Document:

Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (“Agreement”) is made as of the 14th day of May, 2015 by and between Esperion Therapeutics, Inc., a Delaware corporation (the “Company”), and Narendra Lalwani (the “Executive”).  Except with respect to the Restrictive Covenants (as defined below), this Agreement supersedes, amends and restates in all respects all prior agreements between the Executive and the Company regarding the subject matter herein, including without limitation the employment agreement between the Employee and the Employer date July 23, 2014 (the “Former Employment Agreement”).

 

1.                                      Employment Term.  The Company and the Executive desire to continue their employment relationship, pursuant to this Agreement commencing as of the date hereof and continuing in effect until terminated by either party in accordance with this Agreement (the “Term”).  The Executive’s employment with the Company will continue to be “at will,” meaning that the Executive’s employment may be terminated by the Company or the Executive at any time and for any reason subject to the terms of this Agreement. If the Executive’s employment with the Company is terminated for any reason during the Term, the Company shall pay or provide to the Executive (or to his authorized representative or estate) any earned but unpaid base salary, unpaid expense reimbursements, accrued but unused vacation and any vested benefits the Executive may have under any employee benefit plan of the Company (the “Accrued Benefit”).

 

2.                                      Position; Duties.  During the Term, the Executive will serve as Executive Vice President, Research and Development and Chief Operating Officer, and will have such powers and duties as may from time to time be prescribed by the Company’s Chief Executive Officer (“CEO”).  The Executive shall devote his full working time and efforts to the business and affairs of the Company.  Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the CEO and/or engage in religious, charitable or other community activities as long as such services and activities are disclosed to and approved by the CEO and do not interfere with the Executive’s performance of his duties to the Company.

 

3.                                      Compensation and Related Matters.

 

(a)                     Base Salary.  During the Term, the Executive’s annual base salary will be $370,000, subject to redetermination by the Company’s Board of Directors (the “Board”) or the Compensation Committee of the Board (the “Compensation Committee”). The annual base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary will be payable in a manner that is consistent with the Company’s usual payroll practices for senior executives.

 

(b)                     Bonus.  During the Term, the Executive will be eligible to be considered for annual cash bonus as determined by the Board or the Compensation Committee.  The annual bonus will be targeted at 40% of the Executive’s Base Salary (the “Target Bonus”).  The actual bonus is discretionary and will be subject to the CEO’s assessment of the Executive’s performance as well as business conditions of the Company.  The Executive’s bonus, if any, will be paid by March 15 following the applicable bonus year.  To earn a bonus, the Executive must be employed by the Company on the day such bonus is paid.

 

 

(c)                      PTO:  During the Term, the Executive is eligible to earn up to four weeks of paid-time-off (“PTO”), to be accrued on a pro rata basis and subject to the terms and conditions of the Company’s policies and procedures relating to PTO.

 

(d)                     Other Benefits.  During the Term, the Executive will be entitled to continue to participate in the Company’s employee benefit plans, subject to the terms and the conditions of such plans and to the Company’s ability to amend and modify such plans.

 

(e)                      Equity.  The Executive’s equity compensation shall be governed by the terms and conditions of the Company’s Stock Option and Incentive Plan, as may be amended, and the applicable stock option and/or restricted stock agreements (collectively the “Equity Documents”).  Provided and notwithstanding anything to the contrary in the Equity Documents, Section 5 of this Agreement shall apply in the event of a Sale Event.

 

(f)                       Reimbursement of Business Expenses.  The Company shall reimburse the Executive for travel, entertainment, business development and other expenses reasonably and necessarily incurred by the Executive in connection with the Company’s business.  Expense reimbursement shall be subject to such policies the Company may adopt from time to time, including policies related to remote working arrangements and associated travel.

 

4.                                      Certain Definitions.

 

(a)                     Sale Event.  A Sale Event shall mean (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly from the Company.

 

(b)                     Terminating Event.  A “Terminating Event” shall mean (i) Termination by the Company other than for Cause at any time; or (ii) Termination by the Executive for Good Reason on or within the twelve (12) month period commencing with a Sale Event (such 12-month period, the “Sale Event Period”), both as set forth in this Section 4(b):

 

(i)                                     Termination by the Company Other Than For Cause.  Termination by the Company of the Executive’s employment for any reason other than for Cause, death or Disability.  For purposes of this Agreement, “Cause” shall mean, as determined by the Board:

 

(A)                               conviction (including a guilty or no contest plea) on a felony indictment or for any misdemeanor involving moral turpitude that adversely affects the Company;

 

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(B)                               participation in a fraud or act of dishonesty against the Company;

 

(C)                               material breach of Executive’s duties to the Company, that has not been cured to the reasonable satisfaction of the Board, within thirty (30) days following written notice to Executive (provided that no such notice and cure period will be required if such a breach is not subject to cure);

 

(D)                               intentional and material damage to the Company’s property; or

 

(E)                                material breach of this Agreement or other written agreement with the Company or written policy of the Company.

 

(ii)                                  Termination by the Executive for Good Reason within the Sale Event Period.  Termination by the Executive of the Executive’s employment with the Company for Good Reason within the Sale Event Period.  For purposes of this Agreement, “Good Reason” shall mean that the Executive has complied with the “Good Reason Process” (hereinafter defined) following, the occurrence of any of the following events:

 

(A)                                     a material diminution in the Executive’s position, responsibilities, authority or duties;

 

(B)                                     a material diminution in the Executive’s base salary except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company; or

 

(C)                                     a material change in the geographic location at which the Executive is required to provides services to the Company, not including business travel and short-term assignments.

 

“Good Reason Process” shall mean that (i) the Executive reasonably determines in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition; (iii) the Executive cooperates in good faith with the Company’s efforts, for a period not less than 30 days following such notice (the “Cure Period”), to remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) the Executive terminates his employment within 60 days after the end of the Cure Period.  If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred.

 

A Terminating Event shall not be deemed to have occurred pursuant to this Section 4(b)  as a result of:  (i) the ending of the Executive’s employment due to the Executive’s death or Disability, (ii) Executive’s resignation for any reason, other than for Good Reason within the Sale Event Period, (iii) the Company’s termination of the employment relationship for Cause; or

 

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(iv) solely as a result of the Executive being or becoming an employee of any direct or indirect successor to the business or assets of the Company rather than continuing as an employee of the Company following a Sale Event.  For purposes hereof, the Executive will be considered “Disabled” if, as a result of the Executive’s incapacity due to physical or mental illness, the Executive shall have been absent from his duties to the Company on a full-time basis for 180 calendar days in the aggregate in any 12-month period.

 

5.                                      Sale Event; Accelerated Vesting; Severance During the Sale Event Period.  In the event of a Sale Event all stock options and other stock-based awards with time-based vesting held by the Executive shall immediately accelerate and become fully exercisable or nonforfeitable as of the date of the Sale Event.  In addition, in the event a Terminating Event occurs within the Sale Event Period, subject to the Executive signing and complying with a separation agreement in a form and manner satisfactory to the Company containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, confidentiality, return of property and non-disparagement and reaffirmation of the Restrictive Covenants (the “Separation Agreement and Release”) and the Separation Agreement and Release becoming irrevocable, all within 60 days after the Date of Termination, the following shall occur:

 

(a)                     the Company shall pay to the Executive an amount equal to the sum of (i) 1 times the Executive’s Base Salary in effect immediately prior to the Terminating Event (or the Executive’s Base Salary in effect immediately prior to the Sale Event, if higher), and (ii) the Executive’s Target Bonus; and

 

(b)                     if the Executive was participating in the Company’s group health plan immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Executive a lump sum cash payment in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company for twelve (12) months after the Date of Termination.

 

The amounts payable under Section 5(a) and (b), as applicable, shall be paid out in a lump sum within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the amounts shall be paid in the second calendar year no later than the last day of the 60-day period.

 

6.                                      Severance Outside the Sale Event Period.  In the event a Terminating Event occurs at any time other than during the Sale Event Period, subject to the Executive signing the Separation Agreement and Release and the Separation Agreement and Release becoming irrevocable, all within 60 days after the Date of Termination, the following shall occur:

 

(a)                     the Company shall pay to the Executive an amount equal to nine (9) months of the Executive’s annual Base Salary in effect immediately prior to the Terminating Event;

 

(b)                     if the Executive was participating in the Company’s group health plan immediately prior to the Date of Termination and elects COBRA health continuation, then the

 

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Company shall pay to the Executive a monthly cash payment for nine (9) months or the Executive’s COBRA health continuation period, whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company.

 

The amounts payable under Section 6(a) and (b), as applicable, shall be paid out in substantially equal installments in accordance with the Company’s payroll practice over nine (9) months commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the severance shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination.  Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

7.                                      Restrictive Covenants.  The terms of the Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement, dated July 31, 2014 (the “Restrictive Covenants”), appended as Exhibit A, continue to be in full force and effect and are incorporated by reference as material terms of this Agreement.  The Executive hereby reaffirms the Restrictive Covenants as material terms of this Agreement.

 

(a)                                 Third-Party Agreements and Rights.  The Executive hereby confirms that the Executive is not bound by the terms of any agreement with any previous employer or other party which restricts in any way the Executive’s use or disclosure of information or the Executive’s engagement in any business.  The Executive represents to the Company that the Executive’s execution of this Agreement, the Executive’s employment with the Company and the performance of the Executive’s proposed duties for the Company will not violate any obligations the Executive may have to any such previous employer or other party.  In the Executive’s work for the Company, the Executive will not disclose or make use of any information in violation of any agreements with or rights of any such previous employer or other party, and the Executive will not bring to the premises of the Company any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other party.

 

(b)                                 Litigation and Regulatory Cooperation.  During and after the Executive’s employment, the Executive shall cooperate fully with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed by the Company.  The Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times.  During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company.  The Company shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance of obligations pursuant to this Section 7(b).

 

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(c)                                  Relief.  The Executive agrees that it would be difficult to measure any damages caused to the Company which might result from any breach by the Executive of the promises set forth in this Section 7, and that in any event money damages would be an inadequate remedy for any such breach.  Accordingly, the Executive agrees that if the Executive breaches, or proposes to breach, any portion of this Agreement, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to the Company.  In addition, in the event the Executive breaches the Restrictive Covenants during a period when he is receiving Severance, the Company shall have the right to suspend or terminate the Severance.  Such suspension or termination shall not limit the Company’s other options with respect to relief for such breach and shall not relieve the Executive of his duties under this Agreement.

 

8.                                      Additional Limitation.

 

(a)                     Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder (the “Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, the following provisions shall apply:

 

(i)                                     If the Severance Payments, reduced by the sum of (A) the Excise Tax and (B) the total of the federal, state, and local income and employment taxes payable by the Executive on the amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, the Executive shall be entitled to the full amount of Severance Payments.

 

(ii)                                  If the Threshold Amount is less than (x) the Severance Payments, but greater than (y) the Severance Payments reduced by the sum of (A) the Excise Tax and (B) the total of the federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the Threshold Amount, then the Severance Payments shall be reduced (but not below zero) to the extent necessary so that the sum of all Severance Payments shall not exceed the Threshold Amount.  In such event, the Severance Payments shall be reduced in the following order:  (1) cash payments not subject to Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits.  To the extent any payment is to be made over time (e.g., in installments, etc.), then the payments shall be reduced in reverse chronological order.

 

(b)                     For the purposes of this Section 8, “Threshold Amount” shall mean three times the Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by the Executive with respect to such excise tax.

 

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(c)                      The determination as to which of the alternative provisions of Section 8(a) above shall apply to the Executive shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive.  For purposes of determining which of the alternative provisions of Section 8(a) above shall apply, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of the Executive’s residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.  Any determination by the Accounting Firm shall be binding upon the Company and the Executive.

 

9.                                      Section 409A.

 

(a)                     Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s “separation from service” within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after the Executive’s separation from service, or (B) the Executive’s death.

 

(b)                     The parties intend that this Agreement will be administered in accordance with Section 409A of the Code.  To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code.  The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.

 

(c)                      All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by the Executive during the time periods set forth in this Agreement.  All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred.  The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year.  Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

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(d)                     To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from service.”  The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h).

 

(e)                      The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.

 

10.                               Withholding.  All payments made by the Company to the Executive under this Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law.

 

11.                               Notice and Date of Termination.

 

(a)                     Notice of Termination.  The Executive’s employment with the Company may be terminated by the Company or the Executive at any time and for any reason.  During the Term, any purported termination of the Executive’s employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with this Section 11.  For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon.

 

(b)                     Date of Termination.  “Date of Termination” shall mean:  (i) if the Executive’s employment is terminated by his death, the date of his death; (ii) if the Executive’s employment is terminated on account of Executive’s Disability or by the Company for Cause, the date on which Notice of Termination is given; (iii) if the Executive’s employment is terminated by the Company without Cause the date on which a Notice of Termination is given; (iv) if the Executive’s employment is terminated by the Executive for any reason except for Good Reason during a Sale Event Period, 30 days after the date on which a Notice of Termination is given, and (v) if the Executive’s employment is terminated by the Executive with Good Reason during a Sale Event Period, the date on which a Notice of Termination is given after the end of the Cure Period.  Notwithstanding the foregoing, in the event that the Executive gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration shall not result in a termination by the Company for purposes of this Agreement.

 

12.                               No Mitigation.  The Company agrees that, if the Executive’s employment by the Company is terminated during the term of this Agreement, the Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Executive by the Company pursuant to Section 5 or Section 6 hereof.  Further, the amount of any payment provided for in this Agreement shall not be reduced by any compensation earned by the Executive as the result of employment by another employer.

 

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13.                               Consent to Jurisdiction.  The parties hereby consent to the jurisdiction of the Superior Court of the State of Michigan and the United States District Court in Michigan.  Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process.

 

14.                               Integration.  This Agreement constitutes the entire agreement between the parties with respect to compensation, severance pay, benefits and accelerated vesting and supersedes in all respects all prior agreements between the parties concerning such subject matter, including without limitation the Former Employment Agreement and any offer letter or employment agreement relating to the Executive’s employment relationship with the Company.  Provided, and notwithstanding the foregoing, the Restrictive Covenants and any other agreement relating to confidentiality, noncompetition, nonsolicitation or assignment of inventions shall not be superseded by this Agreement and the Executive acknowledges and agrees that any such agreement shall remain in full force and effect.

 

15.                               Successor to the Executive.  This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives, executors, administrators, heirs, distributees, devisees and legatees.  In the event of the Executive’s death after a Terminating Event but prior to the completion by the Company of all payments due him under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive fails to make such designation).

 

16.                               Enforceability.  If any portion or provision of this Agreement (including, without limitation, any portion or provision of any Section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

 

17.                               Waiver.  No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party.  The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

18.                               Notices.  Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight currier service of by registered or certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with the Company, or to the Company at its main office, attention of the Board of Directors.

 

19.                               Amendment.  This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative of the Company.

 

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20.                               Effect on Other Plans and Agreements.  An election by the Executive to resign for Good Reason under the provisions of this Agreement shall not be deemed a voluntary termination of employment by the Executive for the purpose of interpreting the provisions of any of the Company’s benefit plans, programs or policies.  Nothing in this Agreement shall be construed to limit the rights of the Executive under the Company’s benefit plans, programs or policies except as otherwise provided in Section 7 hereof, and except that the Executive shall have no rights to any severance benefits under any Company severance pay plan, offer letter or otherwise.  In the event that the Executive is party to an agreement with the Company providing for payments or benefits under such agreement and this Agreement, the terms of this Agreement shall govern and Executive may receive payment under this Agreement only and not both.  Further, Section 5 and Section 6 of this Agreement are mutually exclusive and in no event shall Executive be entitled to payments or benefits pursuant to Section 5 and Section 6 of this Agreement.

 

21.                               Governing Law.  This is a Michigan contract and shall be construed under and be governed in all respects by the laws of the State of Michigan, without giving effect to the conflict of laws principles.

 

22.                               Successor to Company.  The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement to the same extent that the Company would be required to perform it if no succession had taken place.  Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a material breach of this Agreement.

 

23.                               Gender Neutral.  Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless the context clearly indicates otherwise.

 

24.                               Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.

 

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IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first above written.

 

	
 
    	
ESPERION THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Tim Mayleben
    
	
 
    	
Name:
    	
Tim   Mayleben
    
	
 
    	
Title:
    	
President &   CEO
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
EXECUTIVE:
    
	
 
    	
 
    
	
 
    	
/s/   Narendra Lalwani
    
	
 
    	
Narendra   Lalwani
    
	
 
    	
Executive   Vice President, Research and Development and Chief Operating Officer
    

 

11EX-4.1

 Exhibit 4.1 
  

 
  

FOURTH AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

TERRAFORM GLOBAL, LLC 

Dated and effective as of 

August 5, 2015 
  

 
  

THE LIMITED LIABILITY COMPANY INTERESTS IN TERRAFORM GLOBAL, LLC HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE SECURITIES LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH INTERESTS MAY NOT BE
OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE SECURITIES LAWS OF ANY STATE AND ANY OTHER APPLICABLE SECURITIES LAWS; (II) THE TERMS AND
CONDITIONS OF THIS FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT; AND (III) ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BETWEEN THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THE LIMITED LIABILITY COMPANY INTERESTS MAY NOT
BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS, THIS FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT AND ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BY THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THEREFORE,
PURCHASERS AND OTHER TRANSFEREES OF SUCH LIMITED LIABILITY COMPANY INTERESTS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT OR ACQUISITION FOR AN INDEFINITE PERIOD OF TIME. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 Section 1.1
	  	Definitions	  	 	1	  
	 Section 1.2
	  	Other Definitions	  	 	12	  
	 Section 1.3
	  	Construction	  	 	12	  
		
	 ARTICLE II ORGANIZATIONAL AND OTHER MATTERS
	  	 	12	  
	 Section 2.1
	  	Formation	  	 	12	  
	 Section 2.2
	  	Name	  	 	12	  
	 Section 2.3
	  	Limited Liability	  	 	12	  
	 Section 2.4
	  	Registered Office; Registered Agent; Principal Office in the United States; Other Offices	  	 	12	  
	 Section 2.5
	  	Purpose; Powers	  	 	13	  
	 Section 2.6
	  	Existing and Good Standing; Foreign Qualification	  	 	13	  
	 Section 2.7
	  	Term	  	 	13	  
	 Section 2.8
	  	No State Law Partnership	  	 	13	  
	 Section 2.9
	  	Admission	  	 	14	  
		
	 ARTICLE III MEMBERS; CAPITALIZATION
	  	 	14	  
	 Section 3.1
	  	Members; Units	  	 	14	  
	 Section 3.2
	  	Class A Common Stock Sale; Exchanges; Authorization and Issuance of Additional Units	  	 	15	  
	 Section 3.3
	  	Capital Account	  	 	19	  
	 Section 3.4
	  	No Withdrawal	  	 	21	  
	 Section 3.5
	  	Loans From Members	  	 	21	  
	 Section 3.6
	  	No Right of Partition	  	 	22	  
	 Section 3.7
	  	Non-Certification of Units; Legend; Units are Securities	  	 	22	  
	 Section 3.8
	  	Reset of Incentive Distribution Rights; Issuance of Class B1 Units in Connection with Reset of Incentive Distribution Rights	  	 	24	  
	 Section 3.9
	  	Transferability of IDRs	  	 	25	  
	 Section 3.10
	  	[Reserved]	  	 	26	  
	 Section 3.11
	  	Outside Activities of the Members	  	 	26	  
		
	 ARTICLE IV DISTRIBUTIONS
	  	 	26	  
	 Section 4.1
	  	Determination of Distributions	  	 	26	  
	 Section 4.2
	  	Successors	  	 	28	  
	 Section 4.3
	  	Withholding	  	 	28	  
	 Section 4.4
	  	Limitation	  	 	28	  
	 Section 4.5
	  	Adjustments	  	 	28	  
	 Section 4.6
	  	Tax Adjustments	  	 	28	  
	 Section 4.7
	  	Interest Payment Agreement	  	 	29	  
		
	 ARTICLE V ALLOCATIONS
	  	 	29	  
	 Section 5.1
	  	Allocations for Capital Account Purposes	  	 	29	  
	 Section 5.2
	  	Allocations for Tax Purposes	  	 	31	  
	 Section 5.3
	  	Members’ Tax Reporting	  	 	33	  
	 Section 5.4
	  	Certain Costs and Expenses	  	 	33	  

  
 i 

							
	 ARTICLE VI MANAGEMENT
	  	 	33	  
	 Section 6.1
	  	Managing Member; Delegation of Authority and Duties	  	 	33	  
	 Section 6.2
	  	Officers	  	 	34	  
	 Section 6.3
	  	Liability of Members	  	 	35	  
	 Section 6.4
	  	Indemnification by the Company	  	 	36	  
	 Section 6.5
	  	Liability of Indemnitees	  	 	37	  
	 Section 6.6
	  	Investment Representations of Members	  	 	38	  
		
	 ARTICLE VII WITHDRAWAL; DISSOLUTION; TRANSFER OF MEMBERSHIP INTERESTS; ADMISSION OF NEW MEMBERS
	  	 	38	  
	 Section 7.1
	  	Member Withdrawal	  	 	38	  
	 Section 7.2
	  	Dissolution	  	 	38	  
	 Section 7.3
	  	Transfer by Members	  	 	39	  
	 Section 7.4
	  	Admission or Substitution of New Members	  	 	39	  
	 Section 7.5
	  	Additional Requirements	  	 	41	  
	 Section 7.6
	  	Bankruptcy	  	 	41	  
		
	 ARTICLE VIII BOOKS AND RECORDS; FINANCIAL STATEMENTS AND OTHER INFORMATION; TAX MATTERS
	  	 	41	  
	 Section 8.1
	  	Books and Records	  	 	41	  
	 Section 8.2
	  	Information	  	 	42	  
	 Section 8.3
	  	Fiscal Year	  	 	42	  
	 Section 8.4
	  	Certain Tax Matters	  	 	42	  
		
	 ARTICLE IX MISCELLANEOUS
	  	 	43	  
	 Section 9.1
	  	Separate Agreements; Schedules	  	 	43	  
	 Section 9.2
	  	Governing Law; Disputes	  	 	44	  
	 Section 9.3
	  	Parties in Interest	  	 	44	  
	 Section 9.4
	  	Amendments and Waivers	  	 	45	  
	 Section 9.5
	  	Notices	  	 	45	  
	 Section 9.6
	  	Counterparts	  	 	46	  
	 Section 9.7
	  	Power of Attorney	  	 	46	  
	 Section 9.8
	  	Entire Agreement	  	 	46	  
	 Section 9.9
	  	Remedies	  	 	46	  
	 Section 9.10
	  	Severability	  	 	47	  
	 Section 9.11
	  	Creditors	  	 	47	  
	 Section 9.12
	  	Waiver	  	 	47	  
	 Section 9.13
	  	Further Action	  	 	47	  
	 Section 9.14
	  	Delivery by Facsimile or Email	  	 	47	  

  
 ii 

 AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 TERRAFORM GLOBAL, LLC

 This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of TerraForm Global, LLC, a
Delaware limited liability company (the “Company”), dated and effective as of August 5, 2015 (the “Effective Date”), is made by and among the Members (as defined herein). 

WHEREAS, the Company was formed as a limited liability company in accordance with the Delaware Limited Liability Company Act. 

WHEREAS, certain of the Members were party to that certain Limited Liability Company Agreement of the Company, dated as of December 2,
2014, which was amended, restated and replaced in its entirety by that certain Amended and Restated Limited Liability Company Agreement of the Company, dated as of December 11, 2014, which was amended, restated and replaced in its entirety by
that certain Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of April 3, 2015, which was amended, restated and replaced in its entirety by that certain Second Amended and Restated Limited Liability
Company Agreement of the Company, dated as of May 6, 2015, which was amended, restated and replaced in its entirety by that certain Third Amended and Restated Limited Liability Company Agreement of the Company, dated as of June 9, 2015
(the “Prior Agreement”). 
 WHEREAS, the Members desire to amend and restate the Prior Agreement effective as of the date
hereof for the purpose of changing certain terms of the Prior Agreement. Upon proper execution and delivery of this Agreement, this Agreement amends, restates and replaces in its entirety, the Prior Agreement, which shall have no further force or
effect. 
 NOW, THEREFORE, in consideration of the premises and the covenants and provisions hereinafter contained, the Members hereby adopt
the following: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. 

As used in this Agreement, the following terms have the following meanings: 

“AAA” has the meaning set forth in Section 9.2(b). 

“Act” means the Delaware Limited Liability Company Act, as amended. 

“Additional Member” means any Person that has been admitted to the Company as a Member pursuant to Section 7.4 by
virtue of having received its Membership Interest from the Company and not from any other Member or Assignee. 
 “Adjusted Capital
Account” means the Capital Account maintained for each Member as of the end of each Fiscal Year of the Company, (a) increased by any amounts that such Member is obligated to restore under the standards set by Treasury Regulations
Section 1.704-1(b)(2)(ii)(c) (or is deemed obligated to restore under Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5)) and (b) decreased by (i) the amount of all losses and deductions that, as of the end of such Fiscal
Year, are reasonably expected to be 

 
allocated to such Member in subsequent years under Section 706(d) of the Code and Treasury Regulations Section 1.751-1(b)(2)(ii), and (ii) the amount of all distributions that, as
of the end of such Fiscal Year, are reasonably expected to be made to such Member in subsequent years in accordance with the terms of this Agreement or otherwise to the extent they exceed offsetting increases to such Member’s Capital Account
that are reasonably expected to occur during (or prior to) the year in which such distributions are reasonably expected to be made (other than increases as a result of a minimum gain chargeback pursuant to Section 5.1(b)(i) or
Section 5.1(b)(ii)). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. The
“Adjusted Capital Account” of a Member in respect of a Unit shall be the amount that such Adjusted Capital Account would be if such Unit were the only interest in the Company held by such Member from and after the date on which such Unit
was first issued. 
 “Adjusted Property” means any property the Carrying Value of which has been adjusted pursuant to
Section 3.3(c)(i) or Section 3.3(c)(ii). 
 “Affiliate” means, with respect to any Person, any
Person directly or indirectly through one or more intermediaries, Controlling, Controlled by or under common Control with such Person. 

“Aggregate Quantity of IDR Reset Class B1 Securities” has the meaning set forth in Section 3.8(a). 

“Aggregate Quantity of IDR Reset Class B1 Units” has the meaning set forth in Section 3.8(a). 

“Aggregate Quantity of IDR Reset Shares of Class B1 Common Stock” has the meaning set forth in Section 3.8(a).

 “Agreed Value” of any Contributed Property means the Fair Market Value of such property or other consideration at the
time of contribution as determined by the Managing Member. The Managing Member shall use such method as it determines to be appropriate to allocate the aggregate Agreed Value of Contributed Properties contributed to the Company in a single
transaction or series of related transactions among each separate property on a basis proportional to the Fair Market Value of each Contributed Property. 

“Agreement” has the meaning set forth in the preamble of this Agreement. 

“As Delivered CAFD” means, with respect to any of the Contributed Construction Projects or Substitute Project transferred to
the Company by SunEdison, the CAFD projected, as of such project’s COD, to be generated by such project in the twelve (12) months after such project’s COD taking into account, among other things, the project finance structure, the as-built
system size and the production level to be determined by mutual agreement between Global, Inc. and SunEdison. 
 “Assignee”
means any Transferee to which a Member or another Assignee has Transferred all or a portion of its interest in the Company in accordance with the terms of this Agreement, but that is not admitted to the Company as a Member. 

“Bankruptcy” means, with respect to any Person, (a) if such Person (i) makes an assignment for the benefit of
creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking
for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a
petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any 

  
 2 

 
substantial part of its properties, or (b) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation
or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of
all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to
replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act. 

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act. The terms
“Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Book-Tax Disparity”
means, with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal
income tax purposes as of such date. 
 “Business Day” means Monday through Friday of each week, except that a legal
holiday recognized as such by the government of the United States of America or the State of New York shall not be regarded as a Business Day. 

“CAFD” means net cash provided by (used in) operating activities of the Company (i) plus or minus changes in assets and
liabilities as reflected (or to be reflected) on Global, Inc.’s statements of cash flows, (ii) minus deposits into (or plus withdrawals from) restricted cash accounts required by project financing arrangements to the extent they decrease
(or increase) cash provided by operating activities, (iii) minus cash distributions paid to non-controlling interests in the Company’s projects, if any, (iv) minus scheduled project-level and other debt service payments and repayments
in accordance with the related borrowing arrangements, to the extent they are paid from operating cash flows during a period, (v) minus non-expansionary capital expenditures, if any, to the extent they are paid from operating cash flows during
a period, (vi) plus cash contributions from SunEdison pursuant to the Interest Payment Agreement, (vii) plus operating costs and expenses paid by SunEdison pursuant to the Management Services Agreement to the extent such costs or expenses
exceed the fee payable by the Company pursuant to such agreement but otherwise reduce the Company’s net cash provided by operating activities and (viii) plus or minus operating items as necessary to present the cash flows the Company deems
representative of its core business operations, with the approval of the audit committee of Global, Inc. 
 “CAFD Forbearance
Threshold” means $72.1 million. 
 “Capital Account” means the capital account maintained for a Member pursuant to
Section 3.3 of this Agreement. 
 “Capital Contribution” means, with respect to any Member, the amount of any
cash or cash equivalents or the Fair Market Value of other property contributed or deemed to be contributed to the Company by such Member with respect to any Unit or other Equity Securities issued by the Company (net of liabilities assumed by the
Company or to which such property is subject). 
 “Carrying Value” means (a) with respect to a Contributed Property,
subject to the following sentence, the Agreed Value of such property reduced (but not below zero) by all depreciation, amortization and cost recovery deductions charged to the Members’ Capital Accounts in respect of such Contributed Property,
and (b) with respect to any other Company property, subject to the following sentence and Section 3.3(b)(iv), the adjusted basis of such property for federal income tax purposes, all as of the time of

  
 3 

 
determination. The Carrying Value of any property shall be adjusted from time to time in accordance with Section 3.3(c)(i) and Section 3.3(c)(ii) and to reflect changes,
additions or other adjustments to the Carrying Value for dispositions and acquisitions of Company properties, as deemed appropriate by the Managing Member. 

“Certificate” means the Certificate of Formation of the Company, as amended from time to time, as filed with the Secretary of
State of the State of Delaware. 
 “Chosen Courts” has the meaning set forth in Section 9.2(c). 

“Class A Common Stock” means the Class A common stock, par value $0.01 per share, of Global, Inc. 

“Class A Common Stock Sale” means the sale or issuance by Global, Inc. of one or more shares of Class A Common Stock for
cash to a third party in an arms-length transaction, including in connection with the IPO, other than upon the exercise of an option or right to acquire Class A Common Stock or the conversion or exchange of securities convertible into or
exchange for Class A Common Stock. 
 “Class A Member” means a holder of Class A Units as relates to the
ownership of such Units, executing this Agreement as a Class A Member or hereafter admitted to the Company as a Class A Member as provided in this Agreement, but does not include any Person who has ceased to be a Member; provided,
that that the holder of the Existing Units shall be deemed Class B Member and shall appear on the Schedule of Members as a Class B Member. 

“Class A Unit” means a Unit representing a fractional part of the equity interest in the Company having the rights and
obligations specified with respect to the Class A Units in this Agreement. 
 “Class B Common Stock” means the Class B
common stock, par value $0.01 per share, of Global, Inc. 
 “Class B Member” means a holder of Class B Units as relates to
the ownership of such Units, executing this Agreement as a Class B Member or hereafter admitted to the Company as a Class B Member as provided in this Agreement, but does not include any Person who has ceased to be a Member. 

“Class B Exchange Agreement” means the Class B Exchange Agreement, dated on or about the date hereof among the Managing
Member, the Company and the Persons from time to time party thereto, as it may be amended or supplemented from time to time. 

“Class B Unit” means a Unit representing a fractional part of the equity interest in the Company having the rights and
obligations specified with respect to the Class B Units in this Agreement. 
 “Class B1 Common Stock” means the Class B1
common stock, par value $0.01 per share, of Global, Inc. 
 “Class B1 Member” means a holder of Class B1 Units as relates
to the ownership of such Units, executing this Agreement as a Class B1 Member or hereafter admitted to the Company as a Class B1 Member as provided in this Agreement, but does not include any Person who has ceased to be a Member. 

“Class B1 Exchange Agreement” means the Class B1 Exchange Agreement, dated on or about the date hereof among the Managing
Member, the Company and the Persons from time to time party thereto, as it may be amended or supplemented from time to time. 

  
 4 

 “Class B1 Unit” means a Unit representing a fractional part of the equity
interest in the Company having the rights and obligations specified with respect to the Class B1 Units in this Agreement. 
 “Closed
Acquisition CAFD” with respect to any of the Pending Acquisitions or any Substitute Project, means the CAFD projected, as of the later of such project’s COD or the date we acquire such project, to be generated by such project in the
twelve (12) months after such date taking into account, among other things, the project finance structure, the system size and the production level to be determined by mutual agreement between Global, Inc. and SunEdison. 

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

“Company” has the meaning set forth in the preamble of this Agreement. 

“Company Group” means collectively the Company and its Subsidiaries. 

“Company Group Member” means a member of the Company Group. 

“Company Minimum Gain” has the meaning set forth for the term “partnership minimum gain” in Treasury Regulations
Section 1.704-2(d). 
 “Completed CAFD Amount” means the sum of the (a) the As Delivered CAFD, as of the first
day of such quarter, with respect to the Contributed Construction Projects and any Substitute Projects contributed by SunEdison to the Company in the event any of the identified Contributed Construction Projects fails to achieve COD and
(b) the Closed Acquisition CAFD, as of the first day of such quarter, with respect to the Pending Acquisitions and any Substitute Projects identified by SunEdison in the event any of the identified Pending Acquisitions is not acquired. 

“Contributed Construction Projects” means, collectively, the 57.4 MW solar energy project known as El Naranjal located in
Uruguay, the 17.4 MW solar energy project known as Del Litoral located in Uruguay, the 17.9 MW solar energy projects known as NPS Star located in Thailand, the 17.9 MW solar energy projects known as WXA located in Thailand and the 17.8MW wind energy
project known as Bora Bora located in India, each of which is under construction as of the date of this Agreement. 

“Control” (including the correlative terms “Controlled by” and “Controlling”) means, when used with
reference to any Person, the possession, directly or indirectly, of the power to direct, or to cause the direction of, the management and policies of such Person, whether through ownership of voting securities, by contract or otherwise. 

“Controlled Affiliate” of any Person means any other Person controlled by such Person. As used in this definition,
“controlled by” shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise). 

“Contributed Property” means any property contributed to the Company by a Member. 

“Credit Agreement” means the credit facility by and among SunEdison Holdings Corporation, as borrower, Wells Fargo Bank,
National Association, as administrative agent, Goldman Sachs Bank USA and Deutsche Bank Securities Inc., as joint lead arrangers and joint syndication agents, Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Wells Fargo Securities, LLC and
Macquarie Capital (USA) Inc., as joint bookrunners, and the lenders identified therein. 

  
 5 

 “Credit Facilities” means, one or more debt facilities (including, without
limitation, the Credit Agreement, commercial paper facilities, note purchase agreements, security agreements, mortgages, debentures and indentures) or other forms of indebtedness, in each case, with banks, other institutional lenders or trustees or
any other Persons, providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or
letters of credit, notes or other borrowings in each case, as amended, restated, modified, renewed, refunded, restructured, increased, supplemented, replaced or refinanced (including by means of sales of debt securities to institutional investors)
in whole or in part from time to time (whether upon or after termination or otherwise). 
 “Distribution Forbearance
Period” means the period beginning on the IPO Closing Date and ending on the later of (a) March 31, 2017 or (b) the date that the Completed CAFD Amount exceeds the CAFD Forbearance Threshold. 

“Economic Risk of Loss” has the meaning set forth in Section 5.1(b)(vi). 

“Effective Date” has the meaning set forth in the preamble of this Agreement. 

“Equity Securities” means, as applicable, (i) any capital stock, limited liability company or membership interests,
partnership interests, or other equity interest, (ii) any securities directly or indirectly convertible into or exchangeable for any capital stock, limited liability company or membership interests, partnership interests, or other equity
interest or containing any profit participation features, (iii) any rights or options directly or indirectly to subscribe for or to purchase any capital stock, limited liability company or membership interests, partnership interest, other
equity interest or securities containing any profit participation features or to subscribe for or to purchase any securities directly or indirectly convertible into or exchangeable for any capital stock, limited liability company or membership
interests, partnership interest, other equity interests or securities containing any profit participation features, (iv) any equity appreciation rights, phantom equity rights or other similar rights, or (v) any Equity Securities issued or
issuable with respect to the securities referred to in clauses (i) through (iv) above in connection with a combination, recapitalization, merger, consolidation or other reorganization. 

“Estimated Incremental Quarterly Tax Amount” has the meaning set forth in Section 4.6. 

“Exchange” means the exchange of Class B Units (and corresponding shares of Class B Common Stock) or Class B1 Units (and
corresponding shares of Class B1 Common Stock) for Class A Common Stock pursuant to this Agreement and any Exchange Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder as in effect
from time to time. 
 “Exchange Agreement” means, as applicable, the Class B Exchange Agreement and/or the Class B1
Exchange Agreement. 
 “Exchange Election” has the meaning set forth in Section 3.2(c). 

“Exchange Shares” has the meaning set forth in Section 3.2(c)(iv). 

“Exchanging Member” means a Member Transferring Class B Units (and corresponding shares of Class B Common Stock) or Class B1
Units (and corresponding shares of Class B1 Common Stock) as contemplated in Section 3.2(c). 

  
 6 

 “Existing Units” has the meaning set forth in the preamble of this Agreement.

 “Fair Market Value” means, with respect to any assets or securities, the fair market value for such assets or securities
as determined in good faith by the Managing Member in its sole discretion. 
 “First Target Distribution” means 115% of the
Minimum Quarterly Distribution, subject to adjustment in accordance with Sections 3.8, Section 4.5 and Section 4.6. 

“Fiscal Year” means the fiscal year of the Company which shall end on December 31 of each calendar year unless, for
United States federal income tax purposes, another fiscal year is required. The Company shall have the same fiscal year for United States federal income tax purposes and for accounting purposes. 

“GAAP” means accounting principles generally accepted in the United States of America, consistently applied and maintained
throughout the applicable periods. 
 “Global, Inc.” has the meaning set forth in the preamble of this Agreement. 

“Global, Inc. Charter” means that certain amended and restated certificate of incorporation of Global, Inc. as filed with the
Secretary of State of the State of Delaware on September 26, 2014 and as further amended from time to time in accordance with its terms. 

“Greenshoe Shares” has the meaning set forth in Section 3.2(b)(ii). 

“HSR Act” has the meaning set forth in Section 7.2. 

“IDR” means a non-voting Membership Interest that will confer upon the holder thereof only the rights and obligations
specifically provided in this Agreement with respect to IDR (and no other rights otherwise available to or other obligations of a holder of a Membership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an IDR
shall not be entitled to vote such IDR on any matter except as may otherwise be required by law. 
 “IDR Reset Class B1 Common
Stock” has the meaning set forth in Section 3.8(a). 
 “IDR Reset Class B1 Securities” has the meaning
set forth in Section 3.8(a). 
 “IDR Reset Class B1 Units” has the meaning set forth in
Section 3.8(a). 
 “IDR Reset Election” has the meaning set forth in Section 3.8(a). 

“Income” means individual items of Company income and gain determined in accordance with the definitions of Net Income and
Net Loss. 
 “Incremental Income Taxes” has the meaning set forth in Section 4.6. 

“Indemnitees” means (a) any Person who is or was a member, partner, shareholder, director, officer, fiduciary or trustee
of the Company or any Affiliate of the Company, (b) any Person who is or was serving at the request of the Managing Member as an officer, director, member, partner, fiduciary or trustee of another Person, in each case, acting in such capacity
(provided that a Person shall not be an Indemnitee by reason of providing, on a fee-for-services basis, trustee, fiduciary or custodial services) and (c) any Person the Managing Member designates as an “Indemnitee” for purposes
of this Agreement. 

  
 7 

 “Indenture” means the indenture dated as of or around the date hereof by and
among TerraForm Global Operating, LLC, TerraForm Global, LLC and the Trustee. 
 “Independent Conflicts Committee” means a
committee of the board of directors of Global, Inc. consisting entirely of independent directors. 
 “Interest Payment
Agreement” means the Interest Payment Agreement dated as of the date hereof by and between SunEdison, SunEdison Holdings, the Company and TerraForm Global Operating, LLC. 

“IPO” means the initial public offering and sale of Class A Common Stock (as contemplated by Global, Inc.’s
Registration Statement on Form S-1 (Registration No. 333-203934). 
 “IPO Closing Date” means the closing date of the
sale of shares of Class A Common Stock in the IPO. 
 “Loss” means individual items of Company loss and deduction
determined in accordance with the definitions of Net Income and Net Loss. 
 “Managing Member” means, initially,
Global, Inc. and any assignee to which the managing member of the Company Transfers all Units held by such managing member of the Company that is admitted to the Company as the managing member of the Company, in its capacity as the managing member
of the Company. 
 “Management Services Agreement” means the Management Services Agreement dated as of the date hereof by
and between SunEdison, SunEdison Holdings, Global, Inc., the Company and TerraForm Global Operating, LLC. 
 “Member” means
each Person listed on the Schedule of Members on the date hereof (including the Managing Member) and each other Person who is hereafter admitted as a Member in accordance with the terms of this Agreement and the Act. Any reference in this Agreement
to any Member shall include such Member’s Successors in Interest to the extent such Successors in Interest have become Substituted Members in accordance with the provisions of this Agreement. 

“Member Nonrecourse Debt” has the meaning set forth for the term “partner nonrecourse debt” in Treasury Regulations
Section 1.704-2(b)(4). 
 “Member Nonrecourse Debt Minimum Gain” has the meaning set forth for the term “partner
nonrecourse debt minimum gain” in Treasury Regulations Section 1.704-2(i)(2). 
 “Member Nonrecourse Deduction”
has the meaning set forth for the term “partner nonrecourse deduction” in Treasury Regulation Section 1.704-2(i)(1). 

“Membership Interests” means, collectively, the limited liability company interests of the Members in the Company as
represented by Units and IDRs. 
 “Membership Interest Certificate” has the meaning set forth in Section 3.7.

 “Minimum Quarterly Distribution” means $0.2750 per Unit per Quarter (or with respect to the Quarter that includes the
IPO Closing Date, it means the product of such amount multiplied by a fraction, the numerator of which is the number of days in such Quarter after the IPO Closing Date and the denominator of which is the total number of days in such Quarter)),
subject to adjustment in accordance with Sections 3.8, Section 4.5 and Section 4.6. 

  
 8 

 “National Securities Exchange” means an exchange registered under
Section 6(a) of the Exchange Act and any successor to such statute. 
 “Net Income” means, for any taxable year, the
excess, if any, of the Company’s items of income and gain for such taxable year over the Company’s items of loss and deduction for such taxable year. The items included in the calculation of Net Income shall be determined in accordance
with Section 3.3(b) and shall not include any items specially allocated under Section 5.1(b). 
 “Net
Loss” means, for any taxable year, the excess, if any, of the Company’s items of loss and deduction for such taxable year over the Company’s items of income and gain for such taxable year. The items included in the calculation of
Net Loss shall be determined in accordance with Section 3.3 and shall not include any items specially allocated under Section 5.1(b). 

“Nonrecourse Deductions” means any and all items of loss, deduction, or expenditure (including, without limitation, any
expenditure described in Section 705(a)(2)(B) of the Code) that, in accordance with the principles of Treasury Regulations Section 1.704-2(b), are attributable to a Nonrecourse Liability. 

“Nonrecourse Liability” has the meaning set forth in Treasury Regulations Section 1.752-1(a)(2). 

“Offer Notice” has the meaning set forth in Section 3.9(b). 

“Officer” means each Person designated as an officer of the Company pursuant to and in accordance with the provisions of
Section 6.2, subject to any resolution of the Managing Member appointing such Person as an officer of the Company or relating to such appointment. 

“Pending Acquisitions” has the meaning set forth in Global, Inc.’s Registration Statement filed on Form S-1
(Registration No. 333-203934). 
 “Percentage Interest” means, with respect to any Member as of any date of
determination, the product obtained by multiplying 100% by the quotient obtained by dividing the number of Units held by such Member by the total number of all outstanding Units. 

“Person” means any individual, partnership, corporation, limited liability company, trust or other entity, including any
governmental entity. 
 “Prior Agreement” has the meaning set forth in the recitals hereof. 

“Proceeding” has the meaning set forth in Section 6.4(a). 

“Quarter” means, unless the context requires otherwise, a fiscal Quarter of the Company, or, with respect to the fiscal
quarter of the Company that includes the IPO Closing Date, the portion of such fiscal quarter after the IPO Closing Date. 

“Required Allocations” has the meaning set forth in Section 5.1(b)(ix)(A). 

“Reset MQD” has the meaning set forth in Section 3.8(e). 

“Reset Notice” has the meaning set forth in Section 3.8(b). 

  
 9 

 “ROFR Election Period” has the meaning set forth in Section 3.9(b).

 “Schedule of Members” has the meaning set forth in Section 3.1(b). 

“Second Target Distribution” means 125% of the Minimum Quarterly Distribution, subject to adjustment in accordance with
Sections 3.8, Section 4.5 and Section 4.6. 
 “Securities Act” means the Securities Act of
1933, as amended, and the rules and regulations thereunder as in effect from time to time. 
 “Subordination Period” means
the period beginning on the IPO Closing Date and extending until each of the following tests has been met, which will be a minimum three year period ending no earlier than the beginning of the period for which a distribution is paid for the first
quarter of 2018: 
 (a) distributions of CAFD on each of the outstanding Class A Units, Class B Units and Class B1 Units
equaled or exceeded $1.1000 per Unit (the annualized Minimum Quarterly Distribution) for each of three non-overlapping, four-quarter periods immediately preceding that date; 

(b) the CAFD generated during each of three non-overlapping, four-quarter periods immediately preceding that date equaled or
exceeded the sum of $1.1000 per Unit (the annualized Minimum Quarterly Distribution) on all of the outstanding Class A Units, Class B Units and Class B1 Units during those periods on a fully diluted basis; and 

(c) there are no arrearages in payment of the Minimum Quarterly Distribution on the Class A Units or Class B1 Units. 

Notwithstanding the foregoing, the Subordination Period will automatically terminate when each of the following tests has been met: 

(a) distributions of CAFD on each of the outstanding Class A Units, Class B Units and Class B1 Units equaled or exceeded
$1.6500 per Unit (150% of the annualized Minimum Quarterly Distribution) for the four-quarter period immediately preceding that date; 

(b) the CAFD generated during the four-quarter period immediately preceding that date equaled or exceeded the sum of
(i) $1.6500 per Unit (150% of the annualized Minimum Quarterly Distribution) on all of the outstanding Class A Units, Class B Units and Class B1 Units during such four-quarter period on a fully diluted basis, and (ii) the
corresponding distributions on the IDRs during such four-quarter period; and 
 (c) there are no arrearages in payment of the
Minimum Quarterly Distributions on the Class A Units or Class B1 Units. 
 “Subsidiary” means, with respect to any
Person, any corporation, limited liability company, partnership, association or business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof that is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or
(ii) if a limited liability company, partnership, association or other business entity (other than a corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly,
by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes 

  
 10 

 
hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity (other than a corporation) if
such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall control the management of any such limited liability company, partnership, association or
other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall be given effect only at such times that such Person has one or more Subsidiaries and, unless otherwise indicated, the term
“Subsidiary” refers to a Subsidiary of the Company. 
 “Substitute Project” means a clean energy project
that is (i) not identified on Exhibit A of the Support Agreement that SunEdison, subsequent to determining one or more of the Contributed Construction Projects is not reasonably expected to achieve a commercial operation date in the foreseeable
future, contributes to the Company as a capital contribution without receiving any additional economic interest in the Company or (ii) a project identified as a potential acquisition project by SunEdison in the event any of the identified
Pending Acquisitions is not acquired. 
 “Substituted Member” means a Person who is admitted as a Member to the Company
pursuant to Section 7.5 with all the rights of a Member and who is shown as a Member on the Schedule of Members. 

“Successor in Interest” means any (i) trustee, custodian, receiver or other Person acting in any Bankruptcy or
reorganization proceeding with respect to, (ii) assignee for the benefit of the creditors of, or (iii) trustee or receiver, or current or former officer, director or partner, or other fiduciary acting for or with respect to the
dissolution, liquidation or termination of. 
 “SunEdison” means SunEdison, Inc., a Delaware corporation. 

“Support Agreement” means the Support Agreement dated as of the date hereof by and between SunEdison and the Company. 

“Target Distributions” means each of the Minimum Quarterly Distribution, the First Target Distribution, Second Target
Distribution and Third Target Distribution. 
 “Tax Matters Member” has the meaning set forth in
Section 8.4(d). 
 “Third Target Distribution” means 150% of the Minimum Quarterly Distribution, subject to
adjustment in accordance with Sections 3.8, Section 4.5 and Section 4.6. 
 “Transfer” means
sell, assign, convey, contribute, distribute, give, or otherwise transfer, whether directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, or any act of the foregoing, including any Transfer upon foreclosure of any
pledge, encumbrance, hypothecation or mortgage. The terms “Transferee,” “Transferor,” “Transferred,” “Transferring Member,” “Transferor Member,”
“Transferring Holder” and other forms of the word “Transfer” shall have the correlative meanings. 

“Transferring Holder” has the meaning set forth in Section 3.9(b). 

“Treasury Regulations” means the regulations, including temporary regulations, promulgated by the United States Treasury
Department under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 

“Units” means the Class A Units, the Class B Units , the Class B1 Units and any other series of limited liability
company interests in the Company denominated as “Units” that is established in 

  
 11 

 
accordance with this Agreement, which shall constitute limited liability company interests in the Company as provided in this Agreement and under the Act, entitling the holders thereof to the
relative rights, title and interests in the profits, losses, deductions and credits of the Company at any particular time as set forth in this Agreement, and any and all other benefits to which a holder thereof may be entitled as a Member as
provided in this Agreement, together with the obligations of such Member to comply with all terms and provisions of this Agreement. 

“Unrealized Gain” attributable to any item of Company property means, as of any date of determination, the excess, if any, of
(a) the Fair Market Value of such property as of such date (as determined under Section 3.3(c)) over (b) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to
Section 3.3(c) as of such date). 
 “Unrealized Loss” attributable to any item of Company property means, as of
any date of determination, the excess, if any, of (a) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section 3.3(c) as of such date) over (b) the Fair Market Value of such
property as of such date (as determined under Section 3.3(c)). 
 Section 1.2 Other Definitions. Other terms defined
herein have the meanings so given them. 
 Section 1.3 Construction. Whenever the context requires, the gender of all words used
in this Agreement includes the masculine, feminine, and neuter. All references to Articles and Sections refer to articles and sections of this Agreement, all references to “including” shall be construed as meaning “including without
limitation” and all references to Exhibits are to Exhibits attached to this Agreement, each of which is made a part for all purposes. 

ARTICLE II 

ORGANIZATIONAL AND OTHER MATTERS 

Section 2.1 Formation. The Company was formed as a Delaware limited liability company on October 17, 2014 under the Act by
executing the Limited Liability Agreement of TerraForm Global, LLC, which was amended and restated on December 2, 2014, December 11, 2014, April 3, 2015, May 6, 2015 and June 9, 2015. The Members agree to
continue the Company as a limited liability company under the Act, upon the terms and subject to the conditions set forth in this Agreement. The rights, powers, duties, obligations and liabilities of the Members shall be determined pursuant to the
Act and this Agreement. This Agreement is the “limited liability company agreement” of the Company within the meaning of Section 18-101(7) of the Act. To the extent that this Agreement is inconsistent in any respect with the Act, this
Agreement shall, to the extent permitted by the Act, control. 
 Section 2.2 Name. The name of the Company is “TerraForm
Global, LLC” and the business of the Company shall be conducted under that name, or under any other name adopted by the Managing Member in accordance with the Act. Subject to the Act, the Managing Member may change the name of the Company (and
amend this Agreement to reflect such change) at any time and from time to time without the consent of any other Person. Prompt notification of any such change shall be given to all Members. 

Section 2.3 Limited Liability. The debts, obligations and liabilities of the Company, whether arising in contract, tort or
otherwise, shall be the debts, obligations and liabilities solely of the Company, and a Member shall not be obligated personally for any of such debts, obligations or liabilities solely by reason of being a Member. 

Section 2.4 Registered Office; Registered Agent; Principal Office in the United States; Other Offices. The registered office of
the Company in the State of Delaware shall be the initial registered office 

  
 12 

 
designated in the Certificate or such other office (which need not be a place of business of the Company) as the Managing Member may designate from time to time in the manner provided by law. The
registered agent of the Company in the State of Delaware shall be the initial registered agent designated in the Certificate or such other Person or Persons as the Managing Member may designate from time to time in the manner provided by law. The
registered office of the Company in the United States shall be at the place specified in the Certificate, or such other place(s) as the Managing Member may designate from time to time. The Company may have such other offices as the Managing Member
may determine appropriate. 
 Section 2.5 Purpose; Powers. The Company may carry on any lawful business, purpose or activity
permitted by the Act. The Company may engage in any and all activities necessary, desirable or incidental to the accomplishment of the foregoing. Subject to the provisions of this Agreement and except as prohibited by the Act, (i) the Company
may, with the approval of the Managing Member, enter into and perform any and all documents, agreements and instruments, all without any further act, vote or approval of any Member and (ii) the Managing Member may authorize any Person
(including any Member or Officer) to enter into and perform any document on behalf of the Company. 
 Section 2.6 Existing and Good
Standing; Foreign Qualification. The Managing Member may take all action which may be necessary or appropriate (i) for the continuation of the Company’s valid existence as a limited liability company under the laws of the State of
Delaware (and of each other jurisdiction in which such existence is necessary to enable the Company to conduct the business in which it is engaged) and (ii) for the maintenance, preservation and operation of the business of the Company in
accordance with the provisions of this Agreement and applicable laws and regulations. The Managing Member may file or cause to be filed for recordation in the office of the appropriate authorities of the State of Delaware, and in the proper office
or offices in each other jurisdiction in which the Company is formed or qualified, such certificates (including certificates of limited liability companies and fictitious name certificates) and other documents as are required by the applicable
statutes, rules or regulations of any such jurisdiction or as are required to reflect the identity of the Members and the amounts of their respective capital contributions. Each Member shall execute, acknowledge, swear to and deliver all
certificates and other instruments conforming to this Agreement that are necessary or appropriate to qualify, or, as appropriate, to continue or terminate such qualification of, the Company as a foreign limited liability company in all such
jurisdictions in which the Company may conduct business. 
 Section 2.7 Term. The Company commenced on the date the Certificate
was filed with the Secretary of State of the State of Delaware, and shall continue in existence until it is liquidated or dissolved in accordance with this Agreement and the Act. 

Section 2.8 No State Law Partnership. 

(a) The Members intend that the Company shall not be a partnership (including a limited partnership) or joint venture, and that
no Member or Officer shall be a partner or joint venturer of any other Member or Officer by virtue of this Agreement, for any purposes other than as is set forth in the following sentence of this Section 2.8(a), and this Agreement shall
not be construed to the contrary. The Members intend that the Company shall be treated as a partnership for federal and, if applicable, state or local income tax purposes, as of the date Global, Inc. first becomes a Member, and each Member, Assignee
and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. Neither the Company nor any Member shall take any action inconsistent with such treatment. 

(b) So long as the Company is treated as a partnership for federal income tax purposes, to ensure that Units are not traded on
an established securities market within the meaning of 

  
 13 

 
Treasury Regulations Section 1.7704-1(b) or readily tradable on a secondary market or the substantial equivalent thereof within the meaning of Regulations Section 1.7704-1(c),
notwithstanding anything to the contrary contained herein, (i) the Company shall not participate in the establishment of any such market or the inclusion of its Units thereon, and (ii) the Company shall not recognize any Transfer made on
any such market by: (A) redeeming the Transferor Member (in the case of a redemption or repurchase by the Company); or (B) admitting the Transferee as a Member or otherwise recognizing any rights of the Transferee, such as a right of the
Transferee to receive Company distributions (directly or indirectly) or to acquire an interest in the capital or profits of the Company. 

Section 2.9 Admission. Global, Inc. is hereby designated as the Managing Member of the Company upon its execution of a counterpart
signature page to this Agreement and each Member of the Company immediately prior to the effectiveness of this Agreement (including SunEdison Holdings) shall continue as a Member hereunder. 

ARTICLE III 
 MEMBERS;
CAPITALIZATION 
 Section 3.1 Members; Units. 

(a) Limited Liability Company Interests. Interests in the Company may be represented by Units, or such other Equity
Securities in the Company, or such other Company securities, in each case as the Managing Member may establish in its sole discretion in accordance with the terms hereof. As of the Effective Date, the Units are comprised of three Classes:
“Class A Units,” “Class B Units” and “Class B1 Units.” 
 (b) Schedule of Units; Schedule of
Members. The Company shall maintain a schedule setting forth (i) the name and address of each Member, (ii) the number of Units (by Class) and/or percentage of IDRs owned of record by such Member, (iii) the aggregate number of
outstanding Units by Class (including rights, options or warrants convertible into or exchangeable or exercisable for Units), and (iv) the aggregate amount of cash Capital Contributions that have been made by each of the Members and the Fair
Market Value of any property other than cash contributed by each of the Members with respect to such Units (including, if applicable, a description and the amount of any liability assumed by the Company or to which contributed property is subject)
(such schedule, the “Schedule of Members”). The Schedule of Members shall be the definitive record of ownership of each Unit or other Equity Security in the Company and all relevant information with respect to each Member. The
Company shall be entitled to recognize the exclusive right of a Person registered on its records as the owner of Units or other Equity Securities in the Company for all purposes and shall not be bound to recognize any equitable or other claim to or
interest in Units or other Equity Securities in the Company on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the Act. 

(c) Split of Existing Class B Units and Cancellation of Existing Class D Units. The Class B Units issued and outstanding
(pursuant to the terms of the Prior Agreement) immediately prior to the Effective Date shall automatically be split into 61,343,054 Class B Units on the Effective Date. The Class D Units issued and outstanding (pursuant to the terms of the Prior
Agreement) immediately prior to the Effective Date shall automatically be cancelled on the Effective Date. 

  
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 (d) Class A Units. Class A Units shall only be issuable to
Global, Inc. The Schedule of Members sets forth the identity of all Class A Members and the number of Class A Units held by each Class A Member. The Class A Units shall rank pari passu with, and have all the same rights
(including the rights to share in Net Income and Net Loss or items thereof and distributions made in accordance with Article IV and Section 7.2(c)) and be subject to all of the same obligations, as the Class B Units. 

(e) Class B Units. The Schedule of Members sets forth the identity of all Class B Members and the number of Class B
Units held by each Class B Member. Unless the Company otherwise consents, Class B Units shall only be issuable to SunEdison and Controlled Affiliates of SunEdison from and after the Effective Date. Upon the Exchange contemplated in any Exchange
Election, the Class B Units covered by such Exchange Election shall be exchanged for Exchange Shares pursuant to the Class B Exchange Agreement and this Agreement and, in connection with such Exchange, reclassified as Class A Units. The Class B
Units shall rank pari passu with, and have all the same rights (including the rights to share in Net Income and Net Loss or items thereof and distributions made in accordance with Article IV) and be subject to all of the same
obligations, as the Class A Units. In no event may Class B Units be Transferred unless the Transferor also Transfers to the same Transferee an equal number of shares of Class B Common Stock. All Class B Units transferred by SunEdison to a
Person other than a Controlled Affiliate shall be exchanged (along with a corresponding number of shares of Class B Common Stock) for Exchange Shares pursuant to the Class B Exchange Agreement. 

(f) Class B1 Units. The Schedule of Members sets forth the identity of all Class B1 Members and the number of Class B1
Units held by each Class B1 Members. Upon the Exchange contemplated in any Exchange Election, the Class B1 Units covered by such Exchange Election shall be exchanged for Exchange Shares pursuant to the Class B1 Exchange Agreement and this Agreement
and, in connection with such Exchange, reclassified as Class A Units. The Class B1 Units shall rank pari passu with, and have all the same rights (including the rights to share in Net Income and Net Loss or items thereof and
distributions made in accordance with Article IV) and be subject to all of the same obligations, as the Class A Units. In no event may Class B1 Units be Transferred unless the Transferor also Transfers to the same Transferee an equal number of
shares of Class B1 Common Stock. 
 Section 3.2 Class A Common Stock Sale; Exchanges; Authorization and Issuance of Additional
Units. 
 (a) General. 

(i) A Class B Member may not Transfer, directly or indirectly, all or any portion of its Class B Units except in connection
with (i) a Class A Common Stock Sale, (ii) a Transfer (subject to the provisions of Section 7.3 and Section 7.4) of such Units in accordance with the procedures set forth in Section 3.2(c) or
(iii) unless the Managing Member determines in good faith that a proposed Transfer would violate Section 7.4(c) a Transfer of Class B Units held by such Class B Member to one or more Controlled Affiliates; provided,
however, that SunEdison and its Controlled Affiliates may pledge its Class B or B1 Units in accordance with Section 7.3 of this Agreement. No Transfer of any Class B Units by a Class B Member to a Controlled Affiliate shall effect
a release of the Transferring Class B Member’s obligations under this Agreement to the Class A Members, and as a condition to such Transfer, each such Controlled Affiliate shall expressly assume in writing all of the obligations of the
Transferring Class B Member, whether arising prior to, on or after the date of Transfer, to the Class A Members. All Class B Units transferred 

  
 15 

 
by SunEdison to a Person other than a Controlled Affiliate shall be exchanged (along with a corresponding number of shares of Class B Common Stock) for Exchange Shares pursuant to the Class B
Exchange Agreement. 
 (ii) Without the Company’s written consent which may be subject to any conditions the Company, in
its sole discretion, deems appropriate, a Class B1 Member may not Transfer, directly or indirectly, all or any portion of its Class B1 Units except (subject to the provisions of Section 7.3 and Section 7.4) in connection
with a Transfer of such Class B1 Units in accordance with the procedures set forth in Section 3.2(c). 
 (b)
Class A Common Stock Sale. 
 (i) In connection with any Class A Common Stock Sale, either (A) the
Managing Member shall cause the Company to use the related net cash proceeds from such sale (upon the receipt thereof from Global, Inc.) to issue Class A Units to Global, Inc., in an amount equal to the number of shares of Class A Common
Stock related to such Class A Common Stock Sale or (B) Global, Inc., subject to the the agreement of the applicable Member, shall purchase Class B Units or Class B1 Units directly from a Member (in which case a corresponding number of
shares Class B Common Stock or Class B1 Common Stock, as applicable, held by such Member would be surrendered by such Member to Global, Inc.), and such Class B Units or Class B1 Units purchased by Global, Inc. would then immediately convert to
Class A Units upon the consummation of such purchase and delivered to Global, Inc. Upon the receipt of the shares of Class B Common Stock or Class B1 Common Stock, as applicable, specified in this Section 3.2(b)(i), Global, Inc.
shall cause such shares to be cancelled. The determination of how to apply the net cash proceeds received by the Company from any Class A Common Stock Sale shall be made in the Managing Member’s sole discretion. For the avoidance of doubt,
the provisions of this Section 3.2(b)(i) do not provide the Company or Global, Inc. the right to purchase Class B Units or Class B1 Units from a Member or require a Member to sell Class B Units or Class B1 Units to either the Company or
the Global, Inc. without such Member, in their sole discretion, agreeing to the terms of any such purchase and sale. 
 (ii)
Notwithstanding the last sentence of Section 3.1(b)(i) of this Agreement, the Company, Global, Inc. and SunEdison agree that in connection with the IPO, to the extent the underwriters exercise all or a portion of their option to purchase
up to 6,750,000 additional shares of Class A Common Stock (the “Greenshoe Shares”), SunEdison agrees to sell to Global, Inc. and Global, Inc. agrees to purchase, in exchange for net proceeds received from the underwriters with
respect to such shares, in the manner set forth in Section 3.2(b)(i), a number of Class B Units (and a corresponding number of shares of Class B Common Stock ) equal to the number of Greenshoe Shares purchased by the underwriters. 

(iii) The Company, the Class A Member and the participating Members shall bear their own expenses in connection with the
consummation of any Class A Common Stock Sale, except that the Company shall bear any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, any Class A Common Stock Sale. 

(c) Exchanges. Subject to the provisions of Section 7.4, each Class B Unit and each Class B1 Unit together
with a corresponding number of shares of Class B Common Stock or Class B1 Common Stock, as applicable, will be exchangeable for a share of Class A Common Stock, 

  
 16 

 
subject to equitable adjustments for stock splits, stock dividends and reclassifications in accordance with the terms of the applicable Exchange Agreement. An Exchanging Class B Member or
Exchanging Class B1 Member shall deliver to the Managing Member the written election of exchange (an “Exchange Election”) as contemplated by Section 2.1(b) of the applicable Exchange Agreement. In connection with any Exchange,
the Exchanging Member shall surrender Class B Units or Class B1 Units and a corresponding number of shares of Class B Common stock or Class B1 Common Stock and: 

(i) the Company will cancel the surrendered Class B Units or Class B1 Units; 

(ii) the Company will issue a corresponding number of additional Class A Units to Global, Inc.; 

(iii) Global, Inc. will cancel a corresponding number of shares of Class B Common Stock or Class B1 Common Stock; and 

(iv) Global, Inc. will issue a corresponding number of shares of Class A Common Stock to the Exchanging Member (the
“Exchange Shares”). 
 (d) Authorization and Issuance of Additional Units. 

(i) Subject to the limitations on issuing additional Units set forth in this Agreement (including Section 7.4), the
requirements set forth in the Exchange Agreements and any applicable listing exchange requirements, the Managing Member may issue additional Classes of Units, other Equity Securities in the Company or other Company securities from time to time with
such rights, obligations, powers, designations, preferences and other terms, which may be different from, including senior to, any then-existing or future Classes of Units, other Equity Securities in the Company or other Company securities, as the
Managing Member shall determine from time to time, in its sole discretion, without the vote or consent of any other Member or any other Person, including (i) the right of such Units, other Equity Securities in the Company or other Company
securities to share in Net Income and Net Loss or items thereof, (ii) the right of such Units, other Equity Securities in the Company or other Company securities to share in Company distributions, (iii) the rights of such Units, other
Equity Securities or other Company securities upon dissolution and liquidation of the Company, (iv) whether, and the terms and conditions upon which, the Company may or shall be required to redeem such Units, other Equity Securities in the
Company or other Company securities (including sinking fund provisions), (v) whether such Units, other Equity Securities in the Company or other Company securities are issued with the privilege of conversion or exchange and, if so, the terms
and conditions of such conversion or exchange, (vi) the terms and conditions upon which such Units, other Equity Securities in the Company or other Company securities will be issued, evidenced by certificates or assigned or transferred,
(vii) the terms and conditions of the issuance of such Units, other Equity Securities in the Company or other Company securities (including, without limitation, the amount and form of consideration, if any, to be received by the Company in
respect thereof, the Managing Member being expressly authorized, in its sole discretion, to cause the Company to issue Units, other Equity Securities in the Company or other Company securities for less than Fair Market Value), and (viii) the
right, if any, of the holder of such Units, other Equity Securities in the Company or other Company securities to vote on Company matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units,
other Equity Securities in the Company or other Company securities. The Managing 

  
 17 

 
Member, without the vote or consent of any other Member or any other Person but subject to Sections 3.1(d) and 3.1(e) and any applicable listing exchange requirements, is authorized
(i) to issue any Units, other Equity Securities in the Company or other Company securities of any such newly established Class, and (ii) to amend this Agreement to reflect the creation of any such new series, the issuance of Units, other
Equity Securities in the Company or other Company securities of such series, and the admission of any Person as a Member which has received Units or other Equity Securities of any such Class, in accordance with this Section 3.2,
Section 7.3 and Section 9.4. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Class A Units, the Class B Units and any other series of Units that may be
established in accordance with this Agreement. 
 (ii) If Global, Inc. issues another class or series of equity securities
(other than Class A Common Stock, Class B Common Stock or Class B1 Common Stock), the Company shall authorize and issue in accordance with Section 3.2(d)(i) of this Agreement, and Global, Inc. will use the net proceeds therefrom to
purchase, an equal number of membership interests with designations, preferences and other rights and terms that are substantially the same as those of Global, Inc.’s newly-issued equity securities. 

(iii) If Global, Inc. issues shares of Class A Common Stock (other than in a Class A Common Stock Sale), the Company
shall authorize and issue, and Global, Inc. will use the net proceeds therefrom to purchase, an equal number of Class A Units. In the event Global, Inc. issues shares of Class A common stock that are subject to forfeiture or cancellation
(e.g. restricted stock), the corresponding Class A Unit will be issued subject to similar forfeiture or cancellation provisions. 

(iv) If Global, Inc. issues shares of Class B Common Stock, the Company shall authorize and issue to the purchaser of such
shares of Class B Common Stock an equal number of Class B Units, and Global, Inc. will transfer the net proceeds therefrom to the Company. 

(v) If Global, Inc. issues shares of Class B1 Common Stock, the Company shall authorize and issue to the purchaser of such
shares of Class B1 Common Stock an equal number of Class B1 Units, and Global, Inc. will transfer the net proceeds therefrom to the Company. 

(vi) In the event Global, Inc. elects to redeem any shares of its Class A Common Stock or any other class or series of its
equity securities except shares of its Class B Common Stock or Class B1 Common Stock for cash, the Company will, immediately prior to such redemption, redeem an equal number of Class A Units or any other Units of the corresponding classes or
series, upon the same terms and for the same price as the shares of Class A Common Stock or other equity securities of Global, Inc. so redeemed. 

(e) In no event will any unit distribution, unit splits, reverse unit splits, combinations of units, reclassifications or
recapitalizations be declared or made on any Class A Units, Class B Units or Class B1 Units, as the case may be, unless contemporaneously therewith, the Class A Units, Class B Units or Class B1 Units, at the time outstanding, are treated
in the same proportion and the same manner. 
 (f) [Reserved] 

  
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 (g) Lender Foreclosure. Upon in the event that the lenders identified in
the Credit Facilities exercise their right to foreclose on securities pledged pursuant to Section 7.3 of this Agreement, to the extent such securities constitute Class B Units or Class B1 Units, such Class B Units or Class B1 Units
(together with a corresponding number of shares of Class B Common Stock or Class B1 Common Stock) shall be automatically converted into shares of Class A Common Stock (subject to equitable adjustments for stock splits, stock dividends and
reclassifications in accordance with the terms of the Class B or B1 Exchange Agreement, as applicable) without any action on the part of SunEdison, its Controlled Affiliates, the lenders, the Company, the Managing Member or any other Member,
immediately upon the foreclosure. 
 Section 3.3 Capital Account. 

(a) The Managing Member shall maintain for each Member owning Units a separate Capital Account with respect to such Units in
accordance with the rules of Treasury Regulations Section 1.704-1(b)(2)(iv). Such Capital Account shall be increased by (i) the amount of all Capital Contributions made to the Company with respect to such Units pursuant to this Agreement
and (ii) all items of Company income and gain (including, without limitation, income and gain exempt from tax) computed in accordance with Section 3.3(b) and allocated with respect to such Units pursuant to Section 5.1,
and decreased by (x) the amount of cash or Fair Market Value of all actual and deemed distributions of cash or property made with respect to such Units pursuant to this Agreement and (y) all items of Company deduction and loss computed in
accordance with Section 3.3(b) and allocated with respect to such Units pursuant to Section 5.1. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended
to comply with Treasury Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such Treasury Regulations. In the event the Managing Member shall determine that it
is prudent to modify the manner in which the Capital Accounts or any adjustments thereto (including, without limitation, adjustments relating to liabilities which are secured by contributed or distributed property or which are assumed by the Company
or any Members) are computed in order to comply with such Treasury Regulations, the Managing Member, without the consent of any other Person, may make such modification, notwithstanding the terms of this Agreement; provided that it is not
likely to have a material effect on the amounts distributed or distributable to any Person pursuant to Article VII hereof upon the dissolution of the Company. The Managing Member, without the consent of any other Person, also shall
(i) make any adjustments, notwithstanding the terms of this Agreement, that are necessary or appropriate to maintain equality among the Capital Accounts of the Members and the amount of capital reflected on the Company’s balance sheet, as
computed for book purposes, in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(q), and (ii) make any appropriate modifications, notwithstanding the terms of this Agreement, in the event unanticipated events might otherwise
cause this Agreement not to comply with Treasury Regulations Section 1.704-1(b). 
 (b) For purposes of computing the
amount of any item of income, gain, loss or deduction, which is to be allocated pursuant to Article V and is to be reflected in the Members’ Capital Accounts, the determination, recognition and classification of any such item shall be
the same as its determination, recognition and classification for federal income tax purposes (including, without limitation, any method of depreciation, cost recovery or amortization used for that purpose); provided, that: 

(i) Solely for purposes of this Section 3.3, the Company shall be treated as owning directly its proportionate
share (as determined by the Managing Member) of all property owned by any partnership, limited liability company, unincorporated business or other entity or arrangement that is classified as a partnership or disregarded entity for federal income tax
purposes, of which the Company is, directly or indirectly, a partner (in the case of a partnership) or owner (in the case of a disregarded entity). 

  
 19 

 (ii) Except as otherwise provided in Treasury Regulations
Section 1.704-1(b)(2)(iv)(m), the computation of all items of income, gain, loss and deduction shall be made without regard to any election under Section 754 of the Code which may be made by the Company and, as to those items described in
Section 705(a)(1)(B) or 705(a)(2)(B) of the Code, without regard to the fact that such items are not includable in gross income or are neither currently deductible nor capitalized for federal income tax purposes. To the extent an adjustment to
the adjusted tax basis of any Company asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount
of such adjustment in the Capital Accounts shall be treated as an item of gain or loss. 
 (iii) Any income, gain or loss
attributable to the taxable disposition of any Company property shall be determined as if the adjusted basis of such property as of such date of disposition were equal in amount to the Company’s Carrying Value with respect to such property as
of such date. 
 (iv) In accordance with the requirements of Section 704(b) of the Code, any deductions for
depreciation, cost recovery or amortization attributable to any Contributed Property shall be determined in the manner described in Treasury Regulations Section 1.704-1(b)(2)(iv)(g)(3) as if the adjusted basis of such property on the date it
was acquired by the Company were equal to the Agreed Value of such property. Upon an adjustment pursuant to Section 3.3(c) to the Carrying Value of any Adjusted Property that is subject to depreciation, cost recovery or amortization, any
further deductions for such depreciation, cost recovery or amortization attributable to such property shall be determined in the manner described in Treasury Regulations Sections 1.704-1(b)(2)(iv)(g)(3) and 1.704-3(a)(6)(i) as if the adjusted basis
of such property were equal to the Carrying Value of such property immediately following such adjustment; provided, however, that, if the asset has a zero adjusted basis for federal income tax purposes, depreciation, cost recovery or
amortization deductions shall be determined using any method that the Managing Member may adopt. 
 (c) If a Member Transfers
an interest in the Company to a new or existing Member, the Transferee Member shall succeed to that portion of the Transferor’s Capital Account that is attributable to the Transferred interest. Any reference in this Agreement to a Capital
Contribution of, or Distribution to, a Member that has succeeded any other Member shall include any Capital Contributions or Distributions previously made by or to the former Member on account of the interest of such former Member Transferred to
such successor Member. In addition, the following shall apply: 
 (i) In accordance with Treasury Regulations
Section 1.704-1(b)(2)(iv)(f), on an issuance of additional Units for cash or Contributed Property, the Capital Account of all Members and the Carrying Value of each Company property immediately prior to such issuance shall be adjusted upward or
downward to reflect any Unrealized Gain or Unrealized Loss attributable to such Company property, as if such Unrealized Gain or Unrealized Loss had been recognized on an actual sale of each such property immediately prior to such issuance and had
been allocated to the Members at such time pursuant to Section 5.1 in the same manner as a corresponding item of gain or loss actually recognized 

  
 20 

 
during such period would have been allocated. In determining such Unrealized Gain or Unrealized Loss, the aggregate cash amount and Fair Market Value of all Company assets (including, without
limitation, cash or cash equivalents) immediately prior to the issuance of additional Units shall be determined by the Managing Member using such method of valuation as it may adopt; provided, however, that the Managing Member, in
arriving at such valuation, must take fully into account the Fair Market Value of the Units of all Members at such time. The Managing Member shall allocate such aggregate value among the assets of the Company (in such manner as it determines) to
arrive at a Fair Market Value for individual properties. 
 (ii) In accordance with Treasury Regulations
Section 1.704-1(b)(2)(iv)(f), immediately prior to any actual or deemed distribution to a Member of any Company property (other than a distribution of cash that is not in redemption or retirement of a Unit), the Capital Accounts of all Members
and the Carrying Value of all Company property shall be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to such Company property, as if such Unrealized Gain or Unrealized Loss had been recognized in a sale
of such property immediately prior to such distribution for an amount equal to its Fair Market Value, and had been allocated to the Members, at such time, pursuant to Section 5.1 in the same manner as a corresponding item of gain or loss
actually recognized during such period would have been allocated. In determining such Unrealized Gain or Unrealized Loss, the aggregate cash amount and Fair Market Value of all Company assets (including, without limitation, cash or cash equivalents)
immediately prior to a distribution shall (A) in the case of an actual distribution that is not made pursuant to Article VII or in the case of a deemed distribution, be determined and allocated in the same manner as that provided in
Section 3.3(c) or (B) in the case of a liquidating distribution pursuant to Article VII, be determined and allocated by the Person winding up the Company pursuant to Section 7.2(c) using such method of valuation
as it may adopt. 
 (iii) The Managing Member may make the adjustments described in this Section 3.4(d) in the
manner set forth herein if the Managing Member determines that such adjustments are necessary or useful to effectuate the intended economic arrangement among the Members, including Members who received Units in connection with the performance of
services to or for the benefit of the Company. 
 (d) Notwithstanding anything expressed or implied to the contrary in this
Agreement, in the event the Managing Member shall determine, in its sole and absolute discretion, that it is prudent to modify the manner in which the Capital Accounts, or any debits or credits thereto, are computed in order to effectuate the
intended economic sharing arrangement of the Members, the Managing Member may make such modification, notwithstanding any other provision hereof, without the consent of any other Person. 

Section 3.4 No Withdrawal. No Person shall be entitled to withdraw any part of such Person’s Capital Contributions or Capital
Account or to receive any distribution from the Company, except as expressly provided herein. 
 Section 3.5 Loans From Members.
Loans by Members to the Company shall not be considered Capital Contributions. If any Member shall loan funds to the Company, then the making of such loans shall not result in any increase in the Capital Account balance of such Member. The amount of
any such loans shall be a debt of the Company to such Member and shall be payable or collectible in accordance with the terms and conditions upon which such loans are made. 

  
 21 

 Section 3.6 No Right of Partition. To the fullest extent permitted by law, no Member
shall have the right to seek or obtain partition by court decree or operation of law of any property of the Company or any of its Subsidiaries or the right to own or use particular or individual assets of the Company or any of its Subsidiaries, or,
except as expressly contemplated by this Agreement, be entitled to distributions of specific assets of the Company or any of its Subsidiaries. 

Section 3.7 Non-Certification of Units; Legend; Units are Securities. 

(a) Units shall be issued in non-certificated form; provided that the Managing Member may cause the Company to issue
certificates to a Member representing the Units held by such Member. 
 (b) If the Managing Member determines that the
Company shall issue certificates representing Units to any Member, the following provisions of this Section 3.7 shall apply: 

(i) The Company shall issue one or more certificates in the name of such Person in such form as it may approve, subject to
Section 3.7(b)(ii) (a “Membership Interest Certificate”), which shall evidence the ownership of the Units represented thereby. Each such Membership Interest Certificate shall be denominated in terms of the number of
Units evidenced by such Membership Interest Certificate and shall be signed by the Managing Member or an Officer on behalf of the Company. 

(ii) Each Membership Interest Certificate shall bear a legend substantially in the following form: 

THIS CERTIFICATE EVIDENCES A CLASS UNIT REPRESENTING AN INTEREST IN TERRAFORM GLOBAL, LLC AND SHALL CONSTITUTE A “SECURITY” WITHIN
THE MEANING OF, AND SHALL BE GOVERNED BY, (I) ARTICLE 8 OF THE UNIFORM COMMERCIAL CODE (INCLUDING SECTION 8-102(A)(15) THEREOF) AS IN EFFECT FROM TIME TO TIME IN THE STATE OF DELAWARE, AND (II) THE CORRESPONDING PROVISIONS OF THE UNIFORM
COMMERCIAL CODE OF ANY OTHER APPLICABLE JURISDICTION THAT NOW OR HEREAFTER SUBSTANTIALLY INCLUDES THE 1994 REVISIONS TO ARTICLE 8 THEREOF AS ADOPTED BY THE AMERICAN LAW INSTITUTE AND THE NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS AND
APPROVED BY THE AMERICAN BAR ASSOCIATION ON FEBRUARY 14, 1995. 
 THE LIMITED LIABILITY COMPANY INTERESTS IN TERRAFORM GLOBAL, LLC HAVE NOT
BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE SECURITIES LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH INTERESTS MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE SECURITIES LAWS OF
ANY STATE AND ANY OTHER APPLICABLE SECURITIES LAWS; (II) THE TERMS AND CONDITIONS OF THIS FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT; AND (III) ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BETWEEN THE MANAGING MEMBER

  
 22 

 
AND THE APPLICABLE MEMBER. THE LIMITED LIABILITY COMPANY INTERESTS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS, THIS FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY
AGREEMENT AND ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BY THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THEREFORE, PURCHASERS AND OTHER TRANSFEREES OF SUCH LIMITED LIABILITY COMPANY INTERESTS WILL BE REQUIRED TO BEAR THE RISK OF THEIR
INVESTMENT OR ACQUISITION FOR AN INDEFINITE PERIOD OF TIME. 
 THE INTERESTS IN TERRAFORM GLOBAL, LLC REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN THE FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF TERRAFORM GLOBAL, LLC, DATED AS OF             , 2015, BY AND AMONG
EACH OF THE MEMBERS FROM TIME TO TIME PARTY THERETO, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. 
 (iii) Each Unit shall
constitute a “security” within the meaning of, and shall be governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8-102(a)(15) thereof) as in effect from time to time in the State of Delaware, and
(ii) the corresponding provisions of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National
Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995. 

(iv) The Company shall issue a new Membership Interest Certificate in place of any Membership Interest Certificate previously
issued if the holder of the Units represented by such Membership Interest Certificate, as reflected on the books and records of the Company: 

(A) makes proof by affidavit, in form and substance satisfactory to the Company, that such previously issued Membership
Interest Certificate has been lost, stolen or destroyed; 
 (B) requests the issuance of a new Membership Interest
Certificate before the Company has notice that such previously issued Membership Interest Certificate has been acquired by a purchaser for value in good faith and without notice of an adverse claim; 

(C) if requested by the Company, delivers to the Company such security, in form and substance satisfactory to the Company, as
the Managing Member may direct, to indemnify the Company against any claim that may be made on account of the alleged loss, destruction or theft of the previously issued Membership Interest Certificate; and 

(D) satisfies any other reasonable requirements imposed by the Company. 

(v) Upon a Member’s Transfer in accordance with the provisions of this Agreement of any or all Units represented by a
Membership Interest Certificate, the 

  
 23 

 
Transferee of such Units shall deliver such Membership Interest Certificate, duly endorsed for Transfer by the Transferee, to the Company for cancellation, and the Company shall thereupon issue a
new Membership Interest Certificate to such Transferee for the number of Units being Transferred and, if applicable, cause to be issued to such Transferring Member a new Membership Interest Certificate for the number of Units that were represented
by the canceled Membership Interest Certificate and that are not being Transferred. 
 Section 3.8 Reset of Incentive Distribution
Rights; Issuance of Class B1 Units in Connection with Reset of Incentive Distribution Rights. 
 (a) Subject to the
provisions of this Section 3.8, the holder of the IDRs (or, if there is more than one holder of the IDRs, the holders of a majority in interest of the IDRs) shall have the right, exercisable at its option at any time the Company has made
distributions in excess of the Third Target Distribution Level for each of the four most recently completed Quarters, to make an election (the “IDR Reset Election”) to cause the Target Distributions to be reset in accordance with
the provisions of 
Section 3.8(e) and, in connection therewith, the holder or holders of the IDRs will become entitled to receive their respective proportionate share of a number of Class B1 Units (the “IDR Reset Class B1
Units”) derived by dividing (i) the average aggregate amount of cash distributions made by the Company for the two full Quarters immediately preceding the giving of the Reset Notice (as defined in Section 3.8(b)) in respect
of the IDRs by (ii) the average of the aggregated amount of the cash distributions made by the Company in respect of each Class A Unit, Class B1 Unit and Class B Unit for the two full Quarters immediately preceding the giving of the Reset
Notice (the number of Class B1 Units determined by such quotient is referred to herein as the “Aggregate Quantity of IDR Reset Class B1 Units”). In addition to the Aggregate Quantity of IDR Reset Class B1 Units, the holder or
holders of IDRs will become entitled to receive a number of Shares of Class B1 common stock (the “IDR Reset Class B1 Common Stock” and together with the IDR Reset Class B1 Units the “IDR Reset Class B1 Securities”)
equal to the number of Class B1 Units they are entitled to receive as calculated pursuant to the preceding sentence (such shares are referred to as the “Aggregate Quantity of IDR Reset Shares of Class B1 Common Stock” and together
with the Aggregate Quantity of IDR Reset Class B1 Units the “Aggregate Quantity of IDR Reset Class B1 Securities”). The making of the IDR Reset Election in the manner specified in Section 3.8(b) shall cause each of the
Target Distributions to be reset in accordance with the provisions of Section 3.8(e) and, in connection therewith, the holder or holders of the IDRs will become entitled to receive IDR Reset Class B1 Securities on the basis
specified above, without any further approval required by the Managing Member or the Members, at the time specified in Section 3.8(c) unless the IDR Reset Election is rescinded pursuant to Section 3.8(d). 

(b) To exercise the right specified in Section 3.8(a), the holder of the IDRs (or, if there is more than one holder
of the IDRs, the holders of a majority in interest of the IDRs) shall deliver a written notice (the “Reset Notice”) to the Company. Within 10 Business Days after the receipt by the Company of such Reset Notice, the Company shall
deliver a written notice to the holder or holders of the IDRs of the Company’s determination of the aggregate number of IDR Reset Class B1 Securities that each holder of IDRs will be entitled to receive. 

(c) The holder or holders of the IDRs will be entitled to receive the Aggregate Quantity of IDR Reset Class B1 Securities on
the fifteenth Business Day after receipt by the Company of the Reset Notice; provided, however, that the issuance of IDR Reset Class B1 Securities to the holder or holders of the IDRs shall not occur prior to the approval of the
listing or admission for trading, by the principal National Securities Exchange upon which the shares of Class A Common Stock are then listed or admitted for trading if any such approval is required pursuant to the rules and regulations of such
National Securities Exchange, of such shares of Class A Common Stock into which such IDR Reset Class B1 Securities are exchangeable. 

  
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 (d) If the principal National Securities Exchange upon which shares of the
Class A Common Stock are then traded has not approved the listing or admission for trading of the Class A Common Stock to be issued pursuant to this Section 3.8 on or before the 30th calendar day following the Company’s
receipt of the Reset Notice and such approval is required by the rules and regulations of such National Securities Exchange, then the holder of the IDRs (or, if there is more than one holder of the IDRs, the holders of a majority in interest of the
IDRs) shall have the right to either rescind the IDR Reset Election or elect to receive other Membership Interests having such terms as the Manager and the board of directors of Global, Inc. may approve, with the approval of an Independent Conflicts
Committee, that will provide (i) the same economic value, in the aggregate, as the Aggregate Quantity of IDR Reset Class B1 Securities would have had at the time of the Company’s receipt of the Reset Notice, as determined by the Managing
Member (acceptable to the holder of the IDRs (or, if there is more than one holder of the IDRs, the holders of a majority in interest of the IDRs), and (ii) for the subsequent conversion (on terms acceptable to the National Securities Exchange
upon which the shares of the Class A Common Stock are then traded) of such Membership Interests into Units within not more than 12 months following the Company’s receipt of the Reset Notice upon the satisfaction of one or more conditions
that are reasonably acceptable to the holder of the IDRs (or, if there is more than one holder of the IDRs, the holders of a majority in interest of the IDRs). 

(e) The Target Distributions shall be adjusted at the time of the issuance of Class B1 Units or other Units pursuant to this
Section 3.8 such that (i) the Minimum Quarterly Distribution shall be reset to equal the average cash distribution amount per Class A Unit, Class B Unit and Class B1 for the two Quarters immediately prior to the Company’s
receipt of the Reset Notice (the “Reset MQD”), (ii) the First Target Distribution shall be reset to equal 115% of the Reset MQD, (iii) the Second Target Distribution shall be reset to equal 125% of the Reset MQD and
(iv) the Third Target Distribution shall be reset to equal 150% of the Reset MQD. 
 Section 3.9 Transferability of IDRs.

 (a) The IDRs will be initially issued to SunEdison Holdings (or SunEdison or a Controlled Affiliate of SunEdison
designated by SunEdison) and may be transferred to any other person subject to compliance with the provisions of
 Section 7.4(c). 

(b) Except for a Transfer to SunEdison or a Controlled Affiliate of SunEdison, at least 30 Business Days prior to making any
Transfer of any IDRs, the Transferring Holder (the “Transferring Holder”) shall give written notice (an “Offer Notice”) to the Company. The Offer Notice shall disclose in reasonable detail the amount of IDRs to be
Transferred, the price of the IDRs being Transferred, the other terms and conditions of the Transfer and the identity, background and ownership (if applicable) of the proposed Transferee(s), and the Offer Notice shall constitute a binding offer to
sell the such IDRs described therein to the Company. The Company may elect to purchase all (but not less than all) of the IDRs to be Transferred upon the same terms and conditions as those set forth in the Offer Notice by giving written notice of
such election to the Transferring Holder within 30 Business Days after the Offer Notice has been given to the Company (the “ROFR Election Period”). If the Company has not elected to purchase all of the IDRs specified in the Offer
Notice, the Transferring Holder may Transfer the IDRs specified in the Offer Notice to the Transferee(s) specified therein at a price and on terms no more favorable to the Transferee(s) thereof than specified in the Offer Notice during the 30-day
period immediately following the ROFR Election Period. If the Company has elected to purchase IDRs from the Transferring Holder 

  
 25 

 
hereunder, the Transfer of such shares shall be consummated as soon as practical after the election notice(s) have been given to the Transferring Holder, but in any event within 30 days after the
expiration of the ROFR Election Period. The purchase price specified in any Offer Notice shall be payable solely in cash at the closing of the transaction. For the avoidance of doubt, the term “Transfer” as used in this Section, shall not
include (i) any Transfer that may be deemed to arise as a result of the sale or issuance of voting securities issued by the holder of the IDRs unless such sale or issuance would result in a person (other than SunEdison or a Controlled Affiliate
of SunEdison) becoming the Beneficial Owner, directly or indirectly, of more than 50% of the total outstanding voting securities issued by the holder of the IDRs, measured by voting power rather than number of securities and (ii) any pledge of
the IDRs by SunEdison, and any related foreclosure thereof, to lenders as security under its Credit Facilities. 
 Section 3.10
[Reserved] 
 Section 3.11 Outside Activities of the Members. Any Member or any of their respective Affiliates shall be entitled
to have business interests and engage in business activities in addition to those relating to the Company, including business interests and activities in direct competition with the Company or any of its Subsidiaries or any Person in which the
Company or any of its Subsidiaries has an ownership interest. Neither the Company nor any of the other Members shall have any rights by virtue of this Agreement in any business ventures of any other Member. 

ARTICLE IV 

DISTRIBUTIONS 

Section 4.1 Determination of Distributions. Distributions shall be allocated and made (i) of cash in respect of a specific
Quarter as provided in Section 4.1(a)-(c), in accordance with the respective number of Units of the Company held, and (ii) in respect of all other distributions (e.g. distributions in respect of a winding-up, liquidation and extraordinary
transactions), in accordance with the respective number of Units of the Company held. 
 (a) Distributions During the
Subordination Period. Distributions of cash for any Quarter ending before the end of the Subordination Period shall be made in the following manner: 

(i) first, to the holders of Class A Units and Class B1 Units, pro rata, until the Company distributes for each
Class A Unit and Class B1 Unit an amount equal to the Minimum Quarterly Distribution for that Quarter and any arrearages in payment of the Minimum Quarterly Distribution on such Units for any prior quarters; 

(ii) second, subject to Section 4.1(d), to all Class B Members, pro rata, until the Company distributes for
each Class B Unit an amount equal to the Minimum Quarterly Distribution for that Quarter; 
 (iii) thereafter, in the
manner described by Section 4.1(c). 
 (b) Distributions After the Subordination Period. Distributions of
cash for any Quarter ending after the end of the Subordination Period, shall be be made in the following manner: 
 (i)
first, to all Class A Members, Class B1 Members and Class B Members, pro rata, until the Company distributes for each Unit an amount equal to the Minimum Quarterly Distribution for that Quarter, subject to Section 4.1(d);

  
 26 

 (ii) thereafter, in the manner described by Section 4.1(c).

 (c) Additional Distributions. If in respect of any specific Quarter, (i) the Company has made cash
distributions to the holders of its Class A Units, Class B1 Units and, subject to Section 4.1(d), Class B Units in an amount equal to the Minimum Quarterly Distribution, and (ii) the Company has distributed cash to holders of
Class A Units and holders of Class B1 Units in an amount necessary to eliminate any arrearages in payment of the Minimum Quarterly Distribution, then, subject to
 Section 4.1(d), the Company will make additional cash
distributions in respect of that specific Quarter among holders of its Class A Units, Class B Units, Class B1 Units and the IDRs in the following manner: 

(i) first, to all holders of Class A Units, Class B1 Units and Class B Units, pro rata, until each holder receives
a total of $0.3163 per Unit for that Quarter, or the First Target Distribution” (115% of the Minimum Quarterly Distribution); 

(ii) second, 85.0% to all holders of Class A Units, Class B1 Units and Class B Units, pro rata, and 15.0% to the
holders of the IDRs, until each holder of Class A Units, Class B1 Units and Class B Units receives a total of $0.3438 per Unit for that Quarter, or the Second Target Distribution” (125% of the Minimum Quarterly Distribution); 

(iii) third, 75.0% to all holders of Class A Units, Class B1 Units and Class B Units, pro rata, and 25.0% to the
holders of the IDRs, until each holder of Class A Units, Class B1 Units and Class B Units receives a total of $0.4125 per Unit for that Quarter, or the Third Target Distribution (150% of the Minimum Quarterly Distribution); and 

(iv) thereafter, 50.0% to all holders of Class A Units, Class B1 Units and Class B Units, pro rata, and 50.0% to
the holders of the IDRs. 
 (d) Distribution Forbearance. Notwithstanding the foregoing, during the Distribution
Forbearance Period distributions to the Class B Members shall be limited as follows: 
 (i) the Class B Members will not,
under any circumstances, be entitled to receive any distributions with respect to the third and fourth Quarter of 2015 (i.e., distributions declared on or prior to March 31, 2016); and 

(ii) thereafter, until the end of the Distribution Forbearance Period, the Class B Units will not be entitled to receive any
distributions to the extent the holder of Class A Units have not received distributions in an amount equal to the Minimum Quarterly Distribution plus any arrearages in the payment of Minimum Quarterly Distributions from prior Quarters. 

Any distributions forgone by the Class B Members pursuant to this Section 4.1(d) will not be distributed to the other Members and
will not constitute an arrearage on the Class B Units. After the date on which the Distribution Forbearance Period ends, distributions will be made to the Class B Members in accordance with Section 4.1(a) and Section 4.1(b),
above. 
 (e) Limitation on IDR Distributions. Notwithstanding the foregoing provisions of Section 4.1, no
distributions in respect of IDRs shall be made unless the CAFD since the closing of the IPO to the date of determination exceeds the amount of cash distributed as of the date of the determination. 

  
 27 

 Section 4.2 Successors. For purposes of determining the amount of distributions under
Section 4.1, each Member shall be treated as having made the Capital Contributions and as having received the distributions made to or received by its predecessors in respect of any of such Member’s Units. 

Section 4.3 Withholding. Notwithstanding any other provision of this Agreement, the Managing Member is authorized to take any
action that may be required to cause the Company to comply with any withholding requirements established under the Code or any other federal, state or local law including pursuant to Sections 1441, 1442, 1445 and 1446 of the Code. To the extent that
the Company is required or elects to withhold and pay over to any taxing authority any amount resulting from the allocation or distribution of income to any Member (including by reason of Section 1446 of the Code), the Managing Member may treat
the amount withheld as a distribution of cash pursuant to this Article IV in the amount of such withholding from such Member. Each Member hereby agrees, to the maximum extent permitted by law, to indemnify and hold harmless the Company and the other
Members from and against any liability, claim or expense (including, without limitation, any liability for taxes, penalties, additions to tax or interest) with respect to any tax withholdings made or required to be made on behalf of or with respect
to such Member. In the event the Company is liquidated and a liability or claim is asserted against, or expense borne by, the Company or any Member for tax withholdings made or required to be made, such person shall have the right to be reimbursed
from the Member on whose behalf such tax withholding was made or required to be made 
 Section 4.4 Limitation. Notwithstanding
any other provision of this Agreement, the Company, and the Managing Member on behalf of the Company, shall not be required to make a distribution (a) if such distribution to any Member or Assignee would violate the Act or other applicable law,
or (b) in any form other than cash. 
 Section 4.5 Adjustments. The Target Distributions, arrearages with respect to
Class A Units and Class B1 Units shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Membership Interests. The
Target Distributions shall also be subject to adjustment pursuant to Section 3.8 and Section 4.6 
 Section 4.6 Tax
Adjustments. If legislation is enacted or the official interpretation of existing legislation is modified by a governmental authority, which after giving effect to such enactment or modification, results in a Company Group Member becoming
subject to federal, state or local or non-U.S. income or withholding taxes in excess of the amount of such taxes due from the Company Group Member prior to such enactment or modification (including, for the avoidance of doubt, any increase in the
rate of such taxation applicable to the Company Group Member), then the holders of a majority in interest of the IDRs may request the Independent Conflicts Committee to consider the appropriateness of adjusting the Target Distribution, and upon the
approval of the Independent Conflicts Committee, the Managing Member may reduce the Target Distributions by the amount of income or withholding taxes that are payable by reason of any such new legislation or interpretation (the “Incremental
Income Taxes”), or any portion thereof selected by the Managing Member, in the manner provided in this Section 4.6. If the Managing Member elects to reduce the Target Distributions for any Quarter with respect to all or a portion of any
Incremental Income Taxes for such Quarter, the Managing Member shall estimate for such Quarter the Company Group’s aggregate liability (the “Estimated Incremental Quarterly Tax Amount”) for all (or the relevant portion of) such
Incremental Income Taxes. For each Quarter in which the Managing Member elects, pursuant to this Section 4.6, to reduce the Target Distributions, the adjusted Target Distribution Amount shall be the amount obtained by multiplying (a) the
Target Distribution amount determined prior to the application of this Section 4.6 times (b) the quotient obtained by dividing (i) CAFD with respect to such Quarter by (ii) the sum of CAFD plus the Estimated
Incremental Quarterly Tax Amount for such Quarter (as determined by the Managing Member). To the extent the Estimated Incremental Quarterly Tax Amount 

  
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for a given Quarter differs from the actual liability for Incremental Income Taxes (or the relevant portion thereof) for such Quarter, the Managing Member may, to the extent determined by the
Managing Member, take such differences into account in distributions with respect to subsequent Quarters. 
 Section 4.7 Interest
Payment Agreement. Notwithstanding any other provision of this Agreement, none of SunEdison or its Affiliates shall have any rights, at any time, through distributions under this Agreement or otherwise, to reimbursement of any payments made by
SunEdison or its Affiliates under the terms of the Interest Payment Agreement. 
 ARTICLE V 

ALLOCATIONS 

Section 5.1 Allocations for Capital Account Purposes. 

(a) Except as otherwise provided in this Agreement, Net Income and Net Losses (and, to the extent necessary, individual items
of income, gain or loss or deduction of the Company) shall be allocated in a manner such that the Capital Account of each Member after giving effect to the special allocations set forth in Section 5.1(b) is, as nearly as possible, equal
(proportionately) to (i) the distributions that would be made pursuant to Section 7.2 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Company liabilities were
satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Company were distributed to the Members pursuant to this Agreement, minus (ii) such
Member’s share of Company Minimum Gain and Member Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. 

(b) Special Allocations. Notwithstanding any other provision of this Section 5.1, the following special
allocations shall be made for such taxable period: 
 (i) Company Minimum Gain Chargeback. Notwithstanding any other
provision of this Section 5.1, if there is a net decrease in Company Minimum Gain during any Company taxable period, each Member shall be allocated items of Company income and gain for such period (and, if necessary, subsequent periods)
in the manner and amounts determined according to Treasury Regulations Sections 1.704-2(f) and 1.704-2(j)(2)(i), or any successor provision. For purposes of this Section 5.1(b), each Member’s Adjusted Capital Account balance shall
be determined, and the allocation of income and gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this 
Section 5.1(b) with respect to such taxable period (other than an
allocation pursuant to Section 5.1(b)(iii) and
 Section 5.1(b)(vi)). This Section 5.1(b)(i) is intended to comply with the Company Minimum Gain chargeback requirement in Treasury Regulations
Section 1.704-2(f) and shall be interpreted consistently therewith. 
 (ii) Chargeback of Member Nonrecourse Debt
Minimum Gain. Notwithstanding the other provisions of this

 Section 5.1 (other than Section 5.1(b)(i)), except as provided in Treasury Regulations Section 1.704-2(i)(4), if there is a net decrease in Member
Nonrecourse Debt Minimum Gain during any Company taxable period, any Member with a share of Member Nonrecourse Debt Minimum Gain at the beginning of such taxable period shall be allocated items of Company income and gain for such period (and, if
necessary, subsequent periods) in the manner and amounts determined according to Treasury Regulations Sections 1.704-2(i)(4), or any successor provisions. For purposes of this Section 5.1(b), each Member’s Adjusted Capital Account
balance shall be determined, 

  
 29 

 
and the allocation of income and gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this Section 5.1(b), other than
Section 5.1(b)(i) and other than an allocation pursuant to Section 5.1(b)(i)(v) and (b)(i)(vi), with respect to such taxable period. This Section 5.1(b)(ii) is intended to comply with the chargeback of
items of income and gain requirement in Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith. 

(iii) Qualified Income Offset. In the event any Member unexpectedly receives any adjustments, allocations or
distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5), or (6), items of Company income and gain shall be specially allocated to such Member in an amount and manner sufficient to eliminate, to the extent required by
the Treasury Regulations promulgated under Section 704(b) of the Code, the deficit balance, if any, in its Adjusted Capital Account created by such adjustments, allocations or distributions as quickly as possible, unless such deficit balance is
otherwise eliminated pursuant to Section 5.1(b)(i) or Section 5.1(b)(ii). This Section 5.1(b)(iii) is intended to qualify and be construed as a “qualified income offset” within the meaning of Treasury
Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 
 (iv) Gross Income
Allocations. In the event any Member has a deficit balance in its Capital Account at the end of any Company taxable period in excess of the sum of (A) the amount such Member is required to restore pursuant to the provisions of this
Agreement and (B) the amount such Member is deemed obligated to restore pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), such Member shall be specially allocated items of Company gross income and gain in the amount of
such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(b)(iv) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account as adjusted after
all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(b)(iv) were not in this Agreement. 

(v) Nonrecourse Deductions. Nonrecourse Deductions for any taxable period shall be allocated to the Members in
accordance with their respective Percentage Interests. If the Managing Member determines that the Company’s Nonrecourse Deductions should be allocated in a different ratio to satisfy the safe harbor requirements of the Treasury Regulations
promulgated under Section 704(b) of the Code, the Managing Member is authorized, upon notice to the other Members, to revise the prescribed ratio to the numerically closest ratio that does satisfy such requirements. 

(vi) Member Nonrecourse Deductions. Member Nonrecourse Deductions for any taxable period shall be allocated 100% to the
Member that bears the “Economic Risk of Loss” (as defined in the Treasury Regulations) with respect to the Member Nonrecourse Debt to which such Member Nonrecourse Deductions are attributable in accordance with Treasury Regulations
Section 1.704-2(i). If more than one Member bears the Economic Risk of Loss with respect to a Member Nonrecourse Debt, such Member Nonrecourse Deductions attributable thereto shall be allocated between or among such Members in accordance with
the ratios in which they share such Economic Risk of Loss. 
 (vii) Nonrecourse Liabilities. Nonrecourse Liabilities
of the Company described in Treasury Regulations Section 1.752-3(a)(3) shall be allocated to the Members in accordance with their respective Percentage Interests. 

  
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 (viii) Code Section 754 Adjustments. To the extent an adjustment to
the adjusted tax basis of any Company asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount
of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the
Members in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations. 

(ix) Curative Allocation. 

(A) The allocations set forth in Section 5.1(b)(i), Section 5.1(b)(ii),
Section 5.1(b)(iii) and Section 5.1(b)(viii) (the “Required Allocations”) are intended to comply with certain requirements of the Treasury Regulations. It is the intent of the Members that, to the extent
possible, all Required Allocations shall be offset either with other Required Allocations or with special allocations of other items of Company income, gain, loss or deduction pursuant to this Section 5.1(b)(ix)(A). Therefore,
notwithstanding any other provision of this Article V (other than the Required Allocations), the Managing Member shall make such offsetting special allocations of Company income, gain, loss or deduction in whatever manner it determines
appropriate so that, after such offsetting allocations are made, each Member’s Capital Account balance is, to the extent possible, equal to the Capital Account balance such Member would have had if the Required Allocations were not part of this
Agreement and all Company items were allocated pursuant to the economic agreement among the Members. 
 (B) The Managing
Member shall, with respect to each taxable period, (1) apply the provisions of
 Section 5.1(b)(ix)(A) in whatever order is most likely to minimize the economic distortions that might otherwise result from the Required
Allocations, and (2) divide all allocations pursuant to Section 5.1(b)(ix)(A) among the Members in a manner that is likely to minimize such economic distortions. 

(x) Deficit Capital Accounts. No Member shall be required to pay to the Company, to any other Member or to any third
party any deficit balance which may exist from time to time in the Member’s Capital Account. 
 Section 5.2 Allocations for Tax
Purposes. 
 (a) The income, gains, losses and deductions of the Company shall be allocated for federal, state and local
income tax purposes among the Members in accordance with the allocation of such income, gains, losses and deductions among the Members for purposes of computing their Capital Accounts; except that if any such allocation is not permitted by the Code
or other applicable law, then the Company’s subsequent income, gains, losses and deductions for tax purposes shall be allocated among the Members so as to reflect as nearly as possible the allocation set forth herein in computing their Capital
Accounts. 
 (b) In an attempt to eliminate Book-Tax Disparities attributable to a Contributed Property or an Adjusted
Property, items of income, gain, loss, depreciation, amortization and cost recovery deductions shall be allocated for federal income tax purposes among the Members as follows: 

(i) In the case of a Contributed Property, such items attributable thereto shall be allocated among the Members in the manner
provided under Section 704(c) of the Code that takes into account the variation between the Agreed Value of such property and its adjusted basis at the time of contribution. 

  
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 (ii) In the case of an Adjusted Property, such items shall (A) first, be
allocated among the Members in a manner consistent with the principles of Section 704(c) of the Code to take into account the Unrealized Gain or Unrealized Loss attributable to such property and the allocations thereof pursuant to
Section 3.3(c)(i) or Section 3.3(c)(ii), and (B) second, in the event such property was originally a Contributed Property, be allocated among the Members in a manner consistent with Section 5.2(b)(i)(A). 

(iii) In order to eliminate Book-Tax Disparities, the Managing Member shall cause the Company to use the “remedial
method” as defined in Treasury Regulations Section 1.704 3(d), unless the Independent Conflicts Committee consents to the use of another method described in Treasury Regulations Section 1.704-3. 

(c) For purposes of determining the items of Company income, gain, loss, deduction, or credit allocable to any Member with
respect to any period, such items shall be determined on a daily, monthly, or other basis, as determined by the Managing Member using any permissible method under Code Section 706 and the Treasury Regulations promulgated thereunder. 

(d) Tax credits, tax credit recapture and any items related thereto shall be allocated to the Members according to their
interests in such items as reasonably determined by the Managing Member taking into account the principles of Treasury Regulations Sections 1.704-1(b)(4)(ii) and 1.704-1T(b)(4)(xi). 

(e) Allocations pursuant to this Section 5.2 are solely for the purposes of federal, state and local taxes and
shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Income, Loss, distributions or other Company items pursuant to any provision of this Agreement. 

(f) For the proper administration of the Company, the Managing Member shall (i) adopt such conventions as it deems
appropriate in determining the amount of depreciation, amortization and cost recovery deductions; (ii) make special allocations for federal income tax purposes of income (including, without limitation, gross income) or deductions;
(iii) without the consent of any other Person being required, amend the provisions of this Agreement as appropriate to reflect the proposal or promulgation of Treasury Regulations under Section 704(b) or Section 704(c) of the Code;
and (iv) adopt and employ such methods for (A) the maintenance of capital accounts for book and tax purposes, (B) the determination and allocation of adjustments under Sections 734 and 743 of the Code, (C) the determination and
allocation of taxable income, tax loss and items thereof under this Agreement and pursuant to the Code, (D) the determination of the identities and tax classification of Members, (E) the provision of tax information and reports to the
Members, (F) the adoption of reasonable conventions and methods for the valuation of assets and the determination of tax basis, (G) the allocation of asset values and tax basis, (H) the adoption and maintenance of accounting methods,
(I) the recognition of the Transfer of Units and (J) tax compliance and other tax-related requirements, including without limitation, the use of computer software, in each case, as it determines in its sole discretion are necessary and
appropriate to execute the provisions of this Agreement and to comply with federal, state and local tax law. The Managing Member may adopt such conventions and make such allocations as provided in this Section 5.2(f) without the consent of a
Member only if such conventions or allocations would not have a material adverse effect on such affected Member, and if such allocations are consistent with the principles of Section 704 of the Code. 

  
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 Section 5.3 Members’ Tax Reporting. The Members acknowledge and are aware of the
income tax consequences of the allocations made pursuant to this Article V and, except as may otherwise be required by applicable law or regulatory requirements, hereby agree to be bound by the provisions of this Article V in reporting their shares
of Company income, gain, loss, deduction and credit for federal, state and local income tax purposes. 
 Section 5.4 Certain Costs
and Expenses. The Company shall (i) pay, or cause to be paid, all costs, fees, operating expenses and other expenses of the Company (including the costs, fees and expenses of attorneys, accountants or other professionals and the
compensation of all personnel providing services to the Company) incurred in pursuing and conducting, or otherwise related to, the activities of the Company, and (ii) reimburse the Managing Member for any costs, fees or expenses incurred by it
in connection with serving as the Managing Member. To the extent that the Managing Member determines in its sole discretion that such expenses are related to the business and affairs of the Managing Member that are conducted through the Company
and/or its subsidiaries (including expenses that relate to the business and affairs of the Company and/or its subsidiaries and that also relate to other activities of the Managing Member), the Managing Member may cause the Company to pay or bear all
expenses of the Managing Member, including, without suggesting any limitation of any kind, costs of securities offerings not borne directly by Members, board of directors compensation and meeting costs, cost of periodic reports to its stockholders,
litigation costs and damages arising from litigation, accounting and legal costs and franchise taxes, provided that the Company shall not pay or bear any income tax obligations of the Managing Member. 

ARTICLE VI 
 MANAGEMENT

 Section 6.1 Managing Member; Delegation of Authority and Duties. 

(a) Authority of Managing Member. The business, property and affairs of the Company shall be managed under the sole,
absolute and exclusive direction of the Managing Member, which may from time to time delegate authority to Officers or to others to act on behalf of the Company. Without limiting the foregoing provisions of this Section 6.1(a), the
Managing Member shall have the sole power to manage or cause the management of the Company, including the power and authority to effectuate the sale, lease, transfer, exchange or other disposition of any, all or substantially all of the assets of
the Company (including, but not limited to, the exercise or grant of any conversion, option, privilege or subscription right or any other right available in connection with any assets at any time held by the Company) or the merger, consolidation,
reorganization or other combination of the Company with or into another entity. 
 (b) Other Members. No Member who is
not also a Managing Member, in his or her or its capacity as such, shall participate in or have any control over the business of the Company. Except as expressly provided herein, the Units, other Equity Securities in the Company, or the fact of a
Member’s admission as a member of the Company do not confer any rights upon the Members to participate in the management of the affairs of the Company. Except as expressly provided herein, no Member who is not also a Managing Member shall have
any right to vote on any matter involving the Company, including with respect to any merger, consolidation, combination or conversion of the Company, or any other matter that a Member might otherwise have the ability to vote or consent with respect
to under the Act, at law, in equity or otherwise. The conduct, control and management of the Company shall be vested exclusively in the Managing Member. In all 

  
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matters relating to or arising out of the conduct of the operation of the Company, the decision of the Managing Member shall be the decision of the Company. Except as required by law or expressly
provided in Section 6.1(c) or by separate agreement with the Company, no Member who is not also a Managing Member (and acting in such capacity) shall take any part in the management or control of the operation or business of the Company
in its capacity as a Member, nor shall any Member who is not also a Managing Member (and acting in such capacity) have any right, authority or power to act for or on behalf of or bind the Company in his or her or its capacity as a Member in any
respect or assume any obligation or responsibility of the Company or of any other Member. 
 (c) Delegation by Managing
Member. The Company may employ one or more Members from time to time, and such Members, in their capacity as employees or agents of the Company (and not, for clarity, in their capacity as Members of the Company), may take part in the control and
management of the business of the Company to the extent such authority and power to act for or on behalf of the Company has been delegated to them by the Managing Member. To the fullest extent permitted by law, the Managing Member shall have the
power and authority to delegate to one or more other Persons the Managing Member’s rights and powers to manage and control the business and affairs of the Company, including to delegate to agents and employees of a Member or the Company
(including Officers), and to delegate by a management agreement or another agreement with, or otherwise to, other Persons. The Managing Member may authorize any Person (including any Member or Officer) to enter into and perform any document on
behalf of the Company. 
 Section 6.2 Officers. 

(a) Designation and Appointment. The Managing Member may, from time to time, employ and retain Persons as may be
necessary or appropriate for the conduct of the Company’s business, including employees, agents and other Persons (any of whom may be a Member) who may be designated as Officers of the Company, with such titles as and to the extent authorized
by the Managing Member. Any number of offices may be held by the same Person. In its discretion, the Managing Member may choose not to fill any office for any period as it may deem advisable. Officers need not be residents of the State of Delaware
or Members. Any Officers so designated shall have such authority and perform such duties as the Managing Member may from time to time delegate to them. The Managing Member may assign titles to particular Officers. Each Officer shall hold office
until his successor shall be duly designated and shall qualify or until his death or until he shall resign or shall have been removed in the manner hereinafter provided. The salaries or other compensation, if any, of the Officers of the Company
shall be fixed from time to time by the Managing Member. Designation of an Officer shall not of itself create any employment or, except as provided in Section 6.4, contractual rights. 

(b) Resignation and Removal. Any Officer may resign as such at any time. Such resignation shall be made in writing and
shall take effect at the time specified therein, or if no time is specified, at the time of its receipt by the Managing Member. The acceptance of a resignation shall not be necessary to make it effective, unless expressly so provided in the
resignation. All employees, agents and Officers shall be subject to the supervision and direction of the Managing Member and may be removed, with or without cause, from such office by the Managing Member and the authority, duties or responsibilities
of any employee, agent or Officer of the Company may be suspended by or altered the Managing Member from time to time, in each case in the sole discretion of the Managing Member. 

(c) Officers as Agents. The Officers, to the extent of their powers, authority and duties set forth in this Agreement or
an Employment Agreement or otherwise vested in them by the Managing Member, are agents of the Company for the purposes of the Company’s business and the actions of the Officers taken in accordance with such powers shall bind the Company. 

  
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 Section 6.3 Liability of Members. 

(a) No Personal Liability. Except as otherwise required by applicable law and as expressly set forth in this Agreement,
no Member shall have any personal liability whatsoever in such Person’s capacity as a Member, whether to the Company, to any of the other Members, to the creditors of the Company or to any other third party, for the debts, liabilities,
commitments or any other obligations of the Company or for any losses of the Company. Except as otherwise required by the Act, each Member shall be liable only to make such Member’s Capital Contribution to the Company, if applicable, and the
other payments provided for expressly herein. 
 (b) Return of Distributions. In accordance with the Act and the laws
of the State of Delaware, a Member may, under certain circumstances, be required to return amounts previously distributed to such Member. It is the intent of the Members that no distribution to any Member pursuant to Article IV shall be
deemed a return of money or other property paid or distributed in violation of the Act. The payment of any such money or distribution of any such property to a Member shall be deemed to be a compromise within the meaning of Section 18-502(b) of
the Act, and, to the fullest extent permitted by law, any Member receiving any such money or property shall not be required to return any such money or property to the Company or any other Person. However, if any court of competent jurisdiction
holds that, notwithstanding the provisions of this Agreement, any Member is obligated to make any such payment, such obligation shall be the obligation of such Member and not of any other Member. 

(c) No Duties. Notwithstanding any other provision of this Agreement or any duty otherwise existing at law, in equity or
otherwise, the parties hereby agree that the Members (including without limitation, the Managing Member), shall, to the maximum extent permitted by law, including Section 18-1101(c) of the Act, owe no duties (including fiduciary duties) to the
Company, the other Members or any other Person who is a party to or otherwise bound by this Agreement; provided, however, that nothing contained in this Section 6.3(c) shall eliminate the implied contractual covenant of
good faith and fair dealing. To the extent that, at law or in equity, any Member (including without limitation, the Managing Member) has duties (including fiduciary duties) and liabilities relating thereto to the Company, to another Member or to
another Person who is a party to or otherwise bound by this Agreement, the Members (including without limitation, the Managing Member) acting under this Agreement will not be liable to the Company, to any such other Member or to any such other
Person who is a party to or otherwise bound by this Agreement, for their good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict or eliminate the duties and liabilities relating
thereto of any Member (including without limitation, the Managing Member) otherwise existing at law, in equity or otherwise, are agreed by the parties hereto to replace to that extent such other duties and liabilities of the Members (including
without limitation, the Managing Member) relating thereto. The Managing Member may consult with legal counsel, accountants and financial or other advisors and any act or omission suffered or taken by the Managing Member on behalf of the Company or
in furtherance of the interests of the Company in good faith in reliance upon and in accordance with the advice of such counsel, accountants or financial or other advisors will be full justification for any such act or omission, and the Managing
Member will be fully protected in so acting or omitting to act so long as such counsel or accountants or financial or other advisors were selected with reasonable care. Notwithstanding any other provision of this Agreement or otherwise applicable
provision of law or equity, whenever in this Agreement the Managing Member is permitted or required to make a decision (i) in its “sole discretion” or “discretion” or under a grant of similar

  
 35 

 
authority or latitude, the Managing Member shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by
applicable law, have no duty or obligation to give any consideration to any interest of or factors affecting the Company or the other Members, or (ii) in its “good faith” or under another expressed standard, the Managing Member shall
act under such express standard and shall not be subject to any other or different standards. 
 Section 6.4 Indemnification by the
Company. 
 (a) To the fullest extent permitted by applicable law (as the same exists or may hereafter be amended (but,
in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to provide prior to such amendment)) but subject to the limitations expressly
provided in this Agreement, all Indemnitees shall be indemnified and held harmless by the Company from and against any and all losses, claims, damages, liabilities, joint or several, expenses (including legal fees and expenses), judgments, fines,
penalties (including excise and similar taxes and punitive damages), interest, settlements or other amounts arising from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which
any Indemnitee may be involved, or is threatened to be involved, as a party or otherwise, by reason of its acting in the capacity that gave rise to its status as an Indemnitee (a “Proceeding”); provided, that the Indemnitee
shall not be indemnified and held harmless if there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter for which the Indemnitee is seeking indemnification pursuant to
this Section 6.4, the Indemnitee acted in bad faith or engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the Indemnitee’s conduct was unlawful. Any indemnification pursuant to this
Section 6.4 shall be made only out of the assets of the Company, it being agreed that the Managing Member shall not be personally liable for such indemnification and shall have no obligation to contribute or loan any monies or property
to the Company to enable it to effectuate such indemnification. 
 (b) To the fullest extent permitted by law, expenses
(including legal fees and expenses) incurred by an Indemnitee who is indemnified pursuant to Section 6.4(a) in defending any Proceeding shall, from time to time, be advanced by the Company prior to a determination that the Indemnitee is
not entitled to be indemnified upon receipt by the Company of any undertaking by or on behalf of the Indemnitee to repay such amount if it shall be determined that the Indemnitee is not entitled to be indemnified as authorized in this
Section 6.4. 
 (c) The rights provided by this Section 6.4 shall be deemed contract rights and shall
be in addition to any other rights to which an Indemnitee may be entitled under any agreement, pursuant to any vote of the holders of the Membership Interests, as a matter of law or otherwise, both as to actions in the Indemnitee’s capacity as
an Indemnitee and as to actions in any other capacity and shall continue as to an Indemnitee who has ceased to serve in such capacity and shall inure to the benefit of the heirs, successors, assigns and administrators of the Indemnitee. 

(d) The Company may purchase and maintain insurance on behalf of the Company and its Subsidiaries and such other Persons as the
Managing Member shall determine, against any liability that may be asserted against, or expense that may be incurred by, such Person in connection with the Company’s activities or such Person’s activities on behalf of the Company,
regardless of whether the Company would have the power to indemnify such Person against such liability under the provisions of this Agreement. 

  
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 (e) For purposes of this Section 6.4, the Company shall be deemed to
have requested an Indemnitee to serve as fiduciary of an employee benefit plan whenever the performance by it of its duties to the Company also imposes duties on, or otherwise involves services by, it to the plan or participants or beneficiaries of
the plan; excise taxes assessed on an Indemnitee with respect to an employee benefit plan pursuant to applicable law shall constitute “fines” within the meaning of Section 6.4(a); and action taken or omitted by it with respect
to any employee benefit plan in the performance of its duties for a purpose reasonably believed by it to be in the best interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose that is in the best interests of
the Company. 
 (f) In no event may an Indemnitee subject the Members to personal liability by reason of the indemnification
provisions set forth in this Agreement. 
 (g) An Indemnitee shall not be denied indemnification in whole or in part under
this Section 6.4 because the Indemnitee had an interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the terms of this Agreement. 

(h) The provisions of this Section 6.4 are for the benefit of the Indemnitees, their heirs, successors, assigns and
administrators and shall not be deemed to create any rights for the benefit of any other Persons. 
 (i) No amendment,
modification or repeal of this Section 6.4 or any provision hereof shall in any manner terminate, reduce or impair the right of any past, present or future Indemnitee to be indemnified by the Company, nor the obligations of the Company
to indemnify any such Indemnitee under and in accordance with the provisions of this Section 6.4 as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters
occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted. It is expressly acknowledged that the indemnification provided in this Section 6.4 could involve
indemnification for negligence or under theories of strict liability. Notwithstanding the foregoing, no Indemnitee shall be entitled to any indemnity or advancement of expenses in connection with any Proceeding brought (i) by such Indemnified
Person against the Company (other than to enforce the rights of such Indemnitee pursuant to this Section 6.4), any Member or any Officer, or (ii) by or in the right of the Company, without the prior written consent of the Managing
Member. 
 Section 6.5 Liability of Indemnitees. 

(a) Notwithstanding anything to the contrary set forth in this Agreement, no Indemnitee shall be liable for monetary damages to
the Company, the Members or any other Persons who have acquired interests in the Company, for losses sustained or liabilities incurred as a result of any act or omission of an Indemnitee unless there has been a final and nonappealable judgment
entered by a court of competent jurisdiction determining that, in respect of the matter in question, the Indemnitee acted in bad faith or engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the
Indemnitee’s conduct was criminal. 
 (b) The Managing Member may exercise any of the powers granted to it by this
Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agents, and the Managing Member shall not be responsible for any misconduct or negligence on the part of any such agent appointed by the Managing
Member in good faith. 

  
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 (c) To the extent that, at law or in equity, an Indemnitee has duties (including
fiduciary duties) and liabilities relating thereto to the Company or to the Members, the Managing Member and any other Indemnitee acting in connection with the Company’s business or affairs shall not be liable to the Company or to any Member
for its good faith reliance on the provisions of this Agreement. 
 (d) Any amendment, modification or repeal of this
Section 6.5 or any provision hereof shall be prospective only and shall not in any way affect the limitations on the liability of the Indemnitees under this Section 6.5 as in effect immediately prior to such amendment,
modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted. 

Section 6.6 Investment Representations of Members. Each Member hereby represents, warrants and acknowledges to the Company that:
(a) such Member has such knowledge and experience in financial and business matters that such Member is capable of evaluating the merits and risks of an investment in the Company and is making an informed investment decision with respect
thereto; (b) such Member is acquiring interests in the Company for investment only and not with a view to, or for resale in connection with, any distribution to the public or public offering thereof; and (c) the execution, delivery and
performance of this Agreement have been duly authorized by such Member. 
 ARTICLE VII 

WITHDRAWAL; DISSOLUTION; TRANSFER OF MEMBERSHIP INTERESTS; 

ADMISSION OF NEW MEMBERS 

Section 7.1 Member Withdrawal. No Member shall have the power or right to withdraw or otherwise resign or be expelled from the
Company prior to the dissolution and winding up of the Company except pursuant to a Transfer permitted under this Agreement. 

Section 7.2 Dissolution. 

(a) Events. The Company shall be dissolved and its affairs shall be wound up on the first to occur of (i) the
determination of the Managing Member, (ii) the entry of a decree of judicial dissolution of the Company under Section 18-802 of the Act or (iii) the termination of the legal existence of the last remaining Member or the occurrence of
any other event which terminates the continued membership of the last remaining Member in the Company unless the Company is continued without dissolution in a manner permitted by the Act. In the event of a dissolution pursuant to clause (i) of
the immediately preceding sentence, the relative economic rights of each Class of Units immediately prior to such dissolution shall be preserved to the greatest extent practicable with respect to distributions made to Members pursuant to
Section 7.2(c) below in connection with the winding up of the Company, taking into consideration tax and other legal constraints that may adversely affect one or more parties hereto and subject to compliance with applicable laws and
regulations, unless, with respect to any Class of Units, holders of not less than 90% of the Units of such Class consent in writing to a treatment other than as described above. 

(b) Actions Upon Dissolution. When the Company is dissolved, the business and property of the Company shall be wound up
and liquidated by the Managing Member or, in the event of the unavailability of the Managing Member or if the Managing Member shall so determine, such Member or other liquidating trustee as shall be named by the Managing Member. 

  
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 (c) Priority. A reasonable time shall be allowed for the orderly winding
up of the business and affairs of the Company and the liquidation of its assets pursuant to Section 7.2 to minimize any losses otherwise attendant upon such winding up. Upon dissolution of the Company, the assets of the Company shall be
applied in the following manner and order of priority: (i) to creditors, including Members who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the Company (including all contingent, conditional or
unmatured claims), whether by payment or the making of reasonable provision for payment thereof; and (ii) the balance shall be distributed to the holders of Class A Units, Class B Units and Class B1 Units pro rata. 

(d) Cancellation of Certificate. The Company shall terminate when (i) all of the assets of the Company, after
payment of or due provision for all debts liabilities and obligations of the Company, shall have been distributed to the Members in the manner provided for in this Agreement and (ii) the Certificate shall have been canceled in the manner
required by the Act. 
 (e) Return of Capital. The liquidators of the Company shall not be personally liable for the
return of Capital Contributions or any portion thereof to the Members (it being understood that any such return shall be made solely from Company assets). 

(f) Hart Scott Rodino. Notwithstanding any other provision in this Agreement, in the event the Hart Scott Rodino
Antitrust Improvements Act of 1976, as amended (the “HSR Act”), is applicable to any Member by reason of the fact that any assets of the Company will be distributed to such Member in connection with the dissolution of the Company,
the distribution of any assets of the Company shall not be consummated until such time as the applicable waiting periods (and extensions thereof) under the HSR Act have expired or otherwise been terminated with respect to each such Member. 

Section 7.3 Transfer by Members. No Member may Transfer all or any portion of its Units or other interests or rights in the
Company except as provided in Section 3.2(a) and Section 3.9; provided, however, that, Subject to the provisions of Section 3.9, the restrictions in this Agreement shall not prohibit or restrict
SunEdison (or its Controlled Affiliates) from (i) pledging any of Class B Units or B1 Units, shares of Class B Common Stock or B1 Common Stock, IDRs or other Company securities held by any of them to lenders as security under its Credit
Facilities, or (ii) transferring any or all of the pledged Class B Units or Class B1 Units, shares of Class B Common Stock or Class B1 Common Stock or other Company securities described in clause (ii) of this paragraph in the event of
foreclosure on such pledged securities. In connection with any Transfer, the Transferor shall Transfer an equivalent number of shares of Class B Common Stock (in the case of a Transfer of Class B Units) or Class B1 Common Stock (in the case of a
Transfer of Class B1 Units) to the Transferee, in accordance with the terms of the Global, Inc. Charter. Any purported Transfer of all or a portion of a Member’s Units or other interests in the Company not complying with this Section 7.3
and Section 7.4 shall be void and shall not create any obligation on the part of the Company or the other Members to recognize that Transfer or to deal with the Person to which the Transfer purportedly was made. Notwithstanding anything to the
contrary herein, the Class A Units shall not be Transferable, except to a Transferring Class A Member’s Successor in Interest. 

Section 7.4 Admission or Substitution of New Members. 

(a) Admission. Without the consent of any other Person, the Managing Member shall have the right to admit as a
Substituted Member or an Additional Member, any Person who acquires an interest in the Company, or any part thereof, from a Member or from the Company. Concurrently with the admission of a Substituted Member or an Additional Member, the Managing
Member shall forthwith (i) amend the Schedule of Members to reflect the name and address of such 

  
 39 

 
Substituted Member or Additional Member and to eliminate or modify, as applicable, the name and address of the Transferring Member with regard to the Transferred Units and (ii) cause any
necessary papers to be filed and recorded and notice to be given wherever and to the extent required showing the substitution of a Transferee as a Substituted Member in place of the Transferring Member, or the admission of an Additional Member, in
each case, at the expense, including payment of any professional and filing fees incurred, of such Substituted Member or Additional Member. 

(b) Conditions and Limitations. The admission of any Person as a Substituted Member or an Additional Member shall be
conditioned upon such Person’s written acceptance and adoption of all the terms and provisions of this Agreement by execution and delivery of the Adoption Agreement in the form attached hereto as Exhibit A or such other written
instrument(s) in form and substance satisfactory to the Managing Member on behalf of the Company. 
 (c) Prohibited
Transfers. Notwithstanding any contrary provision in this Agreement, unless each of the Members agrees otherwise in writing, in no event may any Transfer of a Unit or other interest in the Company be made by any Member or Assignee if: 

(i) such Transfer is made to any Person who lacks the legal right, power or capacity to own such Unit or other interest in the
Company; 
 (ii) except as otherwise provided pursuant to an Exchange Agreement, such Transfer (which solely for purposes of
this Section 7.4(c) shall include the issuance of Units upon the exercise of an option or warrant to acquire such Unit) would not be within (or would cause the Company to fail to qualify for) one or more of the safe harbors described in
paragraphs (e), (f), (g), (h) or (j) of Treasury Regulations Section 1.7704-1 or otherwise would pose a material risk that the Company could be treated as a “publicly traded partnership” within the meaning of
Section 7704 of the Code and the regulations promulgated thereunder; 
 (iii) such Transfer would require the
registration of such Transferred Unit or other interest in the Company or of any Class of Unit or other interest in the Company pursuant to any applicable United States federal or state securities laws (including, without limitation, the Securities
Act or the Exchange Act) or other non-U.S. securities laws (including Canadian provincial or territorial securities laws) or would constitute a non-exempt distribution pursuant to applicable provincial or state securities laws; 

(iv) such Transfer would cause any portion of the assets of the Company to become “plan assets” of any “benefit
plan investor” within the meaning of regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the Code of Federal Regulations as modified by Section 3(42) of the Employee
Retirement Income Security Act of 1974, as amended from time to time; or 
 (v) to the extent requested by the Managing
Member, the Company does not receive such legal and/or tax opinions and written instruments (including, without limitation, copies of any instruments of Transfer and such Assignee’s consent to be bound by this Agreement as an Assignee) that are
in a form satisfactory to the Managing Member, as determined in the Managing Member’s sole discretion. 
 In addition, notwithstanding
any contrary provision in this Agreement, to the extent the Managing Member shall determine that interests in the Company do not meet or will not meet the 

  
 40 

 
requirements of Treasury Regulation section 1.7704-1(h) or could cause the Company to be treated as a publicly traded partnership within the meaning of Section 7704 of the Code, the Managing
Member may impose such restrictions on the Transfer of Units or other interests in the Company as the Managing Member may determine to be necessary or advisable so that the Company is not treated as a publicly traded partnership taxable as a
corporation under Section 7704 of the Code. 
 Any purported Transfer in violation of Section 7.3 or this
Section 7.4(c) shall be null and void ab initio and shall not be effective to transfer record, beneficial, legal or any other ownership of such Unit or other interest in the Company, the purported transferee shall not be entitled
to any rights as a Member with respect to the Unit or other interest in the Company purported to be purchased, acquired or transferred in the Transfer (including, without limitation, the right to vote or to receive dividends with respect thereto),
and all rights as a holder of the Unit or other interest in the Company purported to have been transferred shall remain in the purported transferor. 

(d) Effect of Transfer to Substituted Member. Following the Transfer of any Unit or other interest in the Company that
is permitted under Sections 7.3 and 7.4, the Transferee of such Unit or other interest in the Company shall be treated as having made all of the Capital Contributions in respect of, and received all of the distributions received in
respect of, such Unit or other interest in the Company, shall succeed to the Capital Account balance associated with such Unit or other interest in the Company, shall receive allocations and distributions under Article IV and Article V
in respect of such Unit or other interest in the Company and otherwise shall become a Substituted Member entitled to all the rights of a Member with respect to such Unit or other interest in the Company. 

Section 7.5 Additional Requirements. Notwithstanding any contrary provision in this Agreement, for the avoidance of doubt, the
Managing Member may impose such vesting requirements, forfeiture provisions, Transfer restrictions, minimum retained ownership requirements or other similar provisions with respect to any interests in the Company that are outstanding as of the date
of this Agreement or are created hereafter, with the written consent of the holder of such interests in the Company. Such requirements, provisions and restrictions need not be uniform among holders of interests in the Company and may be waived or
released by the Managing Member in its sole discretion with respect to all or a portion of the interests in the Company owned by any one or more Members or Assignees at any time and from time to time, and such actions or omissions by the Managing
Member shall not constitute the breach of this Agreement or of any duty hereunder or otherwise existing at law, in equity or otherwise. 

Section 7.6 Bankruptcy. Notwithstanding any other provision of this Agreement, the Bankruptcy of a Member shall not cause such
Member to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution. 

ARTICLE VIII 
 BOOKS AND
RECORDS; FINANCIAL STATEMENTS AND 
 OTHER INFORMATION; TAX MATTERS 

Section 8.1 Books and Records. The Company shall keep at its principal executive office (i) correct and complete books and
records of account (which, in the case of financial records, shall be kept in accordance with GAAP), (ii) minutes of the proceedings of meetings of the Members, (iii) a current list of the directors and officers of the Company and its
Subsidiaries and their respective residence addresses, (iv) a record containing the names and addresses of all Members, (v) a record of the total number of Units held by each Member, if any, and the dates when they respectively became the
owners of record thereof and (vi) a record of the percentage of IDRs held by each Member, if any, and the dates when they respectively became the holder of record thereof. Any of the foregoing books, minutes or records may be in written form

  
 41 

 
or in any other form capable of being converted into written form within a reasonable time. Except as expressly set forth in this Agreement, notwithstanding the rights set forth in
Section 18-305 of the Act, no Member shall have the right to obtain information from the Company. 
 Section 8.2
Information. 
 (a) The Members shall be supplied at the Company’s expense with all other Company information
reasonably necessary to enable each Member to prepare its federal, state, and local income tax returns on a timely basis. 

(b) All determinations, valuations and other matters of judgment required to be made for ordinary course accounting purposes
under this Agreement shall be made by the Managing Member and shall be conclusive and binding on all Members, their Successors in Interest and any other Person who is a party to or otherwise bound by this Agreement, and to the fullest extent
permitted by law or as otherwise provided in this Agreement, no such Person shall have the right to an accounting or an appraisal of the assets of the Company or any successor thereto. 

Section 8.3 Fiscal Year. The Fiscal Year of the Company shall end on December 31st unless otherwise determined by the
Managing Member in its sole discretion in accordance with Section 706 of the Code. 
 Section 8.4 Certain Tax Matters. 

(a) Preparation of Returns. The Managing Member shall cause to be prepared all federal, state and local tax returns of
the Company for each year for which such returns are required to be filed and shall cause such returns to be timely filed. The Managing Member shall determine the appropriate treatment of each item of income, gain, loss, deduction and credit of the
Company and the accounting methods and conventions under the tax laws of the United States of America, the several states and other relevant jurisdictions as to the treatment of any such item or any other method or procedure related to the
preparation of such tax returns. Except as specifically provided otherwise in this Agreement, the Managing Member may cause the Company to make or refrain from making any and all elections permitted by such tax laws. As promptly as practicable after
the end of each Fiscal Year, the Managing Member shall cause the Company to provide to each Member a Schedule K-1 for such Fiscal Year. Additionally, the Managing Member shall cause the Company to provide on a timely basis to each Member, to the
extent commercially reasonable and available to the Company without undue cost, any information reasonably required by the Member to prepare, or in connection with an audit of, such Member’s income tax returns. 

(b) Consistent Treatment. Each Member agrees that it shall not, except as otherwise required by applicable law or
regulatory requirements, (i) treat, on its individual income tax returns, any item of income, gain, loss, deduction or credit relating to its interest in the Company in a manner inconsistent with the treatment of such item by the Company as
reflected on the Form K-1 or other information statement furnished by the Company to such Member for use in preparing its income tax returns or (ii) file any claim for refund relating to any such item based on, or which would result in, such
inconsistent treatment. 
 (c) Duties of the Tax Matters Member. In respect of an income tax audit of any tax return
of the Company, the filing of any amended return or claim for refund in connection with any item of income, gain, loss, deduction or credit reflected on any tax return of the Company, or any administrative or judicial proceedings arising out of or
in connection with any such audit, amended return, claim for refund or denial of such claim, (i) the Managing Member shall direct the Tax 

  
 42 

 
Matters Member to act for, and such action shall be final and binding upon, the Company and all Members except to the extent a Member shall properly elect to be excluded from such proceeding
pursuant to the Code, (ii) all expenses incurred by the Tax Matters Member in connection therewith (including attorneys’, accountants’ and other experts’ fees and disbursements) shall be expenses of, and payable by, the Company,
(iii) no Member shall have the right to (A) participate in the audit of any Company tax return, (B) file any amended return or claim for refund in connection with any item of income, gain, loss, deduction or credit (other than items
which are not partnership items within the meaning of Code Section 6231(a)(4) or which cease to be partnership items under Code Section 6231(b)) reflected on any tax return of the Company, (C) participate in any administrative or
judicial proceedings conducted by the Company or the Tax Matters Member arising out of or in connection with any such audit, amended return, claim for refund or denial of such claim, or (D) appeal, challenge or otherwise protest any adverse
findings in any such audit conducted by the Company or the Tax Matters Member or with respect to any such amended return or claim for refund filed by the Company or the Tax Matters Member or in any such administrative or judicial proceedings
conducted by the Company or the Tax Matters Member and (iv) the Tax Matters Member shall keep the Members reasonably apprised of the status of any such proceeding. Notwithstanding the previous sentence, if a petition for a readjustment to any
partnership item included in a final partnership administrative adjustment is filed with a District Court or the Court of Claims and the IRS has elected to assess income tax against a Member with respect to that final partnership administrative
adjustment (rather than suspending assessments until the District Court or Court of Claims proceedings become final), such Member shall be permitted to file a claim for refund within such period of time as to avoid application of any statute of
limitations which would otherwise prevent the Member from having any claim based on the final outcome of that review. 
 (d)
Tax Matters Member. The Company and each Member hereby designate the Managing Member as the “tax matters partner” for purposes of Code Section 6231(a)(7) (the “Tax Matters Member”). 

(e) Certain Filings. Upon the Transfer of an interest in the Company (within the meaning of the Code), a sale of Company
assets or a liquidation of the Company, the Members shall provide the Managing Member with information and shall make tax filings as reasonably requested by the Managing Member and required under applicable law. 

(f) Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at
all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class B Unit or Class B1 Unit is Transferred in
accordance with this Agreement or the applicable Exchange Agreement or (ii) any Company property is distributed to any Member. 

ARTICLE IX 

MISCELLANEOUS 

Section 9.1 Separate Agreements; Schedules. Notwithstanding any other provision of this Agreement, including Section 9.4, or
of any other binding agreement between the Company and any Member, the Managing Member may, or may cause the Company to, without the approval of any other Member or other Person, enter into separate agreements with individual Members with respect to
any matter, which have the effect of establishing rights under, or altering, supplementing or amending the terms of, this Agreement or any such separate agreement. The parties hereto agree that any terms contained in any such separate agreement
shall govern with respect to such Member(s) party thereto notwithstanding the provisions of this Agreement. The Managing Member may from time to time execute and deliver to the 

  
 43 

 
Members schedules which set forth information contained in the books and records of the Company and any other matters deemed appropriate by the Managing Member. Such schedules shall be for
information purposes only and shall not be deemed to be part of this Agreement for any purpose whatsoever. 
 Section 9.2 Governing
Law; Disputes. 
 (a) THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF
DELAWARE, EXCLUDING ANY CONFLICT OF LAWS RULE OR PRINCIPLE THAT MIGHT REFER THE GOVERNANCE OR THE CONSTRUCTION OF THIS AGREEMENT TO THE LAW OF ANOTHER JURISDICTION. 

(b) Any dispute, controversy or claim solely arising out of, relating to or in connection with the rights or obligations of the
Class A Member vis-à-vis any of the Class B Members or Class B1 Members shall be finally settled by arbitration. The arbitration shall take place in Wilmington, Delaware and be conducted in accordance with the Commercial Arbitration
Rules of the American Arbitration Association (the “AAA”) then in effect (except as they may be modified by mutual agreement of the Class A Member and the affected Class B Member or Class B1 Member). The arbitration shall be
conducted by three neutral, impartial and independent arbitrators, who shall be appointed by the AAA, at least one of whom shall be a retired judge or a senior partner at one of the nationally recognized Delaware-based law firms. The arbitration
award shall be final and binding on the parties. Judgment upon the award may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant party or its assets. The costs of the arbitration shall be borne by the
Company. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. Notwithstanding the foregoing, the parties hereto may bring an action or special proceeding in any court of competent jurisdiction
for the purpose of compelling a party to arbitrate and/or seeking temporary or preliminary relief in aid of arbitration hereunder. 

(c) Each party agrees that it shall bring any action, suit, demand or proceeding (including counterclaims) in respect of any
claim arising out of or related to this Agreement or the transactions contemplated hereby, exclusively in the United States District Court for the District of Delaware or any Delaware State court, in each case, sitting in the City of Wilmington,
Delaware (the “Chosen Courts”), and solely in connection with claims arising under this Agreement or the transactions contemplated hereby (i) irrevocably submits to the exclusive jurisdiction of the Chosen Courts,
(ii) waives any objection to laying venue in any such action, suit, demand or proceeding in the Chosen Courts, (iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any Party and
(iv) agrees that service of process upon such party in any such action, suit, demand or proceeding shall be effective if notice is given in accordance with Section 9.5. 

(d) EACH PARTY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, DEMAND OR PROCEEDING (INCLUDING
COUNTERCLAIMS) ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 9.3 Parties in
Interest. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective Successors in Interest; provided that no Person claiming by, through or under a Member (whether as such Member’s
Successor in Interest or otherwise), as distinct from such Member itself, shall have any rights as, or in respect to, a Member (including the right to approve or vote on any matter or to notice thereof), and nothing in this Agreement (express or
implied) is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement. 

  
 44 

 Section 9.4 Amendments and Waivers. This Agreement may be amended, supplemented,
waived or modified by the written consent of the Managing Member in its sole discretion without the approval of any other Member or other Person; provided that except as otherwise provided herein (including, without limitation, in
Section 3.2), no amendment may (i) modify the limited liability of any Member, or increase the liabilities or obligations of any Member, in each case, without the consent of each such affected Member; or (ii) materially and
adversely affect the rights of a holder of Class A Units, Class B Units or Class B1 Units, in their capacity as holders of Class A Units, Class B Units or Class B1 Units, in relation to other classes of Equity Securities of the Company,
without the consent of the holders of a majority of such classes of Units; and provided, further that so long as the Managing Member is Global, Inc., any such amendment, supplement or waiver must be approved by a majority of Global,
Inc.’s directors on the Independent Conflicts Committee. Notwithstanding the foregoing, the Managing Member may, without the written consent of any other Member or any other Person, amend, supplement, waive or modify any provision of this
Agreement and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, to: (1) reflect any amendment, supplement, waiver or modification that the Managing Member determines to be
necessary or appropriate in connection with the creation, authorization or issuance of any Class of Units or other Equity Securities in the Company or other Company securities in accordance with this Agreement; (2) reflect the admission,
substitution, withdrawal or removal of Members in accordance with this Agreement; (3) reflect a change in the name of the Company, the location of the principal place of business of the Company, the registered agent of the Company or the
registered office of the Company; (4) reflect a change in the Fiscal Year or taxable year of the Company and any other changes that the Managing Member determines to be necessary or appropriate as a result of a change in the Fiscal Year or
taxable year of the Company, including a change in the dates on which distributions are to be made by the Company; or (5) cure any ambiguity, mistake, defect or inconsistency; provided further, that the books and records of the
Company (including the Schedule of Members) shall be deemed amended from time to time to reflect the admission of a new Member, the withdrawal or resignation of a Member, the adjustment of the Units or other interests in the Company resulting from
any issuance, Transfer or other disposition of Units or other interests in the Company, in each case that is made in accordance with the provisions hereof. If an amendment has been approved in accordance with this Agreement, such amendment shall be
adopted and effective with respect to all Members. Upon obtaining such approvals as may be required by this Agreement, and without further action or execution on the part of any other Member or other Person, any amendment to this Agreement may be
implemented and reflected in a writing executed solely by the Managing Member and the other Members shall be deemed a party to and bound by such amendment. 

No failure or delay by any party in exercising any right, power or privilege hereunder (other than a failure or delay beyond a period of time
specified herein) shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall
be cumulative and not exclusive of any rights or remedies provided by law. 
 Section 9.5 Notices. Whenever notice is required
or permitted by this Agreement to be given, such notice shall be in writing and shall be given to any Member at such Member’s address or facsimile number shown in the Company’s books and records, or, if given to the Company, at the
following address: 
 TerraForm Global, LLC 

7550 Wisconsin Avenue, 9th Floor 

Bethesda, Maryland 20814 
 Attn:
General Counsel 
 Facsimile: (240) 762-7900 

  
 45 

 With a copy (which shall not constitute notice to the Company) to: 

Kirkland & Ellis LLP 

300 North LaSalle 
 Chicago,
Illinois 60654 
 Attn: Dennis M. Myers, P.C. 

Facsimile: (312) 862-2200 

Each proper notice shall be effective upon any of the following: (a) personal delivery to the recipient, (b) when sent by facsimile
to the recipient (with confirmation of receipt), (c) one Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid) or (d) three Business Days after being deposited in the mails (first class or
airmail postage prepaid). 
 Section 9.6 Counterparts. This Agreement may be executed simultaneously in two or more separate
counterparts, any one of which need not contain the signatures of more than one party, but each of which shall be an original and all of which together shall constitute one and the same agreement binding on all the parties hereto. 

Section 9.7 Power of Attorney. Each Member hereby irrevocably appoints the Managing Member as such Member’s true and lawful
representative and attorney in fact, each acting alone, in such Member’s name, place and stead, (a) to make, execute, sign and file all instruments, documents and certificates which, from time to time, may be required to set forth any
amendment to this Agreement or which may be required by this Agreement or by the laws of the United States of America, the State of Delaware or any other state in which the Company shall determine to do business, or any political subdivision or
agency thereof and (b) to execute, implement and continue the valid and subsisting existence of the Company or to qualify and continue the Company as a foreign limited liability company in all jurisdictions in which the Company may conduct
business. Such power of attorney is coupled with an interest and shall survive and continue in full force and effect notwithstanding the subsequent withdrawal from the Company of any Member for any reason and shall survive and shall not be affected
by the disability, incapacity, bankruptcy or dissolution of such Member. No power of attorney granted in this Agreement shall revoke any previously granted power of attorney. 

Section 9.8 Entire Agreement. This Agreement, the Exchange Agreements and the other documents and agreements referred to herein or
entered into concurrently herewith embody the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein; provided that such other agreements and documents shall not be deemed to be a part of, a
modification of or an amendment to this Agreement. There are no restrictions, promises, representations, warranties, covenants or undertakings, other than those expressly set forth or referred to herein. This Agreement supersedes all prior
agreements and understandings between the parties with respect to such subject matter, including the Original LLC Agreement. 

Section 9.9 Remedies. Each Member shall have all rights and remedies set forth in this Agreement and all rights and remedies that
such Person has been granted at any time under any other agreement or contract and all of the rights that such Person has under any applicable law. Any Person having any rights under any provision of this Agreement or any other agreements
contemplated hereby shall be entitled to enforce such rights specifically (without posting a bond or other security) to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by applicable
law. 

  
 46 

 Section 9.10 Severability. Whenever possible, each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein. 
 Section 9.11 Creditors. None of the provisions of this Agreement shall be for the benefit of or
enforceable by any creditors of the Company or any of its Affiliates, and no creditor who makes a loan to the Company or any of its Affiliates may have or acquire (except pursuant to the terms of a separate agreement executed by the Company in favor
of such creditor) at any time as a result of making the loan any direct or indirect interest in Company profits, losses, distributions, capital or property other than as a secured creditor. 

Section 9.12 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition
of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition. 

Section 9.13 Further Action. The parties agree to execute and deliver all documents, provide all information and take or refrain
from taking such actions as may be necessary or appropriate to achieve the purposes of this Agreement. 
 Section 9.14 Delivery by
Facsimile or Email. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent
signed and delivered by means of a facsimile machine or email with scan or facsimile attachment, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if
it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re execute original forms thereof and deliver them to all other
parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a
facsimile machine or email as a defense to the formation or enforceability of a contract, and each such party forever waives any such defense. 

  
 47 

 IN WITNESS WHEREOF, the parties have executed this Fourth Amended and Restated Limited Liability
Company Agreement. 
  

			
	 MANAGING MEMBER
  

TERRAFORM GLOBAL, INC.

		
	By:	 	 /s/ Jeremy Avenier

	Name:	 	Jeremy Avenier
	Title:	 	Chief Financial Officer
	
	 OTHER MEMBERS
  

SUNEDISON HOLDINGS CORPORATION

		
	 By:
	 	 /s/ Martin Truong

	 Name: Martin Truong

	 Title: Secretary

 Signature Page to A&R TerraForm Global, LLC Agreement 

 EXHIBIT A 

Adoption Agreement 
 This
Adoption Agreement is executed by the undersigned pursuant to the Amended and Restated Limited Liability Company Agreement of TerraForm Global, LLC (the “Company”), dated as
of            , 2015, as amended, restated or supplemented from time to time, a copy of which is attached hereto and is incorporated herein by reference (the “Agreement”).
By the execution of this Adoption Agreement, the undersigned agrees as follows: 
 1. Acknowledgment. The undersigned acknowledges
that he/she is acquiring Class B Units of the Company as a Class B Member, subject to the terms and conditions of the Agreement (including the Exhibits thereto), as amended from time to time. Capitalized terms used herein without definition are
defined in the Agreement and are used herein with the same meanings set forth therein. 
 2. Agreement. The undersigned hereby joins
in, and agrees to be bound by, subject to, and enjoy the benefit of the applicable rights set forth in, the Agreement (including the Exhibits thereto), as amended from time to time, with the same force and effect as if he/she were originally a party
thereto. 
 3. Notice. Any notice required or permitted by the Agreement shall be given to the undersigned at the address listed
below. 
 EXECUTED AND DATED on this day of            , 2015. 

 

			
	  

	[Name]	 	
		
	Notice Address:	 	  

	  

	  

			
		
	Facsimile:	 	  

 SCHEDULE OF MEMBERS 

 

			
	 Name of Member
	  	 Units

	 TerraForm Global, Inc.
	  	95,932,692 Class A Units
		
	 SunEdison Holdings Corporation
	  	61,343,054 Class B Units

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