Document:

Exhibit 10.2

 

SECURITIES PURCHASE
AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of December 7, 2018, by and between NanoFlex Power
Corporation a Florida corporation, with headquarters located at 15333 N. Prima Road, Scottsdale, AZ 85260 (the “Company”),
and APG Capital Holdings, LLC, A Florida limited liability company with its executive offices located at 4846 N. University Drive,
Suite 103, Lauderhill, FL 33351 (the “Buyer).

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”);

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
a 12% convertible promissory note of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of
$40,000.00 (the “Convertible Note”) convertible into shares of common stock, $0.001 par value per share, of the Company
(the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in such Note.

 

C.
The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set
forth immediately below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of Note.

 

a.
 Purchase of Note. On the Closing Date (as defined below), the Company shall issue
and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of the Note as is set forth immediately
below the Buyer’s name on the signature pages hereto.

 

b.  Form of Payment. On the Closing Date (as defined below), the (A) Buyer shall (i) pay the purchase price
for the Note to be issued and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of
immediately available funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of
the Note in the principal amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature
pages hereto and (B) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery
of such Purchase Price and Buyer Note.

 

     

     

    

 

c.Closing
Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing Date”)
shall be on or about December 7, 2018, or such other mutually agreed upon time.

 

2.
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon
conversion of or otherwise pursuant to the Note, such shares of Common Stock being collectively referred to herein as the “Conversion
Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards
the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act;
provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities for
any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant
to a registration statement or an exemption under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Securities.

 

d.
Information. The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue
to be, furnished with all materials relating to the business, finances and operations of the Company and materials relating to
the offer and sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any,
have been, and for so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the
Company. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will
not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure
to the Buyer. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives
shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below.
The Buyer understands that its investment in the Securities involves a significant degree of risk. The Buyer is not aware of any
facts that may constitute a breach of any of the Company’s representations and warranties made herein.

 

    2

     

    

 

e.  Governmental Review. The Buyer understands that no United States federal or state agency or any other
government or governmental agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.
Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being
registered under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the
Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to
the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”))
of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited
Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the
1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of
the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only
in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the
foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a
bona fide margin account or other lending arrangement.

 

g.
Legends. The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the
1933 Act may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form
(and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL
SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

    3

     

    

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within 2 business
days, it will be considered an Event of Default under the Note.

 

h.
 Authorization; Enforcement. This Agreement has been duly and validly authorized.
This Agreement has been duly executed and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding
agreement of the Buyer enforceable in accordance with its terms.

 

i.
Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

    4

     

    

 

b.  Authorization; Enforcement. (i) The Company has all requisite corporate power and authority
to enter into and perform this Agreement, the Note and to consummate the transactions contemplated hereby and thereby and to issue
the Securities, in accordance with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by
the Company and the consummation by it of the transactions contemplated hereby and thereby (including without limitation, the
issuance of the Note and the issuance and reservation for issuance of the Conversion Shares issuable upon conversion or exercise
thereof) have been duly authorized by the Company’s Board of Directors and no further consent or authorization of the Company,
its Board of Directors, or its shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company
by its authorized representative, and such authorized representative is the true and official representative with authority to
sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement
constitutes, and upon execution and delivery by the Company of the Note, each of such instruments will constitute, a legal, valid
and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

c.
 Issuance of Shares. The Conversion Shares are duly authorized and reserved for
issuance and, upon conversion of the Note in accordance with its respective terms, will be validly issued, fully paid and non-assessable,
and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

d.
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock
upon the issuance of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to
issue Conversion Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional
regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by
the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for
issuance of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of
Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default
(or an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company
or any of its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the
Company or its securities are subject) applicable to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries is bound or affected (except for such conflicts, defaults,
terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a material
adverse effect). All consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant
to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company is not in violation of the
listing requirements of the Over-the-Counter Quotations Bureau (the “OTCQB”) and does not reasonably anticipate that
the Common Stock will be delisted by the OTCQB in the foreseeable future, nor are the Company’s securities “chilled”
by FINRA. The Company and its subsidiaries are unaware of any facts or circumstances, which might give rise to any of the foregoing.

 

    5

     

    

 

f.
Absence of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries,
or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a
complete list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting
the Company or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its
subsidiaries are unaware of any facts or circumstances, which might give rise to any of the foregoing.

 

g.
Acknowledgment Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely
in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation
and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the Company’s
decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its representatives.

 

h.
 No integrated Offering. Neither the Company, nor any of its affiliates, nor any
person acting on its or their behalf, has directly or indirectly made any offers or sales in any security or solicited any offers
to buy any security under circumstances that would require registration under the 1933 Act of the issuance of the Securities to
the Buyer. The issuance of the Securities to the Buyer will not be integrated with any other issuance of the Company’s securities
(past, current or future) for purposes of any shareholder approval provisions applicable to the Company or its securities.

 

    6

     

    

 

i.
Title to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described
in Schedule 3(i) or such as would not have a material adverse effect. Any real property and facilities held under lease by the
Company and its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not
have a material adverse effect.

 

j.
 Bad Actor. No officer or director of the Company would be disqualified under
Rule 506(d) of the Securities Act as amended on the basis of being a “bad actor” as that term is established in the
September 19, 2013 Small Entity Compliance Guide published by the Securities and Exchange Commission.

 

k.
Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will
be considered an Event of default under the Note.

 

4. COVENANTS.

 

a.
Expenses. At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation,
preparation, execution, delivery and performance of this Agreement and the other agreements to be executed in connection herewith
(“Documents”), including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent
fees, fees for stock quotation services, fees relating to any amendments or modifications of the Documents or any consents or
waivers of provisions in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring
the transactions contemplated by the Documents. When possible, the Company must pay these fees directly, otherwise the Company
must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately upon written notice by the Buyer
or the submission of an invoice by the Buyer. The Company’s obligation with respect to this transaction is to reimburse Buyer’s
expenses shall be $2,000 in legal fees, which shall be deducted from the Note when funded.

 

b.
Listing. The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange
or automated quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance)
and, so long as the Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain
and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its Common Stock on the OTCQB, OTC Pink,
or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market (“Nasdaq
SmallCap”), the New York Stock Exchange (“NYSE”), or the American Stock Exchange (“AMEX”) and will comply
in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and such exchanges, as applicable. The Company
shall promptly provide to the Buyer copies of any notices it receives from the OTCQB, OTC Pink, and any other exchanges or quotation
systems on which the Common Stock is then listed regarding the continued eligibility of the Common Stock for listing on such exchanges
and quotation systems.

 

    7

     

    

 

c.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale
of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the
Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly
traded corporation whose Common Stock is listed for trading on the OTC Pink, OTCQB, Nasdaq, Nasdaq SmallCap, NYSE or AMEX.

 

d.
 No Integration. The Company shall not make any offers or sales of any security
(other than the Securities) under circumstances that would require registration of the Securities being offered or sold hereunder
under the 1933 Act or cause the offering of the Securities to be integrated with any other offering of securities by the Company
for the purpose of any stockholder approval provision applicable to the Company or its securities.

 

e.
Registration Rights. With respect to any Company issued note owned by the Buyer, in the event the Company completes a registration
statement for its securities prior to the date on which that particular note is eligible for conversion into legend free shares
under Rule 144, the shares issuable upon conversion of that particular note shall be “piggybacked” onto the registration
statement.

 

f.
 Breach of Covenants. If the Company breaches any of the covenants set forth in
this Section 4, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered
an event of default under the Note.

 

    8

     

    

 

5. Governing
Law: Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of Florida or in the federal courts located in the state and county
of Florida. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s
fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision, which
may prove invalid or unenforceable under any law, shall not affect the validity or enforceability of any other provision of any
agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action
or proceeding in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered or
certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b.
Counterparts; Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to
the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.
 Severability. In the event that any provision of this Agreement is invalid or
unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any provision hereof which
may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.

 

e.
 Entire Agreement; Amendments. This Agreement and the instruments referenced herein
contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically
set forth herein or therein, neither the Company nor the Buyer makes any representation, warranty, covenant or undertaking with
respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument in writing signed
by the majority in interest of the Buyer.

 

    9

     

    

 

f.
 Notices. All notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii)
deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier
service with charges prepaid, or (iv) transmitted by hand delivery, telegram, or
facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written notice.
Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number
designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid,
addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications
shall be:

 

If
to the Company, to:

 

NanoFlex
Power Corporation

15333
N Prima Road

Scottsdale, AZ 85260

Attn: Dean Ledger

 

If
to the Buyer:

 

APG
Capital Holdings, LLC

4846
N. University Drive, Suite 103

Lauderhill, FL 3351

Attn:
Manager

 

Each
party shall provide notice to the other party of any change in address.

 

g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the
prior written consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that
purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined
under the 1934 Act, without the consent of the Company.

 

h.
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage
arising as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and
covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses
as they are incurred.

 

    10

     

    

 

j.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

k.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

1.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Buyer by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the
remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other
available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining,
preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

    11

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

	NanoFlex
    Power Corporation	 
	 	 	 
	By:	/s/
    Dean Ledger	 
	Name: 	Dean
    Ledger	 
	Title:	CEO	 

 

	APG
Capital Holdings, LLC.
	 
	 	 	 
	By:	 	 
	Name: 	Manager	 

 

	Aggregate Principal Amount of Note:	 	$	40,000.00	 
	 	 	 	 	 
	Less
$2,000.00 in legal fees	 	 	 	 

 

    12

     

    

 

EXHIBIT
A

 

144
NOTE - $40,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13Exhibit 10.1

 

 

 

	CLAUDINE MACARTNEY	 	 
	CHIEF HUMAN RESOURCES OFFICER	 	 
	175 Water Street, 21th Floor	 	 
	New York, NY 10038	 	 
	T: 212.458.2012	 	 
	EFAX: 212.338.1942	 	 

 

May
10, 2018

 

Mark
D. Lyons

 

Dear Mark,

 

We
are pleased to confirm the terms of your joining American International Group, Inc, (“AIG” or the “Company”).

 

		· 

	Start
Date. Your start date will be as soon as practicable, subject to any legally enforceable obligations to your current employer,
Arch Capital Group (“Start Date”).

 

		· 

	Position. On your Start Date, you
will serve as Senior Vice President and Chief Actuary for General Insurance, a grade 28 position. In this capacity, you will report
directly to Peter Zaffino, CEO General Insurance and Global Chief Operating Officer.

 

		· 

	Location & Employer. You will
be based in New York and employed directly by AIG Employee Services (your "Employer").

 

		· 

	Total
                                         Direct
                                         Compensation.
                                         Your initial annual target direct compensation will be $3,000,000.

 

		· 

	Base Salary.
Your initial base cash salary will be at a rate of $750,000 per year.

 

		· 

	Short Term Incentive.
Your annual incentive target will be $1,050,000. Annual incentives arc currently determined and paid in accordance with the American
International Group, Inc. Short-Term Incentive Plan. For the year in which you begin employment, your STI will not be pro rated,
will be guaranteed at target and will be payable when STI awards are regularly paid to similarly-situated active employees. Any
bonus or incentive compensation paid to you is subject to the AIG Clawback Policy as may be amended from time to time.

 

		· 

	Long Term Incentive. A recommendation
on your behalf will be made to the Compensation and Management Resources Committee (CMRC) of the Board of Directors that, under
the AIG Long Term Incentive Plan (the “LTIP”), you be granted a Long Term Incentive (“LTI”) Award based
on a fair market value of $1,200,000 for 2019. This grant is contingent on your being an active employee of the Company on the
date of CMRC approval of the grant, and will be subject to the terms and conditions of the relevant LTIP and the award agreement
governing the grant.

 

    	1

     

    

 

		· 

	Buy-Out. In consideration of foregone
amounts from your current employer, Arch Capital Group, we will provide a grant as soon as administratively practicable following
the Start Date in the form of AIG options with a fair market value of $3,000,000, with an exercise price equal to the closing price
per share of AIG Common Stock on the grant date and subject to the following conditions:

 

		·

	50% of the options will vest in three equal,
annual installments on each of the first three anniversaries of the grant date.

 

		·

	50%
of the options will vest as follows:

 

		■	1/3
will vest only if, for twenty consecutive trading days the closing price of AIG common stock is at least $ 10 over the exercise
price, but no earlier than three equal annual installments on each of the first three anniversaries of the grant date.

		■	1/3
will vest only if, for twenty consecutive trading days the closing price of AIG common stock is at least $20 over the exercise
price.

		■	1/3
will vest only if, for twenty consecutive trading days the closing price of AIG common stock is at least $30 over the exercise
price.

 

		·

	This grant is subject to CMRC approval, and
provided you have not resigned or your employment has not been terminated for Cause prior to the vesting date. For the purposes
of this paragraph only, “Cause” shall be defined as (1) any conduct involving intentional wrongdoing, fraud, dishonesty,
gross negligence or willful misconduct or (2) any act or omission that constitutes a material breach of the terms of your Offer
Letter the Company’s Code of Conduct, or any other personnel or compliance policy applicable to you.

 

	 	 	This grant is subject to the terms of the AIG 2013 Omnibus Incentive Plan (as applicable), the relevant award agreement and review by AIG of documentation evidencing the foregone awards.

 

		

		·

	Benefits.
You will be entitled to benefits consistent with senior executives of AIG and the reimbursement of reasonable business expenses,
in each case in accordance with applicable AIG policies as in effect from time to time. In addition, AIG will reimburse your reasonable
legal fees incurred in connection with your offer from AIG.

 

		·

	Paid
Time Off You will be eligible for 30 days of PTO on an annual basis, accruing in accordance with the terms set forth in the
Employee Handbook.

 

		·

	Executive
Severance Plan. You will also be eligible for benefits under the Company’s Executive Severance Plan, for covered terminations
under that plan.

 

		·

	Notice
Period. You agree that if you voluntarily resign, you will give three months’ written notice to the Company of your
resignation, which may be working notice or non-working notice at the Company's sole discretion and which notice period is waivable
by the Company at the Company’s sole discretion. If you execute an LHP award agreement containing a longer notice period
than the notice period contained in this offer letter, the notice period in the LTD5 award agreement will govern.

 

    	2

     

    

 

		·

	Clawback Policy. Any bonus, equity
or equity-based award or other incentive compensation granted to you (other than the Buy-Out option grant described above) will
be subject to the AIG Clawback Policy (and any other AIG clawback policies as may be in effect from time to time).

 

		·

	Indemnification and Cooperation. During
and after your employment, AIG will indemnify you in your capacity as a director, officer, employee or agent of AIG to the fullest
extent permitted by applicable law and AlG's charter and by-laws, and will provide you with director and officer liability insurance
coverage (including post-termination/post-director service tail coverage) on the same basis as AIG's other executive officers.
AIG agrees to cause any successor to all or substantially all of the business or assets (or both) of AIG to assume expressly in
writing and to agree to perform all of the obligations of AIG in this paragraph.

 

	 	You agree (whether during or after your employment with AIG) to reasonably cooperate with AIG in connection with any litigation or regulatory matter or with any government authority on any matter, in each case, pertaining to AIG and with respect to which you may have relevant knowledge, provided that, in connection with such cooperation, AIG will reimburse your reasonable expenses and you shall not be required to act against your own legal interests.

 

		·

	Tax
Matters. Tax will be withheld by your Employer and/or AIG as appropriate under applicable tax requirements for any payments
or deliveries under this letter. To the extent any taxable expense reimbursement or in-kind benefits under this letter is subject
to Section 409A of the U.S. Internal Revenue Code of 1986, the amount thereof eligible in one taxable year shall not affect the
amount eligible for any other taxable year, in no event shall any expenses be reimbursed after the last day of the taxable year
following the taxable year in which you incurred such expenses and in no event shall any right to reimbursement or receipt of
in-kind benefits be subject to liquidation or exchange for another benefit. Each payment under this letter will be treated as
a separate payment for purposes of Section 409A.

 

	 	In the event that any payments or benefits otherwise payable to you (1) constitute “parachute payments” within the meaning of Section 280G of the Code, and (2) but for this paragraph would be subject to the excise tax imposed by Section 4999 of the Code, then such payments and benefits will be either (x) delivered in full, or (y) delivered as to such lesser extent that would result in no portion of such payments and benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and employment taxes and the excise tax imposed by Section 4999 of the Code (and any equivalent state or local excise taxes), results in the receipt by you on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such payments and benefits may be taxable under Section 4999 of the Code. Any reduction in payments and/or benefits required by this provision will occur in the following order: (1) reduction of cash payments; (2) reduction of vesting acceleration of equity awards; and (3) reduction of other benefits paid or provided to you. In the event that acceleration of vesting of equity awards is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant for equity awards.

 

    	3

     

    

 

		·

	No Guarantee of Employment or Target Direct
Compensation. This offer letter is not a guarantee of employment or target direct compensation for a fixed term.

 

		·

	Entire Agreement. This offer letter
constitutes AIG and your AIG Employer's only statement relating to its offer of employment to you and supersedes any previous communications
or representations, oral or written, from or on behalf of AIG or any of its affiliates.

 

		·

	Miscellaneous Representations. You
confirm and represent to AIG. by signing this letter, that: (a) you have not taken (or failed to return) any confidential information
belonging to your prior employer or any other entity, and, to the extent you remain in possession of any such information, you
will never use or disclose such information to AIG or any of its employees, agents or affiliates; (b) you understand and accept
all of the terms and conditions of this offer; and (c) you acknowledge that your AIG Employer is an intended third party beneficiary
of this offer letter.

 

		·

	Non-Solicitation.
This offer and your employment with AIG are contingent on your entering into the enclosed Non-Solicitation and Non- Disclosure
Agreement.

 

		·

	Employment Dispute Resolution. You
are a participant in the Company’s Employment Dispute Resolution (“EDR”) program, which provides for various
ways to address work- related disputes, including mediation and arbitration, through the American Arbitration Association (“AAA”).
Information on the company’s EDR Program is available to employees via the Company Intranet and can be made available to
you prior to your date of hire upon request.

 

This
offer is contingent upon the successful results of a background investigation, which may include, but may not be limited to, verification
of employment, professional certifications, designations or licenses, criminal and credit history, and educational background;
your proof of eligibility to work in the United States; and your execution and return of the enclosed Non- Solicitation and Non-Disclosure
Agreement. If you accept this offer and are allowed to start your employment while these conditions or contingencies remain pending,
this offer may be rescinded and your employment terminated if they are not subsequently successfully completed.

 

Pursuant
to the AIG Related Party Transactions Approval Policy, this offer and your employment is also contingent on your agreement to fully
liquidate any ownership position held by you in a competitor company and/or primary broker as soon as is practicable.

 

To
ensure a smooth onboarding process, you will receive an email from AIG Talent Acquisition with log in credentials for the
onboarding website. The website contains information about working at AIG, your benefits, and also contains all the forms you
will be required to complete prior to Day 1. Please complete your new hire paperwork as soon as possible upon receipt of your
log in credentials. Failure to do so could delay your paycheck, as well as your access to systems and equipment. On your
start date, please bring documents to verify your employment eligibility (a list of acceptable documents is found in the 1-9
form contained in the onboarding website). As noted above, the website contains summaries of benefit information and the AIG
Employee Handbook (providing information on many of AIG’s policies and procedures governing your
employment).

 

    	4

     

    

 

Please
return a scanned signed copy of this letter to Executive Recruiting:

 

Jennie.Anderson@aig.com
or desktop fax +1-866-696-5550.

 

We
look forward to welcoming you to AIG, and wish you every success in your new role.

 

Yours
sincerely,

 

	/s/
    Claudine Macartney	 
	Claudine
    Macartney	 
	EVP and Chief Human
    Resources Officer	 

 

    	5

     

    

 

ACKNOWLEDGEMENT
AND ACCEPTANCE

 

I, Mark
D. Lyons, understand and accept the terms and conditions of this offer letter, including the pay rates and salary payment
timing information:

 

	/s/ Mark
    D. Lyons	 	5/13/2018
	Mark D. Lyons	 	Date

  

    	6

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