Document:

Exhibit 10.2

     

    INTELLECTUAL PROPERTY SECURITY AGREEMENT

     

    This INTELLECTUAL PROPERTY SECURITY AGREEMENT, dated as of September 30, 2021 (as amended, supplemented or otherwise modified from time to time, the “Intellectual Property Security Agreement”), is made by iSun, Inc., a Delaware corporation, and all of its affiliated entities (“Borrower”), and B. Riley Commercial Capital, LLC and its successors and assigns (“Lender”).

     

    A. Borrower has entered into the Loan and Security Agreement, dated as of even date herewith (as amended, supplemented, or otherwise modified from time to time, the “Loan and Security Agreement”), with Lender.

     

    B. Under the terms of the Loan and Security Agreement, Borrower has granted a security interest in certain Collateral, including without limitation all of the intellectual property of Borrower to Lender and has agreed
      as a condition thereof to execute this Intellectual Property Security Agreement for recording with the United States Patent and Trademark Office, the United States Copyright Office, and other applicable governmental agencies.

     

    NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower agrees as follows:

     

    SECTION 1. Grant of Security. Borrower hereby grants to Lender a security interest in all of Borrower’s right, title and interest in and to all of the following property now owned or at any time hereafter
      acquired by Borrower or in which Borrower now has or at any time in the future may acquire any right, title or interest, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by
      acceleration or otherwise) of Borrower’s Indebtedness (as defined in the Loan and Security Agreement):

     

    (a) (i) all United States trademarks, service marks, trade names, domain names, corporate names, company names, business names, trade dress, trade styles or logos and all registrations of and applications to register
      the foregoing (except for any applications filed in the United States Patent and Trademark Office on the basis of Borrower’s “intent-to-use” such trademark, unless and until acceptable evidence of use of the trademark has been filed with the United
      States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), to the extent, if any, that, and during the period, if any, in which granting a lien in such trademark application prior to such
      filing would adversely affect the enforceability or validity of such trademark application or of any registration that issues therefrom) and any new renewals thereof, including each registration and application identified in Schedule 1, (ii) the
      right to sue or otherwise recover for any and all past, present and future infringements, misappropriations, dilutions and other violations thereof, (iii) all income, royalties, damages and other payments now and hereafter due and/or payable with
      respect thereto (including payments under all licenses entered into in connection therewith, and damages and payments for past, present or future infringements and dilutions thereof) and (iv) all other rights of any kind whatsoever accruing
      thereunder or pertaining thereto, together in each case with the goodwill of the business connected with the use of, and symbolized by, each of the above;

     

    (b) (i) all United States patents, patent applications, including, without limitation, each issued patent and patent application identified on Schedule 1, (ii) all inventions and improvements described and claimed
      therein, (iii) the right to sue or otherwise recover for any and all past, present and future infringements and other violations thereof, (iv) all income, royalties, damages and other payments now and hereafter due and/or payable with respect thereto
      (including payments under all licenses entered into in connection therewith, and damages and payments for past, present or future infringements thereof) and (v) all reissues, divisions, continuations, continuations-in-part, substitutes, renewals, and
      extensions thereof, all improvements thereon and all other rights of any kind whatsoever accruing thereunder or pertaining thereto;

     

    (c) (i) all United States copyrights, whether or not the underlying works of authorship have been published, and all copyright registrations and copyright applications, and any renewals or extensions thereof,
      including each registration identified on Schedule 1, (ii) the right to sue or otherwise recover for any and all past, present and future infringements and other violations thereof, (iii) all income, royalties, damages and other payments now and
      hereafter due and/or payable with respect thereto (including, without limitation, payments under all licenses entered into in connection therewith, and damages and payments for past, present or future infringements thereof) and (iv) all other rights
      of any kind whatsoever accruing thereunder or pertaining thereto; and

     

    

    
      
        

    

    
    (d) any and all Proceeds of the foregoing.

     

    SECTION 2. Recordation. Borrower authorizes and requests that the United States Register of Copyrights or the United States Commissioner of Patents and Trademarks, as applicable, record this Intellectual
      Property Security Agreement.

     

    SECTION 3. Execution in Counterparts. This Intellectual Property Security Agreement may be executed by one or more of the parties to this Intellectual Property Security Agreement on any number of separate
      counterparts (including by telecopy or electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

     

    SECTION 4. Governing Law. This Intellectual Property Security Agreement shall be governed by, and construed and interpreted in accordance with, the law of the State of New York.

     

    SECTION 5. Conflict Provision. This Intellectual Property Security Agreement has been entered into in conjunction with the provisions of the Loan and Security Agreement.  The rights and remedies of each party
      hereto with respect to the security interest granted herein are without prejudice to, and are in addition to those set forth in the Loan and Security Agreement, all terms and provisions of which are incorporated herein by reference.  In the event
      that any provisions of this Intellectual Property Security Agreement are in conflict with the Loan and Security Agreement, the provisions of the Loan and Security Agreement shall govern.

     

    

    

    

    [SIGNATURE PAGES FOLLOW]

     

    

    
      2

      
        

    

    IN WITNESS WHEREOF, each of the undersigned has caused this Intellectual Property Security Agreement to be duly executed and delivered as of the date first above written.

     

    

    	 	
            ISUN, INC.

          
	 	 	 
	 	
            By:

          	/s/ Jeffrey Peck

          
	 	 	
             Name: Jeffrey Peck

              

          
	 	 	
             Title: CEO

              

          

    

    

    	 	
            B. RILEY COMMERCIAL CAPITAL, LLC

          
	 	 	 
	 	
            By:

          	/s/ Phillip J. Ahn

          
	 	 	
             Name: Phillip J. Ahn

              

          
	 	 	
             Title: Chief Financial Officer

              

          

     

    

     3Exhibit 10.3

    FIRST AMENDMENT TO AGREEMENT AND PLAN OF MERGER

    

    

    This First Amendment to Agreement and Plan of Merger (the “Amendment”) is dated as of September 30, 2021 and is made by and among iSun, Inc., a Delaware corporation (“Parent”), iSun Residential, Inc., a Delaware corporation and wholly-owned subsidiary of Parent (“iSun Residential”), iSun Residential Merger Sub, Inc., a
      Vermont corporation and wholly- owned subsidiary of iSun Residential (“Merger Sub,” and, together with iSun Residential, the “Parent Subsidiaries”), and SolarCommunities,
      Inc. d/b/a SunCommon, a Vermont benefit corporation (the “Company”), and Duane Peterson, James Moore, each an individual resident of the State of Vermont and Jeffrey Irish, an individual resident of the State
      of Florida, solely in their capacity as a Shareholder Representative (collectively, the “Shareholder Representative Group”).

    

    

    Whereas, the Parent, iSun Residential, Merger Sub, the Company, and the Shareholder Representative Group  are parties to an Agreement and Plan of Merger dated September 8, 2021 (the “Agreement”;
      capitalized terms used in this Amendment and not defined shall have the meanings given in the Agreement); and

    

    

    Whereas, the Buyer and the Seller desire to amend the Agreement as set forth herein;

    

    

    NOW THEREFORE, the parties agree as follows:

    

    

    1.          Exhibit G to the Agreement is hereby amended as follows:

     

    	

          	a.	
            The paragraph entitled “Form of Earn-out Payment” is deleted in its entirety and replaced with the
                following: “Form of Earn-out Payment. The Earn-Out
                consideration shall be paid in cash by wire transfer of immediately available funds to an account specified in writing by the Shareholder Representative Group.”

          

     

    2.          All terms and conditions of the Agreement not amended hereby are and shall remain in full force and effect.

    

    

    [Signature Pages Follow]

     

    

    
      
        

    

    IN WITNESS WHEREOF, the parties have executed or caused this Amendment to be executed as of the dated first mentioned above.

    

    

    	 	
            PARENT:

          
	 	 
	 	
            iSUN, INC.

          
	 	 
	 	
            By:

          	
            /s/ Jeffrey Peck                

                

          
	 	 	
            Name: Jeffrey Peck

          
	 	 	
            Title: CEO

          

     

    	 	
            iSUN RESIDENTIAL:

          
	 	 
	 	
            iSUN RESIDENTIAL INC.

          
	 	 
	 	
            By:

          	
            /s/ Jeffrey Peck                

          
	 	 	
            Name: Jeffrey Peck

          
	 	 	
            Title: CEO

          

     

    	 	
            MERGER SUB:

          
	 	
            iSUN RESIDENTIAL MERGER SUB, INC.

          
	 	
            By:

          	
            /s/ Jeffrey Peck                

          
	 	 	
            Name: Jeffrey Peck

          
	 	 	
            Title: CEO

          

    

    

     

    Signature Page to First Amendment to Agreement and Plan of Merger

     

    
      
        

    

    IN WITNESS WHEREOF, the parties have executed or caused this Amendment to be executed as of the dated first mentioned above.

     

    

    	 	
            COMPANY:

          
	 	 
	 	
            SOLARCOMMUNITIES, INC.

          
	 	 
	 	
            By:

          	
            /s/ Duane Peterson           

              

          
	 	 	
            Name: Duane Peterson

          
	 	 	
            Title: Co-President

          

     

    	 	
            SHAREHOLDER REPRESENTATIVE GROUP:

          
	 	 
	 	
            /s/ Duane Peterson                   

              

          
	 	
            Duane Peterson

          
	 	 
	 	
            /s/ James Moore                       

              

          
	 	
            James Moore

          
	 	 
	 	
            /s/ Jeffrey Irish                         

            

          
	 	
            Jeffrey Irish

          

    

    

    Signature Page to First Amendment to Agreement and Plan of Merger

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