T
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
Delaware
|
94-3008969
|
(State
or Other Jurisdiction of Incorporation or Organization)
|
(I.R.S.
Employer Identification No.)
|
Large
Accelerated Filer T
|
Accelerated
Filer o
|
Non-accelerated
filer o
|
Smaller
reporting company o
|
(Do
not check if a smaller reporting
company)
|
Item 6.
|
Exhibits
|
Exhibit
Number
|
Description
|
|
10.1†*
|
Long-Term
Supply Agreement, dated January 6, 2009, by and between SunPower
Corporation and Hemlock Semiconductor, LLC.
|
|
10.2
|
Amendment
to Long-Term Supply Agreement, dated January 6, 2009, by and among
SunPower Corporation, Hemlock Semiconductor, LLC, and SunPower Philippines
Manufacturing Limited.
|
|
10.3
|
Amended
and Restated SunPower Corporation Annual Key Employee Bonus
Plan.
|
|
10.4
|
Amended
and Restated SunPower Corporation Key Employee Quarterly Key Initiative
Bonus Plan.
|
|
10.5
|
Amendment
to Credit Agreement, dated February 25, 2009, by and between SunPower
Corporation and Wells Fargo Bank, National Association.
|
|
10.6
|
Amendment
to Second Amended and Restated SunPower Corporation 2005 Stock Incentive
Plan dated March 12, 2009.
|
|
10.7†
|
Amended
and Restated Credit Agreement, dated March 20, 2009, by and between
SunPower Corporation and Wells Fargo Bank, National
Association.
|
|
10.8
|
Continuing
Guaranty, dated March 20, 2009, by and between SunPower North America, LLC
and Wells Fargo Bank, National Association.
|
|
10.9†
|
Amendment
Three to Turnkey Engineering, Procurement and Construction Agreement,
dated March 26, 2009, by and between SunPower Corporation, Systems and
Florida Power and Light Company.
|
|
31.1*
|
Certification
by Chief Executive Officer Pursuant to Rule
13a-14(a)/15d-14(a).
|
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31.2*
|
Certification
by Chief Financial Officer Pursuant to Rule
13a-14(a)/15d-14(a).
|
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32.1
|
Certification
Furnished Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley Act of
2002.
|
SUNPOWER
CORPORATION
|
||
Dated:
June 25, 2009
|
By:
|
/s/ DENNIS
V. ARRIOLA
|
Dennis
V. Arriola
|
||
Senior
Vice President and
|
||
Chief
Financial Officer
|
Exhibit
Number
|
Description
|
|
10.1†*
|
Long-Term
Supply Agreement, dated January 6, 2009, by and between SunPower
Corporation and Hemlock Semiconductor, LLC.
|
|
31.1*
|
Certification
by Chief Executive Officer Pursuant to Rule
13a-14(a)/15d-14(a).
|
|
31.2*
|
Certification
by Chief Financial Officer Pursuant to Rule
13a-14(a)/15d-14(a).
|
|
|
|
1.
|
I
have reviewed this Quarterly Report on Form 10-Q/A of SunPower
Corporation;
|
2.
|
Based
on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
|
3.
|
Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this
report;
|
4.
|
The
registrant’s other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and
have:
|
5.
|
The
registrant’s other certifying officer(s) and I have disclosed, based on
our most recent evaluation of internal control over financial reporting,
to the registrant’s auditors and the audit committee of the registrant’s
board of directors (or persons performing the equivalent
functions):
|
/S/
THOMAS H. WERNER
|
|
Thomas
H. Werner
|
|
Chief
Executive Officer
|
|
(Principal
Executive Officer)
|
1.
|
I
have reviewed this Quarterly Report on Form 10-Q/A of SunPower
Corporation;
|
2.
|
Based
on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
|
3.
|
Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this
report;
|
4.
|
The
registrant’s other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and
have:
|
5.
|
The
registrant’s other certifying officer(s) and I have disclosed, based on
our most recent evaluation of internal control over financial reporting,
to the registrant’s auditors and the audit committee of the registrant’s
board of directors (or persons performing the equivalent
functions):
|
/s/
Dennis V. Arriola
|
|
Dennis
V. Arriola
|
|
Senior
Vice President and Chief Financial Officer
|
|
(Principal
Financial and Accounting Officer)
|
CONFIDENTIAL
TREATMENT REQUESTED
--
CONFIDENTIAL
PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
|
(a)
|
“Affiliate”
of either party means an entity that controls said party, is controlled by
said party, or is under common control or common ownership with said
party. For purposes of this definition, “control” and
“controlled” mean the possession of the power to direct or cause the
direction of the management and policies of such an entity, whether
through the ownership of voting securities, by contract, by management
agreement or otherwise.
|
(b)
|
“Agreement”
means this Long-Term Supply
Agreement.
|
(c)
|
“Buyer”
means SunPower Corporation.
|
(d)
|
“Effective
Date” means the date on which execution of this Agreement has been
completed by both parties.
|
(e)
|
“Gross
Price” for each Product means the Gross Price per kilogram for each year
of this Agreement as set forth in Section 4 hereof and Tables II A and B,
and Tables III A - I, of Exhibit B, subject to the adjustments set
forth in this Agreement.
|
(f)
|
“Net
Price” for each Product means the Gross Price per kilogram minus the
Advance Payment per kilogram for each year of this Agreement set forth in
Table I of Exhibit B, subject to the adjustments set forth in this
Agreement.
|
(g)
|
“Net
Remaining Advance Payment Balance” for each calendar year is set forth in
Table 1 of Exhibit B.
|
(h)
|
“Seller”
means Hemlock Semiconductor, LLC.
|
(a)
|
Buyer
may transfer the Products without prior written consent of Seller to
wholly-owned or majority-owned subsidiaries of the Buyer (hereinafter
together with Buyer referred to as the “Buyer Group”) for Buyer’s
manufacturing purposes in solar applications only, and for no other
purpose; and
|
(b)
|
Buyer
may transfer the Products without prior written consent of the Seller to
persons who have entered into supply agreements with a Buyer Group member
to produce ingots and/or wafers from such transferred Products for such
Buyer Group member, for Buyer’s manufacturing purposes in solar
applications. Buyer shall notify Seller of each such transfer,
provide copies of the Buyer Group transfer agreements upon entering into
such agreements and notify Seller upon termination of such
agreements.
|
(a)
|
5%
($14,538,888.00) shall be due on or before October 9,
2009;
|
(b)
|
35%
($101,772,216.00) shall be due on or before October 11,
2010;
|
(c)
|
35%
($101,772,216.00) shall be due on or before October 10, 2011;
and
|
(d)
|
25%
($72,694,440.00) shall be due on or before August 10,
2012.
|
(a)
|
Default
by Seller-Failure to Supply Product. Upon default by
Seller of its obligation to deliver a material amount of the Contract
Quantity of Product listed on Table I of Exhibit B, and such failure is
not the result of a Force Majeure Event as defined in Section 19 or any
default by Buyer, Buyer may serve a written notice of default upon
Seller. Seller shall have 180 days (commencing on the date
written notice is received by Seller) to cure such default. If
such default is not cured within 180 days, and provided there is no
uncured Buyer default, Buyer at its option may elect to terminate this
Agreement by a second written notice
to
|
(b)
|
Limitation
of Buyer’s Remedies. EXCEPT AS PROVIDED IN SECTION
11(a), SECTION 14, SECTION 15 AND SECTION 17 HEREOF, NO OTHER REMEDY
(INCLUDING, BUT NOT LIMITED TO, INCIDENTAL OR CONSEQUENTIAL DAMAGES FOR
LOST PROFITS, LOST SALES, INJURY TO PERSON OR PROPERTY, OR ANY OTHER
INCIDENTAL OR CONSEQUENTIAL LOSS) SHALL BE AVAILABLE TO
BUYER.
|
(c)
|
Default
by Buyer. Upon receipt of written notice from Seller of
default by Buyer of its obligation
to:
|
(i)
|
make
any installment of the Advance Payment;
or
|
(ii)
|
comply
with its purchase or take-or-pay obligations;
or
|
(iii)
|
make
payment for the Products;
|
A.
|
payment
by Buyer to Seller of all Advance Payment amounts due under Section 6 and
not yet paid by Buyer to Seller;
and
|
B.
|
retention
of any Net Remaining Advance Payment Balance;
and
|
C.
|
payment
by Buyer to Seller for all Product delivered;
and
|
D.
|
acceleration
of payment by Buyer to Seller for all remaining Contract Quantity of
Product at the Net Price in effect for HSC DMS and/or HS DMS at the time
of Buyer’s default, subject to any price adjustment provided for in this
Agreement, including without limitation, under Section 8 or Section
18.
|
(a)
|
Seller
and Buyer acknowledge and agree that certain information each party has
received or may receive from the other party or from a Seller or Buyer
Affiliate in connection with this Agreement, including information
regarding research, technology, technical specifications, product
developments, marketing plans or conditions, products, business
strategies, and the like, constitutes “Confidential Information” of the
other party and shall be deemed disclosed by the other party to the
receiving party. The purpose for exchanging Confidential
Information is to allow the parties to use Confidential Information solely
for the purpose of meeting their obligations and responsibilities under
this Agreement. The party receiving any Confidential
Information, and its employees, attorneys, financial advisors, officers,
directors, shareholders and members who receive Confidential Information,
shall not, except with the prior written consent of the disclosing party,
(i) use Confidential Information for any purpose other than those purposes
permitted under this Agreement, whether for itself or for the benefit of
another, or (ii) divulge, disclose, publish or communicate, to any person,
firm, corporation or entity, in any manner whatsoever, the terms of this
Agreement or any Confidential Information of the disclosing party;
provided, however, that (i) each party hereto may use, divulge, disclose
or communicate the terms of this Agreement or Confidential Information of
the disclosing party to its Affiliates, members, and/or shareholders, and
Affiliates of those entities, on a “need-to-know” basis, subject to the
provisions of this Section 12, without first obtaining the other party’s
written consent, and (ii) Buyer may use, divulge, disclose or communicate
the terms of this Agreement or Confidential Information of the disclosing
party to persons who have entered into a supply agreement with a Buyer
Group member (as provided in Section 2(b) hereof) on a “need to know”
basis, subject to the provisions of this Section 12, provided that Seller
has consented in writing in advance to such disclosure, which consent
shall not be unreasonably withheld. Each party further agrees,
for itself and for any person to whom a disclosure is permitted and made,
to use the same degree of care to maintain as confidential and to avoid
non-permitted use or disclosure of the Confidential Information disclosed
to it under this Agreement as it employs with respect to its own
confidential information, but at all times shall use at least reasonable
care to
|
protect against a non-permitted use or disclosure. Confidential Information does not and shall not include information that: |
(i)
|
was
already known to the receiving party at the time such Confidential
Information is disclosed by the other
party;
|
(ii)
|
was
or became publicly known through no wrongful act of the receiving
party;
|
(iii)
|
was
rightfully received from a third party without
restriction;
|
(iv)
|
was
independently developed by the receiving party;
or
|
(v)
|
was
required for legal or financial reporting purposes to be disclosed;
provided, however, that the party being required to disclose shall, if
circumstances permit, provide advance notice to the other party and shall
allow the other party a reasonable opportunity to oppose such disclosure,
if appropriate, and assist the other party, at such party’s sole expense,
in obtaining a protective order or other method of maintaining
confidentiality of such Confidential
Information.
|
(b)
|
The
parties further acknowledge and agree that certain of the Confidential
Information that has been or will be provided to Buyer in connection with
this Agreement concerns technical information related to the Products, the
design, composition, performance, characteristics, manufacture, and use of
the Products, and applications for the Products, including research, test
results, and test methodologies, and also constitutes or reflects trade
secrets of Seller or an Affiliate of Seller (herein collectively “Seller’s
Trade Secrets”). Buyer acknowledges and agrees that Seller’s
Trade Secrets are owned by Seller or an Affiliate of Seller, are secret,
are being provided to Buyer in confidence, are the subject of reasonable
efforts by Seller to keep them secret, and that Seller has derived value
because of their secrecy, as evidenced in part by the parties entering
into this Agreement. Buyer agrees for itself and any person to
whom a disclosure is permitted and made, to use the same degree of care to
maintain as confidential and to avoid any non-permitted use or disclosure
of Seller’s Trade Secrets as it employs with respect to its own trade
secret information, but at all times shall use at least reasonable care to
protect Seller’s Trade Secrets against non-permitted use or
disclosure. The obligations not to use and not to disclose
Seller’s Trade Secrets shall continue during the Term of this Agreement
and, with respect to each Seller Trade Secret, for so long thereafter as
Seller and/or Seller’s Affiliate maintains such Trade Secret as a trade
secret, and thus survive the termination or expiration of this
Agreement.
|
(c)
|
Buyer
will be liable for any breach of this Section 12 by any Buyer Group
members or any person to whom Buyer is permitted to disclose Seller’s
Confidential Information and/or Seller’s Trade Secrets. In the
event of a breach or a threatened breach of this Section 12, Buyer
acknowledges and agrees that Seller will face irreparable injury which
cannot be completely or adequately remedied by monetary damages and that
Seller shall be entitled, in addition to remedies otherwise available at
law or in equity, to a temporary restraining order, a preliminary
injunction, and a final injunction enjoining such breach or threatened
breach.
|
(d)
|
Seller
will be liable for any breach of this Section 12 by any person to whom
Seller is permitted to disclose Buyer’s Confidential
Information. In the event of a breach or a threatened breach of
this Section 12, Seller acknowledges and agrees that Buyer will face
irreparable injury which cannot be completely or adequately remedied by
monetary damages and that Buyer shall be entitled, in addition to remedies
otherwise available at law or in equity, to a temporary restraining order,
a preliminary injunction, and a final injunction enjoining such breach or
threatened breach.
|
(a)
|
Organization
and Good Standing. Such party is a corporation or
limited liability company, as applicable, duly organized, validly existing
and in good standing under the laws of its jurisdiction of organization
and has the requisite corporate or limited liability company, as
applicable, power authority to own, lease and operate its properties and
to carry on its business as now conducted. Such party is not in
default under or in violation of any provisions of its organizational
documents.
|
(b)
|
Authority
and Enforceability. Such party has all corporate or
limited liability company, as applicable, power and authority to execute
and deliver this Agreement and perform its obligations
hereunder. The execution and delivery by such party of this
Agreement and the performance by such party of the transactions
contemplated hereby have each been duly and validly authorized by all
necessary corporate or limited liability company, as applicable,
action. This Agreement has been duly executed and delivered by
such party and, assuming due execution and delivery by the other party,
constitutes a valid and binding obligation of such party, enforceable
against it in accordance with its
terms.
|
(c)
|
No
Conflicts; Consents. The execution and delivery of this
Agreement by such party, the performance by it of its obligations
hereunder, and the compliance by it with the terms and conditions hereof,
will not: (i) violate any provision of its organizational documents, or
(ii) violate any law, rule, regulation, accounting principle, financial
disclosure obligation, or order of any court or governmental authority or
agency that is applicable to or binding on such party. The
execution and delivery by such party of this Agreement and the performance
by such party of its obligations hereunder do not require: (a) any
authorization, consent or approval of, or notice to, any person or entity
under any contract or agreement to which such party is party; or (b) any
authorization, consent, approval, certification, license or order of, or
any filing with or notice to, any governmental
entity.
|
(d)
|
Legal
Proceedings. There are no legal proceedings pending or,
to the knowledge of such party, threatened before any governmental
department, commission, board, agency, or instrumentality that would
prevent the execution and delivery by such party of this Agreement, the
consummation of the transactions contemplated hereby or the performance by
such party of its obligations hereunder, or that would otherwise adversely
affect the validity or enforceability of this Agreement, nor, to the
knowledge of such party, is there any reasonable basis for any such
proceeding.
|
|
If
to Seller to:
|
Hemlock
Semiconductor, LLC
|
|
12334
Geddes Road
|
|
Hemlock,
Michigan 48626
|
|
Attn.:
Vice President of Marketing
|
|
Fax
No.: (989) 642-7400
|
|
With
a copy to:
|
Hemlock
Semiconductor, LLC
|
|
12334
Geddes Road
|
|
Hemlock,
Michigan 48626
|
|
Attn.:
General Counsel/Legal Department
|
|
Fax
No.: (989) 642-7400
|
|
If
to Buyer to:
|
SunPower
Corporation
|
|
Attn: Jon
Whiteman
|
|
3939
North First Street
|
|
San
Jose, California 95134
|
|
Fax
No.: (408) 240-5402
|
|
With
a copy to:
|
SunPower
Corporation
|
|
Attn: General
Counsel
|
|
3939
North First Street
|
|
San
Jose, California 95134
|
|
Fax
No.: (408) 240-5402
|
SUNPOWER
CORPORATION
|
HEMLOCK
SEMICONDUCTOR, LLC
|
By: /s/ Marty T. Neese
|
By: /s/ Gary R. Homan
|
Printed
Name: Marty T. Neese
|
Printed
Name: Gary R. Homan
|
Title:
Chief Operating Officer
|
Title:
Vice President
|
Date: January 9, 2009
|
Date: January 6,
2009
|
Total
Contract Quantity
(in
Kilograms)
***
|
Total
Advance Payment
$290,777,760.00
|
||
Calendar
Year
|
Contract
Quantity
Per
Year
(in
Kilograms)
|
Advance
Payment
Per
Kilogram
|
Net
Remaining Advance
Payment
at Year-End
(to
be Prorated for Buyer Payments for Contract Quantity)
|
2011
|
***
|
$***
|
$***
**
|
2012
|
***
|
$***
|
$***
|
2013
|
***
|
$***
|
$***
|
2014
|
***
|
$***
|
$***
|
2015
|
***
|
$***
|
$***
|
2016
|
***
|
$***
|
$***
|
2017
|
***
|
$***
|
$***
|
2018
|
***
|
$***
|
$***
|
2019
|
***
|
$***
|
$***
|
2020
|
***
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2012
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2013
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2014
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2015
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2016
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2017
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2018
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2019
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
2020
|
HS
DMS or HSC DMS
|
Chunk
|
Bulk
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2012
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2013
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2014
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2015
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2016
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2017
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2018
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2019
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
2020
|
HS
SGB OR HSC SGB
|
Chunk
|
10
kg Bags
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2012
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2013
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2014
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2015
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2016
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2017
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2018
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2019
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
2020
|
HS
DMSL or HSC DMSL
|
Big
Piece
|
10
kg Bags
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2012
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2013
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2014
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2015
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2016
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2017
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2018
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2019
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
2020
|
HS
900 or HSC 900
|
Chunk
|
Bulk
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2012
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2013
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2014
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2015
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2016
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2017
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2018
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2019
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2020
|
HS
840 or HSC 840
|
Chips
|
10
kg Bags
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2012
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2013
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2014
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2015
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2016
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2017
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2018
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2019
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
2020
|
HS
850 or HSC 850
|
Chips
|
10
kg Bags
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2012
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2013
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2014
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2015
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2016
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2017
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2018
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2019
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
2020
|
HS
SCE or HSC SCE
|
Carbon
Ends
|
Bulk
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2012
|
HC
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2013
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2014
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2015
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2016
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2017
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2018
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2019
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
2020
|
HS
PTBS or HSC PTBS
|
Fall-Out
|
Bulk
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2012
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2013
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2014
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2015
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2016
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2017
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2018
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2019
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
2020
|
HS
PCE or HSC PCE
|
Etched
CE
|
10
kg Bags
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2012
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2013
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2014
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2015
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2016
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2017
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2018
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2019
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2020
|
HS
P75 or HSC P75
|
Processed
Fines
|
Drum
|
$***
|
$***
|
Calendar
Year
|
Product
|
Type
|
Package
|
Gross
Price Per kg
|
Net
Price Per kg
|
2011
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2012
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2013
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2014
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2015
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2016
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2017
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2018
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2019
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
2020
|
HS
P80 or HSC P80
|
Processed
Fines
|
Drum
|
$***
|
$***
|
Example of Electricity Cost
Increases
|
||||||||||||
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
2017
|
2018
|
2019
|
2020
|
|
Electricity
Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
Cumulative
Electricity Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
Actual
Electricity Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
Cumulative
Average Actual Electricity Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
Percentage
Difference:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
Price
Change / KG:
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
Example of Labor Cost
Increases
|
|||||||||||||||||||||||||
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
2017
|
2018
|
2019
|
2020
|
||||||||||||||
Labor
Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|||||||||||||
Cumulative
Labor Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|||||||||||||
Actual
Labor Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|||||||||||||
Cumulative
Actual Labor Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|||||||||||||
Percentage
Difference:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|||||||||||||
Price
Change / KG:
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
Example of Silicon Metal Cost
Increases
|
|||||||||||||
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
2017
|
2018
|
2019
|
2020
|
||
Silicon
Metal Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|
Cumulative
Silicon Metal Base Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|
Actual
Silicon Metal Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|
Cumulative
Actual Silicon Metal Percentage:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|
Percentage
Difference:
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
***%
|
|
Price
Change / KG:
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|
$***
|