On January 2, 2013, Solar Power, Inc. amended the business loan agreement entered into with Cathay Bank on December 26, 2011. Under the original terms of the loan agreement, Cathay agreed to extend the company a line of credit of the lesser of $9,000,000 or 70% the aggregate amount in certain accounts, which was to mature on December 31, 2012. LDK Solar Co.

Ltd. agreed to guarantee the full amount of the loan under a commercial guaranty by and between LDK and Cathay dated December 26, 2011. Under the terms of the amended loan agreement, the facility amount is reduced to the current balance outstanding of $7,000,000, with a variable interest rate of 2.00% points above the prime rate and a 6.00% point floor rate. The maturity date is extended to June 30, 2013 with principal payments of $500,000 due each month beginning December 31, 2012.

The covenants of the Loan Agreement were amended to include, among other items, the subordination of the net accounts payable due to LDK.