Document:

Exhibit 10.11

 

 

COMMITTED EQUITY FACILITY AGREEMENT

 

COMMITTED EQUITY FACILITY
AGREEMENT (this “Agreement”), dated as of June 11, 2013, by and among Solar Wind Energy Tower, Inc., a Nevada
corporation, with headquarters located at 1997 Annapolis Exchange Blvd., Suite 300, Annapolis, MD, 21401 (the “Company”),
and the purchaser set forth on the signature pages hereto (the “Investor”).

 

WHEREAS, the
parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor,
from time to time as provided herein, and the Investor shall purchase from the Company up to Three Million Dollars ($3,000,000)
of the Company’s common stock, par value $.0001 per share (the “Common Stock”); and

 

WHEREAS, the
offer and sale of the shares of Common Stock issuable hereunder has been, or shall be, registered pursuant to a registration
statement under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities
Act”).

 

NOW, THEREFORE,
Company and the Investor hereby agree as follows:

 

ARTICLE I.

Certain Definitions

 

Section 1.1.“Advance”
shall mean the portion of the Commitment Amount requested by the Company in the Advance Notice.

 

Section 1.2.“Advance
Date” shall mean the second Trading Day after the delivery of the Advance Notice for each Advance.

 

Section 1.3.“Advance
Notice” shall mean a written notice to the Investor setting forth the Advance amount that the Company requests from the
Investor and the Advance Date.

 

Section 1.4.“Advance
Notice Date” shall mean each date the Company delivers to the Investor an Advance Notice requiring the Investor to advance
funds to the Company, subject to the terms of this Agreement. No Advance Notice Date shall be less than five (5) Trading Days after
the prior Advance Notice Date.

 

Section 1.5.“Closing”
shall mean one of the closings of a purchase and sale of Common Stock pursuant to Section 2.3.

 

Section 1.6.“Commitment
Amount” shall mean the aggregate amount of up to Three Million Dollars ($3,000,000) which the Investor has agreed to
provide to the Company in order to purchase the Company’s Common Stock pursuant to the terms and conditions of this Agreement.

 

Section 1.7.“Commitment
Period” shall mean the period commencing on the Effective Date and expiring on the earliest to occur of (x) the date
on which the Investor shall have made payment of Advances pursuant to this Agreement in the aggregate amount of Three Million Dollars
($3,000,000), (y) the date this Agreement is terminated pursuant to Section 2.4, or (z) the date occurring thirty six (36) months
after the Effective Date.

 

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Section 1.8.“Common
Stock” shall mean the Company’s common stock, par value $.0001 per share.

 

Section 1.9.“Condition
Satisfaction Date” shall have the meaning set forth in Section 7.2.

 

Section 1.10.“Daily
Value Traded” in respect of a particular day means the product obtained by multiplying the daily trading volume of the
Common Stock for that day on the Principal Market as reported by Bloomberg, L.P. by the VWAP for such day.

 

Section 1.11.“Damages”
shall mean any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney’s fees
and disbursements and costs and expenses of expert witnesses and investigation).

 

Section 1.12.“Effective
Date” shall mean the date on which the SEC first declares effective a Registration Statement registering the resale of
the Common Stock as set forth in Section 7.2(a).

 

Section 1.13.“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

Section 1.14.“FINRA”
shall mean the Financial Industry Regulatory Authority

 

Section 1.15.“Material
Adverse Effect” shall mean any material adverse effect on the business, operations, assets, financial condition or prospects
of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements or
instruments to be entered into in connection herewith.

 

Section 1.16.“Market
Price” shall mean the lowest daily VWAP of the Common Stock during the relevant Pricing Period.

 

Section 1.17.“Maximum
Advance Amount” shall be equal to two hundred percent (200%) of the average Daily Value Traded for the ten (10) Trading
Days immediately prior to the date of delivery of the Advance Notice so long as such amount does not exceed 4.99% of the outstanding
shares of the Company.

 

Section 1.18.“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

Section 1.19.“Pricing
Period” shall mean the five (5) consecutive Trading Days before the Advance Notice Date.

 

Section 1.20.“Principal
Market” shall mean the Nasdaq National Market, the Nasdaq SmallCap Market, the NYSE Market, the OTC Bulletin Board, the
OTCQB or the New York Stock Exchange, whichever is at the time the principal trading exchange or market for the Common Stock.

 

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Section 1.21.“Purchase
Price” shall be set at seventy five percent (75%) of the Market Price during the Pricing Period.

 

Section 1.23“Registrable
Securities” shall mean the shares of Common Stock to be issued hereunder
(i) in respect of which the Registration Statement has not been declared effective by the SEC, (ii) which have not been
sold under circumstances meeting all of the applicable conditions of Rule 144 (or any similar provision then in force) under the
Securities Act (“Rule 144”) or (iii) which have not been otherwise transferred to a holder who may trade such
shares without restriction under the Securities Act, and the Company has delivered a new certificate or other evidence of ownership
for such securities not bearing a restrictive legend.

 

Section 1.22.“Registration
Statement” shall mean a registration statement on Form S-1 (if use of such form is then available to the Company pursuant
to the rules of the SEC and, if not, on such other form promulgated by the SEC for which the Company then qualifies and which counsel
for the Company shall deem appropriate, and which form shall be available for the resale of the Registrable Securities to be registered
thereunder in accordance with the provisions of this Agreement and in accordance with the intended method of distribution of such
securities) filed by the Company with the SEC under the Securities Act with respect to the resale of the Common Stock to be offered
and sold by the Company hereunder, as such Registration Statement may be amended and supplemented from time to time and including
any information deemed to be a part thereof pursuant to Rule 430B under the Securities Act or another registration statement on
a form promulgated by the SEC for which the Company then qualifies and which form shall be available for the registration of the
offer and sale of the Shares to the Investor and any successor shelf registration statement filed by the Company with the SEC under
the Securities Act on a form promulgated by the SEC for which the Company then qualifies and which form shall be available for
the registration of the sale of Shares to the Investor.

 

Section 1.23.“SEC”
shall have the meaning set forth in the recitals of this Agreement.

 

Section 1.24.“Securities
Act” shall have the meaning set forth in the recitals of this Agreement.

 

Section 1.25.“SEC
Documents” shall mean Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Proxy
Statements of the Company as supplemented to the date hereof, filed by the Company for a period of at least twelve (12) months
immediately preceding the date hereof or the Advance Date, as the case may be, until such time as the Company no longer has an
obligation to maintain the effectiveness of a Registration Statement.

 

Section 1.26.“Trading
Day” shall mean any day during which the New York Stock Exchange shall be open for business.

 

Section 1.27. “Transaction
Documents” means this Agreement, the Registration Rights Agreement and any other documents or agreements executed in
connection with the transactions contemplated hereunder.

 

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Section 1.28.“VWAP”
shall mean the volume weighted average price of the Company’s Common Stock as quoted by Bloomberg, LP.

 

ARTICLE II.

Advances

 

Section 2.1.Investments.

 

(a)Advances.
Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII hereof), on any Advance
Notice Date the Company may request an Advance by the Investor by the delivery of an Advance Notice. The number of shares of Common
Stock that the Investor shall receive for each Advance shall be determined by dividing the amount of the Advance by the Purchase
Price. No fractional shares shall be issued. Fractional shares shall be rounded to the next higher whole number of shares. The
aggregate maximum amount of all Advances that the Investor shall be obligated to make under this Agreement shall not exceed the
Commitment Amount.

 

Section 2.2.Mechanics.

 

(a)Advance Notice.
At any time during the Commitment Period, the Company may deliver an Advance Notice to the Investor, subject to the conditions
set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Advance
Notice, shall not be more than the Maximum Advance Amount. The aggregate amount of the Advances pursuant to this Agreement shall
not exceed the Commitment Amount. There shall be a minimum of five (5) Trading Days between each Advance Notice Date.

 

(b)Date of Delivery
of Advance Notice. An Advance Notice shall be deemed delivered on (i) the Trading Day it is received by facsimile or otherwise
by the Investor if such notice is received prior to 12:00 noon Eastern Time, or (ii) the immediately succeeding Trading Day if
it is received by facsimile or otherwise after 12:00 noon Eastern Time on a Trading Day or at any time on a day which is not a
Trading Day. No Advance Notice may be deemed delivered on a day that is not a Trading Day.

 

(A)Section
2.3.Closings. On each Advance Date, which shall be the second (2nd) Trading Day after expiration of the applicable
Pricing Period for each Advance, (i) the Company shall deliver to the Investor shares of the Company’s Common Stock, representing
the amount of the Advance by the Investor pursuant to Section 2.1 herein, registered in the name of the Investor and (ii) the Investor
shall deliver to the Company the amount of the Advance specified in the Advance Notice by wire transfer of immediately available
funds. In addition, on or prior to the Advance Date, each of the Company and the Investor shall deliver to the other through the
Investor’s counsel, all documents, instruments and writings required to be delivered by either of them pursuant to this Agreement
in order to implement and effect the transactions contemplated herein. Payment of funds to the Company and delivery of the Company’s
Common Stock to the Investor shall occur in accordance with the conditions set forth above; provided, however, that
to the extent the Company has not paid the fees, expenses, and disbursements of the Investor, the Investor’s counsel, or
the Company’s counsel in accordance with Section 11.4, the amount of such fees, expenses, and disbursements may be deducted
by the Investor (and shall be paid to the relevant party) from the amount of the Advance with no reduction in the amount of shares
of the Company’s Common Stock to be delivered on such Advance Date. No fractional shares shall be issued, and any fractional
amounts shall be rounded to the next higher whole number of shares. The Company understands that a delay in the issuance of shares
of Common Stock beyond the Advance Date could result in economic damage to the Investor. After the Advance Date, as compensation
to the Investor for such loss, the Company agrees to make payments to the Investor for late issuance of shares of Common Stock
in accordance with the following schedule (where “No. of Days Late” is defined as the number of trading days beyond
the Advance Date, with the Amounts being cumulative.):

 

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	LATE PAYMENT FOR EACH NO. OF DAYS LATE
	1	$100
	2	$200
	3	$300
	4	$400
	5	$500
	6	$600
	7	$700
	8	$800
	9	$900
	10	$1000
	Over 10	$1,000 + $200 for each Business Day late beyond 10 days

 

Section 2.4.Termination
of Investment. The obligation of the Investor to make an Advance to the Company pursuant to this Agreement shall terminate
permanently (including with respect to an Advance Date that has not yet occurred) in the event that (i) there shall occur any stop
order or suspension of the effectiveness of the Registration Statement, other than due to the acts of the Investor, during the
Commitment Period, and (ii) the Company shall at any time fail materially to comply with the requirements of Article VI, provided,
however, that this termination provision shall not apply to any period commencing upon the filing of a post-effective amendment
to such Registration Statement and ending upon the date on which such post effective amendment is declared effective by the SEC.

 

Section 2.5.Agreement
to Advance Funds. The Investor agrees to advance the amount specified in the Advance Notice to the Company after the completion
of each of the following conditions and the other conditions set forth in this Agreement:

 

(a)the execution
and delivery by the Company, and the Investor, of this Agreement;

 

(c)the Investor
shall have received the shares of Common Stock applicable to the Advance in accordance with Section 2.3. Such shares shall be free
of restrictive legends and approved for deposit into the Investors brokerage account.

 

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(d)the Company’s
Registration Statement with respect to the resale of the Common Stock shall have been declared effective by the SEC;

 

(e)the Company
shall have obtained all material permits and qualifications required by any applicable state for the offer and sale of the Common
Stock in accordance hereunder, or shall have the availability of exemptions therefrom. The sale and issuance of the Common Stock
shall be legally permitted by all laws and regulations to which the Company is subject;

 

(f)the Company
shall have filed with the Commission in a timely manner all reports, notices and other documents required of a “reporting
company” under the Exchange Act and applicable Commission regulations;

 

(g)the fees as
set forth in Section 11.4 below shall have been paid or can be withheld as provided in Section 2.3; and

 

(h)the conditions
set forth in Section 7.2 shall have been satisfied.

 

(j)the Company’s
transfer agent shall be DWAC eligible.

 

ARTICLE III.

Representations and Warranties of Investor

 

Investor hereby represents
and warrants to, and agrees with, the Company that the following are true and as of the date hereof and as of each Advance Date:

 

Section 3.1.Organization
and Authorization. The Investor is duly incorporated or organized and validly existing in the jurisdiction of its incorporation
or organization and has all requisite power and authority to purchase and hold the securities issuable hereunder. The decision
to invest and the execution and delivery of this Agreement by such Investor, the performance by such Investor of its obligations
hereunder and the consummation by such Investor of the transactions contemplated hereby have been duly authorized and requires
no other proceedings on the part of the Investor. The undersigned has the right, power and authority to execute and deliver this
Agreement and all other instruments (including, without limitations, the Registration Rights Agreement), on behalf of the Investor.
This Agreement has been duly executed and delivered by the Investor and, assuming the execution and delivery hereof and acceptance
thereof by the Company, will constitute the legal, valid and binding obligations of the Investor, enforceable against the Investor
in accordance with its terms.

 

Section 3.2.Evaluation
of Risks. The Investor has such knowledge and experience in financial tax and business matters as to be capable of evaluating
the merits and risks of, and bearing the economic risks entailed by, an investment in the Company and of protecting its interests
in connection with this transaction. It recognizes that its investment in the Company involves a high degree of risk.

 

Section 3.3.No
Legal Advice From the Company. The Investor acknowledges that it had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with his or its own legal counsel and investment and tax advisors. The Investor is relying solely
on such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents
for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities
laws of any jurisdiction.

 

 

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Section 3.4.Investment
Purpose. The securities are being purchased by the Investor for its own account and for investment purposes. The Investor agrees
not to assign or in any way transfer the Investor’s rights to the securities or any interest therein and acknowledges that
the Company will not recognize any purported assignment or transfer except in accordance with applicable Federal and state securities
laws. No other person has or will have a direct or indirect beneficial interest in the securities. The Investor agrees not to sell,
hypothecate or otherwise transfer the Investor’s securities unless the securities are registered under Federal and applicable
state securities laws or unless, in the opinion of counsel satisfactory to the Company, an exemption from such laws is available.

 

Section 3.5.Accredited
Investor. The Investor is an “Accredited Investor” as that term is defined in Rule 501(a)(3) of Regulation
D of the Securities Act.

 

Section 3.6.Information.
The Investor and its advisors (and its counsel), if any, have been furnished with all materials relating to the business, finances
and operations of the Company and information it deemed material to making an informed investment decision. The Investor and its
advisors, if any, have been afforded the opportunity to ask questions of the Company and its management. Neither such inquiries
nor any other due diligence investigations conducted by such Investor or its advisors, if any, or its representatives shall modify,
amend or affect the Investor’s right to rely on the Company’s representations and warranties contained in this Agreement.
The Investor understands that its investment involves a high degree of risk. The Investor is in a position regarding the Company,
which, based upon employment, family relationship or economic bargaining power, enabled and enables such Investor to obtain information
from the Company in order to evaluate the merits and risks of this investment. The Investor has sought such accounting, legal and
tax advice, as it has considered necessary to make an informed investment decision with respect to this transaction.

 

Section 3.7.Receipt
of Documents. The Investor and its counsel has received and read in their entirety: (i) this Agreement; (ii) all due diligence
and other information necessary to verify the accuracy and completeness of such representations, warranties and covenants; and
(iii) answers to all questions the Investor submitted to the Company regarding an investment in the Company; and the Investor
has relied on the information contained therein and has not been furnished any other documents, literature, memorandum or prospectus.

 

Section 3.8.No
General Solicitation. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection
with the offer or sale of the shares of Common Stock offered hereby.

 

Section 3.9.Not
an Affiliate. The Investor is not an officer, director or a person that directly, or indirectly through one or more intermediaries,
controls or is controlled by, or is under common control with the Company or any “Affiliate” of the Company
(as that term is defined in Rule 405 of the Securities Act).

 

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Section 3.10.Trading
Activities. The Investor’s trading activities with respect to the Company’s Common Stock shall be in compliance
with all applicable federal and state securities laws, rules and regulations and the rules and regulations of the Principal Market
on which the Company’s Common Stock is listed or traded. Neither the Investor nor its affiliates has an open short position
in the Common Stock of the Company, the Investor agrees that it shall not, and that it will cause its affiliates not to, engage
in any short sales of or hedging transactions with respect to the Common Stock. The Company acknowledges and agrees that the Investor
may sell the shares owned by the Investor during the Pricing Period.

 

ARTICLE IV.

Representations and Warranties of the Company

 

Except as stated in
the SEC Documents, the Company hereby represents and warrants to, and covenants with, the Investor that the following are true
and correct as of the date hereof:

 

Section 4.1.Organization
and Qualification. The Company is duly incorporated or organized and validly existing in the jurisdiction of its incorporation
or organization and has all requisite power and authority corporate power to own its properties and to carry on its business as
now being conducted. Each of the Company and its subsidiaries is duly qualified as a foreign corporation to do business and is
in good standing in every jurisdiction in which the nature of the business conducted by it makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect on the
Company and its subsidiaries taken as a whole.

 

Section 4.2.Authorization,
Enforcement, Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority to enter into
and perform this Agreement, the Registration Rights Agreement and any related agreements, in accordance with the terms hereof and
thereof, (ii) the execution and delivery of this Agreement, the Registration Rights Agreement and any related agreements by the
Company and the consummation by it of the transactions contemplated hereby and thereby, have been duly authorized by the Company’s
Board of Directors and no further consent or authorization is required by the Company, its Board of Directors or its stockholders,
(iii) this Agreement, the Registration Rights Agreement and any related agreements have been duly executed and delivered by
the Company, (iv) this Agreement, the Registration Rights Agreement and assuming the execution and delivery thereof and acceptance
by the Investor and any related agreements constitute the valid and binding obligations of the Company enforceable against the
Company in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement
of creditors’ rights and remedies.

 

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Section 4.3.Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of 500,000,000 shares of Common Stock, par value $0.0001
per share and 10,000,000 shares of Preferred Stock of which 300,025,242 shares of Common Stock and 0 shares of Preferred Stock
were issued and outstanding. All of such outstanding shares have been validly issued and are fully paid and nonassessable. Except
as disclosed in the SEC Documents, no shares of Common Stock are subject to preemptive rights or any other similar rights or any
liens or encumbrances suffered or permitted by the Company. Except as disclosed in the SEC Documents, as of the date hereof, (i) there
are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries, or contracts,
commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to issue additional
shares of capital stock of the Company or any of its subsidiaries or options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the
Company or any of its subsidiaries, (ii) there are no outstanding debt securities (iii) there are no outstanding registration
statements other than on Form S-8 and (iv) there are no agreements or arrangements under which the Company or any of its subsidiaries
is obligated to register the sale of any of their securities under the Securities Act (except pursuant to the Registration Rights
Agreement). There are no securities or instruments containing anti-dilution or similar provisions that will be triggered by this
Agreement or any related agreement or the consummation of the transactions described herein or therein. The Company has furnished
to the Investor true and correct copies of the Company’s Certificate of Incorporation, as amended and as in effect on the
date hereof (the “Certificate of Incorporation”), and the Company’s By-laws, as in effect on the date
hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock and
the material rights of the holders thereof in respect thereto.

 

Section 4.4.No
Conflict. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the
transactions contemplated hereby will not (i) result in a violation of the Certificate of Incorporation, any certificate of designations
of any outstanding series of preferred stock of the Company or By-laws or (ii) conflict with or constitute a default (or an event
which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries is a party,
or result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and
regulations and the rules and regulations of the Principal Market on which the Common Stock is quoted) applicable to the Company
or any of its subsidiaries or by which any material property or asset of the Company or any of its subsidiaries is bound or affected
and which would cause a Material Adverse Effect. Except as disclosed in the SEC Documents, neither the Company nor its subsidiaries
is in violation of any term of or in default under its Articles of Incorporation or By-laws or their organizational charter or
by-laws, respectively, or any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or
order or any statute, rule or regulation applicable to the Company or its subsidiaries. The business of the Company and its subsidiaries
is not being conducted in violation of any material law, ordinance, regulation of any governmental entity. Except as specifically
contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws, the Company is
not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement or the Registration
Rights Agreement in accordance with the terms hereof or thereof. All consents, authorizations, orders, filings and registrations
which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date
hereof. The Company and its subsidiaries are unaware of any fact or circumstance which might give rise to any of the foregoing.

 

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Section 4.5.Financial
Statements. As of their respective dates, the financial statements of the Company (the “Financial Statements”)
for the two most recently completed fiscal years and any subsequent interim period complied as to form in all material respects
with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto. Such financial
statements have been prepared in accordance with generally accepted accounting principles, consistently applied, during the periods
involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited
interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) and, fairly present in
all material respects the financial position of the Company as of the dates thereof and the results of its operations and cash
flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). No other
information provided by or on behalf of the Company to the Investor contains any untrue statement of a material fact or omits to
state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading.

 

Section 4.6.No
Default. The Company is not in default in the performance or observance of any material obligation, agreement, covenant or
condition contained in any indenture, mortgage, deed of trust or other material instrument or agreement to which it is a party
or by which it is or its property is bound and neither the execution, nor the delivery by the Company, nor the performance by the
Company of its obligations under this Agreement or any of the exhibits or attachments hereto will conflict with or result in the
breach or violation of any of the terms or provisions of, or constitute a default or result in the creation or imposition of any
lien or charge on any assets or properties of the Company under its Certificate of Incorporation, By-Laws, any material indenture,
mortgage, deed of trust or other material agreement applicable to the Company or instrument to which the Company is a party or
by which it is bound, or any statute, or any decree, judgment, order, rules or regulation of any court or governmental agency or
body having jurisdiction over the Company or its properties, in each case which default, lien or charge is likely to cause a Material
Adverse Effect on the Company’s business or financial condition.

 

Section 4.7.Absence
of Events of Default. Except for matters described in the SEC Filings and/or this Agreement, no Event of Default, as defined
in the respective agreement to which the Company is a party, and no event which, with the giving of notice or the passage of time
or both, would become an Event of Default (as so defined), has occurred and is continuing, which would have a Material Adverse
Effect on the Company’s business, properties, prospects, financial condition or results of operations.

 

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Section 4.8.Intellectual
Property Rights. The Company and its subsidiaries own or possess adequate rights or licenses to use all material trademarks,
trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses,
approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses as now conducted.
The Company and its subsidiaries do not have any knowledge of any infringement by the Company or its subsidiaries of trademark,
trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, service marks, service mark registrations,
trade secret or other similar rights of others, and, to the knowledge of the Company, there is no claim, action or proceeding being
made or brought against, or to the Company’s knowledge, being threatened against, the Company or its subsidiaries regarding
trademark, trade name, patents, patent rights, invention, copyright, license, service names, service marks, service mark registrations,
trade secret or other infringement; and the Company and its subsidiaries are unaware of any facts or circumstances which might
give rise to any of the foregoing.

 

Section 4.9.Employee
Relations. Neither the Company nor any of its subsidiaries is involved in any labor dispute or, to the knowledge of the Company
or any of its subsidiaries, is any such dispute threatened. None of the Company’s or its subsidiaries’ employees is
a member of a union and the Company and its subsidiaries believe that their relations with their employees are good.

 

Section 4.10.Environmental
Laws. The Company and its subsidiaries are (i) in compliance with any and all applicable material foreign, federal, state and
local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances
or wastes, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance
with all terms and conditions of any such permit, license or approval.

 

Section 4.11.Title.
The Company has good and marketable title to its properties and material assets owned by it, free and clear of any pledge, lien,
security interest, encumbrance, claim or equitable interest other than such as are not material to the business of the Company.
Any real property and facilities held under lease by the Company and its subsidiaries are held by them under valid, subsisting
and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made
of such property and buildings by the Company and its subsidiaries.

 

Section 4.12.Insurance.
The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company
and its subsidiaries are engaged. Neither the Company nor any such subsidiary has been refused any insurance coverage sought or
applied for and neither the Company nor any such subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings,
business or operations of the Company and its subsidiaries, taken as a whole.

 

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Section 4.13.Regulatory
Permits. The Company and its subsidiaries possess all material certificates, authorizations and permits issued by the appropriate
federal, state or foreign regulatory authorities necessary to conduct their respective businesses, and neither the Company nor
any such subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit.

 

Section 4.14.Internal
Accounting Controls. Except as disclosed in the SEC Filings, the Company and each of its subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s
general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset accountability, (iii) access to assets is permitted
only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

Section 4.15.No
Material Adverse Breaches, etc. Neither the Company nor any of its subsidiaries is subject to any charter, corporate or other
legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers has
or is expected in the future to have a Material Adverse Effect on the business, properties, operations, financial condition, results
of operations or prospects of the Company or its subsidiaries. Except as set forth in the SEC Documents, neither the Company nor
any of its subsidiaries is in breach of any contract or agreement which breach, in the judgment of the Company’s officers,
has or is expected to have a Material Adverse Effect on the business, properties, operations, financial condition, results of operations
or prospects of the Company or its subsidiaries.

 

Section 4.16.Absence
of Litigation. Except as disclosed in the SEC Documents, there is no action, suit, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending against or affecting the Company,
the Common Stock or any of the Company’s subsidiaries, wherein an unfavorable decision, ruling or finding would (i) have
a Material Adverse Effect on the transactions contemplated hereby (ii) adversely affect the validity or enforceability of, or the
authority or ability of the Company to perform its obligations under, this Agreement or any of the documents contemplated herein,
or (iii) except as expressly disclosed in the SEC Documents, have a Material Adverse Effect on the business, operations, properties,
financial condition or results of operation of the Company and its subsidiaries taken as a whole.

 

Section 4.17.Subsidiaries.
Except as disclosed in the SEC Filings, the Company does not presently own or control, directly or indirectly, any material interest
in any other corporation, partnership, association or other business entity.

 

Section 4.18.Tax
Status. Except for the tax returns for the year ended December 31, 2012, the Company and each of its subsidiaries has made
or filed all federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which
it is subject and (unless and only to the extent that the Company and each of its subsidiaries has set aside on its books provisions
reasonably adequate for the payment of all unpaid and unreported taxes) has paid all taxes and other governmental assessments and
charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being
contested in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to
be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

    	12

    	 

    

 

Section 4.19.Certain
Transactions. None of the officers, directors, or employees of the Company is presently a party to any transaction with the
Company (other than for services as employees, officers and directors), including any contract, agreement or other arrangement
providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring
payments to or from any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust
or other entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee
or partner.

 

Section 4.20.Fees
and Rights of First Refusal. The Company is not obligated to offer the securities offered hereunder on a right of first refusal
basis or otherwise to any third parties including, but not limited to, current or former shareholders of the Company, underwriters,
brokers, agents or other third parties.

 

Section 4.21.Use
of Proceeds. The Company shall use the net proceeds from this offering for general corporate purposes, including, without limitation,
the payment of loans incurred by the Company.

 

Section 4.22.Further
Representation and Warranties of the Company. For so long as any securities issuable hereunder held by the Investor remain
outstanding, the Company acknowledges, represents, warrants and agrees that it will maintain the listing of its Common Stock on
the Principal Market.

 

Section 4.23.Opinion
of Counsel. Investor shall receive an opinion letter from counsel to the Company on the date hereof.

 

Section 4.24.Opinion
of Counsel. Investor shall receive an opinion letter from counsel to the Company on the date hereof and the Company will obtain
for the Investor, at the Company’s expense, any and all opinions of counsel which may be reasonably required in order to
sell the Registrable Securities issuable hereunder without restriction.

 

Section 4.25.Dilution.
The Company is aware and acknowledges that issuance of shares of the Company’s Common Stock could cause dilution to existing
shareholders and could significantly increase the outstanding number of shares of Common Stock.

 

Section 4.26.The
Company acknowledges that the Investor is relying on the representations and warranties made by the Company hereunder and that
such representations and warranties are a material inducement to the Investor purchasing the Common Stock. The Company further
acknowledges that without such representations and warranties of the Company made hereunder, the Investor would not enter into
this Agreement.

 

    	13

    	 

    

 

ARTICLE V.

Indemnification

 

The Investor and the
Company represent to the other the following with respect to itself:

 

Section 5.1.Indemnification.

 

(a)In consideration
of the Investor’s execution and delivery of this Agreement, and in addition to all of the Company’s other obligations
under this Agreement, the Company shall defend, protect, indemnify and hold harmless the Investor, and all of its officers, directors,
partners, employees and agents (including, without limitation, those retained in connection with the transactions contemplated
by this Agreement) (collectively, the “Investor Indemnitees”) from and against any and all actions, causes of
action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective
of whether any such Investor Indemnitee is a party to the action for which indemnification hereunder is sought), and including
reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by the Investor
Indemnitees or any of them as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation
or warranty made by the Company in this Agreement or the Registration Rights Agreement or any other certificate, instrument or
document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this
Agreement or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby,
or (c) any cause of action, suit or claim brought or made against such Investor Indemnitee not arising out of any action or inaction
of an Investor Indemnitee, and arising out of or resulting from the execution, delivery, performance or enforcement of this Agreement
or any other instrument, document or agreement executed pursuant hereto by any of the Investor Indemnitees. To the extent that
the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to
the payment and satisfaction of each of the Indemnified Liabilities, which is permissible under applicable law.

 

(b)In consideration
of the Company’s execution and delivery of this Agreement, and in addition to all of the Investor’s other obligations
under this Agreement, the Investor shall defend, protect, indemnify and hold harmless the Company and all of its officers, directors,
shareholders, employees and agents (including, without limitation, those retained in connection with the transactions contemplated
by this Agreement) (collectively, the “Company Indemnitees”) from and against any and all Indemnified Liabilities
incurred by the Company Indemnitees or any of them as a result of, or arising out of, or relating to (a) any misrepresentation
or breach of any representation or warranty made by the Investor in this Agreement, the Registration Rights Agreement, or any instrument
or document contemplated hereby or thereby executed by the Investor, (b) any breach of any covenant, agreement or obligation of
the Investor(s) contained in this Agreement, the Registration Rights Agreement or any other certificate, instrument or document
contemplated hereby or thereby executed by the Investor, or (c) any cause of action, suit or claim brought or made against such
Company Indemnitee based on misrepresentations or due to a breach by the Investor and arising out of or resulting from the execution,
delivery, performance or enforcement of this Agreement or any other instrument, document or agreement executed pursuant hereto
by any of the Company Indemnitees. To the extent that the foregoing undertaking by the Investor may be unenforceable for any reason,
the Investor shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities, which
is permissible under applicable law.

 

(c)The obligations
of the parties to indemnify or make contribution under this Section 5.1 shall survive termination.

 

    	14

    	 

    

 

 

ARTICLE VI.

Covenants of the Company

 

Section 6.1.Listing
of Common Stock. The Company shall maintain the Common Stock’s authorization for quotation on the FINRA’s Over
the Counter Bulletin Board.

 

Section 6.2.Exchange
Act Registration. The Company file in a timely manner all reports and other documents required of it as a reporting company
under the Exchange Act and will not take any action or file any document (whether or not permitted by Exchange Act or the rules
thereunder) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under said
Exchange Act.

 

Section 6.3.Transfer
Agent Instructions. Upon effectiveness of the Registration Statement the Company shall deliver instructions to its transfer
agent to issue shares of Common Stock to the Investor free of restrictive legends on or before each Advance Date

 

Section 6.4.Corporate
Existence. The Company will take all steps necessary to preserve and continue the corporate existence of the Company.

 

Section 6.5.Notice
of Certain Events Affecting Registration; Suspension of Right to Make an Advance. The Company will immediately notify the Investor
upon its becoming aware of the occurrence of any of the following events in respect of a registration statement or related prospectus
relating to an offering of Common Stock: (i) receipt of any request for additional information by the SEC or any other Federal
or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements
to the registration statement or related prospectus; (ii) the issuance by the SEC or any other Federal or state governmental authority
of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose;
(iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of
the Common Stock for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the happening
of any event that makes any statement made in the Registration Statement or related prospectus of any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the
Registration Statement, related prospectus or documents so that, in the case of the Registration Statement, it will not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading; and (v) the Company’s reasonable determination
that a post-effective amendment to the Registration Statement would be appropriate; and the Company will promptly make available
to the Investor any such supplement or amendment to the related prospectus. The Company shall not deliver to the Investor any Advance
Notice during the continuation of any of the foregoing events.

 

    	15

    	 

    

 

Section 6.8.Consolidation;
Merger. The Company shall not, at any time after the date hereof, effect any merger or consolidation of the Company with or
into, or a transfer of all or substantially all the assets of the Company to another entity (a “Consolidation Event”)
unless the resulting successor or acquiring entity (if not the Company) assumes by written instrument the obligation to deliver
to the Investor such shares of stock and/or securities as the Investor is entitled to receive pursuant to this Agreement.

 

Section 6.9.Issuance
of the Company’s Common Stock. The sale of the shares of Common Stock shall be made in accordance with the provisions
and requirements of Regulation D and any applicable state securities law.

 

ARTICLE VII.

Conditions for Advance and Conditions to Closing

 

Section 7.1.Conditions
Precedent to the Obligations of the Company. The obligation hereunder of the Company to issue and sell the shares of Common
Stock to the Investor incident to each Closing is subject to the satisfaction, or waiver by the Company, at or before each such
Closing, of each of the conditions set forth below.

 

(a)Accuracy of
the Investor’s Representations and Warranties. The representations and warranties of the Investor shall be true and correct
in all material respects.

 

(b)Performance
by the Investor. The Investor shall have performed, satisfied and complied in all respects with all covenants, agreements and
conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the
Investor at or prior to such Closing.

 

Section 7.2.Conditions
Precedent to the Right of the Company to Deliver an Advance Notice and the Obligation of the Investor to Purchase Shares of Common
Stock. The right of the Company to deliver an Advance Notice and the obligation of the Investor hereunder to acquire and pay
for shares of the Company’s Common Stock incident to a Closing is subject to the fulfillment by the Company, on (i) the date
of delivery of such Advance Notice and (ii) the applicable Advance Date (each a “Condition Satisfaction Date”),
of each of the following conditions:

 

(a)Listing of
the Company’s Common Stock.The Company’s Common Stock shall have be authorized for quotation on the FINRA’s
Over the Counter Bulletin Board.

 

(b)Registration
of the Common Stock with the SEC. The Company shall have filed with the SEC a Registration Statement with respect to the resale
of the Common Stock. The Registration Statement shall have previously become effective and shall remain effective on each Condition
Satisfaction Date and (i) neither the Company nor the Investor shall have received notice that the SEC has issued or intends to
issue a stop order with respect to the Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness
of the Registration Statement, either temporarily or permanently, or intends or has threatened to do so (unless the SEC’s
concerns have been addressed and the Investor is reasonably satisfied that the SEC no longer is considering or intends to take
such action), and (ii) no other suspension of the use or withdrawal of the effectiveness of the Registration Statement or related
prospectus shall exist. The Registration Statement must have been declared effective by the SEC prior to the first Advance Notice
Date.

 

    	16

    	 

    

 

(c)Authority.
The Company shall have obtained all permits and qualifications required by any applicable state in accordance with the Registration
Rights Agreement for the offer and sale of the shares of Common Stock, or shall have the availability of exemptions therefrom.
The sale and issuance of the shares of Common Stock shall be legally permitted by all laws and regulations to which the Company
is subject.

 

(d)Fundamental
Changes. There shall not exist any fundamental changes to the information set forth in the Registration Statement which would
require the Company to file a post-effective amendment to the Registration Statement.

 

(e)Performance
by the Company. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement (including, without limitation, the conditions specified in Section 2.5 hereof)
and the Registration Rights Agreement to be performed, satisfied or complied with by the Company at or prior to each Condition
Satisfaction Date.

 

(f)No Injunction.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction that prohibits or directly and adversely affects any of the transactions
contemplated by this Agreement, and no proceeding shall have been commenced that may have the effect of prohibiting or adversely
affecting any of the transactions contemplated by this Agreement.

 

(g)No Suspension
of Trading in or Delisting of Common Stock. The trading of the Common Stock has commenced on the Principal Market and has not
suspended by the SEC or the Principal Market (if the Common Stock is traded on a Principal Market). The issuance of shares of Common
Stock with respect to the applicable Closing, if any, shall not violate the shareholder approval requirements of the Principal
Market (if the Common Stock is traded on a Principal Market). The Company shall not have received any notice threatening the continued
listing of the Common Stock on the Principal Market (if the Common Stock is traded on a Principal Market).

 

(h)Maximum Advance
Amount. The amount of an Advance requested by the Company shall not exceed the Maximum Advance Amount. In addition, in no event
shall the number of shares issuable to the Investor pursuant to an Advance cause the aggregate number of shares of Common Stock
beneficially owned by the Investor and its affiliates to exceed four and 9/10 percent (4.9%) of the then outstanding Common Stock
of the Company. For the purposes of this section beneficial ownership shall be calculated in accordance with Section 13(d) of the
Exchange Act.

 

    	17

    	 

    

 

(i)No Knowledge.
The Company has no knowledge of any event which would be more likely than not to have the effect of causing such Registration Statement
to be suspended or otherwise ineffective.

 

(j)Other.
On each Condition Satisfaction Date, the Investor shall have received the certificate executed by an officer of the Company in
the form of Exhibit A attached hereto.

 

ARTICLE VIII.

Choice of Law/Jurisdiction

 

Section 8.1.Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in
the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery
(with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law. The parties hereby waive all rights to a trial by jury.
If either party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then the prevailing
party in such action or proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such action or proceeding.

 

ARTICLE IX.

Assignment; Termination

 

Section 9.1.Assignment.
Neither this Agreement nor any rights of the Company hereunder may be assigned to any other Person.

 

Section 9.2.Termination.
The obligations of the Investor to make Advances under Article II hereof shall terminate twenty-four (24) months after the Effective
Date.

 

    	18

    	 

    

 

ARTICLE X.

Notices

 

Section 10.1.Notices.
Any notices, consents, waivers, or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile, provided a copy is mailed by U.S. certified mail, return receipt requested; (iii) three (3) days after being sent
by U.S. certified mail, return receipt requested, or (iv) one (1) day after deposit with a nationally recognized overnight delivery
service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications
shall be:

 

	If to the Company, to:	Solar Wind Energy Tower, Inc.
	 	
        1997 Annapolis Exchange Parkway, Suite 300

        Annapolis, Maryland 21401

	 	 
	 	Attention: Chief Executive Officer
	 	Telephone:  (410) 972-4713
	 	Facsimile:   (410) 972-4701
	 	 
	With a copy to:	Anslow & Jaclin, LLP
	 	195 Route 9 South
	 	Manalapan, New Jersey 07726
	 	Attention:Gregg Jaclin
	 	Telephone:(732) 409-1212
	 	Facsimile:(732) 577-1188
	 	 
	If to the Investor(s):	Beaufort Ventures PLC
	 	 
	 	 
	 	Attention:
	 	Telephone:
	 	Facsimile:
	 	 
	With a Copy to:	Sichenzia Ross Friedman Ference LLP
	 	61 Broadway, 32nd flr.
	 	New York, NY 10006
	 	
        Attention: Darrin M. Ocasio

        Telephone:212-930-9700

	 	Facsimile:212-930-9725
	 	 

Each party shall provide five (5) days’
prior written notice to the other party of any change in address or facsimile number.

 

    	19

    	 

    

 

ARTICLE XI.

Miscellaneous

 

Section 11.1.Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event any
signature page is delivered by facsimile transmission, the party using such means of delivery shall cause four (4) additional original
executed signature pages to be physically delivered to the other party within five (5) days of the execution and delivery hereof,
though failure to deliver such copies shall not affect the validity of this Agreement.

 

Section 11.2.Entire
Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Investor, the Company,
their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except
as specifically set forth herein or therein, neither the Company nor the Investor makes any representation, warranty, covenant
or undertaking with respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument
in writing signed by the party to be charged with enforcement.

 

Section 11.3.Reporting
Entity for the Common Stock. The reporting entity relied upon for the determination of the trading price or trading volume
of the Common Stock on any given Trading Day for the purposes of this Agreement shall be Bloomberg, L.P. or any successor thereto.
The written mutual consent of the Investor and the Company shall be required to employ any other reporting entity.

 

Section 11.4.Fees
and Expenses. The Company hereby agrees to pay the following fees:

 

(a)Implementation
Fees. In consideration of the commitment being made by the Investor hereunder, the Company shall, upon the execution of this
Agreement, issue to the Investor:

 

(i)an Original
Issue Discount Secured Promissory Note in the aggregate principal amount of $97,500.00 in the form of Exhibit C attached
hereto.

 

(b)Legal Fees
and Expenses.The Company shall pay the Investor $5,000 for legal expenses.

 

Section 11.5.Brokerage.
Each of the parties hereto represents that it has had no dealings in connection with this transaction with any finder or broker
who will demand payment of any fee or commission from the other party. The Company on the one hand, and the Investor, on the other
hand, agree to indemnify the other against and hold the other harmless from any and all liabilities to any person claiming brokerage
commissions or finder’s fees on account of services purported to have been rendered on behalf of the indemnifying party in
connection with this Agreement or the transactions contemplated hereby.

 

Section 11.6.Confidentiality.
If for any reason the transactions contemplated by this Agreement are not consummated, each of the parties hereto shall keep confidential
any information obtained from any other party (except information publicly available or in such party’s domain prior to the
date hereof, and except as required by court order) and shall promptly return to the other parties all schedules, documents, instruments,
work papers or other written information without retaining copies thereof, previously furnished by it as a result of this Agreement
or in connection herein.

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

    	20Exhibit 10.12

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of June 11, 2013, is between BEAUFORT VENTURES PLC,
a Nevada corporation (the “Investor”), and SOLAR WIND ENERGY TOWER, INC., a corporation organized
and existing under the laws of the State of Nevada (the “Company”).

 

WHEREAS:

 

A.In connection
with the Committed Equity Facility Agreement by and between the parties hereto of even date herewith (the “Committed
Equity Facility Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Committed
Equity Facility Agreement, to issue and sell to the Investor that number of shares of the Company’s common stock, par value
$0.001 per share (the “Common Stock”), which can be purchased pursuant to the terms of the Committed
Equity Facility Agreement for an aggregate purchase price of up to $3,000,000. Capitalized terms not defined herein shall have
the meaning ascribed to them in the Committed Equity Facility Agreement.

 

B.To induce the
Investor to execute and deliver the Committed Equity Facility Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute
(collectively, the “Securities Act”), and applicable state securities laws.

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

1.              
DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

“Effectiveness
Date” means, with respect to the initial Registration Statement required to be filed hereunder, the 90th
calendar day following the date hereof. In the event the Company is notified by the Commission that the Registration Statement
will not be reviewed or is no longer subject to further review and comments, the Effectiveness Date as to such Registration Statement
shall be the fifth Trading Day following the date on which the Company is so notified if such date precedes the dates required
above.

 

“Filing
Date” means, with respect to the initial Registration Statement required hereunder, the 15th calendar
day following the date hereof and, with respect to any additional Registration Statements which may be required, the 20th
day following the date on which the Company first knows, or reasonably should have known that such additional Registration Statement
is required hereunder.

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

    	1

    	 

    

 

“Registration
Statement” means the registration statement required to be filed hereunder and any additional registration statements
contemplated by Section 2 hereof, including (in each case) the Prospectus, amendments and supplements to such registration
statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference
or deemed to be incorporated by reference in such registration statement.

 

“Rule
415” means Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the SEC having substantially the same purpose and effect as such
Rule.

 

2.              
REGISTRATION.

 

a.               
Filing of a Registration Statement. The Company shall prepare and file with the SEC a Registration Statement,
or multiple Registration Statements, on Form S-1 (or if the Company is then eligible, on Form S-3) for the resale by the Investor
of the Registrable Securities by the Filing Date. Pursuant to the Committed Equity Facility Agreement, the Company shall not have
the ability to make any Advances until the effectiveness of a Registration Statement. Each Registration Statement shall contain
the “Plan of Distribution” section in substantially the form attached hereto as Exhibit A
and contain all the required disclosures set forth on Exhibit B.

 

b.              
Maintaining a Registration Statement. Subject to the terms of this Agreement, the Company shall use its best
efforts to cause a Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing
thereof, but in any event prior to the applicable Effectiveness Date, and shall use its best efforts to keep such Registration
Statement continuously effective under the Securities Act until all Registrable Securities covered by such Registration Statement
are sold (the “Effectiveness Period”). The Company shall telephonically request effectiveness of a Registration
Statement as of 5:00 pm Eastern Time on a Trading Day. The Company shall immediately notify the Investors via facsimile of the
effectiveness of a Registration Statement on the same Trading Day that the Company telephonically confirms effectiveness with the
Commission, which shall be the date requested for effectiveness of a Registration Statement. The Company shall, by 9:30 am Eastern
Time on the Trading Day after the Effective Date, file a Form 424(b)(5) with the Commission. Failure to so notify the Investor
within 1 Trading Day of such notification shall be deemed an Event under Section 2(d). Each Registration Statement (including any
amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading.

 

    	2

    	 

    

 

c.               
Filing Procedures. Prior to the filing of any Registration Statement with the SEC, the Company shall furnish
a draft of such Registration Statement to the Investor for its review and comment. The Investor shall furnish comments on a Registration
Statement to the Company within twenty four (24) hours of the receipt thereof.

 

d.              
Events: If: (i) a Registration Statement is not filed on or prior to its Filing Date (if the Company files
a Registration Statement without affording the Investors the opportunity to review and comment on the same as required by Section
2(c), the Company shall not be deemed to have satisfied this clause (i)), or (ii) the Company fails to file with the Commission
a request for acceleration in accordance with Rule 461 promulgated under the Securities Act, within five Trading Days of the date
that the Company is notified (orally or in writing, whichever is earlier) by the Commission that a Registration Statement will
not be “reviewed,” or not subject to further review, or (iii) prior to its Effectiveness Date, the Company fails to
file a pre-effective amendment and otherwise respond in writing to comments made by the Commission in respect of such Registration
Statement within 10 calendar days after the receipt of comments by or notice from the Commission that such amendment is required
in order for a Registration Statement to be declared effective, or (iv) a Registration Statement filed or required to be filed
hereunder is not declared effective by the Commission by its Effectiveness Date, or (v) after the Effectiveness Date, a Registration
Statement ceases for any reason to remain continuously effective as to all Registrable Securities for which it is required to be
effective, or the Investors are not permitted to utilize the Prospectus therein to resell such Registrable Securities for 10 consecutive
calendar days but no more than an aggregate of 15 calendar days during any 12-month period (which need not be consecutive Trading
Days) (any such failure or breach being referred to as an “Event”, and for purposes of clause (i) or
(iv) the date on which such Event occurs, or for purposes of clause (ii) the date on which such five Trading Day period is exceeded,
or for purposes of clause (iii) the date which such 10 calendar day period is exceeded, or for purposes of clause (v) the date
on which such 10 or 15 calendar day period, as applicable, is exceeded being referred to as “Event Date”).
In addition to any other rights the Investors may have hereunder or under applicable law, such Event Date shall trigger an event
of default under the Original Issue Discount Secured Promissory Note issued by the Company to the Investor.

 

3.              
RELATED OBLIGATIONS.

 

a.               
The Company shall, not less than three (3) business days prior to the filing of a Registration Statement and not less than
one (1) business day prior to the filing of any related amendments and supplements to all Registration Statements (except for annual
or quarterly reports on Forms 10-K and 10-Q, respectively), furnish to the Investor copies of all such documents proposed to be
filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the reasonable
and prompt review of the Investor, but under no circumstances shall the Investor have more than twenty four (24) hours to review
the documents.

 

 

    	3

    	 

    

 

b.              
The Company shall (i) prepare and file with the SEC such amendments (including post-effective amendments) and supplements
to a Registration Statement and the Prospectus used in connection with such Registration Statement, which prospectus is to be filed
pursuant to Rule 424 promulgated under the Securities Act, as may be necessary to keep such Registration Statement effective at
all times during the Registration Period, and prepare and file with the SEC such additional Registration Statements in order to
register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to be amended
or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and as so supplemented or amended
to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably possible to any comments received from the SEC with respect
to a Registration Statement or any amendment thereto and as promptly as reasonably possible provide the Investors true and complete
copies of all correspondence from and to the SEC relating to a Registration Statement (provided that the Company may excise any
information contained therein which would constitute material non-public information as to any Investor which has not executed
a confidentiality agreement with the Company); and (iv) comply with the provisions of the Securities Act with respect to the disposition
of all Registrable Securities of the Company covered by such Registration Statement until such time as all of such Registrable
Securities shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof
as set forth in such Registration Statement. In the case of amendments and supplements to a Registration Statement which are required
to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of the Company’s filing a report
on Form 10-K, Form 10-Q, or Form 8-K or any analogous report under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), the Company shall incorporate such report by reference into the Registration Statement, if applicable, or
shall file such amendments or supplements with the SEC in a timely manner, but in any event no longer than three (3) Business Days
after the date on which the Exchange Act report is filed which created the requirement for the Company to amend or supplement the
Registration Statement.

 

c.               
The Company shall furnish to the Investor without charge, (i) at least one (1) copy of such Registration Statement as declared
effective by the SEC and any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein
by reference, all exhibits and each preliminary prospectus, (ii) 10 copies of the final prospectus included in such Registration
Statement and all amendments and supplements thereto (or such other number of copies as the Investor may reasonably request) and
(iii) such other documents as the Investor may reasonably request from time to time in order to facilitate the disposition of the
Registrable Securities owned by the Investor.

 

d.              
The Company shall use its best efforts to (i) register and qualify the Registrable Securities covered by a Registration
Statement under such other securities or “blue sky” laws of such jurisdictions in the United States as the Investor
reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and
supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration
Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times
during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities
for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (w) make any change to its certificate of incorporation or by-laws, (x) qualify to do business in any jurisdiction where
it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in any such jurisdiction,
or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify the Investor of
the receipt by the Company of any notification with respect to the suspension of the registration or qualification of any of the
Registrable Securities for sale under the securities or “blue sky” laws of any jurisdiction in the United States or
its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

 

    	4

    	 

    

 

e.               
If, pursuant to Section 3(d) above, the Company becomes aware of an event or development, the result of which causes the
Prospectus included in the Registration Statement, as then in effect, to include an untrue statement of a material fact or omission,
to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading (provided that in no event shall such notice contain any material, nonpublic information),
as promptly as practicable after becoming aware of such event or development, the Company shall notify the Investor in writing
of the happening of such event or development, and promptly prepare a supplement or amendment to such Registration Statement to
correct such untrue statement or omission, and deliver 10 copies of such supplement or amendment to the Investor. The Company shall
also promptly notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has
been filed, and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness
shall be delivered to the Investor by facsimile on the same day of such effectiveness), and (ii) of any request by the SEC for
amendments or supplements to a Registration Statement or related prospectus or related information.

 

f.               
The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of
a Registration Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction
within the United States of America and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension
at the earliest possible moment and to notify the Investor of the issuance of such order and the resolution thereof or its receipt
of actual notice of the initiation or threat of any proceeding for such purpose.

 

g.              
If, after the execution of this Agreement, the Investor believes, after consultation with its legal counsel, that it could
reasonably be deemed to be an underwriter of Registrable Securities, at the request of the Investor, the Company shall furnish
to the Investor, on the date of the effectiveness of the Registration Statement and thereafter from time to time on such dates
as the Investor may reasonably request (i) a letter, dated such date, from the Company’s independent certified public accountants
in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public
offering, and (ii) an opinion, dated as of such date, of counsel representing the Company for purposes of such Registration Statement,
in form, scope and substance as is customarily given in an underwritten public offering, addressed to the Investor.

 

    	5

    	 

    

 

 

h.              
If, after the execution of this Agreement, the Investor believes, after consultation with its legal counsel, that it could
reasonably be deemed to be an underwriter of Registrable Securities, at the request of the Investor, the Company shall make available
for inspection by (i) the Investor and (ii)  one firm of accountants or other agents retained by the Investor (collectively,
the “Inspectors”) all pertinent financial and other records, and pertinent corporate documents and properties
of the Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector,
and cause the Company’s officers, directors and employees to supply all information which any Inspector may reasonably request;
provided, however, that each Inspector shall agree, and the Investor hereby agrees, to hold in strict confidence and shall not
make any disclosure (except to an Investor) or use any Record or other information which the Company determines in good faith to
be confidential, and of which determination the Inspectors are so notified, unless (a) the disclosure of such Records is necessary
to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required under the Securities Act,
(b) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government body
of competent jurisdiction, or (c) the information in such Records has been made generally available to the public other than by
disclosure in violation of this or any other agreement of which the Inspector and the Investor has knowledge. The Investor agrees
that it shall, upon learning that disclosure of such Records is sought in or by a court or governmental body of competent jurisdiction
or through other means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate action
to prevent disclosure of, or to obtain a protective order for, the Records deemed confidential.

 

i.                
The Company shall hold in confidence and not make any disclosure of information concerning the Investor provided to the
Company unless (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure
of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release
of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of
competent jurisdiction, or (iv) such information has been made generally available to the public other than by disclosure in violation
of this Agreement or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning
the Investor is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt written
notice to the Investor and allow the Investor, at the Investor’s expense, to undertake appropriate action to prevent disclosure
of, or to obtain a protective order for, such information.

 

j.                
The Company shall use its best efforts either to cause all the Registrable Securities covered by a Registration Statement
(i) to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed,
if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or to secure the inclusion
for quotation on the OTC Bulletin Board for such Registrable Securities. The Company shall pay all fees and expenses in connection
with satisfying its obligation under this Section 3(j).

 

k.              
The Company shall cooperate with the Investor, to the extent applicable, to facilitate the timely preparation and delivery
of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered pursuant to a Registration
Statement and enable such certificates to be in such denominations or amounts, as the case may be, as the Investor may reasonably
request and registered in such names as the Investor may request.

 

    	6

    	 

    

 

l.                
The Company shall use its best efforts to cause the Registrable Securities covered by the applicable Registration Statement
to be registered with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition
of such Registrable Securities.

 

m.            
The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection
with any registration hereunder.

 

n.              
Within three (3) business days after a Registration Statement which covers Registrable Securities is ordered effective by
the SEC, the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Investor) confirmation that such Registration Statement has been declared effective by the SEC in
the form attached hereto as Exhibit C.

 

o.              
The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of
Registrable Securities pursuant to a Registration Statement.

 

4.              
OBLIGATIONS OF THE INVESTOR.

 

a.               
The Investor agrees that, upon receipt of any notice from the Company of the (i) the happening of any event or development,
following which the prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material
fact or fails to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, or (ii) the issuance of any stop order or other suspension of effectiveness
of a Registration Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction
within the United States of America, the Investor will immediately discontinue disposition of Registrable Securities pursuant to
any Registration Statement(s) covering such Registrable Securities until the Investor’s receipt of written notice from the
Company indicating that such event has been cured and confirming that re-sales may be made pursuant to such Registration Statement.
Notwithstanding anything to the contrary, the Company shall cause its transfer agent to deliver unlegended certificates for shares
of Common Stock to a transferee of the Investor in accordance with the terms of the Committed Equity Facility Agreement in connection
with any sale of Registrable Securities with respect to which the Investor has entered into a contract for sale prior to the Investor’s
receipt of a notice from the Company described in this section and for which the Investor has not yet settled.

 

b.              
Registrable

 

5.              
EXPENSES OF REGISTRATION.

All expenses incurred
in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration,
listing and qualifications fees, printers, legal and accounting fees shall be paid by the Company.

 

    	7

    	 

    

 

 

6.              
INDEMNIFICATION.

 

With respect to Registrable
Securities which are included in a Registration Statement under this Agreement:

 

a.               
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor,
the directors, officers, partners, employees, agents, representatives of, and each Person, if any, who controls the Investor within
the meaning of the Securities Act or the Exchange Act (each, an “Indemnified Person”), against any losses, claims,
damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement
or expenses, joint or several (collectively, “Claims”) incurred in investigating, preparing or defending any
action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental,
administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party
is or may be a party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such
Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any
untrue statement or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto
or in any filing made in connection with the qualification of the offering under the securities or other “blue sky”
laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”), or the omission
or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(ii) any untrue statement or alleged untrue statement of a material fact contained in any final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission
to state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the
statements therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation there under
relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement (the matters in the foregoing
clauses (i) through (iii) being, collectively, “Violations”). The Company shall reimburse the Investor and each
such controlling person promptly as such expenses are incurred and are due and payable, for any legal fees or disbursements or
other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything
to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (x) shall not apply to a Claim
by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information
furnished in writing to the Company by such Indemnified Person expressly for use in connection with the preparation of the Registration
Statement or any such amendment thereof or supplement thereto; (y) shall not be available to the extent such Claim is based on
a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the Company, if such prospectus
was timely made available by the Company pursuant to Section 3(e); and (z) shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably
withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified
Person and shall survive the transfer of the Registrable Securities by the Investor.

 

    	8

    	 

    

 

b.              
In connection with a Registration Statement, the Investor agrees to indemnify, hold harmless and defend, to the same extent
and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers who signs the
Registration Statement and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange
Act (each an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become
subject, under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or
is based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and
in conformity with written information furnished to the Company by the Investor expressly for use in connection with such Registration
Statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained in this Section
6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably
withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for only that amount of a Claim
or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable Securities pursuant
to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(b) with respect to any prospectus
shall not inure to the benefit of any Indemnified Party if the untrue statement or omission of material fact contained in the prospectus
was corrected and such new prospectus was delivered to the Investor prior to the Investor’s use of the prospectus to which
the Claim relates.

 

c.               
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement
of any action or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified
Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying
party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to
the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of
the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified
Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its
own counsel with the fees and expenses of not more than one counsel for such Indemnified Person or Indemnified Party to be paid
by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such
counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such
proceeding. The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in connection with any
negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information
reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying party
shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement
negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding
effected without its prior written consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay
or condition its consent. No indemnifying party shall, without the prior written consent of the Indemnified Party or Indemnified
Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability
in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated
to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

    	9

    	 

    

 

d.              
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course
of the investigation or defense, as and when bills are received or Indemnified Damages are incurred.

 

e.               
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified
Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject
to pursuant to the law

 

f.               
The obligations of the parties under this Section 6 and the below Section 7 to indemnify or make contributions to the payment
and satisfaction of each of the Claims Section 5.01shall survive the termination of this Agreement.

 

7.              
CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

8.              
REPORTS UNDER THE EXCHANGE ACT.

 

With a view to making
available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any similar rule or regulation of the
SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”) the Company agrees to:

 

a.               
make and keep public information available, as those terms are understood and defined in Rule 144;

 

 

    	10

    	 

    

 

b.              
file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and
the Exchange Act so long as the Company remains subject to such requirements (it being understood that nothing herein shall limit
the Company’s obligations under Section 6.3 of the Committed Equity Facility Agreement) and the filing of such reports and
other documents is required for the applicable provisions of Rule 144; and

 

c.               
furnish to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement
by the Company that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act and (ii)
any such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without
registration.

 

9.              
AMENDMENT OF REGISTRATION RIGHTS.

 

Provisions of this
Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively
or prospectively), only by a written agreement between the Company and the Investor. Any amendment or waiver effected in accordance
with this Section 9 shall be binding upon the Investor and the Company. No consideration shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of any of this Agreement unless the same consideration also is
offered to all of the parties to this Agreement.

 

10.           
MISCELLANEOUS.

 

a.               
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such
Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect
to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the
registered owner of such Registrable Securities.

 

b.              
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); or (iii) one business day after deposit with a nationally recognized overnight delivery service, in each case properly
addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

	If to the Company, to:	Solar Wind Energy Tower, Inc.
	 	
        1997 Annapolis Exchange Parkway, Suite 300

        Annapolis, Maryland 21401

	 	 
	 	Attention:  Chief Executive Officer
	 	Telephone:(410) 972-4713
	 	Facsimile:(410) 972-4701
	 	 

 

    	11

    	 

    

 

 

	 	 
	With a copy to:	Anslow & Jaclin, LLP
	 	
        Attention: Gregg Jaclin

        195 Route 9 South

        Manalapan, New Jersey 07726

	 	 
	 	Telephone:(732) 409-1212
	 	Facsimile:(732) 577-1188
	 	 
	If to the Investor, to:	Beaufort Ventures PLC
	 	 
	 	 
	 	Attention:
	 	Telephone:
	 	Facsimile:
	
        With a copy to:
	 
	 	
        Attention:

        61 Broadway

	 	New York, NY 10006
	 	Telephone:(212) 930-9700
	 	
        Facsimile:(212) 930-9725

 

Any party may change its address by providing
written notice to the other parties hereto at least five days prior to the effectiveness of such change. Written confirmation of
receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated
by the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of
such transmission or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal service, receipt
by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above,
respectively.

 

c.               
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising
such right or remedy, shall not operate as a waiver thereof.

 

d.              
The corporate laws of the State of New York shall govern all issues concerning the relative rights of the Company and the
Investor. All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be
governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision
or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of New York. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the Supreme Court
of the State of New York, sitting in New York County, New York and the Federal District Court for the Southern District of New
York sitting in Manhattan, New York, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction,
such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	12

    	 

    

 

e.               
This Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties
hereto.

 

f.               
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof.

 

g.              
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by
facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

h.              
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order
to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

i.                
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent
and no rules of strict construction will be applied against any party.

 

j.                
This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns,
and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

 

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