Document:

Document

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both not material and would likely cause competitive harm to the Company if publicly disclosed.

Exhibit 10.2

Amendment No. 5
to
Master Supply Agreement 

This Amendment No. 5 to Master Supply Agreement (the “Amendment”), is entered into as of July 6, 2022 (the “Amendment Effective Date”) by and between SunPower Corporation, a Delaware corporation with offices at 51 Rio Robles, San Jose, California 95134 (“SunPower”), and Enphase Energy, Inc., a Delaware corporation with offices at 47281 Bayside Parkway, Fremont, California 94538 (formerly at 1420 N. McDowell Blvd., Petaluma, CA 94954) (“Enphase”), and amends that certain Master Supply Agreement dated June 12, 2018 (as previously amended, the “MSA”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the MSA.

WHEREAS, SunPower desires to purchase Enphase IQ7HS microinverters with a metal bracket for pairing with third party modules used in SunPower PV systems; and

WHEREAS, Enphase wishes to sell such microinverter products to SunPower solely for use in SunPower systems, all pursuant to the MSA as amended by this Amendment.

NOW, THEREFORE, for adequate consideration, the receipt of which is hereby acknowledged, and notwithstanding any other language in the MSA, the Parties agree to the following:

1.Covered Products. For purposes of this Amendment, “Covered Products” means IQ7HS discrete microinverter with metal bracket. Covered Products does not include any other Products supplied under the terms of the MSA.  The applicable data sheet for the  Covered Products is attached hereto as Exhibit A-5. Except as specifically set forth in this Amendment, the Covered Products shall be treated as “Products” under the MSA, and Exhibit A to the MSA is hereby amended to add the Covered Products to the list of Products in that Exhibit A.

2.Development; Manufacturing. Following execution of this Amendment, Enphase shall commence development of the Covered Products and will use commercially reasonable efforts to commence manufacture and supply of the Covered Products for delivery from Enphase’s (i) [*] manufacturing facility on or before [*]; and (ii) its [*] facility on or before [*].

3.Purchase & Sale Commitments. SunPower shall purchase, and Enphase shall supply, the minimum annual commitment of Covered Products set forth in Exhibit B-5, attached hereto and incorporated by reference (the “Minimum Purchase Commitment”). For the avoidance of doubt, this Exhibit B-5 shall apply solely to the Covered Products made available under this Amendment and, except as expressly set forth herein, shall in no way modify any pricing exhibits previously agreed upon in previous amendments to the MSA with respect to non-Covered Products. Further, purchases of Covered Products hereunder will apply towards: (i) the Total Purchase Commitment,  (ii) Minimum Annual Commitment set forth in Sections 2.3 (Purchase and Sale Commitment) of the MSA, or (iii) the Volume Based Adjustment set forth in Exhibit B to the MSA.  If SunPower fails to purchase the Minimum Purchase Commitment of Covered Products as set forth herein in 2022, then on or before February 1 of 2023, SunPower shall pay Enphase an amount equal to [*] for each Covered Product in the resulting shortfall. 

4.Delivery Lead Time. Delivery Lead Time for the Covered Product is [*] weeks.

5.Pricing. The price for the Covered Product is set forth in Exhibit B-5 (the “Base Price”). 

6.Term; Termination. This Amendment commences on the Amendment Effective Date and shall continue through the Initial Term and any Renewal Terms of the MSA. If the Agreement is terminated for any reason other than an Event of Default by Enphase, and SunPower has failed to purchase the total purchase commitment set forth in Exhibit B-5, then within 45 days of the effective date of termination SunPower shall pay Enphase [*] for each Covered Product in the resulting shortfall.

7.Module Pairing; System Installations. SunPower is permitted to pair the Covered Products with any module that meets Enphase’s published specifications for compatibility with the Covered Products (“Compatible Modules”). No additional qualification of individual modules shall be required in order for SunPower to use the Covered Products with a Compatible Module. If a Covered Product or Compatible Module is installed in a solar energy system, all of the other microinverters installed in such system must be IQ7HS microinverters and all the other modules installed in such system must utilize IQ7HS microinverters.

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both not material and would likely cause competitive harm to the Company if publicly disclosed.

Exhibit 10.2

8.Resale. SunPower shall use the Covered Products solely paired with (i) new third-party modules for use in SunPower system installations and for no other purpose; or (ii) as a replacement for another Covered Product or an IQ7HS ACM unit. In no event will SunPower resell the Covered Products as stand-alone items or pair the Covered Products with modules previously paired with a non-Covered Product or non-IQ7HS ACM units.

9.Installation Requirements. SunPower shall ensure that all installations of the Covered Products comply with the Quick Install Guide and the Enphase Documentation for the Covered Products, which are attached hereto as Exhibit C-5.

10.Shipping & Delivery. Covered Products will be delivered F.C.A. (Incoterms 2010) Enphase’s plant or shipping point designated by Enphase, at which point the following will pass from Enphase to SunPower: (i) title to the Covered Products (other than the Embedded Software) and (ii) risk of loss. Section 3.3 (Extraordinary Transportation for Late Deliveries) of the MSA shall not apply to the Covered Products.
 
11.Data Sharing. The data sharing provisions set forth in Section 5.d and Attachment D-1 of Amendment No. 3 to the MSA (dated October 1, 2019) are hereby amended as follows:
i.[*]  
ii.[*]
1.[*] 
2.[*]
3.[*]
iii.[*]

12.Full Force and Effect. Except as expressly set forth herein, the terms and provisions of the MSA remain in full force and effect. Nothing contained in this Amendment shall in any way impair the validity or enforceability of the MSA, as modified hereby, or alter, waive, annul, vary, affect, or impair any provisions, conditions, or covenants contained therein or any rights, powers, or remedies granted therein, except as otherwise specifically provided in this Amendment.

13.Counterparts. This Amendment may be signed originally or by facsimile or other means of electronic transmission in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument. All counterparts shall be deemed an original of this Amendment.

14.Integration. This Amendment and any documents executed in connection herewith or pursuant hereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment.

15.Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of California, without regard to any conflicts of laws principles.

[Remainder of page intentionally left blank; signatures follow.]

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both not material and would likely cause competitive harm to the Company if publicly disclosed.

Exhibit 10.2

IN WITNESS WHEREOF, the parties have duly authorized and caused this Amendment to be executed as of the Date written below. This Amendment may be signed in counterparts, with the same effect as if each were upon a single instrument.

						
	ENPHASE ENERGY, INC.

By:      /s/ Mandy Yang            

Name:    Mandy Yang            

Title:    Chief Financial Officer        
                    
Date:    7/6/2022                
	SUNPOWER CORPORATION

By:     /s/ Jeff Cyan            

Name:    Jeff Cyan            

Title:    VP Supply Chain            
                    
Date:    7/8/2022                

Attachments: 

Exhibit A-5 – Enphase IQTM7HS Data Sheet
Exhibit B-5 – Covered Product Volumes, Pricing
Exhibit C-5 – Quick Install Guide and Enphase Documentation for the Covered ProductsEX-10.1

 Exhibit 10.1 

REASSIGNMENT NO. 20 OF RECEIVABLES 

IN REMOVED ASSET POOL ONE ACCOUNTS 

REASSIGNMENT NO. 20 OF RECEIVABLES INCLUDED IN ASSET POOL ONE (this “Reassignment”), dated as of July 25, 2022, by and
between the CHASE ISSUANCE TRUST (the “Issuing Entity” or the “Trust”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Collateral Agent”), pursuant to the Asset Pool One Supplement referred to
below. 
 W I T N E S S E T H: 

WHEREAS, the Trust and the Collateral Agent are parties to the Third Amended and Restated Asset Pool One Supplement, dated as of
January 20, 2016 (hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Asset Pool One Supplement”); 

WHEREAS, pursuant to the Asset Pool One Supplement, the Trust wishes to remove from Asset Pool One all Asset Pool One Receivables in certain
designated Asset Pool One Accounts identified on Schedule 1 to this Reassignment (the “Removed Asset Pool One Accounts”) and to cause the Collateral Agent to reassign the Asset Pool One Receivables of such Removed Asset Pool One
Accounts, whether now existing or hereafter created, from the Collateral Agent to the Trust; and 
 WHEREAS, the Collateral Agent is willing
to accept such designation and to reassign the Asset Pool One Receivables in the Removed Asset Pool One Accounts subject to the terms and conditions hereof; 

NOW, THEREFORE, the Trust and the Collateral Agent hereby agree as follows: 

1. Defined Terms. All terms defined in the Asset Pool One Supplement and used herein shall have such defined meanings when used herein,
unless otherwise defined herein. 
 “Removal Cut-Off Date” shall mean, with respect
to the Removed Asset Pool One Accounts designated hereby, June 30, 2022. 
 “Removal Date” shall mean, with respect to
the Removed Asset Pool One Accounts designated hereby, July 25, 2022. 
 “Removal Notice Date” shall mean, with
respect to the Removed Asset Pool One Accounts, July 18, 2022. 
 2. Designation of Removed Asset Pool One Accounts. No later
than five Business Days after the Removal Date, or as otherwise agreed upon between the Trust and the Collateral Agent, the Trust will deliver to the Collateral Agent an accurate list, based on the computer records of, or kept on behalf of, the
Transferor (in the form of a computer file, microfiche list, CD-ROM or such other form as is agreed upon between the Transferor and the Collateral Agent) of all Removed Asset Pool One Accounts, identified by
account number and the aggregate amount of Asset Pool One Principal Receivables in each Removed Asset Pool One Account as of the Removal Cut-Off Date, which list shall, as of the Removal Date, modify and amend
and be incorporated into and made a part of this Reassignment and the Asset Pool One Supplement. 
  

 3. Reassignment of Receivables. The Collateral Agent does hereby reassign to the
Trust, without recourse, on and after the Removal Date, all right, title and interest of the Collateral Agent in, to and under the Asset Pool One Receivables now existing and hereafter created from time to time in the Removed Asset Pool One
Accounts, all Interchange and Recoveries related thereto, all monies due or to become due (including all Asset Pool One Finance Charge Receivables) and all amounts received or receivable with respect thereto and all proceeds (as defined in the UCC
as in effect in the applicable jurisdiction) thereof (the “Removed Collateral”). 
 4. Conditions Precedent. The
reassignment hereunder of the Asset Pool One Receivables in the Removed Asset Pool One Accounts and the amendment of the Asset Pool One Supplement pursuant to Section 7 of this Reassignment are each subject to the satisfaction, on or prior to
the Removal Date, of the conditions set forth in subsection 2.5(b) of the Asset Pool One Supplement. 
 5. Representations and
Warranties. The Trust hereby represents and warrants to the Collateral Agent as of the Removal Date that: 
 (a) Legal, Valid and
Binding Obligation. This Reassignment constitutes a legal, valid and binding obligation of the Trust enforceable against the Trust, in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors’ rights in general and the rights of creditors of national banking associations and except as such enforceability may be limited
by general principles of equity (whether considered in a suit at law or in equity); and 
 (b) List of Removed Accounts. The list of
Removed Asset Pool One Accounts delivered pursuant to subsection 2.5(b)(ii) of the Asset Pool One Supplement, as of the Removal Date, is accurate in all material respects. 

6. Representations and Warranties of the Servicer. No selection procedures believed by the Servicer to be materially adverse to the
interests of the Asset Pool One Noteholders were utilized in selecting the Removed Asset Pool One Accounts to be removed from the Trust and (I) a random selection procedure was used by the Servicer in selecting the Removed Asset Pool One
Accounts and only one such removal of randomly selected Accounts shall occur in the then current Monthly Period, (II) the Removed Asset Pool One Accounts arose pursuant to an affinity, private-label, agent-bank,
co-branding or other arrangement with a third party that has been cancelled by such third party or has expired without renewal and which by its terms permits the third party to repurchase the Removed Asset
Pool One Accounts subject to such arrangement, upon such cancellation or non-renewal and the third party has exercised such repurchase right or (III) the Removed Asset Pool One Accounts were selected
using another method that will not preclude transfers from satisfying the conditions for sale accounting treatment under generally accepted accounting principles in effect for reporting periods before November 15, 2009. 

  
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 7. Amendment of the Asset Pool One Supplement. The Asset Pool One Supplement is
hereby amended to provide that all references therein to the “Asset Pool One Supplement,” to “this Asset Pool One Supplement” and to “herein” shall be deemed from and after the Removal Date to be a dual reference to the
Asset Pool One Supplement as supplemented by this Reassignment. All references therein to the Asset Pool One Accounts shall be deemed not to include the Removed Asset Pool One Accounts designated hereunder and all references to Asset Pool One
Receivables shall be deemed not to include the Asset Pool One Receivables reassigned hereunder. Except as expressly amended hereby, all of the representations, warranties, terms, covenants and conditions of the Asset Pool One Supplement shall remain
unamended and shall continue to be, and shall remain, in full force and effect in accordance with its terms and except as expressly provided herein shall not constitute or be deemed to constitute a waiver of compliance with or a consent to
noncompliance with any term or provision of the Asset Pool One Supplement. 
 8. Release. 

(a) The Collateral Agent hereby expressly terminates, relinquishes, releases, discharges and renders ineffective any and all security
interests, liens, mortgages and encumbrances, as against the Trust, any transferee of the Trust and any person claiming title to or an interest in the Removed Collateral through any such person, or any successor or assign of any of the foregoing
(all such persons and entities being referred to individually as a “Transferee” and collectively as the “Transferees”), any and all right, title, benefit, interest or claim whatsoever, present or future, actual or
contingent (collectively, “Rights”), owned or held by the Collateral Agent to, against or in respect of the Removed Collateral. 

(b) In case any provision of this Reassignment shall be rendered invalid, illegal or unenforceable in any jurisdiction, the Collateral Agent
hereby acknowledges that its interest in the Removed Collateral is subordinate and junior to the security interest of any Transferee and hereby expressly agrees that any security interest it may have in any Removed Collateral is and shall remain
subordinate and junior to all security interests granted by a Transferee, regardless of the time of the recording, perfection or filing thereof or with respect thereto. 

(c) The Collateral Agent acknowledges and agrees that the Transferees and their representatives are expressly entitled to rely on the
provisions of this Section 8, it being the intent of the Collateral Agent that the Transferees will acquire title to the Removed Collateral purchased by them free of any Rights owned or held by the Collateral Agent to, against or in respect of
the Removed Collateral. 
 9. Counterparts. This Reassignment may be executed in two or more counterparts, and by different parties
on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 
 10.
GOVERNING LAW. THIS REASSIGNMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 3 

 11. Authorization. The Collateral Agent hereby authorizes the Trust, or any agent
designated by the Trust, to file any financing statements or continuation statements, and amendments to financing statements, in any jurisdictions and with any filing offices as the Trust may determine, in its sole discretion, are necessary or
advisable to reflect the reassignment to the Trust pursuant to Section 3 hereof. Such financing statements may describe the collateral in the same manner as described herein or may contain an indication or description of collateral that
describes such property in any other manner as the Trust may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the collateral granted to the Trust in connection herewith,
including, without limitation, describing such property as “all assets” or “all personal property.” 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 
  

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Reassignment to be duly executed by
their respective officers as of the day and year first above written. 
  

					
	CHASE ISSUANCE TRUST
	
	By: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrator
		
	By:	 	 /s/ Maria L. Sarcone

		 	Name:	 	Maria L. Sarcone
		 	Title:	 	Executive Director
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	COMPUTERSHARE TRUST
		 	COMPANY, N.A., as agent
		
	By:	 	 /s/ Susan B. Wright

		 	Name:	 	Susan B. Wright
		 	Title:	 	Assistant Vice President

 CHASE ISSUANCE TRUST 

Reassignment No. 20 (APO) 

 Schedule 1 to 

Reassignment No. 20 
 of
Receivables 
 REMOVED ASSET POOL ONE ACCOUNTS 

[Delivered to the Collateral Agent]

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