SEC Contract Filing

Filing Date: 2016-06-02

Document Content:
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<TYPE>EX-10.2
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<FILENAME>exhibit1023rdamendmentto.htm
<DESCRIPTION>EXHIBIT 10.2
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -1- THIRD AMENDMENT TO AMENDED &amp; RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF TERRAFORM POWER, LLC This Third Amendment (this &#8220;Amendment&#8221;) to the Amended and Restated Limited Liability Company Agreement of TerraForm Power, LLC (the &#8220;Company&#8221;), dated as of July 23, 2014 (as amended from time to time, the &#8220;LLC Agreement&#8221;), is entered into as of June 1, 2016 (the &#8220;Amendment Date&#8221;) by TerraForm Power, Inc., a Delaware corporation (&#8220;Terra, Inc.&#8221;), acting in its capacity as sole Managing Member of the Company. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the LLC Agreement. RECITALS WHEREAS, the Managing Member desires to amend the LLC Agreement to delegate all of the Managing Member&#8217;s rights, powers and authority with respect to Conflicts Matters (as defined below in this Amendment) to an independent conflicts committee, subject to the terms and conditions set forth in this Amendment; WHEREAS, pursuant to Section 9.4 (Amendments and Waivers) of the LLC Agreement, the Managing Member may in its sole discretion, without the approval of any other Member or other Person, so amend the LLC Agreement; WHEREAS, pursuant to Section 9.4 (Amendments and Waivers) of the LLC Agreement, without further action or execution on the part of any other Member or other Person, this Amendment may be executed solely by the Managing Member and the other Members shall be deemed a party to and bound by this Amendment as of the date of hereof; and WHEREAS, the Corporate Governance and Conflicts Committee of the Board of Directors of Terra, Inc. (the &#8220;CGCC&#8221;), exercising the power and authority delegated to it under the Resolutions of the Board of Directors of Terra, Inc. dated March 25, 2016 (the &#8220;Resolutions&#8221;) to evaluate and act affirmatively with respect to the SUNE Restructuring-Related Matters (as defined in the Resolutions), has unanimously approved and authorized the adoption, execution and delivery of this Amendment by the Managing Member; and WHEREAS, the approval of this Amendment by the CGCC satisfies the requirement set forth in Section 9.4 (Amendments and Waivers) of the LLC Agreement that this Amendment be approved by a majority of the independent directors of the Managing Member (as determined in accordance with the applicable listing rules of the NASDAQ Global Select Market). AMENDMENT NOW THEREFORE, the Managing Member hereby amends the LLC Agreement as follows: </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -2- 1. Managing Member; Delegation of Authority and Duties. Section 6.1 (Managing Member; Delegation of Authority and Duties) of the LLC Agreement is supplemented by adding the following provision as Section 6.1(d): &#8220;(d) Delegation of Authority by Managing Member to Conflicts Committee. (i) In accordance with Section 6.1(c), to the fullest extent permitted by law, until the first annual meeting of the stockholders of Terra, Inc. held after December 31, 2016, the Managing Member hereby delegates to the LLC Conflicts Committee (as defined in Section 6.1(d)(iv) below) exclusive power to exercise all rights, powers and authority of the Managing Member to manage and control the business and affairs of the Company and its Controlled Affiliates relating to or involving SunEdison or any of its Affiliates (other than the Company and its Controlled Affiliates) (the &#8220;Conflicts Matters&#8221;), including to: a. enter into, terminate, modify, cancel, waive or amend any agreement, lease, license, evidence of indebtedness, mortgage, indenture, security agreement or other contract, whether written or oral, with or involving SunEdison or any of its Affiliates (other than the Company and its Controlled Affiliates) (each, a &#8220;SUNE Agreement&#8221;); b. exercise, enforce or waive any rights, powers, preferences or authority of the Company or any of its Controlled Affiliates under or in connection with any SUNE Agreement; c. initiate, pursue, defend, settle, release, waive or compromise any claim, action, suit, arbitration, proceeding, investigation, audit or inquiry, in each case, whether civil, criminal or administrative, in law or in equity, involving SunEdison, any of its Affiliates (other than the Company and its Controlled Affiliates) or any of its or their directors or officers (in their capacity as such), whether with respect to past, present or future acts or omissions; d. exercise, enforce or waive any rights, powers, preferences or authority under this Agreement, the Act or applicable law, or enter into any agreement or arrangement with any party, with respect to or in connection with the potential disposition by SunEdison of Equity Securities of the Managing Member, the Company or any other Controlling Affiliate of the Company (whether by stock or asset sale, merger, </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -3- consolidation or other business combination), including the establishment of arrangements for