SECURITIES EXCHANGE AGREEMENT
THIS SECURITIES EXCHANGE AGREEMENT (the “Agreement”) is made as of the 6th day
of December, 2017 (the “Effective Date”) by and among Ascent Solar Technologies,
Inc., a Delaware corporation (the “Company”), and BayBridge Capital Fund LP (the
“Holder”).

The Holder hereby agrees to surrender its 675 shares of existing and currently
outstanding Series J Preferred Stock as listed below (principal amount plus
accrued dividends equal to $755,416.67 as of December 6, 2017) issued by Ascent
Solar Technologies, Inc., a Delaware corporation (the “Company”) (the “Preferred
Stock”) in exchange for a Convertible Promissory Note (the “Note”) in the amount
of $840,000.00 to be newly issued by the Company pursuant to this Agreement.

The parties to this Agreement intend that the transactions contemplated by this
Agreement are such that the offer and exchange of securities by the Company
under this Agreement will be exempt from registration under applicable United
States securities laws as a result of this exchange offer being undertaken
pursuant to Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as
amended (the “Securities Act”).

On the Closing Date, the Company will issue and deliver (or cause to be issued
and delivered) Note to the Purchaser. In exchange, the Purchaser will surrender
to the Company the Preferred Stock listed below. The Note issued in exchange for
the Preferred Stock shall generally be in the form attached hereto as Exhibit A
(as appropriate) and otherwise shall be in a form mutually acceptable to the
parties.

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# of Shares
Outstanding Principal
Accrued Dividend:
Total
New Note Amount
 
 
 
 
 
 
Series J Preferred Stock (Tranche 3 issued on 9/23/16)
225
$225,000.00
$27,437.50
$252,437.50
 
Series J Preferred Stock (Tranche 4 issued on 9/30/16)
75
$75,000.00
$9,000.00
$84,000.00
 
Series J Preferred Stock (Tranche 5 issued on 10/7/2016)
225
$225,000.00
$26,562.50
$251,562.50
 
Series J Preferred Stock (Tranche 6 issued on 10/14/2017)
150
$150,000.00
$17,416.67
$167,416.67
 
 
 
 
 
 
 
Total
675
$675,000.00
$80,416.67
$755,416.67
$840,000.00

Date: December 6, 2017

Holder:

BayBridge Capital Fund, LP
/s/ Eric Noveshen
Name: Eric Noveshen
Title: Managing Director        

Issuer:

Ascent Solar Technologies, Inc.
/s/ Victor Lee
Name: Victor Lee
Title: President & CEO
            

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Exhibit A

Form of Convertible Promissory Note – 12 month maturity

[See Note dated 12-6-2017]