Document:

Registration Rights Agreement

 Exhibit 4.8 
 REGISTRATION RIGHTS AGREEMENT 
 This REGISTRATION RIGHTS AGREEMENT, dated
effective as of June 6, 2011 (this “Agreement”), is between Lighting Science Group Corporation, a Delaware corporation (the “Company”) and Geveran
Investments Ltd., organized under the laws of the jurisdiction of Cyprus (the “Investor”). 

WITNESSETH: 
 WHEREAS, the Investor has purchased 6,250,000 shares of the Company’s common stock, par value US$0.001 per share (“Common Stock”), at a price of US$4.00
per share and for the aggregate consideration of US$25,000,000.00; and 
 WHEREAS, the Investor and the Company desire to
enter into this Agreement to provide for certain rights relating to the registration of such Common Stock. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1. Certain Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

 “Affiliate” means any Person that, directly or indirectly, through one or more
intermediaries, controls or is controlled by or is under common control with the Person specified. For purposes of this definition, control of a Person means the power, direct or indirect, to direct or cause the direction of the management and
policies of such Person, whether by contract, through the ownership of voting securities, or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing;
provided, that, for purposes of this Agreement, in no event shall any Holder be deemed an Affiliate of the Company. 

“Commission” means the Securities and Exchange Commission, or any other federal agency at the time
administering the Securities Act. 
 “Convertible Securities” means any evidences of
indebtedness, including bonds and debentures, shares, including preferred stock, warrants, options or other securities that are convertible into or exchangeable or exercisable for Common Stock. 

“Exchange Act” means the Securities Exchange Act of 1934, or any successor federal
statute, and the rules and regulations of the Commission thereunder, as the same may be amended from time to time. 

“Holder” or “Holders” means the Investor and/or any subsequent Permitted Transferee.

 “Person” means an individual, a corporation, a
partnership, an association, a joint-stock company, a trust, any unincorporated organization, or a government or political subdivision thereof. 
 “Permitted Transferee” means any Person to whom Registrable Securities may be transferred in accordance with the requirements set forth in Section 7.

 “Re-IPO” means the sale of the Company’s Common Stock for cash to the public in an underwritten
public offering pursuant to the Registration Statement filed and declared effective under the Securities Act. 

“Registration Statement” means the registration statement on Form S-1 (Registration Statement
No. 333-172165) filed by the Company with the Commission in compliance with the Securities Act and the rules and regulations promulgated thereunder. 
 “Registrable Securities” means (i) all of the shares of Common Stock owned or held as of the date of this Agreement by the Investor or acquired at any time hereafter if at
such time the Investor holds Registrable Securities, including in each case any vested shares of Common Stock issuable pursuant to the exercise of any Convertible Securities (provided that the underlying shares have vested); (ii) any shares of
Common Stock owned or held by, or issuable pursuant to the conversion, exchange or exercise of any Convertible Securities (provided that the underlying shares have vested) to, a transferee of the Investor to whom rights, duties and obligations under
this Agreement are assigned by the Investor in accordance with Section 7; and (iii) any shares of capital stock or other securities of the Company issued as a dividend or other distribution with respect to or in exchange for or in
replacement of any of the Registrable Securities described in (i) and (ii) above; provided, that as to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a registration
statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged pursuant to such registration statement; (b) such
securities shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of them shall not require registration under
the Securities Act; (c) such securities shall have ceased to be outstanding, or (d) the first date upon which such securities are saleable under Rule 144 (or any successor provision) promulgated by the Commission without regard to any
volume limitation requirements under Rule 144. 
 “Securities Act” means the Securities
Act of 1933, or any successor federal statute, and the rules and regulations of the Commission thereunder, as the same may be amended from time to time. 
 Section 2. Piggyback Registration. 
 (a) If at any time, the Company
proposes to effect the Re-IPO, the Company shall promptly provide each Holder with written notice (which notice shall be given not less than fifteen (15) days prior to the expected effective date of the Registration Statement) of such
registration (the “Piggyback Registration”), which notice shall offer such Holder the opportunity to register such amount of Registrable Securities as it shall request. Each Holder of

  
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Registrable Securities shall have five (5) days from the date of receipt of the Company’s notice to deliver to the Company a written request for inclusion of such Holder’s
Registrable Securities, specifying the number of such Registrable Securities to be included in the registration. Subject to Section 2(a), the Company shall use all commercially reasonable efforts to include in such registration all the
Registrable Securities requested to be included by any Holder in accordance with this Section 2(a). In connection with the Piggyback Registration, the Board of Directors of the Company shall select the institution or institutions that
shall manage or lead such offering (the “Underwriter”). 
 (b) Notwithstanding anything to the contrary
in Section 2, the right of any Holder to participate in the Piggyback Registration shall be conditioned upon such Holder agreeing to: (i) sell all of its Registrable Securities included in such registration on the basis provided in
any underwriting arrangements approved by the Company for the Re-IPO and (ii) complete and execute all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such
underwriting arrangements. 
 (c) If the Underwriter advises the Company that in its opinion the number of securities requested
to be included in such registration exceeds the number that can reasonably be sold in such offering at a price range that is acceptable to the Company, then the Company shall include in such registration: (i) first, all of the securities that
the Company proposes to sell (the “Company Shares”); (ii) second, all of the securities requested to be included therein by any Persons exercising demand registration rights granted by the Company (the
“Demand Shares”); and (iii) third, the Pro Rata Amount (as defined below) of Registrable Securities requested by the Holders to be included therein. With respect to any Holder, the
“Pro Rata Amount” of Registrable Securities shall be equal to the product of (x) the maximum number of registrable securities that the Underwriter estimates can be underwritten in connection with such
registration at a price range that is acceptable to the Company less the Company Shares and the Demand Shares and (y) a fraction, the numerator of which shall equal the number of Registrable Securities that such Holder requested be
included in such registration, and the denominator of which shall equal the total number of Registrable Securities that were requested to be included in such registration by all Holders. If the number of Registrable Securities that any Holder
requested be included in the Piggyback Registration is to be reduced as a result of this Section 2(c), the Company shall promptly notify such Holder of any such reduction and the number of Registrable Securities of such Holder that will be
included in such registration. 
 (d) If in connection with any Piggyback Registration any Holder disapproves of the terms of
the underwriting, such Holder may elect to withdraw from such underwriting by delivering written notice to the Company and the Underwriter at least seven (7) days prior to the effective date of the Registration Statement. Any Registrable
Securities withdrawn from such underwriting shall also be withdrawn from such registration. 
 (e) Nothing in this Agreement
shall create any liability on the part of the Company to the Holders if the Company in its sole discretion should decide to withdraw the Registration Statement prior to its effectiveness or, if the Re-IPO is not consummated, subsequent to its
effectiveness, regardless of any action whatsoever that a Holder may have taken, whether as a result of the issuance by the Company of any notice hereunder or otherwise. 

  
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 (f) Upon receipt of written notice from the Company that a Registration Statement or
prospectus contains a misstatement, each Holder of Registrable Securities shall forthwith discontinue the disposition of Registrable Securities until the Holder has received copies of the supplemented or amended prospectus that corrects such
misstatement, or until such Holder is advised in writing by the Company that the use of the prospectus may be resumed, and, if directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies of the
prospectus covering such Registrable Securities current at the time of receipt of such notice. 
 Section 3.
Registration Procedures. 
 (a) In the event the Company determines to consummate the Re-IPO, the Company shall use its
commercially reasonable efforts to: 
 (i) Prepare and file with the Commission such amendments, supplements and
post-effective amendments to the Registration Statement and the prospectus used in connection with the Registration Statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities covered by the Registration Statement and use its commercially reasonable efforts to cause the Registration Statement to become effective, and keep the Registration Statement effective until the distribution contemplated in the
Registration Statement has been completed; 
 (ii) Furnish to the Holders such numbers of copies of a prospectus,
including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(iii) Register or qualify the Registrable Securities covered by the Registration Statement under such other securities or
blue sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided, that the Company shall not be required in connection therewith or as a condition thereto (A) to qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(a)(iii); (B) subject itself to taxation but for this Section 3(a)(iii); or (C) consent to general service of process in any
jurisdiction in which it would not otherwise be subject to general service of process but for this Section 3(a)(iii); 
 (iv) Cause the Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be required by virtue of the
business and operations of the Company to enable the Holder or Holders thereof to consummate the disposition of such Registrable Securities; 

  
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 (v) Immediately notify the managing Underwriters, and each Holder under the
Registration Statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event which comes to the Company’s attention if as a result of such event the prospectus
included in the Registration Statement, as then in effect, contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances (and upon receipt of any such notice, each selling Holder agrees to suspend sales of Registrable Securities covered by such prospectus until such time as the Company notifies each Holder that the prospectus (as supplemented or amended)
no longer includes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing), and the Company
shall promptly prepare and furnish to such Holder a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances; 
 (vi) Cause all such Registrable Securities covered by the Registration Statement to be listed on each securities exchange or quotation system on which similar securities issued by the Company are then
listed, and enter into such customary agreements, including a listing application; provided, that the applicable listing requirements are satisfied; 
 (vii) Make available for inspection during normal business hours by any Holder of Registrable Securities covered by the Registration Statement, any Underwriter participating in any disposition pursuant to
the Registration Statement, and any attorney, accountant or other agent retained by any such Holder or Underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of
the Company and its subsidiaries (collectively, “Records”), if any, as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s and its subsidiaries’ officers,
directors and employees to supply all information and respond to all inquiries reasonably requested by any such Inspector in connection with the Registration Statement. Notwithstanding the foregoing, the Company shall have no obligation to disclose
any Records to the Inspectors in the event the Company determines that such disclosure is reasonably likely to have an adverse effect on the Company’s ability to assert the existence of an attorney-client privilege with respect thereto;

 (viii) Enter into such agreements (including an underwriting agreement in form, scope and substance as is
customary in underwritten offerings) and take all such other appropriate and reasonable actions requested by the Holders of a majority (by number of shares) of the Registrable Securities being sold in connection therewith (including those reasonably
requested by the managing Underwriters) in order to expedite or facilitate the disposition of such Registrable Securities; and 

  
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 (ix) Comply, and continue to comply during the period that the Registration
Statement is effective under the Securities Act, in all material respects with the Securities Act and the Exchange Act and with all applicable rules and regulations of the Commission with respect to the disposition of all Registrable Securities
covered by the Registration Statement, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months, but not more than eighteen (18) months, which
earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act. 
 (b) In connection with the
Registration Statement in which Holders are participating, each selling Holder of Registrable Securities shall furnish to the Company in writing such information and affidavits with respect to itself and its proposed distribution of Registrable
Securities as shall be reasonably necessary in order to assure compliance with federal and applicable state securities laws. 

Section 4. Registration Expenses. 
 (a) Subject to Section 4(b), all expenses incident to the Company’s performance of or compliance with this Agreement, including, without limitation, all registration, qualification and
filing fees, fees and expenses of compliance with federal and applicable state securities laws, printing expenses, escrow fees, messenger and delivery expenses, and fees and disbursements of counsel for the Company and all independent certified
public accountants, Underwriters (excluding discounts and commissions) and other Persons, retained by the Company (all such expenses being herein called “Registration Expenses”), will be borne by
the Company. 
 (b) If the Holders choose to be represented by separate counsel in connection with the registration of the
Registrable Securities, then the Holders will bear the cost of such separate legal counsel. Any underwriting discounts or commissions incurred in connection with, and attributable to, the sale of Registrable Securities shall be borne by the Holders
of such Registrable Securities. 
 Section 5. Indemnification. 

(a) In the event of the Piggyback Registration of any of the Registrable Securities under the Securities Act pursuant to this Agreement,
the Company agrees to indemnify and hold harmless (i) each selling Holder of Registrable Securities and (ii) each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act) such selling Holder of Registrable Securities (any of the Persons referred to in this clause (ii) being hereinafter referred to as a “controlling person”) and (iii) the respective officers,
directors, partners, employees, representatives and agents of any selling Holder of Registrable Securities or any controlling person, to the fullest extent permitted by law, from and against any and all losses, claims, damages, liabilities,
judgments, actions and reasonable expenses (including without limitation and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing or defending any claim or action, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any such party) directly or indirectly caused by, related to, based upon, arising

  
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out of or in connection with any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities were registered
under the Securities Act (or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof), or any omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; provided, that the Company shall not be liable in any such case insofar as such losses, claims, damages, liabilities or expenses are caused by an untrue statement or omission or alleged untrue
statement or omission that is made in reliance upon and in conformity with information relating to any selling Holder of Registrable Securities that is furnished in writing to the Company by such selling Holder or any controlling person of such
selling Holder specifically for use in the Registration Statement or prospectus; provided, further, that the indemnity agreement contained in this Section 5(a) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability, judgment, action or expense if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 
 (b) In the event of the Piggyback Registration of any of the Registrable Securities under the Securities Act pursuant to this Agreement, each selling Holder of Registrable Securities thereunder agrees,
severally and not jointly, to indemnify and hold harmless the Company, and its respective directors, officers, and each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act)
the Company, and the respective officers, directors, partners, employees, representatives and agents of each such Person, each Underwriter and each Person, if any, who controls any Underwriter (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act), and each other selling Holder of Registrable Securities and each Person who controls any such other selling Holder of Registrable Securities, to the fullest extent permitted by law, from and against any
and all losses, claims, damages, liabilities, judgments, actions and reasonable expenses (including without limitation and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing or defending any claim or action, or
any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any such party) directly or indirectly caused by, related to, based upon, arising out of or in
connection with any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities were registered under the Securities Act (or any preliminary prospectus or final
prospectus contained therein, or any amendment or supplement thereof), or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, that
such selling Holder of Registrable Securities will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage, liability, judgment, action or expense arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such selling Holder furnished in writing to such selling Holder by the Company or any controlling person of such selling
Holder specifically for use in the Registration Statement or prospectus; provided, further, that the indemnity agreement contained in this Section 5(b) shall not apply to amounts paid in settlement of any such loss, claim, damage,
liability, judgment, action or expense if such settlement is effected without the consent of such selling Holder (which consent shall not be unreasonably withheld). 

  
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 (c) Promptly after receipt by an indemnified party hereunder of notice of the commencement
of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission to promptly notify the indemnifying party shall not
relieve it from any liability which it may have to any indemnified party under this Section 5, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In case any such action shall be
brought against any indemnified party and it shall promptly notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense
thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election to assume and undertake the defense thereof, the indemnifying party shall not be liable
to such indemnified party under this Section 5 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so
selected; provided, that if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have reasonably concluded in writing that there may be reasonable defenses
available to it which are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified
party shall have the right to select a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such
participation to be reimbursed by the indemnifying party as incurred. Notwithstanding the foregoing, any indemnified party shall have the right to retain its own counsel in any such action, but the fees and disbursements of such counsel shall be at
the expense of such indemnified party; provided, that such fees and expenses shall be at the expense of the indemnifying party if (i) the indemnifying party shall have failed to retain counsel for the indemnified party in accordance with
this Section 5(c) or (ii) the indemnifying party and such indemnified party shall have mutually agreed to the retention of such counsel. It is understood that the indemnifying party shall not, in connection with any action or
related actions in the same jurisdiction, be liable for the fees and disbursements of more than one separate firm qualified in such jurisdiction to act as counsel for the indemnified party. No indemnifying party, in the defense of any such claim or
litigation, shall, except with the written consent of such indemnified party, which consent shall not be unreasonably withheld, consent to entry of any judgment or enter into any settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity was sought hereunder by such indemnified party unless such judgment or settlement includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect to such claim or litigation and does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of the indemnified party. The indemnification procedures
of Underwriters provided for in this Section 5 shall be on such other terms and conditions as are at the time customary and reasonably required by such Underwriter as provided in Section 2(b). 

  
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 (d) If the indemnification provided for in Section 5(a) and Section 5(b)
above is unavailable or insufficient to hold harmless an indemnified party under such sections in respect of any losses, claims, damages, liabilities, judgments, actions or expenses in respect thereof referred to therein, then each indemnifying
party shall in lieu of indemnifying such indemnified party contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities, judgments, actions or expenses in such proportion as appropriate
to reflect the relative fault of the Company, on the one hand, and the Underwriters or the selling Holders of such Registrable Securities, on the other, in connection with the statements or omissions which resulted in such losses, claims, damages,
liabilities, judgments, actions or expenses as well as any other relevant equitable considerations, including, without limitation, the failure to give any notice under Section 5(c) above. The relative fault shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact relates to information supplied by the Company, on the one hand, or the Underwriter or the selling Holders of such Registrable Securities, on the
other, and to the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and each of the Holders agrees that it would not be just and equitable if contributions
pursuant to this Section 5(d) were determined by pro rata allocation (even if all of the selling Holders of such Registrable Securities were treated as one entity for such purpose) or by any other method of allocation which did not take
account of the equitable considerations referred to above in this section. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities, judgments, actions or expenses in respect thereof, referred to in
this Section 5(d), shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act), shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

Section 6. Rule 144. The Company agrees with the Holders that it shall file any and all reports required to be filed by it
under the Securities Act and the Exchange Act and the rules and regulations adopted by the Commission thereunder. Upon the written request of any Holder, the Company shall promptly furnish to such Holder a written statement by the Company as to its
compliance with the reporting requirements set forth in this Section 6. 
 Section 7. Transfers of
Registration Rights. The rights of a Holder hereunder may only be transferred or assigned in connection with a transfer of Registrable Securities to an Affiliate or a successor of the Investor. Notwithstanding the foregoing, such rights may only
be transferred or assigned; provided, that all of the following additional conditions are satisfied: (a) the aggregate amount of Registrable Securities transferred to such transferee amounts to at least 1% of the then issued and
outstanding Common Stock, which with respect to the shares of Common Stock issuable pursuant to Convertible Securities shall be calculated in accordance with Section 13 of the Exchange Act and the rules and regulations promulgated thereunder;
(b) such transfer or assignment is effected in accordance with applicable securities laws; (c) such transferee or assignee agrees in writing to become subject to the terms of this Agreement; and (d) the Company is given written notice
by such Holder of such transfer or assignment, stating the name and address of the transferee or assignee and identifying the Registrable Securities with respect to which such rights are being transferred or assigned. 

  
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 Section 8. Headings. The underlined headings contained in this Agreement are for
convenience of reference only, shall not be deemed to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement. 

Section 9. Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any
jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment
of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination shall have the power to limit the term or provision, to delete specific
words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this
Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term or provision with a valid and enforceable
term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term. 
 Section 10. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns (if any). No party may assign this
Agreement or any rights, interests or obligations hereunder (in whole or in part, by operation of law or otherwise) to any Person without the prior written consent of the other party, and any attempt to make such assignment without such consent
shall be null and void ab initio. 
 Section 11. Entire Agreement; Modification. This Agreement constitutes
the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral and written, between the parties hereto with respect to the subject matter hereof. None of the provisions
of this Agreement may be amended, modified or supplemented, and waivers or consents to departures from the provisions thereof may not be given, unless the Company has obtained the written consent of Holders holding a majority of the Registrable
Securities; provided, that a waiver or consent to departure from the provisions of this Agreement that relates exclusively to the rights of Holders whose Registrable Securities are being sold pursuant to a Registration Statement and that does
not directly or indirectly adversely affect the rights of any other Holders may be given by the Holders of a majority of the Registrable Securities being sold. Notwithstanding the foregoing, no Holder’s rights under Section 5 may be
adversely affected without the consent of such Holder. 

  
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 Section 12. Notices. All notices, requests, demands, claims and other
communications that are required or may be given pursuant to this Agreement must be in writing and delivered personally against written receipt, by facsimile, by email or by reputable domestic or international overnight courier to the parties at the
following addresses (or to the attention of such other Person or at such other address as any party may provide to the other party by notice in accordance with this Section 7): 

 

			
	If to the Company, to it at:	  	
		  	 Lighting Science Group Corporation 1227
South Patrick Drive
 Building 2A
 Satellite Beach, FL 32937 Attention:
General Counsel Telephone: (321)
779-5520
Facsimile: (321) 779-5521
 Email: Greg.Kaiser@1sgc.com

		
	with a copy to:	  	
		  	 Haynes and Boone, LLP
 2323
Victory Avenue, Suite 700
 Dallas, TX 75219
 Attention: Greg R. Samuel
 Telephone: (214) 651-5645

Facsimile: (214) 200-0577
 Email:
Greg.Samuel@haynesboone.com

		
	If to the Investor, to it at:	  	
		  	 Geveran Investments Ltd.

c/o Seatankers Management Co. Ltd.
 P.O. Box
53562
 CY-3399 Limassol

Cyprus
 Attention: Dimitris Hannas

Telephone: +357 258 58 300
 Facsimile: +357 253
23 770
 Email: dimitris.hannas@cytanet.com.cy

 

	with a copy to:	  	 Erling Lind
 Ruselokkveien
26
 P.O. Box 1400 Vika
 Oslo
0115
 Norway
 Direct Telephone: 011 47
2102 1020
 Company Telephone: 011 47 2102 1000
 Mobile: 011 47 9091 2395
 Facsimile: 011 47 2102 1001

Email: el@wiersholm.no

 Any such notice, request, demand, claim or other communication will be deemed to have been given
(a) if personally delivered, when so delivered, (b) if sent by facsimile or email, upon transmission with electronic confirmation thereof or (c) if sent by reputable domestic or international overnight courier, when received.

 Section 13. Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute
an original and all of which, when taken 

  
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together, shall constitute one agreement. The exchange of a fully executed Agreement (in counterparts or otherwise) by fax or email (in .pdf or .tif format) transmission shall be sufficient to
bind the parties to the terms and conditions of this Agreement. No party to this Agreement will raise the use of a fax or email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through
the use of a fax or email as a defense to the formation or enforceability of a contract, and each such party forever waives any such defense. 
 Section 14. Remedies Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under this Agreement, a Holder may proceed to
protect and enforce its rights by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any. power granted in
this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive,
and each such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise. 

Section 15. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. Each of the parties hereby agrees that any action, proceeding or claim against it arising out of or
relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive. Each of the parties hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 
 Section 16. Interpretation. As used herein, the words “hereof”, “herein”, “herewith” and words of similar import shall, unless otherwise stated, be construed to
refer to this Agreement as a whole and not to any particular provision of this Agreement, and the word “Section” refers to a Section of this Agreement unless otherwise specified. Whenever the words “include”, “includes”
or “including” are used in this Agreement they shall be deemed to be followed by the words “without limitation”. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms
and to the masculine as well as to the feminine and neuter genders of such terms. 
 [SIGNATURE PAGE FOLLOWS] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as an
instrument under seal as of the date and year first above written. 
  

			
	LIGHTING SCIENCE GROUP CORPORATION
		
	By:	 	 /s/ Gregory T. Kaiser

	 Name:
	 	Gregory T. Kaiser
	Title:	 	Chief Financial Officer
	
	GEVERAN INVESMENTS LTD.
		
	By:	 	 /s/ Fredrik Halvorsen

	Name:	 	Fredrik Halvorsen
	Title:	 	Director

 Signature Page to 
 Registration Rights Agreement 

  
 13Subscription Agreement

 Exhibit 10.8 
 EXECUTION VERSION 
 SUBSCRIPTION AGREEMENT 

THIS SUBSCRIPTION AGREEMENT (this “Agreement”)
is entered into as of May 10, 2011 between LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (the “Company”), and GEVERAN INVESTMENTS LTD., organized
under the laws of the jurisdiction of Cyprus (the “Purchaser”). 
 WHEREAS, the Purchaser has agreed to purchase 6,250,000 shares (the “Purchased Shares”) of the
Company’s common stock, par value US$0.001 per share (“Common Stock”), at a price of US$4.00 per share (the “Purchase
Price”), and for the aggregate consideration of US$25,000,000.00 (the “Consideration”). 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 

1. Purchase and Sale of Common Stock. The Company is offering the Purchased Shares in a private placement offering of securities
exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), to the Purchaser who is not a “U.S. Person” as defined in Regulation S
(“Regulation S”) promulgated under the Securities Act (the “Offering”). The Purchaser shall purchase from the Company and the Company shall sell to such
Purchaser the Purchased Shares in accordance with the terms and conditions of this Agreement. 
 2. Payment for Common Stock;
Delivery of Certificate. No later than five (5) business days from the date hereof, the Purchaser shall transmit, or cause to be transmitted, by wire transfer of immediately available funds in U.S. dollars to the Company, in accordance with
the wire transfer instructions previously delivered to the Purchaser, an amount equal to the Consideration. On or promptly following the date such payment is transmitted by the Purchaser to the Company, the Company shall deliver to the Purchaser in
accordance with this Agreement a certificate representing the Purchased Shares. 
 3. Company Representations and
Warranties. The Company represents and warrants that as of the date hereof: 
 (a) The Company is a
corporation validly existing and in good standing under the laws of the State of Delaware and has the requisite corporate power to own its properties and carry on its business as presently conducted. 

(b) The issuance, sale and delivery of the Purchased Shares in accordance with this Agreement have been duly authorized by
all necessary corporate action on the part of the Company. 
 (c) This Agreement constitutes the legal, valid and
binding obligation of the Company, enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by the Company does not and will not conflict with, violate or cause a breach of, any agreement, contract or
instrument to which the Company is a party or any judgment, order or decree to which the Company is subject. 

 (d) Schedule 3(d) attached hereto sets forth a true, complete and
correct listing, as of May 5, 2011, of all of the Company’s outstanding: (i) shares of Common Stock and (ii) securities convertible into or exchangeable for shares of Common Stock (the “Derivative
Securities”), including the applicable exercise price of such Derivative Securities, other than any Derivative Securities issued pursuant to the Company’s Amended and Restated Equity-Based Compensation Plan or
the Company’s 2011 Employee Stock Purchase Plan (the “Management Equity”). Except as set forth in Schedule 3(d) and except for any Management Equity, the Company has no other outstanding equity
securities. 
 (e) SEC Reports; Financial Statements 

 

	 	i.	As of its filing date, the Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on April 1,
2011 (such filing, the “Company SEC Document”) complied in all material respects with the applicable requirements of the Securities Act of 1933, as amended (the “1933 Act”),
the Securities Exchange Act of 1934, as amended (the “1934 Act”), and the Sarbanes-Oxley Act of 2002, as the case may be, including, in each case, the rules and regulations promulgated thereunder.

  

	 	ii.	Except to the extent that information contained in the Company SEC Document has been revised or superseded by a document the Company subsequently filed with the SEC,
the Company SEC Document does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading. 

  

	 	iii.	The financial statements (including the related notes thereto) included in the Company SEC Document comply as to form in all material respects with applicable
accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with generally accepted accounting principles (“GAAP”) applied on a consistent basis during the
periods involved (except as may be indicated in the notes thereto) and fairly present in all material respects the consolidated financial position of the Company and its subsidiaries as of the dates thereof and their respective consolidated
results of operations and cash flows for the periods then ended, all in accordance with GAAP and the applicable rules and regulations promulgated by the SEC. Since April 1, 2011, the Company has not made any change in the accounting practices
or policies applied in the preparation of its financial statements, except as required by GAAP, the rules of the SEC or policy or applicable law. 

  

	 	iv.	Subsequent to the filing of the Company SEC Document with the SEC, there has been no material and adverse change or development, or event involving such a prospective
change, in the condition, business, properties or results of operations of the Company and its subsidiaries. 

  
 2 

 (f) The Company is a “Reporting Issuer” as defined in Regulation S
and is not an investment company registered or required to register as such under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”).

 (g) The Common Stock is a class of securities registered under Section 12(g) of the Exchange Act, and the
Company has filed all reports and documents required to be filed pursuant to the Exchange Act for a period of at least 12 months preceding the date hereof. All documents filed by the Company with the SEC pursuant to the Exchange Act for its most
recent full fiscal year and subsequent thereto are available from the Company. 
 (h) The Company has not offered
the Purchased Shares to any persons in the United States nor to any U.S. Person nor to any identifiable group or groups of U.S. citizens in the United States or abroad. 

(i) The Company intends to list its shares of Common Stock on the NASDAQ stock market in connection with its currently
pending firm commitment underwritten public offering (Registration No. 333-172165) co-managed by Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC (the “Re-IPO”), which is
currently scheduled to occur on or before July 31, 2011. 
 4. Purchaser Representations and Warranties. The
Purchaser represents and warrants to the Company that as of the date hereof: 
 (a) The Purchaser has been duly
formed and validly exists as a corporation or other legal entity in good standing under the laws of the jurisdiction of incorporation set forth above. The Purchaser is not organized under the laws of the United States, is not a U.S. Person,
and is not an “affiliate” of the Company as that term is used in the regulations promulgated under the Securities Act, nor associated with any individual or entity that may be deemed an “affiliate” of the Company as of the date
hereof. 
 (b) The Purchaser has the full power and authority to purchase, acquire and accept delivery of the
Purchased Shares. 
 (c) This Agreement constitutes the legal, valid and binding obligation of the Purchaser,
enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by the Purchaser does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Purchaser
is a party or any judgment, order or decree to which the Purchaser is subject. 
 (d) The Purchaser acknowledges
that this Agreement and the Purchased Shares are being sold in reliance upon the transactional exemption afforded by Regulation S in connection with an offshore offer and sale of securities of the Company not within or subject to the jurisdiction of
the United States markets. 

  
 3 

 (e) The Purchaser was not formed for the purpose of investing in securities
offered pursuant to the exemption provided by Regulation S or formed for the purpose of participating in this Offering. The Purchaser is not registered as an issuer under the Securities Act and is not required to be registered with the SEC
under the 1940 Act. The Purchaser is purchasing the Purchased Shares for its own account, for investment purposes, and not on behalf of any U.S. Person or with a view to, or intention of, distribution thereof in violation of the Securities Act, or
any applicable state securities laws. 
 (f) The Purchaser has not received any general solicitation or
advertising regarding the Offering or this Agreement. 
 (g) Purchaser has not received any offer to purchase
shares of Common Stock in the United States. At the time of the execution of this Agreement and, to the best knowledge of the Purchaser, at the time the Offering originated, the Purchaser was located and resident outside the United States.

 (h) Neither the Purchaser, nor any of its affiliates, nor any person acting on its behalf or on behalf of any
such affiliate has engaged in any activity undertaken for the purpose of, or that reasonably could be expected to have the effect of, conditioning the markets in the United States for the Common Stock or for any securities that are convertible into
or exercisable for Common Stock, including but not limited to effecting any sale or short sale of the Company’s securities through the Purchaser or any of its affiliates prior to the expiration of any restricted period contained in Regulation S
(any such activity being defined herein as a “Directed Selling Effort”). 
 (i) To the best knowledge of the Purchaser, this Agreement and the transactions contemplated herein are not part of a plan or scheme to evade the registration provisions of the Securities Act. The
Purchaser has agreed that all offers and sales of securities pursuant to this Offering prior to the date hereof and through the expiration of any restricted period set forth in Regulation S (as the same may be amended from time to time hereafter)
shall not be made to U.S. Persons or for the account or benefit of U.S. Persons and shall otherwise be made in compliance with the provisions of Regulation S and any other applicable provisions of the Securities Act. 

(j) The Purchaser acknowledges that: (i) this Offering and the Purchased Shares have not been registered under the
Securities Act or otherwise registered or qualified under the securities laws of any state or foreign jurisdiction and the transferability hereof and thereof within the jurisdiction of the United States is restricted by the Securities Act as well as
such state and foreign laws and (ii) no public agency has passed upon the accuracy or adequacy of any information provided to Purchaser or the fairness of the terms of its investment in its Purchased Shares. 

  
 4 

 (k) The Purchaser is sophisticated in financial matters and is able to
evaluate the risks and benefits of an investment in the Purchased Shares. The Purchaser understands and acknowledges that such investment is a speculative venture, involves a high degree of risk and is subject to risk of complete loss. The Purchaser
has carefully considered and has, to the extent the Purchaser deems necessary, discussed with the Purchaser’s professional legal, tax, accounting and financial advisers the suitability of its investment in the Purchased Shares and is able to
bear the economic risk of its investment in the Purchased Shares for an indefinite period of time. 
 (l) The
Purchaser has had an opportunity to ask questions and receive answers concerning the terms and conditions of the Offering, has had full access to such other information concerning the Company as has been requested and has had the opportunity to
consult with its legal counsel concerning this Agreement and Regulation S. 
 (m) The Purchaser is an
“accredited investor” as that term is defined under the Securities Act and Regulation D promulgated thereunder, as amended by Section 413 of the Private Fund Investment Advisers Registration Act of 2010 and
any applicable rules or regulations or interpretations thereof promulgated by the SEC or its staff. 
 5. Additional
Covenants of Purchaser. 
 (a) Concurrently with the execution of this Agreement, Purchaser shall execute and
deliver a lock-up agreement in the form attached hereto as Exhibit A; provided, that as soon as practicable, the parties shall enter into a “piggyback” registration rights agreement on customary terms whereby the
Purchaser will be permitted to sell the Purchased Shares in the Re-IPO at the expense of the Company (other than the expenses of Purchaser’s counsel and any underwriting discounts or commissions incurred in connection with, and attributable to,
the sale of the Purchased Shares in the Re-IPO), subject to standard: (i) indemnification provisions in favor of the Purchaser and (ii) “cut back” rights pursuant to which the lead underwriters may advise the Company in writing
that in their opinion the number of securities requested to be included in the Re-IPO exceeds the number that can reasonably be sold in such offering within a price range that is acceptable to the Company. 

(b) The Purchaser agrees that, following the expiration of any restricted period provided by Regulation S, the Purchased
Shares shall only be resold within the jurisdiction of the United States or to U.S. Persons by or for the account of the parties hereto: (i) pursuant to a registration statement under the Securities Act, or (ii) if applicable, pursuant to
an exemption from such registration in which case the Company may require an opinion of counsel satisfactory to the Company to the effect that such transfer may be made pursuant to an applicable exemption under the Securities Act. 

  
 5 

 (c) Neither the Purchaser, nor any of its affiliates, nor any person acting
on its behalf or any behalf of any such affiliate will, from the date hereof through the expiration of any restricted period contained in Regulation S, engage in any Directed Selling Effort. 

(d) The Purchaser shall not make any sale, transfer or other disposition of the Purchased Shares, including any hedging
transaction, in violation of the Securities Act, the Exchange Act, the rules and regulations promulgated thereunder or any applicable state securities laws. 
 6. Legends. Purchaser agrees that the certificate for the Purchased Shares will contain a legend substantially as follows: 
 “THE SECURITIES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”)) AND WITHOUT
REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.” 
 “TRANSFER OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION FROM
REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.” 
 Subject to any
lock-up or other similar agreement that may apply to the Purchased Shares, including any distribution compliance period required by Regulation S, the requirement that the Purchased Shares contain the legend set forth above in this Section 6
shall cease and terminate upon the earlier of (i) when such shares are transferred pursuant to Rule 144 under the Securities Act or (ii) when such shares are transferred in any other transaction if the transferor delivers to the Company a
written opinion of counsel (which opinion and counsel shall be reasonably satisfactory to the Company) to the effect that such legend is no longer necessary in order to protect the Company against a violation by it of the Securities Act upon any
sale or other disposition of such shares without registration thereunder. Upon the consummation of an event described in (i) or (ii) above, the Company, upon surrender of certificates containing such legend, shall, at its own expense,
deliver to the holder of any such shares as to which the requirement for such legend shall have terminated, one or more new certificates evidencing such shares not bearing such legend. 

  
 6 

 7. Subsequent Registered Equity Sales. If the Company sells shares of Common Stock in
the Re-IPO at a price per share of Common Stock (the “Offering Price”) that is less than the Purchase Price, then the Company shall promptly issue additional shares (the “Additional
Shares”) of Common Stock to the Purchaser. The amount of such Additional Shares shall be determined in accordance with the following formula: 
 Additional Shares = (Consideration / Offering Price) - Purchased Shares 

Notwithstanding the foregoing, the Company’s obligation to issue Additional Shares, if any, shall cease upon the first anniversary
of the date of this Agreement. 
 8. General Provisions. 

(a) Choice of Law. The laws of the State of New York without reference to the conflict of laws provisions thereof,
will govern all questions concerning the construction, validity and interpretation of this Agreement. 
 (b)
Legal Expenses. Each party to this Agreement shall be solely responsible for its own expenses incurred in connection with this Agreement and the transactions contemplated hereby. 

(c) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written
consent of the Company and Purchaser. 
 (d) Counterparts. This Agreement may be executed in counterparts,
each of which shall be an original and all of which shall constitute a single agreement. 
 (e) Acceptance by
the Company. It is understood that this subscription is not binding on the Company until the Company accepts it, which acceptance is at the sole discretion of the Company and shall be noted by execution of this Agreement by the Company where
indicated. 
 (f) Stockholder. The Purchaser hereby acknowledges that, once accepted by the Company, this
subscription is not revocable by the Purchaser. The Purchaser agrees that, if this subscription is accepted, the Purchaser shall, and the Purchaser hereby elects to: (i) become a stockholder of the Company; (ii) be bound by the terms and
provisions hereof; and (iii) execute any and all further documents when and as reasonably requested by the Company in connection with the transactions contemplated by this Agreement. 

(g) Publicity. Except as otherwise required by law, the Company hereby agrees and accepts that it shall not refer
to the Purchaser or its affiliates and/or the Purchaser’s investment in the Company for any marketing purposes in relation to subsequent securities offerings without having obtained the Purchaser’s prior approval thereof. 

* * * * * 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of
the date first written above. 
  

									
	PURCHASER:	 		 	COMPANY:
			
	GEVERAN INVESTMENT LTD.	 		 	 LIGHTING SCIENCE GROUP
 CORPORATION

					
	 By:
	 	 /s/ Fredrik Halvorsen
	 		 	By:	 	 /s/ Gregory T. Kaiser

	 Name:
	 	Fredrik Halvorsen	 		 	Name:	 	Gregory T. Kaiser
	 Title:
	 	Director	 		 	Title:	 	CFO

 Signature Page to Subscription Agreement 

  
 8

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