Date: July 31, 2020 Tianjin Zhonghuan Semiconductor Co., Ltd No. 12 East Haitai Road, Huayuan Industrial Park, Hi-tech Industrial Zone, Tianjin, PR China Re: Letter Agreement Related to Purchase Price Deposit (this “Letter”) Ladies and Gentlemen:Investment Agreement • July 31st, 2020 • Maxeon Solar Technologies, Ltd. • Semiconductors & related devices
We refer to the Investment Agreement, dated November 8, 2019, as amended by the Consent and Waiver (as defined below) (the “Investment Agreement”), among SunPower Corporation, a Delaware corporation (“Parent”), Maxeon Solar Technologies, Ltd., a company incorporated under the Laws of Singapore, and, as of the date of this Letter, a wholly owned subsidiary of Parent (“SpinCo”), Tianjin Zhonghuan Semiconductor Co., Ltd., a PRC joint stock limited company (“Investor” and, collectively with Parent and SpinCo, the “Parties”) and, solely for purposes of Sections 5.2, 6.1, 6.3, 6.4, 6.6, 6.8, 6.9(d), 6.10, 8.2(a) and Article IX thereof, Total Solar INTL SAS, a French société par actions simplifiée. Capitalized terms used but not defined herein have the meanings given to them in the Investment Agreement.
