Document:

ex10-3.htm

    

    SECOND  AMENDMENT

    

    

    THIS
SECOND AMENDMENT TO LEASE is dated as of July 1, 2007  and is made
between
CYPRESS SEMICONDUCTOR CORPORATION, as Landlord, and SUNPOWER CORPORATION, as
Tenant, to be a part of that certain Office Lease Agreement and all exhibits
thereto, dated for reference purposes only as of May 15, 2006.(the “Original
Lease”), concerning approximately 43,732 rentable square feet (“RSF”), and
concerning cubicle space approximately 3,732 USF, and open space for 2,066
located within the Premises stated in the Original Lease. The Premises are
located within the Building commonly known as  Building #3,
(the“Building”), located at 3939 N. First Street (the “Land”) as shown on the
floor plan on Exhibit
"A".

     (See
Section 1.1).

    

    Landlord
and Tenant now desire to modify the Original Lease and, in consideration of the
mutual promises contained herein and for the other good and valuable
consideration, the receipt and sufficiency of which the parties hereby
acknowledge, Landlord and tenant hereby agree, intending to be bound thereby,
that the Original Lease is modified and supplemented in accordance with the
terms and conditions set forth below:

     

    
      	
              1.  

            	
              Basic
      Terms:

            

    

     

    
      	
              a.  

            	
              Premises: Approximately
      51,228 rentable square feet.  The Premises are located within
      the Building as shown on Exhibit “A-1” (See revisions on Section
      1.1)

            

    

     

    
      	
              b.  

            	
              Base
    Rent:

            

    

     

     

    
       

      
        	 Lease
    Months 	 Monthly Base Rent /
      SF  	 Monthly
Base
	 	 	 
	 1-8 	 $2.16 /
      SF 	 $
    94,461
	 9-12	 $2.16 /
      SF  	 $
    94,461
	 13	 $2.25 /
      SF	 $
    98,397
	 14	 $2.25 /
      SF	 $
      106,830
	 15-24	 $2.25 /
      SF	 $
      115,263
	 25-36	 $2.34 /
      SF	 $
      119,873
	 37-48	 $2.43 /
      SF   	 $
      124,484
	 49-60	 $2.53 /
      SF	 $
      129,606

      

       

    

            

     

    
      	
              2.  

            	
              Article
      1 Section 1.1, Premises, the Premises is hereby expanded to include
      additional cubicle and open space consisting of approximately 5,388 usable
      square feet (“USF”) effective July 1, 2007.  The Premises shall
      now contain approximately 51,228 square
feet.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    
      	
              3.  

            	
              Article
      2, Section 2.1, Base Rent, the monthly base rent remains up to the 8th
      month or December 31, 2006 as per Original Lease .  The monthly
      base rent shall be adjusted  to include the additional space
      rent effective on the 15th
      month of the Original Lease or July 1, 2007 as shown in the Base Rent
      Table (b) of the Basic Terms of this First
  Amendment.

            

    

     

    
      	
              4.  

            	
              Exhibit
      “A”, the Floor Plan shall be amended as shown in Exhibit A-1 of the First
      Amendment.

            

    

     

    
      	
              5.  

            	
              In
      the event of any inconsistency between this Second Amendment and the
      Original Lease, the terms in this Second Amendment shall
      prevail.  Except as modified herein, the Original Lease remains
      in full force and effect.

            

    

     

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Second Amendment to Lease
as of the date first set forth above.

     

    

    

     

    
      	
               Signed, sealed
      and delivered

              in the presence of:

            	 CYPRESS
      SEMICONDUCTOR CORP:

    

                                                                                     

     

    
      	 	 By: /s/ CHRIS
      FORD
	Name:	 Name: 
      Chris Ford
	
               (Print or Type
      Name)

            	 Title: 
      Facilities Manager

    

     

    

     

    
      	 	 
	Name	 
	
              (Print ot Type
      Name)

            	 Dated: 
      10/2/07

    

     

    

     

    
      	 	 SUNPOWER
      CORPORATION:

    

     

     

    

    
      	 	 By:
    /s/
	Name:	 Name: 
      
	
               (Print or Type
      Name)

            	 Title: 
      

     

    
      	 	 
	Name	 
	
              (Print ot Type
      Name)

            	 Dated: 
      10/2/07Unassociated Document

     

    
      
      

    

    
      	  

              
                CONFIDENTIAL
      TREATMENT REQUESTED

                --

                CONFIDENTIAL
      PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY
      FILED WITH THE SECURITIES AND EXCHANGE
  COMMISSION

              

            

    

     

    EXECUTION
COPY

    

    AMENDMENT TO POLYSILICON
SUPPLY AGREEMENT

    

    This Amendment to Polysilicon Supply
Agreement (this “Amendment”) is entered into as of January __, 2008, by and
between SunPower Philippines Manufacturing, Ltd., a company organized under the
laws of the Philippines and having its principal office located at #100 East
Main Street, Special Export Processing Zone, Laguna Techno Park, Binan Laguna,
Philippines (“SunPower Philippines”), and Woongjin Energy Co., Ltd., a company
organized under the laws of Korea and having its principal office located at
Daedeok Techno Valley, I 3-16 Block, Kwanpyung Dong, Yuseong Gu, Daejeon
Korea (the “JVC”).  SunPower
Philippines and the JVC may be referred to herein individually as a “Party” or
collectively as the “Parties.”

    

    RECITALS

    

    A.           SunPower
Corporation, a Delaware corporation (“SunPower”),
the JVC and Woongjin Coway Co., Ltd., a company organized under the laws of
Korea (“Woongjin”),
entered into that certain Joint Venture Agreement dated as of September 29,
2006, as amended by the Amendment No. 1 to Joint Venture Agreement dated as of
December 22, 2006 (the “JV
Agreement”), for the establishment and operation of the JVC.

    

    B.           Pursuant
to the JV Agreement, SunPower Philippines and the JVC entered to the Polysilicon
Supply Agreement dated as of December 22, 2006 (the “Polysilicon
Supply Agreement”), under which SunPower Philippines shall supply to the
JVC polycrystalline silicon required for the manufacture and supply of Ingot as
contemplated under the Ingot Supply Agreement by and among SunPower, the JVC and
Woongjin.

    

    C.           Based
on certain changes in the circumstances, the Parties recognized certain required
amendments to the Polysilicon Supply Agreement to reflect the Parties’ intent,
including (i) the addition of a definition for the term “Initial Ingot Pullers,”
and (ii) the amended description of the circumstances triggering SunPower’s
obligation to pay the JVC *** percent (***%) of the JVC’s fixed costs for its
Ingot manufacturing facilities that stay idle due to SunPower’s failure to sell,
supply and deliver the applicable Quarterly Requirement as set out in Section
2.2.1 of the Polysilicon Supply Agreement.

    

    D.           The
Parties wish to amend the Polysilicon Supply Agreement to reflect the required
changes described above.

    

    

    AGREEMENT

    

    NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties agree as follows:

    

    1. Definitions

    

    1.1 The terms defined hereinabove shall
have the meanings set forth therein.

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION.

    

    
      
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    1.2 Except as otherwise defined in this
Amendment, the terms used but not defined herein shall have the respective
meanings ascribed to them in the JV Agreement and the Polysilicon Supply
Agreement.

    

    2. Amendments to the
Polysilicon
Supply Agreement

    

    2.1 New Section
1.7.  The definition for the term “Initial Ingot Pullers” shall
be hereby added to the Polysilicon Supply Agreement as Section 1.7 to read as
follows, and each of the original Sections from 1.7 through 1.20 of the
Polysilicon Supply Agreement shall be re-numbered accordingly.

    

    1.7           “Initial Ingot Pullers” means
*** Ingot pullers that have been installed as part of the JVC’s Initial
Capacity.

    

    

    2.2            Amendment to Section
2.2.1.  The last phrase in the third sentence of Section 2.2.1
of the Polysilicon Supply Agreement is hereby revised and amended
by:

    

    
      	
              (a)  

            	
              deleting “SunPower shall pay to the JVC
      *** percent (***%) of the JVC’s fixed costs for Ingot pullers that are
      idle due to SunPower’s failure to sell, supply and deliver the applicable
      Quarterly Requirement.”; and

            

    

    

    
      	
              (b)  

            	
              inserting “SunPower shall pay to the JVC
      *** percent (***%) of the JVC’s fixed costs for the Initial Ingot Pullers
      that are then operational but stay idle solely due to SunPower’s failure
      to sell, supply and deliver the applicable Quarterly Requirement;
      provided, however, that any Product sold,
      supplied and delivered by SunPower during the Initial Requirements Period
      shall be first used to fully utilize the Initial Ingot Pullers before
      being used to utilize any other Ingot
  Pullers.”

            

    

    

    3.            Effect of Amendment and
Continuing Effect of the Polysilicon Supply Agreement

    

    3.1 Effectiveness of
Amendment.  The Polysilicon Supply Agreement shall be deemed to
have been revised and amended in accordance with this Amendment as of the date
of the Polysilicon Supply Agreement.

    

    3.2 Continuing Effect of the
Polysilicon Supply Agreement.  Except as expressly amended and
modified by this Amendment, the Polysilicon Supply Agreement (including all
rights and obligations of the parties thereunder existing prior to the execution
and delivery of this Amendment) shall continue to be, and shall remain, in full
force and effect in accordance with the terms thereof.

    

    3.3 References to the
Polysilicon Supply Agreement.  Each reference, whether direct
or indirect, in the Polysilicon Supply Agreement to the Polysilicon Supply
Agreement (including, without limitation, references to “this Agreement” in the
Polysilicon Supply Agreement) shall mean and be a reference to the Polysilicon
Supply Agreement, as amended by this Amendment.

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION.

    
      
         
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    3.4 Conflicts.  To
the extent that there are any inconsistencies or ambiguities between this
Amendment and the Polysilicon Supply Agreement, the terms of this Amendment
shall supercede the Polysilicon Supply Agreement.

    

    4. Miscellaneous

    

    4.1 Governing
Law.  This Amendment and all disputes arising out of or in
connection with this Amendment shall be governed by, interpreted under, and
construed and enforceable in accordance with, the laws of the Republic of Korea
without regard to conflicts of laws principles.  The dispute
resolution provisions in the Polysilicon Supply Agreement (including the
arbitration provision) are hereby incorporated into this Amendment, mutatis
mutandis.

    

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

    

    [Signature
Pages Follow]

    
      
         
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    IN WITNESS WHEREOF, the Parties have
caused this Amendment to Polysilicon Supply Agreement to be executed by their
respective representatives thereunto duly authorized as of the date first set
forth above.

    

    

    
      	
              SUNPOWER
      PHILIPPINES MANUFACTURING LTD.

              By:  /s/
      THOMAS H. WERNER

              Name:  Thomas
      H. Werner

              Title:  Director

            
	 
      
	
              WOONGJIN
      ENERGY CO., LTD.

              By:  /s/
      HAK DO YOO

              Name:  Hak
      Do Yoo

              Title:  CEO/President

            

    

    

    4

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