Document:

Amendment No. 1 to the Letter Agreement - New United Motor Manufacturing, Inc.

  
 Exhibit 10.3

  

			
	[LOGO]	  	CONFIDENTIAL — This document was developed at private expense and includes trade secrets and commercial or financial information, or both, that Tesla
Motors, Inc. considers privileged, confidential, and exempt from disclosure under the Freedom of Information Act (5 USC § 552(b)).

 June 15, 2010 
 Mr. John DiDonato 

President 
 New United Motor Manufacturing,
Inc. 
 45500 Fremont Boulevard 

Fremont, California 94538-6368 

Re: Amendment No. 1 to Letter Agreement 
 Dear John: 
 This letter (“Amendment No. 1”) amends and adds
additional terms to the Letter Agreement dated May 26, 2010 under which Tesla Motors, Inc. has agreed to purchase and NUMMI has agreed to sell the NUMMI manufacturing plant and associated land in Fremont, California. Such amended and additional
terms are as follows: 
 1. Waiver of Termination Right. NUMMI hereby waives its right to terminate the Letter
Agreement pursuant to terms set forth in the second sentence of Section 2(c)(ii) in the Letter Agreement. 
 2.
Removal of Equipment. The last sentence of Section 4(b)(iii)(2) of the Letter Agreement is replaced with the following sentence: 
 Upon 2 months advance notice which Buyer shall give no later than August 1, 2010 that specified equipment owned by Seller will interfere with Buyer’s Model S manufacturing operations, such
equipment will be removed by Seller by March 31, 2011, except as the parties may agree otherwise in writing. 
 3.
Access by NUMMI. The first four sentences of Section 4(b)(v)(1) of the Letter Agreement are replaced with the following three sentences: 
  

	 	(1)	 Seller shall have an irrevocable license to enter onto the Property for the period commencing on the Closing and ending on March 31, 2011, except
as the parties may otherwise agree, upon prior notice (including the names of individuals proposed to enter) and agreement by Buyer, which shall not be unreasonably withheld; provided, however that such

  
  

CONFIDENTIAL: Contains proprietary commercial / financial information and / or trade secrets. Do not release under FOIA. 

			
	[LOGO]	  	CONFIDENTIAL — This document was developed at private expense and includes trade secrets and commercial or financial information, or both, that Tesla Motors, Inc.
considers privileged, confidential, and exempt from disclosure under the Freedom of Information Act (5 USC § 552(b)).

  

	 	 
access by Seller will not be unreasonably interfere with Buyer’s operations. The license fee shall be $1.00 for the entire license term. Seller agrees that the license will terminate
March 31, 2011, except as the parties may otherwise agree. 

 All other terms of the Letter Agreement
will remain in full force and effect. Please confirm that the foregoing terms are acceptable to NUMMI and countersign one copy of this Amendment No. 1 and return to Tesla. We appreciate your assistance. 

 

			
	Sincerely,
	
	Tesla Motors, Inc.
		
	By:	 	 /s/ Mike Taylor

		 	Mike Taylor
		 	VP, Finance

  

	
	ACCEPTED AND AGREED TO AS OF JUNE 15, 2010
	
	New United Motor Manufacturing, Inc.
	
	By: /s/ John C.
DiDonato                                        

	
	Printed: John C.
DiDonato                                      

  
  

CONFIDENTIAL: Contains proprietary commercial / financial information and / or trade secrets. Do not release under FOIA. 

-2-Amendment No. 2 to the Letter Agreement - New United Motor Manufacturing, Inc.

 Exhibit 10.4 

 
  
 From: Diarmuid O’Connell 
 Sent: Friday, October 01, 2010 11:39 PM 

To: jdidonato@huronconsultinggroup.com; Mike Taylor 
 Cc: KMcKenzie@nummi.com; jbeard@huronconsultinggroup.com; [Email address intentionally omitted.]; [Email address intentionally omitted.]; jpotts@nummi.com; PAitelli@mofo.com; HKang@mofo.com;
MSteel@mofo.com; charding@telsamotors.com; dedwards@nummi.com; 
 Deepak Ahuja 
 Subject: RE: Letter Agreement Extension 
 John - 

Acknowledged and agreed. 
 Best, Diarmuid

 From: jdidonato@huronconsultinggroup.com [mailto:jdidonato@huronconsultinggroup.com] 

Sent: Friday, October 01, 2010 11:36 PM 

To: Diarmuid O’Connell; Mike Taylor 
 Cc:
KMcKenzie@nummi.com; jbeard@huronconsultinggroup.com; 
 [Email address intentionally omitted.]; [Email address intentionally omitted.];
jpotts@nummi.com; PAitelli@mofo.com; 
 HKang@mofo.com; MSteel@mofo.com; charding@telsamotors.com; dedwards@nummi.com 

Subject: Letter Agreement Extension 
 Diarmuid
and Mike: 
 Please acknowledge and agree to the below by return email: 
 Re: Letter Agreement dated May 26, 2010 by and between New United Motor Manufacturing, Inc., a California corporation (“Seller”), and Tesla Motors, Inc., a Delaware corporation
(“Buyer”) (the “Original Letter Agreement”), as amended by that certain Amendment No. 1 to Letter Agreement dated June 15, 2010 (“Amendment No. 1”, and together with the Original Letter Agreement, the
“Letter Agreement”). Except as otherwise defined herein, all capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Letter Agreement. 

The parties hereby agree that the Closing Date, as originally defined in Section 4(a) of the Letter Agreement, is hereby amended such that the
Closing Date shall be October 8, 2010, or such 

 
other earlier date as Buyer and Seller may mutually agreed upon in writing. Nothing in this paragraph shall be construed as Seller waiving any rights or remedies Seller may have under the Letter
Agreement in the event Buyer fails to consummate the Closing by the Closing Date or that Seller is agreeing in advance to an extension of the Closing Date beyond the extension provided in this paragraph. 

John C. DiDonato 
 President and Chief
Restructuring Officer 
 NUMMI 
 Cell
phone: [Intentionally omitted.] 
 Email address: jdidonato@huronconsultinggroup.com 
 DISCLAIMER: 
 The information transmitted in this e-mail message and attachments, if any, may be
attorney-client information, including privileged and confidential matter, and is intended only for the use of the individual or entity named above. Distribution to, or review by, unauthorized persons is strictly prohibited. All personal messages
express views solely of the sender, which are not to be attributed to any organization. If you have received this transmission in error, immediately notify the sender and permanently delete this transmission including attachments.Amendment No. 3 to the Letter Agreement - New United Motor Manufacturing, Inc.

 Exhibit 10.5 
 From: jdidonato@huronconsultinggroup.com [mailto:jdidonato@huronconsultinggroup.com] 
 Sent:
Friday, October 08, 2010 6:40 PM 
 To: diarmuid@teslamotors.com Cc: mike@teslamotors.com; KMcKenzie@nummi.com; [Email address intentionally
omitted.]; jbeard@huronconsultinggroup.com; PAitelli@mofo.com; HKang@mofo.com; MSteel@mofo.com; 
 mike@teslamotors.com; Halpern, Sheldon;
deepak@teslamotors.com; Reed, Leslie D.; 
 james@teslamotors.com 
 Subject: RE: TESLA - Extension 
 Diarmuid: 

Acknowledged, 
 John 

From: Diarmuid O’Connell [mailto:diarmuid@teslamotors.com] 
 Sent: Friday, October 08, 2010 9:37 PM 
 To: John DiDonato 

Cc: Mike Taylor; KMcKenzie@nummi.com; [Email address intentionally omitted.]; Jeffrey Beard; 
 PAitelli@mofo.com; HKang@mofo.com; MSteel@mofo.com; Mike Taylor; Halpern, Sheldon; 
 Deepak Ahuja;
Reed, Leslie D.; James Chen 
 Subject: RE: TESLA - Extension 
 John - 
 Acknowledged and agreed. 
 Diarmuid 
 From: jdidonato@huronconsultinggroup.com
[mailto:jdidonato@huronconsultinggroup.com] 
 Sent: Friday, October 08, 2010 6:12 PM 

To: Diarmuid O’Connell 
 Cc: Mike Taylor;
KMcKenzie@nummi.com; [Email address intentionally omitted.]; jbeard@huronconsultinggroup.com; PAitelli@mofo.com; HKang@mofo.com; MSteel@mofo.com 

Subject: TESLA - Extension 
 Diarmuid:

 Please acknowledge and agree to the below by return email: 

Re: Letter Agreement dated May 26, 2010 by and between New United Motor Manufacturing, Inc., a California corporation (“Seller”), and
Tesla Motors, Inc., a Delaware corporation (“Buyer”) (the “Original Letter Agreement”), as amended by that certain Amendment No. 1 to Letter Agreement dated June 15, 2010 (“Amendment No. 1” ), as amended
by that certain e-mail agreement extending the Closing Date dated October 1, 2010 (“Amendment No. 2”, and together with the Original Letter Agreement and Amendment No. 1, the “Letter Agreement”). Except as
otherwise defined herein, all capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Letter Agreement. 
 The parties hereby agree that the Closing Date, as originally defined in Section 4(a) of the Original Letter Agreement, is hereby amended such that the Closing Date shall be October 13, 2010, or
such other earlier date as Buyer and Seller may mutually agreed upon in writing. Nothing in this paragraph shall be construed as Seller waiving any rights or remedies Seller may have under the Letter Agreement in the event Buyer fails to consummate
the Closing by the Closing Date or that Seller is agreeing in advance to an extension of the Closing Date beyond the extension provided in this paragraph. 
 John C. DiDonato 
 President and Chief Restructuring Officer 

NUMMI 
 Cell phone: [Intentionally omitted.]

 Email address: jdidonato@huronconsultinggroup.com 
 DISCLAIMER: 
 The information transmitted in this e-mail message and attachments, if any, may be
attorney-client information, including privileged and confidential matter, and is intended only for the use of the individual or entity named above. Distribution to, or review by, unauthorized persons is strictly prohibited. All personal messages
express views solely of the sender, which are not to be attributed to any organization. If you have received this transmission in error, immediately notify the sender and permanently delete this transmission including attachments. 

DISCLAIMER: 
 The information transmitted in
this e-mail message and attachments, if any, may be attorney-client information, including privileged and confidential matter, and is intended only for the use of the individual or entity named above. Distribution to, or review by, unauthorized
persons is strictly prohibited. All personal messages express views solely of the sender, which are not to be attributed to any organization. If you have received this transmission in error, immediately notify the sender and permanently delete this
transmission including attachments.

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