Document:

Seventh Amended and Restated Investors' Rights Agreement

 Exhibit 4.2 
 SEVENTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
 This SEVENTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made and entered into as of July 17, 2009, by and among Solyndra, Inc., a Delaware corporation (the “Company”),
the investors listed on Schedule A hereto (the “Series A Investors”), the investors listed on Schedule B hereto (the “Series B Investors”), the investors listed on Schedule C hereto, (the
“Series C-1 Investors”), the investors listed on Schedule D hereto (the “Series C-2 Investors”), the investors listed on Schedule E hereto (the “Series D Investors”), the parties
listed on Schedule F hereto, (the “Bridge Investors”), the parties listed on Schedule G hereto (the “Series E Investors,” and together with the Series A Investors, the Series B Investors, the Series
C-1 Investors, the Series C-2 Investors, the Series D Investors, and the Bridge Investors, the “Prior Investors”), the parties listed on Schedule H hereto, (the “Series F Investors” and together with the
Prior Investors, the “Investors”) and the beneficial holders of the Company’s common stock (“Common Stock”) listed on Schedule I hereto (each of which is herein referred to as a “Common
Holder”). 
 WHEREAS, the Company and certain of the Prior Investors have previously entered into an Investors’
Rights Agreement, dated as of February 10, 2006 (the “Original Rights Agreement”) in connection with the Series A Investors’ purchase of shares of the Company’s Series A-1 and Series A-2 Preferred Stock (the
“Series A Stock”), pursuant to the terms and conditions of a Series A-1 and Series A-2 Preferred Stock Purchase Agreement among the Company and the Series A Investors, dated as of February 10, 2006 (the “Series A
Agreement”); 
 WHEREAS, the Company and certain of the Prior Investors have previously entered into that certain First
Amended and Restated Investors’ Rights Agreement, dated as of October 13, 2006 (the “First Amended Rights Agreement”), which amended and restated the Original Rights Agreement in connection with the Series B
Investors’ purchase of shares of the Company’s Series B Preferred Stock (the “Series B Stock”), pursuant to the terms and conditions of that certain Series B Preferred Stock Purchase Agreement by and among the Company and
the Series B Investors, dated as of October 13, 2006 (the “Series B Agreement”); 
 WHEREAS, the Company
and certain of the Prior Investors have previously entered into that certain Second Amended and Restated Investors’ Rights Agreement, dated as of July 9, 2007 (the “Second Amended Rights Agreement”), which amended and
restated the First Amended Rights Agreement in connection with the Series C-1 Investors’ purchase of shares of the Company’s Series C-1 Preferred Stock (the “Series C-1 Stock”), pursuant to the terms and conditions of that
certain Series C-1 Preferred Stock Purchase Agreement by and among the Company and the Series C-1 Investors, dated as of July 9, 2007 (the “Series C-1 Agreement”); 
 WHEREAS, the Company and certain of the Prior Investors have previously entered into that certain Third Amended and Restated Investors’
Rights Agreement, dated as of December 6, 2007 (the “Third Amended Rights Agreement”), which amended and restated the Second Amended Rights Agreement in connection with the Series C-2 Investors’ purchase of shares of the
Company’s Series C-2 Preferred Stock (the “Series C-2 Stock”), pursuant to the terms and conditions of that certain Series C-2 Preferred Stock Purchase Agreement by and among the Company and the Series C-2 Investors, dated as
of December 6, 2007 (the “Series C-2 Agreement”); 
  

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 WHEREAS, the Company and certain of the Prior Investors have previously entered into that
certain Fourth Amended and Restated Investors’ Rights Agreement, dated as of March 25, 2008 (the “Fourth Amended Rights Agreement”), which amended and restated the Third Amended Rights Agreement in connection with the
Series D Investors’ agreement to purchase shares of the Company’s Series D-1 Preferred Stock (the “Series D-1 Stock”), Series D-2 Preferred Stock (the “Series D-2 Stock”) and/or 
Series D-3
Preferred Stock (the “Series D-3 Stock” and together with the Series D-1 Stock and the Series D-2 Stock, the “Series D Stock”) from time-to-time upon request from the Company pursuant to the terms and conditions of
that certain Equity Purchase Agreement by and among the Company and the Series D Investors, dated as of March 25, 2008, as amended from time to time (the “Series D Agreement”); 
 WHEREAS, the Company and certain of the Prior Investors have previously entered into that certain Fifth Amended and Restated Investors’
Rights Agreement, dated as of July 25, 2008 (the “Fifth Amended Rights Agreement”), which amended and restated the Fourth Amended Rights Agreement in connection with the Bridge Investors’ agreement to purchase certain
convertible promissory notes (the “Notes”) and warrants from the Company pursuant to the terms and conditions of that certain Note and Warrant Purchase Agreement dated as of July 25, 2008 (as the same may be amended from time
to time, the “Bridge Agreement”); 
 WHEREAS, the Company and certain of the Prior Investors have previously
entered into that certain Sixth Amended and Restated Investors’ Rights Agreement, dated as of November 24, 2008 (the “Sixth Amended Rights Agreement”), which amended and restated the Fifth Amended Rights Agreement in
connection with (i) the Series E Investors’ agreement to purchase shares of the Company’s Series E Preferred Stock (the “Series E Stock”) and warrants to purchase Common Stock pursuant to the terms of that certain
Series E Preferred Stock Purchase Agreement by and among the Company and the Series E Investors, dated as of November 24, 2008 (the “Series E Agreement”), (ii) the Series D Investors agreement to exchange shares of Series
D Stock for Series E Stock and warrants to purchase Common Stock pursuant to the terms of that certain Stock Exchange Agreement, dated as of November 24, 2008 (the “Stock Exchange Agreement”) and (iii) the Bridge Investors
agreement to convert the Notes into shares of Series E Stock and warrants to purchase Common Stock pursuant to the Series E Agreement; 
 WHEREAS, concurrently with the execution of this Agreement, the Series F Investors and the Company are executing a Series F Preferred Stock Purchase Agreement (as may be amended from time to time, the “Series F
Agreement”), pursuant to which the Series F Investors are agreeing to purchase shares of the Company’s Series F Preferred Stock (the “Series F Stock”) and warrants to purchase Common Stock; 
 WHEREAS, concurrently with the execution of this Agreement, the Company and Argonaut Ventures I, L.L.C. (“Argonaut”) are
entering into that certain Loan and Security Agreement of even date herewith (the “Loan and Security Agreement”) pursuant to which, among other things, (i) Argonaut has agreed to extend to the Company a $50,000,000 revolving
line of credit, (ii) the Company has issued to Argonaut a warrant to purchase shares of its Common Stock (the “Lender Common Warrant”), and (iii) the Company has issued to Argonaut a warrant to purchase shares of Series F
Stock (the “Lender Series F Warrant”); 
  

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 WHEREAS, the Series A Agreement, the Series B Agreement, the Series C-1 Agreement, the
Series C-2 Agreement, the Series D Agreement, the Series E Agreement, and the Series F Agreement each provide that the Investors who are parties thereto shall be granted certain information and registration rights and rights of first refusal
and shall be granted certain rights pursuant to covenants to be made by the Company, all as more fully set forth herein; 
 WHEREAS, under the terms of the Sixth Amended Rights Agreement, each Prior Investor, each Holder (as defined therein) and each permitted successor or assignee thereof shall be bound by and subject to the terms of any amendment thereto
approved by the written consent of the Company and the holders of a majority of the Registrable Securities (as that term is defined in the Sixth Amended Rights Agreement); 
 WHEREAS, the Prior Investors executing this Agreement hold at least a majority of the outstanding Registrable Securities (as defined in the
Sixth Amended Rights Agreement); and 
 WHEREAS, in connection with the Series F Agreement and the Loan and Security Agreement,
the Company, certain of the Prior Investors and the Series F Investors desire to enter into this Agreement, which amends and restates, in its entirety, the Sixth Amended Rights Agreement, for the purpose of consolidating the information and
registration rights, rights of first refusal and certain rights pursuant to covenants made by the Company to the Series A Investors, the Series B Investors, Series C-1 Investors, the Series C-2 Investors, the Series D Investors, and the
Series E Investors into the same agreement that contains such rights of the Series F Investors with respect to the shares of Series F Stock issued pursuant to the Series F Agreement, if any, and the shares of Common Stock issuable upon exercise of
the warrants issued pursuant to the Series F Agreement, if any, and Argonaut with respect to the shares issued pursuant to the Lender Common Warrant and the Lender Series F Warrant, if exercised, and the Series F Investors and Argonaut likewise
desire to enter into this Agreement setting forth such rights of the Series F Investors and Argonaut. 
 NOW, THEREFORE, in
consideration of the mutual promises and covenants set forth herein, and for other good and valuable consideration, the parties hereto agree as follows 
 1. Registration Rights. The Company covenants and agrees as follows: 
 1.1
Definitions. For purposes of this Agreement: 
 (a) The term “Act” means the Securities Act of 1933, as
amended. 
 (b) The term “Allocation Agreement” means that certain Allocation Agreement dated the same date as
this Agreement between the Company and Argonaut. 
 (c) The term “Form S-3” means such form under the Act
as in effect on the date hereof or any registration form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

 

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 (d) The term “Holder” means any person owning or having the right to
acquire Registrable Securities or any assignee thereof in accordance with Section 1.11 hereof; provided, however, that the Common Holders shall not be deemed to be Holders for purposes of Sections 1.2, 1.4, 1.12, 2.1, 2.2,
2.4 and 3.7. 
 (e) The term “Initial Offering” means the Company’s first firm commitment underwritten
public offering of its Common Stock under the Act. 
 (f) The term “1934 Act” means the Securities Exchange
Act of 1934, as amended. 
 (g) The term “Preferred Stock” shall mean the Series A Stock, the Series B Stock,
the Series C-1 Stock, the Series C-2 Stock, the Series D Stock, the Series E Stock and the Series F Stock. 
 (h) The
term “Qualified IPO” has the meaning given to such term in the Company’s Eighth Amended and Restated Certificate of Incorporation (as may be amended from time to time). 
 (i) The terms “register,” “registered,” and “registration” refer to a registration
effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or document. 
 (j) The term “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of shares of
Preferred Stock outstanding (or the Common Stock issuable or issued upon conversion of any Preferred Stock issuable or issued upon conversion or exercise of any securities of the Company), (ii) the Common Stock held (or the Common Stock
issuable or issued upon conversion, exercise or exchange of any securities of the Company held) by any Investor, (iii) shares of Common Stock beneficially owned by the Common Holders; provided, however, that such shares of Common
Stock beneficially owned by the Common Holders shall not be deemed Registrable Securities for the purposes of Sections 1.2, 1.4, 1.12, 2.1, 2.2, 2.4 and 3.7, and (iv) any other shares of Common Stock issued as a dividend or other
distribution with respect to, or in exchange for or replacement of, any of the shares of Common Stock referred to in clause (i), clause (ii) or clause (iii), excluding in all cases, however, any Registrable Securities sold by a person in a
transaction in which his rights under this Section 1 are not assigned. 
 (k) The number of shares of “Registrable
Securities” outstanding shall be determined by the number of Registrable Securities that are either shares of Common Stock that are outstanding or shares of Common Stock that are issuable upon the exercise, conversion or exchange of
securities that are outstanding and immediately exercisable, convertible or exchangeable; provided, however, that no shares of Warrant Stock and no shares of Common Stock issuable upon conversion of shares of Series F Stock shall be included in the
number of shares of “Registrable Securities” outstanding until such shares of Warrant Stock or Series F Stock, as the case may be, shall have actually been issued upon the exercise of a Warrant or issued pursuant to the Series F
Agreement. 
  

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 (l) The term “Rule 144” means Rule 144 under the Act. 
 (m) The term “SEC” means the Securities and Exchange Commission. 
 (n) The term “Warrants” shall mean (1) those certain Common Stock Purchase Warrants issued to (i) the Series D
Investors pursuant to Section 1.2 of the Series D Agreement, as such warrants were amended pursuant to the terms of that certain Amendment to Warrants dated November 24, 2008 by and among the Company and the holders of such warrants,
(ii) the Bridge Investors pursuant to the Bridge Agreement, (iii) the Series E Investors pursuant to the Series E Agreement and the Stock Exchange Agreement, as such warrants were amended pursuant to the terms of that certain Amendment to
Warrants dated July 17, 2009 by and among the Company and the holders of such warrants, (iv) the Series F Investors pursuant to the Series F Agreement and (v) the Lender Common Warrant, and (2) the Lender Series F Warrant.

 (o) The term “Warrant Stock” shall mean shares of Common Stock or Preferred Stock issued, if any, upon
exercise of the Warrants and any shares of Common Stock issuable or issued upon conversion of any Preferred Stock issued upon exercise of the Warrants. 
 1.2 Request for Registration. 
 (a) Subject to the conditions of this
Section 1.2, if the Company shall receive at any time after the earlier of (i) July 9, 2010 and (ii) the effective date of the Initial Offering, a written request from the Holders of a majority of the Registrable Securities then
outstanding (for purposes of this Section 1.2, the “Initiating Holders”) that the Company file a registration statement under the Act covering the registration of at least 25% of the Registrable Securities then outstanding,
then the Company shall, within 20 days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 1.2, use its reasonable best efforts to effect, as soon as practicable, the
registration under the Act of all Registrable Securities that the Holders request to be registered in a written request received by the Company within 20 days of the mailing of the Company’s notice pursuant to this Section 1.2(a).

 (b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an
underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 1.2 and the Company shall include such information in the written notice referred to in Section 1.2(a). In such event the right of any
Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent
provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company (which
underwriter or underwriters shall be reasonably acceptable to a majority in interest of the Initiating Holders). Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Company that marketing factors require a
limitation on the number of securities underwritten (including Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the

  

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number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities pro rata based on the number of Registrable Securities held by all such
Holders (including the Initiating Holders). In no event shall any Registrable Securities be excluded from such underwriting unless all other securities are first excluded. Any Registrable Securities excluded or withdrawn from such underwriting shall
be withdrawn from the registration. 
 (c) Notwithstanding the foregoing, the Company shall not be required to effect a
registration pursuant to this Section 1.2: 
 (i) in any particular jurisdiction in which the Company would be required to
execute a general consent to service of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Act; or 
 (ii) after the Company has effected two registrations pursuant to this Section 1.2, and such registrations have been declared or
ordered effective; or 
 (iii) during the period starting with the date that is 60 days prior to the Company’s good faith
estimate of the date of the filing, and ending on a date 180 days following the effective date, of a Company-initiated registration subject to Section 1.3 below or a request for registration under the Allocation Agreement, provided that
the Company is actively employing in good faith its reasonable best efforts to cause such registration statement to become effective; 
 (iv) if the Initiating Holders propose to dispose of Registrable Securities that may be registered on Form S-3 pursuant to Section 1.4 hereof; or 
 (v) if the Company shall furnish to the Initiating Holders requesting a registration statement pursuant to this Section 1.2 a certificate signed by the Company’s Chief Executive Officer or
Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company (the “Board”), it would be seriously detrimental to the Company and its stockholders for such registration statement to be
effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than 120 days after receipt of the request of the Initiating Holders, provided that such right shall be exercised by the
Company not more than once in any 12 month period, and provided, further, that the Company shall not register any securities for the account of itself or any other stockholder during such 120 day period (other than a registration
relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially
the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt
securities that are also being registered). 
  

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 1.3 Company Registration. 
 (a) If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the
Company for stockholders other than the Holders, but excluding a registration effected by the Company pursuant to the Allocation Agreement) any of its stock or other securities under the Act in connection with the public offering of such securities
(other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does
not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock
issuable upon conversion of debt securities that are also being registered), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within 20 days after mailing
of such notice by the Company in accordance with Section 3.5, the Company shall, subject to the provisions of Section 1.3(c), use its reasonable best efforts to cause to be registered under the Act all of the Registrable Securities that
each such Holder requests to be registered. 
 (b) Right to Terminate Registration. The Company shall have the right to
terminate or withdraw any registration initiated by it under this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn
registration shall be borne by the Company in accordance with Section 1.7 hereof. 
 (c) Underwriting Requirements.
In connection with any offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under this Section 1.3 to include any of the Holders’ securities in such underwriting unless they
accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company (or by other persons entitled to select the underwriters) and enter into an underwriting agreement in customary form with such
underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including Registrable Securities, that the underwriters determine in their sole discretion will not jeopardize the success of the offering. In no event shall any Registrable Securities
be excluded from such offering unless all other stockholders’ securities have been first excluded. In the event that the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such
offering, then the Registrable Securities that are included in such offering shall be allocated as follows: (A) first, the Registrable Securities requested to be included therein by the Investors requesting such registration allocated pro rata
among the Investors on the basis of the number of Registrable Securities held by such Investors and (B) second, if any additional Registrable Securities may be included in such offering, the Registrable Securities requested to be included
therein by the Common Holders pro rata among the Common Holders thereof on the basis of the number of Registrable Securities held by such Common Holders. Notwithstanding the foregoing, in no event shall (i) the amount of securities of the
selling Holders included in the offering be reduced below 25% of the total amount of securities included in such offering, unless

  

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such offering is the Initial Offering, in which case the selling Holders may be excluded if the underwriters make the determination described above and no other stockholder’s securities are
included in such offering, or (ii) any securities held by a Common Holder be included in such offering if any Registrable Securities held by any Holder (other than a Common Holder) that such Holder has requested to be registered are excluded
from such offering. For purposes of the preceding sentence concerning apportionment, for any selling stockholder that is a Holder of Registrable Securities and that is a venture capital fund, investment fund, partnership or corporation, the
affiliated venture capital funds, investment funds, partners, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing
persons shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of Registrable Securities owned by all such related entities and
individuals. 
 1.4 Form S-3 Registration. In case the Company shall receive from the Holders of at least 10% of the
Registrable Securities then outstanding (for purposes of this Section 1.4, the “Initiating Holders”) a written request or requests that the Company effect a registration on Form S-3 and any related qualification or
compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company shall: 
 (a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 
 (b) use its reasonable best efforts to effect, as soon as practicable, such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and
distribution of all or such portion of such Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holders joining in such request as are specified in a
written request given within 15 days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this
Section 1.4: 
 (i) if Form S-3 is not available for such offering by the Holders; 
 (ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose
to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or commissions) of less than $3,000,000; 
 (iii) if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 1.4 a certificate signed by
the Company’s Chief Executive Officer or Chairman of the Board stating that, in the good faith judgment of the Board, it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such
time, in which event the Company shall have the right to defer such filing for a period of not more than 120 days after receipt of the request of the Initiating Holders, provided that such right shall be exercised by the Company not more than
once in any

  

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12-month period and provided further that the Company shall not register any securities for the account of itself or any other stockholder during such 120 day period (other than a registration
relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially
the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt
securities that are also being registered); 
 (iv) if the Company has, within the 12 month period preceding the date of
such request, already effected two registrations on Form S-3 for the Holders pursuant to this Section 1.4; or 
 (v)
in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance. 
 (c) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they
shall so advise the Company as a part of their request made pursuant to this Section 1.4 and the Company shall include such information in the written notice referred to in Section 1.4(a). The provisions of Section 1.2(b) shall be
applicable to such request (with the substitution of Section 1.4 for references to Section 1.2). 
 (d) Subject to
the foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Initiating Holders.
Registrations effected pursuant to this Section 1.4 shall not be counted as requests for registration effected pursuant to Sections 1.2. 
 1.5 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

 (a) prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its
reasonable best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up
to 120 days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; 
 (b)
prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Act with respect to the
disposition of all securities covered by such registration statement; 
 (c) furnish to the Holders such number of copies of a
prospectus, including a preliminary prospectus, in conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 
  

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 (d) use its reasonable best efforts to register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to
qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (e) in the
event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; 
 (f) notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is
required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 
 (g) cause all such Registrable Securities registered pursuant to this Agreement to be listed on a national exchange or trading system and on each securities exchange and trading system on which similar
securities issued by the Company are then listed; and 
 (h) provide a transfer agent and registrar for all Registrable
Securities registered pursuant to this Agreement and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 
 Notwithstanding the provisions of this Section 1, the Company shall be entitled to postpone or suspend, for a reasonable period of
time, the filing, effectiveness or use of, or trading under, any registration statement if the Company shall determine that any such filing or the sale of any securities pursuant to such registration statement would in the good faith judgment of the
Board: 
 (i) materially impede, delay or interfere with any material pending or proposed financing, acquisition, corporate
reorganization or other similar transaction involving the Company for which the Board has authorized negotiations; 
 (ii)
materially adversely impair the consummation of any pending or proposed material offering or sale of any class of securities by the Company; or 
 (iii) require disclosure of material nonpublic information that, if disclosed at such time, would be materially harmful to the interests of the Company and its stockholders; provided,
however, that during any such period all executive officers and directors of the Company are also prohibited from selling securities of the Company (or any security of any of the Company’s subsidiaries or affiliates). 
  

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 In the event of the suspension of effectiveness of any registration statement pursuant to
this Section 1.5, the applicable time period during which such registration statement is to remain effective shall be extended by that number of days equal to the number of days the effectiveness of such registration statement was suspended.

 1.6 Information from Holder. It shall be a condition precedent to the obligations of the Company to take any action
pursuant to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of
disposition of such securities as shall be reasonably required to effect the registration of such Holder’s Registrable Securities. 
 1.7 Expenses of Registration. All expenses other than underwriting discounts and commissions incurred in connection with registrations, filings or qualifications pursuant to Sections 1.2, 1.3
and 1.4, including (without limitation) all registration, filing and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of one counsel for the selling
Holders shall be borne by the Company. Notwithstanding the foregoing, the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 1.2 or Section 1.4 if the registration request is
subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities requested to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities
that were to be included in the withdrawn registration), unless, in the case of a registration requested under Section 1.2, the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant
to Section 1.2 and provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business or prospects of the Company from that known to the Holders at the time of their
request and have withdrawn the request with reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to
Section 1.2 or Section 1.4. 
 1.8 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 
 1.9 Indemnification. In the event any Registrable Securities are included in a registration statement under this Section 1:

 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, officers,
directors and stockholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the
1934 Act, against any expenses (including, without limitation, attorneys’ fees and expenses) losses, claims, damages or liabilities (joint or several) to which they may become subject under the Act, the 1934 Act, any state securities laws or
any rule or regulation promulgated under the Act, the 1934 Act or any such state securities laws, insofar as such expenses, losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are

  

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based upon any of the following statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact
contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state in such registration statement a
material fact required to be stated therein, or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation
promulgated under the Act, the 1934 Act or any state securities laws, and the Company will reimburse each such Holder, underwriter, controlling person or other aforementioned person for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this subsection l.9(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case
for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such
registration by any such Holder, underwriter, controlling person or other aforementioned person; provided, further, that the foregoing indemnity agreement with respect to any preliminary prospectus shall not inure to the benefit of any
Holder or underwriter or other aforementioned person, or any person controlling such Holder or underwriter, from whom the person asserting any such losses, claims, damages or liabilities purchased shares in the offering, if a copy of the most
current prospectus was not sent or given by or on behalf of such Holder or underwriter or other aforementioned person to such person, if required by law to have been so delivered, at or prior to the written confirmation of the sale of the shares to
such person, and if the prospectus (as so amended or supplemented) would have cured the defect giving rise to such loss, claim, damage or liability. 
 (b) To the extent permitted by law, each selling Holder will indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if
any, who controls the Company within the meaning of the Act, legal counsel and accountants for the Company, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any such underwriter or
other Holder, against any expenses (including, without limitation, attorneys’ fees and expenses), losses, claims, damages or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act,
any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, insofar as such expenses, losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon
any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such
Holder will reimburse any person intended to be indemnified pursuant to this subsection l.9(b) for any legal or other expenses reasonably incurred by such person in connection with investigating or defending any such loss, claim, damage, liability
or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this subsection l.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if
such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld), and provided that in no event shall any indemnity under this subsection l.9(b) exceed the net proceeds from the offering received
by such Holder. 
  

 12 

 (c) Promptly after receipt by an indemnified party under this Section 1.9 of notice of
the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.9, deliver to the indemnifying party a written
notice of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof
with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one
separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests
between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially
prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 1.9, but the omission to so deliver written notice to the indemnifying party will not relieve
it of any liability that it may have to any indemnified party otherwise than under this Section 1.9. 
 (d) If the
indemnification provided for in this Section 1.9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying
party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect
the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand in connection with the statements or omissions that resulted in such expense, loss, liability, claim, damage or expense, as well as any other
relevant equitable considerations; provided, however, that no contribution by any Holder, when combined with any amounts paid by such Holder pursuant to Section 1.9(b), shall exceed the net proceeds from the offering received by
such Holder. The relative fault of the indemnifying party and the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. 
 (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
 (f) The obligations of the Company and Holders under this Section 1.9 shall survive the completion of any offering of Registrable
Securities in a registration statement under this Section 1 and otherwise. 
  

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 1.10 Reports Under the 1934 Act. With a view to making available to the Holders the
benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to:

 (a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times
after the effective date of the Initial Offering; 
 (b) file with the SEC in a timely manner all reports and other documents
required of the Company under the Act and the 1934 Act; and 
 (c) furnish to any Holder, so long as the Holder owns any
Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144 (at any time after 90 days after the effective date of the first registration statement
filed by the Company), the Act and the 1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so
qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to avail any Holder of any
rule or regulation of the SEC that permits the selling of any such securities without registration or pursuant to such form. 
 1.11 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or
assignee of such securities that (i) is a subsidiary, parent, affiliate, member, limited or general partner, or stockholder of a Holder or an investment entity in which such Investor is a member or a limited or general partner, (ii) is a
venture capital fund or investment fund that is controlled by or under common control with one or more general partners or managing members of such Holder, (iii) is a Holder’s family member or trust for the benefit of an individual Holder,
or (iv) after such assignment or transfer, holds at least 100,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations or the like), provided: that (a) the Company is,
within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or
assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including, without limitation, the provisions of Section 1.13 below; and (c) such assignment shall be effective only if immediately
following such transfer the further disposition of such securities by the transferee or assignee is restricted under the Act. 
 1.12 Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities, enter into any
agreement with any holder or prospective holder of any securities of the Company that would allow such holder or prospective holder (a) to include any of such securities in any registration filed under Section 1.2, Section 1.3 or
Section 1.4 hereof, unless under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such

  

 14 

 
securities will not reduce the amount of the Registrable Securities of the Holders that are included or (b) to demand registration of their securities. Notwithstanding the foregoing, no such
consent shall be required for the Company to enter into the Allocation Agreement. 
 1.13 “Market Stand-Off”
Agreement. 
 (a) Each Holder hereby agrees that, without the prior written consent of the managing underwriter, during the
period of duration specified by the Company and an underwriter of common stock or other securities of the Company, following the date of the first sale to the public pursuant to a registration statement of the Company filed under the 1933 Act, it
shall not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of
(other than to donees who agree to be similarly bound) any securities of the Company held by it immediately prior to the effectiveness of the registration statement for such offering except common stock included in, or acquired after, such
registration; provided, however, that: 
 (i) such agreement shall be applicable only to the first such
registration statement of the Company which covers common stock (or other securities) to be sold on its behalf to the public in an underwritten offering and shall not apply to the sale of any shares to an underwriter pursuant to an underwriting
agreement or to any shares purchased or sold after the Initial Offering that are not otherwise subject to similar restrictions; 
 (ii) all officers, directors and stockholders holding at least 3% of the outstanding Common Stock (or stockholders with smaller percentages if required by the underwriters) of the Company enter into similar agreements; and 
 (iii) such market stand-off time period shall not exceed 180 days from the effective date of the Initial Offering or, if required by such
underwriter, such longer period of time as is necessary to enable such underwriter to issue a research report or make a public appearance that relates to an earnings release or announcement by the Company within 15 days before or after the date that
is 180 days after the effective date of the registration statement relating to such offering, but in any event not to exceed 210 days following the effective date of the registration statement relating to such offering. 
 (b) For purposes of this Section 1.13, the term “Company” shall include any wholly-owned subsidiary of the Company into
which the Company merges or consolidates. In order to enforce the foregoing covenant, the Company shall have the right to place the following restrictive legend on the certificates representing the shares subject to this Section and to impose stop
transfer instructions with respect to the Securities and such other Company securities of each Investor (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT
OF A PUBLIC OFFERING, AS SET FORTH IN A CERTAIN AGREEMENT BETWEEN THE ISSUER AND THE

  

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ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO AT LEAST 180 DAYS
AFTER THE EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES. 
 (c) Each Investor further agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing within any reasonable time frame so requested. 
 (d) Any discretionary waiver or termination of the restrictions of any or all such agreements by the Company or the underwriters shall
apply to all Holders subject to such agreements pro rata based on the number of shares subject to such agreements. 
 (e)
Notwithstanding the foregoing, the obligations described in this Section 1.13 shall not apply to a registration relating solely to employee benefit plans on Form S-1 under the Act or Form S-8 under the Act or similar forms which may be
promulgated in the future, or a registration relating solely to a Rule 145 transaction on Form S-4 under the Act or similar forms which may be promulgated in the future. 
 1.14 Termination of Registration Rights. No Holder shall be entitled to exercise any right provided for in this Section 1 (i) after five years following the consummation of the
Qualified IPO, or (ii) as to any Holder, such earlier time after the Initial Offering at which such Holder holds one percent (1%) or less of the Company’s outstanding Common Stock and all Registrable Securities held by such Holder
(together with any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold in any three (3)-month period without registration in compliance with Rule 144. 
 2. Covenants of the Company. 
 2.1 Delivery of Financial Statements. The Company shall deliver to each Investor (or transferee of an Investor) that holds (a) at least 1,500,000 shares of Registrable Securities or
(b) at least 806,500 shares of Series C-1 Preferred Stock or Series C-2 Preferred Stock (or shares of Common Stock issued or issuable upon conversion thereof) each as subject to appropriate adjustment for stock splits, stock dividends,
combinations or the like (a “Major Investor”): 
 (a) as soon as practicable, but in any event within 120 days
after the end of each fiscal year of the Company, or such later date approved by the Board, an income statement for such fiscal year, a balance sheet of the Company and statement of stockholders’ equity as of the end of such year, and a
statement of cash flows for such year, such year-end financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by independent public
accountants of nationally recognized standing selected by the Company; 
  

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 (b) as soon as practicable, but in any event within 45 days after the end of each of the
first three quarters of each fiscal year of the Company, an unaudited income statement and statement of cash flows for such fiscal quarter, an unaudited balance sheet as of the end of such fiscal quarter, a written analysis of the Company’s
actual financial performance as compared to the Company’s budget for such fiscal quarter, including commentary explaining any material variances, and written analysis of the Company’s compliance with its bank loan covenants, if any, for
such fiscal quarter; 
 (c) within 30 days of the end of each month, an unaudited income statement and statement of cash flows
and balance sheet for and as of the end of such month, in reasonable detail and compared against the Company’s operating plan; 
 (d) as soon as practicable, but in any event at least 30 days prior to the end of each fiscal year, a budget and operating plan for the next fiscal year, prepared on a monthly basis, including balance sheets, income statements and
statements of cash flows for such months and, as soon as prepared, any other budgets or revised budgets prepared by the Company; and 
 (e) such other information relating to the financial condition, business or corporate affairs of the Company as the Major Investor may from time to time request; provided, however, that the Company shall not be obligated under
this subsection (e) to provide information that it deems in good faith to be a trade secret or similar confidential information. 
 2.2 Inspection. The Company shall permit each Major Investor (provided that the Board has not reasonably determined that such Major Investor is a competitor of the Company), at such Major Investor’s expense, to visit and inspect
the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable times as may be requested by the Major Investor; provided,
however, that the Company shall not be obligated pursuant to this Section 2.2 to provide access to any information that it reasonably considers to be a trade secret or similar confidential information. 
 2.3 Termination of Information and Inspection Covenants. The covenants set forth in Section 2.1 and Section 2.2 shall
terminate and be of no further force or effect upon the consummation of a Qualified IPO. 
 2.4 Right of First Offer.
Subject to the terms and conditions specified in this Section 2.4, the Company hereby grants to each Holder that then holds shares of Preferred Stock or securities of the Company convertible into or exercisable for Preferred Stock (each, a
“Preferred Stockholder”) a right of first offer with respect to future sales by the Company of its Shares (as hereinafter defined). For purposes of this Section 2.4, the term “Preferred Stockholder” includes
any members, partners and affiliates of a Preferred Stockholder. A Preferred Stockholder shall be entitled to apportion the right of first offer hereby granted it among itself and its partners and affiliates in such proportions as it deems
appropriate. 
  

 17 

 Each time the Company proposes to offer any shares of, or securities convertible into or
exchangeable or exercisable for any shares of, any class or series of its capital stock (“Shares”), the Company shall first make an offering of such Shares to each Preferred Stockholder in accordance with the following provisions:

 (a) The Company shall deliver a notice in accordance with Section 3.5 (“Notice”) to the Preferred
Stockholders stating (i) its bona fide intention to offer such Shares, (ii) the number of such Shares to be offered, and (iii) the price and terms upon which it proposes to offer such Shares. 
 (b) By written notification received by the Company within 30 calendar days after the giving of Notice, each Preferred Stockholder may
elect to purchase, at the price and on the terms specified in the Notice, up to that portion of such Shares that equals the proportion that the number of shares of Common Stock issued and beneficially held, or issuable upon conversion of the
Preferred Stock then held, by such Preferred Stockholder bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all convertible and exercisable securities then outstanding (other
than the Lender Series F Warrant if the Lender Series F Warrant is not then exercisable)). The Company shall promptly, in writing, inform each Preferred Stockholder that elects to purchase all the shares available to it (a “Fully-Exercising
Preferred Stockholder”) of any other Preferred Stockholder’s failure to do likewise. During the ten-day period commencing after such information is given, each Fully-Exercising Preferred Stockholder may elect to purchase that portion
of the Shares for which Stockholders were entitled to subscribe, but which were not subscribed for by the Preferred Stockholders, that is equal to the proportion that the number of shares of Common Stock issued and beneficially held, or issuable
upon conversion of the Preferred Stock then held, by such Fully-Exercising Preferred Stockholder bears to the total number of shares of Common Stock issued and beneficially held, or issuable upon conversion of the Preferred Stock then held, by all
Fully-Exercising Preferred Stockholders who wish to purchase some of the unsubscribed shares. 
 (c) If all Shares that
Preferred Stockholders are entitled to obtain pursuant to subsection 2.4(b) are not elected to be obtained as provided in subsection 2.4(b) hereof, the Company may, during the 90 day period following the expiration of the period provided
in subsection 2.4(b) hereof, offer the remaining unsubscribed portion of such Shares to any person or persons at a price not less than that, and upon terms no more favorable to the offeree than those, specified in the Notice. If the Company
does not enter into an agreement for the sale of the Shares within such period, or if such agreement is not consummated within 60 days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be
offered unless first reoffered to the Preferred Stockholders in accordance herewith. 
 (d) The right of first offer in this
Section 2.4 shall not be applicable to (i) the issuance or sale of shares of Common Stock (or options therefor) to employees, directors, consultants and other service providers for the primary purpose of soliciting or retaining their
services pursuant to plans or agreements approved by the Board, (ii) the issuance of securities pursuant to the conversion of Preferred Stock and upon the conversion or exercise of convertible or exercisable securities outstanding as of the
date hereof, (iii) the issuance of securities in connection with a bona fide business acquisition of or by the Company, whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise, (iv) the issuance of

  

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securities in connection with any stock split, stock dividend, recapitalization or similar event, (v) the issuance of securities to lease companies, real estate lessors, venture lenders,
manufacturing facility lenders, banks or financial institutions in connection with commercial credit arrangements, venture loans, facility financings, equipment financings, leases or similar transactions, provided such issuances are for other than
primarily equity financing purposes, and in each case, has been approved by the Board, (vi) the issuance or sale of up to 303,580 shares of Common Stock, as adjusted for any stock dividends, combinations, splits, recapitalizations or the like
on, of or affecting such Common Stock, to RockPort Capital Partners II, L.P. pursuant to that certain option agreement dated as of November 30, 2006, (vii) the issuance of Series F Stock (and the subsequent issuance of Common Stock upon
conversion of Series F Stock) pursuant to the Series F Agreement, (viii) the issuance of the Warrants, or (viii) the issuance of Warrant Stock upon exercise of the Warrants. In addition to the foregoing, the right of first offer in this
Section 2.4 shall not be applicable with respect to any Preferred Stockholder in any subsequent offering of Shares if (i) at the time of such offering, the Preferred Stockholder is not an “accredited investor,” as that term is
then defined in Rule 501(a) of the Act and (ii) such offering of Shares is otherwise being offered only to accredited investors. 
 (e) The rights provided in this Section 2.4 may not be assigned or transferred by any Preferred Stockholder; provided, however, that a Preferred Stockholder that is a venture capital fund or investment fund may assign or
transfer such rights to (i) a subsidiary, parent, general or limited partner, member or stockholder of such Preferred Stockholder or an investment entity in which such Preferred Stockholder is a member or a limited or general partner, or
(ii) a venture capital fund or investment fund that is controlled by or under common control with one or more general partners or managing members of such Preferred Stockholder. 
 2.5 Proprietary Information and Inventions Agreements. The Company shall require all of its employees, and all of its consultants
with access to confidential information of the Company, to execute and deliver a Proprietary Information and Inventions Agreement or Consulting Agreement in substantially the form approved by the Chief Executive Officer of the Company. 

2.6 Employee Agreements. Unless otherwise approved by the Board (including such approvals by the Compensation Committee of the
Board acting pursuant to authority delegated by the Board), all future employees of the Company who shall purchase, or receive options to purchase, shares of the Company’s Common Stock following the date hereof shall be required to execute
stock purchase or option agreements providing for (i) vesting of shares over a four-year period with no more than the first 25% of such shares vesting following 12 months of continued employment or services, and the remaining shares vesting in
equal monthly installments over the following 36 months thereafter and (ii) a lock-up period in connection with the Company’s initial public offering consistent with Section 1.13 herein. The Company shall retain a right of first
refusal on transfers of the Company’s Common Stock (other than Common Stock issued or issuable upon conversion of the Company’s Preferred Stock) until the Company’s initial public offering and the right to repurchase unvested shares
at cost. 
 2.7 Insurance. The Company shall maintain term “key-person” insurance on Christian Gronet from one
or more financially sound and reputable insurers in the amount of $1,000,000 until such time as the Board determines that such insurance should be discontinued.

  

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The “key person” policy shall name the Company as loss payee and such policy shall not be cancelable by the Company without prior approval of the Board. In addition, the Company shall
maintain Directors and Officers Errors and Omissions insurance from financially sound and reputable insurers in an aggregate amount of at least $2,000,000 until such time as the Board determines that such insurance should be discontinued. Such
policy shall not be cancelable by the Company without prior approval of the Board. 
 2.8 Special Relationships. Without
the prior unanimous approval of the Board, the Company shall not make an offer or decision to hire any individual who is a family member of an officer of the Company. 
 2.9 Key Employee Addresses. If the Company currently knows or subsequently learns that any officer of the Company has his or her principal place of residence in a location further than 40 miles
from the headquarters of the Company, the Company shall promptly thereafter inform the Investors of such fact. 
 2.10
Termination of Certain Covenants. The covenants set forth in Section 2.4 shall terminate and be of no further force or effect immediately prior to the consummation of a Qualified IPO. The covenants set forth in Sections 2.5, 2.6, 2.7,
2.8 and 2.9 shall terminate and be of no further force or effect (i) immediately prior to the consummation of a Qualified IPO or (ii) immediately prior to the actual or deemed liquidation, dissolution or winding up of the Company under the
Company’s Eighth Amended and Restated Certificate of Incorporation (as maybe amended and/or restated from time to time). 
 2.11 KKR Financial Corp. Observer Rights. Until consummation of a Qualified IPO, KKR Financial Corp. (“KKR”), subject to the qualifications below, shall have the right, on behalf of itself and its affiliates, to send
a representative, who shall be mutually agreed upon by the Company and KKR, (without voting rights) to each meeting (including telephonic meetings) of the Board. Subject to the provisions of the proviso below, the Company shall give KKR notice of
each such meeting (including telephonic meetings) in the form and manner such notice is given to the Company’s directors and the same materials as and when provided to the Company’s directors. The Company agrees to provide KKR with copies
of all actions by written consent as soon as reasonably practicable upon effectuation of such action. Such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided to the
same extent as would be applicable to such representative if such representative were a member of the Board; and, provided, notwithstanding the foregoing, the Company shall have the right to withhold any information and to exclude such
representative from any meeting or portion thereof if access to such information or attendance at such meeting, or portion thereof, would be likely to, in the judgment of the Company’s counsel, adversely affect the Company’s right or
ability to assert the attorney-client privilege between the Company and its counsel regarding such information or the matters discussed at such meeting or portion thereof. The Company further agrees to reimburse KKR for all reasonable expenses
related to its observer rights set forth above. 
  

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 3. Miscellaneous. 
 3.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 3.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware, without regard to
principles of conflicts of law. 
 3.3 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 3.4 Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 3.5 Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be
notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set
forth on Schedule A hereto, Schedule B hereto, Schedule C hereto, Schedule D hereto, Schedule E hereto, Schedule F hereto, Schedule G hereto, Schedule H hereto, or Schedule I hereto as
the case may be (or at such other addresses as shall be specified by notice given in accordance with this Section 3.5). 
 3.6 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in
addition to any other relief to which such party may be entitled. 
 3.7 Entire Agreement; Amendments and Waivers. This
Agreement constitutes the full and entire understanding and agreement among the parties with regard to the subjects hereof and thereof and supersedes any and all prior understandings and agreements, written or oral, between or among the parties
hereto with respect to the specific subject matter hereof. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or
prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities then outstanding; provided, however, that in the event that such amendment or waiver adversely affects the
obligations or rights of any Holder or group of

  

 21 

 
Holders (such as the Common Holder(s) or Major Investors) in a manner that is materially different and adverse from the manner in which such amendment or waiver affects the obligations and rights
of all other Holders, such amendment or waiver shall also require the written consent of such differently affected Holder or group of Holders. Notwithstanding the foregoing, (a) Section 2.11 shall not be amended without the mutual consent
of the Company and KKR, and (b) in the event the Company sells shares of Series F Preferred Stock pursuant to the Series F Agreement to an investor who is not already a party to this Agreement, such investor shall become a party to this
Agreement as an “Investor” and a “Holder,” without the consent of the other parties hereto, upon the Company’s receipt from such investor of an executed counterpart signature page to this Agreement, and Schedule H
hereto may be amended by the Company from time to time to add such additional Investor without the consent of the other parties hereto. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any
Registrable Securities, each future holder of all such Registrable Securities, and the Company. 
 3.8 Severability. If
one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision(s) shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision(s) were so excluded and
shall be enforceable in accordance with its terms, and the parties shall negotiate, in good faith, a legal and enforceable suitable provision which most nearly effects the parties’ intent in entering into this Agreement. 
 3.9 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities (including, without
limitation, affiliated venture capital funds and/or investment funds) or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 
 3.10 Specific Enforcement. It is agreed and understood that monetary damages would not adequately compensate an injured party for the
breach of this Agreement by any other party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order.
Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 
 3.11 Termination of Sixth Amended Rights Agreement. The Sixth Amended Rights Agreement is hereby amended and superseded in its entirety and restated by this Agreement. All provisions of, rights granted and covenants made in the Sixth
Amended Rights Agreement are hereby waived and released and superseded in their entirety and shall have no further force or effect. 
 3.12 Termination of Series F Agreement. If the Series F Agreement terminates prior to Closing (as defined therein) pursuant to the terms thereof, Investors who are not Prior Investors shall be deemed to no longer be a party to this
Agreement and shall have no rights hereunder, and the Company and the Prior Investors shall have no obligations hereunder to such Investors. 
 [Remainder of Page Intentionally Left Blank] 
  

 22 

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	SOLYNDRA, INC.
		
	By: 	 	 /s/ W.G. Stover, Jr.

	Name:	 	W.G. Stover, Jr.
	Title:	 	 Vice President, Finance and
 Chief Financial Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	AMP CAPITAL INVESTORS LTD (ABN 59 001 777 591), AS TRUSTEE FOR THE FUTURE DIRECTIONS PRIVATE EQUITY FUND 1A, BY ITS UNDERSIGNED ATTORNEYS (WHO HAVE NOT RECEIVED
NOTICE OF THE REVOCATION OF THE POWER OF ATTORNEY DATED THE 22 DAY OF MARCH 2006 UNDER THE AUTHORITY OF WHICH THIS INSTRUMENT HAS BEEN SIGNED IN SYDNEY THIS 05 DAY OF AUGUST, 2009)
		
	By:	 	 /s/ Prudence Milne

	Name:	 	 Prudence Milne

	Title:	 	 Executive Legal Counsel

		
	By:	 	 /s/ Andrew Windsor

	Name:	 	 Andrew Windsor

	Title:	 	 Operations Manager – Private Equity

			
		
	Witnessed By:	 	 /s/ Jemma Flannery

			
	Name:	 	 Jemma Flannery

	Title:	 	 Executive Assistant

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	AMP CAPITAL INVESTORS LTD (ABN 59 001 777 591), AS TRUSTEE FOR THE FUTURE DIRECTIONS PRIVATE EQUITY FUND 1B, BY ITS UNDERSIGNED ATTORNEYS (WHO HAVE NOT RECEIVED
NOTICE OF THE REVOCATION OF THE POWER OF ATTORNEY DATED THE 22 DAY OF MARCH 2006 UNDER THE AUTHORITY OF WHICH THIS INSTRUMENT HAS BEEN SIGNED IN SYDNEY THIS 05 DAY OF AUGUST, 2009)
		
	By:	 	 /s/ Prudence Milne

	Name:	 	 Prudence Milne

	Title:	 	 Executive Legal Counsel

		
	By:	 	 /s/ Andrew Windsor

	Name:	 	 Andrew Windsor

	Title:	 	 Operations Manager – Private Equity

			
		
	Witnessed By:	 	 /s/ Jemma Flannery

			
	Name:	 	 Jemma Flannery

	Title:	 	 Executive Assistant

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	ARGONAUT VENTURES I, L.L.C.
		
	By:	 	Argonaut Private Equity, L.L.C., its Manager
		
	By:	 	 /s/ Steve Mitchell

	Name:	 	Steve Mitchell
	Title:	 	Managing Director

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 ARTIS PARTNERS, L.P.
 ARTIS PARTNERS 2X, L.P.
 ARTIS PARTNERS (INSTITUTIONAL), LP
 ARTIS PARTNERS 2X (INSTITUTIONAL), L.P.
 ARTIS AGGRESSIVE GROWTH, L.P.

		
	By:	 	Artis Capital Management, L.P.
	Its:	 	General Partner for Each Fund:
		
	By:	 	 /s/ Todd Moodey

	Name:	 	Todd Moodey
	Title:	 	Chief Operating Officer
	
	 ARTIS PARTNERS LTD.
 ARTIS PARTNERS 2X LTD.
 ARTIS AGGRESSIVE GROWTH MASTER
 FUND, L.P.

		
	By:	 	Artis Capital Management, L.P.
	Its:	 	 Investment Adviser and Attorney-In-Fact for
 Each Fund

		
	By:	 	 /s/ Todd Moodey

	Name:	 	Todd Moodey
	Title:	 	Chief Operating Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	BELTEST SHIPPING COMPANY LIMITED
		
	By:	 	 /s/ S.N. Zouvelos

	Name:	 	 S.N. Zouvelos

	Title:	 	 General Manager

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	COMMON HOLDERS:
		
	By:	 	 /s/ Christian Gronet

		 	Christian Gronet
		
	By:	 	  

		 	James Kelly Truman
		
	By:	 	 /s/ Benjamin Bierman

		 	Benjamin Bierman

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	CMEA VENTURES VI, L.P.
		
	By:	 	 /s/ James Watson

	Name:	 	 James Watson

	Title:	 	 General Partner

	
	CMEA VENTURES VI, L.P., GMBH & CO. K.P.
		
	By:	 	CMEA Ventures VI Management, L.P.
	Its:	 	Managing Limited Partner
		
	By:	 	 /s/ James Watson

	Name:	 	 James Watson

	Title:	 	 General Partner

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	CMEA Ventures VII, L.P.
		
	By:	 	 /s/ James Watson

	Name:	 	 James Watson

	Title:	 	 General Partner

	
	CMEA VENTURES VII (Parallel), L.P.
		
	By:	 	 /s/ James Watson

	Name:	 	 James Watson

	Title:	 	 General Partner

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	GIRASOLE PARTNERS LLC
		
	By:	 	 /s/ Joseph L. Parker, Jr.

	Name:	 	Joseph L. Parker, Jr.
	Title:	 	Manager and Member

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	GKFF Investment Company, LLC
		
	By:	 	 /s/ Steve Mitchell

	Name:	 	Steve Mitchell
	Title:	 	Managing Director

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	HBA HOLDINGS, LLC
		
	By:	 	 /s/ James F. Adelson

	Name:	 	James F. Adelson
	Title:	 	Manager

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	HOWARD HUGHES MEDICAL INSTITUTE
		
	By:	 	 /s/ Landis Zimmerman

	Name:	 	Landis Zimmerman
	Title:	 	Vice President & Chief Investment Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	HORNTHAL INVESTMENT PARTNERS
		
	By:	 	 /s/ Jim Hornthal

	Name:	 	Jim Hornthal
	Title:	 	Chairman, Hornthal & Co., Inc.
		 	General Partner

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 HSH NORDBANK AG, CAYMAN
 ISLANDS BRANCH

		
	By:	 	 /s/ Charles J. Lansdown

	Name:	 	 Charles J. Lansdown

	Title:	 	 Senior Vice President

	
	 HSH NORDBANK AG, CAYMAN
 ISLANDS BRANCH

		
	By:	 	 /s/ [ILLEGIBLE]

	Name:	 	  

	Title:	 	  

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	JAMES GIBBONS
		
	By:	 	 /s/ James Gibbons

	Name:	 	James Gibbons

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	KC-SOLAR, LLC
		
	By:	 	 /s/ Wellford Tabor

	Name:	 	Wellford Tabor
	Title:	 	Managing Member

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	KEYWORD COMPANY LIMITED
		
	By:	 	 /s/ [ILLEGIBLE]  /s/ [ILLEGIBLE]

	Name:	 	 For and On Behalf of Derard Ltd - Director

	By:	 	 Director

  

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	KFN PEI VIII, LLC
	
	By: KKR Financial Advisors L.L.C., not individually but solely in its capacity as investment manager for KKR Financial Corp.
		
	By:	 	 /s/ Roshan Chagan

	Name:	 	 Roshan Chagan

	Title:	 	 Authorized Signatory

	
	KKR STRATEGIC CAPITAL FUND, L.P.
	
	By: KKR Strategic Capital Management, L.L.C., not individually but solely in its capacity as investment manager for KKR Strategic Capital Fund, L.P.
		
	By:	 	 /s/ Andrew J. Sossen

	Name:	 	 Andrew J. Sossen

	Title:	 	 Authorized Signatory

  

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 KKR STRATEGIC CAPITAL OVERSEAS
 FUND, LTD.

	
	 By: KKR Strategic Capital Management,
 L.L.C., not individually but solely in its
 capacity as investment manager for KKR
 Strategic Capital Overseas Fund, Ltd.

		
	By:	 	 /s/ Roshan Chagan

	Name:	 	 Roshan Chagan

	Title:	 	 Authorized Signatory

	
	 KKR STRATEGIC CAPITAL INSTITUTIONAL
 FUND, LTD.

	
	 By: KKR Strategic Capital Management,
 L.L.C., not individually but solely in its
 capacity as investment manager for KKR
 Strategic Capital Institutional Fund, Ltd.

		
	By:	 	 /s/ Andrew J. Sossen

	Name:	 	 Andrew J. Sossen

	Title:	 	 Authorized Signatory

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	LENOX INVESTMENTS, L.L.C.
		
	By:	 	 /s/ Paul D. Wilson

	Name:	 	Paul D. Wilson
	Title:	 	Manager

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	MADRONE PARTNERS, L.P.
		
	By:	 	Madrone Capital Partners, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ Jameson McJunkin

	Name:	 	Jameson McJunkin
	Title:	 	Managing Member

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 MAPLE AVE. INVESTORS IN
 SOLYNDRA, LLC

		
	By:	 	 /s/ James Carreker

	Name:	 	James Carreker
	Title:	 	President

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	OZ EUROPE MASTER FUND, LTD.
	
	By: OZ Management LP, its Investment Manager
	By: Och-Ziff Holding Corp., its General Partner
		
	By:	 	 /s/ Joel Frank

	Name:	 	Joel Frank
	Title:	 	Chief Financial Officer
	
	OZ MASTER FUND, LTD.
	
	By: OZ Management LP, its Investment Manager
	By: Och-Ziff Holding Corp., its General Partner
		
	By:	 	 /s/ Joel Frank

	Name:	 	Joel Frank
	Title:	 	Chief Financial Officer
	
	 OZ GLOBAL SPECIAL INVESTMENT
 MASTER FUND, LTD.

	
	By: OZ Advisors II LP, its General Partner
	By: Och-Ziff Holding Corp., its General Partner
		
	By:	 	 /s/ Joel Frank

	Name:	 	Joel Frank
	Title:	 	Chief Financial Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	PHIL FROHLICH
		
	By:	 	 /s/ Phil Frohlich

	Name:	 	Phil Frohlich

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	PINTO INVESTMENT PARTNERS, L.P.
		
	By:	 	PINTO GP, LIMITED
	Its:	 	General Partner
		
	By:	 	CIP GP, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ Robert K. Hatcher

	Name:	 	Robert K. Hatcher
	Title:	 	President and Chief Executive Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	RAYMOND J. SIMS
		
	By:	 	 /s/ Raymond J. Sims

	Name:	 	Raymond J. Sims

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	REDPOINT VENTURES II, L.P.
		
	By:	 	Redpoint Ventures II, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ John Walecka

	Name:	 	John Walecka
	Title:	 	Managing Director
	
	REDPOINT ASSOCIATES II, L.L.C.
		
	By:	 	Redpoint Ventures II, LLC
	Its:	 	Nominee
		
	By:	 	 /s/ John Walecka

	Name:	 	John Walecka
	Title:	 	Managing Director

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	ROCKPORT CAPITAL PARTNERS II, L.P
	
	By: Rockport Capital II, L.L.C., its General Partner
		
	By:	 	 /s/ David J. Prend

	Name:	 	 David J. Prend

	Title:	 	 Managing Member

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	ROCKPORT CAPITAL PARTNERS III, L.P
		
	By:	 	
		
	By:	 	 /s/ David J. Prend

	Name:	 	 David J. Prend

	Title:	 	 Managing Member

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	SERA SOLAR CORPORATION
		
	By:	 	 /s/ James F. Gibbons

	Name:	 	James F. Gibbons
	Title:	 	Chief Executive Officer

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	STACY FAMILY TRUST
		
	By:	 	 /s/ Stacy Schusterman

	Name:	 	Stacy Schusterman
	Title:	 	Co-Trustee

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	SUNBIRD LP
		
	By:	 	EWR Investments, Inc.
	Its:	 	
		
	By:	 	 /s/ Debbie Crady

	Name:	 	Debbie Crady
	Title:	 	Vice President

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	U.S. Venture Partners X, L.P.
	USVP X Affiliates, L.P.
	By Presidio Management Group X, L.L.C.
	The General Partner of Each
		
	By:	 	 /s/ Michael P. Maher

		 	Michael P. Maher, Attorney-In-Fact
	
	U.S. Venture Partners IX, L.P.
	By Presidio Management Group IX, L.L.C.
	Its General Partner
		
	By:	 	 /s/ Michael P. Maher

		 	Michael P. Maher, Attorney-In-Fact
	
	U.S. Venture Partners VII, L.P.
	2180 Associates Fund VII, L.P.
	USVP Entrepreneur Partners VII-A, L.P.
	USVP Entrepreneur Partners VII-B, L.P.
	By Presidio Management Group VII, L.L.C.
	The General Partner of Each
		
	By:	 	 /s/ Michael P. Maher

		 	Michael P. Maher, Attorney-In-Fact

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	VENTURA VENTURES, LLC
		
	By:	 	 /s/ J.W. McKittrick

	Name:	 	J.W. McKittrick
	Title:	 	Managing Partner

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	VIRGIN GREEN FUND I, L.P.
		
	By:	 	VGF Partners I, L.P.
	Its:	 	General Partner
		
	By:	 	VGF I Limited
	Its:	 	General Partner
		
	By:	 	 /s/ Anup Jacob

	Name:	 	Anup Jacob
	Title:	 	Director

 IN WITNESS WHEREOF, the parties have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	ZEITGEIST CAPITAL LLC
		
	By:	 	 /s/ Michael E. Tregoning

	Name:	 	Michael E. Tregoning
	Title:	 	Chief Financial Officer

 Schedule A 
 SERIES A INVESTORS 
  

	
	 Name and Address of Series A Investors:
  

	 U.S. Venture Partners IX, L.P.
 Attn: Chief Financial Officer
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 CMEA Ventures VI, L.P.
 Attn: Meryl L. Schreibstein
 One Embarcadero Center, Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, GmbH & Co. K.G.
 Attn: Meryl L. Schreibstein
 One Embarcadero Center, Suite 3250
 San Francisco, CA 94111
  

	 Redpoint Ventures II, L.P.
 Attn: Lars Pedersen
 3000 Sand Hill Road 2-290
 Menlo Park, CA 94025
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road 2-290
 Menlo Park, CA 94025
  

  

 i 

 Schedule B 
 SERIES B INVESTORS 
  

	
	 Name and Address of Series B Investors:
  

	 Rockport Capital Partners II, L.P.
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	 Pinnacle Ventures II-A, L.P.
 130 Lytton Ave
 Suite 220
 Palo Alto, CA 94301
  

	 Pinnacle Ventures II-B, L.P.
 130 Lytton Ave
 Suite 220
 Palo Alto, CA 94301
  

	 Pinnacle Ventures II-C, L.P.
 130 Lytton Ave
 Suite 220
 Palo Alto, CA 94301
  

	 Pinnacle Ventures II-R, L.P.
 130 Lytton Ave
 Suite 220
 Palo Alto, CA 94301
  

	 CMEA Ventures VI, L.P.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, L.P., GMBH & CO. K.G.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 Redpoint Ventures II, L.P.
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

  

 ii 

	
	 Name and Address of Series B Investors:
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 U.S. Venture Partners IX, L.P.
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 Argonaut Ventures I, L.L.C.
 155 Bodwell Street
 Avon, MA 02322
  

	 KFN PEI VIII, LLC
 555 California Street
 50th Floor
 San Francisco, CA 94104
  

	 KKR Strategic Capital Fund, L.P.
 555 California Street
 50th Floor
 San Francisco, CA 94104
  

	 KKR Strategic Capital Overseas Fund, Ltd.
 555 California Street
 50th Floor
 San Francisco, CA 94104
  

	 KKR Strategic Capital Institutional Fund, Ltd.
 555 California Street
 50th Floor
 San Francisco, CA 94104
  

	 Madrone Partners, L.P.
 c/o Madrone Capital Partners
 3000 Sand Hill Road
 Building 2, Suite 150
 Menlo Park, CA 94025
  

  

 iii 

 Schedule C 
 SERIES C-1 INVESTORS 
  

	
	 Name and Address of Series C-1 Investors:
  

	 Masdar Clean Tech Fund, L.P.
 c/o Credit Suisse
 Attn: Jason Karlinsky
 Eleven Madison Avenue, 16th Floor
 New York, New York 10010
 Tel: (212) 325-2266

 Fax: (646) 935-7499
 Email:
jason.karlinsky@credit-suisse.com
  

	 VIRGIN GREEN FUND I, L.P.
 Walkers House
 87 Mary Street
 George Town
 Grand Cayman KY1-9002
 Cayman Islands
  
 With a copy to:
  
 VGF Advisers (US) LLC
 27 South Park, Suite 200
 San Francisco, CA 94107
  

	 U.S. Venture Partners IX, L.P.
 Attn: Chief Financial Officer
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 CMEA Ventures VI, L.P.
 Attn: Meryl L. Schreibstein
 One Embarcadero Center, Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, GmbH & Co. K.G.
 Attn: Meryl L. Schreibstein
 One Embarcadero Center, Suite 3250
 San Francisco,
CA 94111
  

	 Redpoint Ventures II, L.P.
 Attn: Lars Pedersen
 3000 Sand Hill Road 2-290
 Menlo Park, CA 94025
  

	
	 Name and Address of Series C-1 Investors:
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road 2-290
 Menlo Park, CA 94025
  

	 Rockport Capital Partners II, L.P.
 Rockport Capital Partners
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	 Argonaut Ventures I, L.L.C.
 155 Bodwell Street
 Avon, MA 02322
  

	 KKR Financial Corp.
 555 California Street
 50th Floor

 San Francisco, CA 94104
  

	 KKR Strategic Capital Fund, L.P.
 555 California Street
 50th Floor

 San Francisco, CA 94104
  

	 KKR Strategic Capital Overseas Fund, Ltd.
 555 California Street
 50th Floor

 San Francisco, CA 94104
  

	 KKR Strategic Capital Institutional Fund, Ltd.
 555 California Street
 50th Floor
 San Francisco, CA 94104
  

	 Madrone Partners, L.P.
 c/o Madrone Capital Partners
 c/o Cooley Godward Kronish LLP
 3175 Hanover Street
 Palo Alto, CA 94306
  

	 HSH Nordbank AG, Cayman Islands Branch
 c/o
 HSH NORDBANK AG, New York Branch
 230 Park Avenue
 New York, NY 10169
  

	 Mr. Steve Kircher
 4080 Cavitt Stallman Road
 Suite 100
 Granite Bay CA 95746
  

 Schedule D 
 SERIES C-2 INVESTORS 
  

	
	 Name and Address of C-2 Investor:
  

	 VIRGIN GREEN FUND I, L.P.
 Walkers House
 87 Mary Street
 George Town
 Grand Cayman KY1-9002
 Cayman Islands
  
 With a copy to:
  
 VGF Advisers (US) LLC
 27 South Park, Suite 200
 San Francisco, CA 94107
  

	 Masdar Clean Tech Fund, L.P.
 c/o Credit Suisse
 Attn: Jason Karlinsky
 Eleven Madison Avenue, 16th Floor
 New York, New York 10010
 Tel: (212) 325-2266

 Fax: (646) 935-7499
 Email:
jason.karlinsky@credit-suisse.com
  

	 RockPort Capital Partners II, L.P.
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	 CMEA Ventures VI, L.P.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, L.P., GMBH & CO. K.G.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 Redpoint Ventures II, L.P.
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	
	 Name and Address of C-2 Investor:
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 U.S. Venture Partners IX, L.P.
 Attn: CFO
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 Argonaut Ventures I, L.L.C.
 6733 South Yale
 Tulsa, OK 74136
  

	 Artis Partners Ltd.
 c/o Artis Capital Management, L.P.
 One Market Plaza
 Spear Street Tower, Suite 1700
 San Francisco, CA 94105
  

	 Artis Partners, L.P.
 c/o Artis Capital Management, L.P.
 One Market Plaza
 Spear Street Tower, Suite 1700
 San Francisco, CA 94105
  

	 OZ Europe Master Fund, Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:       Joel Frank
                        Rick Lyon
  

	
	 Name and Address of C-2 Investor:
  

	 OZ Master Fund, Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	 OZ Global Special Investment Master Fund
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands

 
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	 Legend Trading S.A
 c/o Maria Dimitrou
 Iassonos 3
 18537 Athens
 Greece
  

	 Beltest Shipping Company Limited
 P.O.Box 51161
 GR-145 10, Kifissia
 Greece
  

	 Plainfield Special Situations Master Fund Limited
 c/o Plainfield Asset Management LLC
 55 Railroad Ave, Plaza Level
 Greenwich, CT 06830

  

 Schedule E 
 SERIES D INVESTORS 
  

	
	 Name and Address of Series D Investor:
  

	 Argonaut Ventures I, L.L.C.
 6733 South Yale
 Tulsa, OK 74136
  

	 CMEA Ventures VI, L.P.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, L.P., GMBH & CO. K.G.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 Masdar Clean Tech Fund, L.P.
       c/o Credit Suisse
 Attn: Jason Karlinsky
 Eleven Madison Avenue, 16th
Floor
 New York, New York 10010
 Tel:
(212) 325-2266
 Fax: (646) 935-7499
 Email: jason.karlinsky@credit-suisse.com
  

	 OZ Europe Master Fund, Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	
	 Name and Address of Series D Investor:
  

	 OZ Master Fund, Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	 OZ Global Special Investment Master Fund
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands

 
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	 Redpoint Ventures II, L.P.
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 U.S. Venture Partners IX, L.P.
 Attn: CFO
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

 Schedule F 
 BRIDGE INVESTORS 
  

	
	 Name and Address of Bridge Investor:
  

	 Argonaut Ventures I, L.L.C.
 6733 South Yale
 Tulsa, OK 74136
  

	 Beltest Shipping Company Limited
 P.O.Box 51161
 GR-145 10, Kifissia
 Greece
  

	 CMEA Ventures VI, L.P.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VI, L.P., GmbH & Co. K.G.
 One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 Madrone Partners, L.P.
 c/o Cooley Godward Kronish LLP
 3175 Hanover Street
 Palo Alto, CA 94306
  

	 Plainfield Special Situations Master Fund Limited
 c/o Plainfield Asset Management LLC
 55 Railroad Ave, Plaza Level
 Greenwich, CT 06830

  

	 Redpoint Ventures II, L.P.
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road
 Building 2, Suite 290
 Menlo Park, CA 94025
  

	 RockPort Capital Partners II, L.P.
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	
	 RockPort Capital Partners III, L.P.
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	 U.S. Venture Partners IX, L.P.
 Attn: CFO
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 VIRGIN GREEN FUND I, L.P.
 Walkers House
 87 Mary Street
 George Town
 Grand Cayman KY1-9002
 Cayman Islands
  
 With a copy to:
  
 VGF Advisers (US) LLC
 27 South Park, Suite 200
 San Francisco, CA 94107
  

 Schedule G 
 SERIES E INVESTORS 
  

	
	 Name and Address of Series E Investor:
  

	 Argonaut Ventures I, L.L.C.
 6733 South Yale
 Tulsa, OK 74136
  

	 Artis Partners, L.P.

 Artis Partners 2X, L.P.
 Artis Partners (Institutional), L.P.
 Artis Partners 2X (Institutional), L.P.
 Artis Partners Ltd.
 Artis Partners 2X
Ltd.
 c/o Artis Capital Management, L.P.
 One Market Plaza
 Spear Street Tower, Suite 1700
 San Francisco, CA 94105
  

	 Beltest Shipping Company Limited
 P.O.Box 51161
 GR-145 10, Kifissia
 Greece
  

	 CMEA Ventures VI, L.P.

 One Embarcadero Center
 Suite 3250

 San Francisco, CA 94111
  

	 CMEA Ventures VI, L.P., GmbH & Co. K.G.

One Embarcadero Center
 Suite 3250
 San Francisco, CA 94111
  

	 GKFF Investment Company, LLC
 6733 South Yale
 Tulsa, OK 74136
  

	 Madrone Partners, L.P.
 c/o Cooley Godward Kronish LLP
 3175 Hanover Street
 Palo Alto, CA 94306
  

	
	 Name and Address of Series E Investor:
  

	 Masdar Clean Tech Fund, L.P.
       c/o Credit Suisse
 Attn: Jason Karlinsky
 Eleven Madison Avenue, 16th Floor
 New York, New York 10010
 Tel: (212) 325-2266
 Fax: (646) 935-7499
 Email:
jason.karlinsky@credit-suisse.com
  

	 OZ Europe Master Fund,
Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	 OZ Master Fund, Ltd.
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour
Centre
 P.O. Box 896
 George Town,
Grand Cayman
 Cayman Islands
  
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York 10019
 Attention:    Joel Frank
  Rick Lyon
  

	 OZ Global Special Investment Master Fund
 c/o Goldman Sachs (Cayman) Trust, Ltd.
 Harbour Centre
 P.O. Box 896
 George Town, Grand Cayman
 Cayman Islands

 
 Notice Address:
  
 c/o Och-Ziff Capital Management
 9 West 57th Street, 39th Floor
 New York, New York
10019
 Attention:    Joel Frank
  Rick Lyon
  

	
	 Name and Address of Series E Investor:
  

	 Plainfield Special Situations Master Fund
Limited
 c/o Plainfield Asset Management LLC
 55 Railroad Ave, Plaza Level
 Greenwich, CT 06830
  

	 Redpoint Ventures II,
L.P.
 3000 Sand Hill Road
 Building
2, Suite 290
 Menlo Park, CA 94025
  

	 Redpoint Associates II, LLC
 3000 Sand Hill Road
 Building 2, Suite
290
 Menlo Park, CA 94025
  

	 RockPort Capital Partners
II, L.P.
 160 Federal Street
 18th
Floor
 Boston, MA 02110-1700
  

	 RockPort Capital Partners III, L.P.
 160 Federal Street
 18th Floor
 Boston, MA 02110-1700
  

	 U.S. Venture Partners IX,
L.P.
 Attn: CFO
 2735 Sand Hill
Road
 Menlo Park, CA 94025
  

	 VIRGIN GREEN FUND I, L.P.
 Walkers House
 87 Mary Street
 George Town
 Grand Cayman KY1-9002
 Cayman Islands
  
 With a copy to:
  
 VGF Advisers
(US) LLC
 27 South Park, Suite 200
 San
Francisco, CA 94107
  

 Schedule H 
 SERIES F INVESTORS 
  

	
	 Name and Address of Series F Investors:
  

	 Argonaut Ventures I, L.L.C.
  
 6733 South Yale
 Tulsa, Oklahoma 74136
  

	 Artis Partners, L.P.
 Artis Partners 2X, L.P.
 Artis Partners Ltd.
 Artis Partners 2X Ltd.
 Artis Partners (Institutional), LP
 Artis
Partners 2X (Institutional), L.P.
  
 One Market Plaza
 Steuart Street Tower
 Suite 2700
 San Francisco, CA 94105
  

	 CMEA Ventures VII, L.P.
  
 1 Embarcadero Center

Suite 3250
 San Francisco, CA 94111
  

	 CMEA Ventures VII (Parallel), L.P.
  
 1 Embarcadero Center

 Suite 3250
 San Francisco, CA 94111

  

	 Girasole Partners LLC
  
 4124 South Rockford
 Suite 201
 Tulsa, OK 74105
  

	 HBA Holdings, LLC
  
 3200 First National Tower
 Tulsa, OK 74103
  

	
	 Name and Address of Series F Investors:
  

	 Howard Hughes Medical Institute
  
 4000 Jones Bridge Road
 Chevy Chase, MD 20815
  

	 Hornthal Investment
Partners
  
 2234 Beach Street
 San Francisco, CA 94123
  

	 James Gibbons
  
 Redberry Ridge
 Portola Valley, CA 94028
  

	 KC-Solar,
LLC
  
 201 South College Street
 Suite 1440
 Charlotte, NC 28244
  

	 Keyword Company Limited
  
 Akara Building
 24 De Castro Street
 Wickhams Cay I
 Road Town
 Tortola
 British Virgin Islands
  
 With
a copy to:
  
 Keyword Company Limited
 Equity Trust House,
 28 - 30 The Parade,

St Helier,
 Jersey JE1 1EQ
  

	 Lenox Investments, L.L.C.
  
 2121 S. Columbia Ave

Suite 650
 Tulsa, OK 74114-3505
  

	
	 Name and Address of Series F Investors:
  

	 Madrone Partners, L.P.
  
 3000 Sand Hill Road
 Building 1, Suite 150
 Menlo Park, CA 94025
  

	 Maple Ave. Investors in
Solyndra, LLC
  
 3819 Maple Ave.
 Dallas, TX 75219
  

	 OZ Global Special Investments Master Fund, LP
  
 9 West 57th Street
 39
th Floor
 New York, NY 10019
 Attn: Joel Frank
          Rick Lyon
  

	 OZ Master Fund, Ltd.

  
 9 West 57th Street
 39
th Floor
 New York, NY 10019
 Attn: Joel Frank
          Rick Lyon
  

	 Phil Frohlich
  
 1924 South Utica, #1120
 Tulsa, OK 74104
  

	 Pinto Investment Partners,
L.P.
  
 1000 Main Street
 Suite 3250
 Houston, TX 77002
  

	 Raymond J. Sims
  
 1270 University Avenue
 Palo Alto, CA 94301
  

	 Redpoint Ventures II, L.P.
  
 300 Sand Hill Road

Building 2, Suite 290
 Menlo Park, CA
94025
  

	
	 Name and Address of Series F Investors:
  

	 Redpoint Associates II, L.L.C.
  
 300 Sand Hill
Road
 Building 2, Suite 290
 Menlo
Park, CA 94025
  

	 Rockport Capital Partners II, L.P.
  
 160 Federal St., 18
th Floor
 Boston, MA 02110-1700
  

	 Rockport Capital Partners III, L.P.
  
 160 Federal St., 18
th Floor
 Boston, MA 02110-1700
  

	 Sera Solar Corporation
  
 Redberry Ridge
 Portola Valley, CA 94028
  

	 Stacy Family Trust
  
 2 West 2nd Street, 20th Floor
 Tulsa, OK 74103
  

	 Sunbird LP
  
 2100 McKinney Ave.
 Suite 1780
 Dallas, TX 75201
  

	 U.S. Venture Partners VII, L.P.
 U.S. Venture Partners IX, L.P.
 U.S. Venture Partners X, L.P.
 USVP
Entrepreneur Partners VII-A, L.P.
 USVP Entrepreneur Partners VII-B, L.P.
 USVP X Affiliates, L.P.
 2180 Associates
Fund VII, L.P.
  
 2735 Sand Hill Road
 Menlo Park, CA 94025
  

	 Zeitgeist Capital LLC
  
 7557 Rambler Road
 Dallas, TX 75231
  

 Schedule I 
 COMMON HOLDERS 
  

	
	 Name and Address of Common Holder:
  

	 Christian Gronet
 1 Portola Green Circle
 Portola Valley, CA 94028
  

	 Benyamin Buller
 10379 Landsdale Avenue
 Cupertino, CA 95014
  

	 James Kelly Truman
 21347 NW 217th Drive
 High Springs, FL 32643
  

	 Benjamin Bierman
 47438 Cholla St
 Fremont, CA 94539
  

	 Jonathan Michael
 10363 Byrne Avenue
 Cupertino, CA 95014Warrant to purchase shares of Common Stock

 Exhibit 4.3 
 NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR
QUALIFIED UNDER ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION OF THIS WARRANT OR ANY SUCH SECURITIES MAY BE EFFECTED EXCEPT (i) PURSUANT TO EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) PURSUANT TO AN APPLICABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS, (iii) FOLLOWING RECEIPT OF NO- ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE IN COMPLIANCE WITH THE PROVISIONS OF SECTION 7 OF THIS
WARRANT. 
 NEITHER THE SALE OF THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN QUALIFIED WITH
THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM
QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS WARRANT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 
 SOLYNDRA, INC. 
 WARRANT TO PURCHASE SHARES 
 OF COMMON STOCK 
 THIS CERTIFIES THAT, for value received, HSH NORDBANK AG, NEW YORK BRANCH and its assignees are entitled to subscribe for and purchase
1,318,405 fully paid and nonassessable shares of Common Stock (as adjusted pursuant to Section 4 hereof, the “Shares”) of SOLYNDRA, INC., a Delaware corporation (the “Company”), at a price per share of $4.964 (such price and
such other price as shall result, from time to time, from the adjustments specified in Section 4 hereof is herein referred to as the “Warrant Price”), subject to the provisions and upon the terms and conditions hereinafter set forth.

 1. Term. 
 (a) Except as otherwise set forth in this Section 1, this Warrant is exercisable, in whole or in part, at any time (i) after December 31, 2008 and (ii) on or before 5:00 p.m. Pacific
Time on April 6, 2014. 
 (b) If the Company is merged or consolidated with any other corporation (other than a
wholly-owned subsidiary of the Company) or engages in any other transaction (including a merger or other reorganization) or a series of related transactions in which, in any such case, (i) the holders of the Company’s equity securities
immediately prior to such transaction or series of related transactions hold securities representing less than 50% of the voting power of the combined entity

 
immediately after such transaction or series of related transactions, (ii) the surviving entity does not assume other options or warrants of the Company, and (iii) at the time of such
event the effective price per share of Common Stock is at least three (3) times the exercise price hereof, then (A) the Company shall give the holder of this Warrant the notice described in Section 9(a) below, (B) if this
Warrant is not then exercisable, this Warrant shall immediately become exercisable in full and (C) this Warrant, and all rights to purchase Common Stock issuable upon exercise hereof, shall be deemed exercised immediately prior to the closing
of the transaction (or immediately prior to the closing of the last transaction in any such series of transactions), and (D) such deemed exercise shall be effected pursuant to the “net issuance” right provided for in
Section 9(d) hereof unless, prior to the date of such deemed exercise, the holder shall have delivered to the Company written notice of its intent to effect such deemed exercise pursuant to Section 2(i) hereof. 
 (c) If the Company is merged or consolidated with any other corporation (other than a wholly owned subsidiary of the Company) or engages in
any other transaction (including a merger or other reorganization) or a series of related transactions in which, in any such case, (i) the holders of the Company’s equity securities immediately prior to such transaction or series of
related transactions hold securities representing less than 50% of the voting power of the combined entity immediately after such transaction or series of related transactions, (ii) the surviving entity does not assume other options or warrants
of the Company, and (iii) at the time of such event the effective price per share of Common Stock is less than three (3) times the exercise price hereof, then (A) the Company shall give the holder of this Warrant the notice described
in Section 9(a) below, (B) if this Warrant is not then exercisable, this Warrant shall immediately become exercisable in full, (C) the holder hereof shall have the right to exercise this Warrant, and all rights to purchase
Common Stock issuable upon exercise hereof, immediately prior to the closing of the transaction (or immediately prior to the closing the last transaction in any such series of transactions). If the holder hereof does not elect its right to exercise
pursuant to clause (C) of the preceding sentence, this Warrant shall remain outstanding following consummation of the transaction or series of transactions and shall be adjusted pursuant to Section 4 of this Warrant. 
 2. Method of Exercise; Payment; Issuance of New Warrant. Subject to Section 1 hereof, the purchase right represented by
this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (i) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as
Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company (a “Wire
Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased, (ii) exercise of the “net issuance” right provided for in Section 9(d) hereof,
(iii) the surrender of their Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company which notice of exercise shall be
contingent upon the closing of the Company’s initial public offering of shares pursuant to an effective registration statement under the Securities Act of 1933. The person or persons in whose name(s) any certificate(s) representing shares of
Common Stock shall be issuable upon exercise of this Warrant shall be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be deemed
to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the Shares purchased shall be
delivered to the

  

 2 

 
holder hereof as soon as possible and in any event within thirty (30) days after such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the
portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the holder hereof as soon as possible and in any event within such 30-day period; provided, however, at such time as the
Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, if requested by the holder of this Warrant, the Company shall cause its transfer agent to deliver the certificate representing Shares issued upon
exercise of this Warrant to a broker or other person (as directed by the holder exercising this Warrant) within the time period required to settle any trade made by the holder after exercise of this Warrant. 
 3. Stock Fully Paid: Reservation of Shares. All Shares issued upon the exercise of this Warrant will, upon issuance pursuant to the
terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised,
the Company will at all times have authorized, and reserved for issuance upon exercise of this Warrant, a sufficient number of shares of its Common Stock to provide for the exercise of this Warrant. 
 4. Adjustment of Warrant Price and Number of Shares. The number and kind of securities purchasable upon the exercise of this Warrant,
and the Warrant Price, shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a) Reclassification. In case of any reclassification or change of securities of the class of securities issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par
value to par value, or as a result of a subdivision or combination), the Company shall duly execute and deliver to the holder of this Warrant a new Warrant (in form and substance satisfactory to the holder of this Warrant), so that the holder of
this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Common Stock theretofore
issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification or change, by a holder of the number of shares of Common Stock then purchasable under this
Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4. The provisions of this Section 4(a) shall similarly apply to
successive reclassifications and changes. 
 (b) Subdivision or Combination of Shares. If the Company, at any time while
this Warrant remains outstanding and unexpired, shall subdivide or combine its outstanding shares of Common Stock, the Warrant Price shall be (i) proportionately decreased and the number of Shares issuable hereunder shall be proportionately
increased in the case of a subdivision and (ii) proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall
(i) pay a dividend with respect to Common Stock payable in Common Stock, then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price

  

 3 

 
determined by multiplying the Warrant Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Common
Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend or distribution; or (ii) make any other
distribution with respect to Common Stock (except any distribution specifically provided for in Sections 4(a) and 4(b)), then, in each such case, provision shall be made by the Company such that the holder of this Warrant shall
receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Common Stock as of the record date fixed for the determination of the shareholders of the Company entitled to
receive such dividend or distribution. 
 (d) Adjustment of Number of Shares. Upon each adjustment in the Warrant Price,
the number of Shares of Common Stock purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a
fraction, the numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
 5. Notice of Adjustments. Whenever the Warrant Price or the number of Shares purchasable hereunder shall be adjusted pursuant to
Section 4 hereof, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was
calculated, and the Warrant Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 12 hereof, by first class mail,
postage prepaid) to the holder of this Warrant. 
 6. Fractional Shares. No fractional shares of Common Stock will be
issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith
by the Company’s Board of Directors. 
 7. Compliance with Securities Laws: Disposition of Warrant or Shares of Series
Preferred. 
 (a) Compliance with Securities Act of 1933. The holder of this Warrant, by acceptance hereof, agrees
that this Warrant, and the shares of Common Stock to be issued upon exercise hereof are being acquired for investment and that such holder will not offer, sell or otherwise dispose of this Warrant, or any shares of Common Stock to be issued upon
exercise hereof except under circumstances which will not result in a violation of the Securities Act of 1933, as amended (the “Act”) or any applicable state securities laws. Upon exercise of this Warrant, unless the Shares being acquired
are registered under the Act and any applicable state securities laws or an exemption from such registration is available, the holder hereof shall confirm in writing that the shares of Common Stock so purchased are being acquired for investment and
not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and all shares of Common Stock issued upon exercise of this
Warrant (unless registered under the Act and qualified under any

  

 4 

 
applicable state securities laws) shall be stamped or imprinted with a legend in substantially the following form: 
 “NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. NO SALE OR
DISPOSITION OF THIS WARRANT OR ANY SUCH SECURITIES MAY BE EFFECTED EXCEPT (i) PURSUANT TO EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH
LAWS, (iii) FOLLOWING RECEIPT OF NO- ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE IN COMPLIANCE WITH THE PROVISIONS OF SECTION 7 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY OR
INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of a holder, at such time as the restrictions
on the transfer of the applicable security shall have terminated. In addition, in connection with the issuance of this Warrant, the holder specifically represents and warrants to the Company by acceptance of this Warrant as follows: 
 (i) The holder is aware of the Company’s business affairs and financial condition, and has acquired information about the Company
sufficient to reach an informed and knowledgeable decision to acquire this Warrant. The holder is acquiring this Warrant for its own account for investment purposes only and not with a view to, or for the resale in connection with, any
“distribution” thereof in violation of the Act. 
 (ii) The holder understands that this Warrant has not been
registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the holder’s investment intent as expressed herein. 
 (iii) The holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act and qualified
under any applicable state securities laws, or unless exemptions from registration and qualification are otherwise available. The holder is aware of the provisions of Rule 144, promulgated under the Act. 
 (iv) The holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Act.

 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this Warrant or any
Shares acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or Shares, the holder hereof agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with evidence,
reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this
Warrant or such Shares and indicating whether or not under the Act certificates for this Warrant or such Shares to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure
compliance with such law.

  

 5 

 
Upon receiving such written notice and reasonably satisfactory evidence, the Company, as promptly as practicable but no later than fifteen (15) days after receipt of the written notice,
shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such Shares, all in accordance with the terms of the notice delivered to the Company. If the Company determines that the evidence is not reasonably
satisfactory to the Company, the Company shall so notify the holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such Shares may, as to such federal laws, be offered, sold or
otherwise disposed of in accordance with Rule 144 under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 have
been satisfied. Each certificate representing this Warrant or the Shares thus transferred (except a transfer pursuant to Rule 144) shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws,
unless pursuant to an opinion of counsel for the holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.

 (c) Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the
requirements of Section 7(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Common Stock issuable upon exercise thereof) or any part hereof (i) to a partner of the holder if the holder
is a partnership or to a member of the holder if the holder is a limited liability company, (ii) to a partnership of which the holder is a partner or to a limited liability company of which the holder is a member, or (iii) to any affiliate
of the holder if the holder is a corporation; provided, however, in any such transfer, if applicable, the transferee shall on the Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder
hereof. 
 8. Rights as Shareholders; Information. No holder of this Warrant, as such, shall be entitled to vote or
receive dividends or be deemed the holder of Common Stock or any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder
of this Warrant, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to receive
dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the foregoing, the Company will
transmit to the holder of this Warrant such information, documents and reports as are distributed to all the holders of the Company’s common stock concurrently with the distribution thereof to such holders of the Company’s common stock.

 9. Additional Rights. 
 (a) Acquisition Transactions. The Company shall provide the holder of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of
any of the following transactions: (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) its merger into or consolidation with any other corporation
(other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related transactions, in

  

 6 

 
which the holders of the Company’s equity securities immediately prior to such transaction or series of related transactions hold securities representing less than 50% of the voting power of
the combined entity immediately after such transaction or series of related transactions. 
 (b) Dividends and
Repurchases. The Company shall provide the holder of this Warrant with at least ten (10) days notice prior to the record date of any cash dividend with respect to or offer to repurchase the Company’s Common Stock. 
 (c) Liquidation. The Company shall provide the holder of this Warrant with at least ten (10) days notice prior to any voluntary
or involuntary dissolutions, liquidation or winding up of the Company. 
 (d) Right to Convert Warrant into Stock; Net
Issuance. 
 (i) Right to Convert. In addition to and without limiting the rights of the holder under the terms of
this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Stock as provided in this Section 9(d) at any time or from time to time during
the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the
holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock as is determined according to the following formula: 
  

			
	 X= B – A
          Y
	  	
		
	 Where:    X =
	  	the number of shares of Common Stock that shall be issued to holder
		
	    Y =	  	the fair market value of one share of Common Stock
		
	A =	  	the aggregate Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right (i.e., the number of Converted
Warrant Shares multiplied by the Warrant Price)
		
	B =	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value
of one Converted Warrant Share)

 No fractional shares shall be issuable upon exercise of the Conversion Right, and, if
the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the fair market value of the resulting fractional share on the
Conversion Date (as hereinafter defined). 
 (ii) Method of Exercise. The Conversion Right may be exercised by the
holder by the surrender of this Warrant at the principal office of the Company together with a written statement (which may be in the form of Exhibit A-1 or Exhibit A-2 hereto) specifying that the holder thereby intends to
exercise the Conversion Right and indicating the number of shares subject to this

  

 7 

 
Warrant which are being surrendered (referred to in Section 9(d)(i) hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective
upon receipt by the Company of this Warrant together with the aforesaid written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the holder hereof, may be made contingent upon
the closing of the sale of the Company’s Common Stock to the public in a public offering pursuant to a registration statement under the Act (a “Public Offering”). Certificates for the shares issuable upon exercise of the
Conversion Right and, if applicable, a new warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder within thirty (30) days following the
Conversion Date. 
 (iii) Determination of Fair Market Value. For purposes of this Section 9(d),
“fair market value” of a share of Common Stock as of a particular date (the “Determination Date”) shall mean: 
 (A) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s registration statement relating to such Public Offering (“Registration
Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. 
 (B) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: 
 (1) If traded on a securities exchange or the NASDAQ Market, the fair market value of the Common Stock shall be deemed to be the average of
the closing prices of the Common Stock on such exchange or market over the five (5) consecutive trading days immediately prior to the Determination Date; 
 (2) If traded on an over-the-counter system, the fair market value of the Common Stock shall be deemed to be the average of the closing bid prices of the Common Stock over the five (5) consecutive
trading days immediately prior to the Determination Date; and 
 (3) If there is no public market for the Common Stock, then
fair market value shall be determined in good faith by the Company’s Board of Directors. 
 In making a determination under clauses
(A) or (B) above, if on the Determination Date, five (5) trading days had not passed since the IPO, then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the
shorter period beginning on and including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading
day). If closing prices or closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00
p.m. New York City time on the applicable trading day. 
 10. “Market Stand-Off” Agreement. 
  

 8 

 (a) The holder of this Warrant, and any transferee of this Warrant, hereby agrees by
acceptance of this Warrant that, without the prior written consent of the managing underwriter of any Public Offering undertaken by the Company, during the period of duration specified by the Company and such managing underwriter, following the date
of the first sale to the public pursuant to a registration statement of the Company filed under the 1933 Act, such holder or transferee shall not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to
sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of (other than to donees who agree to be similarly bound) any securities of the Company held by it at any time
during such period except common stock included in such registration; provided, however, that: 
 (i) such
agreement shall be applicable only to the first such registration statement of the Company which covers common stock (or other securities) to be sold on its behalf to the public in an underwritten offering; 
 (ii) all officers, directors and 3% stockholders (or stockholders with smaller percentages if required by the underwriters) of the Company
enter into similar agreements; and 
 (iii) such market stand-off time period shall not exceed one 180 days from the effective
date of the initial public offering or, if required by such underwriter, such longer period of time as is necessary to enable such underwriter to issue a research report or make a public appearance that relates to an earnings release or announcement
by the Company within 18 days before or after the date that is 180 days after the effective date of the registration statement relating to such offering, but in any event not to exceed 210 days following the effective date of the registration
statement relating to such offering. 
 (b) For purposes of this Section 10, the term “Company” shall include any
wholly-owned subsidiary of the Company into which the Company merges or consolidates. In order to enforce the foregoing covenant, the Company shall have the right to place the following restrictive legend on the certificates representing the shares
subject to this Section and to impose stop transfer instructions with respect to the Shares and such other Company securities of each Investor (and the shares or securities of every other person subject to the foregoing restriction) until the end of
such period: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING
A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN THE WARRANT UNDER WHICH THESE SHARES WERE ORIGINALLY ISSUED, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY
NOT BE TRADED PRIOR TO AT LEAST 180 DAYS AFTER THE EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES. 
  

 9 

 (c) The holder of this Warrant, and any such transferee, further agrees to enter into any
agreement reasonably required by the underwriters to implement the foregoing within any reasonable time frame so requested. 
 (d) Notwithstanding the foregoing, the obligations described in this Section 10 shall not apply to a registration relating solely to employee benefit plans on Form S-1 under the Act or Form S-8 under the Act or similar forms which
may be promulgated in the future, or a registration relating solely to a Rule 145 transaction on Form S-4 under the Act or similar forms which may be promulgated in the future. 
 11. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an
instrument in writing signed by the party against which enforcement of the same is sought. 
 12. Notices. Any notice,
request, communication or other document required or permitted to be given or delivered to the holder hereof or the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to each such holder at its address as
shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this Warrant. 
 13. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation or acquisition of all or substantially all of the Company’s assets, and all of the obligations
of the Company relating to the Common Stock issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and termination of this Warrant and all of the covenants and agreements of the Company shall inure to the
benefit of the successors and assigns of the holder hereof. 
 14. Lost Warrants or Stock Certificates. The Company
covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock certificate and, in the case of any such loss, theft or destruction, upon
receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new Warrant or stock certificate, of like
tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 
 15. Descriptive Headings. The
descriptive headings of the various sections of this Warrant are inserted for convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted
this Warrant. 
 16. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of
the parties shall be governed by, the laws of the State of New York without regard to conflict of laws principles thereof. 
 17. Remedies. In case any one or more of the covenants and agreements contained in this Warrant shall have been breached, the holders hereof (in the case of a breach, by the Company), or the Company (in the case of a breach by a
holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law, including, but not limited to, an action for

  

 10 

 
damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
 18. No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of
the holder of this Warrant against impairment. 
 19. Severability. The invalidity or unenforceability of any provision
of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 20. Recovery of Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because
of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs
incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 
 21. Entire
Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the
parties, whether oral or written, with respect to such subject matter. 
 [Remainder of the page intentionally left blank.]

  

 11 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed and delivered on
this 6th day of April, 2007. 
  

			
	SOLYNDRA, INC.
		
	By:	 	/s/ Chris Gronet
		 	 Christian Gronet

		 	 President and CEO

	
	Address:
	
	3260 Scott Boulevard
	Santa Clara, CA 95054-3011

 (Signature Page to Warrant) 

 EXHIBIT A-1 
 NOTICE OF EXERCISE 
  

	To:	SOLYNDRA, INC. (the “Company”) 

 1.    The undersigned hereby: 
  

	 	 ̈	elects to purchase              shares of Common Stock of the Company pursuant to the terms of the attached
Warrant, and tenders herewith payment of the purchase price of such shares in full, or 

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 9(d) of the attached Warrant with respect to
             shares of Common Stock. 

 2.    Please issue a certificate or certificates representing              shares in the name of the undersigned or in such other name or names as are specified
below: 
  
  
 (Name) 
  
  
  
  
 (Address)

 3.    The undersigned represents that the aforesaid shares are being acquired for the account of the
undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares, all except as in compliance with applicable
securities laws. 
  

	
	
	  
	(Signature)

  
  
 (Date) 

 EXHIBIT A-2 
 NOTICE OF EXERCISE 
  

	To:	SOLYNDRA, INC. (the “Company”) 

 1.    Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the Registration Statement
on Form S    , filed                     , 200    , the undersigned hereby elects to exercise its net
issuance rights pursuant to Section 9(d) of the attached Warrant with respect to              shares of Common Stock. 
 2.    Please deliver to the custodian for the selling shareholders a stock certificate representing such
             shares. 
  

	
	
	  
	(Signature)

  
  
 (Date)

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