Document:

EX-10.16

 Exhibit 10.16 

SUNNOVA ENERGY INTERNATIONAL INC. 

2019 LONG-TERM INCENTIVE PLAN 
 1.
Plan. This Sunnova Energy International Inc. 2019 Long-Term Incentive Plan (this “Plan”) was adopted by Sunnova Energy International Inc. to reward and provide incentives to certain employees and directors by enabling them to
acquire awards related to shares of common stock of Sunnova Energy International Inc. 
 2. Definitions. As used herein, the terms set forth below
shall have the following respective meanings: 
 “Affiliate” has the meaning ascribed to such term in Rule
12b-2 of the General Rules and Regulations of the Exchange Act. 
 “Award” means the grant of any
Option, SAR, Stock Award, Cash Award or Performance Award whether granted singly, in combination or in tandem, to a Participant pursuant to such applicable terms, conditions and limitations as the Committee may establish in order to fulfill the
objectives of this Plan. 
 “Award Agreement” means the document (in written or electronic form) setting forth the terms, conditions and
limitations applicable to an Award. Such agreement shall be written except that the Committee may, in its discretion, require or allow that the Participant electronically execute or accept such Award Agreement, or may adopt procedures for deemed
acceptance of an Award without formal written or electronic acceptance. The Award Agreement is subject to the terms and conditions of the Plan. 

“Board” means the Board of Directors of the Company. 

“Cash Award” means an Award denominated in cash. 

“Change in Control” means each of the following: 

(i) The acquisition after the date hereof by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
“Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (1) the then outstanding shares of common stock of the Company
(the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, (D) any acquisition previously approved by at least a majority of the members of the Incumbent Board (as such term is
hereinafter defined), (E) any acquisition approved by at least a majority of the members of the Incumbent Board within five business days after the Company has notice of such acquisition, or (F) any acquisition by any corporation pursuant to a
transaction which complies with clauses (1), (2), and (3) of subsection (iii) of this definition; or 
 (ii) Individuals who, as of the date
hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, appointment
or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but
excluding, for purposes of this definition, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

 (iii) The consummation of a reorganization, share exchange, merger (a “Business Combination”), in
each case, unless, following such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Business Combination will beneficially own, directly or indirectly, more than 70% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities
entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction will own the Company through
one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no
Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) will beneficially own, directly or indirectly, 20% or more of, respectively, the then outstanding shares of
common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination,
and (3) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the
Board, providing for such Business Combination or were elected, appointed or nominated by the Board; or 
 (iv) (1) Approval by the shareholders of the
Company of a complete liquidation or dissolution of the Company or (2) the sale or other disposition of all or substantially all of the assets of the Company, other than to a corporation, with respect to which following such sale or other
disposition, (A) more than 70% of, respectively, the then outstanding shares of common stock of such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the
election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company
Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company
Voting Securities, as the case may be, (B) less than 20% of, respectively, the then outstanding shares of common stock of such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to
vote generally in the election of directors will be beneficially owned, directly or indirectly, by any Person (excluding any employee benefit plan (or related trust) of the Company or such corporation), except to the extent that such Person owned
20% or more of the Outstanding Company Common Stock or Outstanding Company Voting Securities prior to the sale or disposition, and (C) at least a majority of the members of the board of directors of such corporation were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such sale or other disposition of assets of the Company or were elected, appointed or nominated by the Board. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. Reference to a specific section of the Code or regulation
thereunder will include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

“Committee” means (i) the Compensation Committee of the Board or (ii) such other committee of the Board as is designated by the
Board to administer this Plan or (iii) to the extent contemplated hereby, the Board. 
 “Common Stock” means the common stock, par
value $0.0001 per share, of the Company. 
 “Company” means Sunnova Energy International Inc., a Delaware corporation. 

“Consultant” means any natural person, including an advisor, engaged by the Company or Subsidiary to render bona fide services to such
entity, provided the services (i) are not in connection with the offer or sale of securities in a capital-raising transaction, and (ii) do not directly promote or maintain a market for the Company’s securities, in each case,
within the meaning of Form S-8 promulgated under the Securities Act, and provided, further, that a Consultant will include only those persons to whom the issuance of Shares may be registered under Form S-8 promulgated under the Securities Act. 
 “Director” means an individual serving as a
member of the Board. 

 “Dividend Equivalents” means, with respect to the shares of Common Stock subject to a Stock
Award other than Restricted Stock, an amount equal to all dividends and other distributions (or the economic equivalent thereof) that are payable to stockholders of record during the Restriction Period on a like number of shares of Common Stock.

 “Employee” means an employee of the Company or any of its Subsidiaries. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Fair Market Value” means, as of any date, the value of a share, determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New York Stock Exchange, the
NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market of The NASDAQ Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on
such exchange or system on the day of determination, as reported by such source as the Committee determines to be reliable; 
 (ii) If the Common Stock is
regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and
asks were reported on that date on the last Trading Day such bids and asks were reported), as reported by such source as the Committee determines to be reliable; 

(iii) For any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public set forth in the final prospectus included
within the registration statement in Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Company’s Common Stock; or 

(iv) Absent an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Committee. 

Notwithstanding the foregoing, if the determination date for the Fair Market Value occurs on a weekend, holiday or other
non-Trading Day, the Fair Market Value will be the price as determined under subsections (i) through (ii) above on the immediately preceding Trading Day, unless otherwise determined by the Committee.
In addition, for purposes of determining the fair market value of shares for any reason other than the determination of the Exercise Price of Options or Stock Appreciation Rights, fair market value will be determined by the Committee in a manner
compliant with applicable laws and applied consistently for such purpose. Note that the determination of fair market value for purposes of tax withholding may be made in the Committee’s sole discretion subject to applicable laws and is not
required to be consistent with the determination of Fair Market Value for other purposes. 
 “Incentive Option” means an Option that is
intended to comply with the requirements set forth in Section 422 of the Code and that is designated as an Incentive Stock Option by the Committee. 

“Nonemployee Director” means a Director who is not an Employee. 

“Nonqualified Stock Option” means an Option that is not an Incentive Option. 

“Option” means a right to purchase a specified number of shares of Common Stock at a specified price, which is either an Incentive Option or
a Nonqualified Stock Option. 
 “Participant” means an Employee, Consultant or Nonemployee Director to whom an Award has been made under
this Plan. 
 “Performance Award” means an Award which may be earned in whole or in part upon attainment of performance goals or other
vesting criteria as the Committee may determine and which will be settled for cash, shares or other securities or a combination of the foregoing under Section 7. 

“Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d)
thereof, including a “group” as defined in Section 13(d) thereof. 

 “Prior Plans” means the Stock Option Plan of Sunnova Energy Corporation, as thereafter
amended and the 2013 Stock Option Plan of Sunnova Energy Corporation. 
 “Registration Date” means the effective date of the first
registration statement filed by the Company and declared effective under Section 12(b) of the Exchange Act, with respect to the initial public offering of the Company’s Common Stock. 

“Restricted Stock” means any Common Stock that is restricted or subject to forfeiture provisions. 

“Restricted Stock Unit” means a right to receive a share of Common Stock or the value thereof on such terms and conditions as may be
established by the Committee. 
 “Restriction Period” means a period of time beginning as of the date upon which a Stock Award is made
pursuant to this Plan and ending as of the date upon which the Common Stock subject to such Stock Award is deliverable or no longer restricted or such Stock Award is no longer subject to forfeiture provisions. 

“Rule 16b-3” means Rule 16b-3 promulgated under the Exchange
Act, or any successor rule. 
 “SAR” means a right to receive a payment, in cash or Common Stock, equal to the excess of the Fair Market
Value or other specified valuation of a specified number of shares of Common Stock on the date the right is exercised over a specified strike price, in each case, as determined by the Committee. 

“Stock Award” means an award in the form of shares of Common Stock or units denominated in shares of Common Stock, including Restricted Stock
and Restricted Stock Units. For the avoidance of doubt, a Stock Award does not include an Option or SAR. 
 “Subsidiary” means (i) in
the case of a corporation, any corporation of which the Company directly or indirectly owns shares representing more than 50% of the combined voting power of the shares of all classes or series of capital stock of such corporation which have the
right to vote generally on matters submitted to a vote of the stockholders of such corporation and (ii) in the case of a partnership or other business entity not organized as a corporation, any such business entity of which the Company directly
or indirectly owns more than 50% of the voting, capital or profits interests (whether in the form of partnership interests, membership interests or otherwise). 

“Trading Day” means a day on which the applicable stock exchange or national market system is open for trading. 

“Voting Stock” shall mean stock of any class or kind having the power to vote generally for the election of Directors. 

3. Eligibility. All Employees, Consultants and Nonemployee Directors are eligible for Awards under this Plan in the sole discretion of the Committee.

 4. Common Stock Available for Awards. 
 (a) Subject to
the provisions of Section 14 hereof, there shall be available for Awards under this Plan granted wholly or partly in Common Stock (including rights or Options that may be exercised for or settled in Common Stock) an aggregate of 5,229,318
shares of Common Stock, all of which may be granted as Incentive Options. The number of shares of Common Stock that are the subject of Awards under this Plan or the Prior Plans, that are forfeited or terminated, expire unexercised, are settled in
cash in lieu of Common Stock or are exchanged for Awards that do not involve Common Stock, shall again immediately become available for additional Awards hereunder. Notwithstanding the foregoing, the following shares of Common Stock may not again be
made available for issuance as Awards under this Plan: (i) shares of Common Stock not issued or delivered as a result of the net settlement of a stock-settled SAR or Option, (ii) shares of Common Stock used to pay the exercise price or
withholding taxes related to outstanding Awards, or (iii) shares of Common Stock repurchased on the open market with the proceeds of the option exercise price. Shares of Common Stock delivered under the Plan as an Award or in settlement of an
Award issued or made (a) upon the assumption, substitution, conversion, or replacement of outstanding awards under a plan or arrangement of an entity acquired in a merger or other acquisition or (b) as a post-transaction grant under such a
plan or arrangement of an acquired entity shall not reduce or be counted against the maximum number of shares of Common Stock available for delivery under the Plan, to the extent that the exemption for transactions in connection with

 
mergers and acquisitions from the shareholder approval requirements of the securities exchange on which Common Stock is principally traded, if any), for equity compensation plans applies. The
Board and the appropriate officers of the Company shall from time to time take whatever actions are necessary to file any required documents with governmental authorities, stock exchanges and transaction reporting systems to ensure that shares of
Common Stock are available for issuance pursuant to Awards. 
 (b) Subject to the provisions of Section 14 of the Plan, the number of shares available
for issuance under the Plan will be increased on the first day of each fiscal year beginning with the 2020 fiscal year, in an amount equal to the lesser of (i) a number of shares such that the total number of shares that remain available for
additional grants under the Plan equals five percent (5%) of the outstanding shares of all classes of the Company’s common stock on the last day of the immediately preceding fiscal year or (ii) such number of shares determined by the
Board. 
 5. Administration. 
 (a) Except as otherwise
provided in this Plan with respect to actions or determinations by the Board, this Plan shall be administered by the Committee. To the extent required in order for Awards to be exempt from Section 16 of the Exchange Act by virtue of the
provisions of Rule 16b-3, (i) the Committee shall consist of at least two members of the Board who meet the requirements of the definition of “non-employee
director” set forth in Rule 16b-3 (b)(3)(i) promulgated under the Exchange Act or (ii) Awards may be granted by, and this Plan may be administered by, the Board. 

(b) Subject to the provisions hereof, the Committee shall have full and exclusive power and authority to administer this Plan and to take all actions that are
specifically contemplated hereby or are necessary or appropriate in connection with the administration hereof. The Committee shall also have full and exclusive power to interpret this Plan and to adopt such rules, regulations and guidelines for
carrying out this Plan as it may deem necessary or proper. The Committee may, in its discretion, provide for the extension of the exercisability of an Award, accelerate the vesting or exercisability of an Award, eliminate or make less restrictive
any restrictions contained in an Award, waive any restriction or other provision of this Plan or an Award or otherwise amend or modify an Award in any manner that is either (i) not adverse to the Participant to whom such Award was granted or
(ii) consented to by such Participant. Notwithstanding the foregoing, except in connection with a transaction involving the Company or its capitalization (as provided in Section 14), the terms of outstanding Awards may not be amended
without approval of the stockholders of the Company to (i) reduce the exercise price of outstanding Options or SARs or (ii) cancel, exchange, substitute, buyout or surrender outstanding Options or SARs in exchange for cash or other Awards
when the exercise price per share of the original Options or SARs exceeds the Fair Market Value of one share of Common Stock, (iii) take any other action with respect to an Option or SAR that would be treated as a repricing under the rules and
regulations of the principal national securities exchange on which the shares of Common Stock are listed or (iv) permit the grant of any Options or SARs that contains a so-called “reload”
feature under which additional Options, SARs or other Awards are granted automatically to the Participant upon exercise of the original Option or SAR. The Committee may make an Award to an individual who it expects to become an Employee, or
Nonemployee Director of the Company or any of its Subsidiaries within the next six months, with such award being subject to the individual actually becoming an Employee or Nonemployee Director, as applicable, within such time period, and subject to
such other terms and conditions as may be established by the Committee. The Committee may correct any defect or supply any omission or reconcile any inconsistency in this Plan or in any Award in the manner and to the extent the Committee deems
necessary or desirable to further the purposes of this Plan. Any decision of the Committee in the interpretation and administration of this Plan shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all
parties concerned. 
 (c) No member of the Committee or the Board or officer of the Company to whom the Committee has delegated authority in accordance with
the provisions of Section 6 of this Plan shall be liable for anything done or omitted to be done by him or her, by any member of the Committee or by any officer of the Company in connection with the performance of any duties under this Plan,
except for his or her own willful misconduct or as expressly provided by statute. 
 6. Delegation of Authority. To the extent allowed by applicable
law, the Committee may delegate to the Chief Executive Officer, to other senior officers of the Company or to other committees of the Board its duties under this Plan pursuant to such conditions or limitations as the Committee may establish, except
that the Committee may not delegate the authority to grant Awards to, or take other action with respect to, Participants who are subject to Section 16 of the Exchange Act. 

 7. Employee Awards. The Committee shall determine the type or types of Awards to be made under this
Plan and shall designate from time to time the Employees who are to be the recipients of such Awards. Each Award may be embodied in an Award Agreement, which shall contain such terms, conditions and limitations as shall be determined by the
Committee in its sole discretion, including any treatment upon a Change in Control, and shall be accepted by the Participant to whom the Award is made. Awards may consist of those listed in this Section 7 and may be granted singly, in
combination or in tandem. Awards may also be made in combination or in tandem with, in replacement of, or as alternatives to, grants or rights under this Plan or any other employee plan of the Company or any of its Subsidiaries, including the plan
of any acquired entity. All or part of an Award may be subject to conditions established by the Committee, which may include, but are not limited to, continuous service with the Company, its Affiliates and Subsidiaries, achievement of specific
performance or business objectives. Upon the termination of service with the Company, its Affiliates and Subsidiaries of a Participant, any unexercised, deferred, unvested or unpaid Awards shall be treated as set forth in the applicable Award
Agreement. 
 (a) Stock Option. An Award may be in the form of an Option. An Option awarded pursuant to this Plan may consist of an Incentive Option
or a Nonqualified Option. The price at which a share of Common Stock may be purchased upon the exercise of an Option shall be not less than the Fair Market Value of the Common Stock on the date of grant. Subject to the foregoing provisions, the
terms, conditions and limitations applicable to any Options awarded pursuant to this Plan, including the term of any Options and the date or dates upon which they become exercisable, shall be determined by the Committee. Only Employees may be
granted Incentive Options. The term of Options shall not exceed ten years from the date of grant; provided, however, if the term of a Nonqualified Stock Option expires when trading in the Common Stock is prohibited by applicable law or
at a time in which there is a blackout period or restriction period under the Company’s insider trading policy or practices (as then in effect), then the term of such Nonqualified Stock Option shall expire on the 30th day after the expiration
of such prohibition. 
 (b) Stock Appreciation Right. An Award may be in the form of a SAR. The per share strike price for a SAR shall be not less
than the Fair Market Value of the Common Stock on the date on which the SAR is granted. The terms, conditions and limitations applicable to any SARs awarded pursuant to this Plan, including the term of any SARs, whether the SAR will be settled in
cash or stock and the date or dates upon which they become exercisable, shall be determined by the Committee. The term of SARs shall not exceed ten years from the date of grant; provided, however, if the term of a SAR expires when
trading in the Common Stock is prohibited by applicable law or at a time in which there is a blackout period or restriction period under the Company’s insider trading policy or practices (as then in effect), then the term of such SAR shall
expire on the 30th day after the expiration of such prohibition. 
 (c) Stock Award. An Award may be in the form of a Stock Award. The terms,
conditions and limitations applicable to any Stock Awards granted pursuant to this Plan shall be determined by the Committee. 
 (d) Cash Award. An
Award may be in the form of a Cash Award. The terms, conditions and limitations applicable to any Cash Awards granted pursuant to this Plan shall be determined by the Committee. 

(e) Performance Award. Without limiting the type or number of Awards that may be made under the other provisions of this Plan, an Award may be in the
form of a Performance Award. The amount of cash or shares payable or vested pursuant to Performance Awards may be adjusted upward or downward, either on a formula or discretionary basis or any combination, as the Committee determines. Subject to the
foregoing provisions, the terms, conditions and limitations applicable to any Performance Awards made pursuant to this Plan shall be determined by the Committee. 

8. Director Awards. The Committee may grant Awards to Nonemployee Directors from time to time in accordance with this Section 8. Such Awards may
consist of the forms of Award described in Section 7, other than Incentive Options, and shall be granted subject to such terms and conditions as specified in Section 7. No Nonemployee Director may be granted during any calendar year Awards
having a fair value determined on the date of grant when added to all cash compensation paid to the Nonemployee Director (in his capacity as Nonemployee Director) during the same calendar year in excess of $500,000. 

9. Payment of Awards. 
 (a) General. Payment of
Awards may be made in the form of cash or Common Stock, or a combination thereof, and may include such restrictions as the Committee shall determine, including, in the case of Common Stock, restrictions on transfer and forfeiture provisions. If
payment of an Award is made in the form of Restricted Stock, the right to receive such shares shall be evidenced by book entry registration or in such other manner as the Committee may determine. Any statement of ownership evidencing such Restricted
Stock shall contain appropriate legends and restrictions that describe the terms and conditions of the restrictions applicable thereto. 

 (b) Dividends and Dividend Equivalents. In the discretion of the Committee, rights to dividends or
Dividend Equivalents may be extended to and made part of any Stock Award. No Dividend Equivalents may be paid in respect of an Award of Options or SARs. 

10. Stock Option Exercise. The price at which shares of Common Stock may be purchased under an Option shall be paid in full at the time of exercise in
cash or, if elected by the optionee, the optionee may purchase such shares by means of tendering Common Stock valued at Fair Market Value on the date of exercise, or any combination thereof. The Committee shall determine acceptable methods for
Participants to tender Common Stock. The Committee may provide for procedures to permit the exercise or purchase of such Awards by foregoing the delivery of shares of Common Stock otherwise deliverable upon the exercise of the Option or by use of
the proceeds to be received from the sale of Common Stock issuable pursuant to an Award. 
 11. Taxes. The Company shall have the right to deduct
applicable taxes from any Award payment and withhold, at the time of delivery or vesting of cash or shares of Common Stock under this Plan, an appropriate amount of cash or number of shares of Common Stock or a combination thereof for payment of
taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. The Committee may also permit withholding to be satisfied by (i) the transfer to the
Company of shares of Common Stock theretofore owned by the holder of the Award or (ii) withholding from the shares otherwise deliverable under the Award, in either case with respect to which withholding is required, up to the maximum tax rate
applicable to the Participant, as determined by the Committee. If shares of Common Stock are used to satisfy tax withholding, such shares shall be valued based on the Fair Market Value when the tax withholding is required to be made. 

12. Amendment, Modification, Suspension or Termination. The Board may amend, modify, suspend or terminate this Plan for the purpose of meeting or
addressing any changes in legal requirements or for any other purpose permitted by law, except that (i) no amendment or alteration that would adversely affect the rights of any Participant under any Award previously granted to such Participant
shall be made without the consent of such Participant and (ii) no amendment or alteration shall be effective prior to its approval by the stockholders of the Company to the extent such approval is then required pursuant to Rule 16b-3 in order to preserve the applicability of any exemption provided by such rule to any Award then outstanding (unless the holder of such Award consents) or to the extent stockholder approval is otherwise
required by applicable legal requirements. 
 13. Assignability. 

(a) Unless otherwise determined by the Committee and provided in the Award Agreement, no Award or any other benefit under this Plan constituting a derivative
security within the meaning of Rule 16a-1(c) under the Exchange Act shall be assignable or otherwise transferable except by will or the laws of descent and distribution or pursuant to a qualified domestic
relations order in a form acceptable to the Committee. The Committee may prescribe and include in applicable Award Agreements other restrictions on transfer. Any attempted assignment of an Award or any other benefit under this Plan in violation of
this Section 13 shall be null and void. 
 (b) Subject to approval by the Committee in its sole discretion, other than with respect to Incentive
Options, all or a portion of the Awards granted to a Participant under this Plan may be transferable by the Participant, to the extent and only to the extent specified in such approval, to (a) the spouse, children or grandchildren (including
adopted and stepchildren and grandchildren) of the Participant (“Immediate Family Members”), (b) a trust or trusts for the exclusive benefit of such Immediate Family Members and, if applicable, the Participant or (c) a partnership or
partnerships in which such Immediate Family Members and, if applicable, the Participant are the only partners. Subsequent transfers of transferred Awards shall be prohibited except by will or the laws of descent and distribution, unless such
transfers are made to the original Participant or a person to whom the original Participant could have made a transfer in the manner described herein. No transfer shall be effective unless and until written notice of such transfer is provided to the
Committee, in the form and manner prescribed by the Committee. Following transfer, any such Awards shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, and except as otherwise provided
herein, the term “Participant” shall be deemed to refer to the transferee. No transferred Options shall be exercisable unless arrangements satisfactory to the Company have been made to satisfy any tax withholding obligations the Company
may have with respect to the Options. The consequences of termination of employment or service shall continue to be applied with respect to the original Participant, following which the Awards shall be exercisable by the transferee only to the
extent and for the periods specified in this Plan and the Award Agreement. 

 14. Adjustments. 

(a) The existence of outstanding Awards shall not affect in any manner the right or power of the Company or its stockholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or other changes in the capital stock of the Company or its business or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock (whether or
not such issue is prior to, on a parity with or junior to the Common Stock) or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding of any kind,
whether or not of a character similar to that of the acts or proceedings enumerated above. 
 (b) In the event of any subdivision or consolidation of
outstanding shares of Common Stock, declaration of a dividend payable in shares of Common Stock or other stock split, the adoption by the Company of any plan of exchange affecting the Common Stock or any distribution to holders of Common Stock of
securities or property (other than normal cash dividends or dividends payable in Common Stock), (i) the number of shares of Common Stock reserved under this Plan, (ii) the number of shares of Common Stock covered by Awards in the form of
Common Stock or units denominated in Common Stock, (iii) the exercise or other price in respect of such Awards, and (iv) the appropriate Fair Market Value and other price determinations for such Awards shall each be proportionately
adjusted by the Committee to reflect such event; provided that such adjustments shall only be such as are necessary to maintain the proportionate interest of the holders of the Awards and preserve, without exceeding, the value of such Awards. 

(c) In the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the Committee may make such
adjustments to outstanding Awards or other provisions for the disposition of outstanding Awards as it deems equitable, and shall be authorized, in its discretion, (i) to provide for the substitution of a new Award or other arrangement (which,
if applicable, may be exercisable for such property or stock as the Committee determines) for an outstanding Award or the assumption of an outstanding Award, regardless of whether in a transaction to which Section 424(a) of the Code applies,
(ii) to provide, prior to the transaction, for the acceleration of the vesting and exercisability of, or lapse of restrictions with respect to, the outstanding Award and, if the transaction is a cash merger, to provide for the termination of
any portion of the Award that remains unexercised at the time of such transaction or (iii) to provide for the acceleration of the vesting and exercisability of an outstanding Award and the cancellation thereof in exchange for such payment of
such cash or property as shall be determined by the Committee in its sole discretion, which for the avoidance of doubt in the case of Options or SARs (whether stock- or cash-settled) shall be the excess, if any, of the Fair Market Value of the
shares of Common Stock subject to the Option or SAR on such date over the aggregate exercise price of such Award; provided, however, that no such adjustment shall increase the aggregate value of any outstanding Award. No adjustment or
substitution pursuant to this Section 14 shall be made in a manner that results in noncompliance with Section 409A of the Code, to the extent applicable. 

15. Change in Control. The consequences of a Change in Control on any outstanding Award shall be determined by the Committee and may be reflected in the
applicable Award Agreement, or may be as provided in an individual severance or employment agreement to which a Participant is a party. 
 16.
Restrictions. 
 (a) No Common Stock or other form of payment shall be issued with respect to any Award unless the Company shall be satisfied based on
the advice of its counsel that such issuance will be in compliance with applicable federal and state securities laws. The inability of the Company to obtain authority from any regulatory body having jurisdiction or to complete or comply with the
requirements of any registration or other qualification of the shares under any U.S. federal or state law, any non-U.S. law, or the rules and regulations of the Securities and Exchange Commission,
the stock exchange on which shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company’s counsel to be necessary or advisable
for the issuance and sale of any shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority, registration, qualification or rule compliance will not have
been obtained. 
 (b) It is the intent of the Company that grants of Awards under this Plan comply with Rule 16b-3
with respect to individuals subject to Section 16 of the Exchange Act unless otherwise provided herein or in an Award Agreement and that any ambiguities or inconsistencies in the construction of such an Award or this Plan be interpreted to give
effect to such intention. Certificates evidencing shares of Common Stock delivered under this Plan (to the extent that 

 
such shares are so evidenced) may be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the
Securities and Exchange Commission, any securities exchange or transaction reporting system upon which the Common Stock is then listed or to which it is admitted for quotation and any applicable federal or state securities law. The Committee may
cause a legend or legends to be placed upon such certificates (if any) to make appropriate reference to such restrictions. The Committee may also impose such restrictions, conditions or limitations as it determines appropriate as to the timing and
manner of any resales by a Participant, other subsequent transfers by the Participant of any shares of Common Stock issued as a result of or under an Award, or the exercise of Options and SARs, including without limitation, restrictions under an
insider trading policy. 
 17. Unfunded Plan. Insofar as it provides for Awards of cash, Common Stock or rights thereto, this Plan shall be unfunded.
Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. The Company shall not be
required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, nor shall this Plan be construed as providing for such segregation, nor shall the Company, the Board or the Committee be deemed to be a
trustee of any cash, Common Stock or rights thereto to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely
upon any contractual obligations that may be created by this Plan and any Award Agreement, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. Neither
the Company nor the Board nor the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. 

18. Section 409A of the Code. All Awards under this Plan are intended either to be exempt from, or to comply with the requirements of
Section 409A, and this Plan and all Awards shall be interpreted and operated in a manner consistent with that intention. Notwithstanding anything in this Plan to the contrary, if any Plan provision or Award under this Plan would result in the
imposition of an applicable tax under Section 409A, that Plan provision or Award shall be reformed to avoid imposition of the applicable tax and no such action shall be deemed to adversely affect the Participant’s rights to an Award. 

19. Governing Law. This Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by mandatory provisions
of the Code or the securities laws of the United States, shall be governed by and construed in accordance with the laws of the State of Delaware. 
 20.
Clawback. To the extent required by applicable law or any applicable securities exchange listing standards, or as otherwise determined by the Committee, Awards and amounts paid or payable pursuant to or with respect to Awards shall be subject
to the provisions of any clawback policy implemented by the Company, which clawback policy may provide for forfeiture, repurchase or recoupment of Awards and amounts paid or payable pursuant to or with respect to Awards. Notwithstanding any
provision of this Plan or any Award Agreement to the contrary, the Company reserves the right, without the consent of any Participant, to adopt any such clawback policies and procedures. 

21. No Right to Employment or Continued Service. Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the
Company or a Subsidiary to terminate any Participant’s employment or other service relationship at any time, nor confer upon any Participant any right to continue in the capacity in which he or she is employed or otherwise serves the Company or
any Subsidiary. Further, nothing in this Plan or an Award Agreement constitutes any assurance or obligation of the Board to nominate any Nonemployee Director for re-election by the Company’s stockholders.
In accepting the Award under the Plan, each Participant acknowledges that: 
 (a) The Plan is established voluntarily by the Company, it is discretionary in
nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Award Agreement. 

(b) The Award is a one-time benefit and does not create any contractual or other right to receive an award or benefits
in lieu of an award in the future; future awards, if any, will be at the sole discretion of the Company. 
 (c) The Participant is voluntarily participating
in the Plan. 
 (d) An Award is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Employer,
and which is outside the scope of the Participant’s employment contract, if any. 

 (e) The Award is not part of normal or expected compensation or salary for any purpose, including, but not
limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or
relating in any way to, past services for the Company or the Employer. 
 (f) The Award will not be interpreted to form an employment contract or
relationship with the Company; and furthermore, the Award will not be interpreted to form an employment contract with any Subsidiary. 
 (g) This Agreement
shall not confer upon the Participant any right to continuation of employment by the Company, nor shall this Agreement interfere in any way with the Company’s right to terminate the Participant’s employment at any time, as may be permitted
under local law. 
 (h) The future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty. 

(i) If the Award vests and the Participant obtains shares of Common Stock, the value of those shares acquired may increase or decrease in value. 

(j) In consideration of the grant of an Award, no claim or entitlement to compensation or damages shall arise from termination of the Award or diminution in
value of the Award or shares of Common Stock acquired upon settlement of the Award resulting from termination of the Participant’s employment (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant
irrevocably releases the Company and his employer (if different) from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting this Award, the
Participant will be deemed irrevocably to have waived the Participant’s entitlement to pursue such claim. 
 (k) Except as may be expressly provided
otherwise in the applicable Award Agreement, in the event of involuntary termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive the Award and vest under the Plan, if any, will
terminate effective as of the date that Participant is no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar
period pursuant to local law); furthermore, in the event of involuntary termination of employment (whether or not in breach of local labor laws), Participant’s right to receive shares of Common Stock pursuant to an Award after termination of
employment, if any, will be measured by the date of termination of Participant’s active employment and will not be extended by a notice period mandated under local law; the Committee shall have the exclusive discretion to determine when the
Participant is no longer actively employed for purposes of the award of the Award. 
 (l) Except as provided in the Plan, the Award and benefits under the
Plan, if any, will not automatically transfer to another company in the case of a merger, take-over or transfer of liability. 
 22. Successors. All
obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company by merger, consolidation or otherwise. For the avoidance of doubt, nothing contained in the Plan is intended to
amend or abrogate a Participant’s rights under an employment agreement with the Company. 
 23. Non-United
States Participants. The Board or Committee may grant Awards to individuals outside the United States under such terms and conditions as may, in the judgment of the Board or Committee, as applicable, be necessary or advisable to comply with the
laws of the applicable foreign jurisdictions and, to that end, may establish sub-plans, modified vesting, exercise or settlement procedures and other terms and procedures. Notwithstanding the above, neither
the Board nor the Committee may take any actions under this Plan, and no Awards shall be granted, that would violate the Securities Exchange Act of 1934, the Code or any other applicable law. 

24. Effectiveness. This Plan, as approved by the Board on July 10, 2019, shall be effective as of the Registration Date. This Plan shall continue
in effect for a term of ten years after the Registration Date, unless sooner terminated by action of the Board. The Plan was approved by the holders of a majority of shares of Common Stock effective as of July 24, 2019. 

 IN WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly authorized officer. 

 

							
	SUNNOVA ENERGY INTERNATIONAL INC.
		
	By:	 	 /s/ William J. Berger

	Name:	 	William J. Berger
	Title:	 	Chairman of the Board, President and Chief Executive OfficerEX-10.17

 Exhibit 10.17 

SUNNOVA ENERGY INTERNATIONAL INC. 

2013 STOCK OPTION PLAN 

(As Amended and Restated Effective July 29, 2019) 
  

	1.	 General. 

(a) Eligible Option Recipients. The persons eligible to receive Options are Employees and Directors. 

(b) Available Options. The Plan provides for the grant of Nonstatutory Stock Options. 

(c) General Purpose. The Company, by means of the Plan, seeks to secure and retain the services of the group of persons eligible
to receive Options as set forth in Section l(a), to provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and to provide a means by which such eligible recipients may be given an opportunity to
benefit from increases in value of the Common Stock through the granting of Options. The Plan was originally adopted as the 2013 Stock Option Plan of Sunnova Energy Corporation, and was amended and restated and assumed by the Company in connection
with the closing of the transactions contemplated by the Agreement and Plan of Merger, by and among the Company, Sunnova Energy Corporation and Sunnova Merger Sub Inc. dated as of July 29, 2019. 

(d) No Further Grants. No Options may be granted under the Plan on or after the Restatement Date. On and after the Restatement
Date, the Plan exists solely to govern the administration of Options granted prior to the Restatement Date. 
 (e) Defined
Terms. Capitalized terms are defined in Section 12. 
  

	2.	 Administration. 

(a) Administration by Board. The Board shall administer the Plan; provided that as of the Effective Date, the Committee shall
administer the Plan (and references in this Plan to the Board shall thereafter be to the Committee). 
 (b) Powers of Board.
The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 
  

	 	(i)	 To determine from time to time (A) which of the persons eligible under the Plan shall be granted Options;
(B) when and how each Option shall be granted; (C) what type or combination of types of Option shall be granted; (D) the provisions of each Option granted (which need not be identical), including the time or times when a person shall
be permitted to receive Common Stock pursuant to an Option; (E) the number of shares of Common Stock with respect to which an Option shall be granted to each such person; and (F) the Fair Market Value applicable to an Option.

  
 1 

	 	(ii)	 To construe and interpret the Plan and Options granted under it, and to establish, amend and revoke rules and
regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Option Agreement, in a manner and to the extent it shall deem necessary or expedient to make the
Plan or Option fully effective. 

  

	 	(iii)	 To settle all controversies regarding the Plan and Options granted under it. 

 

	 	(iv)	 To accelerate the time at which an Option may first be exercised or the time during which an Option or any part
thereof will vest in accordance with the Plan, notwithstanding the provisions in the Option stating the time at which it may first be exercised or the time during which it will vest. 

 

	 	(v)	 To suspend or terminate the Plan at any time. Suspension or termination of the Plan shall not impair rights and
obligations under any Option granted while the Plan is in effect except with the written consent of the affected Option Holder. 

  

	 	(vi)	 To amend the Plan in any respect the Board deems necessary or advisable, including, without limitation, by
adopting amendments relating to Options under Section 409A of the Code and/or to bring the Plan or Options granted under the Plan into compliance therewith, subject to the limitations, if any, of applicable law. However, except as provided in
Section 8(a) relating to Capitalization Adjustments, to the extent required by applicable law or listing requirements, stockholder approval shall be required for any amendment of the Plan that either (A) materially increases the number of
shares of Common Stock available for issuance under the Plan, (B) materially expands the class of individuals eligible to receive Options under the Plan, (C) materially increases the benefits accruing to Option Holders under the Plan or
materially reduces the price at which shares of Common Stock may be issued or purchased under the Plan, (D) materially extends the term of the Plan, or (E) expands the types of awards available for issuance under the Plan. Except as
provided above, rights under any Option granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (1) the Company requests the consent of the affected Option Holder, and (2) such Option Holder consents
in writing. 

  

	 	(vii)	 To submit any amendment to the Plan for stockholder approval, including, but not limited to, amendments to the
Plan intended to satisfy the requirements of (A) Section 162(m) of the Code regarding the exclusion of performance-based compensation from the limit on corporate deductibility of compensation paid to Covered Employees,
(B) Section 422 of the Code regarding incentive stock options or (C) Rule 16b-3. 

  
 2 

	 	(viii)	 To approve the form of Option Agreement for use under the Plan and to amend the terms of any one or more
Options, including, but not limited to, amendments to provide terms more favorable to the Option Holder than previously provided in the Option Agreement, subject to any specified limits in the Plan that are not subject to Board discretion.

  

	 	(ix)	 Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to
promote the best interests of the Company and that are not in conflict with the provisions of the Plan or the Options. 

  

	 	(x)	 To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by
Employees and Directors who are foreign nationals or employed outside the United States. 

  

	 	(xi)	 To effect, at any time and from time to time, with the consent of any adversely affected Option Holder,
(A) the reduction of the exercise price of any outstanding Option under the Plan; (B) the cancellation of any outstanding Option under the Plan and the grant in substitution therefor of (1) a new Option under the Plan or another
equity plan of the Company covering the same or a different number of shares of Common Stock, (2) cash and/or (3) other valuable consideration (as determined by the Board, in its sole discretion); or (C) any other action that is
treated as a repricing under generally accepted accounting principles. 

 (c) Delegation to
Committee. The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of the powers previously delegated, except any actions with respect to matters that
under Rule 16b-3 under the Exchange Act or any successor rule, or Section 162(m) of the Code, or any regulations or rules issued thereunder, or the rules of any securities exchange or automated quotation
system on which the shares of Common Stock are listed, quoted or traded are required to be determined in the sole discretion of the Compensation Committee. 

(d) Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in
good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. 
  

	3.	 Shares Subject to the Plan. 

(a) Share Reserve. Subject to the provisions of Section 8(a) relating to Capitalization Adjustments, the aggregate number of
shares of Common Stock of the Company that may be issued pursuant to Options after the Effective Date shall not exceed 26,032 shares. For clarity, the limitation in this Section 3(a) is a limitation on the number of shares of Common Stock that

  
 3 

 
may be issued pursuant to the Plan and does not limit the granting of Options. Shares may be issued in connection with a merger or acquisition as permitted by, as applicable, NASDAQ Listing Rule
5635(c) or, if applicable, NYSE Listed Company Manual Section 303A.08, AMEX Company Guide Section 711 or other applicable stock exchange rule, and such issuance shall not reduce the number of shares available for issuance under the Plan.
Furthermore, if an Option expires or otherwise terminates without having been exercised in full, such expiration or termination shall not reduce (or otherwise offset) the number of shares of Common Stock that may be available for issuance under the
Plan. 
 (b) Reversion of Shares to the Share Reserve. If any shares of Common Stock issued pursuant to an Option are
forfeited back to the Company because of the failure to meet a contingency or condition required to vest such shares in the Option Holder, then the shares that are forfeited shall revert to and again become available for issuance under the Plan. Any
shares reacquired by the Company pursuant to Section 5(m) or as consideration for the exercise of an Option shall again become available for issuance under the Plan. 

(c) Source of Shares. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Common Stock,
including shares repurchased by the Company on the open market or otherwise. 
  

	4.	 Eligibility1. . Options may be granted to Employees and Directors; provided,
however Options may not be granted to Employees and Directors who are providing Continuous Service only to any “parent” of the Company, as such term is defined in Rule 405 promulgated under the Securities Act, unless the stock underlying
such Option is treated as “service recipient stock” under Section 409A of the Code because the Options are granted pursuant to a Corporate Transaction or unless such Options comply with the distribution requirements of
Section 409A of the Code. 

  

	5.	 Option Provisions. Each Option Agreement shall be in such form and shall contain such terms and
conditions as the Board shall deem appropriate. The provisions of separate Options need not be identical; provided, however, that each Option Agreement shall conform to (through incorporation of provisions hereof by reference in the applicable
Option Agreement or otherwise) the substance of each of the following provisions: 

 (a) Term. No Option
shall be exercisable after the expiration often (10) years from the date of its grant or such shorter period specified in the Option Agreement 

(b) Exercise Price. The exercise price of each Option shall be not less than one hundred percent (100%) of the Fair Market Value
of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Option may be granted with an exercise price lower than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to
the Option if such Option is granted pursuant to an assumption of or substitution for another option pursuant to a Corporate Transaction and in a manner consistent with the provisions of Sections 409A and, if applicable, 424(a) of the Code. 

(c) Manner of Exercise. An Option Holder may exercise an Option by providing written notice of such exercise to the Company by
submitting the notice of exercise in the form set forth by the Company from time to time. The date upon which such notice is received by the Company shall be the exercise date for the Options. 

  
 4 

 (d) Purchase Price for Options. The purchase price of Common Stock acquired
pursuant to the exercise of an Option shall be paid, to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment set forth below. The Board shall have the authority to
grant Options that do not permit all of the following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to utilize a particular method of payment. The
permitted methods of payment are as follows: 
  

	 	(i)	 check, bank draft, wire transfer or money order payable to the Company; 

 

	 	(ii)	 by delivery to the Company (either by actual delivery or attestation) of shares of Common Stock;

  

	 	(iii)	 by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of
Common Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that the Company shall accept cash or other payment from the Option Holder to
the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided, further, that shares of Common Stock will no longer be subject to an Option and will not be
exercisable thereafter to the extent that (A) shares issuable upon exercise are reduced to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered to the Option Holder as a result of such exercise, and
(C) shares are withheld to satisfy tax withholding obligations; or 

  

	 	(iv)	 in any other form of legal consideration that may be acceptable to the Board. 

(e) Transferability of Options. The Board may, in its sole discretion, impose such limitations on the Transferability of Options
as the Board shall determine. In the absence of such a determination by the Board to the contrary an Option shall not be transferable except by will or by the laws of descent and distribution. The Board may, in its sole discretion, permit Transfer
of the Option in a manner that is not prohibited by applicable tax and securities laws upon the Option Holder’s request. Except as explicitly provided herein or approved by the Board, an Option may not be Transferred for consideration. If an
Option is Transferred in violation of the Plan or the Option the Option Holder’s right to exercise the Option shall terminate immediately upon such Transfer. 

(f) Beneficiary Designation. Notwithstanding the foregoing, the Option Holder may, by delivering written notice to the Company,
in a form provided by or otherwise satisfactory to the Company and any broker designated by the Company to effect Option exercises, designate a third party who, in the event of the death of the Option Holder, shall thereafter be entitled to exercise
the Option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, the executor or administrator of the Option Holder’s estate shall be entitled to exercise the Option and receive
the Common Stock or other consideration resulting from such exercise. 

  
 5 

 (g) Vesting Generally. The total number of shares of Common Stock subject to
an Option may vest and therefore become exercisable in periodic installments that may or may not be equal. The Option may be subject to such other terms and conditions on the time or times when it may or may not be exercised (which may be based on
the satisfaction of Performance Goals or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options may vary_ The provisions of this Section S(g) are subject to any Option provisions governing the minimum number
of shares of Common Stock as to which an Option may be exercised. 
 (h) Termination of Continuous Service. Except as
otherwise provided in the applicable Option Agreement or other agreement between the Option Holder and the Company, in the event that an Option Holder’s Continuous Service terminates (other than upon the Option Holder’s death or
Disability): 
  

	 	(i)	 If the Option Holder’s Continuous Service is terminated by the Company without Cause, the Option Holder
may exercise his or her Option (to the extent that the Option Holder was entitled to exercise such Option as of the date of termination of Continuous Service) but only within such period of time ending on the earlier of (i) the date thirty
(30) days following the termination of the Option Holder’s Continuous Service by the Company without Cause (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of the Option as set
forth in the Option Agreement If, after termination of Continuous Service by the Company without Cause, the Option Holder does not exercise his or her Option within the time specified herein or in the Option Agreement (as applicable), the Option
shall terminate; or 

  

	 	(ii)	 If the Option Holder’s Continuous Service is terminated for any other reason, the Option shall terminate
simultaneously with the termination of Continuous Service. 

 (i) Extension of Termination
Date. If the exercise of an Option following the termination of the Option Holder’s Continuous Service (other than upon the Option Holder’s death or Disability) would be prohibited at any time solely because the issuance of shares of
Common Stock would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of a total period of ninety (90) days (that need not be consecutive) after the
termination of the Option Holder’s Continuous Service during which the exercise of the Option would not be in violation of such registration requirements, or (ii) the expiration of the term of the Option as set forth in the Option
Agreement. In addition, unless otherwise provided in an Option Holder’s Option Agreement, if the sale of any Common Stock received upon exercise of an Option following the termination of the Option Holder’s Continuous Service would violate
the Company’s insider trading policy, then the Option shall terminate on the earlier of (i) the expiration of a period equal to the applicable post - termination exercise period after the termination of the Option Holder’s
Continuous Service during which the exercise of the Option would not be in violation of the Company’s insider trading policy, or (ii) the expiration of the term of the Option as set forth in the applicable Option Agreement 

  
 6 

 (j) Disability of Option Holder. Except as otherwise provided in the
applicable Option Agreement or other agreement between the Option Holder and the Company, if an Option Holder’s Continuous Service terminates as a result of the Option Holder’s Disability, the Option Holder may exercise his or her Option
(to the extent that the Option Holder was entitled to exercise such Option as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (i) the date one hundred twenty (120) days
following such termination of Continuous Service (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination of Continuous
Service, the Option Holder does not exercise his or her Option within the time specified herein or in the Option Agreement (as applicable), the Option shall terminate. 

(k) Death of Option Holder. Except as otherwise provided in the applicable Option Agreement or other agreement between the
Option Holder and the Company, if (i) an Option Holder’s Continuous Service terminates as a result of the Option Holder’s death, or (ii) the Option Holder dies within the period (if any) specified in the Option Agreement after
the termination of the Option Holder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Option Holder was entitled to exercise such Option as of the date of death) by the Option Holder’s
estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Option Holder’s death, but only within the period ending on the earlier of (i) the date
one hundred twenty (120) days following the date of death (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of such Option as set forth in the Option Agreement If, after the Option
Holder’s death, the Option is not exercised within the time specified herein or in the Option Agreement (as applicable), the Option shall terminate. 

(l) Non-Exempt Employees. No Option, whether or not vested, granted to an Employee who
is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended (the “FLSA”), shall be first exercisable for any shares of Common Stock until at least six (6) months
following the date of grant of the Option. Notwithstanding the foregoing, consistent with the provisions of the Worker Economic Opportunity Act, P.L. 106-202, (i) upon the Option Holder’s death or
Disability, (ii) upon a Corporate Transaction in which such Option is not assumed, continued, or substituted, or (iii) upon the Option Holder’s retirement (as such term may be defined in the Option Holder’s Option Agreement or in
another applicable agreement or in accordance with the Company’s then current employment policies and guidelines), any such vested Options may be exercised earlier than six (6) months following the date of grant. The foregoing provision is
intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option will be exempt from his or her regular rate of pay for purposes of the FLSA. 

(m) Early Exercise. The Option may, but need not, include a provision whereby the Option Holder may elect at any time before the
Option Holder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject to the Option prior to the full vesting of the Option. Any unvested shares of Common Stock so purchased may be
subject to a repurchase option in favor of the Company or to any other restriction the Board 

  
 7 

 
determines to be appropriate. The Company shall not be required to exercise its repurchase right until at least six (6) months (or such longer or shorter period of time required to avoid
classification of the Option as a liability for financial accounting purposes) have elapsed following exercise of the Option unless the Board otherwise specifically provides in the Option Agreement. 

 

	6.	 Covenants of the Company. 

(a) Availability of Shares. During the terms of the Options, the Company shall keep available at all times the number of shares
of Common Stock required to satisfy such Options. 
 (b) Securities Law Compliance. The Company shall seek to obtain from each
regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Options and to issue and sell shares of Common Stock upon exercise of the Options; provided, however, that this undertaking shall not
require the Company to register under the Securities Act the Plan, any Option or any Common Stock issued or issuable pursuant to any such Option. If, after commercially reasonable efforts, the Company is unable to obtain from any such regulatory
commission or agency the authority that counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock upon
exercise of such Options unless and until such authority is obtained. An Option Holder shall not be eligible for the grant of an Option or the subsequent issuance of Common Stock pursuant to the Option if such grant or issuance would be in violation
of any applicable securities law. 
 (c) No Obligation to Notify or Minimize Taxes. The Company shall have no duty or
obligation to any holder of an Option to advise such holder as to the time or manner of exercising such Option. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration
of an Option or a possible period in which the Option may not be exercised. The Company has no duty or obligation to minimize the tax consequences of an Option to the holder of such Option. 

 

	7.	 Miscellaneous. 

(a) Use of Proceeds from Sales of Common Stock. Proceeds from the sale of shares of Common Stock pursuant to Options shall
constitute general funds of the Company 
 (b) Corporate Action Constituting Grant of Options. Corporate action constituting a
grant by the Company of an Option to any Option Holder shall be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Option is
communicated to, or actually received or accepted by, the Option Holder. 
 (c) Stockholder Rights. No Option Holder shall be
deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Option unless and until (i) such Option Holder has satisfied all requirements for exercise of the Option pursuant
to its terms, if applicable, and (ii) the issuance of the Common Stock subject to such Option has been entered into the books and records of the Company. 

  
 8 

 (d) No Employment or Other Service Rights. Nothing in the Plan, any Option
Agreement or other instrument executed thereunder or in connection with any Option granted pursuant thereto shall confer upon any Option Holder any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the
Option was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, or (ii) the service of a Director pursuant to the Bylaws of the
Company or an Affiliate, any other agreement with a Director and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be. 

(e) Investment Assurances. The Company may require an Option Holder, as a condition of exercising or acquiring Common Stock
under any Option, (i) to give written assurances satisfactory to the Company as to the Option Holder’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the
Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Option; and (ii) to give
written assurances satisfactory to the Company stating that the Option Holder is acquiring Common Stock subject to the Option for the Option Holder’s own account and not with any present intention of selling or otherwise distributing the Common
Stock. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (A) the issuance of the shares upon the exercise or acquisition of Common Stock under the Option has been registered under a then
currently effective registration statement under the Securities Act, or (B) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the Transfer of the Common Stock. 
 (f) Withholding Obligations. Unless
prohibited by the terms of an Option Agreement, the Company may, in its sole discretion, satisfy any federal, state or local tax withholding obligation relating to an Option by any of the following means or by a combination of such means:
(i) causing the Option Holder to tender a cash payment; (ii) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to the Option Holder in connection with the Option provided, however, that no
shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law (or such lesser amount as may be necessary to avoid classification of the Option as a liability for financial accounting purposes);
(iii) withholding payment from any amounts otherwise payable to the Option Holder; or (iv) by such other method as may be set forth in the Option Agreement. 

(g) Electronic Delivery. Any reference herein to a “written” agreement or document shall include any agreement or
document delivered electronically or posted on the Company’s intranet (or other shared electronic medium controlled by the Company to which the Option Holder has access). 

  
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 (h) Compliance with 409A. To the extent that the Board determines that any
Option granted hereunder is subject to Section 409A of the Code, the Option Agreement evidencing such Option shall incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(l) of the Code. To the
extent applicable, the Plan and Option Agreements shall be interpreted in accordance with Section 409A of the Code. Notwithstanding anything to the contrary in this Plan (and unless the Option Agreement specifically provides otherwise), if the
shares of Common Stock are publicly traded and an Option Holder holding an Option that constitutes “deferred compensation” under Section 409A of the Code is a “specified employee” for purposes of Section 409A of the
Code, no distribution or payment of any amount shall be made upon a “separation from service” before a date that is six (6) months following the date of such Option Holder’s “separation from service” (as defined in
Section 409A of the Code without regard to alternative definitions thereunder) or, if earlier, the date of the Option Holder’s death. 
  

	8.	 Adjustments upon Changes in Common Stock; Other Corporate Events. 

(a) Capitalization Adjustments. In the event of a Capitalization Adjustment, the Board shall appropriately and
proportionately adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), and (ii) the class(es) and number of securities and price per share of stock subject to outstanding Options. The
Board shall make such adjustments, and its determination shall be final, binding and conclusive. 
 (b) Dissolution or
Liquidation. Except as otherwise provided in the Option Agreement, in the event of a dissolution or liquidation of the Company, all outstanding Options shall terminate immediately prior to the completion of such dissolution or liquidation, and
the shares of Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Common Stock is providing Continuous
Service, provided, however, that the Board may, in its sole discretion, cause some or all Options to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Options have not previously expired or
terminated) before the dissolution or liquidation is completed but contingent on its completion. 
 (c) Corporate Transaction.
The following provisions shall apply to Options in the event of a Corporate Transaction unless otherwise provided in the instrument evidencing the Option or any other written agreement between the Company or any Affiliate and the Option Holder or
unless otherwise expressly provided by the Board at the time of grant of an Option. In the event of a Corporate Transaction, then, notwithstanding any other provision of the Plan, the Board shall take one or more of the following actions with
respect to Options, contingent upon the closing or completion of the Corporate Transaction: 
  

	 	(i)	 arrange for the surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) to assume or continue the Option or to substitute a similar stock award for the Option (including, but not limited to, an award to acquire the same consideration paid to the stockholders of the Company pursuant to
the Corporate Transaction); 

  

	 	(ii)	 arrange for the assignment of any reacquisition or repurchase rights held by the Company in respect of Common
Stock issued pursuant to the Option to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company); 

  
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	 	(iii)	 accelerate the vesting, in whole or in part, of the Option (and, if applicable, the time at which the Option
may be exercised) to a date prior to the effective time of such Corporate Transaction as the Board shall determine (or, if the Board shall not determine such a date, to the date that is five (5) days prior to the effective date of the Corporate
Transaction), with such Option terminating if not exercised (if applicable) at or prior to the effective time of the Corporate Transaction; 

  

	 	(iv)	 arrange for the lapse of any reacquisition or repurchase rights held by the Company with respect to the Option;

  

	 	(v)	 cancel or arrange for the cancellation of the Option, to the extent not vested or not exercised prior to the
effective time of the Corporate Transaction, in exchange for such cash consideration, if any, as the Board, in its sole discretion, may consider appropriate; or 

 

	 	(vi)	 make a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the
value of the property the Option Holder would have received upon the exercise of the Option, over (B) any exercise price payable by such Option Holder in connection with such exercise. 

(d) The Board need not take the same action or actions with respect to all Options or portions thereof or with respect to all Option
Holders. 
  

	9.	 Termination or Suspension of the Plan. 

(a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless terminated sooner by the Board, the Plan shall
automatically terminate on the day before the tenth (10th) anniversary of the earlier of (i) the date the Plan is adopted by the Board or (ii) the date the Plan is approved by the stockholders of the Company. No Options may be granted
under the Plan while the Plan is suspended or after it is terminated. 
 (b) No Impairment of Rights. Suspension or
termination of the Plan shall not impair rights and obligations under any Option granted while the Plan is in effect except with the written consent of the affected Option Holder. 

  
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	10.	 Effective Date of Plan. This Plan shall become effective on the Effective Date; provided that the
effective date of this amendment and restatement of the Plan is the Restatement Date. 

  

	11.	 Choice of Law. The law of the State of Delaware shall govern all questions concerning the
construction, validity and interpretation of this Plan, without regard to that state’s conflict of laws rules. 

  

	12.	 Definitions. As used in the Plan, the following definitions shall apply to the capitalized terms
indicated below: 

 “Affiliate” means, at the time of determination, any “parent” or
“subsidiary” of the Company as such terms are defined in Rule 405 promulgated under the Securities Act. The Board shall have the authority to determine the time or times at which “parent” or “subsidiary” status is
determined within the foregoing definition. 
 “Board” means the Board of Directors of the Company. 

“Capitalization Adjustment” means any change that is made in, or other events that occur with respect to, the Common
Stock subject to the Plan or subject to any Option after the Effective Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property
other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or any similar equity restructuring transaction, as that term is used in Statement of
Financial Accounting Standards No. 123 (revised). Notwithstanding the foregoing, the conversion of any convertible securities of the Company shall not be treated as a Capitalization Adjustment. 

“Cause” means: (i) misconduct by an Option Holder involving fraud, dishonesty or illegality; (ii) willful or
repeated failure by Option Holder to perform his or her duties as assigned by the Company; (iii) violation by an Option Holder of any policies of the Company, the effect of which is materially adverse to the Company or its Affiliates or their
operations, reputation or condition; (iv) a material breach by an Option Holder of a duty owed to the Company or its Affiliates; (v) an Option Holder’s willful misappropriation of material assets or opportunities of the Company or its
Affiliates; or (vi) an Option Holder is charged, convicted or pleads nolo contendere with any crime constituting a felony or a crime involving fraud or dishonesty. 

“Code” means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance
thereunder. 
 “Committee” means the Compensation Committee of the Board. 

“Common Stock” means the common stock of the Company. 

“Company” means Sunnova Energy International Inc., a Delaware corporation. 

  
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 “Consultant” shall mean any consultant or adviser engaged to provide
services to the Company or any Affiliate that qualifies as a consultant under the applicable rules of the Securities and Exchange Commission for registration of shares on a Form S-8 Registration Statement.

 “Continuous Service” means that the Option Holder’s service with the Company or an Affiliate, whether as an
Employee or Director, is not interrupted or terminated. A change in the capacity in which the Option Holder renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the Entity for which the Option Holder
renders such service, provided that there is no interruption or termination of the Option Holder’s service with the Company or an Affiliate, shall not terminate an Option Holder’s Continuous Service provided, however, if the Entity for
which an Option Holder is rendering service ceases to qualify as an Affiliate, as determined by the Board in its sole discretion, such Option Holder’s Continuous Service shall be considered to have terminated on the date such Entity ceases to
qualify as an Affiliate For example, a change in status from an Employee of the Company to an Employee of an Affiliate or to a Director shall not constitute an interruption of Continuous Service. To the extent permitted by law, the Board or the
chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer,
including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence shall be treated as Continuous Service for purposes of
vesting in an Option only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Option Holder, or as otherwise required by law. 

“Corporate Transaction” means the consummation, in a single transaction or in a series of related transactions, of any
one or more of the following events: 
 (i) a sale or other disposition of all or substantially all, as determined by the Board in its sole
discretion, of the consolidated assets of the Company and its Subsidiaries; 
 (ii) a sale or other disposition of at least fifty-one percent (51%) of the outstanding securities of the Company; 
 (iii) a merger, consolidation or
similar transaction following which the Company is not the surviving corporation; or 
 (iv) a merger, consolidation or similar transaction
following which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar
transaction into other property, whether in the form of securities, cash or otherwise. 
 “Covered Employee” shall
have the meaning provided in Section 162(m)(3) of the Code. 

  
 13 

 “Director” means a member of the Board. 

“Disability” means, with respect to an Option Holder, the inability of such Option Holder to engage in any
substantially gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve
(12) months, as provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and shall be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances. 

“Effective Date” means the original effective date of this Plan, which is the date this Plan is approved by the
Company’s stockholders. 
 “Employee” means any person employed by the Company or an Affiliate. However, service
solely as a Director, or payment of a fee for such services, shall not cause a Director to be considered an “Employee” for purposes of the Plan. 

“Entity” means a corporation, partnership, limited liability company or other entity. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a share of
Common Stock shall be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the date of determination, as reported in a source as the Board
deems reliable. 
 (ii) Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of
determination, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

(iii) In the absence of such markets for the Common Stock, the Fair Market Value shall be determined by the Board in good faith and in a manner
that complies with Sections 409A and 422 of the Code. 
 “Nonstatutory Stock Option” means an option that does not
qualify as an Incentive Stock Option in accordance with the Code. 
 “Officer” means a person who is an officer of
the Company within the meaning of Section 16 of the Exchange Act. 
 “Option” means an option to purchase shares
of Common Stock granted pursuant to the Plan. 

  
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 “Option Agreement” means a written agreement between the Company and
an Option Holder evidencing the terms and conditions of an Option grant Each Option Agreement shall be subject to the terms and conditions of the Plan. 

“Option Holder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person
who holds an outstanding Option. 
 “Plan” means this Sunnova Energy International Inc. 2013 Stock Option Plan, as
the same may be amended from time to time as provided for in the Plan. 
 “Restatement Date” means July 29,
2019. 
 “Rule 16b-3” means Rule
16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Transfer” means any sale, gift, pledge, encumbrance, mortgage, transfer or any other disposition of an Option (or any
interest therein) whatsoever, whether by operation of law or otherwise. 

  
 15

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