Document:

Flextronics Logistics Services Agreement

 Exhibit 10.17 
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES
ACT OF 1933, AS AMENDED. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 Flextronics
Logistics Services Agreement 
 This Logistics Services Agreement (“Agreement”) is entered into this 1st day of
May 2009 (the “Effective Date”), by and between Enphase Energy, Inc. having its place of business at 201 lst Street, Suite 300, Petaluma, CA 94952 (“Customer”) and Flextronics America, LLC having a place of business
at 260 South Milpitas Blvd, Milpitas, California 95035 (“Flextronics”). 
 The Customer has entered into an
ongoing sales agreement with its customers (the “Purchaser”) for the sale by Customer of certain goods. Flextronics has developed processes and practices for the purchasing, receipt, kitting, storage, and movement including the
management of transportation of goods and the provision of visibility into the status of the supply of such goods through electronic communications and otherwise. The Customer desires to engage Flextronics to perform logistics services, including
storing Customer’s goods and value-added logistics services at locations managed by Flextronics (the “Services”). Customer acknowledges that Flextronics’s expertise is in providing these Services and that
Flextronics’s responsibility related to the Customer’s goods is limited to this extent. 
  

	1.	SERVICES 

 Flextronics
will perform the Services as set forth in Exhibit A to this Agreement with regard to the goods identified on Exhibit B to this Agreement (the “Goods”). Any Services related to the management and storage of Goods will
be provided at Flextronics facilities situated at the locations identified in Exhibit A (each a “Flextronics Facility”). Flextronics shall perform the Services in a professional manner in accordance with the Customer’s
instructions, using a commercially reasonable degree of diligence, care and skill. 
  

	2.	TERM AND TERMINATION 

2.1. Term. The term of this Agreement shall commence on the Effective Date and shall continue for one (1) year
thereafter until terminated as provided in Section 2.2 or 8.8. After the expiration of the initial term hereunder (unless this Agreement has been terminated), this Agreement shall be automatically renewed for separate but successive one-year
terms unless either party provides written notice to the other prior to the date that is ninety (90) days prior to the end of any term that it does not intend to renew this Agreement. 

2.2. Termination. This Agreement may be terminated by either party (a) for any reason upon ninety
(90) days written notice to the other party, or (b) if the other party defaults in the performance of any material term or condition of this Agreement (including defaulting in any payment due) and such default continues unresolved for a
period of thirty (30) days after the delivery of written notice thereof by the terminating party to the other party, or (c) pursuant to Section 8.8 below. Expiration or termination of this Agreement under any of the foregoing
provisions shall not affect the amounts due under this Agreement by either party that exist as of the date of expiration or termination. Except as provided in Section 7, termination of this Agreement and settling of accounts shall be the
exclusive remedy of the parties for breach of this Agreement. 
 2.3. Consequences of Termination. Upon
payment of all sums due under this specific agreement, the Customer shall remove the Goods from the Facility within five (5) business days of the date of termination. Notwithstanding termination or expiration of this Agreement, Sections 2.3,
3.4(b) and (c), 7 and 8 shall survive the termination or expiration of this Agreement, In addition, the obligation to pay any amounts due or which may become due as a result of termination shall survive. 

 

	3.	CHARGES AND PAYMENT TERMS 

3.1. Charges. In consideration for the Services, Customer will pay Flextronics the charges set forth in Exhibit C.
The charges may be increased or decreased by Flextronics as part of the quarterly cost review if (a) the market price of equipment, labor or other costs related to the provision of the Services, increase or decrease beyond normal

 
variations in pricing as demonstrated by Flextronics or identified during the quarterly cost review, and (b) the parties agree to the increase or decrease. At either party’s request,
the parties will meet and review the charges. Any changes to the charges, including the effective date such changes, shall be agreed to in writing by the parties. 
 3.2. Taxes and Duties. Unless otherwise agreed to by the parties in Exhibit C all charges quoted are exclusive of federal, state and local excise, sales, use and similar taxes,
and any duties, and Customer shall be responsible for all such items. 
 3.3. Payment. Payment for any charges or
other cost to be paid by Customer hereunder is due [***] days net from the date of invoice and shall be made in lawful U.S. currency. Customer agrees to pay one and one- half percent (1.5%) monthly interest on all late payments. All
payments shall be made without any deductions or set- off of any amounts due. 
 3.4. Additional Terms Related to
Payment. 
 (a) Prepayment: Stop Work. If Customer is late with payments under this specific agreement, or
Flextronics has reasonable cause to believe Customer may not be able to pay, Flextronics may require prepayment or delay shipments or suspend work until assurances of payment satisfactory to Flextronics are received. Customer agrees to provide all
necessary financial information required by Flextronics from time to time in order to make a proper assessment of the creditworthiness of Customer. 
 (b) Retention and Lien Rights. In addition to (a) above, Flextronics shall have the right without prejudice to its other rights and remedies against the Customer to retain, as of the
date of the written notice, to retain the Goods the wholesale value of which is roughly equivalent to the amount of all sums due from Customer under this specific agreement, at the Customer’s expense and risk. Prior to exercising these
retention and lien rights, Flextronics will notify Customer that it has exercised these rights and that Customer has thirty (30) days from date of the notice to pay the outstanding amounts. Any storage charges described in Exhibit C
shall continue to accrue on any Goods detained in accordance with this subsection (b). Flextronics will release the retained Goods immediately upon receipt of the amounts due if Customer makes payment within the thirty (30) day period. If
Customer does not pay within the thirty (30) day period, Flextronics, without prejudice to its other rights and remedies against the Customer, shall be entitled to sell or otherwise dispose of the retained goods at the Customer’s sole risk
and expense by a commercially reasonable method, and the proceeds of any sale or disposal shall be remitted to the Customer after deduction there from of all expenses and all amounts due to Flextronics from Customer on any account. 

(c) Letter of Credit. Within forty-five (45) days of Flextronics’s request during the term of this Agreement, Customer
agrees to obtain and maintain a stand-by letter of credit (LOC) on behalf of Flextronics to minimize the financial risk to Flextronics for its performance of the Services under this Agreement, The LOC shall be for a minimum period of time of three
(3) months and shall be for a total amount that is equal to the total value of the risks associated with the accounts receivable from Customer for this specific agreement. The calculation shall be based upon the average monthly Customer
accounts receivable for the prior three (3) months. The drawdown procedures under the LOC shall be determined solely by Flextronics. Flextronics will, in good faith, review Customer’s creditworthiness periodically and may provide more
favorable terms once it feels it is prudent to do so. In addition, Flextronics agrees that no letter of credit shall be required from Customer as long as Customer has promptly paid all invoices in accordance with section 3.3 above. 

 

	4.	TITLE TO GOODS AND RISK OF LOSS: INSPECTION 

 Unless otherwise mutually agreed to by the parties in writing, Flextronics shall never take title to the Goods. Flextronics’s sole liability for risk of loss is as set forth in Section 7.1
below. Customer will hold title to the Goods and shall bear risk of loss while the Goods are under Flextronics’s care, control and custody. Upon twenty-four (24) hours’ prior notice, Customer will have the right to enter and access
any Flextronics Facility where the Goods are located during normal business hours to verify Flextronics’ compliance with this Agreement. Customer may 

  
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perform an inspection, inventory, or quality review of the Goods at the Flextronics Facility. No charge will be made for any such visits. 

 

	5.	INSURANCE 

 5.1.
Customer’s Obligations. Customer will insure the full value of the Goods against all risks while they are under Flextronics’s care, control and custody. 

5.2. Flextronics’s Obligations. Flextronics shall, at its own expense, provide and keep in full force and
effect during the term of this Agreement at least the following kinds of insurance covering the Services: Worker’s Compensation Insurance; Commercial General Liability Insurance; Comprehensive Automobile Liability Insurance (including, property
damage for owned, non-owned, and hired vehicles used by Flextronics while performing the Services in connection with this Agreement. Flextronics will not provide, or obtain on behalf of Customer, any insurance on the Goods. Flextronics shall be
liable, however, for any damage to the Goods caused by Flextronics’s employees’ negligence in handling. 
  

	6.	WARRANTIES 

 6.1.
Owner of the Goods. The Customer warrants that it is either the owner or the authorized agent of the owner of the Goods and that it is accepting the terms and conditions of this Agreement for itself and as agent for and on behalf of the
owner. 
 6.2. Description of the Goods. The Customer warrants that the description and particulars of any
goods furnished by or on behalf of the Customer to Flextronics are true, correct and complete. 
 6.3. Condition of the
Goods. Flextronics warrants that it will properly inspect the shipment (outer boxes and pallets only) of all Goods, whether manufactured by Flextronics or a third party, upon arrival and verify that it is in suitable condition for
storage at Flextronics’s facility and shipment to Customer or Customer’s customers. Flextronics will perform inspection of the non-PCBA product as agreed to by the parties. If Goods are damaged or otherwise not shippable, Flextronics shall
immediately notify Customer. If Flextronics finds damage to a Good that is manufactured by Flextronics, then Flextronics shall notify its manufacturing facility of such damage, in writing. Flextronics shall also ensure that Goods are securely and
properly stowed, labeled and/or marked, and that the preparation, packing, stowage, labeling and marking are appropriate to any operations or transactions affecting the Goods and the characteristics of the Goods, in compliance with any statutory
regulations or official or recognized standards and in such condition as not to cause damage or injury or the likelihood of damage or injury to the Facility or other property (real or personal) of Flextronics or to any other goods, whether by
spreading of damp, infestation, leakage or the escape of fumes or substances or otherwise. 
 6.4. Special
Precautions. The Customer warrants that before presentation of any Customer supplied Goods to Flextronics (or its subcontractor) for warehousing or for collection, the Customer will inform Flextronics in writing of any special
precautions necessitated by the nature, weight or condition of the Goods and of any statutory duties specific to the Goods with which Flextronics may need to comply. In addition, The Customer warrants that unless prior to receipt of the Goods by
Flextronics, Flextronics receives written notice containing all appropriate information, none of the Goods are or contain substances the storage which would require the obtaining of any consent or license or which, if they escaped from their
packaging, would or may cause pollution of the environment or harm to human health. 
 6.5. Flextronics
Warranties. Flextronics warrants that (i) Flextronics will warehouse, store, and handle the Goods in a safe and secure storage area with due care; (ii) all Services will be performed promptly, in a competent and professional
manner in accordance with industry standards; and (iii) Flextronics will use commercially reasonable efforts to prevent any theft or damage to the Goods. 
  

	7.	LIABILITY AND INDEMNIFICATION 

 7.1. Flextronics’s Liability and Indemnification of Customer. 
 (a) Flextronics Liability and Certain Limitations. Except as described below in Section 7.1.b through 7.1.d, Flextronics shall not be liable for any loss or damage which is discovered
after Customer has accepted 

  
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the Goods without noting tampering, damage or loss nor shall Flextronics be liable for any loss or damage to the Goods while they are under Flextronics’s care, custody and control, including
without limitation any deterioration of the Goods, any delay or any failure to comply with Customer’s instructions, however caused. 
 (b) Flextronics will maintain a minimum of [***]% inventory accuracy (by dollar value of inventory). Any shortages beyond [***]% in any given period shall be the responsibility of
Flextronics unless the shortages are the direct result of actions of the Customer. Shortages up to [***]% will be the responsibility of the Customer except to the extent that such shortages arise as a result of Flextronics negligence or
willful misconduct or breach of this Agreement. 
 (c) Any claims made to Flextronics as a result of inventory losses in any
given twelve month period may not exceed the total amount invoiced to Customer by Flextronics during that same period unless such claims arise as a result of Flextronics gross negligence or willful misconduct. 

(d) Any presumption of conversion imposed by law shall not apply to such loss, and a claim by Customer of conversion must be established
by affirmative evidence that Flextronics converted the Goods to Flextronics’s own use. 
 (e) Procedure for Making
Claims Against Flextronics. 
 (i). Any claim by Customer against Flextronics arising in respect of any Service
provided for Customer or with respect to which Flextronics has undertaken to provide, shall be made in writing and notified to Flextronics within thirty (30) days of the date upon which the Customer became or should have become aware of the
event or occurrence alleged to give rise to such claim, or of the date upon which the Goods have been delivered to or to the use of the Customer, whichever is later. Any claim not made and notified as described herein shall be deemed to be waived
and absolutely barred except where the Customer can show that it was impossible for it to comply with this time limit and that it has made the claim as soon as it was reasonably possible for it to do so. 

(ii). Notwithstanding the provisions of subsection (i) above, Flextronics shall in any event be discharged of all liability
whatsoever howsoever arising in respect of any Service provided for the Customer or which Flextronics has undertaken to provide unless suit be brought and written notice thereof given to Flextronics within nine (9) months from the date of the
event or occurrence alleged to give rise to a cause of action against Flextronics. 
 f Special Goods. 

(i). Except following instructions previously received in writing and accepted by Flextronics, Flextronics will not accept or deal with
goods of a dangerous or damaging nature, nor with goods likely to harbor or encourage vermin or other pests, nor with goods liable to taint or affect other goods (“Special Goods”). Should the Customer nevertheless deliver any such goods to
Flextronics or cause Flextronics to handle or deal with any such goods otherwise than under special arrangements previously made in writing, Flextronics shall be under no liability whatsoever for or in connection with such goods howsoever arising.

 (ii). If Flextronics accepts Special Goods pursuant to a special arrangement and then in the opinion of Flextronics they
constitute a risk to other goods, property, life or health, Flextronics shall where reasonably practicable contact Customer, but reserves the right at the expense of the Customer to remove or otherwise deal with such Special Goods. 

(iii). Flextronics may at any time waive its rights and exemptions from liability under subsection (i) above in respect of any one
or more of the categories of Special Goods mentioned herein or of any part of any category. If such waiver is not in writing, the onus of proving such waiver shall be on the Customer. 

7.2. Customer’s Liability and Indemnification of Flextronics.  

  
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 (a) Customer’s Liability and Certain Limitations. Except as expressly set forth
in Section 7.1 or in this Section 7.2, Customer shall bear all risk of loss or damage to the Goods and any liability for any delay, non-delivery or other failure associated with the activities that are the subject of this Agreement, In
addition, where loss or damage occurs to Goods, for which Flextronics is not liable, the Customer shall be responsible for the cost of removing and disposing of such Goods (including, without limitation any associated environmental clean up or site
remediation costs). 
 (b) Customer’s Indemnification Obligation. Customer shall defend, indemnify and hold
Flextronics, its affiliated companies, officers, directors, employees, and agents (“Flextronics Indemnified Parties”) harmless from any obligations, costs, claims, judgments, losses, expenses and liabilities (including without limitation,
reasonable attorneys fees, duties, taxes, fines, penalties, imposts, levies, deposits and outlays of any nature levied by any authority in relation to the Goods) incurred in connection with any claim or alleged claim by any third party arising as a
result of (i) Flextronics acting in accordance with the Customer’s instructions; (ii) Customer’s breach of any warranty contained in this Agreement; or (iii) Customer’s negligence or willful misconduct. 

7.3. Indemnification Procedure. In the case of a claim for indemnification pursuant to Section 7, the indemnified party shall
notify the indemnitor promptly in writing of any claim and, at the indemnitor’s expense, reasonably cooperate with the indemnitor in the defense and/or settlement of any such claim. 

7.4. NO OTHER LIABILITIES. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INCIDENTAL, CONSEQUENTIAL, SPECIAL
OR PUNITIVE DAMAGES OF ANY KIND OR NATURE ARISING OUT OF THIS AGREEMENT OR THE SALE OF PRODUCTS, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING THE POSSIBILITY OF NEGLIGENCE OR STRICT LIABILITY), OR OTHERWISE, EVEN IF
THE PARTY HAS BEEN WARNED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE, AND EVEN IF ANY OF THE LIMITED REMEDIES IN THIS AGREEMENT FAIL OF THEIR ESSENTIAL PURPOSE. 
  

	8.	MISCELLANEOUS 

 8.1.
Confidentiality. All written information and data exchanged between the parties for the purpose of enabling Flextronics to perform the Services under this Agreement that is marked “Confidential” or the like, shall be deemed to be
Confidential Information. The party that receives such Confidential Information agrees not to disclose it directly or indirectly to any third party without the prior written consent of the disclosing party. Confidential Information disclosed
pursuant to this Agreement shall be maintained confidential for a period of three (3) years after the disclosure thereof. 

8.2. Entire Agreement. 
  

	 	(a)	This Agreement constitutes the entire agreement between the Parties with respect to the transactions contemplated hereby and supersedes all prior agreements and
understandings between the parties relating to such transactions. Each party shall hold the existence and terms of this Agreement confidential, unless the other party obtains express written consent otherwise. In all respects, this Agreement shall
govern, and any other documents including, without limitation, preprinted terms and conditions on Customer’s purchase orders shall be of no effect. This “Agreement will be deemed to have been drafted by both parties.

  

	 	(b)	Notwithstanding the foregoing, either party may disclose the existence and terms of this Agreement if such information is required to be disclosed under applicable law,
including without limitation pursuant to the rules and regulations promulgated by the United States Securities and Exchange Commission. In addition, each party may disclose the existence and terms of this Agreement solely for due diligence purposes
to prospective investors or acquirers. 

 8.3. Amendments. This Agreement may be amended only by
written consent of both parties. 
 8.4. Independent Contractor. Neither party shall, for any purpose, be deemed
to be an agent of the other party, nor the relationship between the parties shall only be that of independent contractors. Neither party shall have any right or authority to assume or create any obligations or to make any representations or
warranties on behalf of any other party, whether express or implied, or to bind the other party in any respect whatsoever. 

  
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 8.5. Disputes Resolution; Waiver of Jury Trial. 

(a) Except as otherwise provided in this Agreement, the following binding dispute resolution procedures shall be the exclusive means used
by the parties to resolve all disputes, differences, controversies and claims arising out of or relating to the Agreement or any other aspect of the relationship between Flextronics and Customer or their respective affiliates and subsidiaries
(collectively, “Disputes”). Either party may, by written notice to the other party, refer any Disputes for resolution in the manner set forth below. Either party’s affiliates and subsidiaries are also intended beneficiaries of, and
may enforce, this dispute resolution procedure. 
 (b) Any and all Disputes shall be referred to arbitration under the rules and
procedures of Judicial Arbiter Group, Inc. (“JAG”), who shall act as the arbitration administrator (the “Arbitration Administrator”). 
 (c) The parties shall agree on a single arbitrator (the “Arbitrator”). The Arbitrator shall be a retired judge selected by the parties from a roster of arbitrators provided by the Arbitration
Administrator. If the parties cannot agree on an Arbitrator within seven (7) days of delivery of the demand for arbitration (“Demand”) (or such other time period as the parties may agree), the Arbitration Administrator shall deliver a
roster of ten names to the parties. Within seven (7) calendar days of service upon the parties of the list of names, each party may strike three (3) names and shall rank the remaining seven arbitrator candidates in order of preference,
from least to most preferred. The Arbitration Administrator will then appoint the remaining candidate with the highest composite ranking as the Arbitrator, or, in the event of a tie, the Arbitration Administrator will select an Arbitrator from among
the tied candidates. 
 (d) Unless otherwise mutually agreed to by the parties, the place of arbitration shall be Denver,
Colorado, although the arbitrators may be selected from rosters outside Denver. 
 (e) The Federal Arbitration Act shall govern
the arbitrability of all Disputes. The Federal Rules of Civil Procedure and the Federal Rules of Evidence (the “Federal Rules”), to the extent not inconsistent with this Agreement, govern the conduct of the arbitration. To the extent that
the Federal Arbitration Act and Federal Rules do not provide an applicable procedure, Colorado law shall govern the procedures for arbitration and enforcement of an award, and then only to the extent not inconsistent with the terms of this
Section 8.5. Disputes between the parties shall be subject to arbitration notwithstanding that a party to this Agreement is also a party to a pending court action or special proceeding with a third party, arising out of the same transaction or
series of related transactions and there is a possibility of conflicting rulings on a common issue of law or fact. 
 (f) Unless
otherwise mutually agreed to by the parties, each party shall allow and participate in discovery as follows: 
  

	 	(i)	Non-Expert Discovery. Each party may (1) conduct three (3) non-expert depositions of no more than five (5) hours of testimony each, with any
deponents employed by any party to appear for deposition in Denver, Colorado; (2) propound a single set of requests for production of documents containing no more than twenty (20) individual requests; (3) propound up to twenty written
interrogatories; and (4) propound up to ten (10) requests for admission. 

  

	 	(ii)	Expert Disclosure. If scientific, technical, or other specialized knowledge will assist the arbitrator, each party may select a single witness who is retained or
specially employed to provide such expert testimony. In addition, each party may select an additional retained or specially employed expert witness to testify with respect to damages issues, if any. Expert discovery shall consist of the
following: (1) the parties shall exchange complete reports on all information to be provided by the expert(s) at the hearing no later than thirty (30) days before the first day of the hearing; (2) the parties shall produce complete
rebuttal reports, if any, no later than ten (10) days before the first day of the hearing; and (3) the parties shall be required to produce any and all documents reviewed by their expert(s) in performing work relating to the arbitration.

  

	 	(iii)	Additional Discovery. The Arbitrator may, on application by either party, authorize additional discovery only if deemed essential to avoid injustice. In the
event that remote witnesses might otherwise be unable to attend the arbitration, arrangements shall be made to allow their live testimony by videoconference during the arbitration hearing. 

  
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 (g) The Arbitrator shall render an award within six (6) months after the date of
appointment, and a condition of the arbitrator’s appointment shall be commitment to comply with this six (6) month period. This period may be extended by mutual agreement of the parties. The award shall be accompanied by a written opinion
setting forth the findings of fact; conclusions of law and reasoning relied upon by the arbitrator in reaching his or her decision. The Arbitrator shall have authority to award compensatory damages only, and shall not award any punitive, exemplary,
or multiple damages. The award (subject to clarification or correction by the arbitrator as allowed by statute and/or the Federal Rules) shall be final and binding upon the parties, subject solely to the review procedures provided in this
Section 8.5. 
 (h) Either party may seek arbitral review of the award. Arbitral review may be had as to any element of the
award. 
 (i) This Agreement’s arbitration provisions are to be performed in Denver, Colorado. Any judicial proceeding
arising out of or relating to this Agreement or the relationship of the parties, including without limitation any proceeding to enforce this section 8.5, to review or confirm the award in arbitration, or for preliminary injunctive relief as set
forth in subsection (k), shall be brought exclusively in a court of competent jurisdiction in the county of Denver, Colorado (the “Enforcing Court”). By execution and delivery of this Agreement, each party (i) accepts, generally and
unconditionally, the exclusive jurisdiction of the Enforcing Court and any related appellate court, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement, their relationship, or any arbitration
relating thereto, (ii) irrevocably waives any objection it may now or hereafter have as to the venue of any such suit, action or proceeding brought in such a court or that such court is an inconvenient forum, and (iii) waives personal
service of process and consents to service of process upon it by certified or registered mail, return receipt requested, at its address specified or determined in accordance with Section 8.5 hereof, and service so made shall be deemed completed
on the third business day after such service is deposited in the mail. Nothing in this Section 8.5 shall affect the right of any party hereto to serve process in any other manner permitted by applicable law. 

(j) Each party shall pay their own expenses in connection with the resolution of Disputes pursuant to this Section 8.5, including
attorneys’ fees. Notwithstanding the foregoing: (1) the fees and expenses of the Arbitrator and Arbitration Administrator shall be (A) borne equally by Customer and Flextronics if and to the extent that the arbitration panel
determines that such result would be fair and equitable under the circumstances, or (B) borne by Customer and/or Flextronics in inverse proportion to the amount that the arbitration panel’s award in favor of Customer and/or Flextronics
bears to the total amount of the items in dispute (for illustration purposes for this Section 8.5 (i) only, (X) if the total amount of items in dispute is $1,000,000.00, and Customer prevails on $500,000.00 as determined by the
Arbitrator, Flextronics and Customer shall bear the arbitration panel’s fees and expenses equally, or (Y) if the total amount of items in dispute is $1,000,000.00, and Customer prevails on $250,000.00 as determined by the Arbitrator,
Customer shall bear 75% and Flextronics shall bear 25% of the fees and expenses of the arbitrator and the Arbitration Administrator; and (2) the fees and expenses incurred by the prevailing party to enforce this Section 8.5 or the
enforcement of any award shall be paid by the other party. 
 (k) The parties agree that any breach of a party’s
confidentiality obligations set forth in this Agreement will result in irreparable injury to the other party for which there is no adequate remedy at law. Therefore, in the event of any breach or threatened breach of such obligations, the
non-breaching party will be entitled to seek preliminary injunctive relief in the Enforcing Court or in any Court of competent jurisdiction in the location in which the breaching party conducts its business, without first pursuing such relief in
arbitration. 
 (l) Notwithstanding anything contained in this Section 8.5 to the contrary, in the event of any Dispute,
prior to referring such Dispute to arbitration pursuant to Section 8.5(b) hereof, Customer and Flextronics shall attempt in good faith to resolve any and all controversies or claims relating to such Disputes promptly by negotiation commencing
within ten (10) calendar days of the written notice of such Disputes by either party, including referring such matter to Customer’s then-current President and Flextronics’s then current executive in charge of manufacturing operations
in the region in which the primary activities of this Agreement are performed by Flextronics. The representatives of the parties shall meet at a mutually acceptable time and place and thereafter as often as they reasonably deem necessary to exchange
relevant information and to attempt to resolve the Dispute for a period of four (4) weeks. In the event that the parties are unable to resolve such Dispute pursuant to this Section 8.5 (1), the provisions of Section 8.5(a) through
(j) hereof, inclusive, as well as Section 8.5 (n) shall apply. 

  
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 (m) The parties agree that the existence, conduct and content of any arbitration pursuant to
this Section 8.5 shall be kept confidential and no party shall disclose to any person any information about such arbitration, except as may be required by law or by any governmental authority or for financial reporting purposes in each
party’s financial statements. 
 (n) IN THE EVENT OF ANY DISPUTE BETWEEN THE PARTIES, WHETHER IT RESULTS IN PROCEEDINGS IN
ANY COURT IN ANY JURISDICTION OR IN ARBITRATION, THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY, AND HAVING HAD AN OPPORTUNITY TO CONSULT WITH COUNSEL, WAIVE ALL RIGHTS TO TRIAL BY JURY, AND AGREE THAT ANY AND ALL MATTERS SHALL BE DECIDED BY A JUDGE
OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW. 
 (o) In the event of any lawsuit between
the parties arising out of or related to this Agreement, the parties agree to prepare and to timely file in the applicable court a mutual consent to waive any statutory or other requirements for a trial by jury. 

8.6. Governing Law.  
 (a.) This Agreement shall be governed and construed in all respects in accordance with the domestic laws and regulations of the State of Colorado without regard to its conflicts of laws provisions; except
to the extent there may be any conflict between the law of the State of Colorado and the Incoterms of the International Chamber of Commerce, 2000 edition, in which case the Incoterms shall be controlling. The parties specifically agree that the 1980
United Nations Convention on Contracts for the International Sale of Goods, as may be amended from time to time, shall not apply to this Agreement. 
 (b.) The parties acknowledge and confirm that they have selected the laws of the State of Colorado as the governing law for this Agreement in part because jury trial waivers are enforceable under Colorado
law. The parties further acknowledge and confirm that the selection of the governing law is a material term of this Agreement. 

8.7 Successors, Assignment: Subcontractors. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors, assigns and legal representatives. Neither party shall have the right to assign or otherwise transfer its rights or obligations under this Agreement except with the prior written consent of the other party,
not to be unreasonably withheld; provided, that Flextronics may assign this Agreement to any of its affiliated companies. Where necessary for the optimal performance of services, Flextronics shall be entitled to sub-contract all or any part of the
Services, including without limitation, the security, cleaning, maintenance, repair and other services and works at the Facility. Notwithstanding the foregoing, Flextronics may assign some or all of this Agreement to an affiliated Flextronics
entity. 
 8.8 Force Majeure. In the event that either party is prevented from performing or is unable to perform
any of its obligations under this Agreement (other than a payment obligation) due to any Act of God, fire, casualty, flood, earthquake, war, strike, lockout, epidemic, destruction of production facilities, riot, insurrection, act of terrorism or any
other cause beyond the reasonable control of the party invoking this section, and if such party shall have used its commercially reasonable efforts to mitigate its effects, such party shall give prompt written notice to the other party, its
performance shall be excused, and the time for the performance shall be extended for the period of delay or inability to perform due to such occurrences. Regardless of the excuse of Force Majeure, if such party is not able to perform within ninety
(90) days after such event, the other party may terminate the Agreement. 
 8.9 Intellectual Property.
Nothing in this Agreement grants either party any rights to use the other party’s trademarks, trade - or corporate names, patents or other intellectual property rights, directly or indirectly, in connection with any product, service, promotion
or publication without the prior written approval of the intellectual property rights owner or, in the case of corporate names, of an authorized officer of the other party. 
 8.10 Notices. All notices required or permitted under this Agreement will be in writing and will be deemed received (i) when delivered personally; (ii) when sent by confirmed
facsimile; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (I) day after deposit with a commercial overnight carrier. All communications will be
sent to the addresses set forth above or to such other address as may be designated by a party by giving written notice to the other party pursuant to his section. 

  
 8 

 If any legislation is compulsorily applicable to any business undertaken, this Agreement shall be read as
subject to such legislation and nothing in this Agreement shall be construed as a surrender by Flextronics of any of its rights or immunities or as an increase of any of its responsibilities or liabilities under such legislation and if any provision
of this Agreement is inconsistent with a provision of any statute or rule of law having compulsorily application to the Agreement then to the extent only of such inconsistency such statute or rule of law shall prevail. 

THIS AGREEMENT MUST BE ACCEPTED WITHIN THIRTY (30) DAYS FROM THE PROPOSAL DATE BY SIGNATURE OF CUSTOMER. IN THE ABSENCE OF WRITTEN ACCEPTANCE, THE
ACT OF TENDERING GOODS DESCRIBED HEREIN FOR STORAGE OR OTHER SERVICES BY FLEXTRONICS WITHIN THIRTY (30) DAYS FROM THE PROPOSAL DATE SHALL CONSTITUTE UNQUALIFIED ACCEPTANCE OF THESE TERMS AND CONDITIONS BY CUSTOMER. 

ACCEPTED AND AGREED TO: 
  

									
	[CUSTOMER]:	  		  	[FLEXTRONICS]
			
	 

	  		  	 

	By:	 	 GREGORY S. STEELE
	  		  	By:	 	 Thomas Wright

	Title:	 	 VP OF OPERATIONS
	  		  	Title:	 	 VP FGS.

  
 9 

 EXHIBIT A 
 SCOPE OF SERVICES 
 The Services include the following: 

 

	A.	Operation and space 

  

	 	1)	Flextronics will provide material handling equipment and trained manpower to provide the services. 

 

	 	2)	The Facility will include appropriate security conditions. 

  

	 	3)	Upon reasonable advance notice, Flextronics will permit Customer to enter the Facility, for stock counting and inventory purposes only. 

 

	 	4)	Hours of Operation are 7:00am to 6:00pm: Established locally in accordance with Customer requirements, excluding holidays. After hours support will be provided as
required by Customer, upon reasonable advanced notice given to Flextronics and at an additional-cost to be agreed on by the parties. 

  

	 	5)	Product shall be stored in accordance with Customer’s guidelines. Adequate space will be made available in accordance with the previously agreed upon levels.

  

	 	6)	Services will be performed at Flextronics Global Services, Building 15, 260 South Milpitas Blvd, Milpitas, CA 95035. If it becomes necessary to perform the Work at a
different location, Flextronics will provide ample notice to Customer. 

  

	B.	Computerized Warehouse Management System (“System”): 

 Flextronics will provide for at least the following, via email in excel format unless comparable data is available within Customer’s provided system: 

 

	 	I.	Daily receiving report by part number & quantities 

  

	 	II.	Daily on hand inventory balance by part number & quantities 

  

	 	III.	Daily “on hold” inventory by part number & quantities 

  

	 	IV.	Daily shipment report by serial number, part number & quantities 

 

	C.	Warehouse Services 

 Flextronics will check the Goods against shipping documents and incoming inspection criteria as agreed to by both parties. Any discrepancies in quantity, observable defects in the external packaging of
the Goods, or discrepancies against inspection criteria will be reported. For the purposes of this Agreement, “observable defects” shall mean only those defects plainly and readily visible to the human eye and requiring no technical skills
or background to discover upon visual inspection. Inspections beyond the extent noted above may require an adjustment to pricing as agreed to by both parties prior to implementation of such a change. 

	D.	Handling out 

 Flextronics will receive call-off instructions from Customer via EDI, access to Customer’s system, or e-mail and will disburse the Goods as directed by Customer. The Customer shall ensure that the
dispatch instructions are in Flextronics’s possession timely. 
  

	E.	Inventory Management 

 1.
Flextronics agrees to maintain Customer inventory at the Facility within an orderly and organized system, 
 2. The inventory
levels will be reported to Customer via e-mail or as otherwise agreed between parties. If Customer elects to have Flextronics perform this scope of work within the Customer’s systems, then no inventory reports will be shared with Customer
beyond those available within the Customer’s own system. 
 3. Flextronics will perform routine cycle counting and upon
customer request, physical inventory (PI) on a yearly basis. Cycle counts shall be performed on each part number a minimum of once per month until such time as inventory accuracy is above 99%. 

 

	F.	Value Added Services 

 1.
Flextronics will plan, order, kit and receive into inventory miscellaneous items including, but not limited to cables, brackets, and installation kits that are ordered by Enphase Energy customers. Such items will be included in the Forecast provided
to Flextronics on a monthly basis but shall be ordered and managed using a Min/Max system. Flextronics shall order and receive this material on the Enphase ERP System (MAS500). 
 2. Flextronics may be requested from time to time to provide certain Value Added Services, including, but not limited to labeling, re-packaging, quality screening, rework and testing on terms to be agreed
on by the parties. If such changes result in a material change in Flextronics’s costs, Flextronics and Customer shall negotiate in good faith such adjustments. 
 3. Flextronics can also provide any special services, such as freight services, etc. Any such services will be defined and priced separately. 

  
 2 

	G.	Process Flow (for items covered under MSA and built by Flextronics) 

 

 

  
 3 

 Process Flow (for miscellaneous items purchased for Enphase Energy) 

 

  
 4 

 EXHIBIT B 
 List of Goods 
  

					
	 Model Number
	  	 Part Number
	  	 Description

			
	 M190-72-240-S11
	  		  	Micro-Inverter, 240Vac, for 60 & 72 cell modules - MC Non-Locking PV connector [2]
	 M190-72-240-S12
	  		  	Micro-inverter, 240Vac, for 60 & 72 cell modules - MC Locking PV connector [2]
	 M190-72-208-S11
	  		  	Micro-Inverter, 208Vac, for 60 & 72 cell modules - MC Non-Locking PV connector [2]
	 M190-72-208-S12
	  		  	Micro-inverter, 208Vac, for 60 & 72 cell modules - MC Locking PV connector [2]
			
	 IEMU-01
	  	860-00003	  	Envoy Energy Management Unit, Indoor enclosure
	 EPLC-01
	  	860-00005	  	Enphase Power Line Carrier (Quantity 2)
			
	 ELCF-120-001
	  		  	Line Communication Filter, for 208 & 240Vac, IEMU communication hub Included [4]
			
	 EKIT-01-001
	  	150-10001	  	Install kit, AC Branch Circuit, for 240 or 208Vac [3]
	 EKIT-12-001
	  	150-10101	  	Install kit, AC Branch Circuit, for 240 or 208Vac, Volume Pack (Quantity 12) [3]
	 ECAP-50-001
	  	150-10002	  	End Caps, Sealing, Volume Pack (Quantity 50)
	 EMBK-50-001
	  	150-10003	  	Mounting Bracket, Volume Pack (Quantity 50)
			
	 ECWP-01-06
	  	860-00006	  	AC Interconnect Cable, 6’ Long [3]
	 ECWP-06-06
	  		  	AC Interconnect Cable, 6’ Long, Volume Pack (Quantity 6) [3]
	 ECWP-01-12
	  	860-00007	  	AC Interconnect Cable, 12’ Long [3]
	 ECWP-06-12
	  		  	AC Interconnect Cable, 12’ Long, Volume Pack (Quantity 6) [3]
	 ECWP-01-20
	  	860-00008	  	AC Interconnect Cable, 20’ Long [3]
	 ECWP-06-20
	  		  	AC Interconnect Cable, 20’ Long, Volume Pack (Quantity 6) [3]
	 EEXC-01-06
	  	860-00009	  	Extension Cable, Connectors on Both Ends, 6’ Long [3]
	 EEXC-06-06
	  		  	Extension Cable, Connectors on Both Ends, 6’ Long, Volume Pack (Quantity 6) [3]
	 EEXC-01-12
	  	860-00010	  	Extension Cable, Connectors on Both Ends, 12’ Long [3]
	 EEXC-06-12
	  		  	Extension Cable, Connectors on Both Ends, 12’, Volume Pack (Quantity 6) [3]
	 EEXC-01-20
	  	860-00011	  	Extension Cable, Connectors on Both Ends, 20’ Long [3]
	 EEXC-06-20
	  		  	Extension Cable, Connectors on Both Ends, 20’ Long, Volume Pack (Quantity 6) [3]
			
	 ENLS-01-Y1
	  		  	Enlighten 1 year subscription, priced per module [5]
	 ENLS-05-Y5
	  		  	Enlighten 5 year subscription, priced per module [5]

  
 5 

 EXHIBIT C 
 CHARGES 
  

	A.	Charges 

 To support
Customer’s agreements with their Purchasers, Customer may choose to have their product handled in a “pallet in/pallet out” or a “pallet in/carton out” manner. (One format must be selected per part number.) Our operation
schedule will be from Monday to Friday from 7 a.m. to 6 p.m. 
  

																															
	 	 	 	 	Quantities
Monthly	 	 	Labor
(Weighted)
Minutes	 	 	Labor Price
$
Per Pallet/Shipment	 	 	Team Support 
(IDL)
$
Monthly	 	 	Facilities
Sq. FI	 	 	Facilities Cost
$
Monthly	 	 	Estimated Total Cost
$
Monthly	 
									
	 Q109
	 		 				 				 				 	$	[***	] 	 	 	280	  	 	$	[***	] 	 	$	[***	] 
		 	Receiving Pallets (Estimated)	 	 	24	  	 	 	15	  	 	$	[***	] 	 				 				 				 			
		 	Shipping Orders	 	 	48	  	 	 	33	  	 	$	[***	] 	 				 				 				 			
	 Q209
	 		 				 				 				 	$	[***	] 	 	 	623	  	 	$	[***	] 	 	$	[***	] 
		 	Receiving Pallets (Estimated)	 	 	61	  	 	 	15	  	 	$	[***	] 	 				 				 				 			
		 	Shipping Orders	 	 	104	  	 	 	33	  	 	$	[***	] 	 				 				 				 			
	 Q309
	 		 				 				 				 	$	[***	] 	 	 	580	  	 	$	[***	] 	 	$	[***	] 
		 	Receiving Pallets (Estimated)	 	 	53	  	 	 	15	  	 	$	[***	] 	 				 				 				 			
		 	Shipping Orders	 	 	148	  	 	 	33	  	 	$	[***	] 	 				 				 				 			

 Notes/Assumptions: 
 a) Based on unit volume & shipment quantities supplied by Enphase 
 b) Based on
assumption of shipment sizes & unit mix: 
  

	•	 	 Small Shipment (25%) = Each Small Shipment = PCU (20), EMU (1), Cables (1), Other Line Items (2)

 

	•	 	 Medium Shipment (50%) = Each Medium Shipment = PCU (60), EMU (1), Cables (2), Other Line Items (2)

 

	•	 	 Large Shipment (25%) = Each Large Shipment = PCU (140), EMU (1), Cables (7), Other Line Items (2)

c) Assumes above order mix and same scope of work 
 d) Labor time standards are estimation 
 Pricing Assumptions: 

a) Quote is only in relation to Logistics, no RMA services have been quoted in this model 
 b) Both parties agree to review on a regular basis (monthly/quarterly) assumptions associated with this quotation and any changes or adjustments to volume and/or order mix, will be mutually agreed upon
and subsequently implemented. This includes headcount requirements, HPU’s, materials related assumptions, and general resource requirements required to support the scope of work. 
 c) [***] 
 d) No material cost is included. Any material purchases shall be marked up 15%
to cover OH, 

  
 [***] = CERTAIN
INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

  
 6 

 
handling, minor freight charges as listed in (e) below, etc. This excludes all product produced by Flextronics under the terms of the MSA. No material markup shall be applied to this
product. 
 e) Pricing assumes Flextronics will absorb inbound freight costs associated with turnkey components purchased by Flextronics so long
as these costs do not exceed 5% of the material cost. If freight, fuel, duty, or related logistics costs rise above this Flextronics reserves the right to adjust pricing accordingly. 
 f) Pricing assumes Flextronics will absorb the occasional overtime to meet fluctuations in demand or to cover for various issues that may arise so long as overtime does not exceed up to 5% of total labor
hours for a given period. Overtime requests by the Customer to cover special requirements will be invoiced above and beyond the normal pricing. 

g) Pricing does not include any costs associated with physical isolation (e.g. fencing or walls) as could possibly be required or requested for purposes
of IP protection or ITAR/trade compliance controls. It is not known at this time if any such physical controls would be required. 
 h) Holiday,
Weekend, or After-hour support is available but not included in the provided pricing. If desired, On-Call support is also available. 
  

	 	I.	On Call support is available for $[***] per day that includes up to two hours of after hour support. Incremental hours beyond the first two are billed at a rate
of $37 per hour for shipping support. Repair or technical support quote available upon request. 

  

	 	II.	On Call support is available with two weeks prior notice 

 i) Pricing provided assumes work would be completed on Day shift because Flextronics does pay a slight shift premium for the night shift employees when needed 

j) Drop-in expedite requests shall not exceed 10% of total demand 
 k) Price assumes Flextronics to use Customer ERP management system (Mas500 and Enable) for order receipts, with full access to process outbound orders with capabilities of printing packing
slips/commercial invoices. 
 l) EDI or interfaces of any sort are not included in the pricing. Development of data interfaces would be quoted
and presented to Customer for review and approval and would subsequently be invoiced as an NRE 
 m) No work shall be performed prior to a PO
being issued to Flextronics 
 n) Quote assumes no additional space will be required other than for Logistics warehouse and floor space to pick
and pack and transact product orders. 
 o) If warehouse space exceeded more than 25% of quoted space, Flextronics reserve the rights to charge
additional $[***] per pallet per month 
 p) Quote assumes all outbound freight is paid by Customer, therefore not included in quote
price. 
 q) Incoterms for outbound shipments leaving Flextronics are assumed to be FOB Origin or Ex Works. 

r) Incoterms for inbound shipments being delivered to Flextronics are assumed to be DDP 
 s) Flextronics shall not be the importer nor the exporter of record. 
 t) Price assumes,
Flextronics will provide basic warehouse equipment such as workbenches, computer, scanners, but not unique equipment specific to neither Enphase nor can Flex provide “Expensive” equipment such as Zebra printers etc. 

  
 [***] = CERTAIN
INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

  
 7 

 u) Flextronics will absorb standard operating supplies required to perform the scope of work under the
assumption such supplies do not exceed $1 per order on average. Operating supplies include incidental non-billable items such as shrink-wrap, printer toner, office supplies, gloves, static bags, cleaners, and other MRO items. 

v) Customer will be invoiced monthly against a blanket purchase order. 
 y) Price assumes next day order shipment. Same day order requests must be received by 12 noon. Expedite charges may apply on same day orders. 

  
 8Flextronics Manufacturing Services Agreement

 Exhibit 10.18 
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES
ACT OF 1933, AS AMENDED. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 Flextronics
Manufacturing Services Agreement 
 This Flextronics Manufacturing Services Agreement (“Agreement”) is
entered into this 1st day of March 2009 by and between Enphase Energy, Inc. having its place of business at 201 1st
Street, Suite 300, Petaluma, CA 94952 (“Customer”) and Flextronics Industrial, LTD, having its place of business at Level 3, Alexander House 35 Cybercity, Ebene
Mauritius (“Flextronics”). 
 Customer desires to engage Flextronics to perform manufacturing services as
further set forth in this Agreement. The parties agree as follows: 
  

	1.	DEFINITIONS 

 Flextronics and Customer
agree that capitalized terms shall have the meanings set forth in this Agreement and Exhibit 1 attached hereto and incorporated herein by reference. 
  

	2.	MANUFACTURING SERVICES 

2.1. Work. Customer hereby engages Flextronics to perform the work (hereinafter “Work”).
“Work” shall mean to procure Materials and to manufacture, assemble, and test products (hereinafter “Product(s)”) pursuant to detailed written Specifications. The “Specifications” for each Product
or revision thereof, shall include but are not limited to bill of materials, designs, schematics, assembly drawings, process documentation, test specifications, current revision number, and Approved Vendor List. The Specifications as provided by
Customer and included in Flextronics’s production document management system and maintained in accordance with the terms of this Agreement are incorporated herein by reference as Exhibit 2.1. This Agreement includes new product introduction
(NPI) to the extent that the estimated pricing for pilot build quantities of 30 units is listed in Exhibit 3.4. Pricing for other pilot runs is expected to be made using similar pricing methodologies. 

2.2. Engineering Changes. Customer may request that Flextronics incorporate engineering changes into the Product by
providing Flextronics with a description of the proposed engineering change sufficient to permit Flextronics to evaluate its feasibility and cost. Flextronics will proceed with engineering changes when the parties have agreed upon the changes to the
Specifications, delivery schedule and Product pricing and the Customer has issued a purchase order for the implementation costs. The Customer Focus Team will analyze and incorporate at [***] expense the first [***] engineering
changes per [***] affecting less than [***]% of the product BOM except for the following: new ICT fixtures & programs, tooling/equipment, etc. The CFT will provide an implementation quote for material E&O, direct labor and
pilot build to validate the ECO change as warranted. 
 2.3. Tooling; Non-Recurring Expenses; Software. Customer
shall pay for or obtain and consign to Flextronics any Product-specific tooling, equipment or software and other reasonably necessary non-recurring expenses, to be set forth in Flextronics’s quotation. All software that Customer provides to
Flextronics or any test software that Customer engages Flextronics to develop is and shall remain the property of Customer. At the time of signing this agreement, Customer consigned equipment shall include functional test sets, system test sets,
Hi-Pot test equipment, a temperature chamber, 2 ENABLE servers, and a potting machine, as per the attached Exhibit 2.3. 
 2.4.
Cost Reduction Projects. Flextronics agrees to seek ways to reduce the cost of manufacturing Products by methods such as elimination of Materials, redefinition of Specifications, and re-design of assembly or test methods. Upon
implementation of such ways that have been initiated by Flextronics and approved by Customer, Flextronics will receive 100% of the demonstrated cost reduction for the balance of the quarter in which it is found. Customer will receive 100% of the
demonstrated cost reduction upon implementation of such ways initiated by Customer. Costs shall be formally evaluated at the end of each quarter and standards shall be adjusted based upon that evaluation. [***] a costed BOM) shall be provided
to Customer no later than 10 days before the end of the quarter. New standards will be effective for all shipments starting on the first day of each quarter. The parties shall mutually agree upon non-binding cost reduction targets during their
quarterly business reviews. 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 2.5. Factory Access. Flextronics agrees to grant access as needed to the Canadian
Standards Association (CSA) and other industry-standards entities for factory audits at no charge to Customer. It is anticipated that CSA will visit the factory 4 times per year. 

2.6. IT Support. Customer requires a client-to-site connection to the Flextronics facility be available at all times to monitor
production test equipment and to troubleshoot any potential problems. Flextronics shall provide a static internet connection, through which Customer can tunnel via a secure protocol such as VPN. Enphase shall provide pre-configured equipment for
installation at the Flextronics facilities. 
  

	3.	FORECASTS; ORDERS; FEES; PAYMENT 

 3.1. Forecast. Customer shall provide Flextronics, on a monthly basis, a rolling twelve (12) month forecast indicating Customer’s monthly Product requirements. The first ninety
(90) days of the forecast shall be in weekly time buckets and will constitute Customer’s written purchase order for all Work to be completed within the first ninety (90) day period. Such purchase orders will be issued in accordance
with Section 3.2 below. 
 3.2. Purchase Orders; Precedence. Customer may use its standard purchase order
form for any notice provided for hereunder; provided that all purchase orders must reference this Agreement and the applicable Specifications. The parties agree that the terms and conditions contained in this Agreement shall prevail over any terms
and conditions of any such purchase order, acknowledgment form or other instrument, unless specifically agreed in writing by both parties. 
 3.3. Purchase Order Acceptance. Purchase orders shall normally be deemed accepted by Flextronics, provided however that Flextronics may reject any purchase order: (a) that is an amended
order in accordance with Section 5.2 below because the purchase order is outside of the Flexibility Table; (b) if the fees reflected in the purchase order are inconsistent with the parties’ agreement with respect to the fees;
(c) if the purchase order represents a significant deviation from the forecast for the same period, unless such deviation is within the parameters of the Flexibility Table; or (d) if a purchase order would extend Flextronics’s
liability beyond Customer’s approved credit line. Flextronics shall notify Customer of rejection of any purchase order within five (5) business days of receipt of such purchase order. 

3.4. Fees; Changes; Taxes. 
 (a) The fees will be agreed by the parties and will be indicated on the purchase orders issued by Customer and accepted by Flextronics. The initial fees shall be as set forth on the Fee List attached
hereto and incorporated herein as Exhibit 3.4 (the “Fee List”). If a Fee List is not attached or completed, then the initial fees shall be as set forth in purchase orders issued by Customer and accepted by Flextronics in accordance
with the terms of this Agreement. 
 (b) Customer is responsible for additional fees and costs due to: (a) changes to the
Specifications except as permitted in Section 2.2; (b) failure of Customer or its subcontractor to timely provide sufficient quantities or a reasonable quality level of Customer Controlled Materials where applicable to sustain the
production schedule; and (c) any pre-approved expediting charges reasonably necessary because of a change in Customer’s requirements. 
 (c) All costs and fees will be evaluated quarterly during the quarterly business review. Any changes and timing of changes shall be agreed by the parties, such agreement not to be unreasonably withheld or
delayed. By way of example only, the fees may be increased if the market price of fuels, Materials, equipment, labor and other production costs, increase beyond normal variations in pricing or currency exchange rates as demonstrated by Flextronics.

 (d) All fees are exclusive of federal, state and local excise, sales, use, VAT, and similar transfer taxes, and any duties,
and Customer shall be responsible for all such items. This subsection (d) does not apply to taxes on Flextronics’s net income. 
 (e) The Fees List will be based on the exchange rate(s) for converting the purchase price for Inventory denominated in the Parts Purchase Currency(ies) into the Functional Currency. The fees will be
adjusted, on a monthly basis based on changes in the Exchange Rate(s) as reported on the last business day of each month, for the following month to the extent that such Exchange Rates change more than +/- .75% from the prior month (the
“Currency Window”). “Exchange Rate(s)” is defined as the closing currency exchange rate(s) as reported on 

  
 2 

 
Reuters’ page FIX on the last business day of the current month prior to the following month. “Functional Currency” means the currency in which all payments are to be made pursuant
to Section 3.5 below. “Parts Purchase Currency(ies)” means U.S. Dollars, Japanese Yen and/or Euros to the extent such currencies are different from the Functional Currency and are used to purchase Inventory needed for the performance
of the Work forecasted to be completed during the applicable month. 
 3.5. Payment. Customer agrees to pay all
invoices in U.S. Dollars within [***] days of the date of the invoice. 
 3.6. Late Payment. Customer
agrees to pay one and one-half percent (1.5%) monthly interest on all late payments. Furthermore, if Customer is late with payments, or Flextronics has reasonable cause to believe Customer may not be able to pay. Flextronics may (a) stop
all Work under this Agreement until assurances of payment satisfactory to Flextronics are received or payment is received; (b) demand prepayment for purchase orders; and (c) delay shipments and (d) to the extent that
Flextronics’s personnel cannot be reassigned to other billable work during such stoppage and/or in the event restart cost are incurred, invoice Customer for additional fees before the Work can resume. Customer agrees to provide all necessary
financial information required by Flextronics from time to time in order to make a proper assessment of the creditworthiness of Customer. 

3.7. Letter of Credit. Within forty-five (45) days of Flextronics’s request made at any time during the term of this Agreement,
Customer agrees to obtain and maintain a stand-by letter of credit or such other financial instrument mutually agreed upon by the parties on behalf of Flextronics to support Customer’s payment obligations set forth in this Agreement and to
minimize the financial risk to Flextronics for its performance of the Work under this Agreement. The stand-by letter of credit or other mutually agreed upon financial instrument shall be for a minimum period of time of three (3) months and
shall be for a total amount that is equal to the total value of the risks associated with Inventory, Special Inventory, and the accounts receivable from Customer. The calculation shall be based upon the forecast provided by Customer pursuant to
Section 3.1. The draw down procedures under the stand-by letter of credit or other mutually agreed upon financial instrument shall be determined solely by Flextronics. Flextronics will, in good faith, review Customer’s creditworthiness
periodically and may provide more favorable terms once it feels it is prudent to do so. In addition, Flextronics agrees that no letter of credit shall be required from Customer as long as Customer has promptly paid all invoices in accordance with
Section 3.5. 
  

	4.	MATERIALS PROCUREMENT; CUSTOMER RESPONSIBILITY FOR MATERIALS 

 4.1. Authorization to Procure Materials, Inventory and Special Inventory. Customer’s accepted purchase orders and forecast will constitute authorization for Flextronics to procure,
without Customer’s prior approval, (a) Inventory to manufacture the Products covered by such purchase orders based on the Lead Time and (b) certain Special Inventory based on Customer’s purchase orders and forecast as follows:
Long Lead-Time Materials as required based on the Lead Time when such purchase orders are placed and Minimum Order Inventory as required by the supplier. Flextronics will only purchase Economic Order Inventory with the prior approval of Customer.
Flextronics will provide to Customer each quarter a list of all long lead time parts (greater than [***]) and the total quantity on order for each long lead time part. 
 4.2. Customer Controlled Materials. Customer may direct Flextronics to purchase Customer Controlled Materials in accordance with the Customer Controlled Materials Terms. Customer
acknowledges that the Customer Controlled Materials Terms will directly impact Flextronics’s ability to perform under this Agreement and to provide Customer with the flexibility Customer is requiring pursuant to the terms of this Agreement. In
the event that Flextronics reasonably believes that Customer Controlled Materials Terms will create an additional cost that is not covered by this Agreement, then Flextronics will notify Customer and the parties will agree to either
(a) compensate Flextronics for such additional costs, (b) amend this Agreement to conform to the Customer Controlled Materials Terms or (c) amend the Customer Controlled Materials Terms to conform to this Agreement, in each case at no
additional charge to Flextronics. Customer agrees to provide copies to Flextronics of all Customer Controlled Materials Terms upon the execution of this Agreement and promptly upon execution of any new agreements with suppliers. Customer agrees not
to make any modifications or additions to the Customer Controlled 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 3 

 
Materials Terms or enter into new Customer Controlled Materials Terms with suppliers that will negatively impact Flextronics’s procurement activities. 

4.3. Preferred Supplier. Customer shall provide to Flextronics and maintain an Approved Vendor List. Flextronics shall
purchase from vendors on a current AVL the Materials required to manufacture the Product. Customer shall give Flextronics an opportunity to be included on AVL’s for Materials that Flextronics can supply, and if Flextronics is competitive with
other suppliers with respect to reasonable and unbiased criteria for acceptance established by Customer, Flextronics shall be included on such AVL’s. If Flextronics is on an AVL and its prices and quality are competitive with other vendors,
Customer will raise no objection to Flextronics sourcing Materials from itself. For purposes of this Section 4.3 only, the term “Flextronics” includes any companies affiliated with Flextronics. For Flextronics sourced material,
Flextronics must either provide a reasonable annual cost reduction based upon comparison to similar commodities or provide proof of competitive bidding on the Flextronics sourced parts on an annual basis. 

4.4. Customer Responsibility for Inventory and Special Inventory. Customer is responsible under the conditions provided in
this Agreement for all Materials, Inventory and Special Inventory purchased by Flextronics under this Section 4. 
 4.5.
Materials Warranties. Flextronics shall use commercially reasonable efforts to obtain and pass through to Customer the following warranties with regard to the Materials (other than the Production Materials) i) conformance of the
Materials with the vendor’s specifications and/or with the Specifications; (ii) that the Materials will be free from defects in workmanship; (iii) that the Materials will comply with Environmental Regulations; and (iv) that the
Materials will not infringe the intellectual property rights of third parties. Flextronics shall promptly inform Customer if it is not able to obtain and pass through the foregoing warranties with regard to any materials. 

 

	5.	SHIPMENTS, SCHEDULE CHANGE, CANCELLATION, STORAGE 

 5.1. Shipments. All Products delivered pursuant to the terms of this Agreement shall be suitably packed for shipment in accordance with the Specifications and marked for shipment to
Customer’s destination specified in the applicable purchase order. Shipments will be made [***] at which time risk of loss and title will pass to Customer. Notwithstanding the foregoing, Customer shall reimburse Flextronics for all
actual costs incurred by Flextronics in shipping the Products [***] which may include, but not be limited to, freight, insurance and other shipping expenses, and any expenses involved in the Customs clearance as well as any special packing
expenses not included in the original quotation for the Products. 
 5.2. Quantity Increases and Shipment Schedule
Changes. 
 (a) For any accepted purchase order, Customer may (i) increase the quantity of Products or
(ii) reschedule the quantity of Products and their shipment date as provided in the flexibility table below (the “Flexibility Table”): 
 Maximum Allowable Variance From Accepted Purchase Order Quantities/Shipment Dates 
  

													
	 # of days before

Shipment Date
 on Purchase Order
	  	Allowable
Quantity
Increases	 	 	Maximum
Reschedule
Quantity	 	 	Maximum
Reschedule
Period	 
	 0-14
	  	 	0	% 	 	 	0	% 	 	 	0	  
	 15-30
	  	 	[***	]% 	 	 	[***	]% 	 	 	[***	] 
	 31-60
	  	 	[***	]% 	 	 	[***	]% 	 	 	[***	] days 
	 61-90
	  	 	[***	]% 	 	 	[***	]% 	 	 
	[***
	] days 

 Any decrease in quantity is considered a cancellation, unless the decreased quantity is rescheduled for
delivery at a later date in accordance with the Flexibility Table. Quantity cancellations are governed by the terms of Section 5.3 below. Any purchase order quantities increased or rescheduled pursuant to this Section 5.2 (a) may not

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 4 

 
be subsequently increased or rescheduled, unless such subsequent increase or reschedule also conforms to the Flexibility Table. 

(b) All reschedules to push out delivery dates outside of the table in subsection (a) require Flextronics’s prior written
approval, which, in its sole discretion, may or may not be granted. If Customer does not request prior approval from Flextronics for such reschedules, or if Customer and Flextronics do not agree in writing to specific terms with respect to any
approved reschedule, then Customer will pay Flextronics the Monthly Charges for any such reschedule, calculated as of the first day after such reschedule for any Inventory and/or Special Inventory that was procured by Flextronics to support the
original delivery schedule that is not used to manufacture Product pursuant to an accepted purchase order within thirty (30) days of such reschedule. In addition, if Flextronics notifies Customer that such Inventory and/or Special Inventory has
remained in Flextronics’s possession for more than ninety (90) days since such reschedule, then Customer agrees to immediately purchase any affected Inventory and/or Special Inventory upon receipt of the notice by paying the Affected
Inventory Costs. In addition, any finished Products that have already been manufactured to support the original delivery schedule will be treated as cancelled as provided in Sections 5.3 and 5.4 below. 

(c) Flextronics will use reasonable commercial efforts to meet any quantity increases, which are subject to Materials and capacity
availability. All reschedules or quantity increases outside of the table in subsection (a) require Flextronics’s approval, which, in its sole discretion, may or may not be granted. If Flextronics agrees to accept a reschedule to pull in a
delivery date or an increase in quantities in excess of the flexibility table in subsection (a) and if there are extra costs to meet such reschedule or increase, Flextronics will inform Customer for its acceptance and approval in advance.

 (d) Any delays in the normal production or interruption in the workflow process caused by Customer’s changes to the
Specifications or failure to provide sufficient quantities or a reasonable quality level of Customer Controlled Materials where applicable to sustain the production schedule, will be considered a reschedule of any affected purchase orders for
purposes of this Section 5.2 for the period of such delay. In addition, Customer shall be responsible for costs related to adjusting foreign currency hedging contracts due to changes in cash flows resulting from such delays. 

(e) For purposes of calculating the amount of Inventory and Special Inventory subject to subsection (b), the “Lead Time”
shall be calculated as the Lead Time at the time of procurement of the Inventory and Special Inventory. 
 5.3.
Cancellation of Orders and Customer Responsibility for Inventory. 
 (a) Customer may not cancel all or any
portion of Product quantity of an accepted purchase order without Flextronics’s prior written approval, which, in its sole discretion, may or may not be granted. If Customer does not request prior approval, or if Customer and Flextronics do not
agree in writing to specific terms with respect to any approved cancellation, then Customer will pay Flextronics Monthly Charges for any such cancellation, calculated as of the first day after such cancellation for any Product or Inventory or
Special Inventory procured by Flextronics to support the original delivery schedule. In addition, if Flextronics notifies Customer that such Product, Inventory and/or Special Inventory has remained in Flextronics’s possession for more than
thirty (30) days since such cancellation, then Customer agrees to immediately purchase from Flextronics, such Product, Inventory and/or Special Inventory by paying the Affected Inventory Costs. In addition, Flextronics shall calculate the cost
or gain of unwinding any currency hedging contracts entered into by Flextronics to support the cancelled purchase order(s). Should the unwinding result in a loss to Flextronics, Customer agrees to cover such loss amount for Flextronics immediately
upon receipt of an invoice for such amount. Should the unwinding result in a gain to Flextronics, a credit note will be immediately issued to Customer. 
 (b) If the forecast for any period is less than the previous forecast supplied over the same period, that amount will be considered canceled and Customer will be responsible for any Special Inventory
purchased or ordered by Flextronics to support the forecast. 
 (c) Products that have been ordered by Customer and that have
not been picked up in accordance with the agreed upon shipment dates shall be considered cancelled and Customer will be responsible for such Products in the same manner as set forth above in Section 5.3(a). 

  
 5 

 (d) For purposes of calculating the amount of Inventory and Special Inventory subject to
subsection (a), the “Lead Time” shall be calculated as the Lead Time at the time of (i) procurement of the Inventory and Special Inventory; (ii) cancellation of the purchase order or (iii) termination of this Agreement,
whichever is longer. 
 5.4. Mitigation of Inventory and Special Inventory. Prior to invoicing Customer for the
amounts due pursuant to Sections 5.2 or 5.3, Flextronics will use reasonable commercial efforts for a period of thirty (30) days, to return unused Inventory and Special Inventory and to cancel pending orders for such inventory, and to otherwise
mitigate the amounts payable by Customer. Customer shall pay amounts due under this Section 5 within thirty (30) days of receipt of an invoice. Flextronics will ship the Inventory and Special Inventory paid for by Customer under this
Section 5.4 to Customer promptly upon said payment by Customer. In the event Customer does not pay within thirty (30) days, Flextronics will be entitled to dispose of such Inventory and Special Inventory in a commercially reasonable manner
and credit to Customer any monies received from third parties. Flextronics shall then submit an invoice for the balance amount due and Customer agrees to pay said amount within thirty (30) days of its receipt of the invoice. 

5.5. No Waiver. For the avoidance of doubt, Flextronics’s failure to invoice Customer for any of the charges set forth
in this Section 5 does not constitute a waiver of Flextronics’s right to charge Customer for the same event or other similar events in the future. 
 5.6. Delivery performance. On time delivery shall be measured and reported to Customer on a monthly basis. Orders shall be considered on time if they are shipped from one week earlier than
the scheduled shipment date up to one day after the scheduled shipment date. On-time delivery shall be the sole responsibility of [***] If [***] can not meet the on time delivery requirement for any order due to [***] then
[***]  
  

	6.	PRODUCT ACCEPTANCE AND EXPRESS LIMITED WARRANTY 

 6.1. Product Acceptance. The Products delivered by Flextronics will be accepted upon delivery in accordance with section 5.1 of this Agreement. If Products do not comply with the express
limited warranty set forth in Section 6.2 below, Customer has the right to reject such Products during said period. Products not rejected during said period will be deemed accepted. Customer may return defective Products, freight collect, after
obtaining a return material authorization number from Flextronics to be displayed on the shipping container and completing a failure report. Rejected Products will be promptly repaired or replaced, at Flextronics’s option, and returned freight
pre-paid. Customer shall bear all of the risk, and all costs and expenses, associated with Products that have been returned to Flextronics for which there is no defect found. 
 6.2. Express Limited Warranty. This Section 6.2 sets forth Flextronics’s sole and exclusive warranty and Customer’s sole and exclusive remedies with respect to a breach by
Flextronics of such warranty. 
 (a) Flextronics warrants that the Products will have been manufactured in accordance with the
applicable Specifications and will be free from defects in workmanship for a period of 1 year from the date of shipment. In addition, Flextronics warrants that (A) Production Materials shall be used in compliance with Environmental Regulations,
(B) Flextronics will not manufacture Products using Materials from vendors that are not on the Approved Vendor List, unless otherwise agreed in writing by Customer. 
 (b) Notwithstanding anything else in this Agreement, this express limited warranty does not apply to, and Flextronics makes no representations or warranties whatsoever with respect to: (i) Materials
and/or Customer Controlled Materials; (ii) defects resulting from the Specifications or the design of the Products; (iii) Product that has been abused, damaged, altered or misused by any person or entity after title passes to Customer;
(iv) first articles, prototypes, pre-production units, test units or other similar Products; (v) defects resulting from tooling, designs or instructions produced or supplied by Customer, or (vi) the compliance of Materials or Products
with any Environmental Regulations. Customer shall be liable for costs or expenses incurred by Flextronics related to the foregoing exclusions to Flextronics’s express limited warranty. 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 6 

 (c) Upon any failure of a Product to comply with this express limited warranty,
Flextronics’s sole obligation, and Customer’s sole remedy, is for Flextronics, at its option, to promptly repair or replace such unit and return it to Customer freight prepaid. Customer shall return Products covered by this warranty
freight prepaid after completing a failure report and obtaining a return material authorization number from Flextronics to be displayed on the shipping container. Customer shall bear all of the risk, and all costs and expenses, associated with
Products that have been returned to Flextronics for which there is no defect found. 
 (d) Customer will provide its own
warranties directly to any of its end users or other third parties. Customer will not pass through to end users or other third parties the warranties made by Flextronics under this Agreement. Furthermore, Customer will not make any representations
to end users or other third parties on behalf of Flextronics, and Customer will expressly indicate that the end users and third parties must look solely to Customer in connection with any problems, warranty claim or other matters concerning the
Product. 
 6.3. No Representations or Other Warranties. FLEXTRONICS MAKES NO REPRESENTATIONS AND NO OTHER
WARRANTIES OR CONDITIONS ON THE PERFORMANCE OF THE WORK, OR THE PRODUCTS, EXPRESS, IMPLIED, STATUTORY, OR IN ANY OTHER PROVISION OF THIS AGREEMENT OR COMMUNICATION WITH CUSTOMER, AND FLEXTRONICS SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTY OR
CONDITION OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 
  

	7.	INTELLECTUAL PROPERTY LICENSES 

 7.1. Licenses. Customer hereby grants Flextronics a non-exclusive license during the term of this Agreement to use Customer’s patents, trade secrets and other intellectual property as
necessary to perform Flextronics’s obligations under this Agreement. 
 7.2. No Other Licenses. Except as
otherwise specifically provided in this Agreement, each party acknowledges and agrees that no licenses or rights under any of the intellectual property rights of the other party are given or intended to be given to such other party. 

 

	8.	TERM AND TERMINATION 

8.1. Term. The term of this Agreement shall commence on the date hereof above and shall continue until March 1, 2010
until terminated as provided in Section 8.2 (Termination) or 10.8 (Force Majeure). After the expiration of the initial term hereunder (unless this Agreement has been terminated), this Agreement shall be automatically renewed for separate but
successive one-year terms unless either party provides written notice to the other party that it does not intend to renew this Agreement ninety (90) days or more prior to the end of any term. 

8.2. Termination. This Agreement may be terminated by either party (a) for convenience upon ninety (90) days
written notice to the other party or (b) if the other party defaults in any payment to the terminating party and such default continues without a cure for a period of fifteen (15) days after the delivery of written notice thereof by the
terminating party to the other party, (c) if the other party defaults in the performance of any other material term or condition of this Agreement and such default continues unremedied for a period of thirty (30) days after the delivery of
written notice thereof by the terminating party to the other party, or (d) pursuant to Section 10.8 (Force Majeure). 

8.3. Effect of Expiration or Termination. Expiration or termination of this Agreement under any of the foregoing
provisions: (a) shall not affect the amounts due under this Agreement by either party that exist as of the date of expiration or termination, and (b) as of such date the provisions of Sections 5.2, 5.3, and 5.4 shall apply with respect to
payment and shipment to Customer of finished Products, Inventory, and Special Inventory in existence as of such date, and (c) shall not affect Flextronics’s express limited warranty in Section 6.2 above. Termination of this Agreement,
settling of accounts in the manner set forth in the foregoing sentence shall be the exclusive remedy of the parties for breach of this Agreement, except for breaches of Section 6.2, 9.1, 9.2, or 10.1. Sections 1, 3.5, 3.6, 3.7, 4, 5.3, 5.4,
6.2, 6.3, 7, 8, 9, and 10 shall be the only terms that shall survive any termination or expiration of this Agreement. 
  

	9.	INDEMNIFICATION; LIABILITY LIMITATION 

  
 7 

 FLEXTRONICS CONFIDENTIAL 
 9.1. Indemnification by Flextronics. Flextronics agrees to defend, indemnify and hold harmless, Customer and all directors, officers, employees, and agents (each, a “Customer
Indemnitee”) from and against all claims, actions, losses, expenses, damages or other liabilities, including reasonable attorneys’ fees (collectively, “Damages”) incurred by or assessed against any of the foregoing,
but solely to the extent the same arise out of third-party claims relating to: 
 (a) any actual or threatened injury or damage
to any person or property caused, or alleged to be caused, by a Product sold by Flextronics to Customer hereunder, but solely to the extent such injury or damage has been caused by the breach by Flextronics of its express limited warranties related
to Flextronics’s workmanship and manufacture in accordance with the Specifications only as further set forth in Section 6.2; 
 (b) any infringement of the intellectual property rights of any third party but solely to the extent that such infringement is caused by a process that Flextronics uses to manufacture, assemble and/or
test the Products; provided that, Flextronics shall not have any obligation to indemnify Customer if such claim would not have arisen but for Flextronics’s manufacture, assembly or test of the Product in accordance with the Specifications; or

 (c) noncompliance with any Environmental Regulations but solely to the extent that such non-compliance is caused by a process
or Production Materials that Flextronics uses to manufacture the Products; provided that, Flextronics shall not have any obligation to indemnify Customer if such claim would not have arisen but for Flextronics’s manufacture of the Product in
accordance with the Specifications. 
 9.2. Indemnification by Customer. Customer agrees to defend, indemnify and
hold harmless, Flextronics and its affiliates, and all directors, officers, employees and agents (each, a “Flextronics Indemnitee”) from and against all Damages incurred by or assessed against any of the foregoing to the extent the
same arise out of, are in connection with, are caused by or are related to third-party claims relating to: 
 (a) any failure of
any Product (and Materials contained therein) sold by Flextronics hereunder to comply with any safety standards and/or Environmental Regulations to the extent that such failure has not been caused by Flextronics’s breach of its express limited
warranties set forth in Section 6.2 hereof; 
 (b) any actual or threatened injury or damage to any person or property
caused, or alleged to be caused, by a Product, but only to the extent such injury or damage has not been caused by Flextronics’s breach of its express limited warranties related to Flextronics’s workmanship and manufacture in accordance
with the Specifications only as further set forth in Section 6.2 hereof; or 
 (c) any infringement of the intellectual
property rights of any third party by any Product except to the extent such infringement is the responsibility of Flextronics pursuant to Section 9. l(b) above. 
 9.3. Procedures for Indemnification. With respect to any third-party claims, either party shall give the other party prompt notice of any third-party claim and cooperate with the
indemnifying party at its expense. The indemnifying party shall have the right to assume the defense (at its own expense) of any such claim through counsel of its own choosing by so notifying the party seeking indemnification within thirty
(30) calendar days of the first receipt of such notice. The party seeking indemnification shall have the right to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by the
indemnifying party. The indemnifying party shall not, without the prior written consent of the indemnified party, agree to the settlement, compromise or discharge of such third-party claim. 

9.4. Sale of Products Enjoined. Should the use of any Products be enjoined for a cause stated in Section 9.1(b) or
9.2(c) above, or in the event the indemnifying party desires to minimize its liabilities under this Section 9, in addition to its indemnification obligations set forth in this Section 9, the indemnifying party’s sole responsibility is
to either substitute a fully equivalent Product or process (as applicable) not subject to such injunction, modify such Product or process (as applicable) so that it no longer is subject to such injunction, or obtain the right to continue using the
enjoined process or Product (as applicable). In the event that any of the foregoing remedies cannot be effected on commercially reasonable terms, then, all accepted purchase orders and the current forecast will be considered cancelled and Customer
shall purchase all Products, Inventory and Special Inventory as provided in Sections 5.3 and 5.4 hereof. Any changes to any Products or process must be made in accordance with 

  
 8 

 
Section 2.2 above. Notwithstanding the foregoing, in the event that a third party makes an infringement claim, but does not obtain an injunction, the indemnifying party shall not be required
to substitute a fully equivalent Product or process (as applicable) or modify the Product or process (as applicable) if the indemnifying party obtains an opinion from competent patent counsel reasonably acceptable to the other party that such
Product or process is not infringing or that the patents alleged to have been infringed are invalid. 
 9.5. No Other
Liability. EXCEPT WITH REGARD TO A BREACH OF SECTIONS 9.1 AND 9.2 ABOVE OR SECTION 10.1 BELOW, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY “COVER” DAMAGES (INCLUDING INTERNAL COVER DAMAGES WHICH THE PARTIES
AGREE MAY NOT BE CONSIDERED “DIRECT” DAMAGES), OR ANY INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES OF ANY KIND OR NATURE ARISING OUT OF THIS AGREEMENT OR THE SALE OF PRODUCTS, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF
CONTRACT, TORT (INCLUDING THE POSSIBILITY OF NEGLIGENCE OR STRICT LIABILITY), OR OTHERWISE, EVEN IF THE PARTY HAS BEEN WARNED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE, AND EVEN IF ANY OF THE LIMITED REMEDIES IN THIS AGREEMENT FAIL OF THEIR
ESSENTIAL PURPOSE. 
 THE FOREGOING SECTION 9 STATES THE ENTIRE LIABILITY OF THE PARTIES TO EACH OTHER CONCERNING
INFRINGEMENT OF PATENT, COPYRIGHT, TRADE SECRET OR OTHER INTELLECTUAL PROPERTY RIGHTS. 
  

	10.	MISCELLANEOUS 

 10.1.
Confidentiality. 
 (a) Each party shall refrain from using any and all Confidential Information of the disclosing
party for any purposes or activities other than those specifically authorized in this Agreement. Except as otherwise specifically permitted herein or pursuant to written permission of the party to this Agreement owning the Confidential Information,
no party shall disclose or facilitate disclosure of Confidential Information of the disclosing party to anyone without the prior written consent of the disclosing party, except to its employees, consultants, parent company, and subsidiaries of its
parent company who need to know such information for carrying out the activities contemplated by this Agreement and who have agreed in writing to confidentiality terms that are no less restrictive than the requirements of this Section.
Notwithstanding the foregoing, the receiving party may disclose Confidential Information of the disclosing party pursuant to a subpoena or other court process only (i) after having given the disclosing party prompt notice of the receiving
party’s receipt of such subpoena or other process and (ii) after the receiving party has given the disclosing party a reasonable opportunity to oppose such subpoena or other process or to obtain a protective order. Confidential Information
of the disclosing party in the custody or control of the receiving party shall be promptly returned or destroyed upon the earlier of (i) the disclosing party’s written request or (ii) termination of this Agreement. Confidential
Information disclosed pursuant to this Agreement shall be maintained confidential for a period of three (3) years after the disclosure thereof. The existence and terms of this Agreement shall be confidential in perpetuity. 

(b) Notwithstanding anything contained in this Section 10.1, a receiving Party may disclose the existence and terms of this
Agreement if such information is required by Law to be disclosed under applicable law, including without limitation pursuant to the rules and regulations promulgated by the United States Securities and Exchange Commission. 

10.2. Use of Flextronics Name is Prohibited. The existence and terms of this Agreement are Confidential Information and
protected pursuant to Section 10.1 above. Accordingly, Customer may not use Flextronics’s name or identity or any other Confidential Information in any advertising, promotion or other public announcement without the prior express written
consent of Flextronics. Flextronics may not use Customer’s name or identity or any other Confidential Information in any advertising, promotion or other public announcement without the express written consent of Customer. 

10.3. Entire Agreement; Severability. This Agreement constitutes the entire agreement between the Parties with respect to
the transactions contemplated hereby and supersedes all prior agreements and understandings between the parties relating to such transactions. If the scope of any of the provisions of this Agreement is too broad in any respect whatsoever to permit
enforcement to its full extent, then such provisions shall be enforced to the 

  
 9 

 
maximum extent permitted by law, and the parties hereto consent and agree that such scope may be judicially modified accordingly and that the whole of such provisions of this Agreement shall not
thereby fail, but that the scope of such provisions shall be curtailed only to the extent necessary to conform to law. 
 10.4.
Amendments; Waiver. This Agreement may be amended only by written consent of both parties. The failure by either party to enforce any provision of this Agreement will not constitute a waiver of future enforcement of that or any other
provision. Neither party will be deemed to have waived any rights or remedies hereunder unless such waiver is in writing and signed by a duly authorized representative of the party against which such waiver is asserted. 

10.5. Independent Contractor. Neither party shall, for any purpose, be deemed to be an agent of the other party and the
relationship between the parties shall only be that of independent contractors. Neither party shall have any right or authority to assume or create any obligations or to make any representations or warranties on behalf of any other party, whether
express or implied, or to bind the other party in any respect whatsoever. 
 10.6. Expenses. Each party shall pay
their own expenses in connection with the negotiation of this Agreement. All fees and expenses incurred in connection with the resolution of Disputes shall be allocated as further provided in Section 10.11 below. 

10.7. Insurance. Customer shall procure and/or maintain at its own expense the following insurance and will use
commercially reasonable efforts to do so within sixty (60) days of the Effective Date: (i) commercial general liability insurance (including coverage for bodily injury, personal injury, property damage, contractual liability, products and
completed operations) in an amount not less than One Million Dollars ($1,000,000.00) per occurrence; (ii) umbrella excess liability insurance in an amount not less than One Million Dollars ($1,000,000.00); and (iii) an errors and omissions
insurance policy which covers Customer’s obligations hereunder in an amount not less than One Million Dollars ($1,000,000.00). Such insurance shall be written by an insurance company with a Best’s rating of at least A-VIII who is licensed
to do business in all states of the United States. Customer shall furnish certificates of insurance and such other appropriate documentation (including evidence of renewal of insurance) evidencing all insurance coverage’s set forth in this
Section 10.6. Such certificates of insurance and other documentation shall name Flextronics and its officers, directors and employees as additional insured. Such certificates of insurance and other documentation shall contain a broad form
naming Flextronics and its officers, directors and employees as an additional insured. Customer will provide Flextronics with at least thirty (30) days prior written notice of any cancellation or material alteration of the insurance coverage
set forth in this Section 10.6. Failure by Flextronics to receive or request the aforementioned certificates of insurance and other documentation shall not represent a waiver of the requirements for insurance coverage set forth in this
Section 10.7 
 10.8. Force Majeure. In the event that either party is prevented from performing or is unable
to perform any of its obligations under this Agreement (other than a payment obligation) due to any act of God, acts or decrees of governmental or military bodies, fire, casualty, flood, earthquake, war, strike, lockout, epidemic, destruction of
production facilities, riot, insurrection, Materials unavailability, or any other cause beyond the reasonable control of the party invoking this section (collectively, a “Force Majeure”), and if such party shall have used its
commercially reasonable efforts to mitigate its effects, such party shall give prompt written notice to the other party, its performance shall be excused, and the time for the performance shall be extended for the period of delay or inability to
perform due to such occurrences. Regardless of the excuse of Force Majeure, if such party is not able to perform within ninety (90) days after such event, the other party may terminate the Agreement. 

10.9. Successors, Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors, assigns and legal representatives. Neither party shall have the right to assign or otherwise transfer its rights or obligations under this Agreement except with the prior written consent of the other party, not to be
unreasonably withheld. Notwithstanding the foregoing, Flextronics may assign some or all of its rights and obligations under this Agreement to an affiliated Flextronics entity. 

10.10. Notices. All notices required or permitted under this Agreement will be in writing and will be deemed received
(a) when delivered personally; (b) when sent by confirmed facsimile; (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit
with a commercial overnight carrier. All communications will be sent to the addresses set forth above or to such other address as may be designated by a party by giving written notice to the other party pursuant to this section. 

  
 10 

 10.11. Disputes Resolution; Waiver of Jury Trial. 

(a) Except as otherwise provided in this Agreement, the following binding dispute resolution procedures shall be the exclusive means used
by the parties to resolve all disputes, differences, controversies and claims arising out of or relating to the Agreement or any other aspect of the relationship between Flextronics and Customer or their respective affiliates and subsidiaries
(collectively, “Disputes”). Either party may, by written notice to the other party, refer any Disputes for resolution in the manner set forth below. 
 (b) Any and all Disputes shall be referred to arbitration under the rules and procedures of Judicial Arbiter Group, Inc. (“JAG”), who shall act as the arbitration administrator (the
“Arbitration Administrator”). 
 (c) The parties shall agree on a single arbitrator (the
“Arbitrator”). The Arbitrator shall be a retired judge selected by the parties from a roster of arbitrators provided by the Arbitration Administrator. If the parties cannot agree on an Arbitrator within seven (7) days of
delivery of the demand for arbitration (“Demand”) (or such other time period as the parties may agree), the Arbitration Administrator will select an independent Arbitrator. 

(d) Unless otherwise mutually agreed to by the parties, the place of arbitration shall be Denver, Colorado, although the arbitrators may
be selected from rosters outside Denver. 
 (e) The Federal Arbitration Act shall govern the arbitrability of all Disputes. The
Federal Rules of Civil Procedure and the Federal Rules of Evidence (the “Federal Rules”), to the extent not inconsistent with this Agreement, govern the conduct of the arbitration. To the extent that the Federal Arbitration Act and
Federal Rules do not provide an applicable procedure, Colorado law shall govern the procedures for arbitration and enforcement of an award, and then only to the extent not inconsistent with the terms of this Section. Disputes between the parties
shall be subject to arbitration notwithstanding that a party to this Agreement is also a party to a pending court action or special proceeding with a third party, arising out of the same transaction or series of related transactions and there is a
possibility of conflicting rulings on a common issue of law or fact. 
 (f) Unless otherwise mutually agreed to by the parties,
each party shall allow and participate in discovery as follows: 
 (i) Non-Expert Discovery. Each party may
(1) conduct three (3) non-expert depositions of no more than five (5) hours of testimony each, with any deponents employed by any party to appear for deposition in Denver, Colorado; (2) propound a single set of requests for
production of documents containing no more than twenty (20) individual requests; (3) propound up to twenty written interrogatories; and (4) propound up to ten (10) requests for admission. 

(ii) Expert Discovery. Each party may select a witness who is retained or specially employed to provide expert testimony and an
additional expert witness to testify with respect to damages issues, if any. The parties shall exchange expert reports and documents under the same requirements as Federal Rules of Civil Procedure 26(a)(2) &(4). 

(iii) Additional Discovery. The Arbitrator may, on application by either party, authorize additional discovery only if deemed
essential to avoid injustice. In the event that remote witnesses might otherwise be unable to attend the arbitration, arrangements shall be made to allow their live testimony by video conference during the arbitration hearing. 

(g) The Arbitrator shall render an award within six (6) months after the date of appointment, unless the parties agree to extend
such time. The award shall be accompanied by a written opinion setting forth the findings of fact and conclusions of law. The Arbitrator shall have authority to award compensatory damages only, and shall not award any punitive, exemplary, or
multiple damages. The award (subject to clarification or correction by the arbitrator as allowed by statute and/or the Federal Rules) shall be final and binding upon the parties, subject solely to the review procedures provided in this Section.

 (h) Either party may seek arbitral review of the award. Arbitral review may be had as to any element of the award.

 (i) This Agreement’s arbitration provisions are to be performed in Denver, Colorado. Any judicial proceeding arising out
of or relating to this Agreement or the relationship of the parties, including without limitation any 

  
 11 

 
proceeding to enforce this Section, to review or confirm the award in arbitration, or for preliminary injunctive relief, shall be brought exclusively in a court of competent jurisdiction in the
county of Denver, Colorado (the “Enforcing Court”). By execution and delivery of this Agreement, each party accepts the jurisdiction of the Enforcing Court. 
 (j) Each party shall pay their own expenses in connection with the resolution of Disputes pursuant to this Section, including attorneys’ fees. 

(k) Notwithstanding anything contained in this Section to the contrary, in the event of any Dispute, prior to referring such Dispute to
arbitration pursuant to Subsection (b) of this Section, Customer and Flextronics shall attempt in good faith to resolve any and all controversies or claims relating to such Disputes promptly by negotiation commencing within ten
(10) calendar days of the written notice of such Disputes by either party, including referring such matter to Customer’s then-current President and Flextronics’s then current executive in charge of manufacturing operations in the
region in which the primary activities of this Agreement are performed by Flextronics. The representatives of the parties shall meet at a mutually acceptable time and place and thereafter as often as they reasonably deem necessary to exchange
relevant information and to attempt to resolve the Dispute for a period of four (4) weeks. In the event that the parties are unable to resolve such Dispute pursuant to this Subsection (k), the provisions of Subsections (a) through
(j) of this Section, inclusive, as well as Subsections (1), (m) and (n) of this Section shall apply. 
 (l) The
parties agree that the existence, conduct and content of any arbitration pursuant to this Section shall be kept confidential and no party shall disclose to any person any information about such arbitration, except as may be required by law or by any
governmental authority or for financial reporting purposes in each party’s financial statements. 
 (m) IN THE EVENT OF ANY
DISPUTE BETWEEN THE PARTIES, WHETHER IT RESULTS IN PROCEEDINGS IN ANY COURT IN ANY JURISDICTION OR IN ARBITRATION, THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY, AND HAVING HAD AN OPPORTUNITY TO CONSULT WITH COUNSEL, WAIVE ALL RIGHTS TO TRIAL BY
JURY, AND AGREE THAT ANY AND ALL MATTERS SHALL BE DECIDED BY A JUDGE OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW. 
 (n) In the event of any lawsuit between the parties arising out of or related to this Agreement, the parties agree to prepare and to timely file in the applicable court a mutual consent to waive any
statutory or other requirements for a trial by jury. 
 10.12. Even-Handed Construction. The terms and conditions
as set forth in this Agreement have been arrived at after mutual negotiation, and it is the intention of the parties that its terms and conditions not be construed against any party merely because it was prepared by one of the parties. 

10.13. Controlling Language. This Agreement is in English only, which language shall be controlling in all respects. All
documents exchanged under this Agreement shall be in English. 
 FLEXTRONICS CONFIDENTIAL 

10.14. Controlling Law. This Agreement shall be governed and construed in all respects in accordance with the domestic laws
and regulations of the State of Colorado, without regard to its conflicts of laws provisions; except to the extent there may be any conflict between the law of the State of Colorado and the Incoterms of the International Chamber of Commerce, 2000
edition, in which case the Incoterms shall be controlling. The parties specifically agree that the 1980 United Nations Convention on Contracts for the International Sale of Goods, as may be amended from time to time, shall not apply to this
Agreement. The parties acknowledge and confirm that they have selected the laws of the State of Colorado as the governing law for this Agreement in part because jury trial waivers are enforceable under Colorado law. The parties further acknowledge
and confirm that the selection of the governing law is a material term of this Agreement. 
 10.15. Counterparts.
This Agreement may be executed in counterparts. 

  
 12 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their duly authorized
representatives as of the Effective Date. 
  

									
	ENPHASE ENERGY, INC.:	 		 	FLEXTRONICS INDUSTRIAL, LTD:
					
	By:	 	 

	 		 	By:	 	 

	Title:	 	 CEO
	 		 	Title:	 	 Director

  
 13 

 Exhibit 1 
 Definitions 
  

			
	“Affected Inventory Costs”	  	shall mean: (i) [***]% of the Cost of all affected Inventory and Special Inventory in Flextronics’s possession and not returnable to the vendor or reasonably usable for
other customers, whether in raw form or work in process, less the salvage value thereof, (ii) [***]% of the Cost of all affected Inventory and Special Inventory on order and not cancelable, (iii) any vendor cancellation charges incurred with
respect to the affected Inventory and Special Inventory accepted for cancellation or return by the vendor, (iv) the then current fees for any affected Product, and (v) expenses incurred by Flextronics related to labor and equipment specifically put
in place to support the purchase orders and forecasts that are affected by such reschedule or cancellation (as applicable).
		
	-“Approved Vendor List” or “AVL”	  	shall mean the list of suppliers currently approved to provide the Materials specified in the bill of materials for a Product.
		
	“Confidential Information”	  	shall mean (a) the existence and terms of this Agreement and all information concerning the unit number and fees for Products and Inventory/Special Inventory and (b) any other
information that is marked “Confidential” or the like or, if delivered verbally, confirmed in writing to be “Confidential” within 30 days of the initial disclosure. Confidential Information does not include information that (i)
the receiving party can prove it already knew at the time of receipt from the disclosing party; or (ii) has come into the public domain without breach of confidence by the receiving party; (iii) was received from a third party without restrictions
on its use; (iv) the receiving party can prove it independently developed without use of or reference to the disclosing party’s data or information; or (v) the disclosing party agrees in writing is free of such restrictions.
		
	“Cost”	  	shall mean the cost represented on the bill of materials supporting the most current fees for Products at the time of cancellation, expiration or termination, as
applicable.
		
	“Customer Controlled Materials”	  	shall mean those Materials provided by Customer or by suppliers with whom Customer has a commercial contractual or non-contractual relationship.
		
	“Customer Controlled Materials Terms”	  	shall mean the terms and conditions that Customer has negotiated with its suppliers for the purchase of Customer Controlled Materials.
		
	“Customer Indemnitees”	  	shall have the meaning set forth in Section 9.1.
		
	“Damages”	  	shall have the meaning set forth in Section 9.1.
		
	“Disputes”	  	shall have the meaning set forth in Section 10.1 l(a)
		
	“Economic Order Inventory”	  	shall mean Materials purchased in quantities, above the required amount for purchase orders, in order to achieve price targets for such Materials.
		
	“Environmental Regulations”	  	Shall mean any hazardous substance content laws and regulations including, without limitation, those related to the EU Directive 2002/95/EC about the Restriction of Use of Hazardous
Substances (RoHS).
		
	“Fee List”	  	shall have the meaning set forth in Section 3.4.
		
	“Flexibility Table”	  	shall have the meaning set forth in Section 5.2.
		
	“Flextronics Indemnitee”	  	shall have the meaning set forth in Section 9.2.
		
	“Force Majeure”	  	shall have the meaning set forth in Section 10.8.
		
	“Inventory”	  	shall mean any Materials that are used to manufacture Products that are ordered pursuant to a

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 14 

			
		  	purchase order from Customer.
		
	“Lead Time (s)”	  	shall mean the Materials Procurement Lead Time plus the manufacturing cycle time required from the delivery of the Materials at Flextronics’s facility to the completion of the
manufacture, assembly and test processes.
		
	“Long Lead Time Materials”	  	shall mean Materials with Lead Times exceeding the period covered by the accepted purchase orders for the Products.
		
	“Materials”	  	shall mean components, parts and subassemblies that comprise the Product and that appear on the bill of materials for the Product.
		
	“Materials Procurement Lead Time”	  	shall mean with respect to any particular item of Materials, the longer of (a) lead time to obtain such Materials as recorded on Flextronics’s MRP system or (b) the actual lead
time, if a supplier has increased the lead time but Flextronics has not yet updated its MRP system.
		
	“Minimum Order Inventory”	  	shall mean Materials purchased in excess of requirements for purchase orders because of minimum lot sizes available from the supplier.
		
	“Monthly Charges”	  	shall mean a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the
Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture
Product or is otherwise purchased by Customer.
		
	“Product”	  	shall have the meaning set forth in Section 2.1.
		
	“Production Materials”	  	shall mean Materials that are consumed in the production processes to manufacture Products including without limitation, solder, epoxy, cleaner solvent, labels, flux, and glue.
Production Materials do not include any such production materials that have been specified by the Customer or any Customer Controlled Materials.
		
	“Special Inventory”	  	shall mean any Long Lead Time Materials and/or Minimum Order Inventory and/or Economic Order Inventory.
		
	“Specifications”	  	shall have the meaning set forth in Section 2.1.
		
	“Work”	  	shall have the meaning set forth in Section 2.1.

  
 15 

 EXHIBIT 2.1 
 SPECIFICATIONS 
 Incorporated by reference only 

 EXHIBIT 2.3 
 CONSIGNED EQUIPMENT LIST 
 To be attached or incorporated by reference 

 

			
	 Item
	  	 Manufacturer and Model

	Cabinet	  	Hammond Manufacturing
	PC	  	Dell Optiplex
	Barcode Scanner	  	Symbol Tech. LSR4208-SR2000722R
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
		
		  	Total Cost USD $[***]
		
	Hi-Pot Test Station - List Of Equipment	  	
		
	Dielectric Analyzer	  	[***]
		  	Total Cost USD $[***]

 Initial Potting Machine and Material Supply Infrastructure for China CM - PM01 

All Equipment supplied by Exact Dispensing (formerly known as Sheepscot) 

[***] 

[***] 

[***] 

[***] 

[***] 

[***] 

[***] 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 2 — 

 [***] 
 [***] 
 [***] 
 [***] 
 [***] 
 Estimated Value: USD $[***] 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 3 — 

 EXHIBIT 3.4 
 FEES LIST 
 To be attached or incorporated by reference 

 

																					
	 Product
	  	Minimum	 	 	Step 1	 	 	Step 2	 	 	Step 3	 	 	Step 4	 
	 PCU (Annual Quantity)
	  	 	50,000	  	 	 	87,000	  	 	 	150,000	  	 	 	225,000	  	 	 	350,000	  
	 PCU (Quarterly Quantity)
	  	 	12,500	  	 	 	21,750	  	 	 	37,500	  	 	 	56,250	  	 	 	87,500	  
	 Price
	  	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 
						
	 Dually (Annual Quantity)
	  	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  
	 Dually (Quarterly Quantity)
	  	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  
	 Price
	  	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  	 	 	TBD	  
						
	 EMU (Annual Quantity)
	  	 	2,100	  	 	 	3,700	  	 	 	4,400	  	 	 	6,600	  	 	 	7,800	  
	 EMU (Quarterly Quantity)
	  	 	525	  	 	 	925	  	 	 	1,100	  	 	 	1,650	  	 	 	1,950	  
	 Price
	  	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 	 	$	 [***	] 

 The following applies: 
  

	 	1.	During the ramp-up of the Customers product shipments (April 2009 -September 2009), Step 1 pricing will be used. 

 

	 	2.	Step quantities will be applied quarterly thereafter. The step quantities will be used as the basis for step pricing. 

 

	 	3.	A true-up will be performed at the end of each quarter, to apply the appropriate step price for that quantity. Overages in quantity will be applied to the next quarter
quantities. Additionally, a true up will be performed at the end of the first full year of production (April 2009 – April 2010) to make sure that customer has met the minimum quantity for step 1 pricing. Flextronics and customer will determine
an appropriate method to account for product changes from Raptor to Dually since Dually will only be built at one-half the quantity of Raptor. 

  

	 	4.	All scrap product will be purchased by the Customer, unless scrap was caused by Flextronics. Scrap will be shipped to customer and invoiced monthly.

  

	 	5.	The minimum quantity for each product must be reached each quarter except during the April 2009 – Sept 2009 ramp-up period. If the minimum quantity is not reached,
further cost recovery from the Customer will be required. 

  

	 	6.	Dually price will be quoted when RFQ is received. 

  

	 	7.	Pricing for new or replacement products will be quoted as required. 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 4 — 

 EXHIBIT 3.4 
 FEES LIST 
 To be attached or incorporated by reference 

NRE Tooling Schedule 
 NRE
for Enphase-Micro Inverter 
  

																									
	 	  	 	  	 	 	 	860-00003	 	 	830-00010	 	 	 	  	 	  	 
	 	  	 	  	 	 	 	Forecast	  	$716	 	 	Forecast	  	87,000	 	 	 	  	 	  	 
	 	  	 Equipment
	  	Unit price	 	 	Qty for
Final	  	Sum	 	 	Qty for
First	  	Sum	 	 	Lead time	  	 Lifecycle
	  	 Remark

	 Process
	  	Stencil (Trial Run)	  	US$	[***	] 	 	2	  	US$	[***	] 	 	2	  	US$	[***	] 	 	3 days	  	2 year life cycle	  	
	  	  
 Stencil (MP)
	  	US$	[***	] 	 	4	  	US$	[***	] 	 	6	  	US$	[***	] 	 	3 days	  	  	
	  	SMT programming	  	US$	[***	] 	 	10	  	US$	[***	] 	 	10	  	US$	[***	] 	 	3 days	  	  	
	  	Template for screen machine	  	US$	[***	] 	 	2	  	US$	[***	] 	 	6	  	US$	[***	] 	 	3 days	  	  	
	  	Template for placement machine	  	US$	[***	] 	 	2	  	US$	[***	] 	 	6	  	US$	[***	] 	 	3 days	  	  	
	  	Fixture for Band part	  	US$	[***	] 	 	2	  	US$	[***	] 	 	2	  	US$	[***	] 	 	3 days	  	  	
	  	Fixture for Final Assembly	  	US$	[***	] 	 	2	  	US$	[***	] 	 	4	  	US$	[***	] 	 	3 days	  	  	
	  	Wave soldering panel	  	US$	[***	] 	 	15	  	US$	[***	] 	 	15	  	US$	[***	] 	 	7 days	  	  	EOL7000times
	  	Fixture for touch up solder	  	US$	[***	] 	 	1	  	US$	[***	] 	 	2	  	US$	[***	] 	 	3 days	  	  	
	  	Fixture for PCBA clearing	  	US$	[***	] 	 	1	  	US$	[***	] 	 	1	  	US$	[***	] 	 	3 days	  	  	
	  	Inspection templet	  	US$	[***	] 	 	4	  	US$	[***	] 	 	6	  	US$	[***	] 	 	3 days	  	  	
	  	  
 PCB Division fixture
	  	US$	[***	] 	 	1	  	US$	[***	] 	 	2	  	US$	[***	] 	 	3 days	  	  	Spare part 1set
	  	Fixture for LCD assemble	  	US$	[***	] 	 		  	US$	[***	] 	 		  	US$	[***	] 	 	3 days	  	  	
	  	Nozzle for Mini-Wave	  	US$	[***	] 	 	0	  	US$	[***	] 	 	0	  	US$	[***	] 	 	5 days	  	  	Rework for MI part
	 Test
	  	ICT Fixture (TR518)	  	US$	[***	] 	 	1	  	US$	[***	] 	 	1	  	US$	[***	] 	 	21 days	  	EOL 300000times	  	
	  	Hil-Pot Fixture	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	21 days	  	EOL 500000times	  	
	Material Tooling	  	PCB, EMU_PLC	  	US$	[***	] 	 	1	  	US$	[***	] 	 		  	US$	[***	] 	 	6weeks	  		  	FOB HK
	  	STAMPING, BASE, M175. SINGLE, R7 PCB PCU	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	4Weeks	  		  	EXW OG
	  	STAMPING LID, M175, SINGLE, R7 PCB PCU	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	4weeks	  		  	EXW DG
	  	CBL ASSY, DC INPUT, M/F, TYPE III, WOVERMOLD	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	14 weeks	  		  	EXW
	  	CABLE ASSEMBLY, CPC BULKHEAD, AC, M/F, M175-240-24-S	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	14weeks	  		  	EXW
	  	PCB, PCU, M175-24-277-S	  	US$	[***	] 	 		  	US$	[***	] 	 	1	  	US$	[***	] 	 	8 weeks	  		  	FOB HK
		  		  				 		  	US$	[***	] 	 		  	US$	[***	] 	 		  		  	

 Assume, 
 1. The NRE Cost does not include Function teal Fixture and HASS forture 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 5 — 

 2. The NRE Cost does not include Potting equipment and forture 

3. The NRE does not include NRE for IC programming 
 4 Assume we will use TR51B to DO ICT 
 5. Exchange rate based on 1USD=6 836RMB and
1USD=7 764HKD 

  
 — 6
— 

 Follow-on NRE Tooling Schedule 

 

					
	 Item description
	  	 Cost(USD)
	  	 Comments

	 Stencil
	  	$ [***]	  	Typical charge but can vary according to pca design.
	 Template for screen machine
	  	$ [***]	  	Typical charge but can vary according to pca design
	 SMT Programming
	  	$ [***]/hr	  	Typically will take 10 hours to program SMT equipment depending on changes to original program.
	 Template for placement machine
	  	$ [***]	  	Typical charge but can vary according to pca design
	 Fixture for bend part
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function
	 Fixture for final assembly
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function
	 Wave solder panel
	  	$ [***]	  	Typical charge but can vary according to pca design
	 Fixture for touch-up solder
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function
	 Fixture for PCBA cleaning
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function
	 Inspection template
	  	$ [***]	  	$[***]
	 PCB division fixture
	  	$ [***]	  	$[***]
	 ICT Fixture
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function – based on TR518 equip.
	 ICT Programming
	  	$ [***]/hr	  	hrs will be quoted based on pca complexity and per ICT access
	 HI-POT Fixture
	  	$ [***]	  	Fixtures are unique and will be quoted based on its intended function

 The table assumes that there is no significant change in product design between revisions. Extensive changes to the
product that will require higher costs will be agreed to by both Flextronics and EnPhase. 
 These costs shall be reviewed on a bi-annual basis
to make adjustments for cost increases on wages, overhead and materials. 
 Context Engineering Fee Schedule (Chinese National rates)*

  

			
	 Item description
	  	 Cost (USD)

	 Sr. Test Engineer (Mgr level)
	  	$[***]-$[***]/month
	 Test Engineer
	  	$[***]-$[***]/month
	 Sr. Test Technician
	  	$ [***]-$[***]/month

  

	*	Similar rates for process engineers 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 7 — 

 NPI FEES 
 To be attached or incorporated by reference 
 Quote Summary for PCU NPI 

 

					
	 Quantity
	  	 	30	  
	 Depreciation Cost
	  	 	US$ [***]	  
	 Direct Labor Cost
	  	 	US$ [***]	  
	 Indirect Direct Labor Cost
	  	 	US$ [***]	  
	 SG & A (3% at BOM cost)
	  	 	US$ [***]	  
	 IDM&packing Cost
	  	 	US$ [***]	  
	 Power consumption and facility cost
	  	 	US$ [***]	  
	 Material Loss / Scrap (1%)
	  	 	US$ [***]	  
	 Total Manufacturing Cost/Unit
	  	 	US$ [***]	  
	 BOM Cost
	  	 	US$ [***]	  
	 Profit
	  	 	[***]	% 
	 Target sales price
	  	 	US$ [***]	  
	 VAM/Unit
	  	 	US$ [***]	  
	 Total VAM
	  	 	US$ [***]	  
	 NRE cost
	  	 	US$ [***]	  

 Remark: 
 1. The cost does not include logistics cost 
 2. The cost does not include potting
process cost 
 3. The cost does not include Function tester depreciation 

4. The NRE cost is for pilot run only 
 5. The cost includes ICT, Hi-Pot and Function only 
 6. The pilot run production
does not carry warranty 
 7. The cost does not include DFX 

8. The NRE cost will according to actual cost 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 8 — 

 TABLE OF ASSUMPTIONS 
 1) To perform Industrial Engineering analysis. 
 2) This is a prelim quote for Enphase –
Micro Inverter PCBA 
 3) Demand state: EMU: 3716/year, PCU: 87K/year 
 4) The calculated manpower and cycle time is estimated , strictly based on process flow provided by customer 
  

	 	1	This quotation is based upon the information and documentation provided by customer. All product changes subsequent to initial quotation and prior to initial production
are subject to the re-quotation of pricing. 

  

	 	2	Payment terms are [***]. 

  

	 	3	NRE Payment Terms: [***] 

  

	 	4	Pricing is valid for quoted volumes only. If actual volumes do not meet quoted volume, pricing will be adjusted per Exhibit 3.4. 

 

	 	5	The Customer bears the cost of administration, test labor, rework cost, packaging, and return freight for items returned to Flextronics NDF (No Defect Found).

  

	 	6	Process are quoted as Lead-Free Compliant. 

  

	 	7	Pricing is exclusive of all taxes, duties, similar charges, unless otherwise noted 

 

	 	8	This quotation is valid for a period of 30 days from the date of this quotation. Flextronics reserves the right to revise this quotation for orders placed past this
30-day period. 

  

	 	9	All product changes subsequent to initial quotation and prior to initial production are subject to re-quotation of pricing All engineering change orders shall be priced
separately from this quotation and subject to Section 2.2. 

  

	 	10	Both parties shall sign a Manufacturing Service Agreement once services and price are agreed upon. 

 

	 	1	Lead-Free process was used for the labor portion of this quotation unless otherwise noted. 

 

	 	2	Quote assumes design is fully optimized to Flextronics standards for manufacturability (DFM & DFT will be quoted separately) 

 

	 	3	All workmanship performed at Flextronics will adhere strictly to the IPC-A-610D standard. 

 

	 	4	Quote may be revised to reflect actual yield and test times. 

  

	 	5	Any additional work, inclusive of development, prototyping, qualification activities, as well as design and related rework are excluded and will incur additional
charges. 

  

	 	6	Changes in fabrication, tooling and fixturing arising from engineering, logistics and packaging changes are excluded from the pricing. 

 

	 	7	NRE does not include NRE for programming for components unless otherwise noted. 

 

	 	8	Maintenance costs, including spares and replacement parts of consigned functional test equipment and fixtures are not included in this quote. 

 

	 	9	Assume ICT run in [***] Tester. 

  

	 	10	Assume all Function testers, HAAS tester will be consigned 

  

	 	11	Quote does not include nitrogen cost 

  

	 	12	Assume all potting equipment, tools and unique accessories will be consigned 

 

	 	12	All test time has been provided by customer 

  

	 	1	CBOM supplied by Global material team. 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 9 — 

	1	Shipment term DDP to Flextronics California 

  

	1	After called and email with Peihua.the variance between DG and Enphase are: 

 

	 	1.	The temperature range is the same, [***]. 

  

	 	2.	Temperature cycling rate is [***] for Enphase and [***] for DG. 

 

	 	3.	Recycle time is 5min for ambient to cold and 5min for ramp up to hot.DG is [***] respectively. 

 

	2	Therefore, considering the machine size, the usage for Enphase will be almost the same as DG. 

 

	3	The [***] for [***] is about: [***]. 

  

	4	The Price of [***] is about [***] so the cost is about [***]  

 

	5	Base on the demand (2009 and 2010), the average UPH is about 1000pcs/day. 

 Therfore the cost for each piece is about [***] 

  
 [***] = CERTAIN INFORMATION
ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
 — 10 —

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