Document:

EX-10.5

 Exhibit 10.5 

SUNRUN INC. 
 2013
EQUITY INCENTIVE PLAN 
 (as amended and restated as of March 20, 2014) 

1. Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	to promote the success of the Company’s business. 

 The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock and Restricted Stock Units. 
 2.
Definitions. As used herein, the following definitions will apply: 
 (a) “Administrator” means the Board or any of
its Committees as will be administering the Plan, in accordance with Section 4 of the Plan. 
 (b) “Applicable Laws”
means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and
the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c)
“Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, or Restricted Stock Units. 

(d) “Award Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each
Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (e) “Board” means
the Board of Directors of the Company. 
 (f) “Change in Control” means the occurrence of any of the following events: 

(i) Change in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one person, or more
than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that
any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change in Control; or 

 (ii) Change in Effective Control of the Company. If the Company has a class of securities
registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose
appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the
acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 
 (iii) Change in
Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month
period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company
immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any
liabilities associated with such assets. 
 For purposes of this Section 2(f), persons will be considered to be acting as a group if
they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control
event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder
from time to time. 
 Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole
purpose is to change the jurisdiction of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities
immediately before such transaction. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a
section of the Code herein will be a reference to any successor or amended section of the Code. 
 (h) “Committee” means a
committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by the compensation committee of the Board, in accordance with Section 4 hereof. 

(i) “Common Stock” means the common stock of the Company. 

  
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 (j) “Company” means Sunrun Inc., a Delaware corporation, or any successor
thereto. 
 (k) “Consultant” means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to
render services to such entity. 
 (l) “Director” means a member of the Board. 

(m) “Disability” means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of
Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

 (n) “Employee” means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary
of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

(o) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(p) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for
Awards of the same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or
other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.

 (q) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange
or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of
a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids and asks were reported), as
reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 

  
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 (iii) In the absence of an established market for the Common Stock, the Fair Market Value will
be determined in good faith by the Administrator. 
 Notwithstanding the foregoing, if the determination date for the Fair Market Value
occurs on a weekend or holiday, the Fair Market Value will be the price as determined in accordance with subsections (i) through (iii) above (as applicable) on the next business day, unless otherwise determined by the Administrator. 

(r) “Incentive Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive
stock option within the meaning of Code Section 422 and the regulations promulgated thereunder. 
 (s) “Nonstatutory Stock
Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option. 
 (t)
“Option” means a stock option granted pursuant to the Plan. 
 (u) “Parent” means a “parent
corporation,” whether now or hereafter existing, as defined in Code Section 424(e). 
 (v) “Participant” means
the holder of an outstanding Award. 
 (w) “Period of Restriction” means the period during which the transfer of Shares of
Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of
other events as determined by the Administrator. 
 (x) “Plan” means this 2013 Equity Incentive Plan. 

(y) “Restricted Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 of the Plan, or
issued pursuant to the early exercise of an Option. 
 (z) “Restricted Stock Unit” means a bookkeeping entry representing
an amount equal to the Fair Market Value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(aa) “Service Provider” means an Employee, Director or Consultant. 

(bb) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan. 

(cc) “Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 7 is designated as a Stock Appreciation Right. 
 (dd) “Subsidiary” means a “subsidiary
corporation,” whether now or hereafter existing, as defined in Code Section 424(f). 

  
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 3. Stock Subject to the Plan. 

(a) Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that
may be subject to Awards and sold under the Plan is 4,391,000 Shares, plus (i) any Shares that, as of the date of stockholder approval of this Plan, have been reserved but not issued pursuant to any awards granted under the SunRun Inc. 2008
Equity Incentive Plan (the “Prior Plan”) and are not subject to any awards granted thereunder, and (ii) any Shares subject to stock options or similar awards granted under the Prior Plan that expire or otherwise terminate without
having been exercised in full and Shares issued pursuant to awards granted under the Prior Plan that are forfeited to or repurchased by the Company, with the maximum number of Shares to be added to the Plan pursuant to clauses (i) and
(ii) equal to 8,044,829 Shares. The Shares may be authorized but unissued, or reacquired Common Stock. 
 (b) Lapsed Awards. If
an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock or Restricted Stock Units, is forfeited to or repurchased by the Company due to the
failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has
terminated). With respect to Stock Appreciation Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for
future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan;
provided, however, that if Shares issued pursuant to Awards of Restricted Stock or Restricted Stock Units are repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for future grant
under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in
cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13, the maximum number of Shares
that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Code Section 422 and the Treasury Regulations promulgated thereunder, any
Shares that become available for issuance under the Plan pursuant to Section 3(b). 
 (c) Share Reserve. The Company, during the
term of this Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 

4. Administration of the Plan. 

(a) Procedure. 
 (i)
Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan. 

  
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 (ii) Other Administration. Other than as provided above, the Plan will be administered by
(A) the Board or (B) a Committee, which Committee will be constituted to satisfy Applicable Laws. 
 (b) Powers of the
Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i) to determine the Fair Market Value; 

(ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi) to institute and determine the terms and conditions of an Exchange Program; 

(vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

(viii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; 

(ix) to modify or amend each Award (subject to Section 18(c) of the Plan), including but not limited to the discretionary authority to
extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(d)); 

(x) to allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 14; 

(xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted
by the Administrator; 
 (xii) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise
would be due to such Participant under an Award; and 

  
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 (xiii) to make all other determinations deemed necessary or advisable for administering the
Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be
final and binding on all Participants and any other holders of Awards. 
 5. Eligibility. Nonstatutory Stock Options, Stock
Appreciation Rights, Restricted Stock, and Restricted Stock Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 

6. Stock Options. 
 (a)
Grant of Options. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. 

(b) Option Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term of
the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(c) Limitations. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock
Option. Notwithstanding such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under
all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(c), Incentive Stock Options will be taken into
account in the order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and calculation will be performed in accordance with Code Section 422 and
Treasury Regulations promulgated thereunder. 
 (d) Term of Option. The term of each Option will be stated in the Award Agreement;
provided, however, that the term will be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such
shorter term as may be provided in the Award Agreement. 
 (e) Option Exercise Price and Consideration. 

(i) Exercise Price. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined
by the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock

  
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representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred
ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6(e)(i), Options may be granted with a per Share exercise price of less than one hundred percent
(100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Code Section 424(a). 

(ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the
Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 
 (iii) Form of
Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of
consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market
Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided further that accepting such Shares will not result in any adverse accounting consequences to the Company, as
the Administrator determines in its sole discretion; (5) consideration received by the Company under cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (6) by net
exercise, (7) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws, or (8) any combination of the foregoing methods of payment. In making its determination as to the type of
consideration to accept, the Administrator will consider if acceptance of such consideration may be reasonably expected to benefit the Company. 

(f) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholding). Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the
Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a
stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

  
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 Exercising an Option in any manner will decrease the number of Shares thereafter available, both
for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (ii) Termination
of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination as the result of the Participant’s death or Disability, the Participant may exercise his or her
Option within thirty (30) days of termination, or such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the extent that
the Option is vested on the date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option
will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iii) Disability of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability,
the Participant may exercise his or her Option within six (6) months of termination, or such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the
Award Agreement) to the extent the Option is vested on the date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the
unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the
Plan. 
 (iv) Death of Participant. If a Participant dies while a Service Provider, the Option may be exercised within six
(6) months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the
extent that the Option is vested on the date of death, by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to the Participant’s death in a form acceptable to the Administrator. If no such
beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in
accordance with the laws of descent and distribution. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will
immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

  
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 7. Stock Appreciation Rights. 

(a) Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of
Shares. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock Appreciation Rights. 

(c) Exercise Price and Other Terms. The per Share exercise price for the Shares that will determine the amount of the payment to be
received upon exercise of a Stock Appreciation Right as set forth in Section 7(f) will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.
Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 

(d) Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify
the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e) Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by
the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(d) relating to the maximum term and Section 6(f) relating to exercise also will apply to Stock
Appreciation Rights. 
 (f) Payment of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant
will be entitled to receive payment from the Company in an amount determined by multiplying: 
 (i) The difference between the Fair Market
Value of a Share on the date of exercise over the exercise price; times 
 (ii) The number of Shares with respect to which the Stock
Appreciation Right is exercised. 
 At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in
cash, in Shares of equivalent value, or in some combination thereof. 
 8. Restricted Stock. 

(a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

  
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 (b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an
Award Agreement that will specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company
as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed. 
 (c) Transferability.
Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

 (d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted
Stock as it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 8,
Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The
Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 
 (f) Voting Rights.
During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g) Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be
entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions
on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return of Restricted
Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

9. Restricted Stock Units. 

(a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the
Administrator determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units. 

(b) Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to
which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals
(including, but not limited to, continued employment or service), or any other basis determined by the Administrator in its discretion. 

  
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 (c) Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the
Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting
criteria that must be met to receive a payout. 
 (d) Form and Timing of Payment. Payment of earned Restricted Stock Units will be
made as soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash, Shares, or a combination of both. 

(e) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

 10. Compliance With Code Section 409A. Awards will be designed and operated in such a manner that they are either exempt from
the application of, or comply with, the requirements of Code Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code
Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is
subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional
tax or interest applicable under Code Section 409A. 
 11. Leaves of Absence/Transfer Between Locations. Unless the
Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the Company or
(ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is
guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day of such leave, any Incentive Stock Option held by the
Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

12. Limited Transferability of Awards. 

(a) Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, or otherwise transferred in any
manner other than by will or by the laws of descent and distribution, and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award may only be transferred
(i) by will, (ii) by the laws of descent and distribution, or (iii) as permitted by Rule 701 of the Securities Act of 1933, as amended (the “Securities Act”). 

  
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 (b) Further, during the period the Company is relying upon the exemption from registration
provided in Rule 12h-1(f)(1) promulgated under the Exchange Act (the “Rule 12h-1(f) Exemption”) until the Company either (i) becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or
(ii) is no longer relying upon the Rule 12h-1(f) Exemption, an Option, or prior to exercise, the Shares subject to the Option, may not be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by entering
into any short position, any “put equivalent position” or any “call equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than to (x) persons who are
“family members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (y) to an executor or guardian of the Participant upon the death or disability of the Participant, in each case,
to the extent required for continued reliance on the Rule 12h-1(f) Exemption. Notwithstanding the foregoing sentence, the Administrator, in its sole discretion, may determine to permit transfers to the Company or in connection with a Change in
Control or other acquisition transactions involving the Company to the extent permitted by Rule 12h-1(f) or, if the Company is not relying on the Rule 12h-1(f) Exemption, to the extent permitted by the Plan. 

13. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of shares of stock that
may be delivered under the Plan and/or the number, class, and price of shares of stock covered by each outstanding Award; provided, however, that the Administrator will make such adjustments to an Award required by Section 25102(o) of the
California Corporations Code to the extent the Company is relying upon the exemption afforded thereby with respect to the Award. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent
it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action. 
 (c)
Merger or Change in Control. In the event of a merger of the Company with or into another corporation or other entity or a Change in Control, each outstanding Award will be treated as the Administrator determines (subject to the provisions of
the following paragraph) without a Participant’s consent, including, without limitation, that (i) Awards will be assumed, or substantially equivalent Awards will be substituted, by the acquiring or succeeding corporation (or an affiliate
thereof) with appropriate adjustments as to the number and kind of shares and prices; (ii) upon written notice to a Participant, that the Participant’s Awards will terminate upon or immediately prior to the consummation of such merger or
Change in Control; (iii) outstanding Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such merger or Change in Control, and,
to the extent the Administrator determines, terminate upon or immediately prior to the 

  
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effectiveness of such merger or Change in Control; (iv) (A) the termination of an Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have
been attained upon the exercise of such Award or realization of the Participant’s rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the
Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment), or (B) the
replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (v) any combination of the foregoing. In taking any of the actions permitted under this subsection 13(c), the Administrator will
not be obligated to treat all Awards, all Awards held by a Participant, or all Awards of the same type, similarly. 
 In the event that the
successor corporation does not assume or substitute for the Award (or portion thereof), the Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to
which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria
will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted in the event of a merger or Change in Control,
the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock
Appreciation Right will terminate upon the expiration of such period. 
 For the purposes of this subsection 13(c), an Award will be
considered assumed if, following the merger or Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change in Control, the consideration (whether stock, cash,
or other securities or property) received in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may,
with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, for each Share subject to such Award, to be solely
common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or Change in Control. 

Notwithstanding anything in this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one
or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a modification to such performance goals only to reflect the
successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 

  
 -14- 

 Notwithstanding anything in this Section 13(c) to the contrary, if a payment under an Award
Agreement is subject to Code Section 409A and if the change in control definition contained in the Award Agreement does not comply with the definition of “change of control” for purposes of a distribution under Code Section 409A,
then any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties applicable under Code
Section 409A. 
 14. Tax Withholding. 

(a) Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company will
have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be
withheld with respect to such Award (or exercise thereof). 
 (b) Withholding Arrangements. The Administrator, in its sole discretion
and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company
withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to the statutory amount
required to be withheld, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its sole discretion, or (iv) selling a sufficient number of Shares otherwise deliverable to
the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. The amount of the withholding requirement will be deemed to include any
amount which the Administrator agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant with respect to the
Award on the date that the amount of tax to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

15. No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to
continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without
cause, to the extent permitted by Applicable Laws. 
 16. Date of Grant. The date of grant of an Award will be, for all purposes, the
date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of
such grant. 
 17. Term of Plan. Subject to Section 21 of the Plan, the Plan will become effective upon its adoption by the
Board. Unless sooner terminated under Section 18, it will continue in effect for a term of ten (10) years from the later of (a) the effective date of the Plan, or (b) the earlier of the most recent Board or stockholder approval
of an increase in the number of Shares reserved for issuance under the Plan. 

  
 -15- 

 18. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 

(b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to
comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the
Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect
the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

19. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance
and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation
is required. 
 20. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having
jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to
which such requisite authority will not have been obtained. 
 21. Stockholder Approval. The Plan will be subject to approval by the
stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

22. Information to Participants. If and as required (i) pursuant to Rule 701 of the Securities Act, if the Company is relying
on the exemption from registration provided pursuant to Rule 701 of the Securities Act with respect to the applicable Award, and/or (ii) pursuant to Rule 12h-1(f) of the Exchange Act, to the extent the Company is relying on the
Rule 12h-(1)(f) Exemption, then during the period of reliance on the applicable exemption and in each case of (i) and (ii) until 

  
 -16- 

 
such time as the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act,, the Company shall provide to each Participant the information described in
paragraphs (e)(3), (4), and (5) of Rule 701 under the Securities Act not less frequently than every six (6) months with the financial statements being not more than 180 days old and with such information provided either by physical or
electronic delivery to the Participants or by written notice to the Participants of the availability of the information on an Internet site that may be password-protected and of any password needed to access the information. The Company may request
that Participants agree to keep the information to be provided pursuant to this section confidential. If a Participant does not agree to keep the information to be provided pursuant to this section confidential, then the Company will not be required
to provide the information unless otherwise required pursuant to Rule 12h-1(f)(1) under the Exchange Act (if the Company is relying on the Rule 12h-1(f) Exemption) or Rule 701 of the Securities Act (if the Company is relying on the
exemption pursuant to Rule 701 of the Securities Act). 

  
 -17- 

 SUNRUN INC. 

2013 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

Unless otherwise defined herein, the terms defined in the 2013 Equity Incentive Plan (the “Plan”) shall have the same defined
meanings in this Stock Option Agreement (the “Option Agreement”). 
 1. Grant of Option. The Administrator of the Company
hereby grants to the Participant named in the Notice of Stock Option Grant in Part I of this Agreement (“Participant”), an option (the “Option”) to purchase the number of Shares set forth in the Notice of Stock Option Grant,
at the exercise price per Share set forth in the Notice of Stock Option Grant (the “Exercise Price”), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 18 of the Plan,
in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. 

If designated in the Notice of Stock Option Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an
Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option (“NSO”). Further, if
for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the
Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. 

2. Exercise of Option. 

(a) Right to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the
Notice of Stock Option Grant and with the applicable provisions of the Plan and this Option Agreement. 
 (b) Method of Exercise.
This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A (the “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which shall state
the election to exercise the Option, the number of Shares with respect to which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company. The Exercise Notice
shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares, together with any applicable tax withholding. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice
accompanied by the aggregate Exercise Price, together with any applicable tax withholding. 

 (c) Termination Period. This Option shall be exercisable for three (3) months after
Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider.
Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan. 

No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming
such compliance, for income tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is exercised with respect to such Shares. 

3. Participant’s Representations. In the event the Shares have not been registered under the Securities Act of 1933, as amended
(the “Securities Act”), at the time this Option is exercised, Participant shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or her Investment Representation
Statement in the form attached hereto as Exhibit B. 
 4. Lock-Up Period. Participant hereby agrees that Participant
shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any
Common Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the
Company held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days
following the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication
or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or
amendments thereto). 
 Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the
underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company,
Participant shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a
registration statement filed under the Securities Act. The obligations described in this Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in
the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock
(or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound
by this Section 4. 

  
 -2- 

 5. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the
following, or a combination thereof, at the election of the Participant: 
 (a) cash; 

(b) check; 
 (c) consideration
received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or 
 (d) surrender of
other Shares which (i) shall be valued at its Fair Market Value on the date of exercise, and (ii) must be owned free and clear of any liens, claims, encumbrances or security interests, if accepting such Shares, in the sole discretion of
the Administrator, shall not result in any adverse accounting consequences to the Company. 
 6. Restrictions on Exercise. This
Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company, or if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation
of any Applicable Law. 
 7. Non-Transferability of Option. 

(a) This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised
during the lifetime of Participant only by Participant. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. 

(b) Further, until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the
Administrator determines that it is, will, or may no longer be relying upon the exemption from registration of Options under the Exchange Act as set forth in Rule 12h-1(f) promulgated under the Exchange Act (the “Reliance End Date”),
Participant shall not transfer this Option or, prior to exercise, the Shares subject to this Option, in any manner other than (i) to persons who are “family members” (as defined in Rule 701(c)(3) of the Securities Act) through
gifts or domestic relations orders, or (ii) to an executor or guardian of Participant upon the death or disability of Participant. Until the Reliance End Date, the Options and, prior to exercise, the Shares subject to this Option, may not be
pledged, hypothecated or otherwise transferred or disposed of, including by entering into any short position, any “put equivalent position” or any “call equivalent position” (as defined in Rule 16a-1(h) and
Rule 16a-1(b) of the Exchange Act, respectively), other than as permitted in clauses (i) and (ii) of this paragraph. 
 8.
Term of Option. This Option may be exercised only within the term set out in the Notice of Stock Option Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 

  
 -3- 

 9. Tax Obligations. 

(a) Tax Withholding. Participant agrees to make appropriate arrangements with the Company (or the Parent or Subsidiary employing or
retaining Participant) for the satisfaction of all Federal, state, local and foreign income and employment tax withholding requirements applicable to the Option exercise. Participant acknowledges and agrees that the Company may refuse to honor the
exercise and refuse to deliver the Shares if such withholding amounts are not delivered at the time of exercise. 
 (b) Notice of
Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two
(2) years after the Date of Grant, or (ii) the date one (1) year after the date of exercise, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income
tax withholding by the Company on the compensation income recognized by Participant. 
 (c) Code Section 409A. Under Code
Section 409A, an Option that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined by the
Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant (a “discount option”) may be considered “deferred compensation.” An Option that is a “discount option”
may result in (i) income recognition by Participant prior to the exercise of the Option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The “discount
option” may also result in additional state income, penalty and interest tax to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option
equals or exceeds the Fair Market Value of a Share on the date of grant in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a
Share on the date of grant, Participant shall be solely responsible for Participant’s costs related to such a determination. 
 10.
Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all
prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. This
Option Agreement is governed by the internal substantive laws but not the choice of law rules of California. 
 11. No Guarantee of
Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR
RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS

  
 -4- 

 
CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY
PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT
ANY TIME, WITH OR WITHOUT CAUSE. 
 Participant acknowledges receipt of a copy of the Plan and represents that he or she is familiar with
the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Participant has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Option and fully understands all provisions of the Option. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this
Option. Participant further agrees to notify the Company upon any change in the Participant’s residence address on file with the Company. 

  
 -5- 

 EXHIBIT A 

2013 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 
 Sunrun Inc. 

595 Market Street, 29th Floor 
 San Francisco, CA 94105 

Attention: Chief Executive Officer 
 1.
Exercise of Option. Effective as of today,             ,             , the undersigned (“Participant”) hereby
elects to exercise Participant’s option (the “Option”) to purchase             shares of the Common Stock (the “Shares”) of Sunrun Inc. (the “Company”)
under and pursuant to the 2013 Equity Incentive Plan (the “Plan”) and Stock Option Agreement (the “Option Agreement”). 

2. Delivery of Payment. Participant herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option
Agreement, and any and all withholding taxes due in connection with the exercise of the Option. 
 3. Representations of Participant.
Participant acknowledges that Participant has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 

4. Rights as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a
duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Common Stock subject to an Award, notwithstanding the exercise of the Option. The Shares shall
be issued to Participant as soon as practicable after the Option is exercised in accordance with the Option Agreement. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of issuance except as
provided in Section 13 of the Plan. 
 5. Company’s Right of First Refusal. Before any Shares held by Participant or any
transferee (either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase
the Shares on the terms and conditions set forth in this Section 5 (the “Right of First Refusal”). 
 (a) Notice of
Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each
proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; 

 
and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the “Offered Price”), and the Holder shall offer the Shares at the
Offered Price to the Company or its assignee(s). 
 (b) Exercise of Right of First Refusal. At any time within thirty (30) days
after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at
the purchase price determined in accordance with subsection (c) below. 
 (c) Purchase Price. The purchase price (“Purchase
Price”) for the Shares purchased by the Company or its assignee(s) under this Section 5 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall
be determined by the Board of Directors of the Company in good faith. 
 (d) Payment. Payment of the Purchase Price shall be made, at
the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination
thereof within thirty (30) days after receipt of the Notice or in the manner and at the times set forth in the Notice. 
 (e)
Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section 5, then the Holder may sell
or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within one hundred and twenty (120) days after the date of the Notice, that any
such sale or other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section 5 shall continue to apply to the Shares in the hands of such
Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First
Refusal before any Shares held by the Holder may be sold or otherwise transferred. 
 (f) Exception for Certain Family Transfers.
Anything to the contrary contained in this Section 5 notwithstanding, the transfer of any or all of the Shares during the Participant’s lifetime or on the Participant’s death by will or intestacy to the Participant’s immediate
family or a trust for the benefit of the Participant’s immediate family shall be exempt from the provisions of this Section 5. “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother,
brother or sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section 5, and there shall be no further transfer of such Shares except in accordance with the
terms of this Section 5. 
 (g) Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any
Shares upon the earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded. 

  
 -2- 

 6. Tax Consultation. Participant understands that Participant may suffer adverse tax
consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the
Shares and that Participant is not relying on the Company for any tax advice. 
 7. Restrictive Legends and Stop-Transfer Orders.

 (a) Legends. Participant understands and agrees that the Company shall cause the legends set forth below or legends substantially
equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY
THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST
REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR
A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY
THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. 
 (b) Stop-Transfer
Notices. Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers
its own securities, it may make appropriate notations to the same effect in its own records. 
 (c) Refusal to Transfer. The Company
shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Exercise Notice or (ii) to treat as owner of such Shares or to accord the right to
vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 

  
 -3- 

 8. Successors and Assigns. The Company may assign any of its rights under this Exercise
Notice to single or multiple assignees, and this Exercise Notice shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Exercise Notice shall be binding upon
Participant and his or her heirs, executors, administrators, successors and assigns. 
 9. Interpretation. Any dispute regarding the
interpretation of this Exercise Notice shall be submitted by Participant or by the Company forthwith to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be
final and binding on all parties. 
 10. Governing Law; Severability. This Exercise Notice is governed by the internal substantive
laws, but not the choice of law rules, of California. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Exercise Notice shall continue in full force and
effect. 
 11. Entire Agreement. The Plan and Option Agreement are incorporated herein by reference. This Exercise Notice, the Plan,
the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and
Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. 

  
 -4- 

			
	Submitted by:		Accepted by:
	PARTICIPANT		SUNRUN INC.
		
	  
		  

	Signature		By
		
	  
		  

	Print Name		Print Name
		
			  

			Title
		
	Address:		Address:
		
	  
		  

		
	  
		  

		
			  

			Date Received

  
 -5- 

 EXHIBIT B 

INVESTMENT REPRESENTATION STATEMENT 
  

					
	PARTICIPANT		:		
			
	COMPANY		:		SUNRUN INC.
			
	SECURITY		:		COMMON STOCK
			
	AMOUNT		:		
			
	DATE		:		

 In connection with the purchase of the above-listed Securities, the undersigned Participant represents to the
Company the following: 
 (a) Participant is aware of the Company’s business affairs and financial condition and has acquired
sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Participant is acquiring these Securities for investment for Participant’s own account only and not with a view to, or for
resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b) Participant acknowledges and understands that the Securities constitute “restricted securities” under the Securities Act and
have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Participant’s investment intent as expressed herein. In this
connection, Participant understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Participant’s representation was predicated solely upon a present intention to hold
these Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one (1) year or any other fixed period in
the future. Participant further understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Participant further acknowledges and
understands that the Company is under no obligation to register the Securities. Participant understands that the certificate evidencing the Securities shall be imprinted with any legend required under applicable state securities laws. 

(c) Participant is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act, which, in
substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions. Rule 701 provides that if the
issuer qualifies under Rule 701 at the time of the grant of the Option to Participant, the exercise shall be exempt from registration 

 
under the Securities Act. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days
thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may be resold, subject to the satisfaction of the applicable conditions specified by Rule 144, including in the case of
affiliates (1) the availability of certain public information about the Company, (2) the amount of Securities being sold during any three (3) month period not exceeding specified limitations, (3) the resale being made in an
unsolicited “broker’s transaction”, transactions directly with a “market maker” or “riskless principal transactions” (as those terms are defined under the Securities Exchange Act of 1934) and (4) the timely
filing of a Form 144, if applicable. 
 In the event that the Company does not qualify under Rule 701 at the time of grant of the
Option, then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which may require (i) the availability of current public information about the Company; (ii) the resale to occur more
than a specified period after the purchase and full payment (within the meaning of Rule 144) for the Securities; and (iii) in the case of the sale of Securities by an affiliate, the satisfaction of the conditions set forth in sections (2),
(3) and (4) of the paragraph immediately above. 
 (d) Participant further understands that in the event all of the applicable
requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption shall be required; and that, notwithstanding the fact that Rules 144 and 701 are
not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 shall have a
substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. Participant
understands that no assurances can be given that any such other registration exemption shall be available in such event. 
  

	
	PARTICIPANT
	
	  

	Signature
	
	  

	Print Name
	
	  

	Date

  
 -2-EX-10.6

 Exhibit 10.6 

SUNRUN INC. 

AMENDED AND RESTATED 2008 EQUITY INCENTIVE PLAN 

1. Establishment, Objectives and Duration 

1.1 Establishment of the Plan. Sunrun Inc., a Delaware corporation, has adopted this “Sunrun Inc. 2008 Equity Incentive
Plan.” Capitalized terms will have the meanings given to them in Article 2. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, and Restricted Stock. 

1.2 Objectives of the Plan. The Plan’s purpose is to optimize the profitability and growth of the Company through long-term
incentives that are consistent with the Company’s objectives and that link Participants’ interests to those of the Company’s stockholders; to give Participants an incentive for excellence in individual performance; to promote teamwork
among Participants; and to give the Company a significant advantage in attracting and retaining key employees, directors and consultants. 

1.3 Effective Date. 

(a) The Plan will be effective June 20, 2008. The Plan must be approved by the Company’s stockholders by the later of
(1) within 12 months of the date the plan is adopted or the date the agreement is entered into; or (2) prior to or within 12 months of the granting of any option or issuance of any Shares under the Plan. Any Options granted to stockholders
that are exercised prior to stockholder approval must be rescinded if stockholder approval is not obtained in the manner described in the preceding sentence. The Board may make Awards and issue Shares under the Plan at any time after the Plan’s
Effective Date. 
 (b) Options must be granted within 10 years from the Effective Date. 

2. Definitions 

Whenever used in the Plan, the following terms have the meanings set forth below, and when the meaning is intended, the initial letter of the
word will be capitalized: 
 “Advisor” means a consultant, advisor or other independent service provider to any of the
Company Parties. 
 “Affiliate” means any corporation that is a parent or subsidiary corporation (as Code
Sections 424(e) and (f) define those terms) with respect to the Company. 
 “Award” means, individually or
collectively, a grant under this Plan to a Participant of Nonqualified Stock Options, Incentive Stock Options, or Restricted Stock. 

 “Award Agreement” means an agreement entered into between the Company and a
Participant setting forth the terms and provisions applicable to an Award or Awards granted to the Participant. 
 “Board”
or “Board of Directors” means the Board of Directors of the Company. 
 “Change in Control” means
(i) any consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the stockholders of the
Company immediately prior to such consolidation, merger or reorganization, continue to hold at least a majority of the voting power of the surviving entity in substantially the same proportions (or, if the surviving entity is a wholly owned
subsidiary, its parent) immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of fifty percent (50%) of the Company’s
voting power is transferred; provided that an acquisition shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor or
indebtedness of the Company is cancelled or converted or a combination thereof; or (iii) a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Committee” means, as specified in Article 3, a Committee the Board may appoint to administer the Plan. 

“Common Stock” means the Company’s Common Stock. 

“Company” means Sunrun Inc., a Delaware corporation, and any successor thereto as provided in Article 14. 

“Company Parties” means, collectively and without duplication, the Company and any of its Affiliates. 

“Designated Beneficiary” means the Person or Persons the Participant designates in a signed writing, filed with the Company,
as the beneficiary of any amounts or benefits the Participant owns or is to receive under the Plan. If the Participant has not designated a beneficiary under the Plan, or if the Participant’s Designated Beneficiary is not living on the relevant
date hereunder, the Company will treat the Participant’s estate as the Designated Beneficiary. 
 “Director” means any
individual who is a member of the board of directors of any of the Company Parties. 
 “Disability” will have the meaning
set forth in any employment, consulting, or other agreement between any of the Company Parties and the Participant which agreement shall be determinative. Only if there is no employment, consulting, or other agreement between any of the Company
Parties and the Participant, or if such agreement does not define “Disability,” then “Disability” will mean (i) any permanent physical or mental incapacity or disability rendering the Participant unable or unfit to
perform effectively the duties and obligations of the Participant’s 

  
 -2- 

 
Service, or (ii) any illness, accident, injury, physical or mental incapacity or other disability, which condition is expected to be permanent or long-lasting and has rendered the
Participant unable or unfit to perform effectively the duties and obligations of the Participant’s Service for a period of at least 90 days in any twelve-consecutive month period (in either case, as determined in the good faith judgment of the
Board. 
 “Disqualifying Disposition” shall have the meaning set forth in Section 8.9. 

“Drag-Along Notice” shall have the meaning set forth in Section 8.7. 

“Drag-Along Right” shall have the meaning set forth in Section 8.7. 

“Effective Date” means June 20, 2008. 

“Employee” means a person employed by the Company or an Affiliate in a common law employee-employer relationship. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto. 

“Exercise Price” means the price at which a Participant may purchase a Share pursuant to an Option. 

“Fair Market Value” means, as it relates to Common Stock: (i) after a Public Offering, the closing price of such Common
Stock as reported on the principal national securities exchange on which the shares of Common Stock are then listed on the Award Date, as defined in the applicable Award Agreement, or if there were no sales on such date, on the next preceding day on
which there were sales, or if such Common Stock is not listed on a national securities exchange, the last reported bid price in the over-the-counter market; or (ii) before a Public Offering, the Board shall determine Fair Market Value on the
basis of such considerations as the Board deems important and consistent with Section 260.140.50 of Title 10 of the California Code of Regulations and Section 409A of the Code. 

“Incentive Stock Option” or “ISO” means an option to purchase Shares granted under Article 6 that the Board
designates as an Incentive Stock Option, and that is intended to meet the requirements of Code Section 422. 
 “Nonqualified
Stock Option” or “NQSO” means an option to purchase Shares granted under Article 6 that is not intended to meet the requirements of Code Section 422. 

“Option” means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6. 

“Owned Shares” means Shares that a Participant has acquired through the exercise of an Option or the vesting of Restricted
Stock, in accordance with Article 6 or 7, and the terms of any Award Agreement. 

  
 -3- 

 “Participant” means a Person whom the Board has selected to receive an Award
under the Plan, pursuant to Section 5.2, or who has an outstanding Award granted under the Plan. 
 “Person” means any
individual, partnership, corporation, limited liability company, association, joint stock company, trust, joint venture, unincorporated organization and any governmental entity or any department, agency or political subdivision thereof. 

“Plan” means the Sunrun Inc. 2008 Equity Incentive Plan, as set forth in this document, as from time to time amended. 

“Public Offering” means any sale of the Company’s common stock pursuant to an effective registration statement under the
Securities Act of 1933, as amended from time to time, or any successor act thereto, filed with the Securities and Exchange Commission; provided that the following shall not be considered a public offering: (i) any issuance of common
equity securities by the Company as consideration for a merger or acquisition, (ii) any issuance of common securities to employees, directors or consultants of any of the Company or any of its Affiliates as part of an incentive or compensation
plan, (iii) any issuance of common equity securities as part of a unit with debt or preferred stock or any similar structure in which the common equity securities are being offered primarily as a means of enhancing the Company’s ability to
sell the debt or preferred stock and (iv) the issuance of common stock by the Company upon conversion of any preferred stock of the Company. 

“Redemption Value” means the amount the Company will pay to the Participant in redemption of the Participant’s Owned
Shares following the Company’s exercise of its Repurchase Right. The Redemption Value of the Participant’s Owned Shares will be the value set forth in the Award Agreement. 

“Repurchase Right” shall have the meaning set forth in Section 7.5. 

“Restricted Period” means the period during which the transfer of Shares of Restricted Stock is limited in some way (based on
the passage of time, the achievement of performance objectives, or the occurrence of other events as the Board determines, in its discretion), and/or the Restricted Stock is not vested. 

“Restricted Stock” means a contingent grant of Shares awarded to a Participant pursuant to Article 7. 

“Retirement” means termination of Service on or after reaching the age established by the Company as the normal retirement
age in any unexpired employment, consulting or other agreement between the Participant and the Company and/or an Affiliate, or, if different, a qualified retirement plan sponsored by the Company. 

“Right of First Refusal” shall have the meaning set forth in Section 8.3. 

“Securities Act” means the Securities Act of 1933, as amended from time to time, 

  
 -4- 

 “Service” means the provision of services in the capacity of (i) an
employee of the Company or an Affiliate, (ii) a non-employee member of the Company’s Board or the board of directors of an Affiliate, or (iii) a consultant or other independent advisor to the Company or an Affiliate. 

“Shares” means the shares of the Company’s Common Stock. 

“Ten Percent Owner” means any person who owns securities possessing more than 10% of the total combined voting power, as
defined in Section 194.5 of the California General Corporate Law, of all classes of securities of the Company or any Affiliate. 

“Transfer Notice” shall have the meaning set forth in Section 8.3. 

3. Administration 

3.1 Plan Administration. The Plan will be administered by the Board or by a Committee that the Board designates for this
purpose. If the Board designates a Committee to administer this Plan, the Board will appoint the Committee members, from time to time, and the Committee members will serve at the Board’s discretion. The Committee will act by a majority of its
members at the time in office and eligible to vote on any particular matter, and Committee action may be taken either by a vote at a meeting or in writing without a meeting. 

3.2 Authority of the Board. Except as limited by law and subject to the provisions of this Plan, the Board will have full power
to: (i) select eligible Persons to participate in the Plan; (ii) determine the sizes and types of Awards; (iii) determine the terms and conditions of Awards in a manner consistent with the Plan; (iv) construe and interpret the
Plan and any agreement or instrument entered into under the Plan; (v) establish, amend or waive rules and regulations for the Plan’s administration; and (vi) subject to the provisions of Article 12, amend the Plan or the terms and
conditions of any outstanding Award to the extent the terms are within the Board’s discretion under in the Plan. Further, the Board will make all other determinations that may be necessary or advisable to administer the Plan. As permitted by
law and consistent with Section 3.1, the Board may delegate some or all of its authority under the Plan. 
 3.3
Decisions Binding. All determinations and decisions made by the Board pursuant to the provisions of the Plan will be final, conclusive and binding on all Persons, including, without limitation, the Company, its stockholders, all Affiliates,
employees, Participants and their estates and beneficiaries. 
 4. Shares Subject to the Plan and Maximum Awards 

4.1 Number of Shares Available for Grants. Subject to adjustment as provided in Section 4.3, the total number of shares
that may be subject to Awards under the Plan is Nine Million Nine Hundred Nine Thousand One Hundred Thirty (9,909,130) and this total number of shares shall in no event exceed thirty percent of the outstanding securities of the Company on an
as-converted basis unless approved by at least two-thirds of the outstanding securities entitled to vote. 

  
 -5- 

 4.2 Lapsed Awards. If any Award granted under this Plan is canceled, terminates,
expires or lapses for any reason, any Shares subject to the Award will again be available for the grant of an Award under the Plan. 

4.3 Adjustments in Authorized Shares. If the Shares, as currently constituted, are changed into or exchanged for a different
number or kind of shares of stock or other securities of the Company or of another corporation (whether because of merger, consolidation, recapitalization, reclassification, split, reverse split, combination of shares, or otherwise, but not
including a Public Offering or other capital infusion from any source) or if the number of Shares is increased through the payment of a stock dividend, provision shall be made so that the Participants shall thereafter be entitled to receive upon
vesting of the such Shares, the number of Shares, to which a Participant would have been entitled on such merger, consolidation, recapitalization, reclassification, split, reverse split, combination of shares or payment of stock dividend. If there
is any other change in the number or kind of the outstanding Shares, of any stock or other securities into which the outstanding Shares have been changed, or for which they have been exchanged, the Board, in its sole discretion, may adjust any Award
already granted or which may be afterward granted. 
 Fractional Shares resulting from any adjustment in Awards pursuant to this
section may be settled in cash or otherwise as the Board determines. The Company will give notice of any adjustment to each Participant who holds an Award that has been adjusted and the adjustment (whether or not such notice is given) will be
effective and binding for all Plan purposes. 
 5. Eligibility and Participation 

5.1 Eligibility. The following Persons are eligible to receive Awards under this Plan: 

 

	 	(a)	any Employee; 

  

	 	(b)	any Advisor; and 

  

	 	(c)	any non-employee Director. 

 5.2 Actual Participation. The Board will determine,
within the limits set forth below, those eligible Persons to whom it will grant Awards. Each eligible Person whom the Board has selected to receive an Award will become a Participant in the Plan upon execution of an Award Agreement. 

6. Stock Options 

6.1 Grant of Options. Subject to the terms and provisions of the Plan, the Board may grant (i) Incentive Stock Options to
any Employee, and (ii) Nonqualified Stock Options to any Employee, Advisor or non-employee Director, in the number, and upon the terms, and at any time and from time to time, as the Board determines and sets forth in the Award Agreement.

 6.2 Award Agreement. Each Option grant will be evidenced by an Award Agreement that specifies the duration of the
Option, the number of Shares to which the Option  

  
 -6- 

 
pertains, the manner, time, and rate of exercise and/or vesting of the Option, and such other provisions as the Board determines and sets forth in the Award Agreement. The Award Agreement will
also specify whether the Option is intended to be an ISO or an NQSO. 
 6.3 Exercise Price. Each Option grant and Award
Agreement will specify the Exercise Price for each Share subject to an Option, which the Board will determine and which must be greater than or equal to (and not less than) the Fair Market Value of a Share on the date the Option is granted.

 6.4 Duration of Options. Each Option will expire at the time determined by the Board at the time of grant and set forth
in the Award Agreement, but no later than 120 months after the date of its grant. 
 6.5 Exercise of Options. Options
will become vested and exercisable at such times and be subject to such restrictions and conditions as the Board in each instance approves and sets forth in each Award Agreement. The Board, in any NQSO Award Agreement, may provide that a Participant
may exercise Options before the Options become vested; provided that upon the Participant’s termination of Service, the Participant will forfeit any Shares attributable to the exercise of any Options that were not vested at
the time of such termination of Service. Restrictions and conditions on the exercise of an Option need not be the same for each Award or for each Participant. 

6.6 Payment. The holder of an Option may exercise the Option only by delivering a written notice of exercise to the Company
setting forth the number of Shares as to which the Option is to be exercised, together with full payment at the Exercise Price for the Shares as to which the Option is exercised and any withholding tax relating to the exercise of the Option.

 The Exercise Price and any related withholding taxes will be payable to the Company in full either: (a) in cash, or its
equivalent, in United States dollars; (b) if permitted in the governing Award Agreement, by tendering Shares the Participant (i) owns and (ii) duly endorses for transfer to the Company, (c) in any combination of cash, certified
or cashier’s check and Shares described in clause (b); or (d) by any other means the Board determines to be consistent with the Plan’s purposes and applicable law. 

6.7 Restrictions on Share Transferability. The Board may impose such restrictions on any Shares acquired through exercise of an
Option as it deems necessary or advisable, including, without limitation, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which the Shares are then listed and/or traded, and under
any blue sky or state securities laws applicable to the Shares. 
 6.8 Termination of Service. Each Option Award
Agreement will set forth the extent to which the Participant has the right to exercise the Option after his or her termination of Service. These terms will be determined by the Board in its sole discretion, need not be uniform among all Options, and
may reflect, without limitation, distinctions based on the reasons for termination of Service; provided that all Award Agreements provide for a period of at least 30 days after termination of Service within which the Participant
has the right to exercise the Options. If the  

  
 -7- 

 
Participant’s termination of Service is caused by death or Disability, the Participant or Participant’s Designated Beneficiary will have a period of at least six (6) months after
termination within which to exercise the Options. 
 6.9 Nontransferability of Options. Except as otherwise provided in a
Participant’s Award Agreement, no Option granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution or to a revocable trust. Further,
except as otherwise provided in a Participant’s Award Agreement, all Options will be exercisable during the Participant’s lifetime only by the Participant or his or her guardian or legal representative. The Board may, in its discretion,
require a Participant’s guardian or legal representative to supply it with the evidence the Board deems necessary to establish the authority of the guardian or legal representative to act on behalf of the Participant. 

6.10 Incentive Stock Options. Notwithstanding any other provision of this Article 6, the following special provisions shall
apply to any award of Incentive Stock Options: 
 (a) The Board may award Incentive Stock Options only to Employees. 

(b) To the extent that the aggregate Fair Market Value of stock with respect to which Incentive Stock Options are exercisable for the first
time by a Participant during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, such options shall be treated as Non-Qualified Stock Options. 

(c) If the Employee to whom the Incentive Stock Option is granted is a Ten Percent Owner of the Company, then: (A) the exercise Price
for each share subject to an Option will be at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock on the Award Date; and (B) the Option will expire upon the earlier of (i) the time specified by the Board
in the Award Agreement, or (ii) the fifth anniversary of the date of grant. 
 (d) An Incentive Stock Option must be exercised, if at
all, within three months after the Participant’s Termination of Service for a reason other than death or Disability and within twelve months after the Participant’s Termination of Service for death or Disability. 

7. Restricted Stock 

7.1 Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Board may, at any time and from time to
time, grant Restricted Stock to Employees, Advisors, and/or non-employee Directors in such amounts as it determines and sets forth in the Award Agreement. 

7.2 Award Agreement. Each Restricted Stock grant will be evidenced by an Award Agreement that specifies the Restricted Periods,
the number of Shares granted, the purchase price, if any, and such other provisions as the Board determines and sets forth in the Award Agreement. 

  
 -8- 

 7.3 Nontransferability. The Restricted Stock granted herein may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, until the end of the applicable Restricted Period as specified in the Award Agreement, or upon earlier
satisfaction of any other conditions specified by the Board in its sole discretion and set forth in the Award Agreement. All rights with respect to Restricted Stock will be available during the Participant’s lifetime only to the Participant or
the Participant’s guardian or legal representative. The Board may, in its discretion, require a Participant’s guardian or legal representative to supply it with evidence the Board deems necessary to establish the authority of the guardian
or legal representative to act on behalf of the Participant. 
 7.4 Other Restrictions. The Board may impose such other
conditions and/or restrictions on any Restricted Stock as it deems advisable and sets forth in the applicable Award Agreement including, without limitation, restrictions based upon the achievement of specific performance objectives (Company-wide,
business unit, and/or individual), time-based restrictions on vesting following the attainment of the performance objectives, and/or restrictions under applicable federal or state securities laws. The Board may provide that restrictions established
under this Section as to any given Award will lapse all at once or in installments. 
 The Company shall retain the certificates
representing Shares of Restricted Stock in its possession until all conditions and/or restrictions applicable to the Shares have been satisfied. 

7.5 Repurchase Right. The Company shall have the right (the “Repurchase Right”), exercisable by written notice
to the Participant at any time within ninety (90) days after the date of termination of the Participant’s employment, to purchase all of the Participant’s unvested Restricted Stock. If the Company exercises its Repurchase Right, the
purchase price payable by the Company will be the Redemption Value. 
 7.6 Payment of Awards. Except as otherwise
provided in Articles 7 and 8, Restricted Stock that becomes Owned Shares will be transferable by the Participant after the last day of the applicable Restricted Period. 

7.7 Voting Rights. The applicable Award Agreement may (but is not required to) specify that Participants holding Shares of
Restricted Stock may exercise any voting rights that apply to those Shares during the Restricted Period. 
 7.8 Dividends
and Other Distributions. The applicable Award Agreement may specify that Participants awarded Shares of Restricted Stock hereunder will be credited with regular cash dividends, if any, paid on those Shares during the Restricted Period. Dividends
may be paid currently, accrued as contingent cash obligations, or converted into additional Shares of Restricted Stock, upon such terms as the Board establishes. The Board may apply any restrictions it deems advisable to the crediting and payment of
dividends and other distributions. 
 7.9 Termination of Service. Each Award Agreement will set forth the extent to
which the Participant has the right to retain Restricted Stock after his or her termination of Service with the Company or an Affiliate. These terms will be determined by the Board in its sole discretion, need not be uniform among all Awards of
Restricted Stock, and may reflect, without limitation, distinctions based on the reasons for termination of Service. 

  
 -9- 

 7.10 Section 83(b) Election. The Participant will indicate to the Company
whether the Participant intends to make a Section 83(b) election with respect to the Restricted Stock. 
 8. Purchase and
Sales Rights 
 The provisions of this Article 8, except for Sections 8.1, 8.6 and 8.7 and the Company’s obligation to pay
the purchase price under Section 8.5, shall terminate upon the completion of a Public Offering. 
 8.1 Transferability of
Award. Except as permitted by this Article 8 or with the prior written consent of the Company, the Participant may not sell, transfer, pledge, assign or otherwise alienate or hypothecate any Award. If the Participant sells, transfers, pledges,
assigns or otherwise alienates or hypothecates the Award in breach of this Section 8.1, the Company will not be required to transfer the Award on its books or to treat any such transferee as owner of the Award. 

8.2 Transferability of Shares Acquired Upon Exercise of Option or Vesting of Restricted Stock. Except as permitted by this
Article 8 or with the prior written consent of the Company, the Participant may not sell, transfer, pledge, assign or otherwise alienate or hypothecate any Owned Shares. If the Participant sells, transfers, pledges, assigns or otherwise alienates or
hypothecates any Owned Shares in breach of this section, the Company will not be required to transfer such Owned Shares on its books or to treat any such transferee as owner of such Owned Shares, to accord the right to vote as such owner or to pay
dividends to any such transferee. 
 8.3 The Company’s Right of First Refusal. In the event the Participant
proposes to sell, pledge or otherwise transfer to a third party any Owned Shares acquired under the Plan, or any interest in such Shares, the Company shall have the “Right of First Refusal” with respect to all of such Shares. If the
Participant wishes to transfer Owned Shares acquired under the Plan, he or she must give written notice (“Transfer Notice”) to the Company describing fully the proposed transfer, including the number of Shares proposed to be
transferred, the proposed transfer price and the name and address of the proposed transferee. The Transfer Notice shall be signed both by the Participant and by the proposed transferee and must constitute a binding commitment of both parties to the
transfer of the Shares, subject to the Company’s Right of First Refusal. 
 The Company and its assignees shall have the right
(but not the obligation) to purchase any or all of the Shares on the terms described in the Transfer Notice (subject, however, to any change in such terms permitted in the next paragraph) by delivery of a Notice of Exercise of the Right of First
Refusal within 30 days after the date that the Company receives the Transfer Notice. The Company’s rights with respect to the Right of First Refusal shall be freely assignable, in whole or in part. 

If the Company (or its assignee) fails to exercise its Right of First Refusal within 30 days after the date that it received the Transfer
Notice, the Participant may, not later than six months following the date the Company receives the Transfer Notice, conclude a transfer of the Shares 

  
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subject to the Transfer Notice on the terms and conditions described in the Transfer Notice; provided that the transferee acknowledges in writing that such transferee remains bound by this
Right of First Refusal with respect to any subsequent transfer of such Shares, as described in the last paragraph of this Section 8.3. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well
as any subsequent proposed transfer by the Participant, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in this Section. If the Company (or its assignee) exercises its Right of First
Refusal, the Participant and the Company (or its assignee) shall consummate the sale of the Shares on the terms set forth in the Transfer Notice. 

The Company’s Right of First Refusal shall inure to the benefit of its successors and assigns and shall be binding upon any transferee of
the Shares. 
 The Company’s Right of First Refusal shall terminate upon the Company’s initial Public Offering. 

8.4 Delivery of Owned Shares to the Company. Within ten (10) days after the Company’s exercise of its Repurchase Right
or its Right of First Refusal, as the case may be, the Participant (or the Participant’s guardian, legal representative or Designated Beneficiary) shall deliver to the Company all certificates representing the Participant’s Owned Shares
with appropriate executed stock transfers conveying, representing and warranting good title to the Company for the Participant’s Owned Shares in compliance with the terms of the Plan and free and clear of all liens, encumbrances or claims of
any third party. 
 8.5 Payment of Purchase Price to Participant. The purchase price of the Participant’s Owned
Shares shall be payable, at the option of the Company or its assignee(s), by check or by cancellation of all or a portion of any outstanding indebtedness owed by the Participant to the Company, or a combination thereof. 

8.6 Participant’s Rights Upon Change in Control. Upon a Change in Control, the Participant shall be given an opportunity to
exercise any vested and unexercised Option prior to the consummation of the Change in Control and participate in such transaction as a holder of Common Stock. The Company shall have the discretion to provide for the termination of any outstanding
Option as of the effective date of the Change in Control; provided that, the Option will not be so terminated (without the consent of the Participant) before the expiration of ten (10) days following the date on which the
Company provided written notice of the Change in Control. If the Change in Control is structured as a (i) merger or consolidation, the Participant will waive any dissenters rights, appraisal rights or similar rights in connection with such
merger or consolidation, or (ii) sale of Shares, the Participant will agree to sell all of his Owned Shares and any vested Option on the terms and conditions approved by the Company and comparable to the terms applicable (including, without
limitation, the execution of documents) to the Company’s other holders of Common Stock. The Participant will take all actions that the Company considers necessary or desirable in connection with the consummation of the Change in Control.

 8.7 Company’s Drag-Along Rights. Upon a Change in Control, the Company will have the right (the
“Drag-Along Right”), but not the obligation, to cause the Participant to  

  
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tender for purchase any or all Owned Shares, in the same proportion, for the same consideration, at the same price and on the same terms and conditions as apply to the Company’s other
holders of Common Stock. The Drag-Along Right shall apply to the Participant’s Owned Shares. If the Company elects to exercise the Drag-Along Right, it will notify the Participant in writing (the “Drag-Along Notice”). Such
Drag-Along Notice will set forth the name and address of the proposed purchaser, the proposed amount and form of consideration and other terms and conditions of transfer offered by the proposed purchaser, the number of Owned Shares proposed to be
purchased by such purchaser, and a calculation of the purchase price applicable to the Participant. Upon the receipt of a Drag-Along Notice, the Participant will be obligated to transfer its Owned Shares free and clear of any encumbrances to the
proposed purchaser on the terms and for the price set forth in the Drag-Along Notice. The Company’s Drag-Along Right shall terminate upon the Company’s initial Public Offering. 

8.8 Legend. Each certificate evidencing Owned Shares and each certificate issued in exchange for or upon the transfer of any
Owned Shares before a Public Offering will be stamped or otherwise imprinted with such legend as the Company requires (including, without limitation, legends noting the restrictions contained in this Section 8). 

8.9 Disqualifying Disposition. The Participant must notify the Company of any disposition of any Shares issued pursuant to the
exercise of an ISO under the circumstances described in Code Section 421(b) (relating to certain disqualifying dispositions) (any such circumstance, a “Disqualifying Disposition”), within 10 days of such Disqualifying
Disposition. 
 9. Beneficiary Designation 

Each Participant may, from time to time, name any Designated Beneficiary (who may be named contingently or successively) to whom any benefit
under the Plan is to be paid in case the Participant should die before receiving any or all of his or her Plan benefits. Each beneficiary designation will revoke all prior designations by the same Participant, must be in a form prescribed by the
Company, and must be made during the Participant’s lifetime. If a Designated Beneficiary predeceases the Participant or no beneficiary has been designated, benefits remaining unpaid at the Participant’s death will be paid to the
Participant’s estate or other entity described in the Participant’s Award Agreement. 
 10. Rights of Participants

 10.1 Service. Nothing in the Plan will interfere with or limit in any way the right of the Company or any Affiliate to
terminate any Participant’s Service at any time, or confer upon any Participant any right to continue in the Service of the Company or any Affiliate. 

10.2 Participation. No Employee, Advisor, Director or Participant will have the right to receive an Award under this Plan, or,
having received any Award, to receive a future Award. 
 10.3 Financial Reports. Each year the Company shall furnish to
Participants, its annual balance sheet and income statement, unless such Participants are key employees whose duties with the Company assure them access to equivalent information. Such balance sheet and income statement need not be
audited. 

  
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 11. Deferrals and Section 409A 

11.1 Purpose. As provided in an Award Agreement, the Board may permit or require a Participant to defer receipt of cash or
Shares that would otherwise be due to him or her under the Plan or otherwise create a deferred compensation arrangement (as defined in Section 409A of the Code) in accordance with this Article 11. 

11.2 Initial Deferral Elections. The deferral of an Award or compensation otherwise payable to the Participant shall be set
forth in the terms of the Award Agreement or as elected by the Participant pursuant to such rules and procedures as the Board may establish. Any such initial deferral election by a Participant will designate a time and form of payment and shall be
made at such time as provided below: 
 (a) A Participant may make a deferral election with respect to an Award (or compensation
giving rise thereto) at any time in any calendar year preceding the year in which Service giving rise to such compensation or Award is rendered. 

(b) In the case of the first year in which a Participant becomes eligible to receive an Award or defer compensation under the Plan, the
Participant may make a deferral election within 30 days after the date the Participant becomes eligible to participate in the Plan; provided, that such election may apply only with respect to the portion of the Award or compensation attributable to
Service to be performed subsequent to the election. 
 (c) Where the grant of an Award or payment of compensation, or the applicable
vesting, is conditioned upon the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months in which the Participant performs Service, a Participant may make a
deferral election no later than six months prior to the end of the applicable performance period. 
 (d) Where the vesting of an Award is
contingent upon the Participant’s continued Service for a period of no less than 13 months, the Participant may make a deferral election within 30 days of receiving an Award. 

(e) A Participant may make a deferral election in other circumstances and at such times as may be permitted under Section 409A of the
Code. 
 11.3 Distribution Dates. Any deferred compensation arrangement created under the Plan shall be distributed at such
times as provided in the Award Agreement or a separate election form, which may include the earliest or latest of one or more of the following: 

(a) a fixed date as set forth in the Award Agreement or pursuant to a Participant’s election; 

(b) the Participant’s death; 

  
 -13- 

 (c) the Participant’s disability, as defined in Section 409A; 

(d) a change in control, as defined in Section 409A; 

(e) an Unforeseeable Emergency, as defined in Section 409A and implemented by the Committee; 

(f) a Participant’s separation of Service, as defined in Section 409A or, in the case of a “specified employee” (as
defined in Section 409A) six months following the Participant’s separation of Service; or 
 (g) such other events as permitted
under Section 409A and the regulations and guidance thereunder. 
 11.4 Restrictions on Distributions. No distribution of
a deferral may be made pursuant to the Plan if the Committee reasonably determines that such distribution would (i) violate federal securities laws or other applicable law; (ii) be nondeductible pursuant to Code Section 162(m); or
(iii) jeopardize the Company’s ability to continue as a going concern. In any such case, distribution shall be made at the earliest date at which the Committee determines such distribution would not trigger clause (i), (ii) or
(iii) above. 
 11.5 Redeferrals. The Company, in its discretion, may permit an Employee to make a subsequent
election to delay a distribution date, or, as applicable, to change the form distribution payments, attributable to one or more events triggering a distribution, so long as (i) such election may not take effect until at least 12 months after
the election is made, (ii) such election defers the distribution for a period of not less than five years from the date such distribution would otherwise have been made, and (iii) such election may not be made less than 12 months prior to
the date the distribution was to be made. 
 11.6 Termination of Deferred Compensation Arrangements. In addition, the
Committee may in its discretion terminate the deferred compensation arrangements created under the Plan subject to the following: 

(a) the arrangement may be terminated within the 30 days preceding, or 12 months following, a change in control, as defined in
Section 409A, provided that all payments under such arrangement are distributed in full within 12 months after termination; 

(b) the arrangement may be terminated in the Committee’s discretion at any time provided that (i) all deferred
compensation arrangements of similar type maintained by the Company are terminated, (ii) all payments are made at least 12 months and no more than 24 months after the termination, and (iii) the Company does not adopt a new arrangement of
similar type for a period of five years following the termination of the arrangement; and 
 (c) the arrangement may be
terminated within 12 months of a corporate dissolution taxed under Code Section 331 or with the approval of a bankruptcy court pursuant to 11 U.S.C. 503(b)(1)(A) provided that the payments under the arrangement are distributed by the
latest of the (i) the end of the calendar year of the termination, (ii) the calendar year in which such payments are fully vested, or (iii) the first calendar year in which such payment is administratively practicable.

  
 -14- 

 11.7 Interpretation and Section 409A Payments. Any Award under the Plan is
intended either (i) to be exempt from Section 409A under the stock right, short-term deferral or other exceptions available under Section 409A, or (ii) to comply with Section 409A, and shall be administered in a manner
consistent with such intent. For purposes of Section 409A, each payment of deferred compensation under this Plan shall be considered a separate payment. 

12. Amendment, Modification and Termination 

12.1 Amendment, Modification and Termination. The Board may at any time and from time to time, alter, amend, modify or terminate
the Plan in whole or in part. Subject to the terms and conditions of the Plan, the Board may modify, extend or renew outstanding Awards under the Plan, or accept the surrender of outstanding Awards (to the extent not already exercised) and grant new
Awards in substitution of them (to the extent not already exercised). The Board will not, however, modify any outstanding Incentive Stock Option to specify a lower Exercise Price. Notwithstanding the foregoing, no modification of an Award will,
without the prior written consent of the Participant, materially impair any rights or obligations under any Award already granted under the Plan. 

12.2 Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. In recognition of unusual or
nonrecurring events (including, without limitation, the events described in Section 4.3) affecting the Company or its financial statements, or in recognition of changes in applicable laws, regulations, or accounting principles, and, whenever
the Board determines that adjustments are appropriate to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, the Board may, using reasonable care, adjust the terms and conditions of,
and the criteria included in, Awards. Notwithstanding the foregoing, no modification of an Award will, without the prior written consent of the Participant, materially impair any rights or obligations under any Award already granted under the
Plan. 
 13. Withholding 

13.1 Tax Withholding. The Company will have the power and the right to deduct or withhold, or require a Participant to remit to
the Company, an amount (either in cash or Shares) sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising under this Plan. 

13.2 Share Withholding. With respect to withholding required upon the exercise of Options, upon the lapse of restrictions on
Restricted Stock, or upon any other taxable event arising as a result of Awards granted hereunder, the Company may satisfy the minimum withholding requirement for supplemental wages, in whole or in part, by withholding Shares having a Fair Market
Value (determined on the date the Participant recognizes taxable income on the Award) equal to the minimum amount of withholding tax required to be collected on the transaction. The Participant may elect, subject to the approval of the Board, to
deliver the necessary funds to satisfy the withholding obligation to the Company, in which case there will be no reduction in the Shares otherwise distributable to the Participant. 

  
 -15- 

 14. Successors 

All obligations of the Company under the Plan or any Award Agreement will be binding on any successor to the Company resulting from a Change
in Control. 
 15. Legal Construction 

15.1 Number. Except where otherwise indicated by the context, any plural term used in this Plan includes the singular and a
singular term includes the plural. 
 15.2 Severability. If any provision of the Plan is held illegal or invalid for
any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not been included. 

15.3 Requirements of Law. The granting of Awards and the issuance of Share and/or cash payouts under the Plan will be subject to
all applicable laws, rules, and regulations (including, without limitation, Section 25102(o) of the California Corporations Code) and to any approvals by governmental agencies or national securities exchanges as may be required. 

15.4 Securities Law Compliance. As to any individual who is, on the relevant date, an officer, director or ten percent
beneficial owner of any class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, all as defined under Section 16 of the Exchange Act, transactions under this Plan are intended to comply
with all applicable conditions of Rule 16b-3 under the Exchange Act, or any successor rule. To the extent any provision of the Plan or action by the Board fails to so comply, it will be deemed null and void, to the extent permitted by law and
deemed advisable by the Board. 
 15.5 Unfunded Status of the Plan. The Plan is intended to constitute an
“unfunded” plan for incentive and deferred compensation. With respect to any payments or deliveries of Shares not yet made to a Participant by the Company, the Participant’s rights are no greater than those of a general creditor of
the Company. The Board may authorize the establishment of trusts or other arrangements to meet the obligations created under the Plan, so long as the arrangement does not cause the Plan to lose its legal status as an unfunded plan. 

15.6 Non-U.S. Based Person. Notwithstanding any other provision of the Plan to the contrary, the Board may make Awards to
Persons who are not citizens or residents of the United States on such terms and conditions different from those specified in the Plan as may, in the Board’s judgment, be necessary or desirable to foster and promote achievement of the
Plan’s purposes. In furtherance of such purposes, the Board may make such modifications, amendments, procedures and subplans as may be necessary or advisable to comply with provisions of laws in other countries or jurisdictions in which the
Company operates or has employees. 
 15.7 Other Benefits. No Award granted under the Plan shall be considered
compensation for purposes of computing benefits under any Retirement plan of the Company or an Affiliate, nor affect any benefits or compensation under any other benefit or compensation plan of the Company or an Affiliate, now or subsequently
in effect. 

  
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 15.8 Compliance With Code Section 409A. Any provision of the Plan that becomes
subject to Code Section 409A, will be interpreted and applied consistent with that Section and the applicable Treasury Regulations. 

15.9 Governing Law. To the extent not preempted by federal law, the Plan and all agreements hereunder will be construed and
enforced in accordance with, and governed by, the laws of the State of California, without giving effect to its conflict of laws principles. Participants, the Company, and Affiliates each submit and consent to the jurisdiction of the courts in the
State of California, County of San Francisco, including the Federal Courts located therein, should Federal jurisdiction requirements exist in any action brought to enforce (or otherwise relating to) this Plan or an Award Agreement. 

  
 -17- 

 INCENTIVE STOCK OPTION AGREEMENT 

UNDER 
 SUNRUN
INC. 2008 EQUITY INCENTIVE PLAN 
 This INCENTIVE STOCK OPTION AGREEMENT (“Agreement”) is between Sunrun Inc. (the
“Company”) and Participant (“Participant” or “Optionholder”), and is dated effective as of the date approved by the Company’s Board of Directors (the “Grant Date”). Any term capitalized but not defined in
this Agreement will have the meaning set forth in the Sunrun Inc. 2008 Equity Incentive Plan (the “Plan”). 
 1. Option
Grant. In accordance with the terms of the Plan, and subject to the terms and conditions of this Agreement, the Company hereby grants to Participant an option to purchase Shares of the Company’s Common Stock (the “Option”) as set
forth in the Notice of Stock Option Grant (the “Notice”). Participant may exercise this Option only after it has become vested in accordance with Section 4. 

This Option is intended to be an Incentive Stock Option within the meaning of Code Section 422 and the Plan. To the extent all or part of
this Option would cause the aggregate Fair Market Value of Common Stock with respect to which Incentive Stock Options are exercisable by Participant for the first time during a calendar year (under all plans of the Company and its Affiliates) to
exceed $100,000, that portion of this Option shall be deemed a nonqualified stock option. 
 2. Exercise Price. The Exercise Price
will be as set forth in the Notice, and no less than the Fair Market Value of a Share on the Grant Date. 
 3. Payment of Exercise
Price. Participant must pay the Exercise Price in United States dollars, in cash or by personal check payable to the order of the Company, at the time of purchase. Alternatively, Participant may pay the Exercise Price, or any part of it, with:
(i) Shares owned by Participant with a Fair Market Value equal to the Exercise Price being duly endorsed for transfer to the Company free and clear of any encumbrance; or (ii) any combination of cash, personal check and Shares meeting the
requirements of clause (i) above. 
 (a) If the Company has a withholding obligation upon Participant’s exercise of the Option,
Participant must satisfy this obligation by paying the amount of required withholding to the Company. If Participant does not pay the amount of required withholding to the Company, the Company will withhold from the Shares delivered or from other
amounts payable to Participant, the minimum amount of funds required to cover all applicable federal, state and local income and employment taxes required to be withheld by the Company by reason of such exercise of the Option. 

(b) Shares used to satisfy the Exercise Price and/or any minimum required withholding tax will be valued at their Fair Market Value as
determined by the Board as of the date of exercise. 

 (c) The Company will issue no Shares pursuant to the Option before Participant has: (i) paid
the Exercise Price and, if applicable, the withholding obligation, in full and (ii) satisfied all conditions and/or restrictions applicable to the Options or Shares. 

4. Term, Vesting and Exercise of the Option. 

(a) The Option will expire ten (10) years from the Grant Date (the “Expiration Date”). 

(b) Twenty-five percent (25%) of the Shares subject to the Option, rounded down to the next whole number, will vest on the first
anniversary of the Vesting Commencement Date (“Vesting Commencement Date”) as set forth in the Notice, provided Participant has remained in continuous Service until that date, and 1/36th of the remaining Shares subject to the Option,
rounded down to the next whole number, will vest on the same day of the month as the Vesting Commencement Date each month thereafter (or if there is no corresponding day, on the last day of the month), during Participant’s continuous Service so
that all of the Shares subject to the Option will be fully vested on the fourth anniversary of the Vesting Commencement Date. 
 (c)
Notwithstanding any other provision of this Agreement, Participant will forfeit his or her right to exercise the Option, whether or not it has already vested, if the Board determines in its sole discretion that Participant has been discharged from
Service for Cause. 
 (d) After the Option has vested, and while it is exercisable, Participant (or, in the event of Participant’s
death, Participant’s estate) may exercise the Option in whole or in part by written notice to the Company indicating the number of Shares being purchased. Participant (or, in the event of Participant’s death, Participant’s estate)
must sign the notice. Full payment of the Exercise Price must accompany the notice plus, if applicable, any required withholding tax. Notwithstanding the foregoing, the Option may not be exercised for fewer than 100 Shares at any one time or, if
fewer than 100 Shares remain, all the then-remaining Shares. An Option must be exercised as to a whole number of Shares. 
 5.
Termination of Service. After termination of Service, Participant’s right to exercise the Option will be subject to the following rules. 

(a) Disability or Death. If Participant terminates Service through Disability or death, Participant (or in the case of his or her
death, Participant’s estate) may exercise the Option within the six month period following the termination. 
 (b) Voluntary
Termination. If Participant voluntarily terminates Service for any reason other than Disability or death, Participant (i) may, within the thirty day period following the effective date of termination, exercise the Option to the extent that
it was vested and exercisable on such date and (ii) will forfeit the Option to the extent that it was not vested and exercisable on such date. 

  
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 (c) Involuntary Termination. If the Company terminates Participant’s Service other
than for Disability, death or Cause, Participant (or, in the case of his or her subsequent death, Participant’s estate): (i) may, within the thirty day period following the effective date of termination, exercise the Option to the extent
that it was vested and exercisable on such date and (ii) will forfeit the Option to the extent that it was not vested and exercisable on such date. 

In no event may the Option be exercised after the Expiration Date. 

6. Transferability of Option and Shares Acquired Upon Exercise of Option. Except as permitted by Rule 701 of the Security Act of
1933, by will or by the laws of descent and distribution, Participant may not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Option or any Owned Shares. If Participant sells, transfers, pledges, assigns or otherwise
alienates or hypothecates the Option or Owned Shares in breach of this Section, the Company will not be required to transfer the Option or Owned Shares on its books or to treat any such transferee as owner of the Option or Owned Shares. 

(a) If Participant disposes of Owned Shares acquired upon exercise of this Option within two years from the Grant Date or within one year
after his or her exercise of this Option, such disposition will disqualify this Option from being treated as an incentive stock option under Code Section 422 and the Plan. 

(b) Participant represents and warrants to the Company that he or she will notify the Company in writing no later than 10 calendar days
following any sale of Owned Shares acquired upon exercise of the Option. 
 7. Company’s Right of First Refusal and Drag-Along
Right. Under the terms of the Plan, the Company has the right upon receipt of a Transfer Notice to exercise its Right of First Refusal and purchase from Participant all of the Owned Shares described in the Transfer Notice. Upon a Change in
Control, the Company has the right to cause Participant to tender any and all Owned Shares for purchase. Participant hereby agrees to be bound by all provisions of the Plan including without limitation the Right of First Refusal and Drag-Along Right
in Section 8 thereof. 
 8. Participant’s Right to Financial Information. If required by law, each year the Company will
furnish to Participant, its annual balance sheet and income statement, unless such Participant is a key employee whose duties with the Company assure his/her access to equivalent information. Such balance sheet and income statement need not be
audited and shall be treated as confidential by Participant. 
 9. Securities Law Requirements. If at any time the Board determines
that exercising the Option or issuing Shares would violate applicable securities laws, the Option will not be exercisable, and the Company will not be required to issue Shares. The Board may declare any provision of this Agreement or action of its
own null and void, if it determines the provision or action fails to comply with applicable securities laws. As a condition to exercise, the Company may require Participant to make written representations it deems necessary or desirable to comply
with applicable securities laws. 

  
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 10. Representations and Warranties. Participant represents and warrants to the Company
that Participant has received a copy of the Plan and this Agreement, has read and understands the terms of the Plan and this Agreement, and agrees to be bound by their terms and conditions in all respects. 

11. Market Stand-Off. Participant, if required by the Company and the managing underwriter of the Company’s initial registered
public offering of Common Stock, shall agree not to offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, make any short sale of, loan, grant any option, right or warrant to
purchase, or otherwise transfer or dispose of, directly or indirectly, any Shares acquired under this Agreement or other securities of the Company held by such holder or enter into any swap or similar agreement that transfers, in whole or in part,
the economic risk of ownership of any such securities, whether any such transaction is to be settled by the delivery of any Shares acquired under this Agreement or other securities of the Company, in cash or otherwise, during a period not to exceed
one hundred eighty (180) days following the effective date of the first registration statement of the Company filed under the Securities Act. Such agreement shall be in writing in a form reasonably satisfactory to the Company, the majority
holders in interest of the Company’s Series A investors and such managing underwriter. The Company shall use its best efforts to ensure that such agreement (i) provides for periodic early releases of portions of the securities subject
thereto upon the occurrence of certain specified events, and (ii) provides that in the event of an early release, all such holders will be released on a pro-rata basis from such market stand-off agreements. The obligations described in this
Section 11 shall not apply to (i) a registration relating solely to employee benefit plans on Form S-8 or a similar form that may be promulgated in the future, (ii) a registration relating solely to a transaction under Rule 145
of the Securities Act on Form S-4 or a similar form that may be promulgated in the future, or (iii) transfers pursuant to an effective registration statement under the Securities Act in compliance with Rule 144 or pursuant to an effective
exemption from registration under the Securities Act and any applicable state securities laws, if the transferee shall agree in writing to be bound by such market stand-off. The Company may impose a stop-transfer instruction with respect to the
shares (or other securities) subject to the foregoing restriction until the end of such one hundred eighty day (180) period. The Market Stand-Off limitation of this Section 11 shall also apply to any new, substituted, or additional
securities, which are distributed with respect to any Shares subject to this Option as a result of a stock dividend, spin-off, stock split or similar transaction affecting the Company’s outstanding securities without receipt of consideration.
The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section 11. 
 12. No Obligation to
Exercise Option. Neither Participant nor his or her transferee is or will be obligated by the grant of the Option to exercise it. 
 13.
No Limitation on Rights of the Company. The grant of the Option does not and will not in any way affect the right or power of the Company to make adjustments, reclassifications or changes in its capital or business structure, or to merge,
consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. 
 14. Plan and Agreement Not a Contract of
Employment or Service. Neither the Plan nor this Agreement is a contract of employment or Service, and no terms of Participant’s employment or 

  
 -4- 

 
Service will be affected in any way by the Plan, this Agreement or related instruments, except to the extent specifically expressed therein. Neither the Plan nor this Agreement will be construed
as conferring any legal rights of Participant to continue to be employed or remain in Service, nor will it interfere with any Company right to discharge Participant or to deal with Participant regardless of the existence of the Plan, this Agreement
or the Option. 
 15. Participant to Have No Rights as a Stockholder. Before the date as of which Participant is recorded on the
books of the Company as the holder of any Shares underlying the Option, Participant will have no rights as a stockholder with respect to such Shares. 

16. Notice. Any notice or other communication required or permitted under this Agreement must be in writing and must be delivered
personally, sent by certified, registered or express mail, or sent by overnight courier, at the sender’s expense. Notice will be deemed given when delivered personally or, if mailed, three days after the date of deposit in the United States
mail or, if sent by overnight courier, on the regular business day following the date sent. Notice to the Company should be sent to Sunrun Inc., 45 Fremont Street, 32nd Floor, San Francisco, CA 94105, Attention: Chief Executive Officer. Notice to
Participant should be sent to the address set forth on the signature page below. Either party may change the Person and/or address to whom the other party must give notice under this Section 16 by giving the other party written notice of such
change, in accordance with the procedures described above. 
 17. Special Rules if Participant is a Ten Percent Owner.
Notwithstanding any other provision of this Agreement to the contrary, if Participant is a Ten Percent Owner of the Company, then the portion of this Option that is an incentive stock option will expire upon the earlier of (i) the Expiration
Date, or (ii) the fifth anniversary of the Grant Date. 
 18. Successors. All obligations of the Company under this Agreement
will be binding on and inure to the benefit of any assignee of or any successor to the Company, whether the existence of the successor results from a Change in Control or otherwise. 

19. Governing Law. To the extent not preempted by federal law, this Agreement will be construed and enforced in accordance with, and
governed by, the laws of the State of California, without giving effect to its conflict of laws principles. 
 20. Plan Document
Controls. The rights granted under this Agreement are in all respects subject to the provisions set forth in the Plan to the same extent and with the same effect as if set forth fully in this Agreement. If the terms of this Agreement conflict
with the terms of the Plan document, the Plan document will control. 
 21. Amendment of the Agreement. The Company and Participant
may amend this Agreement only by a written instrument signed by both parties. 

*        *        * 

  
 -5- 

 OPTION EXERCISE FORM 

The undersigned holder of an option to purchase shares of Sunrun Inc. (the “Company”) Common Stock pursuant to an Incentive Stock
Option Agreement (the “Option Agreement”), dated as of             , and the Sunrun Inc. 2008 Equity Incentive Plan adopted June 20, 2008, as amended to date (the
“Plan”), hereby exercises his/her Option to purchase             of such shares, at the Option price of
$            per share, in accordance with the terms and conditions of such Option Agreement and the Plan. 

The undersigned hereby agrees to be bound by all of the provisions of the Option Agreement and the Plan, and to execute any Stockholders
Agreement or any related document required by the Company. 
 Date of Exercise 

                    ,
20         
  

	
	  

	Signature of Person Exercising Option

 Please type or print legibly your name, as you want it to appear on your stock certificate and your
address in the space provided below. 
  

			
	Name:		  

		
	Address:		  

	
	  

	(Street)		
	
	  

	(City)                 (State)                 (Zip
Code)
	
	  

	E-Mail address

 EXHIBIT A 

CONSENT OF SPOUSE 

The undersigned spouse of             (the “Participant”)
has read, understands and hereby approves the Notice of Stock Option Grant (the “Notice”) and corresponding Incentive Stock Option Agreement, dated as of
            , by and between Participant and Sunrun Inc. (the “Company”), together with all exhibits and attachments thereto (together with the Notice, the
“Option Agreement”). In consideration of the Company’s awarding my spouse incentive stock options as set forth in the Option Agreement, the undersigned hereby agrees to be irrevocably bound by the Option Agreement and
further agrees that any community property interest shall similarly be bound by the Option Agreement. The undersigned hereby appoints Participant as his/her attorney-in-fact with respect to any amendment or exercise of any rights under the
Agreement. 
  

									
	Date:		  
				  

							Print Name of Participant’s Spouse
				
							  

							Signature of Participant’s Spouse
					
							Address:		  

				
							  

				
							  

				
							  

		
	 ̈ Check this box if you do not have a spouse and sign below.		
				
	 Date:
		  
				  

							Signature of Participant

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