Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd.

Loan Agreement

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CHINA BAK BATTERY INC | Shenzhen BAK Battery Co, Ltd

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Title: Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd.
Date: 8/7/2009
Industry: Misc. Financial Services Sector: Financial

Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd., Parties: china bak battery inc , shenzhen bak battery co ltd

Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Shenzhen Branch, Bank of China (the “Creditor”) Dated June 2, 2009

Main articles:

Ø	Contract number: (2009)Zhenzhongyin Sijiezi 60312;

Ø	Loan principal: RMB 50 million;

Ø	Loan Term: from June 2, 2009 to June 2, 2010;

Ø	Interest rate: fixed at 4.779%;

Interest accrued and settled per month, interest settlement day is the 20 ^th day of each month;

Penalty interest rate for delayed repayment: 4.779% plus 50% *4.779%;

Penalty interest rate for embezzlement of loan proceeds: 4.779% *1;

Ø	If any of the following occurs, the Creditor is entitled to demand prepayment of loan principal and interest before maturity and cancel all loans unprovided:

Delay in repayment of loan interest and the loan principal;

n The Company uses loan proceeds for purposes other than what is agreed without the consent of the Creditor;

n &

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