Document:

exv10w12

 

EXHIBIT
– 10.12

			
	 	 	 
	$                     
	 	                          , 2007

PROMISSORY
NOTE 
AND 
 COLLATERAL STOCK PLEDGE AGREEMENT

          THIS PROMISSORY NOTE AND COLLATERAL STOCK PLEDGE AGREEMENT (this “Note”) is made as of
the date set forth above by                                          , an adult resident of the State of Wisconsin (“Maker”).

          For value received, Maker hereby promises to pay to the order of Orion Energy Systems, Ltd., a
Wisconsin corporation (“Holder”), at the main offices of Holder, or such other address as
Holder shall designate to Maker in writing, the principal sum of
                                             
                                              
                             
 Dollars and No/100 Cents ($___),
payable on the earlier to occur of (1) ___, ___, (2) fourteen (14) days after Holder gives
notice that it has determined, based on the advice of its counsel, investment banker or financial
advisor, that this Note has or would reasonably be expected to have an adverse impact on the
ability of the Holder to enter into a material financing or other transaction or commence a public
offering of the Holder’s securities, (3) fourteen (14) days after Holder gives notice that it
expects certain securities of Holder to be public securities under the rules of the Federal
Securities and Exchange commission within sixty (60) days, or (4) within sixty (60) days of the
death of Maker or termination or cessation of Maker’s employment or services to the Holder, unless
waived by Holder’s Board of Directors. The outstanding balance of this Note shall bear interest at
a rate equal to
                per annum.
Maker shall be obligated to make payments of interest only on an
annual basis, payable in immediately available funds or by tender of Shares (as defined below) on
each anniversary of the date of this Note until the principal balance hereunder becomes due and
payable. All payments of interest and/or principal shall be made in immediately available funds or
by the transfer to Holder of some or all of the Shares (as defined below) held by Maker for their
fair market value at the time of the transfer, without offset, counterclaim, or deduction of any
amount (including without limitation, taxes) and shall be made not less than in the amounts
otherwise specified to be paid under this Note. This Note may be prepaid in whole or in part, by
payment of immediately available funds or by tender of Shares (as defined below) at any time and
without penalty. In the event Maker elects to pay any principal or interest owed hereunder by
tender of Shares (as defined below), the Shares shall be valued at the fair market value of such
Shares at the time of tender, as determined by the agreement of Holder and Maker and if not so
agreed, then by the recognized professional appraisal service last performing an appraisal of
Holder’s common stock.

          This Note is made in connection with the exercise by Maker of Maker’s non-qualified option to
purchase the aggregate of                                 shares of Common Stock of Holder relating to the following
Stock Option Agreements: (i)                     shares of Common Stock of Holder at an exercise price of
$                    per share pursuant to that certain Stock Option Agreement between Maker and Holder dated as
of                     ,                      , and (ii)                     shares of Common Stock of Holder at an exercise price of
$  per share pursuant to that certain Stock

 

 

Option Agreement between Maker and Holder dated as of                      ,                    (collectively, the
“Shares”). For purposes of clarification, the respective numbers of shares and exercise
prices stated in (i) and (ii) in the immediately preceding sentence take into account the April 1,
2006 stock split (the originally stated shares and exercise prices were                      and $                     , and
                     and $                     , respectively).

          To secure the payment and performance by Maker of Maker’s duties and obligations hereunder,
Maker grants to Holder a security interest in and to the Shares and any property received by Maker
in exchange for or as a dividend or distribution on or with respect to the Shares, and all proceeds
of the Shares and such property (all of the foregoing being hereinafter referred to as the
“Collateral”). All such indebtedness, obligations and liabilities are referred to herein
as the “Obligations.” In order to perfect the security interest in the Collateral, Holder
shall retain custody of the stock certificates representing the Shares. During the period
commencing upon the date hereof and continuing until all amounts payable hereunder are paid in
full, Maker shall keep the Collateral free from all liens, encumbrances and security interests
(other than those created hereunder or approved in writing by Holder); pay and discharge when due
all taxes, levies and other charges upon it, and defend it against all claims and legal proceedings
by persons other than Holder; and pay all expenses and, upon request, take any action or execute
any documents reasonably deemed necessary by Holder, to preserve the Collateral or to establish,
determine priority of, perfect, continue perfection, terminate and/or enforce Holder’s interest
therein or rights hereunder.

          Upon and during the continuance of any Event of Default (as defined below), Holder shall have
all of the rights and remedies of a secured party under the Wisconsin Uniform Commercial Code (the
“Wisconsin UCC”). The exercise by Holder of such rights and remedies shall not be
construed as a limitation of the obligations of Maker to Holder, or the rights of Holder, hereunder
or otherwise. Whenever Holder is required by the Wisconsin UCC to give notice to Maker in the
exercise of its rights and/or remedies with respect to the Collateral, the Holder must give at
least fifteen (15) days advance written notice to Maker.

          In addition to Holder’s other rights, upon the occurrence of an Event of Default, Maker
irrevocably appoints Holder as proxy, with full power of substitution and revocation, to exercise
Maker’s rights to attend meetings, vote, consent to and/or take any action respecting the
Collateral as fully as Maker might do. This proxy shall remain effective so long as such Event of
Default shall continue and the Obligations are unpaid or unperformed.

          The entire principal balance together with all accrued but unpaid interest and any other
amounts due hereunder, shall, at the option of Holder and upon written notice to Maker, become
immediately due and payable in the event that any of the following shall occur (each an “Event
of Default”):

	 	(a)	 	any payment of interest hereunder is not made on or before ten
(10) days after Holder provides written notice to Maker that such payment is
past due;
	 
	 	(b)	 	any default shall occur in Maker’s obligations hereunder, and
the same shall not be timely cured to Holder’s satisfaction; or

2

 

	 	(c)	 	the filing of bankruptcy, insolvency, receivership, or similar
proceedings for the relief of debtors or creditors, whether voluntary or
involuntary, of Maker.

          Maker agrees to reimburse Holder for all reasonable costs and expenses, including reasonable
attorney’s fees and expenses, incurred in connection with the enforcement of its rights against
Maker hereunder and under the Stock Option Agreement and the Shareholders Agreement. Without
limiting the generality of the foregoing, Maker shall indemnify, defend and hold harmless Holder
for any losses, damages liabilities or claims that Holder is liable for any liabilities or
obligations to any taxing authority resulting from the exercise of the option pursuant to the Stock
Option Agreements.

          Except as specifically provided in this Note, Maker hereby waives presentment for payment,
demand, protest and notice of dishonor.

          No delay on the part of Holder in the exercise of any right or remedy shall operate as a
waiver thereof, and no single or partial exercise by Holder of any right or remedy shall preclude
any other or further exercise of any other right or remedy.

          No provision of this Note may be amended, waived or otherwise modified except by written
agreement of Maker and Holder.

          Maker shall not at any time sell, assign or transfer, all or part of Maker’s interest or
obligations in or under this Note, except in accordance with the prepayment provisions contained
herein. Notwithstanding the foregoing, the terms and provisions of this Note shall be binding upon
and inure to the benefit of Maker and Holder and their respective successors and permitted assigns.

          Without affecting the liability of Maker or any endorser, surety or guarantor, Holder may,
without notice, grant renewals or extensions, accept partial payments, release or impair any
collateral security for the payment of this Note or agree not to sue any party liable on it.

          Maker shall be personally liable for the entire indebtedness evidenced by this Note (including
all principal, interest and other charges) to the extent the transfer of any Shares by Maker to
Holder at their fair market value does not satisfy such indebtedness. Maker represents and
warrants that Maker has the financial ability to satisfy all such liabilities under this Note even
if payment of principal and accrued interest is accelerated by Holder under the terms of this note.

          This Note has been executed in, and shall be governed by the internal laws of, the State of
Wisconsin. Whenever possible, each provision of this Note shall be interpreted in such a manner as
to be effective and valid under applicable law, but if any provision of this Note shall be
prohibited by or be invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity without invalidating the remainder of such provision or the
remaining provisions of this Note.

3exv10w13

 

EXHIBIT-10.13

PATENT AND TRADEMARK SECURITY AGREEMENT

          This Agreement, dated as of December 22, 2005, is made by and between ORION ENERGY SYSTEMS,
LTD., a Wisconsin corporation, having a business location at the address set forth below under its
signature (the “Debtor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, acting through its Wells
Fargo Business Credit operating division, having a business location at the address set forth below
under its signature (the “Secured Party”).

RECITALS:

          The Debtor and Great Lakes Energy Technologies, LLC, a Wisconsin limited liability company
(collectively, the “Borrower”), and the Secured Party are parties to a Credit and Security
Agreement of even date herewith (as the same may hereafter be amended, supplemented or restated
from time to time, the “Credit Agreement”) setting forth the terms on which the secured Party may
now or hereafter extend credit to or for the account of the Borrower.

          As a condition to extending credit to or for the account of the Borrower, the Secured Party
has required the execution and delivery of this Agreement by the Debtor.

          ACCORDINGLY, in consideration of the mutual covenants contained in the Loan Documents and
herein, the parties hereby agree as follows:

     1. Definitions. All terms defined in the Recitals hereto or in the Credit Agreement
that are not otherwise defined herein shall have the meanings given to them therein. In addition,
the following terms have the meanings set forth below:

          “Obligations” means each and every debt, liability and obligation of every type and
description arising under or in connection with any Loan Document (as defined in the Credit
Agreement) which the Borrower may now or at any time hereafter owe to the Secured Party, whether
such debt, liability or obligation now exists or is hereafter created or incurred and whether it is
or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary,
liquidated or unliquidated, independent, joint, several or joint and several, and including
specifically, but not limited to, the Obligations (as defined in the Credit Agreement).

          “Patents” means all of the Debtor’s right, title and interest in and to patents or
applications for patents, fees or royalties with respect to each, and including without limitation
the right to sue for past infringement and damages therefor, and licenses thereunder, all as
presently existing or hereafter arising or acquired, including without limitation the patents
listed on Exhibit A.

          “Security Interest” has the meaning given in Section 2.

          “Trademarks” means all of the Debtor’s right, title and interest in and to: (i) trademarks,
service marks, collective membership marks, registrations and applications for registration for
each, and the respective goodwill associated with each, (ii) licenses, fees or royalties with
respect to each, (iii) the right to sue for past, present and future infringement,

 

 

dilution and damages therefor, (iv) and licenses thereunder, all as presently existing or
hereafter arising or acquired, including, without limitation, the marks listed on Exhibit B.

     2. Security Interest. The Debtor hereby irrevocably pledges and assigns to, and
grants the Secured Party a security interest (the “Security Interest”), with power of sale to the
extent permitted by law, in the Patents and in the Trademarks to secure payment of the Obligations.
As set forth in the Credit Agreement, the Security Interest is coupled with a security interest in
substantially all of the personal property of the Debtor. This Agreement grants only the Security
Interest herein described, is not intended to and does not affect any present transfer of title of
any trademark registration or application and makes no assignment and grants no right to assign or
perform any other action with respect to any intent to use trademark application, unless such
action is permitted under 15 U.S.C. §1060.

     3. Representations, Warranties and Agreements. The Debtor represents, warrants and
agrees as follows:

     (a) Existence; Authority. The Debtor is a corporation duly organized, validly existing
and in good standing under the laws of its state of incorporation, and this Agreement has
been duly and validly authorized by all necessary corporate action on the part of the
Debtor.

     (b) Patents. Exhibit A accurately lists all Patents owned or controlled by the Debtor
as of the date hereof, or to which the Debtor has a right as of the date hereof to have
assigned to it, and accurately reflects the existence and status of applications and letters
patent pertaining to the Patents as of the date hereof. If after the date hereof, the
Debtor owns, controls or has a right to have assigned to it any Patents not listed on
Exhibit A, or if Exhibit A ceases to accurately reflect the existence and status of
applications and letters patent pertaining to the Patents, then the Debtor shall within
sixty (60) days provide written notice to the Secured Party with a replacement Exhibit A,
which upon acceptance by the Secured Party shall become part of this Agreement.

     (c) Trademarks. Exhibit B accurately lists all Trademarks owned or controlled by the
Debtor as of the date hereof and accurately reflects the existence and status of Trademarks
and all applications and registrations pertaining thereto as of the date hereof;
provided, however, that Exhibit B need not list common law marks (i.e.,
Trademarks for which there are no applications or registrations) which are not material to
the Debtor’s or any Affiliate’s business(es). If after the date hereof, the Debtor owns or
controls any Trademarks not listed on Exhibit B (other than common law marks which are not
material to the Debtor’s business), or if Exhibit B ceases to accurately reflect the
existence and status of applications and registrations pertaining to the Trademarks, then
the Debtor shall promptly provide written notice to the Secured Party with a replacement
Exhibit B, which upon acceptance by the Secured Party shall become part of this Agreement.

     (d) Affiliates. As of the date hereof, no Affiliate owns, controls, or has a right to
have assigned to it any items that would, if such item were owned by the Debtor, constitute
Patents or Trademarks. If after the date hereof any Affiliate owns, controls, or

2

 

has a right to have assigned to it any such items, then the Debtor shall promptly
either: (i) cause such Affiliate to assign all of its rights in such item(s) to the Debtor;
or (ii) notify the Secured Party of such item(s) and cause such Affiliate to execute and
deliver to the Secured Party a patent and trademark security agreement substantially in the
form of this Agreement.

     (e) Title. The Debtor has absolute title to each Patent and each Trademark listed on
Exhibits A and B, free and clear of all Liens except Permitted Liens. The Debtor (i) will
have, at the time the Debtor acquires any rights in Patents or Trademarks hereafter arising,
absolute title to each such Patent or Trademark free and clear of all Liens except Permitted
Liens, and (ii) will keep all Patents and Trademarks free and clear of all Liens except
Permitted Liens.

     (f) No Sale. Except as permitted in the Credit Agreement, the Debtor will not assign,
transfer, encumber or otherwise dispose of the Patents or Trademarks, or any interest
therein, without the Secured Party’s prior written consent.

     (g) Defense. The Debtor will at its own expense and using commercially reasonable
efforts, protect and defend the Patents and Trademarks against all claims or demands of all
Persons other than those holding Permitted Liens.

     (h) Maintenance. The Debtor will at its own expense maintain the Patents and the
Trademarks to the extent reasonably advisable in its business including, but not limited to,
filing all applications to obtain letters patent or trademark registrations and all
affidavits, maintenance fees, annuities, and renewals possible with respect to letters
patent, trademark registrations and applications therefor. The Debtor covenants that it
will not abandon nor fail to pay any maintenance fee or annuity due and payable on any
Patent or Trademark, nor fail to file any required affidavit or renewal in support thereof,
without first providing the Secured Party: (i) sufficient written notice, of at least thirty
(30) days, to allow the Secured Party to timely pay any such maintenance fees or annuities
which may become due on any Patents or Trademarks, or to file any affidavit or renewal with
respect thereto, and (ii) a separate written power of attorney or other authorization to pay
such maintenance fees or annuities, or to file such affidavit or renewal, should such be
necessary or desirable.

     (i) Secured Party’s Right to Take Action. If the Debtor fails to perform or observe
any of its covenants or agreements set forth in this Section 3, and if such failure
continues for a period of ten (10) calendar days after the Secured Party gives the Debtor
written notice thereof (or, in the case of the agreements contained in subsection (h),
immediately upon the occurrence of such failure, without notice or lapse of time), or if the
Debtor notifies the Secured Party that it intends to abandon a Patent or Trademark, the
Secured Party may (but need not) perform or observe such covenant or agreement or take steps
to prevent such intended abandonment on behalf and in the name, place and stead of the
Debtor (or, at the Secured Party’s option, in the Secured Party’s own name) and may (but
need not) take any and all other actions which the Secured Party may reasonably deem
necessary to cure or correct such failure or prevent such intended abandonment.

3

 

     (j) Costs and Expenses. Except to the extent that the effect of such payment would be
to render any loan or forbearance of money usurious or otherwise illegal under any
applicable law, the Debtor shall pay the Secured Party on demand the amount of all moneys
expended and all costs and expenses (including reasonable attorneys’ fees and disbursements)
incurred by the Secured Party in connection with or as a result of the Secured Party’s
taking action under subsection (i) or exercising its rights under Section 6, together with
interest thereon from the date expended or incurred by the Secured Party at the Default
Rate.

     (k) Power of Attorney. To facilitate the Secured Party’s taking action under
subsection (i) and exercising its rights under Section 6, the Debtor hereby irrevocably
appoints (which appointment is coupled with an interest) the Secured Party, or its delegate,
as the attorney-in-fact of the Debtor with the right (but not the duty) from time to time to
create, prepare, complete, execute, deliver, endorse or file, in the name and on behalf of
the Debtor, any and all instruments, documents, applications, financing statements, and
other agreements and writings required to be obtained, executed, delivered or endorsed by
the Debtor under this Section 3, or, necessary for the Secured Party, after an Event of
Default, to enforce or use the Patents or Trademarks or to grant or issue any exclusive or
non-exclusive license under the Patents or Trademarks to any third party, or to sell,
assign, transfer, pledge, encumber or otherwise transfer title in or dispose of the Patents
or Trademarks to any third party. The Debtor hereby ratifies all that such attorney shall
lawfully do or cause to be done by virtue hereof. The power of attorney granted herein
shall terminate upon the termination of the Credit Agreement as provided therein and the
payment and performance of all Obligations.

     4. Debtor’s Use of the Patents and Trademarks. The Debtor shall be permitted to control
and manage the Patents and Trademarks, including the right to exclude
others from making, using or selling items covered by the Patents and Trademarks and any licenses
thereunder, in the same manner and with the same effect as if this Agreement had not been entered
into, so long as no Event of Default occurs and remains uncured.

     5. Events of Default. Each of the following occurrences shall constitute an event of
default under this Agreement (herein called “Event of Default”): (a) an Event of Default, as
defined in the Credit Agreement, shall occur; or (b) the Debtor shall fail promptly to observe or
perform any covenant or agreement herein binding on it; or (c) any of the representations or
warranties contained in Section 3 shall prove to have been incorrect in any material respect when
made.

     6. Remedies. Upon the occurrence of an Event of Default and at any time thereafter,
the Secured Party may, at its option, take any or all of the following actions:

     (a) The Secured Party may exercise any or all remedies available under the Credit
Agreement.

     (b) The Secured Party may sell, assign, transfer, pledge, encumber or otherwise dispose
of the Patents and Trademarks.

4

 

     (c) The Secured Party may enforce the Patents and Trademarks and any licenses
thereunder, and if Secured Party shall commence any suit for such enforcement, the Debtor
shall, at the request of Secured Party, do any and all lawful acts and execute any and all
proper documents required by Secured Party in aid of such enforcement.

     7. Miscellaneous. This Agreement can be waived, modified, amended, terminated or
discharged, and the Security Interest can be released, only explicitly in a writing signed by the
Secured Party. A waiver signed by the Secured Party shall be effective only in the specific
instance and for the specific purpose given. Mere delay or failure to act shall not preclude the
exercise or enforcement of any of the Secured Party’s rights or remedies. All rights and remedies
of the Secured Party shall be cumulative and may be exercised singularly or concurrently, at the
Secured Party’s option, and the exercise or enforcement of any one such right or remedy shall
neither be a condition to nor bar the exercise or enforcement of any other. All notices to be
given to Debtor under this Agreement shall be given in the manner and with the effect provided in
the Credit Agreement. The Secured Party shall not be obligated to preserve any rights the Debtor
may have against prior parties, to realize on the Patents and Trademarks at all or in any
particular manner or order, or to apply any cash proceeds of Patents and Trademarks in any
particular order of application. This Agreement shall be binding upon and inure to the benefit of
the Debtor and the Secured Party and their respective participants, successors and assigns and
shall take effect when signed by the Debtor and delivered to the Secured Party, and the Debtor
waives notice of the Secured Party’s acceptance hereof. The Secured Party may execute this
Agreement if appropriate for the purpose of filing, but the failure of the Secured Party to execute
this Agreement shall not affect or impair the validity or effectiveness of this Agreement. A
carbon, photographic or other reproduction of this Agreement or of any financing statement signed
by the Debtor shall have the same force and effect as the original for all purposes of a financing
statement. This Agreement shall be governed by the internal law of Wisconsin without regard to
conflicts of law provisions. If any provision or application of this Agreement is held unlawful or
unenforceable in any respect, such illegality or unenforceability shall not affect other provisions
or applications which can be given effect and this Agreement shall be construed as if the unlawful
or unenforceable provision or application had never been contained herein or prescribed hereby.
All representations and warranties contained in this Agreement shall survive the execution,
delivery and performance of this Agreement and the creation and payment of the Obligations.

     THE PARTIES WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED ON OR
PERTAINING TO THIS AGREEMENT.

     IN WITNESS WHEREOF, the parties have executed this Patent and Trademark Security Agreement as
of the date written above.

5

 

	 	 	 
	WELLS FARGO BANK, NATIONAL

	 	ORION ENERGY SYSTEMS, LTD.
	ASSOCIATION, acting through its WELLS
	 	 
	FARGO BUSINESS CREDIT operating division
	 	 
	 
	 	 
	By: /s/ Melissa L. Dreifuerst
	 	 
	Its: Vice President

	 	By: /s/ Neal R. Verfuerth
	 
	Wells Fargo Business Credit

	 	Its: President
	100 East Wisconsin Avenue

	 	Orion Energy Systems, Ltd.
	MAC N9811-143

	 	1204 Pilgrim Road
	Milwaukee, Wisconsin 53202

	 	Plymouth, Wisconsin 53073

	 	 	 	 	 
	STATE OF WISCONSIN

	 	 	)	 
	 

	 	 	)	 
	COUNTY OF MILWAUKEE

	 	 	)	 

          The foregoing instrument was acknowledged before me this 22nd day of December,
2005, by Neal R. Verfuerth, the President of Orion Energy Systems, Ltd., a Wisconsin corporation,
on behalf of the corporation.

/s/ Eric von Estorff

Notary Public

	 	 	 	 	 
	STATE OF WISCONSIN

	 	 	)	 
	 

	 	 	)	 
	COUNTY OF MILWAUKEE

	 	 	)	 

          The foregoing instrument was acknowledged before me this 22nd day of December,
2005, by Melissa L. Dreifuerst, a Vice President of Wells Fargo Bank, National Association, acting
through its Wells Fargo Business Credit operating division, on behalf of the bank.

/s/ Eric von Estorff

Notary Public

6

 

EXHIBIT A

UNITED STATES PATENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	APP.	 	FILING	 	 	 	 
	 	 	NO./PATENT	 	DATE/ISSUE	 	 	 	 
	PATENT	 	NO.	 	DATE	 	STATUS	 	OWNER
	OVERHEAD

	 	D494700	 	08/17/2004	 	Issued	 	Orion Energy
	FLUORESCENT LIGHT
	 	 	 	 	 	 	 	Systems, Ltd.
	FIXTURE
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	APPARATUS AND
	 	6774619	 	08/10/2004	 	Issued	 	Orion Energy
	METHOD FOR
	 	 	 	 	 	 	 	Systems, Ltd.
	COMPARISON OF

ELECTRIC POWER

EFFICIENCY OF LIGHTING

SOURCES
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FLUORESCENT HANGING
	 	6758580	 	07/06/2004	 	Issued	 	Orion Energy
	LIGHT FIXTURE
	 	 	 	 	 	 	 	Systems, Ltd.
	 
	 	 	 	 	 	 	 	 
	MOTION DETECTOR
	 	6746274	 	06/08/2004	 	Issued	 	Orion Energy
	FLUORESCENT LIGHT
	 	 	 	 	 	 	 	Systems, Ltd.
	CONNECTOR APPARATUS
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	APPARATUS FOR AND
	 	6724180	 	04/20/2004	 	Issued	 	Orion Energy
	METHOD OF METERING
	 	 	 	 	 	 	 	Systems, Ltd.
	SEPARATE LIGHTING

CIRCUITS FOR

COMPARATIVE ELECTRIC

POWER USAGE TO

PROVIDE A VIRTUAL

POWER PLANT IN

ELECTRIC POWER

SAVINGS
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	APPARATUS AND METHOD
	 	6710588	 	03/23/2004	 	Issued	 	Orion Energy
	FOR COMPARISON OF
	 	 	 	 	 	 	 	Systems, Ltd,
	ELECTRIC POWER

EFFICIENCY OF

LIGHTING SOURCES TO

IN EFFECT BE A

VIRTUAL POWER PLANT
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ELECTRIC CONNECTOR
	 	D483332	 	12/09/2003	 	Issued	 	Systems, Ltd.
	CORD
	 	 	 	 	 	 	 	Orion Energy

 

 

	 	 	 	 	 	 	 	 	 
	 	 	APP.	 	FILING	 	 	 	 
	 	 	NO./PATENT	 	DATE/ISSUE	 	 	 	 
	PATENT	 	NO.	 	DATE	 	STATUS	 	OWNER
	ELECTRIC CONNECTOR
	 	D479826	 	09/23/2003	 	Issued	 	Orion Energy
	CORD HAVING MALE
	 	 	 	 	 	 	 	Systems, Ltd.
	PLUG ENDS
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FLUORESCENT HANGING
	 	6585396	 	07/01/2003	 	Issued	 	Systems, Ltd.
	LIGHT FIXTURE
	 	 	 	 	 	 	 	Orion Energy
	 
	 	 	 	 	 	 	 	 
	MEANS AND METHOD OF
	 	6467933	 	10/22/2002	 	Issued	 	Orion Energy
	INCREASING LIFETIME OF
	 	 	 	 	 	 	 	Systems, Ltd.
	FLUORESCENT LAMPS
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	OVERHEAD DOWN-LIGHT
	 	D463059	 	09/17/2002	 	Issued	 	Systems, Ltd.
	FLUORESCENT LIGHT
	 	 	 	 	 	 	 	Orion Energy
	FIXTURE
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ELECTRICAL CONNECTOR
	 	D460735	 	07/23/2002	 	Issued	 	Systems, Ltd.
	PIGTAIL CORD
	 	 	 	 	 	 	 	Orion Energy
	 
	 	 	 	 	 	 	 	 
	OVERHEAD DOWNLIGHT
	 	D447266	 	08/28/2001	 	Issued	 	Systems, Ltd.
	FLUORESCENT LIGHT
	 	 	 	 	 	 	 	Orion Energy
	FIXTURE
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FLUORESCENT LIGHT
	 	6257735	 	07/10/2001	 	Issued	 	Systems, Ltd.
	REFLECTOR
	 	 	 	 	 	 	 	Orion Energy

FOREIGN ISSUED PATENTS

NONE

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EXHIBIT B

UNITED STATES TRADEMARKS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	FILING	 	 	 	 
	 	 	 	 	DATE/REG.	 	 	 	 
	MARK	 	SERIAL NO./REG. NO.	 	DATE	 	STATUS	 	OWNER
	
	 	2,403,983	 	11/14/2000	 	Registered	 	Orion Energy 
 Systems, Ltd.
	 
	 	 	 	 	 	 	 	 

FOREIGN TRADEMARKS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING	 	 	 	 	 
	 	 	 	 	SERIAL	 	DATE/REG.	 	 	 	 	 
	MARK	 	COUNTRY	 	NO./REG.	 	DATE	 	STATUS	 	OWNER	 
	ORION
	 	Canada	 	1213,003	 	04/13/2004	 	Pending	 	Orion Energy
	 
	 	 	 	 	 	 	 	 	 	Systems, Ltd.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	ORION and Design
	 	Canada	 	1212,999	 	04/13/2004	 	Pending	 	Orion Energy
	 
	 	 	 	 	 	 	 	 	 	Systems, Ltd.

3

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