Document:

Amendment No. 2 to Loan and Security Agreement

 Exhibit 10.2 
 AMENDMENT NO. 2 TO LOAN AND SECURITY AGREEMENT AND CONSENT 
 as of
May 6, 2011 
 Wells Fargo Bank, National Association, as Agent 
 110 East Broward Boulevard, Suite 1100 
 Ft. Lauderdale, Florida 33301 

Ladies and Gentlemen: 
 WELLS
FARGO BANK, NATIONAL ASSOCIATION, in its capacity as agent (in such capacity, “Agent”) pursuant to the Loan Agreement (as hereinafter defined) acting for and on behalf of the Secured Parties (as defined in the Loan Agreement), and the
parties to the Loan Agreement as lenders (individually, each a “Lender” and collectively, “Lenders”) have entered or are about to enter into financing arrangements pursuant to which Agent and Lenders may make loans and advances
and provide other financial accommodations to LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (“Lighting Science”), as set forth in the Loan and Security Agreement, dated November 22, 2010, by and among Lighting Science,
the other Borrowers (as defined in the Loan Agreement), BIOLOGICAL ILLUMINATION, LLC, a Delaware limited liability company (“Biological”), LSGC, LLC, a Delaware limited liability company (“LSGC”, and together with Biological and
any other Person that at any time after the date hereof becomes a Guarantor, each individually a “Guarantor” and collectively, “Guarantors”), Agent and Lenders, as amended by the Amendment No. 1 to Loan and Security
Agreement, dated as of April 22, 2011, and this Amendment No. 2 to Loan and Security Agreement and Consent (“Amendment No. 2”) (as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed,
restated or replaced, the “Loan Agreement”), and the other agreements, documents and instruments referred to therein or at any time executed and/or delivered in connection therewith or related thereto, including, but not limited to, this
letter agreement (all of the foregoing, together with the Loan Agreement, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being collectively referred to herein as the
“Financing Agreements”). Capitalized terms not otherwise defined herein shall have the respective meanings ascribed thereto in the Loan Agreement. 
 Borrowers and Guarantors have requested that Agent and Lenders (a) consent to the incurrence by Lighting Science of the LSGC Holdings II Indebtedness pursuant to the LSGC Holdings II Documents, and
(b) make certain amendments to the Loan Agreement and other Financing Agreements as set forth herein, which Agent and Lenders are willing to do subject to the terms and conditions set forth in this Amendment No. 2. 

The parties hereto wish to enter into this Amendment No. 2 to evidence and effectuate such amendments and consents and certain other
agreements relating thereto, in each case subject to the terms and conditions and to the extent set forth herein. 
 In
consideration of the premises and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. Interpretation. All capitalized terms used herein shall have the meanings assigned thereto in the Loan Agreement and the other Financing
Agreements, unless otherwise defined herein. 

 2. Amendments to Loan Agreement. 

(a) Additional Definitions. As used herein, the following terms shall have the meanings given to them below, and the Loan
Agreement and the other Financing Agreements are hereby amended to include, in addition and not in limitation, the following definitions: 
 “Amendment No. 2 to Loan Agreement” shall mean Amendment No. 2 to Loan and Security Agreement and Consent, dated as of May 6, 2011, by and among Borrowers, Guarantors, Agent and
the Lenders, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. 
 “LSGC Holdings II” shall mean LSGC Holdings II LLC, a Delaware limited liability company. 
 “LSGC Holdings II Documents” shall mean the Demand Promissory Note, dated May 6, 2011, in the original principal amount of $6,500,000 by Lighting Science in favor of LSGC Holdings II, and
all other agreements, documents and instruments at any time executed and/or delivered to, with or in favor of LSGC Holdings II in connection with the LSGC Holdings II Indebtedness or related thereto, as all of the foregoing now exist or may
hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. 
 “LSGC Holdings II
Indebtedness” shall mean the unsecured Indebtedness owing by Lighting Science to LSGC Holdings II pursuant to the LSGC Holdings II Documents in the aggregate original principal amount of $6,500,000, and all interest, fees, reimbursement
obligations, expenses, indemnification and other obligations with respect thereto. 
 “LSGC Holdings II Subordination
Agreement” shall mean that certain Subordination Agreement, dated as of May 6, 2011, by and among LSGC Holdings II, Lighting Science and Agent. 
 (b) LSGC Holdings II Indebtedness. Section 9.9 of the Loan Agreement is hereby amended by deleting the period at the end of subparagraph (f), replacing it with “; and” and adding the
following new subparagraph (g) at the end thereof as follows: 
 “(g) the LSGC Holdings II Indebtedness, subject to the
terms of the LSGC Holdings II Subordination Agreement.” 

  
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 (c) Advances to Lighting Science Mexico. Section 9.12(b) of the Loan Agreement
is hereby amended and restated in its entirety as follows: 
 “(b) make any payments (whether by dividend, loan or
otherwise) of management, consulting or other fees for management or similar services, or of any Indebtedness owing to any officer, employee, shareholder, director or any other Affiliate of such Borrower or Guarantor, except (i) reasonable
compensation to officers, employees and directors for services rendered to such Borrower or Guarantor in the ordinary course of business; (ii) regularly scheduled payments by Borrowers and Guarantors to Sponsor of the quarterly “Services
Fees” (as defined in the Sponsor Management Agreement as in effect on the date hereof); provided, that, as of the date of any payment of such management fee, and after giving effect thereto, no Default or Event of Default shall exist or have
occurred; (iii) advances or payments to or for the benefit of Lighting Science Mexico in the ordinary course of business for general operating, working capital and other proper corporate or limited liability company purposes (as applicable) of
Lighting Science Mexico in an aggregate amount not to exceed (A) $500,000 in the aggregate from and after the date hereof through and including December 31, 2010, and (B) with respect to the fiscal year ending 2011 and for each fiscal
year thereafter, $500,000 during any fiscal month of Borrowers and Guarantors (or such other amount agreed to by Agent in good faith and in exercise of reasonable (from the perspective of an asset based secured lender) business judgment) during any
fiscal month of Borrowers and Guarantors; (iv) advances or payments to or for the benefit of any Subsidiaries of Borrowers (other than Lighting Science Mexico and any Subsidiary of Borrowers that is a Guarantor) in the ordinary course of
business for general operating, working capital and other proper corporate or limited liability company purposes (as applicable) of such Subsidiaries in an aggregate amount not to exceed (A) with respect to the fiscal years ending 2010 and
2011, $250,000 during any fiscal month of Borrowers and Guarantors, and (B) with respect to the fiscal year ending 2012 and for each fiscal year thereafter, $250,000 (or such other amount agreed to by Agent in good faith and in exercise of
reasonable (from the perspective of an asset based secured lender) business judgment) during any fiscal month of Borrowers and Guarantors; (v) so long as a Borrower or Guarantor is treated as a flow-through entity for tax purposes, such
Borrower or Guarantor may distribute to its parent, to the extent actually payable by such parent to the applicable taxing authority, with respect to each taxable year an aggregate amount equal to the product of (A) the maximum combined federal
and state income tax rate applicable to corporations doing business in the state to which such parent allocates at least ten (10%) percent of its taxable income and which has the highest such rate (or the state in which such parent allocates
more income than any other state, if it doesn’t allocate at least ten (10%) percent of its taxable income to any state) multiplied by (B) the 

  
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excess of the taxable income of such parent for such taxable year over the taxable losses of such parent for all prior taxable years that have not previously been used to reduce taxable income
pursuant to this clause (b)(iii); or (vi) the LSGC Holdings II Indebtedness as permitted under Section 9.9(g) hereof.” 
 3.
Consent. Notwithstanding anything to the contrary contained in the Loan and Security Agreement and the other Financing Agreements, subject to the satisfaction of the terms and conditions of this Amendment No. 2, as a one-time
accommodation to Borrowers and Guarantors, Agent, for itself and on behalf of Secured Parties, hereby consents to the incurrence by Lighting Science of the LSGC Holdings II Indebtedness and to the execution, delivery and performance by Lighting
Science of the LSGC Holdings II Documents upon and subject to the terms and conditions set forth in the Loan Agreement (as amended hereby) and the LSGC Holdings II Subordination Agreement; provided, that, each of the following
conditions shall have been satisfied: 
 (a) on the date hereof, Agent shall have received a true and correct copies of the LSGC
Holdings II Documents, duly authorized executed and delivered by the parties thereto; 
 (b) on the date hereof, Agent shall
have received the Subordination Agreement, duly authorized, executed and delivered by Borrowers, Guarantors, Agent and LSGC Holdings II; and 
 (c) immediately prior, and immediately after giving effect to the transactions contemplated under the LSGC Holdings II Documents, there shall exist no Default or Event of Default. 

4. Representations, Warranties and Covenants. Each Borrower and Guarantor hereby represents, warrants and covenants to Agent and Lenders the
following (which shall survive the execution and delivery of this Amendment No. 2), the truth and accuracy of which are a continuing condition of the making of Loans to Borrowers: 

(a) this Amendment No. 2 and each other agreement or instrument to be executed and delivered by Borrowers and Guarantors in
connection herewith (collectively, together with this Amendment No. 2, the “Amendment Documents”) have been duly authorized, executed and delivered by all necessary corporate or limited liability company action (as applicable) on the
part of Borrowers and Guarantors which are a party hereto and thereto and, if necessary, their respective stockholders, as the case may be, and the agreements and obligations of Borrowers and Guarantors, as the case may be, contained herein and
therein constitute the legal, valid and binding obligations of Borrowers and Guarantors, enforceable against them in accordance with their terms, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws
relating to or affecting generally the enforcement of creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding
therefor may be brought; 
 (b) the execution, delivery and performance of the Amendment Documents (a) are all within
Borrowers’ and Guarantors’ respective corporate or limited liability company powers (as applicable), (b) are not in contravention of law or the terms of Borrowers’ or Guarantors’ certificate or articles of organization or
formation, operating agreement or other organizational documentation, 

  
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or any indenture, agreement or undertaking to which Borrowers or Guarantors are a party or by which Borrowers or Guarantors or their respective property are bound and (c) shall not result in
the creation or imposition of any lien, claim, charge or encumbrance upon any of the Collateral, except in favor of Agent and Lender pursuant to the Loan Agreement and the other Financing Agreements as amended hereby; 

(c) all of the representations and warranties set forth in the Loan Agreement and the other Financing Agreements, each as amended hereby,
are true and correct in all material respects on and as of the date hereof, as if made on the date hereof, except to the extent any such representation or warranty is made as of a specified date, in which case such representation or warranty shall
have been true and correct as of such date; and 
 (d) no Default or Event of Default exists as of the date of this Amendment
No. 2. 
 5. Conditions Precedent. This Amendment No. 2 shall not become effective unless all of the following conditions
precedent have been satisfied in full, as determined by Agent: 
 (a) the receipt by Agent of an original (or faxed or
electronic copy) of this Amendment No. 2, duly authorized, executed and delivered by Borrowers, Guarantors, Agent and Lenders; and 
 (b) immediately prior, and immediately after giving affect to the amendments and agreements set forth herein, there shall exist no Default or Event of Default. 

6. Additional Events of Default. Borrowers and Guarantors acknowledge, confirm and agree that the failure of any Borrower or Guarantor to comply
with the covenants and agreements contained herein shall constitute an Event of Default under the Financing Agreements. 
 7. Effect of this
Amendment. Except as modified pursuant hereto, no other changes or modifications to the Financing Arrangements are intended or implied and in all other respects the Financing Agreements are hereby specifically ratified, restated and confirmed by
all parties hereto as of the effective date hereof. To the extent of conflict between the terms of this Amendment No. 2 and the other Financing Agreements, the terms of this Amendment No. 2 shall control. The Loan Agreement and this
Amendment No. 2 shall be read and construed as one agreement. 
 8. Further Assurances. The parties hereto shall execute and deliver
such additional documents and take such additional action as may be necessary or desirable to effectuate the provisions and purposes of this Amendment No. 2. 
 9. Governing Law. The validity, interpretation and enforcement of this Amendment No. 2 and any dispute arising hereunder, whether in contract, tort, equity or otherwise, shall be governed by
the internal laws of the State of New York, but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of New York. 

10. Binding Effect. This Amendment No. 2 shall be binding upon and inure to the benefit of each of the parties hereto and their respective
successors and assigns. 

  
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 11. Counterparts. This Amendment No. 2 may be executed in any number of counterparts, but all of
such counterparts shall together constitute but one and the same agreement. In making proof of this Amendment No. 2, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of the parties hereto.
Delivery of an executed counterpart of this Amendment No. 2 by telecopier or other electronic method of communication shall have the same force and effect as delivery of an original executed counterpart of this Amendment No. 2. Any party
delivering an executed counterpart of this Amendment No. 2 by telecopier or other electronic method of communication also shall deliver an original executed counterpart of this Amendment No. 2, but the failure to deliver an original
executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment No. 2 as to such party or any other party. 
 [Remainder of Page Intentionally Left Blank] 

  
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 By the signature hereto of their duly authorized officers, the parties hereto agree as set
forth herein. 
  

			
	Very truly yours,
	
	BORROWER:
	
	LIGHTING SCIENCE GROUP CORPORATION
		
	By:	 	 /s/ Gregory T. Kaiser

	Name:	 	Gregory T. Kaiser
	Title:	 	Chief Financial Officer
	
	GUARANTORS:
	
	BIOLOGICAL ILLUMINATION, LLC
		
	By:	 	 /s/ Fred Maxik

	Name:	 	Fred Maxik
	Title:	 	Manager
	
	LSGC, LLC, as Guarantor
		
	By:	 	Lighting Science Group Corporation, its sole member
		
	By:	 	 /s/ Gregory T. Kaiser

	Name:	 	Gregory T. Kaiser
	Title:	 	Assistant Secretary

  

			
	AGREED:
	
	AGENT AND LENDER:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Wanda Alverio

	Name:	 	 Wanda Alverio

	Title:	 	 Vice President

[Signature Page to Amendment No. 2 to LSA and Consent]Subordination Agreement

 Exhibit 10.3 
 SUBORDINATION AGREEMENT 
 Wells Fargo Bank, National Association, as Senior Agent

 110 East Broward Boulevard, Suite 1100 
 Ft. Lauderdale, Florida 33301 
  

	 	Re:	LIGHTING SCIENCE GROUP CORPORATION, ET AL. 

 The total indebtedness of LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (“Lighting Science”), to LSGC HOLDINGS II LLC, a Delaware limited liability company (“Junior
Creditor”), existing on the date hereof is itemized as follows: 
  

					
	 JUNIOR CREDITOR
	 	 PRESENT

UNPAID BALANCE
	 	 COLLATERAL (if

none, state “None”)

			
	 LSGC Holdings II LLC
	 	$6,500,000	 	None

 Lighting Science, the
other Borrowers (as defined in the Loan Agreement (as hereinafter defined)) and Guarantors (as defined below) (Borrowers and Guarantors hereinafter referred to collectively as “Debtors”) have entered into a secured revolving credit
facility with Wells Fargo Bank, National Association, in its capacity as agent (in such capacity, “Senior Agent”) pursuant to the Loan Agreement acting for and on behalf of the Secured Parties (as defined in the Loan Agreement), and the
parties to the Loan Agreement as lenders (individually, each a “Senior Lender” and collectively, “Senior Lenders”; and together with Senior Agent and the other Secured Parties, individually, each a “Senior Creditor” and
collectively, “Senior Creditors”), pursuant to which such Senior Creditors have made, and from time to time may make, loans and provide other financial accommodations to Borrowers that are guaranteed by Guarantors and secured by
substantially all of the assets of Debtors, as more particularly set forth in the Loan and Security Agreement, dated November 22, 2010, by and among Borrowers, Biological Illumination, LLC, a Delaware limited liability company
(“Biological”), LSGC, LLC, a Delaware limited liability company (“LSGC”, and together with Biological and any other Person that at any time after the date hereof becomes a Guarantor, each individually a “Guarantor” and
collectively, “Guarantors”), Senior Agent and Senior Lenders (as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, the “Loan Agreement”), and the other Financing
Agreements (as defined in the Loan Agreement) (the Loan Agreement and the other Financing Agreements hereinafter referred to collectively as “Senior Financing Agreements”). 

Debtors have requested that Senior Agent and Senior Lenders continue to make loans and provide other financial accommodations to or for
the benefit of Borrowers, and Senior Agent and Senior Lenders are willing to do so only upon the execution of this Subordination Agreement (this “Agreement”). Capitalized terms not otherwise defined herein shall have the respective
meanings ascribed thereto in the Loan Agreement. 
 IT IS THEREFORE AGREED: 

1. Junior Creditor hereby subordinates payment of all Borrowers’ and Guarantors’ present and future Obligations (as defined
below) to Junior Creditor (“Junior Debt”) to the full payment of all of Borrowers’ Obligations to Senior Creditors (“Senior Debt”), as more particularly set forth in the Senior

 
Financing Agreements. “Obligations” shall mean all charges, commissions, principal, interest, fees, expenses and all other obligations, liabilities and indebtedness of every kind,
nature and description, direct or indirect, absolute or contingent, matured or unmatured, now existing or hereafter incurred or created, both before and after the commencement of any case under Title 11 of the United States Code, as amended (the
“Bankruptcy Code”), including the payment of interest, fees, costs, expenses and other amounts which would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in
part in such case. 
 2. Debtors and Junior Creditor agree that until all Senior Debt is indefeasibly paid to Senior Creditors:
(a) Debtors shall not, directly or indirectly, make any payment of any Junior Debt and that no collateral or guarantees or proceeds thereof will be enforced or applied to any Junior Debt, except in favor of Senior Creditors as provided herein;
(b) that Junior Creditor will not accept payment of or seek to collect any Junior Debt or join in any petition or otherwise initiate against Debtors any proceeding described in Section 5 hereof; (c) that no collateral will now or
hereafter be granted for any Junior Debt; (d) that Debtors shall not directly or indirectly make any loan, gift or distribution of any assets to Junior Creditor; and (e) that no Junior Debt will be waived, forgiven, cancelled or converted
to or exchanged for capital stock of any Debtor unless Senior Agent shall have received not less than one (1) business days prior written notice of the intention of Debtors and Junior Creditor to agree to any of the foregoing, which notice
shall describe in reasonable detail and specificity the terms and conditions of the proposed transaction, including, without limitation, the date of the proposed transaction and the amount of Junior Debt to be waived, forgiven, cancelled or
converted to or exchanged for capital stock. 
 3. As security for payment of all Senior Debt and for performance by Junior
Creditor of this Agreement, Junior Creditor hereby assigns to Senior Agent, for itself and on behalf of Senior Creditors, all Junior Debt, subject to the rights of Junior Creditor to receive payments in accordance with Section 2 above, and in
furtherance thereof, Junior Creditor is endorsing or assigning and delivering to Senior Agent, for itself and on behalf of Senior Creditors, with this Agreement all evidence of now existing Junior Debt. Debtors and Junior Creditor agree to notify
Senior Agent in writing immediately of the creation of any Junior Debt; and agree to issue and endorse or assign to Senior Agent, for itself and on behalf of Senior Creditors (in the form required by Senior Agent) all evidence of Junior Debt, and to
give Senior Agent such Financing Statements under the Uniform Commercial Code as Senior Agent requires. In the event any endorsement or assignment is omitted, Senior Agent, for itself and on behalf of Senior Creditors, is hereby irrevocably
authorized on behalf of Junior Creditor to make the same. However, no specific endorsement or assignment shall be necessary to subject any Junior Debt to the assignment thereof contained in this Agreement. Debtors and Junior Creditor shall make
appropriate notations in their books to show the subordinate character of all Junior Debt, and will make such books available for Senior Agent, for itself and on behalf of Senior Creditors, to examine during regular business hours, and deliver
Financial Statements to Senior Agent, for itself and on behalf of Senior Creditors, upon request. 
 4. Debtors and Junior
Creditor warrant to Senior Creditors that Junior Creditor is and will be the exclusive legal and beneficial owner of all Junior Debt, and that none of the Junior Debt is or will be subject to any lien, security interest, financing statement,
subordination, assignment or other claim, except in favor of Senior Creditors (and Debtors and Junior Creditor agree to notify Senior Agent immediately in writing of any claims made or adverse occurrence pertaining to any Junior Debt). 

5. At any meeting of creditors of Debtors or in the event of any proceedings, voluntary or involuntary, for the distribution, division or
application of all or part of the assets of Debtors or the 

  
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proceeds thereof, whether such proceedings be for the liquidation, dissolution or winding up of any Debtor or its business, receivership, insolvency or bankruptcy proceedings, such as an
assignment for the benefit of creditors or proceedings by or against any Debtor for relief under any bankruptcy, reorganization or insolvency law or any law relating to the relief of debtors, reorganization, arrangement, composition or extension or
otherwise, if all the Senior Debt has not been paid in full at the time, Senior Agent, for itself and on behalf of Senior Creditors, is hereby irrevocably authorized at any such meeting or in any such proceeding: 

(a) To enforce claims comprising any of the Junior Debt either in its own name or the name of Junior Creditor, by proof of debt,
proof of claim, suit or otherwise; 
 (b) To collect any assets of Debtors distributed, divided or applied by way of dividend or
payment, or any securities issued, on account of any of the Junior Debt and apply the same, or the proceeds of any realization upon the same, that Senior Agent, for itself and on behalf of Senior Creditors, in its discretion elects to accept, to any
Senior Debt; 
 (c) To vote claims comprising any of the Junior Debt to accept or reject any plan of partial or complete
liquidation, reorganization, arrangement, composition or extension; and 
 (d) To take generally any action in connection with
any such meeting or proceeding which Junior Creditor might otherwise take. 
 6. Should any payment of any Junior Debt which is
prohibited by this Agreement be received by Junior Creditor, such payment shall be held in trust by Junior Creditor for the benefit of Senior Creditors and shall be delivered forthwith to Senior Agent, for itself and on behalf of Senior Creditors,
for application to Senior Debt, in the form received with any necessary endorsement or assignment. Junior Creditor shall not be subrogated to, or be entitled to any assignment or re-assignment of any Senior Debt or Junior Debt, or of any collateral
for or guarantees or evidences of any Senior Debt or Junior Debt, until all Senior Debt is indefeasibly paid to Senior Creditors. 
 7. Junior Creditor and Debtors each waive notice of acceptance hereof by Senior Creditors, and waive notice of and consent to the creation of any Senior Debt, extensions granted or other action taken by
Senior Creditors in reliance hereon, the taking or releasing of collateral or any obligors or guarantors for the payment of Senior Debt, the releasing of any other subordinating creditor; and Junior Creditor and Debtors each waive demand,
presentment, protest, notice of protest and of default and any and all other notices to which any of them might otherwise be entitled. No failure or delay by Senior Creditors to exercise any right granted herein, or in any other agreement or by law
shall constitute a waiver of such right or of any other right. Debtors and Junior Creditor each agree to execute and deliver to Senior Creditors such additional documents and to take such further action as Senior Creditors may hereafter require.

 8. Any waiver, permit, consent or approval by Senior Creditors of or under any provision, condition or covenant to this
Agreement must be in writing and shall be effective only to the extent it is set forth in writing and as to the specific facts or circumstances covered thereby. Any amendment of this Agreement must be in writing and signed by Senior Creditors.

  
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 9. This Agreement shall be binding upon Junior Creditor and Debtors and their respective
successors and assigns and shall inure to the benefit of Senior Creditors and their successors, participants and assigns. 
 10.
This Agreement shall be applicable both before and after the filing of any petition by or against Debtors under the Bankruptcy Code and all converted or succeeding cases in respect thereof, and all references herein to Debtors shall be deemed to
apply to the trustee for Debtors and Debtors as debtors-in-possession. The relative rights of Senior Creditors in or to any distributions from or in respect of any collateral or proceeds of collateral, shall continue after the filing thereof on the
same basis as prior to the date of the petition, subject to any court order approving the financing of, or use of cash collateral by, Debtors as debtors-in-possession. 
 11. If any Debtors shall become subject to a case under the Bankruptcy Code and if as a debtor-in-possession, any Debtors moves for approval of financing to be provided in good faith by Senior Creditors
(individually and collectively, the “DIP Lender”) under Section 364 of the Bankruptcy Code or the use of cash collateral with the consent of the DIP Lender under Section 363 of the Bankruptcy Code or any similar provisions under
applicable law, Junior Creditor agrees that no objection will be raised by Junior Creditor to any such financing. If any Debtors shall become subject to a case under the Bankruptcy Code, Junior Creditor agrees that Junior Creditor will not provide
to Debtors, as debtors-in-possession, any financing under Section 364(d) of the Bankruptcy Code to the extent that Junior Creditor would, in connection with such financing, be granted a priming or pari passu lien on the pre-petition collateral
of Debtors. For purposes of this Section 11, notice of a proposed financing or use of cash collateral shall be deemed given when given, in the manner prescribed by Section 12 hereof. 

12. All notices, requests and demands to or upon the respective parties hereto shall be in writing and shall be deemed duly given, made
or received: if delivered in person, immediately upon delivery; if by telex, telegram or facsimile transmission, immediately upon sending and upon confirmation of receipt; if by nationally recognized overnight courier service with instructions to
deliver the next Business Day, one (1) Business Day after sending; and if mailed by certified mail, return receipt requested, five (5) days after mailing to the parties at their addresses set forth below (or to such other addresses as the
parties may designate in accordance with the provisions of this Section): 
  

			
	To Senior Agent:	  	Wells Fargo Bank, National Association
		  	110 East Broward Boulevard, Suite 1100
		  	Ft. Lauderdale, Florida 33301
		  	Attention: Portfolio Administrator - Lighting Science
		  	Telephone No.: 954-847-3630
		  	Telecopy No.: 877-489-4711
		
	To Junior Creditor:	  	LSGC Holdings II LLC
		  	99 River Road
		  	Cos Cob, Connecticut 06807
		  	Attention: Daniel Stencel
		  	Telephone No.: 203-869-4400
		  	Telecopy No.: 203-869-6940

  
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	To Debtors:	  	Lighting Science Group Corporation
		  	1227 South Patrick Drive, Building 2A
		  	Satellite Beach, Florida 32937
		  	Attention: Greg Kaiser, CFO
		  	Telephone No.: 321-779-5537
		  	Telecopy No.: 321-779-5521

 Each of the
above parties may change the address(es) to which all notices, requests and other communications are to be sent by giving written notice of such address change to the other party in conformity with this Section 12, but such change shall not be
effective until notice of such change has been received by the other Creditor. 
 13. Any instrument at any time evidencing the
Junior Debt, or any portion thereof, shall be permanently marked on its face with a legend conspicuously indicating that payment thereof is subordinate in right of payment to the Senior Debt and subject to the terms and conditions of this Agreement,
and the original of any such instrument shall be delivered to Senior Agent, for itself and on behalf of Senior Creditors, upon Senior Agent’s request, at any time on or after the occurrence of an event of default under the Loan Agreement. In
the event any legend or endorsement is omitted, Senior Agent, for itself and on behalf of Senior Creditors, or any of its officers or employees, is hereby irrevocably authorized on behalf of Junior Creditor to make the same. No specific legend,
further assignment or endorsement or delivery of notes, guarantees or instruments shall be necessary to subject any Junior Debt to the subordination thereof contained in this Agreement. 

14. This Agreement may be signed in counterparts, each of which shall be an original and all of which taken together constitute one
agreement. In making proof of this Agreement, it shall not be necessary to produce or account for more than one counterpart signed by the party to be charged. Delivery of an executed counterpart of this Agreement by telefacsimile shall have the same
force and effect as the delivery of an original executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile shall also deliver an original executed counterpart, but the failure to do so
shall not affect the validity, enforceability or binding effect of this Agreement. 
 15. The validity, construction and effect
of this Agreement shall be governed by the internal laws of the State of New York, but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State
of New York. 
 16. EACH PARTY HERETO HEREBY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT SITUATED IN
THE STATE OF NEW YORK FOR THE PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY HERETO HEREBY
WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR 

  
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INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. 

17. This written Agreement is intended by the parties as a final expression of their agreement and is intended as a complete statement of
the terms and conditions of their agreement with respect to the subject matter hereof. 
 18. This Agreement is solely for the
benefit of the Creditors and their respective successors, participants and assigns, and no other person shall have any right, benefit, priority or interest under, or because of the existence of, this Agreement. 

19. Each Creditor has the means to, and shall in the future remain, fully informed as to the financial condition and other affairs of
Debtors and no Creditor shall have any obligation or duty to disclose any such information to the other Creditors. Except as expressly set forth in this Agreement, the parties hereto have not otherwise made to each other nor do they hereby make to
each other any warranties, express or implied, nor do they assume any liability to each other with respect to: (a) the enforceability, validity, value or collectability of any of the Senior Debt or the Junior Debt or any guarantee or security
which may have been granted to any of them in connection therewith, (b) Debtorss’ title to or right to transfer any of the collateral, or (c) any other matter except as expressly set forth in this Agreement. 

20. This Agreement is a continuing agreement and shall remain in full force and effect until the indefeasible satisfaction in full of all
Senior Debt and the termination of the financing arrangements among Senior Agent and Debtors. 
 [SIGNATURES APPEAR ON FOLLOWING
PAGE] 

  
 6 

 IN WITNESS WHEREOF, Senior Agent, Junior Creditor and Debtors have executed and delivered
this Agreement as of this 6th day of May, 2011. 
  

			
	SENIOR AGENT:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Wanda Alverio

	Name:	 	 Wanda Alverio

	Title:	 	 Vice President

	
	JUNIOR CREDITOR:
	
	LSGC HOLDINGS II LLC
	
	By: Pegasus Partners IV, L.P., its sole member
	
	By: Pegasus Investors IV, L.P., its general partner
	
	By: Pegasus Investors IV GP, L.L.C., its general partner
		
	By:	 	 /s/ Richard Weinberg

	Name:	 	 Richard Weinberg

	Title:	 	 Vice President

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 
 [Signature Page to Subordination Agreement] 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 

 

			
	GRANTORS:
	
	LIGHTING SCIENCE GROUP CORPORATION
		
	By:	 	 /s/ Gregory T. Kaiser

	Name:	 	 Gregory T. Kaiser

	Title:	 	 CFO

	
	BIOLOGICAL ILLUMINATION, LLC
		
	By:	 	 /s/ Fred Maxik

	Name:	 	 Fred Maxik

	Title:	 	 Manager

	
	LSGC, LLC
	
	By: Lighting Science Group Corporation, its sole member
		
	By:	 	 /s/ Gregory T. Kaiser

	Name:	 	Gregory T. Kaiser
	Title:	 	Assistant Secretary

 [Signature
Page to Subordination Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]