Document:

Amendment No. 1 to Supply and Services Agreement

 Exhibit 10.1 

Confidential Treatment Requested by Tesla Motors, Inc. 
 AMENDMENT NO. 1 
 TO 

SUPPLY AND SERVICES AGREEMENT 
 This Amendment No. 1 to Supply and Services Agreement (“Agreement”) is made and entered into as of April 30, 2012 (“Effective Date”) by and between Toyota Motor
Engineering & Manufacturing North America, Inc., a Kentucky corporation, with offices at 25 Atlantic Avenue, Erlanger, Kentucky 41018 (“TEMA”), on behalf of itself and as purchasing and paying agent for TMMC (defined below)
and Tesla Motors, Inc., a Delaware corporation, with offices at 3500 Deer Creek Road, Palo Alto, CA 94304, U.S.A. (“Tesla”). Toyota and Tesla may be referred to herein each individually as a “Party” and collectively
as the “Parties”. 
 RECITALS 
 A. TMC (as defined below) and Tesla have executed that certain Prototype Lease to Use and Services Agreement, dated July 15, 2010, pursuant to which Tesla will: (i) lease to TMC and its
affiliates for their use operational prototype RAV4 electric vehicles that Tesla will equip with an existing Tesla powertrain system; and (ii) provide services to customize RAV4s owned by TMC to equip such RAV4s with an existing Tesla
powertrain system; 
 B. TMC and Tesla have executed that certain Phase 1 Contract Services Agreement, dated October 6, 2010 (the
“Phase 1 Agreement”), pursuant to which TMC and Tesla will develop: (i) certain interfaces and technology between a Tesla powertrain system and the RAV4; and (ii) the final specifications for RAV4 EV (as defined below);

 C. Tesla and TEMA have executed that Supply and Services Agreement, dated as of July 15, 2011 (the “Original Agreement”)
pursuant to which Tesla shall provide to TEMA and/or to related or affiliated entities certain Production Parts, Service Parts and Services, all as more particularly defined and set forth in the Original Agreement; and 

D. Tesla and TEMA now desire to amend the Original Agreement as more particularly set forth herein. 

NOW, THEREFORE, for a good and valuable consideration and intending to be bound hereby, the Parties agree as follows: 

1. SUBSTITUTION OF NEW EXHIBIT J. 
 1.1 Exhibit J of the Original Agreement is hereby deleted and there is substituted in its place a new Exhibit J in the form attached hereto and incorporated herein by reference. 

2. ORIGINAL AGREEMENT REMAINS IN EFFECT. 
 2.1 Impact on Original Agreement. Except as expressly modified herein, the Original Agreement remains in full force and effect in accordance with its terms and by executing this Amendment
No. 1 neither party waives any rights it may have with respect to matters occurring prior to the date hereof. 

  

	[***]	Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 IN WITNESS WHEREOF, the Parties have executed this Amendment No. 1 to
Supply and Services Agreement by persons duly authorized as of the date and year first above written. 
  

									
	 TOYOTA MOTOR ENGINEERING &
 MANUFACTURING NORTH AMERICA, INC.
	 		 	 TESLA MOTORS, INC.

					
	By:	 	/s/ Shigeki Terashi	 		 	By:	  	/s/ JB Straubel
	Name:	 	Shigeki Terashi	 		 	Name:	  	JB Straubel
	Title:	 	President	 		 	Title:	  	Chief Technical Officer
					
	Date:	 	April 30, 2012	 		 	Date:	  	March 31, 2012

  

	[***]	Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 2 

 Exhibit J 
 Warranty/Warranty Cost Processing 
 Warranty—Powertrain Battery 

[***] 
 Warranty—All Other Parts (Except
Service Parts and Testing Equipment) 
 [***] 
 Warranty – Service Parts (Except the Powertrain Battery) 
 [***] 

Warranty – Service Parts (Powertrain Battery) 
 [***] 
 Warranty Cost Apportionment 

Warranty costs shall be apportioned between Tesla and Toyota in the following manner: 
 [***] 

  

	[***]	Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 3 

 Defective Parts 
 [***] 

  

	[***]	Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 4 

 Recall/Field Action Costs 
 [***] 
 Other Repair Parts 
 [***] 

  

	[***]	Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 5Second Amendment to Loan Arrangement and Reimbursement Agreement

 Exhibit 10.2 
 SECOND AMENDMENT TO THE
 LOAN ARRANGEMENT AND REIMBURSEMENT AGREEMENT

 SECOND AMENDMENT, dated as of June 20, 2012 (this “Amendment”), to the Loan Arrangement and
Reimbursement Agreement, dated as of January 20, 2010 (as amended by the First Amendment dated as of June 15, 2011, the Limited Waiver dated as of February 22, 2012, and as further amended hereby and as may be further amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “Arrangement Agreement”), between Tesla Motors, Inc. (the “Borrower”) and the United States Department of Energy
(“DOE”). Unless otherwise defined herein, terms defined in the Arrangement Agreement and used herein shall have the meanings given to them in the Arrangement Agreement. 

WHEREAS, the Borrower has requested that DOE agree to make certain amendments to the Arrangement Agreement, and DOE is willing to agree
to such amendments on the terms and conditions hereinafter set forth; 
 NOW, THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Amendments to the Arrangement Agreement. The Arrangement Agreement is hereby amended, effective as of the Amendment Effective Date (as defined below), as follows: 

(a) Section 7.6 (Additional Subsidiaries and Collateral; Further Assurances). Section 7.6(b)(iii) is hereby amended by
deleting it in its entirety and replacing it with the following: 
 “(iii) upon DOE’s request, deliver to DOE and the
Collateral Trustee legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to DOE and the Collateral Trustee.” 

(b) Section 8.1 (Financial Statements). Section 8.1(d) is hereby amended by: 

(i) deleting the word “and” at the end of clause (iv); 
 (ii) replacing the period at the end of clause (v) with “; and”; and 

(iii) adding a new clause (vi) as follows: 
 “(vi) in the case of the Compliance Certificates delivered concurrently with the monthly, quarterly and annual Financial Statements pursuant to Sections 8.1(a), (b) or (c), set
forth computations in reasonable detail satisfactory to DOE indicating (A) the aggregate principal amount of Customer Loans originated by the Borrower or any of its Subsidiaries during the period included within such Financial Statements, and
identifying the Permitted Receivables Financing Program pursuant to which such Customer Loans will be sold, (B) the aggregate principal amount of Customer Loans sold by the Borrower and its Subsidiaries

 
during such period and the total consideration received therefor, and identifying the Permitted Receivables Financing Program pursuant to which such sales occurred, (C) the aggregate
“dealer participation”, commission or other payment received by the Borrower and any of its Subsidiaries from Qualified Receivables Purchasers in connection with each such sale during such period, (D) the aggregate principal amount of
all Customer Loans required or elected to be repurchased by the Borrower and any of its Subsidiaries during such period and the total consideration paid therefor, (E) the current Customer Loan Limit and Customer Loan Balance as of the close of
business on the Business Day immediately prior to the date of such Compliance Certificate and (F) any other information with respect to Customer Loans as DOE may reasonably request. Notwithstanding anything to the contrary in this
Section 8.1(d)(vi), Borrower’s monthly reporting obligations pursuant to this Section 8.1(d)(vi) shall only apply for monthly periods through December 31, 2012, unless otherwise requested by DOE.” 

(c) Section 9.2 (Indebtedness). Section 9.2(i) is hereby amended by deleting it in its entirety and replacing it with
the following: 
 “(i) Indebtedness in respect of letters of credit supporting obligations in the ordinary course of
business (not consisting of Indebtedness, other than Capital Lease Obligations and purchase money Indebtedness permitted under Section 9.2(c)) in an aggregate amount (for the Borrower and all Subsidiaries) at any one time outstanding which,
together with the aggregate outstanding letters of credit set forth on the schedule referred to in clause (b) above, shall not exceed $10,000,000; and” 
 (d) Section 9.4 (Investments). Section 9.4 is hereby amended by: 

(i) deleting the word “and” at the end of clause (m); 
 (ii) replacing the period at the end of clause (n) with “; and”; and 

(iii) adding a new clause (o) as follows: 
 “(o) loans to customers of the Borrower or its Subsidiaries made in the ordinary course of business to finance the sale of motor vehicles manufactured by the Borrower (each such loan, a
“Customer Loan”); provided that: 
 (i) prior to making each Customer Loan, a Qualified
Receivables Purchaser has provided written approval or pre-approval for such Qualified Receivables Purchaser’s purchase of such Customer Loan pursuant to a Permitted Receivables Financing Program; 

(ii) each Customer Loan is evidenced by a promissory note and other documentation customary in the financing of secured
consumer auto loans the form and substance of which have been approved by the Qualified Receivables Purchaser in connection with clause (i) above (collectively, the “Customer Loan Documents”), and such Customer Loan meets all
other requirements of the applicable Permitted Receivables Financing Program; 

  
 2 

 (iii) the jurisdiction in which the sale financed by such Customer Loan
occurs is one of the jurisdictions set forth in the Receivables Financing Program Certificate delivered to DOE for the applicable Permitted Receivables Financing Program pursuant to which such Customer Loan will be sold; 

(iv) the customer has customary insurance over the vehicle financed by such Customer Loan; 

(v) within five (5) Business Days after the closing of such Customer Loan, (x) the Borrower or such Subsidiary
has taken all actions required by the Qualified Receivables Purchaser in connection with clause (i) above to perfect such Qualified Receivables Purchaser’s security interest in the financed vehicle and related collateral for such Customer
Loan, and (y) if such Customer Loan is made by an Obligor, the Collateral Trustee has a perfected security interest in all rights of the Borrower or such Subsidiary relating to such Customer Loan, all related Customer Loan Receivables and the
sale thereof to such Qualified Receivables Purchaser; 
 (vi) the representations and warranties of the customers
contained in Customer Loan Documents are consistent with, and reasonably support, the representations and warranties of the Borrower or its Subsidiaries required by the related Permitted Receivables Financing Program; 

(vii) the origination and documentation of each Customer Loan complies with all laws relating to the extension of consumer
credit and all other applicable laws; and 
 (viii) no Customer Loan shall be permitted to be made at any time
if, after giving effect thereto, the Customer Loan Balance would exceed the Customer Loan Limit at such time.” 
 (e)
Section 9.5 (Mergers, Dissolution or Acquisitions or Dispositions of Assets). Section 9.5 is hereby amended by: 

(i) deleting the word “and” at the end of clause (p); 
 (ii) replacing the period at the end of clause (q) with “; and”; and 

(iii) adding a new clause (r) as follows: 
 “(r) the sale of Customer Loan Receivables pursuant to Permitted Receivables Financing Programs (“Permitted Receivables Sales”).” 

  
 3 

 (f) Annex A (Definitions). Annex A (Definitions) to the Arrangement Agreement is
hereby amended by adding the following new defined terms in proper alphabetical order: 
 “Customer Loan” has
the meaning given to such term in Section 9.4(o). 
 “Customer Loan Balance” means, as of any time,
the sum of (A) the aggregate outstanding principal amount of all Customer Loans held by the Borrower and its Subsidiaries at such time (after giving effect to any originations, sales and repurchases of Customer Loans completed prior to such
time in accordance with the terms of the applicable Permitted Receivables Financing Program, it being agreed that this clause (A) shall continue to include the outstanding principal amount of any Customer Loan sold pursuant to a Permitted
Receivables Financing Program until the Borrower or its applicable Subsidiary has received payment in full for such Customer Loan from the related Qualified Receivables Purchaser) and (B) the aggregate outstanding principal amount of all
Customer Loans with respect to which the Borrower or any of its Subsidiaries has (i) received any notice that would trigger a repurchase obligation or (ii) given notice of the exercise of any right of first refusal or other repurchase
right, in each case pursuant to any Permitted Receivables Financing Program. 
 “Customer Loan Documents” has
the meaning given to such term in Section 9.4(o)(ii). 
 “Customer Loan Limit” means, as of any
time, the greater of (i) $15,000,000 or (ii) an amount equal to the aggregate principal amount of Customer Loans originated by the Borrower and its Subsidiaries during the previous five (5) Business Days. 

“Customer Loan Receivables” means, with respect to any Customer Loan, (a) such Customer Loan itself; (b) the
related Customer Loan Documents; (c) all accounts receivable and other obligations in respect of such Customer Loan and Customer Loan Documents; (d) all security interests in the financed vehicle and other property of the related customer
from time to time purporting to secure the repayment of such obligations, whether pursuant to the contract related to such obligations or otherwise, together with all financing statements or title documents describing the collateral securing such
obligations; (e) all rights to payment of any interest or finance charges under the related Customer Loan Documents and other obligations related thereto; (f) all supporting obligations relating to the foregoing, including but not limited
to, all customer guaranties, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of such obligations whether pursuant to the contract related to such obligations or otherwise; and
(g) all collections and proceeds with respect to the foregoing. 
 “Permitted Receivables Financing
Documents” means any dealer agreements or other similar agreements with a Qualified Receivables Purchaser (and other documents, instruments and agreements executed in connection therewith) evidencing, relating to or otherwise governing a
Permitted Receivables Financing Program and any sales thereunder in each case in a manner consistent with the terms contained in the definition of Permitted Receivables Financing Program. 

  
 4 

 “Permitted Receivables Financing Program” means an arrangement with one or
more Qualified Receivables Purchasers pursuant to which the Borrower or any of its Subsidiaries sells to such Qualified Receivables Purchasers, from time to time in the ordinary course of business, any one or more Customer Loans and the related
Customer Loan Receivables in a customary “true sale” for bankruptcy purposes; provided that no such arrangement shall qualify as a Permitted Receivables Financing Program unless all of the following are true: 

(i) all consideration paid by the applicable Qualified Receivables Purchaser in connection with each sale of Customer Loan Receivables
shall be payable to the seller thereof solely in cash, which cash shall be received by the seller substantially concurrently with the closing of such sale; 
 (ii) all such sales shall be non-recourse to the Borrower and its Subsidiaries (except for Standard Receivables Sale Undertakings), including without limitation no direct or indirect guarantees of or
other credit support for any customers’ obligations under the related Customer Loan Documents; 
 (iii) the Borrower and its
Subsidiaries shall not pay any fees or incur any payment obligations (other than Standard Receivables Sale Undertakings) of any kind in connection with any Permitted Receivables Financing Program or any sales thereunder, except with respect to
industry standard financing incentive programs the Borrower and its Subsidiaries may offer to its customers, solely to the extent that such payment obligations are recognized on the Financial Statements when incurred in accordance with GAAP;

 (iv) the Borrower and its Subsidiaries shall not create or permit to exist any Lien upon any of the assets or property of the
Borrower or any of its Subsidiaries in connection with any Permitted Receivables Financing Program or any sales thereunder; 

(v) if any Permitted Receivables Financing Documents establish rights of set off in favor of any Qualified Receivables Purchaser, such set
off rights shall be limited solely to the proceeds from Permitted Receivables Sales to the same Qualified Receivables Purchaser; 

(vi) the Permitted Receivables Financing Documents shall not restrict the Borrower and/or its relevant Subsidiaries from (x) pledging
such documentation and all rights of the Obligors thereunder to the Collateral Trustee as Collateral to secure the Secured Obligations and (y) disclosing such documentation to DOE and the Collateral Trustee; 

(vii) each Permitted Receivables Financing Program and all sales thereunder comply with all applicable laws; and 

  
 5 

 (viii) with respect to each separate arrangement with a Qualified Receivables Purchaser that
is intended to qualify as a Permitted Receivables Financing Program, at least three (3) Business Days prior to the first sale pursuant to such arrangement, the Borrower shall furnish to DOE (x) a certificate of a Responsible Officer of the
Borrower (each such certificate, a “Receivables Financing Program Certificate”), which certificate shall (A) set forth the name of such Qualified Receivables Purchaser, (B) set forth the names of the jurisdictions in which
the vehicle sales financed by the Customer Loans to be purchased under such arrangement will occur and (C) certify that all conditions in clauses (i) – (vii) in this definition of “Permitted Receivables
Financing Program” with respect to such arrangement have been satisfied and (y), if requested by DOE, a favorable legal opinion of counsel to the Borrower and/or its relevant Subsidiaries, in form and substance, and from counsel, reasonably
satisfactory to DOE covering such matters relating to such arrangement as DOE may reasonably request. 
 “Permitted
Receivables Sales” has the meaning given to such term in Section 9.5(r). 
 “Qualified Receivables
Purchaser” means any unaffiliated, third-party financial institution generally in the business of providing consumer loan financing in connection with the sale of motor vehicles in the applicable jurisdiction; provided that, as of
the date the applicable Customer Loan is made, such financial institution (i) is organized under the laws of the United States, any state thereof, the District of Columbia or any member nation of the Organization for Economic Cooperation and
Development or is the principal banking Subsidiary of a bank holding company organized under the Laws of the United States, any state thereof, the District of Columbia or any member nation of the Organization for Economic Cooperation and
Development, (ii) has a long-term rating of BBB- (or the equivalent thereof) or better by S&P, Baa3 (or the equivalent thereof) or better by Moody’s, BBB- (or the equivalent thereof) or better by Fitch Ratings or (if different) the
minimum investment grade rating of S&P, Moody’s or Fitch Ratings or any other nationally-recognized statistical rating agency and (iii) has combined capital and surplus of at least $100,000,000 (based on such financial
institution’s most recent publicly-available financial statements or other information available to the Borrower). 

“Receivables Financing Program Certificate” has the meaning given to such term in clause (viii) of the definition of
“Permitted Receivables Financing Program.” 
 “Standard Receivables Sale Undertakings” means
representations, warranties, covenants and indemnities of a type that are reasonably customary in consumer auto loan receivables financings by the applicable Qualified Receivables Purchaser in the applicable jurisdiction and that are not related to
the collectability of the assets sold or the creditworthiness of the underlying obligors and excluding obligations that constitute credit recourse.” 

  
 6 

 (g) Annex A (Excluded Property). The definition of “Excluded Property” in
Annex A of the Arrangement Agreement is hereby amended by: 
 (i) deleting clause (e) thereof in its
entirety and replacing it with the following: 
 “(e) Equipment (and any accessions, additions, replacements
and proceeds thereto or thereof) subject to a Lien permitted under Section 9.3(h) if and for so long as the grant of such security interest shall constitute or result in a breach or termination pursuant to the terms of, or a default
under, the documents governing such Lien, provided, however, that the Collateral shall include and such security interest shall attach immediately at such time as the condition causing such breach, termination or default shall no longer be in
effect.” 
 (ii) deleting the last sentence of the definition in its entirety and replacing it with the
following: 
 “For the avoidance of doubt, it is understood that “Excluded Property” shall not include any
proceeds of Excluded Property unless such proceeds constitute Excluded Property described in clause (a), (b) or (e) of this definition.” 
 (h) Updates to the Business Plan. The Business Plan is hereby deemed to be updated to include the making of Customer Loans and Permitted Receivables Sales pursuant to Sections 9.4(o) and
9.5(r), respectively, of the Arrangement Agreement. 
 SECTION 2. Amendments to the Forms Supplement. The Forms
Supplement to the Arrangement Agreement is hereby amended, effective as of the Amendment Effective Date, as follows: 
 (a)
Exhibit C to the Forms Supplement (Form of Compliance Certificate). Exhibit C is hereby amended by: 
 (i)
deleting the word “[and]” at the end of paragraph numbered 4; and 
 (ii) deleting paragraph numbered
[6][9] in its entirety and replacing it with the following new paragraphs numbered [6][9] and [7][10] as follows: 

“[6][9]. Pursuant to Section 8.l(d)(vi) of the Arrangement Agreement, attached hereto as Exhibit 8.1 (d)(vi) are
computations in reasonable detail satisfactory to DOE indicating (A) the aggregate principal amount of Customer Loans originated by the Borrower or any of its Subsidiaries during the period included in the attached Financial Statements, and
identifying the Permitted Receivables Financing Program pursuant to which such Customer Loans will be sold, (B) the aggregate principal amount of Customer Loans sold by the Borrower and its Subsidiaries during such period and the total
consideration received therefor, and identifying the Permitted Receivables Financing Program pursuant to which such sales occurred, (C) the aggregate “dealer 

  
 7 

 
participation”, commission or other payment received by the Borrower and any of its Subsidiaries from Qualified Receivables Purchasers in connection with each such sale during such period,
(D) the aggregate principal amount of all Customer Loans required or elected to be repurchased by the Borrower and any of its Subsidiaries during such period and the total consideration paid therefor, [and] (E) the current Customer Loan
Limit and Customer Loan Balance as of the close of business on the Business Day immediately prior to the date of this Compliance Certificate [and (F) any other information with respect to Customer Loans as DOE has requested]; and 

[7][10]. Pursuant to Section 8.2(b) of the Arrangement Agreement, attached hereto as Exhibit 8.2(b) is the revised
business plan, and such plan is based on good faith estimates and assumptions made by management of the Borrower and management of the Borrower believes that such business plan is reasonable and attainable.” 

(b) Exhibit D to the Forms Supplement (Form of CAEATFA Conveyance/ Reconveyance Instrument). Exhibit D is hereby amended by

 (i) adding “and/or Master Regulatory and Title Conveyance Agreement, dated January 11, 2012”
before “(the “Conveyance Agreement”)”; and 
 (ii) deleting the number “320” in the
second sentence of the first recital paragraph and replacing it with the number “612.” 
 SECTION 3. Amendment to
the Information Certificate (Permits and Other Regulatory Matters. For purposes of Section 9.5(q) of the Arrangement Agreement, Section (b) of Schedule D-11 of the Information Certificate is hereby amended, effective as of the
Amendment Effective Date, by: 
 (a) deleting the last sentence of the third paragraph under the heading “CAEATFA
Arrangement” and subheading “Process” in its entirety and replacing it with: 
 “The Parties also agree that
in no event shall the aggregate asset price of assets so conveyed and re-conveyed under such arrangements with CAETFA exceed $612 million.”; and 
 (b) adding a new paragraph under the heading “CAEATFA Arrangement” and subheading “Approval” as follows: 
 “• A subsequent transaction was approved by CAEATFA’s Board of Directors on December 13, 2011, following which a Master Regulatory and Title Conveyance Agreement was executed by the
Applicant and CAEATFA’s Board of Directors on January 11, 2012.” 

  
 8 

 SECTION 4. Representations and Warranties. Each of the Obligors hereby represents and
warrants to DOE that: 
 (a) As of the Amendment Effective Date, no Default or Event of Default has occurred and is continuing.

 (b) Each of the representations and warranties made by any Obligor in or pursuant to the Transaction Documents (other than
representations and warranties contained in Article 8 of the Note Purchase Agreement) is true and correct in all material respects on and as of the Amendment Effective Date as if made on and as of the Amendment Effective Date (except to the extent
such representations and warranties relate to an earlier date, in which case, such representations and warranties were true and correct in all material respects as of such earlier date). 

SECTION 5. Effectiveness of this Amendment. This Amendment shall become effective on the date (the “Amendment Effective
Date”) when DOE (i) shall have received copies of all board, stockholder and other corporate approvals of the Obligors required for this Amendment, (ii) shall have received duly executed counterparts hereof that bear the
signatures of Borrower and any other Obligor appearing on the signature page hereof (it being agreed that the receipt of duly executed counterparts delivered by facsimile or electronic transmission in Electronic Format shall be sufficient to satisfy
the requirements of this clause (ii)), and (iii) shall have executed this Amendment. 
 SECTION 6. Effect of
Amendment. 
 (a) Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of or otherwise affect the rights and remedies of DOE under the Arrangement Agreement or any other Loan Document and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Arrangement Agreement or any other provision of the Arrangement Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein
shall be deemed to entitle the Borrower or any other Obligor to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Arrangement Agreement or any
other Loan Document in similar or different circumstances. 
 (b) On and after the Amendment Effective Date, each reference in
the Arrangement Agreement to “this Agreement”, “hereunder”, “hereof’, “herein”, or words of like import, and each reference to the “Arrangement Agreement” in any other Loan Document shall be deemed a
reference to the Arrangement Agreement as amended hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Arrangement Agreement and the other Loan Documents. 

SECTION 7. Consent and Reaffirmation. (a) Each Guarantor hereby consents to this Amendment and the transactions contemplated
hereby, (b) the Borrower and each of the Guarantors agrees that, notwithstanding the effectiveness of this Amendment, the Guarantee, the Security Agreement and each of the other Loan Documents continue to be in full force and effect,
(c) each Guarantor confirms its guarantee of the Guaranteed Obligations (as defined in the 

  
 9 

 
Guarantee and which definition, for clarity, incorporates by reference all Note P Obligations and all Note S Obligations under the Arrangement Agreement as amended hereby), and the Borrower and
each of the Guarantors confirms its grant of a security interest in its Collateral for the Secured Obligations, all as provided in the Loan Documents, and (d) the Borrower and each of the Guarantors acknowledges that such guarantee and/or grant
continues in full force and effect in respect of, and to secure, the Secured Obligations. 
 SECTION 8. Governing Law.
THIS AMENDMENT, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, FEDERAL LAW AND NOT THE LAW OF ANY STATE OR LOCALITY. TO THE EXTENT THAT A COURT LOOKS TO THE LAWS OF
ANY STATE TO DETERMINE OR DEFINE THE FEDERAL LAW, IT IS THE INTENTION OF THE PARTIES HERETO THAT SUCH COURT SHALL LOOK ONLY TO THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE RULES OF CONFLICTS OF LAWS. THE PARTIES HERETO EACH HEREBY WAIVE
ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION RELATED HERETO OR THERETO TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW. 

SECTION 9. Counterparts. This Amendment may be executed in counterparts of the parties hereof, and each such counterpart shall be
considered an original and all such counterparts shall constitute one and the same instrument. The parties may deliver such counterparts by facsimile or in Electronic Format. Each party hereto agrees to deliver a manually executed original promptly
following such facsimile or electronic transmission. 
 SECTION 10. Headings. Paragraph headings have been inserted in
this Amendment as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of this Amendment and shall not be used in the interpretation of any provision of this Amendment. 

[Remainder of page intentionally blank] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year
first above mentioned. 
  

			
	UNITED STATES DEPARTMENT OF ENERGY
		
	By:	 	  /s/ Robert Marcum

		 	 for

 Name: Frances
Nwachuku

		 	Title: Director, Portfolio Management Division

 [Signature Page to Second Amendment to Loan Arrangement and Reimbursement Agreement] 

 
			
	
	 TESLA MOTORS, INC.

		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: Chief Financial Officer
	
	TESLA MOTORS NEW YORK LLC
	
	By: Tesla Motors, Inc., its sole member
		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: Chief Financial Officer
	
	TESLA MOTORS LEASING, INC.
		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: Chief Financial Officer
	
	TESLA MOTORS MA, INC.
		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: President
	
	TESLA MOTORS PA, INC.
		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: President
	
	NORTHERN NEVADA RESEARCH CO., LLC
		
	By:	 	  /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: Chief Financial Officer

 [Signature Page to Second Amendment to Loan Arrangement and Reimbursement Agreement]

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