Document:

Amendment to the Amended and Restated Investors' Rights Agreement

 Exhibit 4.3 
 BRIGHTSOURCE ENERGY, INC. 
 AMENDMENT TO THE 

AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 This Amendment to the Amended and Restated Investor Rights Agreement (“Amendment”) is made as of March 11, 2011, between BrightSource Energy, Inc., a Delaware corporation (the
“Company”), and the Investors set forth on the signature pages hereto (the “Majority Investors”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in that certain Amended
and Restated Investors’ Rights Agreement, dated December 28, 2010, by and among the Company and certain Investors listed on Exhibit A attached thereto (the “Rights Agreement”). 

WHEREAS, the Majority Investors represent holders of at least a majority of the Registrable Securities currently outstanding. 

WHEREAS, in connection with additional Closings under that certain Series E Preferred Stock Purchase Agreement, dated December 28,
2010, by and among the Company and certain Purchasers listed on Exhibit A attached thereto, as amended (the “Purchase Agreement”), the Majority Investors desire to amend the Rights Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree, on behalf of themselves and on behalf of all of the Investors (as such term is defined in the Rights Agreement), as follows: 

1. The Company and the Majority Investors hereby approve of the amending Section 1.4 to add new subsections (d) and
(e) that reads in their entirety as follows: 
 “(d) Upon the Company becoming a well-known seasoned issuer (as
defined in Rule 405 under the Securities Act) (a “WKSI”), at the time any request for registration pursuant to Section 1.2 or 1.4 is submitted to the Company, the Company shall file an automatic shelf registration statement (as
defined in Rule 405 under the Securities Act) (an “automatic shelf registration statement”) on Form S-3 or any comparable or successor form which covers those Registrable Securities which are requested to be registered, all in accordance
with the provisions of Section 1.2 or 1.4. If the Company does not pay the filing fee covering Registrable Securities at the time such automatic shelf registration statement is filed, the Company agrees to pay such fee at such time or times as
the Registrable Securities are to be sold. If at any time when the Company is required to re-evaluate its WKSI status, the Company determines that it is not a WKSI, the Company shall use its commercially reasonable efforts to refile the shelf
registration statement on Form S-3 or any comparable or successor form and, if such form is not available, Form S-1 or any comparable or successor form, and keep such registration statement effective during the period during which such registration
statement is required to be kept effective. 
 (e) If the Company is a WKSI at the time it files any shelf registration
statement for the benefit of the holders of any of its securities other than the Holders, the 

 
Company agrees that it shall use its commercially reasonable efforts to include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring
to the unnamed selling security holders in a generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such shelf registration statement at a later time upon exercise of
their rights pursuant to Section 1.2 through the filing of a prospectus supplement rather than a post-effective amendment.” 
 2. The Company and the Majority Investors hereby approve of the amending and restating Section 1.10(a) to read in its entirety as follows: 

“(a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the
Securities Act) for such Holder and each person, if any, who controls such Holder the partners, members, officers, directors, legal counsel and accountants of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each
person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act,
the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a
“Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto, or any Issuer Free Writing Prospectus (as defined in Rule 433 of the Securities Act) used by the Company, the underwriter or any Holder, or otherwise conveyed to any purchaser at the time of the sale to such purchaser, or the
omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (ii) any violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law; and the Company will pay to each such Holder, partner, member, officer, director, agent, underwriter
or controlling person, as incurred, any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity
agreement contained in this subsection 1.10(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be
unreasonably withheld), nor shall the Company be liable to any Holder, underwriter or controlling person for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation which occurs in reliance
upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, partner, member, officer, director, agent, underwriter or controlling person.” 

3. The Company and the Majority Investors hereby approve of the amending Section 1.14 to add a new subsection (f) that reads in
its entirety as follows: 
 “(f) Ordinary Course Activities. Notwithstanding anything in this Agreement, none
of the provisions of this Agreement shall in any way limit any Investor or any 

 
of such Investor’s affiliates from engaging in any brokerage, investment advisory, financial advisory, anti-raid advisory, principaling, merger advisory, financing, asset management,
trading, market making, arbitrage, investment activity and other similar activities conducted in the ordinary course of their business. Notwithstanding anything to the contrary set forth in this Agreement, the restrictions contained in this
Agreement shall not apply to Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock acquired by any Investor or any of such Investor’s affiliates following the effective date of the first registration
statement of the Company covering Common Stock (or other securities) to be sold on behalf of the Company in an underwritten public offering.” 
 4. The Company and the Majority Investors hereby approve of the amending the Rights Agreement to add a new Section 1.16 that reads in its entirety as follows: 

“1.16 Deemed Underwriters. To the extent that, in connection with a registration of any of the Registrable Securities
under the Securities Act pursuant to this Agreement, any selling Holder is deemed to be an underwriter of Registrable Securities pursuant to any SEC comments or policies, the Company agrees that such Holder shall be entitled to (i) require that
such offering be registered on an appropriate registration form, (ii) participate in the preparation of such registration statement and to require the insertion therein of language, furnished to the Company in writing, which in the reasonable
judgment of such Holder and its counsel should be included, (iii) conduct underwriter’s due diligence which would normally be conducted in connection with an offering of securities registered under the Securities Act, including without
limitation receipt of customary opinions and comfort letters, and (iv) indemnification and contribution pursuant to the provisions contained in Section 1.10 hereof for such Holder’s benefit in its role as deemed underwriter in
addition to its capacity as a Holder.” 
 5. The Company and the Majority Investors hereby approve of the amending the
Rights Agreement to add a new Section 2.12 that reads in its entirety as follows: 
 “2.12 Corporate
Opportunity. To the fullest extent permitted by applicable law (i) no Investor and no stockholder, member, manager, partner or affiliate of any Investor or any of their respective officers, directors, employees or agents (any of the
foregoing, an “Investor Group Member”) shall, solely by virtue of this Agreement, have any duty to communicate or present an investment or business opportunity or prospective economic advantage to the Company or any of its subsidiaries in
which the Company or any of its subsidiaries may, but for the provisions of this Section 2.14, have an interest or expectancy (“Corporate Opportunity”), even if such Corporate Opportunity is one that the Company or any of its
subsidiaries might reasonably be deemed to have pursued or had the ability or desire to pursue if granted the opportunity to do so and (ii) no Investor nor any Investor Group Member (even if also an officer or director of the Company) will,
solely by virtue of this Agreement, be deemed to have breached any fiduciary or other duty or obligation to the Company, or be liable to the Company, by reason of the fact that any such person pursues or acquires a Corporate Opportunity for itself
or its affiliates or directs, sells, assigns or transfers such Corporate Opportunity to another person or does not communicate information regarding such Corporate Opportunity to the Company. The Company, on behalf of itself and its subsidiaries,
renounces any interest in a Corporate Opportunity and any expectancy that a Corporate Opportunity will be offered to the Company; provided however, that the 

 
Company does not renounce any interest or expectancy it may have in any Corporate Opportunity that is offered to an officer or director of the Company whether or not such individual is also a
director or officer of an Investor, if such opportunity is expressly offered to such person in writing solely in his or her capacity as an officer or director of the Company or any of its subsidiaries and each Investor recognizes that the Company
reserves such rights.” 
 6. The Company and the Majority Investors hereby approve of the amending the Rights Agreement to
add a new Section 2.13 that reads in its entirety as follows: 
 “2.13 Restriction on Non-Competition
Agreements. The Company shall not enter into or otherwise become a party to, and shall use its commercially reasonable efforts to prevent any officer or director of the Company from entering into or otherwise becoming a party to, any
agreement that restricts the ability or authority of any of the Purchasers or their affiliates to compete with the line of businesses in which the Company and its subsidiaries are engaged.” 

7. The Company and the Majority Investors hereby approve of the amending and restating Section 3.2 to read in its entirety as
follows: 
 “3.2 Entire Agreement. Unless otherwise specifically provided in writing, this Agreement
constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof, and any and all other written or oral agreements relating to the subject matter hereof existing between the parties hereto are expressly
canceled.” 
 8. The Company represents and warrants that the Majority Investors represent the requisite holders to amend
the Rights Agreement pursuant to Section 3.4 of the Rights Agreement. 
 9. The Rights Agreement as modified herein shall
remain in full force and effect as so modified. 
 10. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original and all of which together shall constitute one instrument. 
 [signature pages follow]

 The parties have executed this Amendment to the Amended and Restated Investor Rights
Agreement as of the date first above written. 
  

					
	COMPANY:
	
	BRIGHTSOURCE ENERGY, INC.
		
	By:	 	 /s/ John Woolard

		 	John Woolard
		 	President and Chief Executive Officer
		
	Address:	 	1999 Harrison Street
		 		 	Suite 2150
		 		 	Oakland, CA 94612
		 		 	United States of America

 The parties have executed this Amendment to the Amended and Restated Investor Rights
Agreement as of the date first above written. 
  

			
	INVESTOR:
	
	VantagePoint CleanTech Partners II, L.P.
		
	By:	 	VantagePoint CleanTech Associates II, L.P.
	By:	 	VantagePoint CleanTech II Management, Ltd.
		 	Its General Partner
		
	By:	 	 /s/ Alan E. Salzman

	Name:	 	Alan E. Salzman
	Title:	 	Chief Executive Officer
	
	VPVP CleanTech Holdings 2006, L.L.C.
		
	By:	 	VantagePoint Venture Partners 2006 (Q), L.P.,
		 	Its Sole Member
	By:	 	VantagePoint Venture Associates 2006, L.L.C.,
		 	Its Managing Member
		
	By:	 	 /s/ Alan E. Salzman

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member
	
	VantagePoint CleanTech Partners, L.P.
		
	By:	 	VantagePoint CleanTech Associates, L.L.C.,
		 	Its General Partner
		
	By:	 	 /s/ Alan E. Salzman

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member
	
	VPVP CleanTech Holdings 2004, L.L.C.
		
	By:	 	Series VPVP IV(Q)
	By:	 	Series VPVP IV
		
	By:	 	 VantagePoint Venture Associates IV, L.L.C.,
 Series Manager

		
	By:	 	 /s/ Alan E. Salzman

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member
	
	VantagePoint Venture Partners IV Principals Fund, L.P.
		
	By:	 	 VantagePoint Venture Associates IV, L.L.C.,
 Its General Partner

		
	By:	 	 /s/ Alan E. Salzman

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member

 The parties have executed this Amendment to the Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	ALSTOM POWER INC.
		
	By:	 	 /s/ Timothy F. Curran

		
	Name:	 	 Timothy F. Curran

		 	(print)
	Title:	 	 President

 The parties have executed this Amendment to the Amended and Restated Investors’ Rights
Agreement as of the date first above written. 
 INVESTOR: 
 DRAPER FISHER JURVETSON GROWTH FUND 2006, L.P. 

 

			
	By:	 	Draper Fisher Jurvetson Growth Fund 2006 Partners, L.P.
	Its:	 	General Partner
	By:	 	DFJ Growth Fund 2006, Ltd.
	Its:	 	General Partner
		
	By:	 	 /s/ Mark W. Bailey

	Name:	 	Mark W. Bailey
	Title:	 	Director
	
	DRAPER FISHER JURVETSON PARTNERS GROWTH FUND 
2006, LLC
		
	By:	 	 /s/ Mark W. Bailey

	Name:	 	Mark W. Bailey
	Title:	 	Authorized Member
	
	DRAPER FISHER JURVETSON FUND VIII, L.P.
		
	By:	 	 /s/ John Fisher

	Name:	 	John Fisher
	Title:	 	Managing Director
	
	DRAPER FISHER JURVETSON FUND VIII, LLC
		
	By:	 	 /s/ John Fisher

	Name:	 	John Fisher
	Title:	 	Managing Director
	
	DRAPER ASSOCIATES, L.P.
		
	By:	 	 /s/ Timothy C. Draper

	Name:	 	Timothy C. Draper
	Title:	 	General PartnerWarrant Agreement

 Exhibit 4.4 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY IN-HOUSE COUNSEL) REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
APPLICABLE STATE SECURITIES LAWS. 
 WARRANT AGREEMENT 
 To Purchase Shares of the Series D Preferred Stock of 
 BRIGHTSOURCE ENERGY, INC.

 Dated as of December 28, 2010 (the “Effective Date”) 

WHEREAS, BrightSource Energy, Inc., a Delaware corporation (the “Company”), has entered into a Loan and Security
Agreement of even date herewith (the “Loan Agreement”) with Hercules Technology Growth Capital, Inc., a Maryland corporation (the “Warrantholder”); 

WHEREAS, the Company desires to grant to Warrantholder, in consideration for, among other things, the financial accommodations provided
for in the Loan Agreement, the right to purchase shares of its Series D Preferred Stock pursuant to this Warrant Agreement (the “Agreement”); 
 NOW, THEREFORE, in consideration of the Warrantholder executing and delivering the Loan Agreement and providing the financial accommodations contemplated therein, and in consideration of the mutual
covenants and agreements contained herein, the Company and Warrantholder agree as follows: 
 SECTION 1. GRANT OF THE
RIGHT TO PURCHASE PREFERRED STOCK. 
 For value received, the Company hereby grants to the Warrantholder, and the Warrantholder
is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, a number of fully paid and non-assessable shares of the Preferred Stock (as defined below) equal to the quotient
derived by dividing (x)(i) $875,000 prior to June 30, 2011 or (ii) $1,750,000 on or after June 30, 2011 if the Company has not paid the outstanding Secured Obligations in full by June 30, 2011, by (y) the Exercise Price. The
Exercise Price, at Warrantholder’s option, is a price equal to either (a) $6.7246 per share if this Warrant is exercised for shares of Series D Preferred Stock or (b) the price per Share paid in the next institutional equity financing
of the Company prior to an Initial Public Offering if this Warrant is exercised for shares of equity securities sold in such next institutional equity financing of the Company. The number and Exercise Price of such shares are subject to adjustment
as provided in Section 8. As used herein, the following terms shall have the following meanings: 
 “Act”
means the Securities Act of 1933, as amended. 
 “Charter” means the Company’s Articles of Incorporation,
Certificate of Incorporation or other constitutional document, as may be amended from time to time. 
 “Common
Stock” means the Company’s common stock; 
 “Initial Public Offering” means the initial
underwritten public offering of the Company’s Common Stock pursuant to a registration statement under the Act, which public offering has been declared effective by the Securities and Exchange Commission (“SEC”); 

“Merger Event” means a merger or consolidation involving the Company in which the Company is not the surviving entity, or
in which the outstanding shares of the Company’s capital stock are otherwise converted into or exchanged for shares of capital stock of another entity. 
 “Preferred Stock” means the Series D Preferred Stock of the Company and any other stock into or for which the Series D Preferred Stock may be converted or exchanged, provided that if the
Company issues its equity securities in an institutional equity financing after the date hereof but 

  
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before the date of the Initial Public Offering then, at Warrantholder’s option, the Preferred Stock shall be of the class and type sold in such financing. Upon and after the occurrence of an
event which results in the automatic or voluntary conversion, redemption or retirement of all (but not less than all) of the outstanding shares of such Preferred Stock, including, without limitation, the consummation of an Initial Public Offering of
the Common Stock in which such a conversion occurs, then from and after the date upon which such outstanding shares are so converted, redeemed or retired, “Preferred Stock” shall mean such Common Stock; and 

“Purchase Price” means, with respect to any exercise of this Agreement, an amount equal to the Exercise Price as of the
relevant time multiplied by the number of shares of Preferred Stock requested to be exercised under this Agreement pursuant to such exercise. 
 “Rights Agreement” means that certain Amended and Restated Investors’ Rights Agreement between the Company and certain of its shareholders dated February 2, 2010, as amended.

 SECTION 2. TERM OF THE AGREEMENT. 
 Except as otherwise provided for herein, the term of this Agreement and the right to purchase Preferred Stock as granted herein (the “Warrant) shall commence on the Effective Date and shall be
exercisable for a period ending upon the earlier to occur of (i) five (5) years from the Effective Date; (ii) three (3) years after the Initial Public Offering; or (iii) a Merger Event in which the holders of the Preferred
Stock receive cash or freely publicly tradable securities in such transaction. 
 SECTION 3. EXERCISE OF THE PURCHASE
RIGHTS. 
 (a) Exercise. The purchase rights set forth in this Agreement are exercisable by the Warrantholder, in whole or
in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the
“Notice of Exercise”), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than ten
(10) business days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Preferred Stock purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II
(the “Acknowledgment of Exercise”) indicating the number of shares which remain subject to future purchases, if any. 
 The Purchase Price may be paid at the Warrantholder’s election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant for shares of Preferred Stock to be
exercised under this Agreement and, if applicable, an amended Agreement representing the remaining number of shares purchasable hereunder, as determined below (“Net Issuance”). If the Warrantholder elects the Net Issuance method,
the Company will issue Preferred Stock in accordance with the following formula: 
  

					
		  		  	X = Y(A-B)
		  		  	            A
	Where:	  	X =	  	the number of shares of Preferred Stock to be issued to the Warrantholder.
			
		  		  	            Y = the number of shares of Preferred Stock requested to be exercised under this
Agreement.
			
		  		  	            A = the fair market value of one (1) share of Preferred Stock at the time of issuance of such shares
of Preferred Stock.
			
		  	B =	  	the Exercise Price.

 For purposes of the
above calculation, current fair market value of Preferred Stock shall mean with respect to each share of Preferred Stock: 
 (i) if the exercise is in connection with an Initial Public Offering, and if the Company’s Registration Statement relating to such Initial Public Offering has been declared effective by the SEC, then
the fair market value per share shall be the product of (x) the initial “Price to Public” of the Common Stock specified in the final prospectus with respect to the 

  
 2 

 
offering and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 

(ii) if the exercise is after, and not in connection with an Initial Public Offering, and: 

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

(iii) if at any time the Common Stock is not listed on any securities exchange or quoted in the NASDAQ National Market or
the over-the-counter market, the current fair market value of Preferred Stock shall be the product of (x) the highest price per share which the Company could obtain from a willing buyer (not a current employee or director) for shares of Common
Stock sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such
exercise, unless the Company shall become subject to a Merger Event, in which case the fair market value of Preferred Stock shall be deemed to be the per share value received by the holders of the Company’s Preferred Stock on a common
equivalent basis pursuant to such Merger Event. 
 Upon partial exercise by either cash or Net Issuance, the Company shall
promptly issue an amended Agreement representing the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Agreement shall be identical to those contained herein, including, but not limited to the Effective
Date hereof. 
 (b) Exercise Prior to Expiration. To the extent this Agreement is not previously exercised as to all
Preferred Stock subject hereto, and if the fair market value of one share of the Preferred Stock is greater than the Exercise Price then in effect, this Agreement shall be deemed automatically exercised pursuant to Section 3(a) (even if not
surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Preferred Stock upon such expiration shall be determined pursuant to Section 3(a). To the extent this Agreement
or any portion thereof is deemed automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of shares of Preferred Stock, if any, the Warrantholder is to receive by reason of
such automatic exercise. 
 SECTION 4. RESERVATION OF SHARES. 

During the term of this Agreement, the Company will at all times have authorized and reserved a sufficient number of shares of its
Preferred Stock to provide for the exercise of the rights to purchase Preferred Stock as provided for herein, and shall have authorized and reserved a sufficient number of shares of its Common Stock to provide for the conversion of the Preferred
Shares available hereunder. 
 SECTION 5. NO FRACTIONAL SHARES OR SCRIP. 

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Agreement, but in lieu of such
fractional shares the Company shall make a cash payment therefor upon the basis of the Exercise Price then in effect. 

SECTION 6. REGISTRATION RIGHTS; NO OTHER RIGHTS AS SHAREHOLDER/STOCKHOLDER. 

The Common Stock into which the Preferred Stock is convertible shall be “Registrable Securities”, and Warrantholder shall have
the rights and obligations of an “Investor” under the Rights 

  
 3 

 
Agreement, including without limitation the obligations set forth in Section 1.14 of the Rights Agreement. This Agreement does not entitle the Warrantholder to any voting rights or other
rights as a shareholder/stockholder of the Company prior to the exercise of this Agreement. 
 SECTION 7. WARRANTHOLDER
REGISTRY. 
 The Company shall maintain a registry showing the name and address of the registered holder of this Agreement.
Warrantholder’s initial address, for purposes of such registry, is set forth below Warrantholder’s signature on this Agreement. Warrantholder may change such address by giving written notice of such changed address to the Company.

 SECTION 8. ADJUSTMENT RIGHTS. 
 The Exercise Price and the number of shares of Preferred Stock purchasable hereunder are subject to adjustment, as follows: 
 (a) Merger Event. If at any time there shall be Merger Event (other than a Merger Event in which the holders of the Preferred Stock receive cash or freely publicly tradable securities in such
transaction and subject to Section 2 of this Agreement), then, as a part of such Merger Event, lawful provision shall be made so that the Warrantholder shall thereafter be entitled to receive, upon exercise of this Agreement, the number of
shares of preferred stock or other securities or property of the successor corporation resulting from such Merger Event that would have been issuable if Warrantholder had exercised this Agreement immediately prior to the Merger Event. In any such
case, appropriate adjustment (as determined in good faith by the Company’s Board of Directors) shall be made in the application of the provisions of this Agreement with respect to the rights and interests of the Warrantholder after the Merger
Event to the end that the provisions of this Agreement (including adjustments of the Exercise Price and number of shares of Preferred Stock purchasable) shall be applicable in their entirety, and to the greatest extent possible. Without limiting the
foregoing, in connection with any such Merger Event, upon the closing thereof, the successor or surviving entity shall assume the obligations of this Agreement. In connection with a Merger Event and upon Warrantholder’s written election to the
Company, the Company shall cause this Warrant Agreement to be exchanged for the consideration that Warrantholder would have received if Warrantholder chose to exercise its right to have shares issued pursuant to the Net Issuance provisions of this
Warrant Agreement without actually exercising such right, acquiring such shares and exchanging such shares for such consideration. 
 (b) Reclassification of Shares. Except as set forth in Section 8(a), if the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise,
change any of the securities as to which purchase rights under this Agreement exist into the same or a different number of securities of any other class or classes, this Agreement shall thereafter represent the right to acquire such number and kind
of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Agreement immediately prior to such combination, reclassification, exchange, subdivision or
other change. 
 (c) Subdivision or Combination of Shares. If the Company at any time shall combine or subdivide its
Preferred Stock, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased, and the number of shares of Preferred Stock issuable upon exercise of this Agreement shall be proportionately increased, or (ii) in
the case of a combination, the Exercise Price shall be proportionately increased, and the number of shares of Preferred Stock issuable upon the exercise of this Agreement shall be proportionately decreased. 

(d) Stock Dividends. If the Company at any time while this Agreement is outstanding and unexpired shall: 

(i) pay a dividend with respect to the Preferred Stock payable in Preferred Stock, then the Exercise Price shall be
adjusted, from and after the date of determination of stockholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction
(A) the numerator of which shall be the total number of shares of Preferred Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the

  
 4 

 
total number of shares of Preferred Stock outstanding immediately after such dividend or distribution; or 
 (ii) make any other distribution with respect to Preferred Stock (or stock into which the Preferred Stock is convertible), except any distribution specifically provided for in any other clause of this
Section 8, then, in each such case, provision shall be made by the Company such that the Warrantholder shall receive upon exercise or conversion of this Warrant a proportionate share of any such distribution as though it were the holder of the
Preferred Stock (or other stock for which the Preferred Stock is convertible) as of the record date fixed for the determination of the stockholders of the Company entitled to receive such distribution. 

(e) Antidilution Rights. Additional antidilution rights applicable to the Preferred Stock purchasable hereunder are as set forth
in the Company’s Charter and shall be applicable with respect to the Preferred Stock issuable hereunder. The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Charter;
provided, that no such amendment, modification or waiver shall impair or reduce the antidilution rights applicable to the Preferred Stock as of the date hereof unless such amendment, modification or waiver affects the rights of Warrantholder
with respect to the Preferred Stock in the same manner as it affects all other holders of Preferred Stock. The Company shall provide Warrantholder with prior written notice of any issuance of its stock or other equity security to occur after the
Effective Date of this Agreement, which notice shall include (a) the price at which such stock or security is to be sold, (b) the number of shares to be issued, and (c) such other information as necessary for Warrantholder to
determine if a dilutive event has occurred. For the avoidance of doubt, there shall be no duplicate anti-dilution adjustment pursuant to this subsection (e), the forgoing subsection (d) and the Company’s Charter. 

(f) Notice of Adjustments. If: (i) the Company shall declare any dividend or distribution upon its stock, whether in stock,
cash, property or other securities (assuming Warrantholder consents to a dividend involving cash, property or other securities); (ii) the Company shall offer for subscription prorata to the holders of any class of its Preferred Stock or other
convertible stock any additional shares of stock of any class or other rights; (iii) there shall be any Merger Event; (iv) there shall be an Initial Public Offering; (v) the Company shall sell, lease, license or otherwise transfer all
or substantially all of its assets; or (vi) there shall be any voluntary dissolution, liquidation or winding up of the Company; then, in connection with each such event, the Company shall send to the Warrantholder: (A) at least ten
(10) days’ prior written notice of the date on which the books of the Company shall close or a record shall be taken for such dividend, distribution, subscription rights (specifying the date on which the holders of Preferred Stock shall be
entitled thereto) or for determining rights to vote in respect of such Merger Event, dissolution, liquidation or winding up; (B) in the case of any such Merger Event, sale, lease, license or other transfer of all or substantially all assets,
dissolution, liquidation or winding up, at least ten (10) days’ prior written notice of the date when the same shall take place (and specifying the date on which the holders of Preferred Stock shall be entitled to exchange their Preferred
Stock for securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding up); and (C) in the case of an Initial Public Offering, the Company shall give the Warrantholder at least ten (10) days’
written notice prior to the effective date thereof. 
 Each such written notice shall set forth, in reasonable detail,
(i) the event requiring the notice, and (ii) if any adjustment is required to be made, (A) the amount of such adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the
Exercise Price has been adjusted), and (D) the number of shares subject to purchase hereunder after giving effect to such adjustment, and shall be given by first class mail, postage prepaid, or by reputable overnight courier with all charges
prepaid, addressed to the Warrantholder at the address for Warrantholder set forth in the registry referred to in Section 7. 
 (g) Timely Notice. Failure to timely provide such notice required by subsection (f) above shall entitle Warrantholder to retain the benefit of the applicable notice period notwithstanding
anything to the contrary contained in any insufficient notice received by Warrantholder. For purposes of this subsection (g), and notwithstanding anything to the contrary in Section 12(g), the notice period shall begin on the date
Warrantholder actually receives a written notice containing all the information required to be provided in such subsection (f). 

  
 5 

 SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 

(a) Reservation of Preferred Stock. The Preferred Stock issuable upon exercise of the Warrantholder’s rights has been duly and
validly reserved and, when issued in accordance with the provisions of this Agreement, will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided,
that the Preferred Stock issuable pursuant to this Agreement may be subject to restrictions on transfer under state and/or federal securities laws. The Company has made available to the Warrantholder true, correct and complete copies of its Charter
and current bylaws. The issuance of certificates for shares of Preferred Stock upon exercise of this Agreement shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or other cost incurred by the Company in
connection with such exercise and the related issuance of shares of Preferred Stock; provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the issuance and delivery of any
certificate in a name other than that of the Warrantholder. 
 (b) Due Authority. The execution and delivery by the
Company of this Agreement and the performance of all obligations of the Company hereunder, including the issuance to Warrantholder of the right to acquire the shares of Preferred Stock and the Common Stock into which it may be converted, have been
duly authorized by all necessary corporate action on the part of the Company. This Agreement: (1) does not violate the Company’s Charter or current bylaws; (2) does not contravene any law or governmental rule, regulation or order
applicable to it; and (3) does not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which it is a party or by which it is bound. This Agreement constitutes a
legal, valid and binding agreement of the Company, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application
relating to or affecting the enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

(c) Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of any other action in
respect of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this Agreement, except for the filing of notices pursuant to
Regulation D under the Act and any filing required by applicable state securities law, which filings will be effective by the time required thereby. 
 (d) Issued Securities. All issued and outstanding shares of Common Stock, Preferred Stock or any other securities of the Company have been duly authorized and validly issued and are fully paid and
nonassessable. All outstanding shares of Common Stock, Preferred Stock and any other securities were issued in full compliance with all federal and state securities laws. In addition, as of the date immediately preceding the date of this Agreement:

 (i) The authorized capital of the Company consists of (A) 120,000,000 shares of Common Stock, of which
14,842,578 shares are issued and outstanding, and (B) 60,336,602 shares of Preferred Stock, of which 8,031,402 shares are designated Series A Preferred Stock, 7,971,015 of which are issued and outstanding and are convertible into 7,971,015
shares of Common Stock at $2.07 per share, of which 7,281,554 shares have been designated Series B Preferred Stock, all of which are issued and outstanding and are convertible into 7,281,554 shares of Common Stock at $4.12 per share, of which
15,023,646 shares have been designated Series C Preferred Stock, all of which are issued and outstanding and are convertible into 15,023,646 shares of Common Stock at $7.6546 per share, and of which 30,000,000 shares have been designated Series D
Preferred Stock, 25,766,865 of which are issued and outstanding and are convertible into 25,766,865 shares of Common Stock at $6.7246 per share. 
 (ii) The Company has reserved 15,370,000 shares of Common Stock for issuance under its Stock Plan, under which 14, 652, 645 options are outstanding. Except for (i) the conversion privileges of each
series of the Preferred Stock, (ii) the rights provided in the Rights Agreement, (iii) outstanding options issued pursuant to the Stock Plan and (iv) warrants to purchase 60,387 shares of Series A Preferred Stock, there are no other
options, warrants, 

  
 6 

 
conversion privileges or other rights presently outstanding to purchase or otherwise acquire any authorized but unissued shares of the Company’s capital stock or other securities of the
Company. 
 (iii) Except as set forth in the Rights Agreement, no stockholder of the Company has preemptive
rights to purchase new issuances of the Company’s capital stock. 
 (e) Insurance. The Company has in full force and
effect insurance policies, with extended coverage, insuring the Company and its property and business against such losses and risks, and in such amounts, as are customary for corporations engaged in a similar business and similarly situated and as
otherwise may be required pursuant to the terms of any other contract or agreement. 
 (f) Other Commitments to Register
Securities. Except as set forth in this Agreement and the Rights Agreement, the Company is not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding
securities or any of its securities which may hereafter be issued. 
 (g) Exempt Transaction. Subject to the accuracy of
the Warrantholder’s representations in Section 10 and subject to the filing of notices pursuant to Regulation D under the Act and any filing required by applicable state securities law, which filings will be effective by the time required
thereby, the issuance of the Preferred Stock upon exercise of this Agreement, and the issuance of the Common Stock upon conversion of the Preferred Stock, will each constitute a transaction exempt from (i) the registration requirements of
Section 5 of the Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws. 
 (h) Compliance with Rule 144. If the Warrantholder proposes to sell Preferred Stock issuable upon the exercise of this Agreement, or the Common Stock into which it is convertible, in compliance
with Rule 144 promulgated by the SEC, then, upon Warrantholder’s written request to the Company, the Company shall furnish to the Warrantholder, within ten business days after receipt of such request, a written statement confirming the
Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may be amended from time to time. 
 (i) Information Rights. During the term of this Warrant, Warrantholder shall be entitled to receive: (i) within 60 days after the end of each quarter of each fiscal year, the balance sheets of
the Company as at the end of such quarter and the related (and with respect to statements of income) statements of income, stockholders’ equity and cash flows of the Company for such quarter and for the period from the beginning of the then
current fiscal year to the end of such quarter; (ii) within 120 days after the end of each fiscal year, the consolidated and consolidating balance sheets of the Company and its Subsidiaries as at the end of such fiscal year and the related
consolidated (and with respect to statements of income, consolidating) statements of income, stockholders’ equity and cash flows of the Company and its Subsidiaries for such fiscal year, and with respect to such consolidated financial
statements a report thereon of an independent certified public accountants of recognized national standing selected by the Company; and (iii) within 30 days after the end of each quarter of each fiscal year, a capitalization table. 

SECTION 10. REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 

This Agreement has been entered into by the Company in reliance upon the following representations and covenants of the Warrantholder:

 (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock issuable upon exercise of the
Warrantholder’s rights contained herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Warrantholder has no present intention of selling or engaging in any public distribution of the
same except pursuant to a registration or exemption. 
 (b) Private Issue. The Warrantholder understands (i) that
the Preferred Stock issuable upon exercise of this Agreement is not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Agreement will be exempt from the registration and
qualifications requirements thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 10. 

  
 7 

 (c) Financial Risk. The Warrantholder has such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 
 (d) Risk of No Registration. The Warrantholder understands that if the Company does not register with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934
Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement covering the securities under the Act is not in effect when it desires to sell (i) the rights to purchase Preferred Stock pursuant to
this Agreement or (ii) the Preferred Stock issuable upon exercise of the right to purchase, it may be required to hold such securities for an indefinite period. The Warrantholder also understands that any sale of (A) its rights hereunder
to purchase Preferred Stock or (B) Preferred Stock issued or issuable hereunder which might be made by it in reliance upon Rule 144 under the Act may be made only in accordance with the terms and conditions of that Rule. 

(e) Accredited Investor. Warrantholder is an “accredited investor” within the meaning of the Securities and Exchange
Rule 501 of Regulation D, as presently in effect. 
 (f) Legends. Warrantholder understands that the Preferred Stock, and
any securities issued in respect thereof or exchange therefor, may bear one or all of the following legends: 

(i) “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL
(WHICH MAY BE THE COMPANY’S IN-HOUSE COUNSEL) IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.” 

(ii) Any legend required by the Blue Sky laws of any state to the extent such laws are applicable to the shares
represented by the certificate so legended. 
 SECTION 11. TRANSFERS. 

Subject to compliance with applicable federal and state securities laws, this Agreement and all rights hereunder are transferable, in
whole or in part, without charge to the holder hereof (except for transfer taxes) upon surrender of this Agreement properly endorsed. Each taker and holder of this Agreement, by taking or holding the same, consents and agrees that this Agreement,
when endorsed in blank, shall be deemed negotiable, and that the holder hereof, when this Agreement shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other persons dealing with
this Agreement as the absolute owner hereof for any purpose and as the person entitled to exercise the rights represented by this Agreement. The transfer of this Agreement shall be recorded on the books of the Company upon receipt by the Company of
a notice of transfer in the form attached hereto as Exhibit III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. Until
the Company receives such Transfer Notice, the Company may treat the registered owner hereof as the owner for all purposes. 

SECTION 12. MISCELLANEOUS. 
 (a) Effective Date. The provisions of this Agreement shall be construed and shall be given effect in all respects as if it had been executed and delivered by the Company on the date hereof. This
Agreement shall be binding upon any successors or assigns of the Company. 
 (b) Remedies. In the event of any default
hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific
performance for any default where Warrantholder will not have an adequate remedy at law and where damages will not be readily ascertainable. The Company shall not oppose an application by the Warrantholder or any other person entitled to the benefit
of this Agreement requiring specific performance of any or all provisions hereof or enjoining the Company from continuing to commit any such breach of this Agreement. The 

  
 8 

 
parties hereto hereby declare that it is impossible to measure in money the damages which will accrue to Warrantholder by reason of the Company’s failure to perform any of the obligations
under this Agreement and agree that the terms of this Agreement shall be specifically enforceable by Warrrantholder. If Warrantholder institutes any action or proceeding to specifically enforce the provisions hereof, any person against whom such
action or proceeding is brought hereby waives the claim or defense therein that Warrantholder has an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists.

 (c) No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or
seek to avoid the observance or performance of any of the terms of this Agreement, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to
protect the rights of the Warrantholder against impairment. 
 (d) Attorney’s Fees. In any litigation, arbitration
or court proceeding between the Company and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Agreement. For the purposes of this
Section 12(D), attorneys’ fees shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery; (iii) any motion, proceeding or other activity of any kind in
connection with an insolvency proceeding; (iv) garnishment, levy, and debtor and third party examinations; and (v) post-judgment motions and proceedings of any kind, including without limitation any activity taken to collect or enforce any
judgment. 
 (e) Severability. In the event any one or more of the provisions of this Agreement shall for any reason be
held invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which
comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision. 
 (f) Notices.
Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication that is required, contemplated, or permitted under this Agreement or with respect to the subject matter
hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery if transmission or delivery occurs on a business day at
or before 5:00 pm in the time zone of the recipient, or, if transmission or delivery occurs on a non-business day or after such time, the first business day thereafter, or the first business day after deposit with an overnight express service or
overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid, and shall be addressed to the party to be notified as follows: 

If to Warrantholder: 
 HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 
 Legal Department 

Attention: Chief Legal Officer and Manuel Henriquez 
 400 Hamilton Avenue, Suite 310 
 Palo Alto, CA 94301 

Facsimile: 650-473-9194 
 Telephone: 650-289-3060 
 (i) If to the Company: 

BrightSource Energy, Inc. 
 Attention: General Counsel 
 1999 Harrison Street, Suite 2150 

Oakland, CA 94612 
 Facsimile: 510-550-8161 
 Telephone: 510-550-8165 

  
 9 

 or to such other address as each party may designate for itself by like notice. 

(g) Entire Agreement; Amendments. This Agreement constitute the entire agreement and understanding of the parties hereto in
respect of the subject matter hereof, and supersede and replace in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof. None of
the terms of this Agreement may be amended except by an instrument executed by each of the parties hereto. 
 (h)
Headings. The various headings in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this Agreement or any provisions hereof. 

(i) No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Agreement. 
 (j) No Waiver. No omission or delay by Warrantholder at any time to
enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by the Company at any time designated, shall be a waiver of any such right or remedy to which Warrantholder is entitled, nor
shall it in any way affect the right of Warrantholder to enforce such provisions thereafter. 
 (k) Survival. All
agreements, representations and warranties contained in this Agreement or in any document delivered pursuant hereto shall be for the benefit of Warrantholder and shall survive the execution and delivery of this Agreement and the expiration or other
termination of this Agreement. 
 (l) Governing Law. This Agreement have been negotiated and delivered to Warrantholder
in the State of California, and shall have been accepted by Warrantholder in the State of California. Delivery of Preferred Stock to Warrantholder by the Company under this Agreement is due in the State of California. This Agreement shall be
governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

(m) Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement may be brought in
any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in Santa Clara County,
State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and
(d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance
with the requirements for notice set forth in Section 12(f), and shall be deemed effective and received as set forth in Section 12(f). Nothing herein shall affect the right to serve process in any other manner permitted by law or shall
limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 (n) Mutual Waiver of Jury
Trial. Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than
arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE COMPANY AND WARRANTHOLDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM,
CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY THE COMPANY AGAINST WARRANTHOLDER OR ITS ASSIGNEE OR BY WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such
Claims, including Claims that involve Persons other than the Company and Warrantholder; Claims that arise out of or are in any way connected to the relationship between the Company and Warrantholder; and any Claims for damages, breach of contract,
specific performance, or any equitable or legal relief of any kind, arising out of this Agreement. 

  
 10 

 (o) Arbitration. If the waiver of jury trial set forth in Section 11.10(a) is
ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties
cannot agree, a referee selected by the Presiding Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding.

 (p) Prejudgment Relief. In the event Claims are to be resolved by judicial reference, either party may seek from a
court identified above, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 (q) Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be
executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument.

 [Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by its
officers thereunto duly authorized as of the Effective Date. 
  

									
		 	COMPANY:	 		 	BRIGHTSOURCE ENERGY, INC.
					
		 		 		 	By:	 	/s/ John Woolard
		 		 		 		 	John Woolard
		 		 		 		 	President and Chief Executive Officer
				
		 	WARRANTHOLDER:	 		 	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
					
		 		 		 	By:	 	/s/ K. Nicholas Martitsch
		 		 		 	Name:	 	K. Nicholas Martitsch
		 		 		 	Title:	 	Associate General Counsel

  
 12 

 EXHIBIT I 
 NOTICE OF EXERCISE 
  

	To:	BrightSource Energy, Inc. 

  

	(1)	The undersigned Warrantholder hereby elects to purchase [                ] shares
of the Series [    ] Preferred Stock of BrightSource Energy, Inc., pursuant to the terms of the Agreement dated the [        ] day of
[            ], 2010 (the “Agreement”) between BrightSource Energy, Inc. and the Warrantholder, and [CASH PAYMENT: tenders herewith payment of the Purchase Price in full,
together with all applicable transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Agreement to effect a Net Issuance.] 

  

	(2)	Please issue a certificate or certificates representing said shares of Series [    ] Preferred Stock in the name of the undersigned or in
such other name as is specified below. 

  

	(3)	The undersigned acknowledges that it has reviewed the representations and warranties contained in Section 10 of the Agreement and by its signature below hereby
makes such representations and warranties to the Company. 

  

	(4)	The undersigned further acknowledges that it has reviewed the provisions set forth in Section 1.14 of the Rights Agreement and agrees to be bound by such
provisions. 

  

	
	  
	(Name)
	  
	(Address)

  

									
		 	WARRANTHOLDER:	 		 	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
					
		 		 		 	By:	 	 
		 		 		 	Title:	 	 
		 		 		 	Date:	 	 

  
 13 

 EXHIBIT II 
 ACKNOWLEDGMENT OF EXERCISE 
 The undersigned BrightSource Energy, Inc., hereby acknowledge receipt
of the “Notice of Exercise” from Hercules Technology Growth Capital, Inc., to purchase [            ] shares of the Series [    ] Preferred Stock
of BrightSource Energy, Inc., pursuant to the terms of the Agreement, and further acknowledges that [            ] shares remain subject to purchase under the terms of the Agreement.

  

									
		 	COMPANY:	 		 	BRIGHTSOURCE ENERGY, INC.
					
		 		 		 	By:	 	 
		 		 		 	Title:	 	 
		 		 		 	Date:	 	 

  
 14 

 EXHIBIT III 
 TRANSFER NOTICE 
 (To transfer or assign the foregoing Agreement execute this form and supply
required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the foregoing Agreement and all rights evidenced thereby
are hereby transferred and assigned to 
  

			
	 	  	
	(Please Print)	  	
		  	
	whose address is
                                         
                                      	  	
		  	
	    	  	

  

	(1)	The undersigned acknowledges that it has reviewed the representations and warranties contained in Section 10 of the Agreement and by its signature below hereby
makes such representations and warranties to the Company. 

  

	(2)	The undersigned further acknowledges that it has reviewed the provisions set forth in Section 1.14 of the Rights Agreement and agrees to be bound by such
provisions. 

  

	
	Dated:
                                         
               
	
	Holder’s Signature:
                                         
           
	
	Holder’s Address:
                                         
           
	
	                             
                                         
                  

  
 15

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