EX-10.16



 Exhibit 10.16 

RESTRICTED STOCK UNIT AGREEMENT 

PURSUANT TO THE 

SUNEDISON YIELDCO, INC. 

2014 SECOND AMENDED AND RESTATED LONG-TERM INCENTIVE PLAN 

* * * * * 

Participant:                     

Grant Date: 
 Number Restricted Stock Units
Granted:                     
 *
* * * * 
 THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”), dated as of the Grant Date specified
above, is entered into by and between TerraForm Power, Inc. (f/k/a SunEdison Yieldco, Inc.), a corporation organized in the State of Delaware (the “Company”), and the Participant specified above, pursuant to the SunEdison Yieldco,
Inc. 2014 Second Amended and Restated Long-Term Incentive Plan, as in effect and as amended from time to time (the “Plan”), which is administered by the board of directors of the Company; and 

WHEREAS, it has been determined under the Plan that it would be in the best interests of the Company to grant the Restricted Stock
Units provided herein to the Participant. 
 NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set
forth and for other good and valuable consideration, the parties hereto hereby mutually covenant and agree as follows: 
 1.
Incorporation By Reference; Plan Document Receipt. This Agreement is subject in all respects to the terms and provisions of the Plan (including, without limitation, any amendments thereto adopted at any time and from time to time
unless such amendments are expressly intended not to apply to the Award provided hereunder), all of which terms and provisions are made a part of and incorporated in this Agreement as if they were each expressly set forth herein. Any capitalized
term not defined in this Agreement shall have the same meaning as is ascribed thereto in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the Plan carefully and fully understands its
content. In the event of any conflict between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control. 

2. Grant of Restricted Stock Units Award. The Company hereby grants to the Participant, as of the Grant Date specified above,
the number of Restricted Stock Units specified above. Except as otherwise specifically provided for in the Plan or this Agreement, no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of
Restricted Stock Units issued pursuant to this Agreement. The Participant shall not have the rights of a stockholder in respect of the shares underlying this Award until such shares are delivered to the Participant in accordance with Section 4
hereof. 







 3. Vesting. 

(a) Subject to the provisions of Sections 3(b) through 3(d) hereof, the Restricted Stock Units subject to this grant shall become vested as
follows, provided that the Participant has not incurred a Termination prior to each such vesting date: 
  

					
	 Vesting Date
	  	Percentage of
Restricted Stock Units	 
		  	 	25	% 
		  	 	25	% 
		  	 	50	% 

 There shall be no proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only
on the appropriate vesting date, subject to the Participant’s continued service with the Company or any of its Affiliates or Subsidiaries on each applicable vesting date. 

(b) Committee Discretion to Accelerate Vesting. Notwithstanding the foregoing, the Committee may, in its sole discretion, provide for
accelerated vesting of the Restricted Stock Units at any time and for any reason. 
 (c) Change in Control. The Restricted Stock
Units shall become fully vested upon the occurrence of a Change in Control so long as the Participant has not incurred a Termination prior to such Change in Control. 

(d) Forfeiture. Subject to the Committee’s discretion to accelerate vesting hereunder and subject to the provisions of Sections
3(b) and 3(c) above, all unvested Restricted Stock Units shall be immediately forfeited upon the Participant’s Termination for any reason. 

4. Delivery of Shares. Within thirty (30) days following the vesting of the Restricted Stock Units, the Participant shall
receive the number of shares of Common Stock that correspond to the number of Restricted Stock Units that have become vested on the applicable vesting date; provided that the Participant shall be obligated to pay to the Company the aggregate
par value of the shares of Common Stock to be issued within ten (10) days following the issuance of such shares unless such shares have been issued by the Company from the Company’s treasury. 

5. Dividends; Rights as Stockholder. Except as otherwise provided herein, the Participant shall have no rights as a stockholder
with respect to any shares of Common Stock covered by any Restricted Stock Unit, including without limitation, any right to any dividends or other cash or stock-based distributions, unless and until the Participant has become the holder of record of
such shares. 
 6. Non-Transferability. Other than with respect to estate planning purposes benefitting a spouse or child, the
Restricted Stock Units, and any rights and interests with respect thereto, issued under this Agreement and the Plan shall not, prior to vesting, be sold, exchanged, transferred, assigned or otherwise disposed of in any way by the Participant (or any
beneficiary of the Participant), other than by testamentary disposition by the Participant or the laws of descent and distribution. Any attempt to sell, exchange, transfer, assign, pledge, encumber or otherwise dispose of or hypothecate in any way
any of the Restricted Stock Units, or the levy of any execution, attachment or similar legal process upon the Restricted Stock Units, contrary to the terms and provisions of this Agreement and/or the Plan shall be null and void and without legal
force or effect. 

  
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 7. Legend. The Company may at any time place legends referencing any applicable
federal, state or foreign securities law restrictions on all certificates representing shares of Common Stock issued pursuant to this Agreement. The Participant shall, at the request of the Company, promptly present to the Company any and all
certificates representing shares of Common Stock acquired pursuant to this Agreement in the possession of the Participant in order to carry out the provisions of this Section 7. 

8. Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by,
and construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof. 
 9.
Withholding of Tax. The Company shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy any federal, state, local and foreign taxes of any kind
(including, but not limited to, the Participant’s FICA and SDI obligations) which the Company, in its sole discretion, deems necessary to be withheld or remitted to comply with the Code and/or any other applicable law, rule or regulation with
respect to the Restricted Stock Units and, if the Participant fails to do so, the Company may otherwise refuse to issue or transfer any shares of Common Stock otherwise required to be issued pursuant to this Agreement. Any minimum statutorily
required withholding obligation with regard to the Participant may be satisfied by reducing the amount of cash or shares of Common Stock otherwise deliverable to the Participant hereunder. 

10. Securities Representations. This Agreement is being entered into by the Company in reliance upon the following express
representations and warranties of the Participant. The Participant hereby acknowledges, represents and warrants that: 
 (a) The Participant
has been advised that the Participant may be an “affiliate” within the meaning of Rule 144 under the Securities Act and in this connection the Company is relying in part on the Participant’s representations set forth in this
Section 10. 
 (b) If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the shares of Common
Stock issuable hereunder must be held indefinitely unless an exemption from any applicable resale restrictions is available or the Company files an additional registration statement (or a “re-offer prospectus”) with regard to such shares
of Common Stock and the Company is under no obligation to register such shares of Common Stock (or to file a “re-offer prospectus”). 

(c) If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the Participant understands that
(i) the exemption from registration under Rule 144 will not be available unless (A) a public trading market then exists for the Common Stock of the Company, (B) adequate information concerning the Company is then available to the
public, and (C) other terms and conditions of Rule 144 or any exemption therefrom are complied with, and (ii) any sale of the shares of Common Stock issuable hereunder may be made only in limited amounts in accordance with the terms and
conditions of Rule 144 or any exemption therefrom. 
 11. Entire Agreement; Amendment. This Agreement, together with the Plan,
contains the entire agreement between the parties hereto with respect to the subject matter contained herein, and supersedes all prior agreements or prior understandings, whether written or oral, between the parties relating to such subject matter.
The Committee shall have the right, in its sole discretion, to modify or amend this Agreement from time to time in accordance with and as provided in the Plan. This Agreement may also be modified or amended by a writing signed by both the Company
and the Participant. The Company shall give written notice to the Participant of any such modification or amendment of this Agreement as soon as practicable after the adoption thereof. 

  
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 12. Notices. Any notice hereunder by the Participant shall be given to the Company
in writing and such notice shall be deemed duly given only upon receipt thereof by the General Counsel of the Company. Any notice hereunder by the Company shall be given to the Participant in writing and such notice shall be deemed duly given only
upon receipt thereof at such address as the Participant may have on file with the Company. 
 13. No Right to Employment. Any
questions as to whether and when there has been a Termination shall be determined in the sole discretion of the Committee and any question as to the cause of such Termination shall be determined in the reasonable discretion of the Committee. Nothing
in this Agreement shall interfere with or limit in any way the right of the Company, its Subsidiaries or its Affiliates to terminate the Participant’s employment or service at any time, for any reason and with or without Cause. 

14. Transfer of Personal Data. The Participant authorizes, agrees and unambiguously consents to the transmission by the Company
(or any Subsidiary) of any personal data information related to the Restricted Stock Units awarded under this Agreement for legitimate business purposes (including, without limitation, the administration of the Plan). This authorization and consent
is freely given by the Participant. 
 15. Compliance with Laws. The grant of Restricted Stock Units and the issuance of
shares of Common Stock hereunder shall be subject to, and shall comply with, any applicable requirements of any foreign and U.S. federal and state securities laws, rules and regulations (including, without limitation, the provisions of the
Securities Act, the Exchange Act and in each case any respective rules and regulations promulgated thereunder) and any other law, rule regulation or exchange requirement applicable thereto. The Company shall not be obligated to issue the Restricted
Stock Units or any shares of Common Stock pursuant to this Agreement if any such issuance would violate any such requirements. As a condition to the settlement of the Restricted Stock Units, the Company may require the Participant to satisfy any
qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation. 
 16. Binding
Agreement; Assignment. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company and its successors and assigns. The Participant shall not assign (except in accordance with Section 6 hereof) any
part of this Agreement without the prior express written consent of the Company. 
 17. Headings. The titles and headings of
the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement. 

18. Counterparts. This Agreement may be executed in one or more counterparts and by electronic exchange of signatures, each of
which shall be deemed to be an original, but all of which shall constitute one and the same instrument. 
 19. Further
Assurances. Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and shall execute and deliver all such other agreements, certificates, instruments and documents as either party hereto
reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the Plan and the consummation of the transactions contemplated thereunder. 

  
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 20. Severability. The invalidity or unenforceability of any provisions of this
Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement in any other jurisdiction,
it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law. 

21. Acquired Rights. The Participant acknowledges and agrees that: (a) the Company may terminate or amend the Plan at any
time; (b) the award of Restricted Stock Units made under this Agreement is completely independent of any other award or grant and is made at the sole discretion of the Company; (c) no past grants or awards (including, without limitation,
the Restricted Stock Units awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) any benefits granted under this Agreement are not part of the Participant’s ordinary salary, and shall
not be considered as part of such salary in the event of severance, redundancy or resignation. 
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	TERRAFORM POWER, INC.
		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

	
	PARTICIPANT
	
	  

		
	 Name:
	 	  



 RESTRICTED STOCK UNIT GRANT AGREEMENT SIGNATURE PAGE