Document:

EXHIBIT 10.4 

 

SECURITY AGREEMENT - CONVERTIBLE SECURED
PROMISSORY NOTE

 

 

THIS SECURITY AGREEMENT
(this “Agreement”) is made and entered into this 18th day of September 2017, by and between SFE
VCF, LLC, a California limited liability company (the “Secured Party”) and Envision Solar International, Inc.,
a Nevada corporation (“Debtor”).

 

RECITALS

 

A.       Debtor
has become obligated to make payment of certain monies to the Secured Party pursuant to a written Convertible Secured Promissory
Note of even date herewith (the “Note”).

 

B.       As
an express condition of Secured Party’s accepting the Note, Secured Party requires that the Debtor grant the Secured Party
a security interest in all of Debtor’s assets, as more fully described in Section 1 to this Agreement.

 

WHEREFORE, the parties
do hereby agree as follows:

 

1.       Grant
of Security Interest.

 

As security for the payment
of all amounts payable under the aforesaid Note, Debtor hereby grants to Secured Party a first priority, recorded, perfected security
interest in the following assets of the Debtor (the “Collateral”):

 

“All of Debtor’s now owned
or hereafter existing or acquired cash, cash equivalents, marketable securities, purchase orders, accounts receivable, general
intangibles, tangible assets, equipment, furniture, fixtures, inventory, goods, instruments, personal property, and chattel paper,
together with all proceeds derived from such assets.”

 

Said security interest
in the Collateral is hereby granted upon the terms, covenants and agreements set forth in this Agreement.

 

2.       Representations
as to Ownership.

 

Debtor hereby represents
that it has not sold, transferred or otherwise disposed of, or agreed to sell, transfer or otherwise dispose of the Collateral
or any part thereof or any interest therein except in the ordinary course of business. Debtor further represents that it has not
encumbered, or agreed to encumber, the Collateral or any part thereof or any interest therein, except in the ordinary course of
business or in accordance with that certain Revolving Convertible Promissory Note by and between Debtor and Secured Party, dated
of even date herewith.

 

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3.       Covenants
of Debtor.

 

Debtor hereby covenants and agrees with Secured
Party that, during the term hereof:

 

(a)       Debtor
shall not sell, transfer or otherwise dispose of the Collateral or any part thereof, or agree to sell, transfer or otherwise dispose
of the Collateral or any part thereof, or any interest therein, without the prior written consent of Secured Party, except in the
ordinary course of business;

 

(b)       Debtor
shall not encumber, or agree to encumber, the Collateral, or any part thereof or any interest therein, by a prior security interest
without the prior written consent of Secured Party, except in the ordinary course of business;

 

(c)       Debtor
shall not permit or suffer any lien to hereafter attach to, or be levied upon, the Collateral or any party thereof or any interest
therein, under legal process and to continue unextinguished for a period of more than ninety (90) days unless, within such ninety
(90) day period, an appropriate bond satisfactory to Secured Party is given to stay the effect of such lien, except in the ordinary
course of business;

 

(d)       Until
all obligations secured hereby are paid in full, Debtor shall defend the Collateral against the claims and demands of all persons
arising out of matters occurring after the delivery hereof, other than matters which are the obligations of Secured Party, and
promptly pay, when due, all taxes and assessments upon the Collateral; and

 

(e)       Debtor
will execute and Lender will properly record a UCC-1 Financing Statement (which Lender may do without Debtor’s signature),
and such other documents, and do such other acts and things, as the Secured Party may reasonably require from time to time to establish
and maintain a valid perfected recorded security interest in the Collateral.

 

4.       Default.

 

(a)       An
Event of Default shall be deemed to have occurred hereunder if Debtor defaults under any of its payment obligations to the Secured
Party in the Note, or shall materially breach any term of the Note or this Agreement.

 

(b)       Upon
the occurrence of an Event of Default hereunder, Secured Party may, at its option:

 

(i)       Declare
all obligations secured hereby immediately due and payable; and

 

(ii)       
Proceed forthwith with foreclosure of its security interests in the Collateral in the manner provided by law, and may cause the
Collateral to be sold, upon due notice, at the election of Secured Party, at either public or private sale, for cash or upon terms,
at such price or prices, and in such manner in all respects as Secured Party may deem proper, and at such sale Secured Party may
purchase the whole or any part of the Collateral. From the proceeds of any such sale Secured Party shall first pay all costs and
expenses (including reasonable expenses for attorneys’ fees), and shall apply the balance of such proceeds to accrued unpaid

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interest and then to principal on the Note.

 

(iii)       Secured
Party may seek all other remedies available to it at law or in equity under California law, including without limitation the California
uniform commercial code.

 

5.       Appointment
of Secured Party as Attorney-in-Fact.

 

Debtor hereby appoints
Secured Party as Debtor’s Attorney-in-Fact to do the following in the Event of Default by the Debtor:

 

(a)       Receive,
take, endorse, assign and deliver in Secured Party’s name or Debtor’s name any and all checks, notes, drafts and other
instruments relating to the Collateral;

 

(b)       Take
or bring in the name of Debtor or Secured Party all steps, actions and suits deemed by Secured Party necessary or desirable to
effect collection of the Collateral;

 

(c)       Settle,
compromise or release in whole or in part, any amounts due Debtor from his account debtors;

 

(d)       Extend
the time for payment of any sums due to Debtor by Debtor’s account debtors; and

 

(e)       Do
all things necessary or appropriate to carry out this Agreement.

 

This power, being coupled
with interest, is irrevocable so long as Debtor has any obligation to the Secured Party under the Note. Secured Party shall be
further permitted access to all of Debtor’s books and records relating to the Collateral during normal working hours, on
such notice as Secured Party may deem appropriate.

 

6.       Release
of Security Interest.

 

Upon performance of all
obligations secured hereby, the security interests herein granted shall terminate and Secured Party shall execute such instruments
and perform such acts as may be reasonably requested by Debtor in connection with the release and termination of such security
interest.

 

7.       No
Waiver.

 

No waiver by Secured Party
of any default hereunder shall operate as a waiver of any other default hereunder or of the same default on a future occasion.
All rights and remedies of Secured Party hereunder, or under any other instrument securing any of the obligations secured hereby,
shall be cumulative to the full extent permitted by law.

 

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8.       Notices.

 

All notices, demands, requests
or other communications required or permitted to be given or made under this Security Agreement shall be in writing and shall be
deemed to have been duly given or served if sent by United States registered or certified mail, postage prepaid, addressed to the
party intended, or by personal delivery, at its address set forth below (or such other address as it may designate by notice given
to the other party in manner aforesaid) to wit:

 

Secured Party:

 

SFE
VCF, LLC

P.O.
Box 5005 PMB 134 

Rancho
Santa Fe, CA 92067

Telephone: _________

Email Address: ________________

Attention:

 

Debtor:

 

Envision Solar International, Inc.

5660 Eastgate Drive

San Diego, California 92126

Telephone No.: (858) 799-4583

Email Address: desmond.wheatley@envisionsolar.com

Attention: Desmond Wheatley, Chief
Executive Officer

 

In the case of a mailed
notice, the registration slip or certificate slip, and not the return slip, shall be conclusive evidence of the mailing of any
such notice, and such notice shall be deemed to have been given three (3) days after such mailing.

 

9.       Miscellaneous.

 

(a)       Applicable
Law. This Agreement shall, in all respects, be governed by the laws of the State of California.

 

(b)       Severability.
Nothing contained herein shall be construed so as to require the commission of any act contrary to law, and wherever there is any
conflict between any provision contained herein and any present or future statute, law, ordinance or regulation, the latter shall
prevail, and the provision of this Agreement which is affected shall be curtailed and limited only to the extent necessary to bring
it within the requirements of the law.

 

(c)       Further
Assurances. Each of the parties hereto shall execute and deliver, and acknowledge as appropriate any and all additional papers,
documents and other assurances, and shall do any and all acts and things reasonably necessary in connection with the performance
of their obligations hereunder to carry out the intent of the parties hereto, including without limitation the execution and recording
of a UCC-1 Financing Statement in a form satisfactory to Secured Party and its counsel.

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(d)       Modification
or Amendments. No amendment, change or modification of this Agreement shall be valid, unless in writing and signed by all of
the parties to this Agreement.

 

(e)       Successors
and Assigns. Except as otherwise expressly provided herein, no party may assign or transfer its rights or obligations hereunder
without the written consent of all parties to this Agreement. If properly assigned and transferred, all of the terms and provision
contained herein shall inure to the benefit of and shall be binding upon the parties hereto and their respective heirs, legal representatives,
successor and assigns.

 

(f)       Entire
Agreement. This Agreement constitutes the entire understanding and agreement of the parties with respect to its subject matter
and any and all prior agreements, understandings and representations with respect to its subject matter are hereby terminated and
cancelled in their entirety and are of no further force or effect. No party shall be entitled to rely on any statement, representation
or agreement not herein stated.

 

(g)       Interpretation.
The covenants of good faith and fair dealing are incorporated herein by this reference. This Agreement shall, whenever possible,
be given a reasonable practical and workable interpretation so as to affect the general intentions of the parties. Neither party
shall be entitled to any advantages due to another party’s preparation of this Agreement.

 

(h)       Captions.
The captions appearing at the commencement of the paragraph hereof are descriptive only and for convenience in reference. Should
there be any conflict between any such caption and the paragraph at the head of which it appears, the section and not such caption
shall control and govern in the construction of this Agreement.

 

(i)       Parties
in Interest. Nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies under or by
reason of the Agreement on any persons other than the parties and, where applicable, their respective owners, partners, shareholders,
directors, officers, employees, servants, representatives, agents heirs, executors, administrators, successors and/or assigns.
Nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third person to any party
to this Agreement.

 

(j)       Exhibits.
All exhibits attached hereto are hereby incorporated by this reference.

 

(k)       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

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IN WITNESS WHEREOF, the
parties have executed this Security Agreement on the date first hereinabove set forth.

 

 

Secured
Party:

 

SFE VCF,
LLC,

A California limited liability company

 

 

 

 

By: /s/ Lender

 

 

 

Its: 

 

 

 

 

DEBTOR:

 

Envision Solar International, Inc.

 

 

 

By: /s/ Desmond Wheatley

Desmond Wheatley, Chief
Executive OfficerEXHIBIT 10.5 

 

THIS SECURITY HAS NOT BEEN REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED
OR SOLD UNLESS REGISTERED AND QUALIFIED PURSUANT TO THE APPLICABLE PROVISIONS OF FEDERAL AND STATE SECURITIES LAWS OR UNLESS AN
EXEMPTION FROM SUCH REGISTRATION OR QUALIFICATION APPLIES. THEREFORE, NO SALE OR TRANSFER OF THIS SECURITY SHALL BE MADE, NO ATTEMPTED
SALE OR TRANSFER SHALL BE VALID, AND THE ISSUER SHALL NOT BE REQUIRED TO GIVE ANY EFFECT TO ANY SUCH TRANSACTION UNLESS (A) SUCH
TRANSACTION HAS BEEN DULY REGISTERED UNDER THE ACT AND QUALIFIED OR APPROVED UNDER APPROPRIATE STATE SECURITIES LAWS, OR (B) THE
ISSUER HAS FIRST RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH REGISTRATION, QUALIFICATION OR APPROVAL
IS NOT REQUIRED. 

 

 

WARRANT

 

For the Purchase of Shares of Common
Stock of

 

ENVISION SOLAR INTERNATIONAL, INC.

 

Void After 5 P.M. __________ __, 20__

 

	No.	 	Date:	 

 

Warrant to Purchase _______________________
(_____) Shares of Common Stock

 

THIS IS TO CERTIFY, that, for
value received, _______________________, or registered assigns (the “Holder”), is entitled, subject to the terms and
conditions hereinafter set forth, on or after the date hereof, and at any time prior to 5 P.M., Pacific Time (“PT”),
on ________ __, 20__, but not thereafter, to purchase such number of shares of common stock, par value $0.001 (the “Shares”),
of Envision Solar International, Inc., a Nevada corporation (the “Company”), from the Company as set forth above, upon
payment to the Company of an amount per Share equal to (a) $0.15, if the Warrant is issued under Paragraph 6 of that certain Convertible
Secured Promissory Note, dated September __, 2017, issued by the Company, as borrower, to the Holder, as lender, or otherwise (b)
the greater of (i) $0.15 or (ii) 75% of the Volume Weighted Average Price of the Company’s common stock that is quoted on
a public securities trading market (if more than one, the one with the then highest trading volume), during the five (5) consecutive
trading days immediately prior to the date of the issuance of this Warrant, which is the date of this Warrant first above written
(the “Purchase Price”), if and to the extent this Warrant is exercised, in whole or in part, during the period this
Warrant remains in force, subject in all cases to adjustment as provided in Section 2 hereof, and to receive a certificate or certificates
representing the Shares so purchased upon presentation and surrender to the Company of this Warrant with the form of Subscription
Agreement attached hereto, including changes thereto reasonably requested by the Company, duly executed and accompanied by payment
of the Purchase Price of each Share.

 

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SECTION 1.

Terms of this Warrant

 

1.1       Time
of Exercise. This Warrant may be exercised at any time and from time to time after 9:00 A.M., PT, on the date hereof (the “Exercise
Commencement Date”), but no later than 5:00 P.M., PT on ________ __, 20__ (the “Expiration Time”), at which time
this Warrant shall become void and all rights hereunder shall cease.

 

1.2       Manner
of Exercise.

 

1.2.1       The
Holder may exercise this Warrant, in whole or in part, upon surrender of this Warrant, with the form of Subscription Agreement
attached hereto duly executed, to the Company at its corporate office in San Diego, California, and upon payment to the Company
of the full Purchase Price for each Share to be purchased in lawful money of the United States, or by certified or cashier’s
check, or wired funds, and upon compliance with and subject to the conditions set forth herein.

 

1.2.2       Upon
receipt of this Warrant with the form of Subscription Agreement duly executed and accompanied by payment of the aggregate Purchase
Price for the Shares for which this Warrant is then being exercised, the Company shall cause to be issued certificates for the
total number of whole Shares for which this Warrant is being exercised in such denominations as are required for delivery to the
Holder, and the Company shall thereupon deliver such certificates to the Holder or its nominee.

 

1.2.3       In
case the Holder shall exercise this Warrant with respect to less than all of the Shares that may be purchased under this Warrant,
the Company shall execute a new Warrant for the balance of the Shares that may be purchased upon exercise of this Warrant and deliver
such new Warrant to the Holder.

 

1.2.4       The
Company covenants and agrees that it will pay when due and payable any excise taxes which may be payable in respect of the issue
of this Warrant, or the issue of Shares upon the exercise of this Warrant. The Company shall not, however, be required to pay any
tax which may be payable in respect of any transfer involved in the issuance or delivery of this Warrant or of the Shares in a
name other than that of the Holder at the time of surrender, and until the payment of such tax the Company shall not be required
to issue such Shares.

 

1.3       Exchange
of Warrant. This Warrant may be divided into, combined with or exchanged for another Warrant or Warrants of like tenor to purchase
a like aggregate number of Shares. If the Holder desires to divide, combine or exchange this Warrant, he shall make such request
in writing delivered to the Company at its corporate office and shall surrender this Warrant and any other Warrants to be so divided,
combined or exchanged. The Company shall execute and deliver to the person entitled thereto a Warrant or Warrants, as the case
may be, as so requested. The Company shall not be required to effect any division, combination or exchange which will result in
the issuance of a Warrant entitling the Holder to purchase upon exercise a fraction of a Share. The Company may require the Holder
to pay a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any division, combination
or exchange of Warrants.

 

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1.4       Holder
as Owner. Prior to surrender of this Warrant in accordance with Section 1.5 for registration or assignment, the Company may
deem and treat the Holder as the absolute owner of this Warrant (notwithstanding any notation of ownership or other writing hereon)
for the purpose of any exercise hereof and for all other purposes, and the Company shall not be affected by any notice to the contrary.

 

1.5       Method
of Assignment. Any assignment or transfer of any portion or all of this Warrant shall be made by surrender of this Warrant
to the Company at its principal office with the form of assignment attached hereto duly executed and accompanied by funds sufficient
to pay any transfer tax. In such event, the Company shall, without charge, execute and deliver a new Warrant in the name of the
assignee named in such instrument of assignment and this Warrant shall promptly be canceled.

 

1.6       Rights
of Holder. Nothing contained in this Warrant shall be construed as conferring upon the Holder the right to vote, consent or
receive notice as a shareholder in respect of any meetings of shareholders for the election of directors or any other matter, or
as having any rights whatsoever as a shareholder of the Company, until Shares are duly and properly issued to the Holder upon the
exercise of this Warrant.

 

1.7       Lost
Certificates. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall, on such reasonable terms as to indemnity
or otherwise as it may impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant
of like denomination and tenor as, and in substitution for, this Warrant, which shall thereupon become void. Any such new Warrant
shall constitute a substituted and not an additional contractual obligation of the Company.

 

1.8       Covenants
of the Company. The Company covenants and agrees as follows:

 

1.8.1       At
all times the Company shall reserve and keep available for the exercise of this Warrant such number of authorized shares of Common
Stock as are sufficient to permit the exercise in full of this Warrant.

 

1.8.2       The
Company covenants that all Shares when issued upon the exercise of this Warrant will be validly issued, fully paid, nonassessable
and free of preemptive rights.

 

 

SECTION 2.

Adjustment of Purchase Price

and Number of Shares Purchasable upon
Exercise

 

2.1       Stock
Splits. If the Company at any time or from time to time after the issuance date of this Warrant effects a subdivision of the
outstanding Common Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately decreased,
and conversely, if the Company at any time or from time to time after the issuance date of this Warrant combines the outstanding
shares of Common Stock, the Purchase Price then in effect immediately before the combination shall be proportionately increased.
Any adjustment under this subsection 2.1 shall become effective at the close of business on the date the subdivision or combination
becomes effective.

 

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2.2       Dividends
and Distributions. In the event the Company at any time, or from time to time after the issuance date of this Warrant makes,
or fixes a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable
in additional shares of Common Stock, then and in each such event the Purchase Price then in effect shall be decreased as of the
time of such issuance or, in the event such a record date is fixed, as of the close of business on such record date, by multiplying
the Purchase Price then in effect by a fraction (i) the numerator of which is the total number of shares of Common Stock issued
and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (ii) the denominator
of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance
or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or
distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution
is not fully made on the date fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on
such record date and thereafter the Purchase Price shall be adjusted pursuant to this subsection 2.2 as of the time of actual payment
of such dividends or distributions.

 

2.3       Recapitalization
or Reclassification. If the Shares issuable upon the exercise of the Warrant are changed into the same or a different number
of shares of any class or classes of stock, whether by recapitalization, reclassification or otherwise (other than a subdivision
or combination of shares or stock dividend or a reorganization, merger, consolidation or sale of assets, provided for elsewhere
in this Section 2), then, and in any such event, the Holder shall thereafter be entitled to receive upon exercise of this Warrant
such number and kind of stock or other securities or property of the Company to which a holder of Shares deliverable upon exercise
of this Warrant would have been entitled on such reclassification or other change, subject to further adjustment as provided herein.

 

 

SECTION 3.

Status Under the Securities Act of
1933

 

This Warrant and
the Shares issuable upon exercise of this Warrant have not been registered under the Securities Act of 1933, as amended (“the
Act”). Upon exercise, in whole or in part, of this Warrant, the certificates representing the Shares shall bear the legend
first above written.

 

 

SECTION 4. 

Other Matters

 

4.1       Binding
Effect. All the covenants and provisions of this Warrant by or for the benefit of the Company shall bind and inure to the benefit
of its successors and assigns hereunder.

 

4.2       Notices.
Notices or demands pursuant to this Warrant to be given or made by the Holder to or on the Company shall be sufficiently given
or made if sent by certified or registered mail, return receipt requested, postage prepaid, or by email or facsimile or personal
delivery and addressed, until another address is designated in writing by the Company, as follows:

 

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Envision Solar International,
Inc.

5660 Eastgate Drive

San Diego, California 92126

Telephone No.: (858) 799-4583

Facsimile No.: (858) ________

Email Address: ________________

Attention: Desmond Wheatley,
Chief Executive Officer

 

Notices to the Holder
provided for in this Warrant shall be deemed given or made by the Company if sent by certified or registered mail, return receipt
requested, postage prepaid, or by facsimile or email or personal delivery and addressed to the Holder at his last known address
as it shall appear on the books of the Company.

 

4.3       Governing
Law. The validity, interpretation and performance of this Warrant shall be governed by the laws of the State of California.
The venue for any legal proceedings under this Warrant will be in the appropriate forum in the County of San Diego, State of California.

 

4.4       Parties
Bound and Benefited. Nothing in this Warrant expressed and nothing that may be implied from any of the provisions hereof is
intended, or shall be construed, to confer upon, or give to, any person or corporation other than the Company and the Holder any
right, remedy or claim under any promise or agreement hereof, and all covenants, conditions, stipulations, promises and agreements
contained in this Warrant shall be for the sole and exclusive benefit of the Company and its successors and of the Holder, its
successors and permitted assigns.

 

4.5       Headings.
The Section headings herein are for convenience only and are not part of this Warrant and shall not affect the interpretation thereof.

 

 

IN WITNESS WHEREOF,
this Warrant has been duly executed by the Company as of ________, 201_.

 

 

ENVISION SOLAR INTERNATIONAL, INC.

 

 

 

 

By:
                                                                    

Desmond Wheatley,
Chief Executive Officer

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ASSIGNMENT OF WARRANT

 

 

 

 

FOR VALUE RECEIVED,
_______________________ hereby sells, assigns and transfers unto _____________________________ the within Warrant and the rights
represented thereby, and does hereby irrevocably constitute and appoint _______________________________ Attorney, to transfer said
Warrant on the books of the Company, with full power of substitution.

 

 

Dated:                 

 

 

Signed:                 

 

 

Signature guaranteed:

 

 

 

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SUBSCRIPTION AGREEMENT

FOR THE EXERCISE OF WARRANTS

 

The undersigned
hereby irrevocably subscribes for the purchase of _____________ Shares pursuant to and in accordance with the terms and conditions
of this Warrant, which Shares should be delivered to the undersigned at the address stated below. If said number of Shares are
not all of the Shares purchasable hereunder, a new Warrant of like tenor for the balance of the remaining Shares purchasable hereunder
should be delivered to the undersigned at the address stated below.

 

The undersigned
elects to pay the aggregate Purchase Price for such Shares in the following manner:

 

[ ]       by
the enclosed cash or check made payable to the Company in the amount of $________; or

 

[ ]       by
wire transfer of United States funds to the account of the Company in the amount of $____________, which transfer has been made
before or simultaneously with the delivery of this Notice pursuant to the instructions of the Company.

 

 

The undersigned
agrees that: (1) the undersigned will not offer, sell, transfer or otherwise dispose of any Shares unless either (a) a registration
statement, or post-effective amendment thereto, covering the Shares has been filed with the Securities and Exchange Commission
pursuant to the Securities Act of 1933, as amended (the “Act”), such sale, transfer or other disposition is accompanied
by a prospectus meeting the requirements of Section 10 of the Act forming a part of such registration statement, or post-effective
amendment thereto, which is in effect under the Act covering the Shares to be so sold, transferred or otherwise disposed of, and
all applicable state securities laws have been complied with, or (b) counsel reasonably satisfactory to Envision Solar International,
Inc. has rendered an opinion in writing and addressed to Envision Solar International, Inc. that such proposed offer, sale, transfer
or other disposition of the Shares is exempt from the provisions of Section 5 of the Act in view of the circumstances of such proposed
offer, sale, transfer or other disposition; (2) Envision Solar International, Inc. may notify the transfer agent for the Shares
that the certificates for the Shares acquired by the undersigned are not to be transferred unless the transfer agent receives advice
from Envision Solar International, Inc. that one or both of the conditions referred to in (1)(a) and (1)(b) above have been satisfied;
and (3) Envision Solar International, Inc. may affix the legend set forth in Section 3 of this Warrant to the certificates for
the Shares hereby subscribed for, if such legend is applicable.

 

	Dated:	 	Signed:	 
	 	 	 	 
	Signature	 	 	 
	guaranteed:	 	Address:

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