Document:

EX-10.6

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 Exhibit 10.6 

 
  

MASTER SUPPLY AGREEMENT 
  

 
 between

 [***] 

-hereinafter referred to as [***]- 

and 
 POWERSECURE SOLAR,
LLC 
 1609 Heritage Commerce Court 

Wake Forest, NC 27587 
 -hereinafter
referred to as “Customer”- 
 [***] and Customer hereinafter jointly referred to as 

the “Parties” and individually as a “Party”. 

entered into on August 15, 2014 (“Effective Date”) 

[***] 

  

					
		  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 WHEREAS: 
  

	 	A.	[***] is a supplier of photovoltaic solar panels. 

  

	 	B.	Customer has signed an EPC Contract with the Owner for a [***] AC utility-scale project at [***] and will design DC capacity to [***] DC using [***] (“Project”). 

 

	 	C.	Customer desires to purchase [***] Products with the Product Specifications, under the terms and conditions as set out herein. 

NOW THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the sufficiency and receipt of which is
hereby acknowledged and, intending to be legally bound, the Parties agree as follows: 
  

	 	1.	DEFINITIONS 

  

			
	Additional Delay Liquidated Damages	  	shall mean United States Dollar twenty thousand (US$20,000) per calendar day.
		
	Agreement	  	shall mean this Master Supply Agreement.
		
	Affiliate	  	shall mean any company/entity which is owned or controlled directly or indirectly by a Party holding more than fifty percent (> 50%) of the issued share capital and/or voting rights of that company/entity, or which owns or
controls, directly or indirectly, more than fifty percent (> 50%) of the issued share capital and/or voting rights of a Party, or which is under the common control as the Party, where control shall mean the holding directly or indirectly of more
than fifty percent (> 50%) of the issued share capital and/or voting rights of that company/entity and the Party.
		
	Delay Liquidated Damages	  	shall mean United States Dollar twenty thousand (US$20,000) per calendar day.
		
	Deposit	  	shall have the meaning ascribed to it in Section 2.3.
		
	EPC Contract	  	shall mean the engineering, procurement and construction contract or agreement (or document of like nature by whatever name called) signed by Customer with the Owner for the development of the Project.
		
	Expiration Date	  	shall mean December 31, 2016.
		
	Incremental Deposit	  	shall have the meaning ascribed to it in Section 2.3.
		
	Owner	  	shall mean [***].
		
	Products	  	shall mean the photovoltaic modules each of which has [***] cells, and has a wattage of [***] supplied by [***] for the Project as more particularly set forth in the relevant Purchase Order.

  

					
	Master Supply Agreement – [***]	  	2	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

			
	Product Price	  	shall mean the price of the Products as agreed in accordance with Section 4 of this Agreement.
		
	Product Quantity	  	shall mean the quantity of Products to be supplied by [***] for the Project as more particularly set forth in the relevant Purchase Order.
		
	Product Specifications	  	shall mean the specifications of the Products set out in Schedule 1.1.
		
	Purchase Order	  	shall mean the document the form of which is attached as Schedule 3.1.
		
	Territory	  	shall mean North America.

  

	 	2.	SCOPE OF AGREEMENT 

 2.1 This Agreement shall govern all purchases of Products by
Customer for the Project during the Term. 
 2.2 Customer shall exclusively purchase the Products from [***] for the purpose of integration
of the Products into solar photovoltaic systems to be developed by the Customer for the Project to fulfill its obligations under the EPC Contract. Provided [***] does not default on the terms of this Agreement, Customer shall not purchase
photovoltaic solar panels from third parties for the Project without the prior approval of [***]. 
 2.3 Customer shall pay [***] a
non-refundable deposit (“Deposit”) equal to 7.5% of the total Product Prices of the Products, not later than September 15, 2014. If Owner does not issue a Notice To Proceed as defined in the EPC Contract prior to
October 15, 2014, Customer shall pay [***] an incremental non-refundable deposit equal to 2.5% of the total Product Prices of the Products (“Incremental Deposit”) by October 22, 2014 in order to extend Cancel End Date, as
defined in Section 3.3, to November 15, 2014. Time shall be of the essence for the receipt of the Deposit and Incremental Deposit by [***] failing which [***] shall be entitled to immediately terminate the Agreement or any Purchase Order
issued under the Agreement. 
 2.4 [***] shall furnish supply bond(s) equal to 100% of the total value of the Purchase Order issued by an A-
rated or better insurance company in the United States on terms set forth in Exhibit B and referenced in Sections 8.4 and 10.4. [***] shall furnish the supply bond(s) within five business days from the signing of this Agreement, in a form that is
acceptable to Customer and Customer’s surety, at their sole discretion. The cost of the supply bond(s) equal to [***] of the total Product Prices shall be borne by Customer and invoiced by and paid to [***] in accordance with the spreadsheet
set out in Exhibit D. 
  

	 	3.	PURCHASE ORDERS 

 3.1 Subject to the terms and conditions in this Agreement, the Parties
shall agree on and sign separate Purchase Orders which constitute a binding commitment for the Customer to purchase Products and for [***] to deliver such Products. 

3.2 The Parties explicitly agree that the terms and conditions of this Agreement shall govern all Purchase Orders and will prevail over any
additional or different terms and conditions of any kind contained in any standard business forms used by Customer. Any such additional or different terms and conditions provided by Customer shall not apply, even if [***] fails to expressly reject
such terms and conditions or if [***] confirms such terms and conditions without objection. 

  

					
	Master Supply Agreement – [***]	  	3	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 3.3 Purchase Order may be cancelled by Customer within ninety (90) days following [***]
receipt of Customer’s Deposit specified in Section 2.3, or November 15, 2014, whichever is earlier (“Cancel Period End”), without penalty, provided that [***] shall be entitled to retain the Deposit and Incremental
Deposit for its own benefit upon cancellation of the Purchase Order as set out in the following sentence. If Customer cancels Purchase Order prior to October 16, 2014, [***] shall be entitled to retain the Deposit of 7.5% for its own benefit
upon cancellation of the Purchase Order. If Customer cancels Purchase Order after October 15, 2014 and prior to the Cancel Period End, [***] shall be entitled to retain the total Deposit and Incremental Deposit of 10% for its own benefit upon
cancellation of the Purchase Order. 
 After the Cancel Period End, if the Customer cancels the Purchase Order: 

 

	 	(a)	[***] shall be entitled to retain the Deposit and Incremental Deposit for its own benefit upon cancellation of the Purchase Order; 

  

	 	(b)	Where the cancellation occurs within three (3) months prior to the scheduled delivery dates of the Products, Customer shall pay to [***] for the full Product Price of the Products of which the Purchase Order is
cancelled, within fourteen (14) days of the cancellation; and 

  

	 	(c)	Where the cancellation occurs earlier than three (3) months prior to the schedule delivery dates of the Products, Customer shall use its reasonable efforts to sell the Products allocated for the Customer under this
Agreement to third parties based on the prevailing market prices (“Third-Party Sale Price”). 

  

	 	(i)	Customer shall pay to [***] a cancellation charge of five per-cent (5%) of the Product Price plus the difference in the Product Price and the Third-Party Sale Price (if such Product Price exceeds the
Third-Party Sale Price) of the Products for which the Purchase Order is cancelled; or 

  

	 	(ii)	Where the sale of the Products to the third parties occur after four (4) weeks of the cancellation, Customer shall pay to [***] a cancellation charge of ten percent (10%) of the Product Price plus the
difference in the Product Price and the Third-Party Sale Price (if such Product Price exceeds the Third-Party Sale Price) of the Products for which the Purchase Order is cancelled, 

 

	 	  	Provided that the sum as determined in Section 3.3(a) and either Section 3.3(c)(i) or Section 3.3(c)(ii) shall not exceed 30% of the Product Price of the Products for which the Purchase Order is
cancelled. 

  

	 	3.4	The Parties agree and declare that the compensation to [***] as set out in Section 3.3 represents a genuine pre-estimate of the loss caused to [***] in the event of cancellation of Purchase Orders by Customer. The
compensation shall be payable by Customer to [***] within fourteen (14) days of the date of invoice by [***]. 

  

	 	3.5	Upon any cancellation as described in Section 3.3, [***] shall request a refund for the full amount of the cost/fee of the supply bond(s) as outlined in Section 2.4 from the surety or bonding broker engaged by
[***]. Amounts shall be reimbursed to Customer commensurate with any and all reimbursements issued to [***] by the surety or bonding broker. [***] shall not be obligated to pursue legal action against its surety or bonding broker in case it refuses
to refund all costs/fees. 

  

					
	Master Supply Agreement – [***]	  	4	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	4.	PRODUCT PRICES 

 4.1 The pricing for the Products (“Product Price”)
shall be US$231.36 per module. Where the Parties sign a Master Supply Agreement (“[***]”) for the supply of solar panels by [***] to the Customer for a utility-scale project of [***] at [***] within 14 days from the signing of this
Agreement, the Parties agree that Product Price shall be [***] per module. The Product Price, excluding the cost of bonding, as illustrated in Exhibit F for a project size of [***] is [***] for a single project or [***] if the [***] is also signed
within 14 days from the signing of this Agreement. These calculations are based on allocation of [***] watt panels and [***] watt panels. 

4.2 If the Customer asks for special transport (e.g. air freight) or non-standard volumes (e.g. one pallet), [***] is entitled to add its costs
in this connection to the invoice. A standard volume of Products is one full container. 
 4.3 Customer has the option to purchase spare
modules up to an additional one percent. (1%) of project capacity at the Product Price. 
  

	 	5.	DELIVERY 

 5.1 Products shall be delivered in accordance with DDP (Project Site)
Incoterms 2010 (“Delivery”). 
 5.2 Notwithstanding the above, [***] is entitled to charge the Customer for transport and
logistics handling separately and in addition to the cost of the Product as specified in the Purchase Order. 
 5.3 The Delivery schedule is
set [***] in Exhibit A, and subject to the agreement of both Parties, the Delivery dates may be adjusted by up to two (2) weeks. 
  

	 	6.	DELAY 

 6.1 [***] will as soon as reasonably possible inform Customer of any likely
delivery delays as well as expected new delivery date(s). 
 6.2 In the event of delayed Deliveries caused by the act or omission of [***],
[***] is entitled to a two-week grace period (“Grace Period”) for each Delivery milestone outlined in Exhibit A. Subject to the conditions set forth in Section 6.3: 

(a) If the Delivery is delayed more than two (2) weeks, [***] will pay Customer the Delay Liquidated Damages for each day of delay beyond
the Grace Period until Delivery is performed, up to the fifth (5th) week beyond the Grace Period. Delay Liquidated Damages for any further delay beyond the fifth (5th) week of Grace Period shall be payable by [***] provided that Customer is delayed in meeting its Substantial Completion requirements as set out in the EPC Contract; and 

(b) If Delivery is further delayed by an additional two weeks (28 calendar days in total) (“Additional Period”),
then [***] will pay Customer additional liquidated damages in the amount of the Additional Delay Liquidated Damages per day of delay beyond the Additional Period, provided that the Customer is unable to complete the Project(s) in accordance with the
EPC Contract and the Owner is unable to have the Project(s) Placed in Service (as defined in the EPC Contract) before 11:59PM on December 31, 2016. 

For the avoidance of doubt, the Delay Liquidated Damages and Additional Delay Liquidated Damages are separate and in turn additive to damages
to one another. The provisions in this Section 6.2 constitute Customer’s sole and exclusive remedy and [***] entire liability for delays of Delivery, and the Parties agree and declare that the liquidated damages above represent a genuine
pre-estimate of the loss caused by delayed Delivery. 

  

					
	Master Supply Agreement – [***]	  	5	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 6.3 The conditions referred to in Section 6.2 are: 

(a) The Delay Liquidated Damages and Additional Delay Liquidated Damages shall be chargeable against [***] arising from delay in Delivery
caused by the act or omission of [***] and not other factors such as Force Majeure or delay of Customer in performing its obligations under the EPC Contract; 

(b) The Delay Liquidated Damages shall not exceed the amount payable by the Customer to the Owner under the EPC Contract arising from the delay
in meeting its Substantial Completion requirements as set out in the EPC Contract; 
 (c) The Additional Delay Liquidated Damages shall not
exceed the amount payable by the Customer to the Owner under the EPC Contract arising from the inability of the Customer to complete the Project in accordance with the EPC Contract and the inability of the Owner to have the Project Placed in Service
(as defined in the EPC Contract) before 11:59PM on December 31, 2016; 
 (d) The aggregate of the Delay Liquidated Damages and
Additional Delay Liquidated Damages shall not exceed 20% of the Product Price of the Products under the Purchase Order in which the delay occurs; 

(e) Customer shall promptly notify [***] in writing after receipt of any claim for Delay Liquidated Damages or Additional Liquidated Damages
from the Owner that is based upon delayed Deliveries caused by the act or omission of [***] and [***] shall make itself available to Customer to participate in the negotiation, defense and settlement of the claim with the Owner; and 

(f) Customer shall attempt to mitigate the loss and damages incurred or that may be incurred arising from the delay in Delivery by [***]. 

6.4 In the event that Customer is in default of acceptance of a delivery of Products for more than two (2) full calendar weeks after the
agreed delivery date as set out in the Purchase Order (“Delay of Acceptance”), [***] shall be entitled to liquidated damages of one percent. (1)% of the Product Price to be accepted by Customer per full calendar week of Delay of
Acceptance; provided however that no such liquidated damages shall apply after the seventh (7th) week of Delay of Acceptance. Should acceptance be delayed by more than seven (7) weeks, [***]
shall have the right to cancel, upon written notification to Customer, the affected Purchase Order and [***] shall have the right to retain ownership of the Products and shall be compensated by Customer as set out in Section 3.3(c). If the
Delay of Acceptance only applies to part of the ordered Product Quantity, [***] right of cancellation shall only apply to such delayed quantity. 

6.5 [***] shall be entitled, with the prior consent of the Customer which consent shall not be unreasonably withheld, to vary the watt-class,
product specification or such other terms of the Purchase Order with respect to the Product to be delivered to Customer, with a corresponding adjustment in the Price of the Product to reflect the variation. For the avoidance of doubt, Customer shall
grant its consent to the variation if the following parameters of the Products are still complied with: 
 (a) [***] solar panels; 

(b) Watt class of not less than [***] watts for all units shipped and not less than [***] watts for [***] units; and 

(c) [***] V UL listed panels 

(d) Connectors: MC4 connectable 

(e) Dimensions: 77.5”x39”x1-3/4” 

(f) Temperature coefficient shall be no less than -.21%/C and no greater than -.39%/C 

(g) Isc @ STC shall not exceed 12.8A 

(h) Voc @ STC shall not exceed 46.2V 

  

					
	Master Supply Agreement – [***]	  	6	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	7.	INVOICING, PAYMENT, CREDIT 

 7.1 [***] shall issue invoices upon each Delivery of
Products, provided that if, without the Customer’s request or consent, [***] delivers the Products earlier than the scheduled delivery dates as set out in Exhibit A, [***] shall issue invoices for the Products on the scheduled delivery dates
stipulated in Exhibit A. Payment shall be effected in US Dollars and shall be due sixty (60) days after the date of [***] invoice. 

7.2 Save as provided under this Section 7.2, Customer shall pay all invoices without any set-offs or deductions, except for claims
undisputed or legally ascertained, and without any right of retention based on claims for or in connection with any other Products or deliveries. The Deposit and Incremental Deposit paid by Customer to [***] as set out in Section 2.3 in
relation to the invoiced amount shall be deducted from the invoice in accordance with the illustration set out in Exhibit D, until the total amount of the Deposit and Incremental Deposit paid by Customer to [***] is fully deducted for these
invoices. An illustration of the computation and invoicing of the Product Price is set out in Exhibit D. 
 7.3 Time shall be of the essence
for the receipt of payments by [***]. In the case of non-payment, late payment or incomplete payment an interest at a rate of twelve (12)% per annum shall apply from the due date until full and effective payment is made, based on 360 interest days
per year, or the highest applicable interest that is legal, whichever is lower. This interest rate shall only be charged if the reason for late payment is not due to [***] acts or omissions. The Parties agree the interest rate above represents a
genuine pre-estimate of the loss caused by delayed payment. 
 7.4 Any non-payment or late payment by the Customer under this Agreement
and/or [***] shall constitute a repudiatory breach of this Agreement and the [***] by the Customer and [***] reserves the right to, without incurring any liability: (a) stop, withhold and/or delay any shipments of Products ordered under this
Agreement and the [***] until full payment is received; (b) treat the respective Purchase Order as discharged and terminate the Purchase Order upon five (5) calendar days prior written notice; and (c) charge the Customer any
associated costs including without limitation, the charges for cancellation of the booking of vessels or warehouse facilities. 
 7.5 [***]
shall be entitled to conduct regular credit checks on the Customer. Should Customer (i) file a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency,
reorganization or similar law, or has any such petition filed or commenced against it, (ii) makes an assignment or any general arrangement for the benefit of creditors, or (iii) has a liquidator, administrator, receiver, trustee,
conservator or similar official appointed with respect to it or any substantial portion of its property or assets, then [***] may change the payment method or timelines set out above, including but not limited to requiring prepayment. 

7.6 The Customer shall provide to [***] a copy of the construction completion bond issued by the surety of the Customer to the Owner, as set
out in Exhibit E. 
  

	 	8.	INSPECTION OF PRODUCT 

 8.1 Upon receipt of each Delivery of Products, Customer shall
promptly perform an inspection of the package, the packing list, labeling and the Products in accordance with sound business practice. 
 8.2
Unless Customer notifies [***] of any non-conformances in writing within seven (7) business days after receipt of the respective Delivery, the delivered Products shall be deemed to be delivered as ordered and in conformance with the Agreement
between the Parties, and [***] 

  

					
	Master Supply Agreement – [***]	  	7	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 shall be released from any obligations or liability due to any Product defects which Customer
could reasonably have detected during the inspection; hidden defects which were not obvious at Delivery must be notified by Customer in writing without delay after their discovery and are subject to Section 10 of this Agreement. 

8.3 In case of a notice of non-conformance from the Customer, the Customer shall together with the notification submit documentary evidence of
the result of the Customer’s inspection, whereupon [***] shall have the right to undertake its own inspection. 
 8.4 Additionally, any
Supply Bond is automatically released upon Delivery of Products as defined in Section 8.1 and in compliance with Section 8.2., in proportion to the delivered products to the Product Quantity. Any Supply Bond will be released in full upon
delivery of the Product Quantity under this Agreement and defined in Section 8.1 and in compliance with Section 8.2. 
 8.5 [***]
will comply with the Owner’s quality assurance requirements shown in Exhibit G. 
  

	 	9.	RESERVATION OF TITLE, CONTINUING SECURITY INTEREST & LIEN RELEASE 

 9.1 To
secure the obligation of Customer to pay the amounts owed to [***] hereunder, Customer grants, and [***] shall retain, a continuing security interest in Product delivered but not paid for by Customer. [***] shall have the right to file UCC-1
financing statements for any such Products in which event Customer shall render assistance and provide information to [***] necessary and/or expedient for the filing. Anything to the contrary in this Agreement notwithstanding, as a condition to
payment by Customer for Products, [***] shall, upon payment by Customer, provide to Customer the following: (a) executed waivers of lien rights (“Lien Waivers”) from [***] terminating any and all mechanics’ and similar liens in
favor of [***] encumbering the Project or the real property of the Project; (b) UCC termination statements and releases terminating the security interest in the Product that is being paid for by Customer; and (c) such other forms and
agreements as may be reasonably requested by Customer or the Owner to confirm that the Product has been paid for and that title to the subject Product is free and clear of the liens and security interests of [***]. The documents and forms specified
in clauses (a) through (c) above shall be in form and substance as set out in Exhibit C. 
  

	 	10.	WARRANTIES 

 10.1 Subject to Section 8 and Section 12 of this Agreement, each
Product shall be delivered with, or be deemed to be delivered with, a manufacturer’s warranty certificate providing for certain end-user rights (“Limited Warranty Certificate”, the current version is attached to
Schedule 10.1). 
 10.2 THE WARRANTIES EXPRESSLY SET FORTH HEREIN SHALL NOT APPLY TO PRODUCTS FROM WHICH THE SERIAL NUMBERS HAVE BEEN
REMOVED OR TO CONDITIONS RESULTING FROM IMPROPER USE, ACCIDENTS, EXTERNAL CAUSES, INCLUDING INSTALLATION, RELOCATION, MODIFICATIONS NOT PERFORMED BY [***] OR OPERATION OUTSIDE THE ENVIRONMENTAL PARAMETERS SPECIFIED FOR THE PRODUCT. 

10.3 THE WARRANTIES EXPRESSLY SET FORTH HEREIN ARE IN LIEU OF AND EXCLUDE ALL OTHER WARRANTIES WITH RESPECT TO THE PRODUCT WHETHER EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO THE PERFORMANCE OF THE PRODUCTS, WARRANTIES OF MERCHANTABILITY, NON INFRINGEMENT, OR FITNESS FOR A PARTICULAR USE OR PURPOSE BY CUSTOMER OR ITS CUSTOMERS OR ANY OTHER PERSONS. 

10.4 Supply Bond(s) does not extend to warranty, and is automatically released in accordance with Section 8.4. 

  

					
	Master Supply Agreement – [***]	  	8	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	11.	INDEMNIFICATION 

 11.1 [***] shall defend Customer and Owner from and against any third
party claims that the Products, as provided by [***] infringe any third party’s United States patent, copyrights or trademarks issued as of the Effective Date (collectively, “Claims”). [***] shall further pay all amounts
payable to third parties in connection with any settlement or compromise of a Claim approved by [***] and pay all damages awarded to third parties relating to a Claim, including court costs and reasonable attorneys’ fees awarded. [***]
obligations under this Section 11 shall not apply to the extent (a) Customer has modified or altered the Products or has combined the Products with third party products not delivered by [***] if the alleged infringement would not have
arisen but for such combination, modification or alteration, or (b) use of the Products in an application or environment for which such materials were not designed or contemplated, or (c) such Claim arises from [***] compliance with any of
Customer’s specifications or requests, if the alleged infringement would not have arisen but for such compliance. If as a result of any Claim under this Section 11, Customer’s right to use the Products is enjoined, or if [***]
believes that the any such materials are likely to become the subject of a Claim, [***] may at its expense (A) procure for Customer the right to continue to use such materials, or (B) modify the materials so that it becomes non-infringing
and in a manner that does not materially diminish the quality or performance of such materials, or (C) if [***] is unable to accomplish either (A) or (B), [***] may reimburse Customer by refunding the purchase price reasonably depreciated.

 11.2 The obligations of [***] under this Section 11 shall be contingent upon Customer (a) providing prompt written notice to
[***] of any Claim; (b) permitting [***] to exclusively to defend, compromise, settle, or appeal any Claim, provided that Customer may participate in any such defense at its own cost and expense; and (c) assisting and cooperating with
[***] as reasonably requested by [***] to enable [***] to defend, compromise, settle, or appeal any Claim. 
 11.3 [***] cumulative liability
with respect to this Section 11, including defense costs, shall be subject to the limitations set forth in Section 12. This Section 11 states the entire liability of [***] and Customer’s sole remedy for claims of infringement or
misappropriation of intellectual or proprietary rights by Products supplied by [***]. 
 11.4 Customer shall indemnify, defend and hold
harmless [***] from and against all claims, actions, suits, demands, damages, liabilities, obligations, losses, settlements, judgments, costs and expenses (including without limitation reasonable attorney‘s fees and costs), whether or not
involving a third party claim, which arise out of, (a) Customer’s breach of this Agreement (b) Customer’s breach of any representation or warranty contained in this Agreement or (c) Customers acts or omissions under this
Agreement. 
 11.5 [***] shall indemnify, defend and hold harmless Customer and the Owner from and against all claims, actions, suits,
demands, damages, liabilities, obligations, losses, settlements, judgments, costs and expenses (including without limitation reasonable attorney‘s fees and costs), whether or not involving a third party claim, which arise out of, (a) [***]
breach of this Agreement (b) [***] breach of any representation or warranty contained in this Agreement or (c) [***] acts or omissions under this Agreement. 
  

	 	12.	LIMITATION OF LIABILITY 

 12.1 Subject to Section 12.5 below, each Party’s
total aggregate liability arising under this Agreement shall be limited to direct damages for an amount equalling the aggregate Prices for the Products delivered under this Agreement. 

12.2 NEITHER PARTY IS LIABLE BEYOND THE REMEDIES EXPRESSLY SET FORTH IN THIS AGREEMENT. TO THE MAXIMUM EXTENT PERMISSIBLE BY APPLICABLE LAW,
NEITHER PARTY NOR ANY OF ITS RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS SHALL BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, 

  

					
	Master Supply Agreement – [***]	  	9	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 PUNITIVE OR CONSEQUENTIAL DAMAGES ARISING FROM, RELATING TO, OR OCCURRING IN CONNECTION WITH
ANY BREACH OR OTHER ACT OR OMISSION OF THIS AGREEMENT OF ANY KIND WHATSOEVER, INCLUDING BUT NOT LIMITED TO USE OR INSTALLATION OF ANY PRODUCTS SOLD UNDER THIS AGREEMENT, LOST OR ANTICIPATED PROFITS, GOODWILL AND/OR BUSINESS LOSSES. THESE LIMITATIONS
APPLY REGARDLESS OF WHETHER THE BASIS OF THE LIABILITY IS BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY), STATUTES, OR ANY OTHER LEGAL THEORY. 

12.3 [***] OR ITS AFFILIATES, SHALL NOT BE LIABLE TO ANY OTHER PARTY TO (OR BENEFICIARY OF) THIS AGREEMENT FOR ANY (A) PUNITIVE, SPECIAL,
CONSEQUENTIAL, INCIDENTAL, OR INDIRECT DAMAGES, INCLUDING WITHOUT LIMITATION, LOSS PROFITS, ARISING FROM OR RELATED TO A BREACH OF THIS AGREEMENT OR ANY USE OF THE PRODUCT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY, EVEN IF [***] OR ITS
AFFILIATES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; (B) DAMAGES (REGARDLESS OF THEIR NATURE) FOR ANY DELAY OR FAILURE BY [***] TO PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT DUE TO ANY CAUSE BEYOND [***] REASONABLE CONTROL; OR
(C) CLAIMS MADE A SUBJECT OF A LEGAL PROCEEDING AGAINST [***] MORE THAN 6 MONTHS AFTER ANY SUCH CAUSE OF ACTION FIRST AROSE. 
 12.4 IF
ANY PROVISION WITHIN THIS SECTION IS HELD UNENFORCEABLE OR ILLEGAL BY A COURT OR OTHER BODY OF COMPETENT JURISDICTION, SUCH PROVISIONS SHALL BE MODIFIED TO THE MINIMUM EXTENT REQUIRED SUCH THAT THE REST OF THIS SECTION SHALL CONTINUE IN FULL FORCE
AND EFFECT. 
 12.5 The limitations of liability set forth in this Section 12 shall not apply to delays in Delivery according to
Section 6 and liabilities arising from [***] breaches of Section 11.1 and Section 14. 
 12.6 The limitation of liability set
forth in this Section 12 shall not apply to Customer’s payment obligations under this Agreement and liability arising from Customer’s breaches of Sections 7, 14 and 15. 

 

	 	13.	FORCE MAJEURE 

 Neither Party shall have responsibility to the other Party for
non-fulfilment or delays or additional costs in fulfilment of its obligations under the Agreement due to a Force Majeure Event. “Force Majeure Event” means any occurrence, non-occurrence or set of circumstances that
prevents a Party (or [***] Affiliates), in whole or in part, from performing any of its obligations or satisfying any conditions under this Agreement and that is beyond the reasonable control of such Party (or [***] Affiliates) and is not caused by
such Party’s negligence or lack of due diligence. The term Force Majeure Event shall not include: (a) changes in market conditions that affect the cost or availability of equipment, materials, supplies or services, unless such costs or
availability changes result directly from an event that would otherwise constitute a Force Majeure Event; (b) failures of [***] sub-suppliers, unless such failures are caused by an event that would otherwise constitute a Force Majeure Event if
experienced directly by [***] or (c) lack of finances. 
 Either Party who desires to declare Force Majeure Event shall notify the other
Party in writing of the reasons for non-fulfilment or delays in fulfilment of its obligations under the Agreement due to the intervention within fifteen (15) days of the occurrence of the Force Majeure Event, and shall propose to the other
Party any equitable remedy for such non-fulfilment or delays in fulfilment of its obligation under the Agreement. If the Force Majeure Event should continue beyond thirty (30) days, then the Parties shall meet to discuss and agree on how to
proceed, including whether any extension of time shall be granted to the affected Party to fulfil its obligations under this Agreement. 

  

					
	Master Supply Agreement – [***]	  	10	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	14.	CONFIDENTIALITY 

 14.1 During the term of the Agreement each Party (“Receiving
Party”) agrees to keep confidential and not to disclose to any third party the terms of the Agreement, nor any information relating to the Product or any other aspect of the other Party’s (“Disclosing Party”) business
practice or relationships, organization, technology, production methods or any other information that by its nature is confidential, proprietary or a trade secret (collectively, “Confidential Information”); provided, however, that
the Receiving Party may disclose the Disclosing Party’s Confidential Information to their respective employees, Affiliates, professional and financial advisors with a need to know, but solely in furtherance of the purposes of this Agreement,
and only if these parties have agreed to confidentiality provisions at least as protective as this Section 14. 
 14.2 Confidential
Information shall not include information that is (a) publicly available or later becomes available other than through a breach of this Agreement; (b) known to the Receiving Party prior to such disclosure or is independently developed by
the Receiving Party or its employees, agents, or representatives subsequent to such disclosure; (c) subsequently lawfully obtained by the Receiving Party or its employees, agents, or representatives from a third party without obligations of
confidentiality; or (d) required to be disclosed by law, regulation or by a governmental body or by any applicable stock exchange where the Parties or the Parties’ direct or indirect owners’ shares are listed. 

If the Receiving Party becomes aware of any unauthorized use or disclosure of the Confidential Information of the Disclosing Party, the
Receiving Party shall promptly and fully notify the Disclosing Party of all facts known to it concerning such unauthorized use or disclosure. In addition, if the Receiving Party or any of its employees or agents are requested or required (by oral
questions, interrogatories, requests for information or documents in legal proceedings, subpoena, civil investigative demand, or other similar process) to disclose any of the Confidential Information of the other Party, the Receiving Party shall not
disclose the Confidential Information without providing the Disclosing Party at least forty-eight (48) hours prior written notice of any such request or requirement so that the Disclosing Party may seek a protective order or other appropriate
remedy and/or waive compliance with the provisions of this Agreement. Notwithstanding the foregoing, the Receiving Party shall exercise its best efforts to preserve the confidentiality of the Confidential Information including, without limitation,
by cooperating with the Disclosing Party to obtain an appropriate protective order or other reliable assurance that confidential treatment will be accorded the Confidential Information by such tribunal. 

Unless otherwise authorized, upon the earlier of termination of this Agreement or request of the Disclosing Party, with respect to the
Disclosing Party’s Confidential Information, the Receiving Party shall promptly return or destroy such Confidential Information and provide certification to the Disclosing Party that all such Confidential Information has been returned or
destroyed. 
 14.3 The confidentiality obligations contained in this Section 14 shall survive any termination or expiration of this
Agreement (a) with respect to Confidential Information arising to the level of trade secrets under the applicable law, until such information no longer constitutes a trade secret; and (b) for a period of five (5) years following such
termination or expiration for all other Confidential Information. 
 14.4 Notwithstanding the other sub-sections of this Section 14, a
Party may, with the other Party’s prior written approval or with the joint participation of the other Party, issue press release or make public announcement or statement regarding this Agreement or the transactions contemplated under the
Agreement. 

  

					
	Master Supply Agreement – [***]	  	11	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	15.	INTELLECTUAL PROPERTY RIGHTS 

 15.1 Notwithstanding anything to the contrary contained in
this Agreement, all intellectual property rights (including but not limited to all rights in patents, copyrights and trade secrets) in the Products, in all jurisdictions, are vested in and shall remain vested in [***] or its Affiliates. 

15.2 Customer acknowledges that the Products contain valuable proprietary information and trade secrets, and that unauthorized dissemination,
distribution, modification, reverse engineering, disassembly, or unauthorized use of the Products could cause irreparable harm to [***] and its Affiliates, and thus agrees not to reverse engineer, disassemble, disclose, transfer, provide, or
otherwise make available in any form whatsoever the Products, the information therein, or any portion thereof, to any person or organization other than Customer’s employees on a strict need to know basis without the prior written consent of
[***]. 
 15.3 [***] and its Affiliates have the exclusive right, title and interest in its own trade names, trademarks, service marks and
logos (collectively, the “Trademarks”). All Products sold by Customer shall bear the Trademarks which Customer will not remove, alter or efface. Customer shall have no right under this Agreement to use the Trademarks without [***]
prior express written consent. All use of such Trademarks will inure solely to [***] benefit, and Customer hereby assigns to [***] all right, title and interest in the Trademarks, together with the goodwill attaching thereto, that may inure to
Customer in connection with this Agreement or from its use of the Trademarks hereunder. Products may contain patent numbers or other markings or designations which Customer shall not remove, alter or efface. 

 

	 	16.	TECHNICAL AND MARKETING PARTICIPATION 

 16.1 Customer may participate in the marketing
initiatives and programs implemented by [***] from time to time, including without limitation, the following: 
  

	 	•	 	Development by [***] of a case study profiling the use of Products by Customer 

  

	 	•	 	Referencing by [***] of the Customer’s name/location. 

  

	 	17.	TERM AND TERMINATION 

 17.1 This Agreement shall become effective as of the Effective
Date, and shall remain in effect initially until the Expiration Date, or otherwise terminated by the Parties in accordance with the provisions of this Agreement (“Term”). 

17.2 This Agreement may be terminated by a Party, with written notice, without prejudice to any other rights such Party may have, upon the
occurrence of either one or more of the following events stated below: 
 a) by either Party in the event that the other Party voluntarily
files a petition in bankruptcy or has such a petition involuntarily filed against it (which petition is not discharged within thirty (30) days after filing), or is placed in an insolvency proceeding, or if an order is issued appointing a
receiver or trustee or equivalent official or a levy or attachment is made against a substantial portion of its assets which order shall not be vacated, or set aside within thirty (30) days from date of issuance, or if any assignment for the
benefit of its creditors is made; 
 b) by either Party in the event that the other has failed in the performance of any material
contractual obligation herein contained or has otherwise breached this Agreement, provided that such default or breach is not remedied to the Party’s reasonable satisfaction within thirty (30) days after written notice to the other Party
specifying the nature of such default and requiring remedy of the same; 
 c) by Customer in the event [***] fails to perform the
obligations as set out in Section 2.4; or 

  

					
	Master Supply Agreement – [***]	  	12	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 d) by [***] in the event that Customer fails to pay the Deposit or Incremental Deposit to
[***] as required under Section 2.3. 
 17.3 Termination of this Agreement for any reason shall not affect any obligation which from the
context thereof is intended to survive the termination of this Agreement, including without limitation, Sections 1, 9, 10, 11, 12, 14, 15, 17, 18, 19, and 20 of this Agreement which shall continue to be binding upon the Parties to the extent stated
therein (where applicable). 
  

	 	18.	CHOICE OF LAW, DISPUTE RESOLUTION AND VENUE 

 18.1 The Parties agree that the validity,
construction and performance of this Agreement shall be governed by and construed in accordance with the laws of the United States of America and the State of [***] irrespective of its choice of law principles. The United Nations Convention on
Contracts for the International Sale of Goods (1980) shall not apply to or govern this Agreement or the performance thereof or any aspect of any dispute arising there from. 

18.2 Any legal action, suit proceeding or disputes arising from or relating to this Agreement or the breach thereof, including those disputes
relating to the validity, interpretation or termination of the Agreement which the managing directors of the Parties cannot amicably resolve within thirty (30) days, shall be finally settled according to the Arbitration Rules of the American
Arbitration Association (AAA) without recourse to the ordinary courts of law, except that the foregoing shall not prevent either Party from seeking temporary injunctive relief or similar from any competent court. The rules of the arbitral forum
shall be modified by the remainder of this Section 18. The arbitration will be conducted by a single arbitrator, selected by the mutual agreement of the Parties; provided, if the Parties fail to reach such mutual agreement within 30 days of the
receiving Party’s receipt of the notice of arbitration, then the selection of the single arbitrator shall be made by AAA. The place of arbitration shall be [***]. The costs of arbitration are to be shared equally by the Parties; provided the
arbitrator’s final award shall award to the prevailing Party its reasonable fees and costs (including, without limitation attorneys’ and other professionals fees and costs) incurred in connection with the arbitration to the extent the
arbitrator deems the Party to have prevailed (but if the prevailing Party is not awarded all of the damages sought, only to the extent, pro rata, of its award compared to the damages sought) and may grant such other, further and different relief as
authorized by the rules of the AAA (subject to the Section 12 of this Agreement). 
 18.3 Notwithstanding Section 18.2, [***]
agrees, if required by Customer in writing, to have the arbitration proceeding initiated pursuant to Section 18.2 consolidated with any other legal or arbitration proceedings involving Customer and Owner. In this regard, Clause 31.2 of the EPC
Contract, as set out below, shall apply: 
 “31.2 Governing Law; Venue; Submission to Jurisdiction. This Agreement shall be governed
by the laws of the [***] without regard to the laws regarding conflict of laws thereof that would require the laws of another jurisdiction to apply. The Parties irrevocably accept and submit to the jurisdiction of the federal courts (and in the
absence of jurisdiction therein the [***] courts) located in [***] with respect to any suit, action or proceeding in aid of arbitration, including an action for an order of interim, provisional or conservatory measures to maintain the status quo and
prevent irreparable harm and for recognition and enforcement of any award rendered by the arbitral tribunal, and the Parties irrevocably waive any objection to the laying of venue or defense that the forum is inconvenient with respect to any such
suit, action or proceeding for such purpose. The Parties’ right to apply for such judicial relief in aid of arbitration and the commencement of any such suit, action or proceeding in aid of arbitration shall not be deemed incompatible with, or
a waiver of, the Parties’ agreement to arbitrate. This consent to jurisdiction is being given solely for purposes of this Agreement, and it is not intended to, and shall not, confer consent to jurisdiction with respect to any other dispute in
which a Party may become involved. The Parties acknowledge and agree that terms and conditions of this Agreement have been freely, fairly and thoroughly negotiated.” 

  

					
	Master Supply Agreement – [***]	  	13	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

	 	19.	MISCELLANEOUS 

 19.1 No provision of the Agreement will or shall be deemed to create a
partnership, joint venture or other combination between [***] and Customer. [***] and Customer are independent contractors. Neither Party will make any warranties or representations or assume any obligations on the other Party’s behalf. Neither
Party is nor will it claim to be a legal representative, partner, franchisee, agent or employee of the other Party. Each Party is responsible for the amounts it incurs arising from the Agreement and for the direction and compensation, and is liable
for the actions of its employees and subcontractors. Customer shall indemnify and hold harmless [***] against any and all claims, legal actions, losses, damages, liabilities, costs and expenses incurred by [***] arising out of or relating to
(i) any misrepresentation by Customer under the Agreement, or (ii) death or injury to any person or damage to any property resulting from any product or part (a) not supplied by [***] or (b) supplied by [***] but changed,
modified, or adapted without [***] prior written authorization. 
 19.2 This Agreement does not confer or purport to confer any benefit or
right on any party that is not a Party to this Agreement to enforce any term of the Agreement. In the event that any provision of this Agreement, or the application thereof, becomes or is declared by an arbitration tribunal or court of competent
jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement shall continue in full force and effect and shall be interpreted so as reasonably to effect the intent of the Parties. The Parties shall use their reasonable best
efforts to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that shall achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision. 

19.3 This Agreement, including all exhibits, schedules, purchase orders, and annexes hereto contain the complete and entire agreement among the
Parties as to the subject matter hereof and replace and supersede any prior or contemporaneous communications, representations or agreements, whether oral or written, with respect to the subject matter of this Agreement. No modifications or
amendments of the Agreement shall be binding unless it is written and signed by the Parties. 
 19.4 Customer may not assign this Agreement
or any right or obligation hereunder may be assigned or otherwise transferred (whether voluntarily, by operation of law or otherwise), without the prior express written consent of [***]. Any permitted assignee shall assume all obligations of its
assignor under this Agreement. Any purported assignment or transfer in violation of this Section 19.4 shall be null and void. 
 19.5
All notices shall be written in English and served to the other Party’s respective representatives as set forth in Schedule 19.5 by e-mail, fax or courier to the addresses as provided in Schedule 19.5, including with reference to this
Agreement, the date of signature, the Parties and contact details. If any changes of the addresses occur, the Party, whose address has been changed, shall inform the other Party of the change of its address within ten (10) days after the
change. 
 19.6 This Agreement may be executed in counterparts, each of which shall be deemed an original but both of which, when taken
together, shall constitute one and the same instrument. The counterparts of this Agreement may be executed and delivered by facsimile or other electronic means by any of the Parties and the receiving party may rely on the receipt of such document so
executed and delivered by facsimile or other electronic means as if the original had been received. 
 19.7 The waiver by a Party of any
right hereunder, or of any failure to perform or breach by the other Party hereunder, shall not be deemed a waiver of any other right hereunder or of any other breach or failure by the other Party hereunder whether of a similar nature or otherwise.

  

					
	Master Supply Agreement – [***]	  	14	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 19.8 The Customer acknowledges that the Products may be subject to import and export control
laws and regulations of the United States and other foreign governments, and that the export, re-export, import or other transfer of the Products may require a license, license exception or other authorisation from relevant government agencies. The
Customer shall in all respects comply with all such laws and regulations and agrees to obtain all necessary United States and foreign government licenses, permits, certificates, approvals or other consents prior to any export, re-export, import or
other transfer of the Products. In such cases, Customer shall upon [***] request, promptly furnish [***] with any information pertaining to an end customer, destination and intended use of the Products. Notwithstanding Section 12, Customer
shall indemnify and hold harmless, [***] from and against any claim, proceeding, action, fine, loss, cost and damages arising out of or relating to any non-compliance with such export control laws. 

 

	 	20.	AGREEMENT DOCUMENTS AND ORDER OF PRIORITY 

 20.1 The Agreement consists of this
agreement document and the following Schedules: 
  

					
		  	 Exhibit A:
	  	Delivery Schedule
		  	 Exhibit B:
	  	Terms of Supply Bond
		  	 Exhibit C:
	  	Form of Lien Waivers, Release and Termination of Security Interests
		  	 Exhibit D:
	  	Illustration of Computation and Invoicing
		  	 Exhibit E:
	  	Construction Completion Bond issued to Owner
		  	 Exhibit F:
	  	Illustration of Product Price Calculation
		  	 Exhibit G:
	  	Owner Quality Assurance Requirements
		  	 Schedule 1.1:
	  	Product Specifications
		  	 Schedule 3.1:
	  	Form of Purchase Order
		  	 Schedule 10.1:
	  	Limited Warranty Certificate
		  	 Schedule 19.5:
	  	Representatives of the Parties

  

	 	20.2	In the event of a conflict between the terms and conditions of the Agreement and any of the Schedules set forth above, the Schedule shall control. 

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement: 
  

			
	 [***]

		
	By:	 	 [***]

		 	 [***]

		 	 [***]

		 	 [***]

  

			
	POWERSECURE SOLAR, LLC
		
	By:	 	 [***]

		 	 [***]

		 	 [***]

		 	 [***]

  

					
	Master Supply Agreement – [***]	  	15	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT A — DELIVERY SCHEDULE 

GUARANTEED DELIVERY DATES 
 Delivery Dates
And Quantities Required For [***]: 
  

									
	 	  	Delivery Start	 	  	Complete By	 
	 PV Modules Delivery 1 ([***] MW PV Modules)
	  	 	9/7/15	  	  	 	9/11/15	  
	 PV Modules Delivery 2 ([***] MW PV Modules)
	  	 	10/12/15	  	  	 	10/16/15	  
	 PV Modules Delivery 3 ([***] MW PV Modules)
	  	 	11/16/15	  	  	 	11/20/15	  
	 PV Modules Delivery 4 ([***] MW PV Modules)
	  	 	12/21/15	  	  	 	12/25/15	  
	 PV Modules Delivery 5 ([***] MW PV Modules)
	  	 	1/25/16	  	  	 	1/29/16	  

 The Delivery Dates may be changed upon the agreement of the Parties. 

  

					
	Master Supply Agreement – [***]	  	16	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT B — TERMS OF SUPPLY BOND 

  

					
	 [***]
	  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

  
 

 
 SUPPLY CONTRACT BOND

Bond No.
 KNOW ALL MEN BY THESE PRESENTS, That we, [***] as
Principal, (hereinafter called the Supplier), and Atlantic Specialty Insurance Company, as Surety, (hereinafter called Surety, are held and firmly bound unto Power Secure, as Obligee, (hereinafter called the Buyer), in the just and
full sum of
                                        
($                    ) For the payment of which sum, well and truly to be made, the said Supplier and Surety bind themselves, and their
respective heirs, administrators, executors, successors and assigns, jointly and severally firmly by these presents. 
 WHEREAS, the Supplier has entered
into a certain written contract with the Buyer dated _______, 20     to furnish the following briefly described supplies: 

Which contract is hereby referred to and made a part hereof as fully and to the same extent as if copies at length herein. 

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if the said Supplier shall fully indemnify and reimburse the Buyer for any loss that he/she
(they, it) may suffer through the failure of the Supplier to furnish said supplies in accordance with the terms of said contract, at the time(s), and in the manner therein specified, then this obligation shall be void; otherwise it shall remain in
full force and effect. 
 PROVIDED HOWEVER, it shall be a condition precedent to any right of recovery hereunder, that in event of any default on the part
of the Supplier, a written statement of the particular facts showing the date and nature of such default shall be immediately delivered to the Surety by certified mail at its office In: 77 Water Street, 17th Floor, New York, NY 10005 

AND PROVIDED FURTHER that no action, suit or proceeding shall be had or maintained against the Surety on this instrument unless the same be brought or
instituted and process served upon the Surety on or before the last date of delivery of the solar panels under the contract plus one month. 
 IN WITNESS
WHEREOF, the said Supplier and Surety have signed and sealed this instrument this 
 Sealed with our seals and dated this
        day of             , 
  

											
		 		 		 		 	  

						
		 		 		 		 	(Principal)	 	(Seal)
					
		 		 		 		 	  

						
		 		 		 		 	(Title)	 	
					
		 	  
	 		 		 	
						
		 	(Witness)	 		 		 		 	

  

											
		 		 		 		 	  

						
		 		 		 		 	(Surety)	 	(Seal)
					
		 		 		 		 	  

						
		 		 		 		 	(Title)    Attach valid Corporate Power of Attorney Form	 	
					
		 	  
	 		 		 	
						
		 	(Witness)	 		 		 		 	

  

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT C — FORM OF LIEN WAIVERS, RELEASE AND TERMINATION OF SECURITY INTERESTS 

EXHIBIT C1 — SUBCONTRACTOR’S WAIVER AND RELEASE UPON FINAL PAYMENT 

  

					
	Master Supply Agreement – [***]	  	2	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT F-4 

SUBCONTRACTOR’S WAIVER AND RELEASE UPON FINAL PAYMENT 

By executing and submitting its payment application and the lien waiver below, in consideration for the final payment described in the lien
waiver below, and for the purpose of inducing Contractor and the Owner to make final payment, the Subcontractor or Supplier, for itself, its employees, subcontractors, sub-subcontractors, mechanics, materialmen and laborers, does hereby represent
and warrant as follows: 
  

	1.	All Parties Paid. Upon receipt of the amount set forth in the lien waiver below, it has been paid in full all amounts owed for all materials or labor furnished to the Project, and that all parties supplying labor
or materials to it in connection with the Project have been paid in full for all labor, services, equipment or materials ordered or supplied. 

  

	2.	Warranty Of Work. It warrants that all work, labor and materials furnished by or through it are free from defects and fully comply with all requirements of the plans, specifications, subcontract, the Agreement
and all documents related thereto. 

  

	3.	Waiver Of Claims. Upon receipt of the amount set forth in the lien waiver below, it waives and releases any and all payment claims, causes of action, suits, damages, judgments, demands of any kind, character and
description, whether known or unknown, against the Contractor, the Contractor’s Surety, the Owner, any construction lender, and their respective directors, officers, principals, partners, employees, agents, subsidiaries, parent and related
firms, successors and assigns, arising out of or pertaining in any manner to the Subcontract, the Agreement, the property described below, or the Project. 

  

	4.	Authorization. It warrants that it is the sole owner of the payment claims released herein, that it has not sold, assigned or conveyed such claims to any other party, and that the individual whose signature
appears below has personal knowledge of these matters and is fully authorized and qualified to make these representations on behalf of the Subcontractor or Supplier. 

 

	5.	Scope Of Release. The representations, waiver and release contained herein are independent covenants and operate, and are effective, final and binding and shall not be invalidated by any future occurrence or
claim by any person or entity, including any trustee acting on behalf of any person, entity or bankrupt estate. 

 WAIVER
AND RELEASE UPON FINAL PAYMENT 
 STATE OF [***] 

COUNTY OF
                                     

THE UNDERSIGNED MECHANIC AND/OR MATERIALMAN HAS BEEN EMPLOYED BY
                                 (“CONTRACTOR”) TO FURNISH
                                         
                        (DESCRIBE MATERIALS AND/OR LABOR) FOR THE CONSTRUCTION OF IMPROVEMENTS KNOWN AS
                                
                                 (TITLE OF THE PROJECT OR BUILDING), WHICH IS LOCATED
IN THE CITY OF                                 , COUNTY OF , AND IS OWNED BY [***]
(“OWNER”), AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
  

 
  

 
  

 
 (DESCRIBE THE PROPERTY UPON WHICH THE IMPROVEMENTS
WERE MADE BY USING EITHER A METES AND BOUNDS DESCRIPTIONS, THE LAND LOT DISTRICT, BLOCK AND LOT NUMBER, OR STREET ADDRESS OF THE PROJECT.) 

  

					
		  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 UPON THE RECEIPT OF THE SUM OF
$            , THE MECHANIC AND/OR MATERIALMAN WAIVES AND RELEASES ANY AND ALL LIENS OR CLAIMS OF LIENS IT HAS UPON THE FOREGOING DESCRIBED PROPERTY OR ANY RIGHTS AGAINST ANY LABOR
AND/OR MATERIAL BOND ON ACCOUNT OF LABOR OR MATERIALS, OR BOTH, FURNISHED BY THE UNDERSIGNED TO OR ON ACCOUNT OF SAID CONTRACTOR FOR SAID PROPERTY. 

GIVEN UNDER HAND AND SEAL THIS              DAY OF
            ,         . 
  

	
	   

	Subcontractor/Supplier

  

			
	By:	 	 
		 	

  

			
	Printed Name:	 	 
		 	

  

			
	Its:	 	 
		 	

 Sworn and subscribed before me this             

 day of             , 201        .

  

	
	   

	Notary Public
	My Commission Expires:

 NOTICE: [***] 

  

					
		  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT C2 – SUPPLIER RELEASE OF UNIFORM COMMERCIAL CODE SECURITY INTEREST 

  

					
	Master Supply Agreement – [***]	  	3	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 

 
 UCC FINANCING STATEMENT AMENDMENT 
FOLLOW
INSTRUCTIONS 
A. NAME & PHONE OF CONTACT AT FILER (optional) 
B.
E-MAIL CONTACT AT FILER (optional) 
C. SEND ACKNOWLEDGMENT TO: (Name and Address) 
THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 
1a. INITIAL FINANCING STATEMENT FILE NUMBER

1b. This FINANCING STATEMENT AMENDMENT is to be filed [for record] 
(or
recorded) in the REAL ESTATE RECORDS 
Filer: attach Amendment Addendum (Form UCC3Ad) and provide Debtor’s name in item 13 
2. TERMINATION: Effectiveness of the Financing Statement identified above is terminated with respect to the security interest(s) of Secured Party authorizing this Termination
Statement 
3. ASSIGNMENT (full or partial): Provide name of Assignee in item 7a or 7b, and address of Assignee in item 7c and name of Assignor in item 9 For partial
assignment, complete items 7 and 9 and also indicate affected collateral in item 8 
4. CONTINUATION: Effectiveness of the Financing Statement identified above with
respect to the security interest(s) of Secured Party authorizing this Continuation Statement is continued for the additional period provided by applicable law 
5.
PARTY INFORMATION CHANGE: 
Check one of these two boxes: 
AND Check one of
these three boxes to: 
CHANGE name and/or address: Complete 
ADD name: Complete
item 
DELETE name: Give record name 
This Change affects Debtor or Secured
Party of record 
item 6a or 6b; and item 7a or 7b and item 7c 
7a or 7b, and
item 7c 
to be deleted in item 6a or 6b 
6. CURRENT RECORD INFORMATION:
Complete for Party Information Change—provide only one name (6a or 6b) 
6a. ORGANIZATION’S NAME 
OR 6b. INDIVIDUAL’S SURNAME 
FIRST PERSONAL NAME 
ADDITIONAL NAME(S)/INITIAL(S) 
SUFFIX 
7. CHANGED OR ADDED INFORMATION: Complete for Assignment or Party Information Change—provide only one name (7a or 7b) (use exact, full name; do not omit, modify, or abbreviate
any part of the Debtor’s name) 
7a. ORGANIZATION’S NAME 
OR 7b.
INDIVIDUAL’S SURNAME 
INDIVIDUAL’S FIRST PERSONAL NAME

INDIVIDUAL’S ADDITIONAL NAME(S)/INITIAL(S) 
SUFFIX 
7c. MAILING ADDRESS 
CITY 
STATE POSTAL CODE 
COUNTRY 
8. COLLATERAL CHANGE: Also check one of these four boxes: 
ADD collateral 
DELETE collateral 
RESTATE covered collateral 
ASSIGN collateral 
Indicate collateral: 
9. NAME OF SECURED PARTY OF RECORD AUTHORIZING THIS AMENDMENT: Provide only one name (9a or 9b) (name of Assignor, if this is an Assignment) 
If this is an Amendment authorized by a DEBTOR, check here 
and provide name of authorizing
Debtor 
9a. ORGANIZATION’S NAME 
OR 9b. INDIVIDUAL’S SURNAME

FIRST PERSONAL NAME 
ADDITIONAL NAME(S)/INITIAL(S) 
SUFFIX 
10. OPTIONAL FILER REFERENCE DATA: 
International Association of Commercial Administrators (IACA) 
FILING OFFICE COPY — UCC
FINANCING STATEMENT AMENDMENT (Form UCC3) (Rev. 04/20/11) 

  

					
		  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 Instructions for UCC Financing Statement Amendment (Form UCC3) 

Please type or laser-print this form. Be sure it is completely legible. Read and follow all Instructions, especially Instruction 1a; correct file number of
initial financing statement is crucial. 
 Fill in form very carefully; mistakes may have important legal consequences. If you have questions, consult your
attorney. The filing office cannot give legal advice. 
 Send completed form and any attachments to the filing office, with the required fee. 

ITEM INSTRUCTIONS 
 A and B. To assist filing offices that
might wish to communicate with filer, filer may provide information in item A and item B. These items are optional. 
  

	C.	Complete item C if filer desires an acknowledgment sent to them. If filing in a filing office that returns an acknowledgment copy furnished by filer, present simultaneously with this form the Acknowledgment Copy or a
carbon or other copy of this form for use as an acknowledgment copy. 

 Always complete items 1a and 9. 

 

	1a.	File Number. Enter file number of initial financing statement to which this Amendment relates. Enter only one file number. In some states, the file number is not unique; in those states, also enter in item
1a, after the file number, the date that the initial financing statement was filed. 

  

	1b.	If this Amendment is to be filed in the real estate records or in any other filing office where the name of current Debtor is required for indexing purposes, check the box in item 1b and enter Debtor name in item
13 of Amendment Addendum (Form UCC3Ad). Complete item 13 in accordance with instructions on Amendment Addendum (Form UCC3Ad). If Debtor does not have an interest of record, enter the name and address of the record owner in item 16 of Amendment
Addendum (Form UCC3Ad). 

 Note: Show purpose of this Amendment by checking box 2, 3, 4, 5, or 8 (in items 5 and 8 you must
check additional boxes); also complete items 6, 7, and/or 8 as appropriate. Some, but not all filing offices accept multiple actions on an Amendment. Filing offices that accept multiple actions may charge an additional fee. Some filing offices that
accept multiple actions may only index one of the actions requested. Consult the administrative rules of the designated filing office to determine the extent to which multiple actions will be accepted, indexed, and the applicable filing fees for
multiple actions. 
  

	2.	Termination. To terminate the effectiveness of the identified financing statement with respect to the security interest(s) of authorizing Secured Party, check box in item 2. See Instruction 9 below.

  

	3.	Assignment. To assign (1) some or all of Assignor’s right to amend the identified financing statement, or (2) the Assignor’s right to amend the identified financing statement with respect to
some (but not all) of the collateral covered by the identified financing statement: Check box in item 3 and enter name of Assignee in item 7a or 7b; always enter the Assignee’s mailing address in item 7c. Also enter name of Assignor in
item 9. If assignment affects the right to amend the financing statement with respect to some (but not all) of the collateral covered by the identified financing statement, check the ASSIGN collateral box and indicate the particular collateral
covered in item 8. 

  

	4.	Continuation. To continue the effectiveness of the identified financing statement with respect to the security interest(s) of authorizing Secured Party, check box in item 4. See Instruction 9 below.

  

	5-7.	Party Information Change. To indicate a party information change, check this box; also check additional boxes (as applicable) and complete items 5, 6, and/or 7 as appropriate. 

To change the name and/or address of a party (items 5, 6, and 7): Check box in item 5 to indicate whether this Amendment relates
to a Debtor or Secured Party of record; and check the CHANGE name and/or mailing address box in item 5 and enter name of affected party (current record name) in item 6a or 6b; and repeat or enter the new name in item 7a or 7b; always enter
the party’s mailing address in item 7c. 
 To add a party (items 5 and 7): Check box in item 5 to indicate whether this
Amendment relates to a Debtor or Secured Party of record; and check the ADD name box in item 5 and enter the added party’s name in item 7a or 7b; always enter the party’s mailing address in item 7c. For additional Debtors or Secured
Parties, attach Amendment Additional Party (Form UCC3AP), using correct name format. 
 To delete a party (items 5 and 6):
Check box in item 5 to indicate whether this Amendment relates to a Debtor or Secured Party of record; and check the DELETE name box in item 5 and enter the deleted party’s name in item 6a or 6b. 

 

	8.	Collateral Change. To indicate a collateral change, check this box; also check additional box (as applicable) and describe the change in item 8. 

If space in item 8 is insufficient, continue collateral description in item 14 of Amendment Addendum (Form UCC3Ad). Do not include social
security numbers or other personally identifiable information. 
 To add collateral: Check the ADD collateral box in item 8 and
indicate the additional collateral. 
 To delete collateral: Check the DELETE collateral box in item 8 and indicate the deleted
collateral. A partial release is a DELETE collateral change. 
 To restate covered collateral description: Check the RESTATE covered
collateral box in item 8 and indicate the restated collateral. 
 To assign the right to amend the financing statement with respect to
part (but not all) of the collateral covered by the identified financing statement: Comply with Instruction 3 above and check the ASSIGN collateral box in item 8. 

If, due to a full release of collateral, filer no longer claims a security interest under the identified financing statement, check box in item
2 (Termination) and not a box in item 8 (Collateral Change). 
  

	9.	Name of Authorizing Party. Enter name of party of record authorizing this Amendment. In most cases, the authorizing party is the Secured Party of record. If this is an Amendment (Assignment), enter
Assignor’s name in item 9a or 9b. If this is an Amendment (Termination) authorized by a Debtor, check the box in item 9 and enter the name of the Debtor authorizing this Amendment in item 9a or 9b. If this Amendment (Termination) is to be filed
or recorded in the real estate records, also enter, in item 12 of Amendment Addendum (Form UCC3Ad), the name of Secured Party of record. If there is more than one authorizing Secured Party or Debtor, enter additional name(s) in item 14 of Amendment
Addendum (Form UCC3Ad). 

  

	10.	Optional Filer Reference Data. This item is optional and is for filer’s use only. For filer’s convenience of reference, filer may enter in item 10 any identifying information that filer may find useful.
Do not include social security numbers or other personally identifiable information. 

  

					
		  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT D — ILLUSTRATION OF COMPUTATION AND INVOICING OF THE PRODUCT PRICE 

  

					
	Master Supply Agreement – [***]	  	4	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

																									
	 	  	[***] & [***] Signed with 14 days of one another ($0.01/W Discount)	 
	 	  	Scenario A (Deposit Paid)	 	  	Scenario B (Deposit + Incremental Deposit Paid)	 
	 Panel Allocation:
	  	 	Quantity	  	 	 	Wattage Class	  	  	 	Capacity (Wdc)	  	  	 	$/W	  	 	 	Product Price	  	  	 	Price $	  
	 [***] Quantity
	  	 	41,760	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 [***] Quantity
	  	 	95,760	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	 				  	  
	  
	 	  				 				  	  
	  
	 
	 Net Price
	  	 	137,520	 	 				  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Cost of Supply Bond
	  				 				  				  				 	 	[***]	  	  	 	[***]	  
		  				 				  				  				 				  	  
	  
	 
	 Total Price to Customer
	  				 				  				  				 				  	$	31,706,501.76	  
		  				 				  				  				 				  	  
	  
	 
	 Deposit % of Net Price
	  	 	7.50	% 	 				  				  	 	10.00	% 	 				  			
	 Deposit $s
	  	 	2,354,443.20	  	 				  				  	 	3,139,257.60	  	 				  			
						
	Pro-form Invoice Schedule:	  	 				  				  				 				  			
	 	  	Gross Invoice	 	 	Deposit Applied	 	  	Net Amount	 	  	Gross Invoice	 	 	Deposit Applied	 	  	Net Amount	 
	 Deposit
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Upfront 50% Bond Payment
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Incremental Deposit
	  	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 1
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 2
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 3
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 4
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 5
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	[***]	  	 	 	[***]	  	  	 	31,706,501.76	  	  	 	[***]	  	 	 	[***]	  	  	 	31,706,501.76	  
		  				 				  	  
	  
	 	  				 				  	  
	  
	 

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

																									
	 	  	Single Project (No Discount)	 
	 	  	Scenario C (Deposit Paid)	 	  	Scenario D (Deposit + Incremental Deposit Paid)	 
	 Panel Allocation:
	  	 	Quantity	  	  	 	Wattage Class	  	  	 	Capacity (Wdc)	  	  	 	$/W	  	 	 	Product Price	  	  	 	Price $	  
	 [***] Quantity
	  	 	41,760	  	  	 	[***]	  	  	 	[***]	  	  	 	[	***] 	 	 	[***]	  	  	 	[***]	  
	 [***] Quantity
	  	 	95,760	  	  	 	[***]	  	  	 	[***]	  	  	 	[	***] 	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	  				  	  
	  
	 	  				 				  	  
	  
	 
	 Net Price
	  	 	137,520	 	  				  	 	[***]	  	  	 	[	***] 	 	 	[***]	  	  	 	[***]	  
	 Cost of Supply Bond
	  				  				  				  				 	 	[***]	  	  	 	[***]	  
		  				  				  				  				 				  	  
	  
	 
	 Total Price to Customer
	  				  				  				  				 				  	 	[***]	  
		  				  				  				  				 				  	  
	  
	 
	 Deposit % of Net Price
	  	 	[***]	  	  				  	 	[***]	  	  	 	[	***] 	 				  			
	 Deposit $s
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[	***] 	 				  			
						
	Pro-form Invoice Schedule:	  	  				  				  				 				  			
	 	  	Gross Invoice	 	  	Deposit Applied	 	  	Net Amount	 	  	Gross Invoice	 	 	Deposit Applied	 	  	Net Amount	 
	 Deposit
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Upfront 50% Bond Payment
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Incremental Deposit
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 1
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 2
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 3
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 4
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Delivery 5
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  				  				  	  
	  
	 	  				 				  	  
	  
	 

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

EXHIBIT E — CONSTRUCTION COMPLETION BOND ISSUED TO OWNER 

  

					
	Master Supply Agreement – [***]	  	5	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

Bond No. 929597781 
 Document
A312TM—2010 
 Conforms with The American Institute of Architects AIA Document 312 

Performance Bond 
  

					
	 CONTRACTOR:
 (Name, legal status and
address)
	  	 SURETY:
 (Name, legal status and
principal place of business)
	  	
	PowerSecure Solar, LLC	  	Western Surety Company	  	
	1609 Heritage Commerce Court	  	333 S. Wabash Ave.	  	 This document has important legal

consequences. Consultation with
 an attorney is encouraged
with
 respect to its completion or modification.

	Wake Forest NC 27587	  	Chicago IL 60604	  
		  	Mailing Address for Notices	  
		  	333 S. Wabash Ave.	  
			
	OWNER:	  	Chicago IL 60604	  	 Any singular reference to

Contractor, Surety, Owner or
 other party shall be considered

plural where applicable.

	(Name, legal status and address)	  		  
	 [***]
	  		  
	 [***]
	  		  
	 [***]
	  		  	
			
	CONSTRUCTION CONTRACT	  		  	
	Date: July 7, 2014	  		  	
			
	Amount:	  		  	
			
	 Description:
 (Name and
location)
	  		  	
	EPC Agreement-[***] Engineer, Procure and Construct turnkey advanced solar generation plant
			
	BOND	  		  	
	Date: July 7, 2014	  		  	
	(Not earlier than Construction Contract Date)	  		  	
			
	Amount:	  		  	
			
	Modifications to this Bond: x None	  	 ̈ See Section 16	  	
			
	CONTRACTOR AS PRINCIPAL	  	SURETY	  	
	Company: (Corporate Seal)	  	Company: (Corporate Seal)	  	
	PowerSecure Solar, LLC	  	Western Surety Company	  	
			
	Signature: /s/ CHRISTOPHER T. HUTTER	  	Signature: /s/ Manlyn A. Blome	  	
	Name       CHRISTOPHER T. HUTTER	  	Name        Manlyn A. Blome	  	
			
	and Title: CHIEF FINANCIAL OFFICER	  	and Title: Attorney-in-act	  	
	
	 (Any additional signatures appear on the last page of this Performance Bond.)

(FOR INFORMATION ONLY — Name, address and telephone)

			
	AGENT or BROKER:	  	OWNER’S REPRESENTATIVE:	  	
	Nielson, Blome & Associates	  	(Architect, Engineer or other party:)	  	
	131 Park of Commerce Way, Suite 500	  		  	
	Savannah GA 31405	  		  	
	912-233-6260	  		  	
	S-1862/AS 8/10	  		  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 § 1 The Contractor and Surety, jointly and severally, bind themselves, their heirs, executors,
administrators, successors and assigns to the Owner for the performance of the Construction Contract, which is incorporated herein by reference. 
 § 2
If the Contractor performs the Construction Contract, the Surety and the Contractor shall have no obligation under this Bond, except when applicable to participate in a conference as provided in Section 3. 

§ 3 If there is no Owner Default under the Construction Contract, the Surety’s obligation under this Bond shall arise after 

 

	 	.1	the Owner first provides notice to the Contractor and the Surety that the Owner is considering declaring a Contractor Default. Such notice shall indicate whether the Owner is requesting a conference among the Owner,
Contractor and Surety to discuss the Contractor’s performance. If the Owner does not request a conference, the Surety may, within five (5) business days after receipt of the Owner’s notice, request such a conference. If the Surety
timely requests a conference, the Owner shall attend, Unless the Owner agrees otherwise, any conference requested under this Section 3.1 shall be held within ten (10) business days of the Surety’s receipt of the Owner’s notice.
If the Owner, the Contractor and the Surely agree, the Contractor shall be allowed a reasonable time to perform the Construction Contract, but such an agreement shall not waive the Owner’s right, if any, subsequently to declare a Contractor
Default; 

  

	 	.2	the Owner declares a Contractor Default, terminates the Construction Contract and notifies the Surety; and 

  

	 	.3	the Owner has agreed to pay the Balance of the Contract Price in accordance with the terms of the Construction Contract to the Surety or to a contractor selected to perform the Construction Contract. 

§ 4 Failure on the part of the Owner to comply with the notice requirement in Section 3.1 shall not constitute a failure to comply with a condition
precedent to the Surety’s obligations, or release the Surely from its obligations, except to the extent the Surety demonstrates actual prejudice. 

§ 5 When the Owner has satisfied the conditions of Section 3, the Surety shall promptly and at the Surety’s expense take one of the following
actions: 
 §5.1 Arrange for the Contractor, with the consent of the Owner, to perform and complete the Construction Contract; 

§ 5.2 Undertake to perform and complete the Construction Contract itself, through its agents or independent contractors; 

§ 5.3 Obtain bids or negotiated proposals from qualified contractors acceptable to the Owner for a contract for performance and completion of the
Construction Contract, arrange for a contract to be prepared for execution by the Owner and a contractor selected with the Owner’s concurrence, to be secured with performance and payment bonds executed by a qualified surely equivalent to the
bonds issued on the Construction Contract, and pay to the Owner the amount of damages as described in Section 7 in excess of the Balance of the Contract Price incurred by the Owner as a result of the Contractor Default; or 

§ 5.4 Waive its right to perform and complete, arrange for completion, or obtain a new contractor and with reasonable promptness under the circumstances:

  

	 	.1	After investigation, determine the amount for which it may be liable to the Owner and, as soon as practicable after the amount is determined, make payment to the Owner; or 

 

	 	.2	Deny liability in whole or in part and notify the Owner, citing the reasons for denial. 

 § 6 If the
Surety does not proceed as provided in Section 5 with reasonable promptness, the Surety shall be deemed to be in default on this Bond seven days after receipt of an additional written notice from the Owner to the Surety demanding that the
Surety perform its obligations under this Bond, and the Owner shall be entitled to enforce any remedy available to the Owner. If the Surety proceeds as provided in Section 5.4, and the Owner refuses the payment or the Surety has denied
liability, in whole or in part, without further notice the Owner shall be entitled to enforce any remedy available to the Owner. 
 S-1862/AS 8/10 

  

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 § 7 If the Surety elects to act under Section 5.1, 5.2 or 5.3, then the responsibilities of (he
Surely to the Owner shall not be greater than those of the Contractor under the Construction Contract, and the responsibilities of the Owner to the Surety shall not be greater than these of the Owner under the Construction Contract, Subject to the
commitment by the Owner to pay the Balance of the Contract Price, the Surely is obligated, without duplication, for 
  

	 	.1	the responsibilities of the Contractor for correction of defective work and completion of the Construction Contract; 

  

	 	.2	additional legal, design professional and delay costs resulting from the Contractor’s Default, and resulting from the actions or failure to act of the Surely under Section 5; and 

 

	 	.3	liquidated damages, or if no liquidated damages are specified in the Construction Contract, actual damages caused by delayed performance or non-performance of the Contractor. 

§ 8 If the Surety elects to act under Section 5.1, 5.3 or 5.4, the Surety’s liability is limited to the amount of this Bond. 

§ 9 The Surety shall not be liable to the Owner or others for obligations of the Contractor that are unrelated to the Construction Contract, and the
Balance of the Contract Price shall not be reduced or set off on account of any such unrelated obligations, No right of action shall accrue on this Bond to any person or entity other than the Owner or its heirs, executors, administrators, successors
and assigns. 
 § 10 The Surely hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts,
purchase orders and other obligations. 
 § 11 Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent
jurisdiction in the location in which the work or part of the work is located and shall be Instituted within two years after a declaration of Contractor Default or within two years after the Contractor coased working or within two years after the
Surety refuses or falls to perform its obligations under this Bond, whichever occurs first. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiction of
the suit shall be applicable. 
 § 12 Notice to the Surely, the Owner or the Contractor shall be mailed or delivered to the address shown on the page
on which their signature appears. 
 § 13 When this Bond has been furnished to comply with a statutory or other legal requirement in the location where
the construction was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirement shall be deemed
incorporated herein, When so furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. 
 § 14
Definitions 
 § 14.1 Balance of the Contract Price. The total amount payable by the Owner to the Contractor under the Construction Contract after all
proper adjustments have been made, including allowance to the Contractor of any amounts received or to be received by the Owner in settlement of insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and
proper payments made to or on behalf of the Contractor under the Construction Contract. 
 § 14.2 Construction Contract. The agreement between the
Owner and Contractor identified on the cover page, including all Contract Documents and changes made to the agreement and the Contract Documents. 
 §
14.3 Contractor Default. Failure of the Contractor, which has not been remedied or waived, to perform or otherwise to comply with a material term of the Construction Contract. 

§ 14.4 Owner Default. Failure of the Owner, which has not been remedied or waived, to pay the Contractor as required under the Construction Contract or
to perform and complete or comply with the other material terms of the Construction Contract. 
 § 14.5 Contract Documents. All the documents that
comprise the agreement between the Owner and Contractor. 
 § 15 If this Bond is issued for an agreement between a Contractor and subcontractor, the
term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. 
 S-1862/AS 8/10 

  

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT F — ILLUSTRATION OF PRODUCT PRICE CALCULATION 

 

													
	Single Project Price:	  	 	 	 	 	 	  	 	 
	 	  	Allocation	 	 	Quantity	 	  	Capacity (W)	 
	 [***] panels
	  	 	30.4	% 	 	 	41,760	 	  	 	[***]	  
	 [***] panels
	  	 	69.6	% 	 	 	95,760	 	  	 	[***]	  
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total panels
	  	 	100	% 	 	 	137,520	 	  	 	[***]	  
				
	 	  	Price	 	 	Cost per unit	 	  	Cost per W	 
	 Product Price $s [***]
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Product Price $s [***]
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	 				  			
	 Total Product Price
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
				
	Two Project Price:	  	 	 	 	 	 	  	 	 
	 	  	Allocation	 	 	Quantity	 	  	Capacity (W)	 
	 [***] panels
	  	 	30.4	% 	 	 	41,760	 	  	 	[***]	  
	 [***] panels
	  	 	69.6	% 	 	 	95,760	 	  	 	[***]	  
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total panels
	  	 	100	% 	 	 	137,520	 	  	 	42,422,400	 
				
	 	  	Price	 	 	Cost per unit	 	  	Cost per W	 
	 Product Price $s [***]
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
	 Product Price $s [***]
	  	 	[***]	  	 	 	[***]	  	  	 	[***]	  
		  	  
	  
	 	 				  			
	 Total Product Price
	  	 	31,392,576	 	 	 	[***]	  	  	 	[***]	  

  

					
	Master Supply Agreement – [***]	  	6	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 EXHIBIT G — OWNER QUALITY ASSURANCE REQUIREMENTS 

  

					
	Master Supply Agreement – [***]	  	7	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

			
	MTR - Appendix G	  	[***]

  
 SQAR-2

 SUPPLIER QUALITY ASSURANCE REQUIREMENTS 

(REV. 14, 06/06/2012) 
  

	1.0	SCOPE 

 SQAR-2, Supplier Quality Assurance Requirements, establishes the minimum quality
program requirements the Supplier shall comply with when providing the specified equipment, material, and/or services to the Purchaser but does not limit/preclude any other requirements the Purchaser may establish in other documents. 

 

	2.0	GENERAL 

 The quality assurance requirements described in this document, the surveys,
audits, and surveillances, or the absence or lack thereof or deficiency therein, shall in no way relieve the Supplier (Contractor) of any contractual obligations or responsibilities. 

All documents, including drawings and specifications, are considered part of the purchase order (PO) requirements when specified or referenced.
Document revisions are effective as of the PO issue date unless otherwise stated. 
  

	3.0	SUPPLIER’S QUALITY PROGRAM 

 The Supplier of the specified equipment, material,
and/or services shall establish, document, and maintain a quality program that meets the requirements of this SQAR document and provides any additional controls necessary to ensure compliance with the Purchaser’s procurement documents. 

The Supplier’s quality program shall identify the Supplier’s representative authorized to resolve quality matters. The
Supplier’s inspectors shall be personnel other than those performing the work and who do not report directly to supervisors responsible for production. 

Subcontractors, subsuppliers, and manufacturing locations not included in the Supplier’s proposal must be approved in writing by the
Purchaser. The Purchaser may require review and approval of manufacturing facilities and/or quality programs of subsuppliers and/or subcontractors in some cases. The Supplier shall be responsible for ensuring the quality of all equipment, material,
and/or services obtained from subsuppliers or work performed by subcontractors meets the requirements of the Purchaser’s procurement documents. All applicable requirements of the Purchaser’s procurement documents shall be provided to the
subsuppliers or subcontractors. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 1 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	3.1	Supplier’s Quality Manual 

 The Supplier shall have a quality manual that has been
reviewed, approved, and signed by a Supplier’s senior management official. The Supplier shall periodically review and update the manual to reflect current quality policies and procedures. The period for review may be established by the
Supplier’s management but is not to exceed 2 years. The manual shall contain, but is not limited to, the following: 
  

	3.1.1	Quality Organization 

 The manual shall define the organizational structure of the
Supplier, with particular emphasis on the quality assurance/quality control (QA/QC) organization. The QA/QC responsibilities shall be defined. The manual shall include an organizational chart that identifies the QA/QC organization. This chart shall
identify the reporting level to a sufficiently high level of management that quality problems can be resolved without undue influence from production or scheduling processes. 
  

	3.1.2	Documented Procedures 

 The Supplier shall have documented procedures for the following
functions, as applicable. These procedures shall provide for appropriate controls with objective evidence to verify the controls have been satisfactorily performed. The procedures shall be included in the Supplier’s quality manual or described
and referenced in the manual. 
  

	3.1.2.1	Design 

 The Supplier shall have procedures that control the design process, including
design review, to ensure applicable design criteria, codes, regulations, standards, and contractual requirements are correctly translated into specifications, drawings, procedures, and instructions that clearly and precisely reflect the requirements
of the procurement documents. Design changes, including field changes, shall be subject to the same measures applied to the original design. Design documents shall reflect the final as-built conditions as provided by the Supplier. 

 

	3.1.2.2	Procurement Control 

 The Supplier shall have procurement controls that ensure purchased
equipment, materials, and/or services meet the Purchaser’s specifications. These controls shall include the procedures for evaluation of the capabilities and reliability of subsuppliers’ and subcontractors’ items the Purchaser
considers could have a significant quality impact on the end product. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 2 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	3.1.2.3	Document Control 

 The Supplier shall have measures to control the issuance of and
changes to documents such as instructions, specifications, POs, procedures, and drawings. The Supplier shall ensure documents are reviewed for adequacy, approved for release by authorized personnel, and distributed to the appropriate work
location(s). The Supplier shall ensure changes to documents receive the same level of review, approval, and distribution as the original documents. All changes shall be processed in writing, and all obsolete documents shall be removed promptly from
all points of issue and use or be adequately marked to identify their status. 
  

	3.1.2.4	Material Control 

 The Supplier shall have a material control system that identifies each
item (lot, component, or part) to prevent improper use. Such identification shall relate the item to its design drawing, specification, or other descriptive information throughout its production, receipt, installation, repair, and/or modification.

 Throughout the manufacturing process, materials shall be controlled to prevent improper or inadvertent use. 

 

	3.1.2.5	Inspection and Testing 

 The Supplier shall have an inspection program that includes
receiving, in-process, and final inspections. Procedures used to control inspections shall include the characteristics to be inspected, examined, or tested and the acceptance criteria used. 

The Supplier shall include, as part of the inspection program, the necessary documentation of the inspection activities by use of forms,
reports, tags, or other suitable means. 
  

	 	•	 	Receiving inspection shall include checking of material verification documents and physical examinations of the material/equipment. 

  

	 	•	 	In-process inspection shall include necessary verification that procedures for special processes are being used when applicable and that physical examinations of the material/equipment are being conducted.

  

	 	•	 	Final inspection shall include verification that all required records and documents are complete and that physical examination of the material/equipment has been made. 

The Supplier shall have a system to indicate the inspection status of each item being inspected by use of stamps, tags, travelers, or other
suitable means. The system shall contain provisions for mandatory hold points that may be required by the Supplier, Purchaser, or Authorized Inspector. 

If testing is required, the Supplier shall have documented testing procedures and shall perform the tests to ensure the end product meets the
requirements of the procurement documents. Test results shall be documented and made available to the Purchaser. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 3 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	3.1.2.6	Nonconforming Items and Corrective Action 

 The Supplier shall have procedures for
identifying and controlling nonconforming items. These procedures shall establish personnel responsibilities and authority for disposition of those items. The procedures shall also establish methods for investigating each nonconformance and
initiating corrective action to prevent recurrence. These measures shall also establish methods to verify repair, rework, or disposal of the nonconforming items and the subsequent reinspection and/or retesting as required to ensure compliance with
procurement documents. Records shall be maintained to document the nature, extent, and disposition of the nonconforming items and the corrective action to prevent recurrence. The Purchaser shall have access to such records. 

 

	3.1.2.7	Quality Records 

 The Supplier shall have procedures for identifying quality records
(such as material test reports or inspection records) to be maintained and/or retained. The quality record procedures shall indicate the personnel responsible for retrieval, retention, and disposition of quality records. 

 

	3.1.2.8	Control and Calibration of Measuring and Test Equipment 

 At prescribed intervals or
prior to each use, all measuring and testing equipment and devices used for inspection or testing shall be calibrated and adjusted against certified equipment having a known valid relationship to nationally recognized standards. When no national
standards exist, the basis employed for calibration shall be documented. The Supplier shall identify measuring and test equipment and provide a tag, sticker, or other suitable means to show the calibration status. The Supplier shall maintain testing
and calibration records and make them available to the Purchaser. 
 The Supplier shall have a process for verifying the confidence of the
measurement methods used. A measurement method is not defined as the capability of the measurement device, but rather the method in which the measurement device is used. The Supplier must identify variables of the measurement methods, which may
include variables of personnel, chosen measurement devices, and how the part is secured in the measuring device. This process shall document that the measurement method is proven to be repeatable and reproducible using methods such as gauge
repeatability and reproducibility (R&R). 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 4 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	3.1.2.9	Control of Manufacturing and Special Processes 

 Manufacturing activities affecting the
quality of the specified equipment, material, and/or service shall be prescribed by documented instructions, procedures, or drawings of a type appropriate to the circumstances and shall be accomplished in accordance with these documents. These
documents shall include appropriate quantitative or qualitative criteria for determining that the prescribed manufacturing activities have been satisfactorily accomplished. 

The Supplier shall establish written procedures to provide controls to ensure special processes (such as welding, heat-treating, and nondestructive examination [NDE]) are accomplished under controlled conditions by qualified personnel and equipment. Both procedures and equipment shall be used in accordance with the applicable
codes, standards, and specifications. The Supplier shall maintain documentation for currently qualified personnel, processes, and equipment according to the requirements of applicable codes and standards. The actual process procedures, such as
welding procedures and associated qualifications, should not be a part of the quality manual. 
 The Supplier shall have processes in place
to verify controls of manufacturing equipment. The process shall establish target settings with control specification limits. The process shall include a verification process to ensure correct equipment settings prior to production runs. The process
may include use of product measurement data to determine process control of the manufacturing equipment. 
  

	3.1.2.10	Preventive Maintenance 

 The Supplier shall have a program in place to identify,
schedule, and manage all preventive maintenance activity on equipment that affects quality. This program should have documented records of preventative maintenance plans versus actual activity. 

 

	3.1.2.11	Handling, Storing, Packaging, and Shipping 

 The Supplier shall establish and maintain a
system for handling, storing, preserving, packaging, and shipping all materials and equipment from the time of receipt through the manufacturing process to protect the quality of products and prevent damage, deterioration, or loss. The system shall
include provisions for protection and identification of the product until delivery to the Purchaser. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 5 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	4.0	QUALITY PROGRAM DOCUMENTATION 

  

	4.1	Documentation Required with Proposal: Quality Manual 

 Within 30 days of
Notice-to-Proceed with manufacturing or as designated in the Vendor Document Submittal Schedule (VDSS), the Supplier shall submit to the Purchaser a current and uncontrolled copy of the Supplier’s quality manual, described in 3.1,
Supplier’s Quality Manual, applicable to the work to be accomplished. If requested by the Purchaser, the Supplier is also required to submit a copy of the Supplier’s quality manual at other times. In lieu of submitting additional manuals,
the Supplier may reference previous Purchaser-approved quality manuals, including revision number, revision date, and Purchaser’s project. 

The Purchaser may elect not to retain a copy of the Supplier’s quality manual after the PO has been placed. 

 

	4.2	Documentation Required Upon Delivery: Quality Documentation List 

 If required by
procurement documents, the Supplier shall prepare and deliver a documentation package to the construction site or operating plant. During preparation for final inspection and shipment, the Supplier shall compile the documentation package as defined
in the General Specifications, Supplemental Specifications, and/or VDSS. The documentation package shall be a bound document with covers, tabs, and an index showing the documents contained therein. Any items referenced in the procurement documents
not applicable to the order shall be listed in the index and indicated as not applicable (N/A). The Supplier shall maintain a copy of the documentation package for a minimum of 3 years after delivery of the equipment, material, and/or services. The
specifications may require electronic submitals, which shall meet the same format requirements noted above. If not specifically addressed in the purchase documents, one bound copy and one electronic copy will be submitted at final shipment. The
documentation package shall be submitted in accordance with requirements included in the specifications, which may specify delivery of a bound copy to a physical address or an electronic copy uploaded to an electronic document depository such as
PIMS. 
 Before releasing shipments for delivery, the Purchaser’s quality representative (if shop surveillance is performed) will review
the required quality documentation package, along with the records and reports contained in it. Upon completion of his or her review, the Purchaser’s quality representative will sign and date the cover page or index. In the case of multiple
shipments, a single documentation package included with the last shipment may be acceptable, providing this single package does not conflict with requirements contained in the procurement documents. Any documents required in the documentation
package to be reviewed and signed by the quality representative during the course of surveillance activities shall have the signed copy included in the documentation package submitted to the Purchaser. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 6 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	5.0	QA SURVEYS, AUDITS, AND SURVEILLANCE 

  

	5.1	General 

 The Purchaser or its authorized representative shall be provided free access to
the Supplier’s and/or subsuppliers’ facilities to conduct QA surveys, audits, surveillance/inspections, and to witness tests. This access shall be provided at no additional cost to the Purchaser. The Supplier shall cooperate with the
Purchaser in the performance of this work. 
  

	5.2	QA Surveys 

 A QA survey to evaluate the Supplier’s facilities and quality
capabilities may be conducted at any time, but will normally be made before the PO is awarded or prior to the start of manufacturing. Subsuppliers’ facilities shall also be subject to QA surveys by the Purchaser. 

 

	5.3	QA Audits 

 The Supplier’s quality program shall be subject to auditing by the
Purchaser. Such audits will vary depending upon the Supplier’s performance, past records, the results of surveillance, and other factors. The Supplier shall respond to all audit findings in writing within 30 days after receipt of the audit
report. The audit report will provide instructions for responding to audit findings. Responses to reports of nonconforming items shall be documented and corrective action accomplished within a timetable agreed upon by the Purchaser and the Supplier.
Subcontractors shall also be subject to audit by the Purchaser. 
  

	5.4	Quality Surveillance 

  

	5.4.1	General 

 Quality surveillance shall be defined as the selective review, observation, and
evaluation of processes, procurement, manufacturing operations, testing, material, equipment, quality systems, and programs to determine the Supplier’s compliance with the Purchaser’s procurement documents. 

The Supplier’s and any subsupplier’s and/or subcontractor’s work and procedures shall be subject to surveillance by the
Purchaser or any authorized representative of the Purchaser. Surveillance and inspections shall be performed at the Purchaser’s discretion and may include, but are not limited to, the preestablished witness and hold points defined in the
contract documents. The Purchaser reserves the right to follow the progress of the work and the manner in which it is performed. 
 Any
defects found during surveillance or tests shall be repaired by the Supplier at no extra cost to the Purchaser. The Purchaser shall have the authority to reject materials or suspend any work not being performed in accordance with the
Purchaser’s specifications. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 7 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	5.4.2	Initial Visit 

 Prior to the start of manufacturing, the Purchaser’s quality
representative may perform an initial surveillance visit (initial visit) with the Supplier and review the procurement documents and surveillance requirements. During this visit, the Purchaser’s quality representative and the Supplier will
review the witness and hold points schedule established by the procurement documents. 
  

	5.4.3	Manufacturing Schedule 

 The Supplier shall provide a manufacturing schedule to the
Purchaser through e-mail 30 days after award of the PO. The schedule shall be in a format agreed upon by the Purchaser. E-mail addresses will be supplied in the Supplemental Specifications, but shall include [***]. At a minimum, the manufacturing
schedule shall include the following: 
  

	 	•	 	Shop order number. 

	 	•	 	Purchaser’s plant name. 

	 	•	 	Unit number. 

	 	•	 	Section or component. 

	 	•	 	Witness and hold points as required by the Purchaser. 

 The Supplier shall issue an updated
manufacturing schedule to the Purchaser when monthly schedule changes are made. The Supplier shall notify the Purchaser of any delays during fabrication and shall have approval before changing fabrication schedule. 

In addition to the requirements stated above, the Supplier shall provide a current copy of the Supplier’s schedule to the Purchaser’s
quality representative at the initial visit to be used to schedule the surveillance activities. This schedule shall include all witness and hold points established in the Supplier’s inspection and test plan (ITP) and any additional
preestablished witness and hold points specified in the Purchaser’s procurement documents and/or initial visit. 
  

	5.4.4	Manufacturing Procedures 

 Documented manufacturing procedures and special processes
shall be available for review by the Purchaser’s quality representative prior to the start of the manufacturing process. 
  

	5.4.5	Surveillance Notification 

 Witness and hold points are critical steps in the
manufacturing and testing of equipment. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 8 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

witness point – A point, also called an observation point, that provides the Purchaser with the opportunity to witness the
inspection or test or aspect of the work at the Purchaser’s discretion. The Purchaser’s quality representative may elect to waive the right to observe the witness point, but the Supplier is not thereby relieved of quality responsibilities.
Manufacturing may proceed if the Purchaser’s quality representative waives a preestablished witness point or if the Purchaser’s representative is not present after the Purchaser was notified of witness point as required by section
5.4.5. 
 hold point – A point beyond which work may not proceed without the authorization of the Purchaser. Manufacturing
shall not proceed if the Purchaser’s quality representative is not present to observe a preestablished hold point that has not been previously waived in writing by the Purchaser. 

The Purchaser’s quality representative shall have notification from the Supplier in sufficient time (a minimum of 5 working days for North
American facilities, and a minimum of 10 working days for facilities outside North America) to ensure witness or hold points may be observed. The Supplier shall notify the Purchaser via e-mail to, but not limited to, the following address: [***].
The Supplier shall schedule work to ensure witness and hold points do not occur on weekends or U.S. national holidays. The Supplier is also responsible for ensuring the Purchaser is notified of witness and hold points performed by subsuppliers. 

The Purchaser reserves the right to establish additional witness and hold points during the course of the work if quality concerns become
evident. These additional witness points shall be provided at no additional cost to the Purchaser. 
  

	5.4.6	Quality Surveillance Deficiency Report 

 When deficiencies are found in the
Supplier’s quality program or quality of work, the Purchaser or the Purchaser’s representative may issue a quality surveillance deficiency report (QSDR) to the Supplier. The Supplier must formally respond to the QSDR within 10 days of
issuance with a proposed plan of action or action taken. The Supplier’s response shall be sent to [***] as well as the Purchaser’s representative. If circumstances require, the Supplier may be instructed not to proceed with the next step
in manufacturing until resolution of the QSDR and signoff by the Purchaser. Release-for-shipment shall not be granted for any material/equipment affected by an open
QSDR. 
  

	5.4.7	Supplier Requests for Deviations From Quality Requirements 

 After award of an order and
prior to incorporating any deviation to the specifications or the PO in the final design or fabrication of the product, the Supplier shall request and obtain written approval of the deviation from the Purchaser. The request for approval shall be
made using form titled Vendor Deviation Request, which is required to be submitted and processed through [***] as otherwise designated for projects not using [***]. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 9 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 
  

 

	5.4.8	Release for Shipment 

 If the requirements of these procurement documents have not been
fulfilled, the Purchaser’s quality representative shall have the authority to refuse release of shipment. Shipments not properly released by the Purchaser’s quality representative shall be subject to return to the Supplier at the
Supplier’s expense. Normal payment may be withheld until the problem is resolved. 

  

							
	[***] – SUPPLIER QUALITY ASSURANCE REQUIREMENTS
	Originator: Vendor Quality Manager	 	Document No.: [***]	  	    Revision: 14 [06/06/12]    	  	    Page 10 of 10    

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 SCHEDULE 1.1 – PRODUCT SPECIFICATIONS 

  

					
	Master Supply Agreement – [***]	  	8	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

[***] 

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 SCHEDULE 3.1 – FORM OF PURCHASE ORDER 

In addition to the terms set out in the Agreement, the following specific terms and conditions shall apply for this Purchase Order. 

 

			
	Description of Products (incl. manufacturer part numbers):	  	 [***]

		
	Purchase Price:	  	 [***] (for single project) or US$31,392,576 (for both projects)

DDP construction site [***]
  

All taxes, fees and other public charges incurred upon and as a result of the Delivery shall be paid by Customer and shall be the sole responsibility of
Customer.
  
 The Product Price is exclusive of any and all taxes, Value Added Tax, and
Goods and Services Tax. To the extent that [***] is obligated to pay any such taxes to any authority, the amount paid shall be reimbursed by Customer upon [***] invoicing, on ordinary agreed payment terms.]

		
	Quantity(-ies) of Products to be delivered:	  	 [***]

		
	Delivery Dates:	  	 Delivery Date means the date of Delivery of the Products by [***] set forth in this Purchase Order. The Delivery Date for the Products shall
be
 See delivery schedule attachment

		
	Ship-to address of project construction site:
Delivery terms:	  	 [***]
  

[***] may deliver Products prior to the Delivery Date and may make partial deliveries of the Products. The risk of loss and damage to Products shall pass to
Customer on Delivery.
  
 DDP construction site [***]

 
 Customer shall be deemed to have taken delivery of the Products on the Delivery Date even
if Customer or its freight forwarded carriers, fails to physically take delivery of the Products on or after the Delivery Date, in which event Customer shall, in addition to the Product Price, be liable to compensate [***] for the costs incurred by
[***] arising from such failure, including without limitation, storage, transportation and man-handling costs.

		
	Miscellaneous (if applicable):	  	Payment please see spreadsheet showing payment schedule

  

					
	Master Supply Agreement – [***]	  	9	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 By completing this Purchase Order, the Customer agrees to purchase, and [***] agrees to deliver, Products on
the term and conditions set out in the Agreement and in this Purchase Order. 
  

									
	Date:	 		 		 	Date:	 	
			
	[***]	 		 	 POWERSECURE SOLAR, LLC

	By:	 	   
	 		 	By:	 	 [***]

	Name:	 		 		 	Name:	 	 [***]

	Title:	 		 		 	Title:	 	 [***]

  

					
	Master Supply Agreement – [***]	  	10	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 

 SCHEDULE 10.1 – LIMITED WARRANTY CERTIFICATE 

  

					
	Master Supply Agreement – [***]	  	11	  	

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

Page 1/2 
  

[***] 
 Limited Warranty
Certificate for 
 [***]1 

(valid as of September 1, 2011) 
 This
Limited Warranty covers all modules with the [***] Peak Energy name (as defined above) sold after September 1, 2011 or later and is valid only in North America, Central America and South
America2. 
 [***] (hereafter the ‘Warrantor’ or [***]) issues the following voluntary
warranty to the end-user who purchased the Productin one of the above mentioned countries and put the Product into use for the first time (the ‘Original End-User’). In addition to the rights under this Limited Warranty, the Original
End-User may be entitled to statutory warranty rights under applicable national laws which shall not be affected or limited in any way by this Limited Warranty. 
  

	I.	Product Warranty 

 Subject to the terms and conditions of this Limited Warranty, [***] warrants that the
Products: 
  

	 	•	 	Are free from defects in material and workmanship for a period of 10 years from the date of purchase by the Original End-User (not exceeding a maximum period of 10.5 years from the date of production as identified on
the Product) (the ‘Warranty Period’) if installed and used in accordance with the installation instructions available to download from www. recgroup.com. 

 

	 	•	 	Will remain safe and operational if cable and connector plugs are installed professionally and are not permanently positioned in water; provided however, that damage to the cable caused by abrasion on a rough surface
due to insufficient fixing or to unprotected running of the cable over sharp edges is excluded. Damage caused by animals is also excluded. 

  

	 	•	 	Will not experience freezing up of the aluminum frames if installed correctly. 

 The outer appearance of the
Product, including scratches, stains, rust, mould, discoloration and other signs of normal wear and tear, which occurred after delivery or installation, do not constitute defects, provided the functionality of the Product is not affected. Glass
breakage constitutes a defect only if not caused by any external influence. 
 If a defect occurs during the Warranty Period affecting the functionality of
the Product, [***] will, at its sole option: 
  

	 	•	 	Repair the defective Product. 

  

	 	•	 	Replace the Product with an equivalent product. 

  

	 	•	 	Refund the current market price of an equivalent product at the time of the claim. 

  

	II.	Power Output Warranty 

 Subject to the terms and conditions of this Limited Warranty, [***] warrants that
the actual power output of the Product will reach at least 97% of the nameplate power out specified on the Product during the first year (calculated from the date of production as identified on the Product). From the second year, the actual power
output will decline annually by no more than 0.7% for a period of 24 years, so that by the end of the 25th year, an actual output of at least 80.2% of the nameplate power out specified on the Product will be achieved. 

This Power Output Warranty covers only reduced performance due to natural degradation of the glass, the solar cell, the embedding foil, the junction box
and interconnections under normal use. 
 If the Product does not reach the warranted power output levels set out above when measured by the Warrantor
or by an independent measuring institute agreed to prior to testing by the Warrantor, under standard test conditions (IEC 61215) and taking into account a ±3% tolerance range, then [***] will, at its sole option: 

 

	 	•	 	Repair the Product 

  

	 	•	 	Replace the Product with an equivalent product or to supply additional modules as necessary to achieve the warranted percentage of specified power output. 

 

	 	•	 	Refund the current market price of an equivalent product at the time of the claim 

  

	1	excluding modules showing “Q3” as part of the product name. 

	2	Defined as all member states of the Organization of American States, OAS. 

  

			
	Rev. G.3, 06.12	  	This warranty is only applicable in the member states of the Organization of American States, OAS

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

Page 2/2 
  
  

	III.	Warranty Conditions, Limitations and Exclusions 

  

	1.	This Limited Warranty is not transferable by the Original End-User, except to a subsequent owner of the solar power facility at which the Product was originally installed and remains installed, provided that this solar
power facility has not been altered in any way or moved from the structure or property at which it was originally installed. 

  

	2.	Notification of a warranty claim hereunder must be given without undue delay after detection of the defect and prior to the expiration of the applicable Warranty Period and in accordance with the procedure as set out in
section IV below. 

  

	3.	Please note that this Limited Warranty does not cover, nor will the Warrantor reimburse, any on-site labor or other costs incurred in connection with the de-installation or removal of defective Products, transport or
the reinstallation of replaced or repaired Products or any components. 

  

	4.	The Warrantor may use remanufactured or refurbished parts or products when repairing or replacing any Products under this Limited Warranty. Any exchanged or replaced parts or Products will become the property of [***].
The Warranty Periods set out in sections I. and II. above will not be extended in any way in the event of a replacement or repair of a Product. 

  

	5.	This Limited Warranty requires that the Product is installed according to the latest safety, installation and operation instructions provided by [***] and does not apply to damage, malfunction, power output or service
failures which have been caused by: (a) repair, modifications or removal of the Product by someone other than a qualified service technician; (b) any improper attachment, installation or application of the Product or (c) abuse,
misuse, accident, negligent acts, power failures or surges, lightning, fire, flood, accidental breakage, actions of third parties and other events or accidents outside [***] reasonable control and/or not arising under normal operating conditions.

  

	6.	This Limited Warranty is provided voluntarily and free of charge and does not constitute an independent guarantee promise. Therefore, if any defect materially affects the functionality of the Product or results in a
power output below the warranted levels, the Original End-User’s remedies are limited exclusively to the remedies set out under sections I. and II. in the warranty cases specified herein. [***] ASSUMES NO WARRANTIES, EXPRESS OR IMPLIED,
OTHER THAN THE WARRANTIES MADE HEREIN AND SPECIFICALLY DISCLAIMS ALL OTHER WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. [***] EXCLUDES ALL LIABILITIES FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES FROM THE
USE OR LOSS OF USE OF THE PRODUCTS TO PERFORM AS WARRANTED; INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF POWER, LOST PROFITS OR SAVINGS NOR EXPENSES ARISING FROM THIRD-PARTY CLAIMS. This does not apply to the extent the Warrantor is liable
under applicable mandatory product liability laws or in cases of intent or gross negligence on the part of the Warrantor. 

  

	7.	This Limited Warranty shall be governed by and construed in accordance with the laws of the State of California without giving effect to its conflict of laws provisions. The United Nations Convention on Contracts for
the International Sale of Goods (1980) shall not apply to or govern this Limited Warranty or any aspect of any dispute arising there from. 

  

	IV.	Warranty Claim Procedure 

 Claims under this Limited Warranty must be made by notifying the authorized
distributor or seller where the Product was first purchased. A claim may be registered at: 
 [***] 

For a Warranty Claim to be processed, proof of the original purchase of the Product and any subsequent sales including transfer of this Warranty need to
accompany the claim. The claim must include a description of the alleged defect(s) as well as the Product’s serial number(s). Prior to returning any Products or components to [***] an RMA (Return Merchandise Authorization) number is required,
which may be obtained by contacting [***] via the aforesaid address. 
 This warranty is valid for Products sold on or after September 1, 2011. 

****** 

  

			
	This warranty is only applicable in the member states of the Organization of American States, OAS	  	Rev. G.3, 06.2012

 Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed
separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

SCHEDULE 19.5—REPRESENTATIVES OF THE PARTIES 
 The
representatives of the Parties with responsibility for the administration of this Agreement are: 
  

			
	 [***] company:
	  	 [***]

	 Postal address:
	  	 [***]
 [***]

	 Telephone:
	  	 [***]

	 Attention:
	  	 [***]

	 E-mail:
	  	 [***]

		  	
		  	
	 Customer:
	  	POWERSECURE SOLAR, LLC
	 Postal address:
	  	1609 Heritage Commerce Court
		  	Wake Forest, NC 27587
	 Telephone:
	  	919-556-3056
	 Attention:
	  	 [***]

	 E-mail:
	  	 [***]

  

					
	Master Supply Agreement – [***]	  	12AGN EX 10.1 Q3 2014

EXHIBIT 10.1    

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD GRANT AGREEMENT
Pursuant to the Allergan, Inc. 2011 Incentive Award Plan (the “Plan”), Allergan, Inc. (the “Company”) hereby grants to the employee listed below (“Participant”) an award of Restricted Stock Units (the “Restricted Stock Units”).  The Restricted Stock Units are subject to all of the terms and conditions set forth in this Performance-based Restricted Stock Unit Award Grant Agreement (this “Grant Agreement”), in the Terms and Conditions attached hereto as Exhibit A (the “Terms”), in the Country- Specific Terms, if any, for Participant’s country attached hereto as Exhibit B (the “Country-Specific Terms”) and in the Plan attached hereto as Exhibit C, each of which is incorporated herein by reference.  Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Agreement.
Each Restricted Stock Unit represents the right to receive one share of the Company’s common stock, par value $0.01 (“Stock”), at the time the Restricted Stock Unit is available for distribution in accordance with the terms and conditions set forth in the Plan, the Terms and the Country-Specific Terms.
	
		
	Participant:
	[______]

	Grant Date:
	[______]

	Number of Restricted Stock Units:
	[______]

	Vesting Schedule:
	The Restricted Stock Units initially shall be unvested.  Subject to Article II of the Terms, should Participant remain continuously employed with the Company until the completion of the Written Certification (as defined below) (such date, the “Certification Date”), then, subject to the Company’s achievement of each of the TSR Target and the Performance EPS Target (each, as defined in the Terms), then 100% of the Restricted Stock Units shall vest on the Certification Date, if at all, (as adjusted from time to time pursuant to Section 14.2 of the Plan). 

	 
	 

	 
	Except as provided in Sections 2.3(b) or 2.4(d) of the Terms (or anything to the contrary in the Country-Specific Terms), in no event shall Participant vest in any Restricted Stock Units following Participant’s Termination of Employment (as defined in Section 1.1 of the Terms).

 

	
		
	Written Certification:
	Not later than forty-five (45) days following December 31, 2016, the Organization & Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) shall certify in writing (i) whether the Performance EPS Target was achieved, and (ii) whether the TSR Target was achieved (the “Written Certification”).  

	 
	 

	Distribution Schedule:
	Following the Certification Date, the shares of Stock subject to the Restricted Stock Units that vest (if any) shall be distributable in accordance with Sections 2.5 and 3.17 of the Terms.

All decisions and interpretations of the Administrator arising under the Plan, this Grant Agreement, the Terms or the Country-Specific Terms, if applicable, or relating to the Restricted Stock Units shall be binding, conclusive and final.
ALLERGAN, INC.

By:

________________________________________
		
	Print Name:
	David E.I. Pyott

		
	Title:
	Chairman of the Board and Chief Executive Officer

		
	Address:
	2525 Dupont Drive

Irvine, California 92612

		
	Attachments:
	Terms and Conditions (Exhibit A) 

Peer Group (Exhibit A-1)
Country-Specific Terms (Exhibit B)
Allergan, Inc. 2011 Incentive Award Plan (Exhibit C)
Allergan, Inc. 2011 Incentive Award Plan Prospectus (Exhibit D)

 

EXHIBIT A TO THE 
PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD GRANT AGREEMENT
TERMS AND CONDITIONS 
October 2014 
Performance-based Award
Pursuant to the Performance-based Restricted Stock Unit Award Grant Agreement (the “Grant Agreement”) to which these Terms and Conditions (the “Terms”) are attached, Allergan, Inc. (the “Company”) granted to the participant (“Participant”) specified on the Grant Agreement a restricted stock unit award (the “Restricted Stock Units”) under the Allergan, Inc. 2011 Incentive Award Plan (the “Plan”), subject to the terms and conditions of the Grant Agreement, the Terms, the Plan and the Country-Specific Terms, if any, for Participant’s country attached to the Grant Agreement as Exhibit B (the “Country-Specific Terms”).  Any reference herein to the Terms shall include the Country-Specific Terms, as applicable.
		
	I.
	GENERAL

1.1.    Defined Terms.  Wherever the following terms are used herein they shall have the meanings specified below, unless the context clearly indicates otherwise.  Capitalized terms not specifically defined herein shall have the meanings specified in the Grant Agreement or, if not defined therein, the Plan. 
“Average Market Value” means the average closing trading price per share of Stock (or common stock of a company in the Peer Group, as applicable) on the principal exchange on which the Stock (or common stock of a company in the Peer Group, as applicable) is then traded, during the twenty (20) consecutive trading days beginning or ending on a specified date for which such closing trading price is reported by the applicable exchange or such other authoritative source as the Administrator may determine.
“Adjusted Net Earnings” means Non-GAAP net earnings attributable to the Company as furnished in the Company’s periodic reports of operating results.  Non-GAAP net earnings represent net earnings attributable to the Company as calculated under generally accepted accounting principles in the United States (U.S. GAAP), as adjusted to remove the effects of (i) extraordinary, unusual or non-recurring items; (ii) accounting changes required by U.S. GAAP; (iii) expenses for restructuring or productivity initiatives; (iv) integration and transaction costs associated with business combinations; (v) changes in the fair value of contingent consideration; (vi) amortization of acquired intangible assets; (vii) impairment of goodwill and intangible assets; (viii) significant unusual legal settlement expenses or recoveries; (ix) any unrealized gains or losses on derivative instruments; (x) significant discrete income tax adjustments related to transactions in previously filed tax returns; (xi) any other items that management determines are not reflective of the Company’s core, ongoing business activities; and (xii) any income tax effects of any adjustments with respect to subclauses (i) through (xi) (such adjustments, collectively, the “Non-GAAP Adjustments”).

“Beginning Average Market Value” means the Average Market Value during the twenty (20) consecutive trading days ending on December 31, 2013.

A-1

“Cause” means, (i) with respect to any Participant who is a party to a change-in-control agreement with the Company or who participates in a Company-sponsored change-in-control policy, plan or program, the definition given to such term in the applicable agreement, policy, plan or program and (ii) with respect to all other Participants, any conduct set forth on the Grant Date (as defined in Section 2.1) in the Company’s employee handbook or Management Practices and Guidelines (or any successor thereto) justifying immediate termination without the benefit of a counseling review or severance pay.
“Ending Market Value” means, the Average Market Value during the twenty (20) consecutive trading days ending on December 31, 2016.
“Net Earnings Impact of Future Business Combinations” means, with respect to any business acquisition that is accounted for as a “business combination” under U.S. GAAP that is completed subsequent to the Grant Date of this award, but before the end of the Performance EPS Measurement Period, the aggregate impact of the business combination(s) on Adjusted Net Earnings for the Performance EPS Measurement Period, which shall be the Non-GAAP operating income attributable to the acquired business(es) calculated in a manner consistent with the Company’s internal financial reporting of management income statements, further adjusted to deduct: (i) an allocation of general and administrative expenses; (ii) an interest expense allocation; and (iii) a provision for income taxes.  Non-GAAP operating income represents operating income attributable to the acquired business(es) as calculated under U.S. GAAP, as adjusted to exclude the effects of the Non-GAAP Adjustments. The general and administrative expense allocation will be calculated as the ratio of the Company’s total adjusted general and administrative expenses divided by the Company’s total product net sales for the Performance EPS Measurement Period, multiplied by the net sales of the acquired business(es) for the period the acquired business(es) was included in the Company’s financial statements during the Performance EPS Measurement Period. The interest expense allocation will be calculated as the total cash portion of the business acquisition price multiplied by the Company’s weighted average interest rate on debt outstanding at acquisition date. The full cash portion of the business acquisition price will be assumed to be outstanding for the purpose of the interest allocation from the acquisition date to the end of the Performance EPS Measurement Period.

“Peer Group” means the Company’s peer group set forth on Exhibit A-1; provided, however, that if a constituent company in the Peer Group ceases to be actively traded, due, for example, to merger or bankruptcy or the Administrator otherwise reasonably determines that it is no longer suitable for the purposes of this Agreement, then the Administrator in its reasonable discretion may eliminate such company and may select a comparable company to be added to the Peer Group for purposes of making the total shareholder return comparison required by Section 2.2 meaningful and consistent across the TSR Performance Period.  
“Performance EPS” means the Company’s Performance Net Earnings divided by the weighted-average number of common stock outstanding on a diluted basis during the fiscal year ending December 31, 2016, adjusted to exclude the weighted-average impact over the same period of any common stock issued for the purpose of acquiring a business subsequent to the Grant Date of this award.
“Performance EPS Measurement Period” means the period beginning on January 1, 2016 and ending on December 31, 2016.

A-2

“Performance EPS Target” means, with respect to the Performance EPS Measurement Period, a Performance EPS of $10.00.
“Performance Net Earnings” means the Company’s Adjusted Net Earnings, adjusted to exclude the Net Earnings Impact of Future Business Combinations.
“Performance Goals” shall mean (i) the Performance EPS Target and (ii) the TSR Target.
“Qualifying Termination” means Participant’s Termination of Employment with the Company or any Subsidiary during the 24-month period commencing on the date of a Change in Control, unless:
(i)    Participant voluntarily terminates his or her employment with the Company or any Subsidiary during such period.  Participant, however, shall not be considered to have voluntarily terminated his or her employment with the Company or any Subsidiary if one or more of the following occurs following the Change in Control, and subsequent to such event Participant elects to terminate his or her employment with the Company or any Subsidiary: (A) a material diminution in Participant’s base compensation; (B) a material diminution in Participant’s position with the Company or any Subsidiary without Participant’s consent such that there is a material diminution in Participant’s authority, duties or responsibilities; (C) a change in Participant’s principal location of employment that is both material and greater than fifty (50) miles from its location prior to the Change in Control without Participant’s express written consent; provided, however, that Participant hereby acknowledges that Participant may be required to engage in travel in connection with the performance of Participant’s duties and that such travel shall not constitute a change in Participant’s principal location of employment for purposes hereof; or (D) any other action or inaction that constitutes a material breach by the Company or any Subsidiary of any agreement under which Participant provides services.  Notwithstanding the foregoing, Participant’s termination of his or her employment with the Company or any Subsidiary as a result of the occurrence of any of the foregoing shall not constitute a “Qualifying Termination” unless Participant gives the Company written notice of such occurrence within ninety (90) days of such occurrence and such occurrence is not cured by the Company within thirty (30) days of the date on which such written notice is received by the Company.
(ii)    The termination is on account of Participant’s death or permanent and total disability (within the meaning of Section 22(e)(3) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”)).
(iii)    Participant is involuntarily terminated for Cause during such period.
In addition, notwithstanding anything contained in the Terms to the contrary, if Participant’s Termination of Employment occurs prior to a Change in Control and it is determined that such termination (x) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control and who subsequently effectuates a Change in Control or (y) otherwise occurred in connection with, or in anticipation of, a Change in Control which actually occurs, then, for all purposes of the Terms, the date of a Change in Control with respect to Participant shall mean the date immediately prior to the date of Participant’s Termination of Employment.

A-3

“Termination of Employment” means the time when the employee-employer relationship between Participant and the Company or any Subsidiary is terminated for any reason, with or without Cause, including, without limitation, a termination by resignation, discharge, death, disability or retirement, but excluding terminations where there is a simultaneous reemployment or continuing employment of Participant by the Company or any Subsidiary.  The Administrator, in its discretion, shall determine the effect of all matters and questions relating to Participant’s Termination of Employment, including, without limitation, when Participant is no longer actively employed for purposes of Section 3.4(i), and the question of whether such Termination of Employment resulted from a discharge for Cause or a Qualifying Termination.  For purposes of the Terms, Participant’s employee-employer relationship shall be deemed to be terminated in the event that the Subsidiary employing Participant ceases to remain a Subsidiary following any merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off).
“TSR Performance Period” means the period beginning on January 1, 2014 and ending on December 31, 2016.
“TSR Target” means, with respect to the TSR Performance Period, a Total Shareholder Return of the Company greater than or equal to the 50th percentile (as determined in accordance with standard statistical methodology) of the range of Total Shareholder Returns during the TSR Performance Period of the constituent companies included in the Peer Group, calculated in a manner consistent with the TSR calculation methodology under this Agreement.
“Total Shareholder Return” or “TSR” means, with respect to the TSR Performance Period, the compound annual total shareholder return of the Company (or of a company in the Peer Group, as applicable), as measured by the change in the price of the Stock of the Company (or common stock of a company in the Peer Group, as applicable) over the TSR Performance Period (positive or negative), calculated based on the Beginning Average Market Value as the beginning stock price and the Ending Average Market Value as the ending stock price and assuming dividends are reinvested based on the price of the Stock of the Company (or common stock of a company in the Peer Group, as applicable) on the last trading day of the month during which the ex-dividend date occurs. 
 “Written Agreement” means any written agreement between the Company and Participant or any written policy approved by the Administrator that applies to Participant.
1.2.    Incorporation of Terms of Plan.  The Restricted Stock Units evidenced by the Grant Agreement and the Terms are also subject to the terms and conditions of the Plan, which are incorporated herein by reference.
		
	II.
	GRANT, VESTING AND DISTRIBUTION OF RESTRICTED STOCK UNITS

2.1.    Grant of Restricted Stock Units.  Effective as of the grant date specified on the Grant Agreement (the “Grant Date”), the Company irrevocably grants to Participant an award of Restricted Stock Units, subject to the terms and conditions set forth in the Plan, the Grant Agreement and the Terms.  Each Restricted Stock Unit represents the right to receive a share of the Company’s common stock, par 

A-4

value $0.01 per share (“Stock”), at the time the Restricted Stock Unit is available for distribution in accordance with the terms and conditions set forth in the Plan and the Terms.
2.2.    Performance-Based Vesting of Restricted Stock Units.  
(a)    Subject to Sections 2.2(b), 2.3 and 2.4, if each of the Performance EPS Target and the TSR Target is achieved, then the Restricted Stock Units shall vest in full on the Certification Date, subject to Participant’s continuous service with the Company through the Certification Date.  
(b)    Subject to Sections 2.3 and 2.4, and notwithstanding anything else to the contrary contained herein, in the event that the Company fails to achieve the TSR Target and/or the Performance EPS Target, then no Restricted Stock Units shall vest, all of the Restricted Stock Units shall automatically terminate and be forfeited as of the Certification Date without further notice and at no cost to the Company, and Participant’s rights in the Restricted Stock Units, including without limitation any Dividend Equivalent Rights, shall thereupon lapse and expire.
(c)    Unless and until the Restricted Stock Units have vested in accordance with this Section 2.2, Participant shall have no right to any distribution made with respect to such Restricted Stock Units.  Subject to Sections 2.3 and 2.4 or anything to the contrary in the Country-Specific Terms, as applicable, in the event of Participant’s Termination of Employment prior to the Certification Date, any Restricted Stock Units will automatically terminate and be forfeited as of the termination date without further notice and at no cost to the Company, and Participant’s rights in any such Restricted Stock Units and such portion of the Award, including without limitation any Dividend Equivalent Rights, shall thereupon lapse and expire.
2.3.    Effect of Death or Disability.  Notwithstanding anything to the contrary in Section 2.2 or the Grant Agreement, and subject to Section 2.4: 
(a)    In the event Participant’s Termination of Employment occurs by reason of Participant’s death or Participant’s permanent and total disability (within the meaning of Code Section 22(e)(3)), in either case, prior to or on December 31, 2016, then the Restricted Stock Units shall vest in full as of the termination date.
(b)    In the event Participant’s Termination of Employment occurs by reason of Participant’s death or Participant’s permanent and total disability (within the meaning of Code Section 22(e)(3)), in either case, following December 31, 2016 but prior to the Certification Date, the Restricted Stock Units shall remain outstanding and eligible to vest on the Certification Date based on the achievement of the Performance Goals in accordance with the Grant Agreement and Sections 2.2 and 2.4 hereof.
2.4.    Effect of Change in Control.  Notwithstanding anything to the contrary in Section 2.2 or 2.3 or the Grant Agreement, in the event of a Change in Control that occurs prior to the Certification Date, the following provisions shall apply:
(a)    If (i) the successor or surviving entity (or any affiliate thereto) assumes the Restricted Stock Units (or permits the Restricted Stock Units to remain outstanding) or replaces the 

A-5

Restricted Stock Units with restricted stock units to acquire stock in such successor or surviving entity (or any affiliate thereto) that (A) preserve the existing value of the Restricted Stock Units at the time of the Change in Control and (B) provide for distribution in accordance with a vesting schedule that is the same or more favorable to Participant than the Restricted Stock Unit vesting schedule set forth herein (any such replacement award, a “Substitute Award”) and (ii) any assumption or replacement described in (i) is structured such that Participant will not incur any taxes or penalties under Code Section 409A and the guidance issued thereunder, then the Restricted Stock Units or such Substitute Award shall remain outstanding and be governed by their respective terms and the provisions set forth in the Plan, subject to Sections 2.4(c) and (d).
(b)    If the successor or surviving entity (or any affiliate thereto) does not assume or replace the Restricted Stock Units (or permit the Restricted Stock Units to remain outstanding) as provided in Section 2.4(a) and Participant remains continuously employed as of immediately prior to such Change in Control, then the Restricted Stock Units shall vest in full as of immediately prior to the Change in Control.
(c)    If the successor or surviving entity (or any affiliate thereto) assumes or replaces the Restricted Stock Units (or permits the Restricted Stock Units to remain outstanding) as provided in Section 2.4(a) and Participant experiences a Qualifying Termination or a Termination of Employment by reason of Participant’s death or permanent and total disability (within the meaning of Code Section 22(e)(3)), in any case, prior to or on December 31, 2016, then the Restricted Stock Units shall vest in full as of the termination date.
(d)    If the successor or surviving entity (or any affiliate thereto) assumes or replaces the Restricted Stock Units (or permits the Restricted Stock Units to remain outstanding) as provided in Section 2.4(a) and Participant experiences a Qualifying Termination or a Termination of Employment by reason of Participant’s death or permanent and total disability (within the meaning of Code Section 22(e)(3)), in any case, following December 31, 2016 but prior to the Certification Date, the Restricted Stock Units shall remain outstanding and eligible to vest on the Certification Date based on the achievement of the Performance Goals in accordance with the Grant Agreement and Section 2.2.
2.5.    Distribution of Stock.
(a)    Subject to Section 3.17, as soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Sections 2.2, 2.3 and 2.4 (such vesting, a “Distribution Event”), but in no event later than ten (10) days after such vesting date, the Company shall deliver to Participant a number of shares of Stock equal to the number of Restricted Stock Units subject to this Award that vest on the applicable vesting date (either by delivering one or more certificates for such Shares or by entering such Shares in book entry form, as determined by the Administrator in its sole discretion), provided that any such payment made pursuant to Section 2.4 above in the event of a Change in Control shall be made or deemed made immediately preceding and effective upon the occurrence of such Change in Control.

A-6

(b)    Distributions shall be made by the Company in the form of  shares of Stock.  The Administrator may in its discretion issue fractional Shares or eliminate fractional Restricted Stock Units by rounding down to the nearest whole Share.
2.6.    Dividend Equivalent Rights.  Effective as of the Grant Date, the Company irrevocably grants to Participant Dividend Equivalent Rights (as defined below) with respect to each Restricted Stock Unit that vests pursuant to Section 2.2, 2.3 or 2.4 or pursuant to the Country-Specific Terms, if applicable, subject to the terms and conditions of the Plan and the Terms.  “Dividend Equivalent Right” means a right to receive an amount equal to the aggregate amount of dividends, if any, paid to the Company’s stockholders on one share of Stock where the record date(s) for such dividends occurred during the period from the Grant Date through and including the day immediately preceding the date the share of Stock subject to the Restricted Stock Unit to which such Dividend Equivalent Right relates is distributed to Participant pursuant to Section 2.5 (the “Dividend Equivalent Term”).  The amount so paid shall be termed the  “Dividend Equivalent Amount”.  The Company shall determine, in its discretion, whether the Dividend Equivalent Amount shall be paid to Participant in the form of Stock or cash, and the time and manner in which the Dividend Equivalent Amount shall be credited to Participant during the Dividend Equivalent Term. Each Dividend Equivalent Right shall terminate as of the date the share of Stock subject to the Restricted Stock Unit to which such Dividend Equivalent Right relates is distributed.  Dividend Equivalent Rights shall not be paid to Participant for any Restricted Stock Units that do not vest pursuant to Sections 2.2 through 2.4 above or pursuant to the Country-Specific Terms.
2.7.    Conditions to Issuance of Stock Certificates.  The shares of Stock deliverable upon settlement of the Restricted Stock Units, the Dividend Equivalent Rights, or any portion of either, may be either previously authorized but unissued shares or issued shares which have then been reacquired by the Company.  Such shares shall be fully paid and nonassessable.  The Company shall not be required to issue or deliver any shares of Stock in settlement of the Restricted Stock Units, the Dividend Equivalent Rights, or any portion of either, prior to fulfillment of all of the following conditions:
(a)    The admission of such shares to listing on all stock exchanges on which such Stock is then listed;
(b)    The completion of any registration or other qualification of such shares under any state, federal, foreign or local law or under rulings or regulations of the U.S. Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its sole and absolute discretion, deem necessary or advisable;
(c)    The obtaining of any approval or other clearance from any state, federal, foreign or local governmental agency which the Administrator shall, in its sole and absolute discretion, determine to be necessary or advisable;
(d)    The receipt by the Company (or other employer) of full payment of any Tax- Related Items (as defined in Section 3.14(a)); and
(e)    The lapse of such reasonable period of time following the applicable Distribution Event as the Administrator may from time to time establish for reasons of administrative convenience.

A-7

2.8.    Rights as Stockholder.  The holder of the Restricted Stock Units or Dividend Equivalent Rights shall not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of any shares issuable or deliverable upon settlement of the Restricted Stock Units or Dividend Equivalent Rights, or any part thereof, unless and until such shares shall have been issued by the Company to such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company).
		
	III.
	OTHER PROVISIONS

3.1.    Administration.  The Administrator shall have the power to interpret the Plan and the Terms and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules.  All actions taken and all interpretations and determinations made by the Administrator in good faith shall be binding, conclusive and final upon Participant, the Company and all other interested persons.  No member of the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, the Terms, the Restricted Stock Units or the Dividend Equivalent Rights.  In its sole and absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan and the Terms, subject to Section 13.2 of the Plan.
3.2.    Limited Transferability.
(a)    Subject to Section 3.2(b), the Restricted Stock Units may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution.  Neither the Restricted Stock Units nor any interest or right therein or part thereof shall be liable for Participant’s debts, contracts or engagements or the debts, contracts or engagements of Participant’s successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.
(b)    Notwithstanding any other provision of the Terms, if Participant resides in the U.S. and the Administrator consents, Participant may transfer the Restricted Stock Units to one or more “Permitted Transferees” (as defined in the Plan), subject to the following terms and conditions:
(i)    the Restricted Stock Units shall not be assignable or transferable by the Permitted Transferee other than by will or the laws of descent and distribution;
(ii)    the Restricted Stock Units shall continue to be subject to all the terms and conditions of the Plan and the Terms, as amended from time to time, as applicable to Participant (other than the ability to further transfer the Restricted Stock Units); and
(iii)    Participant and the Permitted Transferee execute any and all documents requested by the Company, including, without limitation documents to (A) confirm the status of 

A-8

the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the transfer under applicable federal and state securities laws, and (C) evidence the transfer.
3.3.    Restrictive Legends and Stop-Transfer Orders.
(a)    Any share certificate(s) evidencing the shares of Stock issued hereunder shall be endorsed with any legend(s) that may be required by applicable federal, state or foreign securities laws, to be placed on the certificate(s) evidencing such shares.
(b)    Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.
(c)    The Company shall not be required: (i) to transfer on its books any shares of Stock that have been sold or otherwise transferred in violation of any of the provisions of the Terms, or (ii) to treat as owner of such shares of Stock or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares shall have been so transferred.
3.4.    Nature of Grant.  In accepting the grant of Restricted Stock Units, Participant acknowledges, understands and agrees that:
(a)    the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time;
(b)    the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of restricted stock units, or benefits in lieu of restricted stock units, even if restricted stock units have been granted repeatedly in the past;
(c)    subject to the terms of any other plan or program applicable to a Participant or any Written Agreement between the Company or a Subsidiary and a Participant, all decisions with respect to future restricted stock unit grants, if any, will be at the sole discretion of the Company;
(d)    nothing in the Plan or the Terms shall confer upon Participant any right to continue in the employ or service of the Company or any Affiliate or shall interfere with or restrict in any way the rights of the Company and its Affiliates, which rights are hereby expressly reserved, to discharge or terminate Participant’s employment or services at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a Written Agreement between the Company or an Affiliate and Participant;
(e)    Participant is voluntarily participating in the Plan;
(f)    the Restricted Stock Units and the shares of Stock subject to the Restricted Stock Units are not intended to replace any pension rights;

A-9

(g)    the future value of the underlying shares of Stock is unknown and cannot be predicted;
(h)    no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units resulting from Participant’s Termination of Employment by the Employer (as defined in Section 3.14(a)) or the Company (for any reason whatsoever and whether or not in breach of local labor laws), and as a condition to receiving the grant of Restricted Stock Units, Participant irrevocably agrees (i) never to institute any claim against the Company or the Employer, in the event of any such forfeiture, (ii) to waive his or her ability, if any, to bring any such claim, and (iii) to release the Company and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claims;
(i)    except as provided otherwise in Section 2.3 or 2.4, in the event of Participant’s Termination of Employment (whether or not in breach of local labor laws), Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate effective as of the date that Participant is no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of Participant’s Restricted Stock Unit grant;
(j)    for Participants who reside outside of the U.S., the following additional provisions shall apply:
(i)    the Restricted Stock Units and the shares of Stock subject to the Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or the Employer, and which is outside the scope of Participant’s employment contract, if any;
(ii)    except as explicitly provided pursuant to the terms of a written benefit plan maintained by the Company or a Subsidiary, the Restricted Stock Units and the shares of Stock subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, the Employer or any Affiliate of the Company; and
(iii)    Participant acknowledges and agrees that none of the Company, the Employer or any Affiliate shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the U.S. dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the Restricted Stock Units or the subsequent sale of any shares of Stock acquired upon settlement.

A-10

3.5.    Shares to Be Reserved.  The Company shall at all times prior to the settlement or forfeiture of the Restricted Stock Units reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of the Terms.
3.6.    Notices.  All notices or other communications required or permitted hereunder shall be in writing, and shall be deemed duly given only when delivered in person or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the local postal service, addressed as follows:
		
	If to the Company:
	Allergan, Inc. 
Attention: General Counsel 
2525 Dupont Drive 
Irvine, California 92612

		
	If to Participant:
	To Participant’s most recent address then  
on file in the Company’s personnel records.

By a notice given pursuant to this Section 3.6, either party may thereafter designate a different address for notices to be given to that party.
3.7.    Titles.  Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Terms.
3.8.    Governing Law; Venue.  The Terms shall be administered, interpreted and enforced under the laws of the State of Delaware, without regard to conflicts of law principles thereof.
For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or the Terms, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of Orange County, California, or the U.S. federal courts for the Central District of California, and no other courts, where this grant is made and/or to be performed.
3.9.    Severability.  Should any provision of the Terms be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.
3.10.    Conformity to Securities Laws.  Participant acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the U.S. Securities Act and the Exchange Act and any and all regulations and rules promulgated by the U.S. Securities and Exchange Commission thereunder, and state and foreign securities laws and regulations.  Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Restricted Stock Units shall be granted, only in such a manner as to conform to such laws, rules and regulations.  To the extent permitted by applicable law, the Plan and the Terms shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

A-11

3.11.    Amendments.  Except as explicitly prohibited by the Plan, the Terms may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator; provided, that, except as may otherwise be provided by the Plan, no termination, amendment, or modification of the Terms shall adversely affect the Restricted Stock Units in any material way without Participant’s prior written consent.  The Terms may not be modified, suspended or terminated except by an instrument in writing signed by a duly authorized representative of the Company and, if Participant’s consent is required, by Participant.
3.12.    Successors and Assigns.  The Company may assign any of its rights with respect to the Restricted Stock Units to single or multiple assignees, and the Terms shall inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth in Section 3.2, the Terms shall be binding upon Participant and Participant’s heirs, executors, administrators, successors and assigns.
3.13.    Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or the Terms, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Restricted Stock Units and the Terms shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule.  To the extent permitted by applicable law, the Terms shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
3.14.    Taxes.
(a)    Regardless of any action the Company or Participant’s employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”), Participant acknowledges that the ultimate liability for all Tax- Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer.  Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items with respect to the issuance of the Restricted Stock Units or Dividend Equivalent Rights, the distribution of shares of Stock with respect thereto, or any other taxable event related to the Restricted Stock Units or Dividend Equivalent Rights; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units or Dividend Equivalent Rights to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.  Further, if Participant has become subject to tax in more than one jurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax- Related Items in more than one jurisdiction.
(b)    Prior to any relevant taxable or tax withholding event, as applicable, Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items.  In this regard, Participant authorizes the Company and/or the Employer, or their 

A-12

respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:
(i)    withholding from Participant’s wages or other compensation payable to Participant by the Company and/or the Employer; or
(ii)    withholding from proceeds of the sale of shares of Stock acquired upon vesting/settlement of the Restricted Stock Units either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this authorization); or 
(iii)    withholding a number of vested shares of Stock otherwise issuable to Participant; or
(iv)    for Participants who reside in the U.S. only, by accepting vested shares of Stock having a then current Fair Market Value not exceeding the amount necessary to satisfy the withholding obligation of the Company and its Subsidiaries based on the minimum applicable statutory withholding rates for all Tax-Related Items.
(c)    To avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates.  If the obligation for Tax-Related Items is satisfied by withholding in shares of Stock, for tax purposes, Participant is deemed to have been issued the full number of shares of Stock subject to the vested Restricted Stock Units, notwithstanding that a number of the shares of Stock are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of Participant’s participation in the Plan.
(d)    Participant shall pay to the Company or the Employer any amount of Tax- Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described.  The Company shall not be obligated to deliver any certificate representing shares of Stock issuable with respect to the Restricted Stock Units or Dividend Equivalent Rights to Participant or his legal representative unless and until Participant or his legal representative shall have paid or otherwise satisfied in full the amount of all Tax-Related Items applicable with respect to the taxable income of Participant resulting from the grant of the Restricted Stock Units or Dividend Equivalent Rights, the distribution of the shares of Stock issuable with respect thereto, or any other taxable event related to the Restricted Stock Units or Dividend Equivalent Rights.
3.15.    Data Privacy. This Section 3.15 applies to Participant only if Participant resides outside the U.S. If Participant resides outside the U.S., then Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in these Terms and any other Restricted Stock Unit grant materials by and among, as applicable, the Employer, the Company and its Affiliates for the purpose of implementing, administering and managing Participant’s participation in the Plan.

A-13

Participant understands that the Company and the Employer may hold certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Restricted Stock Units or any other entitlement to shares of Stock awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor, for the purpose of implementing, administering and managing the Plan (“Data”).
Participant understands that Data will be transferred to Charles Schwab & Co., Inc., or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than Participant’s country.  Participant understands that he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative.  Participant authorizes the Company, Charles Schwab & Co., Inc., and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan.  Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan.  Participant understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative.  Participant understands, however, that refusing or withdrawing his or her consent may affect Participant’s ability to participate in the Plan.  For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative.
3.16.    Unfunded, Unsecured Obligations.  The obligations of the Company under the Plan and the Terms shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Participant or any other person.  Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Stock shall be distributed to Participant under the terms and conditions set forth herein.
3.17.    Compliance with Internal Revenue Code Section 409A.  Notwithstanding any provision to the contrary in this document or the Grant Agreement, for Participants who are U.S. taxpayers, the Restricted Stock Units and Dividend Equivalent Rights granted hereunder are not intended to provide for any deferral of compensation subject to Code Section 409A and, accordingly, the Organization & Compensation Committee of the Company’s Board of Directors shall complete the Written Certification (as defined in the Grant Agreement) required hereunder, and the benefits provided pursuant hereto shall be paid, on or before than the later of: (i) the fifteenth day of the third month following Participant’s first taxable year in which such benefit is no longer subject to a substantial risk of forfeiture, and (ii) the 

A-14

fifteenth day of the third month following the first taxable year of the Company in which such benefit is no longer subject to a substantial risk of forfeiture, in each case, as determined in accordance with Code Section 409A and any Treasury Regulations and other guidance issued thereunder.
3.18.    No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying shares of Stock.  Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.
3.19.    Language.  If Participant has received these Terms or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.
3.20.    Electronic Delivery.  the Company may, in its sole discretion, deliver any documents related to current or future participation in the Plan by electronic means.  Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
3.21.    Country-Specific Terms.  Notwithstanding anything to the contrary herein, the Restricted Stock Unit grant shall be subject to the Country-Specific Terms, if any, for Participant’s country.  Moreover, if Participant relocates to one of the countries included in the Country-Specific Terms, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan.  The Country-Specific Terms constitute part of these Terms and are incorporated herein by reference.
3.22.    Imposition of Other Requirements.  The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the Restricted Stock Units and on any shares of Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
3.23.    Currency.  All calculations under the Plan shall be prepared based on U.S. dollars. Amounts denominated in any currency other than U.S. dollars shall be converted into U.S. dollars on the basis of the Exchange Rate in effect on the relevant date.  The “Exchange Rate” shall be the rate at which the relevant currency is converted into U.S. dollars, as reported on the relevant date in The Wall Street Journal (or such other reliable source as may be selected from time to time by the Administrator in its discretion).
3.24.    Waiver.  Participant acknowledges that a waiver by the Company of a breach of any provision of the Terms shall not operate or be construed as a waiver of any other provision of the Terms, or of any subsequent breach by Participant or any other participant.

A-15

3.25.    Exclusive List of Accelerated Vesting Provisions.  Notwithstanding anything to the contrary in the Plan or any other plan, policy, program or agreement, Sections 2.2, 2.3 and 2.4 set forth the exclusive list of circumstances under which the Restricted Stock Units may become vested.  Participant agrees that the circumstances under which the Restricted Stock Units will vest may be modified or amended only by an instrument in writing specifically referencing the provisions of this Section 3.25, signed by Participant and a duly authorized representative of the Company.
3.26.    Coverage under Recoupment Policy.  Participant acknowledges and agrees that, except to the extent prohibited by applicable law, the Restricted Stock Units and any and all shares of Stock, cash, cash equivalents, assets or securities received by or distributed to Participant in settlement of the Restricted Stock Units shall be subject to any policy on the recovery of compensation that the Board (or a duly authorized committee thereof) or the Company may adopt, including any such policy adopted after the Grant Date.
3.27.    Adjustments.  Participant acknowledges that the Restricted Stock Units are subject to modification and termination in certain events as provided in this Agreement and Article 14 of the Plan.
3.28.    Entire Agreement.  The Plan and the Terms constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.

A-16

EXHIBIT A-1
TO PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD GRANT AGREEMENT

PEER GROUP

Abbott Laboratories
Abbvie Inc.
Actavis, Inc.
Alexion Pharmaceuticals, Inc.
Amgen Inc.
Biogen Idec Inc.
Bristol-Myers Squibb Company
Celgene Corporation
Eli Lilly and Company
Endo International plc
Gilead Sciences, Inc.
Regeneron Pharmaceuticals, Inc.
St. Jude Medical, Inc.
Stryker Corporation
Valeant Pharmaceuticals International, Inc.

A-1-1

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