Document:

Investment Agreement

 Exhibit 10.1 
 EXECUTION COPY 
  

 
  

INVESTMENT AGREEMENT 
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I        PURCHASE AND SALE OF SHARES; USE OF
PROCEEDS
	  	 	1	  
	 1.1
	 	Agreement to Issue, Sell and Purchase the Shares	  	 	1	  
	 1.2
	 	Closing and Delivery of the Shares	  	 	1	  
	 1.3
	 	Use of Proceeds	  	 	2	  
		
	 ARTICLE II      REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	 	2	  
	 2.1
	 	Organization and Qualification	  	 	2	  
	 2.2
	 	Authorized Capital Stock	  	 	3	  
	 2.3
	 	Issuance, Sale and Delivery of the Shares	  	 	3	  
	 2.4
	 	Due Execution, Delivery and Performance of the Transaction Documents	  	 	4	  
	 2.5
	 	Board Approval	  	 	5	  
	 2.6
	 	Valid Offering	  	 	5	  
	 2.7
	 	Litigation	  	 	5	  
	 2.8
	 	Financial Advisors	  	 	5	  
	 2.9
	 	SEC Filings; Financial Statements	  	 	5	  
	 2.10
	 	Absence of Certain Developments	  	 	6	  
	 2.11
	 	Nasdaq Compliance and Listing	  	 	7	  
		
	 ARTICLE III     REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
PURCHASER
	  	 	7	  
	 3.1
	 	Investment Representations and Covenants	  	 	7	  
	 3.2
	 	Authorization; Validity of Transaction Documents	  	 	7	  
	 3.3
	 	No Conflict	  	 	8	  
	 3.4
	 	No Legal, Tax or Investment Advice	  	 	8	  
	 3.5
	 	Restrictive Legend	  	 	8	  
	 3.6
	 	Sufficient Funds	  	 	8	  
		
	 ARTICLE IV     COVENANTS
	  	 	9	  
	 4.1
	 	Efforts	  	 	9	  
	 4.2
	 	Conduct of the Business	  	 	9	  
	 4.3
	 	Information Statement; Stockholders Consent	  	 	10	  
	 4.4
	 	Injunctive Relief	  	 	10	  
	 4.5
	 	Covenants.	  	 	11	  
	 4.6
	 	Public Announcements	  	 	11	  
	 4.7
	 	Nasdaq Matters	  	 	11	  
	 4.8
	 	Reservation of Common Stock	  	 	12	  
		
	 ARTICLE V      CONDITIONS TO CLOSING
	  	 	12	  
	 5.1
	 	Conditions to the Company’s Obligations	  	 	12	  
	 5.2
	 	Conditions to the Purchaser’s Obligations	  	 	12	  
		
	 ARTICLE VI     TERMINATION
	  	 	13	  
	 6.1
	 	Termination	  	 	13	  
	 6.2
	 	Effect of Termination	  	 	14	  

  
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	 ARTICLE VII   SURVIVAL OF REPRESENTATIONS AND WARRANTIES
	  	 	14	  
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	14	  
	 8.1
	 	Broker’s Fee	  	 	14	  
	 8.2
	 	Assignment	  	 	14	  
	 8.3
	 	Expenses	  	 	15	  
	 8.4
	 	Notices	  	 	15	  
	 8.5
	 	Changes	  	 	16	  
	 8.6
	 	Headings	  	 	16	  
	 8.7
	 	Severability	  	 	16	  
	 8.8
	 	Governing Law	  	 	16	  
	 8.9
	 	Counterparts	  	 	16	  
	 8.10
	 	Entire Agreement	  	 	16	  

  

			
	EXHIBIT A	  	Form of Certificate of Designations
	EXHIBIT B	  	Form of Registration Rights Agreement Acknowledgement

  
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 EXECUTION COPY 
 INVESTMENT AGREEMENT 
 THIS INVESTMENT AGREEMENT is made as of
February 21, 2013, by and among Revolution Lighting Technologies, Inc. (the “Company”), a corporation organized under the laws of the State of Delaware, with its principal offices at 124 Floyd Smith Drive, Suite 300, Charlotte,
NC, and RVL 1 LLC, a limited liability company organized under the laws of the State of Delaware, with its principal offices at 177 Broad Street, Stamford, Connecticut 06901 (the “Purchaser”). 

IN CONSIDERATION of the mutual covenants contained in this Agreement, the Company and the Purchaser agree as follows: 

ARTICLE I 

PURCHASE AND SALE OF SHARES; USE OF PROCEEDS 
 1.1 Agreement to Issue, Sell and Purchase the Shares. At the Closing (as defined in Section 1.2) and upon the terms and conditions hereinafter set forth, the Company will sell to the
Purchaser, and the Purchaser will purchase from the Company, an aggregate number of Five Thousand (5,000) shares (the “Shares”) of a newly created series of the Company’s Preferred Stock, par value $0.001 per share,
designated “Series E Convertible Redeemable Preferred Stock” (the “Preferred Stock”), for an aggregate purchase price equal to Five Million Dollars ($5,000,000.00) (the “Aggregate Purchase Price”). The
Preferred Stock shall have the rights, preferences and privileges set forth in the Certificate of Designations with respect to the Preferred Stock, in the form of Exhibit A annexed hereto and made a part hereof (the “Certificate of
Designations”). Each share of Preferred Stock shall have a stated value of $1000.00 (the “Stated Value”) and shall be convertible, subject to the conditions set forth in the Certificate of Designations, into shares (the
“Common Shares”) of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), at the Conversion Price, subject to certain restrictions on conversion set forth in the Certificate of
Designations. 
 For purposes of this Agreement: “Conversion Price” means an amount equal to $1.17; which amount is equal to
the closing price of a share of the Common Stock on the NASDAQ Stock Market (as reported by Bloomberg Financial Markets) on the trading day immediately preceding the Closing Date. 

1.2 Closing and Delivery of the Shares. 
 (a) Closing. The purchase and sale of the Shares (the “Closing”) shall occur at the offices of Lowenstein Sandler PC, 1251 Avenue of the Americas, New York, NY 10020
as soon as practicable after all of the conditions contained in Article V have been satisfied or waived (other than such conditions which shall be satisfied on the Closing Date), or at such other place, time, or date as may be mutually agreed
to in writing by Purchaser and the Company. The day on which the Closing occurs is sometimes referred to herein as the “Closing Date”. For purposes of this Agreement, the term “Business Day” shall mean
any day other than a Saturday, Sunday or a day on which the banks in New York, New York are authorized by Law or executive order to be closed. For purposes of this Agreement, the term “Law” means any judgment, ruling,
order, edict, decree, statute, law (including common law), ordinance, rule, permit, code or regulation applicable to the Company or the Subsidiary or their respective businesses, properties or assets. 

 (b) Proceedings at Closing. All actions to be taken and all documents to be executed
and delivered by the Company in connection with the consummation of the transactions contemplated at the Closing shall be reasonably satisfactory in form and substance to Purchaser and its counsel, and all actions to be taken and all documents to be
executed and delivered by Purchaser in connection with the consummation of the transactions contemplated at the Closing shall be reasonably satisfactory in form and substance to the Company and its counsel. All actions to be taken and all documents
to be executed and delivered by all parties hereto at the Closing shall be deemed to have been taken and executed and delivered simultaneously, and no action shall be deemed taken nor any document executed or delivered until all have been taken,
executed, and delivered. 
 (c) Delivery of the Shares. At the Closing, the Company shall deliver to the Purchaser one or
more stock certificates registered in the name of the Purchaser, representing the Shares set forth in Section 1.1 above and bearing the legend specified in Section 3.5 hereof referring to the fact that the Shares were sold in
reliance upon the exemption from registration under Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”) against delivery of the purchase price therefore by wire transfer of immediately
available funds to an account designated by the Company. 
 1.3 Use of Proceeds. Proceeds from the sale of the Shares
shall be used by the Company for working capital purposes and to fund (i) certain expenses incurred by the Purchaser pursuant to Section 8.3, and (ii) such other expenses as the parties otherwise may agree. 

ARTICLE II 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 The Company hereby represents and warrants to, and covenants with, the Purchaser as follows: 
 2.1 Organization and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and the Company is qualified to do
business as a foreign corporation in each jurisdiction in which such qualification is required, except where failure to be so qualified would not reasonably be expected to result in a Material Adverse Effect. Each Subsidiary is duly organized,
validly existing and in good standing under the laws of its jurisdiction of formation and is qualified to do business as a foreign entity in each jurisdiction in which such qualification is required, except where failure to be so qualified would not
reasonably be expected to result in a Material Adverse Effect. For purposes of this Agreement, the term “Material Adverse Effect” means: (a) a material adverse effect on the condition (financial or otherwise), properties,
assets (including intangible assets), business, operations or results of operations of the Company and the Subsidiary, taken as a whole, or (b) a material adverse effect on the ability of the Company to perform its obligations under this
Agreement. Schedule 2.1 sets forth each direct or indirect subsidiary of the Company (each a “Subsidiary” and collectively, the “Subsidiaries). 

  
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 2.2 Authorized Capital Stock. As of the date hereof, the Company’s authorized
capital stock consists of (i) 120,000,000 shares of Common Stock, of which 71,347,323 shares are issued and outstanding, and (ii) 5,000,000 shares of preferred stock, par value $0.001 per share, of which (A) 1,000,000 have been
designated Series B Convertible Preferred Stock (the “Series B Stock”), 2 shares of which are issued and outstanding, (B) 13,000 have been designated Series C Convertible Preferred Stock (the “Series C Stock”),
10,000 shares of which are issued and outstanding, and (C) 25,000 have been designated Series D Convertible Preferred Stock (the “Series D Stock”), 11,915 shares of which are issued and outstanding. Except as set forth on
Schedule 2.2, the Company has not issued any shares since September 30, 2012 other than pursuant to employee or director equity incentive plans or purchase plans approved by the Board of Directors of the Company (the
“Board”) and upon the exercise or conversion of options, warrants and preferred stock outstanding on such date. The issued and outstanding shares of the Company’s Common Stock have been duly authorized and validly issued, are
fully paid and nonassessable, have been issued in compliance with all federal and state securities laws and were not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities. Except as set
forth in Schedule 2.2 or as contemplated by this Agreement, the Company does not have outstanding any options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible
into, or any agreements or commitments to issue or sell, shares of capital stock or other securities of the Company and there are no agreements or commitments obligating the Company to repurchase, redeem, or otherwise acquire capital stock or other
securities of the Company. Except as set forth in Schedule 2.2 or as contemplated by this Agreement, there are no agreements to which the Company is a party or by which it is bound with respect to the voting (including without limitation
voting trusts or proxies), registration under the Securities Act, or sale or transfer (including without limitation agreements relating to pre-emptive rights, rights of first refusal, rights of first offer, buy-sell rights, co-sale rights or
“drag-along” rights) of any securities of the Company. With respect to each Subsidiary, (i) the Company owns 100% of each such Subsidiary’s capital stock, (ii) all the issued and outstanding shares of each such
Subsidiary’s capital stock have been duly authorized and validly issued, are fully paid and nonassessable, have been issued in compliance with applicable federal and state securities laws, and were not issued in violation of or subject to any
preemptive rights or other rights to subscribe for or purchase securities, (iii) there are no outstanding options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible
into, or any contracts or commitments to issue or sell, shares of any Subsidiary’s capital stock, and (iv) there are no agreements or commitments obligating any Subsidiary to repurchase, redeem, or otherwise acquire capital stock or other
securities of the Company or any such Subsidiary. The Company does not directly or indirectly own, or have a right to acquire, any equity or similar interest in, or any interest convertible or exchangeable or exercisable for, any equity or similar
interest in, any Person, other than the Subsidiaries. For purposes of this Agreement, the term “Person” shall mean any individual, partnership, company, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization, government or agency or political subdivision thereof, or other entity. 
 2.3 Issuance,
Sale and Delivery of the Shares. When issued, delivered and paid for in accordance with the terms hereof, the Shares will be duly authorized, validly issued, fully paid and nonassessable, shall have the rights, preferences and limitations set
forth in the Certificate of Designations and shall be free and clear of all liens, claims, encumbrances and restrictions, 

  
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except as imposed by applicable securities laws. Upon the conversion of the Preferred Stock pursuant to the terms of the Certificate of Designations, the Common Shares will be validly issued,
fully paid and nonassessable, and shall be free and clear of all liens, claims, encumbrances and restrictions except as imposed by applicable securities laws. No further approval or authorization of the Board will be required for the issuance and
sale of the Shares to be sold by the Company pursuant to the terms hereof or for the issuance of the Common Shares upon the conversion of the Preferred Stock pursuant to the terms of the Certificate of Designations. 

2.4 Due Execution, Delivery and Performance of the Transaction Documents. The Company has full legal right, corporate power and
authority to authorize, execute and deliver this Agreement, the Certificate of Designations and the Registration Rights Agreement Acknowledgement attached hereto as Exhibit B (all such agreements and documents are collectively referred to
herein as the “Transaction Documents”), perform its obligations hereunder and thereunder and consummate the transactions contemplated hereby and thereby. The execution and delivery of the Transaction Documents, the performance of
the Company’s obligations hereunder and thereunder and the consummation of the transactions contemplated hereby and thereby have been duly authorized by the Company. Except as set forth in Schedule 2.2, the execution and performance of
the Transaction Documents by the Company and the consummation of the transactions therein contemplated will not (i) violate any provision of the organizational documents of the Company, (ii) result in the creation of any lien, pledge,
hypothecation, charge, mortgage, security interest, encumbrance, restriction, adverse claim, interference or right of third party of any nature upon any material assets of the Company pursuant to the terms or provisions of, or will not conflict
with, result in the breach or violation of, or constitute, either by itself or upon notice or the passage of time or both, a default under, any material agreement, commitment, undertaking, mortgage, deed of trust, lease, franchise, license,
indenture, permit or other instrument of any nature to which the Company or the Subsidiary is a party or by which the Company or its properties, or the Subsidiary or the Subsidiary’s properties, may be bound or affected, or (iii) violate
any statute or any authorization, judgment, decree, order, rule or regulation of any court or any regulatory body, administrative agency or other governmental or quasi-governmental body applicable to the Company or the Subsidiary or any of their
respective properties; provided it is understood that the Shares (i) shall not be entitled to cast a vote for the number of shares of Common Stock into which the Shares are convertible and (ii) shall not be convertible into shares
of Common Stock until (A) the issuance of shares of Common Stock upon conversion of the Shares has been approved by the stockholders of the Company in accordance with NASDAQ Listing Rule 5635 and (B) the Company has complied with Rule
14c-2 of the Securities Exchange Act of 1934, as amended, in respect of such stockholder approval. No consent, approval, authorization, order, filing with, or action by or in respect of any court, regulatory body, administrative agency or other
governmental or quasi-governmental body is required for the execution and delivery of the Transaction Documents or the consummation of the transactions contemplated thereby, other than such as have been made or obtained and except for compliance
with the Blue Sky laws, federal securities laws and NASDAQ rules applicable to the listing of the Shares and the issuance of shares of Common Stock upon conversion of the Shares. Upon their execution and delivery, and assuming the valid execution
thereof by the Purchaser, the Transaction Documents will constitute the valid and binding obligations of the Company, enforceable in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy,

  
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insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 2.5 Board
Approval. The Board has duly delegated the approval of the Transaction Documents and the consummation of the transactions contemplated thereby (including the issuance of the Shares) to the Audit Committee of the Board (the “Audit
Committee”). The Audit Committee has, as of the date of this Agreement, at a meeting duly called and held, duly adopted resolutions to approve the Transaction Documents and the consummation of the transactions contemplated thereby
(including the issuance of the Shares). 
 2.6 Valid Offering. Assuming the accuracy of the representations and
warranties of Purchaser set forth in Article III, the offer, sale, and issuance of the Shares and the issuance of the Common Shares will be exempt from the registration requirements of the Securities Act and will have been registered or
qualified (or are exempt from registration and qualification) under the registration or qualification requirements of all applicable state securities Laws. Neither the Company nor any Person acting on its behalf will knowingly take any action that
would cause the loss of any such exemption. 
 2.7 Litigation. There are no judicial, administrative, arbitral or
mediation-related actions, suits, proceedings (public or private) or claims or proceedings by or before a Governmental Entity pending or, to the knowledge of the Company, threatened that are reasonably likely to prohibit or restrain the ability of
the Company to enter into this Agreement or consummate the transactions contemplated hereby. 
 2.8 Financial Advisors.
No Person has acted, directly or indirectly, as a broker, finder or financial advisor for the Company in connection with the transactions contemplated by this Agreement and no Person is entitled to any fee or commission or like payment in respect
thereof. For purposes of this Agreement, the term “Person” shall mean any individual, partnership, company, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government
or agency or political subdivision thereof, or other entity. 
 2.9 SEC Filings; Financial Statements. 

(a) Except as set forth in Schedule 2.9(a), the Company has filed all forms, reports and documents required to be filed with the
SEC since January 1, 2010, all of which are available to the Purchaser on the website maintained by the SEC at http://www.sec.gov (the “SEC Website”). All such required forms, reports and documents (including those that the
Company may file subsequent to the date hereof) are referred to herein collectively as the “Company SEC Reports”. In addition, all documents filed as exhibits to the Company SEC Reports (“Exhibits”) are available on
the SEC Website. All documents required to be filed as Exhibits to the Company SEC Reports have been so filed. As of their respective filing dates, the Company SEC Reports (i) complied in all material respects with the requirements of the
Securities Act or the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), as the case may be, and the rules and regulations of the SEC thereunder applicable to such

  
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Company SEC Reports, and (ii) did not at the time they were filed (or if amended or superseded by a subsequent filing prior to the date of this Agreement, then on the date of such subsequent
filing) contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading. The Company is engaged only in the business described in the Company SEC Reports and the Company SEC Reports contain a complete and accurate description in all material respects of the Company’s and the Subsidiary’s business.

 (b) Each of the consolidated financial statements (including, in each case, any related notes thereto) contained in the
Company SEC Reports (the “Company Financials”), including any Company SEC Reports filed after the date hereof until the Closing, (i) complied or will comply as to form in all material respects with applicable accounting
requirements and with the published rules and regulations of the SEC with respect thereto as of their respective dates, (ii) was or will be prepared in accordance with generally accepted accounting principles in the United States
(“GAAP”) applied on a consistent basis throughout the periods involved and consistent with each other (except as may be indicated in the notes thereto or, in the case of unaudited interim financial statements, as may be permitted by
the SEC on Form 10-Q under the Exchange Act) and (iii) fairly presented in all material respects the consolidated financial position of the Company and the Subsidiary as at the respective dates thereof and the consolidated results of operations
and cash flows for the periods indicated, except that the unaudited interim financial statements were or are reasonably expected to be subject to normal and recurring year-end adjustments. There has been no material change in the Company’s
accounting policies except as described in the notes to the Company Financials. The balance sheet of the Company contained in the Company SEC Report for the quarter ended September 30, 2012, is hereinafter referred to as the “Company
Balance Sheet.” Except as set forth on Schedule 2.9(b), neither the Company nor the Subsidiary has incurred any obligations or liabilities (absolute, accrued, contingent or otherwise) of any nature required to be disclosed on a
balance sheet or in the related notes to the consolidated financial statements prepared in accordance with GAAP which are, individually or in the aggregate, material to the business, operations, results of operations or condition (financial or
otherwise) of the Company and the Subsidiary taken as a whole, except liabilities (i) reflected on, reserved against, or disclosed in the notes to the Company Balance Sheet, or (ii) incurred since the date of the Company Balance Sheet in
the ordinary course of business consistent with past practice. 
 (c) The Company has heretofore made available to the Purchaser
complete and correct copies of any amendments or modifications, which have not yet been filed with the SEC but which are required to be filed, to agreements, documents or other instruments which previously had been filed by the Company with the SEC
pursuant to the Securities Act or the Exchange Act. 
 2.10 Absence of Certain Developments. Except as set forth on
Schedule 2.10 or as expressly contemplated by this Agreement, since September 30, 2012 through the date hereof, (1) the Company has conducted business only in the ordinary course of its business, and (ii) there has not been any
Material Adverse Effect. 

  
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 2.11 Nasdaq Compliance and Listing. The Company’s Common Stock is registered
pursuant to Section 12(b) of the Exchange Act and is listed on the NASDAQ Stock Market. Except as set forth in Schedule 2.11, the Company has taken no action designed to, or likely to have the effect of, terminating the registration of
the Common Stock under the Exchange Act or delisting the Common Stock from the NASDAQ Stock Market. No order ceasing or suspending trading in any securities of the Company or prohibiting the issuance and/or sale of the Shares or the Common Shares is
in effect and no proceedings for such purpose are pending or threatened. Except as set forth in Schedule 2.11, the Company is in compliance with the continued listing requirements and standards of the NASDAQ Stock Market with respect to the
Common Stock. The Company shall comply with all requirements of the National Association of Securities Dealers, Inc. with respect to the issuance of the Shares. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PURCHASER

 The Purchaser hereby represents and warrants to, and covenants with, the Company as follows: 

3.1 Investment Representations and Covenants. The Purchaser represents and warrants to, and covenants with, the Company that:
(i) the Purchaser is knowledgeable, sophisticated and experienced in making, and is qualified to make, decisions with respect to investments in securities including the Shares and the Common Shares; (ii) the Purchaser is acquiring the
number of Shares set forth in Section 1.1 above in the ordinary course of its business and for its own account for investment only and with no present intention of distributing any of such Shares or the Common Shares or any arrangement
or understanding with any other persons regarding the distribution of such Shares and the Common Shares within the meaning of Section 2(11) of the Securities Act; (iii) the Purchaser will not, directly or indirectly, offer, sell, pledge,
transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) any of the Shares or the Common Shares except in compliance with the Securities Act, applicable state securities laws and the
respective rules and regulations promulgated thereunder; and (iv) the Purchaser is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under the Securities Act. The Purchaser understands that its
acquisition of the Shares and the Common Shares has not been registered under the Securities Act or registered or qualified under any state securities laws in reliance on specific exemptions therefrom, which exemptions may depend upon, among other
things, the bona fide nature of the Purchaser’s investment intent as expressed herein. 
 3.2 Authorization; Validity of
Transaction Documents. The Purchaser further represents and warrants to, and covenants with, the Company that (i) the Purchaser has full right, power, authority and capacity to enter into the Transaction Documents to which it is a party and
to consummate the transactions contemplated thereby and has taken all necessary action to authorize the execution, delivery and performance of the Transaction Documents to which it is a party, and (ii) upon the execution and delivery of the
Transaction Documents to which it is a party, assuming the valid execution thereof by the Company and the other parties thereto, the Transaction Documents to which it is a party shall constitute valid and binding obligations of the Purchaser
enforceable in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws 

  
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affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law). 
 3.3 No Conflict. The execution, delivery and performance of the
Transaction Documents to which it is a party and the consummation of the transactions contemplated thereby by the Purchaser will not result in any violation of, be in conflict with or constitute a default under, any law, statute, regulation,
ordinance, material contract or agreement, instrument, judgment, decree or order to which the Purchaser is a party or by which it is bound, except as would not reasonably be expected to have a material adverse effect on the ability of Purchaser to
consummate the transactions contemplated hereby. 
 3.4 No Legal, Tax or Investment Advice. The Purchaser understands
that nothing in the Transaction Documents, the SEC Documents or any other materials presented to the Purchaser in connection with the purchase and sale of the Shares and the Common Shares constitutes legal, tax or investment advice. The Purchaser
has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of Shares and the Common Shares. The Purchaser acknowledges that it has not relied on any
representation or warranty from the Company or any other Person in making its investment or decision to invest in the Company, except as expressly set forth in this Agreement. 
 3.5 Restrictive Legend. The Purchaser understands that, until such time as a registration statement covering the Shares and the Common Shares has been declared effective or the Shares and the
Common Shares may be sold pursuant to Rule 144 under the Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, the Shares and the Common Shares shall bear a restrictive
legend in substantially the following form (and a stop-transfer order may be placed against transfer of the certificates for the Shares and the Common Shares): 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PURSUANT TO RULE 144
UNDER SAID ACT.” 
 3.6 Sufficient Funds. The Purchaser has sufficient funds to consummate the purchase of the
Shares and such funds will remain available at the Closing. 
 ARTICLE IV 

COVENANTS 

4.1 Efforts. The Company and Purchaser will use their reasonable best efforts to cause the conditions specified in Article
V hereof to be satisfied as soon as practicable. At and 

  
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from time to time after the Closing, at the request of any party hereto, the other party shall execute and deliver such additional certificates, instruments, and other documents and take such
other actions as such party may reasonably request in order to carry out the purposes of this Agreement. 
 4.2 Conduct of
the Business. Between the date hereof and the Closing Date, or earlier termination of this Agreement in accordance with the terms hereof, the Company will not (and will cause the Subsidiaries not to): 

(i) except (A) as set forth on Schedule 4.2(i) and (B) by virtue of the conversion of any capital stock of the Company
outstanding on the date hereof, issue any shares of preferred stock, Common Stock or any other security of the Company convertible into Common Stock; 
 (ii) declare, set aside, make or pay any dividend or other distribution (whether in cash, stock or property) in respect of the capital stock of the Company or repurchase, redeem or otherwise acquire any
outstanding shares of the capital stock or other securities of, or other ownership interests in, the Company; 
 (iii) effect
any recapitalization, reclassification, stock split or like change in the capitalization of the Company; 
 (iv) amend the
Company’s certificate of incorporation to adversely affect the rights of the holders of Common Stock; 
 (v) incur or
assume any Indebtedness except in the ordinary course of the Company’s business. “Indebtedness” shall mean without duplication, (i) the principal of and premium (if any), prepayment penalties (if any) in respect of
(A) indebtedness of such Person for money borrowed and (B) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable; (ii) all obligations of such
Person issued or assumed as the deferred purchase price of property, all conditional sale obligations of such Person and all obligations of such Person under any title retention agreement; (iii) all obligations of such Person under leases
required to be capitalized in accordance with GAAP; (iv) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction; and (v) all obligations of the
type referred to in clauses (i) through (iv) of any Persons for the payment of which such Person is responsible or liable or for which any property or asset of such Person is secured by a lien, under any legally binding obligation,
including as obligor, guarantor, surety or otherwise. ; 
 (vi) enter into or agree to enter into any merger or consolidation
with any corporation or other entity, and not invest in, make a loan, material advance or capital contribution to or otherwise acquire the securities of any other Person; 
 (vii) except as approved by the Board or a duly authorized Committee of the Board, (A) increase the annual level of compensation of any employee of the Company, (B) increase the annual level of
compensation payable or to become payable by the Company to any officers, (C) grant any unusual or extraordinary bonus, benefit or other direct or indirect compensation to any employee, officer, director or consultant, (D) increase the
coverage or 

  
 -9-

 
benefits available under any (or create any new) severance pay, termination pay, vacation pay, company awards, salary continuation for disability, sick leave, deferred compensation, bonus or
other incentive compensation, insurance, pension or other employee benefit plan or arrangement made to, for, or with any of the directors, officers, employees, agents or representatives of the Company or otherwise modify or amend or terminate any
such plan or arrangement or (E) enter into any collective bargaining, employment, deferred compensation, severance, consulting, non-competition or similar agreement (or amend any such agreement) to which the Company is a party or involving a
current or former director, officer or employee of the Company; and 
 (viii) agree to do anything prohibited by this
Section 4.2. 
 4.3 Information Statement; Stockholders Consent. On the Closing Date, the Purchaser will
provide to the Company its written consent in lieu of a meeting (the “Stockholders Consent”), effective under the Delaware General Corporation Law (the “DGCL”) Section 228 to approve the issuance of shares of
Common Stock upon conversion of the Shares in accordance with NASDAQ Listing Rule 5635 (the “Stockholder Approval”). Upon Purchaser’s request, the Company will promptly prepare an information statement (as amended or
supplemented, the “Information Statement”) and file with the SEC the Information Statement to comply with Rule 14c-2 of the Securities Exchange Act of 1934, as amended, in respect of the Stockholder Consent. Prior to the filing of
the Information Statement with the SEC, the Company will provide the Purchaser and its counsel with an opportunity to review and comment on the Information Statement. After receiving and promptly responding to any comments of the SEC to the
Information Statement, the Company shall promptly mail the Information Statement to the stockholders of the Company. Prior to responding to any comments of the SEC on the Information Statement, the Company shall furnish to the Purchaser and its
counsel a copy of any correspondence from the SEC relating to the Information Statement and the proposed response to the SEC’s comments and provide the Purchaser and its counsel with the opportunity to review and comment on such proposed
response to the SEC. The Purchaser shall promptly furnish in writing to the Company such information relating to the Purchaser and its investment in the Company as the Company or the SEC may reasonably request for inclusion in the Information
Statement. The Company will comply with Section 14(c) of the Exchange Act and the rules promulgated thereunder in relation to the Information Statement to be sent to the stockholders of the Company in connection with the Stockholders Consent,
and the Information Statement shall not, on the date that the Information Statement (or any amendment thereof or supplement thereto) is first mailed to stockholders of the Company, contain any untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements made therein not false or misleading, or omit to state any material fact necessary to correct any statement in any earlier communication with respect to the Stockholders Consent which has
become false or misleading. 
 4.4 Injunctive Relief. Each party acknowledges that any breach or threatened breach of the
provisions of Sections 4.3, 4.7 and 4.8 of this Agreement will cause irreparable injury to the other party for which an adequate monetary remedy does not exist. Accordingly, in the event of any such breach or threatened breach,
the non-breaching party shall be entitled, in addition to the exercise of other remedies, to seek and (subject to court approval) obtain injunctive relief, without necessity of posting a bond, restraining the breaching party from committing such
breach or threatened breach. The right provided under this Section 4.4 shall be in addition to, and not in lieu of, any other rights and remedies available to the parties. 

  
 -10-

 4.5 Covenants. 

(a) Each party hereto shall take all commercially reasonable steps necessary or desirable, and proceed diligently and in good faith and
shall use its reasonable best efforts to obtain, as promptly as practicable, (i) all authorizations, consents, orders and approvals of all Governmental Entities that may be or become necessary for such party’s authorization, execution and
delivery of, and the performance of its obligations pursuant to, this Agreement and the other Transaction Documents, and (ii) all approvals and consents required under all material contracts to which the Company or the Subsidiary is a party to
consummate the transactions contemplated hereby. Each party will cooperate fully (including, without limitation, by providing all information the other party reasonably requests) with the other parties in promptly seeking to obtain all such
authorizations, consents, orders and approvals. 
 (b) Each party hereto shall promptly inform the other party of any
communication from any regulatory body, agency, court, tribunal or governmental or quasi-governmental entity, foreign or domestic (“Governmental Entity”) regarding any of the transactions contemplated by this Agreement. If any party
or affiliate thereof receives a request for additional information or documentary material from any such Governmental Entity in respect of the transactions contemplated hereby, then such party will endeavor in good faith to make, or cause to be
made, as soon as reasonably practicable and after consultation with the other party, an appropriate response in compliance with such request. 
 4.6 Public Announcements. The Company and Purchaser will consult with each other and will mutually agree (the agreement of each party not to be unreasonably withheld) upon the content and timing of
any press release or other public statement in respect of the transactions contemplated hereby and shall not issue any such press release or make any such public statement prior to such consultation and agreement, except as may be required by
applicable law. 
 4.7 Nasdaq Matters. The Company shall comply with all requirements of the National Association of
Securities Dealers, Inc. with respect to the issuance of the Common Shares. The Company shall take all necessary actions, including without limitation, complying with all requirements of the National Association of Securities Dealers, Inc. and
providing appropriate notice to NASDAQ with respect to the Preferred Shares and the Common Shares in order to obtain the listing of the Common Shares on the NASDAQ Stock Market as soon as reasonably practicable. Following the Closing and for so long
as the Company qualifies as a “Controlled Company” (as defined in the NASDAQ Listing Rules), the Company shall comply with such requirements of the NASDAQ Stock Market as shall permit the Company to rely on the “Controlled
Company” exemption from the requirements of NASDAQ Listing Rules 5605(b), (d) and (e), including without limitation, complying with the disclosure requirements set forth in Instruction 1 to Item 407(a) of Regulation S-K of the
Securities Act of 1933, as amended. 
 4.8 Reservation of Common Stock. Following the Closing, the Company shall at all
times reserve and keep available out of its authorized but unissued shares of Common Stock, 

  
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solely for the purpose of providing for the conversion of the Preferred Stock, such number of shares of Common Stock as shall from time to time equal the number of shares sufficient to permit the
full conversion of the Preferred Stock issued pursuant to this Agreement in accordance with the terms of the Certificate of Designations. 
 ARTICLE V 
 CONDITIONS TO CLOSING 

5.1 Conditions to the Company’s Obligations. The Company’s obligation to complete the purchase and sale of the Shares
and deliver such stock certificates to the Purchaser at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Company (to the extent legally permissible): 

(a) Payment of Purchase Price. The Company shall have received same-day funds in the full amount of the purchase price for the
Shares being purchased hereunder; 
 (b) Representations and Warranties True. The representations and warranties made by
the Purchaser shall be true and correct in all material respects as of the Closing, except to the extent such representations and warranties expressly related to any earlier date, in which case such representations and warranties shall be true and
correct in all material respects on and as of such earlier date or after taking into account any changes contemplated by this Agreement; 
 (c) Compliance with Covenants. The Purchaser shall have performed and complied in all material respects with all covenants and agreements contained in this Agreement that are required to be
performed or complied with by it on or before the Closing; 
 (d) Registration Rights Agreement Acknowledgement. The
Purchaser shall have executed and delivered the Registration Rights Agreement Acknowledgement in the form of Exhibit B attached hereto (the “Registration Rights Agreement Acknowledgement”). 

5.2 Conditions to the Purchaser’s Obligations. The Purchaser’s obligation to accept delivery of such stock
certificate(s) and to pay for the Shares evidenced thereby shall be subject to the following condition, any one or more of which may be waived by the Purchaser (to the extent legally permissible): 

(a) Representations and Warranties True. The representations and warranties made by the Company shall be true and correct in all
material respects as of the Closing, except to the extent such representations and warranties expressly related to any earlier date, in which case such representations and warranties shall be true and correct in all material respects on and as of
such earlier date or after taking into account any changes contemplated by this Agreement; 
 (b) Compliance with
Covenants. The Company shall have performed and complied with in all material respects all covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or before the Closing; 

(c) Registration Rights Agreement Acknowledgement. The Company shall have executed and delivered the Registration Rights Agreement
Acknowledgement attached hereto as Exhibit B; 

  
 -12-

 (d) Filing Evidence. The Company shall have delivered evidence satisfactory to the
Purchaser of the filing of the Certificate of Designations with the Secretary of State of the State of Delaware; 
 (e)
Shares. The Company shall have executed and delivered the Shares to the Purchaser; 
 (f) Litigation. No action,
suit, or proceeding shall have been initiated or threatened for the purpose or with the probable or reasonably likely effect of enjoining or preventing the consummation of the transactions contemplated hereby or seeking material damages on account
thereof; 
 (g) Expenses. The Company shall have paid, or made arrangements acceptable to Purchaser for the payment of,
certain costs and expenses of Purchaser incurred in accordance with Section 8.3 hereof; and 
 (h) Third Party
Approvals. All material third party consents and approvals required to be obtained for the transactions contemplated hereby shall have been obtained and be in full force and effect as of the Closing. 

ARTICLE VI 

TERMINATION 
 6.1 Termination. This Agreement and the transactions contemplated hereby may be terminated at any time prior to the Closing: 

(a) by mutual written consent of the Purchaser and the Company; 
 (b) by the Purchaser, if the Company shall have breached or failed to perform in any material respect any of its obligations, covenants or agreements under this Agreement, or if any of the representations
and warranties of the Company set forth in this Agreement shall not be true and correct to the extent set forth in Sections 5.2(a) and 5.2(b), and such breach, failure or misrepresentation is not cured to the Purchaser’s
reasonable satisfaction within ten (10) days after the Purchaser gives the Company written notice identifying such breach, failure or misrepresentation; or 
 (c) by the Company, if the Purchaser shall have breached or failed to perform in any material respect any of its obligations, covenants or agreements under this Agreement, or any of the representations
and warranties of the Purchaser set forth in this Agreement shall not be true and correct to the extent set forth in Sections 5.1(b) and 5.1(c), and such breach, failure or misrepresentation is not cured to the Company’s
reasonable satisfaction within ten (10) days after the Company gives the Purchaser written notice identifying such breach, failure or misrepresentation. 
 6.2 Effect of Termination. In the event that this Agreement is validly terminated as provided herein, then each of the parties shall be relieved of their duties and obligations arising under this
Agreement after the date of such termination and such termination shall be without liability or obligation to the Purchaser or the Company (or any of their respective directors, 

  
 -13-

 
officers, employees, stockholders, Affiliates, agents, representatives or advisors); provided that no such termination shall relieve either party of liability for a breach of this
Agreement or fraud prior to the effective date of such termination. 
 ARTICLE VII 

SURVIVAL OF REPRESENTATIONS AND WARRANTIES 
 The representations and warranties contained herein, in any other Transaction Document or in any certificate or other writing delivered pursuant hereto or in connection herewith shall survive the Closing
until the eighteen (18) month anniversary of the Closing and any investigation or finding made by or on behalf of the Purchaser or the Company; provided that the representations and warranties in Sections 2.1, 2.2,
2.3 and 2.4 shall survive indefinitely or until the latest date permitted by law. The covenants and agreements contained herein or in any certificate or other writing delivered pursuant hereto or in connection herewith shall survive
the Closing indefinitely or for the shorter period explicitly specified herein or therein. Notwithstanding the preceding sentences, any breach of representation, warranty, covenant or agreement in respect of which indemnity may be sought under this
Agreement shall survive the time at which it would otherwise terminate pursuant to the preceding sentences, if written notice of the inaccuracy or breach thereof giving rise to such right of indemnity shall have been given to the party against whom
such indemnity may be sought prior to such time. 
 ARTICLE VIII 

MISCELLANEOUS 
 8.1 Broker’s Fee. Each of the parties hereto hereby represents to the other that, on the basis of any actions and agreements by it, there are no brokers or finders entitled to compensation in
connection with the sale of the Shares to the Purchaser. 
 8.2 Assignment. This Agreement and the rights and obligations
hereunder shall not be assigned, delegated, or otherwise transferred (whether by operation of law, by contract, or otherwise) without the prior written consent of the other party hereto; provided, however, that Purchaser may, without obtaining the
prior written consent of the Company, assign, delegate, or otherwise transfer its rights and obligations hereunder to any Affiliate of Purchaser who is an “accredited investor” as set forth in Section 3.1 and agrees to be bound
by the terms and conditions of this Agreement. The Company shall execute such acknowledgements of such assignments and collateral assignments in such forms as Purchaser may from time to time reasonably request. Any attempted assignment, delegation,
or transfer in violation of this Section 8.2 shall be void and of no force or effect. “Affiliate” means, in respect of any Person, any other Person that is directly or indirectly controlling, controlled by, or under
common control with such Person or any of its Subsidiaries, and the term “control” (including the terms “controlled by” and “under common control with”) means having, directly or indirectly, the power to direct or cause
the direction of the management and policies of a Person, whether through ownership of voting securities or by contract or otherwise. 
 8.3 Expenses. Whether or not the transactions contemplated hereby are consummated, (a) the legal, accounting, financing and due diligence expenses incurred by the Purchaser in connection with
such transactions will be borne by the Purchaser; provided that upon the Closing, the Company shall pay such expenses of the Purchaser up to a maximum of $45,000, and (b) the legal and other costs and expenses incurred by the Company in
connection with the transactions contemplated hereby will be borne by the Company. 

  
 -14-

 8.4 Notices. All notices, requests, consents and other communications hereunder shall
be in writing, shall be mailed by first-class registered or certified airmail, facsimile (with receipt confirmed by telephone) or nationally recognized overnight express courier postage prepaid, and shall be deemed given when so mailed and shall be
delivered as addressed as follows: 
  

	 	(a)	if to the Company, to: 

Revolution Lighting Technologies, Inc. 
 124 Floyd Smith Drive, Suite 300 
 Charlotte, North Carolina 

Attention: President 
 with copies to: 
 Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

 390 North Orange Avenue, Suite 1875 
 Orlando, Florida 32801 
 Attn.: Suzan A. Abramson, Esq. 

Telecopy No.: (407) 264-8243 
 Telephone No.: (407) 367-5436 
 or to such other person at such other place
as the Company shall designate to the Purchaser in writing; and 
  

	 	(b)	if to the Purchaser, to: 

 RVL 1
LLC 
 177 Broad Street 
 Stamford, CT 06901 
 Attention: Robert V. LaPenta 

with a copy to: 

Lowenstein Sandler PC 
 1251 Avenue of the Americas 
 New York, NY 10020 

Attention: Marita A. Makinen, Esq. 
 or at such other address as may have been furnished to the Company in writing. 

8.5 Changes. This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and
Purchaser. 

  
 -15-

 8.6 Headings. The headings of the various Sections of this Agreement have been
inserted for convenience of reference only and shall not be deemed to be part of this Agreement. 
 8.7 Severability. In
case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

 8.8 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 the principles of conflicts of laws. 
 8.9 Counterparts. This Agreement may be executed
in two or more counterparts, each of which shall constitute an original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and
delivered to the other parties. The submission of a signature page transmitted by facsimile (or other electronic transmission, including pdf) shall be considered as an “original” signature page for purposes of this Agreement. 

8.10 Entire Agreement. This Agreement, the attached Exhibits and Schedules, the non-disclosure agreement between the Company and
the Purchaser, and the other agreements, documents and instruments contemplated hereby and referenced herein contain the entire understanding of the parties, and there are no further or other agreements or understanding, written or oral, in effect
between the parties relating to the subject matter hereof. 
 [Signatures appear on following page.]

  
 -16-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
duly authorized representatives as of the day and year first above written. 
  

					
	COMPANY:
	
	REVOLUTION LIGHTING TECHNOLOGIES, INC.
		
	By	 	 /s/ Charles J. Schafer

		 	Name:	 	Charles J. Schafer
		 	Title:	 	President
	
	PURCHASER:
	
	RVL 1 LLC
		
	By	 	 /s/ Robert V. LaPenta

		 	Name:	 	Robert V. LaPenta
		 	Title:	 	Chief Executive Officer

 [Signature Page to Investment Agreement]Transition, Separation and General Release Agreement

 Exhibit 10.2 
 Execution Copy 
 TRANSITION, SEPARATION AND GENERAL RELEASE AGREEMENT

 THIS TRANSITION, SEPARATION AND GENERAL RELEASE AGREEMENT (this “Separation Agreement”) dated as of
February 16, 2013 is entered into between GARY R. LANGFORD (“Employee”) and REVOLUTION LIGHTING TECHNOLOGIES, INC., a Delaware corporation (“Employer”). Employer, together with its past, present and
future direct and indirect parent organizations, subsidiaries, affiliated entities, related companies and divisions and each of their respective past, present and future officers, directors, employees, shareholders, trustees, members, partners,
attorneys and agents (in each case, individually and in their official capacities), and each of their respective employee benefit plans (and such plans’ fiduciaries, agents, administrators and insurers, in their individual and their official
capacities), as well as any predecessors, future successors or assigns or estates of any of the foregoing, is collectively referred to in this Separation Agreement as the “Released Parties.” 

RECITALS: 
 A.
Employer and Employee entered into an employment offer letter agreement dated December 30, 2008 (the “Employment Offer Letter”) and a confidentiality and noncompetition agreement dated as of January 5, 2009 (the
“Covenants Agreement”); and 
 B. Employer and Employee have mutually agreed to transition Employee’s
employment with Employer and terminate the Employment Offer Letter and Employee’s employment with Employer, effective as of the Separation Date (as defined below); and 
 C. Employer and Employee desire to enter into this Separation Agreement to set forth the terms of their respective rights and obligations with respect to the termination of the Employment Offer Letter and
Employee’s employment with Employer. 
 In consideration of the foregoing premises, the mutual covenants and agreements
contained herein, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Transition; Termination of Employment Offer Letter; Separation of Employment. 

(A) Effective as of the date of this Separation Agreement (the “Transition Date”) until the close of business on
April 1, 2013 (the “Separation Date”), Employee shall transition from his position as Chief Financial Officer of Employer and be employed as an officer of Employer in the position of Vice President of Finance of Employer.
Through the Separation Date (the “Transition Period”), Employer shall continue to pay Employee the base salary, reimbursable business expenses and all employee benefits provided to Employee on the Transition Date in accordance with
Employer’s standard practices. During the Transition Period, nothing in this Separation Agreement shall reduce or eliminate any compensation or benefits that Employee was receiving on the Transition Date. During the Transition Period, Employee
may only be terminated by Employer for Cause (as defined below). For purposes of this Separation 

 
Agreement, “Cause” means only that Employee is convicted (or enters into a plea bargain admitting criminal guilt) in any criminal proceeding of a felony directly related to the
performance of his duties for Employer and resulting in material harm to Employer. Nothing in this Separation Agreement shall prevent Employer from pursuing prosecution against Employee for any theft from Employer. 

(B) Effective as of the close of business on the Separation Date, Employee’s employment with Employer will automatically be
terminated by mutual agreement between Employer and Employee. Accordingly, Employee acknowledges and understands that the Employment Offer Letter and his employment with Employer under the Employment Offer Letter or otherwise will terminate at the
close of business on the Separation Date and that, unless Employer and Employee otherwise agree in writing, his last day of employment with Employer pursuant to the Employment Offer Letter or otherwise will be the Separation Date. Effective as of
the Separation Date, Employee shall be deemed to have resigned from all positions that Employee held as an officer, director and/or member of any committee of Employer and of each of Employer’s subsidiaries; provided, however, Employee
agrees to take all actions that are deemed reasonably necessary by Employer to effectuate or evidence such resignations. Employee further acknowledges that, except as otherwise set forth in this Separation Agreement, Employee has received all
compensation and benefits to which Employee is entitled as a result of the Employment Offer Letter, the termination of the Employment Offer Letter or otherwise as a result of Employee’s employment with Employer and/or Employee’s separation
therefrom. Employee understands that, except as otherwise provided in this Separation Agreement, Employee is entitled to nothing further from the Released Parties, including reinstatement by Employer. 

2. Mutual General Release. By not later than the Separation Date, Employee and Employer shall execute and deliver to each other the Mutual Release
Agreement in form and substance identical to Exhibit A attached hereto and made a part hereof (the “Mutual Release”). 

3. Representations; Covenant Not to Sue. Employee hereby represents and warrants that (A) Employee has not filed, caused or permitted to be
filed any pending proceeding (nor has Employee lodged a complaint with any governmental or quasi-governmental authority) against any of the Released Parties, nor has Employee agreed to do any of the foregoing, (B) Employee has not assigned,
transferred, sold, encumbered, pledged, hypothecated, mortgaged, distributed, or otherwise disposed of or conveyed to any third party any right or Claim (as defined in the Mutual Release) against any of the Released Parties which will be released by
Employee in the Mutual Release, and (C) Employee has not directly or indirectly assisted any third party in filing, causing or assisting to be filed, any Claim against any of the Released Parties. Except as set forth in Section 14 below,
Employee covenants and agrees that Employee shall not encourage or solicit or voluntarily assist or participate in any way in the filing, reporting or prosecution by himself or any third party of a proceeding or Claim against any of the Released
Parties based upon or relating to any Claim which will be released by Employee in the Mutual Release. 
 4. [Intentionally Omitted] 

  
 2 

 5. Compensation and Expense Reimbursement; Equity Compensation. 

(A) The parties agree that Employee shall continue to receive his current base salary, reimbursable expenses and all employee benefits
which he is currently receiving through the Separation Date in accordance with Employer’s standard practices. Employer’s obligations under this Section 5(A) are not contingent upon Employee’s execution, delivery and
non-revocation of this Separation Agreement or the Mutual Release. 
 (B) Subject to the reasonably satisfactory completion of
the Transitional Duties (as defined below) on or prior to the Separation Date, Employer shall pay Employee a bonus (the “Bonus”) in the aggregate amount of $30,000 (less applicable withholdings and customary payroll deductions,
excluding 401(k) contributions), which Bonus shall be paid on the later of: (i) the Separation Date (or as soon thereafter as administratively practicable); and (ii) the next regular pay date following the 8th day after
Employee’s execution and delivery of the Mutual Release to Employer. The “Transitional Duties” shall include support in connection with (a) the completion of the audit of Employer’s financial statements for the fiscal
year ended December 31, 2012, (b) the completion of pro forma financial statements reflecting the acquisition of Seesmart Technologies, Inc. (subject to the prior completion of the audited financial statements of Seesmart Technologies,
Inc.), (c) the filing of Employer’s Annual Report on Form 10-K with the Securities and Exchange Commissions (“SEC”), (d) the filing of Employer’s Information Statement on Schedule 14C for its 2013 Annual Meeting
with the SEC and (e) cooperation in connection with the relocation of Employer’s corporate headquarters and books and records to Stamford, Connecticut, as well as such other responsibilities as may be reasonably requested by the Board of
Directors or the President of Employer. 
 (C) Employee will receive his final pay check on the next regular pay date following
the Separation Date (the “Next Pay Date”). The final pay check included, or will include, payment (less applicable withholdings and customary payroll deductions) for all earned, but unpaid, salary through and including the
Separation Date (i.e., salary earned, but not yet paid, through and including the Separation Date) and payment (less applicable withholdings and customary payroll deductions) for Employee’s unused vacation, sick and personal days.
Employer will reimburse Employee for any unreimbursed business expenses properly incurred by Employee prior to the Separation Date in accordance with Employer’s expense reimbursement policies and/or practices. Employee will timely submit all
such requests in accordance with Employer’s expense reimbursement policies and/or practices, and Employer will process such requests in a manner consistent with policies/practices in effect immediately prior to the Separation Date.
Employer’s obligations under this Section 5(C) are not contingent upon Employee’s execution, delivery and non-revocation of this Separation Agreement or the Mutual Release. 

(D) Employee understands and agrees that, in accordance with the terms of Employer’s 2003 Stock Incentive Plan (as amended, the
“Plan”) and the corresponding stock option agreements, Employee has no rights with respect to options to purchase shares of Employer’s common stock that are unvested as of the Separation Date and, all other options (to the
extent exercisable as of the Separation Date) shall be exercisable for the period following the Separation Date set forth in the applicable stock option agreement (but in no event beyond the term of the Option) and shall thereupon terminate.

  
 3 

 6. Compensation upon Separation. In consideration of Employee’s execution, delivery and
non-revocation of this Separation Agreement and the Mutual Release: 
 (A) Employer shall pay Employee a separation payment (the
“Separation Payment”) in the aggregate amount of $183,750 (less applicable withholdings and other customary payroll deductions, excluding 401(k) contributions). The Separation Payment shall be payable in a lump sum on the
later of: (i) the Separation Date (or as soon thereafter as is administratively practicable); and (ii) the next regular pay date following the 8th day after Employee’s execution and delivery of the Mutual Release to
Employer; and 
 (B) if Employee timely elects COBRA coverage for Employee and his dependents, Employer shall waive
Employee’s healthcare continuation payments under COBRA during the twelve (12) month period immediately following the Separation Date (the “COBRA Assistance”), unless Employee sooner become eligible to obtain alternate
healthcare coverage from a new employer, in which case Employer’s obligation to provide the COBRA Assistance shall cease. Employee understands and agrees that he is obligated to immediately inform Employer if he becomes eligible to obtain
alternate healthcare coverage from a new employer prior to the twelve (12) month anniversary of the Separation Date and further understands that if Employee wishes to continue to obtain COBRA coverage after the twelve (12) month
anniversary of the Separation Date, Employee must pay all costs and fees for such additional coverage in accordance with COBRA. 
 As material
conditions to Employee’s receipt of the Bonus, the Separation Payment, the COBRA Assistance and the Covenants Modification set forth in Sections 5(B), 6(A), 6(B) and 7 of this Separation Agreement, respectively, Employee shall: (i) execute
and deliver to Employer the Mutual Release by not later than the Separation Date; and (ii) not revoke the Mutual Release. For clarification, as a condition to receipt of the Bonus, Employee also must complete the Transitional Duties (to the
reasonable satisfaction of Employer) on or prior to the Separation Date. 
 Employee acknowledges that Employee is not entitled to any
post-termination salary continuation payments pursuant to the Employment Offer Letter. Each of Employer and Employee acknowledge that nothing in this Separation Agreement or the Mutual Release shall be deemed to be an admission of liability on the
part of Employee or any of the Released Parties. Employee agrees that, except as specifically set forth in this Separation Agreement, Employee will not seek anything further from any of the Released Parties. 

7. Surviving Covenants Agreement Provisions. Employee understands and agrees that, notwithstanding the termination of the Employment Offer Letter
and Employee’s employment with Employer, Employee’s obligations pursuant to the Covenants Agreement shall survive such termination and remain in full force and effect as set forth therein; provided, however, as additional
consideration for Employee’s execution, delivery and non-revocation of this Separation Agreement and the Mutual Release, Sections 2(c) and 2(d)(i) of the Covenants Agreement are hereby modified such that Employee’s obligation to comply
with Sections 2(c) and 2(d)(i) of the Covenants Agreement shall expire on the Separation Date and, notwithstanding anything to the contrary contained in Section 2 of the Covenants Agreement, it is understood that (x) Section 2(h) is
deleted in its entirety, (y) the placement of general advertisements that may be 

  
 4 

 
targeted to a particular geographic or technical area but which are not targeted directly or indirectly towards any employees, officers, agents or representatives of Employer (or any successor
corporation into which Employer may be merged or consolidated) shall not be deemed a breach of Employee’s obligations pursuant to Section 2(d)(ii) of the Covenants Agreement and (z) the employment or engagement of any person or entity
by an entity that employs Employee, but is not controlled by Employee, and whom Employee did not encourage, solicit, or induce or in any manner attempt to encourage, solicit, or induce to terminate his or her employment or relationship with Employer
shall not be deemed a breach of Employee’s obligations pursuant to Section 2(d)(ii) of the Covenants Agreement (the “Covenants Modification”). The Covenants Agreement, as amended by the Covenants Modification, shall be
referred to in this Separation Agreement as the “Surviving Covenants Agreement Provisions.” Employee represents and warrants that he has, at all times, been in compliance with his obligations under the Surviving Covenants Agreement
Provisions. 
 8. Who is Bound. Employer and Employee are bound by this Separation Agreement. Anyone who succeeds to Employee’s
rights and responsibilities, such as the executors of Employee’s estate, is bound and anyone who succeeds to Employer’s rights and responsibilities, such as its successors and assigns, is also bound. 

9. Consulting Services. During the period beginning on April 2, 2013 and ending on April 30, 2013 (the “Consulting
Period”), Employee shall make himself reasonably available to Employer, via e-mail, telephone and/or in person at mutually acceptable times, to provide additional services with respect to the Transitional Duties and/or consult with Employer
with respect to business issues and other matters (the “Consulting Services”). Employee will be compensated for the time he actually spends (if any) providing requested Consulting Services (if any) at an hourly rate of $150.00
(pro-rated for partial hours) (the “Consulting Fees”). Employee shall submit weekly invoices to Employer for any Consulting Fees earned during the Consulting Period, which invoice shall set forth the dates and hours that Employee
actually provided Consulting Services at the request of an authorized officer of Employer and the total Consulting Fees claimed for such week. Employer shall pay any Consulting Fees earned by Employee within ten (10) days of the date of receipt
by Employer of Employee’s invoice therefor. Employee and Employer agree that in furnishing services during the Consulting Period, Employee will be acting as an independent contractor and, accordingly, Employee will have no authority to act on
behalf of Employer (or any of its affiliates) or bind Employer (or any of its affiliates). During the Consulting Period, Employee will not be considered to have employee status for federal or state tax purposes, for purposes of employee benefit
plans or other benefits applicable to Employer’s employees generally or for any other purposes. During the Consulting Period, Employer shall not pay any contributions to Social Security, unemployment insurance, federal or state withholding
taxes, or provide any other contributions or benefits which might be expected in an employer-employee relationship, and Employee expressly waives any right to such participation or coverage. Employee agrees that Employee shall make such
contributions and pay applicable taxes, and hereby agrees to indemnify and hold harmless the Released Parties from and against any costs, fees, damages or penalties assessed against any of the Released Parties by virtue of Employee’s failure to
make such contributions or payments. The Consulting Period may be extended by mutual agreement of Employee and Employer. Employee also understands and agrees that the Consulting Services to be provided by Employee pursuant to this Section 9
shall be provided on an as-needed basis and that Employer, in its sole discretion, shall determine its need, if any, for the Consulting Services. 

  
 5 

 10. Cooperation With Investigations/Litigation. Employee agrees, upon Employer’s request and for
a reasonable period following the Separation Date, to reasonably cooperate in any Employer investigation, litigation, arbitration, or regulatory proceeding regarding events that occurred during Employee’s tenure with Employer. Employee will
make himself reasonably available to consult with Employer’s counsel, to provide information, and to appear to give testimony. Employer will, to the extent permitted by law and applicable court rules, reimburse Employee for reasonable
out-of-pocket expenses (including, without limitation, reasonable attorneys’ fees and costs) Employee incurs in extending such cooperation, so long as Employee provides advance written notice of Employee’s request for reimbursement and
provides reasonably satisfactory documentation of the expenses. 
 11. Company Property. Without limitation of Employee’s
obligations pursuant to the Surviving Covenants Agreement Provisions, Employee agrees that on or prior to the Separation Date, Employee shall return to Employer all of Employer’s and its affiliates’ property in Employee’s possession,
custody and/or control, including, but not limited to, all equipment, vehicles, computers, personal digital assistants, pass codes, keys, swipe cards, credit cards, documents or other materials, in whatever form or format, that Employee received,
prepared, or helped prepare. Employee shall not retain any copies, duplicates, reproductions, computer disks, or excerpts thereof of Employer’s or its affiliates’ documents. 
 12. Remedies. For a period of three (3) years after the Separation Date, if Employee (a) breaches (i) any term or condition of the Surviving Covenants Agreement Provisions,
(ii) his obligations pursuant to Sections 2, 3, 7 or 9 of this Separation Agreement, (iii) his obligations pursuant to Section 2 of the Mutual Release, or (iv) if such breach causes or is reasonably likely to cause material harm
to Employer, breaches any other provision of this Separation Agreement or the Mutual Release, or (b) any representation made by Employee in this Separation Agreement or the Mutual Release was materially false when made, it shall constitute a
material breach of this Separation Agreement and, in addition to and not instead of the Released Parties’ other remedies hereunder, under the Surviving Covenants Agreement Provisions or otherwise at law or in equity, Employee shall be required
to, within thirty (30) days following written notice from Employer, return the Separation Payment paid by Employer under Section 6(A) of this Separation Agreement, less 10% of the Separation Payment paid by Employer under Section 6(A)
of this Separation Agreement. Employee agrees that if Employee is required to return the Separation Payment, this Separation Agreement, the Mutual Release and the Surviving Covenants Agreement Provisions shall continue to be binding on Employee and
the Released Parties shall be entitled to enforce the provisions of this Separation Agreement, the Mutual Release and the Surviving Covenants Agreement Provisions as if the Separation Payment had not been repaid to Employer and this Separation
Agreement also shall continue to be binding upon Employer; provided, however, Employer shall have no further payment obligations to Employee under Section 6(A) of this Separation Agreement. In the event of any litigation or other
proceeding to enforce the terms of this Separation Agreement, the Mutual Release and/or the Surviving Covenants Agreement Provisions, whether initiated by Employee or Employer, the prevailing party shall (unless otherwise provided by law) be
entitled to recover its reasonable attorneys’ fees and costs, expert witness fees and costs, and court costs/forum fees from the other 

  
 6 

 
party; provided, however, Employee shall have no obligation to pay such attorneys’ fees and other costs associated with enforcing this Separation Agreement, the Mutual Release and/or
the Surviving Covenants Agreement Provisions if Employee were to challenge the ADEA (as defined in the Mutual Release) waiver only. 
 13.
Construction of Agreement. In the event that one or more of the provisions contained in this Separation Agreement, the Mutual Release or the Surviving Covenants Agreement Provisions shall for any reason be held unenforceable in any respect
under the law of any state of the United States or the United States, such unenforceability shall not affect any other provision of this Separation Agreement, the Mutual Release or the Surviving Covenants Agreement Provisions but this Separation
Agreement, the Mutual Release and the Surviving Covenants Agreement Provisions shall then be construed as if such unenforceable provision or provisions had never been contained herein or therein; provided, however, that if any court were to
find that the waiver and release of Claims set forth in Section 2 of the Mutual Release is unlawful or unenforceable, or was not entered into knowingly or voluntarily, Employee agrees to execute a waiver and release of claims in a form
satisfactory to Employer that is lawful and enforceable. If it is ever held that any restriction hereunder, under the Mutual Release or the Surviving Covenants Agreement Provisions is too broad to permit enforcement of such restriction to its
fullest extent, such restriction shall be enforced to the maximum extent permitted by applicable law. This Separation Agreement, the Mutual Release, the Surviving Covenants Agreement Provisions and any and all matters arising directly or indirectly
herefrom or therefrom shall be governed under the laws of the State of North Carolina without reference to choice of law rules. Employer and Employee consent to the sole jurisdiction of the federal and state courts of North Carolina. EMPLOYER AND
EMPLOYEE HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY IN ANY ACTION CONCERNING THIS SEPARATION AGREEMENT, THE MUTUAL RELEASE OR ANY AND ALL MATTERS ARISING DIRECTLY OR INDIRECTLY HEREFROM, AND REPRESENT THAT THEY HAVE CONSULTED WITH COUNSEL
OF THEIR CHOICE OR HAVE CHOSEN VOLUNTARILY NOT TO DO SO SPECIFICALLY WITH RESPECT TO THIS WAIVER. 
 14. Acknowledgments. Employer
and Employee acknowledge and agree that: 
 (A) By entering into this Separation Agreement, Employee does not waive any rights
or Claims (including, without limitation, Claims arising under ADEA) that may arise after the date of Employee’s execution and delivery of this Separation Agreement. By entering into this Separation Agreement, Employer also does not waive any
rights or claims that may arise after the date of Employer’s execution and delivery of this Separation Agreement; 
 (B)
This Separation Agreement shall not affect the rights and responsibilities of the Equal Employment Opportunity Commission (the “EEOC”) or similar federal or state agency to enforce ADEA or other laws, and further acknowledge and
agree that this Separation Agreement shall not be used to justify interfering with Employee’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC or similar federal or state agency.
Accordingly, nothing in this Separation Agreement shall preclude Employee from filing a charge with, or participating in any manner in an investigation, hearing or proceeding conducted by, the EEOC or similar federal or state agency, but Employee
hereby waives any and all rights to recover under, or by virtue of, any such investigation, hearing or proceeding; 

  
 7 

 (C) Notwithstanding anything set forth in this Separation Agreement to the contrary, nothing
in this Separation Agreement shall affect or be used to interfere with Employee’s protected right to test in any court, under the Older Workers’ Benefit Protection Act, or like statute or regulation, the validity of the waiver of
Employee’s rights under ADEA set forth in the Mutual Release; and 
 (D) Nothing in this Separation Agreement shall be
deemed a waiver or release of, or preclude Employee from exercising, Employee’s rights, if any (i) under Section 601-608 of the Employee Retirement Income Security Act of 1974, as amended, popularly known as COBRA,
(ii) Employer’s 401(k) plan, or (iii) with respect to vested stock options, if any, in Employer, subject to the terms of Plan and the corresponding stock option agreements. 
 15. Opportunity For Review. 
 (A) Employee is hereby advised and encouraged
by Employer to consult with his own independent counsel before signing this Agreement. Employee represents and warrants that Employee (i) has had sufficient opportunity to consider this Separation Agreement, (ii) has read this Separation
Agreement, (iii) understands all the terms and conditions hereof, (iv) is not incompetent or had a guardian, conservator or trustee appointed for Employee, (v) has entered into this Separation Agreement of Employee’s own free
will and volition, (vi) has duly executed and delivered this Separation Agreement, (vii) has been advised and encouraged by Employer to consult with Employee’s own independent counsel before signing this Separation Agreement
(viii) has had the opportunity to review this Separation Agreement with counsel of his choice or has chosen voluntarily not to do so, (ix) understands that Employee has been given twenty-one (21) days to review this Separation
Agreement before signing this Separation Agreement and understands that he is free to use as much or as little of the 21-day period as he wishes or considers necessary before deciding to sign this Separation Agreement and (x) understands that
this Separation Agreement is valid, binding, and enforceable against the parties hereto in accordance with its terms. 
 (B) This Separation Agreement shall be effective and enforceable on the eighth (8th) day after execution and delivery to Employer (c/o Charles Schafer) by Employee. The parties hereto understand and
agree that Employee may revoke this Separation Agreement after having executed and delivered it to Employer (c/o Charles Schafer), in writing, provided such writing is received by Employer no later than 11:59 p.m. on the seventh (7th) day after Employee’s execution and delivery of this
Separation Agreement to Employer. If Employee revokes this Separation Agreement, it shall not be effective or enforceable, Employee shall not be entitled to receive the Bonus, the Separation Payment or the Covenants Modification, and the Separation
Date shall be unaltered. 
 16. Section 409A 
 (A) This Separation Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the

  
 8 

 
regulations promulgated thereunder (“Section 409A”). To the extent that any provision in this Separation Agreement is ambiguous as to its compliance with Section 409A, the
provision shall be read in such a manner so that no payments due under this Separation Agreement shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code. For purposes of Section 409A, each payment
made under this Separation Agreement shall be treated as a separate payment. In no event may Employee, directly or indirectly, designate the calendar year of payment. Employee understands that any tax liability incurred by Employee under
Section 409A is solely the responsibility of Employee. 
 (B) All reimbursements, if any, provided under this Separation
Agreement shall be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Employee’s lifetime (or during a shorter
period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an
eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

(C) This Separation Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), and shall be interpreted and construed consistently with such intent. The payments to Employee pursuant to this Separation Agreement are also intended to be exempt from Section 409A of the Code to the
maximum extent possible, under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4). In the event the terms of this Separation
Agreement would subject Employee to taxes or penalties under Section 409A of the Code (“409A Penalties”), Employer and Employee shall cooperate diligently to amend the terms of this Separation Agreement to avoid such 409A
Penalties, to the extent possible; provided that in no event shall Employer be responsible for any 409A Penalties that arise in connection with any amounts payable under this Separation Agreement. 

17. Indemnification. The agreements and obligations of Employer (including, without limitation, Employer’s obligations pertaining to
officers’ and directors’ or similar liability insurance) set forth in the indemnification agreement between Employer and Employee dated September 25, 2012 (the “Indemnification Agreement”) shall survive the
termination of Employee’s employment with Employer in accordance with the terms set forth in Article II thereof. 
 18. Mitigation.
Employee shall not be required to mitigate the amount of any payment provided for in this Separation Agreement by seeking other employment or otherwise. Employer shall not be entitled to set off against the amounts payable to Employee under this
Separation Agreement any amounts earned by Employee in other employment after termination of his employment with Employer, or any amounts which might have been earned by Employee in other employment had he sought such other employment. 

  
 9 

 19. Amendment; Entire Agreement. The provisions of this Separation Agreement may be amended, waived
or canceled only by mutual agreement of the parties in writing. Except as otherwise noted herein this Separation Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior and
contemporaneous agreements, if any, between the parties relating to the subject matter hereof. 
 20. Legal Fees. Employer shall
reimburse the Employee’s reasonable legal fees to negotiate and prepare this Separation Agreement and the Mutual Release, not to exceed $6,500.00. 
 21. Company’s Successors. Employer will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of Employer, to expressly assume and agree to perform Employer’s obligations under this Separation Agreement in the same manner and to the same extent that Employer would be required to perform if no such succession had taken place.
Failure of Employer to obtain such agreement prior to the effectiveness of any such succession shall be a material breach of this Separation Agreement. 
 22. Notices. Notices and all other communications provided for in this Separation Agreement shall be in writing and shall be deemed to have been duly given when personally delivered, or five
(5) days after deposit with postal authorities transmitted by United States registered or certified mail, return receipt requested, postage prepaid, or on the next business day after dispatch, if sent by nationally recognized, overnight courier
service guaranteeing next business day delivery addressed to Employee at 627 Lake Drive, Salisbury, North Carolina 28144 and in the case of Employer at 124 Floyd Smith Drive, Suite 300, Charlotte, North Carolina 28262, or to such other address as
either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
 23. Headings. All captions and section headings used in this Separation Agreement are for convenient reference only and do not form a part of this Separation Agreement. 

24. Counterparts. This Separation Agreement may be signed in counterparts, each of which shall be deemed an original but all of which shall be
deemed to constitute a single instrument. The parties agree that signatures delivered via facsimile, electronic mail (including pdf) or other transmission method shall be deemed to have been duly and validly delivered, are true and valid signatures
for all purposes hereunder and shall bind the parties to the same extent as that of original signatures. 
 [signature page
follows] 

  
 10 

 Agreed to and accepted on this 16 day of February, 2013. 

 

					
	Witness:	 		 	EMPLOYEE:
			
	 /s/ Elizabeth Catalano
	 		 	 /s/ Gary R. Langford

		 		 	Gary R. Langford

 Agreed to and accepted on this 19 day of February, 2013. 

 

			
	EMPLOYER:
	
	REVOLUTION LIGHTING TECHNOLOGIES, INC.
		
	By:	 	 /s/ Charles Schafer

		 	Charles Schafer, President

  
 11 

 Execution Copy 
 EXHIBIT A 
 Form of Mutual General Release Agreement 

 
  
 THIS MUTUAL GENERAL RELEASE AGREEMENT (this “Release”) dated as of
                    , 2013 is entered into between GARY R. LANGFORD (“Employee”) and REVOLUTION LIGHTING TECHNOLOGIES,
INC., a Delaware corporation (“Employer”). Employer, together with its past, present and future direct and indirect parent organizations, subsidiaries, affiliated entities, related companies and divisions and each of their
respective past, present and future officers, directors, employees, shareholders, trustees, members, partners, attorneys and agents (in each case, individually and in their official capacities), and each of their respective employee benefit plans
(and such plans’ fiduciaries, agents, administrators and insurers, in their individual and their official capacities), as well as any predecessors, future successors or assigns or estates of any of the foregoing, is collectively referred to in
this Release as the “Released Parties.” 
 RECITALS: 

A. Employer and Employee entered into that certain Transition, Separation and General Release Agreement dated as of
February     , 2013 (the “Separation Agreement”) by which Employee and Employer mutually acknowledged and agreed that Employee’s employment with Employer will terminate effective April 1, 2013 (the
“Separation Date”); 
 B. Employer and Employee agreed in the Separation Agreement to execute and deliver to
each other this Release on or prior to the Separation Date; and 
 C. Capitalized terms used but not defined in this Release
shall have the meaning set forth in the Separation Agreement. 
 In consideration of the foregoing premises, the mutual
covenants and agreements contained herein, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Employee General Release of the Released Parties. In consideration of the promises and covenants made in the Separation Agreement, including
but not limited to, the Bonus set forth in Section 5(B) of the Separation Agreement, the Separation Payment set forth in Section 6(A) of the Separation Agreement, the COBRA Assistance set forth in Section 6(B) of the Separation

 
Agreement and the Covenants Modification set forth in Section 7 of the Separation Agreement, Employee (on his own behalf and on behalf of his heirs, executors, administrators, trustees,
legal representatives, successors and assigns) hereby unconditionally and irrevocably releases, waives, discharges and gives up, to the full extent permitted by law, any and all Claims (as defined below) that Employee may have against any of the
Released Parties, arising on or prior to the date of Employee’s execution and delivery of this Release to Employer. “Claims” means any and all actions, charges, controversies, demands, causes of action, suits, rights, and/or
claims whatsoever for debts, sums of money, wages, salary, severance pay, commissions, fees, bonuses, unvested stock options, vacation pay, sick pay, fees and costs, attorneys’ fees, losses, penalties, damages, including damages for pain and
suffering and emotional harm, arising, directly or indirectly, out of any promise, agreement, offer letter (including, without limitation, the Employment Offer Letter), contract, understanding, common law, tort, the laws, statutes, and/or
regulations of the States of North Carolina, Delaware or any other state and the United States, including, but not limited to, federal and state wage and hour laws (to the extent waiveable), federal and state whistleblower laws, Title VII of the
Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, the Lilly Ledbetter Fair Pay Act of 2009, the Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act (excluding
COBRA), the Vietnam Era Veterans Readjustment Assistance Act, the Fair Credit Reporting Act, the Occupational Safety and Health Act, the Age Discrimination in Employment Act (“ADEA”), the Older Workers’ Benefit Protection Act,
the Sarbanes-Oxley Act of 2002, the North Carolina Equal Employment Practices Act, the North Carolina Persons With Disabilities Protection Act, the Delaware Discrimination in Employment Law, and the Delaware Handicapped Persons Employment
Protections Act, as each may be amended from time to time, whether arising directly or indirectly from any act or omission, whether intentional or unintentional; provided, however, “Claims” shall not include (a) claims
to payments, benefits and other rights specifically provided to Employee pursuant to the terms of this Separation Agreement, or (b) with respect to options to purchase shares of Employer’s common stock that have vested as of the Separation
Date, Employee’s rights pursuant to the terms of Employer’s 2003 Stock Incentive Plan (as amended, the “Plan”) and the corresponding stock option agreement(s). This Section 1 releases all Claims including those of
which Employee is not aware and those not mentioned in this Release. Employee specifically releases any and all Claims arising out of the Employment Offer Letter or the termination thereof and Employee’s employment with Employer or termination
therefrom. Employee expressly acknowledges and agrees that, by entering into this Release, Employee is releasing and waiving any and all Claims, including, without limitation, Claims that Employee may have arising under ADEA, which have arisen on or
before the date of Employee’s execution and delivery of this Release to Employer. It is understood and agreed that the foregoing general release of Claims does not waive any of the following rights of Employee: (w) to enforce the terms of
this Release and the Separation Agreement; (x) to pursue Claims that may arise after the date that Employee executes and delivers this Release to Employer; (y) to pursue compulsory counterclaims and defenses directly related to Claims that
Employee has not waived pursuant to this Release; and (z) to pursue Claims which Employee may not release pursuant to applicable laws and regulations. 
 2. Employer General Release. In consideration of the promises and covenants made in the Separation Agreement, including but not limited to, Employee’s release of the Released Parties set forth
in Section 1 above), Employer hereby irrevocably and unconditionally releases and 

  
 2 

 
forever discharges Employee (and his heirs, executors, administrators, trustees, legal representatives, successors and assigns) from any and all claims, suits, debts, actions, causes of action,
rights, judgments, obligations, damages, demands, accountings or liabilities of whatever kind or character whatsoever, in law or in equity, which Employer ever had, now has, or hereafter may have by reason of any matter, cause or thing whatsoever
arising from the beginning of time to the date of Employer’s execution and delivery of this Release to Employee, including, without limitation, all statutory, common law, contractual, constitutional and other claims that Employer may have, or
in the future may possess, arising out of (i) the Employee’s employment relationship with and service as an employee, officer or director of Employer or any subsidiaries or affiliated companies and the termination of such relationship or
service (including, without limitation, the Employment Offer Letter) and (ii) any event, condition, circumstance or obligation that occurred, existed or arose on or prior to the date of Employer’s execution and delivery of this Release to
Employee. This Section 2 releases all such claims, suits, debts, actions, causes of action, rights, judgments, obligations, damages, demands, accountings or liabilities including those of which Employer is not aware and those not mentioned in
this Release. It is agreed and understood that the foregoing general release does not waive any of the following rights of Employer: (w) to enforce the terms of this Release and the Separation Agreement; (x) to pursue claims arising from
actions taken after the date of Employer’s execution and delivery of this Release to Employee; (y) to pursue compulsory counterclaims and defenses directly related to claims that the Employer has not waived pursuant to this Release; and
(z) to pursue claims which Employer may not release pursuant to applicable laws and regulations. 
 3 Acknowledgments. Employer and
Employee acknowledge and agree that: 
 (A) By entering into this Release, Employee does not waive any rights or Claims
(including, without limitation, Claims arising under ADEA) that may arise after Employee’s execution and delivery of this Release to Employer. By entering into this Release, Employer also does not waive any rights or claims that may arise after
the date of Employer’s execution and delivery of this Release to Employee; 
 (B) This Release shall not affect the rights
and responsibilities of the Equal Employment Opportunity Commission (the “EEOC”) or similar federal or state agency to enforce ADEA or other laws, and further acknowledge and agree that this Release shall not be used to justify
interfering with Employee’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC or similar federal or state agency. Accordingly, nothing in this Release shall preclude Employee from filing a
charge with, or participating in any manner in an investigation, hearing or proceeding conducted by, the EEOC or similar federal or state agency, but Employee hereby waives any and all rights to recover under, or by virtue of, any such
investigation, hearing or proceeding; 
 (C) Notwithstanding anything set forth in this Release to the contrary, nothing in this
Release shall affect or be used to interfere with Employee’s protected right to test in any court, under the Older Workers’ Benefit Protection Act, or like statute or regulation, the validity of the waiver of rights under ADEA set forth in
this Release; and 
 (D) Nothing in this Release shall be deemed a waiver or release of, or preclude Employee from exercising,
Employee’s rights, if any (i) under Section 601-608 of the Employee Retirement Income Security Act of 1974, as amended, popularly known as COBRA, (ii) Employer’s 401(k) plan, or (iii) with respect to vested stock
options, if any, in Employer, subject to the terms of Plan and the corresponding stock option agreements. 

  
 3 

 4. Opportunity For Review. 
 (A) Employee is hereby advised and encouraged by Employer to consult with his own independent counsel before signing this Release. Employee represents and warrants that Employee (i) has had
sufficient opportunity to consider this Release, (ii) has read this Release, (iii) understands all the terms and conditions hereof, (iv) is not incompetent or had a guardian, conservator or trustee appointed for Employee, (v) has
entered into this Release of Employee’s own free will and volition, (vi) has duly executed and delivered this Release, (vii) has been advised and encouraged by Employer to consult with Employee’s own independent counsel before
signing this Release, (viii) has had the opportunity to review this Release with counsel of his choice or has chosen voluntarily not to do so, (ix) understands that Employee has been given at least twenty-one (21) days to review this
Release before signing this Release and understands that he is free to use as much or as little of the 21-day period as he wishes or considers necessary before deciding to sign this Release and (x) understands that this Release is valid,
binding, and enforceable against the parties hereto in accordance with its terms. 
 (B) This Release shall be effective and
enforceable on the eighth (8th) day after execution and delivery to Employer (c/o Charles Schafer) by Employee. The parties hereto understand and agree that Employee may revoke this Release after having executed and delivered it to Employer
(c/o Charles Schafer), in writing, provided such writing is received by Employer no later than 11:59 p.m. on the seventh (7th) day after Employee’s execution and delivery of this Release to Employer. If Employee revokes this Release, it
shall not be effective or enforceable and Employee shall not be entitled to receive the Bonus, the Separation Payment, COBRA Assistance or the Covenants Modification as set forth in the Separation Agreement. 

5. Representations; Covenant Not to Sue. Employee hereby represents and warrants that (A) Employee has not filed, caused or permitted to be
filed any pending proceeding (nor has Employee lodged a complaint with any governmental or quasi-governmental authority) against any of the Released Parties, nor has Employee agreed to do any of the foregoing, (B) Employee has not assigned,
transferred, sold, encumbered, pledged, hypothecated, mortgaged, distributed, or otherwise disposed of or conveyed to any third party any right or Claim against any of the Released Parties which has been released in this Release, and
(C) Employee has not directly or indirectly assisted any third party in filing, causing or assisting to be filed, any Claim against any of the Released Parties. Except as set forth in Section 3 above, Employee covenants and agrees that
Employee shall not encourage or solicit or voluntarily assist or participate in any way in the filing, reporting or prosecution by himself or any third party of a proceeding or Claim against any of the Released Parties based upon or relating to any
Claim released by Employee in this Release. 

  
 4 

 6. Amendment; Entire Agreement. The provision of this Release may be amended, waived or canceled only
by mutual agreement of the parties in writing. Except as otherwise noted in the Separation Agreement, this Release and the Separation Agreement constitute the entire agreement between the parties concerning the subject matter hereof and supersede
all prior and contemporaneous agreements, if any, between the parties relating to the subject matter hereof. 
 7. Legal Fees. In any
action or proceeding between Employer and Employee concerning this Release or its enforcement, the prevailing party in such action or proceeding shall be entitled to recover reasonable attorneys’ fees and costs from the non-prevailing party,
whether incurred at trial level or in any appellate proceeding. 
 8. Governing Law. This Release shall be governed and construed in
accordance with the laws of the State of North Carolina. 
 9. Headings. All captions and section headings used in this Release are for
convenient reference only and do not form a part of this Release. 
 10. Counterparts. This Release may be signed in counterparts, each
of which shall be deemed an original but all of which shall be deemed to constitute a single instrument. The parties agree that signatures delivered via facsimile, electronic mail (including pdf) or other transmission method shall be deemed to have
been duly and validly delivered, are true and valid signatures for all purposes hereunder and shall bind the parties to the same extent as that of original signatures. 
 11. Binding Effect. This Release shall be binding upon and inure to the benefit of Employee and Employer, and their respective heirs, representatives, successors and assigns. 

[signature page follows] 

  
 5 

 Agreed to and accepted on this      day of
                    , 2013. 
  

							
	Witness:	 		 	EMPLOYEE:
			
	  
	 		 	  

		 		 	Gary R. Langford

 Agreed to and accepted on this      day of
                    , 2013. 
  

							
		 		 	EMPLOYER:
			
		 		 	REVOLUTION LIGHTING TECHNOLOGIES, INC.
				
		 		 	By:	 	  

		 		 		 	Charles Schafer, President

  
 6

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