Document:

CONDITIONAL
WAIVER AND MODIFICATION NO. 2

    

    TO
LOAN AND SECURITY AGREEMENT

    

    This
Conditional Waiver and Modification No. 2 to
Loan and Security Agreement (this
“Second
Modification”)
is entered into as of December 13, 2010 (the “Effective Date”), by and between PARTNERS
FOR GROWTH II, L.P. ("PFG") and each of Composite Technology Corporation, CTC
Cable Corporation and CTC Renewables Corporation, each with their principal
business address at 2026 McGaw Avenue, Irvine, CA 92614 (individually and
collectively, jointly and severally, "Borrower").  Capitalized terms
used herein without definition shall have the same meanings given them in the
Loan Agreement and the Warrants (as defined below).

     

    Recitals

     

    A.           Borrower
and PFG have entered into that certain Loan and Security Agreement dated as of
April 12, 2010, as amended and modified from time to time (the “Loan
Agreement”), and together with such documents, instruments and security
agreements as were executed reasonably contemporaneously with or in connection
with the Loan Agreement, the “Loan
Documents”), pursuant to which PFG has extended and conditionally-agreed
to make available to Borrower certain advances of money.

     

    B.           On
October 18, 2010, Borrower entered into that certain Conditional Waiver and
Modification to Loan and Security Agreement (the “Original
Modification”) under which, inter alia, PFG waived a Specified Default
(as defined therein), modified certain terms of the Loan Agreement and amended
the Warrants issued by Borrower, Composite Technology Corporation.

     

    C.           Borrower
has indicated to PFG its inability to meet the Liquidity Financial Covenant for
the September 30 reporting period and its possible inability to meet the
Liquidity and Cumulative Operating Income Financial Covenant set forth in
Section 5 of the Schedule (the “Specified
Covenants”) for current reporting periods (the “Possible
Defaults”).

     

    D.           Subject
to the truth and accuracy of the representations and warranties of Borrower set
forth herein and subject to the other terms and conditions set forth in this
Second Modification, PFG is willing to waive Borrower’s compliance with the
Specified Covenants, forbear from exercising remedies under the Loan Agreement
based solely on the Possible Defaults and otherwise modify the Loan Documents as
specified herein.

     

    agreement

     

    1.           Conditional
Waiver; Payment Deferral.   Subject to each of the
following conditions: (a) satisfaction of the terms of Section 6 hereof; and (b)
there being no Default or Event of Default under the Loan Documents other than
the Possible Defaults, PFG hereby: (i) agrees to modify the Loan Agreement as
specified in Section 2; (ii) waives the Possible Defaults through the Waiver
Period End Date (as defined in Section 6.4); and (3) defers further payment of
the Security Deposit (added as a new term to the Loan Agreement under the
Original Modification in Section 8(c) of the Schedule) until the Waiver Period
End Date.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    2.           Modifications
of Loan Agreement.

     

    2.1           Payment of Escrow
Funds.  Borrower, Composite Technology Corporation, is party to
that certain Asset Purchase Agreement dated as of August 10, 2009 by and among
Daewoo Shipbuilding & Marine Engineering Co., Ltd., DeWind, Inc. and
Borrower (as amended, the “Purchase
Agreement”). Borrower is due monies from time to time under the Escrow
Agreement (as defined in Section 6.5) (such monies due from time to time, “Escrow
Proceeds”). Until such time as PFG may otherwise instruct, Borrower shall
promptly (and in no event later than one (1) Business Day after Borrower’s
receipt of cleared funds) cause monies paid to it under the Escrow Agreement to
be directly paid over to PFG.  For the avoidance of doubt, Escrow
Proceeds shall exclude monies nominally paid to Borrower but required under the
terms of the Purchase Agreement and/or the Escrow Agreement to be immediately
paid to third party claimants under the Purchase Agreement. Such Escrow Proceeds
paid to PFG shall be credited against any fees (including the Waiver Fee
specified in Section 6.4 hereof) and expenses payable to PFG under the Loan
Documents, to interest due on outstanding Obligations, to the Security Deposit
(to the extent then required) and finally to principal. PFG may, in its sole and
absolute discretion, from time to time, remit back to Borrower all or any
portion of Escrow Proceeds received and creditable to principal and, so long as
such amounts are remitted back to Borrower within three (3) Business Days after
the Business Day on which PFG has received such amounts, payment of that portion
of such Escrow Proceeds shall not be deemed to constitute a repayment in part of
the principal balance of the Loan.

    

    2.2           Additional Reporting. Until
such time as PFG otherwise notifies Borrower to the contrary, Borrower shall
provide PFG, as an additional report required under Section 6 of the Loan
Agreement, a report detailing any proceeds paid or payable to Borrower or any
Affiliate under the Escrow Agreement (as defined in Section 6.5).

    

    3.           Borrower’
Representations, Warranties and Covenants.  Each Borrower
represents, warrants and covenants that:

     

    (a)           immediately
upon giving effect to this Second Modification (i) the representations and
warranties contained in the Loan Documents are true, accurate and complete in
all material respects as of the date hereof (except to the extent such
representations and warranties relate to an earlier date, in which case they are
true and correct as of such date), and (ii) no Event of Default (other than
the Possible Defaults) has occurred and is continuing;

     

    (b)           each
Borrower has the corporate power and authority to execute and deliver this
Second Modification and to perform its obligations under the Loan Agreement, as
amended by this Second Modification;

     

    (c)           the
articles of incorporation, bylaws and other organizational documents of each
Borrower delivered to PFG on or before the Effective Date remain true, accurate
and complete and have not been amended, supplemented or restated and are and
continue to be in full force and effect;

     

    (d)           the
execution and delivery by each Borrower of this Second Modification and the
performance by Borrower of its obligations under the Loan Agreement has been
duly authorized by all necessary corporate action on the part of each entity
constituting Borrower;

    
      
         

      

      
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    (e)           this
Second Modification has been duly authorized, executed and delivered by each
Borrower and constitutes a binding obligation of each Borrower, enforceable
against each Borrower, except as such enforceability may be limited by
bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar
laws of general application and equitable principles relating to or affecting
creditors’ rights;

     

    (f)           this
Second Modification does not require the consent of any third party (including
stockholders) or such consent has been secured;

     

    (g)           this
Second Modification shall be binding upon all entities within the Borrower
corporate group, whether or not each such entity is party hereto and upon PFG’s
request, Borrower shall cause such other controlled entities to become party to
the Loan Documents, as additional Borrowers; and

     

    (h)           as
of the date hereof, it has no defenses against the obligations to pay any
amounts under the Obligations and it has no claims of any kind against
PFG.  Borrower acknowledges that PFG has acted in good faith and has
conducted in a commercially reasonable manner its relationships with Borrower in
connection with this Second Modification and in connection with the Loan
Documents.

     

    Borrower
understands and acknowledges that PFG is entering into this Second Modification
in reliance upon, and in partial consideration for, the above representations
and warranties, and agrees that such reliance is reasonable and
appropriate.

    
      
         

      

      
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    4.           Release.  Each Borrower
hereby forever relieves, releases, and discharges PFG and each of its present or
former employees, officers, directors, agents, representatives, attorneys (the
“Indemnitees”),
from any and all possible claims, debts, liabilities, demands, obligations,
promises, acts, agreements, costs and expenses, actions and causes of action, of
every type, kind, nature, description or character, whether known or unknown,
suspected or unsuspected, absolute or contingent, arising out of or in any
manner connected with or related to facts, circumstances, issues, controversies
or claims existing since the beginning of time through and including (but not
after) the date of execution of this Second Modification, which any Borrower or
any of their respective partners, members, officers, agents or employees may now
have or may hereafter have (but only with respect to facts, circumstances,
issues, controversies or claims existing on or prior to the date of this Second
Modification) against the Indemnitees, if any, and irrespective of whether any
of the foregoing arise out of contract, tort, violation of laws or regulations
or otherwise, breach of fiduciary duty, breach of any duty of fair dealing,
breach of confidence, breach of funding commitment, undue influence, duress,
economic coercion, violation of any federal or state securities or Blue Sky laws
or regulations, conflict of interest, negligence, bad faith, malpractice,
violations of the racketeer Influenced and Corrupt Organizations Act,
intentional or negligent infliction of mental distress, tortuous interference
with contractual relations, tortuous interference with corporate governance or
prospective business advantage, deceptive trade practices, libel, slander,
conspiracy or any claim relating to the Loan Documents or the transactions
contemplated therein (collectively “Released
Claims”). Without limiting the
foregoing, the Released Claims shall include any and all liabilities or claims
arising out of or in any manner connected with or related to the Loan Documents,
the Recitals hereto, any instruments, agreements or documents executed in
connection with any of the foregoing or the origination, negotiation,
administration, servicing and/or enforcement of any of the
foregoing.  In furtherance of this release, Borrower expressly
acknowledges and waives any and all rights under Section 1542 of the California
Civil Code, which provides as follows: “A general release does not
extend to claims which the creditor does not know or expect to exist in his
favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.” By entering into this
release, Borrower recognizes that no facts or representations are ever
absolutely certain and it may hereafter discover facts in addition to or
different from those which it presently knows or believes to be true, but that
it is the intention of Borrower hereby to fully, finally and forever settle and
release all matters, disputes and differences, known or unknown, suspected or
unsuspected; accordingly, if any Borrower should subsequently discover that any
fact that it relied upon in entering into this release was untrue, or that any
understanding of the facts was incorrect, neither Borrower shall be entitled to
set aside this release by reason thereof, regardless of any claim of mistake of
fact or law or any other circumstances. Borrower acknowledges that it is not
relying upon and has not relied upon any representation or statement made by PFG
with respect to the facts underlying this release or with regard to any of such
party’s rights or asserted rights. This release may be pleaded as a full and
complete defense and/or as a cross-complaint or counterclaim against any action,
suit, or other proceeding that may be instituted, prosecuted or attempted in
breach of this release. Borrower acknowledges that the release contained herein
constitutes a material inducement to PFG to enter into this Second Modification,
and that PFG would not have done so but for PFG’s expectation that such release
is valid and enforceable in all events.  Borrower hereby represents
and warrants to PFG, and PFG is relying thereon, as follows: (i) except as
expressly stated in this Second Modification, neither PFG nor any agent,
employee or representative of PFG has made any statement or representation to
any Borrower regarding any fact relied upon by any Borrower in entering into
this Second Modification; (ii) Borrower has made such investigation of the facts
pertaining to this Second Modification and all of the matters appertaining
thereto, as it deems necessary; (iii) the terms of this Second Modification are
contractual and not a mere recital; (iv) this Second Modification has been
carefully read by Borrower, the contents hereof are known and understood by
Borrower, and this Second Modification is signed freely, and without duress, by
Borrower; (v) Borrower represents and warrants that it is the sole and lawful
owner of all right, title and interest in and to every claim and every other
matter which it releases herein, and that it has not heretofore assigned or
transferred, or purported to assign or transfer, to any person, firm or entity
any claims or other matters herein released. Borrower shall indemnify PFG,
defend and hold it harmless from and against all claims based upon or arising in
connection with prior assignments or purported assignments or transfers of any
claims or matters released herein.

     

    5.           Limitation.  PFG’s
waiver set forth in this Second Modification shall be limited precisely as
written and shall not be deemed (a) to be a forbearance, waiver or modification
of any other term or condition of the Loan Documents or of any other instrument
or agreement referred to therein or to prejudice any right or remedy which PFG
may now have or may have in the future under or in connection with the Loan
Documents or any instrument or agreement referred to therein; (b) to constitute
a modification or waiver of any rate of interest applicable to outstanding
monetary Obligations, (c) to be a consent to any future amendment or
modification, forbearance or waiver to any instrument or agreement the execution
and delivery of which is consented to hereby, or to any waiver of any of the
provisions thereof; or (d) to limit or impair PFG’s right to demand strict
performance of all terms and covenants of any of the Loan Documents as of any
date.  Except as expressly amended hereby, the Loan Documents and each
of them shall continue in full force and effect.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    6.           Effectiveness.  Subject
to the satisfaction of the conditions precedent set forth below, this Second
Modification shall become effective on the date hereof, but shall continue to be
subject to the satisfaction of all the following conditions:

     

    6.1           Execution and
Delivery.  Each Borrower shall have duly executed and delivered
this Second Modification and the Restated Warrants to PFG on or before December
13, 2010.

     

    6.2           Update to Representations.
Within three (3) Business Days from the date hereof, Borrower shall update the
Representations to the extent required to make the Representations true and
correct as of the date of this Second Modification:  (i) in all
respects as to matters addressed in Part A of the Representations (except for
the Collateral values set forth in Part A, Section 3(g), which must be true and
correct in all Non-trivial respects) and Part B, Section 11, and (ii) in all
Non-trivial respects with respect to all other sections of the Representations
Letter.

     

    6.3           Evidence of
Authorization/Consent.  Each Borrower shall have provided PFG
with certified copies of any and all of each Borrower’s required authorizations
or consents (Board, stockholder or other required authorization or consent) to
the execution, delivery and performance of this Second
Modification.

     

    6.4           Payment of Waiver
Fee.  Borrower shall pay PFG a fee equal to $160,000 (the
“Waiver
Fee”).  The Waiver Fee shall be paid to PFG upon the earliest
to occur (the “Waiver Period End
Date”) of (i) January 14, 2011; (ii) repayment of the Loan; (iii)
Borrower’s certification of its compliance with the Liquidity Covenant (on a
post Waiver Fee payment basis); and (iv) the occurrence of a Default, other than
failure to satisfy the Specified Covenants.

     

    6.5           Instruction of Escrow
Agent.  Borrower shall, upon the request of
PFG,  deliver written instructions (with a true and correct copy
delivered to PFG) to the “Escrow Agent” under that certain Escrow and Security
Agreement dated as of September 4, 2009 by and among DeWine Turbine, Co.,
DeWind, Inc. and U.S. Bank, N.A. (as amended, the “Escrow
Agreement”), to pay any and all amounts payable to Borrower or any
Borrower Affiliate from the Escrow Funds, other than funds nominally paid to
Borrower or its Affiliates but required to be immediately paid out by Borrower
to satisfy claims arising under the Escrow Agreement.

     

    6.6           Payment of PFG
Expenses.  Borrower shall pay promptly upon invoice all PFG
costs and expenses (including all reasonable attorneys’ fees and reasonable
expenses) incurred in connection with this Second Modification.

     

    6.7           No Defaults.  No
Default or Event of Default shall have occurred and be continuing, other than
the Possible Defaults.

     

    For the
avoidance of doubt, the failure of any of the foregoing conditions shall be
deemed a breach of this Second Modification and an immediate Event of Default
under the Loan Agreement.

     

    7.           Counterparts.  This
Second Modification may be signed in any number of counterparts, and by
different parties hereto in separate counterparts, with the same effect as if
the signatures to each such counterpart were upon a single
instrument.  All counterparts shall be deemed an original of this
Second Modification.

    
      
         

      

      
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    8.           Integration;
Construction.  This Second Modification, the Original
Modification and the other Loan Documents and any documents executed in
connection herewith or therewith or pursuant hereto or thereto contain the
entire agreement between the parties with respect to the subject matter hereof
and supersede all prior agreements, understandings, offers and negotiations,
oral or written, with respect thereto and no extrinsic evidence whatsoever may
be introduced in any judicial or arbitration proceeding, if any, involving this
Second Modification; except that any financing statements or other agreements or
instruments filed by PFG with respect to Borrower shall remain in full force and
effect. The title of this Agreement, section headings and quotation marks around
amended provisions are for the readers’ convenience only and shall be ignored
for purposes of integration into the Loan Agreement. The term “Schedule” means
the Schedule to the Loan Agreement. The “General Provisions” of the Loan
Agreement are incorporated by reference herein. This Second Modification shall
be deemed effective as against any and all Borrower parties that execute and
deliver this Second Modification, and the failure of any such Borrower to so
execute and deliver shall not affect the enforceability of this Second
Modification against each Borrower party that does.

     

    9.           Governing
Law; Venue.  THIS SECOND
MODIFICATION SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA.  Borrower and PFG
each submit to the exclusive jurisdiction of the State and Federal courts in San
Francisco County, California.

     

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
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    IN WITNESS WHEREOF, the parties hereto
have caused this Second Modification to be executed as of the date first written
above.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Borrower:

                                  	 
      	
                                    PFG:

                                  
	 	 	 
	
                                    COMPOSITE
      TECHNOLOGY CORPORATION

                                  	 
      	
                                    PARTNERS
      FOR GROWTH II, L.P.

                                  
	 
      	 
      	 
      
	
                                    By

                                  	 
      	 
      	
                                    By

                                  	 
      
	 
      	
                                    President
      or Vice President

                                  	 
      	 
      
	 
      	 
      	
                                    Name:

                                  	 
      
	
                                    By

                                  	 
      	 
      	 
      
	 
      	
                                    Secretary
      or Ass't Secretary

                                  	 
      	
                                    Title:
      Manager, Partners for Growth II, LLC

                                  
	 
      	 
      	
                                    Its General
    Partner

                                  
	
                                    Borrower:

                                  	 
      	
                                    Borrower:

                                  
	 	 	 
	
                                    CTC
      CABLE CORPORATION

                                  	 
      	
                                    CTC
      RENEWABLES CORPORATION

                                  
	 
      	 
      	 
      
	
                                    By

                                  	 
      	 
      	
                                    By

                                  	 
      
	 
      	
                                    President
      or Vice President

                                  	 
      	 
      	
                                    President
      or Vice President

                                  
	 
      	 
      	 
      
	
                                    By

                                  	 
      	 
      	
                                    By

                                  	 
      
	 
      	
                                    Secretary
      or Ass't Secretary

                                  	
                                      

                                  	
                                    Secretary
      or Ass't
SecretaryAMENDED
AND RESTATED WARRANT

    

    THIS
WARRANT (THE “WARRANT”) WAS ORIGINALLY ISSUED PURSUANT TO THE TERMS OF THE
PROVISIONS OF A WARRANT PURCHASE AGREEMENT DATED APRIL 12, 2010 (THE
“AGREEMENT”) BETWEEN COMPOSITE TECHNOLOGY CORPORATION, A NEVADA CORPORATION (THE
“COMPANY”) AND THE INITIAL WARRANT HOLDER.  A COPY OF SUCH AGREEMENT
IS ON FILE AT THE OFFICE OF THE CORPORATE SECRETARY OF THE
COMPANY.  THIS SECURITY WAS SOLD IN A PRIVATE TRANSACTION, WITHOUT
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)
OR THE SECURITIES LAWS OF ANY STATE, AND MAY BE OFFERED OR SOLD ONLY IF
REGISTERED UNDER THE SECURITIES ACT AND SUCH LAWS OR IF AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS IS AVAILABLE.

    

    
      
        
          	
                  Company:

                	 
      	
                  Composite
      Technology Corporation, a Nevada corporation

                
	
                  Number
      of Shares:

                	 
      	
                  5,000,000, subject to adjustment

                
	
                  Class
      of Shares:

                	 
      	
                  Common
      Stock, par value $0.001 per share (OTC:CPTC)

                
	
                  Exchange
      Price:

                	 
      	
                  $0.24
      per share

                
	
                  Original
      Issue Date:

                	 
      	
                  April
      12, 2010

                
	
                  Restatement
      Date:

                	 
      	
                  December
      13, 2010

                
	
                  Expiration
      Date:

                	
                    

                	
                  April
      12, 2013

                

        

      

    

    

    The term “Holder” shall initially refer
to Partners for Growth II, L.P., a Delaware limited partnership, which is the
initial holder of this Warrant and shall further refer to any subsequent
permitted holder of this Warrant from time to time.

    

    The Holder is subject to certain
restrictions as set forth in the Agreement.

    

    The Company does hereby certify and
agree that, for good and valuable consideration for the Warrant, the Holder, or
its permitted successors and assigns, hereby is entitled to exchange this
Warrant in Composite Technology Corporation (the “Company”) for Five Million (5,000,000) duly authorized, validly issued, fully paid and
non-assessable shares of its Common Stock, par value $0.001 each, upon the terms
and subject to the provisions of this Warrant.  The shares of Common
Stock issuable upon exchange of this Warrant are referred to herein as the
“Warrant Stock,” and the Warrant and the Warrant Stock are sometimes together
referred to as the “Securities.” Capitalized terms used but not defined in this
Warrant have their meanings as set forth in that certain Loan and Security
Agreement dated as of April 12, 2010, between the Company and Holder (the “Loan
Agreement”).

    

    
      	
              Section 1

            	
               
      Term, Price and Exchange of
Warrant.

            

    

     

    1.1           Term of
Warrant.  This Warrant shall be exchangeable for a period of
three (3) years from the Issue Date (hereinafter referred to as the “Expiration
Date”).

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    1.2       
   Exchange
Price.  The price per share at which the Warrant Stock is
issuable upon exchange of this Warrant shall be $0.23, subject to Section 1.3
(a) hereof and subject to adjustment from time to time as set forth herein (the
“Exchange Price”).

     

    1.3       
   Exercise of Warrant;
Exchange of Warrant.

     

     (a)           This
Warrant may be exercised in whole or in part, upon surrender to the Company at
its then principal offices in the United States of this Warrant to be exchanged,
together with the form of election to exchange attached hereto as Exhibit A duly
completed and executed, and upon payment to the Company of the Exchange Price
for the number of shares of Warrant Stock in respect of which this Warrant is
then being exercised (an “Exercise”).  In whole or in part in lieu of
an Exercise, Holder may exchange this Warrant as set forth in the remainder of
this Section 1.3 (an “Exchange”).

     

     (b)           Upon
an Exchange, the Holder shall receive Warrant Stock such that, without the
payment of any funds, the Holder shall surrender this Warrant in exchange for
the number of shares of Warrant Stock equal to “X” (as defined below), computed
using the following formula:

    

    
      
        
          	
                  X  =

                	
                  Y * (A-B)

                
	 
      	
                  A

                

        

      

    

    

    Where

    

    
      
        
          	
                  X  =

                	 
      	
                  the
      number of shares of Warrant Stock to be issued to
Holder

                
	
                  Y  =

                	 
      	
                  the
      number of shares of Warrant Stock to be exchanged under this
      Warrant

                
	
                  A  =

                	 
      	
                  the
      Fair Market Value of one share of Warrant Stock

                
	
                  B  =

                	 
      	
                  the
      Exchange Price (as adjusted to the date of
      such calculations)

                
	
                  *  =

                	
                    

                	
                  multiplied
      by

                

        

      

    

    

     (c)           For
purposes of this Warrant, the “Fair Market Value” of one share of Warrant Stock
shall be (i) if the Company’s common stock (the “Common Stock”) is or becomes
listed on a national stock exchange, the highest closing sale price reported on
such exchange or market during the trading day on the day prior to which Holder
delivers its Election of Exchange to the Company, or (ii) if the Common Stock is
traded over-the-counter, the  highest closing bid price for the Common
Stock during the trading day on the day prior to which Holder delivers its
Election of Exchange to the Company.  If the Common Stock is not
traded as contemplated in clauses (i) or (ii), above, the Fair Market Value of
the Company’s Warrant Stock shall be the price per share which the Company could
obtain from a willing buyer for shares of Common Stock sold by the Company from
its authorized but unissued shares, as the Board of Directors of the Company
(“Board”) shall determine in its reasonable good faith judgment, but in no event
less than the exercise price at which qualified employee stock options are then
issued. In the event that Holder elects to convert the Warrant Stock through
Exchange in connection with a transaction in which the Warrant Stock is
converted into or exchanged for another security, Holder may effect a Exchange
directly into such other security.

    

    
      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

    

    (d)           Upon
surrender of this Warrant, and the duly completed and executed form of election
to exchange, and payment of the Exchange Price or conversion of this Warrant
through Exchange, the Company shall issue and deliver within two (2) business
days to the Holder or such other person as the Holder may designate in writing a
certificate or certificates for the number of shares of Warrant Stock so
purchased upon the Exchange or exercise of this Warrant.  Such
certificate or certificates shall be deemed to have been issued and any person
so designated to be named therein shall be deemed to have become a holder of
record of such Warrant Stock as of the date of the surrender of this Warrant,
and the duly completed and executed form of election to exchange, and payment of
the Exchange Price or conversion of this Warrant through Exchange; provided,
that if the date of surrender of this Warrant and payment of the Exchange Price
is not a business day, the certificates for the Warrant Stock shall be deemed to
have been issued as of the next business day (whether before or after the
Expiration Date).  If this Warrant is exchanged or exercised in part,
a new warrant of the same tenor and for the number of shares of Warrant Stock
not exchanged or exercised shall be executed by the Company.

     

    1.4           Fractional
Interests.  The Company shall not be required to issue
fractions of shares of Warrant Stock upon the exchange of this
Warrant.  If any fraction of a share of Common Stock would be issuable
upon the exchange of this Warrant (or any portion thereof), the Company shall
purchase such fraction for an amount in cash equal to the same fraction of the
last reported sale price of the Common Stock on the NASDAQ National Market
System or any other national securities exchange or market on which the Common
Stock is then listed or traded.

     

    1.5           Automatic Conversion upon
Expiration.  In the event that, upon the Expiration Date, the
Fair Market Value of one share of Common Stock (or other security issuable upon
the exchange hereof) as determined in accordance with Section 1.3(c) is greater
than the Exchange Price in effect on such date, then this Warrant shall
automatically be deemed on and as of such date to be converted pursuant to
Section 1.3(b) as to all Warrant Stock (or such other securities) for which it
shall not previously have been exchanged or converted, and the Company shall
promptly deliver a certificate representing the Warrant Stock (or such other
securities) issued upon such conversion to the Holder.

     

    1.6           Treatment of Warrant Upon
Acquisition of Company.

     

     (a)           “Acquisition”.  For
the purpose of this Warrant, “Acquisition” means (i) any sale or other
disposition of all or substantially all of the assets of the Company in whatever
form, or any reorganization, consolidation, or merger of the Company (whether in
a single transaction or multiple related transactions) where the holders of the
Company’s securities before the transaction beneficially own less than 50% of
the outstanding voting securities of the surviving entity after the
transaction(s), and (ii) any other event under the Company's Amended Articles of
Incorporation that is treated as a liquidation of the Company.

    

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    (b)           Treatment of Warrant at
Acquisition.  Upon the closing of any Acquisition, the Company
or the successor entity (if applicable in such Acquisition) shall, as condition
to such Acquisition, either: (i) assume the obligations of this Warrant, and
this Warrant shall be exercisable for the same securities as would be payable
for the Warrant Stock issuable upon exchange of the unexchanged portion of this
Warrant as if such Warrant Stock were outstanding on the record date for the
Acquisition (and the Warrant Price and/or number of shares of Warrant Stock
shall be adjusted accordingly) or (ii) purchase this Warrant at its “Fair Value”
(as such term is defined herein).

     

    (c)           Purchase at Fair
Value.

     

    For
purposes of this Warrant, “Fair Value” shall mean that value determined by the
parties using a Black-Scholes Option-Pricing Model (the “Black-Scholes
Calculation”) with the following assumptions: (A) a risk-free interest rate
equal to the risk-free interest rate at the time of the closing of the
Acquisition (or as close thereto as practicable), (B) a contractual life of the
Warrant equal to the remaining term of this Warrant as of the date of the
Acquisition, (C) an annual dividend yield equal to dividends declared on the
underlying Common Stock during the term of this Warrant (calculated on an annual
basis), and (D) a volatility factor of the expected market price of the
Company’s Common Stock comprised of: (1) if the Company is publicly traded on a
national securities exchange or over-the-counter, its volatility over the one
year period prior to the Acquisition, (2) if the Company is a non-public
company, the volatility, over the one year period prior to the Acquisition, of
an average of publicly-traded companies in the same or similar industry to the
Company with such companies having similar revenues.  The purchase
price determined in accordance with the above shall be paid upon the initial
closing of the Acquisition and shall not be subject to any post-Acquisition
closing contingencies or adjustments; provided, however, the parties may take
such post-Acquisition closing contingencies or adjustments into account in
determining the purchase price, and if the parties take any post-Acquisition
closing contingencies or adjustments into account, then upon the partial or
complete removal of those post-Acquisition closing contingencies or adjustments,
a new Black-Scholes Calculation would be made using all of the same inputs
except for the value of the Company’s shares (as determined under subclause
(D)), and the increased value of such shares (including, but not limited to any
earn-out or escrowed consideration) would be paid in full to
Holder immediately after those post-Acquisition closing contingencies or
adjustments can be determined or achieved.

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

    

    
      	 	
               
      Section 2.

            	
               Exchange
      and Transfer of Warrant.

            

    

     

    (a)           This
Warrant may be transferred, in whole or in part, without restriction, subject to
(i) Holder’s compliance with applicable securities laws and delivery of an
opinion of counsel as to the same, if so requested by the Company, and (ii) the
transferee holder of the new Warrant assuming in writing the obligations of the
Holder set forth in this Warrant and the Agreement.  A transfer may be
registered with the Company by submission to it of this Warrant, together with
the annexed Assignment Form attached hereto as Exhibit B duly completed and
executed.  After the Company’s receipt of this Warrant and the
Assignment Form so completed and executed, the Company will issue and deliver to
the transferee a new warrant (representing the portion of this Warrant so
transferred) at the same Exchange Price per share and otherwise having the same
terms and provisions as this Warrant, which the Company will register in the new
holder’s name.  In the event of a partial transfer of this Warrant,
the Company shall concurrently issue and deliver to the transferring holder a
new warrant that entitles the transferring holder to purchase the balance of
this Warrant not so transferred and that otherwise is upon the same terms and
conditions as this Warrant.  Upon the due delivery of this Warrant for
transfer, the transferee holder shall be deemed for all purposes to have become
the holder of the new warrant issued for the portion of this Warrant so
transferred, effective immediately prior to the close of business on the date of
such delivery, irrespective of the date of actual delivery of the new warrant
representing the portion of this Warrant so transferred.

     

    (b)           In
the event of the loss, theft or destruction of this Warrant, the Company shall
execute and deliver an identical new warrant to the Holder in substitution
therefor upon the Company’s receipt of (i) evidence reasonably satisfactory to
the Company of such event and (ii) if requested by the Company, an indemnity
agreement reasonably satisfactory in form and substance to the
Company.  In the event of the mutilation of or other damage to the
Warrant, the Company shall execute and deliver an identical new warrant to the
Holder in substitution therefor upon the Company’s receipt of the mutilated or
damaged warrant.

     

    (c)           The
Company shall pay all reasonable costs and expenses incurred in connection with
the exchange, exercise, transfer or replacement of this Warrant, including,
without limitation, the costs of preparation, execution and delivery of a new
warrant and of share certificates representing all Warrant Stock.

    

    
      	
              Section 3.

            	
              Certain
      Covenants.

            

    

    

    (a)           The
Company shall at all times reserve for issuance and keep available out of its
authorized and unissued Common Stock, solely for the purpose of providing for
the exchange of this Warrant, such number of shares of Common Stock as shall
from time to time be sufficient therefor.

     

    (b)           The
Company will not, by amendment or restatement of its Articles of Incorporation
or Bylaws or through reorganization, consolidation, merger, amalgamation, sale
of assets or otherwise, avoid or seek to avoid the observance or performance of
any of the terms of this Warrant.  Without limiting the foregoing, the
Company (i) will not increase the par value of any Warrant Stock receivable upon
the exchange of this Warrant above the amount payable therefor upon such
exchange and (ii) will take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and
nonassessable shares upon the exchange of this Warrant.

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    (c)           The
Company shall provide Holder quarterly and annual financial statements as and
when available, if such statements are not publicly available.  The
parties shall not treat the Warrant or the Warrant Stock as being granted or
issued as property transferred in connection with the performance of services or
otherwise as compensation for services rendered.

     

    
      	
              Section
      4.

            	
              Adjustments
      to Exchange Price and Number of Shares of Warrant
  Stock.

            

    

    

    4.1           Adjustments.  The
Exchange Price shall be subject to adjustment from time to time in accordance
with this Section 4.  Upon each adjustment of the Exchange Price
pursuant to this Section 4, the Holder shall thereafter be entitled to acquire
upon exchange, at the Exchange Price resulting from such adjustment, the number
of shares of Common Stock of the Company obtainable by multiplying the Exchange
Price in effect immediately prior to such adjustment by the number of shares of
Common Stock acquirable immediately prior to such adjustment and dividing the
product thereof by the new Exchange Price resulting from such
adjustment.

     

    4.2           Subdivisions, Combinations
and Stock
Dividends.  If the Company shall at any time subdivide by
split-up or otherwise, its outstanding Common Stock into a greater number of
shares, or issue additional Common Stock as a dividend, bonus issue or
otherwise with respect to any Common Stock, the Exchange Price in effect
immediately prior to such subdivision or share dividend or bonus issue shall be
proportionately reduced and the number of shares acquirable upon exchange
hereunder shall be proportionately increased. Conversely, in case the
outstanding Common Stock of the Company shall be combined into a smaller number
of shares, the Exchange Price in effect immediately prior to such combination
shall be proportionately increased.

    

    4.3           Reclassification, Exchange,
Substitutions, Etc. Upon any reclassification, exchange,
substitution, or other event that results in a change of the number and/or class
of the securities issuable upon exchange or exercise of this Warrant, Holder
shall be entitled to receive an amended warrant for the number and kind of
securities and property that Holder would have received for the Warrant Stock if
this Warrant had been exercised immediately before such reclassification,
exchange, substitution, or other event.  The Company or its successor
shall promptly issue to Holder an amendment to this Warrant setting forth the
number and kind of such new securities or other property issuable upon exchange
or exercise of this Warrant as a result of such reclassification, exchange,
substitution or other event that results in a change of the number and/or class
of securities issuable upon exchange or exercise of this Warrant.  The
amendment to this Warrant shall provide for adjustments (as determined in good
faith by the Company’s Board of Directors) which shall be as nearly equivalent
as may be practicable to the adjustments provided for in this Article 4
including, without limitation, adjustments to the Warrant Price and to the
number of securities or property issuable upon exchange of the new
Warrant.  The provisions of this Section 4.3 shall similarly apply to
successive reclassifications, exchanges, substitutions, or other similar
events.

    

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    

    4.4.           Notices of Record Date,
Etc.  In the event that the Company shall:

    

    (1) declare or propose to declare any
dividend upon its Common Stock, whether payable in cash, property, stock or
other securities and whether or not a regular cash dividend, or

    

    (2)  offer for sale any
additional shares of any class or series of the Company’s stock or securities
exchangeable for or convertible into such stock in any transaction that would
give rise (regardless of waivers thereof) to pre-emptive rights of any class or
series of stockholders, or

    

    (3)  effect or approve any
reclassification, exchange, substitution or recapitalization of the capital
stock of the Company, including any subdivision or combination of its
outstanding capital stock, or consolidation or merger of the Company with, or
sale of all or substantially all of its assets to, another corporation, or to
liquidate, dissolve or wind up (including an assignment for the benefit of
creditors), or

    

    (4)  offer holders of
registration rights the opportunity to participate in any proposed registration
of the Company’s securities,

    

    then, in connection
with such event, the Company shall give to Holder:

    

              (i)
at least ten (10) days prior written notice of the date on which the books of
the Company shall close or a record shall be taken for such a dividend or offer
in respect of the matters referred to in (1) or (2) above, or for determining
rights to vote in respect of the matters referred to in (3) above;
and

    

              (ii)
in the case of the matters referred to in (3) above, at least ten (10) days
prior written notice of the date when the same shall take place.  Such
notice in accordance with the foregoing clause (1) shall also specify, in the
case of any such dividend, the date on which the holders of capital stock shall
be entitled thereto and the terms of such dividend, and such notice in
accordance with clause (2) shall also specify the date on which the holders of
capital stock shall be entitled to exchange their capital stock for securities
or other property deliverable upon such reorganization, reclassification,
exchange, substitution, consolidation, merger or sale, as the case may be, and
the terms of such exchange. Each such written notice shall be given by first
class mail, postage prepaid, addressed to the holder of this Warrant at the
address of Holder; and

    

    (iii)  in the case of the
matter referred to in (4) above, the same notice as is given or required to be
given to the holders of such registration rights.

    

    
      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

    

    4.5           Adjustment by Board of
Directors.  If any event occurs as to which, in the opinion of
the Board of Directors of the Company, the provisions of this Section 4 are not
strictly applicable or if strictly applicable would not fairly protect the
rights of the Holder in accordance with the essential intent and principles of
such provisions, then the Board of Directors shall make an adjustment in the
application of such provisions, in accordance with such essential intent and
principles, so as to protect such rights, but in no event shall any adjustment
have the effect of increasing the Exchange Price as otherwise determined
pursuant to any of the provisions of this Section 4, except in the case of a
combination of shares of a type contemplated in Section 4.2 and then in no
event to an amount larger than the Exchange Price as adjusted pursuant to
Section 4.2.

    

    4.6           Officers’ Statement as to
Adjustments.  Whenever the Exchange Price and/or number of
shares of Warrant Stock subject to the Warrant is required to be adjusted as
provided in Section 4, the Company shall forthwith file at each office
designated for the exchange of this Warrant with a copy to the Holder notice
parties set forth in Section 7 hereof a statement, signed by the Chief Executive
Officer or Chief Financial Officer of the Company, showing in reasonable detail
the facts requiring such adjustment, the Exchange Price and number of
issuable shares that will be effective after such adjustment; provided, however,
such statement shall not be required to the extent the information requested in
this Section 4.6 is available through the Company’s current reports filed with
the Securities and Exchange Commission. If at any time the information described
in this Section 4.6 is readily available through the Company’s reports filed
with the Securities and Exchange Commission, the Company shall not be required
to provide a separate notice of adjustment to the Holder; provided, however, if
such information is not readily available through the Company’s current reports
filed with the Securities Exchange Commission and made public, the Company shall
cause a notice setting forth any such adjustments to be sent by mail, first
class, postage prepaid, to the record Holder of this Warrant at its notice
address(es) appearing in Section 7. 

    

    4.7           Issue of Securities other
than Common Stock.  In the event that at any time, as a result
of any adjustment made pursuant to Section 4, the Holder thereafter shall become
entitled to receive any securities of the Company, other than Common Stock,
thereafter the number of such other shares so receivable upon exchange of this
Warrant shall be subject to adjustment from time to time in a manner and on
terms as nearly equivalent as practicable to the provisions with respect to the
Common Stock contained in Section 4.

    

    
      
        
           

        

        
          8

          
            

          

        

        
           

        

      

    

    

    
      	
              Section 5.

            	
              Rights
      and Obligations of the Warrant
Holder.

            

    

    

    Except as otherwise specified in this
Warrant, this Warrant shall not entitle the Holder to any rights of a holder of
Common Stock in the Company until such time as this Warrant is exchanged or
exercised.  Notwithstanding the foregoing, if during the term of this
Warrant the Company proposes to file a registration statement under the
Securities Act with respect to an offering for its own account of any class of
its equity securities (other than a registration statement on Form S-8 (or any
successor form) or any other registration statement relating solely to employee
benefit plans or filed in connection with an exchange offer, a transaction to
which Rule 145 (or any successor provision) under the Securities Act applies),
then the Company shall in each case give written notice of such proposed filing
to Holder as soon as practicable (but no later than 20 business days) before the
anticipated filing date, and such notice shall offer Holder the opportunity to
register such number of shares of Warrant Stock as Holder may request. Holder
shall advise the Company in writing within 10 business days after the date on
which the Company's notice is so given, setting forth the number of shares of
Warrant Stock for which registration is requested. If the Company's offering is
to be an underwritten offering, the Company shall, subject to the further
provisions of this Agreement, use its reasonable best efforts to cause the
managing underwriter or underwriters to permit the Holders of the Warrant Stock
requested to be included in the registration for such offering to include such
Warrant Stock in such offering on the same terms and conditions as any similar
securities of the Company included therein, subject to Holder’s execution of an
underwriting agreement with the managing underwriter or underwriters selected by
the Company in the same manner as other holders participating in the
registration. In connection with any such offering, the Company will (i) include
only such information relating to the Holder and the sale of Holder’s securities
as Holder shall specifically permit and (ii)  indemnify the Holder
against liabilities, losses and damages that Holder may incur in connection with
the offering, including those relating to the applicable securities laws, and
any breach by the Company of this Warrant.

    

    
      	
              Section 6.

            	
              Restrictive
      Stock Legend.

            

    

    

    This Warrant and the Warrant Stock have
not been registered under any securities laws.  Accordingly, any share
certificates issued pursuant to the exchange of this Warrant shall (until
receipt of an opinion of counsel in customary form that such legend is no longer
necessary) bear the following legend:

    

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE “ACT”), AND HAVE BEEN ACQUIRED FOR INVESTMENT AND
NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OF DISTRIBUTION
THEREOF.  NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN
CUSTOMARY FORM THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE
ACT.

    

    
      	
              Section 7. 

            	
              Notices.

            

    

    

    Any notice or other communication
required or permitted to be given here shall be in writing and shall be
effective (a) upon hand delivery or delivery by e-mail or facsimile at the
address or number designated below (if delivered on a business day during normal
business hours where such notice is to be received) or the first business day
following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received), or (b) on the third
business day following the date of mailing by express courier service, fully
prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The addresses for such communication shall
be:

    

    
      
        
           

        

        
          9

          
            

          

        

        
           

        

      

    

    

    if to
Holder, at

    

    Partners
for Growth II, L.P.

    180
Pacific Avenue

    San
Francisco, California 94111

    Attention:  Chief
Financial Officer

    Fax:  (415)
781-0510

    

    with a
copy (not constituting notice) to

    

    Greenspan
Law Office

    Attn:
Benjamin Greenspan, Esq.

    620
Laguna Road

    Mill
Valley, CA 94941

    Fax:
(415) 738-5371

    Email:
ben@greenspan-law.com

    

    or

    

    if to the
Company, at

    

    Composite
Technology Corporation

    2026
McGaw Avenue

    Irvine,
CA 92614

    Attn: DJ
Carney, CFO

    Fax:   (949)
428-8515

    Email:
djcarney@CompositeTechCorp.com

    

    with a
copy to:

    

    Richardson Patel LLP

    Attn:
Ryan Hong

    10900
Wilshire Boulevard

    Suite
500

    Los
Angeles, California 90024-6525

    Facsimile:
(310) 208-1154

    Email:
rhong@richardsonpatel.com

    

    Each
party hereto may from time to time change its address for notices under this
Section 7 by giving at least 10 calendar days’ notice of such changes
address to the other party hereto.

    

    
      	
              Section 8.

            	
              Amendments
      and Waivers.

            

    

    

    This Warrant and any term hereof may be
changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of such change, waiver, discharge
or termination is sought. This Warrant may only be amended by an instrument in
writing signed by both parties.

    

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    
      	
              Section 9. 

            	
              Applicable
      Law; Severability.

            

    

    

    This Warrant shall be governed by and
construed and enforced in accordance with the laws of the State of Nevada.  If any one or more of the provisions contained in
this Warrant, or any application of any provision thereof, shall be invalid,
illegal, or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein and all other
applications of any provision thereof shall not in any way be affected or
impaired thereby.

    

    
      	
              Section 10. 

            	
              Construction.

            

    

    

    The terms of the Warrant Purchase
Agreement to which this Warrant is attached as Exhibit 1 are incorporated by
reference herein.  Terms used but not defined herein have the meaning
set forth in the Warrant Purchase Agreement.

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    

    
      
        
           

        

        
          11

          
            

          

        

        
           

        

      

    

    

    IN WITNESS WHEREOF, the Company has
caused this Warrant to be duly executed on the day and year first above
written.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            	
                                                                                                    COMPANY:

                                                                                                  	 	
                                                                                                    ACKNOWLEDGED
      AND AGREED:

                                                                                                  
	 
      	 	 
      
	
                                                                                                    COMPOSITE
      TECHNOLOGY

                                                                                                    CORPORATION

                                                                                                  	 	
                                                                                                    HOLDER:

                                                                                                  
	 
      	 	
                                                                                                    Partners
      for Growth II, L.P.

                                                                                                  
	 	 	 
	      
                                                                                                    By:

                                                                                                  	 	 	 	  
	      
                                                                                                     
      

                                                                                                  	 	 	      
                                                                                                    By:

                                                                                                  	 
	      
                                                                                                    Name:

                                                                                                  	 	 	 	 	      
                                                                                                    ,
      Manager of

                                                                                                  
	      
                                                                                                    Title:

                                                                                                  	 	 	 	
                                                                                                    Partners
      for Growth II, LLC,

                                                                                                    Its
      General
Partner

                                                                                                  

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    Warrant Signature Page

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Exhibit
A

    

    To:

    

    ELECTION
TO EXCHANGE

    

    1.           The
undersigned hereby exercises its right to exchange its Warrant for
_________________ fully paid, validly issued and nonassessable Shares covered by
the attached Warrant in accordance with the terms thereof.

    

    1.           The
undersigned hereby elects to exercise the attached Warrant for fully paid,
validly issued and nonassessable Shares by payment of $__________ as specified
in the attached Warrant.  This right is exercised with respect to
___________ of shares.

    

    [Strike
the paragraph above that does not apply.]

    

    The
undersigned requests that certificates for such shares be issued in the name of,
and delivered to:

     

    ______________________

    ______________________

    ______________________

    

    2.           By
its execution below and for the benefit of the Company, the undersigned hereby
restates each of the representations and warranties in Section 4 of the Warrant
Purchase Agreement as of the date hereof.

    

    
      
        
          
            
              
                
                  	
                          Date:
      

                        	 	 	
                          [Holder]

                        
	 
      	 	 	 
      
	 
      	 	 	
                          By

                        	 
      
	 
      	 	 	 
      	
                          Name:

                        
	 
      	 	 	 
      	
                          Title:

                        

                

              

            

          

        

      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Exhibit
B

    

    ASSIGNMENT
FORM

    

    To:

    

    The
undersigned hereby assigns and transfers this Warrant to

     

    
      
        
          
            
              
                	 	 
	
                        (Insert
      assignee’s social security or tax identification number)

                      	 

              

            

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 	 
	
                                  (Print
      or type assignee’s name, address and postal code)

                                	 
	 	 
	 	 
	 	 
	 	 

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    and
irrevocably appoints _______________________________________ to transfer this
Warrant on the books of the Company.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          	Date:	 	 	Partners
      for Growth II, L.P.	 
	 	 	 	 	 	 
	 
      	 	 	
                                                  By

                                                	 	 
	 
      	 	 	
                                                  Name:
      _______________, Manager of

                                                	 
	 
      	 	 	
                                                  Partners
      for Growth II, LLC, Its General Partner

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