Exhibit 10.50

 

AMENDMENT NO. 1 TO

 

SEPARATION AGREEMENT AND GENERAL RELEASE

 

This Amendment No. 1 (“Amendment”) to a Separation Agreement and General Release
dated September 19, 2008  (“Agreement”) by and between Matthew Foster
(“Foster”), an individual, and Ascent Solar Technologies, Inc., a Delaware
corporation (“Ascent Solar”):

 

RECITALS

 

It was and is the intent of Foster and Ascent Solar that, as part of the
Separation Benefits, vesting of all of Foster’s unvested stock options be
accelerated, effective October 19, 2008.

 

AGREEMENT

 

Section 3(a) of the Agreement is hereby amended in its entirety as follows:

 

(a)          Acceleration of the vesting of all stock options to which Foster is
entitled pursuant to option grants made on November 18, 2005, February 27, 2006
and December 3, 2007 under the Ascent Solar Technologies, Inc. 2005 Stock Option
Plan and Stock Option Agreement, with the acceleration to be effective
October 19, 2008.

 

ASCENT SOLAR TECHNOLOGIES, INC.

    MATTHEW FOSTER

 

 

 

 

By:

  /s/ Mohan Misra

9/25/08    

    

  /s/ Matthew Foster

9/25/08 

Chairman of the Board

Date        

Date      

 

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