Document:

Exhibit
4.1

      

       

      AMENDMENT
NO. 5

      to

      RIGHTS
AGREEMENT

      between

      

      BEACON
POWER CORPORATION

      and

      COMPUTERSHARE
TRUST COMPANY, N.A.

      (fka
EQUISERVE TRUST COMPANY, N.A.)

      

      Dated as
of June 19, 2009

      

      This
AMENDMENT NO. 5, dated as of June 19, 2009 to Rights Agreement, dated as of
September 25, 2002, as previously amended by Amendment No. 1 dated as of
December 27, 2002, Amendment No. 2 dated as of August 8, 2007, Amendment No. 3
dated as of October 24, 2007, and Amendment No. 4 dated as of February 18, 2009
(as amended, the “Rights Agreement”),
is between Beacon Power Corporation, a Delaware corporation (the “Company”), and
Computershare Trust Company, N.A. (fka EquiServe Trust Company, N.A.), as
Rights Agent (the “Rights
Agent”).  Capitalized terms used but not defined herein have
the meanings ascribed to such terms in the Rights Agreement.

      

      WHEREAS
the Board has previously excluded from the beneficial ownership of Seaside 88,
LP, a Florida limited partnership (“Seaside”) the shares it has a right to
acquire (but not shares that it has actually acquired) pursuant to that certain
Common Stock Purchase Agreement dated as of February 19, 2009, between Seaside
and the Company; and

      

      WHEREAS
the Company and Seaside anticipate entering into one or more amendments to such
Common Stock Purchase Agreement;

      

      NOW
THEREFORE, in consideration of the premises and mutual agreements contained
herein, the parties hereto pursuant to Section 27 of the Rights Agreement agree
as follows:

      

      
        	
                1. 

              	
                Amendments. The
      Rights Agreement is amended as
follows:

              

      

       

      
        	
              	
                1.1 

              	
                Paragraph
      (ii) of Section 1(d) (whose preamble is “(d) A Person shall be deemed the
      “Beneficial Owner” of, a Person’s “Beneficial Ownership” shall include and
      a Person shall be deemed to “beneficially own” any securities:”) is
      amended and restated in its entirety to read as
  follows:

              

      

      

      “(ii)
which such Person or any of such Person's Affiliates or Associates has (1) the
right to acquire (whether such right is exercisable immediately or only after
the passage of time) pursuant to any agreement, arrangement or understanding
(other than customary agreements with and between underwriters and selling group
member with respect to a bona fide public offering of securities), or upon the
exercise of conversion rights, exchange rights, rights (other than these
Rights), warrants or options, or otherwise; provided, however, that a Person
shall not be deemed the Beneficial Owner of, or to beneficially own, (x)
securities tendered pursuant to a tender or exchange offer made by or on behalf
of such Person or any of such Person's Affiliates or Associates until such
tendered securities are accepted for purchase or exchange or (y) securities
which might be otherwise be acquired through exercise of a warrant but for a
limitation in such warrant or elsewhere that limits exercise to those securities
that would not (when added to those otherwise beneficially owned) cause the
holder to become an Acquiring Person; and provided further that Seaside 88, LP
shall not pursuant to this paragraph (ii) (but without prejudice to paragraph
(i)) be deemed the Beneficial Owner of, or to beneficially own, common stock of
the Company that it is entitled to acquire pursuant to that certain Common Stock
Purchase Agreement dated as of February 19, 2009, as subsequently amended from
time to time, between it and the Company ; or (2) the right to vote, or the
right to direct the vote, pursuant to any agreement, arrangement or
understanding; provided, however, that a Person shall not be deemed the
Beneficial Owner of, or to beneficially own, any security, if the agreement,
arrangement or understanding to vote, or direct the vote of, such security (x)
arises solely from a revocable proxy or consent given to such Person in response
to a public proxy or consent solicitation made pursuant to, and in accordance
with, the applicable rules and regulations promulgated under the Exchange Act
and (y) is not also then reportable on Schedule 13D under the Exchange Act (or
any comparable or successor report); or”

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                2. 

              	
                Miscellaneous.

              

      

      

      
        	
              	
                2.1 

              	
                No Further
      Amendments. Except as specifically amended hereby, the Rights
      Agreement shall remain unmodified and in full force and effect, and the
      Rights Agreement is hereby ratified and affirmed in all
      respects.

              

      

      

      
        	
              	
                2.2 

              	
                Governing Law.
      This Amendment No. 5 shall be governed by and construed in accordance with
      the laws of the State of Delaware.

              

      

       

      
        	
              	
                2.3 

              	
                Counterparts.
      This Amendment No. 5 may be executed in any number of counterparts and
      each of such counterparts shall for all purposes be deemed to be an
      original, and all such counterparts shall together constitute but one and
      the same instrument.

              

      

      

      

      [remainder
of page intentionally left blank]

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, the parties hereto have caused this Amendment No. 5 to be duly
executed and delivered on June 19, 2009.

       

      
        	 
      	 
      	 
      
	 
      	
                BEACON
      POWER CORPORATION

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/
      James M. Spiezio

              
	 
      	
                Name:
      James M. Spiezio

              
	 
      	
                Title:
      Chief Financial Officer

              

      

       

      
        	 
      	 
      	 
      
	 
      	
                COMPUTERSHARE
      TRUST COMPANY, N.A. 

                (fka
      EQUISERVE TRUST COMPANY, N.A.)

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/
      Tyler Haynes

              
	 
      	
                Name:
      Tyler Haynes

              
	 
      	
                Title:   ManagerExhibit
10.1

    

     

    FIRST
AMENDMENT TO

     

    COMMON
STOCK PURCHASE AGREEMENT

     

    This
First Amendment to Common Stock Purchase Agreement (this “First Amendment”) is
dated as of June 19, 2009, by and between Beacon Power Corporation, a Delaware
corporation (the “Company”), and
Seaside 88, LP, a Florida limited partnership (such investor, including its
successors and assigns, “Seaside”).

     

    WHEREAS,
the parties entered into that certain Common Stock Purchase Agreement dated as
of February 19, 2009 (the “Agreement”;
capitalized terms used herein without definition shall have the meanings
assigned to such terms in the Agreement), which Agreement provided for the sale
by the Company to Seaside, and the purchase by Seaside from the Company, of up
to $18,000,000 of shares of Common Stock of the Company on certain Closing Dates
as set forth in the Agreement; and

     

    WHEREAS, the parties now desire to
modify the timing of the Closings pursuant to the Agreement and certain other
provisions of the Agreement, as more specifically set forth below, while
retaining the aggregate maximum of $18,000,000 of shares to be purchased and
sold;

     

    NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement,
and for other good and valuable consideration the receipt and adequacy of which
are hereby acknowledged, the Company and Seaside agree as follows:

     

    1.           The
following definitions as set forth in Section 1.1 of the Agreement shall be
amended hereby by deleting each in its entirety and substituting therefor the
following:

    

    “Per Share Purchase
Price” shall be an amount equal to the daily volume weighted average of
actual trading prices measured in hundredths of cents of the Common Stock of the
Company on the Trading Market for the ten consecutive trading days prior to a
Closing Date multiplied by 0.86.”

     

    “Subsequent Closing
Date” means March 20, 2009, April 20, 2009, May 20, 2009 and June 20,
2009 and thereafter on the 5th and
20th
of each month (or, if any such day is not a Trading Day, then the first day
thereafter that is a Trading Day) during the term of this Agreement in
accordance with Section 5.1 hereof, except that there shall be no Subsequent
Closing Date during any Delay Period.”

     

    2.           The
parties acknowledge that (a) the Company has given Seaside notice of its
election to extend this Agreement for the First Extended Term; (b) that the
Subsequent Closings scheduled for June 20, 2009 and July 5, 2009 (or, if any
such day is not a Trading Day, then the first day thereafter that is a Trading
Day) will complete the Initial Term; and (c) that the Subsequent Closings
scheduled for July 20, 2009, August 5, 2009, August 20, 2009, September 5, 2009,
September 20, 2009 and October 5, 2009 (or, if any such day is not a Trading
Day, then the first day thereafter that is a Trading Day) will comprise the
First Extended Term, in each case subject to adjustment in the event of a Delay
Period under Section 2.6 of the Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.           Section
2.2 of the Agreement shall be amended hereby by deleting such section in its
entirety and substituting therefor the following:

     

    “2.2           Subsequent
Closings.  On each Subsequent Closing Date, Seaside shall
purchase from the Company, and the Company shall issue and sell to Seaside, One
Million Five Hundred Thousand (1,500,000) Shares at the then-applicable Per
Share Purchase Price; provided, however, that in no
event shall the Company issue and sell pursuant to this Agreement at the Initial
Closing and all Subsequent Closings Shares having an aggregate purchase price in
excess of $18,000,000.  In the event that the Per Share Purchase
Price, as calculated with respect to any Subsequent Closing Date, is less than
$0.20, then such Subsequent Closing will not occur, nor will the final
Subsequent Closing Date be extended; in each such event, there will be one fewer
Subsequent Closing pursuant to this Agreement.  Upon satisfaction or
waiver of the conditions set forth in Sections 2.3, 2.4 and 2.5, each Subsequent
Closing shall occur at the offices of White White & Van Etten PC, 55
Cambridge Parkway, Cambridge, MA 02142, or such other location as the parties
shall mutually agree.”

     

    4.           Section
2.3(a) of the Agreement shall be amended hereby by deleting such section in its
entirety and substituting therefor the following:

     

    “(a)           1,500,000
Shares, registered in the name of Seaside, via the DTC DWAC system, as specified
on the signature pages hereto (or, if fewer, the nearest number of Shares that
would result in the aggregate purchase price for Shares issued during the term
of this Agreement to equal but not exceed $18,000,000);”

     

    5.           Section
2.4(a) of the Agreement shall be amended hereby by deleting such section in its
entirety and substituting therefor the following:

     

    “(a)           the
purchase price for the Shares being purchased on such Closing Date equal to
1,500,000 (or, if fewer, the number of Shares being sold on such Closing Date)
multiplied by the applicable Per Share Purchase Price for such Closing, by wire
transfer to the account as specified in writing by the Company, less the amount
due Seaside for reimbursement of its expenses as described in Section 5.2
hereof;”

     

    6.           Section
2.6 of the Agreement shall be amended hereby by deleting such section in its
entirety and substituting therefor the following:

     

    “2.6           Delay
Periods.  No less than ten (10) days before any Subsequent
Closing, the Company may elect at its sole option to delay that and all other
Subsequent Closings for a period (the “Delay Period”) of up to six (6) calendar
months by giving notice of such Delay Period to Seaside and paying Seaside
$100,000.  The Company’s rights to elect a Delay Period shall be
limited to once in each of the Initial Term, the First Extended Term and the
Second Extended Term.  In the event of such a Delay Period, the
scheduled dates of each following Subsequent Closing (and the scheduled
expiration of the Initial Term, the First Extended Term and/or the Second
Extended Term, as applicable) shall be appropriately adjusted so that the
previously scheduled Closings shall resume on the 5th and
20th
of each month following the expiration of the Delay Period (or, if any such day
is not a Trading Day, then the first day thereafter that is a Trading Day),
without any reduction in the number of Closings otherwise
occurring.”

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    7.           Section
4.12 of the Agreement shall be deleted in its entirety.

     

    8.           Section
5.1(c) of the Agreement shall be amended hereby by replacing “no later than
twenty (20) days” with “no later than ten (10) days” as the applicable date by
which the Company must deliver a notice of election and the related payment in
connection with the Company’s option to elect a Second Extended
Term.

     

    9.           Section
5.1 of the Agreement shall be amended hereby by adding a new Section 5.1(e) as
follows:

     

    “(e)           Notwithstanding
anything else in this Section 5.1, this Agreement shall terminate upon the
completion of any Subsequent Closing in which the aggregate purchase price paid
for Shares under this Agreement would, but for the limitation contained in
Section 2.3(a), equal or exceed $18,000,000.”

     

    10.         Except
as otherwise expressly provided in this First Amendment, all provisions of the
Agreement are hereby ratified and agreed to be in full force and effect, and are
incorporated herein by reference.

     

    11.         This
First Amendment may be executed in separate counterparts, none of which need
contain the signatures of all parties, each of which shall be deemed to be an
original, and all of which taken together constitute one and the same
instrument.  It shall not be necessary in making proof of this First
Amendment to produce or account for more than the number of counterparts
containing the respective signatures of, or on behalf of, all of the parties
hereto.  Original signatures transmitted by facsimile shall be
acceptable for purposes of executing this First Amendment.  If
original signatures are transmitted by facsimile, the parties shall endeavor in
good faith to deliver to each other executed counterpart originals as soon as
practicable after the date of this First Amendment.

     

    12.         This
First Amendment and the Agreement constitute the entire agreement between the
parties with respect to the subject matter hereof, and supersede all prior
written agreements and negotiations and oral understandings, if any, with
respect to such subject matter.

     

    (Signature
Pages Follow)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this First Amendment to Common
Stock Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

     

    
      	
              Beacon
      Power Corporation

            
	 
	 
	
              By:  

            	/s/
      James M. Spiezio
	 	Name:  James
      M. Spiezio
      
              Title:  Chief
      Financial Officer

            

    

    
 

    
      	      
              Seaside
      88, LP

               

              By:  Seaside
      88 Advisors, LLC

            
	 
	 
	
              By:  

            	/s/
      William J. Ritger
	 	Name:  William
      J. Ritger
      
              Title:  Manager

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