Document:

EX-10.1

 Exhibit 10.1 
 ENERNOC, INC. 
 AMENDED AND RESTATED 

2007 EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 
  

	1.	DEFINITIONS. 

 Unless
otherwise specified or unless the context otherwise requires, the following terms, as used in this EnerNOC, Inc. 2007 Employee, Director and Consultant Stock Plan, have the following meanings: 

Administrator means the Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case
the Administrator means the Committee. 
 Affiliate means a corporation which, for purposes of Section 424 of
the Code, is a parent or subsidiary of the Company, direct or indirect. 
 Agreement means an agreement between the
Company and a Participant delivered pursuant to the Plan, in such form as the Administrator shall approve. 
 Board of
Directors means the Board of Directors of the Company. 
 Code means the United States Internal Revenue Code
of 1986, as amended from time to time, and the rules and regulations promulgated thereunder. 
 Committee means
the committee of the Board of Directors to which the Board of Directors has delegated power to act under or pursuant to the provisions of the Plan, the composition of which shall at all times satisfy the provisions of Section 162(m) of the
Code. 
 Common Stock means shares of the Company’s common stock, $.001 par value per share. 

Company means EnerNOC, Inc., a Delaware corporation. 

Disability or Disabled means permanent and total disability as defined in Section 22(e)(3) of the
Code. 
 Employee means any employee of the Company or of an Affiliate (including, without limitation, an employee
who is also serving as an officer or director of the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the Plan. 

Fair Market Value of a Share of Common Stock means: 

 

	 	(1)	If the Common Stock is listed on a national securities exchange or traded in the over-the-counter market and sales prices are regularly reported for the Common Stock,
the closing or last price of the Common Stock on the composite tape or other comparable reporting system for the trading day on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date;

  

	 	(2)	If the Common Stock is not traded on a national securities exchange but is traded on the over-the-counter market, if sales prices are not regularly reported for the
Common Stock for the trading day referred to in clause (1), and if bid and asked prices for the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock at the close of trading in the
over-the-counter market for the trading day on which Common Stock was traded on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; and 

 

	 	(3)	If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market, such value as the Administrator, in good faith, shall
determine. 

 ISO means an option meant to qualify as an incentive stock option under Section 422
of the Code. 
 Non-Qualified Option means an option which is not intended to qualify as an ISO. 

Option means an ISO or Non-Qualified Option granted under the Plan. 

  
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 Participant means an Employee, director or consultant of the Company or an
Affiliate to whom one or more Stock Rights are granted under the Plan. As used herein, “Participant” shall include “Participant’s Survivors” where the context requires. 

Performance-Based Award means a Stock Grant or Stock—Based Award as set forth in Paragraph 9 hereof. 

Performance Goals means performance goals based on one or more of the following criteria: (i) pre-tax income or after-tax
income; (ii) income or earnings including operating income, earnings before or after taxes, interest, depreciation, amortization, and/or extraordinary or special items; (iii) net income excluding amortization of intangible assets,
depreciation and impairment of goodwill and intangible assets and/or excluding charges attributable to the adoption of new accounting pronouncements; (iv) earnings or book value per share (basic or diluted); (v) return on assets (gross or
net), return on investment, return on capital, or return on equity; (vi) return on revenues; (vii) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess
of cost of capital; (viii) economic value created; (ix) operating margin or profit margin; (x) stock price or total stockholder return; (xi) income or earnings from continuing operations; (xii) cost targets, reductions and
savings, expense management, productivity and efficiencies; and (xiii) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration or market share, geographic business expansion, customer
satisfaction, employee satisfaction, human resources management, supervision of litigation, information technology, and goals relating to divestitures, joint ventures and similar transactions. Where applicable, the Performance Goals may be expressed
in terms of attaining a specified level of the particular criterion or the attainment of a percentage increase or decrease in the particular criterion, and may be applied to one or more of the Company or an Affiliate of the Company, or a division or
strategic business unit of the Company, all as determined by the Committee. The Performance Goals may include a threshold level of performance below which no Performance-Based Award will be issued or no vesting will occur, levels of performance at
which Performance-Based Awards will be issued or specified vesting will occur, and a maximum level of performance above which no additional issuances will be made or at which full vesting will occur. Each of the foregoing Performance Goals shall be
evaluated in accordance with generally accepted accounting principles, where applicable, and shall be subject to certification by the Committee. The Committee shall have the authority to make equitable adjustments to the Performance Goals in
recognition of unusual or non-recurring events affecting the Company or any Affiliate or the financial statements of the Company or any Affiliate, in response to changes in applicable laws or regulations, or to account for items of gain, loss or
expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles provided that any such change shall at all times satisfy
the provisions of Section 162(m) of the Code. 
 Plan means this Amended and Restated EnerNOC, Inc.
2007 Employee, Director and Consultant Stock Plan. 
 Shares means shares of the Common Stock as to which Stock
Rights have been or may be granted under the Plan or any shares of capital stock into which the Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under the Plan may be
authorized and unissued shares or shares held by the Company in its treasury, or both. 
 Stock-Based Award means a
grant by the Company under the Plan of an equity award or an equity based award which is not an Option or a Stock Grant, which the Committee may structure to qualify in whole or in part as “performance-based compensation” under
Section 162(m) of the Code. 
 Stock Grant means a grant by the Company of Shares under the Plan, which the
Committee may structure to qualify in whole or in part as “performance-based compensation” under Section 162(m) of the Code. 

  
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 Stock Right means a right to Shares or the value of Shares of the Company
granted pursuant to the Plan—an ISO, a Non-Qualified Option, a Stock Grant or a Stock-Based Award. 

Survivor means a deceased Participant’s legal representatives and/or any person or persons who acquired the
Participant’s rights to a Stock Right by will or by the laws of descent and distribution. 
  

	2.	PURPOSES OF THE PLAN. 

The Plan is intended to encourage ownership of Shares by Employees and directors of and certain consultants to the Company and its
Affiliates in order to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional incentive for them to promote the success of the Company or of an Affiliate. The Plan provides
for the granting of ISOs, Non-Qualified Options, Stock Grants and Stock-Based Awards. 
  

	3.	SHARES SUBJECT TO THE PLAN. 

 (a) The number of Shares which may be issued from time to time pursuant to this Plan shall be the sum of: (i) 5,100,000 shares of Common Stock; (ii) any shares of Common Stock that are
represented by awards granted under the Company’s 2003 Stock Option and Incentive Plan that are forfeited, expire or are cancelled without delivery of shares of Common Stock or which result in the forfeiture of shares of Common Stock back to
the Company on or after the date on which this Plan became effective; provided, however, that no more than 1,000,000 Shares shall be added to the Plan pursuant to subsection (ii); and (iii) 3,120,000 shares of Common Stock that were added
to the Plan pursuant to the provision previously in the Plan which provided for automatic annual increases in the number of Shares available for issuance under the Plan during the period beginning in fiscal year 2008 through fiscal year 2013; or, in
each case, the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recapitalization or similar transaction in accordance with
Paragraph 25 of this Plan. 
 (b) Subject to Subparagraph (a) above, the aggregate maximum number of shares
of Common Stock that may be issued pursuant to the exercise of ISOs under the Plan shall be 9,220,000 shares, or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split,
stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 25 of the Plan. 

(c) If an Option ceases to be “outstanding”, in whole or in part (other than by exercise), or if the Company shall
reacquire (at not more than its original issuance price) any Shares issued pursuant to a Stock Grant or Stock-Based Award, or if any Stock Right expires or is forfeited, cancelled, or otherwise terminated or results in any Shares not being issued,
the unissued Shares which were subject to such Stock Right shall again be available for issuance from time to time pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part, by tender of Shares or if
the Company’s tax withholding obligation is satisfied by withholding Shares, the number of Shares deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the number of Shares
that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. 
  

	4.	ADMINISTRATION OF THE PLAN. 

 The Administrator of the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee shall be the Administrator.
Notwithstanding the foregoing, the Board of Directors may not take any action that would cause any outstanding Stock Right that would otherwise qualify as performance-based compensation to fail to so qualify under Section 162(m). 

Subject to the provisions of the Plan, the Administrator is authorized to: 

 

	 	a.	Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of
the Plan; 

  
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	 	b.	Determine which Employees, directors and consultants shall be granted Stock Rights; 

 

	 	c.	Determine the number of Shares for which a Stock Right or Stock Rights shall be granted, provided, however, that in no event shall Stock Rights with respect to more
than 130,000 Shares be granted to any Participant in any fiscal year; 

  

	 	d.	Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted; 

 

	 	e.	Determine Performance Goals no later than such time as required to ensure that a Performance-Based Award which is intended to comply with the requirements of
Section 162(m) of the Code so complies; 

  

	 	f.	Make changes to any outstanding Stock Right, including, without limitation, to accelerate the vesting schedule or extend the expiration date, provided that no such
change shall impair the rights of a Participant under any grant previously made without such Participant’s consent; 

  

	 	g.	Make any adjustments in the Performance Goals included in any Performance-Based Awards provided that such adjustments comply with the requirements of
Section 162(m) of the Code; and 

  

	 	h.	Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or
other laws applicable to the Company or to Plan Participants or to otherwise facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a
Stock Right; 

 provided, however, that all such interpretations, rules, determinations, terms and conditions shall be made and
prescribed in the context of preserving the tax status under Section 422 of the Code of those Options which are designated as ISOs and in accordance with Section 162(m) of the Code for all other Stock Rights to which the Committee has
determined Section 162(m) is applicable. Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by
the Board of Directors, if the Administrator is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. 

To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its
responsibilities and powers to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or
delegation at any time. 
 Notwithstanding anything in the Plan to the contrary, neither the Board of Directors nor the
Committee shall have the authority to (i) reduce the exercise price of any outstanding Option under the Plan, or (ii) cancel any outstanding Option that has an exercise price greater than the then current Fair Market Value of the Common
Stock in exchange for cash or other Stock Rights under the Plan, unless the stockholders of the Company have approved such an action within twelve (12) months prior to such an event. 

 

	5.	ELIGIBILITY FOR PARTICIPATION. 

 The Administrator will, in its sole discretion, name the Participants in the Plan, provided, however, that each Participant must be an Employee, director or consultant of the Company or of an Affiliate at
the time a Stock Right is granted. Notwithstanding the foregoing, the Administrator may authorize the grant of a Stock Right to a person not then an Employee, director or consultant of the Company or of an Affiliate; provided, however, that the
actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to Employees.
Non-Qualified Options, Stock Grants and Stock-Based Awards may be granted to any Employee, director or consultant of the Company or an Affiliate. The granting of any Stock Right to any individual shall neither entitle that individual to, nor
disqualify him or her from, participation in any other grant of Stock Rights. 

  
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	6.	TERMS AND CONDITIONS OF OPTIONS. 

 Each Option shall be set forth in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Administrator may
provide that Options be granted subject to such terms and conditions, consistent with the terms and conditions specifically required under this Plan, as the Administrator may deem appropriate including, without limitation, subsequent approval by the
shareholders of the Company of this Plan or any amendments thereto. The Option Agreements shall be subject to at least the following terms and conditions: 
  

	 	a.	Non-Qualified Options: Each Option intended to be a Non-Qualified Option shall be subject to the terms and conditions which the Administrator determines to
be appropriate and in the best interest of the Company, subject to the following minimum standards for any such Non-Qualified Option: 

  

	 	i.	Option Price: Each Option Agreement shall state the option price (per share) of the Shares covered by each Option, which option price shall be determined by
the Administrator but shall not be less than the Fair Market Value per share of Common Stock. 

  

	 	ii.	Number of Shares: Each Option Agreement shall state the number of Shares to which it pertains. 

 

	 	iii.	Option Periods: Each Option Agreement shall state the date or dates on which it first is exercisable and the date after which it may no longer be exercised,
and may provide that the Option rights accrue or become exercisable in installments over a period of months or years, or upon the occurrence of certain conditions or the attainment of stated goals or events. 

 

	 	iv.	Option Conditions: Exercise of any Option may be conditioned upon the Participant’s execution of a Share purchase agreement in form satisfactory to the
Administrator providing for certain protections for the Company and its other shareholders, including requirements that: 

  

	 	A.	The Participant’s or the Participant’s Survivors’ right to sell or transfer the Shares may be restricted; and 

 

	 	B.	The Participant or the Participant’s Survivors may be required to execute letters of investment intent and must also acknowledge that the Shares will bear legends
noting any applicable restrictions. 

  

	 	b.	ISOs: Each Option intended to be an ISO shall be issued only to an Employee and be subject to the following terms and conditions, with such additional
restrictions or changes as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant regulations and rulings of the Internal Revenue Service: 

 

	 	i.	Minimum standards: The ISO shall meet the minimum standards required of Non-Qualified Options, as described in Paragraph 6(a) above.

  

	 	ii.	Option Price: Immediately before the ISO is granted, if the Participant owns, directly or by reason of the applicable attribution rules in
Section 424(d) of the Code: 

  

	 	A.	10% or less of the total combined voting power of all classes of stock of the Company or an Affiliate, the Option price per share of the Shares covered
by each ISO shall not be less than 100% of the Fair Market Value per share of the Shares on the date of the grant of the Option; or 

  

	 	B.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, the Option price per share of the Shares covered by each ISO
shall not be less than 110% of the Fair Market Value on the date of grant. 

  

	 	iii.	Term of Option: For Participants who own: 

  

	 	A.	10% or less of the total combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than ten years from
the date of the grant or at such earlier time as the Option Agreement may provide; or 

  
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	 	B.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than five years from the date
of the grant or at such earlier time as the Option Agreement may provide. 

  

	 	iv.	Limitation on Yearly Exercise: The Option Agreements shall restrict the amount of ISOs which may become exercisable in any calendar year (under this or any
other ISO plan of the Company or an Affiliate) so that the aggregate Fair Market Value (determined at the time each ISO is granted) of the stock with respect to which ISOs are exercisable for the first time by the Participant in any calendar year
does not exceed $100,000. 

  

	7.	TERMS AND CONDITIONS OF STOCK GRANTS. 

 Each offer of a Stock Grant to a Participant shall state the date prior to which the Stock Grant must be accepted by the Participant, and the principal terms of each Stock Grant shall be set forth in an
Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator
determines to be appropriate and in the best interest of the Company, subject to the following minimum standards: 
  

	 	(a)	Each Agreement shall state the purchase price (per share), if any, of the Shares covered by each Stock Grant, which purchase price shall be determined by the
Administrator but shall not be less than the minimum consideration required by the Delaware General Corporation Law on the date of the grant of the Stock Grant; 

 

	 	(b)	Each Agreement shall state the number of Shares to which the Stock Grant pertains; and 

 

	 	(c)	Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock Grant, including the time or attainment of
Performance Goals upon which such rights shall accrue and the purchase price therefor, if any. 

  

	8.	TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS. 

 The Administrator shall have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Administrator may determine, including, without limitation, the
grant of Shares based upon certain conditions, the grant of securities convertible into Shares and the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based Award shall be set forth in an
Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator
determines to be appropriate and in the best interest of the Company. 
  

	9.	PERFORMANCE-BASED AWARDS. 

Notwithstanding anything to the contrary herein, during any period when Section 162(m) of the Code is applicable to the Company
and the Plan, Stock Rights granted under Paragraph 7 and Paragraph 8 may be granted by the Committee in a manner which is deductible by the Company under Section 162(m) of the Code (“Performance-Based Awards”). A
Participant’s Performance-Based Award shall be determined based on the attainment of written Performance Goals, which must be objective and approved by the Committee for a performance period of between one and five years established by the
Committee (I) while the outcome for that performance period is substantially uncertain and (II) no more than 90 days after the commencement of the performance period to which the Performance Goal relates or, if less, the number of
days which is equal to 25% of the relevant performance period. The Committee shall determine whether, with respect to a performance period, the applicable Performance Goals have been met with respect to a given Participant and, if they have, to so
certify and ascertain the amount of the applicable Performance-Based Award. No Performance-Based Awards 

  
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will be issued for such performance period until such certification is made by the Committee. The number of shares issued in respect of a Performance-Based Award to a given Participant may be
less than the amount determined by the applicable Performance Goal formula, at the discretion of the Committee. The number of shares issued in respect of a Performance-Based Award determined by the Committee for a performance period shall be paid to
the Participant at such time as determined by the Committee in its sole discretion after the end of such performance period. 
  

	10.	EXERCISE OF OPTIONS AND ISSUE OF SHARES. 

 An Option (or any part or installment thereof) shall be exercised by giving written notice to the Company or its designee, together with provision for payment of the full purchase price in accordance with
this Paragraph for the Shares as to which the Option is being exercised, and upon compliance with any other condition(s) set forth in the Option Agreement. Such notice shall be signed by the person exercising the Option, shall state the number
of Shares with respect to which the Option is being exercised and shall contain any representation required by the Plan or the Option Agreement. Payment of the purchase price for the Shares as to which such Option is being exercised shall be made
(a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares of Common Stock having a Fair Market Value equal as of the date of the exercise to the cash exercise price of the
Option and held for at least six months, or (c) at the discretion of the Administrator, by having the Company retain from the shares otherwise issuable upon exercise of the Option, a number of shares having a Fair Market Value equal as of the
date of exercise to the exercise price of the Option, or (d) at the discretion of the Administrator, in accordance with a cashless exercise program established with a securities brokerage firm, and approved by the Administrator, or (e) at
the discretion of the Administrator, by any combination of (a), (b), (c) and (d) above or (f) at the discretion of the Administrator, payment of such other lawful consideration as the Administrator may determine. Notwithstanding the
foregoing, the Administrator shall accept only such payment on exercise of an ISO as is permitted by Section 422 of the Code. 
 The Company shall then reasonably promptly deliver the Shares as to which such Option was exercised to the Participant (or to the Participant’s Survivors, as the case may be). In determining what
constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or
“blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. The Shares shall, upon delivery, be fully paid, non-assessable Shares. 

The Administrator shall have the right to accelerate the date of exercise of any installment of any Option; provided that the
Administrator shall not accelerate the exercise date of any installment of any Option granted to an Employee as an ISO (and not previously converted into a Non-Qualified Option pursuant to Paragraph 28) without the prior approval of the
Employee if such acceleration would violate the annual vesting limitation contained in Section 422(d) of the Code, as described in Paragraph 6(b)(iv). 
 The Administrator may, in its discretion, amend any term or condition of an outstanding Option provided (i) such term or condition as amended is permitted by the Plan, (ii) any such amendment
shall be made only with the consent of the Participant to whom the Option was granted, or in the event of the death of the Participant, the Participant’s Survivors, if the amendment is adverse to the Participant, and (iii) any such
amendment of any Option shall be made only after the Administrator determines whether such amendment would constitute a “modification” of any Option which is an ISO (as that term is defined in Section 424(h) of the Code) or would
cause any adverse tax consequences for the holder of such Option including, but not limited to, pursuant to Section 409A of the Code. 
  

	11.	ACCEPTANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF SHARES. 

 A Stock Grant or Stock-Based Award (or any part or installment thereof) shall be accepted by executing the applicable Agreement and delivering it to the Company or its designee, together with provision
for payment of 

  
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the full purchase price, if any, in accordance with this Paragraph for the Shares as to which such Stock Grant or Stock-Based Award is being accepted, and upon compliance with any other
conditions set forth in the applicable Agreement. Payment of the purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being accepted shall be made (a) in United States dollars in cash or by check, or (b) at
the discretion of the Administrator, through delivery of shares of Common Stock held for at least six months and having a Fair Market Value equal as of the date of acceptance of the Stock Grant or Stock Based-Award to the purchase price of the Stock
Grant or Stock-Based Award, or (c) at the discretion of the Administrator, by delivery of the grantee’s personal recourse note bearing interest payable not less than annually at no less than 100% of the applicable Federal rate, as defined
in Section 1274(d) of the Code, or (d) at the discretion of the Administrator, by any combination of (a), (b) and (c) above; or (e) at the discretion of the Administrator, payment of such other lawful consideration as
the Administrator may determine. 
 The Company shall then, if required by the applicable Agreement, reasonably promptly deliver
the Shares as to which such Stock Grant or Stock-Based Award was accepted to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set forth in the applicable Agreement. In determining what
constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or
“blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. 

The Administrator may, in its discretion, amend any term or condition of an outstanding Stock Grant, Stock-Based Award or applicable
Agreement provided (i) such term or condition as amended is permitted by the Plan, and (ii) any such amendment shall be made only with the consent of the Participant to whom the Stock Grant or Stock-Based Award was made, if the amendment
is adverse to the Participant. 
  

	12.	RIGHTS AS A SHAREHOLDER. 

No Participant to whom a Stock Right has been granted shall have rights as a shareholder with respect to any Shares covered by such Stock
Right, except after due exercise of the Option or acceptance of the Stock Grant or as set forth in any Agreement, and tender of the full purchase price, if any, for the Shares being purchased pursuant to such exercise or acceptance and registration
of the Shares in the Company’s share register in the name of the Participant. 
  

	13.	ASSIGNABILITY AND TRANSFERABILITY OF STOCK RIGHTS. 

 By its terms, a Stock Right granted to a Participant shall not be transferable by the Participant other than (i) by will or by the laws of descent and distribution, or (ii) as approved by the
Administrator in its discretion and set forth in the applicable Agreement. Notwithstanding the foregoing, an ISO transferred except in compliance with clause (i) above shall no longer qualify as an ISO. The designation of a beneficiary of
a Stock Right by a Participant, with the prior approval of the Administrator and in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided above, a Stock Right shall only be
exercisable or may only be accepted, during the Participant’s lifetime, by such Participant (or by his or her legal representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and
shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the
levy of any attachment or similar process upon a Stock Right, shall be null and void. 
  

	14.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN “FOR CAUSE” OR DEATH OR DISABILITY. 

Except as otherwise provided in a Participant’s Option Agreement, in the event of a termination of service (whether as an employee,
director or consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply: 
  

	 	a.	 A Participant who ceases to be an employee, director or consultant of the Company or of an Affiliate (for any reason other than termination “for
cause”, Disability, or death for which events there are 

  
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special rules in Paragraphs 15, 16, and 17, respectively), may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such termination of
service, but only within such term as the Administrator has designated in a Participant’s Option Agreement. 

  

	 	b.	Except as provided in Subparagraph (c) below, or Paragraph 16 or 17, in no event may an Option intended to be an ISO, be exercised later than three
months after the Participant’s termination of employment. 

  

	 	c.	The provisions of this Paragraph, and not the provisions of Paragraph 16 or 17, shall apply to a Participant who subsequently becomes Disabled or dies after the
termination of employment, director status or consultancy; provided, however, in the case of a Participant’s Disability or death within three months after the termination of employment, director status or consultancy, the Participant or the
Participant’s Survivors may exercise the Option within one year after the date of the Participant’s termination of service, but in no event after the date of expiration of the term of the Option. 

 

	 	d.	Notwithstanding anything herein to the contrary, if subsequent to a Participant’s termination of employment, termination of director status or termination of
consultancy, but prior to the exercise of an Option, the Board of Directors determines that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute “cause”, then such
Participant shall forthwith cease to have any right to exercise any Option. 

  

	 	e.	A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of temporary disability (any disability other
than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s
employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. 

  

	 	f.	Except as required by law or as set forth in a Participant’s Option Agreement, Options granted under the Plan shall not be affected by any change of a
Participant’s status within or among the Company and any Affiliates, so long as the Participant continues to be an employee, director or consultant of the Company or any Affiliate. 

 

	15.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE “FOR CAUSE”. 

 Except as otherwise provided in a Participant’s Option Agreement, the following rules apply if the Participant’s service (whether as an employee, director or consultant) with the Company or
an Affiliate is terminated “for cause” prior to the time that all his or her outstanding Options have been exercised: 
  

	 	a.	All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated “for cause” will immediately be forfeited.

  

	 	b.	For purposes of this Plan, “cause” shall include (and is not limited to) dishonesty with respect to the Company or any Affiliate, insubordination, substantial
malfeasance or non-feasance of duty, unauthorized disclosure of confidential information, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant
and the Company, and conduct substantially prejudicial to the business of the Company or any Affiliate. The determination of the Administrator as to the existence of “cause” will be conclusive on the Participant and the Company.

  

	 	c.	“Cause” is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s
finding of “cause” occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service but prior to the exercise of an Option, that either prior or subsequent to the Participant’s
termination the Participant engaged in conduct which would constitute “cause”, then the right to exercise any Option is forfeited. 

  
 9 

	 	d.	Any provision in an agreement between the Participant and the Company or an Affiliate, which contains a conflicting definition of “cause” for termination and
which is in effect at the time of such termination, shall supersede the definition in this Plan with respect to that Participant. 

  

	16.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY. 

 Except as otherwise provided in a Participant’s Option Agreement: 
  

	 	a.	A Participant who ceases to be an employee, director or consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such
Participant: 

 (i) To the extent that the Option has become exercisable but has not been
exercised on the date of Disability; and 
 (ii) In the event rights to exercise the Option accrue
periodically, to the extent of a pro rata portion through the date of Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number
of days accrued in the current vesting period prior to the date of Disability. 
  

	 	b.	A Disabled Participant may exercise such rights only within the period ending one year after the date of the Participant’s Disability, notwithstanding that the
Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not become Disabled and had continued to be an employee, director or consultant or, if earlier, within the originally
prescribed term of the Option. 

  

	 	c.	The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set
forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the
cost of which examination shall be paid for by the Company. 

  

	17.	EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

 Except as otherwise provided in a Participant’s Option Agreement: 
  

	 	a.	In the event of the death of a Participant while the Participant is an employee, director or consultant of the Company or of an Affiliate, such Option may be exercised
by the Participant’s Survivors: 

 (i) To the extent that the Option has become
exercisable but has not been exercised on the date of death; and 
 (ii) In the event rights to exercise the
Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of
days accrued in the current vesting period prior to the Participant’s date of death. 
  

	 	b.	If the Participant’s Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of
such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an employee, director or consultant or, if earlier,
within the originally prescribed term of the Option. 

  

	18.	EFFECT OF TERMINATION OF SERVICE ON UNACCEPTED STOCK GRANTS. 

 In the event of a termination of service (whether as an employee, director or consultant) with the Company or an Affiliate for any reason before the Participant has accepted a Stock Grant, such offer
shall terminate. 

  
 10 

 For purposes of this Paragraph 18 and Paragraph 19 below, a Participant to whom a
Stock Grant has been offered and accepted under the Plan who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave
of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate,
except as the Administrator may otherwise expressly provide. 
 In addition, for purposes of this Paragraph 18 and
Paragraph 19 below, any change of employment or other service within or among the Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an
employee, director or consultant of the Company or any Affiliate. 
  

	19.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE OTHER THAN “FOR CAUSE” OR DEATH OR DISABILITY. 

Except as otherwise provided in a Participant’s Stock Grant Agreement, in the event of a termination of service (whether as an
employee, director or consultant), other than termination “for cause,” Disability, or death for which events there are special rules in Paragraphs 20, 21, and 22, respectively, before all forfeiture provisions or Company rights
of repurchase shall have lapsed, then the Company shall have the right to cancel or repurchase that number of Shares subject to a Stock Grant as to which the Company’s forfeiture or repurchase rights have not lapsed. 

 

	20.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE “FOR CAUSE”. 

 Except as otherwise provided in a Participant’s Stock Grant Agreement, the following rules apply if the Participant’s service (whether as an employee, director or consultant) with the
Company or an Affiliate is terminated “for cause”: 
  

	 	a.	All Shares subject to any Stock Grant that remain subject to forfeiture provisions or as to which the Company shall have a repurchase right shall be immediately
forfeited to the Company as of the time the Participant is notified his or her service is terminated for Cause. 

  

	 	b.	For purposes of this Plan, “cause” shall include (and is not limited to) dishonesty with respect to the employer, insubordination, substantial malfeasance or
non-feasance of duty, unauthorized disclosure of confidential information, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the
Company, and conduct substantially prejudicial to the business of the Company or any Affiliate. The determination of the Administrator as to the existence of “cause” will be conclusive on the Participant and the Company.

  

	 	c.	“Cause” is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s
finding of “cause” occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service, that either prior or subsequent to the Participant’s termination the Participant engaged in
conduct which would constitute “cause,” then the Company’s right to repurchase all of such Participant’s Shares shall apply. 

  

	 	d.	Any provision in an agreement between the Participant and the Company or an Affiliate, which contains a conflicting definition of “cause” for termination and
which is in effect at the time of such termination, shall supersede the definition in this Plan with respect to that Participant. 

  

	21.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE FOR DISABILITY. 

 Except as otherwise provided in a Participant’s Stock Grant Agreement, the following rules apply if a Participant ceases to be an employee, director or consultant of the Company or of an
Affiliate by reason of 

  
 11 

 
Disability: to the extent the forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the
event such forfeiture provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant through the date of Disability as would have lapsed had
the Participant not become Disabled. The proration shall be based upon the number of days accrued prior to the date of Disability. 
 The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between
the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be
paid for by the Company. 
  

	22.	EFFECT ON STOCK GRANTS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

 Except as otherwise provided in a Participant’s Stock Grant Agreement, the following rules apply in the event of the death of a Participant while the Participant is an employee, director or
consultant of the Company or of an Affiliate: to the extent the forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of death, they shall be exercisable; provided, however, that in the event such forfeiture
provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant through the date of death as would have lapsed had the Participant not died.
The proration shall be based upon the number of days accrued prior to the Participant’s death. 
  

	23.	PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares to be issued upon the particular exercise or acceptance of a Stock Right shall have been
effectively registered under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless and until the following conditions
have been fulfilled: 
  

	 	a.	The person(s) who exercise(s) or accept(s) such Stock Right shall warrant to the Company, prior to the receipt of such Shares, that such
person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be
bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing their Shares issued pursuant to such exercise or such grant: 

“The shares represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any
person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel
satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws.” 

 

	 	b.	At the discretion of the Administrator, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise or
acceptance in compliance with the 1933 Act without registration thereunder. 

  

	24.	DISSOLUTION OR LIQUIDATION OF THE COMPANY. 

 Upon the dissolution or liquidation of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all Stock Grants and Stock-Based Awards which have not been
accepted will terminate and become null and void; provided, however, that if the rights of a Participant or a Participant’s Survivors have not otherwise terminated and expired, the Participant or the Participant’s Survivors will have the

  
 12 

 
right immediately prior to such dissolution or liquidation to exercise or accept any Stock Right to the extent that the Stock Right is exercisable or subject to acceptance as of the date
immediately prior to such dissolution or liquidation. Upon the dissolution or liquidation of the Company, any outstanding Stock-Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the
applicable Agreement. 
  

	25.	ADJUSTMENTS. 

 Upon the
occurrence of any of the following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall be adjusted as hereinafter provided, unless otherwise specifically provided in a Participant’s
Agreement: 
 a. Stock Dividends and Stock Splits. If (i) the shares of Common Stock shall be subdivided
or combined into a greater or smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, or (ii) additional shares or new or different shares or other securities of the
Company or other non-cash assets are distributed with respect to such shares of Common Stock, the number of shares of Common Stock deliverable upon the exercise of an Option or acceptance of a Stock Grant shall be appropriately increased or
decreased proportionately, and appropriate adjustments shall be made including, in the purchase price per share, to reflect such events. The number of Shares subject to the limitations in Paragraph 3(a), 3(b) and 4(c) shall also be
proportionately adjusted upon the occurrence of such events and the Performance Goals applicable to outstanding Performance-Based Awards. 
 b. Corporate Transactions. If the Company is to be consolidated with or acquired by another entity in a merger, sale of all or substantially all of the Company’s assets other than a
transaction to merely change the state of incorporation (a “Corporate Transaction”), the Administrator or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as
to outstanding Options, either (i) make appropriate provision for the continuation of such Options by substituting on an equitable basis for the Shares then subject to such Options either the consideration payable with respect to the
outstanding shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that all Options must be exercised (either (A) to
the extent then exercisable or, (B) at the discretion of the Administrator, all Options being made fully exercisable for purposes of this Subparagraph), within a specified number of days of the date of such notice, at the end of which period
the Options shall terminate; or (iii) terminate all Options in exchange for a cash payment equal to the excess of the Fair Market Value of the Shares subject to such Options (either (A) to the extent then exercisable or, (B) at the
discretion of the Administrator, all Options being made fully exercisable for purposes of this Subparagraph) over the exercise price thereof. 
 With respect to outstanding Stock Grants, the Administrator or the Successor Board, shall either (i) make appropriate provisions for the continuation of such Stock Grants on the same terms and
conditions by substituting on an equitable basis for the Shares then subject to such Stock Grants either the consideration payable with respect to the outstanding Shares of Common Stock in connection with the Corporate Transaction or securities of
any successor or acquiring entity; or (ii) terminate all Stock Grants in exchange for a cash payment equal to the excess of the Fair Market Value of the Shares subject to such Stock Grants over the purchase price thereof, if any. In addition,
in the event of a Corporate Transaction, the Administrator may waive any or all Company forfeiture or repurchase rights with respect to outstanding Stock Grants. 
 c. Recapitalization or Reorganization. In the event of a recapitalization or reorganization of the Company other than a Corporate Transaction pursuant to which securities of the Company
or of another corporation are issued with respect to the outstanding shares of Common Stock, a Participant upon exercising an Option or accepting a Stock Grant after the recapitalization or reorganization shall be entitled to receive for the
purchase price paid upon such exercise or acceptance of the number of replacement securities which would have been received if such Option had been exercised or Stock Grant accepted prior to such recapitalization or reorganization. 

  
 13 

 d. Adjustments to Stock-Based Awards. Upon the happening of any of the
events described in Subparagraphs a, b or c above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs. The Administrator or the Successor Board shall determine the specific
adjustments to be made under this Paragraph 25, including, but not limited to the effect if any, of a Change of Control and, subject to Paragraph 4, its determination shall be conclusive. 

e. Modification of ISOs. Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph a, b or c
above with respect to ISOs shall be made only after the Administrator determines whether such adjustments would constitute a “modification” of such ISOs (as that term is defined in Section 424(h) of the Code) or would cause any
adverse tax consequences for the holders of such ISOs. If the Administrator determines that such adjustments made with respect to ISOs would constitute a modification of such ISOs, it may refrain from making such adjustments, unless the holder of an
ISO specifically agrees in writing that such adjustment be made and such writing indicates that the holder has full knowledge of the consequences of such “modification” on his or her income tax treatment with respect to the ISO. This
paragraph shall not apply to the acceleration of the vesting of any ISO that would cause any portion of the ISO to violate the annual vesting limitation contained in Section 422(d) of the Code, as described in Paragraph 6b(iv).

 f. Modification of Performance-Based Awards. Notwithstanding the foregoing, with respect to any
Performance-Based Award that is intended to comply as “performance based compensation” under Section 162(m) of the Code, the Committee may adjust downwards, but not upwards, the number of Shares payable pursuant to a
Performance-Based Award, and the Committee may not waive the achievement of the applicable Performance Goals except in the case of death or disability of the Participant. 

 

	26.	ISSUANCES OF SECURITIES. 

Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of
stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends paid in cash
or in property (including without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right. 
  

	27.	FRACTIONAL SHARES. 

 No
fractional shares shall be issued under the Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional shares equal to the Fair Market Value thereof. 

 

	28.	CONVERSION OF ISOs INTO NON-QUALIFIED OPTIONS; TERMINATION OF ISOs. 

 The Administrator, at the written request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s ISOs (or any portions thereof) that have not
been exercised on the date of conversion into Non-Qualified Options at any time prior to the expiration of such ISOs, regardless of whether the Participant is an employee of the Company or an Affiliate at the time of such conversion. At the time of
such conversion, the Administrator (with the consent of the Participant) may impose such conditions on the exercise of the resulting Non-Qualified Options as the Administrator in its discretion may determine, provided that such conditions shall not
be inconsistent with this Plan. Nothing in the Plan shall be deemed to give any Participant the right to have such Participant’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until and unless the Administrator
takes appropriate action. The Administrator, with the consent of the Participant, may also terminate any portion of any ISO that has not been exercised at the time of such conversion. 

 

	29.	WITHHOLDING. 

 In the
event that any federal, state, or local income taxes, employment taxes, Federal Insurance Contributions Act (“F.I.C.A.”) withholdings or other amounts are required by applicable law or governmental

  
 14 

 
regulation to be withheld from the Participant’s salary, wages or other remuneration in connection with the exercise or acceptance of a Stock Right or in connection with a Disqualifying
Disposition (as defined in Paragraph 30) or upon the lapsing of any forfeiture provision or right of repurchase or for any other reason required by law, the Company may withhold from the Participant’s compensation, if any, or may require
that the Participant advance in cash to the Company, or to any Affiliate of the Company which employs or employed the Participant, the statutory minimum amount of such withholdings unless a different withholding arrangement, including the use of
shares of the Company’s Common Stock or a promissory note, is authorized by the Administrator (and permitted by law). For purposes hereof, the fair market value of the shares withheld for purposes of payroll withholding shall be determined in
the manner provided in Paragraph 1 above, as of the most recent practicable date prior to the date of exercise. If the fair market value of the shares withheld is less than the amount of payroll withholdings required, the Participant may be
required to advance the difference in cash to the Company or the Affiliate employer. The Administrator in its discretion may condition the exercise of an Option for less than the then Fair Market Value on the Participant’s payment of such
additional withholding. 
  

	30.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

 Each Employee who receives an ISO must agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any shares acquired pursuant to the exercise of an ISO. A
Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale or gift) of such shares before the later of (a) two years after the date the Employee was granted the ISO, or
(b) one year after the date the Employee acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such stock is sold, these holding period requirements do not
apply and no Disqualifying Disposition can occur thereafter. 
  

	31.	TERMINATION OF THE PLAN. 

The Plan will terminate on May 23, 2017, the date which is ten years from the earlier of the date of its adoption by
the Board of Directors and the date of its approval by the shareholders of the Company. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the Company; provided, however, that any such earlier
termination shall not affect any Agreements executed prior to the effective date of such termination. 
  

	32.	AMENDMENT OF THE PLAN AND AGREEMENTS. 

 The Plan may be amended by the shareholders of the Company. The Plan may also be amended by the Administrator , including, without limitation, to the extent necessary to qualify any or all outstanding
Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for favorable federal income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under Section 422 of the Code;
to the extent necessary to qualify the shares issuable upon exercise or acceptance of any outstanding Stock Rights granted, or Stock Rights to be granted, under the Plan for listing on any national securities exchange or quotation in any national
automated quotation system of securities dealers; and in order to continue to comply with Section 162(m) of the Code; provided that any amendment approved by the Administrator which the Administrator determines is of a scope that requires
shareholder approval shall be subject to obtaining such shareholder approval. Nothing in this Paragraph 32 shall limit the Administrator’s authority to take any action permitted pursuant to Paragraph 25. 

Any modification or amendment of the Plan shall not, without the consent of a Participant, adversely affect his or her rights under a
Stock Right previously granted to him or her. With the consent of the Participant affected, the Administrator may amend outstanding Agreements in a manner which may be adverse to the Participant but which is not inconsistent with the Plan. In the
discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which is not adverse to the Participant. 

  
 15 

	33.	EMPLOYMENT OR OTHER RELATIONSHIP. 

 Nothing in this Plan or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy or director status of a Participant, nor to prevent a Participant
from terminating his or her own employment, consultancy or director status or to give any Participant a right to be retained in employment or other service by the Company or any Affiliate for any period of time. 

 

	34.	GOVERNING LAW. 

 This Plan
shall be construed and enforced in accordance with the law of the State of Delaware. 

  
 16 

 INCENTIVE STOCK OPTION AGREEMENT 

ENERNOC, INC. 
 AGREEMENT made as of the      day of             
200            , between EnerNOC, Inc. (the “Company”), a Delaware corporation
and                    , an employee of the Company (the “Employee”). 

WHEREAS, the Company desires to grant to the Employee an Option to purchase shares of its common stock, $.001 par value per share (the
“Shares”), under and for the purposes set forth in the Company’s Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the “Plan”); 
 WHEREAS, the Company and the Employee understand and agree that any terms used and not defined herein have the same meanings as in the Plan; and 

WHEREAS, the Company and the Employee each intend that the Option granted herein qualify as an ISO. 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The
Company hereby grants to the Employee the right and option to purchase all or any part of an aggregate of             Shares, on the terms and conditions and subject to all the limitations
set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by reference. The Employee acknowledges receipt of a copy of the Plan. 

 

	 	2.	PURCHASE PRICE. 

 The
purchase price of the Shares covered by the Option shall be $            per Share, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or
other events affecting the holders of Shares after the date hereof (the “Purchase Price”). Payment shall be made in accordance with Paragraph 9 of the Plan. 

 

	 	3.	EXERCISABILITY OF OPTION. 

Subject to the terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become exercisable as
follows: 
  

					
	On the first anniversary of the date of this Agreement	  	up to	  	 Shares

			
	On the second anniversary of the date of this Agreement	  	an additional	  	 Shares

			
	On the third anniversary of the date of this Agreement	  	an additional	  	 Shares

			
	On the fourth anniversary of the date of this Agreement	  	an additional	  	 Shares

 The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement
and the Plan. 
 [Accelerated vesting on Change of Control to be determined on a grant-by-grant basis] [Notwithstanding
the foregoing, in the event of a Change of Control (as defined below),      % of the Shares which would have vested in each vesting installment remaining under this Option will be vested for purposes of
Section 24(B) of the Plan unless this Option has otherwise expired or been terminated pursuant to its terms or the terms of the Plan. 

 Change of Control means the occurrence of any of the following events: 

(i) Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended) becomes the “Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented
by the Company’s then outstanding voting securities (excluding for this purpose the Company or its Affiliates or any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board of
Directors does not approve; or 
 (ii) Merger/Sale of Assets. A merger or consolidation of the Company
whether or not approved by the Board of Directors, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or the parent of such corporation) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation
outstanding immediately after such merger or consolidation, or the stockholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

(iii) Change in Board Composition. A change in the composition of the Board of Directors, as a result of which
fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of [insert grant date], or (B) are elected, or nominated for election, to
the Board of Directors with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company).] 
  

	 	4.	TERM OF OPTION. 

 This
Option shall terminate              years from the date of this Agreement or, if the Employee owns as of the date hereof more than 10% of the total combined voting power of all
classes of capital stock of the Company or an Affiliate, five years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 

If the Employee ceases to be an employee of the Company or of an Affiliate (for any reason other than the death or Disability of the
Employee or termination of the Employee’s employment for “cause”), the Option may be exercised, if it has not previously terminated, within three months after the date the Employee ceases to be an employee of the Company or an
Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter except as set forth below. In such event, the Option shall be exercisable only to the extent that the Option has become
exercisable and is in effect at the date of such cessation of employment. 
 If the Employee ceases to be an employee of the
Company or of an Affiliate but continues after termination of employment to provide service to the Company or an Affiliate as a consultant, this Option shall continue to vest in accordance with Section 3 above as if this Option had not
terminated until the Employee is no longer providing services to the Company. In such case, this Option shall automatically convert and be deemed a Non-Qualified Option as of the date that is three months from termination of the Employee’s
employment and this Option shall continue on the same terms and conditions set forth herein until such Employee is no longer providing service to the Company or an Affiliate. 
 Notwithstanding the foregoing, in the event of the Employee’s Disability or death within three months after the termination of employment, the Employee or the Employee’s Survivors may exercise
the Option within one year after the date of the Employee’s termination of employment, but in no event after the date of expiration of the term of the Option. 
 In the event the Employee’s employment is terminated by the Employee’s employer for “cause”, the Employee’s right to exercise any unexercised portion of this Option shall cease
immediately as of the time the Employee is notified his or her employment is terminated for “cause,” and this Option 

  
 2 

 
shall thereupon terminate. Notwithstanding anything herein to the contrary, if subsequent to the Employee’s termination as an employee, but prior to the exercise of the Option, the Board of
Directors of the Company determines that, either prior or subsequent to the Employee’s termination, the Employee engaged in conduct which would constitute “cause,” then the Employee shall immediately cease to have any right to
exercise the Option and this Option shall thereupon terminate. 
 In the event of the Disability of the Employee, as determined
in accordance with the Plan, the Option shall be exercisable within one year after the Employee’s termination of employment or, if earlier, within the term originally prescribed by the Option. In such event, the Option shall be exercisable:

 (a) to the extent that the Option has become exercisable but has not been exercised as of the date of
Disability; and 
 (b) in the event rights to exercise the Option accrue periodically, to the extent of a
pro rata portion through the date of Disability of any additional vesting rights that would have accrued on the next vesting date had the Employee not become Disabled. The proration shall be based upon the number of days accrued in the current
vesting period prior to the date of Disability. 
 In the event of the death of the Employee while an employee of the Company or
of an Affiliate, the Option shall be exercisable by the Employee’s Survivors within one year after the date of death of the Employee or, if earlier, within the originally prescribed term of the Option. In such event, the Option shall be
exercisable: 
 (x) to the extent that the Option has become exercisable but has not been exercised as of
the date of death; and 
 (y) in the event rights to exercise the Option accrue periodically, to the extent
of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Employee not died. The proration shall be based upon the number of days accrued in the current vesting period
prior to the Employee’s date of death. 
  

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto.
Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance with Paragraph 9
of the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the
Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register
in the name of the person so exercising the Option (or, if the Option shall be exercised by the Employee and if the Employee shall so request in the notice exercising the Option, shall be registered in the name of the Employee and another person
jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than
the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable.

  

	 	6.	PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except
that no fractional share shall be issued pursuant to this Option. 

  
 3 

	 	7.	NON-ASSIGNABILITY. 

 The
Option shall not be transferable by the Employee otherwise than by will or by the laws of descent and distribution. The Option shall be exercisable, during the Employee’s lifetime, only by the Employee (or, in the event of legal incapacity or
incompetency, by the Employee’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any
attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be
null and void. 
  

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Employee shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Employee.
Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration.

  

	 	9.	ADJUSTMENTS. 

 The Plan
contains provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors
to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference. [; provided, however, that in the event of a Change of Control (as defined in Section 3
above)             % of the Shares which would have vested in each vesting installment remaining under this Option will be vested for purposes of Section 25(B) of the Plan.]

  

	 	10.	TAXES. 

 The Employee
acknowledges that any income or other taxes due from him or her with respect to this Option or the Shares issuable pursuant to this Option shall be the Employee’s responsibility. 

In the event of a Disqualifying Disposition (as defined in Section 15 below) or if the Option is converted into a Non-Qualified
Option and such Non-Qualified Option is exercised, the Company may withhold from the Employee’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such amount that is considered
compensation includable in such person’s gross income. At the Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Employee on
exercise of the Option. The Employee further agrees that, if the Company does not withhold an amount from the Employee’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Employee will reimburse the
Company on demand, in cash, for the amount under-withheld. 
  

	 	11.	PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively registered
under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless and until the following conditions have been fulfilled:

 (a) The person(s) who exercise the Option shall warrant to the Company, at the time of such
exercise, that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring
such Shares shall be bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing the Shares issued pursuant to such exercise: 

  
 4 

 “The shares represented by this certificate have been taken for investment and they may
not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company
shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and 

(b) If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be
issued upon such particular exercise in compliance with the 1933 Act without registration thereunder. Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any
consent, which the Company deems necessary under any applicable law (including without limitation state securities or “blue sky” laws). 
  

	 	12.	RESTRICTIONS ON TRANSFER OF SHARES. 

 12.1 The Employee agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and such Employee is requested by the Company and any underwriter engaged
by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not transfer, whether in privately negotiated transactions or to the public in
open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such period as is determined by the Company and the underwriters, not to exceed 180 days following the closing of the offering, plus
such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of Securities Dealers, Inc. or similar rules thereto (such period, the “Lock-Up Period”). Such agreement
shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and conditions. Notwithstanding whether the Employee has signed such an agreement, the Company
may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the end of the Lock-Up Period. 
 12.2 The Employee acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty or obligation to disclose to the Employee any material information
regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the employment of the Employee by the Company, including, without limitation, any information concerning plans for the
Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 
  

	 	13.	NO OBLIGATION TO EMPLOY. 

The Company is not by the Plan or this Option obligated to continue the Employee as an employee of the Company or an Affiliate. The
Employee acknowledges: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option is a one-time benefit which does not create any contractual or other right
to receive future grants of options, or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to
each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Employee’s participation in the Plan is voluntary; (v) that the value of the
Option is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; and (vi) that the Option is not part of normal or expected compensation for purposes of calculating any severance,
resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 

  
 5 

	 	14.	OPTION IS INTENDED TO BE AN ISO. 

 The parties each intend that the Option be an ISO so that the Employee (or the Employee’s Survivors) may qualify for the favorable tax treatment provided to holders of Options that meet the standards
of Section 422 of the Code. Any provision of this Agreement or the Plan which conflicts with the Code so that this Option would not be deemed an ISO is null and void and any ambiguities shall be resolved so that the Option qualifies as an ISO.
Nonetheless, if the Option is determined not to be an ISO, the Employee understands that neither the Company nor any Affiliate is responsible to compensate him or her or otherwise make up for the treatment of the Option as a Non-Qualified Option and
not as an ISO. The Employee should consult with the Employee’s own tax advisors regarding the tax effects of the Option and the requirements necessary to obtain favorable tax treatment under Section 422 of the Code, including, but not
limited to, holding period requirements. 
 Notwithstanding the foregoing, to the extent that the Option is not deemed to be an
ISO pursuant to Section 422(d) of the Code because the aggregate fair market value (determined as of the date hereof) of any of the Shares with respect to which this ISO is granted becomes exercisable for the first time during any calendar
year in excess of $100,000, the portion of the Option representing such excess value shall be treated as a Non-Qualified Option and the Employee shall be deemed to have taxable income measured by the difference between the then fair market value of
the Shares received upon exercise and the price paid for such Shares pursuant to this Agreement. 
  

	 	15.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

 The Employee agrees to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the Option. A Disqualifying
Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale) of such Shares before the later of (a) two years after the date the Employee was granted the Option or (b) one year after the
date the Employee acquired Shares by exercising the Option, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before the Shares are sold, these holding period requirements do not apply and no
Disqualifying Disposition can occur thereafter. 
  

	 	16.	NOTICES. 

 Any notices
required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 

	
	EnerNOC, Inc.
	 Attn: Chief Financial Officer 101 Federal Street, Suite 1100

Boston, MA 02110

 If to the Employee: 

 

	
	  
	  
	  
	

  
 6 

 or to such other address or addresses of which notice in the same manner has previously been given. Any such
notice shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

 

	 	17.	GOVERNING LAW. 

 This
Agreement shall be construed and enforced in accordance with the law of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties
hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the District of
Massachusetts. 
  

	 	18.	BENEFIT OF AGREEMENT. 

Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding
upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
  

	 	19.	ENTIRE AGREEMENT. 

 This
Agreement, together with the Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however,
in any event, this Agreement shall be subject to and governed by the Plan. 
  

	 	20.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be modified or amended as provided in the Plan. 
  

	 	21.	WAIVERS AND CONSENTS. 

Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

 

	 	22.	DATA PRIVACY. 

 By
entering into this Agreement, the Employee: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its
Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of options and the administration of the Plan; (ii) waives any data privacy rights he or she may have with respect to such
information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 7 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Employee has hereunto set his or her hand, all as of the day and year first above written. 
  

					
	ENERNOC, INC.
		
	By:	 	 
		 	Name	 	
		 	Title	 	
	
	 
	Employee

  
 8 

 Exhibit A 
 NOTICE OF EXERCISE OF INCENTIVE STOCK OPTION 
 TO: EnerNOC, Inc. 

IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the Securities and
Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 
 Ladies and Gentlemen: 
 I hereby exercise my Incentive Stock Option to
purchase                 shares (the “Shares”) of the common stock, $.001 par value, of EnerNOC, Inc. (the “Company”), at the exercise
price of $             per share, pursuant to and subject to the terms of that certain Incentive Stock Option Agreement between the undersigned and the Company
dated                     , 200  . 
 I understand the nature of the investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant
national, state and local income tax and securities laws affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 
 I am paying the option exercise price for the Shares as follows: 
  

 
 Please issue the
Shares (check one): 
  ̈ to me; or 

 ̈ to me
and                                         
                , as joint tenants with right of survivorship, 
 at the following address: 
 ________________________________________ 

________________________________________ 
 ________________________________________ 

  
 A-1

 My mailing address for shareholder communications, if different from the address listed
above, is: 
 ________________________________________ 
 ________________________________________ 
 ________________________________________

  

	
	Very truly yours,
	
	  
	Employee (signature)
	
	 
	Print Name
	
	 
	Date
	
	 
	Social Security Number

  
 A-2

 NON-QUALIFIED STOCK OPTION AGREEMENT 

ENERNOC, INC. 
 AGREEMENT made as of the         day of 200    , between EnerNOC, Inc. (the “Company”), a Delaware
corporation,                 , and                 (the
“Participant”). 
 WHEREAS, the Company desires to grant to the Participant an Option to purchase shares of its common
stock, $.001 par value per share (the “Shares”), under and for the purposes set forth in the Company’s Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the “Plan”); 

WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the same meanings as in the
Plan; and 
 WHEREAS, the Company and the Participant each intend that the Option granted herein shall be a Non-Qualified
Option. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable
consideration, the parties hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The
Company hereby grants to the Participant the right and option to purchase all or any part of an aggregate of                 Shares, on the terms and conditions and
subject to all the limitations set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by reference. The Participant acknowledges receipt of a copy of the Plan. 

 

	 	2.	PURCHASE PRICE. 

 The
purchase price of the Shares covered by the Option shall be $             per Share, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split
or other events affecting the holders of Shares after the date hereof (the “Purchase Price”). Payment shall be made in accordance with Paragraph 9 of the Plan. 

 

	 	3.	EXERCISABILITY OF OPTION. 

Subject to the terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become exercisable as
follows: 
  

					
	On the first anniversary of the date of this Agreement	  	up to	  	 Shares

			
	On the second anniversary of the date of this Agreement	  	an additional	  	 Shares

			
	On the third anniversary of the date of this Agreement	  	an additional	  	 Shares

			
	On the fourth anniversary of the date of this Agreement	  	an additional	  	 Shares

 The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement
and the Plan. 
 [Accelerated vesting on Change of Control to be determined on a grant-by-grant basis] [Notwithstanding
the foregoing, in the event of a Change of Control (as defined below),        % of the Shares which would have vested in each vesting installment remaining under this Option will be vested for purposes of
Section 24(B) of the Plan unless this Option has otherwise expired or been terminated pursuant to its terms or the terms of the Plan. 
 Change of Control means the occurrence of any of the following events: 
 (i) Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “Beneficial Owner” (as
defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities (excluding for this purpose the
Company or its Affiliates or any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board of Directors does not approve; or 

 (ii) Merger/Sale of Assets. A merger or consolidation of the
Company whether or not approved by the Board of Directors, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity or the parent of such corporation) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation
outstanding immediately after such merger or consolidation, or the stockholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

(iii) Change in Board Composition. A change in the composition of the Board of Directors, as a result of which
fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of [insert grant date], or (B) are elected, or nominated for election, to
the Board of Directors with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company).] 
  

	 	4.	TERM OF OPTION. 

 This
Option shall terminate              years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 

If the Participant ceases to be an employee, director or consultant of the Company or of an Affiliate (for any reason other than the
death or Disability of the Participant or termination of the Participant for “cause”, the Option may be exercised, if it has not previously terminated, within three months after the date the Participant ceases to be an employee, director
or consultant of the Company or an Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter. In such event, the Option shall be exercisable only to the extent that the Option has
become exercisable and is in effect at the date of such cessation of service. 
 Notwithstanding the foregoing, in the event of
the Participant’s Disability or death within three months after the termination of service, the Participant or the Participant’s Survivors may exercise the Option within one year after the date of the Participant’s termination of
service, but in no event after the date of expiration of the term of the Option. 
 In the event the Participant’s service
is terminated by the Company or an Affiliate for “cause”, the Participant’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Participant is notified his or her service is terminated
for “cause,” and this Option shall thereupon terminate. Notwithstanding anything herein to the contrary, if subsequent to the Participant’s termination, but prior to the exercise of the Option, the Board of Directors of the Company
determines that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute “cause,” then the Participant shall immediately cease to have any right to exercise the Option and
this Option shall thereupon terminate. 
 In the event of the Disability of the Participant, as determined in accordance with
the Plan, the Option shall be exercisable within one year after the Participant’s termination of service or, if earlier, within the term originally prescribed by the Option. In such event, the Option shall be exercisable: 

(a) to the extent that the Option has become exercisable but has not been exercised as of the date of Disability; and

  
 2 

 (b) in the event rights to exercise the Option accrue periodically, to
the extent of a pro rata portion through the date of Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued
in the current vesting period prior to the date of Disability. 
 In the event of the death of the Participant while an
employee, director or consultant of the Company or of an Affiliate, the Option shall be exercisable by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, within the originally prescribed term
of the Option. In such event, the Option shall be exercisable: 
 (x) to the extent that the Option has
become exercisable but has not been exercised as of the date of death; and 
 (y) in the event rights to
exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon
the number of days accrued in the current vesting period prior to the Participant’s date of death. 
  

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto.
Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance with Paragraph 9
of the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the
Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register
in the name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant shall so request in the notice exercising the Option, shall be registered in the Company’s share register in the
name of the Participant and another person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to
Section 4 hereof, by any person other than the Participant, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided
herein shall be fully paid and nonassessable. 
  

	 	6.	PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except
that no fractional share shall be issued pursuant to this Option. 
  

	 	7.	NON-ASSIGNABILITY. 

 The
Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution or pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security
Act or the rules thereunder. Except as provided above in this paragraph, the Option shall be exercisable, during the Participant’s lifetime, only by the Participant (or, in the event of legal incapacity or incompetency, by the
Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer,
assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be null and void.

  
 3 

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Participant shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Participant.
Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration.

  

	 	9.	ADJUSTMENTS. 

 The Plan
contains provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors
to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference. [; provided, however, that in the event of a Change of Control (as defined in Section 3 above)
        % of the Shares which would have vested in each vesting installment remaining under this Option will be vested for purposes of Section 25(B) of the Plan.] 

 

	 	10.	TAXES. 

 The Participant
acknowledges that upon exercise of the Option the Participant will be deemed to have taxable income measured by the difference between the then fair market value of the Shares received upon exercise and the price paid for such Shares pursuant to
this Agreement. The Participant acknowledges that any income or other taxes due from him or her with respect to this Option or the Shares issuable pursuant to this Option shall be the Participant’s responsibility. 

The Participant agrees that the Company may withhold from the Participant’s remuneration, if any, the minimum statutory amount of
federal, state and local withholding taxes attributable to such amount that is considered compensation includable in such person’s gross income. At the Company’s discretion, the amount required to be withheld may be withheld in cash from
such remuneration, or in kind from the Shares otherwise deliverable to the Participant on exercise of the Option. The Participant further agrees that, if the Company does not withhold an amount from the Participant’s remuneration sufficient to
satisfy the Company’s income tax withholding obligation, the Participant will reimburse the Company on demand, in cash, for the amount under-withheld. 
  

	 	11.	PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively registered
under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless and until the following conditions have been fulfilled:

 (a) The person(s) who exercise the Option shall warrant to the Company, at the time of such
exercise, that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring
such Shares shall be bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing the Shares issued pursuant to such exercise: 

“The shares represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any
person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel
satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and 

  
 4 

 (b) If the Company so requires, the Company shall have received an
opinion of its counsel that the Shares may be issued upon such particular exercise in compliance with the 1933 Act without registration thereunder. Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until
completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including without limitation state securities or “blue sky” laws). 

 

	 	12.	RESTRICTIONS ON TRANSFER OF SHARES. 

 12.1 The Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and such Participant is requested by the Company and any underwriter
engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not transfer, whether in privately negotiated transactions or to the
public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such period as is determined by the Company and the underwriters, not to exceed 180 days following the closing of the
offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of Securities Dealers, Inc. or similar rules thereto (such period, the “Lock-Up Period”). Such
agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and conditions. Notwithstanding whether the Participant has signed such an agreement,
the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the end of the Lock-Up Period. 

12.2 The Participant acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty
or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the employment of the Participant by the Company,
including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 

 

	 	13.	NO OBLIGATION TO MAINTAIN RELATIONSHIP. 

 The Company is not by the Plan or this Option obligated to continue the Participant as an employee, director or consultant of the Company or an Affiliate. The Participant acknowledges: (i) that the
Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or
benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the
time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Participant’s participation in the Plan is voluntary; (v) that the value of the Option is an extraordinary item of
compensation which is outside the scope of the Participant’s employment contract, if any; and (vi) that the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of
service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 

  
 5 

	 	14.	NOTICES. 

 Any notices
required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 

	
	EnerNOC, Inc.
	Attn: Chief Financial Officer
	 101 Federal Street, Suite 1100
 Boston, MA 02110

 If to the Participant: 

 

	
	 
	
	  
	
	  

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice
shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

 

	 	15.	GOVERNING LAW. 

 This
Agreement shall be construed and enforced in accordance with the law of the State of Delaware without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties
hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the District of
Massachusetts. 
  

	 	16.	BENEFIT OF AGREEMENT. 

Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding
upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
  

	 	17.	ENTIRE AGREEMENT. 

 This
Agreement, together with the Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however,
in any event, this Agreement shall be subject to and governed by the Plan. 
  

	 	18.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be modified or amended as provided in the Plan. 
  

	 	19.	WAIVERS AND CONSENTS. 

Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall 

  
 6 

 
constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific
instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 
  

	 	20.	DATA PRIVACY. 

 By
entering into this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of
its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of options and the administration of the Plan; (ii) waives any data privacy rights he or she may have with respect to
such information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 
 [Remainder of Page Intentionally Left Blank] 

  
 7 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Participant has hereunto set his or her hand, all as of the day and year first above written. 
  

					
	ENERNOC, INC.
		
	By:	 	 
		 	Name	 	
		 	Title	 	
	
	 
	Participant

  
 8 

 Exhibit A 
 NOTICE OF EXERCISE OF NON-QUALIFIED STOCK OPTION 
 TO: EnerNOC, Inc. 

IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the Securities and
Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 
 Ladies and Gentlemen: 
 I hereby exercise my Non-Qualified Stock Option to
purchase                 shares (the “Shares”) of the common stock, $.001 par value, of EnerNOC, Inc. (the “Company”), at the exercise
price of $             per share, pursuant to and subject to the terms of that certain Non-Qualified Stock Option Agreement between the undersigned and the Company dated
            , 200    . 
 I understand the
nature of the investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws
affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 
 I am paying the option exercise
price for the Shares as follows: 
  
  

Please issue the Shares (check one): 
  ̈ to me; or 
  ̈ to me and                     , as joint tenants with right of survivorship, 

at the following address: 
 __________________________________________ 

__________________________________________ 
 __________________________________________ 

  
 A-1

 My mailing address for shareholder communications, if different from the address listed
above, is: 
 ___________________________________ 
 ___________________________________ 
 ___________________________________

  

			
	Very truly yours,
	
	 
	Participant (signature)
	
	 
	Print Name
	
	 
	Date
	
	 
	Social Security Number

  
 A-2

 RESTRICTED STOCK AGREEMENT 

ENERNOC, INC. 
 AGREEMENT made as of the                 , 20     (the “Grant Date”), between
EnerNOC, Inc. (the “Company”), a Delaware corporation, and                      (the “Participant”). 

WHEREAS, the Company has adopted the EnerNOC, Inc. Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the
“Plan”) to promote the interests of the Company by providing an incentive for employees, directors and consultants of the Company or its Affiliates; 
 WHEREAS, pursuant to the provisions of the Plan, the Company desires to offer to the Participant shares of the Company’s common stock, $.001 par value per share (“Common Stock”), in
accordance with the provisions of the Plan, all on the terms and conditions hereinafter set forth; 
 WHEREAS, Participant
wishes to accept said offer; and 
 WHEREAS, the parties hereto understand and agree that any terms used and not defined herein
have the meanings ascribed to such terms in the Plan. 
 NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. Terms of Grant. The Participant hereby accepts the offer of the Company to issue to the Participant, in accordance
with the terms of the Plan and this Agreement,                      (        ) Shares of the
Company’s Common Stock (such shares, subject to adjustment pursuant to Section 25 of the Plan and Subsection 2.1(h) hereof, the “Granted Shares”) at a purchase price of $.001 per share (the “Purchase Price”),
receipt of which is hereby acknowledged by the Participant’s prior service to the Company and which amount will be reported as income on the Participant’s W-2 for this calendar year. 

2.1. Forfeiture Provisions. 
 (a) Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer an employee, director or consultant of the Company or an Affiliate prior
to                      (the “Termination”), the Participant (or the Participant’s Survivor) shall, on the date of Termination,
immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). 

The Company’s Lapsing Forfeiture Right is as follows: 

(i) If the Participant’s Termination is prior to [the first anniversary of the Grant Date], all of the
Granted Shares shall be forfeited to the Company. 
 (ii) If the Participant’s Termination is on or
after [the first anniversary of the Grant Date], but prior to                     ,     % of the Granted Shares
shall be forfeited to the Company (rounded up to the next highest whole number of shares), provided that             % of the Granted Shares shall no longer be subject to the Lapsing
Forfeiture Right on the 1st of each quarter after                      and until
                . 

 (b) Effect of Termination for Disability or upon Death. The following
rules apply if the Participant’s Termination is by reason of Disability or death: to the extent the Company’s Lapsing Forfeiture Right has not lapsed as of the date of Disability or death, as case may be, the Participant shall
forfeit to the Company any or all of the Granted Shares subject to such Lapsing Forfeiture Right; provided, however, that the Company’s Lapsing Forfeiture Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted
Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the
Participant’s date of Disability or death, as the case may be. 
 (c) Effect of a For Cause
Termination. Notwithstanding anything to the contrary contained in this Agreement, in the event the Company or an Affiliate terminates the Participant’s employment or service for “cause” (as defined in the Plan) or in the
event the Administrator determines, within one year after the Participant’s termination, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct that would constitute “cause,” all of
the Granted Shares then held by the Participant shall be forfeited to the Company immediately as of the time the Participant is notified that he or she has been terminated for “cause” or that he or she engaged in conduct which would
constitute “cause”. 
 [Accelerated vesting on Change of Control to be determined on a grant-by-grant basis]
[(d) Effect of Change of Control. Except as otherwise provided in Subsection 2.1(c) above, the Company’s Lapsing Forfeiture Right shall terminate, and the Participant’s ownership of all Granted Shares then owned
by the Participant shall become vested in accordance with the terms and conditions set forth in Section 25(b) of the Plan.] 
 (e) Escrow. The certificates representing all Granted Shares acquired by the Participant hereunder which from time to time are subject to the Lapsing Forfeiture Right shall be delivered
to the Company and the Company shall hold such Granted Shares in escrow as provided in this Subsection 2.1(e). The Company shall promptly release from escrow and deliver to the Participant a certificate for the whole number of Granted Shares,
if any, as to which the Company’s Lapsing Forfeiture Right has lapsed. In the event of forfeiture to the Company of Granted Shares subject to the Lapsing Forfeiture Right, the Company shall release from escrow and cancel a certificate for the
number of Granted Shares so forfeited. Any cash or securities distributed in respect of the Granted Shares held in escrow, including, without limitation, ordinary cash dividends or shares issued as a result of stock splits, stock dividends or
other recapitalizations (“Retained Distributions”), shall also be held in escrow in the same manner as the Granted Shares and all Retained Distributions shall be forfeited to the Company or released from escrow and delivered to the
Participant, as the case may be, at such time and in such manner as the Granted Shares to which such Retained Distributions so relate. All ordinary cash dividends retained hereunder shall, during the period in which such dividends are retained by
the Company, be deposited into an account at a financial institution selected by the Company, which shall not be required to bear interest or be segregated in a separate account. 

(f) Prohibition on Transfer. The Participant recognizes and agrees that all Granted Shares and Retained Distributions
which are subject to the Lapsing Forfeiture Right may not be sold, transferred, assigned, hypothecated, pledged, encumbered or otherwise disposed of, whether voluntarily or by operation of law, other than to the Company (or its designee).
However, the Participant, with the approval of the Administrator, may transfer the Granted Shares and Retained Distributions for no consideration to or for the benefit of the Participant’s Immediate Family (including, without limitation,
to a trust for the benefit of the Participant’s Immediate Family or to a partnership or limited liability company for one or more members of the Participant’s Immediate Family), subject to such limits as the Administrator may establish,
and the transferee shall remain subject to all the terms and conditions applicable to this Agreement prior to such transfer and each such transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such
transfer. The term “Immediate Family” shall mean the Participant’s spouse, former spouse, parents, children, stepchildren, adoptive relationships, 

  
 2 

 
sisters, brothers, nieces and nephews and grandchildren (and, for this purpose, shall also include the Participant. The Company shall not be required to transfer any Granted Shares or
Retained Distributions on its books which shall have been sold, assigned or otherwise transferred in violation of this Subsection 2.1(f), or to treat as the owner of such Granted Shares or Retained Distributions, or to accord the right to vote as
such owner or to pay dividends to, any person or organization to which any such Granted Shares or Retained Distributions shall have been so sold, assigned or otherwise transferred, in violation of this Subsection 2.1(f). 

(g) Failure to Deliver Granted Shares to be Forfeited. In the event that the Granted Shares to be forfeited to the
Company under this Agreement are not in the Company’s possession pursuant to Subsection 2.1(e) above or otherwise and the Participant or the Participant’s Survivor fails to deliver such Granted Shares to the Company (or its designee),
the Company may immediately take such action as is appropriate to transfer record title of such Granted Shares from the Participant to the Company (or its designee) and treat the Participant and such Granted Shares in all respects as if delivery of
such Granted Shares had been made as required by this Agreement. The Participant hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence.

 (h) Adjustments. The Plan contains provisions covering the treatment of Shares in a number of contingencies
such as stock splits and mergers. Provisions in the Plan for adjustment with respect to the Granted Shares and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are
incorporated herein by reference. 
 2.2 General Restrictions on Transfer of Granted Shares. 

(a) The Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and
such Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not
transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such period as is determined by the Company and the
underwriters, not to exceed 90 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of Securities Dealers, Inc. or similar
rules thereto (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and
conditions. Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the
end of the Lock-Up Period. 
 (b) The Participant acknowledges and agrees that neither the Company nor, its shareholders
nor its directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a Termination,
including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 

3. Securities Law Compliance. The Participant specifically acknowledges and agrees that any sales of Granted Shares
shall be made in accordance with the requirements of the Securities Act of 1933, as amended. 

  
 3 

 4. Rights as a Stockholder. The Participant shall have all the rights of a
stockholder with respect to the Granted Shares, including voting and dividend rights, subject to the transfer and other restrictions set forth herein, including pursuant to Section 2.1(e) hereof and in the Plan. 

5. Legend. In addition to any legend required pursuant to the Plan, all certificates representing the Granted Shares to
be issued to the Participant pursuant to this Agreement shall have endorsed thereon a legend substantially as follows: 

“The shares represented by this certificate are subject to restrictions set forth in a Restricted Stock Agreement dated as of
             with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made available upon request.” 

6. Incorporation of the Plan. The Participant specifically understands and agrees that the Granted Shares issued under
the Plan are being sold to the Participant pursuant to the Plan, a copy of which Plan the Participant acknowledges he or she has read and understands and by which Plan he or she agrees to be bound. The provisions of the Plan are incorporated
herein by reference. 
 7. Tax Liability of the Participant and Payment of Taxes. The Participant acknowledges and
agrees that any income or other taxes due from the Participant with respect to the Granted Shares issued pursuant to this Agreement, including, without limitation, the Lapsing Forfeiture Right, shall be the Participant’s
responsibility. Without limiting the foregoing, the Participant agrees that, to the extent that the lapsing of restrictions on disposition of any of the Granted Shares or the declaration of dividends on any such shares before the lapse of such
restrictions on disposition results in the Participant’s being deemed to be in receipt of earned income under the provisions of the Code, the Company shall be entitled to immediate payment from the Participant of the amount of any tax required
to be withheld by the Company. 
 Upon execution of this Agreement, the Participant may file an election under Section 83
of the Code in substantially the form attached as Exhibit B. The Participant acknowledges that if he does not file such an election, as the Granted Shares are released from the Lapsing Forfeiture Right in accordance with
Section 2.1, the Participant will have income for tax purposes equal to the fair market value of the Granted Shares at such date, less the price paid for the Granted Shares by the Participant. The Participant has been given the opportunity
to obtain the advice of his or her tax advisors with respect to the tax consequences of the purchase of the Granted Shares and the provisions of this Agreement. 
 [If the Participant has not filed an election under Section 83 of the Code, the Participant shall be required to deposit with the Company an amount of cash equal to the amount determined by the
Company to be required with respect to the statutory minimum of the Participant’s estimated total federal, state and local tax obligations associated with the termination of the Lapsing Forfeiture Right with respect to the Granted
Shares. In connection with the foregoing, the Participant agrees that the Company shall authorize a registered broker(s) (the “Broker”) to sell on the date that the Granted Shares shall be released from the Lapsing Forfeiture
Right such number of Granted Shares as the Company instructs the Broker to sell to satisfy the Company’s withholding obligations, after deduction of the Broker’s commission, and the Broker shall remit to the Company the cash necessary in
order for the Company to satisfy its withholding obligation. The Company shall not deliver any of the Granted Shares until the deposit required herein for withholding has been made. In connection with such sale of Granted Shares, the
Participant shall execute any such documents requested by Broker in order to effectuate the sale of the Granted Shares and payment of the withholding obligation to the Company.] 

  
 4 

 8. Equitable Relief. The Participant specifically acknowledges and agrees
that in the event of a breach or threatened breach of the provisions of this Agreement or the Plan, including the attempted transfer of the Granted Shares by the Participant in violation of this Agreement, monetary damages may not be adequate to
compensate the Company, and, therefore, in the event of such a breach or threatened breach, in addition to any right to damages, the Company shall be entitled to equitable relief in any court having competent jurisdiction. Nothing herein shall
be construed as prohibiting the Company from pursuing any other remedies available to it for any such breach or threatened breach. 
 9. No Obligation to Maintain Relationship. The Company is not by the Plan or this Agreement obligated to continue the Participant as an employee, director or consultant of the Company or
an Affiliate. The Participant acknowledges: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Shares is a one-time benefit which does not create
any contractual or other right to receive future grants of shares, or benefits in lieu of shares; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when shares shall be granted, the
number of shares to be granted, the purchase price, and the time or times when each share shall be free from a lapsing repurchase or forfeiture right, will be at the sole discretion of the Company; (iv) that the Participant’s participation
in the Plan is voluntary; (v) that the value of the Shares is an extraordinary item of compensation which is outside the scope of the Participant’s employment contract, if any; and (vi) that the Shares are not part of normal or
expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 

10. Notices. Any notices required or permitted by the terms of this Agreement or the Plan shall be given by recognized
courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 
 If
to the Company: 
 EnerNOC, Inc. 

Attn: Chief Financial Officer 
 101 Federal Street, Suite 1100 
 Boston, MA 02110 

If to the Employee: 
 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be deemed to have been given on the earliest of receipt, one business day
following delivery by the sender to a recognized courier service, or three business days following mailing by registered or certified mail. 
 11. Benefit of Agreement. Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties hereto. 
 12. Governing Law. This Agreement shall be
construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, whether at law or
in equity, the parties hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the
District of Massachusetts. 

  
 5 

 13. Severability. If any provision of this Agreement is held to be invalid
or unenforceable by a court of competent jurisdiction, then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent that this is impossible, then such provision shall be
deemed to be excised from this Agreement, and the validity, legality and enforceability of the rest of this Agreement shall not be affected thereby. 
 14. Entire Agreement. This Agreement, together with the Plan, constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and
supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to
interpret, change or restrict the express terms and provisions of this Agreement provided, however, in any event, this Agreement shall be subject to and governed by the Plan. 
 15. Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be modified or amended as provided in the Plan. Except as provided in the Plan,
the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be
deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for
which it was given, and shall not constitute a continuing waiver or consent. 
 16. Consent of Spouse/Domestic
Partner. If the Participant has a spouse or domestic partner as of the date of this Agreement, the Participant’s spouse or domestic partner shall execute a Consent of Spouse/Domestic Partner in the form of Exhibit A hereto,
effective as of the date hereof. Such consent shall not be deemed to confer or convey to the spouse or domestic partner any rights in the Granted Shares that do not otherwise exist by operation of law or the agreement of the parties. If
the Participant subsequent to the date hereof, marries, remarries or applies to the Company for domestic partner benefits, the Participant shall, not later than 60 days thereafter, obtain his or her new spouse/domestic partner’s acknowledgement
of and consent to the existence and binding effect of all restrictions contained in this Agreement by having such spouse/domestic partner execute and deliver a Consent of Spouse/Domestic Partner in the form of Exhibit A. 

17. Counterparts. This Agreement may be executed in one or more counterparts, and by different parties hereto on
separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 18. Data Privacy. By entering into this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering
the Plan or providing Plan record keeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of Shares and the administration of
the Plan; (ii) waives any data privacy rights he or she may have with respect to such information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	ENERNOC, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Participant:
		
	By:	 	 
	
	Print Name:

  
 7 

 EXHIBIT A 
 CONSENT OF SPOUSE/DOMESTIC PARTNER 
 I,
                                        , spouse
or domestic partner of
                                        ,
acknowledge that I have read the RESTRICTED STOCK AGREEMENT dated as of                      (the “Agreement”) to which this Consent is
attached as Exhibit A and that I know its contents. Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Agreement. I am aware that by its provisions the Granted Shares granted to my
spouse/domestic partner pursuant to the Agreement are subject to a Lapsing Forfeiture Right in favor of EnerNOC, Inc. (the “Company”) and that, accordingly, I may be required to forfeit to the Company any or all of the Granted
Shares of which I may become possessed as a result of a gift from my spouse/domestic partner or a court decree and/or any property settlement in any domestic litigation. 
 I hereby agree that my interest, if any, in the Granted Shares subject to the Agreement shall be irrevocably bound by the Agreement and further understand and agree that any community property interest I
may have in the Granted Shares shall be similarly bound by the Agreement. 
 I agree to the Lapsing Forfeiture Right described
in the Agreement and I hereby consent to the forfeiture of the Granted Shares to the Company by my spouse/domestic partner or my spouse/domestic partner’s legal representative in accordance with the provisions of the Agreement. Further, as
part of the consideration for the Agreement, I agree that at my death, if I have not disposed of any interest of mine in the Granted Shares by an outright bequest of the Granted Shares to my spouse or domestic partner, then the Company shall
have the same rights against my legal representative to exercise its rights to the Granted Shares with respect to any interest of mine in the Granted Shares as it would have had pursuant to the Agreement if I had acquired the Granted Shares pursuant
to a court decree in domestic litigation. 
 I AM AWARE THAT THE LEGAL, FINANCIAL AND RELATED MATTERS CONTAINED IN THE
AGREEMENT ARE COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE AGREEMENT CAREFULLY THAT I WILL WAIVE
SUCH RIGHT. 
 Dated as of the              day of
             , 20    . 
  

	
	  
	Print name:

  
 A-1

 EXHIBIT B 
 Election to Include Gross Income in Year 
 of Transfer Pursuant to
Section 83(b) 
 of the Internal Revenue Code of 1986, as amended 

In accordance with Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the undersigned
hereby elects to include in his gross income as compensation for services the excess, if any, of the fair market value of the property (described below) at the time of transfer over the amount paid for such property. 

The following sets for the information required in accordance with the Code and the regulations promulgated hereunder: 

 

	1.	The name, address and social security number of the undersigned are: 

 Name: 
 Address: 

Social Security No.: 
  

	2.	The description of the property with respect to which the election is being made is as follows: 

(    ) shares (the “Shares”) of Common Stock, $.001 par value per share, of
EnerNOC, Inc., a Delaware corporation (the “Company”). 
  

	3.	This election is made for the calendar year , with respect to the transfer of the property to the Taxpayer on
                        . 

  

	4.	Description of restrictions: The property is subject to the following restrictions: 

In the event taxpayer’s employment with the Company or an Affiliate is terminated, the taxpayer shall forfeit the Shares as set forth
below: 
  

	 	A.	If the termination takes place on or prior to                    
all of the Shares will be forfeited. 

  

	 	B.	If the termination takes place after             , 200    , the number of Shares
forfeited shall be                             (    ) Shares less
                        (    ) Shares for each full twelve (12) month period elapsed after
                    , 200     if the taxpayer is employed by the Company or an Affiliate. 

 

	5.	The fair market value at time of transfer (determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property
with respect to which this election is being made was not more than $         per Share. 

  

	6.	The amount paid by taxpayer for said property was $         per Share. 

 

	7.	A copy of this statement has been furnished to the Company. 

 Signed this         day of         , 200  . 

 

	
	  
	Print Name:

  
 B-1

 RESTRICTED STOCK UNIT AGREEMENT 

ENERNOC, INC. 
 This Restricted Stock Unit Agreement is made as of the              day of
            , 20     (the “Grant Date”), by and between EnerNOC, Inc., a Delaware corporation having its principal place of business at 101 Federal
Street, Suite 1100, Boston, Massachusetts 02110 (the “Company”), and                         (the
“Participant”). 
 WHEREAS, the Company has adopted the Amended and Restated 2007 Employee, Director and Consultant
Stock Plan (the “Plan”) to promote the interests of the Company by providing an incentive for employees, directors and consultants of the Company or its Affiliates; 
 WHEREAS, pursuant to the provisions of the Plan, the Company desires to grant to the Participant restricted stock units (“RSUs”) related to the Company’s common stock, $.001 par value per
share (“Common Stock”), in accordance with the provisions of the Plan, all on the terms and conditions hereinafter set forth; 
 WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the meanings ascribed to such terms in the Plan. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Grant of
Award. The Company hereby grants to the Participant an aggregate of RSUs (the “Award”) which represents a contingent entitlement of the Participant to receive shares of Common Stock, on the terms and conditions and subject to all
the limitations set forth herein and in the Plan, which is incorporated herein by reference. The Participant acknowledges receipt of a copy of the Plan. 
 2. Vesting of Award. 
 Subject to the terms and conditions set forth
in this Agreement and the Plan, the Award granted hereby shall vest as follows provided that the Participant remains continuously employed by the Company or an Affiliate through the applicable vesting date: 

 

			
	 Number of RSUs
	  	 Vesting Date

	 25% of the RSUs
	  	On the first anniversary of the Grant Date
		
	 An additional         % of the RSUs rounded down to the nearest whole
share
	  	On the first day of each             following the first anniversary of the Grant Date of this Agreement
for

 [Accelerated vesting on Change of Control to be determined on a grant-by-grant
basis.] [Notwithstanding the foregoing, in the event of a Change of Control (as defined below),     % of the RSUs which would have vested in each vesting installment remaining under this Award will be vested for purposes
of Section 24(b) of the Plan unless this Award has otherwise expired or been terminated pursuant to its terms or the terms of the Plan. 

 Change of Control means the occurrence of any of the following
events: 
  

	 	(i)	Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the
“Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities
(excluding for this purpose the Company or its Affiliates or any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board of Directors does not approve; or 

 

	 	(ii)	Merger/Sale of Assets. A merger or consolidation of the Company whether or not approved by the Board of Directors, other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the parent of such corporation) at
least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

  

	 	(iii)	Change in Board Composition. A change in the composition of the Board of Directors, as a result of which fewer than a majority of the directors are Incumbent
Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of [insert grant date], or (B) are elected, or nominated for election, to the Board of Directors with the
affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to
the election of directors to the Company).] 

 On the vesting date set forth above, the Participant shall be
entitled to receive such number of shares of Common Stock equivalent to the number of RSUs set forth opposite such vesting date provided that the Participant is employed by the Company or an Affiliate on such vesting date. Such shares of Common
Stock shall thereafter be delivered by the Company to the Participant in accordance with this Agreement and the Plan and as required to comply with Section 409A of the Code. Notwithstanding the foregoing, if the Participant is as of the
vesting date a “specified employee” (as defined under Section 409A of the Code) then such payment of shares of Common Stock, if required by Section 409A of the Code, will be made six months after the date of such Separation from
Service (as defined in Section 409A of the Code). 
 Except as otherwise set forth in this Agreement, if the Participant
ceases to be employed for any reason by the Company or an Affiliate prior to a vesting date, then as of the date on which the Participant’s employment terminates, all unvested RSUs subject to this Award shall immediately be forfeited to the
Company and this Agreement shall terminate and be of no further force or effect. 

  
 2 

 3. Prohibitions on Transfer and Sale. 

This Award (including any additional RSUs received by the Participant as a result of stock dividends, stock splits or any other similar
transaction affecting the Company’s securities without receipt of consideration) shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution or pursuant to a qualified domestic relations order
as defined by the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder. Except as provided in the previous sentence, the shares of Common Stock to be issued pursuant to this Agreement shall be issued,
during the Participant’s lifetime, only to the Participant (or, in the event of legal incapacity or incompetence, to the Participant’s guardian or representative). This Award shall not be assigned, pledged or hypothecated in any way
(whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of this Award or of any rights granted hereunder
contrary to the provisions of this Section 3, or the levy of any attachment or similar process upon this Award shall be null and void. 
 4. Adjustments. The Plan contains provisions covering the treatment of RSUs and shares of Common Stock in a number of contingencies such as stock splits and mergers. Provisions in
the Plan for adjustment with respect to this Award and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference. 

5. Securities Law Compliance. The Participant specifically acknowledges and agrees that any sales of shares of Common
Stock issued hereunder shall be sold in accordance with the requirements of the Securities Act of 1933, as amended. 

6. Rights as a Stockholder. The Participant shall have no right as a stockholder, including voting and dividend rights,
with respect to the RSUs subject to this Agreement. 
 7. Tax Liability of the Participant and Payment of Taxes.

 The Participant acknowledges and agrees that any income or other taxes due from the Participant with respect to this Award or
the shares of Common Stock to be issued pursuant to this Agreement or otherwise sold shall be the Participant’s responsibility. Without limiting the foregoing, the Participant agrees that the Participant will owe taxes at each vesting date
on the portion of the Award then vested and the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company. In connection with the foregoing, the Participant agrees that
if an arrangement to pay the withholding obligation in cash has not been received by the Company prior to a vesting date, the Company shall authorize a registered broker (the “Broker”) to sell on such vesting date such number of shares of
Common Stock otherwise deliverable to the Participant on vesting of the Award as the Company instructs the Broker to sell to satisfy the Company’s withholding obligation, after deduction of the Broker’s commission, and the Broker shall
remit to the Company the cash necessary in order for the Company to satisfy its withholding obligation. In connection with such sale of shares of Common Stock, the Participant shall execute any such documents requested by Broker in order to
effectuate the sale of the shares of Common Stock and payment of the withholding obligation to the Company. The Company shall not deliver any shares of Common Stock to the Participant until all withholdings have been made. 

8. Participant Acknowledgements and Authorizations. 
 The Participant acknowledges the following: 
 (a) The Company is not by the
Plan or this Award obligated to continue the Participant as an employee, director or consultant of the Company or an Affiliate. 

(b) The Plan is discretionary in nature and may be suspended or terminated by the Company at any time. 

  
 3 

 (c) The grant of this Award is considered a one-time benefit and does not create a
contractual or other right to receive any other award under the Plan, benefits in lieu of awards or any other benefits in the future. 
 (d) The Plan is a voluntary program of the Company and future awards, if any, will be at the sole discretion of the Company, including, but not limited to, the timing of any grant, the amount of any
award, vesting provisions and purchase price, if any. 
 (e) The value of this Award is an extraordinary item of
compensation outside of the scope of any employment. As such the Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards,
pension or retirement benefits or similar payments. The future value of the shares of Common Stock is unknown and cannot be predicted with certainty. 
 (f) The Participant authorizes his or her employer to furnish the Company (and any agent administering the Plan or providing recordkeeping services) with such information and data as it shall request
in order to facilitate the grant of the Award and the administration of the Plan, and the Participant waives any data privacy rights he or she may have with respect to such information or the sharing of such information. 

9. Notices. Any notices required or permitted by the terms of this Agreement or the Plan shall be given by recognized
courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 
 If to the Company
at the principal business office listed on the first page of this Agreement. 
 If to the Participant at the address set
forth in the Company’s employment directory, or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be deemed to have been given on the earliest of receipt, one business
day following delivery by the sender to a recognized courier service, or three business days following mailing by registered or certified mail. 
 10. Benefit of Agreement. Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties hereto. 
 11. Governing Law. This Agreement shall be
construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, whether at law or
in equity, the parties hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the
District of Massachusetts. 
 12. Severability. If any provision of this Agreement is held to be invalid or
unenforceable by a court of competent jurisdiction, then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent that this is impossible, then such provision shall be
deemed to be excised from this Agreement, and the validity, legality and enforceability of the rest of this Agreement shall not be affected thereby. 
 13. Entire Agreement. This Agreement, together with the Plan, constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and
supersedes all prior oral or written agreements and understandings relating to the subject matter hereof.

  
 4 

 No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement
shall affect or be used to interpret, change or restrict the express terms and provisions of this Agreement provided, however, in any event, this Agreement shall be subject to and governed by the Plan. 

14. Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be modified or
amended as provided in the Plan. Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits
of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall
be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 
 15. Counterparts. This Agreement may be executed in one or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. 
 [THE NEXT PAGE IS THE SIGNATURE PAGE] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Unit Agreement as
of the day and year first above written. 
  

			
	ENERNOC, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	Participant:
	
	 
	Print Name:

  
 6 

 ENERNOC, INC. 

EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 
 HMRC APPROVED SUB PLAN FOR UK EMPLOYEES 
 (“THE UK SUB-PLAN”)

 Adopted by the Board of Directors on: 2 June 2010 

Approved by HMRC on: 16 September 2010 
 HMRC reference no: X 105704 
  
 

 
 Alder Castle 
 10 Noble Street 
 London EC2V 7QJ 

Tel: +44 (0)20 7645 2400 
 Fax: +44 (0)20 7645 2424 

 ENERNOC, INC. 

2007 EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 
 HMRC APPROVED SUB-PLAN FOR UK EMPLOYEES 
 (“‘THE UK
SUB-PLAN”) 
  

	1.	GENERAL 

 This supplement
to the EnerNOC, Inc. Amended and Restated 2007 Employee, Director and Consultant Stock Plan (“the Plan”) sets out the HMRC Sub-Plan for UK Employees (“the UK Sub-Plan”). 

 

	2.	ESTABLISHMENT OF UK SUB-PLAN 

 EnerNOC Inc. (“the Company”) has established the UK Sub-Plan under Paragraph 4(g) of the Plan, which authorises the Administrator to establish sub-plans to the Plan. 

 

	3.	PURPOSE OF UK SUB-PLAN 

The purpose of the UK Sub-Plan is to enable the grant to, and subsequent exercise by, employees and directors in the United Kingdom, on a
tax favoured basis, of options to acquire shares in the Company under the Plan. 
  

	4.	HMRC APPROVAL OF UK SUB-PLAN 

 The UK Sub-Plan is intended to be approved by HMRC under Schedule 4 to ITEPA 2003. 
  

	5.	RULES OF UK SUB-PLAN 

 The
rules of the Plan, in their present form and as amended from time to time, shall, with the modifications set out in this supplement, form the rules of the UK Sub-Plan. In the event of any conflict between the rules of the Plan
and this supplement, the supplement shall prevail. 
  

	6.	RELATIONSHIP OF UK SUB-PLAN TO PLAN 

 The UK Sub-Plan shall form part of the Plan and not a separate and independent plan. 
  

	7.	INTERPRETATION 

 In the UK
Sub-Plan, unless the context otherwise requires, the following words and expressions have the following meanings: 
  

			
	Acquiring Company	  	a company which obtains Control of the Company in the circumstances referred to in rule 26;
		
	Approval Date	  	the date on which the UK Sub-Plan is approved by HMRC under Schedule 4;

  
 1 

			
	Associate	  	the meaning given to that expression by paragraph 12 of Schedule 4;
		
	Associated Company	  	the meaning given to that expression by paragraph 35 of Schedule 4;
		
	Constituent Company	  	any of the following:
		
		  	 (a)     the Company; and

		
		  	 (b)     any Eligible Company nominated by the Administrator to be a Constituent Company at the
relevant time.

		
	Control	  	the meaning given to that word by Section 719 of ITEPA 2003 and “Controlled” shall be construed accordingly;
		
	Date of Grant	  	the date on which the Administrator determines to grant an Option to an Eligible Employee;
		
	Eligible Company	  	any company of which the Company has Control, including any jointly owned company (as defined in paragraph 34 of Schedule 4):
		
		  	 (a)     which is treated as being under the Company’s Control under paragraph 34 of Schedule 4;
and

		
		  	 (b)     which is not excluded from being a Constituent Company under paragraph 34(4) of Schedule
4;

		
	Eligible Employee	  	any Employee who:
		
		  	 (a)     does not have a Material Interest (either on his own or together with one or more of his
Associates), and has not had such an interest in the last 12 months; and

		
		  	 (b)     has no Associate or Associates which has or (taken together) have a Material Interest, or had
such an interest in the last 12 months; and

		
		  	 (c)     is either:

		
		  	 (i)      not a director of any Constituent Company; or

		
		  	 (ii)     a director of a Constituent Company who is required to devote at least 25 hours per week
(excluding meal breaks) to his duties;

  
 2 

			
	Employee	  	an employee of a Constituent Company;
		
	HMRC	  	Her Majesty’s Revenue and Customs;
		
	ICTA 1988	  	The Income and Corporation Taxes Act 1988;
		
	ITEPA 2003	  	The Income Tax (Earnings and Pensions) Act 2003;
		
	Key Feature	  	any provision of the UK Sub-Plan which is necessary to meet the requirements of Schedule 4;
		
	Market Value	  	 (a)    in the case of an Option granted under the UK Sub-Plan:

		
		  	 (i)      if at the relevant time the Shares are listed on the London or New York Stock Exchange
the mean between the highest and lowest reported sale prices of a Share on the London or New York Stock Exchange, as reported in the Financial Times or Wall Street Journal respectively, for the Date of Grant;

		
		  	 (ii)     if paragraph (i) does not apply, the market value of a Share as determined in
accordance with Part V111 of the Taxation of Chargeable Gains Act 1992 and agreed in advance with HMRC Shares and Assets Valuation on the Date of Grant of the Option or such earlier date or dates as may be agreed in advance with the Shares and
Assets Valuation of HMRC;

		
		  	 (b)     in the case of an option granted under any other share option scheme, the market value of an
ordinary share in the capital of the Company determined under the rules of such scheme for the purpose of the grant of the option;

		
	Material Interest	  	the meaning given to that expression by paragraph 9 of Schedule 4;
		
	New Option	  	an option granted by way of exchange under rule 26.1;
		
	New Shares	  	the shares subject to a New Option referred to in rule 26. l;
		
	Option	  	a subsisting right to acquire Shares granted under the UK Sub-Plan;
		
	Optionee	  	an individual who holds an Option or, where the context permits, his legal personal representatives;

  
 3 

			
	Option Agreement	  	a written agreement between the Company and Optionee evidencing the terms of an individual Option grant, subject to the terms and conditions of the UK Sub-Plan;
		
	Ordinary Share Capital	  	the meaning given to that expression by paragraph 16 of Schedule 4;
		
	Schedule 4	  	Schedule 4 to ITEPA 2003;
		
	Share	  	Common Stock of the Company, par value $.001 per share;
		
	Taxable Event	  	the exercise of an Option which may give rise to liabilities for income tax and national insurance contributions (or their equivalents in any other
jurisdiction);
		
	Tax Liability	  	the pounds sterling total of:
		
		  	 (a)     any PAYE income tax and primary class 1 (employee) national insurance contributions (or any
similar liability to withhold amounts in respect of income tax or social security contribution in any jurisdiction) that the Company or any employer (or former employer) of an Optionee is liable to account for as a result of any Taxable Event;
and

		
		  	 (b)    if:

		
		  	 (i)     such amounts may be lawfully recovered from the relevant Optionee; and

		
		  	 (ii)     the relevant Option includes the requirement specified in
rule 22.3,

		
		  	 any secondary class 1 (employer) national insurance contributions (or any similar liability for social security contribution in any jurisdiction)
that the Company or any employer (or former employer) of an Optionee is liable to pay as a result of any Taxable Event.

 In this supplement, unless the context otherwise requires: 

 

	 	(a)	words and expressions not defined above have the same meanings as are given to them in the Plan; 

  
 4 

	 	(b)	the rule headings are inserted for ease of reference only and do not affect their interpretation; 

 

	 	(c)	a reference to a rule is a reference to a rule in this supplement; 

 

	 	(d)	the singular includes the plural and vice-versa and the masculine includes the feminine; and 

 

	 	(e)	a reference to a statutory provision is a reference to a United Kingdom statutory provision and includes any statutory modification, amendment or re-enactment thereof.

  

	8.	COMPANIES PARTICIPATING IN UK SUB-PLAN 

 The companies participating in the UK Sub-Plan shall be each a Constituent Company. 
  

	9.	SHARES USED IN UK SUB-PLAN 

The Shares shall form part of the Ordinary Share Capital of the Company which satisfy the conditions specified in paragraphs 16-20
inclusive of Schedule 4. 
  

	10.	GRANT OF OPTIONS 

 An
option granted under the UK Sub-Plan shall be granted under and subject to the rules of the Plan as modified by this supplement. 
  

	11.	IDENTIFICATION OF OPTIONS 

An Option Agreement issued in respect of an Option shall expressly state that it is issued in respect of an Option. An option which is not
so identified shall not constitute an Option. 
  

	12.	CONTENTS OF OPTION AGREEMENT 

 An Option Agreement issued in respect of an Option shall state: 
  

	 	(a)	that it is issued in respect of an Option; 

  

	 	(b)	the date of grant of the Option; 

  

	 	(c)	the number of Shares subject to the Option; 

  

	 	(d)	the exercise price under the Option; 

  

	 	(e)	any performance target or other condition imposed on the exercise of the Option; 

 

	 	(f)	the date(s) on which the Option will ordinarily become exercisable; and 

 

	 	(g)	the period during which an Option shall remain exercisable following termination of employment. 

  
 5 

	13.	EARLIEST DATE FOR GRANT OF OPTIONS 

 An Option may not be granted earlier than the Approval Date. 
  

	14.	PERSONS TO WHOM OPTIONS MAY BE GRANTED 

 An Option may not be granted to an individual who is not an Eligible Employee at the Date of Grant. 
 For the avoidance of doubt and notwithstanding Paragraph 5 of the Plan, an Option may not be granted under the UK Sub-Plan to a consultant or advisor. 

If an Eligible Employee’s status changes to that of consultant or advisor, this shall be regarded as a termination of employment for
the purposes of the UK Sub-Plan. 
  

	15.	OPTIONS NON TRANSFERABLE 

An Option shall be personal to the Eligible Employee to whom it is granted and, subject to rule 25, shall not be capable of being
transferred, charged or otherwise alienated and shall lapse immediately if the Optionee purports to transfer, charge or otherwise alienate the Option. 
 Paragraph 12 of the Plan shall be construed accordingly. 
  

	16.	LIMIT ON NUMBER OF SHARES PLACED UNDER OPTION UNDER UK SUB-PLAN 

 For the avoidance of doubt, Shares placed under Option under the UK Sub-Plan shall be taken into account for the purpose of Paragraph 3(a) of the Plan. 

 

	17.	HMRC LIMIT (£30,000) 

  

	17.1	Notwithstanding Paragraph 6a. of the Plan, an Option may not be granted to an Eligible Employee if the result of granting the Option would be that the aggregate Market
Value of the shares subject to all outstanding options granted to him under the UK Sub-Plan or any other share option scheme established by the Company or an Associated Company and approved by the HMRC under Schedule 4 would exceed sterling
£30,000 or such other limit as may from time to time be specified in paragraph 6 of Schedule 4. For this purpose, the United Kingdom sterling equivalent of the market value of a share on any day shall be determined by taking the spot
sterling/dollar exchange rate for that day as shown in the Financial Times. 

  

	17.2	If the grant of an Option would otherwise cause the limit in rule 17.1 to be exceeded, it shall take effect as the grant of an Option under the UK Sub-Plan over
the highest number of Shares which does not cause the limit to be exceeded. 

  
 6 

	18.	EXERCISE PRICE UNDER OPTIONS 

 Notwithstanding Paragraph 6(a)(i) of the Plan, the amount payable per Share on the exercise of an Option shall not be less than the Market Value of a Share on the Date of Grant and shall be stated on
the Date of Grant. 
  

	19.	PERFORMANCE TARGET OR OTHER CONDITION IMPOSED ON EXERCISE OF OPTION 

 

	19.1	Any performance target or other condition imposed on the exercise of an Option under Paragraph 4d. of the Plan shall be: 

 

	 	(a)	objective; 

  

	 	(b)	such that, once satisfied, the exercise of the Option is not subject to the discretion of any person; and 

 

	 	(c)	stated on the Date of Grant. 

  

	19.2	If an event occurs as a result of which the Administrator considers that a performance target or other condition imposed on the exercise of an Option is no longer
appropriate and amends or modifies under Paragraph 4e. of the Plan the performance target or condition, such amendment or modification shall: 

  

	 	(a)	be fair and reasonable in the circumstances; and 

  

	 	(b)	produce a measure of performance that is no more difficult to satisfy than the original. 

 

	20.	EXERCISE OF OPTIONS BY LEAVERS 

 The period during which an Option shall remain exercisable following termination of employment, shall be stated at grant in the Option Agreement, which period may not thereafter be altered. 

 

	21.	LATEST DATE FOR EXERCISE OF OPTIONS 

 The period during which an Option shall remain exercisable shall be stated in the Option Agreement and any Option not exercised by that time shall lapse immediately. 

 

	22.	TAX LIABILITIES 

  

	22.1	The definitions in this rule 22.1 apply in this rule 22. 

 Employer NICs: Secondary class 1 (employer) national insurance contributions (or any similar liability for social security contribution in any jurisdiction) which are included in any Tax Liability
(or which would be included in any Tax Liability if an election of the type referred to in rule 22.3(b) had not been made) and which may be lawfully recovered from the Optionee. 

Sufficient Shares: the smallest number of Shares which, when sold following the exercise of an Option, will produce an amount in
pounds sterling at least equal to the relevant Tax Liability (after deduction of brokerage and any other charges or taxes on the sale). 

  
 7 

	22.2	Each Option shall include a requirement that the Optionee irrevocably agrees to: 

 

	 	(a)	pay to the Company, his employer or former employer (as appropriate) the amount of any Tax Liability; or 

 

	 	(b)	enter into arrangements to the satisfaction of the Company, his employer or former employer (as appropriate) for payment of any Tax Liability. 

 

	22.3	Unless the Constituent Company which employs the relevant Eligible Employee directs that it shall not, each Option shall include a requirement that the Optionee agrees
that: 

  

	 	(a)	the Company, his employer or former employer (as appropriate) may recover the whole or any part of any Employer NICs from the Optionee; or 

 

	 	(b)	at the request of the Company, his employer or former employer, the Optionee shall elect (using a form approved by HMRC) that the whole or any part of the liability for
Employer NICs shall be transferred to the Optionee. 

 An Optionee’s employer or former employer may decide to
release the Optionee from, or not to enforce, any part of the Optionee’s obligations in respect of Employer NICs under rule 22.2 and rule 22.3. 
  

	22.4	If an Optionee does not fulfil his obligations under rule 22.2(a) or rule 22.2(b) in respect of any Tax Liability arising from the exercise of an
Option within seven days after the date of exercise and Shares are readily saleable at that time, the Company shall withhold Sufficient Shares from the Shares which would otherwise be delivered to the Optionee. From the net proceeds of sale of those
withheld Shares, the Company shall pay to the employer or former employer an amount equal to the Tax Liability and shall pay any balance to the Optionee. 

  

	23.	MANNER OF PAYMENT FOR SHARES ON EXERCISE OF OPTIONS 

 The amount due on the exercise of an Option shall be paid in cash or by cheque or banker’s draft and may be paid out of funds provided to the Optionee on loan by a bank, broker or other person.
Notwithstanding the wording in Paragraph 9(b)-(f) of the Plan, the amount may not be paid by the transfer to the Company of Shares or any other shares or securities. 
 The amount due on the exercise of the Option, including the option price and any withholding taxes due may be satisfied by a broker assisted cashless exercise procedure provided that this has been agreed
with HMRC. 
  

	24.	ISSUE OR TRANSFER OF SHARES ON EXERCISE OF OPTIONS 

 Subject only to compliance by the Optionee with the rules of the UK Sub-Plan and to any delay necessary to complete or obtain: 

 

	 	(a)	the listing of the Shares on any stock exchange on which Shares are then listed; 

  
 8 

	 	(b)	such registration or other qualification of the Shares under any applicable law, rule or regulation as the Company determines is necessary or desirable;

 the Company shall, as soon as reasonably practicable and in any event not later than thirty days after the date
of exercise of an Option, issue or transfer to the Optionee, or procure the issue or transfer to the Optionee of, the number of Shares specified in the notice of exercise and shall deliver to the Optionee, or procure the delivery to the Optionee of,
a stock certificate in respect of such Shares together with, in the case of the partial exercise of an Option, an Option Agreement in respect of, or the original Option Agreement endorsed to show, the unexercised part of the Option, SAVE THAT
the exercise of an Option will only be permitted if at the date of exercise the Optionee is compliant with paragraphs (a) and (b) of definition of Eligible Employee. 
 The second section of Paragraph 9 of the Plan shall be construed accordingly. 
  

	25.	DEATH OF OPTIONEE 

 If an
Optionee dies, his personal representatives shall be entitled to exercise his Options for the period specified in the Option Agreement, which shall in no event be later than the twelve month period following his death. If not so exercised, the
Options shall lapse immediately. 
  

	26.	CHANGE IN CONTROL OF COMPANY 

  

	26.1	Exchange of Options 

 If a
company (“Acquiring Company”) obtains Control of the Company: 
  

	 	(a)	as a result of making a general offer to acquire the whole of the issued ordinary share capital of the Company which is made on a condition such that if it is satisfied
the person making the offer will have Control of the Company; or 

  

	 	(b)	as a result of making a general offer to acquire all the shares in the Company of the same class as the Shares; or 

 

	 	(c)	in circumstances covered by US legislation which HMRC accepts are closely comparable in purpose and effect to the provisions of Section 899 or Sections 979 to 982
of the UK Companies Act 2006. 

 an Optionee may, at any time during the period set out in rule 26.2, by
agreement with the Acquiring Company, release his Option in whole or in part in consideration of the grant to him of a new option (“New Option”) which is equivalent to the Option but which relates to shares (“New Shares”) in:

  

	 	(d)	the Acquiring Company; 

  

	 	(e)	a company which has Control of the Acquiring Company; or 

  
 9 

	 	(f)	a company which either is, or has Control of, a company which is a member of a Consortium which owns either the Acquiring Company or a company having Control of the
Acquiring Company. 

  

	26.2	Period allowed for exchange of Options 

 The period referred to in rule 26.1 is the period of six months beginning with the time when the person making the offer has obtained Control of the Company and any condition subject to which the
offer is made has been satisfied. 
  

	26.3	Meaning of “equivalent” 

The New Option shall not be regarded for the purpose of this rule 26 as equivalent to the Option unless: 

 

	 	(a)	the New Shares satisfy the conditions specified in paragraphs 15 to 20 inclusive of Schedule 4; and 

 

	 	(b)	save for any performance target or other condition imposed on the exercise of the Option, the New Option will be exercisable in the same manner as the Option and
subject to the provisions of the UK Sub-Plan as it had effect immediately before the release of the Option; and 

  

	 	(c)	the total market value, immediately before the release of the Option, of the Shares which were subject to the Option is equal to the total market value, immediately
after the grant of the New Option, of the New Shares (market value being determined for this purpose in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992); and 

 

	 	(d)	the total amount payable by the Optionee for the acquisition of the New Shares under the New Option is equal to the total amount that would have been payable by the
Optionee for the acquisition of the Shares under the Option. 

  

	26.4	Date of grant of New Option 

 The
date of grant of the New Option shall be deemed to be the same as the Date of Grant of the Option. 
  

	26.5	Application of UK Sub-Plan to New Option 

 In the application of the UK Sub-Plan to the New Option, where appropriate, references to “Company” and “Shares” shall be read as if they were references to the company to whose shares
the New Option relates and the New Shares, respectively, save that in the definition of “Administrator” the reference to “Company” shall be read as if it were reference to EnerNOC, Inc. 

 

	26.6	Interaction with Paragraph 24b. of the Plan 

  

	 	(a)	Reference in Paragraph 24b.(i) of the Plan substituting Options, shall be disapplied for the purposes of the UK Sub-Plan. 

  
 10 

	 	(b)	In the event that a change of control does not fall within the definition of rule 26.1 above, or where it does, but an Acquiring Company does not agree to grant a
New Option, or if a New Option would not be regarded as ‘equivalent’ in accordance with rule 26.3 above, the Administrator shall give written notice to the Optionees and any outstanding Option shall be exercisable in accordance with
Paragraph 24b.(ii) of the Plan. 

  

	 	(c)	Reference in Paragraph 24b.(iii) of the Plan to the receipt of a cash payment, shall be disapplied for the purposes of the UK Sub-Plan. 

 

	27.	RIGHTS ATTACHING TO SHARES ISSUED ON EXERCISE OF OPTIONS 

 All Shares issued on the exercise of an Option shall, as to any voting, dividend, transfer and other rights, including those arising on a liquidation of the Company, rank equally in all respects and as
one class with the Shares in issue at the date of such exercise save as regards any rights attaching to such Shares by reference to a record date prior to the date of such exercise. 

 

	28.	AMENDMENT OF UK SUB-PLAN 

Notwithstanding Paragraphs 9 and 31 of the Plan, no amendment to a Key Feature of the UK Sub-Plan shall take effect until it has been
approved by the HMRC. 
  

	29.	ADJUSTMENT OF OPTIONS 

Notwithstanding Paragraph 24a. of the Plan, no adjustment may be made to an Option (i) without HMRC’s prior approval and
(ii) in the event of a stock dividend or distribution. 
  

	30.	EXERCISE OF DISCRETION BY THE ADMINISTRATOR 

 In exercising any discretion which it may have under the UK Sub-Plan, the Administrator shall act fairly and reasonably. 
  

	31.	DISAPPLICATION OF CERTAIN PROVISIONS OF PLAN 

 The provisions of the Plan dealing with: 
  

	 	(a)	ISOs (defined in Paragraph 1); 

  

	 	(b)	Stock Grants (Paragraphs 7, 10 and 17 - 21); 

  

	 	(c)	Other Stock Based Awards (Paragraphs 8 and 10); 

  

	 	(d)	Option Conditions (Paragraph 6a.iv); 

  

	 	(e)	paying the purchase price through the retention of Shares by the Company (sub-paragraph (c) of Paragraph 9); 

 

	 	(f)	Purchase for Investment (Paragraph 22); 

  

	 	(g)	Fractional Shares (Paragraph 26); 

  
 11 

	 	(h)	Paragraph 4f. of the Plan; 

  

	 	(i)	action by the Administrator or the Successor Board in the second section of Paragraph 24b. in relation to the substitution or cash cancellation of options;

  

	 	(j)	transferring an Option (Paragraph 12); 

  

	 	(k)	amending or modifying an Option (Paragraph 4e and the fourth section of Paragraph 9); 

 

	 	(l)	vesting acceleration (third section of Paragraph 9); and 

  

	 	(m)	the leaver provisions (Paragraphs 13-16), 

 shall not form part of, and shall be disregarded for the purposes of the UK Sub-Plan. 

  
 12 

 STOCK OPTION AGREEMENT 

Stock Option Granted under HMRC Approved Sub-Plan for UK Employees 

ENERNOC, INC. 
 AGREEMENT made as of the          day of          20    , between EnerNOC, Inc. (the
“Company”), a Delaware corporation and                      (the “Optionee”). 

WHEREAS, the Company desires to grant to the Optionee an Option to purchase shares of its common stock, $.001 par value per share (the
“Shares”), under and for the purposes set forth in the HMRC Approved Sub-Plan for UK Employees (the “UK Sub-Plan”) a sub-plan to the Company’s Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the
“Plan”); 
 WHEREAS, the Company and the Optionee understand and agree that any terms used and not defined herein have
the same meanings as in the UK Sub-Plan; and 
 WHEREAS, the Company and the Optionee each intend that the Option granted herein
shall be a Non-Qualified Option. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the parties hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The
Company hereby grants to the Optionee the right and option to purchase all or any part of an aggregate of                 Shares, on the terms and conditions and subject
to all the limitations set forth herein, under United States securities laws, Schedule 4 to the Income Tax (Earnings and Pensions) Act 2003, and in the UK Sub-Plan, which is incorporated herein by reference. The Optionee acknowledges receipt of
a copy of the Plan and UK Sub-Plan. 
  

	 	2.	PURCHASE PRICE. 

 The
purchase price of the Shares covered by the Option shall be $             per Share which is the Market Value of a Share on the Grate Date, subject to adjustment, as provided in the UK
Sub-Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares after the date hereof (the “Purchase Price”). Payment shall be made in accordance with rule 23 of the UK Sub-Plan.

	 	3.	EXERCISABILITY OF OPTION. 

Subject to the terms and conditions set forth in this Agreement and the UK Sub-Plan, the Option granted hereby shall become exercisable as
follows: 
  

			
	On the first anniversary of the Vest date of this Agreement (    , 20):	  	25% of the Shares
		
	On the first day of each quarter following the first anniversary of the Vest date of this Agreement for three years:	  	An additional 6.25% of the Shares rounded down to the nearest whole share

 The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement
and the UK Sub-Plan. 
  

	 	4.	TERM OF OPTION. 

 This
Option shall terminate ten years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the UK Sub-Plan. 
 If the Optionee ceases to be an employee of the Company or of a Constituent Company (for any reason including on ceasing employment with the intention of retiring, due to injury or redundancy (within the
meaning of the Employment Rights Act 1996) but other than the death of the Optionee or termination of the Optionee for “cause”), the Option may be exercised, if it has not previously terminated, within three months after the date the
Optionee ceases to be an employee of the Company or a Constituent Company, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter. In such event, the Option shall be exercisable only to
the extent that the Option has become exercisable and is in effect at the date of such cessation of service. 
 Notwithstanding
the foregoing, in the event of the Optionee’s death within three months after the termination of service, the Optionee’s personal representatives may exercise the Option within one year after the date of the Optionee’s death, but in
no event after the date of expiration of the term of the Option. 
 In the event the Optionee’s service is terminated by
the Company or a Constituent Company for “cause”, the Optionee’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Optionee is notified his or her service is terminated for
“cause,” and this Option shall thereupon terminate. Notwithstanding anything herein to the contrary, if subsequent to the Optionee’s termination, but prior to the exercise of the Option, the Board of Directors of the Company
determines that, either prior or subsequent to the Optionee’s termination, the Optionee engaged in conduct which would constitute “cause,” then the Optionee shall immediately cease to have any right to exercise the Option and this
Option shall thereupon terminate. 

  
 2 

 In the event of the death of the Optionee while an employee of the Company or of a
Constituent Company, the Option shall be exercisable by the Optionee’s personal representatives within one year after the date of death of the Optionee or, if earlier, within the originally prescribed term of the Option. In such event, the
Option shall be exercisable: 
  

	 	(x)	to the extent that the Option has become exercisable but has not been exercised as of the date of death; and 

 

	 	(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that
would have accrued on the next vesting date had the Optionee not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Optionee’s date of death. 

 

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached
hereto. Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance
with rule 23 of the UK Sub-Plan. The Company shall deliver such Shares as soon as practicable and in any event not later than 30 days after the date of exercise of the Option after the notice shall be received, provided, however, that the
Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The
Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register in the name of the person so exercising the Option and shall be delivered as provided above to or upon the written order of the
person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than the Optionee, such notice shall be accompanied by appropriate proof of the right of such person to exercise
the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable. 
  

	 	6.	PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except
that no fractional share shall be issued pursuant to this Option. 
  

	 	7.	NON-ASSIGNABILITY. 

 The
Option shall not be transferable by the Optionee except for a transfer on death to the Optionee’s personal representative. Except as provided above in this paragraph, the Option shall be exercisable, during the Optionee’s lifetime,
only by the Optionee (or, in the event of legal incapacity or incompetency, by the Optionee’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be
subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy
of any attachment or similar process upon the Option shall be null and void. 

  
 3 

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Optionee shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the
Optionee. Except as is expressly provided in the UK Sub-Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of
such registration. 
  

	 	9.	ADJUSTMENTS. 

 The UK
Sub-Plan contains provisions covering the treatment of Options in a number of contingencies such as stock splits. Provisions in the UK Sub-Plan for adjustment with respect to stock subject to Options are hereby made applicable hereunder and are
incorporated herein by reference. 
  

	 	10.	CHANGE OF CONTROL. 

Rule 26 of the UK Sub-Plan sets out the circumstances, upon a change of control, under which Options may be substituted for new
options in the acquiring company, and retain their tax approved status. If the provisions of this Rule are not met, the Board of Directors of the Company, will give written notice to Optionees and any outstanding Option will be exercisable in
accordance with Paragraph 24b.(ii) of the Plan. 
  

	 	11.	TAXES. 

(a) Depending on the circumstances, on exercise of the Option the Optionee may have an income tax liability under PAYE and may be
required to pay national insurance contributions (NICs). If so, then: 
 (1) The Company or the company
which employs the Optionee may require the Optionee to pay amounts in respect of PAYE and NICs liability in cash; 
 (2) The Optionee may be required to: 
 (i) pay; or

 (ii) enter into a joint election to transfer; or 

(iii) enter into an arrangement or agreement for the payment of, 

some or all of his employer’s secondary class 1 NICs liability arising from exercise of the Option; and 

(3) in some circumstances the Company may withhold the number of Shares required to meet the liabilities in respect
of PAYE, primary (employee) class 1 NICs and secondary (employer) class 1 NICs. 

  
 4 

 (b) The Option may only be exercised if the Optionee: 

(1) confirms (in writing) that he agrees to the requirements of the UK Sub-Plan relating to PAYE and NICs
(Rule 22). This may be done at the time of exercise; and 
 (2) makes any arrangements, or enter
into any agreements, that may be required under Rule 22. 
  

	 	12.	NO OBLIGATION TO MAINTAIN RELATIONSHIP. 

 The Company is not by the UK Sub-Plan or this Option obligated to continue the Optionee as an employee of the Company or a Constituent Company. The Optionee acknowledges: (i) that the UK
Sub-Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options,
or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the
time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Optionee’s participation in the UK Sub-Plan is voluntary; (v) that the value of the Option is an extraordinary item of
compensation which is outside the scope of the Optionee’s employment contract, if any; and (vi) that the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of
service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 
  

	 	13.	NOTICES. 

 Any notices
required or permitted by the terms of this Agreement or the UK Sub-Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 
 EnerNOC, Inc. 
 Attn: Chief Financial Officer 

101 Federal Street, Suite 1100 

Boston, MA 02110 
 If to the Optionee: 
 _________________________________

 _________________________________ 

_________________________________ 
 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be deemed to have been given upon the earlier of receipt, one business day
following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

  
 5 

	 	14.	GOVERNING LAW. 

 This
Agreement shall be construed and enforced in accordance with the laws of the Commonwealth of Massachusetts without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this
Agreement, the parties hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the
District of Massachusetts. 
  

	 	15.	BENEFIT OF AGREEMENT. 

Subject to the provisions of the UK Sub-Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be
binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
  

	 	16.	ENTIRE AGREEMENT. 

 This
Agreement, together with the UK Sub-Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the
subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict the express terms and provisions of this Agreement,
provided, however, in any event, this Agreement shall be subject to and governed by the UK Sub-Plan. 
  

	 	17.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be modified or amended as provided in the UK Sub-Plan. 
  

	 	18.	WAIVERS AND CONSENTS. 

Except as provided in the UK Sub-Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions
of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

 

	 	19.	DATA PRIVACY. 

 By
entering into this Agreement, the Optionee: (i) authorizes the Company and each Constituent Company, and any agent of the Company or any Constituent Company administering the UK Sub-Plan or providing UK Sub-Plan recordkeeping services, to
disclose to the Company or any of its Constituent Companies such information and data as the Company or any such Constituent Company shall request in order to facilitate the grant of options and the administration of the UK Sub-Plan;
(ii) waives any data privacy rights he or she may have with respect to such information; and (iii) authorizes the Company and each Constituent Company to store and transmit such information in electronic form outside of the European
Economic Area. 

  
 6 

	 	20.	COUNTERPARTS. 

 This deed
may be executed in any number of counterparts. This has the same effect as if signatures on the counterparts were on a single copy of this deed. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 7 

 IN WITNESS WHEREOF the parties have executed this option as a deed and the Company has
caused it to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a deed and sealed instrument. 
 By executing this agreement the Optionee accepts the foregoing option award, agrees to the terms and conditions hereof and acknowledges having received and read a copy of the Company’s 2007 Employee,
Director and Consultant Stock Plan and the UK Sub-Plan and agrees to comply with the UK Sub-Plan and all applicable laws and regulations. 
  

											
		 		 	ENERNOC, INC.
					
	Dated:	 	 	 		 	By:	 	 
		 		 		 		 	        Name:	 	 
		 		 		 		 	        Title:	 	 

  

									
	EXECUTED as a DEED by	 		 	
	OPTIONEE:	 		 	By:	 	 
		 		 		 	(Signature of Optionee)
		 		 		 	Name:	 	 
		 		 		 	(Printed Name of Optionee)

  

			
	In the presence of:	 	
	Witness signature:	 	 
		
	Witness name:	 	 
		
	Witness address:	 	 
		
		 	 
		
	Witness occupation:	 	 

  
 8 

 SCHEDULE 
 Set forth below is a brief summary of certain UK tax consequences of exercise of the option and disposition of the Shares under the laws in effect as of 11 August 2010. THIS SUMMARY IS BASED ON THE
OPTIONEE BEING RESIDENT, ORDINARILY RESIDENT AND DOMICILED IN THE UK AT GRANT, IT IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD SEEK PROFESSIONAL ADVICE BEFORE EXERCISING THIS OPTION OR
DISPOSING OF THE SHARES 
 (a) Exercise of Stock Option. No UK income tax will be payable on the exercise of an
Option, provided the UK Sub-Plan remains approved by the HMRC and at least three years, and no more than ten years have elapsed from the Date of Grant. 
 (i) No UK income tax will be payable on the exercise of an Option within three years of the Date of Grant if the right to exercise arises because of the Optionee ceasing employment due to disability
or redundancy (within the meaning of the Employment Rights Act 1996) and the Option is exercised within six months of leaving. 
 (ii) If there is a liability to income tax, the Optionee will be chargeable to income tax on (broadly) the difference between the market value of the Shares acquired and the option price paid for
them. If income tax is due, it will need to be withheld by the employer under PAYE. There will also be National Insurance Contributions payable. 
 (b) Disposal of Shares. On a disposal of the Shares following exercise in an approved manner, capital gains tax will be payable on the difference between the price realised on sale and
the exercise price of the Shares subject to certain exemptions which may be available. 
 On a disposal of the Shares following
exercise where an income tax charge arose, capital gains tax will be payable on the difference between the price realised on sale and the value of the Shares at the date of exercise (subject to the annual exemption which may be available).

  
 9 

 Exhibit A 
 NOTICE OF EXERCISE OF STOCK OPTION GRANTED UNDER 
 THE HMRC APPROVED SUB-PLAN FOR UK
EMPLOYEES 
 TO:        EnerNOC, Inc. 
 DATE:                20
 IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the Securities and Exchange Commission under which the issuance
of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 
 Ladies and Gentlemen:

 1. I hereby exercise my Stock Option to
purchase                 shares (the “Shares”) of the common stock, $.001 par value, of EnerNOC, Inc. (the “Company”), at the exercise price of
$             per share, pursuant to and subject to the terms of that certain Stock Option Agreement between the undersigned and the Company dated
                , 20    . 
 2. I
understand the nature of the investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and
securities laws affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 
 3. I enclose a cheque for
$            . 
 4. In relation to my Income Tax and NICs Liability:

  

	 	•	 	 I believe there will be no Tax Liability. 

  

	 	•	 	 I irrevocably agree to pay to the Company, my employer or former employer an amount equal to my Tax Liabilities or enter into arrangements to the
satisfaction of the Company. 

  

	 	•	 	 I have included payment for my Tax Liability in the enclosed cheque. 

(Delete all but one of the bullet points above, as appropriate.) 
 5. I understand and agree that, if I do not fulfil any obligation under 4 above within seven days after the date of this exercise, the Company may retain and sell enough of the Shares to satisfy my
Tax Liabilities, together with any costs arising from that sale. I shall be entitled to any balance of the sale proceeds. 

  
 A-1

 6. I appoint the Company (acting by any of its directors from time to time) as my agent and attorney to
sell Shares and deal with the proceeds of sale as specified in 5 above in my name and on my behalf. 
 The Company may appoint
one or more persons to act as substitute agent(s) and attorney(s) for me and to exercise one or more of the powers conferred on the Company by this power of attorney, other than the power to appoint a substitute attorney. The Company
may subsequently revoke any such appointment. 
 This power of attorney shall be irrevocable, save with the consent of the
Company, and is given by way of security to secure the interest of the Company (for itself and as trustee under the Option on behalf of any employer or former employer of mine) as a person liable to account for or pay any relevant Tax Liabilities.

 I declare that a person who deals in good faith with the Company or any substitute attorney as my attorney appointed under
this deed may accept a written statement signed by that person to the effect that this power of attorney has not been revoked as conclusive evidence of that fact. 
 7. Please issue the Shares to me at the following address: 

________________________________ 
 ________________________________ 
 ________________________________ 

8. My mailing address for shareholder communications, if different from the address listed above, is: 

________________________________ 
 ________________________________ 
 ________________________________ 

  
 A-2

 This document has been executed as a deed and is delivered and takes effect on the date
stated at the beginning of it. 
  
  

									
	EXECUTED as a DEED by	 		 	
	OPTIONEE:	 		 	By:	 	 
		 		 		 	(Signature of Optionee)
		 		 		 	Name:	 	 
		 		 		 	(Printed Name of Optionee)

  

			
	In the presence of:	 	
	Witness signature:	 	 
		
	Witness name:	 	 
		
	Witness address:	 	 
		
		 	 
		
	Witness occupation:	 	 

  
 A-3

 ENERNOC, INC. 

AMENDED AND RESTATED 2007 EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 

SUB-PLAN FOR AUSTRALIAN EMPLOYEES 
 (“THE AUSTRALIAN SUB-PLAN”) 
 Adopted by the Board of Directors on
November 21, 2011 

 ENERNOC, INC. 

AMENDED AND RESTATED 2007 EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 

SUB-PLAN FOR AUSTRALIAN EMPLOYEES 
 (“THE AUSTRALIAN SUB-PLAN”) 
  

	1.	GENERAL 

 This supplement
to the EnerNOC, Inc. Amended and Restated 2007 Employee, Director and Consultant Stock Plan (“the Plan”) sets out the Sub-Plan for Australian employees. (“the Australian Sub-Plan”). 

 

	2.	ESTABLISHMENT OF AUSTRALIAN SUB-PLAN 

 EnerNOC, Inc. (“the Company”) has established the Australian Sub-Plan under Paragraph 4(i) of the Plan, which authorizes the Administrator to establish sub-plans to the Plan.

  

	3.	PURPOSE OF AUSTRALIAN SUB-PLAN 

 The purpose of the Australian Sub-Plan is to enable the Company to make Stock Grants to Australian Employees in accordance with the Plan. 

 

	4.	FUNDRAISING PROVISIONS 

The Australian Sub-Plan must be operated in a manner such that each offer of Common Stock made under the Plan in Australia is made to an
Australian Employee and, if the Fundraising Provisions would otherwise apply to the offer, is made in compliance with ASIC Class Order 03/184. 
  

	5.	RULES OF AUSTRALIAN SUB-PLAN 

 The rules of the Plan, in their present form and as amended from time to time, shall, with the modifications set out in this supplement, form the rules of the Australian Sub-Plan. In the event of any
conflict between the rules of the Plan and this supplement, the supplement shall prevail. 
  

	6.	RELATIONSHIP OF AUSTRALIAN SUB-PLAN TO PLAN 

 The Australian Sub-Plan shall form part of the Plan and not a separate and independent plan. 
  

	7.	INTERPRETATION 

 In the
Australian Sub-Plan, unless the context otherwise requires, the following words and expressions have the following meanings: 
  

			
		
	5% Condition	  	the condition in Paragraph 12 of this Australian Sub-Plan;
		
	ASIC	  	the Australian Securities and Investments Commission;
		
	 associated body corporate
	  	the meaning given to that term in ASIC Class Order 03/184;
		
	Australian Employee	  	a person who is at the time of an offer under this Australian Sub-Plan a full or part time employee or director of the Company or an associated body corporate of the Company and
located in Australia. For the avoidance of doubt, a casual employee cannot be Australian employee;
		
	 Australian Restricted Stock Agreement
	  	the agreement so named attached to this Australian Sub-Plan;
		
	Corporations Act	  	the Corporations Act 2001 (Cth);
		
	Eligible Offer Condition	  	the condition in Paragraph 13 of this Australian Sub-Plan;
		
	Fundraising Provisions	  	Part 6D.2, Part 6D.3 (except section 736) and Part 7.9 of the Corporations Act;

  
 - 2 -

			
		
	 Local Entity Condition
	  	the condition in Paragraph 11 of this Australian Sub-Plan;
		
	Offer Document	  	a document prepared to comply with the Offer Document Condition which includes the matters specified in Paragraphs (a), (b) and (c) of Paragraph 10 of this Australian
Sub-Plan;
		
	 Offer Document Condition
	  	the condition in Paragraph 10 of this Australian Sub-Plan; and
		
	 Product Disclosure Statement
	  	the meaning in section 761A of the Corporations Act.

 In this supplement, unless the context otherwise requires: 

 

	 	(a)	words and expressions not defined above have the same meanings as are given to them in the Plan; 

 

	 	(b)	the rule headings are inserted for ease of reference only and do not affect their interpretation; 

 

	 	(c)	a reference to a rule is a reference to a rule in this supplement; 

 

	 	(d)	the singular includes the plural and vice-versa and the masculine includes the feminine; and 

 

	 	(e)	a reference to a statutory provision or other law is a reference to an Australian statutory provision or law and includes any modification, amendment or re-enactment
thereof. 

  

	8.	NO ISSUE OF COMMON STOCK IN CONTRAVENTION WITH AUSTRALIAN LAW 

 The Company must not, and is not obliged to, offer shares of Common Stock under the Plan in contravention of the Corporations Act or any other law. 

 

	9.	ASIC CLASS ORDER 03/184 – OFFERS TO EMPLOYEES ONLY 

 Offers of shares of Common Stock proposed to be made by the Company in Australia must only be made to Australian Employees and, if the Fundraising Provisions would otherwise apply to the offer, in a
manner that enables the Company to obtain the benefit of the relief from the Fundraising Provisions available under ASIC Class Order 03/184. Without limitation, each offer must be made in compliance with: 

 

	 	(a)	the Offer Document Condition; 

  

	 	(b)	the Local Entity Condition; 

  

	 	(c)	the 5% Condition; and 

  

	 	(d)	the Eligible Offer Condition, 

but only to the extent necessary in order to enable the Company to obtain the benefit of the relief available under ASIC Class Order
03/184. 
  

	10.	OFFER DOCUMENT CONDITION 

If required by Paragraph 9, the Company must provide an Offer Document to each Australian Employee that is to receive a Stock Grant
pursuant to the Australian Restricted Stock Agreement which Offer Document: 
  

	 	(a)	includes a copy of this Plan including, to avoid doubt, the Australian Sub-Plan; 

 

	 	(b)	details the acquisition price either in Australian dollars or, if the acquisition price is specified in US dollars, the Australian dollar equivalent of that price at
the date of the offer; and 

  
 - 3 -

	 	(c)	includes an undertaking, and an explanation of the way in which, an Australian associated body corporate of the Company will, during the offer period, within a
reasonable time of the Australian Employee requesting, make available to the Australian Employee the US dollar market price of Common Stock and the Australian dollar equivalent of that price. 

If the Company is required to comply with the Offer Document Condition then the Company must provide a proforma of the Offer Document, and
each document provided to the Australian Employee accompanying the Offer Document to ASIC not later than 7 days after the Company first provides such material to the Australian Employee. 

 

	11.	LOCAL ENTITY CONDITION 

If required by Paragraph 9, the Company must comply (or, if the Company does not have a registered office in Australia, cause an
associated body corporate which does have a registered office in Australia to comply) with any undertaking required to be made in the Offer Document by reason of ASIC Class Order 03/184. 

 

	12.	5% CONDITION 

 If required
by Paragraph 9, the Company must take reasonable steps to ensure that the number of shares of Common Stock proposed to be issued or transferred under a Stock Grant when aggregated with: 

 

	 	(a)	the number of shares of Common Stock the subject of outstanding Stock Rights or other rights to Common Stock under the Plan; and 

 

	 	(b)	the number of shares of Common Stock issued or transferred to a Participant, during the 5 years prior to the offer, pursuant to the Plan or any other employee share
scheme of the Company, 

 but disregarding: 

 

	 	(c)	any offer made for shares of Common Stock; 

  

	 	(d)	any offer of an option for the issue or transfer of shares of Common Stock; and 

 

	 	(e)	any shares of Common Stock issued, 

 by way of or as a result of: 
  

	 	(f)	an offer to a person situated at the time of receipt of the offer outside Australia; or 

 

	 	(g)	an offer that did not need disclosure to investors because of section 708 of the Corporations Act; 

 

	 	(h)	an offer that did not require the giving of a Product Disclosure Statement because of section 1012D of the Corporations Act; or 

 

	 	(i)	an offer made under a disclosure document or a Product Disclosure Statement, 

 does not exceed 5% of the total number of shares of issued Common Stock at the time of the proposed issue or transfer. 
  

	13.	ELIGIBLE OFFER CONDITION 

If required by Paragraph 9, the Company may only offer shares of Common Stock pursuant to this Plan if, at the time of the offer, the
Common Stock has been quoted on the NASDAQ or another approved foreign market for the purposes of ASIC Class Orders 03/184 throughout the 12 month period immediately before the offer without suspension for more than a total of 2 trading days during
that period. 

  
 - 4 -

	14.	COMPANIES PARTICIPATING IN AUSTRALIAN SUB-PLAN 

 The Australian companies participating in the Australian Sub-Plan shall each be an associate body corporate of the Company. 
  

	15.	NO RESTRICTION 

 Nothing
in this Australian Sub-Plan restricts the Company from undertaking any activity, including the offer or issue of a Stock Right, if such offer or issue is made in compliance with the Corporations Act and other applicable Australian laws. 

  
 - 5 -

 AUSTRALIAN RESTRICTED STOCK AGREEMENT 

ENERNOC, INC. 
 AGREEMENT made as of the                     , 20 (the “Grant Date”), between
EnerNOC, Inc. (the “Company”), a Delaware corporation, and                     (the “Participant”). 

WHEREAS, the Company has adopted the EnerNOC, Inc. Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the
“Plan”), which includes a Sub-Plan for Australian Employees, to promote the interests of the Company by providing an incentive for employees of the Company or its Affiliates; 

WHEREAS, pursuant to the provisions of the Plan, the Company desires to offer to the Participant shares of the Company’s common
stock, $.001 par value per share (“Common Stock”), in accordance with the provisions of the Plan, all on the terms and conditions hereinafter set forth; 
 WHEREAS, Participant wishes to accept said offer; and 
 WHEREAS, the parties
hereto understand and agree that any terms used and not defined herein have the meanings ascribed to such terms in the Plan. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Terms of
Grant. The Participant hereby accepts the offer of the Company to issue to the Participant, in accordance with the terms of the Plan and this
Agreement,                     (        ) Shares of the Company’s Common Stock (such shares,
subject to adjustment pursuant to Section 25 of the Plan and Subsection 2.1(h) hereof, the “Granted Shares”) at a purchase price of $.001 per share (the “Purchase Price”), receipt of which is hereby acknowledged by the
Participant’s prior service to the Company. 
 2.1. Forfeiture Provisions. 

(a) Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer an employee of the Company or an
Affiliate prior to                     (the “Termination”), the Participant (or the Participant’s Survivor) shall, on the date of
Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). 

The Company’s Lapsing Forfeiture Right is as follows: 

(i) If the Participant’s Termination is prior to [the first anniversary of the Grant Date], all of the Granted
Shares shall be forfeited to the Company. 
 (ii) If the Participant’s Termination is on or after [the
first anniversary of the Grant Date], but prior to                     ,     % of the Granted Shares shall be
forfeited to the Company (rounded up to the next highest whole number of shares), provided that     % of the Granted Shares shall no longer be subject to the Lapsing Forfeiture Right on the 1st of each quarter
after                     and
until                     . 
 (b) Effect of Termination for Disability or upon Death. The following rules apply if the Participant’s Termination is by reason of Disability or death: to the extent the
Company’s Lapsing Forfeiture Right has not lapsed as of the date of Disability or death, as case may be, the Participant shall forfeit to the Company any or all of the Granted Shares subject to such Lapsing Forfeiture Right; provided, however,
that the Company’s Lapsing Forfeiture Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died,
as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be. 

(c) Effect of a For Cause Termination. Notwithstanding anything to the contrary contained in this Agreement, in the event the
Company or an Affiliate terminates the Participant’s employment or service for “cause” (as defined in the Plan) or in the event the Administrator determines, within one year after the Participant’s termination, that either prior
or subsequent to the Participant’s termination the Participant engaged in conduct that would constitute “cause,” all of the Granted Shares then held by the Participant shall be forfeited to the Company immediately as of the time the
Participant is notified that he or she has been terminated for “cause” or that he or she engaged in conduct which would constitute “cause”. 

  
 - 6 -

 [Accelerated vesting on Change of Control to be determined on a grant-by-grant basis]
[(d) Effect of Change of Control. Except as otherwise provided in Subsection 2.1(c) above, the Company’s Lapsing Forfeiture Right shall terminate, and the Participant’s ownership of all Granted Shares then owned by the
Participant shall become vested in accordance with the terms and conditions set forth in Section 25(b) of the Plan.] 

(e) Escrow. The certificates representing all Granted Shares acquired by the Participant hereunder which from time to time are
subject to the Lapsing Forfeiture Right shall be delivered to the Company and the Company shall hold such Granted Shares in escrow as provided in this Subsection 2.1(e). The Company shall promptly release from escrow and deliver to the
Participant a certificate for the whole number of Granted Shares, if any, as to which the Company’s Lapsing Forfeiture Right has lapsed. In the event of forfeiture to the Company of Granted Shares subject to the Lapsing Forfeiture Right, the
Company shall release from escrow and cancel a certificate for the number of Granted Shares so forfeited. Any cash or securities distributed in respect of the Granted Shares held in escrow, including, without limitation, ordinary cash dividends
or shares issued as a result of stock splits, stock dividends or other recapitalizations (“Retained Distributions”), shall also be held in escrow in the same manner as the Granted Shares and all Retained Distributions shall be forfeited to
the Company or released from escrow and delivered to the Participant, as the case may be, at such time and in such manner as the Granted Shares to which such Retained Distributions so relate. All ordinary cash dividends retained hereunder shall,
during the period in which such dividends are retained by the Company, be deposited into an account at a financial institution selected by the Company, which shall not be required to bear interest or be segregated in a separate account. 

(f) Prohibition on Transfer. The Participant recognizes and agrees that all Granted Shares and Retained Distributions which
are subject to the Lapsing Forfeiture Right may not be sold, transferred, assigned, hypothecated, pledged, encumbered or otherwise disposed of, whether voluntarily or by operation of law, other than to the Company (or its designee). 

(g) Failure to Deliver Granted Shares to be Forfeited. In the event that the Granted Shares to be forfeited to the Company
under this Agreement are not in the Company’s possession pursuant to Subsection 2.1(e) above or otherwise and the Participant or the Participant’s Survivor fails to deliver such Granted Shares to the Company (or its designee), the
Company may immediately take such action as is appropriate to transfer record title of such Granted Shares from the Participant to the Company (or its designee) and treat the Participant and such Granted Shares in all respects as if delivery of such
Granted Shares had been made as required by this Agreement. The Participant hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

(h) Adjustments. The Plan contains provisions covering the treatment of Shares in a number of contingencies such as stock
splits and mergers. Provisions in the Plan for adjustment with respect to the Granted Shares and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein
by reference. 
 2.2 General Restrictions on Transfer of Granted Shares. 

(a) The Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and such
Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not
transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such period as is determined by the Company and the
underwriters, not to exceed 90 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of Securities Dealers, Inc. or similar
rules thereto (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and
conditions. Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the
end of the Lock-Up Period. 
 (b) The Participant acknowledges and agrees that neither the Company nor, its shareholders nor its
directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a Termination, including,
without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 

  
 - 7 -

 3. Securities Law Compliance. The Participant specifically acknowledges and
agrees that any sales of Granted Shares shall be made in accordance with the requirements of the Securities Act of 1933 and the Corporations Act 2001 (Cth), each as amended, and other relevant laws. 

4. Rights as a Stockholder. The Participant shall have all the rights of a stockholder with respect to the Granted Shares,
including voting and dividend rights, subject to the transfer and other restrictions set forth herein, including pursuant to Section 2.1(e) hereof and in the Plan. 
 5. Legend. In addition to any legend required pursuant to the Plan, all certificates representing the Granted Shares to be issued to the Participant pursuant to this Agreement shall have
endorsed thereon a legend substantially as follows: 
 “The shares represented by this certificate are subject to
restrictions set forth in a Restricted Stock Agreement dated as of                     with this Company, a copy of which Agreement is available for
inspection at the offices of the Company or will be made available upon request.” 
 6. Incorporation of the
Plan. The Participant specifically understands and agrees that the Granted Shares issued under the Plan are being sold to the Participant pursuant to the Plan, a copy of which Plan the Participant acknowledges he or she has read and
understands and by which Plan he or she agrees to be bound. The provisions of the Plan are incorporated herein by reference. 
 7. Tax Liability of the Participant and Payment of Taxes. The Participant acknowledges and agrees that any income or other taxes due from the Participant with respect to the Granted Shares issued
pursuant to this Agreement, including, without limitation, the Lapsing Forfeiture Right, shall be the Participant’s responsibility. 
 8. Equitable Relief. The Participant specifically acknowledges and agrees that in the event of a breach or threatened breach of the provisions of this Agreement or the Plan, including the
attempted transfer of the Granted Shares by the Participant in violation of this Agreement, monetary damages may not be adequate to compensate the Company, and, therefore, in the event of such a breach or threatened breach, in addition to any right
to damages, the Company shall be entitled to equitable relief in any court having competent jurisdiction. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for any such breach or
threatened breach. 
 9. No Obligation to Maintain Relationship. The Company is not by the Plan or this Agreement
obligated to continue the Participant as an employee of the Company or an Affiliate. The Participant acknowledges: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time;
(ii) that the grant of the Shares is a one-time benefit which does not create any contractual or other right to receive future grants of shares, or benefits in lieu of shares; (iii) that all determinations with respect to any such future
grants, including, but not limited to, the times when shares shall be granted, the number of shares to be granted, the purchase price, and the time or times when each share shall be free from a lapsing repurchase or forfeiture right, will be at the
sole discretion of the Company; (iv) that the Participant’s participation in the Plan is voluntary; (v) that the value of the Shares is an extraordinary item of compensation which is outside the scope of the Participant’s
employment contract; and (vi) that the Shares are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement
benefits or similar payments. 
 10. Notices. Any notices required or permitted by the terms of this Agreement or the
Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 
  

			
	If to the Company:	  	
		  	EnerNOC, Inc.
		  	Attn: Chief Financial Officer
		  	101 Federal Street, Suite 1100
		  	Boston, MA 02110
		
	If to the Employee:	  	

  
 - 8 -

 
or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be deemed to have been given on the earliest of receipt, one
business day following delivery by the sender to a recognized courier service, or three business days following mailing by registered or certified mail. 
 11. Benefit of Agreement. Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties hereto. 
 12. Governing Law. This Agreement shall be
construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, whether at law or
in equity, the parties hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Suffolk County, Massachusetts or the federal courts of the United States for the
District of Massachusetts. 
 13. Severability. If any provision of this Agreement is held to be invalid or
unenforceable by a court of competent jurisdiction, then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent that this is impossible, then such provision shall be
deemed to be excised from this Agreement, and the validity, legality and enforceability of the rest of this Agreement shall not be affected thereby. 
 14. Entire Agreement. This Agreement, together with the Plan, constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and
supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to
interpret, change or restrict the express terms and provisions of this Agreement provided, however, in any event, this Agreement shall be subject to and governed by the Plan. 
 15. Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be modified or amended as provided in the Plan. Except as provided in the Plan, the
terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed
to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
was given, and shall not constitute a continuing waiver or consent. 
 16. Consent of Spouse/Domestic Partner. If
the Participant has a spouse or domestic partner as of the date of this Agreement, the Participant’s spouse or domestic partner shall execute a Consent of Spouse/Domestic Partner in the form of Exhibit A hereto, effective as of the
date hereof. Such consent shall not be deemed to confer or convey to the spouse or domestic partner any rights in the Granted Shares that do not otherwise exist by operation of law or the agreement of the parties. If the Participant
subsequent to the date hereof, marries, remarries or applies to the Company for domestic partner benefits, the Participant shall, not later than 60 days thereafter, obtain his or her new spouse/domestic partner’s acknowledgement of and consent
to the existence and binding effect of all restrictions contained in this Agreement by having such spouse/domestic partner execute and deliver a Consent of Spouse/Domestic Partner in the form of Exhibit A. 

17. Counterparts. This Agreement may be executed in one or more counterparts, and by different parties hereto on separate
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 18. Data Privacy. By entering into this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the
Plan or providing Plan record keeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of Shares and the administration of the
Plan; (ii) waives any data privacy rights he or she may have with respect to such information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 

  
 - 9 -

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	ENERNOC, INC.
		
	 By:
	 	 
	 Name:

	 Title:

	
	 Participant:

		
	 By:
	 	 
	
	 Print Name:

 EXHIBIT A 
 CONSENT OF SPOUSE/DOMESTIC PARTNER 

I,                      
                   , spouse or domestic partner
of                     , acknowledge that I have read the RESTRICTED STOCK AGREEMENT dated as
of                     (the “Agreement”) to which this Consent is attached as Exhibit A and that I know its contents. Capitalized
terms used and not defined herein shall have the meanings assigned to such terms in the Agreement. I am aware that by its provisions the Granted Shares granted to my spouse/domestic partner pursuant to the Agreement are subject to a Lapsing
Forfeiture Right in favor of EnerNOC, Inc. (the “Company”) and that, accordingly, I may be required to forfeit to the Company any or all of the Granted Shares of which I may become possessed as a result of a court decree and/or
any property settlement in any domestic litigation. 
 I hereby agree that my interest, if any, in the Granted Shares subject to
the Agreement shall be irrevocably bound by the Agreement and further understand and agree that any community property interest I may have in the Granted Shares shall be similarly bound by the Agreement. 

I agree to the Lapsing Forfeiture Right described in the Agreement and I hereby consent to the forfeiture of the Granted Shares to the
Company by my spouse/domestic partner or my spouse/domestic partner’s legal representative in accordance with the provisions of the Agreement. Further, as part of the consideration for the Agreement, I agree that at my death, if I
have not disposed of any interest of mine in the Granted Shares by an outright bequest of the Granted Shares to my spouse or domestic partner, then the Company shall have the same rights against my legal representative to exercise its rights to the
Granted Shares with respect to any interest of mine in the Granted Shares as it would have had pursuant to the Agreement if I had acquired the Granted Shares pursuant to a court decree in domestic litigation. 

I AM AWARE THAT THE LEGAL, FINANCIAL AND RELATED MATTERS CONTAINED IN THE AGREEMENT ARE COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT
PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE AGREEMENT CAREFULLY THAT I WILL WAIVE SUCH RIGHT. 

Dated as of the                    
day of                     , 20        . 

 

	
	
	  
	Print name:

 A-1 

 [Enernoc Pty Ltd letterhead] 
 [Date] 
 ### 
 ### 
 ### 
 Dear ###  
 EnerNOC, Inc. Stock Plan 

In recognition of your continuing commitment to EnerNOC Pty Ltd (EnerNOC Australia), EnerNOC Australia would like to invite you to participate in
the Australian component of the EnerNOC, Inc. Amended and Restated 2007 Employee, Director and Consultant Stock Plan (Australian Plan). 

This offer is made on the general terms and conditions contained in the document titled EnerNOC, Inc. Amended and Restated 2007 Employee, Director and
Consultant Stock Plan, as amended by the Australian Sub-Plan (Rules), the Australian Restricted Stock Agreement (Agreement) and on the specific terms and conditions set out in this letter. This letter is accompanied by a copy of the
Rules and the Agreement. You should read this letter, the Rules and the Agreement carefully. 
 A capitalised term not defined in this letter
that is defined in the Rules or the Agreement has the same meaning in this letter. 
 Offer 

You are invited to apply for [insert] shares of EnerNOC, Inc.’s Common Stock (Shares) at a purchase price of US$0.001 (AU$[insert equivalent
on date of Offer]) per Share (Offer) receipt of which is acknowledged by your prior service to EnerNOC Australia. The Offer contained in this letter will remain open until 5:00pm Australian Eastern Standard Time (AEST) on [insert], and
if not accepted by that time, it will end unless extended by EnerNOC Australia (Offer Period). EnerNOC Australia reserves the right to accept late acceptances at its absolute discretion. 

Acceptance 
 You may accept the Offer by
signing, dating and returning the Agreement to Sonali Dias, Manager, Human Resources, of EnerNOC Australia by no later than 5.00pm AEST on [insert]. Additionally, if you have a spouse or domestic partner, please have that person sign the document in
Annexure A of the Agreement. Please return that signed form together with the Agreement. 
 If the Agreement is duly executed and received by
EnerNOC Australia by the required time, the Shares will be issued to you in accordance with the terms of the Rules and the Agreement. 

Entitlement to retain Shares 
 In
accordance with the Agreement and the Rules, if for any reason your employment at EnerNOC Australia ends before the dates set out in the table below, on the date that your employment ends you will be required to immediately forfeit the percentage of
the total number of Shares issued to you under the Offer in accordance with the following table: 
  

			
	 Position ending date
	  	 % of Shares to be forfeited

	 Prior to first anniversary of date of issue
	  	100
		
	 [insert]
	  	

 This table mirrors clause 2.1(a)(ii) of the Australian Restricted Stock Agreement. 

 If your employment at EnerNOC Australia is terminated for cause or because of death or disability, EnerNOC,
Inc. may deal with the Shares issued to you under the Offer in accordance with the Agreement. 
 Escrow 

All Shares issued to you under the Offer will be held in escrow while they are subject to forfeiture rights. Any cash (including dividends) or securities
distributed in respect of escrowed Shares will also be held in escrow. 
 While the Shares are held in escrow, you will not be able to sell,
transfer or otherwise deal with the Shares issued to you under this Offer. 
 Rights as a shareholder 

You will have all the rights as a shareholder with respect to the Shares issued to you under the Offer (including Shares held in escrow), including voting
and dividend rights, subject to transfer, escrow and other restrictions set out in the Agreement and the Rules. 
 Market Price

 During the Offer Period, upon request, EnerNOC Australia undertakes to make available within a reasonable period: 

 

	 	(1)	the Australian dollar equivalent of the current market price of the Shares as published by NASDAQ as the final price on the previous day on which the Shares were
traded; and 

  

	 	(2)	the current Australian dollar equivalent of the purchase price for the Shares the subject of Offer. 

The Australian currency equivalent of a price will be calculated by reference to the exchange rate published by the Reserve Bank of Australia on the
business day before the date the information is made available to EnerNOC Australia. 
 Tax 

This section contains a brief summary of the taxation treatment of Shares issued to Australian Employees under the Australian Plan. However, the tax
considerations outlined below are general in nature and do not take into account the specific taxation circumstances of each individual participant. The taxation consequences may vary depending upon the particular circumstances of each individual
participant. Accordingly you should seek your own independent taxation advice before applying to participate in the Australian Plan. 
 The
following analysis is based on the law in force, and administrative practice of the Commissioner of Taxation (Commissioner), as of November 21, 2011. Changes to the law or the way the Commissioner administers the law may result in
different tax treatment of the Shares. You should be aware that the ultimate interpretation of the taxation law rests with the courts. 

  
 - 2 -

 The following analysis assumes that you are, and remain, an Australian resident for tax purposes. You should
note that there are particular taxation consequences for non-residents or for residents whose tax residency status changes. 
 Employee Share
Scheme Provisions 
 The employee share scheme provisions in Division 83A of the Income Tax Assessment Act 1997 (ITAA 97) will
have application to Shares granted to you under the Australian Plan. 
 Broadly, under the employee share scheme provisions, where you acquire
shares under an employee share scheme your assessable income includes any “discount” (compared to market value) given in relation to the shares. 
 The Australian Plan has been designed to enable you to obtain the benefit of what is known as the “tax deferral concession”. Ordinarily, the discount on your Shares would be subject to tax in
the income year of grant of the Shares. The tax deferral concession provides for the tax on the discount on your Shares to be deferred until the income tax year in which the deferred taxing point arises (see below). 

The tax deferral concession will apply if: 
  

	 	(1)	you are employed by EnerNOC Australia (being a subsidiary of EnerNOC, Inc.); 

 

	 	(2)	your Shares are common stock in EnerNOC, Inc.; 

  

	 	(3)	at least 75% of the Australian-resident permanent employees of EnerNOC Australia who have completed at least 3 years of service (whether continuous or non-continuous)
are entitled to acquire Shares under the Australian Plan or under another employee share scheme operated by EnerNOC, Inc.; 

  

	 	(4)	immediately after you acquire the Shares: 

  

	 	(a)	you do not hold a beneficial interest in more than 5% of the shares in EnerNOC, Inc.; 

 

	 	(b)	you are not in a position to cast, or control the casting of, more than 5% of the maximum number of votes that might be cast at a general meeting of EnerNOC, Inc.; and

  

	 	(5)	there is a real risk that, under the conditions of the Australian Plan, you will forfeit or lose your Shares (other than by disposing of them) (real risk of
forfeiture). 

 If you do not meet the above conditions for tax deferral, you will be taxed on the discount on your Shares in
the income year of grant. 
 Based on current Australian Tax Office guidance, EnerNOC, Inc. believes that the condition requiring you to have
been continuously employed by EnerNOC, Inc or an Affiliate (such as EnerNOC Australia) from the Grant Date until the forfeiture rights lapse will satisfy the real risk of forfeiture test. 
 If tax deferral applies, and subject to one qualification (refer below), the deferred taxing point of the Shares is the earlier of: 

 

	 	(1)	the time when there is no longer a real risk of forfeiture and no genuine disposal restrictions apply (such as escrow, insider trading prohibitions under applicable
securities law or trading restrictions under the EnerNOC, Inc. Share Trading Policy, e.g. a prescribed black-out period); 

  

	 	(2)	cessation of your employment with EnerNOC Australia; and 

  

	 	(3)	7 years from the Grant Date of the Shares. 

  
 - 3 -

 The exception is that if you dispose of your Shares within 30 days of what would otherwise be the deferred
taxing point (as set out in the above paragraph), the deferred taxing point will instead be the date of disposal of the Shares. 
 The
“discount” on your Shares will typically be the market price of a Share at the deferred taxing point less any purchase price multiplied by the number of Shares (or, if the exception set out in the above paragraph applies, your disposal
proceeds). 
 How does capital gains tax apply going forward? 
 Where tax deferral applies, you will be deemed to have acquired your Shares on the date the deferred taxing point occurs for the “market value” used in determining the “discount” on
which tax is paid under the employee share scheme provisions. 
 Your Shares will be subject to the capital gains tax regime going forward. If a
CGT event happens to your Shares you may realise a capital gain or loss. 
 Contact 

If you have any queries in relation to the matters set out in this letter, please contact Jeff Renaud, Director, Australia & New Zealand, or
Sonali Dias, Manager, Human Resources, of EnerNOC Australia. 
 Other terms and conditions 

The term relating to your participation in the Australian Plan may be amended unilaterally by the Administrator where the Administrator considers it
reasonably necessary to do so, even if your rights will be adversely affected by the amendment. 
 IMPORTANT NOTES: 

To accept the Offer for Shares, please return a signed copy of the enclosed Agreement to: 

Sonali Dias, Manager, Human Resources, of EnerNOC Australia 
 The Agreement must be received at the above address no later than 5pm AEST on [insert]. 
 Yours
faithfully 
 David Samuels, Executive Vice President of EnerNOC, Inc. 

  
 - 4 -EX-4.1

 Exhibit 4.1 
 On June 3, 2013, the Company issued Warrants in the form of the attached Form of Warrant to the following investors to purchase the following number of shares of the Company’s Class A
common stock: 
  

									
	 Investor:
	  	Number of shares of
Class A common
stock:	 	  	Warrant No.:	 
	 Stiassni Capital Partners, LP
	  	 	437,500	  	  	 	WP-1	  
	 Wolverine Flagship Fund Trading Limited*
	  	 	363,638	  	  	 	WP-2	  
	 Anson Investments Master Fund LP
	  	 	136,364	  	  	 	WP-3	  
	 Kingsbrook Opportunities Master Fund LP
	  	 	109,091	  	  	 	WP-4	  
	 Ardsley Partners Renewables Energy Fund, L.P.
	  	 	91,000	  	  	 	WP-5	  
	 Empery Asset Master, Ltd
	  	 	36,350	  	  	 	WP-6	  
	 Hartz Capital Investments, LLC
	  	 	55,000	  	  	 	WP-7	  
	 Capital Ventures International
	  	 	90,909	  	  	 	WP-8	  
	 Hudson Bay Master Fund Ltd
	  	 	90,909	  	  	 	WP-9	  
	 Alpha Capital Anstalt
	  	 	90,909	  	  	 	WP-10	  
	 Iroquois Master Fund Ltd.
	  	 	90,909	  	  	 	WP-11	  
	 Hoak Public Equities, LP
	  	 	90,909	  	  	 	WP-12	  

  

	*	The last sentence in Paragraph 1(f)(i) of the Form of Warrant was deleted from the Warrant issued to Wolverine Flagship Fund Trading Limited. 

 NEITHER THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ANY APPLICABLE STATE
SECURITIES LAWS AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE
SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES. 
 REAL GOODS SOLAR, INC. 
 WARRANT TO PURCHASE COMMON STOCK 
 Warrant No.:              
 Date
of Issuance: June 3, 2013 (“Issuance Date”) 
 Real Goods Solar, Inc., a Colorado corporation (the
“Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
                    , the registered holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set
forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, upon exercise of this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement
hereof, the “Warrant”), at any time or times on or after the Issuance Date, but not after 11:59 p.m., New York time, on the Expiration Date (as defined below),             
(subject to adjustment as provided herein) fully paid and non-assessable shares of Common Stock (as defined below) (the “Warrant Shares”). Except as otherwise defined herein, capitalized terms in this Warrant shall have the meanings
set forth in Section 15. Capitalized terms used and not otherwise defined herein that are defined in the Securities Purchase Agreement (as defined below) will have the respective meanings given such terms in the Securities Purchase Agreement.
This Warrant is one of the Warrants to Purchase Common Stock (the “SPA Warrants”) issued pursuant to that certain Securities Purchase Agreement, dated as of May 24, 2013, by and among the Company and the investors (the
“Buyers”) referred to therein, as amended from time to time (the “Securities Purchase Agreement”). 

  
 2 

 1. EXERCISE OF WARRANT. 

(a) Mechanics of Exercise. Subject to the terms and conditions hereof (including, without limitation, the
limitations set forth in Section 1(f)), this Warrant may be exercised by the Holder on any day on or after the Issuance Date, in whole or in part, by delivery (whether via facsimile or otherwise) of a written notice, in the form attached hereto
as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant. Within one (1) Trading Day following an exercise of this Warrant as aforesaid, the Holder shall deliver payment to the
Company of an amount equal to the Exercise Price in effect on the date of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised (the “Aggregate Exercise Price”) in cash or via wire
transfer of immediately available funds unless the Holder notifies the Company in such Exercise Notice that such exercise was made pursuant to a Cashless Exercise (as defined in Section 1(d)) to the extent permitted by Section 1(d). The
Holder shall not be required to deliver the original of this Warrant in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as
cancellation of the original of this Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of the then-remaining Warrant Shares shall have
the same effect as cancellation of the original of this Warrant after delivery of the Warrant Shares in accordance with the terms hereof. On or before the first (1st) Trading Day following the date on which the Company has received an Exercise Notice, the Company shall transmit
by facsimile an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit B, to the Holder and the Company’s transfer agent (the “Transfer Agent”). On or before
the later of (i) the third (3rd) Trading Day
following the date on which the Company has received such Exercise Notice, and (ii) the second (2nd) Trading Day following the date on which the Company has received the Aggregate Purchase Price, the Company shall (X) provided that the Transfer Agent is participating in The Depository Trust
Company (“DTC”) Fast Automated Securities Transfer Program, upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its
designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the Holder or, at the
Holder’s instruction pursuant to the Exercise Notice, the Holder’s agent or designee, in each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered in the
Company’s share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice), for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. Upon delivery of an
Exercise Notice, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the
Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be). If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the number of Warrant
Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then, at the request of the Holder, the Company shall as soon as practicable and in no event later than three
(3) Business Days after any exercise and at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 6(d)) representing the right to purchase the number of Warrant Shares purchasable
immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to be issued upon the exercise of this Warrant, but rather the number
of shares of Common 

  
 3 

 Stock to be issued shall be rounded up to the nearest whole number. The Company shall pay any and all taxes
and fees which may be payable with respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant. The Company shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the
issuance and delivery of Common Stock in any name other than that of the Holder of this Warrant. Notwithstanding the foregoing, except in the case where an exercise of this Warrant is validly made pursuant to a Cashless Exercise (as defined in
Section 1(d)), the Company’s failure to deliver Warrant Shares to the Holder on or prior to the second (2nd) Trading Day after the Company’s receipt of the Aggregate Exercise Price shall not be deemed to be a breach of this
Warrant. Notwithstanding any provision of this Warrant to the contrary, no more than the number of Warrant Shares eligible to be issued pursuant to the limitation in Section 1(f) below shall be exercisable hereunder. 

(b) Exercise Price. For purposes of this Warrant, “Exercise Price” means $2.75, subject to adjustment as provided
herein. 
 (c) Company’s Failure to Timely Deliver Securities. If the Company shall fail, for any reason or for no
reason, to issue to the Holder within the later of (i) three (3) Trading Days after receipt of the applicable Exercise Notice and (ii) two (2) Trading Days after the Company’s receipt of the Aggregate Exercise Price (or
valid notice of a Cashless Exercise) (such later date, the “Share Delivery Deadline”), a certificate for the number of shares of Common Stock to which the Holder is entitled and register such shares of Common Stock on the
Company’s share register or to credit the Holder’s balance account with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise of this Warrant (as the case may be) (a “Delivery
Failure”), and if on or after such Share Delivery Deadline the Holder (or any other Person in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of
a sale by the Holder of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, issuable upon such exercise that the Holder so
anticipated receiving from the Company, then, in addition to all other remedies available to the Holder, the Company shall, within three (3) Business Days after the Holder’s request and in the Holder’s discretion, either (i) pay
cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including, without limitation, by any other
Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), at which point the Company’s obligation to so issue and deliver such certificate or credit the Holder’s balance account with DTC for the number of
shares of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder (as the case may be) (and to issue such shares of Common Stock) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to
the Holder a certificate or certificates representing such shares of Common Stock or credit the Holder’s balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder
(as the case may be) and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock multiplied by (B) the lowest Closing Sale Price of the Common Stock
on any Trading Day during the period commencing on the date of the applicable Exercise Notice and ending on the date of such issuance and payment under this clause (ii). 

  
 4 

 (d) Cashless Exercise. Notwithstanding anything contained herein to the contrary
(other than Section 1(f) below), if at any time of exercise hereof a Registration Statement (as defined in the Registration Rights Agreement) is not effective (or the prospectus contained therein is not available for use on a continuous basis)
for the resale by the Holder of the Warrant Shares then being exercised at market prices from time to time, then the Holder may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise
contemplated to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the “Net Number” of shares of Common Stock determined according to the following formula (a
“Cashless Exercise”): 
 Net Number = (A x B) - (A x C) 

                       
                                 D 

For purposes of the foregoing formula: 
 A= the total number of shares with respect to which this Warrant is then being exercised. 
 B=the quotient of (x) the sum of the VWAP of the Common Stock of each of the five (5) Trading Days ending at the close of business on the Principal Market immediately prior to the time of
exercise as set forth in the applicable Exercise Notice, divided by (y) five (5). 
 C= the Exercise Price then in effect
for the applicable Warrant Shares at the time of such exercise. 
 D= as applicable: (i) the Closing Sale Price of the
Common Stock on the Trading Day immediately preceding the date of the applicable Exercise Notice if such Exercise Notice is (1) both executed and delivered pursuant to Section 1(a) hereof on a day that is not a Trading Day or (2) both
executed and delivered pursuant to Section 1(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading
Day, (ii) the Bid Price of the Common Stock as of the time of the Holder’s execution of the applicable Exercise Notice if such Exercise Notice is executed during “regular trading hours” on a Trading Day and is delivered within
two (2) hours thereafter pursuant to Section 1(a) hereof, or (iii) the Closing Sale Price of the Common Stock on the date of the applicable Exercise Notice if the date of such Exercise Notice is a Trading Day and such Exercise Notice
is both executed and delivered pursuant to Section 1(a) hereof after the close of “regular trading hours” on such Trading Day. 
 (e) Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares to be issued pursuant to the terms hereof, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section 12. 

  
 5 

 (f) Limitations on Exercises. 

(i) Notwithstanding anything to the contrary contained in this Warrant, this Warrant shall not be exercisable by the
Holder hereof, to the extent (but only to the extent) that after giving effect to such exercise the Holder (together with any of its affiliates) would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the
Common Stock. To the extent the above limitation applies, the determination of whether this Warrant shall be exercisable (vis-à-vis other convertible, exercisable or exchangeable securities owned by the Holder or any of its affiliates)
and of which such securities shall be convertible, exercisable or exchangeable (as the case may be, as among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first
submission to the Company for conversion, exercise or exchange (as the case may be). No prior inability to exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph with
respect to any subsequent determination of exercisability. For the purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect to calculations of percentage ownership) shall
be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder. The provisions of this paragraph shall be implemented
in a manner otherwise than in strict conformity with the terms of this paragraph to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein
contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant. The holders of Common
Stock shall be third party beneficiaries of this paragraph and the Company may not waive this paragraph without the consent of holders of a majority of its Common Stock. For any reason at any time, upon the written or oral request of the Holder, the
Company shall within one (1) Business Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding, including by virtue of any prior conversion or exercise of convertible or exercisable securities into
Common Stock, including, without limitation, pursuant to this Warrant or securities issued pursuant to the Securities Purchase Agreement. At any time the Holder may increase or decrease the Maximum Percentage to any other percentage not in excess of
9.99% as specified in a written notice by the Holder to the Company (subject to the Company’s consent to any such increase, not to be unreasonably withheld); provided that (i) any such increase will not be effective until the 61st day
after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder sending such notice and not to any other holder of SPA Warrants. 

(ii) Principal Market Regulation. The Company shall not issue any shares of Common Stock upon the exercise of this
Warrant if the issuance of such shares of Common Stock (taken together with the Shares and the issuance of such shares of Common Stock upon exercise of the SPA Warrants) would exceed the aggregate number of shares of Common Stock which the Company
may issue upon exercise of the SPA Warrants without breaching the Company’s obligations under the rules or regulations of the Principal Market (the number of shares which may be issued without violating such rules and regulations, the
“Exchange Cap”), except that such limitation shall not apply in 

  
 6 

 
the event that the Company (A) obtains the approval of its shareholders as required by the applicable rules of the Principal Market for issuances of shares of Common Stock in excess of such
amount or (B) obtains a written opinion from outside counsel to the Company that such approval is not required, which opinion shall be reasonably satisfactory to the Holder. Until such approval or such written opinion is obtained, no Buyer
shall be issued in the aggregate, upon exercise of the Warrants, shares of Common Stock in an amount greater than the product of (i) the Exchange Cap as of the Issuance Date multiplied by (ii) the quotient of (1) the number of Shares
issued to such Buyer pursuant to the Securities Purchase Agreement on the Closing Date (as defined in the Securities Purchase Agreement) divided by (2) the aggregate number of Shares issued to all Investors pursuant to the Securities Purchase
Agreement on the Closing Date (with respect to each Buyer, the “Exchange Cap Allocation”). In the event that any Buyer shall sell or otherwise transfer any of such Buyer’s SPA Warrants, the transferee shall be allocated a pro
rata portion of such Buyer’s Exchange Cap Allocation with respect to such portion of such SPA Warrants so transferred, and the restrictions of the prior sentence shall apply to such transferee with respect to the portion of the Exchange Cap
Allocation so allocated to such transferee. Upon exercise in full of a holder’s SPA Warrants, the difference (if any) between such holder’s Exchange Cap Allocation and the number of shares of Common Stock actually issued to such
holder upon such holder’s exercise in full of such SPA Warrants shall be allocated to the respective Exchange Cap Allocations of the remaining holders of SPA Warrants on a pro rata basis in proportion to the shares of Common Stock underlying
the SPA Warrants then held by each such holder of SPA Warrants. In the event that the Company is prohibited from issuing any shares of Common Stock pursuant to this Section 1(f)(ii) (the “Exchange Cap Shares”), in lieu of
issuing and delivering such Exchange Cap Shares to the Holder, the Company shall pay cash to the Holder in exchange for the cancellation of such portion of this Warrant exercisable into such Exchange Cap Shares (the “Exchange Cap Payment
Amount”) at a price equal to the sum of (x) the product of (A) such number of Exchange Cap Shares and (B) the greatest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date the
Holder delivers the applicable Exercise Notice with respect to such Exchange Cap Shares to the Company and ending on the date of such payment under this Section 1(f)(ii) and (y) to the extent the Holder purchases (in an open market
transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of Exchange Cap Shares, any brokerage commissions and other out-of-pocket expenses, if any, of the Holder incurred in connection therewith.

 (g) Insufficient Authorized Shares. The Company shall at all times keep reserved for issuance under this Warrant a
number of shares of Common Stock at least equal to 135% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock hereunder (without regard to any limitation
otherwise contained herein with respect to the number of shares of Common Stock that may be acquirable upon exercise of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while any of the SPA Warrants remain
outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise of the SPA Warrants at least a number of shares of Common Stock (the
“Required Reserve Amount”) equal to the number of shares of Common Stock as shall from time to time be necessary to effect the exercise of all of the SPA 

  
 7 

 
Warrants then outstanding (an “Authorized Share Failure”), then the Company shall promptly take all action reasonably necessary to increase the Company’s authorized shares
of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for all the SPA Warrants then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after the date of the
occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its shareholders for the approval of an increase in the number of
authorized shares of Common Stock. In connection with such meeting, the Company shall provide each shareholder with a proxy statement and shall use its reasonable best efforts to solicit its shareholders’ approval of such increase in authorized
shares of Common Stock and to cause its board of directors to recommend to the shareholders that they approve such proposal. In the event that the Company is prohibited from issuing shares of Common Stock upon an exercise of this Warrant due to the
failure by the Company to have sufficient shares of Common Stock available out of the authorized but unissued shares of Common Stock (such unavailable number of shares of Common Stock, the “Authorization Failure Shares”), in lieu of
delivering such Authorization Failure Shares to the Holder, the Company shall pay cash in exchange for the cancellation of such portion of this Warrant exercisable into such Authorized Failure Shares at a price equal to the sum of (i) the
product of (x) such number of Authorization Failure Shares and (y) the greatest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date the Holder delivers the applicable Exercise Notice with
respect to such Authorization Failure Shares to the Company and ending on the date of such issuance and payment under this Section 1(g) and (ii) to the extent the Holder purchases (in an open market transaction or otherwise) shares of
Common Stock to deliver in satisfaction of a sale by the Holder of Authorization Failure Shares, any brokerage commissions and other out-of-pocket expenses, if any, of the Holder incurred in connection therewith. 

2. ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and number of Warrant Shares issuable upon exercise of this
Warrant are subject to adjustment from time to time as set forth in this Section 2. 
 (a) Stock Dividends and
Splits. Without limiting any provision of Section 2(b) or Section 3, if the Company, at any time on or after the Issuance Date, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or
otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of
Common Stock into a larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then outstanding shares of Common Stock into a smaller number of shares, then in each such case the
Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution, and any
adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment under this paragraph occurs during the
period that an Exercise Price is calculated hereunder, then the calculation of such Exercise Price shall be adjusted appropriately to reflect such event. 

  
 8 

 (b) Adjustment Upon Issuance of Shares of Common Stock. If and whenever on or after
the Issuance Date, the Company issues or sells, or in accordance with this Section 2 is deemed to have issued or sold, any shares of Common Stock (including the issuance or sale of shares of Common Stock owned or held by or for the account of
the Company, but excluding any Excluded Securities issued or sold or deemed to have been issued or sold) for a consideration per share (the “New Issuance Price”) less than a price equal to the Exercise Price in effect immediately
prior to such issue or sale or deemed issuance or sale (such Exercise Price then in effect is referred to as the “Applicable Price”) (the foregoing a “Dilutive Issuance”), then immediately after such Dilutive
Issuance, the Conversion Price then in effect shall be reduced to an amount equal to the product of (A) the Conversion Price in effect immediately prior to such Dilutive Issuance and (B) the quotient determined by dividing (1) the sum
of (I) the product derived by multiplying the Conversion Price in effect immediately prior to such Dilutive Issuance and the number of Common Stock Deemed Outstanding immediately prior to such Dilutive Issuance plus (II) the net consideration,
if any, received by the Company upon such Dilutive Issuance (as determined and, if applicable, adjusted, pursuant to Section 2(b)(ii) below), by (2) the product derived by multiplying (I) the Conversion Price in effect immediately
prior to such Dilutive Issuance by (II) the sum of (x) the number of Common Stock Deemed Outstanding immediately prior to such Dilutive Issuance plus (y) the number of shares of Common Stock issued (or deemed issued in such Dilutive
Issuance pursuant to Sections 2(b)(i) and 2(b)(ii) below, regardless of whether such Options or Convertible Securities are actually convertible or exercisable at such time, but excluding any shares of Common Stock issued (or deemed issued pursuant
to Sections 2(b)(i) and 2(b)(ii) below) under any Secondary Securities (as defined below), if any). For all purposes of the foregoing (including, without limitation, determining the adjusted Conversion Price and consideration per share under
this Section 2(b)), the following shall be applicable: 
 (i) Issuance of Options. If the Company in
any manner grants or sells any Options and the lowest price per share for which one share of Common Stock is issuable upon the exercise of any such Option or upon conversion, exercise or exchange of any Convertible Securities issuable upon exercise
of any such Option is less than the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the granting or sale of such Option for such price per share. For
purposes of this Section 2(b)(i), the “lowest price per share for which one share of Common Stock is issuable upon the exercise of any such Options or upon conversion, exercise or exchange of any Convertible Securities issuable upon
exercise of any such Option” shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with respect to any one share of Common Stock upon the granting or sale
of such Option, upon exercise of such Option and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option and (y) the lowest exercise price set forth in such Option for which one share of Common
Stock is issuable upon the exercise of any such Options or upon conversion, exercise or exchange of any Convertible Securities issuable upon exercise of any such Option minus (2) the sum of all amounts paid or payable to the holder of such
Option (or any other Person) upon the 

  
 9 

 
granting or sale of such Option, upon exercise of such Option and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option plus the value of any
other consideration received or receivable by, or benefit conferred on, the holder of such Option (or any other Person). Except as contemplated below, no further adjustment of the Exercise Price shall be made upon the actual issuance of such shares
of Common Stock or of such Convertible Securities upon the exercise of such Options or upon the actual issuance of such shares of Common Stock upon conversion, exercise or exchange of such Convertible Securities. 

(ii) Issuance of Convertible Securities. If the Company in any manner issues or sells any Convertible Securities
and the lowest price per share for which one share of Common Stock is issuable upon the conversion, exercise or exchange thereof is less than the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been
issued and sold by the Company at the time of the issuance or sale of such Convertible Securities for such price per share. For the purposes of this Section 2(b)(ii), the “lowest price per share for which one share of Common Stock is
issuable upon the conversion, exercise or exchange thereof” shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with respect to one share of Common Stock
upon the issuance or sale of the Convertible Security and upon conversion, exercise or exchange of such Convertible Security and (y) the lowest conversion price set forth in such Convertible Security for which one share of Common Stock is
issuable upon conversion, exercise or exchange thereof minus (2) the sum of all amounts paid or payable to the holder of such Convertible Security (or any other Person) upon the issuance or sale of such Convertible Security plus the value of
any other consideration received or receivable by, or benefit conferred on, the holder of such Convertible Security (or any other Person). Except as contemplated below, no further adjustment of the Exercise Price shall be made upon the actual
issuance of such shares of Common Stock upon conversion, exercise or exchange of such Convertible Securities, and if any such issue or sale of such Convertible Securities is made upon exercise of any Options for which adjustment of this Warrant has
been or is to be made pursuant to other provisions of this Section 2(b), except as contemplated below, no further adjustment of the Exercise Price shall be made by reason of such issue or sale. 

(iii) Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options,
the additional consideration, if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exercisable or exchangeable for shares of Common
Stock, increases or decreases at any time, the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided
for such increased or decreased purchase price, additional consideration or increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(b)(iii), if the terms of any
Option or Convertible Security that was outstanding as of the date of issuance of this Warrant are increased or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares of
Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 2(b) shall be made if such adjustment would
result in an increase of the Exercise Price then in effect. 

  
 10 

 (iv) Calculation of Consideration Received. If
any Option and/or Convertible Security and/or Adjustment Right is issued in connection with the issuance or sale or deemed issuance or sale of any other securities of the Company (as determined by the Holder, the “Primary Security”,
and such Option and/or Convertible Security and/or Adjustment Right, the “Secondary Securities”), together comprising one integrated transaction, the Primary Security issued or sold in such integrated transaction shall be deemed to
have been issued for consideration equal to the difference of (A) the aggregate consideration received by the Company to purchase such Primary Security and Secondary Securities, minus (B) the product of (x) solely with respect to the
Secondary Securities, the sum of (I) the Black Scholes Consideration Value of such Option, if any, (II) the fair market value (as determined by the Holder) or the Black Scholes Consideration Value, as applicable, of such Adjustment Right, if
any, and (III) the fair market value (as determined by the Holder) of such Convertible Security, if any, in each case, as determined on a per share basis in accordance with this Section 2(b)(iv) and (y) the aggregate number of shares of
Common Stock issued (or deemed issued pursuant to Sections 2(a)(i) and 2(a)(ii) above, regardless of whether such Options or Convertible Securities are actually convertible or exercisable at such time) in such Dilutive Issuance pursuant to such
Secondary Securities. If any shares of Common Stock, Options or Convertible Securities are issued or sold or deemed to have been issued or sold for cash, the consideration received therefor will be deemed to be the net amount of consideration
received by the Company therefor. If any shares of Common Stock, Options or Convertible Securities are issued or sold for a consideration other than cash, the amount of such consideration received by the Company will be the fair value of such
consideration, except where such consideration consists of publicly traded securities, in which case the amount of consideration received by the Company for such securities will be the arithmetic average of the VWAPs of such security for each of the
five (5) Trading Days immediately preceding the date of receipt. If any shares of Common Stock, Options or Convertible Securities are issued to the owners of the non-surviving entity in connection with any merger in which the Company is the
surviving entity, the amount of consideration therefor will be deemed to be the fair value of such portion of the net assets and business of the non-surviving entity as is attributable to such shares of Common Stock, Options or Convertible
Securities, as the case may be. The fair value of any consideration other than cash or publicly traded securities will be determined jointly by the Company and the Holder. If such parties are unable to reach agreement within ten (10) days after
the occurrence of an event requiring valuation (the “Valuation Event”), the fair value of such consideration will be determined within five (5) Trading Days after the tenth (10th) day following such Valuation Event by an independent,
reputable appraiser jointly selected by the Company and the Holder. The determination of such appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses of such appraiser shall be borne by the Company.

  
 11 

 (v) Record Date. If the Company takes a record of the holders of
shares of Common Stock for the purpose of entitling them (A) to receive a dividend or other distribution payable in shares of Common Stock, Options or in Convertible Securities or (B) to subscribe for or purchase shares of Common Stock,
Options or Convertible Securities, then such record date will be deemed to be the date of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the making of such other
distribution or the date of the granting of such right of subscription or purchase (as the case may be). 
 (c) Number of
Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraphs (a) or (b) of this Section 2, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment
(without regard to any limitations on exercise contained herein). 
 (d) Other Events. In the event that the Company (or
any Subsidiary) shall take any action to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type contemplated by the provisions of this
Section 2 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company’s board of directors shall
in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(d)
will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2. 
 (e) Calculations. All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares
owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock. 
 3. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS. 
 (a) Purchase Rights.
In addition to any adjustments pursuant to Section 2 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of the Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Maximum Percentage) immediately before the date on which a
record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would
not result in the Holder exceeding the Maximum Percentage). 

  
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 (b) Fundamental Transactions. The Company shall not enter into or be party to a
Fundamental Transaction unless the Successor Entity assumes in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(b) pursuant to written
agreements in form and substance satisfactory to the Holder and approved by the Holder prior to such Fundamental Transaction, including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by
a written instrument substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for a corresponding number of shares of capital stock equivalent to the shares of Common Stock acquirable and
receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price being
for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction). Upon the consummation of each Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of the applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise
every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. Upon
consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be issued upon exercise of this Warrant (or other securities, cash, assets or other property (except such items still
issuable under Section 3(a) above, which shall continue to be receivable thereafter) (without regard to any limitations on the exercise of this Warrant). Notwithstanding the foregoing, and without limiting Section 1(f) hereof, the Holder
may elect, at its sole option, by delivery of written notice to the Company to waive this Section 3(b) to permit the Fundamental Transaction without the assumption of this Warrant. 

(c) Black Scholes Value. 
 (i) Fundamental Transaction Redemption by the Holder. Notwithstanding the provisions of Section 3(b) above, at the request of the Holder delivered at any time commencing on the earliest to
occur of (x) the public disclosure of any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act and the rules and regulations promulgated thereunder), other than
Gaiam, Inc. or Riverside Renewable Energy Investment LLC, becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and
outstanding Voting Stock of the Company (a “Change of Control”), (y) the consummation of any Change of Control and (z) the Holder first becoming aware of any Change of Control, through the date that

  
 13 

 
is twenty (20) days after the public disclosure of the consummation of such Fundamental Transaction by the Company pursuant to a Current Report on Form 8-K filed with the Securities and
Exchange Commission (“SEC”), the Company or the Successor Entity (as the case may be) shall purchase this Warrant from the Holder on the date of such request by paying to the Holder cash in an amount equal to the Black Scholes
Value. 
 (ii) Going Private Redemption by the Company. Notwithstanding the foregoing and the provisions
of Section 3(b) above, at any time after the date of the public disclosure of a Fundamental Transaction in which neither the Successor Entity nor its Parent Entity in such Fundamental Transaction is a publicly traded corporation with common
equity that is quoted on or listed for trading on an Eligible Market (a “Going Private Transaction”), the Company may, at its option, redeem this Warrant in full, not in part, from the Holder on the date of consummation of such
Going Private Transaction (the “Going Private Date”) by paying to the Holder cash in an amount equal to the Going Private Black Scholes Value (the “Going Private Redemption Amount”, and such redemption, a
“Going Private Redemption”). The Company may exercise its right to require redemption under this Section 3(c)(ii) by delivering an irrevocable written notice thereof by facsimile and overnight courier to all, but not less than
all, of the holders of SPA Warrants (the “Going Private Redemption Notice” and the date all of the holders of SPA Warrants received such notice is referred to as the “Going Private Redemption Notice Date”). The
Company may deliver only one Going Private Redemption Notice in any sixty (60) day period. The Going Private Redemption Notice shall (x) state the date on which the Going Private Redemption shall occur (the “Going Private
Redemption Date”) which date shall not be less than thirty (30) calendar days nor more than sixty (60) calendar days following the Going Private Redemption Notice Date and (y) state the Going Private Redemption Amount (with
back-up calculations) which is being redeemed in such Going Private Redemption from the Holder and all of the other holders of the SPA Warrants pursuant to this Section 3(c)(ii) (and analogous provisions under the other SPA Warrants) on the
Going Private Redemption Date. Until the Going Private Redemption Amount is paid in full, this Warrant may be exercised, in whole or in part, by the Holder into Common Stock pursuant to Section 1. In the event the Holder elects to exercise any
portion of this Warrant after the Going Private Redemption Notice Date, the Going Private Black Scholes Value of the portion so exercised shall be deducted from the Going Private Redemption Amount the Company shall pay to the Holder on the Going
Private Date. 
 (d) Application. The provisions of this Section 3 shall apply similarly and equally to successive
Fundamental Transactions and Corporate Events and shall be applied as if this Warrant (and any such subsequent warrants) were fully exercisable and without regard to any limitations on the exercise of this Warrant (provided that the Holder shall
continue to be entitled to the benefit of the Maximum Percentage, applied however with respect to shares of capital stock registered under the 
 (e) Exchange Act and thereafter receivable upon exercise of this Warrant (or any such other warrant)). 

  
 14 

 4. NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment
of its articles of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the
foregoing, the Company (i) shall not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall, in accordance with Section 1(g) above, so long as any of the Spa
Warrants are outstanding, take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting the exercise of the Spa Warrants, the maximum number of shares of Common
Stock as shall from time to time be necessary to effect the exercise of the Spa Warrants then outstanding (without regard to any limitations on exercise). 
 5. WARRANT HOLDER NOT DEEMED A SHAREHOLDER. Except as otherwise specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be entitled to vote or
receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in its capacity as the holder of this Warrant, any of the rights
of a shareholder of the company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of
meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant shares which it is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant
shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a shareholder of the Company, whether such liabilities are asserted by the Company or by creditors of the
Company. Notwithstanding this Section 5, the Company shall provide the Holder with copies of the same notices and other information (that are not filed with or furnished to the SEC) given to the shareholders of the Company generally,
contemporaneously with the giving thereof to the shareholders. 
 6. REISSUANCE OF WARRANTS. 

(a) Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon
the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 6(d)), registered as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred
by the Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 6(d)) to the Holder representing the right to purchase the number of Warrant Shares
not being transferred. 

  
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 (b) Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence
reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant (as to which a written certification and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or
destruction, of any indemnification undertaking by the Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new
Warrant (in accordance with Section 6(d)) representing the right to purchase the Warrant Shares then underlying this Warrant. 
 (c) Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for a new Warrant or Warrants (in accordance
with Section 6(d)) representing in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion of such Warrant Shares as is
designated by the Holder at the time of such surrender; provided, however, no warrants for fractional shares of Common Stock shall be given. 
 (d) Issuance of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of like tenor with this Warrant,
(ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 6(a) or Section 6(c), the
Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant),
(iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant. 

7. NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance
with Section 6.3 of the Securities Purchase Agreement. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description of such action and the reason
therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and
certifying, the calculation of such adjustment(s) and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the shares of Common
Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders of shares of Common Stock or (C) for determining rights to vote
with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder and (iii) at least
five (5) Trading Days prior to the consummation of any Fundamental Transaction. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of its Subsidiaries, the
Company shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K. It is expressly understood and agreed that the time of execution specified by the Holder in each Exercise Notice shall be definitive and may not be
disputed or challenged by the Company. 

  
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 8. AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant (other
than Section 1(f)) may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of all Holders of the then issued
and outstanding aggregate number of Shares and Warrant Shares; provided, however, with respect to any amendment that proposes to (i) decrease the number of shares into which this Warrant or the SPA Warrants, collectively, are exercisable into
or (ii) increase the exercise price of this Warrant or the SPA Warrants, collectively, the Company must also obtain the written consent of the Holder. The Holder shall be entitled, at its option, to the benefit of any amendment of any other SPA
Warrant. No consideration shall be offered or paid to the Holder to amend or consent to a waiver or modification of any provision of this Warrant unless the same consideration is also offered to all of the holders of the other SPA Warrants. No
waiver shall be effective unless it is in writing and signed by an authorized representative of the waiving party. 
 9. SEVERABILITY. If
any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to
apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or
unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). 
 10. GOVERNING LAW. This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this
Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of
any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the
Company’s obligations to the Holder or to enforce a judgment or other court ruling in favor of the Holder. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY
DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.  

  
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 11. CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and the
Holder and shall not be construed against any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant. Terms used in this Warrant but
defined in the other Transaction Documents shall have the meanings ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by the Holder. 

12. DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Exercise Price, the Closing Sale Price, the Bid Price or fair
market value or the arithmetic calculation of the number of Warrant Shares (as the case may be), the Company or the Holder (as the case may be) shall submit the disputed determinations or arithmetic calculations (as the case may be) via facsimile
(i) within two (2) Business Days after receipt of the applicable notice giving rise to such dispute to the Company or the Holder (as the case may be) or (ii) if no notice gave rise to such dispute, at any time after the Holder learned
of the circumstances giving rise to such dispute (including, without limitation, as to whether any issuance or sale or deemed issuance or sale was an issuance or sale or deemed issuance or sale of Excluded Securities). If the Holder and the Company
are unable to agree upon such determination or calculation (as the case may be) of the Exercise Price, the Closing Sale Price, the Bid Price or fair market value or the number of Warrant Shares (as the case may be) within three (3) Business
Days of such disputed determination or arithmetic calculation being submitted to the Company or the Holder (as the case may be), then the Company shall, within two (2) Business Days submit via facsimile (a) the disputed determination of
the Exercise Price, the Closing Sale Price, the Bid Price or fair market value (as the case may be) to an independent, reputable investment bank selected by the Company and reasonably acceptable to the Holder or (b) the disputed arithmetic
calculation of the number of Warrant Shares to the Company’s independent, outside accountant. The Company shall cause the investment bank or the accountant (as the case may be) to perform the determinations or calculations (as the case may be)
and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives such disputed determinations or calculations (as the case may be). Such investment bank’s or accountant’s
determination or calculation (as the case may be) shall be binding upon all parties absent manifest error. The loser of the dispute shall pay the fees and out of pocket expenses of such investment bank or accountant. 

13. REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and
in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the
Holder to pursue actual damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein.
Amounts set forth or provided for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other
obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations 

  
 18 

 
hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or
threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without any bond or other security being
required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions of this Warrant (including, without
limitation, compliance with Section 2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made without charge to the Holder or such shares for any issuance tax or other
costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than the Holder or its agent on its
behalf. 
 14. TRANSFER. This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company, except
as may otherwise be required by Section 2(e) of the Securities Purchase Agreement. 
 15. CERTAIN DEFINITIONS. For purposes of this
Warrant, the following terms shall have the following meanings: 
 (a) “Adjustment Right” means any right
granted with respect to any securities issued in connection with, or with respect to, any issuance or sale (or deemed issuance or sale in accordance with Section 2) of shares of Common Stock (other than rights of the type described in
Section 3 hereof) that could result in a decrease in the net consideration received by the Company in connection with, or with respect to, such securities (including, without limitation, any cash settlement rights, cash adjustment or other
similar rights). 
 (b) “Approved Stock Plan” means any employee benefit plan which has been approved by the
board of directors of the Company prior to or subsequent to the date hereof pursuant to which shares of Common Stock and standard options to purchase Common Stock may be issued to any employee, officer or director for services provided to the
Company in their capacity as such. 
 (c) “Bid Price” means, for any security as of the particular time of
determination, the bid price for such security on the Principal Market as reported by Bloomberg as of such time of determination, or, if the Principal Market is not the principal securities exchange or trading market for such security, the bid price
of such security on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg as of such time of determination, or if the foregoing does not apply, the bid price of such security in the
over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg as of such time of determination, or, if no bid price is reported for such security by Bloomberg as of such time of determination, the average of the
bid prices of any market makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC) as of such time of determination. If the Bid Price cannot be calculated for a security as of the
particular time of determination on any of the foregoing bases, the Bid Price of such security as of such time of determination shall be the fair market value as mutually determined by the 

  
 19 

 
Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in
Section 12. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period. 
 (d) “Black Scholes Consideration Value” means the value of the applicable Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance thereof
calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the Closing Sale Price of the Common Stock on the Trading Day immediately
preceding the public announcement of the execution of definitive documents with respect to the issuance of such Option or Convertible Security (as the case may be), (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a
period equal to the remaining term of such Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (iii) a zero cost of
borrow and (iv) an expected volatility equal to the lesser of 100% and the 100 day volatility obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the
date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be). 
 (e) “Black Scholes
Value” means the value of the unexercised portion of this Warrant remaining on the date of the Holder’s request pursuant to Section 3(c), which value is calculated using the Black Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg utilizing (i) an underlying price per share equal to the greater of (1) the highest Closing Sale Price of the Common Stock during the period beginning on the Trading Day immediately preceding the
announcement of the applicable Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s request pursuant to Section 3(c) and (2) the sum of the
price per share being offered in cash in the applicable Fundamental Transaction (if any) plus the value of the non-cash consideration being offered in the applicable Fundamental Transaction (if any), (ii) a strike price equal to the Exercise
Price in effect on the date of the Holder’s request pursuant to Section 3(c), (iii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the greater of (1) the remaining term of this Warrant as
of the date of the Holder’s request pursuant to Section 3(c) and (2) the remaining term of this Warrant as of the date of consummation of the applicable Fundamental Transaction or as of the date of the Holder’s request pursuant
to Section 3(c) if such request is prior to the date of the consummation of the applicable Fundamental Transaction, (iv) a zero cost of borrow and (v) an expected volatility equal to the lesser of 100% and the 100 day volatility
obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately prior to the date of the consummation of the applicable Fundamental Transaction. 

(f) “Bloomberg” means Bloomberg, L.P. 
 (g) “Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed. 

  
 20 

 (h) “Closing Sale Price” means, for any security as of any date, the last
closing trade price for such security on the Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such
security prior to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such security, the last trade price of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing does not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security
as reported by Bloomberg, or, if no last trade price is reported for such security by Bloomberg, the average of the ask prices of any market makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink
Sheets LLC). If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company
and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 12. All such determinations shall be appropriately
adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period. 
 (i)
“Common Stock” means (i) the Company’s shares of class A common stock, $0.0001 par value per share, and (ii) any capital stock into which such class A common stock shall have been changed or any share capital
resulting from a reclassification of such common stock. 
 (j) “Common Stock Deemed Outstanding” means, at any
given time, the number of shares of Common Stock actually outstanding at such time, but excluding any shares of Common Stock owned or held by or for the account of the Company. 
 (k) “Convertible Securities” means any stock or other security (other than Options) that is at any time and under any circumstances, directly or indirectly, convertible into, exercisable
or exchangeable for, or which otherwise entitles the holder thereof to acquire, any shares of Common Stock. 
 (l)
“Eligible Market” means The New York Stock Exchange, the NYSE MKT, the Nasdaq Global Select Market, the Nasdaq Global Market or the Principal Market. 
 (m) “Excluded Securities” means (i) shares of Common Stock or standard options to purchase Common Stock issued to directors, officers or employees of the Company in their capacity as
such pursuant to an Approved Stock Plan (as defined below), provided that (A) all such issuances (taking into account the shares of Common Stock issuable upon exercise of such options) after the date hereof pursuant to this clause (i) do
not, in the aggregate, exceed more than 10% of the Common Stock issued and outstanding immediately prior to the date hereof and (B) none of such options are amended to increase the number of shares issuable thereunder and none of the terms or
conditions of any such options are otherwise materially changed in any manner that adversely affects any of the Buyers; (ii) shares of Common Stock issued upon the conversion or exercise of Convertible Securities (other than standard options to
purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i) above) 

  
 21 

 
issued prior to the date hereof, provided that the conversion price of any such Convertible Securities (other than standard options to purchase Common Stock issued pursuant to an Approved Stock
Plan that are covered by clause (i) above) is not lowered, none of such Convertible Securities (other than standard options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i) above) are
amended to increase the number of shares issuable thereunder and none of the terms or conditions of any such Convertible Securities (other than standard options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by
clause (i) above) are otherwise materially changed in any manner that adversely affects any of the Buyers; (iii) the shares of Common Stock issuable upon exercise of the SPA Warrants as in effect as of the Closing Date, (iv) the
shares of Common Stock or Options issued in connection with strategic alliances, strategic partnerships, and merger and acquisition transactions, provided, that (A) the primary purpose of such issuance is not to raise capital as determined in
good faith by the Board of Directors of the Company, (B) the purchaser or acquirer of the securities in such issuance solely consists of either (x) the actual participants in such strategic alliance or strategic partnership, (y) the
actual owners of such assets or securities acquired in such merger and acquisition transactions, or (z) the shareholders, partners or members of the foregoing Persons, and (C) the number or amount of securities issued to such Person by the
Company shall not be disproportionate (as determined in good faith by the Board of Directors of the Company) to either (x) the fair market value of such Person’s actual contribution to such strategic alliance or strategic partnership or
(y) the proportional ownership of such assets or securities to be acquired by the Company, as applicable; (v) the shares of Common Stock or Options issued to financial institutions or lessors in connection with commercial credit
arrangements, equipment financings or similar transactions (excluding any shares of Common Stock issuable upon conversion or exercise of any Convertible Securities), and (vi) shares of Common Stock or Options issued to vendors to settle bona
fide trade liabilities. 
 (n) “Expiration Date” means the date that is the fifth (5th) anniversary of the Issuance Date or, if such date falls on a
day other than a Business Day or on which trading does not take place on the Principal Market (a “Holiday”), the next date that is not a Holiday. 
 (o) “Fundamental Transaction” means (i) a transaction or series of related transactions pursuant to which the Company, directly or indirectly (1) consolidates or merges with or
into (whether or not the Company is the surviving corporation) any other Person, or (2) sells, leases, licenses, assigns, transfers, conveys or otherwise disposes of all or substantially all of the Company’s properties or assets to any
other Person, determined on either a quantitative or qualitative basis, or (3) allows any other Person, other than Gaiam, Inc. or Riverside Renewable Energy Investment LLC, to make a purchase, tender or exchange offer that is accepted by the
holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party
to, such purchase, tender or exchange offer), or (4) consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any
other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or
associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or 

  
 22 

 
other business combination), or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act and the rules and
regulations promulgated thereunder) , other than Gaiam, Inc. or Riverside Renewable Energy Investment LLC, is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the
aggregate ordinary voting power represented by issued and outstanding Voting Stock of the Company. 
 (p) “Going Private
Black Scholes Value” means the value of the unexercised portion of this Warrant remaining on the Going Private Redemption Notice Date, which value is calculated using the Black Scholes Option Pricing Model obtained from the “OV”
function on Bloomberg utilizing (i) an underlying price per share equal to the greater of (1) the highest Closing Sale Price of the Common Stock during the period beginning on the Trading Day immediately preceding the announcement of the
applicable Going Private Transaction (or the consummation of the applicable Going Private Transaction, if earlier) and ending on the Going Private Redemption Notice Date and (2) the sum of the price per share being offered in cash in the
applicable Going Private Transaction (if any) plus the value of the non-cash consideration being offered in the applicable Going Private Transaction (if any), (ii) a strike price equal to the Exercise Price in effect on the Going Private
Redemption Notice Date, (iii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the greater of (1) the remaining term of this Warrant as of the Going Private Redemption Notice Date and (2) the
remaining term of this Warrant as of the Going Private Redemption Notice Date, (iv) a zero cost of borrow and (v) an expected volatility equal to the lesser of 100% and the 100 day volatility obtained from the HVT function on Bloomberg
(determined utilizing a 365 day annualization factor) as of the Trading Day immediately prior to the date of the consummation of the applicable Going Private Transaction. 
 (q) “Options” means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities. 

(r) “Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person and whose
common stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of
consummation of the Fundamental Transaction. 
 (s) “Person” means an individual, a limited liability company, a
partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity or a government or any department or agency thereof. 
 (t) “Principal Market” means The Nasdaq Capital Market. 
 (u)
“Registration Rights Agreement” means that certain registration rights agreement, dated as of the Closing Date, by and among the Company and the initial Holder relating to, among other things, the registration of the resale of the
shares of Common Stock issuable upon exercise of the SPA Warrants, as it may be amended from time to time. 

  
 23 

 (v) “Successor Entity” means the Person (or, if so elected by the Holder,
the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into. 

(w) “Trading Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market
is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded, provided that “Trading Day” shall not include any day on which the Common
Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate
in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated as a Trading Day in writing by the Holder. 

(x) “Voting Stock” of a Person means capital stock of such Person of the class or classes pursuant to which the holders
thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency). 
 (y) “VWAP”
means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the principal securities exchange
or securities market on which such security is then traded) during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “Volume at Price” function or, if the
foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00
p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the
market makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If VWAP cannot be calculated for such security on such date on any of the foregoing bases, the VWAP of such security on
such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the
procedures in Section 12. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period. 

[signature page follows] 

  
 24 

 IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to
be duly executed as of the Issuance Date set out above. 
  

			
	REAL GOODS SOLAR, INC.
		
	 By:
	 	 
		 	Name: Kamyar Mofid
		 	Title: Chief Executive Officer

 EXHIBIT A 
 EXERCISE NOTICE 
 TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE
THIS 
 WARRANT TO PURCHASE COMMON STOCK 
 REAL GOODS SOLAR, INC. 
 The undersigned holder hereby exercises the right
to purchase
                                         of the
shares of Common Stock (“Warrant Shares”) of Real Goods Solar, Inc., a Colorado corporation (the “Company”), evidenced by Warrant to Purchase Common Stock
No.                      (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant. 
 1. Form of Exercise Price. The Holder intends that payment of the Exercise Price
shall be made as: 
  

											
		 	  
  
	    	 a “Cash Exercise” with respect to

Warrant Shares; and/or
	 	  
  
	 	
					
		 	  
  
	    	 a “Cashless Exercise” with respect to

Warrant Shares.
	 	  
  
	 	

 In the event that the Holder has elected a Cashless Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the Holder hereby represents and warrants that (i) this Exercise Notice was executed by the Holder at
                     [a.m.][p.m.] on the date set forth below and (ii) if applicable, the Bid Price as of such time of execution of this
Exercise Notice was $        . 
 2. Payment of Exercise Price. In the event that
the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of
$                     to the Company in accordance with the terms of the Warrant. 

3. Delivery of Warrant Shares. The Company shall deliver to Holder, or its designee or agent as specified below,
                     Warrant Shares in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, to the
following address: 
  

							
		 		 	 	  	
				
		 		 	 	  	
				
		 		 	 	  	
				
		 		 	 	  	

  

			
	Date:                    
    ,          
	
	  

	Name of Registered Holder
		
	 By:
	 	 
		 	 Name:

Title:

 EXHIBIT B 
 ACKNOWLEDGMENT 
 The Company hereby acknowledges this Exercise Notice and
hereby directs                      to issue the above indicated number of shares of Common Stock in accordance with the Transfer Agent Instructions
dated                     , 20    , from the Company and acknowledged and agreed to by
                    . 
  

			
	REAL GOODS SOLAR, INC.
		
	 By:
	 	 
		 	 Name:

		 	 Title:

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