Document:

Master Agreement

 Exhibit 10.2 
 MASTER AGREEMENT 
 This MASTER AGREEMENT, dated as of December 23,
2011 (this “Agreement”), is by and among SunPower Corporation, a Delaware company (“SunPower”), Total Gas & Power USA, SAS, a société par actions simplifiée
organized under the laws of the Republic of France (“Total G&P”), and Total S.A., a société anonyme organized under the laws of the Republic of France (the “Guarantor”).
Capitalized terms used herein and not otherwise defined herein, shall have the meaning ascribed to such terms in the Tender Offer Agreement (defined below). 
 W I T N E S S E T H: 
 WHEREAS, by the terms of that certain Tender Offer
Agreement, dated as of April 28, 2011, by and between SunPower and Total G&P (the “Tender Offer Agreement”), as amended by that certain Amendment to Tender Offer Agreement, dated as of June 7, 2011, by and
between SunPower and Total G&P (the “Tender Offer Amendment” and collectively with the Tender Offer Agreement, the “TO Agreement”), as guaranteed by the Total S.A. Tender Offer Guaranty, Total
G&P did, among other things, (a) acquire approximately 60% of the shares of the common stock of SunPower outstanding as of the close of business on April 27, 2011, (b) agree to certain restrictions on its further ability to
acquire additional shares of common stock of SunPower, pursuant to the terms of the Affiliation Agreement as the same was amended by the Amendment to Affiliation Agreement, dated June 7, 2011, by and between SunPower and Total G&P (the
“Affiliation Amendment” and collectively with the Affiliation Agreement, the “Amended Affiliation Agreement”), as guaranteed by the Total S.A. Affiliation Agreement Guaranty, (c) provide credit
support to SunPower through, inter alia, the Credit Support Agreement as the same was amended by the Amendment to Credit Support Agreement, dated June 7, 2011, by and among SunPower and Guarantor (the “CSA Amendment” and
collectively with the Credit Support Agreement, the “Amended CSA”), (d) agree to collaborate on certain intellectual property matters, pursuant to the terms of the R&D Agreement as the same was amended by the
Amendment to Research and Collaboration Agreement, dated June 7, 2011, by and between SunPower and Total G&P (the “R&D Amendment” and collectively with the R&D Agreement, the “Amended R&D
Agreement”); 
 WHEREAS, at the time SunPower and Total G&P signed the Tender Offer Agreement, they also signed
a non-binding letter of intent (the “Original Tenesol Term Sheet”) whereby they set forth the preliminary understanding of the parties for the potential acquisition (the “Acquisition”) by SunPower of
Tenesol SA (“Tenesol”) from Total G&P, which Acquisition (a) would include (1) the French assets (including but not limited to two module manufacturing facilities in France (Toulouse and Carling) and system
activities in France) presently owned as part of the operations of Tenesol, and (2) the non-French overseas assets (including module manufacturing facilities in South Africa (Cape Town), system activities in Europe and Rest of the World,
including off-grid business and access to energy activities in Africa), (b) but would exclude any French-overseas assets (i.e. the assets held by Tenesol in the French “Departement d’Outre Mer” and
“Territoire d’Outre Mer” which were to be owned by a new entity “Tenesol Overseas” after corporate restructuring prior to the closing of the transaction); 

WHEREAS, by the terms of the Original Tenesol Term Sheet, subject to further negotiations, SunPower and Total G&P set forth the
tentative terms for pursuing the Acquisition at a target purchase price of approximately $167 million for 100% of the Tenesol shares, subject to additional detailed due diligence and resulting potential adjustments, which purchase price was to be
payable at SunPower’s option in some combination of cash (a portion of which could be subject to installment terms to be agreed between the parties) and SunPower stock, with such shares of SunPower stock valued at the same price paid in the
Offer; 
 WHEREAS, the solar industry has undergone significant changes since the time the parties agreed the terms of the Offer
and signed the Original Tenesol Term Sheet; 
 WHEREAS, the parties remain interested in pursuing the Acquisition, but on
substantially different terms than set forth in the Original Tenesol Term Sheet; 

 WHEREAS, for its part, Total G&P is no longer willing to accept as consideration for the
Acquisition, SunPower stock valued at the same price it paid in the Offer; 
 WHEREAS, for its part, SunPower is no longer
willing to pay $167 million for Tenesol, without other substantial value; 
 WHEREAS, the parties did, on November 15,
2011, execute a newly revised, non-binding term sheet setting forth new terms for the Acquisition, including additional deal terms as noted below; and 
 WHEREAS, for its part, SunPower is willing to pursue the Acquisition (a) on revised terms as agreed to by Total G&P and SunPower in the definitive Tenesol Stock Purchase Agreement, a form of
which is attached as Exhibit 1 hereto (the “Acquisition Agreement”), (b) with an amendment to the Amended CSA to increase to $725,000,000 the Maximum L/C Amount to support SunPower’s performance of
construction services related to the CVSR Project, in the form of Exhibit 2 hereto (the “CSA Second Amendment”), (c) with an amendment to the Amended Affiliation Agreement to increase the permitted
indebtedness thereunder among other things, in the form of Exhibit 3 hereto (the “Affiliation Agreement Second Amendment”), (d) with an agreement from Total G&P to provide capital to SunPower through the
purchase of shares of common stock in a private placement, expected to close, subject to certain conditions, on or before February 20, 2012, in accordance with the terms set forth in Exhibit 4 hereto (the “Private
Placement Agreement”), (e) with the research and development support described in Schedule 1 hereto, and (f) with the agreement from Total G&P to purchase photovoltaic equipment in accordance with the PV
Purchase Commitment set forth in Section 1.7 hereof. 
 NOW, THEREFORE, in consideration of the foregoing premises
and the representations, warranties, covenants and agreements set forth herein, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and accepted, and intending to be legally bound hereby,
SunPower, Total G&P and Guarantor hereby agree as follows: 
 ARTICLE I 

RELATED TRANSACTIONS 
 Section 1.1 Tenesol Purchase Agreement. On or before December 30, 2011 (the “Execution Date”), SunPower and Total G&P agree, subject to the conditions
set forth in Article II hereto, to execute and deliver the agreements and take the actions specified in this Article I. 
 Section 1.2 Acquisition Agreement. On the Execution Date, SunPower and Total G&P agree to sign the Acquisition Agreement in the form of Exhibit 1 hereto. 

Section 1.3 CSA Second Amendment. In anticipation of the transactions contemplated herein, on December 12, 2011,
SunPower and the Guarantor entered into the CSA Second Amendment in the form of Exhibit 2 hereto, providing that the benefits of such amendment would revert if the Acquisition was not closed by March 1, 2012. 

Section 1.4 Affiliation Agreement Second Amendment. 

(a) On the Execution Date, SunPower and Total G&P agree to sign the Affiliation Agreement Second Amendment in the form of
Exhibit 3 hereto. 
 (b) Guarantor hereby acknowledges and agrees that the Amended Affiliation Agreement, as amended
by the Affiliation Agreement Second Amendment, shall, upon the execution and delivery of the Affiliation Agreement Second Amendment by SunPower and Total G&P, be included in the definition of “Obligations” under the Total
S.A. Affiliation Agreement Guaranty issued by Guarantor for and in favor of SunPower, so that such definition shall include the Amended Affiliation Agreement as amended by the Affiliation Agreement Second Amendment. 

  
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 Section 1.5 Private Placement Agreement. On the Execution Date, SunPower
and Total G&P agree to sign the Private Placement Agreement in the form of Exhibit 4 hereto. 

Section 1.6 R&D Support. Subject to any necessary prior approval from, or notification of, any Governmental
Authority, and in accordance with the terms and procedures set forth in the R&D Agreement relating to scope of any “Long-Term Project” or any “Short or Medium Term Project” (as each term is defined in the R&D Agreement),
SunPower and Total G&P agree to work in good faith to appropriately document the agreement to the principles set forth in Schedule 1 hereto. 
 Section 1.7 PV Purchase Commitment. Subject to (a) Guarantor and SunPower agreeing upon the terms and conditions of the appropriate agreements and pricing, such terms to be
negotiated in good faith and on arm’s length basis, and (b) prior approval thereof by any decision-making bodies of Guarantor and SunPower, Guarantor hereby agrees that it or its Affiliated Companies shall: 

(i) purchase 10 megawatts of modules from SunPower, over the next two years, for installation by SunPower or its designee in South Africa
or other mutually agreed location; and 
 (ii) develop a multi-megawatt project in a high DNI (e.g. Middle East) with
SunPower’s C7 product. 
 For the purposes of this clause, Affiliated Companies means all and any entity in which Total owns, directly or
indirectly, at least 10 % of the share capital or other the voting rights. 
 ARTICLE II 

CONDITIONS 

Section 2.1 Upon the Execution Date, each of the Related Agreements shall become effective (or in the case of the CSA Second
Amendment, remain effective), pursuant to its terms and independent of the terms of this Agreement, subject only to the condition that no such Related Agreement (with the exception of the CSA Second Amendment) shall become effective until all such
Related Agreements have been executed pursuant to Article I above. 
 ARTICLE III 

GENERAL PROVISIONS 
 Section 3.1 Certain Defined Terms. As used in this Agreement, the following terms have the following meanings: 
 “Acquisition” shall have the meaning ascribed to such term in the recitals hereto. 
 “Acquisition Agreement” shall have the meaning ascribed to such term in the recitals hereto. 
 “Affiliation Agreement Second Amendment” shall have the meaning ascribed to such term in the recitals hereto. 

“Affiliation Amendment” shall have the meaning ascribed to such term in the recitals hereto. 

“Agreement” shall have the meaning ascribed to such term in the recitals hereto. 

“Amended Affiliation Agreement” shall have the meaning ascribed to such term in the recitals hereto. 

“Amended CSA” shall have the meaning ascribed to such term in the recitals hereto. 

“Amended R&D Agreement” shall have the meaning ascribed to such term in the recitals hereto. 

  
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 “Business Day” means any day, other than a Saturday, Sunday or any
day which is a legal holiday under the laws of France, the State of California or New York or is a day on which banking institutions located in France, the State of California or New York are authorized or required by Law or other governmental
action to close. 
 “CSA Amendment” shall have the meaning ascribed to such term in the recitals hereto.

 “CSA Second Amendment” shall have the meaning ascribed to such term in the recitals hereto.

 “Execution Date” shall have the meaning ascribed to such term in Section 1.1 hereto.

 “Governmental Authority” means any government, any governmental or regulatory entity or body,
department, commission, board, agency, instrumentality or self-regulatory organization, and any court, tribunal or judicial body, in each case whether federal, state, county, provincial or local, and whether domestic or foreign. 

“Legal Proceeding” means any action, suit, litigation, arbitration, criminal prosecution or other legal
proceeding pending before any Governmental Authority. 
 “Person” means any individual, corporation
(including any non-profit corporation), general partnership, limited partnership, limited liability partnership, joint venture, estate, trust, company (including any limited liability company or joint stock company), firm or other enterprise,
association, organization, entity or Governmental Authority. 
 “Private Placement Agreement” shall have
the meaning ascribed to such term in the recitals hereto. 
 “R&D Amendment” shall have the meaning
ascribed to such term in the recitals hereto. 
 “Related Agreements” means the Acquisition Agreement,
the CSA Second Amendment, the Affiliation Agreement Second Amendment and the Private Placement Agreement. 
 “Related
Transactions” means the transactions contemplated by the Related Agreements. 

“Representatives” means, with respect to any Person, any directors, officers, employees, controlled Affiliates
and any investment bankers, attorneys, advisors, representatives or other agents of such Person. 

“SunPower” shall have the meaning ascribed to such term in the recitals hereto. 

“Tender Offer Agreement” shall have the meaning ascribed to such term in the recitals hereto. 

“Tender Offer Amendment” shall have the meaning ascribed to such term in the recitals hereto. 

“Tenesol” shall have the meaning ascribed to such term in the recitals hereto. 

“TO Agreement” shall have the meaning ascribed to such term in the recitals hereto. 

“Transaction Documents” means this Agreement, the Acquisition Agreement, the Amended CSA, the CSA Second
Amendment, the Total S.A. Credit Support Guaranty, the Amended Affiliation Agreement, the Affiliation Agreement Second Amendment, the Total S.A. Affiliation Agreement Guaranty and the Private Placement. 

Section 3.2 Terms Generally; Interpretation. Except to the extent that the context otherwise requires: 

(a) when a reference is made in this Agreement to an Article, Section, Subsection, Exhibit, Schedule or Recitals, such reference is to an
Article, Section or Subsection of, an Exhibit or Schedule or the Recitals to, this Agreement unless otherwise indicated; 
 (b)
the table of contents and headings for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement; 

  
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 (c) the words “include,” “includes” or “including” (or similar
terms) are deemed to be followed by the words “without limitation”; 
 (d) the words “hereof,”
“herein” and “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(e) any gender-specific reference in this Agreement include all genders; 

(f) the definitions contained in this Agreement are applicable to the other grammatical forms of such terms; 

(g) a reference to any legislation or to any provision of any legislation will include any modification, amendment or re-enactment
thereof, any legislative provision substituted therefore and all rules, regulations and statutory instruments issued or related to such legislation. 
 (h) if any action is to be taken by any party hereto pursuant to this Agreement on a day that is not a Business Day, such action will be taken on the next Business Day following such day; 

(i) references to a Person are also to its permitted successors and assigns; 

(j) the parties have participated jointly in the negotiation and drafting hereof; if any ambiguity or question of intent or
interpretation arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any provision hereof; no prior draft of
this Agreement nor any course of performance or course of dealing will be used in the interpretation or construction hereof; 

(k) no parol evidence will be introduced in the construction or interpretation of this Agreement unless the ambiguity or uncertainty in
issue is plainly discernable from a reading of this Agreement without consideration of any extrinsic evidence; and 
 (l)
although the same or similar subject matters may be addressed in different provisions of this Agreement, the parties intend that, except as reasonably apparent on the face of the Agreement or as expressly provided in this Agreement, each such
provision will be read separately, be given independent significance and not be construed as limiting any other provision of this Agreement (whether or not more general or more specific in scope, substance or content). 

Section 3.3 Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have
been duly delivered and received hereunder (i) four (4) Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid; (ii) one (1) Business Day after being sent for next Business Day
delivery, fees prepaid, via a reputable nationwide overnight courier service; (iii) if sent by facsimile transmission before 5:00 p.m. in the time zone of the receiving party, when transmitted and receipt is confirmed; (iv) if sent by
facsimile transmission after 5:00 p.m. in the time zone of the receiving party and receipt is confirmed, on the following Business Day; and (v) if otherwise actually personally delivered by hand, when delivered, in each case to the
intended recipient, at the following addresses or facsimile numbers (or at such other address or telecopy numbers for a party as shall be specified by similar notice): 
  

	 	(a)	if to SunPower: 

 77 Rio Robles
Street 
 San Jose, CA 95134 
 Attention: Chief Financial Officer 
 Telephone: 408-240-5500 

Facsimile: 408-240-5404 

  
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 E-mail: 
 With a copy to: 
 SunPower Corporation 

77 Rio Robles Street 
 San Jose, CA 95134 
 Attention: Navneet Govil, Vice President and Treasurer

 Telephone: 408-457-2655 
 E-mail: navneet.govil@sunpowercorp.com 
 With a copy to: 

SunPower Corporation 
 1414 Harbour Way South 
 Richmond, CA 94804 

Attention: General Counsel 
 Telephone: 510-540-0550 
 Facsimile: 510-540-0552 

E-mail: 
 with
a copy (which will not constitute notice) to: 
 Jones Day 

1755 Embarcadero Rd. 
 Palo Alto, CA 94303 
 United States of America 

Attention: R. Todd Johnson 
 Facsimile: 1-650-739-3900 
  

	 	(b)	if to Total G&P: 

 Total
Gas & Power USA, SAS 
 2, place Jean Millier 
 La Défense 6 
 92400 Courbevoie 

France 

Attention: Arnaud Chaperon, President 
 Facsimile: +33 1 47 44 27 90 
 with copies (which shall not constitute notice) to:

 Total S.A. 
 2, place Jean Millier 
 La Défense 6 

92400 Courbevoie 
 France 
 Attention: Humbert de Wendel, Senior Vice President Corporate Business

 Development 
 Facsimile: +33 1 47 44 50 95 
 Total S.A. 

2, place Jean Millier 
 La Défense 6 
 92400 Courbevoie 

France 

Attention: Jonathan Marsh, Vice President, Legal Director Mergers, 

Acquisitions & Finance 
 Facsimile: +33 1 47 44 43 05 

  
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	 	(c)	if to the Guarantor: 

 Total
S.A. 
 2, place Jean Millier 
 La Défense 6 
 92400 Courbevoie 

France 

Attention: Olivier Devouassoux, VP Subsidiary Finance Operations 

Telephone: +33 1 47 44 45 64 
 Facsimile: + 33 1 47 44 48 74 
 Email: olivier.devouassoux@total.com 

With a copy to: 

Total S.A. 
 2,
place Jean Millier 
 La Défense 6 
 92400 Courbevoie 
 France 

Attention: Christine Souchet, Subsidiary Finance Operations—Gas and 

Power 

Telephone: +33 1 47 44 72 11 
 Facsimile: +33 1 47 44 47 92 
 Email: christine.souchet@total.com 

With a copy to: 

Total S.A. 
 2,
place Jean Millier 
 La Défense 6 
 92400 Courbevoie 
 France 

Attention: Jonathan Marsh, Vice President, Legal Director 
 Mergers, Acquisitions & Finance 
 Telephone: +33 (0) 1 47 44 74 70

 Facsimile: +33 (0)1 47 44 43 05 
 Email: jonathan.marsh@total.com 
 Section 3.4 Severability. In
the event that any provision of this Agreement, or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and
the application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such illegal, void or unenforceable provision of this Agreement
with a legal, valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such illegal, void or unenforceable provision. 

Section 3.5 Entire Agreement. This Agreement and the agreements, documents, instruments and certificates among the
parties hereto as contemplated by or referred to herein, including the Transaction Documents constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, both
written and oral, among the parties with respect to the subject matter hereof. Each party hereto agrees that neither SunPower, on the one hand, nor Total G&P or the Guarantor, on the other hand, makes any representations or warranties, express
or implied, whatsoever, including as to the accuracy or completeness of any other information, made (or made available) by itself or any of its Representatives, with respect to, or in connection with, the negotiation, execution or delivery of this
Agreement or the transactions contemplated hereby, notwithstanding the delivery or disclosure to the other or the other’s 

  
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Representatives of any documentation of any other information with respect to any one or more of the foregoing; provided, however, that notwithstanding the foregoing or anything to
the contrary set forth in this Agreement, nothing in this Agreement shall relieve any party hereto for liability arising out of fraud or intentional misrepresentation. 
 Section 3.6 Assignment. Neither this Agreement nor any right, interest or obligation under this Agreement may be assigned or delegated by any party to this Agreement by operation of law
or otherwise without the prior written consent of the other parties to this Agreement and any attempt to do so will be void. 

Section 3.7 No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their
permitted assigns and nothing herein, express or implied, is intended to or will confer upon any other Person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 3.8 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of law thereof. 

Section 3.9 Specific Performance. The parties hereto agree that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached, and that money damages or other legal remedies would not be an adequate remedy for any such damages. It is accordingly agreed
that, in addition to any other remedy to which they are entitled at law or in equity, the parties hereto agree that, in the event of any breach or threatened breach by the SunPower, on the one hand, or Total G&P or the Guarantor, on the other
hand, of any of their respective covenants or obligations set forth in this Agreement, SunPower, on the one hand, and Total G&P or the Guarantor, on the other hand, shall be entitled to an injunction or injunctions to prevent or restrain
breaches or threatened breaches of this Agreement or to enforce compliance with, the covenants and obligations of the other under this Agreement. SunPower, on the one hand, and Total G&P or the Guarantor, on the other hand hereby agree not to
raise any objections to the availability of the equitable remedy of specific performance to prevent or restrain breaches or threatened breaches of this Agreement by such party (or parties), and to specifically enforce the terms and provisions of
this Agreement to prevent breaches or threatened breaches of, or to enforce compliance with, the covenants and obligations of such party (or parties) under this Agreement. The parties hereto further agree that (a) by seeking the remedies
provided for in this Section 3.9, a party shall not in any respect waive its right to seek any other form of relief that may be available to a party under this Agreement (including monetary damages) in the event that this Agreement has
been terminated or in the event that the remedies provided for in this Section 3.9 are not available or otherwise are not granted, and (b) nothing set forth in this Section 3.9 shall require any party hereto to institute
any proceeding for (or limit any party’s right to institute any proceeding for) specific performance under this Section 3.9 prior or as a condition to exercising any termination right (and pursuing damages after such termination),
nor shall the commencement of any Legal Proceeding pursuant to this Section 3.9 or anything set forth in this Section 3.9 restrict or limit any party’s right to terminate this Agreement in accordance the express terms
set forth herein or pursue any other remedies under this Agreement that may be available then or thereafter. 

Section 3.10 Other Remedies. Except as otherwise provided herein, any and all remedies herein expressly conferred upon
a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. 

Section 3.11 Consent to Jurisdiction. Each of the parties hereto irrevocably consents and submits itself and its
properties and assets to the exclusive jurisdiction and venue in any state court within the State of Delaware (or, if a state court located within the State of Delaware declines to accept jurisdiction over a particular matter, any court of the
United States located in the State of Delaware) in connection with any matter based upon or 

  
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arising out of this Agreement or the transactions contemplated hereby, agrees that process may be served upon them in any manner authorized by the laws of the State of Delaware for such Persons
and waives and covenants not to assert or plead any objection which such Person might otherwise have to such jurisdiction, venue and process. Each party hereto hereby agrees not to commence any Legal Proceedings relating to or arising out of this
Agreement or the transactions contemplated hereby in any jurisdiction or courts other than as provided herein. 

Section 3.12 Waiver Of Jury Trial. EACH OF SUNPOWER, TOTAL G&P AND GUARANTOR HEREBY IRREVOCABLY WAIVES ALL RIGHT
TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF SUNPOWER, TOTAL G&P OR GUARANTOR IN THE NEGOTIATION, ADMINISTRATION,
PERFORMANCE AND ENFORCEMENT HEREOF. 
 Section 3.13 Counterparts. This Agreement may be executed in one or
more counterparts, and by the different parties hereto in separate counterparts, each of which when executed will be deemed to be an original but all of which taken together will constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by telecopy or by electronic delivery in Adobe Portable Document Format or other electronic format based on common standards will be effective as delivery of a manually executed counterpart of this
Agreement. 

  
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 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed by their
respective duly authorized officers to be effective as of the date first above written. 
 TOTAL GAS & POWER USA, SAS

  

			
	By:	 	 /s/ Arnaud Chaperon

		 	Name:  Arnaud Chaperon
		 	Title:    President

 TOTAL S.A. 
  

			
	By:	 	 /s/ Patrick de La Chevardiere

		 	Name:   Patrick de La Chevardiere
		 	Title:     Chief Executive Officer

 SUNPOWER CORPORATION 
  

			
	By:	 	 /s/ Thomas H. Werner

		 	Name:  Thomas H. Werner
		 	Title:    Chief Executive Officer

 Schedule 1 

Research and Development Support 
 Capitalized terms used in this Schedule shall have the meaning ascribed to such terms in the R&D Agreement. During SunPower’s 2012-2015 fiscal years, the Total G&P financial contribution
under the Annual Provisional Collaboration Plan and Budget shall be at least $6,000,000 of R&D Collaboration funds annually, either in the form of operating expenses or for capital expenditures.Second Amendment to Credit Support Agreement

 Exhibit 10.3 
 SECOND AMENDMENT TO CREDIT SUPPORT AGREEMENT 
 This Second Amendment (this
“Amendment”) to the Credit Support Agreement, dated as of April 28, 2011, as amended by that Amendment to Credit Support Agreement, dated as of June 7, 2011 (as so amended and as further as amended, modified,
supplemented, extended or restated from time to time, the “Credit Support Agreement”), by and between Total S.A., a société anonyme organized under the laws of the Republic of France (the
“Guarantor”), and SunPower Corporation, a Delaware corporation (the “Company”), is made and entered into as of December 12, 2011 by and between the Guarantor and the Company. Capitalized terms used in
this Amendment and not otherwise defined herein shall have the meanings given to them in the Credit Support Agreement. 

WITNESSETH 

WHEREAS, the Guarantor and the Company anticipate entering into various agreements related to the purchase of Tenesol S.A., a subsidiary
of the Guarantor, by the Company, and in relation to such transactions desire to amend certain terms of the Credit Support Agreement to increase to $725,000,000 the Maximum L/C Amount set forth in clause (i) of the definition of “Maximum L/C
Amount” in Section 1(hh) of the Credit Support Agreement to support SunPower’s performance of construction services related to the CVSR Project. 
 NOW, THEREFORE, in consideration of the foregoing premises and the matters set forth herein, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
and accepted, and intending to be legally bound, the Guarantor and the Company hereby agree as follows: 
 1.
Amendments to Credit Support Agreement. 
 a. Clauses (i) and (ii) of the definition of “Maximum
L/C Amount” set forth in Section 1(hh) of the Credit Support Agreement are hereby amended and restated as follows: 
 “(i) for the period from the Effective Date through December 31, 2012, $725 million; 
 (ii) [removed and reserved];” 
 b. Section 2(b)(iv) of the Credit
Support Agreement is hereby amended and restated in its entirety to read as follows: 
 “(iv) such Proposed
Facility does not permit the issuance of L/Cs for any obligations of the Company or a Wholly-Owned Subsidiary other than (A) performance guarantees (for a period of up to two (2) years after completion of the applicable project) and
completion guarantees (until completion of the applicable project) of the Company or such Wholly-Owned Subsidiary with respect to engineering, procurement and construction services provided in connection with the Company’s UPP and LComm
businesses (including replacing unguaranteed L/Cs in existence as of the Effective Date for such purposes with new L/Cs to be issued under such Proposed Facility), (B) performance guarantees for engineered hardware packages not including
engineering, procurement and construction services for UPP projects for a period of up to two (2) years after completion of the applicable project, (C) the Other Permitted Purposes for a period of up to two (2) years, (D) certain
purchase, repayment and tax indemnity obligations of the Company or a Wholly-Owned Subsidiary existing as of the Effective Date supported by no more than three (3) L/Cs (of which two (2) L/Cs in an aggregate face amount of €10,675,609
relate to the Montalto Project and one (1) L/C in a face amount of $40,000,000 relates to the NorSun Supply Agreement) (which existing L/Cs will be replaced by L/Cs issued pursuant to a Guaranteed Facility with an expiration date no later than
the fifth anniversary of the Effective Date); and, (E) until January 15, 2013, letters of credit or demand guarantees that relate to the California Valley Solar Ranch project of the Company, issued pursuant to that certain Continuing
Agreement for Standby Letters of Credit and Demand Guarantees, dated as of September 27, 2011, by and 

  
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among the Company, SunPower Corporation, Systems, Deutsche Bank AG New York Branch and Deutsche Bank Trust Company Americas in an aggregate face amount outstanding at any time not to exceed
$230,909,528; provided, that, notwithstanding anything to the contrary in this Section 2(b)(iv), the Company will be permitted to have outstanding at any one time during the period described in Section 2(b)(iii) letters of credit for the
purposes described in clauses (A) and (B) above with a period of between two (2) and three (3) years and for an aggregate initial face amount of up to fifteen per cent (15%) of the then-applicable Maximum L/C Amount;”

 2. Agreement. All references to the “Agreement” set forth in the Credit Support
Agreement shall be deemed to be references to the Credit Support Agreement as amended by this Amendment. 
 3.
Headings. The headings set forth in this Amendment are for convenience of reference purposes only and shall not affect or be deemed to affect in any way the meaning or interpretation of this Amendment or any term or provision
hereof. 
 4. Confirmation of the Credit Support Agreement. Other than as expressly modified pursuant to
this Amendment, all provisions of the Credit Support Agreement remain unmodified and in full force and effect. The applicable provisions of Section 10 of the Credit Support Agreement shall apply to this Amendment mutatis mutandis.

 5. Closing of Tenesol Transaction. The parties agree that, if the contemplated purchase of Tenesol S.A.
has not been closed on or before March 1, 2012, the Company shall transfer or cause to be terminated any outstanding L/Cs not permitted under Section 2(b)(iv) of the Credit Support Agreement prior to the effectiveness of this Amendment out of any
Guaranteed Facility no later than March 30, 2012. 
 [Execution page follows.] 

  
 2 

 IN WITNESS WHEREOF, the Borrower and the Guarantor have caused this Amendment to be executed
by their respective duly authorized officers as of the date first written above. 
  

			
	 SUNPOWER CORPORATION,
 as the Company

		
	By:	 	/s/ Thomas H. Werner
	Name:  Thomas H. Werner
	Title:    Chief Executive Officer
	
	 TOTAL S.A.,

as the Guarantor

		
	By:	 	/s/ Patrick de La Chevardiere
	Name:   Patrick de La Chevardiere
	Title:     Chief Executive Officer

 [Signature Page to Second Amendment to Credit Support Agreement]

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