Document:

exv4w1

Exhibit 4.1

EXECUTION COPY

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of July 25, 2008, by
and among Lighting Science Group Corporation, a Delaware corporation (the “Company”), and Pegasus
Partners IV, L.P. (the “Investor”).

     WHEREAS, the Investor and the Company desire to enter into this Agreement to provide for
certain rights relating to the registration of shares of Common Stock;

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

1. DEFINITIONS. The following capitalized terms used herein have the following meanings:

     “Agreement” means this Agreement, as amended, restated, supplemented, or otherwise modified
from time to time.

     “Commission” means the Securities and Exchange Commission, or any other federal agency then
administering the Securities Act or the Exchange Act.

     “Common Stock” means the common stock, par value $0.001 per share, of the Company.

     “Company” is defined in the preamble to this Agreement.

     “Demand Registration” is defined in Section 2.1.1.

     “Demanding Holder” is defined in Section 2.1.1.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be in effect at the
time.

     “Form S-3” is defined in Section 2.3.

     “Form S-3 Registration” is defined in Section 2.3.

     “Guarantors” means the Persons listed on Schedule A.

     “Guarantor Warrant” means the warrant exercisable for 942,857 shares of Common Stock held by
the Investor issued on July 25, 2008.

     “Indemnified Party” is defined in Section 4.3.

     “Indemnifying Party” is defined in Section 4.3.

     “Investor” is defined in the preamble to this Agreement.

     “Investor Indemnified Party” is defined in Section 4.1.

     “Majority-in-Interest” is defined in Section 2.1.1.

     “Maximum Number of Securities” is defined in Section 2.1.4.

     “Pegasus” means Pegasus Partners IV, L.P.

     “Pegasus Parties” means, collectively, Pegasus and the transferees of Pegasus to whom rights
and obligations under this Agreement are assigned by Pegasus in accordance with Section 6.2.

     “Person” means an individual or a corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company,
government (or an agency or political subdivision thereof) or other entity of any kind.

     “Piggy-Back Registration” is defined in Section 2.2.1.

     “Pro Rata” is defined in Section 2.1.3.

     “Register,” “Registered” and “Registration” mean a registration effected by preparing and
filing a registration statement or similar document in compliance with the requirements of the
Securities Act, and the applicable rules and regulations promulgated thereunder, and such
registration statement becoming effective.

     “Registrable Securities” mean all of the shares of Common Stock, and the shares of Common
Stock issuable pursuant

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to the exercise of the Guarantor Warrant, owned or held by the Investor and the transferees of the
Investor to whom rights and obligations under this Agreement are assigned by the Investor in
accordance with Section 6.2; provided, however, that (i) Registrable Securities
shall include any shares of capital stock or other securities of the Company issued as a dividend
or other distribution with respect to or in exchange for or in replacement of Registrable
Securities and (ii) as to any particular Registrable Securities, such securities shall cease to be
Registrable Securities when: (a) a Registration Statement with respect to the sale of such
securities shall have become effective under the Securities Act and such securities shall have been
sold, transferred, disposed of or exchanged pursuant to such Registration Statement; (b) such
securities shall have been otherwise transferred, new certificates for them not bearing a legend
restricting further transfer shall have been delivered by the Company and subsequent public
distribution of them shall not require registration under the Securities Act; (c) such securities
shall have ceased to be outstanding, or (d) such securities are saleable under Rule 144 of the
Securities Act without regard to any volume limitation requirements under Rule 144 of the
Securities Act.

     “Registration Statement” means a registration statement filed by the Company with the
Commission in compliance with the Securities Act and the rules and regulations promulgated
thereunder for a public offering and sale of Registrable Securities (other than a registration
statement on Form S-4 or Form S-8, or their successors, or any registration statement covering only
securities proposed to be issued in exchange for securities or assets of another entity).

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
of the Commission promulgated thereunder, all as the same shall be in effect at the time.

     “Underwriter” means a securities dealer who purchases any Registrable Securities as principal
in an underwritten offering and not as part of such dealer’s market-making activities.

2. REGISTRATION RIGHTS.

     2.1 Demand Registration.

          2.1.1 Request for Registration. At any time and from time to time, the holders of a
majority-in-interest of the Registrable Securities held by the Pegasus Parties (determined on a
fully diluted basis, including assuming the issuance of all Registrable Securities underlying the
Guarantor Warrant, the “Majority-in-Interest”), may make a written demand for registration under
the Securities Act of all or part of their Registrable Securities (a “Demand Registration”). Any
demand for a Demand Registration shall specify the number of shares of Registrable Securities
proposed to be sold and the intended method(s) of distribution thereof. The Company shall promptly
notify all Pegasus Parties holding Registrable Securities of such demand, and each Pegasus Party
who wishes to include all or a portion of such Pegasus Party’s Registrable Securities in the Demand
Registration (each such Pegasus Party including Registrable Securities in such registration, a
“Demanding Holder”) shall so notify the Company within fifteen (15) days after the receipt by the
Pegasus Party of the notice from the Company. Upon any such request, the Demanding Holders shall be
entitled to have their Registrable Securities included in the Demand Registration, subject to
Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not be obligated to
effect more than an aggregate of three (3) Demand Registrations under this Section 2.1.1 in respect
of Registrable Securities.

          2.1.2 Effective Registration. A registration will not count as a Demand Registration until the
Registration Statement filed with the Commission with respect to such Demand Registration
registering all of the Registrable Securities specified in the notice received pursuant to Section
2.1.1, determined on the basis described in Section 2.1.1, has been declared effective and the
Company has complied with all of its obligations under this Agreement with respect thereto;
provided, however, that if, after such Registration Statement has been declared effective, the
offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop
order or injunction of the Commission or any other governmental agency or court, the Registration
Statement with respect to such Demand Registration will be deemed not to have been declared
effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) a Majority-in-Interest of the Demanding Holders thereafter elect to continue
the offering; provided, further, that the Company shall not be obligated to file a second
Registration Statement until a Registration Statement that has been filed is counted as a Demand
Registration or is terminated.

          2.1.3 Reduction of Offering. If the Company chooses to engage in an underwritten public
offering of a Demand Registration and if the managing underwriter or underwriters for a Demand
Registration that is to be an underwritten offering advises the Company and the Demanding Holders
in writing that the dollar amount or number of Registrable Securities which the Demanding Holders
desire to sell, taken together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock or other securities, if any, as to which
registration has been requested pursuant to written contractual piggy-back registration rights held
by other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or
maximum number of securities that can be sold in such offering without adversely affecting the
proposed offering price, the timing, the distribution method, or the probability of success of such
offering (such maximum dollar amount or maximum number of securities, as applicable, the “Maximum
Number of Securities”), then the Company shall include in such registration: (i) first, the
Registrable Securities as to which Demand Registration has been requested by the Demanding Holders
and the Registrable Securities, if any, as to which a Piggy- Back Registration has been requested
pursuant to Section 2.2.1 (pro rata in accordance with the number of securities that each

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such Person has requested be included in such registration, regardless of the number of securities
held by each such Person (such proportion is referred to herein as “Pro Rata”)) that can be sold
without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (i), the shares of Common
Stock or other securities that the Company desires to sell that can be sold without exceeding the
Maximum Number of Securities; (iii) third, to the extent that the Maximum Number of Securities has
not been reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other
securities for the account of other Persons that the Company is obligated to register pursuant to
written contractual arrangements with such Persons and that can be sold without exceeding the
Maximum Number of Securities.

          2.1.4 Withdrawal. If a Majority-in-Interest of the Demanding Holders disapprove of the terms
of any underwriting or are not entitled to include all of their Registrable Securities in any
offering, such Majority-in-Interest of the Demanding Holders may elect to withdraw from such
offering by giving written notice to the Company and the Underwriter or Underwriters of their
request to withdraw prior to the effectiveness of the Registration Statement filed with the
Commission with respect to such Demand Registration. If the Majority-in-Interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then such
registration shall not count as a Demand Registration provided for in Section 2.1.1.

2.2 Piggy-Back Registration.

          2.2.1 Piggy-Back Rights. Except with respect to the registration statements filed or to be
filed under Rule 415 pursuant to that certain Securities Purchase Agreement, dated as of March 9,
2007, between the Company and the investors party thereto, if at any time the Company proposes to
file a Registration Statement under the Securities Act with respect to an offering of equity
securities, or securities or other obligations exercisable or exchangeable for, or convertible
into, equity securities, by the Company for its own account or for stockholders of the Company for
their account (or by the Company and by stockholders of the Company including, without limitation,
pursuant to Section 2.1 or 2.3), other than a Registration Statement (i) filed in connection with
any employee stock option or other benefit plan, (ii) for an exchange offer or offering of
securities solely to the Company’s existing stockholders, (iii) for an offering of debt that is
convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then
the Company shall (x) give written notice of such proposed filing to the holders of Registrable
Securities as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such
offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter
or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in
such notice the opportunity to register the sale of such number of Registrable Securities as such
holders may request in writing within ten (10) days following receipt of such notice (a “Piggy-Back
Registration”). The Company shall cause such Registrable Securities to be included in such
registration and shall use its reasonable best efforts to cause the managing Underwriter or
Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to
be included in a Piggy-Back Registration on the same terms and conditions as any similar securities
of the Company and to permit the sale or other disposition of such Registrable Securities in
accordance with the intended method(s) of distribution thereof. All holders of Registrable
Securities proposing to distribute their securities through a Piggy-Back Registration that involves
an Underwriter or Underwriters shall enter into an underwriting agreement in customary form with
the Underwriter or Underwriters selected for such Piggy-Back Registration.

          2.2.2 Reduction of Offering. If the managing Underwriter or Underwriters for a Piggy-Back
Registration that is to be an underwritten offering advises the Company and the holders of
Registrable Securities in writing that the dollar amount or number of securities which the Company
desires to sell, taken together with shares of Common Stock or other securities, if any, as to
which registration has been demanded pursuant to written contractual arrangements with Persons
other than the holders of Registrable Securities hereunder, the Registrable Securities as to which
registration has been requested under this Section 2.2, and the shares of Common Stock or other
securities, if any, as to which registration has been requested pursuant to the written contractual
piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number of
Securities, then the Company shall include in any such registration:

          i. If the Registration is a Demand Registration or a Form S-3 Registration, the provisions of
Section 2.1.3 shall apply and references to Demand Registration in Section 2.1.3 shall be deemed to
refer to a Form S-3 Registration as required;

          ii. If the registration is undertaken for the Company’s account: (A) first, the shares of
Common Stock or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clause (A), the shares of Common Stock or other
securities, if any, requested to be registered pursuant to Section 2.2.2(ii) of that certain
Amended and Restated Registration Rights Agreement dated April 22, 2008, by and among the Company
and the investors signatory thereto, that can be sold without exceeding the Maximum Number of
Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (A) and (B), the shares of Common Stock or other securities, if any,
that are Registrable Securities, as to which registration has been requested pursuant to the
applicable written contractual piggy-back registration rights of such security holders, Pro Rata,
that can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and
(C), the shares of Common Stock or other securities for the account of other Persons that the

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Company is obligated to register pursuant to written contractual piggy-back registration rights
with such Persons and that can be sold without exceeding the Maximum Number of Securities; and

          iii. If the registration is a “demand” registration undertaken at the demand of Persons other
than the holders of Registrable Securities pursuant to written contractual arrangements with such
Persons, (A) first, the shares of Common Stock or other securities for the account of the demanding
Persons that can be sold without exceeding the Maximum Number of Securities; (B) second, to the
extent that the Maximum Number of Securities has not been reached under the foregoing clause (A),
the shares of Common Stock or other securities comprised of Registrable Securities, Pro Rata, as to
which registration has been requested pursuant to the terms hereof, that can be sold without
exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock
or other securities that the Company desires to sell that can be sold without exceeding the Maximum
Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other
securities for the account of other Persons that the Company is obligated to register pursuant to
written contractual arrangements with such Persons, that can be sold without exceeding the Maximum
Number of Securities.

          2.2.3 Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s
request for inclusion of Registrable Securities in any Piggy-Back Registration by giving written
notice to the Company of such request to withdraw prior to the effectiveness of the Registration
Statement. The Company (whether on its own determination or as the result of a withdrawal by
Persons making a demand pursuant to written contractual obligations) may withdraw a registration
statement at any time prior to the effectiveness of the Registration Statement. Notwithstanding any
such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable
Securities in connection with such Piggy-Back Registration as provided in Section 3.3.

     2.3 Registrations on Form S-3. The holders of Registrable Securities that are Pegasus Parties
may at any time and from time to time, request in writing that the Company register (a “Form S-3
Registration”) the resale of any or all of such Registrable Securities on Form S-3 or any similar
short-form registration which may be available at such time (“Form S-3”); provided, however, that
the Company shall not be obligated to effect such request through an underwritten offering. Upon
receipt of such written request, the Company will promptly give written notice of the proposed
registration to all other holders of Registrable Securities that are Pegasus Parties, and, as soon
as practicable thereafter, subject to the provisions on Section 2.2, effect the registration of all
or such portion of such holder’s or holders’ Registrable Securities as are specified in such
request, together with all or such portion of the Registrable Securities or other securities of the
Company, if any, of any other holder or holders that are Pegasus Parties joining in such request as
are specified in a written request given within fifteen (15) days after receipt of such written
notice from the Company; provided, however, that the Company shall not be obligated to effect any
such registration pursuant to this Section 2.3 (i) if Form S-3 is not available for such offering
or (ii) if the holders of the Registrable Securities, together with the holders of any other
securities of the Company entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at any aggregate price to the public of less than
$500,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand
Registrations effected pursuant to Section 2.1.

3. REGISTRATION PROCEDURES.

     3.1 Filings; Information. Whenever the Company is required to effect the registration of any
Registrable Securities pursuant to Section 2, the Company shall use its reasonable best efforts to
effect the registration and sale of such Registrable Securities in accordance with the intended
method(s) of distribution thereof as expeditiously as practicable, and in connection with any such
request:

          3.1.1 Filing Registration Statement. The Company shall, as expeditiously as possible and in
any event within sixty (60) days after receipt of a request for a Demand Registration pursuant to
Section 2.1, prepare and file with the Commission a Registration Statement on any form for which
the Company then qualifies or which counsel for the Company shall deem appropriate and which form
shall be available for the sale of all Registrable Securities to be registered thereunder in
accordance with the intended method(s) of distribution thereof, and shall use its reasonable best
efforts to cause such Registration Statement to become and remain effective for the period required
by Section 3.1.3; provided, however, that the Company shall have the right to defer any Demand
Registration for up to thirty (30) days, and any Piggy-Back Registration for such period as may be
applicable to deferment of any demand registration to which such Piggy-Back Registration relates,
in each case if the Company shall furnish to the holders a certificate signed by the Chief
Executive Officer or Chairman of the Board of the Company stating that, in the good faith judgment
of the Board of Directors of the Company, it would be materially detrimental to the Company and its
stockholders for such Registration Statement to be effected at such time; provided further,
however, that the Company shall not have the right to exercise the right set forth in the
immediately preceding proviso more than once in any 365-day period in respect of a Demand
Registration hereunder.

          3.1.2 Copies. The Company shall, prior to filing a Registration Statement or prospectus, or
any amendment or supplement thereto, furnish without charge to the holders of Registrable
Securities included in such registration, and such holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to

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such Registration Statement (in each case including all exhibits thereto and documents incorporated
by reference therein), the prospectus included in such Registration Statement (including each
preliminary prospectus), and such other documents as the holders of Registrable Securities included
in such registration or legal counsel for any such holders may request in order to facilitate the
disposition of the Registrable Securities owned by such holders.

          3.1.3 Amendments and Supplements. The Company shall prepare and file with the Commission such
amendments, including post-effective amendments, and supplements to such Registration Statement and
the prospectus used in connection therewith as may be necessary to keep such Registration Statement
effective and in compliance with the provisions of the Securities Act until all Registrable
Securities and other securities covered by such Registration Statement have been disposed of in
accordance with the intended method(s) of distribution set forth in such Registration Statement or
such securities have been withdrawn.

          3.1.4 Notification. After the filing of a Registration Statement, the Company shall promptly,
and in no event more than two (2) business days after such filing, notify the holders of
Registrable Securities included in such Registration Statement of such filing, and shall further
notify such holders promptly and confirm such advice in writing in all events within two (2)
business days of the occurrence of any of the following: (i) when such Registration Statement
becomes effective; (ii) when any post- effective amendment to such Registration Statement becomes
effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if
entered); and (iv) any request by the Commission for any amendment or supplement to such
Registration Statement or any prospectus relating thereto or for additional information or of the
occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so
that, as thereafter delivered to the purchasers of the securities covered by such Registration
Statement, such prospectus will not contain an untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not
misleading, and promptly make available to the holders of Registrable Securities included in such
Registration Statement any such supplement or amendment; except that before filing with the
Commission a Registration Statement or prospectus or any amendment or supplement thereto, including
documents incorporated by reference, the Company shall furnish to the holders of Registrable
Securities included in such Registration Statement and to the legal counsel for any such holders,
copies of all such documents proposed to be filed sufficiently in advance of filing to provide such
holders and legal counsel with a reasonable opportunity to review such documents and comment
thereon, and the Company shall not file any Registration Statement or prospectus or amendment or
supplement thereto, including documents incorporated by reference, to which such holders or their
legal counsel shall object.

          3.1.5 State Securities Laws Compliance. The Company shall use its reasonable best efforts to
(i) register or qualify the Registrable Securities covered by the Registration Statement under such
securities or “blue sky” laws of such jurisdictions in the United States as the holders of
Registrable Securities included in such Registration Statement (in light of their intended plan of
distribution) may request and (ii) take such action necessary to cause such Registrable Securities
covered by the Registration Statement to be registered with or approved by such other governmental
authorities as may be necessary by virtue of the business and operations of the Company and do any
and all other acts and things that may be necessary or advisable to enable the holders of
Registrable Securities included in such Registration Statement to consummate the disposition of
such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be
required to qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.

          3.1.6 Agreements for Disposition. The Company shall enter into customary agreements
(including, if applicable, an underwriting agreement in customary form) and take such other actions
as are reasonably required in order to expedite or facilitate the disposition of such Registrable
Securities. The representations, warranties and covenants of the Company in any underwriting
agreement which are made to or for the benefit of any Underwriters, to the extent applicable, shall
also be made to and for the benefit of the holders of Registrable Securities included in such
registration statement. No holder of Registrable Securities included in such registration statement
shall be required to make any representations or warranties in the underwriting agreement except,
if applicable, with respect to such holder’s organization, good standing, authority, title to
Registrable Securities, lack of conflict of such sale with such holder’s material agreements and
organizational documents, and with respect to written information relating to such holder that such
holder has furnished in writing expressly for inclusion in such Registration Statement. Holders of
Registrable Securities shall agree to such covenants and indemnification and contribution
obligations for selling stockholders as are customarily contained in agreements of that type.
Further, such holders shall cooperate fully in the preparation of the Registration Statement and
other documents relating to any offering in which they include securities pursuant to Section 2
hereof. Each holder shall also furnish to the Company such information regarding itself, the
Registrable Securities held by such holder, as applicable, and the intended method of disposition
of such securities as shall be reasonably required to effect the registration of the Registrable
Securities.

          3.1.7 Cooperation. The principal executive officer of the Company and all other officers and
members of the management of the Company shall cooperate fully in any offering of Registrable
Securities hereunder, which cooperation shall include, without limitation, the preparation of the
Registration Statement with respect to such offering and all other offering materials and related
documents, and participation in meetings with Underwriters, attorneys, accountants and

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potential investors.

          3.1.8 Records. The Company shall make available for inspection by the holders of Registrable
Securities included in such Registration Statement, any Underwriter participating in any
disposition pursuant to such registration statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such Registration
Statement or any Underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, as shall be necessary to enable them to exercise their due diligence
responsibility, and cause the Company’s officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.

          3.1.9 Opinions and Comfort Letters. The Company shall furnish to each holder of Registrable
Securities included in any Registration Statement a signed counterpart, addressed to such holder,
of (i) any opinion of counsel to the Company delivered to any Underwriter and (ii) any comfort
letter from the Company’s independent public accountants delivered to any Underwriter. In the event
no legal opinion is delivered to any Underwriter, the Company shall furnish to each holder of
Registrable Securities included in such Registration Statement, at any time that such holder elects
to use a prospectus, an opinion of counsel to the Company to the effect that the Registration
Statement containing such prospectus has been declared effective and that no stop order is in
effect.

          3.1.10 Earnings Statement. The Company shall comply with all applicable rules and regulations
of the Commission and the Securities Act, and make available to its stockholders, as soon as
practicable, an earnings statement covering a period of twelve (12) months, beginning within three
(3) months after the effective date of the registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

          3.1.11 Listing. The Company shall use its reasonable best efforts to cause all Registrable
Securities included in any registration to be listed on such exchanges or otherwise designated for
trading in the same manner as similar securities issued by the Company are then listed or
designated or, if no such similar securities are then listed or designated, in a manner
satisfactory to the holders of a Majority-in-Interest of the Registrable Securities included in
such registration.

     3.2 Obligation to Suspend Distribution. Upon receipt of any notice from the Company of the
happening of any event of the kind described in Section 3.1.4(iv), or, in the case of a resale
registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company,
pursuant to a written insider trading compliance program adopted by the Company’s Board of
Directors, of the ability of all “insiders” covered by such program to transact in the Company’s
securities because of the existence of material non-public information, each holder of Registrable
Securities included in any registration shall immediately discontinue disposition of such
Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such holder receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv)
or the restriction on the ability of “insiders” to transact in the Company’s securities is removed,
as applicable, and, if so directed by the Company, each such holder will deliver to the Company all
copies, other than permanent file copies then in such holder’s possession, of the most recent
prospectus covering such Registrable Securities at the time of receipt of such notice.

     3.3 Registration Expenses. The Company shall bear all costs and expenses incurred in
connection with any Demand Registration pursuant to Section 2.1, any Piggy-Back Registration
pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section 2.3, and all
expenses incurred in performing or complying with its other obligations under this Agreement,
whether or not the Registration Statement becomes effective, including, without limitation: (i) all
registration and filing fees; (ii) fees and expenses of compliance with securities or “blue sky”
laws (including fees and disbursements of counsel in connection with blue sky qualifications of the
Registrable Securities); (iii) printing expenses; (iv) the Company’s internal expenses (including,
without limitation, all salaries and expenses of its officers and employees); (v) the fees and
expenses incurred in connection with the listing of the Registrable Securities as required by
Section 3.1.11; (vi) Financial Industry Regulatory Authority, Inc. fees; (vii) fees and
disbursements of counsel for the Company and fees and expenses for independent certified public
accountants retained by the Company (including the expenses or costs associated with the delivery
of any opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and
expenses of any special experts retained by the Company in connection with such registration and
(ix) the fees and expenses of one legal counsel selected by the holders of a Majority-in-Interest
of the Registrable Securities included in such registration. The Company shall have no obligation
to pay any underwriting discounts or selling commissions attributable to the Registrable Securities
being sold by the holders thereof, which underwriting discounts or selling commissions shall be
borne by such holders. Additionally, in an underwritten offering, all selling stockholders and the
Company shall bear the expenses of the Underwriter pro rata in proportion to the respective amount
of shares each is selling in such offering.

     3.4 Information. The holders of Registrable Securities shall provide such information as may
reasonably be requested by the Company, or the managing Underwriter, if any, in connection with the
preparation of any Registration Statement, including amendments and supplements thereto, in order
to effect the registration of any Registrable Securities under the Securities Act pursuant to
Section 2 and in connection with the Company’s obligation to comply with federal and applicable
state securities laws.

4. INDEMNIFICATION AND CONTRIBUTION.

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     4.1 Indemnification by the Company. The Company agrees to indemnify and hold harmless the
Investor and each other holder of Registrable Securities, and each of their respective officers,
employees, affiliates, directors, partners, members, attorneys and agents, and each Person, if any,
who controls the Investor or any other holder of Registrable Securities (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified
Party”), from and against any expenses, losses, judgments, claims, damages or liabilities, whether
joint or several, arising out of or based upon any untrue statement (or allegedly untrue statement)
of a material fact contained in any Registration Statement under which the sale of such Registrable
Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained in the Registration Statement, or any amendment or supplement to such
Registration Statement, or arising out of or based upon any omission (or alleged omission) to state
a material fact required to be stated therein or necessary to make the statements therein not
misleading, or any violation by the Company of the Securities Act or any rule or regulation
promulgated thereunder applicable to the Company and relating to action or inaction required of the
Company in connection with any such registration; and the Company shall promptly reimburse the
Investor Indemnified Party for any legal and any other expenses reasonably incurred by such
Investor Indemnified Party in connection with investigating and defending any such expense, loss,
judgment, claim, damage, liability or action; provided, however, that the Company will not be
liable in any such case to the extent that any such expense, loss, claim, damage or liability
arises out of or is based upon any untrue statement or allegedly untrue statement or omission or
alleged omission made in such Registration Statement, preliminary prospectus, final prospectus, or
summary prospectus, or any such amendment or supplement, in reliance upon and in conformity with
information furnished to the Company, in writing, by the selling holder with which such Investor
Indemnified Party is affiliated expressly for use therein. The Company also shall indemnify any
Underwriter of the Registrable Securities, their officers, affiliates, directors, partners, members
and agents and each Person who controls such Underwriter on substantially the same basis as that of
the indemnification provided above in this Section 4.1.

     4.2 Indemnification by Holders of Registrable Securities. Each selling holder of Registrable
Securities will, in the event that any registration is being effected under the Securities Act
pursuant to this Agreement of any Registrable Securities held by such selling holder, indemnify and
hold harmless the Company, each of its directors and officers and each underwriter (if any), and
each other selling holder and each other Person, if any, who controls another selling holder or
such underwriter within the meaning of the Securities Act, against any losses, claims, judgments,
damages or liabilities, whether joint or several, insofar as such losses, claims, judgments,
damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue
statement or allegedly untrue statement of a material fact contained in any Registration Statement
under which the sale of such Registrable Securities was registered under the Securities Act, any
preliminary prospectus, final prospectus or summary prospectus contained in the Registration
Statement, or any amendment or supplement to the Registration Statement, or arise out of or are
based upon any omission or the alleged omission to state a material fact required to be stated
therein or necessary to make the statement therein not misleading, if the statement or omission was
made in reliance upon and in conformity with information furnished in writing to the Company by
such selling holder expressly for use therein, and shall reimburse the Company, its directors and
officers, and each other selling holder or controlling Person for any legal or other expenses
reasonably incurred by any of them in connection with investigation or defending any such loss,
claim, damage, liability or action. Each selling holder’s indemnification obligations hereunder
shall be several and not joint and shall be limited to the amount of any net proceeds actually
received by such selling holder from the sale of Registrable Securities which gave rise to such
indemnification obligation.

     4.3 Conduct of Indemnification Proceedings. Promptly after receipt by any Person of any notice
of any loss, claim, damage or liability or any action in respect of which indemnity may be sought
pursuant to Section 4.1 or 4.2, such Person (the “Indemnified Party”) shall, if a claim in respect
thereof is to be made against any other Person for indemnification hereunder, notify such other
Person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or
action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying
Party shall not relieve the Indemnifying Party from any liability which the Indemnifying Party may
have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is
actually and materially prejudiced by such failure. If the Indemnified Party is seeking
indemnification with respect to any claim or action brought against the Indemnified Party, then the
Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent
that it wishes, jointly with all other Indemnifying Parties, to assume control of the defense
thereof with counsel reasonably satisfactory to the Indemnified Party. After notice from the
Indemnifying Party to the Indemnified Party of its election to assume control of the defense of
such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any
legal or other expenses subsequently incurred by the Indemnified Party in connection with the
defense thereof other than reasonable costs of investigation; provided, however, that in any action
in which both the Indemnified Party and the Indemnifying Party are named as defendants, the
Indemnified Party shall have the right to employ separate counsel (but no more than one such
separate counsel) to represent the Indemnified Party and its controlling Persons who may be subject
to liability arising out of any claim in respect of which indemnity may be sought by the
Indemnified Party against the Indemnifying Party, with the fees and expenses of such counsel to be
paid by such Indemnifying Party if, based upon the written opinion of counsel of such Indemnified
Party, representation of both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, consent to entry of judgment or effect any settlement of any
claim or pending or threatened proceeding in respect of which the Indemnified Party is or could
have been

7

 

a party and indemnity could have been sought hereunder by such Indemnified Party, unless such
judgment or settlement includes an unconditional release of such Indemnified Party from all
liability arising out of such claim or proceeding.

4.4 Contribution.

          4.4.1 If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
unavailable to any Indemnified Party in respect of any loss, claim, damage, liability or action
referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
loss, claim, damage, liability or action in such proportion as is appropriate to reflect the
relative fault of the Indemnified Parties and the Indemnifying Parties in connection with the
actions or omissions which resulted in such loss, claim, damage, liability or action, as well as
any other relevant equitable considerations. The relative fault of any Indemnified Party and any
Indemnifying Party shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

          4.4.2 The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 4.4 were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to in the
immediately preceding Section 4.4.1.

          4.4.3 The amount paid or payable by an Indemnified Party as a result of any loss, claim,
damage, liability or action referred to in the immediately preceding paragraph shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 4.4, no holder of Registrable Securities shall be
required to contribute any amount in excess of the dollar amount of the net proceeds (after payment
of any underwriting fees, discounts, commissions or taxes) actually received by such holder from
the sale of Registrable Securities which gave rise to such contribution obligation. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.

5. UNDERWRITING AND DISTRIBUTION.

     5.1 Rule 144. The Company covenants that it shall (a) file any reports required to be filed by
it under the Securities Act and the Exchange Act in order to maintain its status as a “reporting
issuer” under Rule 144(c)(1) under the Securities Act and (b) use commercially reasonable efforts
to obtain eligibility to use Form S-3, and shall take such further action as the holders of
Registrable Securities may reasonably request, all to the extent required from time to time to
enable such holders to sell Registrable Securities without registration under the Securities Act
within the limitation of the exemptions provided by Rule 144 under the Securities Act, as such
Rules may be amended from time to time, or any similar Rule or regulation hereafter adopted by the
Commission.

6. MISCELLANEOUS.

     6.1 Other Registration Rights. Except with respect to (i) the investors purchasing Common
Stock pursuant to that certain Securities Purchase Agreement, dated as of March 9, 2007, between
the Company and the investors party thereto (ii) the Guarantors, (iii) the investors purchasing
Common Stock and Preferred Stock pursuant to that certain Exchange and Contribution Agreement,
dated as of October 4, 2007, between the Company and LED Holdings, LLC and (iv) the sellers
receiving Common Stock pursuant to that certain Share Purchase Agreement, dated as of April 22,
2008, between the Company and the sellers party thereto, the Company represents and warrants to
each party hereto that no Person, other than a holder of the Registrable Securities, has any right
to require the Company to register any shares of the Company’s capital stock for sale or to include
shares of the Company’s capital stock in any registration filed by the Company for the sale of
shares of capital stock for its own account or for the account of any other Person. Each Pegasus
Party hereby agrees that it shall not cause the Company to file with the Commission a Registration
Statement covering the resale of the Registrable Securities for an offering to be made on a
continuous basis pursuant to Rule 415 under the Securities Act at any time prior to the date that
is six (6) months from the date of this Agreement.

     6.2 Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties and
obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in
part. This Agreement and the rights, duties and obligations of the holders of Registrable
Securities hereunder may be freely assigned by such holder of Registrable Securities in conjunction
with and to the extent of any transfer by any holder of at least 1% of the Registrable Securities
outstanding at the time of such transfer to any party who signs a joinder agreement to this
Agreement in a form reasonably satisfactory to the Company. This Agreement and the provisions
hereof shall be binding upon and shall inure to the benefit of each of the parties hereto and their
respective successors and the permitted assigns of the Investor or holder of Registrable Securities
or of any assignee of the Investor or holder of Registrable Securities. This Agreement is not
intended to confer any rights or benefits on any Persons that are not party hereto other than as
expressly set forth in Article 4 and this Section 6.2.

8

 

     6.3 Notices. All notices, requests, demands, claims and other communications that are required
or may be given pursuant to this Agreement must be in writing and delivered personally against
written receipt, by facsimile or by reputable domestic or international overnight courier to the
parties at the following addresses (or to the attention of such other Person or at such other
address as any party may provide to the other party by notice in accordance with this Section
8.04):

If to any Pegasus Party:

Pegasus Partners IV, L.P.

505 Park Avenue, 22nd Floor

New York, NY 10022

Attention: Richard Weinberg; Steven Wacaster

Telephone: (212) 710-2500

Facsimile: (212) 355-2303

with a copy to (which shall not constitute notice):

Pegasus Capital Advisors, L.P.

505 Park Avenue, 22nd Floor

New York, NY 10022

Attention: Richard Weinberg; Steven Wacaster

Telephone: (212) 710-2500

Facsimile: (212) 355-2303

and with a copy (which shall not constitute notice) to:

Akin Gump Strauss Hauer & Feld LLP

590 Madison Avenue

New York, NY 10022

Attention: Bruce S. Mendelsohn, Esq.

Telephone: (212) 872-1000

Facsimile: (212) 872-1002

If to the Company:

Lighting Science Group Corporation

2100 McKinney Avenue

Dallas, TX 75201

Attention: Chief Executive Officer

Telephone: (214) 382-3630

Facsimile: (214) 722-1391

with a copy (which shall not constitute notice) to:

Haynes and Boone LLP

901 Main Street

Suite 3100

Dallas, TX 75202

Attention: Gregory Samuel, Esq.

Telephone: (214) 651-5645

Facsimile: (214) 200-0577

Any such notice, request, demand, claim or other communication will be deemed to have been given
(a) if personally delivered, when so delivered, (b) if sent by facsimile, upon transmission with
electronic confirmation thereof or (c) if sent by reputable domestic or international overnight
courier, when received.

     6.4 Severability. This Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part
of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may
be possible that is valid and enforceable.

     6.5 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall
be deemed an original, and all of which taken together shall constitute one and the same
instrument.

     6.6 Entire Agreement. This Agreement (including all agreements entered into pursuant hereto
and all certificates and instruments delivered pursuant hereto and thereto) constitute the entire
agreement of the parties with respect to the subject matter hereof and supersede all prior and
contemporaneous agreements, representations, understandings, negotiations and discussions between
the parties, whether oral or written.

9

 

     6.7 Modifications and Amendments. No amendment, modification or termination of this Agreement
shall be binding upon any party unless executed in writing by such party.

     6.8 Titles and Headings. Titles and headings of Sections of this Agreement are for convenience
only and shall not affect the construction of any provision of this Agreement.

     6.9 Waivers and Extensions. Any party to this Agreement may waive any right, breach or default
which such party has the right to waive, provided that such waiver will not be effective against
the waiving party unless it is in writing, is signed by such party, and specifically refers to this
Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or
default waived has occurred. Any waiver may be conditional. No waiver of any breach of any
agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding
breach thereof nor of any other agreement or provision herein contained. No waiver or extension of
time for performance of any obligations or acts shall be deemed a waiver or extension of the time
for performance of any other obligations or acts.

     6.10 Remedies Cumulative. In the event that the Company fails to observe or perform any
covenant or agreement to be observed or performed under this Agreement, the Investor or any other
holder of Registrable Securities may proceed to protect and enforce its rights by suit in equity or
action at law, whether for specific performance of any term contained in this Agreement or for an
injunction against the breach of any such term or in aid of the exercise of any power granted in
this Agreement or to enforce any other legal or equitable right, or to take any one or more of such
actions, without being required to post a bond. None of the rights, powers or remedies conferred
under this Agreement shall be mutually exclusive, and each such right, power or remedy shall be
cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement
or now or hereafter available at law, in equity, by statute or otherwise.

     6.11 Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. Each of the parties
hereby agrees that any action, proceeding or claim against it arising out of or relating in any way
to this Agreement shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. Each of the parties hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

     6.12 Waiver of Trial by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE
RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON
CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE INVESTOR IN THE NEGOTIATION,
ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed
and delivered by their duly authorized representatives as of the date first written above.

	 	 	 	 	 	 	 
	 	 	LIGHTING SCIENCE GROUP CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Stephen Hamilton	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PEGASUS PARTNERS IV, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Richard Weinberg	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Richard Weinberg	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

[Registration Rights Agreement]

Signature Page to Registration Rights Agreement

11

 

Schedule A

Guarantors

12exv4w2

Exhibit 4.2

EXECUTION COPY

WARRANT

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN ACQUIRED FOR
INVESTMENT AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL, REASONABLY SATISFACTORY
TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR APPLICABLE STATE
SECURITIES LAWS UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

LIGHTING SCIENCE GROUP CORPORATION

Warrant To Purchase Common Stock

			
	 	 	 
	Warrant No.: ___
	 	Number of Shares: 942,857
	Issuance Date:                     , 2008	 	 

THIS CERTIFIES THAT, for value received, Pegasus Partners IV, L.P. or its transferees, successors,
affiliates and assigns (the “Holder”) is entitled to purchase from Lighting Science Group
Corporation, a Delaware corporation (the “Company”), at any time after the Issuance Date (defined
below) and before the Expiration Date (defined below) at $7.00 per share (the “Exercise Price”)
nine hundred forty two thousand eight hundred fifty seven (942,857) fully paid nonassessable shares
of Common Stock (defined below) (the “Warrant Shares”), all subject to adjustment and upon the
terms and conditions provided herein.

     Section 1. Definitions.

          The following terms as used in this Warrant have the following meanings:

          (a) “Business Day” means any day other than Saturday, Sunday or federal holiday.

          (b) “Common Stock” means (i) the Company’s common stock, $.001 par value per share, and (ii)
any capital stock into which the Common Stock is changed or any capital stock resulting from a
reclassification of the Common Stock.

          (c) “Exercise Price” is equal to $7.00, subject to adjustment as detailed in Section 2(c) of
this Warrant.

          (d) “Expiration Date” means the fifth anniversary of the Issuance Date or, if such date falls
on a day that is not a Business Day or a day on which trading does not take place

1

 

on the principal exchange or automated quotation system on which the Common Stock is traded,
the next Business Day.

          (e) “Issuance Date” means July 25, 2008.

          (f) “Person” means a natural person or entity, or a government or any division, department or
agency thereof.

          (g) “Securities Act” means the Securities Act of 1933, as amended.

          (h) “Warrant” means this Warrant and all Warrants issued in exchange, transfer or replacement
thereof.

          (i) “Warrant Shares” has the meaning attributed to it in the preamble of this Warrant.

     Section 2. Exercise of Warrant.

          (a) This Warrant may be exercised by the Holder registered on the books of the Company, in
whole or in part, at any time on any Business Day after the Issuance Date and prior to 11:59 p.m.
Eastern Time on the Expiration Date by: (i) delivery of a written notice, in the form attached as
Exhibit A (the “Exercise Notice”), of Holder’s election to exercise this Warrant,
specifying the number of Warrant Shares to be purchased, (ii) payment to the Company of an amount
equal to the Exercise Price multiplied by the number of Warrant Shares being purchased (a) in cash
or wire transfer of immediately available funds or (b) by means of a cashless exercise pursuant to
Section 2(c) (such cash, wire transfer or cashless exercise referred to herein as the “Payment”)
and (iii) the surrender to a nationally recognized courier for overnight delivery to the Company,
as soon as practicable following such date, of this Warrant, (or an indemnification undertaking
with respect to this Warrant in the case of its loss, theft or destruction in such form and
substance as reasonably satisfactory to the Company).

     The Company shall, not later than the fifth Business Day (the “Delivery Date”) following
receipt of an Exercise Notice, the Payment and this Warrant or such indemnification (collectively,
the “Exercise Documents”), arrange for its transfer agent, on or before the Delivery Date, to issue
and surrender to a nationally recognized courier for overnight delivery to the address specified in
the Exercise Notice, a certificate, registered in the name of the Holder, for the number of shares
of Common Stock to which the Holder is entitled. Upon delivery of the Exercise Notice and the
Payment, the Holder shall be deemed for all corporate purposes to have become the holder of record
of the Warrant Shares with respect to which this Warrant has been exercised on the Delivery Date,
irrespective of the date of delivery of the certificates evidencing the Warrant Shares.

          (b) Unless the rights represented by this Warrant have expired or been fully exercised, the
Company shall, as soon as practicable and in no event later than five Business Days after receipt
of the Exercise Documents and at its own expense, issue a new Warrant identical in all respects to
this Warrant, except it shall represent rights to purchase the number of Warrant Shares purchasable
immediately prior to exercise, less the number purchased.

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          (c) In lieu of exercising this Warrant by means of paying via cash or wire transfer, the
Holder may elect to make the Payment by means of receiving shares equal to the value of this
Warrant (or portion thereof being exercised) by surrender of this Warrant at the principal office
of the Company together with the Notice of Exercise attached hereto as Exhibit A, duly completed to
indicate a net issuance exercise and executed by the Holder, in which event the Company shall issue
to the Holder a number of shares of Common Stock of the Company computed using the following
formula:

     X = Y(A-B)/A

     where X = the number of shares issued to the Holder;

Y = the number of shares purchasable (or portion thereof) under
this Warrant that are being exercised at the date of the calculation;

A = the current market price of the common stock of the Company
at the date of the calculation; and

B = the Exercise Price on the date of the calculation

          (d) No fractional shares of Common Stock are to be issued upon the exercise of this Warrant,
but rather the number of shares of Common Stock issued shall be rounded up or down to the nearest
whole number.

     Section 3. Covenants as to Common Stock. The Company hereby covenants and agrees as
follows:

          (a) This Warrant is, and any Warrants issued in substitution for or in replacement of this
Warrant upon issuance will be, duly authorized, executed and delivered.

          (b) All Warrant Shares upon issuance will be validly issued, fully paid and nonassessable and
free from all liens and charges with respect to the issue thereof.

          (c) As long as this Warrant may be exercised, the Company will have authorized and reserved at
least the number of shares of Common Stock needed to provide for the exercise of the rights then
represented by this Warrant.

     Section 4. Warrant Holder Not Deemed a Shareholder. Except as specifically provided
in Section 2(a), nothing contained in this Warrant shall be construed to (a) grant the Holder any
rights to vote or receive dividends or be deemed the holder of shares of the Company for any
purpose, (b) confer upon the Holder any of the rights of a shareholder of the Company or any right
to vote, give or withhold consent to any corporate action (whether any reorganization, issue of
stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice
of meetings, receive dividends or subscription rights, or otherwise, or (c) impose any liabilities
on the Holder to purchase any securities or as a shareholder of the Company, whether asserted by
the Company or creditors of the Company, prior to the issuance of the Warrant Shares.

3

 

     Section 5. Representations of Holder. The Holder, by the acceptance hereof,
represents that it is acquiring this Warrant and the Warrant Shares for its own account for
investment only and not with a view towards, or for resale in connection with, the public sale or
distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted
under the Securities Act. The Holder further represents, by acceptance hereof, that, as of this
date, Holder is an “accredited investor” as defined in Rule 501(a)(1) of Regulation D promulgated
under the Securities Act (an “Accredited Investor"). Upon exercise of this Warrant, the Holder
shall, if requested by the Company, confirm in writing, in a form satisfactory to the Company, that
the Warrant Shares are being acquired solely for the Holder’s own account and not as a nominee for
any other party, for investment, and not with a view toward distribution or resale and that Holder
is an Accredited Investor. If Holder cannot make such representations because they would be
factually incorrect, it shall be a condition to Holder’s exercise of this Warrant that the Company
receive such other representations as the Company considers reasonably necessary to assure the
Company that the issuance of its securities upon exercise of this Warrant shall not violate any
federal or state securities laws. The Company shall not be penalized or disadvantaged by a
Holder’s inability to exercise this Warrant due to its inability to make the required
representations in connection with the exercise of this Warrant.

     Section 6. Ownership and Transfer.

          (a) The Company shall maintain at its principal executive offices (or such other office or
agency of the Company as it may designate by notice to the holder hereof), a register for this
Warrant, in which the Company shall record the name and address of the Person in whose name this
Warrant has been issued, as well as the name and address of each transferee who has acquired this
Warrant in accordance with applicable law and the terms of this Warrant. The Company may treat the
Person in whose name this Warrant is registered on the register as the owner and holder thereof for
all purposes, notwithstanding any notice to the contrary, but in all events recognizing any
transfers made in accordance with the terms of this Warrant.

          (b) This Warrant may only be offered, sold, transferred or assigned in compliance with the
Securities Act and applicable state securities laws.

          (c) Subject to the terms of this Section 6, upon surrender of this Warrant to the Company at
its principal office or at the office of its transfer agent, if any, with the Assignment Form
annexed hereto as Exhibit B duly executed and funds sufficient to pay any transfer tax, the
Company shall, without charge, execute and deliver a new Warrant in the name of the assignee
evidencing the portion of the Warrant certificate so transferred shall be issued to the transferee
and a new Warrant certificate evidencing the remaining portion of the Warrant certificate not so
transferred, if any, shall be issued to the transferring Holder. The delivery of the new Warrant
certificate by the Company to the transferee thereof shall be deemed to constitute acceptance by
such transferee of all of the rights and obligations of a holder of a Warrant certificate. Subject
to the terms of this Section 6, this Warrant may be divided or combined with other warrants which
carry the same rights upon presentation hereof at the principal office of the Company together with
a written notice specifying the names and denominations in which new Warrants are to be issued and
signed by the Warrant Holder hereof.

4

 

     Section 7. Adjustment of Exercise Price and Number of Shares. The Exercise Price and
the number of Warrant Shares shall be adjusted from time to time as follows:

          (a) Stock Splits. If the Company subdivides (by any stock split, recapitalization or
otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise
Price in effect immediately prior to the subdivision will be proportionately reduced and the number
of Warrant Shares will be proportionately increased. If the Company combines (by combination,
reverse stock split or otherwise) its outstanding shares of Common Stock into a smaller number of
shares, the Exercise Price in effect immediately prior to the combination will be proportionately
increased and the number of Warrant Shares will be proportionately decreased. Any adjustment under
this Section shall become effective at the close of business on the date the subdivision or
combination becomes effective.

          (b) Stock Dividends. If the Company declares a dividend or any other distribution
upon the Common Stock that is payable in shares of Common Stock or securities convertible into
shares of Common Stock, the number of Warrant Shares will be proportionately increased and the
Exercise Price in effect immediately prior to the declaration of the dividend or distribution will
be reduced to the quotient obtained by dividing (i) the number of shares of Common Stock
outstanding immediately prior to the declaration multiplied by the then effective Exercise Price by
(ii) the total number of shares of Common Stock outstanding immediately after the declaration.

          (c) Adjustment for Property Dividends. If the Company declares a dividend or any
other distribution upon the Common Stock that is payable in any of its assets (including cash) or
debt securities or any rights, options or warrants to purchase debt securities, assets or other
securities of the Company (other than Common Stock and other than any dividend or distribution upon
a merger or consolidation or sale to which Section 8 applies) (a “Property Dividend”), then and in
each such event the Exercise Price for this Warrant in effect immediately prior to the close of
business on the date for the determination of the holders of Common Stock entitled to receive such
dividend or distribution shall be decreased by the fair market value (as determined in good faith
by the Board of Directors of the Company, whose determination shall be conclusive and evidenced by
a Board Resolution filed with the Warrant Agent) of such Property Dividend so distributed for each
share of Common Stock. 

     Any adjustment under this Section 7(c) shall, become effective immediately prior to the
opening of business on the day after the date for the determination of the holders of Common Stock
entitled to receive Property Dividend. If the Board of Directors determines the fair market value
of any Property Dividend for purposes of this Section 7(c) by reference to the actual or when
issued trading market for any securities comprising such Property Dividend, it must in doing so
consider the prices in such market over the same period used in computing the Current Market Price
per share of Common Stock.

     For purposes of clarity, if a declared Property Dividend would have reduced the Exercise Price
to an amount below $0, the Exercise Price will be reduced to $0 and any remaining fair market value
that would have resulted in a reduction of the Exercise Price below $0 shall be reflected in an
increase of the number of shares issuable upon exercise of this Warrant pursuant to Section 7(d)
hereto.

5

 

     “Current Market Price” means on any date:

          (i) if the reference is to the per share price of Common Stock on any date herein
specified and if on such date the Common Stock is listed or admitted to trading on any
national securities exchange or otherwise traded in the over-the-counter market in the
United States for the purpose of any computation under this Warrant, the average of the
Quoted Prices for the five consecutive Trading Days selected by the Company commencing not
more than 20 Trading Days before, and ending not later than, the earlier of (x) the date in
question and (y) in the case of any computation under Section 7(c), the day before the “ex”
date for the issuance or distribution requiring such computation; provided, however, that if
the “ex” date for any event (other than the issuance or distribution requiring such
computation) that requires an adjustment to the Exercise Price pursuant this Section 7(c)
occurs on or after the 20th Trading Day prior to the day in question and prior to the “ex”
date for the issuance or distribution requiring such computation, the Quoted Price for each
Trading Day prior to the “ex” date for such other event shall be adjusted by multiplying
such Quoted Price by the same fraction by which the Exercise Price is so required (or would
have been required) to be adjusted pursuant to this Section 7(c), as a result of such other
event.

          (ii) if the reference is to the per share price of Common Stock on any date herein
specified and if on such date the Common Stock is not listed or admitted to trading on any
national securities exchange or otherwise traded in the over-the-counter market in the
United States, the amount which a willing buyer would pay a willing seller in an arm’s
length transaction on such date (neither being under any compulsion to buy or sell) for one
share of the Common Stock as determined as of such date (x) for the purposes of any
computation under this Agreement (except under Section 7(c)), by an Independent Financial
Expert as set forth in value report thereof using one or more valuation methods that such
Independent Financial Expert, in its best professional judgment, determines to be most
appropriate or (y) for the purposes of any computation under Section 7(c), by the Treasurer
or Chief Financial Officer of the Company in good faith, whose determination shall be
conclusive and evidenced by a certificate of such officer delivered to the Warrant Agent.

“ex date” means the first date on which the Common Stock trades regular way on the relevant
exchange or in the relevant market from which the Quoted Price was obtained without the
right to receive such issuance or distribution.

“Independent Financial Expert” means any broker or dealer registered as such under the
Exchange Act that conducts an investment banking business of nationally recognized standing
selected by the Company that either (i) is reasonably acceptable to the Holder of this
Warrant or (ii) is a firm (x) which does not (and whose directors, officers, employees and
affiliates, to the knowledge of the Company, do not) have a material direct or indirect
financial interest in the Company (other than by virtue of compensation paid for advice or
opinions referred to in the exception to clause (z)), as determined by the Board of
Directors of the Company in its reasonable good faith judgment, (y) which has not been,
within the last two years, and, at the time it is called upon to give independent financial
advice to the Company, is not (and none of whose directors, officers, employees or

6

 

affiliates, to the knowledge of the Company, is) a promoter, director or officer of the
Company or an underwriter with respect to any of the securities of the Company and (z) which
does not provide any advice or opinions to the Company except as an independent financial
expert in connection with this Agreement.

“Quoted Price” means, on any Trading Day, with respect to any security, the last
reported sales price regular way or, in case no such reported sale takes place on such
Trading Day, the average of the reported closing bid and asked prices regular way, in either
case on the principal national securities exchange on which such security is listed or
admitted to trading or, if not listed or admitted to trading on any national securities
exchange, the average of the closing bid and asked prices in the over-the-counter market in
the United States as furnished by any Financial Industry Regulatory Authority member firm
that shall be selected from time to time by the Company for that purpose.

“Trading Day” means each Monday, Tuesday, Wednesday, Thursday and Friday, other than any day
on which securities are not traded on the applicable securities exchange or in the
applicable securities market.

          (d) Adjustment for Property Dividend In Special Circumstances. In the event that the
Exercise Price is or has been reduced to $0 or a price that rounds to $0 due to adjustments to the
Exercise Price pursuant to Section 7(c) and the Company declares a dividend or any other
distribution upon the Common Stock that is a Property Dividend, this Section 7(d) shall apply and
the number of shares of Common Stock issuable upon exercise of the Warrant shall be adjusted in
accordance with the formula:

	 	 	 	 	 	 	 
	 

	 	N’    =     N  x
	 	     M     
	 	 
	 

	 	 	M - F	 	 

     where:

     N’ = the adjusted number of shares of Common Stock issuable upon exercise of this
Warrant.

     N = the current number of shares of Common Stock issuable upon exercise of this
Warrant.

     M = the Closing Price per share of Common Stock on the Business Day immediately
preceding the ex date for such distribution.

F = the fair market value on the ex date for such distribution of the assets,
securities, rights or warrants distributable to one share of Common Stock after taking
into account, in the case of any rights, options or warrants, the consideration
required to be paid upon exercise thereof. The board of directors of the Company shall
reasonably determine the fair market value in good faith.

          The adjustment shall be made successively whenever any such distribution is made and shall
become effective immediately after the record date for the determination of stockholders entitled
to receive such distribution.

     This subsection (d) does not apply to regular quarterly cash dividends. If any
adjustment is made pursuant to this subsection (d) as a result of the issuance of rights,

7

 

options or warrants and at the end of the period during which any such rights, options
or warrants are exercisable, not all such rights, options or warrants shall have been
exercised, this Warrant shall be immediately readjusted as if “F” in the above formula was
the fair market value on the ex date for such distribution of the indebtedness or assets
actually distributed upon exercise of such rights, options or warrants divided by the number
of shares of Common Stock outstanding on the ex-dividend date for such distribution.
Notwithstanding anything to the contrary contained in this subsection (d), if “M-F” in the
above formula is less than $1.00, the Company may elect to, and if “M-F” or is a negative
number, the Company shall, in lieu of the adjustment otherwise required by this subsection
(d), distribute to the holder of this Warrant, upon exercise thereof, the evidences of
indebtedness, assets, rights, options or warrants (or the proceeds thereof) which would have
been distributed to such holder had this Warrant been exercised immediately prior to the
record date for such distribution.

          As used in this subsection “Closing Price” on any date of determination means (i) the closing
sale price for the regular trading session (without considering after hours or other trading
outside regular trading session hours) of the Common Stock (regular way) as reported in the
composite transactions for the principal United States securities exchange on which the Common
Stock is listed, (ii) if the Common Stock is not so reported, the last quoted bid price for the
Common Stock in the over-the-counter market as reported by the OTC Bulletin Board, the National
Quotation Bureau or similar organization, or (iii) if the Common Stock is not so quoted, the
average of the mid-point of the last bid and ask prices for the Common Stock from at least three
nationally recognized investment banking firms that the Company selects for this purpose.

          (e) Issuance of Common Stock Below Current Fair Market Value. If the Company shall
issue or sell shares of Common Stock, or rights, options, warrants or convertible or exchangeable
securities containing the right to subscribe for or purchase shares of Common Stock issued or sold
to someone other than the Holder, at a price per share (determined, in the case of such rights,
options, warrants or convertible or exchangeable securities, by dividing (A) the total amount
receivable by the Company in consideration (notes or debt shall not be considered consideration) of
the issuance and sale of such rights, options, warrants or convertible or exchangeable securities,
plus the total consideration, if any, payable to the Company upon exercise, conversion or exchange
thereof, by (B) the total number of shares of Common Stock covered by such rights, options,
warrants or convertible or exchangeable securities) that is lower than the then current Fair Market
Value per share of Common Stock in effect immediately prior to such sale or issuance, then the
number of Warrant Shares thereafter issuable upon the exercise of this Warrant shall be determined
by adding the number of Warrant Shares theretofore issuable upon exercise of this Warrant to the
product of (x) the Cheap Stock Issued, multiplied by (y) the Ownership Ratio. Such adjustment shall
be made successively whenever any such sale or issuance is made.

     This Section 7(e) shall not apply to (i) securities issued to employees, officers, directors,
consultants or other service providers of the Company pursuant to a plan or agreement approved by
the board of directors, including the Lighting Science Group Corporation 2005 Equity Based
Compensation Plan, (ii) securities issued to settle the Company’s directors’ fees, (iii) securities
issued pursuant to the exercise or conversion of currently issued warrants, options, restricted
stock, convertible preferred stock or other derivative instruments of the Company, (iv) securities

8

 

issued as a dividend on preferred stock of the Company, and (v) securities issued pursuant to an
acquisition of shares or assets of a target company at a value not less than the fair market value
as determined by an independent investment banking firm.

“Cheap Stock Issued” shall be the number of additional shares of Common Stock issued or
offered by the Company for subscription or purchase as described above minus the number of
 shares of Common Stock that the aggregate offering price of the total number of shares of
Common Stock so offered would purchase at the then current Fair Market Value per share of
Common Stock.

“Ownership Ratio” shall be a fraction, the numerator of which shall be the number of Warrant
Shares prior to such time issuable upon exercise of this Warrant, and the denominator of
which shall be the number of shares of Common Stock then outstanding (on a fully diluted
basis) on the date of issuance or sale of such shares of Common Stock or such rights,
options, warrants or convertible or exchangeable securities. For purposes of such
adjustments, the shares of Common Stock which the holder of any such rights, options,
warrants or convertible or exchangeable securities shall be entitled to subscribe for or
purchase shall be deemed to be issued and outstanding as of the date of the sale and
issuance of the rights, warrants or convertible or exchangeable securities.

“Fair Market Value” shall be equal to a discount of 10% to the average VWAP of the Common
Stock for the thirty days preceding the issuance of such shares of Common Stock, or rights,
options, warrants or convertible or exchangeable securities.

“VWAP” means, for any date, the price determined by the first of the following clauses that
applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily
volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted for trading
as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to
4:02 p.m. (New York City time); (b) if the OTC Bulletin Board is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the OTC Bulletin Board; (c) if the Common Stock is not then quoted for trading on
the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink
Sheets” published by Pink Sheets, LLC (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so
reported; or (d) in all other cases, the fair market value of a share of Common Stock as
determined by an independent appraiser selected in good faith by the holder of this Warrant
and reasonably acceptable to the Company, the fees and expenses of which shall be paid by
the Company.

“Trading Market” means the following markets or exchanges on which the Common Stock is
listed or quoted for trading on the date in question: the American Stock Exchange, The
Nasdaq Capital Market, The Nasdaq Global Market, The Nasdaq Global Select Market, the New
York Stock Exchange or the OTC Bulletin Board.

9

 

     Section 8. Purchase Rights; Reorganization, Reclassification, Consolidation, Merger or
Sale.

          (a) Any recapitalization, reorganization, reclassification, consolidation, merger, sale of all
or substantially all of the Company’s assets to another Person or other transaction in each case
that is effected in such a way that holders of Common Stock are entitled to receive (either
directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange
for Common Stock is referred to herein as an “Organic Change.” Upon the consummation of any (i)
sale of all or substantially all of the Company’s assets to an acquiring Person or (ii) other
Organic Change following which the Company is not a surviving entity, the Company will secure from
the Person purchasing the assets or the successor resulting from the Organic Change (in each case,
the “Acquiring Entity”) a written agreement to deliver to Holder in exchange for this Warrant, a
security of the Acquiring Entity evidenced by a written instrument substantially similar in form
and substance to this Warrant and reasonably satisfactory to the Holder. Prior to the consummation
of any other Organic Change, the Company shall make appropriate provision to insure that Holder
will thereafter have the right to acquire and receive in lieu of the shares of Common Stock
immediately theretofore acquirable and receivable upon the exercise of this Warrant, such shares of
stock, securities or assets that would have been issued or payable in the Organic Change with
respect to or in exchange for the number of Warrant Shares that would have been acquirable as of
the date of the Organic Change.

     Section 9. Registration Rights. Pegasus Partners IV, L.P. shall have the registration
rights as set forth in Exhibit C hereto (the “Registration Rights Agreement”) with respect
to the Warrant Shares, which Registration Rights Agreement shall be dated no later than the
Issuance Date as the same may be amended, modified and/or supplemented from time to time.

     Section 10. Lost, Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost,
stolen, mutilated or destroyed, the Company shall promptly, on receipt of an indemnification
undertaking reasonably satisfactory to the Company (or, in the case of a mutilated Warrant, the
Warrant), issue a new Warrant of like denomination and tenor as this Warrant so lost, stolen,
mutilated or destroyed.

     Section 11. Notice. Any notices, consents, waivers or other communications required
or permitted to be given under the terms of this Warrant must be in writing and will be deemed to
have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
fax transmittal (provided confirmation of transmission is mechanically or electronically generated
and kept on file by the sending party); or (iii) one Business Day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the
same. The addresses and fax numbers for communications shall be:

10

 

If to the Company:

Lighting Science Group Corporation

2100 McKinney Ave

Suite 1555

Dallas, TX 75201

Tel: 214-382-3630

Fax: 214-382-3631

Attention: Stephen Hamilton

With a copy to:

Haynes and Boone, LLP

901 Main Street, Suite 3100

Dallas, TX 75202-3789

Fax: (214) 200-0577

Attention: Greg R. Samuel, Esq.

If to the Holder, at the address and fax number set forth on Appendix I to this Warrant. Each
party shall provide five days’ prior written notice to the other party of any change in address or
fax number. Written confirmation of receipt (A) given by the recipient of any notice, consent,
waiver or other communication, (B) mechanically or electronically generated by the sender’s fax
machine containing the time, date, recipient fax number and an image of the first page of the
transmission, or (C) provided by a nationally recognized overnight delivery service, shall be
rebuttable evidence of receipt.

     Section 12. Amendment and Waiver. Except as otherwise provided herein, this Warrant
may not be modified or amended except pursuant to an instrument in writing signed by the Company
and the Holder. No provision hereunder may be waived other than in a written instrument executed
by the waiving party.

     Section 13.  Governing Law. This Warrant shall be construed and enforced in
accordance with, and all questions concerning the construction, validity, interpretation and
performance of this Warrant shall be governed by, the internal laws of the State of Texas, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of
Texas or any other jurisdictions) that would cause the application of the laws of any jurisdictions
other than the State of Texas.

     Section 14. Restrictive Legends. At all times this Warrant and until such time as a
registration statement has been declared effective by the U.S. Securities and Exchange Commission
or the Warrant Shares may be sold pursuant to Rule 144 under the Securities Act without any
restriction as to the number of securities that can then be immediately sold, certificates for any
Warrant Shares will, in addition to any legend required under applicable securities law, bear a
restrictive legend substantially in the form first set forth above.

11

 

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed as of                     ,
2008.

	 	 	 	 	 
	 	LIGHTING SCIENCE GROUP CORPORATION

 	 
	 	By:  	/s/ Stephen Hamilton
	 
	 	 	Name:  	Stephen A. Hamilton 	 
	 	 	Title:  	Vice President-Finance 	 
	 

12

 

Exhibit A To Warrant

LIGHTING SCIENCE GROUP CORPORATION

EXERCISE NOTICE

TO BE EXECUTED BY THE REGISTERED HOLDER

TO EXERCISE THIS WARRANT

     The undersigned holder hereby exercises the right to purchase                      shares of
Common Stock (“Warrant Shares”) of Lighting Science Group Corporation, a Delaware corporation (the
“Company”), evidenced by the attached Warrant (the “Warrant”). Capitalized terms used herein and
not otherwise defined shall have the respective meanings set forth in the Warrant.

     1. Payment of Exercise Price (check applicable box).

[ ] Payment in the sum of $                     [is enclosed] [has been wire transferred
to the Company at the following account:                     ] in accordance with the
terms of the Warrant.

     2. Delivery of Warrant Shares. The Company shall deliver the Warrant Shares in the
name of the undersigned or in such other name as is specified below in accordance with the terms of
the Warrant at the following address:

                                                            

                                                            

                                                            

     3. Accredited Investor. The undersigned is an “accredited investor” as defined in
Regulation D promulgated under the Securities Act of 1933, as amended.

Date:                           __, ______

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

13

 

ACKNOWLEDGMENT

     The Company hereby acknowledges this Exercise Notice and hereby directs                      to issue the
above indicated number of shares of Common Stock in accordance with the Transfer Agent Instructions
dated ___, 200___from the Company and acknowledged and agreed to by                     .

	 	 	 	 	 
	 	LIGHTING SCIENCE GROUP CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

14

 

Exhibit B To Warrant

ASSIGNMENT

To be Executed by the Registered Holder in Order to Assign Warrants

     For Value Received,                                                             hereby sells, assigns
and transfers
unto

 

(PLEASE TYPE OR PRINT NAME AND ADDRESS)

 

 

 

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

	 	 	 
	and be delivered to
	 	 
	 

	 	 

(PLEASE PRINT OR TYPE NAME AND ADDRESS)

                                                            of the Warrants represented by this Warrant Certificate and
does hereby irrevocably constitute and appoint                                                              Attorney to transfer
this Warrant Certificate on the books of the Company, with full power of substitution in the
premises.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	 	 	 	 	(SIGNATURE)

THE SIGNATURE TO THE ASSIGNMENT MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT
CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER AND
MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN
ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM
PURSUANT TO S.E.C. RULE 17 Ad — 15).

15

 

Exhibit C To Warrant

[Registration Rights Agreement attached]

16

 

Appendix I

Holder’s Contact Information

Name:

Address:

City, State, Zip:

Telephone Number:

Facsimile Number:

E-mail Address:

17

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