Document:

EX-10.1

 Exhibit 10.1 

Confidential Treatment Requested by Tesla Motors, Inc. 
  

 
 AMENDMENT TO GIGAFACTORY GENERAL
TERMS 
 This amendment (“Amendment”) is entered into effective as of December 1, 2015 (the “Effective
Date”), by and between Tesla Motors, Inc. (“Tesla”), on the one hand, and Panasonic Corporation and Panasonic Energy Corporation of North America (collectively, “Panasonic”), on the other hand (Tesla and
Panasonic are referred to collectively herein as the “Parties”) in connection with the General Terms and Conditions dated October 1, 2014, by and between the Parties (the “General Terms”) and the Production Pricing
Agreement dated September 30, 2014, by and between the Parties (the “Pricing Agreement”). Terms used herein with initial capitalization have the meanings specified where used or in the General Terms. In consideration of
the mutual promises and mutual covenants set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree to amend the General Terms as follows: 

 

	1.	Section 6.4 (Debarment) of the General Terms is amended and restated in its entirety as follows: 

6.4 Debarment. During the Term, Seller represents and warrants that: (a) it (and its Affiliates) shall not be debarred,
suspended, excluded or disqualified from doing business with the United States Government or listed on the Excluded Parties List System maintained by the General Services Administration of the United States Government (found at www.epls.gov);
(b) Seller and, unless Seller is a listed entity in a stock exchange market in the US or Japan (or any country with similar listing requirements), each person or entity owning an interest in Seller shall not be at any time during the term of
the Contract, and each has never been, a Person with which U.S. Persons are prohibited from transacting business of the type contemplated by the Contract or with which U.S. Persons must either limit their interactions to types approved by the Office
of Foreign Assets Control, Department of the Treasury (“OFAC”), whether by Law, executive order, trade embargo, economic sanction, lists published by OFAC, or otherwise (such Persons are “Specially Designated Nationals and
Blocked Persons”); (c) none of the funds or other assets of Seller constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person; (d) unless Seller is a listed entity in a stock exchange market
in the US or Japan (or any country with similar listing requirements), no Embargoed Person has any interest of any nature, direct or indirect, in Seller; (e) none of the funds of Seller have been derived from any unlawful activity with the
result that either business with Seller is prohibited by Law or the Contract is in violation of Law; (f) Seller has implemented procedures, and will consistently apply those procedures, to ensure, using best efforts, the foregoing
representations and warranties remain true and correct at all times; (g) Seller will not use funds from any “Prohibited Person” (as such term is defined in the September 24, 2001 Executive Order Blocking Property and Prohibiting
Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism) to make any payment due to Tesla under these General Terms, the Factory Lease, or any Contract Document, and shall take such measures as are necessary to ensure that any
funds used to pay amounts due to Tesla hereunder are derived (i) from transactions that do not violate United States Law and, to the extent such funds originate outside the United States, do not violate the Laws of the jurisdiction in which
they originated, and (ii) from permissible sources under United States Law and, to the extent such funds originate outside the United States, under the Laws of the jurisdiction in which they originated; and (h) Seller: (i) is not
under investigation by any governmental authority for, nor has it been charged with, or convicted of, money laundering, drug trafficking, terrorist-related activities, any crimes which in the United States would be predicate crimes to money
laundering, or any violation of any Anti-Money Laundering Laws; (ii) has not 

  
  

			
		
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been assessed civil or criminal penalties under any Anti-Money Laundering Laws; or (iii) has not had any of its funds seized or forfeited in any action under any Anti Money Laundering
Laws. Seller agrees to immediately notify Tesla in writing in the event Seller breaches any of the preceding representations and warranties or has reason to believe that it will become in breach of any of the preceding representations and
warranties. A breach of any representation or warranty under this Section shall be deemed a Default under the Contract for which Tesla may immediately terminate the Contract without being required to provide notice or permit Seller to cure such
Default. 
  

	2.	Section 11.1(a) (Factory Lease) of the General Terms is amended and restated in its entirety as follows: 

(a) Tesla shall, at its cost and expense and as a Tesla Responsibility, procure the land and construct buildings thereon to be used as the
Factory. Upon completion of construction of the Factory, the Parties shall negotiate in good faith, finalize and sign a lease setting forth the terms and conditions of Seller’s lease rights at the Factory (the “Factory
Lease”). The Factory Lease shall: (i) provide that Tesla will provide Seller with sufficient space and utilities for Seller to enable to perform its obligations under these General Terms and the Contract(s); (ii) specify
[***] pursuant to the Pricing Agreement; (iii) [***]; (iv) specify that [***], unless otherwise provided in this General Terms; (v) describe the area(s) leased to Seller to be used for Seller’s manufacturing of Goods at the Factory;
(vi) define each Party’s financial and other responsibilities for utilities (e.g. gas, electric, water and treatment of waste water); (vii) specify that the Factory Lease will be subject to any restrictions generally applicable to the
Factory and/or Tesla’s real property; (viii) allocate responsibility between the Parties for environmental aspects of the Utilities (defined below); and (ix) include terms and conditions consistent with those set forth in this Section
11 and in the Pricing Agreement. If Tesla does not tender possession of the Premises (as that term is defined in the Factory Lease) to Seller on or prior to the Commencement Date (as that term is defined in the Factory Lease), Seller may
terminate these General Terms and the remaining portion(s) of any Contract and the Factory Lease without any liability whatsoever to Tesla. The Parties may extend the Commencement Date by mutual written agreement. 

 

	3.	A new Section 11.1(g) is added to the General Terms as follows: 

 (g) The terms and conditions
of Seller’s lease at the Factory (the “Factory Lease”) are attached as Exhibit 2 – Factory Lease to these General Terms. 
  

	4.	Section 11.3 (Extension of Lease) of the General Terms is deleted and replaced in its entirety as follows: 

  

	 	11.3	Extension of Lease. Following expiration or termination of these General Terms, Seller shall be entitled to extend the duration of the Factory Lease as follows: 

 

	 	(a)	If Tesla terminates these General Terms for Seller’s Default or the Factory Lease for Tenant’s Lease Default, Seller may continue its lease rights for [***]. Seller shall [***] in accordance with the
Factory Lease [***] and Seller shall [***].

  

	 	(b)	 If (i) these General Terms expire; or (ii) in the event of a termination of these General Terms and/or the
Factory Lease for force majeure by either Party or termination for a Change of Control Event affecting the other Party, Seller may continue its lease rights for the longer of the remaining Lease Term (if applicable) or [***]. Seller shall [***]
in accordance with the Factory Lease [***] and the Parties shall negotiate in good faith a potential extension of the Factory Lease. In case of termination for force majeure or for Change of Control by either Party, Tesla shall be responsible
for [***]; provided, however, that Tesla will have sole financial responsibility with respect to any Tesla-Supplied Items and/or Utilities which were 

  
  

			
		
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installed by Tesla (including the construction activities for which Tesla is solely responsible pursuant to the mutually-agreed matrix described in Section 11.1(c)). The Parties shall also,
in connection with any such expiration or termination, discuss in good faith [***]. In the case of expiration (but not in case of termination for force majeure or for Change of Control), Tesla acknowledges that it will be responsible for [***]
provided that (i) Seller has used best efforts to [***], (ii) [***] are mutually agreed in writing and in advance; provided, however, that such Tesla’s approval shall not be unreasonably withheld, delayed or conditioned, and
(iii) Tesla shall not be responsible for any such [***]. Tesla will provide an estimated cost or profit for [***], and Seller will determine whether to [***]. Seller shall have financial responsibility for [***] if it chooses to
[***]; provided, however, that Tesla shall pay Seller [***]. If Seller chooses to [***], Seller shall not be obligated to [***]. If Seller chooses to [***], Tesla shall bear [***], and if [***], Tesla will [***]. If Seller fails to
[***], Seller will be deemed to have [***] and Tesla will [***] in its sole discretion and at Tesla’s sole expense or profit. For avoidance of doubt, Seller shall have no liability for Tesla’s failure to [***] in connection with any
such [***]. In no event shall Tesla sell, lease, assign or otherwise transfer such Seller’s Property to any third party other than for [***]. Except as set forth in this paragraph, each Party shall be responsible for its own costs and
expenses related to such expiration or termination. 

  

	 	(c)	If Seller terminates these General Terms for Tesla’s Default or the Factory Lease for Tesla’s Lease Default, Seller may: (i) elect to continue its lease rights for [***] without [***] and Seller may [***] and,
if applicable, [***]; and (ii) [***] the following [***], which will be considered [***] for purposes of Section 12.1(f) to these General Terms: [***]. 

  

	 	(d)	If Seller terminates these General Terms and the Contract(s) due to a Change of Control Event with respect to Tesla, Seller may, in its sole discretion and in addition to the remedies contemplated in Section 11.3(b),
choose to continue its lease rights for [***]. 

  

	5.	Section 13.3(a) (Termination) of the General Terms is amended and restated in its entirety as follows: 

(a) if the other Party breaches a material obligation under these General Terms, the Factory Lease, and/or the Contract and fails to cure
the breach within [***] days after receipt of notice of such breach expressly stating the non-breaching Party’s intent to terminate (“Notice of Termination”) or, if the breach cannot reasonably be cured within such [***]-day period,
[***] days after receipt of Notice of Termination; 
  

	6.	A new Section 13.3(f) (Termination) of the General Terms is added as follows: 

 (f) Subject
to Section 11.3 (Extension of Lease) of these General Terms, these General Terms and all Contracts shall automatically expire without any further action by the Parties upon expiration of the Factory Lease. 

 

	7.	Section 16.17 (Defined Terms) is amended to include the following as new subsections: 

(bb) “Anti-Money Laundering Laws” shall mean all applicable Laws that: (a) limit the use of and/or seek the
forfeiture of proceeds from illegal transactions; (b) limit commercial transactions with designated countries or individuals believed to be terrorists, narcotics dealers or otherwise engaged in activities contrary to the interests of the United
States; (c) require identification and documentation of the parties with whom a Financial Institution conducts business; or (d) are designed to disrupt the flow of funds to terrorist organizations. Such Laws, regulations and sanctions
shall be deemed to include, without 

  
  

			
		
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limitation, the USA PATRIOT Act of 2001, Pub. L. No. 107-56, the Bank Secrecy Act of 1970, as amended, 31 U.S.C. Section 5311 et seq., the Trading with the Enemy Act, 50 U.S.C. App.
Section 1 et seq., the International Emergency Economic Powers Act, 50 U.S.C. Section 1701 et seq., and the sanction regulations promulgated pursuant thereto by the OFAC, as well as Laws relating to prevention and detection of money
laundering in 18 U.S.C. Sections 1956 and 1957. 
 (cc) “Embargoed Person” means any person, entity or government
subject to trade restrictions under U.S. Law, including any Anti-Money Laundering Laws and any Executive Orders or regulations promulgated thereunder, with the result that either business with Seller is prohibited by Law or the Contract is in
violation of Law. 
  

	8.	The attachment hereto entitled, “Exhibit 2 – Factory Lease,” shall be added as Exhibit 2 to the General Terms and become an integral part thereof. 

 

	9.	The following Section in the General Terms shall be amended and restated as follows: 

  

			
	 Section
	 	 Text

		
	12.1(f)(vi)	 	“amounts for which a Party is expressly responsible pursuant to these General Terms (including Sections 2.4 (Tesla Responsibilities), 11.3 (Extension of Lease), and 13.4 (Obligations Upon Termination), the then-current Pricing
Agreement, the Factory Lease, and/or each Contract;”

  

	10.	A new Section 1(e) is added to the Pricing Agreement as follows: 

 (e) As a Tesla
Responsibility and during the Term, Tesla shall hold a safety stock consisting of [***], the “Safety Stock”). Tesla may use the Safety Stock to accommodate fluctuations in Tesla’s actual requirements, to mitigate potential
damages resulting from Seller’s failure or inability to deliver Goods in accordance with the Contract, and for other reasons as determined by Tesla from time to time. [***]. 

 

	11.	This Amendment, together with the General Terms and all documents referenced or incorporated therein, constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, both
oral and written, between the Parties. This Amendment may be executed in counterparts, each of which when so executed and delivered will be deemed an original, and all of which taken together will constitute one and the same instrument.

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 IN WITNESS WHEREOF, the Parties have executed this Amendment by persons duly authorized below: 

 

			
	Tesla Motors, Inc.
		
	By:	 	 /s/ Jeffrey B. Straubel

		
	Printed:	 	 Jeffrey B. Straubel

		
	Title:	 	 CTO & Co-Founder

		
	Date:	 	 March 1, 2016

 

			
	Panasonic Corporation
		
	By:	 	 /s/ Kenji Tamura

		
	Printed:	 	 Kenji Tamura

		
	Title:	 	 Vice President, AIS Company

		
	Date:	 	 February 23, 2016

  

			
	Panasonic Energy Corporation
of North America
		
	By:	 	 /s/ Masayuki Kitabayashi

		
	Printed:	 	 Masayuki Kitabayashi

		
	Title:	 	 President

		
	Date:	 	 January 19, 2016

 
 

  
  

			
		
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 EXHIBIT 2 – FACTORY LEASE 

This Factory Lease (“Lease”) is entered into effective as of December 1, 2015 (the “Effective Date”) by and between
Tesla Motors, Inc., a Delaware corporation located at 3500 Deer Creek Road, Palo Alto, California 94304 (“Tesla”), on the one hand, and Panasonic Energy Corporation of North America (“Tenant”), on the other hand,
with reference to the General Terms and Conditions entered into effective as of October 1, 2014 (“General Terms”) and the Production Pricing Agreement dated September 30, 2014 (“Pricing Agreement”), each
by and between Tesla, Panasonic Corporation (“Panasonic”) and Tenant. Terms used herein with initial capitalization have the meanings given where used, or in Section 13.19 hereof, in the General Terms, or in the Pricing
Agreement. 
 Basic Information 
  

			
	Factory:	  	The manufacturing facility owned by Tesla in Storey County, Nevada, as depicted in Appendix A-1, located at Electric Ave, Sparks, NV 89434.
		
	Land:	  	The real property on which the Factory is located, as described in Appendix A-1.
		
	Premises:	  	The portion of the Factory leased to Tenant hereunder, as more specifically set forth in Appendix A-2.
		
	Commencement Date:	  	December 1, 2015
		
	Production Date:	  	The date that Tenant begins to produce Goods in the Premises for the Purpose, which is currently forecast to occur on or around [***].
		
	Expiration Date:	  	As set forth in Section 11.1 below.
		
	[***]	  	[***].
		
	Purpose:	  	The manufacture, supply, and support of lithium-ion battery cells.

 The Parties have executed this Lease by persons duly authorized below: 

 

			
	Tesla Motors, Inc.
    
		
	By:	 	 /s/ Jeffrey B. Straubel

		
	Printed:	 	 Jeffrey B. Straubel

		
	Title:	 	 CTO & Co-Founder

		
	Date:	 	 March 1, 2016

 

			
	 Panasonic Energy Corporation

of North America

		
	By:	 	 /s/ Masayuki Kitabayashi

		
	Printed:	 	 Masayuki Kitabayashi

		
	Title:	 	 President

		
	Date:	 	 January 19, 2016

 
 

  
  

			
	Factory Lease	  	Page 1 of  1
6

	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 WHEREAS, Tesla, Panasonic and Tenant have entered into the General Terms, the Pricing
Agreement, and certain other agreements with respect to the Purpose (collectively, the “Commercial Agreements”), which Commercial Agreements contemplate that Panasonic and/or its Affiliates, including without limitation Tenant, will
perform the Purpose; and 
 WHEREAS, Tesla has purchased the Land, is currently constructing a manufacturing facility on the Land, and
intends to provide to Tenant sufficient space and utilities at such facility for the Purpose; 
 NOW, THEREFORE, the Parties
agree as follows: 
 1. Lease Rights and Obligations. 

1.1 Grant of Lease.
  

	 	(a)	Tesla leases to Tenant, and Tenant takes from Tesla, the Premises, to have and to hold for the Lease Term, subject to any superior liens or encumbrances and subject to the terms of this Lease and reserving and excepting
to Tesla the roof and provided that this Lease confers no rights either with regard to the subsurface of the Land below the ground level of the building or with regard to airspace above the roof of the Factory. Tenant’s rights under this
Lease include an exclusive right to use the Premises and a non-exclusive right to use all parking and other areas and all easements and rights benefiting the Premises. Tenant and its employees and business invitees shall be entitled to the
non-exclusive use of the Common Areas during the Lease Term, in common with Tesla and with other persons authorized by Tesla from time to time to use the Common Areas. Tesla shall tender possession of the Premises to Tenant in its
“as-is” condition as of the Commencement Date and, as a Tesla Responsibility, cause the Premises, the portions of the Factory pertinent to the Premises (including, without limitation, the Common Areas) and the corresponding exterior
portions of the Factory (including the parking areas and the driveways, alleys, landscape and grounds surrounding such portions of the Factory) to be in compliance with all applicable Laws as of the Production Date and during the Lease Term (except
to the extent of Tenant’s obligations with respect to the Premises). 

  

	 	(b)	The Parties shall discuss in good faith the general configuration of the Premises within the Factory as required for Tenant to accomplish the Purpose. On or after the Commencement Date: (i) Tenant may access
the Premises for (A) planning, measurement, construction and installation of improvements, fixtures, and customizations to the Premises including Factory Systems (collectively, the “Tenant Improvements”) which are approved in
writing by Tesla from time to time and required for Tenant to accomplish the Purpose, such approval to not unreasonably be withheld, delayed or conditioned, and (B) delivery, installation, and preparation of inventory and equipment as required
for Tenant to accomplish the Purpose; and (ii) (A) Tesla will provide reasonable, temporary restroom facilities for Tenant’s agents, contractors and employees; and (B) Tesla will provide without charge reasonable space for
temporary parking facilities for Tenant’s contractors and/or subcontractors for planning, measurement, construction and installation of Tenant Improvements and/or Tenant’s Property to the Premises, on the Land and/or within the
Factory. Tenant may, subject to Tesla’s reasonable safety instructions and policies, also access the Premises at no cost and expense to Tenant after the Effective Date but before the Commencement Date (the “Pre-Commencement
Date”), from time to time upon Tesla’s prior consent (which shall not be unreasonably withheld, delayed or conditioned) for the purpose of planning, measurement and other necessary preparation for Tenant Improvements and/or other
Tenant’s Property. Tenant shall complete and maintain all Tenant Improvements in a professional and workmanlike manner with reasonable quality materials. 

 

	 	(c)	Tenant acknowledges that this Lease and all rights granted hereunder are subject to any and all restrictions generally applicable to the Factory and/or the Land, including the CCR Rules.

 

	 	(d)	Notwithstanding anything to the contrary, Tesla shall not, during the Lease Term, lease the Premises to Tesla’s Affiliates or any other third party without Tenant’s prior written consent. 

 

	 	(e)	During the Lease Term, Tenant shall: (i) maintain a valid business license in the State of Nevada and all Permits required by the county, city, and/or town in which the Factory is located; and (ii) maintain
the Premises as its primary place of business for the Purpose. 

  
  

			
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	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 1.2 Use. During the Lease Term, Tenant shall: (a) use and occupy the Premises solely for the
Purpose and for no other purpose whatsoever, unless otherwise agreed in writing by Tesla; (b) not use the Premises in any manner that is disreputable, creates extraordinary fire or other hazards (with reference to the Purpose), or results in an
increased rate of insurance on the Factory or its contents (with reference to the Purpose); and (c) subject to Section 9.2, cause the Premises to comply with all applicable Laws (for avoidance of doubt, this obligation does not extend to areas
of the Land or Factory outside the Premises, except to the extent such areas are or become under Tenant’s control). Tenant may have access to the Premises 24 hours per day, 7 days per week. The Parties shall discuss in good faith and
sign a mutually-agreed matrix to describe each Party’s responsibility during the Lease Term for certain operational activities and/or maintenance in or around the Premises and/or Factory (hereinafter referred to as the “Responsibilities
Matrix”). 
 1.3 Utilities.
  

	 	(a)	Factory Utilities. Tesla shall, as a Tesla Responsibility, install, configure, maintain in good working order, and furnish the utilities and services to the Premises identified in
Appendix B (including installation, hook-up, delivery, and repair) (collectively, the “Factory Utilities”). Tesla may monitor Tenant’s use of the Factory Utilities, and Tenant shall [***] pursuant to
[***] of the General Terms, which is hereby incorporated by reference into, and forms an integral part of, this Lease provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of
applicability to this Lease. The Parties shall discuss Tenant’s use of the Factory Utilities in good faith as requested by Tesla, and the Parties shall discuss in good faith any requests by Tenant that Tesla assume responsibility for
additional utilities and services to the Premises.

  

	 	(b)	Tenant Utilities. Tenant shall, at its expense, install, configure, maintain, and/or procure the utilities and services to be solely used by Tenant and required for Tenant to accomplish the Purpose as
reasonably determined by Tenant (collectively, “Tenant Utilities”). As of the date of this Agreement, the Tenant Utilities shall be the utilities and services set forth in Appendix B as the Tenant Utilities. Tesla will use
Commercially Reasonable Efforts not to interfere with Tenant’s use of Tenant Utilities. Tesla shall not be responsible for providing any Tenant Utilities to Tenant. Tesla shall not be liable to Tenant for any interruption or failure
of service of any Tenant Utilities to the Premises from any cause whatsoever, except to the extent of Tesla’s gross negligence or willful misconduct, nor shall such interruption or failure constitute a constructive eviction or [***] or
affect the obligations of Tenant under this Lease or the General Terms in any other way whatsoever. If Tesla and/or any of its other tenants at the Factory desire to use any portion of the Tenant Utilities, the Parties shall discuss in good
faith the terms and conditions of the use, including but not limited to Tenant’s charges for such use. 

 1.4 Maintenance and
Repairs.  
  

	 	(a)	Tesla Responsibilities. During the Lease Term and as a Tesla Responsibility at no cost and expense to Tenant, Tesla will maintain, repair and, as necessary, replace: (i) the structure of the
Factory (including the structural elements of the roof, the roof membrane, the slab, the foundation, structural elements of the Factory (e.g. column, beam), and exterior walls of the Factory); and (ii) all portions of the Premises and/or
Factory not required to be maintained by Tenant under this Lease including the exterior portions of the Premises (e.g. the parking areas and the driveways, alleys, landscape and grounds surrounding the Factory), the Common Areas, Factory Systems not
installed by Tenant, and Factory Systems installed by Tenant for which Tesla is responsible for maintenance, repairs and/or replacement, if any and as agreed in writing by the Parties. The Tesla Responsibilities include, without limitation, the
following aspects of the Premises: utility lines serving the Premises inside the Premises; floor coverings; lighting; wiring; electrical; plumbing; HVAC ducts and related equipment; all locks and closing devices; all trade fixtures and similar
equipment; plate glass, all window sash, casement or frames, window cases, window frames, security grilles or similar enclosures; doors and door frames; Factory Systems as agreed in the Responsibilities Matrix (which may include fire alarms,
sprinkler systems for fire, fire proof doors; general air conditioning systems); and all items of repair, maintenance and improvement or reconstruction as may at any time or from time to time be required with respect to the Premises by any
governmental agency having jurisdiction. [***]. Tesla will use Commercially Reasonable Efforts not to interfere with Tenant’s use of the Premises during any such maintenance and repairs. 

 

	 	(b)	Tenant Responsibilities. During the Lease Term and at its cost and expense, Tenant shall repair, replace, and maintain the Premises and every part thereof in good and tenantable condition, subject to
reasonable wear and tear, including Tenant Improvements, air handling units in the dry room area(s) in the Premises, and all of Tenant’s signs; provided, however, that (i) the foregoing excludes the structural aspects of exterior walls,
roof, structural portions of the Premises and structural floor, and (ii) Tesla shall conduct maintenance and repairs as contemplated in Section 1.4(a) above. Tenant shall complete all maintenance and repair for which it is responsible in a
professional and workmanlike manner, with reasonable quality materials and in compliance with applicable Laws and insurance requirements. Tenant shall deposit all trash in a covered trash container. Tenant waives the benefits of any
current or future Law giving Tenant any rights or remedies as a result of the physical condition of the Premises and any and all rights to make repairs at Tesla’s expense or to terminate this Lease, except as expressly provided
herein.

  
  

			
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	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 1.5 Signs. Tenant may, at its cost, place its standard signs within the Premises, subject to
applicable Laws and Tesla Policies. At the end of the Lease Term, Tenant will remove its signs and spot repair, paint, and/or replace the Factory walls or surfaces to which its signs are attached. Tenant shall not place any other signs on or in the
Factory (other than the Premises) or any other portion of the Land without Tesla’s express, prior written consent. 
 1.6 Quiet
Enjoyment. For so long as Tenant is not in default under this Lease beyond any applicable cure period, Tenant will have, subject to the terms of this Lease, peaceful and quiet enjoyment of the Premises.

1.7 Tenant Personnel. Section 11.2 (Seller Personnel) of the General Terms is hereby incorporated by reference into, and forms an integral part
of, this Lease, provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease and such provision shall be deemed to include, for purposes of this Lease, any and all
visitors, employees, directors, officers, agents, servants, contractors, subcontractors and/or subtenants of Tenant or any Tenant Affiliate (collectively “Tenant Personnel”) when they are at the Factory, and assignees, and/or
successors of Tenant; provided, however, that: (a) Tenant shall not be obligated to comply with Section 11.2(a)(i) (legal right to work) for visitors who do not perform any work when they visit at the Factory; and (b) Tenant shall not
be obligated to comply with Section 11.2(b) (background checks) of the General Terms for visitors who do not perform any work when they visit at the Factory or for any employees, directors, or officers of a Tenant Affiliate. Tenant shall
require all Tenant Personnel who enter the Factory to agree in writing to maintain confidentiality of Tesla’s Confidential Information under terms no less protective than the terms of the NDA. 

1.8 Insurance.
  

	 	(a)	General. The Parties each agree that insurance policies obtained pursuant to this Section shall: (i) be held with one or more insurance companies rated A or better and having a financial size category
of VII or larger (both as determined by A.M. Best & Company), and licensed to do business in Storey County, Nevada; (ii) be primary and not contributory with any liability coverage held by the other Party or any Affiliate of the other
Party; (iii) provide for severability of interests; and (iv) to the extent possible, provide for a waiver of subrogation. Each Party shall provide the other with certificates of insurance and copies of insurance policies upon request
by the other Party. Each Party will use Commercially Reasonable Efforts to give the other Party at least [***] days’ prior written notice of any restrictive change, non-renewal or cancellation of any policy obtained pursuant to this
Section. Each Party will be responsible for all deductibles and retentions with regard to their respective insurance policies. 

  

	 	(b)	Landlord Insurance. During the Lease Term, Landlord shall obtain and maintain at its cost the following types and amounts of insurance coverage. Landlord may insure the Premises through a blanket policy
and, if Landlord does so, Landlord will allocate a reasonable portion of the premium to the Premises based on the insurer’s cost calculations. Further, subject to applicable Laws, Landlord may self-insure any of the foregoing insurance
requirements. 

  

	 	(i)	“special form” Property Insurance insuring the Factory and improvements to the Factory (including the Premises, but excluding Tenant’s Property and Tenant Improvements) at full replacement cost;

  
  

			
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	 	(ii)	Commercial General Liability in an amount of $5 million per occurrence covering the Common Areas of the Factory (but expressly excluding the Premises); and 

 

	 	(iii)	Worker’s Compensation & Employers’ Liability in an amount equal to the greater of $1 million per person and accident or the amount(s) required by applicable Laws of the State of Nevada. 

 

	 	(c)	Tenant Insurance. During the Lease Term, Tenant (i) shall obtain and maintain at its cost the types and amounts of insurance that are required by applicable Law or reasonably required by Landlord’s
insurance provider(s), and (ii) may obtain and maintain, in its sole discretion and at its sole cost and expense, the following types and amounts of insurance coverage.

 

	 	(i)	“special form” Property Insurance covering Tenant’s Property and Tenant Improvements, at full replacement cost; 

  

	 	(ii)	Commercial General Liability in an amount of [***] covering the Premises, [***]; 

  

	 	(iii)	Worker’s Compensation & Employers’ Liability with respect to Tenant Personnel in an amount equal to [***] or the amount(s) [***]; and 

 

	 	(iv)	Automobile Liability covering hired, owned and non-owned vehicles using standard ISO Business Auto policy or similar form, in an amount of [***]. 

2. Tesla Responsibilities 
 2.1 Section 2.4 (Tesla
Responsibilities) of the General Terms is incorporated by reference into, and forms an integral part of, this Lease, provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to
this Lease.
 2.2 As a Tesla Responsibility, Tesla shall: (a) maintain the Land; (b) construct the Factory; and (c) procure items for the
Premises and/or the Purpose as may be agreed in writing by the Parties. 
 3. [***] 

4. Representations and Warranties.
 4.1
General. Each Party represents and warrants that it (and its Affiliates to the extent applicable): (a) will perform all of its obligations under this Lease in a professional and workmanlike manner, consistent with industry standards
and in accordance with all of the terms of this Lease; and (b) has the right and ability to enter into, perform the obligations under and agree to the covenants contained in this Lease. Tenant further represents that: (c) each obligation
of any Tenant entity under this Lease is binding on all Tenant entities which are Parties to this Lease as if each such Tenant entity had agreed to the obligation. Tesla further represents that: (d) each obligation of any Tesla entity under
this Lease is binding on all Tesla entities which are Parties to this Lease as if each such Tesla entity had agreed to the obligation.
 4.2 Compliance
with Laws and Tesla Policies.
  

	 	(a)	Tenant will, at its cost and expense, obtain all necessary regulatory approvals, licenses, and permits (collectively, “Permits”) applicable to its business and comply with all Laws and Factory
Requirements applicable to its business or the performance of its obligations under this Lease, the General Terms, and/or the Contract Documents, as such Laws and/or Factory Requirements may be revised from time to time; provided, however, that the
Parties shall consult in good faith and reasonably cooperate to obtain the Permits required for Tenant’s business operations at the Premises. The foregoing includes all Laws pertaining to any of the following: (i) occupational safety
and health; (ii) protection of persons and property from death, injury or damage; (iii) the environment, including all applicable Environmental Requirements; (iv) the use, handling, storage, labeling and disposal of toxic or Hazardous
Materials; (v) labor and employment, including equal employment opportunity; (vi) tax; (vii) workmen’s compensation and unemployment insurance, (viii) money laundering, anti-terrorism, trade embargos, and economic sanctions;
(ix) anti-bribery and anti-corruption; and (x) to the extent relevant to Tenant’s obligations, Laws with respect to data privacy, data protection, and consumer privacy. Tenant will, if reasonably requested by Tesla, submit to Tesla
evidence of such compliance. Each Party will also provide the other Party with all information reasonably required in order for the other Party to comply with Laws applicable to it.

  
  

			
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	 	(b)	Tesla will, at its cost and expense, comply with all Laws applicable to the performance of its obligations under this Lease, as such Laws may be revised from time to time, in any of the following areas:
(i) occupational safety and health; (ii) protection of persons and property from death, injury or damage; (iii) the environment, including all applicable Environmental Requirements; and (iv) the use, handling, storage, labeling
and disposal of toxic or Hazardous Materials. 

  

	 	(c)	To the extent not prohibited by Law, each Party will promptly notify the other Party in writing of any investigation or inquiry by a governmental authority into whether such Party (or any of its Personnel) is charged
with failing to comply with any Laws that may or will impact its performance under this Lease. 

  

	 	(d)	Tenant will comply with any Tesla policies, standards, rules, and procedures (collectively, “Tesla Policies”) applicable to performance of Tenant’s obligations under this Lease and/or to the
Factory which are disclosed to Tenant in writing and approved by Tenant, as such Tesla Policies may be revised from time to time subject to Tenant’s approval, and Tenant shall not unreasonably withhold, condition, or delay its approval for any
such Tesla Policy or any changes thereto. Without limiting the foregoing, Tenant shall also cause Tenant Personnel to sign Tesla’s Visitor Safety and Non-Disclosure Agreement when entering the Factory. 

4.3 Debarment. Section 6.4 (Debarment) of the General Terms is incorporated by reference into, and forms an integral part of, this Lease, provided
that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. 
 4.4
Disclaimer. THE WARRANTIES SET FORTH HEREIN ARE EXCLUSIVE AND ARE IN LIEU OF ALL OTHER WARRANTIES WITH RESPECT TO THIS LEASE, THE PREMISES, THE FACTORY, AND/OR THE LAND, WHETHER ARISING FROM A COURSE OF DEALING, COURSE OF PERFORMANCE OR
TRADE USAGE, OR WHETHER ORAL, WRITTEN, EXPRESS, IMPLIED OR STATUTORY, ALL OF WHICH ARE HEREBY WAIVED BY TESLA AND TENANT.  
 5.
Indemnification.
 5.1 Indemnification by Tenant. Notwithstanding Section 12.1(d) of the General Terms, to the extent permitted by Law but
subject to Section 5.3 (Procedure; Limitations), Tenant agrees to indemnify, defend and hold harmless Tesla, its Affiliates, and their respective directors, officers, employers and agents (collectively, “Tesla Indemnitees”) from and
against any and all costs, fees, penalties, expenses, third-party damages, reasonable attorneys’ fees and all other liabilities to any third party whatsoever (“Losses”), arising out of any Claim against any Tesla Indemnitee
which arises from or relates to any actual or alleged: (a) personal injury (including death) or property damage to the extent caused by the negligence or willful misconduct of Tenant, any Tenant Personnel, or any of Tenant’s visitors,
licensees, employees, directors, officers, agents, servants, contractors and/or subcontractors in connection with this Lease; (b) breach of a Tenant obligation under this Lease with respect to, or violation of, one or more Environmental Requirements
for which Tenant is responsible under this Lease; (c) challenge (for example, through a lien or similar impairment) to Tesla’s right, title and interest in the Premises, Factory, Land, Goods, or Tesla Property, or right to possession of
any of the foregoing, in each case brought by any third party supplier to Tenant or any Tenant Personnel, including toolmakers, subcontractors, and lending institutions; or (d) Claims as contemplated in Section 13.4 (Brokers).

5.2 Indemnification by Tesla. Notwithstanding the provisions of Section 12.1(d) of the General Terms, to the extent permitted by Law but subject
to Section 5.3 (Procedure; Limitations), Tesla agrees to indemnify, defend and hold harmless Tenant, its Affiliates, and their respective directors, officers, employers and agents (collectively, “Tenant Indemnitees”) from and
against any and all Losses arising out of any Claim against any Tenant Indemnitee which arises from or relates to any actual or alleged: (a) personal injury (including death) or property damage to the extent caused by the negligence or willful
misconduct of Tesla or any of Tesla’s visitors, licensees, employees, directors, officers, agents, servants, contractors and/or subcontractors in connection with this Lease; (b) breach of a Tesla obligation under this Lease with respect
to, or violation of, one or more Environmental Requirements for which Tesla is responsible under this Lease; (c) challenge to Tenant’s sole right, title and interest in materials, work-in-process, Goods or Tenant’s Property, or right to
possession of any of the foregoing, in each case brought by any third party supplier to Tesla or agent to Tesla, including toolmakers, subcontractors, and lending institutions; or (d) Claims as contemplated in Section 13.4 (Brokers). 

  
  

			
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 5.3 Procedure; Limitations. Sections 7.3 (Procedure) and 7.4 (Limitations) of the General Terms
are incorporated by reference into, and form an integral part of, this Lease, provided that such provisions shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. 

6. Casualty. If all or substantially all of the Factory or the Premises are damaged, or a part of the Factory is damaged so
that the operation of Tenant at the Premises is adversely affected by a fire or other casualty (a “Casualty Event”), Tesla will notify Tenant promptly in writing of the occurrence of the Casualty Event, and will use Commercially
Reasonable Efforts to give the notice within [***] days, which notice shall include an estimate as to the amount of time to restore the Premises (such notice is the “Casualty Notice”). In case of the occurrence of a
Casualty Event, the Parties shall discuss in good faith regarding the restoration of the Factory or the Premises, and Tesla shall use Commercially Reasonable Efforts to restore them as soon as practicable but in any event within [***];
provided, however, that, if Tesla reasonably determines after such good-faith discussion with Tenant that it cannot restore the Premises or such damaged portion of the Factory within a period of [***], then the Casualty Event will be deemed
to be a Force Majeure Event and either Party may terminate this Lease upon written notice, provided that such Party was not grossly negligent in causing or failing to prevent the Casualty Event. If neither Party exercises the foregoing
termination right, or less than all or substantial all of the Premises are damaged by a Casualty Event, then Tesla will, as a Tesla Responsibility, use Commercially Reasonable Efforts to restore the Premises and/or such damaged portion of the
Factory in a commercially reasonable period of time if and to the extent that Tesla deems it is commercially reasonable and feasible to do so. [***] while Tesla restores the Premises and/or such damaged portion of the Factory adversely
affecting Tenant’s operation (and for any additional period reasonably required for Tenant’s restoration of any improvements or equipment installed by Tenant and time reasonably required for Tenant to be fully operational at the Premises)
in the proportion which the area of the Premises, if any, affected by the casualty or related restoration work bears to the total area of the Premises.

7. Condemnation. Tesla will promptly notify Tenant of any threatened Taking known to Tesla and will allow Tenant to participate in
any negotiations with public authorities. If all or substantially all of the Premises is taken for any public or quasi-public use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu of
any condemnation (collectively, a “Taking” or “Taken”), or if any part of the Premises, the Factory, or the Land is Taken and the partial Taking would prevent or materially interfere with Tenant’s access to or
use of the Premises, then Tenant may, at its option, terminate this Lease by giving written notice to Tesla. Such termination will be effective as of the effective date of the Taking and will be deemed to be a termination due to a Force Majeure
Event by either Party under the General Terms and this Lease. If part of the Premises is Taken and Tenant does not terminate the Lease, (a) Tesla will, as a Tesla Responsibility, restore the Premises within a commercially reasonable period
of time, and (b) [***]. If any Taking occurs, then Tesla will be entitled to the entire award for the Premises but Tesla shall have no right to any award for the value of Tenant’s Property, Tenant Improvements,
and/or Tenant’s moving costs. Tenant may separately pursue a claim against the condemning authority in connection with a Taking for the value of Tenant’s property, moving costs, loss of business, and other claims it may have.

 8. Subordination, Estoppel Certificates and Liens.

8.1 Mortgages. At Tesla’s written request, Tenant will subordinate this Lease and Tenant’s interest and rights under this Lease to any
existing or future deed of trust, security deed, mortgage, security assignments and any other similar encumbrances (each, a “Mortgage”), provided that the holder of the Mortgage has executed, acknowledged and delivered to Tenant a
commercially reasonable Subordination, Attornment and Non-Disturbance Agreement that provides that: (a) Tenant’s possession of the Premises and other rights under the Lease will not be disturbed in any proceeding to foreclose the
Mortgage or in any other action instituted in connection with such Mortgage, (b) Tenant will not be named as a defendant in any foreclosure action or proceeding which may be instituted by the holder of such Mortgage, and (c) if the holder
of the Mortgage or any other person acquires title to the Premises through foreclosure or otherwise, the Lease will continue in full force and effect as a direct lease between Tenant and the new owner, and the new owner will assume and perform
Tesla’s obligations under this Lease. The holder of any Mortgage may, at any time, subordinate its Mortgage to this Lease, without Tenant’s consent, by giving written notice to Tenant.

  
  

			
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 8.2 Estoppel Certificates. Tenant shall, within [***] days of Tesla’s request, execute and
deliver to Tesla estoppel certificates(s) to: (a) certify that this Lease is unmodified and in full force and effect or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and
effect and the date to which [***], if any; (b) acknowledge that there are not, to Tenant’s knowledge, any uncured defaults on the part of Tesla hereunder, or stating the nature of defaults if such exist; and (c) evidence the status
of this Lease. If Tenant fails to timely respond to a request for an estoppel certificate, Tesla may deliver an additional request accompanied by a second copy of the same estoppel certificate. If Tenant does not respond within [***]
Business Days after such second request, Tenant will be deemed to have agreed to all matters set forth in good faith in the estoppel certificate, except to the extent that Tesla has actual knowledge to the contrary. 

8.3 Mechanic’s Liens. Tenant will not allow any person working on behalf of either Tenant or any Tenant Personnel to place any lien or
similar impairment on the Land, Factory, or Premises.
 9. Environmental Requirements.

9.1 Responsibilities Matrix. Unless expressly provided otherwise in the Responsibilities Matrix, Tenant shall install, operate, and maintain the
Tenant Utilities in full compliance with all applicable Environmental Requirements and Tesla will have such responsibility with respect to the Factory Utilities. 

9.2 Tesla Obligations. Tesla will, as a Tesla Responsibility and during the Lease Term: (a) cause the Land and Factory to comply with all
Environmental Requirements, except (i) to the extent of Tenant’s obligations under Section 9.3, or (ii) to the extent that non-compliance with an Environmental Requirement is or was caused by Tenant, any Tenant Personnel, or any of
Tenant’s visitors, licensees, employees, directors, officers, agents, servants, contractors and/or subcontractors; (b) be responsible for (i) coordination and arrangements with Tenant and all other entities located at the Land and
permitted by Tesla, if any, for compliance with all Environmental Requirements with respect to the entire site, and (ii) any and all filings and permits with respect to the entire site as required under any Environmental Requirements, and Tesla will
discuss in good faith such filings as related to Tenant’s operations in the Premises. 
 9.3 Tenant Obligations.

 

	 	(a)	Tenant shall not transport, store, use, generate, manufacture, or release any Hazardous Materials in or about the Premises, Land, or Factory, nor shall Tenant permit any Tenant Personnel to do any of the foregoing,
except if and to the extent such activity is: (i) related to the Purpose; (ii) in compliance with all Environmental Requirements; and (iii) notified in advance in writing by Tenant. Further, except as expressly provided otherwise
in the Responsibilities Matrix, Tenant shall cause the Premises (as distinct from the Factory and Land) to comply with all Environmental Requirements during the Lease Term, including as applicable by conducting remediation, cleanup and repairs as
required by applicable Law and/or any Environmental Requirements; provided, however, that Tesla shall conduct such remediation, cleanup and repairs at its expense if and to the extent that the non-compliance with one or more Environmental
Requirements was caused by Tesla or any of Tesla’s visitors, licensees, employees, directors, officers, agents, servants, contractors and/or subcontractors. Further, Tenant shall conduct remediation, cleanup and repairs with respect to the
Land and Factory if and to the extent that the non-compliance with one or more Environmental Requirements was caused by Tenant, any Tenant Personnel, or any of Tenant’s visitors, licensees, employees, directors, officers, agents, servants,
contractors and/or subcontractors. 

  

	 	(b)	Tenant shall provide all information that is requested by Tesla in connection with, and required for, Tesla’s performance of its obligations under Section 9.2 above, and access to the Premises and Tenant’s
records as required to confirm and evaluate the accuracy and thoroughness of such information. Tenant shall not contest any findings or remediation (proposed or required) identified in a filing by Tesla in connection with any Environmental
Requirements applicable to the site. Tesla will use Commercially Reasonable Efforts to discuss in good-faith with Tenant any such findings or remediation, but only to the extent that (i) the finding(s) and/or remediation pertain to the
Premises, and (ii) such discussion will not, in Tesla’s sole but reasonable determination, result in a breach of confidentiality or waiver of applicable privilege. 

9.4 Pre-Existing Issues. Notwithstanding anything to the contrary herein or in the General Terms, Tenant shall not be liable for any
non-compliance with any Environmental Requirements or any other environmental issue which existed in the Land, Factory and/or Premises before the Commencement Date and was not caused by Tenant. 

  
  

			
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 10. Liability.

10.1 Limitations of Liability and Exclusions. Section 12.1 (Limitations of Liability and Exclusions) of the General Terms is incorporated by
reference into, and forms an integral part of, this Lease, provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. The foregoing provision governs each
Party’s liability pursuant to this Lease; provided, however, that the following shall also be deemed to be direct damages for purposes of this Lease: 
  

	 	(a)	actual and reasonable damages and liability incurred by a Party with respect to environmental conditions or issues (including actual and reasonable costs of remediation, if applicable), either (a) to the extent
caused by the other Party and/or (b) to the extent such conditions or issues are the legal responsibility of the other Party; the foregoing includes, without limitation, any and all losses, fines, penalties, liabilities, damages (including
punitive damages), remedial costs and expenses (including investigation, remediation, removal, repair, corrective action, and/or cleanup expenses), and costs (including actual and reasonable attorneys’ fees, consultant fees and/or expert
witness fees) suffered or incurred by a Party arising from any of the following to the extent caused by acts or omissions of the other Party or any employee or agent thereof: (i) the presence of any Hazardous Materials in, under, on or from the
Premises, Factory, and/or Land (e.g. in connection with any spills or the transfer of chemicals from a tanker to storage for use in production activities at the Factory); or (ii) failure to comply with any applicable Environmental Requirement;

  

	 	(b)	if Tesla terminates for Tenant’s Lease Default, the [***]; 

  

	 	(c)	if Tesla terminates for Tenant’s Lease Default, the actual and reasonable costs and expenses to Tesla of soliciting new tenants during [***], including any costs and expenses for re-fixturing, alterations and other
costs in connection with the Premises for any reasonable or necessary alterations to bring the Premises back to the condition as of the Commencement Date subject to reasonable wear and tear; 

10.2 Force Majeure. Section 12.2 (Force Majeure) of the General Terms is incorporated by reference into, and forms an integral part of, this
Lease, provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. 

11. Term and Termination.
 11.1 Term. The
term of this Lease (the “Lease Term”) will begin on the Effective Date and end on the effective date of termination or expiration of the General Terms and each Contract entered into by the Parties thereunder (the “Expiration
Date”). 
 11.2 Termination, Generally. This Lease may only be terminated as provided in this Section 11 (Term and
Termination). Termination by a Party will be without prejudice to any other rights and remedies available to a Party. Neither Party will be obliged to pay any termination charges or demobilization fees to the other Party in connection with
any termination of this Lease, except as may be expressly set forth in this Lease. 
 11.3 Termination.

 

	 	(a)	 Subject to Sections 2.1 (Tesla Responsibilities) above, the Party who is not in Lease Default may terminate this
Lease as follows: (i) if the other Party breaches a material obligation under the Lease and fails to cure the breach within [***] days after receipt of notice of such breach expressly stating the non-breaching Party’s intent to
terminate (“Notice of Termination”) or, if the breach cannot reasonably be cured within such [***]-day period, [***] days after receipt of Notice of Termination provided the Party in Lease Default commences and
diligently pursues a cure within the [***]-day period; (ii) if the 

  
  

			
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other Party becomes a debtor in a bankruptcy, insolvency, receivership, or similar proceeding commenced by a third party that is not dismissed within a reasonable time after commencement; or
(iii) immediately upon Notice of Termination in the event of an incurable material breach, including (A) a Party’s repudiation of this Lease, (B) in case of Section 4.3 (Debarment), or (C) if the other Party makes an
assignment for the benefit of creditors in violation of this Lease or voluntarily institutes proceedings in bankruptcy or insolvency. Each of the foregoing types of breach shall be deemed to be a “Lease Default.” The Party
that issues the Notice of Termination may approve a longer cure period with respect to any Lease Default in its sole discretion. For purposes of this subsection, each of the following will be deemed to be a material breach of this Lease:
(x) Tenant’s abandonment of the Premises; (y) [***]; and (z) either Party’s assignment, encumbrance or subletting in violation of the provisions hereof. 

 

	 	(b)	The Parties may also terminate this Lease: (i) as provided in Section 10.2 (Force Majeure); (ii) as provided in Section 6 (Casualty); (iii) as provided in Section 7 (Condemnation); or (iv) for
convenience (i.e. without cause) upon prior written notice to the other Party if such other Party experiences a Change of Control Event, but only if both: (A) the Change of Control Event will, or is reasonably likely to, materially and
adversely affect the terminating Party’s interests pertinent to the General Terms and the Contract(s), and (B) the terminating Party terminates within [***] after such Change of Control Event.

 

	 	(c)	Tenant may terminate this Lease pursuant to Section 11.1 of the General Terms. 

  

	 	(d)	Subject to Section 11.3 (Extension of Lease) of the General Terms, this Lease shall also automatically terminate without any further action by the Parties upon expiration or termination of the General Terms and all
Contracts by and between the Parties under the General Terms.

 11.4 Obligations Upon Termination or Expiration.

 

	 	(a)	Immediately upon the date of expiration or termination of the Lease and in addition to any actions or payments expressly required hereunder but subject to Section 11.3 (Extension of Lease) of the General Terms, Tenant
shall vacate and deliver to Tesla possession of the Premises (i) free and clear of all liens, charges, or encumbrances thereon resulting from any act or omission on Tenant’s part, (ii) free and clear of all violations of applicable
Laws excluding any violation for which Tenant is not responsible, including any violation of the Environmental Requirements which existed prior to the Commencement Date, (iii) broom clean, in good condition, normal wear and tear excepted, free
of all toxic or Hazardous Materials and waste materials of any nature brought onto the Premises or caused by Tenant or for which Tenant is otherwise responsible, but excluding any of them for which Tenant is not responsible, and (iv) having
removed all Tenant Improvements so that the Premises are in substantially the same condition as they are in at Commencement Date and/or Production Date or when installed, if later, normal wear and tear excepted.

 

	 	(b)	Prior to such delivery but subject to Section 11.3 (Extension of Lease) of the General Terms, Tenant shall remove all Tenant’s Property and Tenant Improvements that Tenant has the right to remove or is obligated to
remove under this Lease and shall repair all damage caused by and perform all restoration made necessary by the removal of any Tenant Improvements or Tenant’s Property normal wear and tear excepted. If and to the extent that Tenant does
not comply with the foregoing when it surrenders the Premises, (i) Tesla may elect to retain or dispose of Tenant Improvements and dispose of Tenant’s Property in any manner, and (ii) Tenant shall reimburse Tesla upon demand for
Tesla’s costs for storing, removing, and disposing of any Tenant Improvements or Tenant’s Property. 

 11.5 Holding Over.

 

	(a)	If Tenant remains in possession of the Premises after the effective date of termination or after expiration of the Lease Term (and provided that the Preparation Period has expired), unless otherwise provided in Section
11.3 (Extension of Lease) of the General Terms (the “Holding Over”), such possession by Tenant shall be deemed to be a month-to-month tenancy which is subject to termination by either Party by providing [***] days’ prior
written notice to the other Party. All provisions of this Lease, except those pertaining to Lease Term and option to extend, shall apply to such month-to-month tenancy, unless otherwise provided in Section 11.3 (Extension of Lease) of the
General Terms; provided that [***] in case of expiration or termination of this Lease or the General Terms for any reason other than as set forth in subparagraph (i) above.

  
  

			
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	 	(b)	If the Holding Over continues more than [***] days, then Tenant will be liable to Tesla for the rental revenue lost by Tesla as a result of the holdover (other than as a result of a termination of any executed
lease for any portion of the Premises) and for any amounts Tesla is required to pay to any new tenant (whether in the form of rent abatement, monetary damages, or otherwise) as a result of the holdover. If Tenant wishes to extend its occupation
of the Premises after the effective date of expiration or termination of this Lease, Tenant may request an extension in writing and Tesla will discuss such extension with Tenant in good faith but Tesla shall have no obligation to grant an extension.

  

	 	(c)	If the Holding Over continues more than [***] days, then upon [***] day prior written notice to Tenant: (A) Tesla shall have an unconditional right of entry to the Premises and may use such reasonable
force as it may deem necessary for the purpose of gaining admittance to and retaking possession of the Premises without any liability in trespass; (B) Tesla may expel and remove Tenant, those claiming under Tenant, and their effects, as allowed
by Law, without any liability in trespass; (C) if Tesla removes any Tenant’s Property from the Premises, Tesla may either store such property in a public warehouse or at a place selected by Tesla in the State of Nevada at Tenant’s
expense or scrap or recycle such property in its sole discretion and use the resulting funds (if any) towards any indebtedness of Tenant to Tesla, in each case without any liability to Tenant other than to provide any remaining balance of proceeds
from scrap or recycling to Tenant; (D) Tesla may remove any and all Tenant Improvements in the Premises at Tenant’s expense; and (E) Tenant hereby releases Tesla from all actions, proceedings, claims, and demands whatsoever for and in
respect of Tesla’s exercise of any of the foregoing rights except in case that such action, proceeding, claim and/or demand are raised based on Tesla’s intentional torts, willful misconduct or gross negligence. 

12. Dispute Resolution.
 12.1 Governing
Law. This Lease will be interpreted and construed in accordance with the following substantive Laws and the Laws of the United States generally applicable therein, without regard to any provisions of choice of law rules that would result in
a different outcome: (a) the Laws of California with respect to contract matters; and (b) the Laws of Nevada with respect to leasehold matters. The UN Convention on Contracts for the International Sale of Goods will not apply to this
Lease.
 12.2 Dispute Resolution. In the event any disputes, differences or controversies arise between the Parties, out of or in relation to or
in connection with the provisions of this Lease, the Parties shall thoroughly explore all possibilities for an amicable settlement. Section 15.3 (Arbitration) of the General Terms is incorporated by reference into, and forms an integral part of,
this Lease, provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. Each Party agrees to continue performing its obligations under this Lease while a dispute is
being resolved unless and until such obligations are terminated by the termination or expiration thereof. 
 13. Miscellaneous. 

13.1 Assignment and Subcontracting.
  

	 	(a)	Without prior written consent of the other Party, neither Party may assign this Lease and Tenant may not sublet its rights hereunder, and any attempt to do so shall be void; provided, however, that: (i) each Party
may, by a written notice but without requiring the other Party’s consent or meeting any other condition, add an Affiliate which operates in the Factory as a co-party to this Lease; and (ii) Tesla may, with Tenant’s prior written
consent, which shall not be unreasonably withheld, conditioned or delayed, assign any or all of its rights, benefits or remedies to an Affiliate which assumes all of Tesla’s obligations hereunder. 

 

	 	(b)	 Tenant may not subcontract any of its obligations under this Lease without Tesla’s prior written consent
(such consent will not be unreasonably withheld, conditioned, or delayed by Tesla), and any attempt to do so shall be void. If Tenant subcontracts any of its obligations under this Lease to a third party, Tenant will: (i) be solely
responsible for payments to the subcontractor; (ii) include in its purchase order or any 

  
  

			
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other contract with the subcontractor a waiver of subcontractor liens on the Premises and Factory to the maximum extent permitted by applicable Law; (iii) before permitting any subcontractor
to use Tesla Property and/or access the Factory, obtain Tesla’s prior written consent, which shall not be unreasonably withheld, conditioned, or delayed by Tesla; and (iv) replace any subcontractor used by Tenant in connection with this
Lease as reasonably requested by Tesla within a reasonable time after receipt of notice from Tesla and following a good faith discussion. Tesla has no obligation with respect to any subcontractor of Tenant. Any subcontracting, assignment
or delegation by Tenant does not relieve Tenant of any responsibility under this Lease, and Tenant remains responsible to the same extent as if the subcontracted, assigned or delegated responsibilities were retained by Tenant. [***] shall not
be deemed to be a waiver by Tesla of any provision hereof. Consent to one assignment or subletting shall not be deemed consent to any subsequent assignment or subletting. In the event of default by any assignee, subtenant or any other
successor of Tenant under this Lease, in the performance of any of the terms hereof, Tesla may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, subtenant or successor. If and to the extent that
Tesla unreasonably withholds, conditions or delays its consent to any proposed subcontractor, Tesla will be deemed to have failed to perform a Tesla Responsibility and Section 2.4(b) of the General Terms will apply.

 

	 	(c)	In the event of a Change of Control Event affecting a Party, the person or entity which acquires Control of the Party shall be subject to the terms and conditions of, and shall assume all of the acquired Party’s
obligations under, this Lease.

  

	 	(d)	If Tesla sells, transfers, assigns or otherwise disposes of any portion of the Land and Factory covered by this Lease and/or the Factory Utilities to a Tesla Affiliate or a third party, any such sale, transfer,
assignment or disposal shall be subject to any and all of Tenant’s rights under this Lease. Tesla shall first notify in writing to and discuss with Tenant in good faith if Tesla intends to sell, transfer, assign or otherwise dispose of any
portion of the Land and Factory covered by this Lease and/or the Factory Utilities to any third party. 

  

	 	(e)	This Lease shall be binding upon the respective successors and permitted assigns of the Parties. 

 13.2
Audit and Inspection.  
  

	 	(a)	Tenant will permit Tesla and its agents and representatives to enter the Premises if reasonably required for any of the following: 

  

	 	(i)	an emergency at any time; 

  

	 	(ii)	a law enforcement or government inspection at any time; 

  

	 	(iii)	employee health & safety (EHS); 

  

	 	(iv)	security; 

  

	 	(v)	audit (e.g., PPAP); 

  

	 	(vi)	evaluation of compliance with Environmental Requirements and/or for purposes of any Tesla filings or obligations under one or more Environmental Requirements; 

 

	 	(vii)	as separately approved in writing by Tenant following a good faith discussion with Tesla; and/or 

  

	 	(viii)	maintenance or repair of Tesla Property used by or for Tenant in the Premises.

  

	 	(b)	 Tesla and its authorized representatives shall have the right, from time to time with reasonable prior written
notice and subject to the NDA and compliance with Tenant’s reasonable security procedures, to access the Premises as approved by Tenant (such approval will not be unreasonably withheld, conditioned, or delayed by Tenant) for any of the
following purposes: (i) to determine whether the Premises are in good condition and whether Tenant is complying with its obligations under this Lease; (ii) to do any necessary or appropriate maintenance and to make any restoration to
the Premises or the Factory and other improvements in which the Premises are located that Tesla has under the Lease the right or obligation to perform; (iii) to serve, post, or keep posted any notices required or allowed under the provisions of
this Lease; and/or (iv) to shore the foundations, footings, and walls of the Factory and 

  
  

			
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to erect scaffolding and protective barricades around and about the Factory or Premises (but without preventing entry to the Premises), and to do any other act or thing necessary for the safety
or preservation of the Premises or the building and the other improvements in which the Premises are located if any excavation or other construction is undertaken or is about to be undertaken on any adjacent property or nearby
street.

  

	 	(c)	Tenant will maintain records as required to demonstrate its compliance with the terms of this Lease. Tesla and its representatives may audit Tenant’s records for the three-year period prior to the audit date
using reasonable efforts not to interrupt Tenant’s operations in the Premises, to the extent needed to verify compliance with this Lease, and Tenant will make such records available to Tesla and its auditors for examination and copying upon
their reasonable request; provided that Tenant is not obliged to make available any technical or engineering records, data and/or information which is confidential or proprietary to Tenant and which is owned or controlled by Tenant without the prior
written agreement between the Parties. Each Party shall bear its own expenses in connection with any such audit. Tesla shall not be liable in any manner for any inconvenience, disturbance, loss of business, nuisance, or other damage
arising out of Tesla’s entry on the Premises, nor shall any such entry constitute a constructive eviction or in any way affect Tenant’s obligations under this Lease or [***].

13.3 Authority. Each Party represents to the other that it has the full right and authority to bind itself without the consent or approval of any
other person or entity and that it has full power, capacity, authority and legal right to execute and deliver this Lease and to perform all of its obligations hereunder. 

13.4 Brokers. Each Party represents and warrants that it has dealt with no broker, agent or other person in connection with this Lease, and agrees
to indemnify and hold the other Party harmless from and against any claims by any broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with such Party with regard to this Lease. 

13.5 Confidentiality. The Amended and Restated Non-Disclosure Agreement for Battery Factory by and between Tesla, Tenant, and Panasonic with an
effective date of October 23, 2013 (“NDA”) sets forth the Parties’ respective confidentiality obligations hereunder. The NDA is hereby incorporated by reference in this Lease, and the terms and conditions of the NDA will
continue in force during the Lease Term and thereafter during the Confidentiality Period (as defined in the NDA). 
 13.6 Counterparts. This
Lease may be executed in counterparts, each of which shall be an original and together which shall constitute one and the same instrument. 
 13.7
Covenant of Good Faith. Each Party, in its respective dealings with the other Party under or in connection with this Lease, shall act in good faith and with fair dealing. 

13.8 Environmentally Friendly Practices. In addition to complying with all Environmental Requirements, to the maximum extent practicable, each
Party will use environmentally conscious materials and practices in connection with this Lease. 
 13.9 Entire Agreement. This Lease (including
its accompanying addenda and exhibits, the recitals and Basic Information at the beginning hereof, and together with applicable provisions in the General Terms, the Pricing Agreement, and any documents incorporated or referenced in either of the
foregoing) constitutes the entire agreement between the Parties with respect to its subject matter, and supersedes all prior oral or written representations or agreements by the Parties with respect thereto. No subsequent terms, conditions,
understandings, or agreements purporting to modify the terms of this Lease will be binding unless in writing and signed by Tesla and Tenant.
 13.10
Memorandum of Lease. If requested by Tenant and during the Lease Term, Tesla will execute a memorandum of lease with respect to this Lease. Tenant shall be responsible for recording such memorandum of lease at its expense if Tenant
elects to do so. 
 13.11 No Third Party Beneficiaries. This Lease is entered into solely between Tesla and Tenant and, except for the
Parties’ indemnification obligations hereunder, will not be deemed to create any rights in any third parties or to create any obligations of either Tesla or Tenant to any third parties. 

  
  

			
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 13.12 No Waiver. The failure of either Party to enforce on a particular occasion any right or
remedy provided in this Lease or by law or in equity will not be deemed a waiver of that right or remedy on a subsequent occasion or a waiver of any other right or remedy. 

13.13 Notices. Section 16.1 (Notices) of the General Terms is hereby incorporated by reference into, and forms an integral part of, this Lease
provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of applicability to this Lease. Copies of all notices to Tenant shall also be sent to Panasonic Corporation of North America, Two
Riverfront Plaza, Newark, NJ 07102, Attn: General Counsel. 
 13.14 Relationship of Parties. The Parties are independent contractors under this
Lease and no other relationship is intended, including a partnership, franchise, joint venture, agency, employer/employee, fiduciary, master/servant relationship, tenancy-in-common, joint tenancy, financing, or other special relationship, express or
implied. Neither Party shall act in a manner that expresses or implies a relationship other than that of independent contractor, nor bind the other Party. Tesla and Tenant will treat this Lease (including its accompanying addenda and
exhibits) as a lease in their separate books and records and in any reports to any third party. 
 13.15 Rules of Interpretation. Section 16.7
(Rules of Interpretation) of the General Terms is hereby incorporated by reference into, and forms an integral part of, this Lease provided that such provision shall be deemed amended and modified mutatis mutandi solely for purposes of
applicability to this Lease. 
 13.16 Severability. If for any reason a court of competent jurisdiction finds any provision of this Lease to be
unenforceable, that provision of this Lease will be enforced to the maximum extent permissible so as to implement the intent of the Parties, and the remainder of this Lease will continue in full force and effect. 

13.17 Survival. Any provision of this Lease that contemplates or governs performance or observance subsequent to termination or expiration will
survive the expiration or termination hereof for any reason.  
 13.18 Time. Time is of the essence as to the performance of each
Party’s obligations under this Lease. 
 13.19 Defined Terms. 
  

	 	(a)	“Business Day” means any day that is not a Saturday, Sunday, or federal holiday.

  

	 	(b)	“CCR Rules” means all policies, procedures, rules and regulations applicable to the Factory and/or the Land (collectively, the “CCR Rules”). 

 

	 	(c)	“Common Areas” shall mean all areas of the Factory intended or designated by Tesla from time to time as for the common use or benefit of the tenants of the Factory and their employees, agents, and other
invitees, including all parking areas, pedestrian walkways, driveways and access roads, entrances and exits, and landscaped areas. 

  

	 	(d)	“Environmental Requirements” means all applicable present and future Laws regulating or relating to human health, safety, or environmental conditions on, under, or about the Premises, Factory, Land, or
the environment, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA); the Resource Conservation and Recovery Act; and all state and local counterparts. 

 

	 	(e)	“Factory Requirements” means, collectively, all CCR Rules and insurance requirements applicable to the Factory and/or the Land. 

 

	 	(f)	“Factory Systems” means, collectively, HVAC systems, fire suppression systems, lighting systems, electrical systems, plumbing systems, or other mechanical and building systems. 

 

	 	(g)	“Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant listed or defined as hazardous or toxic under any Environmental Requirements. 

 

	 	(h)	“Law(s)” means any statute, regulation, ordinance, rule, order, decree or governmental requirement enacted, promulgated or imposed by any governmental authority at any level (e.g., municipal, county,
province, state or national). For the avoidance of doubt, the term “Laws” includes any and all applicable Anti-Bribery Laws and Anti-Money Laundering Laws. 

  
  

			
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	 	(i)	[***] 

  

	 	(j)	“Party” refers to either Tesla or Tenant and “Parties” refers collectively to Tesla and Tenant.

  

	 	(k)	“Tenant’s Property” has the same meaning as the term Seller’s Property, as defined in Section 9.1 of the General Terms. 

 

	 	(l)	“Taxes” means, for purposes of this Lease, all real estate taxes, assessments and governmental charges. Taxes do not include any estate taxes or inheritance taxes, transfer, gift or franchise
taxes, or gross receipts taxes of Tesla, any “roll back” or similar taxes attributable to periods before the Commencement Date, or any federal, state or local income taxes, any tax in lieu of net income tax, any penalties or interest other
than those attributable to Tenant’s failure to comply timely with its obligations under this Lease, nor any special assessments incurred as a result of the initial construction or subsequent enlargement of the Premises. 

 

	 	(m)	“Tesla Property” has the meaning set forth in Section 9.1 of the General Terms. 

  

	 	(n)	“Tesla Responsibility” (including its derivations) has the meaning set forth in Section 2.4 (Tesla Responsibilities) of the General Terms. 

 

	 	(o)	“Tesla-Supplied Items” means, collectively, the raw materials, components, supplies, and/or services to be provided by Tesla hereunder as a Tesla Responsibility. 

Exhibits 
 Appendix A-1: Legal
Description of Land 
 Appendix A-2: Site Plan for Premises 

Appendix B: Factory Utilities and Tenant Utilities 

  
  

			
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 Appendix A-1: Legal Description of Land 

Overview Map of Land: 
  

 
 Legal Description of Land: attached. 

  
  

			
	Factory Lease	  	Appendix A-1
	  
 [***] Information has been omitted and filed separately
with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 5
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 SCHEDULE A 
  

	1.	Commitment Date: September 3, 2014 at 7:30 A.M. 

  

					
	2.	  	Policy or Policies to be issued:	  	Amount
			
		  	a.      ALTA 2006 Extended Coverage Owner Policy	  	$To Be Determined

 Proposed Insured: 

Tesla Motors, Inc., a Delaware Corporation 
  

	3.	(A) The estate or interest in the land described in this Commitment is: 

 Fee as to Parcels 1,
3, 6, 9, 13 and 14 
 Easement as to Parcel 21 

(B) Title to said estate or interest at the date hereof is vested in: 

Tahoe-Reno Industrial Center, LLC, a Nevada limited liability company 
  

	4.	The land referred to in this Commitment is situated in the County of Storey, State of Nevada, and is described as follows: 

PARCEL 1: 
 PARCEL 2009-6 OF
RECORD OF SURVEY MAP NO. 111167, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON MAY 13, 2009, AS FILE NO. 111167, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

ALL THAT CERTAIN REAL PROPERTY SITUATE WITHIN THE SOUTH ONE-HALF (1/2) OF SECTION 6, TOWNSHIP 19 NORTH, RANGE 23 EAST, MOUNT DIABLO
MERIDIAN, STOREY COUNTY, STATE OF NEVADA BEING A PORTION OF PARCEL 2008-87, AS SHOWN ON THAT “RECORD OF SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, FILED IN THE OFFICE OF THE STOREY COUNTY RECORDER, JANUARY 15, 2009, FILE NO. 110530,
OFFICIAL RECORDS OF STOREY COUNTY, NEVADA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A POINT, FROM WHICH POINT THE SOUTHWEST
CORNER OF SAID SECTION 6 BEARS SOUTH 83°34’52” WEST, 2553.29 FEET; 
 THENCE NORTH 52°49’21” EAST, 468.75 FEET TO
THE NORTH LINE OF SAID PARCEL 2008-87; 
 THENCE, ALONG SAID NORTH LINE, SOUTH 37°10’39” EAST, 214.33 FEET; 

  
 First American Title
Insurance Company 
 Addendum 2 

-1- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 6
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 THENCE, ALONG A NON-TANGENT CURVE TO THE RIGHT, FROM A TANGENT WHICH BEARS SOUTH
26°31’44” EAST HAVING A RADIUS OF 1450.00 FEET, A CENTRAL ANGLE OF 10°38’55”, AND AN ARC LENGTH OF 269.49 FEET; 

THENCE, LEAVING SAID NORTH LINE, SOUTH 52°49’21” WEST, 335.86 FEET; 

THENCE NORTH 80°55’36” WEST, 156.06 FEET; 

THENCE NORTH 37°10’39” WEST, 369.53 FEET TO THE POINT OF BEGINNING. 

THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED MAY 13, 2009, AS DOCUMENT NO. 111168 OF OFFICIAL
RECORDS. 
 PARCEL 2: 

INTENTIONALLY DELETED 
 PARCEL 3:

 PARCEL 2009-5 OF RECORD OF SURVEY MAP NO. 111167, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON MAY 13,
2009, AS FILE NO. 111167, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN REAL PROPERTY SITUATE WITHIN
THE SOUTH ONE-HALF (1/2) OF SECTION 6, TOWNSHIP 19 NORTH, RANGE 23 EAST, MOUNT DIABLO MERIDIAN, STOREY COUNTY, STATE OF NEVADA BEING A PORTION OF PARCEL 2008-87, AS SHOWN ON THAT “RECORD OF SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER,
LLC”, FILED IN THE OFFICE OF THE STOREY COUNTY RECORDER, JANUARY 15, 2009, FILE NO. 110530, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT, FROM WHICH POINT THE SOUTHWEST CORNER OF SAID SECTION 6 BEARS SOUTH 83°34.52. WEST, 2553.29 FEET; 

THENCE NORTH 37°10.39. WEST, 650.50 FEET; 

THENCE NORTH 52°49.21. EAST, 468.75 FEET TO THE NORTH LINE OF SAID PARCEL 2008-87; 

THENCE, ALONG SAID NORTH LINE, SOUTH 37°10.39. EAST, 650.50 FEET; 

THENCE, LEAVING SAID NORTH LINE, SOUTH 52°49.21. WEST, 468.75 FEET TO THE POINT OF BEGINNING. 

THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED MAY 13, 2009, AS DOCUMENT NO. 111168 OF OFFICIAL
RECORDS. 
 PARCEL 4: 

INTENTIONALLY DELETED 

  
 First American Title
Insurance Company 
 Addendum 2 

-2- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 7
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 PARCEL 5: 

INTENTIONALLY DELETED 
 PARCEL 6:

 PARCEL 2014-4 OF RECORD OF SURVEY MAP NO. 120562, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON JUNE 30,
2014, AS FILE NO. 120562, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN REAL PROPERTY SITUATED
WITHIN A PORTION OF THE NORTH ONE-HALF (1/2) OF SECTION TWELVE (12), TOWNSHIP 19 NORTH, RANGE 22 EAST, MOUNT DIABLO MERIDIAN, STOREY COUNTY, STATE OF NEVADA, BEING A PORTION OF PARCEL 2009-39 AS SHOWN ON THAT “RECORD OF SURVEY FOR
TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER, DECEMBER 04, 2009, AS DOCUMENT NO. 112341, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA. MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT THE NORTHEAST CORNER OF SAID PARCEL 2009-39, BEING THE NORTHEAST CORNER OF SAID SECTION TWELVE (12), THENCE, ALONG THE EAST LINE
OF SAID PARCEL, SOUTH 00°56’57” WEST, 988.90 FEET; 
 THENCE, LEAVING SAID EAST LINE, SOUTH 89°54’15” WEST,
3358.63 FEET; 
 THENCE, SOUTH 71°09’26” WEST, 116.44 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 570.00 FEET, A CENTRAL ANGLE OF 35°24’30”, AND AN ARC LENGTH OF
352.26 FEET; 
 THENCE, SOUTH 35°44’56” WEST, 560.61 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 810.00 FEET, A CENTRAL ANGLE OF 19°09’56”, AND AN ARC LENGTH OF
270.95 FEET; 
 THENCE, SOUTH 16°35’00” WEST, 20.98 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 870.00 FEET, A CENTRAL ANGLE OF 06°39’25”, AND AN ARC LENGTH OF
101.08 FEET, TO THE NORTH LINE OF EAST SYDNEY DRIVE, AS DESCRIBED PER DEDICATION DOCUMENT NO. 107605, OFFICIAL RECORDS OF STOREY COUNTY; 

THENCE, ALONG SAID NORTH LINE, ALONG A NON-TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 90.00 FEET, A CENTRAL ANGLE OF 55°45’04”,
WITH A RADIAL LINE IN OF SOUTH 01°30’00” WEST AND A RADIAL LINE OUT OF NORTH 54°15’04” WEST FOR AN ARC LENGTH OF 87.57 FEET, TO THE WEST LINE OF SAID EAST SYDNEY DRIVE; 

THENCE, ALONG SAID WEST LINE OF EAST SYDNEY DRIVE, SOUTH 35°44’56” WEST, 114.04 FEET; 

THENCE, LEAVING SAID WEST LINE OF EAST SYDNEY DRIVE, ALONG THE WEST LINE OF SAID PARCEL 2009-39, ALONG A NON-TANGENT CURVE TO THE LEFT, HAVING
A TANGENT BEARING OF NORTH 35°44’56” EAST HAVING A RADIUS OF 810.00 FEET, A CENTRAL ANGLE OF 19°09’56”, AND AN ARC LENGTH OF 270.95 FEET; 

  
 First American Title
Insurance Company 
 Addendum 2 

-3- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 8
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 THENCE, CONTINUING ALONG SAID WEST LINE OF PARCEL 2009-39, NORTH 16°35’00”
EAST, 20.98 FEET; 
 THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 870.00 FEET, A CENTRAL ANGLE OF 19°09’56”,
AND AN ARC LENGTH OF 291.02 FEET, 
 THENCE, NORTH 35°44’56” EAST, 560.61 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 630.00 FEET, A CENTRAL ANGLE OF 35°24’30”, AND AN ARC LENGTH OF
389.33 FEET; 
 THENCE, NORTH 71°09’26” EAST, 118.20 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 620.00 FEET, A CENTRAL ANGLE OF 23°29’47”, AND AN ARC LENGTH OF
254.26 FEET; 
 THENCE, NORTH 47°39’39” EAST, 417.70 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 620.00 FEET, A CENTRAL ANGLE OF 04°41’29”, AND AN ARC LENGTH OF
50.77 FEET; 
 THENCE, NORTH 42°58’10” EAST, 184.32 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 850.00 FEET, A CENTRAL ANGLE OF 36°27’03”, AND AN ARC LENGTH OF
540.76 FEET; 
 THENCE, NORTH 79°25’13” EAST, 484.95 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 850.00 FEET, A CENTRAL ANGLE OF 11°12’48”, AND AN ARC LENGTH OF
166.35 FEET; 
 THENCE, NORTH 00°38’01” EAST, 14.69 FEET, TO THE NORTH LINE OF SAID PARCEL 2009-39; 

THENCE, ALONG SAID NORTH LINE, SOUTH 89°21’59” EAST, 1596.78 FEET, THE POINT OF BEGINNING. 

THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED JUNE 30, 2014, AS DOCUMENT NO. 120563 OF OFFICIAL
RECORDS. 
 PARCEL 7: 

INTENTIONALLY DELETED 
 PARCEL 8:

 INTENTIONALLY DELETED 

  
 First American Title
Insurance Company 
 Addendum 2 

-4- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 9
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 PARCEL 9: 

PARCEL 2014-9 OF RECORD OF SURVEY MAP NO. 120564, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON JUNE 30,
2014, AS FILE NO. 120564, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN REAL PROPERTY SITUATED
WITHIN A PORTION OF THE EAST ONE-HALF (1/2) OF SECTION ONE (1), TOWNSHIP 19 NORTH, RANGE 22 EAST, AND PORTIONS OF SECTIONS SIX (6), AND THE NORTH ONE-HALF (1/2) OF SECTION SEVEN (7), TOWNSHIP 19 NORTH, RANGE 23 EAST, MOUNT DIABLO MERIDIAN,
STOREY COUNTY, STATE OF NEVADA, BEING A PORTION OF PARCEL 2009-7 AS SHOWN ON THAT “RECORD OF SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER, MAY 13, 2009, AS DOCUMENT NO, 111167,
OFFICIAL RECORDS OF STOREY COUNTY, NEVADA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE SOUTHWEST CORNER OF SAID PARCEL
2009-7, BEING THE WEST ONE-QUARTER (1/4) CORNER OF SAID SECTION SEVEN (7), THENCE, ALONG THE WEST LINE OF SAID PARCEL, 
 BEGINNING AT A
POINT ON THE SOUTHERLY LINE OF SAID PARCEL 2009-7, ALSO BEING THE SOUTHEAST CORNER OF SAID SECTION SEVEN (7); 
 THENCE, ALONG SAID SOUTHERLY
LINE OF PARCEL 2009-7, NORTH 89°21’59” WEST, 1596.76 FEET; 
 THENCE, LEAVING SAID SOUTHERLY LINE, NORTH
00°38’01” EAST, 282.77 FEET; 
 THENCE NORTH 31°23’52” EAST, 2934.29 FEET; 

THENCE, SOUTH 58°36’24” EAST, 672.98 FEET; 

THENCE, NORTH 31°23’36” EAST, 512.57 FEET; 

THENCE ALONG A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1340.00 FEET, A CENTRAL ANGLE OF 12°34’29”, WITH A RADIAL LINE
IN OF SOUTH 31°23’36” WEST AND A RADIAL LINE OUT OF NORTH 43°58’05” EAST FOR AN ARC LENGTH OF 294.09 FEET; 

THENCE, SOUTH 46°01’55” EAST, 1323.58 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1350.00 FEET, A CENTRAL ANGLE OF 08°51’16”, AND AN ARC LENGTH OF
208.63 FEET; 
 THENCE, SOUTH 37°10’39” EAST, 691.35 FEET; 

THENCE, SOUTH 52°49’21” WEST, 468.75 FEET; 

THENCE, SOUTH 37°10’39” EAST, 1020.03 FEET; 

THENCE, SOUTH 80°55’36” EAST, 156.06 FEET; 

THENCE, NORTH 52°49’21” EAST, 335.86 FEET; 

THENCE, ALONG A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1450.00 FEET, A CENTRAL ANGLE OF 24°27’22”, WITH A RADIAL LINE
IN OF SOUTH 63°28’16” WEST AND A RADIAL LINE OUT OF NORTH 87°55’38” EAST FOR AN ARC LENGTH OF 618.92 FEET; 

  
 First American Title
Insurance Company 
 Addendum 2 

-5- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 10
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 THENCE, ALONG A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 1550.00 FEET, A CENTRAL ANGLE OF
32°44’13”, AND AN ARC LENGTH OF 885.62 FEET; 
 THENCE, SOUTH 34°48’36” EAST, 742.52 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 2550.00 FEET, A CENTRAL ANGLE OF 13°08’50”, AND AN ARC LENGTH OF
585.13 FEET; 
 THENCE, NORTH 89°39’48” WEST, 602.80 FEET; 

THENCE, NORTH 59°18’09” WEST, 2571.38 FEET; 

THENCE, SOUTH 89°54’15” WEST, 1622.76 FEET; 

THENCE, NORTH 00°56’57” EAST, 988.90 FEET, TO THE POINT OF BEGINNING. 

THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED JUNE 30, 2014, AS DOCUMENT NO. 120565 OF OFFICIAL
RECORDS. 
 PARCEL 10: 

INTENTIONALLY DELETED 
 PARCEL 11:

 INTENTIONALLY DELETED 

PARCEL 12: 
 INTENTIONALLY DELETED

 PARCEL 13: 
 PARCEL 2014-13
OF RECORD OF SURVEY MAP NO. 120567, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON JUNE 30, 2014, AS FILE NO. 120567, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

ALL THAT CERTAIN REAL PROPERTY SITUATED WITHIN PORTIONS OF THE WEST ONE-HALF (1/2) OF SECTION FIVE (5), SECTION SIX (6), THE NORTHEAST
ONE-QUARTER (1/4) OF SECTION SEVEN (7), AND THE NORTHWEST ONE-QUARTER (1/4) OF SECTION 8, TOWNSHIP 19 NORTH, RANGE 23 EAST, MOUNT DIABLO MERIDIAN, STOREY COUNTY, STATE OF NEVADA, BEING ALL OF PARCEL 2014-1 AS SHOWN ON THAT “RECORD OF
SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER, ON JUNE 30, 2014, AS DOCUMENT NO. 0120559. 

  
 First American Title
Insurance Company 
 Addendum 2 

-6- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 BEING A PORTION OF PARCEL 2012-7 AS SHOWN ON THAT “RECORD OF SURVEY TO SUPPORT A
BOUNDARY LINE ADJUSTMENT FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER, OCTOBER 02, 2012, AS DOCUMENT NO. 117414, BEING ALL OF PARCELS 2012-11 AND 2012-12 AS SHOWN ON THAT “RECORD OF

  
 First American Title
Insurance Company 
 Addendum 2 

-7- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 11
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 
SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER. DECEMBER 04, 2012, AS DOCUMENT NO. 117725, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA, AND
BEING ALL OF PARCELS 2012-15 AND 2012-16, AND A PORTION OF PARCELS 2012-14 AND 2012-17 AS SHOWN ON THAT “RECORD OF SURVEY FOR TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY
COUNTY RECORDER, DECEMBER 04, 2012, AS DOCUMENT NO. 117727, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA MORE PARTICULARLY DESCRIBED AS FOLLOWS; 

BEGINNING AT THE NORTHWEST CORNER OF SAID PARCEL 2012-11, SAID POINT BEING ON THE SOUTH LINE OF MILAN DRIVE AS DESCRIBED IN DEDICATION DEED
DOCUMENT NO. 110596, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA; 
 THENCE, ALONG SAID SOUTH LINE OF MILAN DRIVE AND ITS EXTENSION THEREOF,
SOUTH 88°40’40” EAST, 1605.31 FEET; 
 THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 910.00 FEET, A CENTRAL
ANGLE OF 30°56’06”, AND AN ARC LENGTH OF 491.33 FEET; 
 THENCE, NORTH 60°23’14” EAST, 317.00 FEET; 

THENCE, LEAVING THE SOUTH LINE OF MILAN DRIVE, SOUTH 37°51’40” EAST, 5271.04 FEET; 

THENCE, SOUTH O0°38’30” WEST, 2540.48 FEET; 

THENCE, SOUTH 59°39’43” WEST, 2246.95 FEET; 

THENCE, SOUTH 53°46’10” EAST, 580.76 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1150.00 FEET, A CENTRAL ANGLE OF 03°17’21”, WITH A RADIAL LINE IN
OF SOUTH 36°13’50” WEST AND A RADIAL LINE OUT OF NORTH 39°31’11” EAST FOR AN ARC LENGTH OF 66.02 FEET, TO THE SOUTH LINE OF SAID PARCEL 2012-14, ALSO BEING THE SOUTH LINE OF SAID SECTION 8; 

THENCE, CONTINUING ALONG SAID SOUTH LINE OF PARCEL 2012-14, NORTH 89°14’53” WEST, 163.12 FEET, TO THE WEST ONE-QUARTER
(1/4) CORNER OF SAID SECTION 8; 
 THENCE, NORTH 89°39’48” WEST, 176.42 FEET; 

THENCE, LEAVING THE SOUTH LINE OF SAID PARCEL 2012-14, ALONG ITS WESTERLY LINE, NORTH 53°46’10 “WEST, 370.99 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 2550.00 FEET, A CENTRAL ANGLE OF 18°57’34”, AND AN ARC LENGTH OF
843.81 FEET; 
 THENCE, NORTH 34°48’36” WEST, 742.52 FEET; 

  
 First American Title
Insurance Company 
 Addendum 2 

-8- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 THENCE, ALONG A TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1550.00 FEET, A CENTRAL ANGLE
OF 32°44’13”, AND AN ARC LENGTH OF 885.62 FEET; 
 THENCE, ALONG A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 1450.00 FEET, A
CENTRAL ANGLE OF 35°06’16”, AND AN ARC LENGTH OF 888.40 FEET; 

  
 First American Title
Insurance Company 
 Addendum 2 

-9- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 12
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 THENCE, NORTH 37°10’39” WEST, 1556.18 FEET, TO A POINT ON THE WESTERLY LINE OF
SAID PARCEL 2012-7; 
 THENCE, ALONG SAID WESTERLY LINE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 1350.00 FEET, A CENTRAL ANGLE
OF 08°51’16”, AND AN ARC LENGTH OF 208.63 FEET; 
 THENCE, NORTH 46°01’55” WEST, 1323.58 FEET; 

THENCE, ALONG A TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 1340.00 FEET, A CENTRAL ANGLE OF 12°34’29”, AND AN ARC LENGTH OF
294.09 FEET; 
 THENCE, LEAVING SAID WESTERLY LINE OF PARCEL 2012-7, NORTH 31°23’36” EAST, 200.00 FEET, TO THE MOST WESTERLY
CORNER OF SAID PARCEL 2012-12; 
 THENCE, ALONG THE WESTERLY LINE OF SAID PARCEL 2012-12, NORTH 88°42’42” EAST, 188.30 FEET, TO
THE SOUTHWEST CORNER OF SAID PARCEL 2012-11; 
 THENCE, ALONG THE WEST LINE OF SAID PARCEL 2012-11, NORTH 01°19’20” EAST,
2228.00 FEET, TO THE POINT OF BEGINNING. 
 THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED JUNE
30, 2014, AS DOCUMENT NO. 120568 OF OFFICIAL RECORDS. 
 PARCEL 14: 

PARCEL 2014-15 OF RECORD OF SURVEY MAP NO. 120567, FILED IN THE OFFICE OF THE COUNTY RECORDER OF STOREY COUNTY, STATE OF NEVADA ON JUNE 30,
2014, AS FILE NO. 120567, OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN REAL PROPERTY SITUATED
WITHIN A PORTION OF THE NORTHEAST ONE-QUARTER (1/4) OF SECTION SEVEN (7), TOWNSHIP 19 NORTH, RANGE 23 EAST, MOUNT DIABLO MERIDIAN, STOREY COUNTY, STATE OF NEVADA, BEING A PORTION OF PARCEL 2012-14 AS SHOWN ON THAT “RECORD OF SURVEY FOR
TAHOE-RENO INDUSTRIAL CENTER, LLC”, RECORDED IN THE OFFICE OF THE STOREY COUNTY RECORDER, DECEMBER 04, 2012, AS DOCUMENT NO. 117727, OFFICIAL RECORDS OF STOREY COUNTY, NEVADA MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT, FROM WHICH POINT THE NORTHEAST CORNER OF SAID SECTION SEVEN BEARS NORTH 83°59’07” EAST, 1294.45 FEET; 

THENCE, SOUTH 09°20’51” WEST, 100.00 FEET; 

THENCE, NORTH 80°39’09” WEST, 80.00 FEET; 

THENCE, NORTH 09°20’51” EAST, 100.00 FEET; 

THENCE, SOUTH 80°39’09” EAST, 80.00 FEET, THE POINT OF BEGINNING. 

  
 First American Title
Insurance Company 
 Addendum 2 

-10- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

					
	Form No. 1068-2	  	Commitment No. 121-2466598
		
	ALTA Plain Language Commitment	  	Page Number: 13
			
		  	Property Address:	  	005-091-17, 18, 29 & 34, 005-011-22 & 24 McCarran, NV

  

 THE ABOVE METES AND BOUNDS DESCRIPTION APPEARED PREVIOUSLY IN THAT CERTAIN DOCUMENT RECORDED
JUNE 30, 2014, AS DOCUMENT NO. 120568 OF OFFICIAL RECORDS. 
 PARCEL 15: 

INTENTIONALLY DELETED 
 PARCEL 16:

 INTENTIONALLY DELETED 

PARCEL 17: 
 INTENTIONALLY DELETED

 PARCEL 18: 
 INTENTIONALLY
DELETED 
 PARCEL 19: 

INTENTIONALLY DELETED 
 PARCEL 20:

 INTENTIONALLY DELETED 

PARCEL 21: 
 A NON-EXCLUSIVE
EASEMENT FOR ACCESS AND UTILITIES AS SET FORTH IN DOCUMENT RECORDED MAY 13, 1999 AS DOCUMENT NO. 111166 OF OFFICIAL RECORDS. 

  
 First American Title
Insurance Company 
 Addendum 2 

-11- 
 [***] Information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 Appendix A-2 

[***] 

  
 [***] Information has been
omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions. 

 Confidential Treatment Requested by Tesla Motors, Inc. 

 

 APPENDIX B TO FACTORY LEASE:

 Factory Utilities, Tenant Utilities, and Certain Factory Systems and Tenant Improvements 

 

	a.	Factory Utilities. Tesla is responsible for procuring the following as Factory Utilities: 

[***] 
  

	b.	Certain Factory Systems. Tesla is responsible for procuring, installing, and maintaining the following Property: 

[***] 
  

	c.	Tenant Utilities. Tenant is responsible for procuring the following as Tenant Utilities: 

[***] 
  

	d.	Certain Tenant Improvements. Tenant is responsible for procuring and installing, but Tesla is responsible for maintaining, the following Property: 

[***] 
  

	e.	Certain Tenant Improvements. Tenant is responsible for procuring, installing, and maintaining the following Property: 

[***] 

  
  

			
	Appendix B to Gigafactory Lease	  	
	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.EX-10.2

 Exhibit 10.2 

Confidential Treatment Requested by Tesla Motors, Inc. 

CONFIDENTIAL 
 GENERAL TERMS AND
CONDITIONS 
 These General Terms and Conditions (“General Terms”) are entered into effective as of October 1, 2014 (“Effective
Date”) by and between Tesla Motors, Inc., a Delaware corporation located at 3500 Deer Creek Road, Palo Alto, California, 94304 (“Tesla”), on the one hand, and Panasonic Corporation (“Seller”), on the other
hand. Each Tesla and Seller entity is referred to herein as a “Party” and such entities are collectively referred to herein as the “Parties.” 

PURPOSE 
 Tesla desires to engage Seller
to develop, supply, and support products for use in Tesla Products and, in connection with that purpose, Seller desires to lease space within a manufacturing facility owned by Tesla (the “Factory”). These General Terms shall
govern the relationship of the Parties. 
  

	1.	Production Planning and Order Process. 

  

	1.1	Production Planning.

  

	 	(a)	Each month during the Term, Tesla will provide a rolling monthly forecast of its anticipated requirements for Goods for the following periods of time: (i) for the next [***] for each forecast provided until Seller has
invested in Seller’s Property required for Seller’s manufacture, supply and/or provision of Goods at the Factory in volumes up to an annual aggregate energy capacity of thirty-five gigawatt-hours (35 GWh); and (ii) for the next [***] for
each forecast provided thereafter. Tesla’s forecast is non-binding and provided for planning purposes only. At a monthly meeting led by Tesla (“Production Meeting”), the Parties shall review in good faith
Tesla’s forecast, the supply chain and other requirements to manufacture per Tesla’s forecast, any potential or actual constraints on Seller’s ability to manufacture Goods in accordance with Tesla’s forecast, and other business-
and production-related issues. The Parties may also mutually agree to invite sub-suppliers that are colocated at the Factory to attend the Production Meeting. The Parties will then establish a production plan and/or update the existing
production plan for manufacture and delivery of Goods based on the applicable Lead Time(s). Seller shall not withhold, condition or delay its consent to Tesla’s proposed production plan if Seller is capable of meeting Tesla’s
forecast, based on such factors as supply chain constraints, labor constraints, and the performance capability of the Property. The agreed plan is the “Production Plan.” The Parties may agree in writing to adjust the
Production Plan at any time. 

  

	 	(b)	At the Production Meeting, the Parties shall also discuss in good faith (i) Seller’s progress in achieving the operational targets set forth in the Contract and the Production Plan, (ii) Seller’s proposed
procurement, transportation, installation, or configuration at the Factory of Seller’s Property in connection with the Contract and the Production Plan, and (iii) additional topics proposed by Tesla and/or Seller. Seller shall not invest
in Seller’s Property without Tesla’s prior written consent for each investment. For clarification, each investment by or for Seller in Seller’s Property required for Seller’s manufacture, supply and/or provision of Goods at
the Factory for Tesla will be subject to a separate written agreement between the Parties and Seller will not be obliged to make any such investment without the separate written agreement. 

 

	 	(c)	Except as otherwise agreed in writing by Tesla and Seller, the Parties shall, for the purpose of exploring the cost effectiveness of the Goods, simplifying logistics, reducing Lead Time, and other agreed reasons, use
Commercially Reasonable Efforts to cause Seller’s sub-suppliers required for production of Goods at the Factory to establish operations at the Factory on or around the mutually-agreed timing. For the avoidance of doubt, Tesla acknowledges
that Seller cannot guarantee that its sub-suppliers will agree to establish operations at the Factory. 

  

			
	Tesla-Panasonic General Terms and Conditions	  	Page 1 of 26
	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

CONFIDENTIAL 
  

 

	1.2	Offer. The Authorized Purchasers will issue one or more Purchase Orders in accordance with the approved Production Plan and (unless agreed otherwise) at least [***], specifying quantities and delivery days
for Goods as contemplated therein (each such order is a “Production Order”). The Authorized Purchasers may also issue Purchase Orders to Seller for Goods, including development parts (each such order is a “Discrete
Order”). Purchase Orders will be issued on a rolling basis [***]. Purchase Orders accepted by Seller are binding to the extent set forth in Section 1.5. 

 

	1.3	Acceptance. Seller shall accept or reject each Purchase Order as follows: [***] after receipt of a Production Order which conforms to the Production Plan; and [***] after receipt of either
a Discrete Order or a Production Order which does not conform to the Production Plan. If Seller cannot meet the terms set forth in a Purchase Order, Seller will inform Tesla and propose alternative terms. If Tesla accepts such alternative
terms, Tesla shall issue a revised Purchase Order that includes such alternative terms. Alternative terms are expressly rejected unless incorporated into a Purchase Order. Notwithstanding the foregoing, Seller may only reject a Production
Order to the extent it fails to conform to the terms of the Production Plan, and Seller shall be deemed to have waived any objections and accepted the Production Order if Seller fails to object in writing within the timeframe specified
above. Seller’s acceptance of a Purchase Order is referred to as the “Acceptance”. 

  

	1.4	Terms of the Contract. Upon Seller’s Acceptance, the terms of the relevant Purchase Order, together with the terms in the other relevant Contract Documents, will become a binding contract between Tesla
and Seller (each, a “Contract”). Acceptance is expressly limited to the terms provided by the Contract. Terms in any invoice and any other modifications, counterproposals, or counteroffers proposed by Seller to a Purchase
Order are expressly rejected and shall not become part of the Contract. 

  

	1.5	Purchase Order Liability. Tesla may, at any time and without any liability to Seller, adjust the volume(s) of Goods under any Contract, up or down, as follows upon written notice: (a) by up to
[***] for Goods to be delivered [***] after the date of Tesla’s notice, provided that such timeframe is within the applicable Lead Time and such timeframe shall be increased by the period of time reasonably required for Seller to ship materials
from its current offshore suppliers (not to exceed a total of [***]) (for example, by giving notice on January 15, Tesla may adjust the volume of Goods to be delivered between [***]; (b) [***] after the date of Tesla’s notice, provided
that such timeframe is within the applicable Lead Time and such timeframe shall be increased by the period of time reasonably required for Seller to ship materials from its current offshore suppliers (not to exceed a total of [***]) (for example, by
giving notice on January 15, Tesla may adjust the volume of Goods to be delivered between [***]; and (c) [***], subject only to Seller’s actual capacity, labor constraints and supply chain constraints, for Goods to be delivered after the
period of time following such notice that is equal to the applicable Lead Time. Seller shall be deemed to automatically consent to any such adjustment pursuant to this Section 1.5 without the need for a written consent.

 

	1.6	Purchase Commitment. Tesla will commit to purchase all conforming and non-defective Goods during the Term and pursuant to the Production Plan up to an annual aggregate energy capacity of thirty-five
gigawatt-hours (35 GWh); provided, however, that: (a) [***]; (b) the Goods [***]; and (c) market conditions support the purchase of Goods in volumes contemplated by the Production Plan, but without limiting Tesla’s commitments in
written agreements between the Parties for investments in Seller’s Property as contemplated in Section 1.1(b). 

  

	2.	Goods. 

  

	2.1	Quantity. Quantities and delivery dates shall be as stated in the applicable Purchase Order accepted by Seller, unless otherwise agreed to in writing by the Parties. If Seller has reason to believe that
its ability to deliver any Goods is or may be constrained, Seller shall [***] notify Tesla setting forth the cause for the anticipated delay. Any oral communication shall be [***] confirmed in writing.

 

	2.2	Changes.

  

	 	(a)	 Seller shall not make any change to: (i) the Goods without Tesla’s prior written consent, which Tesla may
withhold in its sole but reasonable discretion; (ii) its manufacturing process in a manner that could result in non-conforming or defective Goods or that could impact operations at the Factory of one or more other companies (i.e. Tesla and/or a
colocated sub-supplier) without Tesla’s prior written 

  

			
	Tesla-Panasonic General Terms and Conditions	  	Page 2 of 26
	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

CONFIDENTIAL 
  

	 	consent, which Tesla will not unreasonably withhold; and (iii) its suppliers in a manner that could result in non-conforming or defective Goods or that could impact operations at the Factory of one or more other
companies (i.e. Tesla and/or a colocated sub-supplier) without prior written notice to Tesla, provided that (A) Seller shall consider any objections by Tesla in good faith and discuss the proposed change with Tesla in good faith, and (B) Seller
shall not make any such change that will, or is reasonably likely to, adversely affect any of the following with respect to the Goods: [***].

  

	 	(b)	[***]. If [***], Seller shall use Commercially Reasonable Efforts to notify Tesla in writing within [***] after receipt of such request or proposal and prior to making the change if such change will affect [***],
and Seller shall also provide the basis for such determination. If Seller proposes a change hereunder, Tesla will use Commercially Reasonable Efforts to respond to Seller’s proposal within [***]. Tesla and Seller will negotiate in
good faith on [***] in connection with [***], but the [***] shall not [***] due to [***] unless [***]. For clarification, Seller is not obliged to make such change requested or proposed by Tesla unless [***] or other appropriate [***] in
connection with such change is agreed between the Parties in writing. 

  

	2.3	[***]. Tesla may propose that Seller [***]. In such case, Seller will discuss with Tesla and consider such proposal in good faith.

 

	2.4	Tesla Responsibilities.  

  

	 	(a)	In order to facilitate Seller’s performance of its obligations under the Contract, Tesla will perform those tasks and fulfill those responsibilities of Tesla (including, as applicable, provision of Tesla-Supplied
Items) as expressly set forth in these General Terms and/or the Contract (“Tesla Responsibilities”). Seller’s performance of its obligations may be dependent in some circumstances on Tesla’s timely and effective
performance of the Tesla Responsibilities and timely decisions and approvals by Tesla. 

  

	 	(b)	Tesla’s failure to perform any of the Tesla Responsibilities (or cause them to be performed) will not constitute grounds for termination by Seller except as provided in Section 13.3 (Termination); provided,
however, that Seller’s nonperformance of its obligations under these General Terms and/or the Contract will be excused if and to the extent (i) such nonperformance results from Tesla’s failure to perform any Tesla Responsibilities,
and (ii) Seller provides Tesla with reasonable notice of such nonperformance and, if requested by Tesla, uses Commercially Reasonable Efforts to perform notwithstanding Tesla’s failure to perform. If Seller’s use of Commercially
Reasonable Efforts to perform its obligations in such a circumstance would cause Seller to incur significant uncompensated expenses, Seller may notify Tesla. In that case, Seller’s obligation to continue its efforts to work around
Tesla’s failure to perform Tesla Responsibilities will be subject to Tesla agreeing to reimburse Seller for its actual, reasonable and incremental uncompensated expenses. The Parties shall also discuss in good faith Seller’s actual
and reasonable out-of-pocket costs and expenses caused by Tesla’s failure to perform any Tesla Responsibility (e.g. loss of material, increased labor costs) and, subject to Section 12 (Liability), Tesla will be responsible for reimbursing such
costs and expenses which Seller cannot mitigate or avoid using Commercially Reasonable Efforts. 

  

	 	(c)	From time to time, Tesla may provide Seller with access to proprietary computer systems and technologies owned and operated by Tesla and/or its Affiliates (the “Systems”) to facilitate the performance
of Seller’s obligations under the Contract. Seller is not obliged to use the Systems unless agreed by Seller in writing. Seller will only use the Systems for the business purposes of Tesla. Tesla may periodically monitor all uses
of the Systems as allowed by law and review user access records maintained by Seller. To the maximum extent permitted by applicable Law, Seller’s users will have no expectation of privacy in connection with their use of the
Systems. Seller shall be solely responsible for obtaining and maintaining the hardware and software it uses which are necessary to properly access the Systems and perform its obligations under the Contract. 

  

			
	Tesla-Panasonic General Terms and Conditions	  	Page 3 of 26
	[***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

 Confidential Treatment Requested by Tesla Motors, Inc. 

CONFIDENTIAL 
  

	3.	Delivery.  

  

	3.1	Packing and Shipment. Tesla may specify the method of transportation and the type and number of packing slips and other documents to be provided with each shipment. The Parties shall discuss in good
faith and agree on the manner in which Seller will pack and ship Goods, including labeling and hazardous materials instructions. If Tesla has not provided packing or shipping instructions, Seller will pack and ship Goods in accordance with
industry standards (with reference to the lithium-ion battery cell industry). If Seller is required to use Tesla’s returnable packaging, the Parties will discuss in good faith the responsibility for cleaning and maintaining such returnable
packaging. 

  

	3.2	Delivery Terms. Seller will deliver Goods in strict accordance with the Contract terms. Unless otherwise stated in the Contract, Goods will be delivered [***] and title and risk of loss will transfer
upon receipt of the Goods by Tesla. 

  

	3.3	Time is of the Essence. TIME IS OF THE ESSENCE AS TO DELIVERY OF ALL GOODS. If Seller does not deliver any Goods in accordance with the Production Plan then, subject to Sections 2.4 (Tesla
Responsibilities) and 12.2 (Force Majeure) and except for any other cause attributable to Tesla, Seller shall be in Default. In addition to any other obligations to which Seller shall be subject to under the Contract, if Seller cannot meet the
delivery dates and/or quantities of Goods specified in the Contract, Seller will promptly notify Tesla and the Authorized Purchaser and: (a) Seller shall provide substitute goods at the agreed price in the Contract from its operations at the
Factory or elsewhere; and (b) if Seller cannot provide substitute goods within a reasonable time, the Authorized Purchaser may cancel any remaining portion(s) of the relevant Contract(s) without liability to Seller, in which case the required
volumes set forth in writing between the Parties (e.g. Production Plan) shall be reduced. 

  

	3.4	Over-Shipments. If Seller delivers more Goods than specified in an Order, the Parties shall discuss the over-shipment in good faith and Seller shall, at its sole discretion, either: (a) accept the return of
the Goods delivered in excess of the Order [***] (the “Excess Goods”), or (b) allow the Authorized Purchaser to retain the Excess Goods [***], in which case the Authorized Purchaser may also in its sole discretion reduce the
quantities for future deliveries under the Production Plan and under its Order(s) by the quantity of Excess Goods. 

  

	3.5	[***]. During the Term, Seller shall not [***] Goods which are manufactured at the Factory, [***] unless: (a) Tesla gives prior written consent, which Tesla may withhold in its sole but reasonable
discretion; and (b) [***], as reasonably determined by both Parties based on a good faith discussion, [***]. Prior to [***] under this Section, Tesla shall, as reasonably requested by Seller, provide to Seller the information reasonably
required for Seller to comply with sub-paragraph (b) above, including, the [***]. 

  

	4.	Invoicing and Payment. 

  

	4.1	[***]. Seller shall provide Tesla [***]. Such information shall be deemed to be Seller’s Highly Confidential Information under the NDA. 

 

	4.2	Pricing. The pricing and pricing methodology applicable to the Goods shall be set forth in the then-current Pricing Agreement. 

 

	4.3	Invoicing. Invoices will be in the currency specified in the Pricing Agreement, unless otherwise agreed, and will be sent to Tesla’s Accounts Payable Department as reasonably directed by Tesla. The
invoice will detail the Goods for which payment is being requested, and the applicable Purchase Order number. Charges associated with shipping for which Tesla is responsible will be invoiced separately.

 

	4.4	Payment. Except as otherwise provided in the Contract, Tesla will pay Seller’s charges [***] days after receipt of each invoice; provided, however, that (i) Tesla may withhold payment of any invoiced
charges that Tesla disputes in good faith; (ii) payment of any charges shall not be deemed an approval of such charges or acceptance of non-conforming Goods, and Tesla or the Authorized Purchaser may later dispute such charges; and
(iii) Tesla’s or the Authorized Purchaser’s payment of charges shall not relieve Seller of any of its warranties or other obligations under the Contract. If any Authorized Purchaser is repeatedly late or early in making payment,
the Parties shall discuss in good faith whether to adjust the then-current payment terms and pricing methodology. 

  

			
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	4.5	[***]. If any Authorized Purchaser fails to pay undisputed amounts due in a timely manner which are in a material amount, Seller may give notice to Tesla and the Parties shall within a reasonable time discuss in
good faith at a meeting with senior representatives of both Parties. If the Authorized Purchaser fails to pay promptly after the meeting, [***] until Tesla or the Authorized Purchaser pays the undisputed amounts in full which are past
due.

  

	4.6	Credits; Customs. Credits or benefits related to taxes and export/import duties resulting from the Contract, including trade credits, export credits or the rights to the refund of duties, taxes, or
fees, belong to Tesla unless otherwise prohibited by applicable law. Seller shall retain all information related to the Goods and/or materials therefor (as applicable) as required by United States and any other applicable customs authorities,
and shall provide all such information and certificates related to the Goods and/or materials therefor (as applicable) (including NAFTA Certificates of Origin) necessary to permit Tesla to receive these benefits or credits. Seller will provide
Tesla with all information and records relating to the Goods necessary for Tesla to: (a) receive these benefits, credits, and rights; (b) fulfill any customs obligations, origin marking or labeling requirements, and certification or local content
reporting requirements; (c) claim preferential duty treatment under applicable trade preference regimes; and (d) participate in any duty deferral or free trade zone programs of the country of import. If and to the extent applicable, Seller
(or, if applicable, its supplier) will obtain export licenses and authorizations and pay export taxes, duties, and fees related to the Goods and/or materials therefor (as applicable) which are imposed, levied or otherwise payable prior to delivery
of such Goods and/or materials (as applicable) to the Authorized Purchaser unless otherwise stated in the Contract, in which case Seller will provide all information and records necessary to enable Tesla to obtain those export licenses or
authorizations. 

  

	4.7	Taxes.  

  

	 	(a)	This Section 4.7 sets forth the allocation of responsibility between the Parties for taxes arising out of or in relation to these General Terms and each Contract.

 

	 	(b)	Unless otherwise stated in the Contract, including the then-current Pricing Agreement, the Contract price includes all applicable federal, state, provincial, and local taxes other than sales, value added, or similar
turnover taxes or charges. The Goods purchased from Seller are for resale which is exempt from all sales, use, value added or similar taxes, and Seller will not charge sales, use, value added or similar taxes on its invoices to Tesla for Goods
provided that Tesla has provided Seller a valid resale certificate for Seller’s records. If Seller is required by law to pay or collect from Tesla any taxes or charges, Seller will separately invoice Tesla for such taxes or charges subject
to Section 4.6 (Credits).

  

	 	(c)	Subject to Section 4.8(b) above, each Party will remain responsible for and shall pay (without reimbursement) any and all taxes that are assessed on any goods or services used or consumed by such Party (or its
Affiliates) in performing its obligations under the Contract where the tax is imposed on such Party’s (or its Affiliates’) acquisition or use of the goods or services in the performance of such obligations, and other personal property
taxes on property owned or leased by such Party (or its Affiliates) unless otherwise expressly provided in the Contract.

  

	 	(d)	Each Party shall be responsible for any: (i) taxes on its (or its Affiliates’) revenue, net income or gross receipts; (ii) franchise, business and occupational taxes (or similar in nature) on its business
activities, and (iii) employer-related taxes with respect to its personnel (e.g. employee taxes, workers compensation and unemployment insurance).

  

	 	(e)	The Parties agree to cooperate with each other to enable each to more accurately determine its own tax liability and to minimize such liability to the extent legally permissible.

  

			
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	5.	Product Warranties. 

  

	5.1	Product Warranties.  

  

	 	(a)	Seller represents and warrants to Tesla and the relevant Authorized Purchaser(s) that: (i) during a period ending [***] from the date of Seller’s [***] of the Goods, the Goods will be free from defects in design,
workmanship and material and will comply with the Specifications, and (ii) during the period ending [***] after the date of Seller’s [***] of the Goods, the Goods shall [***] (which may include [***] under the agreed conditions) (the foregoing
timeframes are, as applicable, the “Warranty Period”). Tesla hereby acknowledges and agrees that if Goods are not defective and/or comply with the applicable Specifications, it does not mean that a Tesla battery pack, Module and/or
Tesla Product cannot be defective for some other reason, including, without limitation, improper design or manufacturing by Tesla or a third party. 

  

	 	(b)	Exclusions. Notwithstanding anything herein to the contrary, the warranties in Section 5.1(a) will not apply to damage or Non-Conformities in Goods to the extent caused by any of the
following:

  

	 	(i)	the design, manufacture and/or function of the overall system, equipment and/or goods of which the Goods are part (e.g. Module, Tesla Product); 

 

	 	(ii)	accident or act of God; 

  

	 	(iii)	[***]; 

  

	 	(iv)	misuse, neglect, abuse, mishandling, misapplication, modification, alteration by Tesla, the relevant Authorized Purchaser or any third party, or improper installation, service, operation, storage, shipment,
testing, checkout or maintenance by Tesla, the relevant Authorized Purchaser or any third party; 

  

	 	(v)	failure by Tesla, the relevant Authorized Purchaser or any third party to follow (A) the reasonable instructions, cautions, warnings, and notes set forth in the Specifications, and/or (B) any other reasonable direction
from Seller; 

  

	 	(vi)	[***] in a Good due to any cause other than [***]; or 

  

	 	(vii)	[***] in a Good due to any cause other than [***]. 

  

	5.2	New Items; Title. Seller further represents and warrants to Tesla and the Authorized Purchasers that, upon delivery to the Authorized Purchaser, the Goods will: (i) be new (and not refurbished), unless
expressly approved otherwise in writing by Tesla in each case; and (ii) be free and clear of any and all liens, security interests, and encumbrances of any nature, with title vesting solely in the Authorized Purchaser. 

 

	5.3	Inspection. The Authorized Purchaser will inspect each shipment of Goods within [***] after receipt, using Commercially Reasonable Efforts to evaluate whether the Goods conform to the warranties set forth
herein (including [***]) within [***] after receipt.

  

	5.4	Procedure. If an Authorized Purchaser gives written notice during the Warranty Period in good faith that Goods fail to conform to any of the warranties in Section 5.1 (as applicable, a
“Non-Conformity”): 

  

	 	(a)	The Authorized Purchaser will, if requested by Seller, provide all available information regarding the alleged Non-Conformity in the Goods, including: [***] of the Tesla battery pack and/or Module; 

 

	 	(b)	Seller may require return of the Goods and/or inspect the Goods to verify the existence of a Non-Conformity [***]; 

  

	 	(c)	Tesla shall use Commercially Reasonable Efforts to support Seller’s verification of the existence of a Non-Conformity, and the Parties shall discuss the alleged Non-Conformity in good faith; 

 

	 	(d)	In the event of a disagreement or dispute as to the existence of a Non-Conformity, the Parties will [***] and whether such Non-Conformity resulted from a breach of Seller’s warranties as set forth in Section
5.1(a); 

  

			
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	 	(e)	Seller shall, within [***], provide replacement conforming Goods which are new (and not refurbished) for each Good which has a Non-Conformity as follows unless otherwise agreed in writing between the Parties: (i)
for each such Good [***]; and (ii) for each such Good [***]. If Tesla and Seller agree based on a good-faith discussion that the affected Good has a Non-Conformity, Panasonic shall replace the Good in accordance with the foregoing. If
Tesla and Seller do not agree based on a good-faith discussion whether the affected Good has a Non-Conformity and Seller does not establish that the Good is free of any Non-Conformity either within [***] after the Authorized Purchaser’s notice
or a longer time approved in writing by the Authorized Purchaser in its sole but reasonable discretion, [***]. If Seller establishes that the affected Good does not have a Non-Conformity within the timeframe referenced above (i.e. [***] or an
approved longer period), Seller will not be obligated to replace the Good under this Section 5. 

  

	 	(f)	Any replacement pursuant to this Section 5 shall be [***] and, subject to Section 5.9 [***] below, (A) the replacement shall be [***], and (B) [***]; and 

 

	 	(g)	If Seller instructs Tesla in writing to destroy and/or recycle any Goods with an actual or alleged Non-Conformity, Seller shall [***]. 

 

	5.5	Future Performance. All representations and warranties of Seller extend to future performance of the Goods during the Warranty Period and are not modified, waived or discharged by delivery, inspection, tests,
acceptance or payment. Tesla’s approval of any design, drawing, material, process or specifications in good faith will not relieve Seller of these representations and warranties. The warranties set forth in this Section 5 shall
survive acceptance and payment by Tesla and the termination or expiration of the Contract. 

  

	5.6	Application of Warranties. Seller agrees that the warranties set forth in this Section 5 extend to all Goods, notwithstanding the fact that such Goods delivered to Authorized Purchasers under the Contract
may be produced, in whole or in part, by any of Seller’s divisions, parent, subsidiaries, Affiliates, or suppliers and, therefore, such warranties shall not be disclaimed or otherwise limited in any way merely due to the fact that any Goods
have been produced by any such entity. 

  

	5.7	Disclaimer. THE WARRANTIES SET FORTH IN THESE GENERAL TERMS ARE EXCLUSIVE AND ARE IN LIEU OF ALL OTHER WARRANTIES WITH RESPECT TO THE GOODS, WHETHER ARISING FROM A COURSE OF DEALING, COURSE
OF PERFORMANCE OR TRADE USAGE, OR WHETHER ORAL, WRITTEN, EXPRESS, IMPLIED OR STATUTORY, ALL OF WHICH ARE HEREBY WAIVED BY TESLA, AUTHORIZED PURCHASERS AND SELLER. THE EMPLOYEES AND AGENTS OF EACH PARTY ARE NOT AUTHORIZED TO MAKE
MODIFICATIONS TO SUCH WARRANTIES, OR ADDITIONAL WARRANTIES BINDING ON SUCH PARTY; ACCORDINGLY, ADDITIONAL STATEMENTS, WHETHER ORAL OR WRITTEN, DO NOT CONSTITUTE WARRANTIES AND SHOULD NOT BE RELIED UPON BY THE OTHER PARTY. FOR THE
AVOIDANCE OF DOUBT, TESLA UNDERSTANDS THAT THE GOODS [***] (I) [***], (II) [***], OR (III) ANY OTHER CONDITIONS DIFFERENT FROM THOSE FOR WHICH THE GOODS WERE ORIGINALLY DESIGNED, AND THAT TESLA SHOULD TAKE PROPER STEPS TO
[***]. NO ACTION, SUIT OR ARBITRATION SHALL BE BROUGHT ON AN ALLEGED BREACH OF THE WARRANTIES SET FORTH IN THESE GENERAL TERMS MORE THAN [***] MONTHS FOLLOWING THE EXPIRATION OF THE APPLICABLE WARRANTY PERIOD.

  

	5.8	Quality Plan Requirements and Approval.

  

	 	(a)	Seller will supply Goods in accordance with a mutually-agreed quality plan (“Quality Plan”) which is developed during the design development process, during the Production Part Approval Process (PPAP),
and/or as listed in the applicable Specifications. Only after the Quality Plan for the Goods is approved by Tesla shall the Goods be allowed to be shipped for use in Tesla Products. Seller shall submit a mutually-agreed quantity of samples
of a standard production run of Goods to Tesla per a mutually-agreed Quality Plan. The responsibility for the cost and expense of such samples will be determined by the mutual agreement between the Parties.

 

	 	(b)	As part of the Quality Plan and during PPAP, (i) the Parties shall include [***] in the Specification for each Good as related to [***], and (ii) [***].

  

			
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	 	(c)	Seller shall also provide Tesla with the following: for any process change subsequent to the initial PPAP, Seller shall submit a Process Change Request (“PCR”) explaining the requested change and
providing a report summarizing Seller’s testing and validation processes for the requested change. Seller shall also submit to Tesla for evaluation a mutually-agreed quantity of samples of the Goods incorporating the PCR features, produced
on mass production equipment. The responsibility for the cost and expense of such samples will be determined by the mutual agreement between the Parties. Only after the PCR is submitted and approved by Tesla shall the Goods be allowed to
be shipped for use in Tesla Products.

  

	 	(d)	Seller agrees that the Goods shall conform to the Quality Requirements attached hereto as Exhibit 1. 

  

	5.9	[***]. If, with respect to Goods, Modules and/or Tesla Products, [***], Seller shall be liable for the [***]. Notwithstanding the foregoing, Seller shall not be liable under this paragraph to the extent that
[***]. Seller’s liability set forth in [***] and in no event shall Seller be liable for any lost goodwill, profit, revenue or savings in connection with [***]. To the extent permitted by applicable law, Tesla shall (a) notify
Seller promptly after becoming aware of [***] in connection with the [***], to the extent related to the Goods, (b) consult with Seller in good faith regarding such [***], and (c) provide such information as reasonably requested by Seller from
time to time with respect to the [***]. Seller shall not be responsible or liable for [***] if (A) the affected Goods were [***], as determined by the Agreed Tests; or (B) [***] was caused by [***]; or (C) [***] occurred more than [***] after
the delivery of such affected Goods to the Authorized Purchaser.

  

	5.10	Corrective Action. Seller will promptly notify Tesla in writing if Seller becomes aware of any ingredient, component, design or defect in the Goods that is or may become harmful to persons or property
or fails to meet the Specifications or other requirements of the Contract. Seller will promptly develop, document and implement corrective actions in accordance with all mutually-agreed quality control policies and standards, including by:
(a) promptly investigating and reporting on the root cause of the problem; (b) remedying the cause of the problem for future production and resuming performance in accordance with the Contract; (c) implementing and notifying Tesla of
measures taken by Seller to prevent recurrences if the problem is otherwise likely to recur; and (d) making written recommendations to Tesla for improvements in procedures. 

 

	6.	Representations and Warranties. 

  

	6.1	General. Each Party represents and warrants that it (and its Affiliates to the extent applicable): (a) will perform all of its obligations under these General Terms and the Contract in a professional and
workmanlike manner, consistent with industry standards and in accordance with all of the terms of these General Terms and the Contract; and (b) has the right and ability to enter into, perform the obligations under and agree to the covenants
contained in these General Terms and each Contract. Seller further represents that: (c) [***]. Tesla further represents that: (d) each obligation of any Tesla entity under a Contract is binding on all Tesla entities which are Parties to these
General Terms as if each such Tesla entity had agreed to the obligation.  

  

	6.2	Operations. Seller will: (a) if and to the extent relevant to the Contract and applicable to Seller, comply with all of the following: industry-standard and/or mutually-agreed supplier quality and
development process program requirements, quality control and safety standards, and procedures and inspection systems, including Exhibit 1, the Global Automotive Declarable Substance List (“GADSL”), and as applicable EU
Directives 2002/95/EC (Restriction on Hazardous Substances or “RoHS”) and 2006/66/EC (re: batteries and accumulators and waste batteries and accumulators), as each may be amended from time to time; (b) provide an accurate and
complete International Material Data System (“IMDS”) submission for each non-prototype Good; and (c) provide all information reasonably required for Tesla to comply with its legal obligations, such as the California
Transparency in Supply Chains Act of 2010 and (if and to the extent applicable to the Goods) Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (commonly referred to as the conflict minerals provision), as each may be
amended from time to time. Upon request by Tesla, Seller shall provide evidence of its compliance with each of the foregoing and as reasonably requested by Tesla for purposes of Tesla’s compliance with its legal obligations.

  

			
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	6.3	Compliance with Laws and Tesla Policies. 

  

	 	(a)	Each Party will, at its cost and expense, obtain all necessary regulatory approvals, licenses, and permits (collectively, “Permits”) applicable to its business and comply with all Laws applicable to its
business or the performance of its obligations under these General Terms and each Contract, as such Laws may be revised from time to time. Seller will provide Tesla with accurate material safety data sheets regarding the Goods and, if requested
by Tesla, submit to Tesla evidence of such compliance. Each Party will also provide the other Party with all information reasonably required in order for the other Party to comply with Laws applicable to it.

 

	 	(b)	To the extent not prohibited by Law, each Party will promptly notify the other Party in writing of any investigation or inquiry into whether such Party (or any of its subcontractors) is charged with failing to comply
with any Laws that may or will impact, or are otherwise applicable to, such Party’s performance under these General Terms and/or the Contract. 

  

	 	(c)	Seller will comply with any Tesla policies, standards, rules, and procedures (collectively, “Tesla Policies”) applicable to performance of Seller’s obligations under the Contract and/or to the
Factory which are disclosed to Seller in writing and approved by Seller, as such Tesla Policies may be revised from time to time subject to Seller’s approval, and Seller shall not unreasonably withhold, condition, or delay its approval for any
such Tesla Policy or any changes thereto.

  

	6.4	Debarment. During the Term, Seller represents and warrants that it shall not be: (i) debarred, suspended, excluded or disqualified from doing business with the United States Government; (ii) listed
on the Excluded Parties List System maintained by the General Services Administration of the United States Government (found at www.epls.gov); or (iii) a Person with which U.S. Persons are prohibited from transacting business of the type
contemplated by the Contract or with which U.S. Persons must limit their interactions to types approved by the US Department of Treasury, Office of Foreign Assets Control (“OFAC”), such as by Law, executive order, trade embargo or
restriction, economic sanction, or lists published by OFAC. Seller agrees to immediately notify Tesla in writing in the event Seller breaches any of the preceding representations and warranties or has reason to believe that it will become in
breach of any of the preceding representations and warranties. Such breach of any representation or warranty under this Section 6.4 shall be deemed a Default under the Contract for which Tesla may immediately terminate the Contract without
being required to provide notice or permit Seller to cure such Default. 

  

	7.	Indemnification. 

  

	7.1	Indemnification by Seller. Seller agrees to indemnify, defend and hold harmless Tesla, its Affiliates, and their respective directors, officers, employers and agents (collectively “Tesla
Indemnitees”) from and against any and all costs, fees, penalties, expenses, third-party damages, attorneys’ fees and all other liabilities to any third party whatsoever (“Losses”), arising out of any Claim against any
Tesla Indemnitee which arises from or relates to any actual or alleged: 

  

	 	(a)	except to the extent that the Claim pertains to Tesla Products and/or Modules, infringement of any Intellectual Property Right relating to Goods or any portion thereof, on its own or in combination with other goods or
services; 

  

	 	(b)	challenge to Tesla’s sole right, title and interest in the Factory, Goods or the Tesla Property, or right to possession of Tesla Property, in each case brought by any third party supplier to Seller or agent to
Seller, including toolmakers, subcontractors, and lending institutions; or 

  

			
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	 	(c)	Personal injury (including death) or property damage to the extent caused by a defect in design, workmanship and material (during or after the Warranty Period) and/or non-conformity (with reference to the applicable
Specifications within the Warranty Period) in one or more Goods; provided, however, that: 

  

	 	(i)	the foregoing obligation shall not apply to the extent that: (A) Tesla was aware of or, in the exercise of reasonable care, should have been aware of the existence of such defect and/or non-conformity; (B) the
Losses were caused by the Tesla Products, including but not limited to Tesla’s battery packs, Modules (including circuit and equipment matching issues), and their respective assembly, manufacture or placement, sale, use, operation, storage,
and/or transportation; and/or (C) the Losses were caused by [***] if (x) the affected Goods were part of [***]; or (y) such [***] was caused by [***]; or (z) such [***] occurred more than [***] years after the delivery of such affected Goods to
the Authorized Purchaser; and 

  

	 	(ii)	to the extent permitted by Law, the liabilities of Seller pursuant to this Section 7.1(c) will not [***] (the [***]), and the Tesla Indemnitees shall not be indemnified or held harmless in connection with such Losses
[***]. 

  

	7.2	Indemnification by Tesla. Tesla agrees to indemnify, defend and hold harmless Seller, its Affiliates, and their respective directors, officers, employers and agents (collectively “Seller
Indemnitees”) from and against any and all Losses arising out of any Claim against any Seller Indemnitee which arises from or relates to any actual or alleged: 

 

	 	(a)	infringement of any Intellectual Property Right to the extent caused by Tesla Products and/or Modules in which the Goods are used; 

  

	 	(b)	challenge to Seller’s sole right, title and interest in materials, work-in-process, Goods or Seller Property, or right to possession of Seller Property, in each case brought by any third party supplier to Tesla or
agent to Tesla, including toolmakers, subcontractors, and lending institutions; or 

  

	 	(c)	Either (i) defects or quality issues with respect to Tesla Products, including but not limited to Tesla’s battery packs and Modules, (including circuit and equipment matching issues) and their respective
assembly, manufacture or placement, sale, use, operation, storage, and/or transportation, or (ii) [***] if (A) the affected Goods were [***]; or (B) such [***] is caused by [***]; or (C) such [***] occurred more than [***] years after the
delivery of such affected Goods to the Authorized Purchaser; provided, however, that: (A) the foregoing obligation shall not apply to the extent that the Losses were caused by [***]; and (B) to the maximum extent permitted by Law, the
liabilities of Tesla pursuant to this Section 7.2(c) will not [***] (the [***]), and the Seller Indemnitees shall not be indemnified or held harmless in connection with such Losses [***].

 

	7.3	Procedure. The Party seeking indemnification by the other Party under this Section 7 (the “Indemnified Party”) will give prompt written notice of the Claim for which indemnification is
sought. Failure to give notice will not diminish the indemnifying Party’s obligation under this Section if it has or receives knowledge of the existence of the Claim by any other means or if the failure does not materially prejudice its
ability to defend the Claim. The indemnifying Party may select legal counsel to represent the indemnified Party (said counsel to be reasonably satisfactory to the indemnified Party) and otherwise control the defense and, subject to the other
terms of this Section 7.3, resolution of the Claim. If the indemnifying Party elects to control the defense of such Claim, the indemnified Party may at its option participate in the defense of any Claim with its own counsel at its own expense;
provided that such indemnified Party shall not resolve the Claim without the prior written consent of the indemnifying Party. If the Claim is one that cannot by its nature be defended solely by the indemnifying Party, then the indemnified Party
will make available information and assistance as the indemnifying Party may reasonably request, at the indemnifying Party’s expense. The indemnifying Party may not, without the prior written consent of the indemnified Party, (i) consent
to the entry of any judgment or enter into any settlement that provides for injunctive or other non-monetary relief affecting any indemnified Party, or (ii) consent to the entry of any judgment or enter into any settlement unless such judgment
or settlement provides for an unconditional and full release of the indemnified Party and does not diminish any of such Party’s rights under these General Terms and/or the Contract or result in additional fees or charges to the indemnified
Party. The indemnified Party may not make any party admissions in respect of a Claim if the indemnifying Party elects to control the defense of the Claim. For avoidance of doubt, the indemnifying Party may invoke any applicable statutes of
limitations in conducting the defense of any such Claim.  

  

			
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	7.4	Limitations. To the maximum extent permitted by applicable law and subject to [***] (as applicable), the Parties’ respective obligations under this Section 7 will apply even if an Indemnified
Party’s conduct has contributed to the Losses, but the obligation to indemnify will not apply to the extent that Losses were caused by such Indemnified Party. Each Party’s obligation to defend and indemnify under this Section 7 will
also apply regardless of whether the Claim arises in tort, negligence, contract, warranty, strict liability or otherwise.

  

	7.5	Infringement Claims. If any Goods become, or in Seller’s reasonable opinion is likely to become, the subject of an infringement or misappropriation Claim, Seller will promptly notify Tesla (the
“Infringement Notice”) and, at Seller’s expense and in addition to indemnifying Tesla Indemnitees as provided in this Section 7 (Indemnification) and to the other rights Tesla may have under these General Terms:
(a) promptly secure the right to continue manufacturing and selling the Goods; or (b) if this cannot be accomplished with Commercially Reasonable Efforts, then replace or modify the Goods to make it non-infringing or without
misappropriation; provided, however, that any such replacement or modification may not degrade the performance or quality of the Goods or disrupt Tesla’s business operations; or (c) if neither of the foregoing can be accomplished by Seller
with Commercially Reasonable Efforts, then, no earlier than [***] after the date of Seller’s Infringement Notice, [***]. During the foregoing [***] period of time and unless prohibited by Law, Seller shall not suspend delivery of Goods in
accordance with the Production Plan and Seller shall not [***] as the direct result of such infringement or misappropriation Claim. If Seller chooses to stop selling Goods to Tesla pursuant to this Section (but not if Seller is prohibited by
Law from selling such Goods), Seller will be deemed to be in Default and Tesla may exercise its termination and other rights and remedies. 

  

	8.	Confidentiality. Tesla’s mutual non-disclosure agreement as of the Effective Date or, if applicable, the signed non-disclosure agreement then in effect between the Parties
(“NDA”) sets forth the Parties’ respective confidentiality obligations hereunder. The NDA is hereby incorporated by reference in these General Terms and the Contract, and the terms and conditions of the NDA will continue
in force throughout the Term and thereafter during the Confidentiality Period (as defined in the NDA).

  

	9.	Property. 

  

	9.1	Property. The tooling, jigs, dies, gauges, fixtures, molds, patterns, other equipment (collectively, the “Tooling”), as well as the supplies, materials, and other tangible property that
are or will be used by Seller to manufacture, store, and transport Goods, or used to develop or make Goods for Tesla (such Tooling, supplies, materials and other tangible property shall collectively be referred to as the “Property”)
will be owned by Tesla if Tesla has [***] (“Tesla Property”); provided, however, that Property will not be deemed to be Tesla Property if Tesla has [***]. “Seller’s Property” means all
Property which (a) is owned and/or used by Seller in connection with these General Terms and/or the Contract(s) and (b) is not Tesla Property. Seller will not purchase on the account of or charge Tesla for any Tesla Property except as
authorized in a Purchase Order. Title to Tesla Property shall transfer to Tesla upon Tesla’s payment in full for such Property. 

  

	 	(a)	Seller will assign to Tesla contract rights or claims in which Seller has an interest with respect to Tesla Property and execute bills of sale, financing statements, or other documents requested by Tesla or required to
evidence Tesla’s ownership of Tesla Property. 

  

	 	(b)	Seller will have no interest in Tesla Property paid for by Tesla except as an at-will bailee. To the extent permitted by law, Seller waives any lien or similar right it may have with respect to Tesla
Property. Tesla is responsible for personal property taxes assessed against Tesla Property. 

  

	9.2	 Operations and Maintenance. Seller will: (a) subject to Section 1.1(b) above, [***] procure,
transport, install and configure at the Factory the Seller’s Property by the Parties’ agreed target date (e.g., as required for [***]); (b) subject to Section 1.1(b) above and [***], procure, transport, install and configure at the
Factory additional Seller’s Property as reasonably required to deliver Goods in accordance with the 

  

			
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	 	Contract and the Production Plan; (c) [***] maintain all Seller’s Property used by Seller in good condition and repair, normal wear and tear excepted; (d) furnish, maintain in good condition, replace and
improve all Seller’s Property reasonably required to deliver Goods in accordance with the Contract and the Production Plan; (e) use Tesla Property only for the manufacture, storage, and transport of Goods for Tesla unless Tesla otherwise
approves in writing; and (f) at Tesla’s request and expense, mark Tesla Property as belonging to Tesla. Further, (g) Seller will not remove, sell, or dispose of any Seller’s Property from the Factory without Tesla’s prior
written consent if and to the extent that such Property is reasonably required to manufacture and deliver Goods in accordance with the Contract and/or Production Plan and Tesla shall not unreasonably withhold, condition or delay such consent if and
to the extent that such Property is not reasonably required for such purposes; (h) all replacement parts, additions, improvements, and accessories to Tesla Tooling will become part of Tesla Tooling; and (i) Tesla will, at its expense, be responsible
for procuring, maintaining in good condition, replacing and improving all Tesla Property which Tesla is expressly required to provide hereunder as a Tesla Responsibility, if any, in order to enable Seller to perform its obligations under the
Contract and the Production Plan. 

  

	9.3	Tesla’s Rights of Possession, Equitable Relief. Tesla has the right to the sole, unencumbered, unqualified, and absolute possession of Tesla Property at any time, as elected by Tesla and Seller will
immediately release to Tesla upon request, and Tesla may retake immediate possession of Tesla Property at any time with or without cause and without payment of any kind unless otherwise provided in the Contract. Tesla will be responsible for
transportation costs with respect to Tesla Property.

  

	9.4	Waiver of Liens. As a continuing condition of Seller’s possession or use of Tesla Property, Seller shall ensure that no third party obtains any lien or other right in Tesla Property and hereby waives
and relinquishes, and agrees to obtain from any third parties who might claim any such lien (including without limitation mechanic’s liens) or right, their written waiver and relinquishment of all rights, if any, to any lien or other right of
retention whatsoever with respect to Tesla Property.

  

	10.	Intellectual Property. 

  

	10.1	Covenant Not to Sue. Seller and its Affiliates covenant not to bring, assist others in bringing, or otherwise assert against Tesla and/or its Affiliates, and their respective successors and assigns, any
claim for infringement of any of Seller’s and/or any of its Affiliates’ Intellectual Property Right incorporated in the Goods arising from any of the following: [***]. For the avoidance of doubt, the foregoing covenant extends to
any application of one or more Goods if, at the time of sale of one or more Good(s) to Tesla, (a) Seller knows that Tesla and/or its Affiliates plans to use such Good(s) in such application or (b) the application by Tesla and/or its Affiliates is
publicly available and/or disclosed. 

  

	10.2	Independent Efforts and Similar Goods. Provided there is no infringement of the other Party’s Intellectual Property Rights, nothing in these General Terms or the Contract will impair either Party’s
right to develop, manufacture, purchase, use, sell or market, directly or indirectly, alone or with others, products or services competitive with those offered by the other Party. 

 

	10.3	No Implied Rights. Except for the rights expressly transferred in these General Terms or the Contract, nothing therein will operate to transfer any interest in Intellectual Property Rights by implication,
estoppel or otherwise. 

  

	11.	Factory Colocation. 

  

	11.1	Factory Lease.

  

	 	(a)	 Tesla shall, at its cost and expense and as a Tesla Responsibility, procure the land and construct buildings
thereon to be used as the Factory. Upon completion of construction of the Factory, the Parties shall negotiate in good faith, finalize and sign a lease setting forth the terms and conditions of Seller’s lease rights at the Factory (the
“Factory Lease”). The Factory Lease shall: (i) provide that Tesla will provide Seller with the sufficient space and utilities for Seller to enable to perform its obligations under these General Terms and the Contract(s);
(ii) specify [***] pursuant to the Pricing Agreement; (iii) [***]; (iv) specify that [***], unless otherwise provided in this General Terms; and 

  

			
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	 	(v) describe the area(s) leased to Seller to be used for Seller’s manufacturing of Goods at the Factory; (vi) define each Party’s financial and other responsibilities for utilities (e.g. gas,
electric, water and treatment of waste water); (vii) specify that the Factory Lease will be subject to any restrictions generally applicable to the Factory and/or Tesla’s real property; and (viii) allocate responsibility between the
Parties for environmental aspects of the Utilities (defined below); and (ix) include terms and conditions consistent with those set forth in this Section 11 and in the Pricing Agreement. The Parties shall negotiate the Factory Lease in
good faith and, should no Factory Lease be entered into between the Parties by [***] (the “Lease Target Date”), Seller may terminate these General Terms and the remaining portion(s) of any Contract without any liability whatsoever
to Tesla. The Parties may extend the Lease Target Date by mutual written agreement. The Factory Lease shall, upon execution by the Parties, be incorporated into these General Terms and immediately supersede and replace this Section 11.1 in
its entirety without any further action of the Parties. 

  

	 	(b)	Tesla will, at its cost and expense and as a Tesla Responsibility, install, configure, maintain in good working order, and furnish the utilities required for Seller to perform its obligations under these General Terms
and the Contract(s) and as agreed between the Parties (collectively, the “Utilities”), including gas, electric, water, and treatment of waste water.

 

	 	(c)	The Parties shall discuss in good faith and sign a mutually-agreed matrix to describe each Party’s responsibility for various construction and/or operational activities at the Factory. The Parties shall also
discuss in good faith the general configuration of Seller’s leased area(s) at the Factory to enable its performance under the Contract and Production Plan. Tesla must approve permanent fixtures and improvements in advance. Tesla and
Sanyo will work together to obtain necessary permits relating to Seller’s leased area(s) at the Factory. 

  

	 	(d)	Tesla will provide to Seller Personnel assigned to work at the Factory the reasonable use thereof. Seller will use the Factory for the sole purpose of performing its obligations under these General Terms or the
Contract. Seller will be responsible for any damage to the Factory caused by Seller Personnel normal wear and tear excepted.

  

	 	(e)	Seller will permit Tesla and its agents and representatives to enter the area(s) leased to Seller if reasonably required for: (A) an emergency at any time; (B) a law enforcement or government inspection at any time;
(C) Tesla personnel upon an agreed amount of notice, if and to the extent related to employee health & safety (EHS), security, audit (e.g., PPAP) or as separately approved by Seller in good faith; or (D) maintenance or repair of Tesla
Property used by or for Seller. 

  

	 	(f)	If Tesla sells, transfers, assigns or otherwise disposes of the land and buildings covered by the Factory Lease and/or the Utilities to its Affiliates or a third party, any such sale, transfer, assignment or disposal
shall be subject to any and all of Seller’s rights under the Factory Lease. Tesla shall not, during the term of Factory Lease, lease the Seller space covered by the Factory Lease to Tesla’s Affiliates or any other third party without
Seller’s prior written consent. 

  

	11.2	Seller Personnel.  

  

	 	(a)	Responsibility for Seller Personnel. Seller will manage, supervise and provide direction to Seller Personnel and cause them to comply with the obligations and restrictions applicable to Seller under these
General Terms and/or Contract. Each Party is responsible for the acts and omissions of its own personnel under or relating to these General Terms and/or the Contract. Seller is responsible for validating the identity of and ensuring that
Seller Personnel assigned to perform work hereunder (i) have the legal right to work in the country(ies) in which they are assigned to work, and (ii) conform to all reasonable and applicable Tesla Policies disclosed to Seller and approved
by Seller (such approval not to be unreasonably withheld, conditioned or delayed) with respect to personal and professional conduct at the Factory (including adherence to general safety, behavior, and security practices). From time to time, the
Parties may also, in conjunction with the Production Meeting, consult in good faith regarding staffing requirements for Seller Personnel at the Factory. 

  

			
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	 	(b)	Background Checks. Prior to assigning any Seller Personnel to work at the Factory, Seller shall perform a background check of each person or, in the case of employees or agents of a subcontractor, Seller
shall cause the subcontractor to conduct such a background check. Such background checks may have been performed as part of Seller’s standard pre-employment screening process and will include the following, at a minimum but only to the
extent permitted by applicable Law: (i) social security verification (for US employees); and (ii) felony and misdemeanor criminal checks. To the extent permitted by applicable Law, Tesla may require Seller to provide written evidence
of the background checks on Seller Personnel at any time. Unless prohibited by Law, neither Party may assign any person to perform work at the Factory who was convicted of any criminal offense involving dishonesty, a breach of trust, money
laundering, or who has been convicted of a felony crime within the last seven years without the other Party’s prior written consent. 

  

	11.3	Extension of Lease. Following expiration or termination of these General Terms, Seller shall be entitled to extend the duration of the Factory Lease as follows: 

 

	 	(a)	If Tesla terminates for Seller’s Default, Seller may continue its lease rights for [***]. Seller shall [***] and Seller shall [***].

 

	 	(b)	If these General Terms expire or in the event of a termination for force majeure by either Party or termination for a Change of Control Event affecting the other Party, Seller may continue its lease rights for
[***]. Seller shall [***] and the Parties shall negotiate in good faith a potential extension of the Factory Lease. In case of termination for force majeure or Change of Control by either Party, Tesla shall be responsible for [***];
provided, however, that Tesla will have sole financial responsibility with respect to any Tesla-Supplied Items and/or Utilities which were installed by Tesla (including the construction activities for which Tesla is solely responsible pursuant to
the mutually-agreed matrix described in Section 11.1(c)). The Parties shall also, in connection with any such expiration or termination, discuss in good faith [***]. In the case of expiration (but not termination for force majeure or for
Change of Control), Tesla acknowledges that it will be responsible for [***] provided that (i) Seller has used best efforts to [***], (ii) the [***] are mutually agreed in writing and in advance; provided, however, that such Tesla’s
approval shall not be unreasonably withheld, delayed or conditioned, and (iii) Tesla shall not be responsible for any such [***]. Tesla will provide an estimated cost or profit for [***], and Seller will determine whether to
[***]. Seller shall have financial responsibility for [***] if it chooses to [***]; provided, however, that Tesla shall pay Seller [***]. If Seller chooses to [***], Seller shall not be obligated to [***]. If Seller chooses to [***],
Tesla shall bear [***], and if [***], Tesla will [***]. If Seller fails to [***], Seller will be deemed to have [***] and Tesla will [***] in its sole discretion and at Tesla’s sole expense or profit. For avoidance of doubt, Seller
shall have no liability for Tesla’s failure to [***] in connection with any such [***]. In no event shall Tesla sell, lease, assign or otherwise transfer such Seller’s Property to any third party other than for [***]. Except as
set forth in this paragraph, each Party shall be responsible for its own costs and expenses related to such expiration or termination. 

  

	 	(c)	If Seller terminates for Tesla’s Default, Seller may: (i) elect to continue its lease rights for [***] without [***] and Seller may [***] and, if applicable, [***]; and (ii) [***] the following [***], which will be
considered [***] for purposes of Section 12.1(f) to these General Terms: [***]. 

  

	 	(d)	If Seller terminates these General Terms and the Contract(s) due to a Change of Control Event with respect to Tesla, Seller may, in its sole discretion and in addition to the remedies contemplated in Section 11.3(b),
choose to continue its lease rights for [***].

  

	12.	Liability. 

  

	12.1	Limitations of Liability and Exclusions.

  

	 	(a)	Except as provided in Section 12.1(e), Tesla’s liability to Seller under these General Terms and all Contracts (including termination, expiration or cancellation) shall not exceed the following: 

 

	 	(i)	with respect to each investment by or for Seller in Seller’s Property as contemplated in Section 1.1(b) above and in the then-current Pricing Agreement, the agreed amount(s) due and payable therefor pursuant to
these General Terms and the then-current Pricing Agreement; 

  

			
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	 	(ii)	with respect to Goods or other items delivered by Seller pursuant to a Contract, [***] in accordance with the applicable Contract; 

  

	 	(iii)	with respect to amounts for which Tesla is expressly responsible pursuant to these General Terms – including Sections 2.4 (Tesla Responsibilities), 11.3 (Extension of Lease), and 13.4 (Obligations Upon Termination)
if and to the extent applicable – and/or other relevant agreements between the Parties in connection with these General Terms (e.g., Factory Lease) if and to the extent applicable, the amounts due and payable therefor; 

 

	 	(iv)	with respect to Claims which are [***],[***]; and 

  

	 	(v)	for other damages which are recoverable pursuant to these General Terms and/or a Contract due to one or more events giving rise to liability in a rolling period of [***],[***].

 

	 	(b)	Except as provided in Section 12.1(e), Seller’s total liability to Tesla under these General Terms and/or any Contract shall not exceed the following: (i) for Claims which are [***],[***]; and (ii) for one or more
events giving rise to liability in a rolling period of [***],[***] the following (“Seller’s General Cap”): (A) [***], or (B) [***]. 

 

	 	(c)	Except as provided in Section 12.1(e) and notwithstanding anything to the contrary in Sections 12.1(a) or 12.1(b) above, each Party shall be liable if it [***]; provided, however, that such liability shall not exceed
[***]. 

  

	 	(d)	Except as provided in Section 12.1(e) and to the extent permitted by applicable law, neither Party will be liable to the other Party for any anticipated profits, loss of revenue or savings, loss of goodwill,
depreciation cost due to reduced production capacity, cost of capital, production downtime costs, interest, penalties or incidental, special, indirect, consequential, punitive, multiple, or exemplary damages or liabilities in connection with these
General Terms and/or any Contract, whether for breach of contract, late payment, property damage, personal injury, illness, or death or otherwise, even if such Party was advised or was aware of the possibility of such damages or
liabilities.

  

	 	(e)	The limitations and exclusions of liability set forth in Sections 12.1(a), 12.1(b), 12.1(c) and 12.1(d) will not apply with respect to damages attributable to: (i) a Party’s intentional torts, unlawful conduct,
willful misconduct, or gross negligence; or (ii) Losses related to Claims that are [***]. Further, the exclusions of liability set forth in Section 12.1(d) will not apply with respect to damages attributable to: (iii) Losses related to Claims
that are [***]. 

  

	 	(f)	The Parties acknowledge and agree that the following will be considered direct damages and that neither Party will assert that they are types of damages that are excluded under Section 12.1(d) to the extent they result
from the failure of a Party (or entities or persons for whom a Party is responsible) to perform in accordance with these General Terms and/or the Contract: 

  

	 	(i)	costs and expenses for which a Party is expressly responsible under these General Terms or a Contract, including costs and expenses related to [***] and Tesla’s obligations to pay [***] paid by Seller [***];

  

	 	(ii)	the actual and reasonable damages, losses, costs and expenses incurred by Tesla as a direct result of Seller’s Default pursuant to Section 3.3 (Time is of the Essence); 

 

	 	(iii)	actual and reasonable damages, losses, costs and expenses incurred by Tesla as contemplated in Section 5.9 [***]; 

  

	 	(iv)	payments, fines, penalties or interest imposed by a governmental body or regulatory entity, to the extent caused by the other Party, the other Party’s Affiliates, or their respective agents and subcontractors;

  

			
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	 	(v)	actual and reasonable damages, losses, costs and expenses as a direct result of Seller’s failure to comply with its obligations under [***], but only to the extent that [***]; 

 

	 	(vi)	amounts for which a Party is expressly responsible pursuant to these General Terms (including Sections 2.4 (Tesla Responsibilities), 11.3 (Extension of Lease), and 13.4 (Obligations Upon Termination)), the then-current
Pricing Agreement, and/or each Contract; 

  

	 	(vii)	damages in tort attributable to the “simple” or “ordinary” negligence of a Party, its employees and/or agents in a manner related to these General Terms, a Contract and/or the Factory;

  

	 	(viii)	actual and reasonable costs and expenses to [***], to the extent caused by the other Party, its employees and/or agents or, if [***] using Commercially Reasonable Efforts, damages in an amount equal to [***];

  

	 	(ix)	actual and reasonable damages for personal injury, illness and/or death with respect to a Party’s employees or agents to the extent caused by the other Party’s failure to maintain adequate health and safety
conditions at the Factory; and 

  

	 	(x)	actual and reasonable damages and liability incurred by a Party with respect to environmental conditions or issues (including actual and reasonable costs of remediation, if applicable), either (A) to the extent
caused by the other Party and/or (B) to the extent such conditions or issues are the legal responsibility of the other Party. 

  

	 	(g)	Each Party shall use Commercially Reasonable Efforts to mitigate the damages incurred in connection with any breach by the other Party. 

 

	 	(h)	Subject to Sections 5.4(f) and 5.9 and subject to the limitations and exclusions set forth in this Section 12.1, all remedies provided in these General Terms and/or the Contract are cumulative and in addition to and not
in lieu of any other remedies available to a Party under these General Terms and/or the Contract, at law, or in equity. 

  

	12.2	Force Majeure. “Force Majeure Event” means an event beyond the reasonable control of a Party that delays or prevents the Party from performing its obligations under these General Terms
and/or the Contract, provided that (a) the non-performing Party is without fault in causing or failing to prevent the event, and (b) the event cannot be circumvented through the use of commercially reasonable alternative sources, workaround plans or
other means. The affected Party will promptly notify the other Party of any Force Majeure Event and of its plans and efforts to implement a work-around, in which case the affected Party will be excused from further performance of the affected
obligations as long as the Force Majeure Event continues. The affected Party will continue to use Commercially Reasonable Efforts to perform to the extent possible and will comply with any applicable and agreed disaster recovery
obligations. The affected Party will notify the other Party promptly when the Force Majeure Event has abated. If a Force Majeure Event prevents performance for more than [***], then the unaffected Party may terminate these General Terms
and the Contract(s) as of a date specified by such Party in a written notice of termination to the affected Party, in which case (i) Tesla will pay Seller’s charges for Goods delivered in accordance with [***], but (ii) Tesla will not be
liable for any costs pertaining to [***] and (iii) neither Party will be liable to the other Party for payment of [***], except as may be expressly permitted under Section 11.3(b). If a Force Majeure Event prevents performance by Seller and
results in a backlog of unfulfilled orders for Goods, Seller shall, as directed by Tesla, [***] within the [***] period. 

  

	13.	Term and Termination. 

  

	13.1	Initial Term and Renewal. These General Terms will be effective as of the Effective Date and continue through the date that occurs ten (10) years after Seller achieves Start of Production at the
Factory (the “Term”). Beginning five (5) years after the Start of Production and at least once per year during the Term, the Parties will discuss in good faith the possibility of extending the Term. The “Start of
Production” will be deemed to occur on the first day of the month following the month in which Seller delivers battery cells manufactured at the Factory [***].

  

			
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	13.2	Termination, Generally. These General Terms and the Contract may only be terminated as provided in this Section 13 (Term and Termination). Termination by a Party will be without prejudice to any
other rights and remedies available to a Party. Neither Party will be obliged to pay any termination charges or demobilization fees to the other Party in connection with any termination, except as may be expressly set forth in these General
Terms and/or the applicable Contract. 

  

	13.3	Termination. Subject to Sections 2.4 (Tesla Responsibilities) of these General Terms, the Party who is not in Default may terminate these General Terms and/or the Contract as follows: (a) if the
other Party breaches a material obligation under these General Terms and/or the Contract and fails to cure the breach within [***] days after receipt of notice of such breach expressly stating the non-breaching Party’s intent to terminate
(“Notice of Termination”) or, if the breach cannot reasonably be cured within such [***] period, [***] days after receipt of Notice of Termination; (b) if the other Party becomes a debtor in a bankruptcy, insolvency,
receivership, or similar proceeding commenced by a third party that is not dismissed within a reasonable time after commencement; or (c) immediately upon Notice of Termination in the event of an incurable material breach, including (i) a
Party’s repudiation of these General Terms and/or the Contract, (ii) in case of Section 6.4 (Debarment), or (iii) if the other Party makes an assignment for the benefit of creditors in violation of these General Terms and/or the Contract
or voluntarily institutes proceedings in bankruptcy or insolvency. Each of the foregoing types of breach shall be deemed to be a “Default.” The Parties may also terminate: (d) as provided in Section 12.2 (Force
Majeure); or (e) for convenience (i.e. without cause) upon prior written notice to the other Party if such other Party experiences a Change of Control Event, but only if both: (i) the Change of Control Event will, or is reasonably likely to,
materially and adversely affect the terminating Party’s interests pertinent to these General Terms and the Contract(s), and (ii) the terminating Party terminates within [***] after such Change of Control Event. The Party that issues the
Notice of Termination may approve a longer cure period in its sole discretion.  

  

	13.4	Obligations Upon Termination. Following any termination pursuant to Section 13.3 above and in addition to any actions or payments expressly required by these General Terms and/or the applicable Contract:

  

	 	(a)	Seller shall: 

  

	 	(i)	immediately cease all work under the Contract, unless and to the extent that Tesla requests that Seller complete the manufacture of Goods using materials and components which were previously acquired by Seller within
the applicable Lead Time to meet its obligations under the affected Contract(s) and which Seller cannot, using Commercially Reasonable Efforts, [***] in a manner that results in [***] with respect to such materials and components; 

 

	 	(ii)	transfer title and deliver to Tesla all finished Goods completed prior to the termination date, provided that Seller may in its sole but reasonable discretion change the payment terms for such Goods if Seller has
terminated for Tesla’s Default; 

  

	 	(iii)	without limiting Seller’s right to damages for Tesla’s Default, [***]; 

  

	 	(iv)	cooperate with Tesla in minimizing costs and losses related to the termination (including, without limitation, by returning the materials for a refund or credit or otherwise using or selling to any of Seller’s
other customers); 

  

	 	(v)	upon termination of the Factory Lease, comply with the obligations described in the Factory Lease and in Section 11.3 above with respect to [***]; and 

 

	 	(vi)	in case of Tesla’s termination for Seller’s Default and if requested by Tesla, but subject to Seller’s actual capacity, labor constraints and supply chain constraints, issue a final Purchase Order for a
quantity of Goods at volumes not in excess of [***] of purchases by Tesla over the [***] preceding termination and on the [***], and Seller shall not reject such Purchase Order.

  

			
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	 	(b)	Tesla will, after exercising any setoff rights permitted by Law, pay to Seller the following amounts, without duplication and in accordance with the then-current payment terms between Tesla and Seller:

  

	 	(i)	The purchase price for all conforming Goods received by Tesla prior to the termination date or delivered following the termination date pursuant to this Section 13.4; 

 

	 	(ii)	[***], unless Tesla has terminated for either (A) Seller’s Default or (B) a Change of Control Event with respect to Seller; and 

 

	 	(iii)	[***] paid by Seller for [***] at the Factory for which [***]; provided, however, that Tesla shall not have any obligation to [***] such amounts if Tesla terminates (A) for Seller’s Default, (B) as permitted under
Section 12.2 (Force Majeure), or (C) for a Change of Control Event with respect to Seller; and 

  

	 	(iv)	Any costs and/or expenses that Tesla is obligated to pay pursuant to Section 11.3 (Extension of Lease). 

  

	 	(c)	Notwithstanding any other provisions herein to the contrary but subject to Section 12 (Liability), in case of a Party’s termination due to Change of Control with respect to the other Party, the Party exercising
such termination right shall be entitled to recover a termination charge equal to the following: (i) in [***] of the Term, one billion, five hundred million dollars ($1.5 billion USD); (ii) in [***] of the Term, one billion dollars ($1.0
billion USD); and (iii) thereafter during the Term, five hundred million dollars ($500 million USD). 

  

	14.	Insurance. During the Term of these General Terms, Seller shall obtain and maintain at its own cost and expense (and shall cause each subcontractor to maintain) policies for the types and
amounts of insurance that are required under applicable Law. 

  

	15.	Dispute Resolution.  

  

	15.1	Governing Law. These General Terms and each Contract will be interpreted and construed in accordance with the substantive Laws of California and the United States generally applicable therein, without regard
to any provisions of its choice of law rules that would result in a different outcome. The UN Convention on Contracts for the International Sale of Goods will not apply to the Contract.

 

	15.2	Informal Dispute Resolution. In the event any disputes, differences or controversies arise between the Parties, out of or in relation to or in connection with the provisions of these General Terms and/or the
Contract, the Parties shall thoroughly explore all possibilities for an amicable settlement.

  

	15.3	 Arbitration. Any dispute arising out of or relating to these General Terms and/or a Contract
that is not resolved through negotiation shall be settled exclusively by final and binding arbitration conducted in accordance with the then-current Commercial Arbitration Rules of the Judicial Arbitration and Mediation Services/Endispute
(“JAMS”). The existence, content and result of the arbitration shall be held in confidence by the Parties, their representatives, any other participants, and the arbitrator. The arbitration will be conducted by a single
arbitrator selected by agreement of the Parties or, failing such agreement, appointed in accordance with the JAMS rules. The arbitrator shall be experienced in agreements for capital equipment. Any demand for arbitration and any
counterclaim will specify in reasonable detail the facts and legal grounds forming the basis for the claimant’s request for relief and will include a statement of the total amount of damages claimed, if any, and any other remedy sought by the
claimant. The arbitration will be conducted in the English language in San Francisco, California. Each Party will bear its own expenses in the arbitration and will share equally the costs of the arbitration; provided, however, that the
arbitrator may, in their discretion, award reasonable costs and fees to the prevailing Party. The arbitrator will have full power and authority to determine issues of arbitrability and to interpret or construe the applicable provisions of the
Contract and/or these General Terms and to fashion appropriate remedies for breaches of the Contract and/or these General Terms (including interim or permanent injunctive relief); provided that the arbitrator will not have any right or authority:
(i) in excess of the authority of a court having jurisdiction over the Parties and the dispute would have absent this arbitration agreement; (ii) to 

  

			
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	 	award damages in excess of the types and limitation of damages found in the Contract and/or these General Terms; or (iii) to modify the terms of either the Contract or these General Terms. The award of the
arbitrator will be issued within thirty (30) days of the completion of the hearing, shall be in writing, and shall state the reasoning on which the award is based. Judgment upon the award rendered in the arbitration may be entered in any court
of competent jurisdiction. Each Party will have the right to apply at any time to a judicial authority for appropriate injunctive relief (or other interim or conservatory measures), and by doing so will not be deemed to have breached its
agreement to arbitrate or to have impaired the powers reserved to the arbitrator. The Parties further consent to the jurisdiction of any state or federal court with subject matter jurisdiction located within a district that encompasses assets
of a Party against whom a judgment (or award) has been rendered for the enforcement of the judgment (or award) against the assets of such Party. 

  

	15.4	Continued Performance. Each Party agrees to continue performing its obligations under these General Terms and each Contract while a dispute is being resolved unless and until such obligations are terminated
by the termination or expiration thereof. 

  

	16.	Miscellaneous. 

  

	16.1	Notices. All formal notices, requests, demands, approvals and communications under these General Terms and/or the Contract (other than routine operational communications) (collectively,
“Notices”) will be in writing and may be served either (a) in person or (b) by registered or certified mail with proof of delivery, addressed to the Party at the addresses set forth below. Notices given as described
in the preceding sentence will be considered received on the day of actual delivery. A Party may change its address or designee for notification purposes by giving the other Party prior written notice of the new address or designee in the
manner provided above. The Parties may mutually agree that certain types of routine approvals and notices of a non-legal nature may be given by electronic mail. 

 

			
	In the case of Tesla:	 	With a copy to:
		
	Tesla Motors, Inc.	 	Tesla Motors, Inc.
	3500 Deer Creek Road, Palo Alto, CA 94304	 	3500 Deer Creek Road, Palo Alto, CA 94304
	Attn: Director, Battery Technology	 	Attn: Legal Department
		
	In the case of Seller:	 	With a copy to:
		
	SANYO Electric Co., Ltd.	 	Panasonic Corporation
	Portable Rechargeable Battery Business Division	 	Automotive & Industrial Systems Company
	222-1, Kaminaizen, Sumoto City, Hyogo	 	1006 Kadoma, Kadoma City, Osaka
	656-8555, Japan	 	571-8506, Japan
		
	Attn: Associate Director, Global Sales & Marketing	 	Attn: Legal Center, Business Promotion Group

  

	16.2	Audit and Inspection. Tesla and its authorized representatives shall have the right with reasonable prior written notice from time to time to access Seller’s leased areas approved by Seller (such
approval will not be unreasonably withheld by Seller) and, subject to the NDA, verify Seller’s compliance with the terms of these General Terms and the Contract. Seller will maintain records as reasonably necessary to demonstrate
Seller’s compliance with the terms of these General Terms, the Production Pricing Agreement, and the Contract, including showing that amounts charged to Tesla are true and correct. Such audit will be made at the agreed date and the normal
business hour of Seller at the Factory. Tesla and its representatives may audit Seller’s records made within [***] prior to the audit date, to the extent needed to verify compliance with these General Terms, the Production Pricing
Agreement, and the Contract, and Seller will make such records available to Tesla and its auditors for examination and copying upon their reasonable request; provided that Seller is not obliged to make available any technical or engineering
confidential records, data and/or information owned or controlled by Seller without the prior written agreement between the Parties. Any audit will be conducted at Tesla’s expense. Notwithstanding the foregoing and unless approved
otherwise by Seller, any audit of Seller’s compliance with [***] shall be conducted solely by an authorized third-party representative of Tesla which is bound not to disclose to Tesla the specific [***]. 

  

			
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	16.3	Entire Agreement. These General Terms and each Contract constitute the entire agreement between the Parties with respect to its subject matter, and supersedes all prior oral or written representations
or agreements by the Parties with respect to the subject matter of these General Terms and the Contract. Except as authorized in Section 2.2, no subsequent terms, conditions, understandings, or agreements purporting to modify the terms of
these General Terms or the Contract will be binding unless in writing and signed by Tesla and Seller. 

  

	16.4	Assignment and Subcontracting.

  

	 	(a)	Without prior written consent of the other Party, neither Party may assign these General Terms or any Contract or subcontract or delegate the performance of its duties thereunder, and any attempt to do so shall be void;
provided, however, that (i) each Party may, without requiring the other Party’s consent or meeting any other condition, add an Affiliate which operates in the Factory as a co-party to these General Terms and/or any Contract, and (ii) Tesla may,
upon the written notice to Seller, assign any or all of its rights, benefits or remedies under any Contract to an Affiliate which assumes all of Tesla’s obligations under the Contract, provided that Tesla remains responsible for (1) payment if
the Affiliate fails to pay in accordance with the Contract, (2) performance of Tesla Responsibilities applicable to the Contract, if any, if the Affiliate fails to perform such Tesla Responsibilities and (3) Tesla’s indemnification
obligations provided in Section 7.2. 

  

	 	(b)	If Seller intends that all or part of the manufacture of Goods will be subcontracted to a third-party subcontractor, Seller will: (i) be solely responsible for payments to the subcontractor; (ii) include in
its purchase order or any other contract with the subcontractor a waiver of subcontractor liens to the maximum extent permitted by applicable law; (iii) before permitting any subcontractor to use Tesla Property and/or access the Facility,
obtain Tesla’s prior written consent; (iv) provide notice to Tesla at each Production Meeting of [***]; and (v) [***] in connection with these General Terms and/or a Contract as reasonably requested by Tesla within a reasonable time
after receipt of Tesla’s notice and following a good faith discussion. Tesla has no obligation with respect to Seller’s subcontractor other than payment to Seller of the agreed price of the conforming Goods delivered to Authorized
Purchasers pursuant to their Purchase Order(s) accepted by Seller except as provided in [***]. 

  

	 	(c)	Any subcontracting, assignment or delegation by Seller does not relieve Seller of any responsibility under the Contract, and Seller remains responsible to the same extent as if the subcontracted, assigned or delegated
responsibilities were retained by Seller.

  

	 	(d)	In the event of a Change of Control Event affecting a Party, the person or entity which acquires Control of the Party shall be subject to the terms and conditions of, and shall assume all of the acquired Party’s
obligations under, these General Terms and the affected Contract(s).

  

	 	(e)	These General Terms and all Contract(s) shall be binding upon the respective successors and permitted assigns of the Parties. 

  

	16.5	Relationship of Parties. The Parties are independent contractors under these General Terms and the Contract and no other relationship is intended, including, without limitation, a partnership,
franchise, joint venture, agency, employer/employee, fiduciary, master/servant relationship, or other special relationship. Neither Party shall act in a manner that expresses or implies a relationship other than that of independent contractor,
nor bind the other Party. 

  

	16.6	No Waiver. The failure of either Party to enforce on a particular occasion any right or remedy provided in these General Terms and/or the Contract or by law or in equity will not be deemed a waiver of
that right or remedy on a subsequent occasion or a waiver of any other right or remedy. 

  

	16.7	 Rules of Interpretation. Section references are to sections of the document in which the reference is
contained and will be deemed to refer to and include all subsections of the referenced section. The section headings in these General Terms are for reference purposes only and may not be construed to modify or

  

			
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	 	restrict any of the terms of these General Terms and/or the Contract. These General Terms and each Contract will be deemed to have been written by both Tesla and Seller. Unless the context requires otherwise,
(a) “including” (and any of its derivative forms) means including but not limited to, (b) “may” means has the right, but not the obligation to do something and “may not” means does not have the right to do
something, (c) the words “will” and “shall” are shall be understood to apply to a mandatory obligation, not a permissive statement, and (d) terms defined in the singular include the plural and vice versa. These
General Terms and the Contract Documents are written in the English language, and the English text of these General Terms and of each Contract shall prevail over any translation hereof. 

 

	16.8	Conflicts. In the event of a conflict between or among the documents comprising these General Terms and/or a Contract, the following order of precedence will apply (documents listed in descending
order of priority): (a) any written agreement signed by authorized representatives of the Parties expressly amending these General Terms and/or a Contract Document; (b) the applicable Purchase Order accepted by Seller; (c) the
Production Plan; (d) a Pricing Agreement signed by the Parties; (e) any Product-specific exhibits or attachments to these General Terms; (f) these General Terms and any exhibits, attachments, schedules and documents included or
referenced in these General Terms that are not Product-specific attachments or schedules; and (g) any other Contract Document. These General Terms shall supersede any standard terms and conditions that are automatically attached to
purchase orders issued by Tesla. 

  

	16.9	Severability. If for any reason a court of competent jurisdiction finds any provision of these General Terms and/or the Contract to be unenforceable, that provision of these General Terms and/or the
Contract will be enforced to the maximum extent permissible so as to implement the intent of the Parties, and the remainder of these General Terms and/or the Contract will continue in full force and effect. 

 

	16.10	Survival. Any provision of these General Terms and/or of a Contract that contemplates or governs performance or observance subsequent to termination or expiration thereof will survive the expiration
or termination thereof for any reason, including without limitation Seller’s obligations, representations and warranties and Tesla’s rights under the Contract with respect to Goods delivered or ordered thereunder.

 

	16.11	No Third Party Beneficiaries. These General Terms and each Contract are entered into solely between Tesla and Seller and, except for the Parties’ indemnification obligations under Section 7
(Indemnification) and the Authorized Purchasers, will not be deemed to create any rights in any third parties or to create any obligations of either Tesla or Seller to any third parties. 

 

	16.12	Counterparts. These General Terms may be executed in counterparts, each of which shall be an original and together which shall constitute one and the same instrument. 

 

	16.13	Non-Solicitation. During the term of these General Terms, neither Party shall knowingly solicit for employment or induce to resign from the other Party any of the other Party’s then current employees,
directors or officers who are directly involved in the performance of these General Terms and/or the Contract without the prior written consent of the other Party. The foregoing shall not apply to advertisements or general solicitations that do
not specifically target the other Party’s employees. 

  

	16.14	Covenant of Good Faith. Except where an obligation is specifically identified as being in a party’s sole discretion, each Party, in its respective dealings with the other Party under or in connection
with these General Terms and each Contract, shall act in good faith and with fair dealing. 

  

	16.15	Electronic Communication. Subject to Section 2.4(c), Seller will comply with the method of electronic communication reasonable specified by Tesla from time to time, including requirements for
electronic funds transfer, purchase order transmission, electronic signature, and communication. 

  

	16.16	Environmentally Friendly Practices. In addition to complying with all environmental and safety requirements, to the maximum extent practicable, each Party will use environmentally conscious materials and
practices in the development, manufacturing, packaging and delivery of all Goods and/or in connection with the Factory. 

  

			
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	16.17	Defined Terms. Terms used in these General Terms with initial capitalization have the meanings specified where used or in this Section 16.17. 

 

	 	(a)	“Affiliate” means with respect to an entity, any other entity or person Controlling, Controlled by, or under common Control with, such entity.

 

	 	(b)	“Anti-Bribery Laws” means the United States Foreign Corrupt Practices Act of 1977, the United Kingdom Bribery Act of 2010, the OECD Convention on Combating Bribery of Foreign Public Officials in
International Business Transactions (in each case, as amended from time to time) and all other applicable national, regional, provincial, state, municipal or local laws and regulations that prohibit the bribery of, or the providing of unlawful
gratuities, facilitation payments or other benefits to, any government official or any other person. 

  

	 	(c)	“Authorized Purchaser” means Tesla or any Affiliate of Tesla that is authorized by Tesla to purchase Goods on behalf of Tesla and that Tesla notifies in writing to Seller. 

 

	 	(d)	[***]. 

  

	 	(e)	[***]. 

  

	 	(f)	“Change of Control Event” means a transaction or event involving a Party whereby (i) any other entity, person or “group” (as such term is used in Section 13(d) of the Securities Exchange
Act of 1934, as amended) has acquired Control of all or substantially all of the assets, of such Party (or any parent company of such Party), whether directly or indirectly, in a single transaction or series of related transactions, or
(ii) such Party (or any parent company of such Party) has consolidated with, or merged with or into, another entity, or sold, assigned, conveyed, transferred, leased or otherwise disposed of all or substantially all of its assets to another
person(s) or entity(ies).

  

	 	(g)	“Claim” means any demand, or any civil, criminal, administrative or investigative claim, action or proceeding (including arbitration) asserted, commenced or threatened against an entity or person by an
unaffiliated third party. For the purposes of this definition, an employee of either Party is considered an unaffiliated third party. 

  

	 	(h)	“Commercially Reasonable Efforts” means taking all such steps and performing in such a manner as a well-managed company would undertake where it was acting in a determined, prudent and reasonable manner
to achieve a particular desired result for its own benefit. 

  

	 	(i)	“Contract Documents” means the Purchase Order accepted by Seller, the applicable Pricing Agreement (if any), the provisions of these General Terms relevant to the obligations under the accepted Purchase
Order (e.g., production and delivery of Goods), documents and attachments which are both referenced in any of the foregoing (including Specifications) relevant to the obligations under the accepted Purchase Order (e.g., production and delivery of
Goods), and any other additional written agreements which are signed by authorized representatives of the Parties and pertain to the obligations under the accepted Purchase Order (e.g., production and delivery of Goods). 

 

	 	(j)	“Control” means possessing, directly or indirectly, the power to direct or cause the direction of the management, policies or operations of an entity, whether through ownership of voting securities, by
contract or otherwise. 

  

	 	(k)	“Effective Date” has the meaning set forth in introduction. 

  

	 	(l)	“Goods” means all products specifically identified in a statement of work or product specific attachment or amendment to these General Terms, and all products that are not so identified, but which are
made by or on behalf of Seller at the Factory and offered or sold by Seller to Tesla or any of its Authorized Purchasers. Goods shall include goods made by or on behalf of Seller at the Factory and sold by Seller to any Authorized Purchaser,
directly or indirectly including through resellers, distributors, value-added distributors and subassembly manufacturers. “Goods” includes prototype and development parts, pre-production versions of Goods. To the extent that the
Goods are Software, references to “sale” or words of similar meaning shall be deemed to refer to a “license” of such Goods consistent with the terms in the Contract. 

  

			
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	 	(m)	“Intellectual Property Rights” means all intellectual and industrial property rights recognized in any jurisdiction, including copyrights, mask work rights, moral rights, trade secrets, patent rights,
rights in inventions, trademarks, trade names, and service marks (including applications for, and registrations, extensions, renewals, and re-issuances of, the foregoing). 

 

	 	(n)	“Law(s)” means any statute, regulation, ordinance, rule, order, decree or governmental requirement enacted, promulgated or imposed by any governmental authority at any level (e.g., municipal, county,
province, state or national). For the avoidance of doubt, the term “Laws” includes any and all applicable Anti-Bribery Laws and any and all applicable Laws with respect to: (i) occupational safety and health;
(ii) protection of persons and property from death, injury or damage; (iii) the environment and the use, handling, storage, labeling and disposal of toxic or hazardous materials; and/or (iv) labor and employment. 

 

	 	(o)	“Lead Time” means the time expressly agreed upon in a written agreement signed by the Parties that an order should be placed so that the supplier of the good or service may deliver by the desired
delivery date, or if not so agreed, the reasonable amount of time required by a typical supplier in the relevant industry, to manufacture the goods or complete the services that are the subject of the order. 

 

	 	(p)	“Module” means smallest replaceable unit in a Tesla battery pack. In the case of the Tesla Roadster, the Module consists of 621 battery cells connected in a series/parallel arrangement.

  

	 	(q)	“Person” means an individual, corporation, partnership, limited partnership, joint venture, association, joint stock company, trust, trustee, estate, limited liability company, unincorporated
organization, real estate investment trust, government or any agency or political subdivision thereof, or any other form of entity. 

  

	 	(r)	“Purchase Order” means a purchase order for Goods issued by Tesla or another Authorized Purchaser (e.g., a Production Order or a Discrete Order). 

 

	 	(s)	“Seller Personnel” means any personnel furnished by Seller or any of its Affiliates and working at the Factory in connection with the Contract, including employees and independent contractors of Seller,
its Affiliates and subcontractors. 

  

	 	(t)	“Seller’s Property” has the meaning given in Section 9.1 of these General Terms. 

  

	 	(u)	“Specifications” means the most current version of all applicable specifications and requirements that are: (i) provided by Tesla (including other documents or requirements specifically incorporated or
referenced in these General Terms, Purchase Orders, bills of materials, statements of work, project schedules, drawings, and CAD data) and approved in writing by Seller; and/or (ii) provided by Seller (including any samples, drawing, CAD data,
spec sheets, or other descriptions or specifications or representations) and either (a) approved of by Tesla in writing or (b) relied upon by Tesla. Notwithstanding anything to the contrary in these General Terms, the Parties intend to describe
all aspects of the design of the Goods in the applicable Specifications to the extent feasible. 

  

	 	(v)	“Tesla” means Tesla Motors, Inc. and/or an Affiliate(s) of Tesla. 

  

	 	(w)	“Tesla Motors Supplier Handbook” means the most current version of the written set of guidelines, standards and requirements provided by Tesla regarding development and production of Goods under these
General Terms. The Tesla Motors Supplier Handbook may be provided by Tesla electronically or via a web-based portal. 

  

	 	(x)	“Tesla Product” means any product that is manufactured by or on behalf of Tesla (excluding Goods). Tesla Products may include vehicles, chargers, subassemblies, systems and components.

  

	 	(y)	“Tesla-Supplied Items” means, collectively, the raw materials, components, supplies, and/or services to be provided by Tesla in connection with these General Terms (e.g. Utilities) and/or the Contract
as a Tesla Responsibility. 

  

			
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	 	(z)	“US Person” means a United States citizen, entity organized under the Laws of the United States or its territories or entity having its principal place of business within the United States or any of its
territories. 

  

	 	(aa)	“Warranty Period” has the meaning given in Section 5.1(a). 

  

			
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IN WITNESS WHEREOF, the Parties have executed these General Terms by persons duly authorized below: 

 

									
		 	Tesla Motors, Inc.	 		 		 	Panasonic Corporation
					
	By:	 	 /s/ JB Straubel
	 		 	By:	 	 /s/ Yoshio Ito

					
	Printed:	 	JB Straubel	 		 	Printed:	 	Yoshio Ito
					
	Title:	 	Chief Technology Officer	 		 	Title:	 	 Senior Managing Director, Member of the Board

President, Automotive & Industrial Systems Company
 Panasonic
Corporation

					
	Date:	 	October 1, 2014	 		 	Date:	 	September 30, 2014

  

			
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Exhibit 1 – Quality Requirements 
 1.
Quality Requirements. All Goods sold to Tesla under the Contract shall be manufactured and provided in accordance with agreed Tesla’s quality control procedures and requirements, including, without limitation, all Tesla quality
standards (collectively, the “Quality Requirements”). The Parties shall determine upon the mutual consultation whether the Goods meet the Quality Requirements. Seller shall, in accordance with the Quality Requirements,
provide, maintain and enforce all measures necessary to secure the quality of Goods and the manufacturing processes thereof, including without limitation, quality control standards, inspection standards and specifications. 

2. PPAP. All cells shall go through a formal Production Part Approval Process (“PPAP”) process prior to use in a Tesla
product. The PPAP process requires a review of product and process documents (FMEA, Control Plans, Inspection Standard, IEEE, etc.) and a process audit (as deemed necessary by Tesla Quality Personnel). Seller shall inform Tesla of any
process and product changes that occur after completion of the PPAP process. 
 3. Evidence of Seller’s Quality Assurance; Testing. Upon
Tesla’s request and within the scope that the Parties agree, Seller shall deliver to Tesla [***] as will validate compliance with all Quality Requirements. If quality problems based upon the Quality Requirements arise from the Goods, Tesla
may, upon prior notice and during normal business hours: [***]. 
 4. Pre-delivery Inspection. Seller shall be responsible for the quality
control of the Goods it supplies to Tesla pursuant to the Contract, including, without limitation, adequate inspection and testing of Goods prior to delivery. 

5. Tesla Testing. If quality problems based upon the Quality Requirements arise from the Goods, upon receipt of a reasonable request by Tesla,
Seller shall promptly conduct required engineering and quality control tests of Goods manufactured pursuant to the Contract, and shall provide Tesla with the results of those tests.

6. This Exhibit 1 does not limit the Parties’ respective rights and obligations under the Contract. 

  

			
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