Document:

EX-4.8

 Exhibit 4.8 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE
OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT AND QUALIFIED OR EXEMPTED FROM QUALIFICATION UNDER ALL APPLICABLE BLUE SKY LAWS, OR, IN THE OPINION OF LEGAL COUNSEL SATISFACTORY TO THE ISSUER
OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR
INSTRUMENT ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT
THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SECURITIES. 
 THE
SECURITIES REPRESENTED BY THIS CERTIFICATE OR INSTRUMENT ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS FOLLOWING THE EFFECTIVE DATE OF A REGISTRATION STATEMENT OF THE COMPANY FILED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AS SET FORTH IN AN
AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. SUCH LOCK-UP PERIOD IS BINDING ON THE TRANSFEREES OF THESE SECURITIES. 

THE SHARES REPRESENTED BY THIS CERTIFICATE OR INSTRUMENT ARE SECURITY FOR CERTAIN INDEBTEDNESS OBLIGATIONS OF THE HOLDER PURSUANT TO THE TERMS OF A NOTE AND
SECURITY AGREEMENT BETWEEN THE HOLDER AND THE ISSUER. THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER PURSUANT TO THE TERMS OF THE AFOREMENTIONED AGREEMENTS. A COPY OF SUCH AGREEMENTS MAY BE
OBTAINED FROM THE COMPANY. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR INSTRUMENT ARE SECURITY FOR CERTAIN INDEMNIFICATION OBLIGATIONS OF THE
HOLDER ON THE TERMS SET FORTH IN AN AGREEMENT BETWEEN THE HOLDER AND THE ISSUER. THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER PURSUANT TO THE TERMS OF THE AFOREMENTIONED AGREEMENT. A COPY OF THE
AGREEMENT MAY BE OBTAINED FROM THE COMPANY. 
 THE HOLDER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE OR INSTRUMENT HAS AGREED TO WAIVE ANY RIGHTS TO
OBTAIN INFORMATION CONCERNING THE ISSUER, INCLUDING PURSUANT TO SECTION 220 OF THE DELAWARE GENERAL COPORATION LAW. SUCH WAIVER IS BINDING UPON ANY TRANSFEREE OF THESE SECURITIES AND A CONDITION TO TRANSFER OF THESE SECURITIES IS THE
TRANSFEREE’S AGREEMENT TO SUCH WAIVER. A COPY OF THE AGREEMENT MAY BE OBTAINED FROM THE COMPANY. 

 THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE SUBJECT TO FURTHER RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
HEREIN. 
 BLOOM ENERGY CORPORATION

AGREEMENT AND WARRANT TO PURCHASE COMMON STOCK 

Effective Date: June 27, 2014

Void After: June 26, 2019 

This Agreement and Warrant to Purchase Common Stock (this “Agreement” or “Warrant”) certifies
that, for value received, Dwight Badger (the “Holder”), is entitled, subject to the terms set forth below, to purchase from Bloom Energy Corporation, a Delaware corporation (the “Company”), the Warrant
Shares upon surrender of this Warrant, at the principal office of the Company referred to below, with the subscription form attached hereto as Exhibit A (the “Notice of Exercise”) duly executed, and simultaneous
payment therefor in lawful money of the United States (or otherwise as hereinafter provided) of the aggregate Exercise Price (as defined below). The Exercise Price and the number of Warrant Shares purchasable hereunder are subject to adjustment as
provided herein. 
 This Warrant has been issued pursuant to that certain Securities Acquisition Agreement, dated as of as of the Effective
Date set forth above, by and between the Company, Holder, and certain other parties (the “Confidential Agreement”) and that certain Securities Acquisition Agreement, dated as of the Effective Date, by and between the Company,
the Holder, and certain other parties (the “Securities Acquisition Agreement”) and this Warrant is subject to the Transfer Restrictions, the Indemnification Obligations, and the Security Obligations (each as defined in the
Securities Acquisition Agreement) and the other terms and conditions found in the Confidential Agreement and the Securities Acquisition Agreement. Capitalized terms not otherwise defined herein shall be given the meaning assigned to such term in the
Securities Acquisition Agreement. This Warrant and the Warrant Shares have been pledged as collateral for the payment and performance of certain obligations of the Holder under that certain Security Agreement of even date with the Confidential
Agreement (the “Security Agreement”). 
 1. Number of Shares. This Warrant may be exercised, in whole
or in part, for up to 25,000 shares of the Company’s Common Stock (the “Warrant Shares”). 
 2. Exercise
Price. The per share purchase price of the Warrant Shares (the “Exercise Price”) for which this Warrant may be exercised shall be $25.76. 

3. Exercise of Warrant.  

3.1 Time of Exercise. Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, at
any time or from time to time prior to 5:00 p.m. (Pacific Standard Time) on June 26, 2019 (the “Expiration Date”). Notwithstanding the foregoing, this Warrant shall terminate immediately prior to the consummation of a
Liquidation (as defined in the Securities Acquisition Agreement). The Company shall provide the Holder with the same notice of a Liquidation that the Company provides to its stockholders generally. 

  
 2 

 3.2 Method of Exercise. The exercise shall only be effected by (a) the surrender of the
original copy of this Warrant to the Company at the principal office of the Company as set forth in Section 11.4 (or such other office or agency of the Company as may be designated by notice in writing to the Holder at the address of the Holder
appearing on the books of the Company), (b) delivery of a notarized and executed Notice of Exercise and (c) unless payment of the Exercise Price is made pursuant to a “net exercise” as provided under Section 4 below, payment of the
Exercise Price in cash or by check acceptable to the Company. 
 3.3 Effect of Exercise. This Warrant (or the portion thereof
exercised) shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above, and the person entitled to receive the shares of Warrant Shares issuable upon such exercise
shall be treated for all purposes as the holder of record of such shares as of the close of business on such date. Subject to the terms of the Securities Acquisition Agreement, the Company, at its expense, shall, within five (5) business days after
exercise, issue and deliver to the person or persons entitled to receive the same a certificate or certificates for the number of shares issuable upon such exercise and, unless this Warrant shall have expired, a new warrant representing the right to
acquire the number of shares of Warrant Shares represented by the surrendered Warrant, if any, that shall not have been exercised shall also be delivered to the Holder. 

3.4 Duty to Deliver. Subject to the terms of the Securities Acquisition Agreement, each stock certificate issued upon exercise of
this Warrant (or issued upon conversion thereof), and issued in connection with adjustments under Section 10 hereof with respect to such shares, shall be immediately delivered to the Company and be held in escrow by the Company pursuant to the
provisions of Section 4 of the Securities Acquisition Agreement and pursuant to the provisions of Section 3 of the Security Agreement. Furthermore, any new, additional or different securities that may now or hereafter become distributable with
respect to any securities issued upon exercise of this Warrant by reason of any adjustment required by Section 10 of hereof or otherwise shall, upon receipt by the Holder, be promptly delivered to and deposited with the Company unless otherwise
deposited immediately into escrow by the Company according to the Securities Acquisition Agreement. The Holder shall provide with respect to each such certificate representing such securities one or more stock powers properly executed in blank
in the form attached to the Securities Acquisition Agreement. 
 3.5 Limitation on Exercise. Notwithstanding any other provision
of this Agreement, the Company’s obligation to issue Warrant Shares hereunder is subject to additional limitations set forth in Section 10 of the Confidential Agreement pursuant to which the Warrant Shares, if issued, stand as security for
certain indemnity obligations of the initial Holder, and pursuant to which the Company’s obligations to issue Warrant Shares hereunder may be cancelled in satisfaction of such obligations. 

4. Net Exercise. 

4.1 Net Issue Exercise. In lieu of exercising this Warrant via cash payment, the Holder may elect to receive shares equal to the value
of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the completed Notice of Exercise indicating the Holder’s election to exercise this Warrant by means of a
“net exercise,” in which event the Company shall issue to the Holder a number of shares of Common Stock computed using the following formula: 
  

	
	X = Y (A - B)
	             A

  

							
	Where	  	X	  	=	  	the number of Warrant Shares to be issued to the Holder.

  
 3 

							
				
		  	Y	  	=	  	the number of Warrant Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being cancelled (at the date of such calculation).
				
		  	A	  	=	  	the fair market value (as determined below) of one Warrant Share (at the date of such calculation).
				
		  	B	  	=	  	the Exercise Price (as adjusted to the date of such calculation).

 If the above calculation results in a negative number, then no shares of Warrant Shares shall be issued or
issuable upon conversion of this Warrant. 
 4.2 Fair Market Value. For purposes of this Section 4, the fair market value of one
Warrant Share shall be determined by the Company’s Board of Directors in good faith; provided, however, that where there exists a public market for the Warrant Shares at the time of such exercise, the fair market value per Warrant Share shall
be the average of the closing bid and asked prices of the Warrant Shares quoted in the Over-The-Counter Market Summary or the average of the high and low prices as reported by The Nasdaq National Market, the Nasdaq Small Cap Market or on any
exchange on which the Warrant Shares is listed, whichever is applicable, for the five (5) trading days prior to the date of the delivery of the Net Exercise Notice. 

5. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. In lieu of any fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction computed to the nearest whole cent. 

6. No Rights as Stockholder. The Holder shall not be entitled to vote or receive dividends or be deemed the holder of Warrant
Shares or any other securities of the Company that may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the
Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action or to receive notice of meetings, or to receive dividends or
subscription rights or otherwise, until the Warrant shall have been exercised as provided herein. 
 7. Transfer of Warrant.

 7.1 Transferability of Warrant. Holder agrees that this Warrant and the securities issuable upon exercise of this Warrant may not
be offered, sold, transferred or disposed of in any other way without the prior written consent of the Company. Notwithstanding the foregoing, this Warrant and the securities issuable upon exercise of this Warrant may be transferred to the heirs of
the Holder provided that such heirs assume all of the obligations of the Holder that are set forth in the Settlement Agreements (as defined in the Securities Acquisition Agreement).

7.2 Shares Issued Upon Exercise Subject to Transfer Restrictions. The securities issuable upon exercise of this Warrant shall be
subject to the Transfer Restrictions, the Indemnification Obligations, and the Security Obligations, as well as any other limitations set forth in the Securities Acquisition Agreement, and each transferee of this Warrant or the securities issuable
upon exercise of this Warrant, shall agree as a condition to any offer, sale, transfer, or disposition that this Warrant and/or any securities issuable upon exercise of this Warrant shall be bound by and subject to the terms of the Transfer
Restrictions, the Indemnification Obligations, and the Security Obligations, as well as such other limitations. 

  
 4 

 7.3 Transfer Procedures. Subject to the foregoing limitations and requirements, if
Holder desires to offer, sell, transfer or dispose of in any other way this Warrant or the securities issuable upon exercise of the Warrant, Holder shall comply with the procedures set forth in Section 3.1(b) of the Securities Acquisition
Agreement. Prior to a permitted transfer, the Company shall treat the Holder hereof as the owner and Holder of this Warrant and Company shall not be affected by notice to the contrary. 

7.4 Register. The Company will maintain a register (the “Warrant Register”) containing the name and address of
the Holder. The Holder of this Warrant may change its address as shown on the Warrant Register by written notice to the Company requesting such change. Any notice or written communication required or permitted to be given to the Holder may be
delivered or given by mail to the Holder as shown on the Warrant Register and at the address shown on the Warrant Register. 
 8.
Representations and Warranties of the Holder and Restrictions on Transfer Imposed. 
 8.1 Representations and Warranties by
the Holder. In order to induce the Company to issue this Warrant to the original Holder, the original Holder has made representations and warranties to the Company as set forth in the Securities Acquisition Agreement, which are incorporated
herein by reference. 
 8.2 Legends. The Holder agrees that it will not offer, sell or otherwise dispose of this Warrant or any
Warrant Shares to be issued upon exercise hereof except under circumstances which will not result in a violation of the Securities Act or any state securities law. This Warrant and all Warrant Shares issued upon exercise of this Warrant shall be
stamped or imprinted with legends in substantially the forms set forth at the top of this Warrant.     
 9. Lost
Documents. Upon receipt by the Company of evidence and indemnity satisfactory to it of the loss, theft, destruction or mutilation of, and upon surrender and cancellation of this Warrant, if mutilated, the Company will make and deliver to the
Holder, in lieu of this Warrant, a new Warrant of the same series and of like tenor of this Warrant. 
 10. Adjustments. The
number of shares purchasable hereunder are subject to adjustment from time to time as follows: 
 10.1 Reorganization, Reclassification.
Merger or Conveyance. If any capital reorganization or reclassification or merger or conveyance of the capital stock of the Company shall be effected in such a way that holders of Warrant Shares shall be entitled to receive stock, securities or
assets with respect to or in exchange for Warrant Shares, then, as a condition of such reorganization, reclassification, merger or conveyance, lawful and adequate provisions shall be made whereby the Holder of the Warrant shall thereafter have the
right to receive upon the basis and upon the terms and conditions specified herein and in lieu of the shares of Warrant Shares immediately theretofore receivable upon the exercise of the Warrant, such shares of stock, securities or assets (including
cash) as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Warrant Shares equal to the number of shares of such stock immediately theretofore so receivable, had such reorganization, reclassification,
merger or conveyance not taken place, and in any such case appropriate provision shall be made with respect to the rights and interests of such holder to the end that the provisions hereof (including, without limitation, provisions for adjustments
of the Exercise Price) shall thereafter be applicable, as nearly as may be, in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise of such exercise rights. 

  
 5 

 10.2 Split, Subdivision or Combination of Shares. If the Company at any time while this
Warrant, or any portion thereof, remains outstanding and unexpired shall split, subdivide or combine the securities as to which purchase rights under this Warrant exist, into a different number of securities of the same class, the Exercise Price for
such securities shall be proportionately decreased in the case of a split or subdivision or proportionately increased in the case of a combination and the number of the securities as to which purchaser rights under this Warrant exist shall be
increased or decreased proportionately in accordance with such split subdivision or combination. 
 10.3 Certificate as to
Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 10, the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Secretary
of the Company for filing in the Company’s records and to the Holder a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The Company shall, upon the
written request, at any time, of the Holder, furnish or cause to be furnished to the Holder a like certificate setting forth: (a) such adjustments and readjustments; (b) the Exercise Price at the time in effect; and (c) the number of shares and the
amount, if any, of other property that at the time would be received upon the exercise of the Warrant. No such adjustment or change shall compel immediate exercise of this Warrant or otherwise affect the Expiration Date of this Warrant. Irrespective
of any adjustment or other changes made hereunder, this Warrant (or any other warrant issued in exchange therefor) may continue to express the same number and kind of Warrant Shares (except to the extent exercised) and the same Exercise Price as are
initially stated herein. 
 11. General Provisions. 

11.1 Governing Law. The validity, interpretation, performance, and enforcement of this Warrant, as well as any other rights,
obligations or liabilities otherwise related to the subject matter of this Warrant, shall be governed by and construed under the internal laws of the State of California as applied to agreements among California residents entered into and to be
performed entirely within California, without reference to principles of conflict of laws or choice of laws. 
 11.2 Survival. The
representations, warranties, covenants and agreements made herein shall survive the execution of this Agreement and the exercise of this Warrant. 

11.3 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. The Company may assign any of its rights and obligations under this Warrant. Except as set forth in Section 7.1, the Holder may not assign,
whether voluntarily or by operation of law, any of its rights and obligations under this Warrant, unless the Company provides prior written consent. 

11.4 Notices, etc. Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will
be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (a) at the time of personal delivery, if delivery is in person; (b) one (1) business day after deposit
with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States; or (c) three (3) business days after deposit in the United States mail by certified mail (return
receipt requested) for United States deliveries. All notices for delivery outside the United States will be sent by express courier. All notices not delivered personally will be sent with postage and/or other charges prepaid and properly
addressed to the party to be notified at the address set forth below the signature lines of this Agreement or at such other address as such other party may designate by one of the indicated means of notice herein to the other party hereto. A
“business day” shall be a day, other than Saturday or Sunday, when the banks in the city of San Francisco are open for business. 

  
 6 

 11.5 Amendments. This Warrant may be amended and the observance of any term of this
Warrant may be waived only with the written consent of the Company and the Holder. No delay or failure to require performance of any provision of this Warrant shall constitute a waiver of that provision as to that or any other instance. No
waiver granted under this Warrant as to any one provision herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual performance
specifically waived. 
 11.6 Arbitration. Any dispute or controversy of any kind between the parties hereto, whether arising out of,
relating to or concerning any interpretation, construction, performance or breach of this Agreement, or otherwise, shall be settled by confidential arbitration to be held in Santa Clara, California in accordance with the commercial dispute rules
then in effect of the American Arbitration Association. The Arbitrator may grant injunctions or other relief in such dispute or controversy. Judgment may be entered on the Arbitrator’s decision in any court having jurisdiction. The Company and
the Holder shall each be responsible for one half of the costs and expenses of such arbitration, and each shall separately pay its counsel fees and expenses; provided, however, in the event of a determination by the Arbitrator which is adverse to
the Company or the Holder, as the case may be, the non-prevailing party shall be responsible for all of the costs and expenses of such arbitration, and for all of the counsel fees and expenses of the Company or the Holder relating thereto. For
purposes of any action arising out of the application, interpretation or alleged breach of this Agreement, each of the parties hereto waives any statutory or common law principle, and any judicial interpretation of this Agreement, which would create
a presumption against any party hereto as a result of such party having drafted any provision of this Agreement. Counsel for the respective parties have reviewed and revised this Agreement, and there shall not be applied any rule construing
ambiguities against the drafting party. 
 11.7 Severability. If any provision of this Warrant is determined by any court or
arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so
enforced, such provision shall be stricken from this Warrant and the remainder shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in such agreement. 

11.8 Counterparts. This Agreement may be executed in any number of counterparts each of which shall be an original, but all of which
together shall constitute one instrument. This Warrant may be executed and delivered by facsimile or other means of electronic delivery and upon such delivery the signature will be deemed to have the same effect as if the original signature had
been delivered to the other party. 
 *** 

  
 7 

 IN WITNESS WHEREOF, the Company and the Holder have caused the Warrant to be executed by a
duly authorized officer thereof as of the effective date of this Warrant set forth above. 
  

					
	BLOOM ENERGY CORPORATION
		
	By:	 	/s/ William H. Kurtz
		 	  

		 	Name:	 	William H. Kurtz
		 	Title:	 	Chief Financial Officer and Secretary

  

			
	AGREED AND ACCEPTED:
	
	DWIGHT BADGER
		
	By:	 	/s/ Dwight O. Badger
		 	  

		
	Name:	 	 Dwight O. Badger

		
	Title:	 	  

		
	Address:	 	      

		
		 	      

 [SIGNATURE PAGE TO COMMON STOCK WARRANT] 

 EXHIBIT A 

NOTICE OF EXERCISE 
  

	To:	BLOOM ENERGY CORPORATION 

 We refer to that certain Agreement and Warrant to Purchase
Common Stock (the “Warrant”). Capitalized terms not otherwise defined herein shall be given the meaning assigned to such term in the Warrant. 

(1) Cash Exercise: The undersigned hereby elects to
purchase                shares of Common Stock (“Warrant Shares”) of Bloom Energy Corporation pursuant to the terms of the Warrant, and tenders
herewith payment of the Exercise Price for such shares in full at the price per share provided in the Warrant and the attached signed and Stock Power and Assignment Separate from Stock Certificate. 

Net Exercise Election: The undersigned hereby elects to convert the Warrant into shares of Common Stock (“Warrant
Shares”) by net exercise election pursuant to the terms of the Warrant and tenders herewith the attached signed and Stock Power and Assignment Separate from Stock Certificate. This conversion is exercised with respect
to                of the Warrant Shares covered by the Warrant. 

(2) The undersigned hereby confirms and acknowledges that
  

	 	a.	The representations and warranties set forth in Section 2 of the Securities Acquisition Agreement as they apply to the undersigned Holder continue to be true and complete as of this date with the same effect as when
they were made on and as of the Effective Date (as defined in the Securities Acquisition Agreement). 

  

	 	b.	The undersigned Holder has performed and complied with, and has not breached any of, the terms, agreements, obligations and conditions of the Settlement Agreements (as defined in the Securities Acquisition Agreement).

  

	 	c.	The undersigned Holder hereby agrees, confirms, and acknowledge that the Warrant Shares being issued to me on the date hereof is subject to the Transfer Restrictions, the Indemnification Obligations, the Security
Obligations, the other restrictions set forth in the Securities Acquisition Agreement the terms of the Note and Security Agreement, and applicable law. 

(4) Please issue a certificate or certificates representing said shares of Warrant Shares in the name of the undersigned or in such other name
as is specified below, with the understanding that such certificate shall be withheld by the Company in accordance with Section 4 of the Securities Acquisition Agreement. 

 

	
	DWIGHT BADGER
	
	  

	 Print Name

	
	  

	Signature
	
	  

	Date

 Stock Power And Assignment 

Separate From Stock Certificate 

FOR VALUE RECEIVED and pursuant to that certain Warrant to Purchase Common Stock, dated as
of                    (the “Agreement”), the undersigned hereby sells, assigns and transfers
unto                                        
,                shares of the Common Stock of Bloom Energy Corporation, a Delaware corporation (the “Company”), standing in the
undersigned’s name on the books of the Company represented by Certificate No(s).        delivered herewith, and does hereby irrevocably constitute and appoint the Secretary of the Company as the
undersigned’s attorney-in-fact, with full power of substitution, to transfer said stock on the books of the Company. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY EXHIBITS THERETO. 

 

			
	Dated:	 	  

	
	/s/ Dwight Badger
	  

	(Signature)
	
	 Dwight Badger

	(Please Print Name)

 Instruction: Please do not fill in any blanks other than the signature line. The purpose of this Stock
Power and Assignment is to enable the Company and/or its assignee(s) to acquire the shares upon exercise of its rights under applicable agreements between the Company and Holder without requiring additional signatures on the part of Holder.EX-4.9

 Exhibit 4.9 
  

 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
AS AMENDED (the “1933 ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD. OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO YOU THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT. OR ANY APPLICABLE STATE SECURITIES LAWS. 
 PLAIN ENGLISH
WARRANT AGREEMENT 
 This is a PLAIN ENGLISH WARRANT AGREEMENT dated December 31, 2010 by and between BLOOM ENERGY CORPORATION, a Delaware
corporation, and TRIPLEPOINT CAPITAL LLC, a Delaware limited liability company. 
 The words “We”, “Us”, or “Our” refer to the
warrant holder, which is TRIPLEPOINT CAPITAL LLC. The words “You” or “Your” refers to the issuer, which is BLOOM ENERGY CORPORATION, and not to any individual. The words “the Parties” refers to both TRIPLEPOINT CAPITAL
LLC and BLOOM ENERGY CORPORATION. This Plain English Warrant Agreement may be referred to as the “Warrant Agreement”. 
 The Parties have entered
into a Plain English Master Lease Agreement dated as of December 31, 2010, and related Software or Hardware Facility Schedules and Summary Schedules which are collectively referred to in this Warrant Agreement as the “Lease
Agreement”. 
 In consideration of such Lease Agreement, the Parties agree to the following mutual agreements and conditions set forth below: 

 

					
	WARRANT INFORMATION
			
	Effective Date 	  	Warrant Number 	  	Lease Facility Schedules 
			
	December 31, 2010	  	0674-W-01	  	0674-LE-01H/-01S

  

							
	 Warrant
Coverage
	  	 Number of
Shares
	  	
Price Per Share
	  	 Type of
Stock

				
	 $300,000 (3% of $10,000,000); additional warrant coverage as set forth in Section 1.
	  	 16,198; plus additional shares as set forth in Section 1. The Number of Shares is subject to adjustment as set
forth in this Warrant Agreement.
	  	 $18.52 subject to adjustment as set forth in this Warrant Agreement
	  	 Series F Preferred Stock; subject to the provisions of Section 1.

  

					
		  	OUR CONTACT INFORMATION	  	
			
	 Name
	  	 Address For
Notices
	  	 Contact
Person

			
	 TriplePoint Capital LLC
	  	 2755 Sand Hill Road, Ste. 150

Menlo Park, CA 94025
 Tel: (650)
854-2090
 Fax: (650) 854-1850
	  	 Sajal Srivastava, COO

Tel: (650) 233-2102
 Fax: (650)
854-1850
 email: legal@triplepointcapital.com

			
		  	YOUR CONTACT INFORMATION	  	
			
	 Customer
Name
	  	 Address For
Notices
	  	 Contact
Person

			
	 Bloom Energy Corporation
	  	 1252 Orleans Drive

Sunnyvale, CA 94089
	  	 William Kurtz, CFO

Tel: (408) 543-1550
 Fax: (408)
543-1501
 email: wkurtz@bloomenergy.com

  
 1 

	1.	WHAT YOU AGREE TO GRANT US 

 You grant to Us and We are entitled, upon the terms and subject to the
conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to Three Hundred Thousand Dollars ($300,000),
divided by the Exercise Price (rounded down to the nearest whole share). 
 In addition, You grant to Us and We are entitled, upon the terms and subject to
the conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, an additional number of fully paid and non-assessable shares of Your Warrant Stock (rounded down to the nearest whole share)
equal to: 
  

	 	Þ	 	one-half percent (0.5%) of any amounts leased under Part 1 of the Lease Agreement, divided by the Exercise Price, if You choose Option B for such leased Equipment; or 

 

	 	Þ	 	one percent (1.0%) of any amounts leased under Part 1 of the Lease Agreement, divided by the Exercise Price, if You choose Option C for such leased Equipment. 

The number of shares of Warrant Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof. 

For purposes of this Warrant Agreement, the following capitalized terms have the meanings given below: 

“Exercise Price” means the lower of (a) $18.52 and (b) the lowest per share price for which Your preferred stock is sold in the Next
Round. 
 “Next Round” means the next bona fide round of equity financing in which You issue and sell shares of your preferred
stock for aggregate gross cash proceeds of at least $1,000,000 (excluding any amounts received upon conversion or cancellation of indebtedness) subsequent to the Effective Date. 

“Warrant Stock” means (a) the class and series of Your preferred stock issued in the Next Round, if the lowest per share price for
which such preferred stock is sold in the Next Round is less than $18.52, or (b) in all other cases, Your Series F Preferred Stock. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next Round then this Warrant Agreement
shall be exercisable for Your Series F Preferred Stock. 
 The Parties agree that this Warrant Agreement to purchase the Warrant Stock has a fair market
value equal to $100 and that $100 of the issue price is included as part of the leased value and will be allocable to the Warrant Agreement and the original issue discount on the Lease Agreement shall be considered to be zero. 

 

	2.	WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK. 

 The term of this Warrant Agreement and our right
to purchase Warrant Stock will begin on the Effective Date, and shall be available for a period of ten (10) years up to and including December 31, 2020. 

Notwithstanding the foregoing, Our right to purchase the Warrant Stock shall be automatically and fully exercised via the net issuance method described below
(without surrender of the Warrant Agreement) upon the occurrence of a Merger Event, as defined below, with a Person that is not one of Your affiliates, in which Your common stock is exchanged for cash and/or stock that is traded on a recognized
public exchange or on the NASDAQ National Market, provided that, upon consummation of the Merger Event, the consideration payable to Us pursuant to such exercise and on account of the Warrant Stock consists of (i) cash or (ii) stock that is traded
on a recognized public exchange or on the NASDAQ National Market. No less than ten (10) business days prior to any Merger Event, You shall provide Us with written notice of the proposed Merger Event together with a copy of the executed merger
agreement, or other definitive documentation (and all schedules and exhibits thereto) and information concerning Your expected capitalization immediately prior to the Merger Event. Upon consummation of the Merger Event, You shall promptly provide Us
with (a) a copy of any modifications or amendments to the executed merger agreement, (b) any other documents in connection therewith, (c) updated information, if any, concerning Your capitalization immediately prior to the Merger Event, and, (d)
upon request, by Us any other information reasonably necessary to an informed evaluation of Our rights under this Agreement. 

  
 2 

	3.	HOW WE MAY PURCHASE YOUR WARRANT STOCK. 

 We may exercise Our purchase rights, in whole or in part, at
any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by giving You a completed and executed Notice of Exercise in the form attached as Exhibit I. Promptly upon receipt of the Notice of Exercise and in
any event no later than twenty-one (21) days after you have received Our Notice of Exercise and payment of the aggregate Exercise Price for the shares purchased, You will issue to Us a certificate for the number of shares of Warrant Stock that We
have purchased and You will execute the Acknowledgment of Exercise in the form attached hereto as Exhibit II indicating the number of shares which will be available to Us for future purchases, if any. 

We may pay for the Warrant Stock by either (i) cash or check, or (ii) by the net issuance method as determined below. If We elect the Net Issuance method, You
will issue Warrant Stock using the following formula: 
  

					
	X	  	=	 	Y(A-B)
		  		 	    A

  

			
	Where:   X =	  	the number of shares of Warrant Stock to be issued to Us.
	Y =	  	the number of shares of Warrant Stock We request to be exercised under this Warrant Agreement.
	A =	  	the fair market value of one share of Warrant Stock.
	B =	  	the Exercise Price.

 For purposes of the above calculation, current fair market value of Warrant Stock shall mean with respect to each share of
Warrant Stock: 
 If the exercise is in connection with the initial public offering of Your Common Stock, and if Your registration statement relating
to such public offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public” specified in the final prospectus of the offering and (y) the number of shares
of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise; 
 If this Warrant Agreement is exercised after, and
not in connection with Your initial public offering, and: 
  

	Þ	 	if traded on a securities exchange, the fair market value shall be the product of (x) the average of the closing prices over a five (5) day period ending three (3) days before the day the current fair market value of
the securities is being determined and (y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise; or 

 

	Þ	 	if actively traded over-the-counter, the fair market value shall be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the five (5) day period ending
three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise. 

If this Warrant Agreement is exercised prior to or after Your initial public offering, and: 

 

	Þ	 	Your Common Stock is not listed on any securities exchange or the over-the-counter market, the current fair market value of Warrant Stock shall be the product of (x) the fair market value of a share of Your Common Stock
(the highest price per share which You could obtain from a willing buyer (not a current employee or director) for shares of Common Stock sold, from authorized but unissued shares), as determined in good faith by Your Board of Directors and (y) the
number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise, unless You shall become subject to a merger, acquisition or other consolidation pursuant to which You are not the surviving party,
in which case the fair market value of Warrant Stock shall be deemed to be the value received by the holders of Your Warrant Stock on a common equivalent basis pursuant to such merger or acquisition or other consolidation. 

  
 3 

 During the term of this Warrant Agreement, You will at all times from and after the Effective Date have
authorized and reserved a sufficient number of shares of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and (b) Common Stock to provide for the conversion of the Warrant Stock. 

If We elect to exercise part of the Warrant Agreement, You will promptly issue to Us an amended Warrant Agreement stating the remaining number of shares that
are available. All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement. 
 If at
the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the exercise hereof) as determined in accordance herewith is greater than the Exercise Price in effect on such date,
then this Warrant Agreement shall automatically be deemed on and as of such date to be converted pursuant hereto as to all shares of Warrant Stock (or such other securities) for which it shall not previously have been exercised or converted, and You
shall promptly deliver a certificate representing the shares of Warrant Stock (or such other securities) issued upon such conversion to Us. 
  

	4.	WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE. 

  

	Þ	 	If You are Acquired. If at any time: (i) there is a reorganization of Your stock (other than a reclassification, exchange or subdivision of Your stock otherwise provided for in this Warrant Agreement); (ii) You
merge or consolidate with or into another entity, whether or not You are the surviving entity; or (iii) there occurs any transaction or series of related transactions that result in the transfer of fifty percent (50%) or more of the outstanding
voting power of the capital stock of You (each of the foregoing events are referred to as a “Merger Event”), then, as a part of such Merger Event, lawful provision shall be made so that We shall thereafter be entitled to receive, upon
exercise of Our rights under this Warrant Agreement, the number of shares of preferred stock or other securities of the successor or surviving person resulting from such Merger Event, equal in value to that which would have been issuable if We had
exercised Our rights under this Warrant Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in good faith by Your Board of Directors) shall be made in the application of the provisions of this
Warrant Agreement with respect to Our rights and interest after the Merger Event so that the provisions of this Warrant Agreement (including adjustments of the Exercise Price and number of shares of Warrant Stock purchasable) shall be applicable to
the greatest extent possible. 

  

	Þ	 	If You Reclassify Your Stock. If at any time You combine, reclassify (including by conversion of outstanding preferred stock), exchange or subdivide Your securities or otherwise, change any of the securities as
to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes, this Warrant Agreement will thereafter represent the right to acquire such number and kind of securities as
would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other
change. 

  

	Þ	 	If You Subdivide or Combine Your Shares. If at any time You combine or subdivide the Warrant Stock, the Exercise Price will be proportionately decreased in the case of a subdivision, or proportionately increased
in the case of a combination. 

  

	Þ	 	If You Pay Stock Dividends. If at any time You pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in the above paragraphs) of the Warrant Stock, then the
Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which
shall be the total number of all shares of the Warrant Stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the total number of all shares of the Warrant Stock outstanding immediately after
such dividend or distribution. We will thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock (rounded down to the nearest whole share) obtained by multiplying the Exercise
Price in effect immediately prior to such adjustment by the number of shares of Warrant Stock issuable upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such
adjustment. 

  

	Þ	 	 If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible Stock.
All antidilution rights applicable to the Warrant Stock purchasable under this Warrant Agreement are as set forth in Your 

  
 4 

	 	 
Certificate of Incorporation, as amended through the Effective Date. You will promptly provide Us with any restatement, amendment, modification of or waiver of any right related to the Warrant
Stock under Your Certificate of Incorporation. You will provide Us with written notice of any issuance of Your stock or other equity security to occur after the Effective Date (other than issuances of stock or equity securities pursuant to customary
employee stock plans) that triggers the antidilution rights applicable to the Warrant Stock, which notice shall include (a) the price at which such stock or security was sold, (b) the number of shares issued, and (c) such other information as
necessary for Us to determine that a dilutive event has occurred as a result of such issuance. 

  

	Þ	 	If You Lease More Than the Commitment Amounts Under the Lease Agreement. If the total cost of equipment leased pursuant to the Lease Facility Schedules exceeds $10,000,000 under the Part 1 Commitment Amount, We
will have the right to purchase from You, at the Exercise Price (adjusted as set forth herein), an additional number of shares of Warrant Stock, which number shall be determined by (i) multiplying the amount by which the equipment cost financed
under the Lease Facility Schedules exceeds $10,000,000 under the Part 1 Commitment Amount by 3% for Option A, 3.5% for Option B or 4.0% for Option C and (ii) dividing the product by the Exercise Price per share referenced in Section I above. For the
avoidance of doubt, We will not be entitled to purchase Warrant Stock from You as a result of any amounts leased under Part II of the Lease Agreement, except as set forth in a separate warrant agreement that is executed by both Parties.

  

	5.	WE CAN TRANSFER THIS PLAIN ENGLISH WARRANT AGREEMENT. 

 Subject to the terms and conditions contained in
Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and all its rights. We agree not to transfer this Warrant Agreement to a competitor of You as determined in good faith by Your board of directors.
You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit III, and Our payment of all transfer taxes and other governmental charges involved in such transfer. 

 

	6.	REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU. 

  

	Þ	 	Reservation of Warrant Stock. The Warrant Stock issuable upon exercise of Our rights under this Warrant Agreement will be duly and validly reserved and when issued in accordance with the provisions of this
Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, however, that the Warrant Stock issuable pursuant to this Warrant Agreement
may be subject to restrictions on transfer under state and/or Federal securities laws or the Registration Rights Agreement. Upon Our exercise, You will issue to Us certificates for shares of Warrant Stock without charging Us any tax (except as may
be required by applicable law), or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock. You will not be required to pay any tax, which may be payable in respect of any transfer involved and
the issuance and delivery of any certificate in a name other than TriplePoint Capital LLC. 

  

	Þ	 	Due Authority. Your execution and delivery of this Warrant Agreement and the performance of Your obligations hereunder, including the issuance to Us of the right to acquire the shares of Warrant Stock, have been
duly authorized by all necessary corporate action on Your part and this Warrant Agreement is not inconsistent with Your Certificate of Incorporation or Bylaws, does not contravene any law or governmental rule, regulation or order applicable to it,
do not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which You are a party or by which You are bound, and this Warrant Agreement constitutes a legal, valid and
binding agreement, enforceable in accordance with its respective terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance,
injunctive relief and other equitable remedies. 

  
 5 

	Þ	 	Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of any other action in respect of any state, Federal or other governmental authority or agency is required with
respect to execution, delivery and Your performance of Your obligations under this Warrant Agreement, except for the filing of any required notices pursuant to Federal and state securities laws, which filings will be effective by the times required
thereby. 

  

	Þ	 	Issued Securities. All of Your issued and outstanding shares of Common Stock, Warrant Stock or any other securities have been duly authorized and validly issued and are fully paid and nonassessable. All
outstanding shares of Common Stock and Warrant Stock were issued in full compliance with all Federal and state securities laws. In addition as of the Effective Date: 

Your authorized capital consists of (i) 105,608,000 shares of Common Stock, of which 12,027,455 shares of Common Stock are issued and outstanding, (ii)
14,100,000 shares of Series A Preferred Stock, of which 13,650,000 shares are issued and outstanding, (iii) 12,150,000 shares of Series B Preferred Stock, of which 11,803,284 shares are issued and outstanding, (iv) 9,000,000 shares of Series C
Preferred Stock, of which 8,968,604 shares are issued and outstanding, (v) 10,700,000 shares of Series D Preferred Stock, of which 9,481,998 shares are issued and outstanding, (vi) 16,500,000 shares of Series E Preferred Stock, of which 11,342,180
shares are issued and outstanding, and (vii) 19,908,000 shares of Series F Preferred Stock, of which 18,061,055 shares are issued and outstanding. 
 You
have reserved 14,493,334 shares of Common Stock for issuance under Your Stock Incentive Plan, under which 7,264,503 options have been granted and are currently outstanding. You have warrants outstanding to purchase up to 424,342 shares of Series A
Preferred Stock, 183,748 shares of Series D Preferred Stock, 4,468,854 shares of Series E Preferred Stock and 263,261 shares of Series F Preferred Stock. Except as otherwise provided in this Warrant Agreement and as noted above, there are no other
options, warrants, conversion privileges or other rights presently outstanding to purchase or otherwise acquire any authorized but unissued shares of Your capital stock or other of Your securities. 

Except as set forth in Your Eighth Amended and Restated Stockholders’ Rights Agreement dated as of October 29, 2010 (the “Stockholders’
Agreement”), a true, correct and complete copy of which has been delivered to Us prior to the issuance of this Warrant, Your stockholders do not have preemptive rights to purchase new issuances of Your capital stock. 

 

	Þ	 	Other Commitments to Register Securities. Except as set forth in this Warrant Agreement and the Registration Rights Agreement, You are not, pursuant to the terms of any other agreement currently in existence,
under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities which may hereafter be issued. 

  

	Þ	 	Exempt Transaction. Subject to the accuracy of Our representations in Section 7 hereof, the issuance of the Warrant Stock upon exercise of this Warrant Agreement will constitute a transaction exempt from (i) the
registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws. 

 

	Þ	 	Compliance with Rule 144. We may sell the Warrant Stock issuable hereunder in compliance with Rule 144 promulgated by the Securities and Exchange Commission, subject to the lock-up agreement in Section 7 and the
satisfaction of the requirements of Rule 144. Beginning on the expiration of the lock-up agreement in Section 7 and so long as You remain subject to the periodic reporting requirements under Section 13 or 15(d) of the 1933 Act, within ten (10) days
of Our request, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission as set forth in such Rule 144, as may be amended. 

 

	Þ	 	No Impairment. You agree not to, by amendment of Your Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger, 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 to be observed or performed under this Warrant by You, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant and
in taking all such action as may be necessary or appropriate to protect Our rights under this Warrant against impairment. However, You shall not be deemed to have impaired Our rights if You amend Your Certificate of Incorporation, or the holders of
Your preferred stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other actions being taken in connection with such amendments or waivers) affect Us in a manner different from the
effect that such amendments or waivers have on the rights of other holders of the same series and class as the Warrant Stock. 

  
 6 

	7.	OUR REPRESENTATIONS AND COVENANTS TO YOU. 

  

	Þ	 	Investment Purpose. The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise of Our rights contained herein and the Common Stock issuable upon conversion will be acquired for investment
purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any public distribution of the same in violation of the 1933 Act. 

 

	Þ	 	Private Issue. We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon exercise of this Warrant Agreement and the Common Stock issuable upon conversion of the Warrant Stock are not
registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant Agreement will be exempt from the registration and qualifications requirements thereof, and (ii) that Your
reliance on such exemption is predicated on the representations set forth in this Section 7. 

  

	Þ	 	Disposition of Our Rights. In no event will We make a disposition of any of Our rights to acquire Warrant Stock or Warrant Stock issuable upon exercise of such rights or the Common Stock issuable upon conversion
of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the transferee agrees to be bound in writing to the applicable terms and conditions of this Warrant Agreement, and (iii) if You
request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that (A) appropriate action necessary for compliance with the 1933 Act has been taken, or (B) an exemption from the registration
requirements of the 1933 Act is available. Notwithstanding the foregoing, the restrictions imposed upon the transferability of any of Our rights to acquire Warrant Stock or Warrant Stock issuable on the exercise of such rights or the Common Stock
issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular share of
Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold by the holder thereof in accordance with such registration or (2) such security shall have been sold without registration in compliance with Rule
144 under the 1933 Act, or (3) a letter shall have been issued to You at Our request by the staff of the Securities and Exchange Commission or a ruling shall have been issued to the You at Our request by such Commission stating that no action shall
be recommended by such staff or taken by such Commission, as the case may be, if such security is transferred without registration under the 1933 Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling
specifies that no subsequent restrictions on transfer are required. Whenever the restrictions imposed hereunder shall terminate, as hereinabove provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have
terminated shall be entitled to receive from You, without expense to such holder, one or more new certificates for the Warrant or for such shares of Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption.

  

	Þ	 	Financial Risk. We have such knowledge and experience in financial and business matters and knowledge of Your business affairs and financial condition as to be capable of evaluating the merits and risks of Our
investment, and have the ability to bear the economic risks of Our investment. 

  

	Þ	 	Risk of No Registration. We understand that if You do not register with the Securities and Exchange Commission pursuant to Section 12 of the 1934 Act (the “1934 Act”), or file reports pursuant to
Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when We desire to sell (i) the rights to purchase Warrant Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock
issuable upon exercise of the right to purchase, or (iii) the Common Stock issuable upon conversion of the Warrant Stock, We may be required to hold such securities for an indefinite period. We also understand that any sale of Our right to purchase
Warrant Stock or Warrant Stock or Common Stock issuable upon conversion of the Warrant Stock, which might be made by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule.

  

	Þ	 	Accredited Investor. We are an “accredited investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D of the 1933 Act, as presently in effect. 

 

	Þ	 	Domicile. Our domicile for purposes of state securities laws is in the State of California. 

  

	Þ	 	 Lock-Up Agreement. In consideration for You agreeing to Your obligations under this Warrant Agreement, We
and each of Our transferees agrees, in connection with the first registration of Your securities under the 1933 Act, upon Your request or the request of the underwriters managing any underwritten offering of Your securities, not to (a) lend,

  
 7 

	 	 
offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or
dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether such shares or any such securities are then owned by Us or are thereafter acquired) or (b)
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (a) or (b) above is to be settled by
delivery of Common Stock or such other securities, in cash or otherwise, without Your prior written consent or the prior written consent of such underwriters, as the case may be, for such period of time (not to exceed 180 days or such other period
as may be requested by You or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions
contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto) from the effective date of such registration as You or the underwriters may specify; provided, however, that all (x) Your officers and
directors and (y) Your stockholders holding three percent (3%) or more of Your total outstanding Common Stock (treating all Your convertible, exercisable and exchangeable securities on an as-if converted to Common Stock basis) are bound by
agreements that are no less restrictive. The underwriters in connection with Your initial public offering are intended third party beneficiaries of this Lock-Up Agreement and shall have the right, power and authority to enforce the provisions hereof
as though they were a party hereto. We agree that You may instruct Your transfer agent to place stop-transfer notations in its records to enforce the provisions of this Lock-Up Agreement until the end of such period. 

 

	8.	NOTICES YOU AGREE TO PROVIDE US. 

 You agree to give Us at least twenty (20) days prior written notice of
the following events: 
  

	Þ	 	If You Pay a Dividend or distribution declaration upon your stock. 

  

	Þ	 	If You offer for subscription pro-rata to the existing shareholders additional stock or other rights (except for an offering made pursuant to Your Stockholders’ Agreement 

 

	Þ	 	If You consummate a Merger Event. 

  

	Þ	 	If You have an IPO. 

  

	Þ	 	If You dissolve or liquidate. 

 All notices in this Section must set forth details of the event, how the event
adjusts either Our number of shares or Our Exercise Price and the method used for such adjustment. 
 Timely Notice. Your failure to timely provide
such notice required above shall entitle Us to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Us. 

 

	9.	DOCUMENTS YOU WILL PROVIDE US. 

 Upon signing this Agreement You will provide Us with: 

 

	Þ	 	Executed originals of this Agreement, and all other documents and instruments that We may reasonably require 

  

	Þ	 	Secretary’s certificate of incumbency and authority 

  

	Þ	 	Certified copy of resolutions of Your board of directors approving this Warrant Agreement 

  

	Þ	 	Certified copy of Certificate of Incorporation and By-Laws as amended through the Effective Date 

  

	Þ	 	Current Registration Rights Agreement 

 So long as this Warrant Agreement is in effect, You shall provide
Us with the following: 
  

	 	Þ	 	You shall submit to Us information that We may reasonably request from time to time in order to satisfy the reasonable requests of our independent accounting firm in connection with the audit of the fair market value of
this Warrant Agreement recorded in Our books and records, including but not limited to a written certification by the Company or its advisors of the current fair market value of the Warrant Stock or Your capital stock and shall include information
supporting the reasonableness of the fair market value indicated by such certification. 

  

	Þ	 	You shall submit to Us any documents and information that We may reasonably request from time to time and are necessary to implement the provisions and purposes of this Warrant Agreement. 

  
 8 

	10.	REGISTRATION RIGHTS UNDER THE 1933 ACT. 

 The shares of Your common stock into which the Warrant Stock is
convertible shall have “piggyback” and “Form S-3” registration rights as set forth in the Registration Rights Agreement, dated as of October 29, 2010 (as amended, the “Registration Rights Agreement”). 

 

	11.	OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY. 

 Effective Date. This Warrant Agreement shall
be construed and shall be given effect in all respects as if it had been executed and delivered by the Parties on the date hereof. This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties. 

Attorney’s Fees. In any litigation, arbitration or court proceeding between the Parties relating to this Warrant Agreement, the prevailing party
shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Warrant Agreement. 
 Governing Law.
This Warrant Agreement shall be governed by and construed for all purposes under and in accordance with the laws of the State of California without giving effect to that body of law pertaining to conflicts of laws. 

Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Warrant Agreement may be brought in any state or
federal court of competent jurisdiction located in the State of California. By execution and delivery of this Warrant Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of
California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by
any judgment rendered thereby in connection with this Warrant Agreement. Service of process on any party hereto in any action arising out of or relating to this agreement shall be effective if given in accordance with the requirements for notice set
forth in this Section, and shall be deemed effective and received as set forth therein. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the
courts of any other jurisdiction. 
 Mutual Waiver of Jury Trial; Judicial Reference. Because disputes arising in connection with complex financial
transactions are most quickly and economically resolved by an experienced and expert person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), The Parties desire that their disputes be resolved by a
judge applying such applicable laws. EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY,
“CLAIMS”) ASSERTED BY YOU AGAINST US OR OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING
THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE (“REFERENCE”), THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR
FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY
TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL
ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF THIS SECTION. THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. This waiver extends to all such Claims, including Claims that involve Persons other
than You and Us; Claims that arise out of or are in any way connected to the relationship between You and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this
Warrant Agreement. 

  
 9 

 Counterparts. This Warrant Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. 
 Notices. Any notice required or permitted under this
Warrant Agreement shall be given in writing and shall be deemed effectively given upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You or (2) one day after it is sent by
overnight mail via nationally recognized courier or (3) on the same day as sent via confirmed facsimile transmission, provided that the original is sent by personal delivery or mail by the sending party. 

Remedies. In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or
by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where such party will not have an adequate remedy at law and where damages will not be
readily ascertainable. Each party expressly acknowledges and agrees that there is no adequate remedy at law for any breach of this Warrant Agreement and that in the event of any breach of this Agreement, the injured party shall be entitled to
specific performance of any or all provisions hereof or an injunction prohibiting the other party from continuing to commit any such breach of this Agreement. 

Survival. The representations, warranties, covenants, and conditions of the Parties contained herein or made pursuant to this Warrant Agreement shall
survive the execution and delivery of this Warrant Agreement. 
 Severability. In the event any one or more of the provisions of this Warrant
Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid,
legal and enforceable provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision. 

Entire Agreement. This Warrant Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and
supersedes all prior and contemporaneous agreements, representations and undertakings of the Parties, whether oral or written, with respect to such subject matter. 

Amendments. Any provision of this Warrant Agreement may only be amended by a written instrument signed by the Parties. 

Lost Warrants or Stock Certificates. You covenant to Us that, upon receipt of evidence reasonably satisfactory to Us of the loss, theft, destruction or
mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to You, or in the case of any such mutilation upon surrender and cancellation
of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant Agreement or stock certificate. 

Rights as Stockholders. We shall not, as a party to this Warrant Agreement, be entitled to vote or receive dividends or be deemed the holder of the
Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon Us any of the rights of one of Your stockholders or any right
to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant Agreement is exercised and the shares purchasable upon the
exercise hereof shall have become deliverable, as provided herein. 
 Facsimile Signatures. This Warrant Agreement may be executed and delivered by
facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party. 

  
 10 

 IN WITNESS WHEREOF, each of the Parties have caused this Warrant Agreement to be executed by its officers
who are duly authorized as of the Effective Date. 
  

			
	You:	 	BLOOM ENERGY CORPORATION
		
	Signature:	 	/s/ William H. Kurtz
		 	  

		
	Print Name:	 	 William H. Kurtz

		
	Title:	 	 CFO

		
	Us:	 	TRIPLEPOINT CAPITAL LLC
		
	Signature:	 	/s/ Sajal Srivastava
		 	  

		
	Print Name:	 	 Sajal Srivastava

		
	Title:	 	 Chief Operating Officer

 [SIGNATURE PAGE TO WARRANT AGREEMENT 0674-W-01] 

 EXHIBIT I 

NOTICE OF EXERCISE 
  

	To:	[                    ] 

  

	1.	We hereby elect to purchase [                ] shares of the Series
[                ] Preferred Stock of [                ], pursuant to the terms of the
Plain English Warrant Agreement dated the [    ] day of [            ], [200    ] (the “Plain English Warrant Agreement”) between You and
Us, We hereby tender here payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any. 

  

	2.	Method of Exercise (Please initial the applicable blank) 

  

	 	a.	                 The undersigned elects to exercise the Plain English Warrant Agreement by means of a cash payment, and gives You full
payment for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any. 

  

	 	b.	                 The undersigned elects to exercise the Plain English Warrant Agreement by means of the Net Issuance Exercise method of
Section 3 of the Plain English Warrant Agreement. 

  

	3.	In exercising Our rights to purchase the Series [                ] Preferred Stock of
[                    ], We hereby confirm and acknowledge the investment representations, warranties and covenants made in Section 7 of the Plain
English Warrant Agreement. 

 Please issue a certificate or certificates representing these purchased shares of Series
[                ] Preferred Stock in Our name or in such other name as is specified below. 
  

			
	  

	(Name)
	
	  

	(Address)
		
	US:	 	TRIPLEPOINT CAPITAL LLC
		
	By:	 	  

		
	Title:	 	  

		
	Date:	 	  

  
 12 

 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 

[                          
              ], hereby acknowledges receipt of the “Notice of Exercise” from TRIPLEPOINT CAPITAL LLC, to purchase
[                ] shares of the Series [                ] Preferred Stock of
[                    ], pursuant to the terms of the Plain English Warrant Agreement, and further acknowledges that
[                ] shares remain subject to purchase under the terms of the Plain English Warrant Agreement. 

 

							
	 YOU:
	 		 	         

				
		 		 	 By:
	 	  

				
		 		 	 Title:
	 	  

				
		 		 	 Date:
	 	  

  
 13 

 EXHIBIT III 

TRANSFER NOTICE 
 FOR VALUE
RECEIVED, the foregoing Plain English Warrant Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

					
	  
	 	

					
	(Please Print)	 		 	
			
	Whose address is	 	  
	 	
		
	  
	 	

					
			
	 Dated:
	 	  
	 	
			
	 Holder’s Signature:
	 	  
	 	
			
	 Holder’s Address:
	 	  
	 	
			
	 Transferee’s Signature:
	 	  
	 	
			
	 Transferee’s Address:
	 	  
	 	
			
	 Signature Guaranteed:
	 	  
	 	

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Plain
English Warrant Agreement, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Plain
English Warrant Agreement. 

  
 14

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