Exhibit 10.2


 





Real
Goods Solar, Inc.


 


Employee Stock Option Agreement 


 


This Stock Option Agreement
set forth below (this “Agreement”) is dated as of the date of grant set forth below and is between Real
Goods Solar, Inc., a Colorado corporation (“Real Goods”), and the individual named below (the “Grantee”).


 


Real Goods has established
its 2018 Long-Term Incentive Plan (the “Plan”) to advance the interests of Real Goods and its shareholders
by providing incentives to certain eligible persons who contribute significantly to the strategic and long-term performance objectives
and growth of Real Goods and any parent or subsidiary of Real Goods.


 


This Agreement evidences an option grant
as follows:


 





	Granted to:	 ̈
	Number of Shares:	 ̈
	Effective Date of Grant: 	 ̈
	Expiration Date:	This Employee Stock Option Agreement shall expire on the  ̈  anniversary of the Effective Date of Grant (the “Expiration Date”), and the Grantee shall have no further rights hereunder as of the Expiration Date.
	Exercise Price per Share:	 ̈
	Vesting Dates:	 ̈ percent ( ̈%) of the shares shall vest on the last day of each calendar quarter occurring after the Effective Date of Grant (each a “Vesting Date”) provided that the Grantee has been continuously employed by Real Goods from the Effective Date of Grant through the applicable Vesting Date. The first Vesting Date shall be  ̈, and the Grantee shall be fully vested on  ̈. Vesting stops if Grantee ceases to be employed by Real Goods.  Notwithstanding the foregoing, one hundred percent (100%) of the unvested shares shall vest immediately prior to the consummation of a Change of Control (as defined in Section 17 below) of Real Goods provided that the Grantee is employed by Real Goods on the date the Change of Control is consummated.
	 	 
	Deadline for Acceptance:	If this Employee Stock Option Agreement is not signed by the Grantee and returned to the Stock Plan Administrator within   ̈ business days from date of delivery to the Grantee, then this Employee Stock Option Agreement and the Option Shares shall be considered withdrawn.







 





Pursuant to the provisions of the
Plan, the Board of Directors of Real Goods (the “Board”) or a Committee designated by the Board (the “Committee”)
has full power and authority to direct the execution and delivery of this Agreement in the name and on behalf of Real Goods. The
Board or the Committee authorized the execution and delivery of this Agreement. All capitalized terms not otherwise defined in
this Agreement have the same meaning given such capitalized terms in the Plan.


 






     


     


    

 


The parties agree as
follows:


 


Section 1.  Grant
of Stock Option; Term.   Subject and pursuant to all terms and conditions stated in this Agreement and in the
Plan, Real Goods hereby grants to Grantee an option (the “Option”) to purchase the number of shares (the
“Option Shares”) of Real Goods’ Class A Common Stock, par value $.0001 per share (the “Common
Shares”), set forth above, at the exercise price set forth above. Except as otherwise provided in this Agreement
or the Plan, the Option may not be exercised after the close of business on the expiration date set forth above. Grantee hereby
accepts the Option on such terms and conditions, including, without limitation, the confidentiality and noncompete provisions set
forth in Section 8 of this Agreement. The Option is a Nonqualified Stock Option (as such term is defined in the Plan). Grantee
shall, subject to the limitations of this Agreement and the Plan, have the right to exercise the Option by purchasing all or any
part of the vested Option Shares then available for purchase under the vesting schedule set forth above (less any Option Shares
previously purchased upon exercise of this Option).


 


Section 2.  Procedures
for Exercise.  Grantee shall exercise all or any part of the Option by delivering to Real Goods: (i) written
notice of the number of vested Option Shares to be purchased, (ii) payment of the exercise price of such Option Shares in the form
of cash or, if permitted by the Committee, qualified Common Shares, the surrender of another outstanding Award under the Plan or
any combination thereof, and (iii) payment of any required withholding pursuant to Section 10. The Option shall be deemed to have
been exercised as of the close of business on the date the required documents and required consideration are received by Real Goods.
For purposes of this Section 2, Common Shares shall be deemed to be "qualified" Common Shares if they have been held
by Grantee for six months or such other period as set from time to time by the Board or the Committee.


 


Section 3.  Termination
of Employment, Retirement, Disability or Death.


 


(a)       Vesting
shall cease on the date Grantee ceases to be employed by the Company. Following Grantee's last day of employment with the Company,
this Option shall only be exercisable for the number of Option Shares that are vested as of Grantee's last day of employment with
the Company (less any Option Shares previously acquired upon exercise of this Option).


 


(b)       Except
as provided in Section 3(c) or 3(d), following Grantee's last day of employment with the Company, this Option may be exercised
at any time and from time to time within the lesser of (i) the 30 day period commencing on the first day after Grantee's last day
of employment with the Company or (ii) the remaining term of the Option.


 


(c)       If
termination of employment occurs due to death or disability while Grantee is an employee of the Company, then this Option may be
exercised at any time and from time to time within the lesser of (i) the one year period commencing on the first day after Grantee's
last day of employment with the Company or (ii) the remaining term of the Option.


 


(d)       If
termination of employment occurs due to retirement at or after normal retirement age, as prescribed from time to time by the Company's
retirement policy, or retirement under circumstances approved by the Committee (either before or after retirement), then this Option
may be exercised at any time within the lesser of (i) the three month period commencing on the first day after Grantee's last day
of employment with the Company, or, if Grantee dies during the three month period commencing on the first day after Grantee's last
day of employment with the Company, then the one year period commencing on the first day after Grantee's last day of employment
with the Company, or (ii) the remaining term of the Option.


 






    	 	2	 



     


    

 


Section 4.  Issuance
and Delivery of Option Shares.  The stock certificate(s) representing Option Shares shall be issued to Grantee
subject to satisfaction of the applicable tax withholding requirements set forth in Section 10. The issuance of Option Shares
shall be in accordance with the provisions of Section 5.


 


Section 5.  No
Issuance of Option Shares if Violation.  Real Goods shall not issue stock certificate(s) representing Option
Shares if the administrator of the Plan or its authorized agent determines, in its sole discretion, that the issuance of such certificate(s)
would violate the terms of the Plan, this Agreement or applicable law.


 


Section 6.  Rights
as an Employee or Shareholder.  Except as otherwise provided in the Plan, no person shall be, or have any of
the rights or privileges of, a shareholder of Real Goods with respect to any of the Option Shares unless and until certificates
representing such shares shall have been issued and delivered to such person. Neither the Plan nor this Agreement shall be deemed
to give Grantee any right with respect to continued employment with the Company, nor shall the Plan or the Agreement be deemed
to limit in any way the Company's right to terminate Grantee's employment at any time.


 


Section 7.  Nondisparagement
and Further Assistance. During Grantee's employment and thereafter, Grantee will not make any disclosure, issue
any public statements or otherwise cause to be disclosed any information which is designed, intended or might reasonably be anticipated
to discourage suppliers, customers or employees of the Company or otherwise have a negative impact or adverse effect on the Company.
Grantee will provide assistance reasonably requested by the Company in connection with actions taken by Grantee while employed
by the Company, including but not limited to assistance in connection with any lawsuits or other claims against the Company arising
from events during the period in which Grantee was employed.


 


Section 8.  Nondisclosure
of Confidential Information; Covenants.  


 


(a)       In
consideration of the receipt of the Option, Grantee agrees (i) not to disclose to any third party any trade secrets or any other
confidential information of the Company (including but not limited to cost or pricing information, customer lists, commission plans,
supply information, internal business procedures, market studies, expansion plans, potential acquisitions, terms of any acquisition
or potential acquisition or the existence of any negotiations concerning the same or any similar non-public information relating
to the Company’s internal operations, business policies or practices) acquired during Grantee’s employment by the Company
or after the termination of such employment, or (ii) use or permit the use of any of the Company’s trade secrets or confidential
information in any way to compete (directly or indirectly) with the Company or in any other manner adverse to the Company.


 


(b)       Grantee
agrees that, without the prior written consent of the Company, signed by the Company’s Chief Financial Officer, Grantee will
not, during the term of Grantee’s employment by the Company or for a period of two years thereafter (i) solicit any customers
of the Company for the purposes of diverting any existing or future business of such customers to a competing source, (ii) solicit
any vendors to the Company (directly or indirectly) for the purpose of causing, inviting or encouraging any such vendor to alter
or terminate his, her or its business relationship with the Company, or (iii) solicit any employees of the Company (directly or
indirectly) for the purpose of causing, inviting or encouraging any such employee to alter or terminate his, her or its employment
relationship with the Company.


 






    	 	3	 



     


    

 


(c)       Grantee
agrees that, without the prior written consent of the Company, signed by the Company’s Chief Financial Officer, Grantee will
not, during the term of Grantee’s employment by the Company or for a period of six months thereafter accept employment with,
serve as a consultant to, or accept compensation from any person, firm or corporation (including any new business started by Grantee,
either alone or with others) whose products and or services compete with those offered by the Company, in any geographic market
in which the Company is then doing business or to Grantee’s knowledge plans to do business.


 


(d)       The
Company will be entitled to enforce its rights under this Agreement to the extent permitted by applicable law, specifically to
recover damages permitted by applicable law by reason of any breach of any provision of this Agreement and to exercise all other
rights to which it may be entitled. Grantee agrees and acknowledges that money damages may not be an adequate remedy for breach
of the provisions of this Agreement and that the Company may in its sole discretion apply to any court of law or equity of competent
jurisdiction for specific performance and/or injunctive relief in order to enforce or prevent any violations of the provisions
of this Agreement to the extent permitted by applicable law.


 


(e)       Grantee
agrees that this covenant is reasonable with respect to its duration, geographic area and scope. It is the desire and intent of
the parties that the provisions of this Section 8 shall be enforced to the fullest extent permissible under the laws and public
policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular portion of this Section 8
shall be adjudicated to be invalid or unenforceable, this Section 8 shall be deemed amended to delete therefrom the portion thus
adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this Section 8 in the
particular jurisdiction in which such adjudication is made.


 


Section 9.  Securities
Laws.  Grantee acknowledges that applicable securities laws may restrict the right and govern the manner in which
Grantee may dispose of the Option Shares obtained upon exercise of the Option and Grantee agrees not to offer, sell or otherwise
dispose of any such shares in a manner that would violate the Securities Act of 1933, as amended, or any other federal or state
law.


 


Section 10.  Income
Taxes.  Grantee acknowledges that when Grantee is required to recognize income for federal, state or local income
tax purposes on account of the grant, vesting and/or exercise of the Option, pursuant to this Agreement, that such income shall
be subject to withholding of tax by the Company. Grantee agrees that the Company may either withhold an appropriate amount from
any compensation or any other payment of any kind then payable or that may become payable to Grantee or, require Grantee to make
a cash payment to the Company equal to the amount of withholding required in the opinion of the Company. In the event Grantee does
not make such payment when requested, the Company may refuse to issue or cause to be delivered any shares under this Agreement
or any other incentive plan agreement entered into by Grantee and the Company until such payment has been made or arrangements
for such payment satisfactory to the Company have been made. Grantee agrees further to notify the Company promptly if Grantee files
an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to any Option Shares.


 


Section 11.  Prohibition
on Transfer or Assignment.  Except as provided in the Plan, neither this Agreement nor the Option may be transferred
or assigned, other than an assignment by will or by laws of descent and distribution, and this Option shall be exercisable during
the Grantee’s lifetime only by Grantee or by such permitted assignee.


 


Section 12.  Binding
Effect; No Third Party Beneficiaries.  This Agreement shall be binding upon and inure to the benefit of the Company
and Grantee and their respective heirs, representatives, successors and permitted assigns. This Agreement shall not confer any
rights or remedies upon any person other than Real Goods and the Grantee and their respective heirs, representatives, successors
and permitted assigns. The parties agree that this Agreement shall survive the exercise or termination of the Option.


 






    	 	4	 



     


    

 


Section 13.  Agreement
to Abide by Plan; Conflict between Plan and Agreement.  The Plan is hereby incorporated by reference into this
Agreement and made a part hereof as though fully set forth in this Agreement. Grantee, by execution of this Agreement, (i) represents
that he is familiar with the terms and provisions of the Plan and (ii) agrees to abide by all of the terms and conditions of this
Agreement and the Plan. Grantee accepts as binding, conclusive and final all decisions or interpretations of the administrator
of the Plan upon any question arising under the Plan and this Agreement (including, without limitation, the cause of any termination
of Grantee's employment with the Company). In the event of any conflict between the Plan and this Agreement, the Plan shall control
and this Agreement shall be deemed to be modified accordingly.


 


Section 14.  Entire
Agreement.  This Agreement constitutes the entire agreement between the parties and supersedes any prior understandings,
agreements, or representations by or between the parties, written or oral, to the extent they related in any way to the subject
matter hereof. Grantee agrees and acknowledges that this Agreement satisfies in full any obligations of the Company and its subsidiaries
and predecessors in connection with the grant of any stock options or other equity incentives.


 


Section 15.  Choice
of Law.  To the extent not superseded by federal law, the laws of the State of Colorado shall control in all
matters relating to this Agreement and any action relating to this Agreement must be brought in Denver, Colorado.


 


Section 16.  Notice.  All
notices, requests, demands, claims, and other communications under this Agreement shall be in writing. Any notice, request, demand,
claim, or other communication under this Agreement shall be deemed duly given if (and then two business days after) it is sent
by registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended recipient at the address
set forth below the recipient’s signature to this Agreement. Either party to this Agreement may send any notice, request,
demand, claim, or other communication under this Agreement to the intended recipient at such address using any other means (including
personal delivery, expedited courier, messenger service, telecopy, ordinary mail, or electronic mail), but no such notice, request,
demand, claim, or other communication shall be deemed to have been duly given unless and until it actually is received by the intended
recipient. Either party to this Agreement may change the address to which notices, requests, demands, claims, and other communications
hereunder are to be delivered by giving the other party notice in the manner set forth in this section.


 


Section 17.  Definitions.  The
following definitions shall apply for purposes of this Agreement:


 


(a)       “Change
of Control” means any transaction or series of related transactions (A) the result of which is that any “person”
(as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)),
or persons, controlling, controlled by or under common control with such person becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Exchange Act), of more than 50% of the issued and outstanding Voting Stock (as defined below) of
Company, (B) that results in the sale of all or substantially all of the assets of Company, or (C) that results in the consolidation
or merger of Company with or into another corporation or corporations or other entity in which Company is not the surviving corporation
(except any such corporation or entity controlled, directly or indirectly, by Company). As used herein, the term “Voting
Stock” will mean and include (I) any capital stock of any class of Company that has the right to vote on all matters
submitted to holders of any capital stock of any class of Company, and (II) any security, right, option, warrant or agreement convertible
into or exercisable to obtain any Common Shares or capital stock of any class that has the right to vote on all matters submitted
to holders of Common Shares.


 






    	 	5	 



     


    

 


For the avoidance of
doubt, the term Change of Control shall not include a sale of assets, merger or other transaction effected exclusively for the
purpose of changing the domicile of Real Goods.


 


Section 18.  Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.


 


EXECUTED as of the date of grant
set forth above.


 











	REAL GOODS SOLAR, INC.	GRANTEE
	 	 	 	 	 
	 	 	 	 	 
	By	 	 	By	 
	 	Name / Title: 	 	Name: 
	 	 	 	Address:	 
	 	Address:   	 	 	 


 


	 	 	 	Employee ID Number:	 







 


 






    	 	6