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EXHIBIT 10.5
To: Deutsche Bank AG, London Branch
Winchester House
1 Great Winchester Street
London EC2N 2DB
Re: Calculation Agent Adjustment Notice
Date: August 30, 2011
_____________________________________________________________________________________
Ladies and Gentlemen:
We are in receipt of the Calculation Agent Adjustment Notice (the “Notice”) dated June 29, 2011 sent by the Calculation Agent to us. Capitalized terms not otherwise defined in this letter will have their definitions set forth in the Notice.
We agree that the table set forth in the Notice under “Tender Offer Adjustment” is hereby superseded with the following revised Strike Price Adjustments (the “Revised Strike Price Adjustments”):
Deutsche Reference Number | Old Strike Price | New Strike Price | |
2014 Warrants | 328335 | $38.50 | $26.40 |
2015 Warrants (Base) | 375283 | $27.03 | $24.00 |
2015 Warrants (Additional) | 376539 | $27.03 | $24.00 |
We acknowledge and accept that neither this letter nor the Revised Strike Adjustments limit or modify the other provisions of the Confirmations.
Very truly yours,
SUNPOWER CORPORATION
By: /s/ Dennis Arriola
Name: Dennis Arriola
Title: EVP & Chief Financial Officer
77 Rio Robles | SUNPOWER | P: 1.408.240.5500 |
San Jose, CA 95134-1850 USA | www.sunpowercorp.com | F: 1.408.240.5400 |
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Agreed and accepted:
DEUTSCHE BANK AG, LONDON BRANCH,
as Calculation Agent
By: /s/ Lars Kestner
Name: Lars Kestner
Title: Managing Director
By: /s/ Michael Sanderson
Name: Michael Sanderson
Title: Managing Director
77 Rio Robles | SUNPOWER | P: 1.408.240.5500 |
San Jose, CA 95134-1850 USA | www.sunpowercorp.com | F: 1.408.240.5400 |