Document:

EX-10.2

 Exhibit 10.2 

REPOWERING SERVICES AGREEMENT 

THIS AGREEMENT is made as of the August 5, 2015, by and among TerraForm Global, Inc., a Delaware corporation
(“Global”), TerraForm Global, LLC, a Delaware limited liability company (“Global LLC”), TerraForm Global Operating LLC, a Delaware limited liability company (“Global Operating”), and SunEdison,
Inc., a Delaware corporation (the “Manager”). This Agreement shall become effective immediately prior to the consummation of the initial public offering of Global’s Class A Common Stock on the date first above written.

 RECITALS: 

WHEREAS, Global, Global LLC and Global Operating directly and indirectly, as applicable, hold interests in the Service Recipients (as
defined below). 
 WHEREAS, Global, Global LLC and Global Operating wish to sell and grant the Manager a right of first refusal to
provide certain services described in this Agreement to the Service Recipients from time to time, subject to the terms and conditions of this Agreement, and the Manager wishes to purchase and accept such right of first refusal to provide services to
the Service Recipients. 
 NOW THEREFORE in consideration of the mutual covenants and agreements contained in this Agreement and
other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows: 

ARTICLE 1. 

INTERPRETATION 
 1.1
Definitions 
 In this Agreement, except where the context otherwise requires, the following terms will have the following meanings:

 1.1.1 “Affiliate” means, with respect to a Person, any other Person that, directly or indirectly, through one or more
intermediaries, Controls or is Controlled by such Person, or is under common Control of a third Person. 
 1.1.2
“Agreement” means this Repowering Services Agreement, and “herein,” “hereof,” “hereby,” “hereunder” and similar expressions refer to this Agreement and include every instrument supplemental or
ancillary to this Agreement and, except where the context otherwise requires, not to any particular article or section thereof. 
 1.1.3
“Business Day” means every day except a Saturday or Sunday, or a legal holiday in the City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 

1.1.4 “Control” means the control by one Person of another Person in accordance with the following: a Person (“A”)
controls another Person (“B”) where A has the power to determine the management and policies of B by contract or status (for example the 

 
status of A being the managing member of B) or by virtue of beneficial ownership of or control over a majority of the voting or economic interests in B; and, for certainty and without limitation,
if A owns or has control over shares to which are attached more than 50% of the votes permitted to be cast in the election of directors to the Governing Body of B or A is the general partner of B, a limited partnership, then in each case A Controls
B for this purpose, and the term “Controlled” has the corresponding meaning. 
 1.1.5 “Energy Project” or
“Project” means a power generation project owned by any of the Service Recipients. 
 1.1.6 “Fair Market
Value” means the aggregate amount of fees that would be paid by a willing and able owner, operator or manager of an energy project similar to the relevant Energy Project and a willing and qualified provider of the relevant Services, neither
being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts. 
 1.1.7 “Feed-in
Tariff” means a performance-based incentive supporting renewable energy generation guaranteeing payments to a Service Recipient for total kWh produced, access to the grid and a long-term contract, and/or similar additional terms. 

1.1.8 “Global Group” means Global, Global LLC, Global Operating and their direct and indirect Subsidiaries. 

1.1.9 “Governing Instruments” means the certificate of incorporation, corporate charter, partnership agreement, limited
liability company operating agreement, bylaws or other corporate governance documents, as applicable, of each of the parties to the Agreement. 

1.1.10 “Governmental Authority” means any (i) international, national, multinational, federal, state, regional,
municipal, local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, board, bureau, agency or instrumentality, domestic or foreign, including ISO/RTOs, (ii) self-regulatory
organization or stock exchange, (iii) subdivision, agent, commission, board, or authority of any of the foregoing, or (iv) quasi-governmental or private body exercising any regulatory, expropriation or taxing authority under or for the
account of any of the foregoing. 
 1.1.11 “IFRS” means the International Financial Reporting Standards as issued by the
International Accounting Standards Board. 
 1.1.12 “Independent Committee” has the meaning set forth in the Management
Services Agreement by and among Global, Global LLC, Global Operating and the Manager. 
 1.1.13 “Laws” means any and all
applicable (i) laws, constitutions, treaties, statutes, codes, ordinances, principles of common law and equity, rules, regulations and municipal bylaws whether domestic, foreign or international, (ii) judicial, arbitral, administrative,
ministerial, departmental and regulatory judgments, orders, writs, injunctions, decisions, and awards of any Governmental Authority, and (iii) policies, practices and guidelines of any Governmental Authority which, although not actually having
the force of law, are considered by such Governmental Authority as requiring compliance as if having the force of law, and the term “applicable,” with respect to such Laws and in the context that refers to one or

  
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more Persons, means such Laws that apply to such Person or Persons or its or their business, undertaking, property or securities at the relevant time and that emanate from a Governmental
Authority having jurisdiction over the Person or Persons or its or their business, undertaking, property or securities. 
 1.1.14
“Manager Group” means the Manager and its Affiliates (other than any member of the Global Group) and any other Service Providers. 

1.1.15 “Management Services Agreement” means the Management Services Agreement by and among the parties hereto dated on or
about the date hereof. 
 1.1.16 “Permit” means any consent, license, approval, registration, permit or other authorization
granted by any Governmental Authority. 
 1.1.17 “Person” means any natural person, partnership, limited partnership,
limited liability partnership, joint venture, syndicate, sole proprietorship, company or corporation (with or without share capital), limited liability corporation, unlimited liability company, joint stock company, unincorporated association, trust,
trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or Governmental Agency, authority or entity however designated or constituted and pronouns have a similarly extended meaning. 

1.1.18 “Power Purchase Agreement” or “PPA” means each contract entered into between a Service Recipient, as
seller, and a third-party purchaser for the generation, purchase and sale of electricity and/or renewable energy credits (RECs), and certain other commercial terms related thereto. 

1.1.19 “Service Providers” means the Manager, or any member of the Manager Group that the Manager has arranged to provide the
Services to any Service Recipient. 
 1.1.20 “Service Recipient” means Global, Global LLC, Global Operating, as well as any
other direct and indirect Subsidiary of Global, Global LLC, Global Operating, as applicable, acquired or formed after the date hereof for the purpose of owning a Project and that receives Services from a Service Provider pursuant to this Agreement.

 1.1.21 “Services” means, with respect to an Energy Project, (i) re- powering the applicable Energy Project,
including without limitation services provided to analyze, design and replace or improve the Project through the modification of the Energy System or the installation of new components, but excluding any maintenance; and (ii) providing such
other services as may from time to time be reasonably requested by the Service Recipients relating to the foregoing. 
 1.1.22
“Subsidiary” means, with respect to any Person, (i) any other Person that is directly or indirectly Controlled by such Person, (ii) any trust in which such Person holds all of the beneficial interests or (iii) any
partnership, limited liability company or similar entity in which such Person holds all of the interests other than the interests of any general partner, managing member or similar Person. 

  
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 1.2 Headings and Table of Contents 

The inclusion of headings and a table of contents in this Agreement are for convenience of reference only and will not affect the construction
or interpretation hereof. 
 1.3 Interpretation 

In this Agreement, unless the context otherwise requires: 

1.3.1 words importing the singular shall include the plural and vice versa, words importing gender shall include all genders or the neuter,
and words importing the neuter shall include all genders; 
 1.3.2 the words “include,” “includes,”
“including,” or any variations thereof, when following any general term or statement, are not to be construed as limiting the general term or statement to the specific items or matters set forth or to similar items or matters, but rather
as referring to all other items or matters that could reasonably fall within the broadest possible scope of the general term or statement; 

1.3.3 references to any Person include such Person’s successors and permitted assigns; 

1.3.4 any reference to a statute, regulation, policy, rule or instrument shall include, and shall be deemed to be a reference also to, all
amendments made to such statute, regulation, policy, rule or instrument and to any statute, regulation, policy, rule or instrument that may be passed which has the effect of supplementing or superseding the statute, regulation, policy, rule or
instrument so referred to; 
 1.3.5 any reference to this Agreement or any other agreement, document or instrument shall be construed as a
reference to this Agreement or, as the case may be, such other agreement, document or instrument as the same may have been, or may from time to time be, amended, varied, replaced, amended and restated, supplemented or otherwise modified; 

1.3.6 in the event that any day on which any amount is to be determined or any action is required to be taken hereunder is not a Business Day,
then such amount shall be determined or such action shall be required to be taken at or before the requisite time on the next succeeding day that is a Business Day; and 

1.3.7 except where otherwise expressly provided, all amounts in this Agreement are stated and shall be paid in U.S. currency. 

ARTICLE 2. 
 RIGHT OF
FIRST REFUSAL 
 2.1 Purchase of Right of First Refusal; Purchase Price 

2.1.1 Global, Global LLC and Global Operating each hereby sell to Manager and Manager hereby purchases from Global, Global LLC and Global
Operating, an exclusive right of first refusal to provide (or arrange for another Service Provider to provide) any or all of the Services to the Service Recipients from time to time during the term of this Agreement. 

  
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 2.1.2 Concurrently with the execution and delivery of this Agreement, Manager shall pay each of
Global, Global LLC and Global Operating one hundred dollars ($100) as full consideration for the sale and grant of such right of first refusal to Manager. 

2.2 Terms of Right of First Refusal 

2.2.1 During the term of this Agreement, and subject to the terms and conditions specified below, Manager has a right of first refusal each
time a Service Recipient (the “Offering Service Recipient”) proposes to engage any Person to perform any Services in respect of a Project. Each time the Offering Service Recipient proposes to engage any Person to perform any
Service, the Offering Service Recipient shall first offer Manager the right to perform (or arrange for another Service Provider to perform) such Service in accordance with this Section 2.2. 

2.2.2 The Offering Service Recipient shall give written notice (the “Offering Service Recipient Notice”) to the Manager
stating its bona fide intention to engage a Person to provide one or more Services and specifying the material terms and conditions, including a Fair Market Value fee to be paid to Manager (or other Service Provider, as applicable), upon
which the Services would be provided. Upon request of the Manager, the relevant Offering Service Recipient shall provide a breakdown of the Fair Market Value fee for relevant parts of the Services and the supply of relevant components as would be
standard in the relevant market. 
 2.2.3 The Offering Service Recipient Notice will constitute the Offering Service Recipient’s offer
to Manager to provide (or arrange for another Service Provider to provide) the Services on the terms therein specified and shall be irrevocable for a period of fifteen (15) Business Days (the “ROFR Notice Period”). 

2.2.4 Upon receipt of the Offering Service Recipient Notice, Manager shall have until the end of the ROFR Notice Period to agree to provide
(or arrange for another Service Provider to provide) the Services or any separately broken out parts of the Services or supply of relevant components thereof as described in the Offering Service Recipient Notice by delivering a written notice (a
“ROFR Notice”) to the Offering Service Recipient stating that it agrees to provide (or arrange for another Service Provider to provide) such Services or part thereof on the terms specified in the Offering Service Recipient Notice.
If Manager delivers a ROFR Offer Notice to the Offering Service Recipient in accordance with this Section 2.2.4, Manager and such Offering Service Recipient shall thereafter negotiate in good faith and use their commercially reasonable
efforts to enter into all necessary agreements and other arrangements as soon as practicable thereafter. Notwithstanding the foregoing, if Manager delivers a ROFR Notice in accordance with this Section 2.2.4, except that it in good faith
states therein that the proposed fee for such Services is not in its opinion consistent with Fair Market Value (a “Limited ROFR Notice”), then the ROFR Notice Period shall be extended by another fifteen (15) Business Days from
the delivery of the Limited ROFR Notice, and the parties shall work in good faith during such extended ROFR Notice Period to mutually agree on a Fair Market Value of the fee to be paid by Manager for the provision of such Services. If the parties
are unable to agree on the Fair Market Value within the extended ROFR Notice Period, then Manager shall be deemed not to have provided a ROFR Notice and the provisions of the following Section 2.2.5 shall apply. 

  
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 2.2.5 If Manager fails to deliver a ROFR Offer Notice in accordance with
Section 2.2.4, it shall be deemed to have waived all of its rights to provide (or arrange for another Service Provider to provide) the specific Services with respect such Offering Service Recipient Notice, and the Offering Service
Recipient may, during the forty-five (45) day period following the expiration of the ROFR Notice Period engage another Person to perform such Services on terms and conditions no more favorable to such Person than those specified in the Offering
Service Recipient Notice. If the Offering Service Recipient does not engage a third party to perform the Services within such period or, if the Services are not commenced within three (3) months from the expiration of the ROFR Notice Period,
Manager’s right of first refusal provided hereunder shall be deemed to be revived and the provision of such Services shall not be offered to any third party unless first re-offered to Manager in accordance with this Section 2.2.

 2.2.6 Global, Global LLC and Global Operating each hereby expressly agree to cause each other Service Recipient to comply with the terms
of this Agreement, including, without limitation, this Section 2.2. 
 ARTICLE 3. 

RELATIONSHIP BETWEEN THE MANAGER AND THE SERVICE RECIPIENTS 

3.1 Other Activities 
 No
member of the Manager Group (and no Affiliate, director, officer, member, partner, shareholder or employee of any member of the Manager Group) shall be prohibited from engaging in other business activities or sponsoring, or providing services to,
third parties that compete directly or indirectly with the Service Recipients, whether or not the Manager has exercised its right of first refusal hereunder. Nothing in this Agreement will prohibit the Manager from acquiring or operating power
generation infrastructure assets that are contracted. 
 3.2 Independent Contractor, No Partnership or Joint Venture 

The parties acknowledge that to the extent the Manager provides Services pursuant to this Agreement the Manager provides or arranges for the
provision of the Services hereunder as an independent contractor and that the Service Recipients, on one hand, and the Manager, on the other hand, are not partners or joint venturers with each other, and nothing herein will be construed so as to
make them partners or joint venturers or impose any liability as such on any of them as a result of this Agreement; provided however that nothing herein will be construed so as to prohibit the Service Recipients and the Manager from embarking
upon an investment together as partners, joint venturers or in any other manner whatsoever. 

  
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 ARTICLE 4. 

COOPERATION 
 4.1 Access
to Information by Manager Group; Additional Actions 
 Each of Global, Global LLC and Global Operating shall, and shall cause the other
Service Recipients to: 
 4.1.1 grant, or cause to be granted, to the Manager Group full access to all documentation and information
reasonably necessary to enable Manager to provide the Services; 
 4.1.2 provide, or cause to be provided, all documentation and information
as may be reasonably requested by any member of the Manager Group, and promptly notify the appropriate member of the Manager Group of any material facts or information of which the Service Recipients are aware, including any known, pending or
threatened suits, actions, claims, proceedings or orders by or against any member of the Global Group before any Governmental Authority, that may affect Manager’s provision of Services; and 

4.1.3 take all actions as may be reasonably necessary to effectuate the transactions and agreements described herein. 

4.2 Access to Information by Service Recipients; Additional Actions 

The Manager shall, and shall cause the other members of the Manager Group to: 

4.2.1 grant, or cause to be granted, to the Global Group full access to all documentation and information reasonably necessary in order for
the Global Group to conduct their business; 
 4.2.2 provide, or cause to be provided, all documentation and information as may be
reasonably requested by any member of the Global Group, and promptly notify the appropriate Service Recipient of any material facts or information of which the Manager Group is aware, including any known, pending or threatened suits, actions,
claims, proceedings or orders by or against any member of the Manager Group before any Governmental Authority, that may affect the the Global Group in connection with Manager’s provision of Services; and 

4.2.3 take all actions as may be reasonably necessary to effectuate the transactions and agreements described herein. 

4.3 Additional Information 

The parties acknowledge and agree that conducting the activities and providing the Services contemplated herein may have the incidental effect
of providing additional information which may be utilized with respect to, or may augment the value of, business interests and related assets in which any of the Service Providers or any of its Affiliates has an interest and that, subject to
compliance with this Agreement, none of the Service Providers or any of their respective Affiliates will be liable to account to the Service Recipients with respect to such activities or results; provided, however, that the relevant
Service Provider will not (and will cause its Affiliates not to), in making any use of such additional information, do so in any manner that the relevant Service Provider or its Affiliates knows, or ought reasonably to know, would cause or result in
a breach of any confidentiality provision of agreements to which any Service Recipient is (or may become) a party or is (or may become) bound. 

  
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 ARTICLE 5. 

REPRESENTATIONS AND WARRANTIES 

OF THE MANAGER AND THE SERVICE RECIPIENTS 

5.1 Representations and Warranties of the Manager 

The Manager hereby represents and warrants to the Service Recipients that: 

5.1.1 it is validly organized and existing under the laws of the State of Delaware; 

5.1.2 it, or any another Service Provider, as applicable, holds, or will timely hold, such Permits as are necessary to perform its obligations
hereunder and is not aware of, or shall inform the Service Recipients promptly upon knowledge of, any reason why such Permits might be cancelled; 

5.1.3 it has the power, capacity and authority to enter into this Agreement and to perform its obligations hereunder; 

5.1.4 it has taken all necessary action to authorize the execution, delivery and performance of this Agreement; 

5.1.5 the execution and delivery of this Agreement by it and the performance by it of its obligations hereunder do not and will not
contravene, breach or result in any default under its Governing Instruments, or under any mortgage, lease, agreement or other legally binding instrument, Permit or applicable Law to which it is a party or by which it or any of its properties or
assets may be bound, except for any such contravention, breach or default which would not have a material adverse effect on the business, assets, financial condition or results of operations of the Manager; 

5.1.6 no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or
performance by it of this Agreement; and 
 5.1.7 this Agreement constitutes its valid and legally binding obligation, enforceable against
it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the enforcement of creditors’ rights and remedies generally
and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such principles are considered in a
proceeding at law or in equity. 

  
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 5.2 Representations and Warranties of the Service Recipients 

Global, Global LLC and Global Operating, each hereby represents and warrants, on its behalf and on behalf of each of the other Service
Recipients, to the Manager that: 
 5.2.1 it (and, if applicable, its managing member) is validly organized and existing under the Laws
governing its formation and organization; 
 5.2.2 it, or the relevant Service Recipient, holds such Permits necessary to own and operate
the projects and entities that it directly or indirectly owns or operates from time to time and is not aware of any reason why such Permits might be cancelled; 

5.2.3 it (or, as applicable, its managing member on its behalf) has the power, capacity and authority to enter into this Agreement and to
perform its duties and obligations hereunder; 
 5.2.4 it (or, as applicable, its managing member) has taken all necessary action to
authorize the execution, delivery and performance of this Agreement; 
 5.2.5 the execution and delivery of this Agreement by it (or, as
applicable, its managing member on its behalf) and the performance by it of its obligations hereunder do not and will not contravene, breach or result in any default under its Governing Instruments (or, if applicable, the Governing Instruments of
its managing member), or under any mortgage, lease, agreement or other legally binding instrument, Permit or applicable Law to which it is a party or by which any of its properties or assets may be bound, except for any such contravention, breach or
default which would not have a material adverse effect on the business, assets, financial condition or results of operations of the Service Recipients as a whole; 

5.2.6 no authorization, consent or approval, or filing with or notice to any Person is required in connection with the execution, delivery or
performance by it (or, as applicable, its managing member on its behalf) of this Agreement; and 
 5.2.7 this Agreement constitutes its
valid and legally binding obligation, enforceable against it in accordance with its terms, subject to: (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other laws of general application limiting the
enforcement of creditors’ rights and remedies generally; and (ii) general principles of equity, including standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of
equitable remedies, whether such principles are considered in a proceeding at law or in equity. 
 ARTICLE 6. 

TERM AND TERMINATION 
 6.1
Term and Termination 
 Unless earlier terminated by the mutual written consent of each of the parties hereto (with Global acting
through its Independent Committee), the term of this Agreement (the “Term”) shall commence on the date hereof and shall continue indefinitely. 

  
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 ARTICLE 7. 

GENERAL PROVISIONS 
 7.1
Amendment, Waiver 
 The parties may amend this Agreement only by a written agreement signed by the parties and that identifies itself
as an amendment to this Agreement, provided that, except as expressly provided in this Agreement, no amendment or waiver of this Agreement will be binding unless the prior approval of the Board of Directors of Global (acting through the Independent
Committee) is obtained and the amendment or waiver is executed in writing by the party to be bound thereby. No waiver of any provision of this Agreement will constitute a waiver of any other provision nor will any waiver of any provision of this
Agreement constitute a continuing waiver unless otherwise expressly provided. A party’s failure or delay in exercising any right under this Agreement will not operate as a waiver of that right. A single or partial exercise of any right will not
preclude a party from any other or further exercise of that right or the exercise of any other right. 
 7.2 Assignment 

7.2.1 This Agreement shall not be assigned by the Manager without the prior written consent of Global (acting through the Independent
Committee, as long as Manager Controls Global), except in the case of assignment to a Person that is the Manager’s successor by merger, consolidation or purchase of assets, in which case the successor shall be bound under this Agreement and by
the terms of the assignment in the same manner as the Manager is bound under this Agreement. In addition, provided that the Manager provides prior written notice to the Service Recipients for informational purposes only, nothing contained in
this Agreement shall preclude any pledge, hypothecation or other transfer or assignment of the Manager’ rights under this Agreement, including any amounts payable to the Manager under this Agreement, to a bona fide lender as security.

 7.2.2 This Agreement shall not be assigned by any of the Service Recipients without the prior written consent of the Manager, except in
the case of assignment by any such Service Recipient to a Person that is its successor by merger, consolidation or purchase of assets, in which case the successor shall be bound under this Agreement and by the terms of the assignment in the same
manner as such Service Recipient is bound under this Agreement. 
 7.2.3 Any purported assignment of this Agreement in violation of this
Article 7 shall be null and void. 
 7.3 Invalidity of Provisions 

Each of the provisions contained in this Agreement is distinct and severable and a declaration of invalidity or unenforceability of any such
provision or part thereof by a court of competent jurisdiction will not affect the validity or enforceability of any other provision hereof. To the extent permitted by applicable law, the parties waive any provision of law which renders any
provision of this Agreement invalid or unenforceable in any respect. The parties will engage in good faith negotiations to replace any provision which is declared invalid or unenforceable with a valid and enforceable provision, the economic effect
of which comes as close as possible to that of the invalid or unenforceable provision which it replaces. 

  
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 7.4 Entire Agreement 

This Agreement and any agreements later entered into as a result of Manager exercising its right of first refusal constitute the entire
agreement between the parties pertaining to the Services. There are no warranties, conditions, or representations (including any that may be implied by statute) and there are no agreements in connection with such subject matter except as
specifically set forth or referred to in this Agreement. No reliance is placed on any warranty, representation, opinion, advice or assertion of fact made either prior to, contemporaneous with, or after entering into this Agreement, by any party to
this Agreement or its directors, officers, employees or agents, to any other party to this Agreement or its directors, officers, employees or agents, except to the extent that the same has been reduced to writing and included as a term of this
Agreement, and none of the parties to this Agreement has been induced to enter into this Agreement by reason of any such warranty, representation, opinion, advice or assertion of fact. Accordingly, there will be no liability, either in tort or in
contract, assessed in relation to any such warranty, representation, opinion, advice or assertion of fact, except to the extent contemplated above. 

7.5 Mutual Waiver of Jury Trial 

AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT
WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 

7.6 Consent to Jurisdiction and Service of Process 

EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE
CITY AND COUNTY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER
AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH BELOW SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO
WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT
ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  
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 7.7 No Consequential Damages 

Notwithstanding anything to the contrary contained in this Agreement or provided for under any applicable law, no party hereto shall be liable
to any other Person, either in contract or in tort, for any consequential, incidental, indirect, special or punitive damages of such other Person, including loss of future revenue, or income or profits, or any diminution of value or multiples of
earnings damages relating to the breach or alleged breach hereof, whether or not the possibility of such damages has been disclosed to the other party in advance or could have been reasonably foreseen by such other party. 

7.8 Governing Law 
 The
internal law of the State of New York will govern and be used to construe this Agreement without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required
thereby. 
 7.9 Enurement 

This Agreement will enure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 

7.10 Notices 
 Any notice,
demand or other communication to be given under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed
electronic mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next Business Day, (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or
(iv) three Business Days after it is mailed to the recipient by first class mail, return receipt requested. Such notices, demands and other communications shall be sent to the addresses specified below, or at such address or to the attention of
such other Person as the recipient party has specified by prior written notice to the sending party. Any party may change such party’s address for receipt of notice by giving prior written notice of the change to the sending party as provided
herein. Notices and other communications will be addressed as follows: 
 If to the Services Recipients: 

TerraForm Global, Inc. 
 7550
Wisconsin Avenue, 9th Floor 
 Bethesda, Maryland 20814 

Attn: General Counsel 
 Facsimile:
(240) 762-7900 

  
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 If to the Manager: 

SunEdison, Inc. 
 13736 Riverport
Drive 
 Maryland Heights, Missouri 63043 

Attention: General Counsel 

Facsimile: (866) 773-0791 

7.11 Further Assurances 

Each of the parties hereto will promptly do, make, execute or deliver, or cause to be done, made, executed or delivered, all such further acts,
documents and things as the other party hereto may reasonably require from time to time for the purpose of giving effect to this Agreement and will use reasonable efforts and take all such steps as may be reasonably within its power to implement to
their full extent the provisions of this Agreement. 
 7.12 Counterparts 

This Agreement may be signed in counterparts and each of such counterparts will constitute an original document and such counterparts, taken
together, will constitute one and the same instrument. PDF or other electronic transmissions of this Agreement shall constitute an original counterpart. 

7.13 Specific Performance 

The parties agree that if a party materially breaches any provision of this Agreement or materially fails to perform any provision in
accordance with its specific terms, irreparable damage could occur, no adequate remedy at Law may exist and damages would be difficult to determine, and that each party shall be entitled to seek an injunction and/or specific performance of the terms
of this Agreement, in addition to any other contractual remedy, at law, in equity, or otherwise, to which it may be entitled. 
 [Signature
pages follow] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	TERRAFORM GLOBAL, INC.
		
	By:	 	 /s/ Yana Krautsova

	Name:	 	Yana Krautsova
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	TERRAFORM GLOBAL, LLC
		
	By:	 	 /s/ Yana Krautsova

	Name:	 	Yana Krautsova
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	TERRAFORM GLOBAL OPERATING, LLC
		
	By:	 	 /s/ Yana Krautsova

	Name:	 	Yana Krautsova
	Title:	 	Senior Vice President, General Counsel and Secretary

  
 [Signature page to
Repowering Services Agreement] 
  
 14 

 
			
	SUNEDISON, INC. as Manager
		
	By:	 	 /s/ Brian Wuebbels

	Name:	 	Brian Wuebbels
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Repowering Services Agreement] 
  
 15EX-10.3

 Exhibit 10.3 

EXCHANGE AGREEMENT 

This EXCHANGE AGREEMENT (this “Agreement”), dated as of August 5, 2015, is made by and among TerraForm Global, Inc., a
Delaware corporation (the “Corporation”), TerraForm Global, LLC, a Delaware limited liability company (“Global LLC”), SunEdison, Inc. (“SunEdison”) and the other Persons from time to time party
hereto in accordance with Section 4.1 hereof (collectively with SunEdison, the “Global LLC Unitholders”). 

WHEREAS, the parties hereto desire to provide for the exchange of certain Global LLC Units and Class B or Class B1 Common Stock, as
applicable, for shares of Class A Common Stock (each as defined herein), upon the election of a Global LLC Unitholder, whereby (a) such Global LLC Unitholder would surrender all or a portion of its Global LLC Units and a corresponding
number of shares of Class B or Class B1 Common Stock, as applicable, to Global LLC, (b) the Corporation will issue and contribute a corresponding number of shares of Class A Common Stock to Global LLC for delivery of such shares by Global
LLC to the exchanging Global LLC Unitholder, (c) Global LLC will issue a corresponding number of additional Class A Units (as defined herein) to the Corporation, (d) Global LLC will cancel the surrendered Global LLC Units and the
Corporation will cancel the corresponding shares of Class B or Class B1 Common Stock, as applicable (each as defined herein), and (e) Global LLC will deliver the shares of Class A Common Stock it receives from the Corporation to the
exchanging Global LLC Unitholder, in each case on the terms and subject to the conditions set forth herein. 
 WHEREAS, the parties hereto
desire that the exchange of Global LLC Units and the Class B or Class B1 Common Stock, as applicable, for shares of Class A Common Stock pursuant to this Agreement constitute a taxable sale or exchange, for federal income tax purposes, of
Global LLC Units by the applicable Global LLC Unitholder in exchange for Class A Common Stock (in conjunction with the cancellation of Class B or Class B1 Common Stock, as applicable). 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 

Section 1.1 Effective Time. This Agreement shall become effective immediately prior to the consummation of the initial public
offering of the Class A Common Stock on the date first above written (the “Effective Time”). 
 Section 1.2
Definitions. Capitalized terms used but not defined herein shall have the respective meanings ascribed thereto in the Global LLC Operating Agreement (as defined herein), and the following definitions shall be for all purposes, unless
otherwise clearly indicated to the contrary, applied to the terms used in this Agreement. 
 “Applicable Securities Laws”
means the Securities Act of 1933, as amended (the “Securities Act”), and any applicable securities laws of a state or foreign jurisdiction. 

 “Class A Common Stock” means the Class A common stock, par value $0.01 per
share, of the Corporation. 
 “Class A Units” means the Class A Units of Global LLC, with such rights and privileges
as set forth in the Global LLC Operating Agreement. 
 “Class B Common Stock” means the Class B common stock, par value
$0.01 per share, of the Corporation. 
 “Class B Units” means the Class B Units of Global LLC, with such rights and
privileges as set forth in the Global LLC Operating Agreement. 
 “Class B1 Common Stock” means the Class B1 common stock,
par value $0.01 per share, of the Corporation. 
 “Class B1 Units” means the Class B1 Units of Global LLC, with such rights
and privileges as set forth in the Global LLC Operating Agreement. 
 “Code” means the Internal Revenue Code of 1986, as
amended. 
 “Effective Time” has the meaning set forth in Section 1.1 of this Agreement. 

“Election of Exchange” has the meaning set forth in Section 2.1(b) of this Agreement. 

“Exchange” has the meaning set forth in Section 2.1(a) of this Agreement. 

“Exchange Date” has the meaning set forth in Section 2.1(b) of this Agreement. 

“Exchange Rate” means the number of shares of Class A Common Stock for which a Global LLC Unit is entitled to be
Exchanged. On the date of this Agreement, the Exchange Rate shall be 1, subject to adjustment pursuant to Section 2.2 of this Agreement. 

“Global LLC Operating Agreement” means the Amended and Restated Operating Agreement of Global LLC, dated on or about the date
hereof, as such agreement may be amended from time to time in accordance with the terms thereof. 
 “Global LLC Unit” means
each of the Class B and Class B1 Units of Global LLC now or hereafter held by any Global LLC Unitholder. 
 “Global LLC
Unitholder” means SunEdison and any Permitted Transferee to whom SunEdison (or another Permitted Transferee) transfers some or all of the Global LLC Units owned by such Person in accordance with the terms of the Global LLC Operating
Agreement (including Section 7.3 thereof). 
 “Governmental Entity” means any supra-national, national, state,
provincial or local governmental authority, court, government or self-regulatory organization, commission, tribunal or organization or any regulatory, administrative or other agency, or any political or other subdivision, department or branch of any
of the foregoing. 
 “IPO” means the closing of the initial public offering and sale by the Corporation of shares of
Class A Common Stock. 
 “Permitted Transferee” has the meaning given to such term in Section 4.1 of this
Agreement. 
 “Person” means any individual, partnership, corporation, limited liability company, trust or other entity,
including any Governmental Entity. 
 “Requisite Holders” means, as of the applicable determination date, each Global LLC
Unitholder, if any, who, together with its Affiliates and Permitted Transferees, beneficially owns at least a majority of the then outstanding Global LLC Units (excluding any Global LLC Units held by the Corporation or any of its subsidiaries). 

  
 2 

 “Subsidiary” means, with respect to any Person, (i) a corporation a
majority of whose capital stock with the general voting power under ordinary circumstances to vote in the election of directors of such corporation (irrespective of whether or not, at the time, any other class or classes of securities shall have, or
might have, voting power by reason of the happening of any contingency) is, at the date of determination thereof, beneficially owned by such Person, by one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries thereof or
(ii) any other Person (other than a corporation), including a joint venture, a general or limited partnership or a limited liability company, in which such Person, one or more Subsidiaries thereof or such Person and one or more Subsidiaries
thereof, directly or indirectly, at the date of determination thereof, beneficially own at least a majority of the ownership interests entitled to vote in the election of directors, managers or trustees thereof (or other Persons performing such
functions) or act as the general partner or managing member of such other Person. 
 ARTICLE II 

Section 2.1 Exchange of Global LLC Units for Class A Common Stock. 

(a) Subject to compliance with Applicable Securities Laws, each Global LLC Unitholder shall be entitled at any time and from
time to time, upon the terms and subject to the conditions hereof and the Global LLC Operating Agreement, to surrender all or a portion of its Global LLC Units to Global LLC in exchange for the delivery by Global LLC to the exchanging Global LLC
Unitholder of a number of shares of Class A Common Stock that is equal to the product of the number of Global LLC Units surrendered multiplied by the Exchange Rate (each such exchange, an “Exchange”); provided that,
(i) each Exchange shall be for a minimum of the lesser of 1,000 Global LLC Units or all of the Global LLC Units held by such Global LLC Unitholder and (ii) such exchanging Global LLC Unitholder must be the record holder of the number of shares of
Class B or Class B1 Common Stock that is equal to the number of Global LLC Units surrendered. In connection with such exchange, (A) a corresponding number of shares of Class B or Class B1 Common Stock, as applicable, held by the exchanging Global
LLC Unitholder must be surrendered to Global LLC for delivery of such shares by Global LLC to the Corporation for cancellation, (B) the Corporation will issue and 

  
 3 

 
contribute a corresponding number of shares of Class A Common Stock to Global LLC for delivery of such shares by Global LLC to the exchanging Global LLC Unitholder, (C) Global LLC will
issue a corresponding number of additional Class A Units to the Corporation, (D) Global LLC will cancel the surrendered Global LLC Units and the Corporation will cancel the corresponding shares of Class B or Class B1 Common Stock, as
applicable, and (E) Global LLC will deliver the shares of Class A Common Stock it receives from the Corporation to the exchanging Global LLC Unitholder. 

(b) A Global LLC Unitholder shall exercise its right to Exchange Global LLC Units as set forth in (a) above by
delivering to the Corporation and to Global LLC a written election of exchange in respect of the Global LLC Units to be Exchanged substantially in the form of Exhibit A hereto (an “Election of Exchange”), duly executed
by such holder or such holder’s duly authorized representative, in each case delivered during normal business hours at the principal executive offices of the Corporation and of Global LLC. An Election of Exchange may specify that the Exchange
is to be contingent (including as to timing) upon the occurrence of any transaction or event, including the consummation of a purchase by another Person (whether in a tender or exchange offer, an underwritten offering or otherwise) of shares of
Class A Common Stock or any merger, consolidation or other business combination. Subject to (i) Section 2.4(b) of this Agreement, (ii) the payment by the applicable Global LLC Unitholder of any amount required to be paid
under (c) and (iii) the surrender to Global LLC of the unit certificates, if any, and duly executed unit powers associated with the Global LLC Units subject to the Exchange, the Exchange shall be deemed to have been effected on
(A) the Business Day immediately following receipt of the applicable Election of Exchange or (B) such later date specified in or pursuant to the applicable Election of Exchange (such date specified in clause (A) or (B), as applicable,
the “Exchange Date”), and as promptly as practicable following the applicable Exchange Date, the Corporation shall deliver or cause to be delivered at the offices of the then-acting registrar and transfer agent of the Class A
Common Stock or, if there is no then-acting registrar and transfer agent of the Class A Common Stock, at the principal executive offices of Global LLC, the number of shares of Class A Common Stock deliverable upon such Exchange. Global LLC
shall then deliver or cause to be delivered such shares of Class A Common Stock to the relevant exchanging Global LLC Unitholder (or its designee). Notwithstanding anything herein to the contrary, any exchanging Global LLC Unitholder may
withdraw or amend an Election of Exchange, in whole or in part, prior to the effectiveness of the Exchange, at any time prior to 5:00 p.m., New York City time, on the second Business Day immediately preceding the Exchange Date (or any such later
time as may be required by applicable law) by delivery of a written notice of withdrawal to the Corporation and to Global LLC, specifying (1) the number of Global LLC Units being withdrawn, (2) the number of Global LLC Units, if any, as to
which the Election of Exchange remains in effect and (3) if such exchanging Global LLC Unitholder so determines, a new Exchange Date or any other new or revised information permitted in an Election of Exchange. On the Exchange Date, all rights
of the exchanging Global LLC Unitholder as a holder of such Global LLC Units shall cease and such Global LLC Units shall be cancelled, and Global LLC shall issue to the Corporation a number of Class A Units equal to the number of such Global
LLC Units cancelled. On the Exchange Date, the exchanging Global LLC Unitholder shall be treated for all purposes as having become the record holder of the 

  
 4 

 
shares of Class A Common Stock to be exchanged for the cancelled Global LLC Units. In connection with the Exchange, the Corporation shall automatically cancel shares of Class B or B1 Common
Stock, as applicable, held by the exchanging Global LLC Unitholder, immediately after such shares of common stock are transferred to Global LLC, in an amount corresponding to the number of Global LLC Units being exchanged in accordance with this
Section 2.1. The Corporation shall take such actions as may be required to ensure the performance by Global LLC of its obligations under this (b) and the foregoing (a). 

(c) Global LLC, the Corporation and the exchanging Global LLC Unitholder shall bear their own expenses in connection with the
consummation of any Exchange, whether or not any such Exchange is ultimately consummated, except that Global LLC shall bear any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, any Exchange;
provided, however, that if any shares of Class A Common Stock are to be delivered in a name other than that of the Global LLC Unitholder that requested the Exchange, then such Global LLC Unitholder and/or the person in whose name
such shares are to be delivered shall pay to Global LLC the amount of any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, such Exchange or shall establish to the reasonable satisfaction of
Global LLC that such tax has been paid or is not payable. 
 (d) Each of the Corporation and Global LLC covenants and agrees
that it will not take any action that would pose a material risk that Global LLC could be treated as a “publicly traded partnership” for U.S. federal income tax purposes. Notwithstanding anything to the contrary herein, no Exchange shall
be permitted (and, if attempted, shall be void ab initio) if, in the opinion of legal counsel or a qualified tax advisor to Global LLC, such an Exchange would present a material risk that such Exchange would cause Global LLC to cease
to be classified as a partnership or to be classified as a “publicly traded partnership” within the meaning of Section 7704(b) of the Code for U.S. federal income tax purposes. 

(e) For the avoidance of doubt, and notwithstanding anything to the contrary herein, a Global LLC Unitholder shall not be
entitled to Exchange Global LLC Units to the extent the Corporation or Global LLC reasonably determines in good faith that such Exchange (i) would be prohibited by applicable law or regulation, including Applicable Securities Laws, or
(ii) would not be permitted under any other agreement between such Global LLC Unitholder and the Corporation or its subsidiaries (including the Global LLC Operating Agreement). 

Section 2.2 Adjustment. The Exchange Rate shall be adjusted accordingly if there is: (a) any subdivision (by any unit split,
unit distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse unit split, reclassification, reorganization, recapitalization or otherwise) of the Class A Units, Class B Units or Class B1 Units
that is not accompanied by an identical subdivision or combination of the Class A Common Stock; (b) any subdivision (by any stock split, stock dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or
combination (by reverse stock split, reclassification, reorganization, recapitalization or otherwise) of the Class A Common 

  
 5 

 
Stock that is not accompanied by an identical subdivision or combination of the Class A Units, Class B Units or Class B1 Units; (c) (1) any issuance of shares of
(x) Class A Common Stock by the Corporation or (y) Class A Units to the Corporation that is not accompanied by (2) the issuance of an identical number of (x) Class A Units to the Corporation (in the case of clause
(c)(1)(x)) or (y) shares of Class A Common Stock (in the case of clause (c)(1)(y)), as applicable; or (d) (1) any issuance of (x) shares of Class B or Class B1 Common Stock by the Corporation or (y) Class B or Class B1
Units to SunEdison or its Permitted Transferees that is not accompanied by (2) the issuance of an identical number of (x) Class B or Class B1 Units to SunEdison or to any Permitted Transferee of SunEdison (in the case of clause (d)(1)(x))
or (y) shares of Class B or Class B1 Common Stock to SunEdison or its Permitted Transferees (in the case of clause (d)(1)(y)). If there is (i) any reclassification, reorganization, recapitalization or other similar transaction in which the
Class A Common Stock is converted or changed into another security, securities or other property or (ii) and any subdivision (by any split, distribution or dividend, reclassification, reorganization, recapitalization or otherwise) or
combination (by reverse split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after the effective time of such reclassification, reorganization, recapitalization or other similar
transaction, then upon any subsequent Exchange, an exchanging Global LLC Unitholder shall be entitled to receive the amount of such security, securities or other property that such exchanging Global LLC Unitholder would have received if such
Exchange had occurred immediately prior to the effective date of such reclassification, reorganization, recapitalization or other similar transaction, taking into account any adjustment as a result of any such subdivision (by any split, distribution
or dividend, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after the effective time of
such reclassification, reorganization, recapitalization or other similar transaction. For the avoidance of doubt, if there is any reclassification, reorganization, recapitalization or other similar transaction in which the Class A Common Stock
is converted or changed into another security, securities or other property, this Section 2.2 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Agreement shall apply to the
Class A Units, Class B Units or Class B1 Units held by the Corporation, SunEdison and SunEdison’s Permitted Transferees as of the date hereof, as well as any Class A Units, Class B Units and Class B1 Units hereafter acquired by the
Corporation, SunEdison or any of SunEdison’s Permitted Transferees. This Agreement shall apply to, mutatis mutandis, and all references to “Class A Units,” “Class B Units” or “Class B1 Units” shall be deemed
to include, any security, securities or other property of Global LLC which may be issued in respect of, in exchange for or in substitution of Class A Units, Class B Units or Class B1 Units, as applicable, by reason of any distribution or
dividend, split, reverse split, combination, reclassification, reorganization, recapitalization, merger, exchange (other than an Exchange) or other transaction. 

Section 2.3 Class A Common Stock to be Issued. 

(a) If any Exchange in accordance with this Agreement is to be effected in a manner that would require registration under
Applicable Securities Laws and such required registration has not become effective or otherwise is unavailable, upon the request and with the reasonable cooperation of the Global LLC Unitholder requesting the Exchange, the Corporation shall use its
commercially reasonable efforts to promptly facilitate such Exchange pursuant to any reasonably available exemption from such 

  
 6 

 
registration requirements. The Corporation shall use its commercially reasonable efforts to list the Class A Common Stock required to be delivered upon Exchange prior to such delivery upon
each national securities exchange or inter-dealer quotation system upon which the outstanding Class A Common Stock may be listed or traded at the time of such delivery. 

(b) The Corporation shall at all times reserve and keep available out of its authorized but unissued Class A Common Stock,
solely for the purpose of issuance upon an Exchange, such number of shares of Class A Common Stock as shall be deliverable upon any such Exchange; provided that nothing contained herein shall be construed to preclude Global LLC from
satisfying its obligations in respect of the Exchange of Global LLC Units by delivery of Class A Common Stock which is held in the treasury of the Corporation, in a manner consistent with the requirements of Treasury Regulations
Section 1.1032-3(c) so as to allow Global LLC to make such exchange without recognizing any gain or loss on the transaction for federal income tax purposes. 

(c) Prior to the effective date of this Agreement, the Corporation and Global LLC will take all such steps as may be required
to cause to qualify for exemption under Rule 16b-3(d) or (e), as applicable, under the Exchange Act, and be exempt for purposes of Section 16(b) under the Exchange Act, any acquisitions or dispositions of equity securities of the
Corporation (including derivative securities with respect thereto) and any securities which may be deemed to be equity securities or derivative securities of the Corporation for such purposes that result from the transactions contemplated by this
Agreement, by each Global LLC Unitholder who may reasonably be expected to be subject to the reporting requirements of Section 16(a) of the Exchange Act with respect to the Corporation upon the registration of any class of equity security of
the Corporation pursuant to Section 12 of the Exchange Act (with the authorizing resolutions specifying the name of each such Global LLC Unitholder whose acquisition or disposition of securities is to be exempted and the number of securities
that may be acquired and disposed of by each such person pursuant to this Agreement). 
 (d) If any Takeover Law (as defined
below) or other similar law or regulation becomes or is deemed to become applicable to this Agreement or any of the transactions contemplated hereby, the Corporation or Global LLC shall use their commercially reasonable efforts to render such law or
regulation inapplicable to all of the foregoing. 
 (e) Each of the Corporation and Global LLC covenants that all
Class A Common Stock issued upon an Exchange will, upon issuance, be validly issued, fully paid and non-assessable, will pass to the applicable exchanging Global LLC Unitholder free and clear of any liens, security interests and other
encumbrances other than any such liens, security interests or other encumbrances imposed by such exchanging Global LLC Unitholder and will not be subject to any preemptive right of stockholders of the Corporation or to any right of first refusal or
other right in favor of any person or entity. 
 (f) No Exchange shall impair the right of the exchanging Global LLC
Unitholder to receive any distributions payable on the Global LLC Units so exchanged in respect of a record date that occurs prior to the Exchange Date for such Exchange. For 

  
 7 

 
the avoidance of doubt, no exchanging Global LLC Unitholder shall be entitled to receive, in respect of a single record date, distributions or dividends both on Global LLC Units exchanged by such
holder and on Class A Common Stock received by such holder in such Exchange. 
 Each Global LLC Unitholder acknowledges and agrees that the shares of
Class A Common Stock to be issued upon the occurrence of an Exchange in a transaction not registered under the Securities Act will constitute “restricted securities” as defined by Rule 144 promulgated under the Securities Act, and may
not be sold or transferred in the absence of an effective registration statement under the Securities Act and registration or qualification under other Applicable Securities Laws or an exemption from such registration or qualification and
certificates (or account entries in the case of book-entry securities) evidencing shares of Class A Common Stock issued upon an Exchange may bear an appropriate legend. 

Section 2.4 Withholding; Certification of Non-Foreign Status. 

(a) If the Corporation or Global LLC shall be required to withhold any amounts by reason of any Federal, State, local or
foreign tax rules or regulations in respect of any Exchange, the Corporation or Global LLC, as the case may be, shall be entitled to take such action as it deems appropriate in order to ensure compliance with such withholding requirements, including
at its option withholding shares of Class A Common Stock with a fair market value equal to the minimum amount of any taxes which the Corporation or Global LLC, as the case may be, may be required to withhold with respect to such Exchange. To
the extent that amounts (or property) are so withheld and paid over to the appropriate taxing authority, such withheld amounts (or property) shall be treated for all purposes of this Agreement as having been paid (or delivered) to the appropriate
Global LLC Unitholder. 
 (b) Notwithstanding anything to the contrary herein, each of Global LLC and the Corporation may, at
its own discretion, require as a condition to the effectiveness of an Exchange that an exchanging Global LLC Unitholder deliver to Global LLC or the Corporation, as the case may be, a certification of non-foreign status in accordance with Treasury
Regulation Section 1.1445-2(b). In the event Global LLC or the Corporation has required delivery of such certification but an exchanging Global LLC Unitholder is unable to do so, Global LLC shall
nevertheless deliver or cause to be delivered to the exchanging Global LLC Unitholder the Class A Common Stock in accordance with Section 2.1 of this Agreement, but subject to potential withholding as provided in (a). 

ARTICLE III 
 Section 3.1
Representations and Warranties of the Corporation and of Global LLC. Each of the Corporation and Global LLC represents and warrants that (i) it is a corporation or limited liability company duly incorporated or formed and is existing in
good standing under the laws of the State of Delaware, (ii) it has all requisite corporate or limited liability company power and authority to enter into and perform this Agreement and to consummate the transactions contemplated hereby and, in
the case of the Corporation, to issue the Class A 

  
 8 

 
Common Stock in accordance with the terms hereof, (iii) the execution and delivery of this Agreement by it and the consummation by it of the transactions contemplated hereby (including, in
the case of the Corporation, the issuance of the Class A Common Stock) have been duly authorized by all necessary corporate or limited liability company action on its part, including all actions necessary to ensure that the acquisition of
shares of Class A Common Stock pursuant to the transactions contemplated hereby shall not be subject to any “moratorium,” “control share acquisition,” “business combination,” “fair price” or other form of
“anti-takeover laws and regulations” of any jurisdiction that may purport to be applicable to this Agreement or the transactions contemplated hereby (collectively, “Takeover Laws”), (iv) this Agreement constitutes a
legal, valid and binding obligation of it enforceable against it in accordance with its terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or
limiting creditors’ rights generally, and (v) the execution, delivery and performance of this Agreement by it and the consummation by it of the transactions contemplated hereby will not (A) result in a violation of its Certificate of
Incorporation or Bylaws or other organizational documents, (B) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which it is a party, or (C) result in a violation of any law, rule, regulation, order, judgment or decree applicable to it or by which any property or asset of it is
bound or affected, except with respect to clauses (B) or (C) for any conflicts, defaults, accelerations, terminations, cancellations or violations, that would not reasonably be expected to have a material adverse effect on it or its
business, financial condition or results of operations. 
 Section 3.2 Representations and Warranties of the Global LLC
Unitholders. Each Global LLC Unitholder, severally and not jointly, represents and warrants that (i) it is duly incorporated or formed and, to the extent such concept exists in its jurisdiction of organization or formation, is in good
standing under the laws of such jurisdiction, (ii) it has all requisite legal capacity and authority to enter into and perform this Agreement and to consummate the transactions contemplated hereby, (iii) the execution and delivery of this
Agreement by it of the transactions contemplated hereby have been duly authorized by all necessary corporate or other entity action on the part of such Global LLC Unitholder, (iv) this Agreement constitutes a legal, valid and binding obligation
of such Global LLC Unitholder enforceable against it in accordance with its terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting
creditors’ rights generally and (v) the execution, delivery and performance of this Agreement by such Global LLC Unitholder and the consummation by such Global LLC Unitholder of the transactions contemplated hereby will not (A) result
in a violation of the Certificate of Incorporation or Bylaws or other organizational documents of such Global LLC Unitholder or (B) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a
default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such Global LLC Unitholder is a party, or (C) result in a violation of any law, rule,
regulation, order, judgment or decree applicable to such Global LLC Unitholder, except with respect to clauses (B) or (C) for any conflicts, defaults, accelerations, terminations, cancellations or violations, that would not in any material
respect result in the unenforceability against such Global LLC Unitholder of this Agreement. 

  
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 ARTICLE IV 

Section 4.1 Additional Global LLC Unitholders. To the extent a Global LLC Unitholder (including SunEdison) validly transfers any
or all of its Global LLC Units to another person in a transaction in accordance with, and not in contravention of, the Global LLC Operating Agreement, then such transferee (each, a “Permitted Transferee”) shall have the right to
execute and deliver a joinder to this Agreement, in the form of Exhibit B hereto, whereupon such Permitted Transferee shall become a Global LLC Unitholder hereunder; provided, however, that such Permitted Transferee shall be
subject to any restrictions on Exchange that would have applied to the transferor. To the extent Global LLC issues Global LLC Units in the future, then the holder of such Global LLC Units shall have the right to execute and deliver a joinder to this
Agreement, substantially in the form of Exhibit B hereto, whereupon such holder shall become a Global LLC Unitholder hereunder. 

Section 4.2 Addresses and Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing
and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the
following addresses (or at such other address for a party as shall be as specified in a notice given in accordance with this Section 4.2): 

(a) If to the Corporation or to Global LLC, to: 

7550 Wisconsin Avenue, 9th Floor 

Bethesda, Maryland 20814 
 Attn:
General Counsel 
 Facsimile: (240) 762-7900 

(b) If to any Global LLC Unitholder, to the address and other contact information set forth in the records of Global LLC from
time to time. 
 Section 4.3 Further Action. The parties shall execute and deliver all documents, provide all information and
take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement. 
 Section 4.4
Binding Effect; No Third Party Beneficiaries. This Agreement shall, from and after the Effective Time, be binding upon and inure to the benefit of all of the parties and their successors, executors, administrators, heirs, legal
representatives and permitted assigns, including, without limitation and without the need for an express assignment, any Permitted Transferee, provided that nothing herein shall be deemed to permit any assignment, transfer or other
disposition of Global LLC Units in violation of the terms of the Global LLC Operating Agreement or applicable law. This Agreement shall not be assignable by the Corporation or Global LLC without the prior written consent of SunEdison and the
Requisite Holders. In the event the Corporation or Global LLC or any of its successors or assigns (i) consolidates with or merges into any other person or entity and is not the continuing or surviving corporation or entity of such consolidation
or merger or (ii) transfers all or substantially all of its properties and assets to any person or entity, then and in either case, as a condition to such consolidation, merger or 

  
 10 

 
transfer, proper provisions shall be made such that the successors and assigns of the Corporation or Global LLC, as the case may be, will assume its obligations set forth in this Agreement, and
this Agreement shall be enforceable against such successors and assigns. Nothing in this Agreement, express or implied, is intended to or shall confer upon anyone other than the parties and their respective successors and permitted assigns any
right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 Section 4.5 Severability. If any term
or other provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions is not affected in any manner materially adverse to any party. Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the fullest extent possible. 
 Section 4.6 Integration. This Agreement, together with the Global LLC Operating Agreement,
constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 

Section 4.7 Amendment. The provisions of this Agreement may be amended, supplemented, waived or modified only by the affirmative
vote or written consent of each of the Corporation, Global LLC, SunEdison and the Requisite Holders; provided, however, that no such amendment, supplement, waiver or modification shall (i) materially alter or change any rights or
obligations of any Global LLC Unitholders in a manner that is different or prejudicial relative to any other Global LLC Unitholders, without the prior written consent of at least two-thirds (2/3) in interest of the Global LLC Unitholders (based
on the number of Global LLC Units held by such holders) affected in such a different or prejudicial manner or (ii) alter, supplement or amend the Exchange Rate as adjusted from time to time pursuant to Section 2.2 hereof (or the
adjustments provided therein) without the prior written consent of each affected Global LLC Unitholder. Notwithstanding the foregoing, the Corporation, Global LLC and SunEdison, without the consent of any Requisite Holders, may amend, supplement,
waive or modify any term of this Agreement to cure any ambiguity, mistake, defect or inconsistency contained herein. 
 Section 4.8
Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such
breach of any other covenant, duty, agreement or condition. 
 Section 4.9 Arbitration; Submission to Jurisdiction; Waiver of Jury
Trial. 
 (a) Any dispute, controversy or claim arising out of, relating to or in connection with this Agreement or the
transactions contemplated hereby (including the validity, scope and enforceability of this arbitration provision) shall be finally settled by arbitration. The arbitration shall take place in Wilmington, Delaware and be conducted in accordance with
the Commercial Arbitration Rules of the American Arbitration 

  
 11 

 
Association (the “AAA”) then in effect (except as they may be modified by mutual agreement of the Corporation, Global LLC, SunEdison and the Requisite Holders). The arbitration
shall be conducted by three neutral, impartial and independent arbitrators, who shall be appointed by the AAA, at least one of whom shall be a retired judge or a senior partner at one of the nationally recognized Delaware-based law firms. The
arbitration award shall be final and binding on the parties. Judgment upon the award may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant party or its assets. The costs of the arbitration shall be borne by
the Corporation. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 

(b) Notwithstanding the provisions of paragraph (a), the parties hereto may bring an action or special proceeding in any court
of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each party
hereto (i) expressly consents to the application of paragraph (c) of this Section 4.9 to any such action or proceeding and (ii) agrees that proof shall not be required that monetary damages for breach of the provisions of
this Agreement would be difficult to calculate and that remedies at law would be inadequate. 
 (c) EACH PARTY HERETO
IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE OR ANY DELAWARE STATE COURT, IN EACH CASE, SITTING IN THE CITY OF WILMINGTON, DELAWARE FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN
ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 4.9, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any
suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the forum designated by this paragraph (c) have a
reasonable relation to this Agreement, and to the parties’ relationship with one another. 
 (d) The parties hereby
waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in the
preceding paragraph of this Section 4.9 and such parties agree not to plead or claim the same, and agree that service of process upon such party in any such action, suit, demand or proceeding shall be effective if notice is given in
accordance with Section 4.2. 
 Section 4.10 Counterparts. This Agreement may be executed and delivered (including
by facsimile transmission or by e-mail delivery of a “.pdf” format data file) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an
original but all of which taken together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy, by e-mail delivery of a “.pdf” format data file or other electronic transmission service shall
be considered original executed counterparts for purposes of this Section 4.10. 

  
 12 

 Section 4.11 Tax Treatment. This Agreement shall be treated as part of the
partnership agreement of Global LLC as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations promulgated thereunder. Each party hereto agrees to report each Exchange for U.S.
federal income tax purposes as a taxable sale or exchange of Class B or Class B1 Units by the applicable Global LLC Unitholder in exchange for Class A Common Stock (in conjunction with the cancellation of Class B or Class B1 Common Stock, as
applicable) and no party shall take a contrary position on any U.S. federal, state or local income tax return: (i) except as otherwise required by a “determination” as defined in Section 1313 of the Code, or (ii) unless such
party provides a written opinion by a nationally recognized accounting or law firm, which opinion is reasonably satisfactory to both SunEdison and Global LLC, that such Exchange should not be treated as a taxable sale or exchange for federal income
tax purposes. 
 Section 4.12 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. It is accordingly agreed that the parties shall be entitled to specific performance of the terms and provisions
hereof, in addition to any other remedy to which they are entitled at law or in equity. 
 Section 4.13 Independent Nature of Global
LLC Unitholders’ Rights and Obligations. The obligations of each Global LLC Unitholder hereunder are several and not joint with the obligations of any other Global LLC Unitholder, and no Global LLC Unitholder shall be responsible in any way
for the performance of the obligations of any other Global LLC Unitholder hereunder. The decision of each Global LLC Unitholder to enter into to this Agreement has been made by such Global LLC Unitholder independently of any other Global LLC
Unitholder. Nothing contained herein, and no action taken by any Global LLC Unitholder pursuant hereto, shall be deemed to constitute an action of the Global LLC Unitholders as a partnership, an association, a joint venture or any other kind of
entity, or create a presumption that the Global LLC Unitholders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the Global LLC Unitholders
are not acting in concert or as a group, and the Corporation will not assert any such claim, with respect to such obligations or the transactions contemplated hereby. 

Section 4.14 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of
Delaware. 
 [Signature page to follow] 

  
 13 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered, all
as of the date first set forth above. 
  

			
	TERRAFORM GLOBAL, INC.
		
	By:	 	 /s/ Yana Kravtsova

	Name:	 	Yana Kravtsova
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	TERRAFORM GLOBAL, LLC
		
	By:	 	 /s/ Yana Kravtsova

	Name:	 	Yana Kravtsova
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	SUNEDISON, INC.
		
	By:	 	 /s/ Brian Wuebbels

	Name:	 	Brian Wuebbels
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Exchange Agreement] 

 EXHIBIT A 

[FORM OF] 
 ELECTION OF EXCHANGE

 TerraForm Global, Inc. 
 TerraForm Global, LLC 

7550 Wisconsin Avenue, 9th Floor 
 Bethesda, Maryland 20814 

Attn: General Counsel 
 Facsimile: (240) 762-7900 

Reference is hereby made to the Exchange Agreement, dated as of July 23, 2014 (as amended, the “Exchange Agreement”), by
and among TerraForm Global, Inc., a Delaware corporation, TerraForm Global, LLC, a Delaware limited liability company, SunEdison, Inc., a Delaware corporation, and the other Persons from time to time party thereto (as Global LLC Unitholders).
Capitalized terms used but not defined herein shall have the meanings given to them in the Exchange Agreement. 
 The undersigned Global LLC
Unitholder hereby transfers to Global LLC for cancellation, the number of Global LLC Units set forth below in Exchange for shares of Class A Common Stock to be issued in its name as set forth below, as set forth in the Exchange Agreement. [The
foregoing transfers shall be [effective as of                     ][and][conditioned upon satisfaction of the following conditions:
    .]1 
  

					
	Legal Name of Global LLC Unitholder:				  

			
	Address:				  

			
	Number of Global LLC Units to be Exchanged:				  

 The undersigned hereby represents and warrants that (i) the undersigned has full legal capacity to
execute and deliver this Election of Exchange and to perform the undersigned’s obligations hereunder; (ii) this Election of Exchange has been duly executed and delivered by the undersigned and is the legal, valid and binding obligation of
the undersigned enforceable against it in accordance with the terms thereof or hereof, as the case may be, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and the availability of equitable
remedies; (iii) the Global LLC Units subject to this Election of Exchange are being transferred free and clear of any pledge, lien, security interest, encumbrance, equities or claim; (iv) no consent, approval, authorization, order,
registration or qualification of any third party or with any court or governmental agency or body having jurisdiction over the undersigned or the Global LLC Units subject to this Election of Exchange is required to be obtained by the undersigned for
the transfer of such Global LLC Units; and (v) the undersigned is the record 
  

	1 	 Insert Exchange Date and/or contingency, if applicable. 

  
 Exhibit A-1 

 
holder of shares of Class B or Class B1 Common Stock, as applicable, in an amount equal to at least the number of Global LLC Units subject to this Election of Exchange and will retain ownership
of such minimum number of shares of Class B or Class B1 Common Stock, as applicable, through the Exchange Date. 
 The undersigned hereby
irrevocably constitutes and appoints any officer of the Corporation or Global LLC as the attorney of the undersigned, with full power of substitution and resubstitution in the premises, to do any and all things and to take any and all actions that
may be necessary to (i) transfer to Global LLC (A) for cancellation by Global LLC, the Global LLC Units subject to this Election of Exchange and (B) for cancellation by the Corporation, the number of shares of Class B or Class B1
Common Stock, as applicable, equal to the number of Global LLC Units subject to this Election and Exchange (which such common stock will be cancelled immediately thereafter by the Corporation) and (ii) deliver to the undersigned the shares of
Class A Common Stock to be delivered in Exchange for such Global LLC Units. 
 IN WITNESS WHEREOF, the undersigned, by authority duly
given, has caused this Election of Exchange to be executed and delivered by the undersigned or by its duly authorized attorney. 
  

			
	Name:		  

	Dated:		

  
 Exhibit A-2 

 EXHIBIT B 

[FORM OF] 
 JOINDER AGREEMENT 

This Joinder Agreement (“Joinder Agreement”) is a joinder to the Exchange Agreement, dated as of
[            ], 201[  ] (as amended, the “Exchange Agreement”), by and among TerraForm Global, Inc., a Delaware corporation, TerraForm Global, LLC, a Delaware
limited liability company, SunEdison, Inc., a Delaware corporation, and the other Persons from time to time party thereto (as Global LLC Unitholders). Capitalized terms used but not defined in this Joinder Agreement shall have their meanings given
to them in the Exchange Agreement. This Joinder Agreement shall be governed by, and construed in accordance with, the law of the State of Delaware. In the event of any conflict between this Joinder Agreement and the Exchange Agreement, the terms of
this Joinder Agreement shall control. 
 The undersigned hereby joins and enters into the Exchange Agreement having acquired Global LLC
Units. By signing and returning this Joinder Agreement to the Corporation and to Global LLC, the undersigned (i) accepts and agrees to be bound by and subject to all of the terms and conditions of and agreements of a holder of Global LLC Units
contained in the Exchange Agreement, with all attendant rights, duties and obligations of a Global LLC Unitholder thereunder and (ii) makes each of the representations and warranties of a Global LLC Unitholder set forth in Section 3.2 of
the Exchange Agreement as fully as if such representations and warranties were set forth herein. The parties to the Exchange Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Exchange
Agreement by the undersigned and, upon receipt of this Joinder Agreement by the Corporation and by Global LLC, the signature of the undersigned set forth below shall constitute a counterpart signature to the signature page of the Exchange Agreement.

  

					
	 Name:
		  
		

  

							
	Address for Notices				With copies to:
			
	  
				  

			
	  
				  

			
	  
				  

				
	 Attention:
		  
				  

  
 Exhibit B-1

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