Document:

Photovoltaic Module Supply Agreement

 Exhibit 10.1 
 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION.
“***” ASTERISKS DENOTE SUCH OMISSIONS. 
 PHOTOVOLTAIC MODULE SUPPLY AGREEMENT 
 This Photovoltaic Module Supply Agreement (together with all schedules hereto, the “Agreement”) is made and entered into as of
September 21st, 2009 (the “Effective Date”) by and between:

 ASCENT SOLAR TECHNOLOGIES, INC. (“Ascent”), a company incorporated under the laws of the state of Delaware, and 
 TurtleEnergy LLC, (“Buyer”), a company duly incorporated under the laws of the State of New Jersey. 
 RECITALS 
 A. Ascent is engaged in the business of
manufacturing and selling photovoltaic modules (“PV Modules”). 
 B. Buyer is in the business of designing, manufacturing and selling a
broad range of “sustainable energy” products including those incorporating PV Modules. 
 C. Ascent desires to sell to Buyer, and Buyer desires to
purchase from Ascent, PV Modules on the terms and conditions set forth herein. 
 AGREEMENT 
 NOW THEREFORE, the parties agree as follows: 
 1. Product Sales and
Purchases 
 1.1 The description and specifications for the PV Modules to be sold and purchased under this Agreement are set forth on
the PV Module Specification Sheet(s) attached as Schedule A. Ascent or TurtleEnergy may from time to time modify the description or specifications of the PV Modules, upon ninety (90) days prior written notice to Buyer and vice versa to
manufacturer. 
 1.2 The tentatively projected quantities and prices for the PV Modules to be sold and purchased under this Agreement for the
following five (5) calendar years are set forth on Schedule B.  
 1.3 Buyer shall issue orders (“Orders”) on a
rolling ninety (90) day basis for PV Modules to be supplied. The Order will be deemed accepted by Ascent unless written notice otherwise is provided to Buyer within fifteen (15) days of receipt of the Order. 
 1.4 Ascent shall not assume any obligation under this Agreement to provide quantities in excess of the quantity specified on an accepted Order.

 1.5 In the event of any conflict between the terms of an Order and this Agreement, the terms of this Agreement shall prevail. 

 

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 2. Price; Purchase Orders; Taxes 
 The prices for PV Modules sold under a purchase order(s) “Purchase Order(s)” issued by Buyer shall be on a per-Watt basis and are set forth on Schedule B. In the event of any conflict between the
terms of a Purchase Order and this Agreement, the terms of this Agreement shall prevail. Buyer shall be solely responsible for any taxes applicable to the purchase of PV Modules under this Agreement (excluding Ascent’s income taxes, which shall
be borne solely by Ascent). 
 3. Shipments 
 Unless the parties mutually agree to other shipping terms on the applicable Purchase Order, the parties agree that Ascent shall ship the PV Modules to Buyer from Ascent’s designated manufacturing facilities. 
 4. Packaging and Shipping 
 All PV Modules shall be packaged,
marked, and otherwise prepared in accordance with good commercial practices to reduce the risk of damage and in accordance with all applicable state and local packaging and transportation laws and regulations. An itemized packing list shall
accompany each shipment. Ascent shall bear all costs associated with packaging and storing the PV Modules prior to shipping. Buyer shall bear all costs of shipping the PV Modules. 
 5. Risk of Loss; Title 
 Risk of loss and title to the PV Modules shall pass to Buyer upon delivery to carrier
of Buyer’s choice at Ascent’s manufacturing facilities. The sale of PV Modules is final upon title transfer, and there are no post-sale obligations retained by Ascent other than pursuant to Ascent’s warranty obligations set forth on
Schedule C. Without limiting the generality of the foregoing, Buyer specifically acknowledges that (a) there are no rights of return or refunds regarding the PV Modules, (b) Buyer is solely responsible for providing adequate insurance for
the PV Modules after risk of loss transfers, and (c) Ascent has no obligation for installation or other post-sale obligations relating to the sale of the PV Modules, in each case except as explicitly provided in Ascent’s warranty
obligations set forth on Schedule C. 
 6. Invoicing 
 After each shipment pursuant to this Agreement, Ascent shall send a separate invoice, including item numbers. Subject to the foregoing, Buyer shall pay Ascent all invoiced amounts within thirty (30) calendar days of the shipment date
of the PV Modules from Ascent to Buyer (“Payment Due Date”). Buyer agrees to pay interest on any overdue invoice amounts at a rate of one-and-one-half percent (1.5%) per month or the maximum interest rate permitted by law,
whichever is lower. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 7. Warranties 
 All PV Modules covered by this Agreement will be warranted per the conditions of the relevant Ascent warranty statements set forth on Schedule C. 
 8. Intellectual Property Protections 
 Buyer acknowledges that any and all intellectual property rights in and in relation to
Ascent’s PV Modules, including any customizations thereto, belong exclusively to Ascent and agrees not to challenge or harm in any way such intellectual property rights. 
 9. Confidential or Proprietary Information and Property  
 Both parties shall keep confidential and otherwise
protect from disclosure all information and property obtained from the other party in connection with this Agreement unless otherwise expressly authorized herein or by the non-disclosing party in writing or unless otherwise required by applicable
law, rule or regulation. Each party shall use such information and property, and the features thereof, only in its performance under this Agreement. Upon a party’s request, the other party shall return all such information and property to the
requesting party or make such other disposition thereof as is directed by the requesting party. In all lower tier subcontracts and purchase orders issued by a party and involving subcontractor receipt of such information or property, such party
shall provide the other party hereto the same rights and protections as contained in this Section 9. 
 10. Export Compliance  

It is Ascent’s policy to comply fully with all economic sanctions and trade restrictions promulgated by the United States Government and the EU authorities. Buyer
agrees to comply, in performing this Agreement, with all applicable laws, including, without limitation, all statutory and regulatory requirements under the export administration regulations (15 C.F.R. § 730 et seq.) administered by the U.S.
Department of Commerce; the laws, regulations, and executive orders implemented by the Office of Foreign Assets Control of the U.S. Department of the Treasury; and equivalent laws within the EU community (including, but not limited to, the
Regulation (EC) No. 1334/2000 relating to “the control of exports of dual use items and technology” as well as any subsequent or related regulation). 
 11. Infringement 
 Ascent shall defend, at its own expense, any suit or claim that may be instituted against
Buyer for alleged infringement of patents, trade secrets, copyrights, or other intellectual property rights relating to the PV Modules, and Ascent shall indemnify Buyer for all costs and damages arising out of such alleged infringement, provided
that: (i) Buyer gives Ascent reasonably prompt notice in writing of any such claim or action and permits Ascent, through its counsel of choice, to answer the charge of infringement and control the defense of such action; and (ii) Buyer
provides Ascent information, assistance, and authority (at Ascent’s expense for reasonable out of pocket expenses incurred by Buyer in connection therewith) to enable Ascent to defend such claim or action. Ascent will have no liability under
this Section 11 to the extent that infringement is attributable to (x) Buyer’s design and/or requirements placed upon Ascent or (y) Buyer’s modification or combination of one or more PV Modules with designs not supplied by
Ascent. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 12. Change Orders 
 Neither party may, without the prior written approval of the other party within ninety (90) days prior to the shipping date, by a change order(s) (“Change Order(s)”), suspend performance of a Purchase Order in whole or
in part, make changes in the quantities, shipping dates, method of shipment or packing or time or place of delivery of the PV Modules. Unless otherwise consented to in writing by the other party, any Change Orders shall not affect the obligations of
the party requesting the Change Order to purchase the PV Modules. 
 13. Term; Termination 
 13.1 Term. Unless terminated earlier pursuant to this Section 13, the term of this Agreement shall commence as of the Effective Date and shall
continue through December 31, 2014 (the “Term”). 
 13.2 Termination without Cause. Either party may terminate
this Agreement without cause with ninety (90) days’ written notice to the other party. 
 13.3 Termination for Cause by
Buyer. Buyer may terminate this Agreement for cause upon Ascent’s material breach of this Agreement, which breach remains uncured after ninety (90) days’ written notice to Ascent. 
 13.4 Termination for Cause by Ascent. Ascent may terminate this Agreement for cause: 
 (i) If Buyer materially breaches this Agreement, which breach remains uncured after ninety (90) days’ written notice to Buyer. 
 (ii) If there is a direct or indirect change in control of Buyer, the dissolution or merger (provided that the latter involves a change in control) of
Buyer, or a substantial portion of the assets of Buyer is transferred to another person or entity, provided that such circumstances, in Ascent’s reasonable discretion, prejudice Buyer’s capacity to perform its obligations under this
Agreement. 
 (iii) If Buyer enters into or proposes to enter into any composition or arrangement with its creditors or any procedure is
commenced with a view to the winding up or Buyer is placed into or an order is made for receivership, or if financial difficulties prevent Buyer from normally complying with obligations arising under this Agreement, unless its obligations are
sufficiently guaranteed. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 13.5 Survival. Sections 7 through 24 (except Section 12) shall survive any termination of
this Agreement. 
 14. Waiver 
 14.1 The failure of any party to insist upon the performance of any provision of this Agreement or to exercise any right or privilege granted to such party under this Agreement shall not be construed as waiving such provision or any other
provision of this Agreement, and the same shall continue in full force and effect. 
 14.2 If any provision of this Agreement is found to be
illegal or otherwise unenforceable by any court or other judicial or administrative body, the other provisions of this Agreement shall not be affected thereby, and shall remain in full force and effect. 
 15. Applicable Law 
 The validity, performance, and
construction of this Agreement shall be governed by the laws of the State of Colorado without regard to its conflicts of laws principles. The application of the United Nations Convention on Contracts for the International Sale of Goods is expressly
excluded. 
 16. Jurisdiction and Venue 
 Ascent
and Buyer agree that all actions arising under this Agreement or otherwise as a result of the relationship between Ascent and Buyer must be commenced before the courts of the State of Colorado, Denver County, unless otherwise chosen by Ascent, and
Buyer irrevocably submits to the jurisdiction of these courts, or the other court chosen by Ascent, and waives any objection it might have to either the jurisdiction of or venue in these courts. 
 17. Assignment 
 17.1 Except as provided
herein, no party shall assign this Agreement without the prior written consent of the other party hereto, and any purported assignment without such consent shall be deemed null and void. 
 17.2 Notwithstanding the foregoing, both parties shall be permitted to assign this Agreement in connection with a merger or sale of all or substantially
all of their assets. 
 17.3 Buyer may assign a Purchase Order under this Agreement in favor of a third party before acceptance of the
Purchase Order by Ascent subject to Ascent’s prior written consent and payment by Buyer or the assignee of the price of the PV Modules before shipping. 
 18. Publicity 
 No party shall make or authorize any news release, advertisement, or other disclosure that shall confirm the existence
or convey any aspect of this Agreement without the prior written consent of the other party except as may be required to perform this Agreement or a Purchase Order, or as required by applicable law, rule, or regulation except on a need-to-know basis
for the purpose of evaluating either party in conjunction with a sale or transfer of ownership. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 19. Complete Agreement; Modifications 
 19.1 This Agreement, including all Schedules, Purchase Orders, exhibits, and annexes hereto, contains the complete and entire agreement between the
parties as to the subject matter hereof and replaces and supersedes any prior or contemporaneous communications, representations, or agreements, whether oral or written, with respect to the subject matter of this Agreement. 
 19.2 No modification of the Agreement shall be binding unless it is writing and signed by both parties. 
 20. Force Majeure 
 Notwithstanding anything to the contrary in
this Agreement or any Schedule hereto, no party shall be considered in default of performance under this Agreement or a Purchase Order to the extent that performance of such obligations is delayed or prevented by reasons beyond the reasonable
control of such party, including but not limited to fire, flood, hurricanes, earthquake or similar natural disasters, riot, war, terrorism, radical changes in government import/export regulations, labor strikes or civil strife. 
 21. Notices 
 All notices shall be delivered by fax, registered
letter or courier or hand-delivered to the person below. Notice shall be effective upon receipt. 
  

			
	 To Ascent:
 Attn:
 12300 N. Grant Street
 Thornton, CO 80241-3120
 Phone: (720) 872-5000
 Fax: (720) 872-5077
 E-mail:
  
 Cc:
 Gary Gatchell, CFO
 12300 N. Grant
Street
 Thornton, CO 80241-3120
 Phone: (720) 872-5000

Fax: (720) 872-5077
 E-mail: ggatchell@ascentsolar.com
	 	 To Buyer:
 John Millard
 TurtleEnergy LLC
 1900 Lower Road
 Linden, NJ 07036

  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 22. Limitation of Liability 
 Except as otherwise expressly stated herein and subject to mandatory limitations under applicable law, in no event shall any party hereto be liable to any other party hereto or any third party for any indirect,
consequential, incidental, punitive or special damages whatsoever, without regard to cause or theory of liability (including, without limitation, damages incurred by such other party or such third party for loss of business profits or revenue,
business interruption, loss of business information or other pecuniary loss) arising out of this Agreement. 
 23. Schedules 
 The following Schedules are an integral and essential part of the Agreement: 
  

	 	A:	PV Module Specification Sheet(s) 

  

	 	B:	PV Module Quantities and Pricing 

  

	 	C:	Limited Warranty for PV Modules 

 (signature page
follows) 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date and year first above written.

  

			
	Ascent:
	
	ASCENT SOLAR TECHNOLOGIES, INC.
		
	By:	 	 /s/    Gary Gatchell

	Printed Name: Gary Gatchell
	
	Buyer:
	
	TURTLEENERGY LLC
		
	By:	 	 /s/    John Berry Millard

	Printed Name: John Berry Millard

  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 SCHEDULE A 
 Specification Sheets to be Provided by Ascent Solar 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 SCHEDULE B 
 PV MODULE QUANTITIES AND PRICING 
 Planned Shipments 2010 Single 5 meter *** per watt STC 
  

									
	  	  	 2010 per month

	 Product
	  	 January
	  	 February
	  	 March
	  	 April and Beyond

	 5 meter single wide,
 120 watts STC each
	  	10 KW	  	25 KW	  	50 KW	  	222 KW

 Annual Order 
 Per Month Quantities Double Wide 5 meter 
  

																	
	  	  	 2011
	  	 2012
	  	 2013
	  	 2014

	 Product
	  	 QTY
	  	 Price
	  	 QTY
	  	 Price
	  	 QTY
	  	 Price
	  	 QTY
	  	 Price

	 5 Meter
 double wide
	  	417 KW	  	***	  	833 KW	  	***	  	2,000 KW	  	***	  	2,222 KW	  	***

 Price per Watt is based upon Standard Test Conditions (STC), KW is 1,000 watts STC. Modules certified to IEC 61646
and UL 1703 to 600 volts. First months of 2010 pending certification. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 SCHEDULE C 
 LIMITED WARRANTY FOR PV MODULES 
 1. Limited Product Warranty 
 Ascent Solar Technologies, Inc. (“Ascent”) warrants that its photovoltaic modules (“PV Modules”) sold pursuant to the Photovoltaic
Module Supply Agreement as to which this document serves as Schedule C (the “Agreement”) will be free from material defects in materials and workmanship under normal application, use, installation, operation and service for a period
of five (5) years from the date of sale to the end user customer (“Customer”) that purchases PV Modules from Ascent directly or from an authorized channel partner, installer or original equipment manufacturer. If the PV Modules
do not conform to the foregoing Limited Product Warranty, Ascent will, at its sole option, either repair or replace the PV Modules, or refund a prorated portion of the purchase price paid by the Customer. If replaced or repaired, the replacement or
repaired PV Modules will be covered by this Limited Product Warranty for the remainder of the returned PV Modules’ Limited Product Warranty period. This Limited Product Warranty does not warrant a specific power output, which is exclusively
covered under the Limited Power Output Warranty set forth in Section 2 below. 
 2. Limited Power Output Warranty 
 Ascent additionally warrants that the PV Modules shall (i) during the first twenty (20) years from the date of sale, produce at least eighty percent
(80%) of the minimum power output rating, where the minimum power output rating is the rated power minus the applicable tolerance, as specified in the PV Module Specification Sheet(s) attached as Schedule A to the Agreement. Power output shall
be determined by Ascent and measured under Standard Test Conditions (“STC”) using a method, measurement equipment, and laboratory acceptable to Ascent. This Limited Power Output Warranty applies only to PV Modules installed,
operated, and serviced according to Ascent documentation and only if the lost power is due to a material defect in material or workmanship. If the PV Modules do not conform to the foregoing Limited Power Output Warranty, Ascent will, at its option,
(i) repair or replace the PV Modules, (ii) provide supplemental PV Modules to meet the minimum power output, or (iii) refund a prorated portion of the purchase price commensurate with the lost power, as reasonably determined by
Ascent. 
 3. Limitation of Remedies 
 THE REMEDIES
SET FORTH ABOVE ARE THE EXCLUSIVE REMEDIES FOR ANY BREACH OF WARRANTY BY ASCENT. The sole purpose of these exclusive remedies is to provide for the repair, replacement, or supplementation of PV Modules, or refund of a portion of the applicable
purchase price, in the event of a breach of warranty at Ascent’s option. This exclusive remedy shall not be deemed to have failed its essential purpose so long as Ascent is willing and able to replace or repair the nonconforming PV Modules,
provide supplemental PV Modules, or provide a refund for such PV Modules as described under the terms of the foregoing limited warranties. This warranty is in lieu of all other warranties. Ascent’s failure to enforce any of the terms or
conditions of warranty in this Schedule C will be not construed as a waiver of that provision or any other terms and conditions of these warranties. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 4. Effectivity, Registration, Transfer 
 The warranties in this Schedule C are only effective if the PV Modules were purchased directly from Ascent or from an authorized channel partner, installer or original equipment manufacturer, the PV Modules were
installed in an approved application in accordance with Ascent documentation, and the installation was registered at www.ascentsolar.com. The warranties in this Schedule C are transferable to an assignee only when the PV Modules remain installed in
the original location. Transferred warranties shall remain in effect for the time period remaining in the term of the respective original limited warranties. 
 5. Warranty Exclusions 
 The warranties do not apply to any damage, malfunctions, or failures of PV Modules which, in the judgment of
Ascent, have been subject to: 
 a. misuse, abuse, neglect, alteration, accident, vandalism, or excessive wear and tear; 
 b. improper or inadequate installation, application, maintenance or cleaning, or failure to otherwise use reasonable care in maintaining the PV Modules;

 c. negligence in use, storage, transportation, or handling; 
 d. installations not in conformance with Ascent specifications, installation manuals, operation manuals, and maintenance instructions; 
 e. application to substrates or materials that have not been approved by Ascent; 
 f. damage or corrosion
caused by substrates, roofing materials, or their properties, such as corrosion resistance, thermal expansion and contraction, and water sealing properties; 
 g. lack of compliance with applicable codes; 
 h. repair by anyone other than Ascent or an Ascent-approved
repair technician; 
 i. power failure, power surges, lightning, fire, falling objects, flood, insect or animal damage, or other events or
accidents outside Ascent’s reasonable control; 
 j. altered, removed, or illegible PV Modules serial number(s); 
 k. damage due to water pooling on the PV Modules surface or any evidence thereof; or 
 l. damage or corrosion due to environmental pollution, such as soot, chemical vapors, acid rain, or salt water. 
 The warranties do not cover any transportation costs for return of PV Modules or for reshipment of any repaired PV Modules, costs associated with installation, removal
or reinstallation of PV Modules, or costs associated with any other system components or parts other than the PV Modules. 
 6. Warranty
Limitations 
 EXCEPT AS EXPRESSLY SET FORTH IN THIS SCHEDULE C, ASCENT MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER, WHETHER EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. TO THE 

  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIAL

 CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND 
 EXCHANGE COMMISSION. “***” ASTERISKS DENOTE SUCH OMISSIONS. 
  

 
FULLEST EXTENT PERMITTED BY LAW, UNDER NO CIRCUMSTANCES WILL ASCENT BE LIABLE FOR ANY SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING BUT
NOT LIMITED TO LOSS OF PROFITS, LOSS OF USE, OR LOSS OF REVENUES ARISING DIRECTLY OR INDIRECTLY FROM THE SALE OR USE OF ANY PRODUCTS (INCLUDING PV MODULES), WHETHER SUCH CLAIM IS BASED ON WARRANTY, CONTRACT, NEGLIGENCE, STRICT LIABILITY OR
OTHERWISE. UNDER NO CIRCUMSTANCES SHALL THE LIABILITY OF ASCENT FOR NONCONFORMING PRODUCTS EXCEED THE PURCHASE PRICE PAID TO ASCENT FOR THE PARTICULAR PV PRODUCT INVOLVED. THE RIGHTS AND LIMITATIONS IN THIS DOCUMENT MAY NOT AFFECT LEGAL RIGHTS
EXISTING UNDER MANDATORY APPLICABLE LAWS. 
 7. Return Policy, Contact Information 
 A Customer seeking to make a claim covered by this Schedule C must immediately notify the party who sold the PV Modules, or an authorized Ascent representative, or Ascent
directly at www.ascentsolar.com. Warranty claims must be submitted to Ascent with a description of the claimed defect, the PV Modules’ serial numbers, and evidence indicating the purchase date. Ascent will not accept the return of any PV
Modules unless it has given prior written authorization in the form of a validly issued return material authorization. In the event that a claimed defect is denied and the PV Modules have been shipped to Ascent for evaluation of the claimed defect,
Ascent is not responsible for the packaging and transportation costs, if any, to return the PV Modules. 
  

			
	Ascent Solar Technologies, Inc.	 	PROPRIETARY AND CONFIDENTIALForm of 5.20% Senior Note due 2019

 Exhibit 4.1 
 FORM OF 5.20% SENIOR NOTE DUE 2019 
 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR
ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN. 
 Exelon Generation Company, LLC 
 5.20% Senior Notes due 2019 
  

			
	No.	  	 $

		  	CUSIP No. 30161M AF0

 Exelon Generation Company, LLC, a limited liability company duly organized and subsisting under
the laws of the Commonwealth of Pennsylvania (herein called the “Issuer” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or
registered assigns, the principal sum of              Million Dollars ($            ), and to pay interest thereon from
September 23, 2009 or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 in each year, beginning April 1, 2010 at the rate of 5.20% per
annum, until the principal hereof is paid or made available for payment, provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of 5.20% per annum (to the extent
that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. Interest on this Note shall be computed on the
basis of a 360-day year composed of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any interest payment date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or
more predecessor Securities) is registered at the close of business on the record date for such interest, which shall be March 15 or September 15 (whether or not a Business Day), as the case may be, next preceding such interest payment
date. Any such interest not so punctually paid or duly provided 

 
for will forthwith cease to be payable to the Holder on such record date and may either be paid to the Person in whose name this Note (or one or more
predecessor Securities) is registered at the close of business on a special record date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10
days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and interest on this
Note will be made at the office or agency of the Issuer maintained for that purpose in the Borough of Manhattan, the City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided that so long as the Notes are held by DTC as Registered Global Securities, payments shall be made by wire transfer to DTC. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF the Issuer has caused this instrument to be duly executed. 
  

							
	Dated: September 23, 2009	 		 	EXELON GENERATION COMPANY, LLC
				
		 		 	By	 	  

		 		 		 	Chaka M. Patterson
		 		 		 	Vice President and Treasurer
			
		 		 	Attest:
			
		 		 	  

	
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	This is one of the Securities referred to in the within-mentioned Indenture.
	
	
		 		 	U.S. Bank National Association, as Trustee
				
		 		 	By:	 	  

		 		 		 	Authorized Officer

  

 [Reverse of Note] 
 This Note is one of a duly authorized issue of securities of the Issuer (herein called the “Notes”), issued and to be issued in one or more series under an Indenture, dated as of September 28, 2007
(herein called the “Indenture”), between the Issuer and U.S. Bank National Association, as trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the
Indenture, including the Officer’s Certificate, dated as of September 23, 2009, delivered pursuant to Sections 2.1, 2.4(3) and 10.5 of the Indenture and setting forth additional terms of this Note, for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Issuer, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the
face hereof, initially limited in aggregate principal amount up to and including $600,000,000. 
 The Issuer may redeem the Notes in whole or
in part, at its option at any time, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes being redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and
interest thereon (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus, as
applicable, 30 basis points, plus accrued interest on the principal amount being redeemed to the redemption date. 
 “Comparable
Treasury Issue” means the United States Treasury security or securities selected by an Independent Investment Banker (as defined below) as having an actual or interpolated maturity comparable to the remaining term of the Notes being redeemed
that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations (as
defined below) for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers (as defined below) appointed by the
Trustee after consultation with the Issuer. 
 “Reference Treasury Dealer” means each of Barclays Capital Inc., J.P. Morgan
Securities Inc. and Morgan Stanley & Co. Incorporated, their respective successors, and two other primary U.S. Government securities dealers in The City of New York (a “Primary Treasury Dealer”), selected by the Issuer. If any
Reference Treasury Dealer shall cease to be a Primary Treasury Dealer, the Issuer will substitute another Primary Treasury Dealer for that dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the trustee by such Reference Treasury Dealer at 3:30 p.m. New York time on the third business day preceding such redemption date. 

 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the
semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such redemption date. 
 The Issuer will mail notice of any redemption at least 30 days but not more than 60 days before the
redemption date to each holder of Notes to be redeemed. 
 Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. 
 The Indenture contains provisions
for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due
and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Issuer and the Trustee with the consent
of the Holders of a majority in aggregate principal amount of the Notes at the time outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of
each series at the time outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note. 
 As provided in and subject to the provisions of the Indenture, the
Holder of this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time
outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, 

 
request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the
Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and
in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the security register, upon surrender of this Note for registration of transfer at the office or agency of the Issuer in any place where the principal of and any premium and interest on this Note are payable,
duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed, by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this
series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set
forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested in writing by the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Note for registration of transfer and
notice to the Trustee thereof the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW. 
 All
terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 ASSIGNMENT FORM 
 If you, the holder, want to assign this Note, fill in the form below and have your signature guaranteed: 
  

									
	I or we assign and transfer this Note to	 		 		 	
				
	  
	 		 		 	
	(Insert assignee’s social security or tax ID number)	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	
	  
	 		 		 	
	(Print or type assignee’s name, address and zip code)	 		 		 	

 and irrevocably appoint agent to transfer this Note on the books of the Issuer. The agent may substitute another
to act for such agent. 
  

							
	Date:	 		 	Your Signature:
			
	  
	 		 	  

		 		 	(Sign exactly as your name appears on the other side of this Note)
				
		 		 	By:	 	  

		 		 	NOTICE: To be executed by an executive officer

 Signature Guarantee: 

 SCHEDULE OF INCREASES OR DECREASES IN REGISTERED GLOBAL SECURITY 
 The following increases or decreases in this Registered Global Security have been made: 
  

									
	 Date of
 Exchange
	 	 Amount of decrease in
 Principal Amount of this
 Global Registered Security
	 	 Amount of Increase in
 Principal Amount of this
 Global Registered Security
	 	 Principal Amount of
this
 Registered Global
Security
 following such
 decrease or increase
	 	 Signature of
authorized
 officer of Trustee or
 Securities Custodian

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