Exhibit 10.1


 





 


Form of Lock-Up Agreement


 


Roth Capital Partners, LLC


888 San Clemente Drive


Newport Beach, CA 92660


 


Ladies and Gentlemen:


 


The undersigned understands
that you, as the representative (the “Representative”) of the several underwriters named therein, propose to enter
into an Underwriting Agreement (the “Underwriting Agreement”) with Real Goods Solar, Inc, a Colorado corporation (the
“Company”), relating to a proposed offering of securities of the Company (the “Offering”) including shares
of Class A 12.5% Mandatorily Convertible Preferred Stock, par value $0.0001 per share (the “Preferred Stock”), and
Series H warrants to purchase shares of Class A common stock, par value $0.0001 per share (the “Common Stock”). Capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Underwriting Agreement.


 


In consideration
of the foregoing, and in order to induce you to participate in the Offering, and for other good and valuable consideration
receipt of which is hereby acknowledged, the undersigned hereby agrees that, without the prior written consent of the
Representative (which consent may be withheld in its sole discretion), the undersigned will not, during the period (the
“Lock-Up Period”) beginning on the date hereof and ending on the date 90 days after the date of the final
prospectus relating to the Offering (the “Final Prospectus”), (1) offer, pledge, announce the intention to sell,
sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, or file (or participate in the
filing of) a registration statement with the Securities and Exchange Commission in respect of, any shares of Common Stock or
any securities convertible into or exercisable or exchangeable for shares of Common Stock (including without limitation,
shares of Common Stock which may be deemed to be beneficially owned by the undersigned in accordance with the rules and
regulations of the Securities and Exchange Commission and securities which may be issued upon exercise of a stock option or
warrant), (2) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of
ownership of the shares of, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of
shares of Common Stock or such other securities, in cash or otherwise, (3) make any demand for or exercise any right with
respect to, the registration of any shares of Common Stock or any security convertible into or exercisable or exchangeable
for shares of Common Stock, or (4) publicly announce an intention to effect any transaction specific in clause (1), (2) or
(3) above. Notwithstanding the foregoing, if (i) the Company issues an earnings release or material news, or a material event
relating to the Company occurs, during the last 17 days of the Lock-Up Period, or (ii) prior to the expiration of the Lock-Up
Period, the Company announces that it will release earnings results during the 16-day period beginning on the last day of the
Lock-Up Period, the restrictions imposed by this letter agreement shall continue to apply until the expiration of the 18-day
period beginning on the issuance of the earnings release or the occurrence of the material news or material event, unless the
Representative waives such extension.






 






     


     


    




 


Notwithstanding the
foregoing, the restrictions set forth in clause (1) and (2) above shall not apply to: (a) transfers: (i) as a bona fide gift or
gifts, provided that the donee or donees thereof agree to be bound in writing by the restrictions set forth herein; or (ii) to
any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, provided that the trustee
of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall
not involve a disposition for value; (b) the acquisition or exercise of any stock option issued pursuant to the Company’s
existing stock option plan, including any exercise effected by the delivery of shares of Common Stock of the Company held by the
undersigned; or (c) the purchase or sale of the Company’s securities pursuant to a plan, contract or instruction that satisfies
all of the requirements of Rule 10b5-1(c)(1)(i)(B) that was in effect prior to the date hereof. For purposes of this Lock-Up Agreement,
“immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin.


 


The foregoing restrictions
are expressly agreed to preclude the undersigned from engaging in any hedging or other transaction which is designed to or reasonably
expected to lead to or result in a sale or disposition of shares of Common Stock even if such securities would be disposed of by
someone other than the undersigned. Such prohibited hedging or other transactions would include without limitation any short sale
or any purchase, sale or grant of any right (including without limitation any put option or put equivalent position or call option
or call equivalent position) with respect to any of the shares of Common Stock or with respect to any security that includes, relates
to, or derives any significant part of its value from such shares.


 


The undersigned hereby
represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement. All authority herein
conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs
or personal representatives of the undersigned.


 


The undersigned also
agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar or depositary
against the transfer of the undersigned’s shares of Common Stock except in compliance with the foregoing restrictions.


 


The undersigned understands
that, if the Underwriting Agreement does not become effective, or if the Underwriting Agreement (other than the provisions thereof
which survive termination) shall terminate or be terminated prior to payment for and delivery of the securities to be sold thereunder,
the undersigned shall be released from all obligations under this Lock-Up Agreement.


 


This Lock-Up Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws principles thereof.


 






     


     


    

 


	 	Very truly yours,
	 	 
	 	 
	 	Name: