Document:

Exhibit

Exhibit 10.1

THIS UNSECURED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER SATISFACTORY TO THE PAYOR THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.

UNSECURED PROMISSORY NOTE

$250,000.00    
October 31, 2017
Thornton, Colorado

For value received, Ascent Solar Technologies, Inc., a Delaware corporation (“Payor”), promises to pay to Global Ichiban Ltd or its assigns (“Holder”) the principal sum of Two Hundred Fifty Thousand Dollars ($250,000.00) with interest on the outstanding principal amount at the rate of twelve percent (12%) per annum.  Interest shall commence with the date of funding.  Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed.  The principal and accrued interest on this note (the “Note”) shall be due and payable on January 31, 2018 (the “Maturity Date”), provided that the Maturity Date of all Notes (as defined below) may be extended with the written consent of Holder.
1.The obligations under this Note will be unsecured.
2.    All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders.  All payments shall be applied first to accrued expenses due under this Note, next to interest and thereafter to principal.
3.    The entire outstanding principal balance and all unpaid accrued interest shall become fully due and payable on the Maturity Date.  On the Maturity Date, Payor shall pay the Holder the outstanding principal balance, plus an amount equal to all accrued interest.
4.    Promptly upon the occurrence thereof, Payor shall furnish to Holder written notice of the occurrence of any Event of Default (as defined below) hereunder.

5.    If action is instituted to collect this Note, the Payor promises to pay all costs and expenses, including, without limitation, reasonable attorneys’ fees and costs, incurred in connection with such action.
6.    Payor may prepay this Note prior to the Maturity Date.
7.    If there shall be any Event of Default hereunder, at the option of, and upon the declaration of the Holder of this Note and upon written notice to the Payor (which election and notice shall not be required in the case of an Event of Default under Section 7(b) or 7(c)), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable.  The occurrence of any one or more of the following shall constitute an “Event of Default”:
(a)    Payor fails to pay timely any of the principal amount due under any of the Notes on the date the same becomes due and payable or any accrued interest or other amounts due under any of the Notes on the date the same becomes due and payable;
(b)    Payor (i) files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect; (ii) makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; (iii) applies for or consents to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property; (iv) is unable, or admits in writing its inability, to pay its debts generally as they mature, (v) is dissolved or liquidated; (vi) becomes insolvent (as such term may be defined or interpreted under any applicable statute); or (vii) takes any action for the purpose of effecting any of the foregoing; or
(c)    An involuntary petition is filed against Payor (unless such petition is dismissed or discharged within thirty (30) days under any bankruptcy statute now or hereafter in effect) or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of Payor.
8.    Upon the occurrence or existence of any Event of Default (other than an Event of Default described in Section 7(b) or 7(c)) and at any time thereafter during the continuance of such Event of Default, Holder may, by written notice to the Payor, declare all outstanding principal and accrued interest on this Note immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.  Upon the occurrence or existence of any Event of Default described in Section 7(b) or 7(c), immediately and without notice, all outstanding principal and interest on this Note shall automatically become immediately due and 

payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.
9.    The Payor hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to this Note.
10.    This Note shall be governed by and construed under the laws of the State of Colorado, as applied to agreements among Colorado residents, made and to be performed entirely within the State of Colorado, without giving effect to conflicts of laws principles.
11.    Any term of this Note (excluding the principal amount of the Note and the interest rate of the Note) may be amended or waived with the written consent of Payor and Holder.  Upon the effectuation of such waiver or amendment in conformance with this Section 11, the Payor shall promptly give written notice thereof to the record holders of the Notes who have not previously consented thereto in writing.

[Remainder of Page Intentionally Left Blank]
    

IN WITNESS WHEREOF, Payor and Holder have caused this Note to be executed as of the date first written above.

PAYOR:

ASCENT SOLAR TECHNOLOGIES, INC.

By:    /s/ Victor Lee
Name:  Victor Lee
Title:  Chief Executive Officer

HOLDER:

GLOBAL ICHIBAN LTD

For and on Behalf of
LT Asia Management Ltd

By:    /s/ Ashley Ong
Name:  Ashley Ong
Title:  Director

SIGNATURE PAGE TO UNSECURED PROMISSORY NOTEExhibit

Exhibit 10.1
INDEPENDENT CONTRACTOR AGREEMENT

This Agreement is entered into as of November 8, 2017 by and between Five9, Inc., a Delaware corporation (hereinafter, “Company”), and Michael Burkland (hereinafter “Consultant”) to be effective as of the Resignation Effective Date (as defined below).  The Company and Consultant are jointly referred to herein as the “Parties” and in some cases individually as a “Party.”

BACKGROUND

A. Consultant was employed by Company as its Chief Executive Officer and President pursuant the Executive Employment Agreement dated January 1, 2012 between the Parties (“Employment Agreement”).  

B. On November 3, 2017, Consultant voluntarily resigned from the positions of Chief Executive Officer and President of the Company effective December 2, 2017 (“Resignation Effective Date”).

C. Company desires to engage Consultant as an independent contractor to perform services as Executive Chairman as set forth herein.

D. Consultant desires, as an independent contractor, to provide Company services as Executive Chairman on the terms set forth herein, and the Parties desire to resolve all outstanding issues regarding Consultant’s resignation of employment with Company. 

AGREEMENT

In consideration of the mutual promises and agreements herein contained, Company and Consultant agree as follows:

		
	1.
	EMPLOYMENT AGREEMENT AND KESP:  Consultant acknowledges and agrees that all of Consultant’s rights under the Employment Agreement and the Key Employee Severance Benefit Plan (“KESP”) were terminated and ceased as of the Resignation Effective Date based on Consultant’s voluntary resignation, Consultant is not eligible to receive any compensation or benefits under Section 6 of the Employment Agreement or under the KESP based on Consultant’s voluntary resignation, and the Company has no continuing obligations to Consultant under the Employment Agreement or KESP.  The Company, however, will pay Consultant a pro-rated share of the fourth quarter bonus Consultant was eligible to receive as Chief Executive Officer (for the period through December 1, 2017) under the Company’s 2017 executive bonus plan, less applicable withholdings, at the time such bonuses are approved for the Company’s other executive officers in the first quarter of 2018.

CONSULTANT:        MB                  (initial)    - PAGE 1 -    COMPANY:          BZ               (initial)

		
	2.
	SERVICES:  Consultant shall, as Executive Chairman, perform the services described in Appendix A, Section I, attached hereto and incorporated by reference herein ("Services") for the Term of this Agreement as set forth in Section 4.  Services shall be performed at such place or places as Company may from time to time designate.  Consultant shall also continue to serve as a member of the Company’s Board of Directors (“Board”) during the Term of this Agreement, and will be eligible to receive medical benefits as a member of the Board. To the extent he is ineligible to receive medical benefits as a member of the Board, the Company will reimburse him for the cost of individual coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, if available, and, if not available, through other means.  Unless approved by the Board, Consultant shall not receive any additional compensation for his service on the Board, including under the Company’s Non-Employee Director Compensation Policy.

		
	3.
	CONFIDENTIALITY, TRADE SECRETS, PROPRIETARY RIGHTS INTELLECTUAL PROPERTY:  Consultant and Company hereby agree that all of the restrictions, obligations and provisions set forth in the Agreement Regarding Confidential Information, Intellectual Property Non-Solicitation between them dated April 16, 2012, shall remain in full force and effect in accordance with its terms.

		
	4.
	TERM:  This Agreement shall begin on the Resignation Effective Date, and either Party may terminate this Agreement, with or without cause, at any time and for any reason upon giving the other Party at least fifteen (15) days’ prior written notice of such termination (“Term”). The termination of this Agreement shall not affect Consultant’s continued service on the Board nor his rights to vesting acceleration of his stock awards upon a change in control of the Company, as described in Appendix A, Section II. 

		
	5.
	COMPENSATION:  

(a)  Company shall pay to Consultant, as full and complete compensation for all Services performed by Consultant hereunder, at the rate described in Appendix A, Section II, entitled Compensation, for all efforts expended by Consultant in performance of Services hereunder.

		
	(b)
	All compensatory equity awards granted to Consultant by Company prior to the date hereof shall continue vesting following the Resignation Effective Date subject to the terms of the Company’s applicable plans and other applicable agreements between the Parties, subject to his continued service with the Company as a director on the Board.  Consultant agrees that this Section 5(b) constitutes an amendment to the definition of Continuous Service (as defined in the Company’s 2014 Equity Incentive Plan) with respect to such compensatory equity awards. 

CONSULTANT:        MB                  (initial)    - PAGE 2 -    COMPANY:          BZ               (initial)

		
	(c)
	With the approval of the Board or the Company’s Chief Executive Officer, Company shall reimburse Consultant for reasonable expenses incurred by Consultant in connection with the performance of Services under this Agreement.

		
	6.
	ASSIGNMENT:  It is mutually acknowledged that this Agreement contemplates the personal services of Consultant and, accordingly, this Agreement or any rights hereunder or interest herein may not be assigned, transferred or otherwise delegated by Consultant without the express prior written consent by Company. Any attempted sale, assignment, transfer, conveyance, or delegation by Consultant in violation of this Section 6 shall be void.

		
	7.
	STATUS OF CONSULTANT:  

(a) Consultant enters this Agreement as, and intends to continue to be, an independent contractor. Consultant acknowledges that as an independent contractor Consultant is undertaking certain risks of loss not associated with an employment relationship.  Under no circumstances shall Consultant look to Company or a client of Company as its employer. 

(b) Consultant will be solely responsible for payment of all taxes owed, including payment, if any, of employment related taxes and Worker's Compensation Insurance (i.e., FICA, Federal, State, Local, etc.).  

		
	8.
	EQUIPMENT AND FACILITIES:  Consultant may use equipment and facilities of Company provided such are available and such equipment and facilities shall be used solely at Company’s discretion.  In the event of voluntary or involuntary termination of this Agreement, all equipment and/or other property of Company, including without limitation all code, development tools, and other technology that were supplied by Company, or a client of Company, to Consultant, as well as notes, reports, documentation, and drawings pertaining to such code and technologies, or other trade secret information shall be returned to Company by Consultant upon the effective date of termination. Consultant shall be responsible for providing his own software and hardware as required for performance of services described in Appendix A. In the event that consultant does not possess items which are deemed necessary, Company may provide them and then Company shall retain ownership after the consulting period elapses. 

		
	9.
	ARBITRATION:  Any dispute relating to the interpretation or performance of this Agreement shall be resolved at the request of either Party through binding arbitration conducted in Alameda County, California, in accordance with the then-existing rules of the American Arbitration Association.  Judgment upon any award by the arbitrators may be entered by the state or federal court having jurisdiction.  The Parties intend that this Agreement to Arbitrate be irrevocable.

CONSULTANT:        MB                  (initial)    - PAGE 3 -    COMPANY:          BZ               (initial)

		
	10.
	NOTICES:  Any notices in connection with the subject matter of this Agreement shall be in writing and shall be effective when delivered personally to the other Party for whom intended, or within five (5) days following deposit of same into the United States mail, certified mail, return receipt requested, first class postage prepaid, addressed to such Party at the address set forth below its signature to this Agreement.  Either Party may designate a different address by notice to the other Party given in accordance herewith.  In the alternative, a Party may give notice to the other Party via email, which, in the case of Company, shall be directed to Company’s then-current Chief Executive Officer at his or her @five9.com email address, and, in the case of Consultant, shall be directed to his @five9.com email address.  

		
	11.
	GENERAL PROVISIONS:

		
	(a)
	This Agreement shall be governed by and construed in accordance with the laws of the State of California.

		
	(b)
	This Agreement may not be changed or modified, in whole or part, except by a writing signed by both Parties.

		
	(c)
	If any provision of this Agreement shall be found to be invalid or unenforceable, such invalid or unenforceable provision shall be replaced by a valid and enforceable provision that as closely as possible reflects the intent of the Parties, and the remaining provisions shall nevertheless remain in full force and effect.

(d) This Agreement sets forth the entire understanding between the Parties with respect to the subject matter hereof. It replaces and supersedes any other agreement, representation, or promise which may have existed between the Parties.

(e) This Agreement is binding upon and shall inure to the benefit of the legal successors and assigns of the Parties.

[Signature page follows]

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first set forth above.

CONSULTANT:                    COMPANY:

                            
/s/ Michael Burkland                    /s/ Barry Zwarenstein            
Michael Burkland                    By: Barry Zwarenstein
Title: Chief Financial Officer

Address: 

APPENDIX A

Section I ("Services")

The Services to be performed by Consultant as Executive Chairman under this Agreement shall be as follows:  

		
	•
	Advice and consultation on strategic initiatives, investor relations, talent development, organizational and other matters.

Consultant shall work under the direction of the Board and, as appropriate, in conjunction with the Company’s Chief Executive Officer, or other employees of the Company, and shall provide such other services as requested by the Board or the Company’s Chief Executive Officer and agreed to by Consultant. 

Section II ("Compensation")

Compensation to Consultant as full and complete consideration for Services rendered under this Agreement shall be as follows:  

		
	1.
	A monthly payment in the gross sum of $16,666.67.

		
	2.
	Consultant shall be eligible to receive additional equity awards under the Company’s equity incentive plans, subject to the approval of the Board or Compensation Committee.  

		
	3.
	Consultant shall receive full vesting acceleration of Consultant’s then-unvested and outstanding stock awards as of immediately prior to a Change in Control (as defined in the Company’s 2014 Equity Incentive Plan), subject to his continued service with the Company as a director on the Board through such time.

CONSULTANT:        MB                  (initial)    - PAGE 4 -    COMPANY:          BZ               (initial)

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