Document:

EXHIBIT 10.4

AMENDMENT

TO THE

POSTRETIREMENT LIFE INSURANCE PLAN OF

THE PACIFIC GAS AND ELECTRIC COMPANY

	A.	Adoption and effective date of amendment.  This Amendment to the Postretirement Life Insurance Plan of the Pacific Gas and Electric Company (the "Plan") is adopted by the Board of Directors of the Pacific Gas and Electric Company to restate and update the Plan's governance structure.  This Amendment shall be effective as of February 16, 2016.

	B.	Supersession of inconsistent provisions.  This Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment.

	C.	The Preamble to the Plan is restated to read as follows:

This is the controlling and definitive statement of the Pacific Gas and Electric Company Postretirement Life Insurance Plan ("PLAN").  The PLAN is for the benefit of all eligible employees of Pacific Gas and Electric Company ("COMPANY") and the EMPLOYERS.  The PLAN was first adopted in substantially its current form by the BOARD OF DIRECTORS in 1978 and has since been amended from time to time.  Except as expressly stated by any amendment to this PLAN, benefits of eligible employees who retire, terminate from employment, or cease to be an eligible employee prior to the effective date of any amendment shall not be affected by any such amendment.

	D.	Section 1.02 of the Plan is amended to read as follows:

		1.02	Bargaining Unit Employee shall mean an employee of the COMPANY or of an EMPLOYER, and who is a member of a collective bargaining unit.

E. Section 1.03 of the Plan is amended to read as follows:

		1.03	Beneficiary shall mean the individual or individuals or intervivos trust or trusts that an eligible employee designates to receive benefits under Section 3.02.  Such designation must be made on a form provided by, and filed with, the PLAN ADMINISTRATOR.

F. A new Section 1.03A of the Plan is added to read as follows:

		1.03A	Benefits shall mean the Benefits Department of the COMPANY, 1850 Gateway Boulevard, 7th Floor, Concord, CA 94250.

	G.	A new Section 1.04A of the Plan is added to read as follows:

		1.04A	Claim Administrator shall mean an entity which regularly engages in the business of providing claims administration, adjustment and payment and claim review services to employee welfare benefit plans, including an insurer.  The Claim Administrator for the PLAN is listed in the most recent SUMMARY PLAN DESCRIPTION as modified by subsequent SUMMARIES OF MATERIAL MODIFICATIONS.

	H.	A new Section 1.04B of the Plan is added to read as follows:

		1.04B	Code shall mean the Internal Revenue Code of 1986, as amended.

	I.	A new Section 1.06A of the Plan is added to read as follows:

		1.06A	Employee Benefit Appeals Committee shall mean the committee consisting of the senior officer for Human Resources of the COMPANY (or his or her delegate), the General Counsel of the COMPANY (or his or her delegate) and one other employee or officer of the COMPANY selected by the aforedesignated persons.  If there is no senior officer for Human Resources of the COMPANY, then a senior vice president of PG&E Corporation (or, if such role is vacant, the equivalent position at the COMPANY) will instead be a member of the Employee Benefit Appeals Committee.  Action of the Employee Benefit Appeals Committee shall be by vote of a majority of the members of the Employee Benefit Appeals Committee (whether telephonic, in person or some other form), or in writing without a meeting, and effectively evidenced by the signature of any member who is so authorized by the Employee Benefit Appeals Committee.

	J.	A new Section 1.06B of the Plan is added to read as follows:

		1.06B	Employee Benefit Committee shall mean the Employee Benefit Committee, as referred to in Section 3.02C.

	K.	A new Section 1.06C is added to read as follows:

		1.06C	Employer shall mean the COMPANY, PG&E Corporation, PG&E Corporation Support Services, Inc., PG&E Corporation Support Services II, Inc., and any other company or association designated pursuant to Section 3.02B(a)(2).

	L.	A new Section 1.06D is added to read as follows:

		1.06D	ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended.

	M.	Section 1.07 of the Plan is amended to read as follows:

		1.07	Group Life Insurance Plan shall mean the Pacific Gas and Electric Company Group Life Insurance Plan, restated June 1, 2013, as amended from time to time.

	N.	Section 1.08 of the Plan is amended to read as follows:

		1.08	Management Employee shall mean an employee of the COMPANY or of an EMPLOYER who is employed in a monthly paid position, but who is not in a collective bargaining unit.

	O.	Section 1.11 of the Plan is amended to read as follows:

		1.11	Plan Administrator shall mean the EMPLOYEE BENEFIT COMMITTEE, 1850 Gateway Blvd., Room 7025, Concord, CA, 94520.

.

	P.	A new Section 1.11A of the Plan is added to read as follows:

		1.11A	Retirement Plan shall mean The Pacific Gas and Electric Company Retirement Plan, restated January 1, 2014, as amended from time to time.

	Q.	Section 1.12 of the Plan is amended to read as follows:

		1.12	Service shall mean the "credited service" as that term is defined in the RETIREMENT PLAN or, if the Compensation Committee of the Board of Directors of PG&E Corporation has granted an adjusted service date for an eligible employee, "credited service" as calculated from such adjusted service date.  Additionally, for purposes of this PLAN, Service shall include service with any EMPLOYER.

	R.	A new Section 1.12A is added to read as follows:

		1.12A	Summary of Material Modification shall mean a notice of amendment or change required by ERISA, when the PLAN has been amended or when other information is required to appear in the PLAN's SUMMARY PLAN DESCRIPTION.

S. A new Section 1.12B is added to read as follows:

		1.12B	Summary Plan Description shall mean the most recent "Summary of Benefits Handbook for Retirees and Surviving Dependents," as modified by subsequent Summaries of Material Modifications.

T. A new Section 1.12C is added to read as follows:

		1.12C	Trusts shall mean the trusts that may be established to fund certain benefits under the PLAN.

	U.	A new Section 1.12D is added to read as follows:

		1.12D	Trustee shall mean such bank or trust company selected by the EMPLOYEE BENEFIT COMMITTEE which agrees to act as trustee or successor trustee pursuant to the TRUST AGREEMENT.

	V.	A new Section 1.12E is added to read as follows:

		1.12E	Trust Agreement shall mean a written agreement among the COMPANY, the EMPLOYEE BENEFIT COMMITTEE and the TRUSTEE governing the provision of trustee services to the PLAN.

W. Section 1.13 is amended to read as follows:

		1.13	Weekly-Paid Non-Bargaining Unit Employee shall mean an employee of the COMPANY or an EMPLOYER, but who is paid on a weekly basis and is not a member of a collective bargaining unit.

X. Section 2.02 of the Plan is amended to read as follows:

		2.02	Terminated Employees.  Anything the PLAN to the contrary notwithstanding, an employee whose employment with the COMPANY or an EMPLOYER terminates prior to attaining "Normal Retirement Date" or "Early Retirement Date," as those terms are defined under the RETIREMENT PLAN, shall not be an eligible employee entitled to benefits under the PLAN.

Y. Section 3.02 of the Plan is amended to read as follows:

		3.02	Designation of Beneficiary.  An eligible employee who has elected a form of benefit providing for the payment of life insurance proceeds upon his death shall designate a BENEFICIARY, or change such BENEFICIARY, by filling out a form provided by, and filed with, the PLAN ADMINISTRATOR for this purpose.  The designation of a BENEFICIARY becomes effective only when received by the PLAN ADMINISTRATOR.  If there is no designation of a BENEFICIARY on file with the PLAN ADMINISTRATOR, the BENEFICIARY shall be in accordance with the eligible employee's designation of a beneficiary for the purposes of the GROUP LIFE INSURANCE PLAN.  If the designated BENEFICIARY is not living at the time of the eligible employee's death, the PLAN ADMINISTRATOR shall determine the individual, individuals, or estate entitled to receive benefits by application of the procedures set out in the GROUP LIFE INSURANCE PLAN.

Z. A new Section 3.02A of the Plan is added to read as follows:

		3.02A	Funding and Expenses.

		(a)	Costs of Benefits.  The cost of benefits under the PLAN may be funded by EMPLOYER contributions (from the general assets or by payment through one or more TRUSTS).  Each EMPLOYER is responsible for making contributions to the PLAN on behalf of its eligible employees, or for reimbursing the COMPANY for the cost of such contributions, as provided in Section 3.02B(a)(3), as determined by the [PLAN ADMINISTRATOR] in its sole discretion.  In the event an EMPLOYER fails to make its allocable share of any contribution, and the COMPANY does not exercise its discretion to make the contribution on such EMPLOYER's behalf, participation in the PLAN of the eligible employees of such EMPLOYER will be suspended to the extent permitted under applicable law.  If, at some future date, the EMPLOYER makes all past-due contributions, the participation of its eligible employees will be recognized for the period of suspension.

		(b)	Use of Trusts.  The Company may, but is not required to, establish one or more TRUSTS for the payment of benefits under the PLAN.

		(c)	Liability for Benefit Costs Under Insurance Agreements.  If a benefit under the PLAN is insured under an agreement with an insurance company, then the EMPLOYERS assume no liability or responsibility therefor.  Any person having a right or claim shall look solely to the insurance company that is obliged to provide such benefits.

		(d)	Plan Expenses.  The expenses incurred in administering the PLAN shall be borne by the EMPLOYERS or by the TRUSTS used to fund the benefits under the PLAN.  The EMPLOYERS' liability for the expenses of PLAN administration, to the extent applicable, may be equitably apportioned among the EMPLOYERS, as determined by the EMPLOYEE BENEFIT COMMITTEE (solely in a settlor capacity) in its sole discretion.  Such permissible expenses that may be borne by the TRUSTS shall, to the extent consistent with ERISA, include any expenses incident to the functioning of the PLAN ADMINISTRATOR or any department of the EMPLOYERS, including, but not limited to, fees for accountants, actuaries, counsel, investment managers and other specialists and their agents and other costs of administering the PLAN.  The EMPLOYERS may seek reimbursement from the TRUSTS, if any, for expenses of administering this PLAN, to the extent applicable and permitted by the CODE and ERISA.  A refund, rebate, performance guarantee penalty or similar item related to the operation of the PLAN may be paid directly to the COMPANY's operating general assets or to the TRUSTS as designated by the PLAN ADMINISTRATOR in its sole discretion as permitted under ERISA or the CODE.  The expenses of a CLAIM ADMINISTRATOR shall be borne by the CLAIM ADMINISTRATOR, the COMPANY or the TRUSTS, as provided in the applicable agreement with the CLAIM ADMINISTRATOR, as permitted under the CODE or ERISA.

AA. A new Section 3.02B of the Plan is added to read as follows:

		3.02B	Company's Settlor Powers.

		(a)	Company Powers.  The COMPANY, acting through its BOARD OF DIRECTORS or any duly authorized committee of the BOARD OF DIRECTORS, or the Board of Directors (or any committee thereof) of PG&E Corporation, shall have the following powers:

		(1)	Amend or Terminate the Plan.  The power to amend or terminate the PLAN.

		(2)	Designation and Removal of Employers.  The power to designate and remove the EMPLOYERS whose eligible employees may participate in the PLAN.

		(3)	Contribution to the Plan.  The power to contribute to the PLAN, or as applicable, TRUSTS, such amount of contributions as the COMPANY shall determine in its sole discretion.

		(b)	Discretionary Delegation of Settlor Powers.  The COMPANY, acting through its BOARD OF DIRECTORS or any duly authorized committee of the BOARD OF DIRECTORS, or the Board of Directors (or any committee thereof) of PG&E Corporation, may delegate any of its powers described in Section 3.02B(a), including, but not limited to, to the BOARD OF DIRECTORS, or any committee thereof, of the COMPANY, to the Board of Directors, or any committee thereof, of PG&E Corporation, or to an officer of either the COMPANY or PG&E Corporation.  Any use of such powers by a delegate of the BOARD OF DIRECTORS of the COMPANY or the Board of Directors of PG&E Corporation, as the case may be, shall have the same force and effect as if utilized by the BOARD OF DIRECTORS of the COMPANY or the Board of Directors of PG&E Corporation, as the case may be, and shall be considered a settlor and non-fiduciary activity by the delegate.

		(c)	Delegation of Settlor Authority to the Employee Benefit Committee.  The EMPLOYEE BENEFIT COMMITTEE, in a settlor capacity, is authorized to adopt amendments that, as determined by the EMPLOYEE BENEFIT COMMITTEE in its sole discretion, are:

		(1)	Required by Law.  Required to comply with applicable law; or

		(2)	Amendments Not Materially Impacting Plan Benefits, Rights or Features or Benefit Structures.  Amendments that improve the operation of the PLAN but that do not affect the governance structure of the PLAN and do not have a material effect on PLAN benefits, rights or features.

		(d)	Prohibited Amendments.  Notwithstanding the foregoing, no amendment shall:

		(1)	Authorize or permit any part of the TRUST (other than such part as is required to pay taxes and PLAN expenses consistent with applicable law) to be used for or diverted other than for the exclusive benefit of the eligible employees or their BENEFICIARIES prior to the satisfaction of all liabilities with respect to the eligible employees or their BENEFICIARIES;

		(2)	Diminish any benefits arising from incurred but unpaid claims for benefits of eligible employees prior to the effective date of such amendment; or

		(3)	Cause or permit any portion of the TRUST to revert to or become the property of any EMPLOYER except to the extent permitted under applicable law.

	BB.	A new Section 3.02C of the Plan is added to read as follows:

		3.02C	Employee Benefit Committee.

		(a)	Composition of the Employee Benefit Committee.  The Chief Financial Officer of PG&E Corporation, the General Counsel of PG&E Corporation and the Executive Vice President, Corporate Services and Human Resources, of PG&E Corporation shall be members of the EMPLOYEE BENEFIT COMMITTEE and shall designate two additional members of the EMPLOYEE BENEFIT COMMITTEE who shall be officers or employees of the PG&E Corporation or its subsidiaries.  If there is no Executive Vice President, Corporate Services and Human Resources of PG&E Corporation, then the senior most human resources officer of the COMPANY (or, if such role is vacant, the equivalent position at PG&E Corporation) will instead be a member of the EMPLOYEE BENEFIT COMMITTEE.  The EMPLOYEE BENEFIT COMMITTEE shall designate one of its members to serve as its Chairman.

		(b)	Quorum.  A quorum of the EMPLOYEE BENEFIT COMMITTEE shall consist of three members.

		(c)	Action by the Employee Benefit Committee.  Action of the EMPLOYEE BENEFIT COMMITTEE shall be by vote of a majority of the members of the EMPLOYEE BENEFIT COMMITTEE present at a meeting, or in writing without a meeting and evidenced by the signature of the Chairman of the EMPLOYEE BENEFIT COMMITTEE or any member who is so authorized by the EMPLOYEE BENEFIT COMMITTEE or its Chairman.

	CC.	Section 3.03 of the Plan is amended to read as follows:

		3.03	Plan Administration.

		(a)	Plan Administrator and Named Fiduciary.  The EMPLOYEE BENEFIT COMMITTEE serves as the PLAN ADMINISTRATOR.  The PLAN ADMINISTRATOR is the "named fiduciary," within the meaning of Section 402(a)(2) of ERISA, of the PLAN, but only with respect to its duties and powers as PLAN ADMINISTRATOR.  For purposes of clarity, the EMPLOYEE BENEFIT COMMITTEE is not a fiduciary for any other purpose, including, but not limited to, the duties and powers allocated to others, as provided in Section 3.03(f) and 3.03(g), below.

		(b)	Plan Administrator Duties and Powers.  To the extent not the responsibility of a CLAIM ADMINISTRATOR or some other entity, the PLAN ADMINISTRATOR shall have the discretionary authority with respect to all duties necessary or powers desirable to administer the PLAN, including, but not limited to, the following:

		(1)	To interpret all provisions of the PLAN and to establish reasonable rules and procedures to facilitate the administration of the PLAN;

		(2)	To communicate the terms of the PLAN to eligible employees and BENEFICIARIES;

		(3)	To prescribe procedures and related forms (which may be electronic in nature) to be followed by eligible employees and BENEFICIARIES filing claims for benefits under the PLAN;

		(4)	To receive from eligible employees and BENEFICIARIES such information as shall be necessary for the proper administration of the PLAN;

		(5)	To keep records related to the PLAN, including records related to claims for benefits filed and paid under the PLAN, and any other information required by the CODE and ERISA;

		(6)	To enter into appropriate agreements with, appoint, discharge and periodically monitor the performance of third party administrators, insurers, service providers, investment managers, consultants, accountants, attorneys and other agents in the administration of the PLAN;

		(7)	To prepare and file any reports or returns with respect to the PLAN required by the CODE and ERISA;

		(8)	To correct errors and make equitable adjustments for mistakes made in the administration of the PLAN, including, but not limited to, for mistakes made in the payment or nonpayment of benefits under the PLAN, specifically, and without limitation, to recover erroneous overpayments made by the PLAN to an eligible employee or BENEFICIARY, in whatever manner the PLAN ADMINISTRATOR deems appropriate, including suspensions or recoupment of, or offsets against, future payments, including benefit payments or wages, due that eligible employee or BENEFICIARY;

		(9)	To issue rules and regulations necessary for the proper conduct and administration of the PLAN and to change, alter or amend such rules and regulations;

		(10)	To determine all questions arising in the administration of the PLAN, to the extent the determination is not the responsibility of a third party administrator, insurer or some other entity;

		(11)	To propose and accept settlements and offsets of claims, overpayments and other disputes involving claims for benefits under the PLAN;

		(12)	To direct the TRUSTEE to pay benefits and PLAN expenses chargeable to the PLAN;

		(13)	To determine and charge to each EMPLOYER its share of the EMPLOYER contributions made by the COMPANY;

		(14)	To determine and enforce any limits on benefit elections hereunder;

		(15)	To compute the amount and kind of benefits payable to eligible employees and BENEFICIARIES, to the extent such determination is not the responsibility of a third party administrator, insurer or some other entity; and

		(16)	Such other duties or powers provided in the PLAN or necessary to administer the PLAN.

		(c)	Allocation and Delegation of Duties and Powers.  The PLAN ADMINISTRATOR shall have the authority to:

		(1)	Allocation of Duties and Powers.  Allocate, from time-to-time, by a written instrument filed in its records, all or any part of its duties and powers under the PLAN to one or more of its members, including a subcommittee, as may be deemed advisable, and in the same manner to revoke such allocation of duties and powers.  In the exercise of such allocated duties and powers, any action of the member or subcommittee to whom duties and powers are allocated shall have the same force and effect for all purposes hereunder as if such action had been taken by the PLAN ADMINISTRATOR and shall be afforded the same deference and arbitrary and capricious level of review afforded to the PLAN ADMINISTRATOR.  The PLAN ADMINISTRATOR shall not be liable for any acts or omissions of such member or subcommittee.  The member or subcommittee to whom duties and powers have been allocated shall periodically report to the PLAN ADMINISTRATOR concerning the discharge of the allocated duties and powers.

		(2)	Delegation of Duties and Powers.  Delegate, from time-to-time, by a written instrument filed in its records, all or any part of its duties and powers under the PLAN to such person or persons, as the PLAN ADMINISTRATOR may deem advisable (and may authorize such person to delegate such duties and powers to such other person or persons as the PLAN ADMINISTRATOR shall authorize) and in the same manner to revoke any such delegation of duties and powers.  Any action of the delegate in the exercise of such delegated duties and powers shall have the same force and effect for all purposes hereunder as if such action had been taken by the PLAN ADMINISTRATOR and shall be afforded the same deference and arbitrary and capricious level of review afforded to the PLAN ADMINISTRATOR.  The PLAN ADMINISTRATOR shall not be liable for any acts or omissions of any such delegate.  The delegate shall periodically report to the PLAN ADMINISTRATOR concerning the discharge of the delegated duties and powers.

		(3)	Deemed Delegation of Duties and Powers.  The PLAN ADMINISTRATOR shall be deemed to have delegated its duties and powers for determining benefits, eligibility for benefits and/or other PLAN operations to a third party administrator, insurer or other person where such person has been appointed by the PLAN ADMINISTRATOR or its delegate to make such determinations.  In such case, such other person shall have the duties and powers as the PLAN ADMINISTRATOR as set forth in this PLAN document.  Any action of the delegate in the exercise of such delegated duties and powers shall have the same force and effect for all purposes hereunder as if such action had been taken by the PLAN ADMINISTRATOR and shall be afforded the same deference and arbitrary and capricious level of review afforded to the PLAN ADMINISTRATOR.

		(d)	Claim Administrators.  Each CLAIM ADMINISTRATOR is a "named fiduciary," within the meaning of Section 402(a)(2) of ERISA, of the Plan, but only with respect to its duties and powers as CLAIM ADMINISTRATOR.  For purposes of clarity, a CLAIM ADMINISTRATOR is not a fiduciary for any other purpose, including, but not limited to, the duties allocated to others, as provided in Section 3.03(b) and Section 3.03(g).  The PLAN ADMINISTRATOR shall have no responsibility for reviewing claims for benefits that are required by the terms of the applicable agreement to be processed by the CLAIM ADMINISTRATOR.

		(e)	Claim Administrator Duties and Powers.  A CLAIM ADMINISTRATOR shall have all duties and powers necessary or desirable to handle the day-to-day administration of benefits under the PLAN, which would include the discretionary authority to interpret and decide all matters of fact in granting or denying benefits under the PLAN.  The CLAIM ADMINISTRATOR's interpretations and decisions shall be final and conclusive on all persons claiming benefits under the PLAN.  For purposes of clarity, if a benefit is provided through an insurance contract, any claim that is required by the terms of the insurance contract to be processed by an insurance company shall be made in writing to the insurance company.

		(f)	Named Fiduciary for Initial Claims and Appeals Relating to Benefit Determinations and Initial Claims Relating to Eligibility Determinations under Section 3.04.  The CLAIM ADMINISTRATOR is the "named fiduciary," within the meaning of Section 402(a)(2) of ERISA, for purposes of exercising its discretionary authority in deciding initial claims and appeals of claims not related to questions of length of SERVICE, status or membership in the PLAN, as described in Section 3.04.  For purposes of clarity, the CLAIM ADMINISTRATOR is not a fiduciary for any other purpose.

		(g)	Named Fiduciary for Appeals of Eligibility Determinations under Section 3.04.  The EMPLOYEE BENEFIT APPEALS COMMITTEE is the "named fiduciary," within the meaning of Section 402(a)(2) of ERISA, for purposes of exercising its discretionary authority in determining appeals of claims for benefits under the PLAN involving questions of length of SERVICE, status or membership in the PLAN.  For purposes of clarity, the EMPLOYEE BENEFIT APPEALS COMMITTEE is not a fiduciary for any other purpose.

(h) Indemnification and Exculpation.

		(1)	Scope.  The PLAN shall indemnify and exculpate any current and former director, officer and employee of the COMPANY, as well as current and former members of the EMPLOYEE BENEFIT COMMITTEE, EMPLOYEE BENEFIT APPEALS COMMITTEE and BENEFITS ("COVERED PERSONS") against any and all claims of liability and investigations brought against the COVERED PERSON arising in connection with the exercise of the COVERED PERSON's duties and powers to the PLAN, including all expenses (including reasonable attorneys' fees) reasonably incurred in the COVERED PERSON's defense of the claims of liability or investigations, unless (i) the COVERED PERSON has committed gross negligence, fraud or breach of fiduciary duty under ERISA with respect to the claims of liability or investigations, as determined in a non-appealable judgment of a court of competent jurisdiction or as set forth in a legal opinion issued by independent counsel to the EMPLOYEE BENEFIT COMMITTEE or (ii) indemnification or exculpation would violate applicable law.

		(2)	Advancement of Expenses.  The PLAN may advance all expenses (including reasonable attorneys' fees) reasonably incurred by a COVERED PERSON in the defense against claims of liability or investigations brought against the COVERED PERSON arising in connection with the exercise of the COVERED PERSON's duties and powers to the PLAN; provided that, the EMPLOYERS shall have the right, but not the obligation, to conduct the defense of such COVERED PERSON.  Any advance to a COVERED PERSON must be conditioned upon delivery to the PLAN (or if the expenses are advanced by an EMPLOYER, then to such EMPLOYER) of an undertaking by, or on behalf of, the COVERED PERSON to repay all such amounts to the PLAN (or if the expenses are advanced by an EMPLOYER, then to such EMPLOYER) if it is ultimately determined that the COVERED PERSON is not entitled to indemnification and exculpation in accordance with Section 3.03(h)(1).

		(3)	Certain Claims of Liability.  Provided that the COVERED PERSON is otherwise entitled to be indemnified and exculpated in accordance with Section 3.03(h)(1), the PLAN may only indemnify the COVERED PERSON for reasonably incurred legal expenses (including reasonable attorneys' fees) in respect of claims of liability brought by the PLAN, the TRUSTEE or an EMPLOYER against the COVERED PERSON to the maximum extent permitted by law.  Notwithstanding Section 3.03(h)(2), the PLAN may not advance any expenses to the COVERED PERSON in respect of claims of liability brought by the PLAN or brought by the TRUSTEE against the COVERED PERSON.  For purposes hereof, claims of liability "brought by the PLAN" means those claims initiated by the EMPLOYEE BENEFIT COMMITTEE.

		(4)	Source of Indemnification and Exculpation.  The EMPLOYERS, in their sole discretion, may indemnify, exculpate and advance the expenses (including reasonable attorneys' fees) of COVERED PERSONS, as provided in this Section 3.03(h).  The EMPLOYERS may satisfy these obligations through the purchase of a policy or policies of insurance providing equivalent protection, which shall be considered primary to any funds that may be provided by the EMPLOYERS or the PLAN to the extent that an insurance company grants coverage with respect to any claim or investigation subject to the scope set forth in Section 3.03(h)(1).  The EMPLOYERS' liability for the expenses of COVERED PERSONS, to the extent applicable, may be equitably apportioned among the EMPLOYERS, including any EMPLOYER that subsequently ceases to be an EMPLOYER, as determined by the PG&E Corporation Board of Directors, or any of its committees, in its sole discretion.

	DD.	Section 3.04 of is amended to read as follows:

		3.04	Claims and Appeals Procedure.

		(a)	Compliance with Regulations.  It is intended that the claims procedure of this PLAN be administered in accordance with the claims procedure regulations of the U.S. Department of Labor set forth in 29 C.F.R. Section 2560.503-1.

(b)        Initial Claims.

		(1)	Submission of Initial Claims Relating to the Payment of Plan Benefits.  Claims for benefits under the PLAN made by an eligible employee, BENEFICIARY or other person covered or claiming they are entitled to benefits from the PLAN ("CLAIMANT") (or by an authorized representative of any CLAIMANT) must be submitted in writing to the CLAIM ADMINISTRATOR.

		(2)	Submission of Initial Claims Relating to Eligibility.  Claims relating to length of SERVICE, status or membership in the PLAN made by a CLAIMANT (or by an authorized representative of such CLAIMANT) must be submitted in writing to the CLAIM ADMINISTRATOR.

		(3)	Authorized Representative.  The PLAN ADMINISTRATOR may establish and enforce reasonable procedures for determining whether any individual or entity has been authorized to act on behalf of a CLAIMANT.

		(4)	Processing of Approved Claims.  Approved claims will be processed and, if applicable, the PLAN ADMINISTRATOR will issue instructions for the provision of benefits as approved.

		(5)	Notification of Denied Claims.  If a claim is denied in whole or in part by the CLAIM ADMINISTRATOR in its discretion, the CLAIM ADMINISTRATOR shall notify the CLAIMANT of the decision by written or electronic notice, in a manner calculated to be understood by the CLAIMANT.  The notice shall set forth:

		a)	The specific reasons for the denial of the claim;

		b)	A reference to specific provisions of the PLAN on which the denial is based;

		c)	A description of any additional material or information necessary to perfect the claim and an explanation of why such material or information is necessary; and

		d)	An explanation of the PLAN's claims review procedure for the denied or partially denied claim and any applicable time limits, and a statement that the CLAIMANT has a right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review.

Such notification shall be given within 90 days after the claim is received by the CLAIM ADMINISTRATOR (or within 180 days, if special circumstances require an extension of time for processing the claim, and provided that written notice of such extension and circumstances and the date a decision is expected is given to the CLAIMANT within the initial 90-day period).  A claim is considered approved only if its approval is communicated in writing to a CLAIMANT.

(c)        Appeals of Denied Claims.

		(1)	Right to Appeal Benefit Determinations.  Upon denial of a claim in whole or in part for benefits under the PLAN, or failure of the CLAIM ADMINISTRATOR to provide a notice of denial as set forth in Section 3.04(b)(5), a CLAIMANT or his or her duly authorized representative shall have the right to submit a written request to the CLAIM ADMINISTRATOR for a full and fair review of the denied claim.  A request for review of a claim must be submitted within 60 days of receipt by the CLAIMANT of written notice of the denial of the claim.  If the CLAIMANT fails to file a request for review within 60 days of the denial notification, the claim will be deemed abandoned and the CLAIMANT precluded from reasserting it.

		(2)	Right to Appeal Eligibility Determinations.  Upon denial of a claim in whole or in part relating to length of SERVICE, status or membership in the PLAN, or failure of the CLAIM ADMINISTRATOR to provide a notice of denial as set forth in Section 3.04(b)(5), a CLAIMANT or his or her duly authorized representative shall have the right to submit a written request to the EMPLOYEE BENEFIT APPEALS COMMITTEE for a full and fair review of the denied claim.  A request for review of a claim must be submitted within 90 days of receipt by the CLAIMANT of written notice of the denial of the claim.  If the CLAIMANT fails to file a request for review within 90 days of the denial notification, the claim will be deemed abandoned and the CLAIMANT precluded from reasserting it.

		(3)	Access to Documents and Records.  The CLAIMANT or the CLAIMANT's representative shall have, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the CLAIMANT's claim.

		(4)	Right to Submit Additional Information.  The CLAIMANT may submit written comments, documents, records and other information relating to the claim.

		(5)	Scope of the Review.  The review process shall include all comments, documents, records and other information submitted by the CLAIMANT relating to the claim, without regard to whether such information was submitted or considered in the initial determination.

		(6)	Preclusion for Materials Not Submitted.  Failure to raise issues or present evidence on review will preclude those issues or evidence from being presented in any subsequent proceeding or judicial review of the claim.

		(7)	Decision on Review.  The decision on review shall be in written or electronic form, in a manner calculated to be understood by the CLAIMANT.  If the claim is denied on review, the notice shall set forth:

		a)	The specific reasons for the denial of the appeal of the claim;

		b)	A reference to specific provisions of the PLAN on which the denial is based;

		c)	A statement that the CLAIMANT is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the CLAIMANT's claim for benefits; and

		d)	A statement describing any voluntary appeal procedures offered by the PLAN (if any) and the CLAIMANT's right to obtain the information about such procedures, and a statement of the CLAIMANT's right to bring an action under Section 502(a) of ERISA.

The CLAIMANT will be advised of the results of the review within 60 days after receipt of the written request for review (or within 120 days if special circumstances require an extension of time for processing the request, and if notice of such extension and circumstances, including the date a decision is expected to be made, is given to such CLAIMANT within the initial 60 day period).

		(e)	Authority of Claim Administrator and Employee Benefit Appeals Committee and Deference to their Decisions.  To the extent of the responsibility to review initial benefit and eligibility claims, as well as to review appeals of the denial of benefit claims (with respect to the CLAIM ADMINISTRATOR) or to review appeals of denial of claims relating to length of SERVICE, status or membership in the PLAN (with respect to the EMPLOYEE BENEFIT APPEALS COMMITTEE), then the CLAIM ADMINISTRATOR and the EMPLOYEE BENEFIT APPEALS COMMITTEE shall have the discretionary authority to interpret and apply the provisions of the PLAN and such decisions shall be afforded the maximum deference permitted by law.  Benefits will be paid only if the CLAIM ADMINISTRATOR (with respect to initial benefit and eligibility claims) or the CLAIM ADMINISTRATOR or EMPLOYEE BENEFIT APPEALS COMMITTEE, on appeal, as the case may be, decides in its discretion that the CLAIMANT is so entitled.  The decisions of the CLAIM ADMINISTRATOR and EMPLOYEE BENEFIT APPEALS COMMITTEE shall be final and binding on the CLAIMANT.

		(f)	Exhaustion of Claims Procedure Required in All Cases.  Any eligible employee, BENEFICIARY or other person made subject to the claims procedures in this Section 3.04, and the SUMMARY PLAN DESCRIPTION, as modified by subsequent SUMMARIES OF MATERIAL MODIFICATION must follow and exhaust the applicable claims procedures described in this Section 3.04 before taking action in any other forum regarding a claim for benefits under the PLAN or alleging a violation of or seeking any remedy under any provision of ERISA or other applicable law.

EE.      Section 3.05 of the Plan is deleted in its entirety and is hereby reserved.

	FF.	All references to "employer" and "participating employer" in the Plan are replaced with references to "EMPLOYER."

	GG.	All references to "Retirement Plan" and "COMPANY'S Retirement Plan" in the Plan are replaced with references to "RETIREMENT PLAN."

	HH.	All references to "GROUP LIFE INSURANCE AND LONG-TERM DISABILITY PLAN" in the Plan are replaced with references to "GROUP LIFE INSURANCE PLAN."

	II.	All references to "Officer" in the Plan are replaced with references to "officer."

The foregoing amendments were duly adopted by the Compensation Committee of the Board of Directors of PG&E Corporation on February 16, 2016.

JASON WELLS

_____________________________________________

Jason Wells

Chairman, Employee Benefit CommitteeExhibit 10.1

 

SUBSCRIPTION AGREEMENT

This SUBSCRIPTION
AGREEMENT (this “Agreement”), made as of the last date set forth on the signature page hereof, is between Magnolia
Solar Corporation, a Nevada corporation (the “Company”), and the undersigned (the “Subscriber”).

W I T N E S S E T H:

WHEREAS, the Company
is offering (the “Offering”) up to 5,000,000 units (“Units”) at a price of $4.00 per Unit or $20,000,000
(the “Maximum Offering”);

WHEREAS, each Unit
will consist of (1) one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”)
and (2) a warrant to purchase one share of the Company’s Common Stock exercisable on or before December 31, 2018 at a price
of $5.00 per share (the “Warrant”). The Units are being offered to an unlimited number of Accredited Investors until
the earlier of (A) that date upon which subscriptions for the Maximum Offering have been received and accepted by the Company,
(B) [*], subject to a 30-day extension at the option of the Company or (C) that date upon which the Offering is terminated by the
Company; and

WHEREAS,
the Subscriber desires to purchase that number of shares of Units set forth on the signature page hereof on the terms and conditions
hereinafter set forth.

NOW, THEREFORE,
in consideration of the premises and the mutual representations and covenants hereinafter set forth, the parties hereto do hereby
agree as follows:

I.SUBSCRIPTION FOR UNITS AND REPRESENTATIONS
BY SUBSCRIBER

1.1             
Subject to the terms and conditions hereinafter set forth and in the Confidential Private Placement Memorandum dated February
[*], 2016 (such memorandum, together with all amendments thereof and exhibits thereto, the “Memorandum”), the Subscriber
hereby irrevocably subscribes for and agrees to purchase from the Company such number of shares of Units, and the Company agrees
to sell the number of Units to the Subscriber as is set forth on the signature page hereof, at a per share price equal to $4.00
per Unit (the “Purchase Price”). The Purchase Price is payable by wire transfer of immediately available funds to:

[*]

1.2             
The Subscriber recognizes that the purchase of the Units involves a high degree of risk including, but not limited to risks
relating to the Units, the Company and its operations. 

1.3             
The Subscriber represents that the Subscriber is an “Accredited Investor” as such term is defined in Rule 501
of Regulation D (“Regulation D”) promulgated under the Securities Act, as indicated by the Subscriber’s responses
to the questions contained in Article VI hereof.

1.4             
The Subscriber hereby acknowledges and represents that (a) the Subscriber has knowledge and experience in business and financial
matters, prior investment experience, including investment in securities that are non-listed, unregistered and/or not traded on
a national securities exchange, or the Subscriber has employed the services of a “purchaser representative” (as defined
in Rule 501 of Regulation D), attorney and/or accountant to read all of the documents furnished or made available by the Company
both to the Subscriber and to all other prospective investors in the Units to evaluate the merits and risks of such an investment
on the Subscriber’s behalf; (b) the Subscriber recognizes the highly speculative nature of this investment; and (c) the Subscriber
is able to bear the economic risk that the Subscriber hereby assumes.

1.5             
The Subscriber hereby acknowledges receipt and careful review of this Agreement, the Memorandum (which includes the Risk
Factors), including all exhibits thereto, and any documents which may have been made available upon request as reflected therein
(collectively referred to as the “Offering Materials”). The Subscriber agrees to the terms of the Warrant and the Certificate
of Designation attached to the Memorandum as exhibits. The Subscriber hereby represents that the Subscriber has been furnished
by the Company during the course of the Offering with all information regarding the Company, the terms and conditions of the Offering
and any additional information that the Subscriber has requested or desired to know, and has been afforded the opportunity to ask
questions of and receive answers from duly authorized officers or other representatives of the Company concerning the Company and
the terms and conditions of the Offering. Capitalized terms not defined in this Agreement shall have the terms ascribed to them
in the Memorandum.

    	A-1 

    	 

    

 

1.6             
In making the decision to invest in the Units and the underlying securities, the Subscriber has relied solely upon the information
provided by the Company in the Offering Materials. To the extent necessary, the Subscriber has retained, at its own expense, and
relied upon appropriate professional advice regarding the investment, tax and legal merits and consequences of this Agreement and
the purchase hereunder. The Subscriber disclaims reliance on any advertisements of the Offering and statements made or information
provided by any person or entity in the course of Subscriber’s consideration of an investment other than the Offering Materials.

1.7             
The Subscriber hereby represents that the Subscriber, either by reason of the Subscriber’s business or financial experience
or the business or financial experience of the Subscriber’s professional advisors (who are unaffiliated with and not compensated
by the Company or any affiliate or selling agent of the Company, directly or indirectly), has the capacity to protect the Subscriber’s
own interests in connection with the transaction contemplated hereby.

1.8             
The Subscriber hereby acknowledges that the Offering has not been reviewed by the United States Securities and Exchange
Commission (the “SEC”) nor any state regulatory authority since the Offering is intended to be exempt from the registration
requirements of Section 5 of the Securities Act, pursuant to Regulation D. The Subscriber understands that the Units have not been
registered under the Securities Act or under any state securities or “blue sky” laws and agrees not to sell, pledge,
assign or otherwise transfer or dispose of the Units or any of the underlying securities unless it is registered under the Securities
Act and under any applicable state securities or “blue sky” laws or unless an exemption from such registration is available.

1.9             
The Subscriber understands that the Units are being sold to the Subscriber by reason of a claimed exemption under the provisions
of the Securities Act that depends, in part, upon the Subscriber’s investment intention. In this connection, the Subscriber
hereby represents that the Subscriber is purchasing the Units for the Subscriber’s own account for investment and not with
a view toward the resale or distribution to others. The Subscriber,
if an entity, further
represents that it
was not formed for
the purpose of purchasing
the Units.

1.10         
The Subscriber consents to the placement of a legend on any certificate or other document evidencing the Units and the underlying
securities that such securities have not been registered and setting forth or referring to the restrictions on transferability
and sale thereof contained in this Agreement. The Subscriber is aware that the Company will make a notation in its appropriate
records with respect to the restrictions on the transferability of such Units or the underlying securities. The legend to be placed
on each certificate shall be in form substantially similar to the following:

“The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended and may not be
sold, transferred, pledged, hypothecated or otherwise disposed of in the absence of (i) an effective registration statement for
such securities under said act or (ii) an opinion of company counsel that such registration is not required.” 

1.11         
The Subscriber understands that the Company will review this Agreement and is hereby given authority by the Subscriber to
make such inquiries that the Company deems necessary in order to verify the accredited investor status of the Subscriber and otherwise
verify any other information provided to the Company by the Subscriber. The Subscriber hereby represents that the address of the
Subscriber furnished by Subscriber on the signature page hereof is the Subscriber’s principal residence if Subscriber is
an individual or its principal business address if it is a corporation or other entity.

1.12         
The Subscriber represents that the Subscriber has full power and authority (corporate, statutory and otherwise) to execute
and deliver this Agreement and to purchase the Units. This Agreement constitutes the legal, valid and binding obligation of the
Subscriber, enforceable against the Subscriber in accordance with its terms.

1.13         
If the Subscriber is a corporation, partnership, limited liability company, trust, employee benefit plan, individual retirement
account, Keogh Plan, or other tax-exempt entity, it is authorized and qualified to invest in the Company and the person signing
this Agreement on behalf of such entity has been duly authorized by such entity to do so.

    	A-2 

    	 

    

 

1.14         
The Subscriber acknowledges that if he or she is a Registered Representative of an FINRA member firm, he or she must give
such firm the notice required by the FINRA’s Rules of Fair Practice, receipt of which must be acknowledged by such firm in
Section 6.3 below.

1.15         
The Subscriber agrees not to issue any public statement with respect to the Subscriber’s investment or proposed investment
in the Company or the terms of any agreement or covenant between them and the Company without the Company’s prior written
consent, except such disclosures as may be required under applicable law or under any applicable order, rule or regulation.

1.16         
The Subscriber agrees to hold the Company and its directors, officers, employees, affiliates, controlling persons and agents
and their respective heirs, representatives, successors and assigns harmless and to indemnify them against all liabilities, costs
and expenses incurred by them as a result of (a) any sale or distribution of the Units or the underlying securities by the Subscriber
in violation of the Securities Act or any applicable state securities or “blue sky” laws; or (b) any false representation
or warranty or any breach or failure by the Subscriber to comply with any covenant made by the Subscriber in this Agreement (including
the Confidential Investor Questionnaire contained in Article VI herein) or any other document furnished by the Subscriber to any
of the foregoing in connection with this transaction.

		II.	REPRESENTATIONS BY AND COVENANTS OF THE COMPANY

The
Company hereby represents and warrants to the Subscriber that:

2.1             
Organization, Good Standing and Qualification. The Company is corporation duly organized, validly existing and in good standing
under the laws of the State of Nevada and has full corporate power and authority to conduct its business.

2.2             
Authorization; Enforceability. The Company has all corporate right, power and authority to enter into this Agreement and
to consummate the transactions contemplated hereby. All corporate action on the part of the Company necessary for the (a) authorization
execution, delivery and performance of this Agreement by the Company; and (b) authorization, sale, issuance and delivery of the
Units and the underlying securities contemplated hereby and the performance of the Company’s obligations hereunder has been
taken. This Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms, subject to laws of general application relating to
bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable
remedies, and to limitations of public policy. 

2.3             
No Conflict; Governmental Consents. (a) The execution and delivery by the Company of this Agreement and the consummation
of the transactions contemplated hereby will not result in the violation of any material law, statute, rule, regulation, order,
writ, injunction, judgment or decree of any court or governmental authority to or by which the Company is bound, or of any provision
of the Certificate of Incorporation or the Bylaws of the Company, and will not conflict with, or result in a material breach or
violation of, any of the terms or provisions of, or constitute (with due notice or lapse of time or both) a default under, any
material lease, loan agreement, mortgage, security agreement, trust indenture or other agreement or instrument to which the Company
is a party or by which it is bound or to which any of its properties or assets is subject, nor result in the creation or imposition
of any lien upon any of the properties or assets of the Company.

(b)No
consent, approval, authorization or other order of any governmental authority is required to be obtained by the Company in connection
with the authorization, execution and delivery of this Agreement or with the authorization, issue and sale of the Units, except
such filings as may be required to be made with the SEC, FINRA and with any state or foreign blue sky or securities regulatory
authority.

		III.	TERMS OF SUBSCRIPTION

3.1             
All funds paid hereunder shall be deposited with the Company in the account identified in Section 1.1 hereof. 

3.2             
At any time on or after the date hereof, the Company may conduct a closing of the purchase and sale of the Units (a “Closing”)
and may conduct subsequent Closings on an interim basis until the earlier of: (A) that date upon which subscriptions for the Maximum
Offering have been received and accepted by the Company, (B) [*], subject to a 30-day extension at the option of the Company or
(C) that date upon which the Offering is terminated by the Company. 

3.3             
The Subscriber understands and agrees that the Company reserves the right to reject this subscription, in whole or part
in any order at any time prior to the Closing for any reason, notwithstanding the Subscriber’s prior receipt of notice of
acceptance of the Subscriber’s subscription.

    	A-3 

    	 

    

3.4             
Pending any Closings, all funds paid hereunder shall be deposited by the Company in the account identified in Section 1.1
hereof. The Subscriber acknowledges and agrees that this Agreement and any other documents delivered in connection herewith will
be held by the Company. In the event that this Agreement is not accepted by the Company for whatever reason, which the Company
expressly reserves the right to do, this Agreement, the purchase price received (without interest thereon) and any other documents
delivered in connection herewith will be returned to the Subscriber at the address of the Subscriber as set forth in this Agreement.
If this Agreement is accepted by the Company, the Company is entitled to treat purchase price received as an interest free loan
to the Company until such time as the subscription is accepted.

		IV.	REGISTRATION RIGHTS

4.1             
MGLT will file a Registration Statement of Form S-1 with the Commission to register both the Common Stock and shares of
Common Stock underlying the Warrants. The Registration Statement on Form S-1 will be filed within 30 days of the initial closing.

		V.	MISCELLANEOUS

5.1             
Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified
mail, return receipt requested, or delivered by hand against written receipt therefor, addressed as follows:

	if to the Company, to it at:	
        Magnolia Solar
        Corporation

        3333 Pinnacle
        Hills Parkway, Suite 220

        Rogers, Arkansas
        72758

        Attention: Randy
        May

	
         

        with
        a copy to (which shall not constitute notice):
	
         

        Sichenzia Ross
        Friedman Ference LLP

        61 Broadway, 32nd
        Floor

        New York, NY 10006

        Re: Magnolia Solar Corporation

if
to the Subscriber, to the Subscriber’s address indicated on the signature page of this Agreement.

Notices
shall be deemed to have been given or delivered on the date of mailing, except notices of change of address, which shall be deemed
to have been given or delivered when received.

5.2             
Except as otherwise provided herein, this Agreement shall not be changed, modified or amended except by a writing signed
by the parties to be charged, and this Agreement may not be discharged except by performance in accordance with its terms or by
a writing signed by the party to be charged.

5.3             
This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal
representatives, successors and assigns. This Agreement sets forth the entire agreement and understanding between the parties as
to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature
among them.

5.4             
Upon the execution and delivery of this Agreement by the Subscriber, this Agreement shall become a binding obligation of
the Subscriber with respect to the purchase of the Units as herein provided, subject, however, to the right hereby reserved by
the Company to enter into the same agreements with other Subscribers and to add and/or delete other persons as Subscribers.

    	A-4 

    	 

    

5.5             
NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE
THAT ALL THE TERMS AND PROVISIONS HEREOF SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF FLORIDA
WITHOUT REGARD TO SUCH STATE’S PRINCIPLES OF CONFLICTS OF LAW. IN THE EVENT THAT A JUDICIAL PROCEEDING IS NECESSARY, THE
SOLE FORUM FOR RESOLVING DISPUTES ARISING OUT OF OR RELATING TO THIS AGREEMENT IS THE STATE COURTS LOCATED IN THE STATE OF FLORIDA
OR THE FEDERAL COURTS FOR SUCH STATE, AND ALL RELATED APPELLATE COURTS, THE PARTIES HEREBY IRREVOCABLY CONSENT TO THE JURISDICTION
OF SUCH COURTS AND AGREE TO SAID VENUE. 

5.6             
In order to discourage frivolous claims the parties agree that unless a claimant in any proceeding arising out of this Agreement
succeeds in establishing his claim and recovering a judgment against another party (regardless of whether such claimant succeeds
against one of the other parties to the action), then the other party shall be entitled to recover from such claimant all of its/their
reasonable legal costs and expenses relating to such proceeding and/or incurred in preparation therefor.

5.7             
The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall
not affect any other provision of this Agreement, which shall remain in full force and effect. If any provision of this Agreement
shall be declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part,
such provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent with applicable law
and the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable
to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any other covenant or provision
unless so expressed herein.

5.8             
It is agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed,
as a waiver of any subsequent breach by that same party.

5.9             
The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and
further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.

5.10         
This Agreement may be executed in two or more counterparts each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument. In the event that any signature is delivered by facsimile transmission or by e-mail
delivery of a ".pdf" format data file, such signature shall create a valid and binding obligation of the party executing
(or on whose behalf such signature is executed) with the same force and effect as if such facsimile or ".pdf" signature
page were an original thereof.

5.11         
Nothing in this Agreement shall create or be deemed to create any rights in any person or entity not a party to this Agreement.

    	A-5 

    	 

    

 

		VI.	CONFIDENTIAL INVESTOR QUESTIONNAIRE

6.1             
The Subscriber represents and warrants that he, she or it comes within one category marked below, and that for any category
marked, he, she or it has truthfully set forth, where applicable, the factual basis or reason the Subscriber comes within that
category. ALL INFORMATION IN RESPONSE TO THIS SECTION WILL BE KEPT STRICTLY CONFIDENTIAL. The Subscriber acknowledges the significance
to the Company of the foregoing representations and answers contained in the Confidential Investor Questionnaire contained in this
Article VI and such answers have been provided under the assumption that the Company will rely on them. The undersigned agrees
to furnish any additional information which the Company deems necessary in order to verify the answers set forth below.

 

	Category
A ___ 	 	The
Subscriber is (i) an individual (not a partnership, corporation, etc.) whose individual net worth, or joint net worth with his
or her spouse, presently exceeds $1,000,000, exclusive of the value of his or her primary residence or (ii) a self-directed retirement
account (“Retirement Account”) whose participant’s net worth (or joint net worth with his or her spouse) presently
exceeds $1,000,000.

Explanation:
In calculating net worth you may include equity in personal property and real estate, including your principal residence, cash,
short-term investments, stock and securities. Equity in personal property and real estate should be based on the fair market value
of such property less debt secured by such property.

	 	 	 
	Category
B ___	 	The
Subscriber is (i) an individual (not a partnership, corporation, etc.) who had an income in excess of $200,000 in each of the
two most recent years, or joint income with his or her spouse in excess of $300,000 in each of those years and has a reasonable
expectation of reaching the same income level in the current year or (ii) a Retirement Account and the Retirement Account participant
meets the tests in clause (i).
	 	 	 
	Category
C ___	 	The Subscriber is a director or executive officer of the Company which is issuing and selling the Units.
	 	 	 
	Category
D ___	 	The
Subscriber is a bank; a savings and loan association; insurance company; registered investment company; registered business development
company; licensed small business investment company (“SBIC”); or employee benefit plan within the meaning of Title
1 of ERISA and (i) the investment decision is made by a plan fiduciary which is either a bank, savings and loan association, insurance
company or registered investment advisor, or (ii) the plan has total assets in excess of $5,000,000 or (iii) is a self directed
plan with investment decisions made solely by persons that are accredited investors. (describe entity):
	 	 	 
	 	 	 
	Category
E ___	 	The
Subscriber is a private business development company as defined in section 202(a)(22) of the Investment Advisors Act of 1940.
(describe entity)
	 	 	 
	 	 	 
	Category
F ___	 	The
Subscriber is either a corporation, partnership, Massachusetts business trust, or non-profit organization within the meaning of
Section 501(c)(3) of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the Units and with
total assets in excess of $5,000,000. (describe entity)
	 	 	 
	 	 	 
	Category G  	 	The
Subscriber is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Units, where
the purchase is directed by a “sophisticated investor” as defined in Regulation 506(b)(2)(ii) under the Act.
	 	 	 
	Category
H ___	 	The
Subscriber is a revocable trust and the grantor is an accredited investor (describe entity) (please provide the information described
beneath Category A or Category B above for each accredited investor) :
	 	 	 
	 	 	 
	Category
I ___	 	The
Subscriber is an entity (other than a trust) in which all of the equity owners are “accredited investors” within one
or more of the above categories. If relying upon this Category alone, each equity owner must complete a separate copy of this
Agreement and the information described beneath Category A or Category B above. (describe entity)
	 	 	 
	 	 	 
	Category
J ___	 	 The Subscriber is not within any of the categories above and is therefore not an accredited investor.
	 	 	 

The Subscriber agrees that the undersigned
will notify the Company at any time on or prior to the closing in the event that the representations and warranties in this Agreement
shall cease to be true, accurate and complete.

    	A-6 

    	 

    

 

6.2               
SUITABILITY (please answer each question)

(a)For all Subscribers,
please state whether you have participated in other private placements before:

YES_______NO_______

(b)Please indicate
frequency of such prior participation in the investments listed below:

	 	Public Companies	 	Private Companies
	Frequently	________________________	 	________________________
	Occasionally	________________________	 	________________________
	Never	________________________	 	________________________

(c)For all Subscribers,
are you familiar with the risk aspects and the non-liquidity of investments such as the Units for which you seek to subscribe?

YES_______NO_______

6.3               
FINRA AFFILIATION.

Are you affiliated
or associated with an FINRA member firm (please check one):

Yes _________No
__________

If Yes, please describe:

_____________________________________________________________________________________

*If Subscriber is
a Registered Representative with an FINRA member firm, have the following acknowledgment signed by the appropriate party:

The undersigned
FINRA member firm acknowledges receipt of the notice required by Article 3, Sections 28(a) and (b) of the Rules of Fair Practice.

_________________________________

Name of FINRA Member Firm

	 	By: _______________________	 	By: _______________________
	 	Authorized Officer	 	 
	 	 	 	 

    	A-7 

    	 

    

 

NUMBER OF UNITS
_______________ X $4.00= $______________

 

Dated: _____________, 2016

 

	 	 	 
	Signature	 	Signature
(if purchasing jointly)
	 	 	 
	Name Typed or Printed	 	Name Typed or Printed
	 	 	 
	Title (if Subscriber is
an Entity)	 	Title (if Subscriber is
an Entity)
	 	 	 
	Entity Name (if applicable)	 	Entity Name (if applicable)
	 	 	 
	Address	 	Address
	 	 	 
	City, State and Zip Code	 	City, State and Zip Code
	 	 	 
	Telephone	 	Telephone
	 	 	 
	Facsimile	 	Facsimile
	 	 	 
	E-Mail	 	E-Mail
	 	 	 
	Tax ID # or Social
Security # 	 	Tax ID # or Social
Security # 
	 	 	 

 

Name in which securities
should be issued: _________________________________________

Manner in which title
is to be held: (check only one)

0
Individual Ownership

	Joint Subscription:	 	Entity 
	 	 	 
	☐
 Community Property	 	

☐ Partnership

	☐  Joint Tenant with Right of Survivorship (JTWRS)	 	
☐ Company
	☐  Tenants in Common (TIC)	 	☐ Self-Directed Retirement Account
	☐  Tenants by Entirety (TBE)	 	
☐ Trust
		 	☐ Other
	(If Securities are being subscribed for as a joint subscription, both parties must sign.)	 	(Complete Cert. of Signatory–Annex A)

 

This Subscription Agreement is agreed to
and accepted as of ________________, 2016.

  

	 	Magnolia Solar
Corporation
	 	 
	 	By: 	
	 	 	Name: Randy May
Title:Chief Executive
Officer

 

    	A-8 

    	 

    

 

ANNEX A TO EXHIBIT
A

CERTIFICATE OF SIGNATORY

 

(To be completed if the Units
are

being subscribed for by an
entity)

 

 

I, __________________________________,
am the _________________________________ of

 

__________________________________________
(the “Entity”).

 

I certify that I am empowered
and duly authorized by the Entity to execute and carry out the terms of the Subscription Agreement and to purchase and hold the
Units, and certify further that the Subscription Agreement has been duly and validly executed on behalf of the Entity and constitutes
a legal and binding obligation of the Entity.

 

IN WITNESS WHEREOF, I have
set my hand this ________ day of _________________, 2016

 

 

_______________________________________

(Signature)

 

 

    	A-9

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