Document:

First Omnibus Amdt to Loan and Guaranty Agreement and Pledge and Security Agmt

 Exhibit 10.34 
 FIRST OMNIBUS AMENDMENT AND CONSENT 
 TO LOAN AND GUARANTY AGREEMENT AND

 PLEDGE AND SECURITY AGREEMENT 
 THIS FIRST OMNIBUS AMENDMENT AND CONSENT TO LOAN AND GUARANTY AGREEMENT AND PLEDGE AND SECURITY AGREEMENT (this “Amendment”) is dated as of March 21, 2011 and is entered into
by and among BrightSource Energy, Inc., a Delaware corporation (the “Borrower”), certain wholly-owned domestic subsidiaries of the Borrower listed on the signature pages hereto (the “Guarantors” and each a
“Guarantor”), and HERCULES TECHNOLOGY GROWTH CAPITAL, INC. and HERCULES TECHNOLOGY II, L.P., as Lender (collectively, “Lender”), and is made with reference to (i) that certain LOAN AND GUARANTY
AGREEMENT dated December 28, 2010 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Loan Agreement”) by and among the Borrower, the Guarantors and Lender and (ii) that certain
PLEDGE AND SECURITY AGREEMENT dated December 28, 2010 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Pledge and Security Agreement”) by and among the Borrower, each of the
Grantors party thereto and Hercules Technology Growth Capital, Inc., as collateral agent. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Loan Agreement and the Pledge and Security Agreement
after giving effect to this Amendment. 
 RECITALS 

WHEREAS, the Credit Parties have requested that Lender consent to the Borrower and certain of the other Loan Parties entering into
the Transaction (as defined below) and waiving certain provisions and requirements set forth in the Loan Documents with respect to the Transaction (as defined below) as provided for herein; 

WHEREAS, the Credit Parties also have requested that Lender agree to amend certain provisions of the Loan Agreement as provided
for herein; 
 WHEREAS, the Credit Parties also have requested that Lender agree to amend certain provisions of the
Pledge and Security Agreement as provided for herein; and 
 WHEREAS, subject to certain conditions, Lender is willing to
consent to the Transaction (as defined below), waive certain provisions and requirements set forth in the Loan Documents with respect to the Transaction (as defined below) and agree to such amendments relating to the Loan Agreement and the Pledge
and Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows: 

 SECTION I. CONSENT TO THE TRANSACTION AND WAIVER OF CERTAIN PROVISIONS AND REQUIREMENTS
SET FORTH IN THE LOAN DOCUMENTS WITH RESPECT TO THE TRANSACTION 
 1.1 Background Regarding the Transaction.
To finance the development, construction, ownership and operation of certain solar thermal electric generating plants and certain common facilities serving such plans (hereinafter, the “Ivanpah Facilities”), Borrower and certain of
its Affiliates (the “Borrower Parties”) desire to enter into the transactions and agreements contemplated by (i) that certain Common Agreement to be entered into by and among Solar Partners I, LLC (“Solar I”),
the U.S. Department of Energy (“DOE”) and PNC Bank, National Association, doing business as Midland Loan Services, a division of PNC Bank, National Association (the “Administrative Agent”), (ii) that certain
Common Agreement to be entered into by and among Solar Partners II, LLC (“Solar II”), DOE and the Administrative Agent, (iii) that certain Common Agreement to be entered into by and among Solar Partners VIII, LLC
(“Solar VIII”), DOE and the Administrative Agent, (iv) that certain Ivanpah I Equity Participation Agreement, to be entered into by and among Borrower, BrightSource Ivanpah Holdings, LLC (“Sponsor Investor”),
an Affiliate of NRG Energy, Inc. (“NRG Investor”), and an Affiliate of Google, Inc. (“Google Investor”), (v) that certain Ivanpah II Equity Participation Agreement, to be entered into by and among Borrower,
Sponsor Investor, NRG Investor and Google Investor, (vi) that certain Ivanpah III Equity Participation Agreement, to be entered into by and among Borrower, Sponsor Investor, NRG Investor and Google Investor, (vii) that certain Equity
Funding Agreement, to be entered into by and among Borrower, Sponsor Investor, NRG Solar LLC (“NRG Solar”), an Affiliate of Google, Inc. (“Google Investor Equity”), Solar I, DOE and the Administrative Agent,
(viii) that certain Equity Funding Agreement, to be entered into by and among Borrower, Sponsor Investor, NRG Solar, Google Investor Equity, Solar II, DOE and the Administrative Agent, (ix) that certain Equity Funding Agreement, to be
entered into by and among Borrower, Sponsor Investor, NRG Solar, Google Investor Equity, Solar VIII, DOE and the Administrative Agent; and (x) that certain Limited Liability Company Agreement of Ivanpah Master Holdings, LLC among Sponsor
Investor, NRG Investor and Google Investor (the current and future obligations of the Borrower Parties under the transactions and agreements contemplated by such agreements, the “Transaction”). 

1.2 Consent to the Transaction. Lender hereby consents, acknowledges, and agrees, in all respects, to the entry of the
Borrower Parties into the Transaction and the performance of the Borrower Parties’ obligations thereunder, and hereby waives, for all purposes with respect to the Transaction, the following provisions of the Loan Agreement to the extent such
provisions prohibit or conflict with the entry of the Borrower Parties into the Transaction and the performance of the Borrower Parties’ obligations thereunder: (i) Section 7.1 (Indebtedness); provided, however, that such carve-out
shall not be applicable to Indebtedness for borrowed money except Indebtedness for borrowed money arising under that certain Loan Agreement between BrightSource Ivanpah Fundings, LLC and BDC Ivanpah LLC, to be entered into concurrently with or
promptly following the Transaction, representing a loan by BDC Ivanpah LLC to BrightSource Ivanpah Fundings, LLC, not to exceed a principal amount of $20,000,000 (hereinafter, the “Bechtel Loan”); Section 7.2 (Liens); provided,
however, that such carve-out shall not be applicable to Liens incurred in connection with Indebtedness for borrowed money except Liens incurred in connection with the Bechtel Loan and that no such Liens shall be granted on any asset of the Borrower
(except Permitted Liens); Section 7.5 (Restrictions on 

  
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Distributions); Section 7.6 (Investments); and Section 7.13 (Amendments or Waivers of Organizational Documents and Material Project Documents). Also, for the avoidance of doubt, Lender
acknowledges and agrees that each of Ivanpah Master Holdings, LLC, Ivanpah Project I Holdings, LLC, Ivanpah Project II Holdings, LLC, Ivanpah Project III Holdings, LLC, Solar I, Solar II, and Solar VIII shall not be considered an Affiliate or a
Subsidiary of Borrower for purposes of compliance with the covenants set forth in the Loan Agreement. The parties hereto further acknowledge and agree that this Amendment satisfies all of the conditions of the Loan Agreement with respect to consents
and waivers for the Transaction. 
 SECTION II. AMENDMENTS TO LOAN AGREEMENT 

 

	2.1	Amendments to Section 1.1. 

 A. New Defined Terms. Section 1.1 of the Loan Agreement is hereby amended by adding the following definitions in proper alphabetical sequence: 

“BSAH” means BrightSource Asset Holdings, LLC, a Delaware limited liability company and a wholly-owned
Subsidiary of the Borrower. 
 “BSIF” means BrightSource Ivanpah Fundings, LLC, a Delaware
limited liability company and a wholly-owned Subsidiary of BSAH. 
 “BSIH” means BrightSource
Ivanpah Holdings, LLC, a Delaware limited liability company and a wholly-owned Subsidiary of BSIF. 

“Excluded Subsidiaries” means, collectively, BSIF and BSIH. 

“First Amendment” means that certain First Omnibus Amendment and Consent to Loan and Guaranty Agreement
and Pledge and Security Agreement dated as of March 21, 2011 among the Borrower, the Guarantors listed on the signature pages thereto and Lender. 
 “First Amendment Effective Date” has the meaning given to such term in the First Amendment. 
 B. Amendments to Defined Terms. Section 1.1 of the Loan Agreement is hereby amended as follows: 
 1. The definition of “Guarantor” is hereby amended to read in its entirety as follows: 
 “Guarantor” means each of BSCM, BSAH, and each Person that executes a Joinder Agreement and/or Pledge Supplement (as defined in the Collateral Documents) subsequent to the Discharge in
full of the Senior Indebtedness pursuant to Section 6.8; provided, however, that notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, BSAH shall not be required to execute and deliver a
Pledge Supplement to Lender. 

  
 3 

 2. Clause (x) of the definition of “Permitted Transfers” is
hereby amended to read in its entirety as follows: 
 (x) prior to the Discharge of the Senior Indebtedness,
transfers of the existing Equity Interests of any Project Company or any Project to to-be-formed wholly-owned, direct or indirect Subsidiaries of the Borrower so long as such transfer is done in connection with any anticipated sale of Equity
Interests followed by, on the closing of such sale, the mandatory prepayment on terms and conditions set forth in Section 2.8. 
  

	2.2	Amendments to Section 4.1. 

 Section 4.1 of the Loan Agreement is amended by changing the word “Each” at the beginning of the first sentence thereof and replacing it with the phrase “As of the First Amendment
Effective Date, each”. 
  

	2.3	Amendments to Section 4.2. 

 Section 4.2 of the Loan Agreement is amended by (i) changing the phrase in the third line thereof from “as of the date hereof” to “as of the First Amendment Effective Date”,
and (ii) changing the phrase in the last line thereof from “as of the Closing Date” to “as of the First Amendment Effective Date”. 
  

	2.4	Amendment to Section 4.12(b). 

 Section 4.12(b) of the Loan Agreement is amended by changing the phrase in the first line thereof from “As of the Closing Date” to “as of the First Amendment Effective Date”.

  

	2.5	Amendment to Section 6.8. 

 The second sentence of Section 6.8 of the Loan Agreement is hereby deleted and replaced in its entirety with the following: 

At all times after the Discharge of the Senior Indebtedness, Borrower (i) shall promptly (within 20 days after such
discharge) cause all then existing Domestic Subsidiaries (other than any Dormant Subsidiary, any Excluded Subsidiary or BSAH) to execute and deliver to Lender a Pledge Supplement, (ii) shall promptly (within 20 days after such discharge) cause
all then existing Domestic Subsidiaries (other than any Dormant Subsidiary or any Excluded Subsidiary) to execute and deliver to Lender a Joinder Agreement to become a Guarantor hereunder, and (iii) notify Lender of each Subsidiary formed
subsequent to the Discharge in full of the Senior Indebtedness, and promptly (within 20 days after the formation thereof) cause any such newly formed Domestic Subsidiary (other than a Dormant Subsidiary) to execute and deliver to Lender a Joinder
Agreement to become a Guarantor hereunder and a Pledge Supplement. In furtherance of the foregoing, Borrower hereby covenants that BSAH shall not hold any other assets other than the Equity Interests in BSIF unless BSAH promptly executes and
delivers to Lender a Pledge Supplement granting to Lender a Lien on such other assets. 

  
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	2.6	Amendment to Section 7.5. 

 Section 7.5 is hereby amended by adding the phrase “(other than any Excluded Subsidiary)” immediately after the phrase “nor shall it permit any of its Subsidiaries” appearing in
the first and second lines of this provision. 
  

	2.7	Amendment to Section 7.7. 

 Section 7.7 is hereby amended by changing the reference from “at least sixty percent (60%)” appearing in the fifth line thereof to “at least one hundred percent (100%)”.

  

	2.8	Addition of New Section 7.16. 

 A new Section 7.16 is hereby added to the Loan Agreement immediately after Section 7.15 of the Loan Agreement to read in its entirety as follows: 

7.16 Restrictions with Respect to BSAH and the Excluded Subsidiaries. 

Borrower shall not (a) permit BSAH or either of the Excluded Subsidiaries to (i) create, incur, assume or
guaranty, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness or (ii) create, incur, assume or permit to exist any Lien on or with respect to any such Subsidiary’s property or assets of any kind, or
(b) create, incur, assume or permit to exist any Lien on or with respect to the Equity Interests of BSAH or either of the Excluded Subsidiaries, in each case other than in favor of the Lender or in connection with the on-going development of
the Projects (including, without limitation, the loan from Bechtel Corporation or one of its affiliates to BSIF). 
  

	2.9	Amendment to Schedules 4.1, 4.2, 4.12(b), 7.5 and 7.11. 

 Schedules 4.2, 4.12(b), 7.5 and 7.11 of the Loan Agreement are hereby amended to read in their entirety as set forth on Attachment 1 hereto. 

SECTION III. AMENDMENTS TO PLEDGE AND SECURITY AGREEMENT 
  

	3.1	Amendment to Section 1.1. 

 Section 1.1 of the Pledge and Security Agreement is hereby amended by adding the following definition in appropriate alphabetical sequence: 

“Excluded Equity Interests” shall mean the Equity Interests of BSAH, BSIF and BSIH. 

 

	3.2	Amendment to Section 2.1. 

 Section 2.1 of the Pledge and Security Agreement is hereby amended by deleting the existing clause (i) and replacing it with the following: 

(i) Investment Related Property (including, without limitation, Deposit Accounts but specifically excluding Excluded
Equity Interests); 

  
 5 

	3.3	Amendments to Schedules 5.1, 5.2 and 5.4. 

 Schedules 5.1, 5.2 and 5.4 of the Pledge and Security Agreement are hereby amended to read in their entirety as set forth on Attachment 2 hereto. 

SECTION IV. CONDITIONS TO EFFECTIVENESS 
 This Amendment shall become effective as of the date hereof only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as
the “First Amendment Effective Date”): 
 A. Execution. Lender shall have received a counterpart
signature page of this Amendment duly executed by each of the Credit Parties. 
 B. Discharge of Senior Indebtedness; Release
of Liens Held by Senior Lenders Collateral Agent. The Senior Indebtedness shall have been discharged and the all Liens held by the Senior Lenders Collateral Agent with respect to the Senior Indebtedness shall have been released. 

C. Fees. Lender shall have received all fees and other amounts due and payable pursuant to Section 12.11 of the Loan
Agreement on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or other payment of all out of pocket expenses required to be reimbursed or paid by the Borrower thereunder or under any other Loan
Document. 
 D. Other Documents. Lender shall have received such other documents, information or agreements regarding the
Credit Parties as Lender may reasonably request. 
 SECTION V. REPRESENTATIONS AND WARRANTIES 

In order to induce Lender to enter into this Amendment and to amend the Loan Agreement in the manner provided herein, each Credit Party
which is a party hereto represents and warrants to each Lender that the following statements are true and correct in all material respects; provided that, in each case, such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof: 
 A. Corporate Power and
Authority. Each Credit Party, which is party hereto, has all requisite power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Loan Agreement as amended by this
Amendment (the “Amended Loan Agreement”), the Pledge and Security Agreement as amended by this Amendment (the “Amended Pledge and Security Agreement” and, together with the Amended Loan Agreement, the
“Amended Agreements”) and the other Loan Documents. 
 B. Authorization of Agreements. The execution and
delivery of this Amendment and the performance of the Amended Agreements and the other Loan Documents have been duly authorized by all necessary action on the part of each Credit Party. 

  
 6 

 C. No Conflict. The execution and delivery by each Credit Party of this Amendment and
the performance by each Credit Party of the Amended Agreements and the other Loan Documents do not and will not (i) violate (A) any provision of any law, statute, rule or regulation, or of the certificate or articles of incorporation or
partnership agreement, other constitutive documents or by-laws of the Borrower or any Credit Party or (B) any applicable order of any court or any rule, regulation or order of any Governmental Authority, (ii) be in conflict with, result in
a breach of or constitute (alone or with notice or lapse of time or both) a default under any Contractual Obligation of the applicable Credit Party, where any such conflict, violation, breach or default referred to in clause (i) or (ii) of
this Section V.C., individually or in the aggregate could reasonably be expected to have a Material Adverse Effect, (iii) except as permitted under the Amended Agreements, result in or require the creation or imposition of any Lien upon any of
the properties or assets of each Credit Party (other than any Liens created under any of the Loan Documents in favor of Administrative Agent on behalf of Lenders), or (iv) require any approval of stockholders or partners or any approval or
consent of any Person under any Contractual Obligation of each Credit Party, except for such approvals or consents which will be obtained on or before the First Amendment Effective Date and except for any such approvals or consents the failure of
which to obtain will not have a Material Adverse Effect. 
 D. Governmental Consents. No action, consent or approval of,
registration or filing with or any other action by any Governmental Authority is or will be required in connection with the execution and delivery by each Credit Party of this Amendment and the performance by the Borrower of the Amended Agreement
and the other Loan Documents, except for such actions, consents and approvals the failure to obtain or make which could not reasonably be expected to result in a Material Adverse Effect or which have been obtained and are in full force and effect.

 E. Binding Obligation. This Amendment and the Amended Agreements have been duly executed and delivered by each of the
Credit Parties party thereto and each constitutes a legal, valid and binding obligation of such Credit Party to the extent a party thereto, enforceable against such Credit Party in accordance with its terms, except as enforceability may be limited
by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally and except as enforceability may be limited by general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law). 
 F. Incorporation of Representations and Warranties from Loan
Agreement. The representations and warranties contained in Section 4 of the Amended Loan Agreement and Section 5 of the Amended Pledge and Security Agreement are and will be true and correct in all material respects on and as of the
First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material
respects on and as of such earlier date. 
 G. Absence of Default. No event has occurred and is continuing or will result
from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Default. 

  
 7 

 SECTION VI. ACKNOWLEDGMENT AND CONSENT 

Each Guarantor that is to remain a Guarantor hereunder after the effectiveness of this Amendment hereby acknowledges that it has reviewed
the terms and provisions of the Loan Amendment, the Pledge and Security Agreement and this Amendment and consents to the amendment of the Loan Agreement and the Pledge and Security Agreement effected pursuant to this Amendment. Each Guarantor that
is to remain a Guarantor hereunder after the effectiveness of this Amendment hereby confirms that each Loan Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case
may be, to the fullest extent possible in accordance with the Loan Documents the payment and performance of all “Obligations” under each of the Loan Documents to which is a party (in each case as such terms are defined in the applicable
Loan Document). 
 Each Guarantor that is to remain a Guarantor after the effectiveness of this Amendment acknowledges and
agrees that any of the Loan Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution
or effectiveness of this Amendment. Each Guarantor that is to remain a Guarantor after the effectiveness of this Amendment represents and warrants that all representations and warranties contained in the Amended Agreements and the Loan Documents to
which it is a party or otherwise bound are true and correct in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date. 
 Each Guarantor that is to remain a Guarantor after the effectiveness of this Amendment acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment,
such Guarantor is not required by the terms of the Loan Agreement or any other Loan Document to consent to the amendments to the Loan Agreement effected pursuant to this Amendment and (ii) nothing in the Loan Agreement, this Amendment or any
other Loan Document shall be deemed to require the consent of such Guarantor to any future amendments to the Loan Agreement. 
 SECTION VII.
MISCELLANEOUS 
 A. Reference to and Effect on the Loan Agreement and the Other Loan Documents. 

(i) On and after the First Amendment Effective Date, each reference in the Loan Agreement to “this Amendment”,
“hereunder”, “hereof”, “herein” or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to the “Loan Agreement”, “thereunder”, “thereof” or
words of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement as amended by this Amendment. 
 (ii) On and after the First Amendment Effective Date, each reference in the Pledge and Security Agreement to “this Amendment”, “hereunder”, “hereof”,

  
 8 

 
“herein” or words of like import referring to the Pledge and Security Agreement, and each reference in the other Loan Documents to the “Pledge and Security Agreement”,
“thereunder”, “thereof” or words of like import referring to the Pledge and Security Agreement shall mean and be a reference to the Pledge and Security Agreement as amended by this Amendment. 

(iii) This Amendment is a “Loan Document” under and as defined in the Loan Agreement and shall (unless otherwise
expressly indicated herein) be construed, administered and applied in accordance with the terms and provisions thereof. 
 (iv) Except as specifically amended by this Amendment, the Loan Agreement, the Pledge and Security Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and
confirmed. 
 (v) The execution, delivery and performance of this Amendment shall not constitute a waiver of any
provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Loan Agreement, the Pledge and Security Agreement or any of the other Loan Documents. 

B. Headings. Section and Subsection headings in this Amendment are included herein for convenience of reference only and
shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 
 C. Applicable
Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES
THEREOF. 
 D. Counterparts. This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple
separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
 [Remainder of this page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered
by their respective officers thereunto duly authorized as of the date first written above. 
  

											
	BORROWER:	 		 	BRIGHTSOURCE ENERGY, INC.
					
		 		 		 	By:	 	/s/ Jack Jenkins-Stark
		 		 		 	Name:	 	Jack Jenkins-Stark
		 		 		 	Title:	 	Chief Financial Officer
			
	REMAINING GUARANTOR :	 		 	BRIGHTSOURCE CONSTRUCTION MANAGEMENT, INC.
					
		 		 		 	By:	 	/s/ Jack Jenkins-Stark
		 		 		 	Name:	 	Jack Jenkins-Stark
		 		 		 	Title:	 	Chief Financial Officer
			
	DEPARTING GUARANTORS:	 		 	SOLAR PARTNERS I, LLC
			
		 		 	By: BrightSource Energy, Inc., as Managing Member
					
		 		 		 	By:	 	/s/ Jack Jenkins-Stark
		 		 		 		 	Name:	 	Jack Jenkins-Stark
		 		 		 		 	Title:	 	Chief Financial Officer
			
		 		 	SOLAR PARTNERS II, LLC
			
		 		 	By: BrightSource Energy, Inc., as Managing Member
					
		 		 		 	By:	 	/s/ Jack Jenkins-Stark
		 		 		 		 	Name:	 	Jack Jenkins-Stark
		 		 		 		 	Title:	 	Chief Financial Officer

 [SIGNATURE PAGE TO
FIRST OMNIBUS AMENDMENT AND CONSENT TO 
 LOAN AND GUARANTY AGREEMENT AND PLEDGE AND SECURITY AGREEMENT] 

 
			
	SOLAR PARTNERS VIII, LLC
	
	By: BrightSource Energy, Inc., as Managing Member
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer
	
	BRIGHTSOURCE IVANPAH FUNDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer
	
	BRIGHTSOURCE IVANPAH HOLDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer
	
	IVANPAH MASTER HOLDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer

 [SIGNATURE
PAGE TO FIRST OMNIBUS AMENDMENT AND CONSENT TO 
 LOAN AND GUARANTY AGREEMENT AND PLEDGE AND SECURITY AGREEMENT] 

 
			
	IVANPAH PROJECT I HOLDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer
	
	IVANPAH PROJECT II HOLDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer
	
	IVANPAH PROJECT III HOLDINGS, LLC, as Guarantor
		
	By:	 	/s/ Jack Jenkins-Stark
	Name:	 	Jack Jenkins-Stark
	Title:	 	Chief Financial Officer

 [SIGNATURE
PAGE TO FIRST OMNIBUS AMENDMENT AND CONSENT TO 
 LOAN AND GUARANTY AGREEMENT AND PLEDGE AND SECURITY AGREEMENT] 

 LENDERS: 

					
	 HERCULES TECHNOLOGY
 GROWTH CAPITAL, INC.

		
	By:	 	/s/ K. Nicholas Martitsch
		 	Name:	 	K. Nicholas Martitsch
		 	Title:	 	Associate General Counsel
	
	 HERCULES TECHNOLOGY II, L.P., a
 Delaware limited partnership

	
	 By: Hercules Technology SBIC
 Management, LLC, its General Partner

	
	 By: Hercules Technology Growth Capital,
 Inc., its Manager

		
	By:	 	/s/ K. Nicholas Martitsch
		 	Name:	 	K. Nicholas Martitsch
		 	Title:	 	Associate General Counsel

 [SIGNATURE
PAGE TO FIRST OMNIBUS AMENDMENT AND CONSENT TO 
 LOAN AND GUARANTY AGREEMENT AND PLEDGE AND SECURITY AGREEMENT] 

 ATTACHMENT 1 

SCHEDULE 4.1 TO 

LOAN AND GUARANTY AGREEMENT 

JURISDICTIONS OF ORGANIZATION AND QUALIFICATION 
  

									
	 BrightSource Energy, Inc.

Entity Name
	  	 State/Country

of

Incorporation
	  	 Date

of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

					
	BrightSource Energy, Inc. (“BSE”)	  	Delaware	  	Aug 17, 2006	  	N/A	  	 California
 Arizona
 Nevada

					
	BrightSource Asset Holdings, LLC (“BSAH”)	  	Delaware	  	Feb 23, 2011	  	BSE-100%	  	—  
					
	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Israel	  	May 02, 2004	  	BSE-100%	  	—  
					
	BrightSource Ivanpah Fundings, LLC (“BSIF”)	  	Delaware	  	Feb 23, 2011	  	BSAH-100%	  	—  
					
	BrightSource Ivanpah Holdings, LLC	  	Delaware	  	Feb 23, 2011	  	BSIF-100%	  	—  
					
	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Israel	  	Sep 01, 2010	  	BSE-100%	  	—  
					
	BrightSource Construction Management, Inc. (“BSCM”)	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	 California
 Nevada

					
	BrightSource Energy Australia Pty Ltd	  	Australia	  	Feb 3, 2010	  	BSE-100%	  	—  
					
	Solar Partners III, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners IV, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners V, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners VI, LLC	  	Delaware	  	Mar 26, 2007	  	BSE-100%	  	California
					
	Solar Partners VII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners IX, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners X, LLC	  	Delaware	  	Apr 09,2007	  	BSE-100%	  	California
					
	Solar Partners XI, LLC	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners XII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

					
	Solar Partners XIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
					
	Solar Partners XIV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

					
	Solar Partners XV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 New
 Mexico

									
	 BrightSource Energy, Inc.

Entity Name
	  	 State/Country

of

Incorporation
	  	 Date

of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

	Solar Partners XVII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XIX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Solar Partners XXIII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Rebel Hidden Valley, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Nevada
					
	Wildcat Abrams, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Jojoba, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Harcuvar South, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Pinal West, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat White Hills, LLC	  	Delaware	  	Jan 26, 2009	  	BSE-100%	  	Arizona

  
 SCHEDULE 4.1-2

 SCHEDULE 4.2 TO 
 LOAN AND GUARANTY AGREEMENT 
 EQUITY INTERESTS AND OWNERSHIP 

Part I 
  

									
	 BrightSource Energy, Inc.

(“BSE”) Entity Name
	  	 State/Country
of
Incorporation
	  	 Date

of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

	BrightSource Asset Holdings, LLC (“BSAH”)	  	Delaware	  	Feb 23, 2011	  	BSE-100%	  	—  
					
	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Israel	  	May 02, 2004	  	BSE-100%	  	—  
					
	BrightSource Ivanpah Fundings, LLC (“BSIF”)	  	Delaware	  	Feb 23, 2011	  	BSAH-100%	  	—  
					
	BrightSource Ivanpah Holdings, LLC	  	Delaware	  	Feb 23, 2011	  	BSIF-100%	  	—  
					
	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Israel	  	Sep 01, 2010	  	BSE-100%	  	—  
					
	BrightSource Construction Management, Inc. (“BSCM”)	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	 California
 Nevada

					
	BrightSource Energy Australia Pty Ltd	  	Australia	  	Feb 3, 2010	  	BSE-100%	  	—  
					
	Solar Partners III, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners IV, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners V, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners VI, LLC	  	Delaware	  	Mar 26, 2007	  	BSE-100%	  	California
					
	Solar Partners VII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners IX, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners X, LLC	  	Delaware	  	Apr 09,2007	  	BSE-100%	  	California
					
	Solar Partners XI, LLC	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners XII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

					
	Solar Partners XIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
					
	Solar Partners XIV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

					
	Solar Partners XV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
					
	Solar Partners XVII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XIX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California

									
	 BrightSource Energy, Inc.

(“BSE”) Entity Name
	  	 State/Country
of
Incorporation
	  	 Date

of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

	Solar Partners XX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Solar Partners XXIII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Rebel Hidden Valley, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Nevada
					
	Wildcat Abrams, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Jojoba, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Harcuvar South, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Pinal West, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat White Hills, LLC	  	Delaware	  	Jan 26, 2009	  	BSE-100%	  	Arizona

 Part II 

 

	 	1.	As of the Closing Date, the options outstanding for current employees are 8,746,833 shares of BSE common stock. As of the Closing Date, total options outstanding
including consultants, directors and others is 9,082,821 shares of BSE common stock. 

  

	 	2.	As of the Closing Date, Certain investors currently have warrants to purchase a total of 60,387 shares of BSE Series A Preferred Stock outstanding.

  
 SCHEDULE 4.2-2

 SCHEDULE 4.12(b) TO 
 LOAN AND GUARANTY AGREEMENT 
 REAL ESTATE ASSETS 

None. 

 SCHEDULE 7.11 TO 
 LOAN AND GUARANTY AGREEMENT 
 CERTAIN AFFILIATE TRANSACTIONS 

Borrower has entered into two agreements with Alstom Power Inc. (“Alstom”), a stockholder of Borrower. The first agreement is a Preferred
Turbine Supplier Agreement dated as of August 31, 2010 (“PSA”). Pursuant to the terms of the PSA, Borrower will designate Alstom as the preferred supplier of the next 8 steam turbine electric generator sets (or 2,000 MW, whichever
comes first) supplied to certain Borrower facilities (excluding the Projects). The second agreement is a Preferred Partner Agreement dated as of August 31, 2010 (the “PPA”). Pursuant to the terms of the PPA, the parties will work
together to develop project opportunities in certain countries. Borrower will designate Alstom as its preferred provider of EPC services for approved project opportunities, and Alstom will designate Borrower as its preferred provider of the solar
field for such opportunities. 

 ATTACHMENT 2 

SCHEDULE 5.1 
 TO
PLEDGE AND SECURITY AGREEMENT 
 GENERAL INFORMATION 
  

	(A)	Full Legal Name, Type of Organization, Jurisdiction of Organization, Chief Executive Office/Sole Place of Business (or Residence if Grantor is a Natural Person) and
Organizational Identification Number of each Grantor: 

  

									
	 Full Legal
 Name
	  	 Type of

Organization
	  	 Jurisdiction of

Organization
	  	 Chief Executive

Office/Sole Place

of Business (or

Residence if

Grantor is a Natural

Person)
	  	 Organization I.D. #

	BrightSource Energy, Inc. (“BSE”)	  	Corporation	  	Delaware	  	 1999 Harrison
 Street, Suite
2150,
 Oakland, CA

94612
	  	76-0836010
					
	BrightSource Construction Management, Inc.	  	Corporation	  	Delaware	  	 1999 Harrison
 Street, Suite
2150,
 Oakland, CA

94612
	  	37-1553368
					
	BrightSource Asset Holdings, LLC	  	Limited Liability Company	  	Delaware	  	 1999 Harrison
 Street, Suite
2150,
 Oakland, CA

94612
	  	Uses BSE’s Organizational I.D. #

  

	(B)	Other Names (including any Trade Name or Fictitious Business Name) under which each Grantor currently conducts business: 

 

			
	 Full Legal Name
	  	 Trade Name or Fictitious Business Name

	 N/A
	  	

	(C)	Changes in Name, Jurisdiction of Organization, Chief Executive Office or Sole Place of Business (or Principal Residence if Grantor is a Natural Person) and Corporate
Structure within past five (5) years: 

  

					
	 Grantor
	  	 Date of Change
	  	 Description of Change

	BrightSource Energy, Inc.	  	August 17, 2006	  	Change in name from “Luz II, LLC” to “Luz II, Inc.”
			
	BrightSource Energy, Inc.	  	August 17, 2006	  	Conversion from LLC to corporation
			
	BrightSource Energy, Inc.	  	December 19, 2006	  	Change in name from “Luz II, Inc.” to “Bright Source Energy, Inc.”
			
	BrightSource Energy, Inc.	  	May 15, 2007	  	Change in name from “Bright Source Energy, Inc.” to “BrightSource Energy, Inc.”
			
	BrightSource Construction Management, Inc.	  	February 15, 2008	  	Change in name from “BrightSource Engineering & Construction, Inc.” to “BrightSource Construction Management, Inc.”

 

	(D)	Agreements pursuant to which any Grantor is bound as debtor under a security agreement within past five (5) years: 

 

			
	 Grantor
	  	 Description of Agreement

	 None.
	  	

  
 SCHEDULE 5.1-2

 SCHEDULE 5.2 
 TO PLEDGE AND SECURITY AGREEMENT 
 COLLATERAL IDENTIFICATION 

I. INVESTMENT RELATED PROPERTY 
  

	(A)	Pledged Stock: 

  

																	
	 Grantor
	  	 Stock Issuer
	  	 Class of

Stock
	  	 Certificated

(Y/N)
	  	 Stock

Certificate

No.
	  	 Par

Value
	  	No. of
Pledged
Stock	  	Percentage
of
Outstanding
Equity
Pledged	 
								
	BrightSource Energy, Inc.	  	BrightSource Construction Management, Inc.	  	Common	  	Y	  	CS-1	  	$.001 per share	  	10,000	  	 	100	% 
								
	BrightSource Energy, Inc.	  	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Ordinary Shares	  	Y	  	No. 2	  	No par	  	66	  	 	66	% 
								
	BrightSource Energy, Inc.	  	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Ordinary Shares	  	Y	  	No. 2	  	No par	  	66	  	 	66	% 
								
	BrightSource Energy, Inc.	  	BrightSource Energy Australia Pty Ltd1	  	Ordinary Shares	  	Y	  	No. 1	  	N/A	  	66	  	 	66	% 

 Pledged LLC Interests:

  

													
	 Grantor
	  	 Limited

Liability

Company
	  	Certificated
(Y/N)	  	Certificate No.
(if any)	  	No. of Pledged
Units	  	Percentage 
of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged	 
						
	BrightSource Energy, Inc.	  	BrightSource Asset Holdings, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners IV, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners V, LLC	  	N	  	N/A	  	N/A	  	 	100	% 

 

	1	Shares will be pledged, but no lien shall be perfected until such time as BrightSource Energy Australia Pty Ltd has assets of material value to BrightSource Energy,
Inc. on a consolidated basis. 

													
	 Grantor
	  	 Limited

Liability

Company
	  	Certificated
(Y/N)	  	Certificate No.
(if any)	  	No. of Pledged
Units	  	Percentage 
of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged	 
						
	BrightSource Energy, Inc.	  	Solar Partners VI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners VII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners IX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners X, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIV, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XV, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Rebel Hidden Valley, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Abrams, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Jojoba, LLC	  	N	  	N/A	  	N/A	  	 	100	% 

  
 SCHEDULE 5.2-2

																			
	 Grantor
	  	 Limited

Liability

Company
	  	Certificated
(Y/N)	 	  	Certificate No.
(if
any)	 	  	No. of 
Pledged
Units	 	  	Percentage 
of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged	 
						
	BrightSource Energy, Inc.	  	Wildcat Harcuvar South, LLC	  	 	N	  	  	 	N/A	  	  	 	N/A	  	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Pinal West, LLC	  	 	N	  	  	 	N/A	  	  	 	N/A	  	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	 	N	  	  	 	N/A	  	  	 	N/A	  	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat White Hills, LLC	  	 	N	  	  	 	N/A	  	  	 	N/A	  	  	 	100	% 
	
	 Pledged Partnership Interests:
	   

	 Grantor
	  	 Partnership
	  	Type of
Partnership
Interests (e.g.,
general or
limited)	 	  	Certificated
(Y/N)	 	  	Certificate No.
(if
any)	 	  	Percentage of
Outstanding
Partnership
Interests of the
Partnership
Pledged	 
	 N/A
	  		  				  				  				  			
	
	 Trust Interests or other Equity Interests not listed above:
	   

	 Grantor
	  	 Trust
	  	Class of 
Trust
Interests	 	  	Certificated
(Y/N)	 	  	Certificate No.
(if
any)	 	  	Percentage of
Outstanding
Trust Interests
of the Trust
Pledged	 
						
	 N/A
	  		  				  				  				  			

  
 SCHEDULE 5.2-3

 Pledged Debt: 

 

															
	 (2) Pledged
 Debt
	  	 Lender
	  	 Borrower
	  	Total
Principal
Amount	 	 	Total Outstanding
Principal as of
February 28,
2011*	 	 Issue Date
	  	 Maturity

							
	 Promissory Note
	  	BSE	  	BSII	  	 	[*]  	  	 	[*]  	 	January 1, 2011	  	December 31, 2012
							
	 Promissory Note
	  	BSE	  	BSOI	  	 	[*]  	  	 	[*]  	 	January 1, 2011	  	December 31, 2012
							
	 Promissory Note
	  	BSE	  	SP I	  	 	[*]  	  	 	[*]  	 	December 17, 2010	  	December 31, 2011 or date of Ivanpah Project Financing
							
	 Promissory Note
	  	BSE	  	SP II	  	 	[*]  	  	 	[*]  	 	December 17, 2010	  	December 31, 2011 or date of Ivanpah Project Financing
							
	 Promissory Note
	  	BSE	  	SP VIII	  	 	[*]  	  	 	[*]  	 	March 11, 2008	  	March 31, 2011
							
	 Loan Agreement
	  	BSE	  	BSCM	  	 	[*]  	  	 	[*]  	 	December 20, 2010	  	No Stated Maturity Date
							
	 Loan Agreement
	  	BSE	  	SP I	  	 	[*]  	  	 	[*]  	 	September 22, 2010	  	September 22, 2011
							
	 Loan Agreement
	  	BSE	  	SP II	  	 	[*]  	  	 	[*]  	 	September 22, 2010	  	September 22, 2011
							
	 Loan Agreement
	  	BSE	  	SP VIII	  	 	[*]  	  	 	[*]  	 	September 22, 2010	  	September 22, 2011
	  

*  Unaudited and subject to change.

 

	 (3) Securities
 Accounts
	  	 Account

Holder
	  	 Investment

Manager
	  	Investment
Amount	 	 	Investment
Type	 	 Account

Number
	  	 Balance

as of Date

							
		  	 BSE
	  	Wells Fargo Capital	  	$	9,503,297	  	 	U.S
Treasury
MMF	 	 [*]
	  	December 17, 2010
							
		  	 BSE
	  	SVB Asset Management	  	$	2,814,177	  	 	U.S
Treasury
MMF	 	 [*]
	  	December 17, 2010
							
	 (4) Deposit
 Accounts
	  	 	  	 Banking

Organization
	  	Account
Balance	 	 	Account
Type	 	 Account

Number
	  	 Balance

as of Date

							
		  	BSE	  	Wells Fargo	  	 	4,722,608	  	 	Operating
/
Checking	 	 [*]
	  	December 17, 2010
							
		  	BSE	  	SVB	  	$	158	  	 	Operating
/
Checking	 	 [*]
	  	December 17, 2010
							
		  	BSE	  	City National	  	$	3,100	  	 	Operating
/
Checking	 	 [*]
	  	December 17, 2010
							
		  	BSCM	  	Wells Fargo	  	$	3,370,145	  	 	Operating
/
Checking	 	 [*]
	  	December 17, 2010
							
		  	BSE	  	Wells Fargo	  	€	1,324325	  	 	MCA /
Operating	 	 [*]
	  	December 17, 2010
							
		  	BSE	  	Wells Fargo	  	 
 	2,303,870
ILS	  
  	 	MCA /
Operating	 	 [*]
	  	December 17, 2010

* Confidential Treatment Requested 

  
 SCHEDULE 5.2-4

													
							
	 (4) Deposit
 Accounts
	  	 	  	 Banking

Organization
	  	Account
Balance	 	Account
Type	  	 Account

Number
	  	 Balance

as of Date

							
		  	BSE	  	 [*]
	  	[*]	 	Interest
Reserve for
HTGC	  	 [*]
	  	March 21, 2011

 II.
INTELLECTUAL PROPERTY 
  

	(A)	Copyrights 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Title of Work
	  	 Registration Number

(if any)
	  	 Registration Date

(if any)

	 N/A
	  		  		  		  	

  

	(B)	Copyright Licenses 

  

							
	 Grantor
	  	 Description of Copyright

License
	  	 Registration Number (if

any) of underlying
 Copyright
	  	 Name of Licensor

	 N/A
	  		  		  	

 * Confidential Treatment Requested 

  
 SCHEDULE 5.2-5

	(C)	Patents 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Title of Patent
	  	 Patent

Number/(Application
 Number)
	  	 Issue Date/(Filing

Date)

	 See Attachment I

Patent Schedule
	  		  		  		  	

  

	(D)	Patent Licenses 

  

							
	 Grantor
	  	 Description of Patent

License
	  	 Patent Number of

underlying Patent
	  	 Name of Licensor

	 N/A
	  		  		  	

  

	(E)	Trademarks 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Trademark
	  	 Registration

Number/(Serial Number)
	  	 Registration

Date/(Filing Date)

	 See Attachment II

Trademark Schedule
	  		  		  		  	

  

	(F)	Trademark Licenses 

  

							
	 Grantor
	  	 Description of Trademark

License
	  	 Registration Number of

underlying Trademark
	  	 Name of Licensor

	 N/A
	  		  		  	

  

	(G)	Trade Secret Licenses 

  

	 	1.	Assignment Agreement dated October 24, 2006 between Borrower and Los Angeles Advisory Services Incorporated (“LAAS”). LAAS is a major stockholder
of the Borrower and is in turn owned by Arnold J. Goldman, the Borrower’s founder and Chairman, and members of his immediate family. 

  

	 	2.	 Consulting Letter of Agreement among Borrower, Dr. Arieh Meitav and Electrochemical Technologies Consultancy & Services
(“ELT”) dated March 1, 2006. Borrower is obligated to pay certain royalties to ELT or Dr. Meitav in the event any intellectual property developed 

  
 SCHEDULE 5.2-6

	 	 
by Dr. Meitav pursuant to this agreement is patented by Borrower, [*]. 

  

	 	3.	Invention Assignment Agreement between Borrower and Yuri Kokotov dated June 1, 2006. Borrower is obligated to pay Mr. Kokotov royalties, up to a maximum
of $[*], in the event that Borrower derives revenues from sales of Solar Electricity Generating Systems (as described in the agreement) which incorporate certain intellectual property, if any, developed by Mr. Kokotov and assigned to the
Borrower. In addition, if Borrower receives a patent based on the intellectual property developed by Mr. Kokotov related to Solar Electricity Generating Systems and assigned to Borrower, and the intellectual property is sold to third
parties or licensed as an independent product then Borrower is obligated to pay additional royalties to Mr. Kokotov, up to a maximum of $[*] (exclusive of the royalties paid, if any, described in the prior sentence). 

 

	 	4.	Invention Assignment Agreement between Borrower and Yuri Kokotov dated February 4, 2005. Borrower is obligated to pay Mr. Kokotov certain royalties, up
to a maximum of $[*], in the event Borrower derives revenues from sales of algae produced by a Water Fall Bioreactor (as described in the agreement) which incorporate certain intellectual property, if any, developed by Mr. Kokotov and assigned
to the Borrower. In addition, if Borrower receives a patent based on the intellectual property developed by Mr. Kokotov related to and assigned to Borrower, and the intellectual property is sold to third parties or licensed as an
independent product then Borrower is obligated to pay additional royalties to Mr. Kokotov, up to a maximum of $[*] (exclusive of the royalties paid, if any, described in the prior sentence). 

 

	 	5.	Non-binding Letter of Intent dated February 6, 2009 between Borrower and Arizona State University for the development of AZ Smart (Arizona Solar market analysis
and research tool). Borrower expressed an interest in contributing up to $[*] in support of the project in collaboration with Science Foundation of Arizona and its Arizona Solar Technology Institute on an annual basis, payable on a
milestone-achieved basis, after additional review of the project proposal. 

  

	 	6.	Unit 1 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60012-2-13600-10-0120). [*]. 

  

	 	7.	Unit 2 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60046-2-13600-10-0110). [*]. 

  

	 	8.	Unit 3 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60028-2-13600-10-0110). [*]. 

  

	*	Confidential Treatment Requested 

  
 SCHEDULE 5.2-7

 III. COMMERCIAL TORT CLAIMS 

 

			
	 Grantor
	  	 Commercial Tort Claims

	 N/A
	  	

 IV. LETTER OF CREDIT RIGHTS 

 

			
	 Grantor
	  	 Description of Letters of Credit

	 N/A
	  	

 V. WAREHOUSEMAN, BAILEES AND OTHER THIRD PARTIES IN POSSESSION OF COLLATERAL 

 

					
	 Grantor
	  	 Description of Property
	  	 Name and Address of Third Party

	 N/A
	  		  	

  
 SCHEDULE 5.2-8

 Attachment I 

Patents 
  

									
	 1.1 ID
	  	 1.2 FILED
	  	 TITLE
	  	 STATUS
	  	 Record
Owner

 1. PENDING US UTILITY AND PCT APPLICATIONS 

 

									
	 103
	  	01 Mar 07	  	High temperature pipeline	  	US application 11/681,146	  	BSE
					
	 201
	  	12 Mar 07	  	Hybrid generation with alternative fuel sources	  	US application 11/685,144; Responded to non-final office action August 2010	  	BSE
					
	 204
	  	06 Apr 07	  	Solar plant employing cultivation of organisms	  	PCT application PCT/US07/66195; US application filed 06 Oct 08 as 12/246,422	  	BSE
					
	 102
	  	1 Aug 07	  	High density bioreactor system, devices and methods	  	US application 11/832,201 Responded to non-final office action June 2010	  	BSE
	
	2. PENDING NON-US APPLICATIONS
					
	 105
	  	13 May 07	  	High temperature solar receiver	  	Israel application IL 183154	  	BSE
					
	 102
	  	1 Aug 07	  	High density bioreactor system, devices and methods	  	Israel application IL 184971	  	BSE
	
	3. ISSUED PATENTS
					
	 108
	  	20 Jan 04	  	Low Emission Energy Source	  	US Pat No. 7,191,736 Issued March 20, 2007	  	BSE
					
	 110
	  	14 Jun 05	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,191,597 Issued March 20, 2007	  	BSE
					
	 109
	  	31 May 05	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,331,178 Issued February 19, 2008	  	BSE
					
	 105
	  	11 May 07	  	High temperature solar receiver	  	US Pat No. 7,690,377 Issued April 6, 2010	  	BSE
					
	 202
	  	22 Nov 06	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,845,172 Issued December 7, 2010	  	BrightSource Energy, Inc. (“BSE”)

  
 SCHEDULE 5.2-9

 Attachment II 

Trademarks 
  

																	
	 Mark
	  	 Country
	  	App No	  	App Date	  	Reg No	  	Reg
Date	  	Classes	  	 Record Owner
	  	 Status

	 BRIGHTSOURCE
	  	 United
 States of

America
	  	77/356,210	  	12/19/2007	  		  		  	06,07,09,
 11,37,42
	  	 BrightSource Energy, Inc.
 (“BSE”)
	  	 Allowed 2/23/2010
  

Statement of Use/2nd Extension due 2/23/2011

									
	 BRIGHTSOURCE
	  	 European Community
 Trade
Mark
 Office
 (OHIM)
	  	7005598	  	6/19/2008	  	7005598	  	6/19/2008	  	07,09,11,
 37,40,42
	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHTSOURCE
	  	Israel	  	212177	  	6/19/2008	  	212177	  	6/19/2008	  	09	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHTSOURCE
	  	Israel	  	212179	  	6/19/2008	  	212179	  	6/19/2008	  	37	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHTSOURCE
	  	Israel	  	212182	  	6/19/2008	  	212182	  	6/19/2008	  	42	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 LUZ
	  	 United
 States of

America
	  	78/895,368	  	5/30/2006	  		  		  	09,11,40	  	BSE	  	 Allowed 12/11/2007
 Statement
of Use FINAL due 12/11/2010

									
	 LUZ
	  	 United
 States of

America
	  	85/190,577	  	12/3/2010	  		  		  	09	  	BSE	  	 Filed
 Foreign filing deadline
6/3/2010

									
	 LUZ
	  	 United
 States of

America
	  	85/190,583	  	12/3/2010	  		  		  	11	  	BSE	  	 Filed
 Foreign filing deadline
6/3/2010

									
	 LUZ
	  	Israel	  	218021	  	12/24/2008	  		  		  	09	  	BSE	  	Allowed
									
	 LUZ
	  	Israel	  	218020	  	12/24/2008	  		  		  	11	  	BSE	  	Allowed

  
 SCHEDULE
5.2-10 

 DOMAINS 

 

									
	 Domain Name
	  	 Registrant
	  	 Registrar
	  	 Creation

Date
	  	 Expiration/

Renewal

	 brightsourceenergy.com
	  	 Bright Source Energy
 1999
Harrison Street
 Oakland, CA 94612

United States
	  	 Administrative Contact:

Ben Baruch, Shimi
 Bright Source
Energy
 Kiryat Mada St. 11, Amot Bldg #6

P.O. Box 45220, Har Hotzvim
 Jerusalem,
91450
 Israel
 Ph
+972.772025133
 Fax +972.153526514133
 Email: sbenbaruch@BrightSourceEnergy.com
  
 Technical Contact:
 Att: Jackisch, Scott

Bright Source Energy
 1999 Harrison
Street
 Oakland, CA 94612
 United
States
 +1.5105508161
 Email:
scott@globalizenetworks.com
	  	Nov 17, 2006	  	Nov 17, 2014
					
	 luz2.com
	  	 Domains by Proxy, Inc.

DomainsByProxy.com
 15111 N. Hayden
Rd.,
 Ste 160, PMB 353
 Scottsdale, AZ
85260
 United States
	  	 Administrative Contact: 

Private, Registration
 Registered through:
GoDaddy.com, Inc.
 (http://www.godaddy.com)
 Domains by Proxy, Inc.
 DomainsByProxy.com
 15111 N. Hayden Rd.,
 Ste 160, PMB 353
 Scottsdale, AZ 85260
 United States
 Ph (480) 624-2599
 Fax (480) 624-2598
 Email: LUZ2.COM@domainsbyproxy.com
  
 Technical Contact: 
 Private, Registration

Domains by Proxy, Inc.

DomainsByProxy.com
 15111 N. Hayden
Rd.,
 Ste 160, PMB 353
 Scottsdale, AZ
85260
 United States
 Ph (480)
624-2599
 Fax (480) 624-2598
 Email:
LUZ2.COM@domainsbyproxy.com
	  	April 1, 2004	  	April 1, 2015
					
	 luz2.net
	  	 Domains by Proxy, Inc.

DomainsByProxy.com
 15111 N. Hayden
Rd.,
 Ste 160, PMB
	  	 Registered through: GoDaddy.com, Inc.
 (http://www.godaddy.com)
 Domain Name: LUZ2.NET 

 
 Administrative and Technical Contact:

Private, Registration Domains by Proxy, Inc.
	  	April 1, 2004	  	April 1, 2015

  
 SCHEDULE
5.2-11 

									
					
		  	 353 Scottsdale,
 AZ
85260
 United States
	  	 DomainsByProxy.com
 15111 N.
Hayden Rd.,
 Ste 160, PMB 353

Scottsdale, AZ 85260
 United States

Ph (480) 624-2599
 Fax (480) 624-2598

Email: LUZ2.NET@domainsbyproxy.com
  

Technical Contact:
 Private, Registration
Domains by Proxy, Inc.
 DomainsByProxy.com
 15111 N. Hayden Rd., Ste 160, PMB 353
 Scottsdale, AZ 85260

United States
 Ph (480) 624-2599

Fax (480) 624-2598
 Email:
LUZ2.NET@domainsbyproxy.com
	  		  	
					
	 luz2.us
	  	 LUZ2
 8 Rabbenu Politi
Jerusalem,
 Outside US/Canada 93390

Israel
	  	 Registered through: GoDaddy.com, Inc.
 (http://www.godaddy.com) 
  
 Administrative Contact: 
 Ben Baruch, Shimi

LUZ2
 Kiryat Mada 11

Jerusalem, Outside US/Canada 91450

Israel
 Ph +972.772025133

Email: sbenbaruch@luz2.com 
  

Technical Contact: 
 Tannen, Chaim
Luz2
 Kiryat Mada #11, Amot bldg #6
 PO
Box 44220
 Jerusalem, Outside US/Canada 91450
 Israel
 Ph +972.772025101
 Email: ctannen@luz2.com
	  	April 1, 2004	  	March 31, 2015
					
	 luz2.co.il
	  	 Arnold J. Goldman
 69
Rehov
 HaPalmach
 Jerusalem
92542
 Israel
  
 Phone: +972 256e988
 Email: sphere@netvision.net.il
	  	 Administrative and Technical Contact
 Ben Baruch, Shimi
 Luz II
 Kiryat Mada 11
 Jerusalem 91450 Israel 

 
 Zone Contact:
 Arnold J. Goldman
 Sphere Ltd
 69 Rehov HaPalmach
 Jerusalem 92542 Israel
 Phone: +972 2 5636988
 Email: sphere@netvision.net.il
	  	April 7, 2004	  	April 7, 2012
					
	 bseinc.com
	  	BrightSource	  	Registered through: GoDaddy.com, Inc.	  	Feb 11, 2008	  	Feb 11, 2012

  
 SCHEDULE
5.2-12 

									
		  	 Energy
 1999 Harrison
St.
 Suite 500 Oakland, CA 94612

United States
	  	 (http://www.godaddy.com)

Administrative and Technical Contact:

Stieglitz, Jeff
 BrightSource Energy

1999 Harrison St. Suite 500
 Oakland, CA
94612
 United States

+1.5105508913
 Email:
jstieglitz@brightsourceenergy.com
	  		  	

  
 SCHEDULE
5.2-13 

 SCHEDULE 5.4 TO 
 PLEDGE AND SECURITY AGREEMENT 
 FINANCING STATEMENTS 

 

			
	 Grantor
	  	 Filing Jurisdiction(s)

	 BrightSource Energy, Inc.
	  	Delaware – Secretary of State
		
	 BrightSource Construction Management, Inc.
	  	Delaware – Secretary of State
		
	 BrightSource Asset Holdings, LLC
	  	Delaware – Secretary of StateForm of Agreement for Restricted Stock Unit Award

 Exhibit 10.1 

 

 

 RESTRICTED STOCK UNIT AWARD 
 Award Number: 
  

									
	Award Date	 		  	 Number of
Units
  
	 		  	Final Vesting
Date

 THIS CERTIFIES THAT UnitedHealth Group Incorporated (the “Company”) has on the award date specified above (
the “Award Date”) granted to 
 «Name» 
 (“Participant”) an award (the “Award”) to receive that number of restricted stock units (the “Restricted Stock Units”) indicated above in the box labeled “Number of
Units,” each Restricted Stock Unit representing the right to receive one share of UnitedHealth Group Incorporated Common Stock, $.01 par value per share (the “Common Stock”), subject to certain restrictions and on the terms and
conditions contained in this Award and the UnitedHealth Group Incorporated 2011 Stock Incentive Plan (the “Plan”). 
 The Participant
acknowledges and agrees that the Company may deliver, by electronic mail, the use of the Internet, including through the website of the agent appointed by the Committee to administer the Plan, the Company intranet web pages or otherwise, any
information concerning the Company, this Award, the Plan, pursuant to which the Company granted this Award, and any information required by the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

A copy of the Plan is available upon request. In the event of any conflict between the terms of the Plan and this Award, the terms of the Plan shall
govern. Any terms not defined herein shall have the meaning set forth in the Plan. 
 * * * * * 

1. Rights of the Participant with Respect to the Restricted Stock Units. 

(a) No Shareholder Rights. The Restricted Stock Units granted pursuant to this Award do not and shall not entitle
Participant to any rights of a shareholder of Common Stock, except as provided below. The rights of Participant with respect to the Restricted Stock Units shall remain forfeitable at all times prior to the date on which such rights become vested,
and the restrictions with respect to the Restricted Stock Units lapse, in accordance with Section 2, 3 or 4. 

 (b) Conversion of Restricted Stock Units; Issuance of Common Stock.
No shares of Common Stock shall be issued to Participant prior to the date on which the Restricted Stock Units vest, and the restrictions with respect to the Restricted Stock Units lapse, in accordance with Section 2, 3 or 4. Neither this
Section 1(b) nor any action taken pursuant to or in accordance with this Section 1(b) shall be construed to create a trust of any kind. After any Restricted Stock Units vest pursuant to Section 2, 3 or 4, the Company shall promptly
cause to be issued shares of Common Stock to Participant or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, in payment of such vested whole Restricted Stock Units, at the times provided in
Section 2, 3 or 4, as applicable, unless such payment is deferred in accordance with the terms and conditions of the Company’s non-qualified compensation deferral plans. 

(c) Dividends. If a cash dividend is declared and paid by the Company with respect to the Common Stock, Participant
shall be credited as of the applicable dividend payment date with an additional number of whole and/or fractional Restricted Stock Units (the “Dividend Units”) equal to (A) the total cash dividend Participant would have received had
Participant’s Restricted Stock Units (and any previously credited Dividend Units with respect thereto) been actual shares of Common Stock, divided by (B) the Fair Market Value of a share of Common Stock as of the applicable dividend
payment date. As of each vesting date pursuant to Sections 2, 3 or 4, the number of Dividend Units paid on the Restricted Stock Units vesting on such vesting date shall become vested, earned and payable in the form of shares of Common Stock;
provided, however, that any vested Dividend Units not converted into a whole share of Common Stock may be converted into a fractional Dividend Unit, cash or carried forward to a future vesting date in accordance with the rules and regulations of
agent selected by the Committee to administer the Plan. To the extent Participant’s rights to any unvested Restricted Stock Units are forfeited, the Dividend Units paid on such forfeited Restricted Stock Units shall also be forfeited. The terms
of this Award certificate shall apply to all Dividend Units paid on the Restricted Stock Units. 
 2. Vesting. Subject to the terms
and conditions of this Award,             % of the Restricted Stock Units shall vest, and the restrictions with respect to the Restricted Stock Units shall lapse,
                                        
if Participant remains continuously employed by the Company or any Affiliate until the respective vesting dates. Any Restricted Stock Units that vest pursuant to this Section 2 shall be paid to Participant not later than seventy four
(74) days after the applicable vesting date. 
 3. Early Vesting On Certain Terminations On or After Change in Control.
Notwithstanding the other vesting provisions contained in Section 2 and Section 4, but subject to the other terms and conditions set forth herein, all of the Restricted Stock Units shall become immediately and unconditionally vested if, on
or within two years after the effective date of a Change in Control, the Participant ceases to be an employee of the Company or any Affiliate as a result of a termination of employment (i) by the Participant for Good Reason, (ii) by the
Company or any Affiliate without Cause, (iii) at a time when Participant is eligible for Retirement (as defined below), (iv) due to 

  
 2 

 
Participant’s failure to return to work as the result of a long-term disability which renders Participant incapable of performing his or her duties as determined under the provisions of the
Company’s long-term disability insurance program applicable to Participant (“Disability”), or (v) in the circumstances described in Section 4(c). Any Restricted Stock Units that vest pursuant to this Section 3 shall be
paid to Participant in a lump sum within thirty (30) days after the date of Participant’s Separation from Service. For purposes of this Award: 
 (a) “Change in Control” shall mean the sale of all or substantially all of the Company’s assets or any merger, reorganization, or exchange or tender offer which, in each case, will result
in a change in the power to elect 50% or more of the members of the Board of Directors of the Company; provided, however, that such a sale, merger or other event must also constitute either (i) a “change in the ownership” of the
Company within the meaning of Treasury Regulation 1.409A-3(i)(5)(v), (ii) a “change in the effective control” of the Company within the meaning of Treasury Regulation 1.409A-3(i)(5)(vi)(A)(1) (replacing “30 percent” with
“50 percent” as used in such regulation), or (iii) a change “in the ownership of a substantial portion of the assets” of the Company within the meaning of Treasury Regulation 1.409A-3(i)(5)(vii). 

(b) “Cause” shall mean Participant’s (a) material failure to follow the Company’s reasonable
direction or to perform any duties reasonably required on material matters, (b) material violation of, or failure to act upon or report known or suspected violations of, the Company’s Code of Conduct, as may be amended from time to time,
(c) conviction of any felony, (d) commission of any criminal, fraudulent, or dishonest act in connection with Participant’s employment, or (e) material breach of any employment agreement between Participant and the Company or any
Affiliate, if any. The Company will, within 90 days of discovery of the conduct, give Participant written notice specifying the conduct constituting Cause in reasonable detail and Participant will have 60 days to remedy such conduct, if such conduct
is reasonably capable of being remedied. In any instance where the Company may have grounds for Cause, failure by the Company to provide written notice of the grounds for Cause within 90 days of discovery shall be a waiver of its right to assert the
subject conduct as a basis for termination for Cause. 
 (c) “Good Reason” shall mean the occurrence of
any of the following without Participant’s written consent, in each case, when compared to the arrangements in effect immediately prior to the Change in Control: 
  

	 	(i)	any reduction in Participant’s base salary or a significant reduction in Participant’s total compensation; 

 

	 	(ii)	a reduction in Participant’s annual or long-term incentive opportunities; 

 

	 	(iii)	a diminution in Participant’s duties, responsibilities or authority; 

  
 3 

	 	(iv)	a significant diminution in the budget over which the Participant retains authority; 

 

	 	(v)	a change in Participant’s reporting relationship; or 

  

	 	(vi)	a relocation of more than 25 miles from Participant’s primary office location. 

Participant will, within 90 days of discovery of such circumstances, give the Company written notice specifying the circumstances
constituting Good Reason in reasonable detail; provided however that this notice period shall be shortened or waived to the extent necessary if compliance with the notice period would cause the termination for Good Reason to occur following the
second anniversary of the effective date of the Change in Control. Except as contemplated by the preceding sentence, in any instance where Participant may have grounds for Good Reason, failure by Participant to provide written notice of the grounds
for Good Reason within 90 days of discovery shall be a waiver of Participant’s right to assert the subject circumstance as a basis for termination for Good Reason. 

(d) “Separation from Service” shall mean when Participant dies, retires, or otherwise has a termination of
employment with the Company that constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h)(1), without regard to the optional alternative definitions available thereunder. 

(e) Section 409A - Possible Acceleration of Payment. The Committee may provide for payment of the outstanding
Restricted Stock Units in accordance with the requirements of Treasury Regulation 1.409A-3(j)(4)(ix)(A), (B) or (C) promulgated under Section 409A of the Code (or any similar successor provision), which regulation generally provides
that a deferred compensation arrangement may be terminated in limited circumstances following a dissolution or change in control of the Company. If the outstanding Restricted Stock Units are to be so terminated, they shall be deemed fully vested
upon such termination. Notwithstanding anything in the Plan or any other agreement to the contrary, there is no discretion to change the time of payment of the Restricted Stock Units (in connection with a Change in Control, similar event, or
otherwise) except as expressly provided in this Section 3 or as otherwise permitted under, and would not result in any tax, penalty or interest under, Section 409A of the Code. 

(f) Section 409A - Possible Six-Month Delay in Payment. Notwithstanding any provision of this Award
certificate to the contrary, if payment of the Restricted Stock Units is triggered by Participant’s Separation from Service as provided in this Section 3 and, as of the date of such Separation from Service, Participant is a “specified
employee” (within the meaning of Section 409A of the Code and determined pursuant to procedures adopted by the Company), Participant shall not be entitled to such payment of the Restricted Stock Units until the earlier of (i) the date
which is six (6) months after Participant’s Separation from Service for any 

  
 4 

 
reason other than death, or (ii) the date of Participant’s death. Any amounts otherwise payable to Participant upon or in the six (6) month period following Participant’s
Separation from Service that are not so paid by reason of this Section 3(f) shall be paid (without interest) as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months after
Participant’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after the date of Participant’s death). The provisions of this Section 3(f) shall only apply if, and to the
extent, required to avoid the imputation of any tax, penalty or interest pursuant to Section 409A of the Code. 
 4. Termination of
Employment. 
 (a) Termination of Employment Generally. Except as expressly provided in Section 3
or this Section 4, if, prior to vesting of the Restricted Stock Units pursuant to Section 2, Participant ceases to be an employee of the Company or any Affiliate for any reason (voluntary or involuntary), and does not continue after such
cessation of service to be either an employee of the Company or any Affiliate, then Participant’s rights to all of the unvested Restricted Stock Units shall be immediately and irrevocably forfeited on the date of termination. 

(b) Death. If Participant dies while employed by the Company or any Affiliate, then all unvested Restricted Stock
Units shall become immediately vested, and the restrictions with respect to all of the Restricted Stock Units shall lapse, as of the date of such death. Any Restricted Stock Units that vest pursuant to this Section 4(b) shall be paid to
Participant’s estate not later than 90 days after the date of such death. 
 (c) Severance. If
Participant’s employment with the Company or any Affiliate terminates at a time when Participant is not eligible for Retirement (and other than due to Participant’s death or Disability) and, in the circumstances, Participant is entitled to
severance or separation pay, the following provisions of this Section 4(c) will apply. If Participant is entitled to severance under the Company’s severance pay plan as in effect on the date hereof, then the Restricted Stock Units shall
continue to vest, and the restrictions with respect to the Restricted Stock Units shall continue to lapse, for the period of such severance that Participant is eligible to receive. If Participant is entitled to severance under an employment
agreement entered into with the Company, then vesting of the Restricted Stock Units, and lapsing of their restrictions, shall continue for the period of such severance that Participant would be entitled to receive under that agreement as of the date
hereof. If Participant is entitled to separation pay other than under the Company’s severance pay plan or an employment agreement, then vesting of the Restricted Stock Units, and lapsing of their restrictions, shall continue for the lesser of
the period (i) Participant would have received payments under the severance pay plan as in effect on the date hereof, had Participant been eligible for such payments or (ii) of separation pay. In any case, should Participant’s
severance or separation pay be paid in a lump sum versus bi-weekly payments, the Restricted Stock Units shall continue to vest for the period of time in which severance or separation pay would

  
 5 

 
have been paid had it been paid bi-weekly. Any Restricted Stock Units that vest pursuant to this Section 4(c) shall be paid to Participant not later than seventy four (74) days after
the applicable vesting date of the Restricted Stock Units under the original vesting schedule set forth in Section 2. For avoidance of doubt, any Restricted Stock Units that are unvested on the date of termination of Participant’s
employment and do not vest under the schedule set forth in Section 2 during the applicable severance or separation pay period identified above in this Section 4(c) shall be forfeited. 

(d) Retirement or Long-Term Disability. If Participant ceases to be an employee of the Company or any Affiliate and
either (i) Participant is eligible for Retirement at the time of such termination of employment or (ii) Participant’s employment terminates due to Participant’s Disability, then the vesting of the Restricted Stock Units shall
continue as if such termination of employment had not occurred, subject to provisions set out in the section entitled “Forfeiture of Restricted Stock Units and Shares of Common Stock” below. Any Restricted Stock Units that vest pursuant to
this Section 4(d) shall be paid to Participant not later than seventy four (74) days after the applicable vesting date of the Restricted Stock Units under the original vesting schedule set forth in Section 2. 

(e) For purposes of this Award, “Retirement” means the termination of employment of a Participant who is age 55
or older with at least ten years of Recognized Employment with the Company or any Affiliate other than by reason of (i) death or Disability or (ii) Cause. 

(f) For purposes of this Award, “Recognized Employment” shall include only employment since the
Participant’s most recent date of hire by the Company or any Affiliate, and shall [not] include employment with a company acquired by the Company or any Affiliate before the date of such acquisition. 

5. Restriction on Transfer. Participant may not transfer the Restricted Stock Units except by will or by the laws of descent and
distribution, or pursuant to a domestic relations order as described in the Code or Title I of the Employee Retirement Income Security Act (or the rules promulgated thereunder). Any attempt to otherwise transfer the Restricted Stock Units shall be
void. 
 6. Special Restriction on Transfer for Certain Participants. If Participant is an officer of the Company within the meaning of
Section 16 of the Securities Exchange Act of 1934 and Rule 16a-1 issued thereunder, as such status is reasonably determined from time to time by the Board of Directors of the Company (a “Section 16 Officer”), at any time that shares
of Common Stock are issued upon the vesting of Restricted Stock Units and the Company has theretofore communicated Participant’s status as a Section 16 Officer to Participant, the following special transfer restrictions apply to
Participant’s Award. One-third (1/3) of the net number of any shares of Common Stock acquired to Participant upon the vesting of Restricted Stock Units at a time when Participant is a Section 16 Officer (including any shares of Common
Stock or other securities into which such shares may be converted or exchanged as a result of any adjustment made pursuant to this 

  
 6 

 
Award or Section 7 of the Plan) must be retained, and may not be sold or otherwise transferred, for a period of at least one year following the applicable vesting date. For purposes of this
Award, the “net number of any shares of Common Stock acquired” shall mean the number of shares issued upon vesting of Restricted Stock Units after reduction for any shares of Common Stock withheld by or tendered to the Company, or sold on
the market, to cover any federal, state, local or other payroll, withholding, income or other applicable tax withholding required in connection with the issuance of the shares. The restrictions of this Section 6 are in addition to, and not in
lieu of, the restrictions imposed under other Company policies and applicable laws. 
 7. Forfeiture of Restricted Stock Units and Shares of
Common Stock. This section sets forth circumstances under which Participant shall forfeit all or a portion of the Restricted Stock Units, or be required to repay the Company for the value realized in respect of all or a portion of the Restricted
Stock Units. 
 (a) Violation of Restrictive Covenants. If Participant violates any provision of the
Restrictive Covenants set forth in Section 8 below, then any unvested Restricted Stock Units shall be immediately and irrevocably forfeited without any payment therefor. In addition, for any Restricted Stock Units that vested within one year
prior to Participant’s termination of employment with the Company or any Affiliate or at any time after such termination of employment, the Participant shall be required, upon demand, to repay or otherwise reimburse the Company (including by
forfeiting any deferred compensation credits in respect of such Restricted Stock Units under the Company’s non-qualified compensation deferral plans) an amount having a value equal to the aggregate Fair Market Value of the shares of Common
Stock underlying such Restricted Stock Units on the date the Restricted Stock Units became vested. 
 (b)
Fraud. If the Board determines that Participant has engaged in fraud that, in whole or in part, caused the need for a material restatement of the Company’s consolidated financial statements, then any Restricted Stock Units that have not
yet been settled in shares of Common Stock (including any deferred compensation credits under the Company’s non-qualified compensation deferral plans in respect of Restricted Stock Units that have previously become vested) shall be immediately
and irrevocably forfeited without any payment therefore. In addition, for any Restricted Stock Units that became vested during the 12-month period following the first public issuance or filing with the Securities Exchange Commission (whichever
occurs first) of the incorrect financial statements, Participant shall be required, upon demand, to repay or otherwise reimburse the Company (including by forfeiting any deferred compensation credits in respect of such Restricted Stock Units under
the Company’s non-qualified compensation deferral plans) an amount having a value equal to the aggregate Fair Market Value of the shares of Common Stock underlying such Restricted Stock Units on the date the Restricted Stock Units became
vested. 
 (c) In General. This section does not constitute the Company’s exclusive remedy for
Participant’s violation of the Restrictive Covenants or commission of fraudulent conduct. As the forfeiture and repayment provisions are not adequate 

  
 7 

 
remedies at law, the Company may seek any additional legal or equitable remedy, including injunctive relief, for any such violations. The provisions in this section are essential economic
conditions to the Company’s grant of Restricted Stock Units to Participant. By receiving the grant of Restricted Stock Units hereunder, Participant agrees that the Company may deduct from any amounts it owes Participant from time to time (such
as wages or other compensation, deferred compensation credits, vacation pay, any severance or other payments owed following a termination of employment, as well as any other amounts owed to the Participant by the Company) to the extent of any
amounts Participant owes the Company under this section. The provisions of this section and any amounts repayable by Participant hereunder are intended to be in addition to any rights to repayment the Company may have under Section 304 of the
Sarbanes-Oxley Act of 2002 and other applicable law. 
 8. Restrictive Covenants. In consideration of the terms of this Award and the
Company’s sharing of Confidential Information with the Participant, Participant agrees to the Restrictive Covenants set forth below. For purposes of the Restrictive Covenants, the “Company” means UnitedHealth Group and all of its
subsidiaries and other affiliates. 
 (a) Confidential Information. Participant has or will be given
access to and provided with sensitive, confidential, proprietary and/or trade secret information (collectively, “Confidential Information”) in the course of Participant’s employment. Examples of Confidential Information include
inventions, new product or marketing plans, business strategies and plans, merger and acquisition targets, financial and pricing information, computer programs, source codes, models and data bases, analytical models, customer lists and information,
and supplier and vendor lists and other information which is not generally available to the public. Participant agrees not to disclose or use Confidential Information, either during or after Participant’s employment with the Company, except as
necessary to perform Participant’s duties or as the Company may consent in writing. 
 (b)
Non-Solicitation. During Participant’s employment and for two years after the later of (i) the termination of Participant’s employment for any reason whatsoever or (ii) the last scheduled vesting date under Section 4,
Participant may not, without the Company’s prior written consent, directly or indirectly, for Participant or for any other person or entity, as agent, employee, officer, director, consultant, owner, principal, partner or shareholder, or in any
other individual or representative capacity: 
  

	 	(i)	 Solicit or conduct business with any business competitive with the Company from any person or entity: (A) who was a Company provider or customer
within the 12 months before Participant’s employment termination and with whom Participant had contact regarding the Company’s activity, products or services, or for whom Participant provided services or supervised employees who provided
those services, or about whom Participant learned Confidential Information during employment related to the 

  
 8 

	 	 
Company’s provision of products and services to such person or entity, or (B) was a prospective provider or customer the Company solicited within the 12 months before Participant’s
employment termination and with whom Participant had contact for the purposes of soliciting the person or entity to become a provider or customer of the Company, or supervised employees who had those contacts, or about whom Participant learned
Confidential Information during employment related to the Company’s provision of products and services to such person or entity; 

  

	 	(ii)	Raid, hire, employ, recruit or solicit any Company employee or consultant who possesses Confidential Information of the Company to leave the Company;

  

	 	(iii)	Induce or influence any Company employee, consultant, or provider who possesses Confidential Information of the Company to terminate his, her or its employment or other
relationship with the Company; or 

  

	 	(iv)	Assist anyone in any of the activities listed above. 

 (c) Non-Competition. During Participant’s employment and for one year after the later of (i) the termination of Participant’s employment for any reason whatsoever or
(ii) the last scheduled vesting date under Section 4, Participant may not, without the Company’s prior written consent, directly or indirectly, for Participant or for any other person or entity, as agent, employee, officer, director,
consultant, owner, principal, partner or shareholder, or in any other individual or representative capacity: 
  

	 	(i)	Engage in or participate in any activity that competes, directly or indirectly, with any Company activity, product or service that Participant engaged in, participated
in, or had Confidential Information about during Participant’s last 36 months of employment with the Company; or 

  

	 	(ii)	Assist anyone in any of the activities listed above. 

 Notwithstanding the foregoing, this Section 8(c) will apply to the extent permissible under the ABA Model Rules of Professional Conduct’s provisions regarding restrictions on the right to
practice law or any applicable state counterpart. 
 (d) Because the Company’s business competes on a
nationwide basis, the Participant’s obligations under this “Restrictive Covenants” section shall apply on a nationwide basis anywhere in the United States. 

(e) To the extent Participant and the Company agree at any time to enter into separate agreements containing restrictive
covenants with different or inconsistent 

  
 9 

 
terms than those contained herein, Participant and the Company acknowledge and agree that such different or inconsistent terms shall not in any way affect or have relevance to the Restrictive
Covenants contained herein. 
 By accepting this Restricted Stock Unit Award, Participant agrees that the provisions of this
Restrictive Covenants section are reasonable and necessary to protect the legitimate interests of the Company. 

9. Adjustments to Restricted Stock Units. In the event that any dividend or other distribution (whether in the form of cash,
shares of Common Stock, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Stock or other securities of
the Company or other similar corporate transaction or event affecting the Common Stock would be reasonably likely to result in the diminution or enlargement of any of the benefits or potential benefits intended to be made available under the Award
(including, without limitation, the benefits or potential benefits of provisions relating to the vesting of the Restricted Stock Units), the Committee shall, in such manner as it shall deem equitable or appropriate in order to prevent such
diminution or enlargement of any such benefits or potential benefits, make adjustments to the Award, including adjustments in the number and type of shares of Common Stock Participant would have received upon vesting of the Restricted Stock Units.

 10. Tax Matters. 
 (a) In order to comply with all applicable federal, state and local tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal, state and
local payroll, withholding, income or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant. 
 (b) On each applicable vesting date, Participant will be deemed to have elected to satisfy Participant’s minimum required federal, state, and local payroll, withholding, income or other tax
withholding obligations arising from the receipt of shares or the lapse of restrictions relating to the Restricted Stock Units, by having the Company withhold a portion of the shares of Common Stock otherwise to be delivered having a Fair Market
Value equal to the amount of such taxes (but only to the extent of the minimum amount required to be withheld under applicable laws or regulations). 
 11. Miscellaneous. 
 (a) This Award does not
confer on Participant any right to continued employment or any other relationship with the Company or any Affiliate, nor will it interfere in any way with the right of the Company to terminate Participant at any time. Participant’s employment
with the Company is at will. 
 (b) Neither the Plan nor this Award shall create or be construed to create a
trust or separate fund of any kind or a fiduciary relationship between the Company 

  
 10 

 
or any Affiliate and Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall
be no greater than the right of any unsecured creditor of the Company or any Affiliate. 
 (c) The Company
shall not be required to deliver any shares of Common Stock upon the vesting of any Restricted Stock Units until the requirements of any federal or state securities laws, rules or regulations or other laws or rules (including the rules of any
securities exchange) as may be determined by the Company to be applicable have been and continue to be satisfied (including an effective registration of the shares under federal and state securities laws). 

(d) An original record of this Award and all the terms hereof, executed by the Company, is held on file by the
Company. To the extent there is any conflict between the terms contained in this Award and the terms contained in the original held by the Company, the terms of the original held by the Company shall control. 

(e) If a court or arbitrator decides that any provision of this Award is invalid or overbroad, Participant agrees that the
court or arbitrator should narrow such provision so that it is enforceable or, if narrowing is not possible or permissible, such provision should be considered severed and the other provisions of this Award should be unaffected. 

(f) Participant agrees that (i) legal remedies (money damages) for any breach of the Restrictive Covenants in
Section 8 will be inadequate, (ii) the Company will suffer immediate and irreparable harm from any such breach, and (iii) the Company will be entitled to injunctive relief from a court in addition to any legal remedies the Company may
seek in arbitration. 
 (g) The Restrictive Covenants in this Award and the provisions regarding the forfeiture
of Restricted Stock Units and shares of Common Stock shall survive termination of the Restricted Stock Units. 

(h) The validity, construction and effect of this Award and any rules and regulations relating to this Award shall be
determined in accordance with the laws of the State of Minnesota (without regard to its conflict of law principles). 
 (i) It is intended that this Award and any amounts payable under this Award shall either be exempt from or comply with Section 409A of the Code (including the Treasury regulations and other published
guidance relating thereto) so as not to subject Participant to payment of any additional tax, penalty or interest imposed under Section 409A of the Code. The provisions of this Award certificate shall be construed and interpreted to avoid the
imputation of any such additional tax, penalty or interest under Section 409A of the Code yet preserve (to the nearest extent reasonably possible) the intended benefit payable to Participant. 

  
 11

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