Document:

Exhibit
10.23

Novation
Agreement

ITN Energy Systems, Inc.
(Transferor), a corporation duly organized and existing under the laws of
Colorado with its principal office in Littleton, Colorado; Ascent Solar
Technologies, Inc. (Transferee), a corporation duly organized and existing
under the laws of Delaware with its principal office in Littleton, Colorado;
and the United States of America (Government) enter into this Novation
Agreement (“Agreement) January 1, 2007.

(a) The parties agree to the following facts:

(1) The Government, represented by various Contracting Officers of the
Airforce Research Laboratory Phillips Research Site has entered into certain
contracts with the Transferor, as shown in the attached list marked “Exhibit A”
and incorporated in this Agreement by Reference.  The term “the contracts,” as used in this
Agreement, means the above contracts and purchase orders including all
modifications thereto, made between the Government and the Transferor before
the effective date of this Agreement (whether or not performance and payment
have been completed and releases executed if the Government or the Transferor
has any remaining rights, duties, or obligations under these contracts and
purchase orders). Included in the term “the contracts” are also all modifications
made under the terms and conditions of these contracts and purchase orders
between the Government and the Transferee, on or after the effective date of
this Agreement.

(2) As of January 17, 2006, the Transferor has transferred to the
Transferee certain intellectual property assets of the Transferor by virtue of
an Assignment between the Transferor and the Transferee.  Effective January 1, 2007, all employees of
the Transferor who are working on “the contracts” will become employees of the
transferee.

(3) The Transferee has acquired all said assets and personnel of the
Transferor by virtue of the above transfer.

(4) The Transferee has assumed all obligations and liabilities of the
Transferor under the contracts by virtue of the above transfer.

(5) The Transferee is in a position to fully perform all obligations
that may exist under the contracts.

(6) It is consistent with the Government’s interest to recognize the
Transferee as the successor party to the contracts.

(7) Evidence of the above transfer has been filed with the Government.

(b) In consideration of these facts, the parties agree that by this
agreement —

(1) The Transferor confirms the transfer to the Transferee, and waives
any claims and rights against the Government that it now has or may have in the
future in connection with the contracts.

(2) The Transferee agrees to be bound by and to perform each contract
in accordance with the conditions contained in the contracts. The Transferee
also assumes all obligations and liabilities of, and all claims against, the
Transferor under the contracts as if the Transferee were the original party to
the contracts.

 

(3) The Transferee ratifies all previous actions taken by the
Transferor with respect to the contracts, with the same force and effect as if
the action had been taken by the Transferee.

(4) The Government recognizes the Transferee as the Transferor’s
successor in interest in and to the contracts. The Transferee by this Agreement
becomes entitled to all rights, titles, and interests of the Transferor in and
to the contracts as if the Transferee were the original party to the contracts.
Following the effective date of this Agreement, the term “Contractor,” as used
in the contracts, shall refer to the Transferee.

(5) Except as expressly provided in this Agreement, nothing in it shall
be construed as a waiver of any rights of the Government against the
Transferor.

(6) All payments and reimbursements previously made by the Government
to the Transferor, and all other previous actions taken by the Government under
the contracts, shall be considered to have discharged those parts of the
Government’s obligations under the contracts. All payments and reimbursements
made by the Government after the date of this Agreement in the name of or to
the Transferor shall have the same force and effect as if made to the
Transferee, and shall constitute a complete discharge of the Government’s
obligations under the contracts, to the extent of the amounts paid or
reimbursed.

(7) The Transferor and the Transferee agree that the Government is not
obligated to pay or reimburse either of them for, or otherwise give effect to,
any costs, taxes, or other expenses, or any related increases, directly or
indirectly arising out of or resulting from the transfer or this Agreement,
other than those that the Government in the absence of this transfer or
Agreement would have been obligated to pay or reimburse under the terms of the
contracts.

(8) The Transferor guarantees payment of all liabilities and the
performance of all obligations that the Transferee —

(i) Assumes under this Agreement; or

(ii) May undertake in the future should these contracts be modified
under their terms and conditions. The Transferor waives notice of, and consents
to, any such future modifications.

(9) The contracts shall remain in full force and effect, except as
modified by this Agreement. Each party has executed this Agreement as of the
day and year first above written.

	
  

  	
   

  	
  United States of America,

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Elizabeth Kerr-White

  
	
   

  	
   

  	
  Elizabeth Kerr-White

  
	
   

  	
  Title

  	
  Administrative Contracting Officer

  

 

 

	
  

  	
   

  	
  ITN Energy Systems, Inc.,

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ R. Scott Burrows

  
	
   

  	
  Title

  	
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Ascent Solar Technologies, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Janet Casteel

  
	
   

  	
  Title

  	
  Chief Accounting Officer/Treasurer

  

 

Certificate

I,  R. Scott Burrows, certify
that I am the Secretary of ITN Energy Systems, Inc.; that R. Scott Burrows, who
signed this Agreement for this corporation, was then Secretary of this
corporation; and that this Agreement was duly signed for and on behalf of this
corporation by authority of its governing body and within the scope of its
corporate powers. Witness my hand and the seal of this corporation this 1st day
of January 2007.

	
  By

  	
   

  	
  /s/ R. Scott Burrows

  	
   

  	
   

  

 

Certificate

I, Janet Casteel, certify that I am the Treasurer of Ascent Solar
Technologies, Inc., that Janet Casteel, who signed this Agreement for this
corporation, was then Treasurer of this corporation; and that this Agreement
was duly signed for and on behalf of this corporation by authority of its
governing body and within the scope of its corporate powers. Witness my hand
and the seal of this corporation this 1st day of January 2007.

	
  By

  	
   

  	
  /s/ Janet Casteel

  	
   

  	
   

  

 

 

Exhibit A

 

ITN Contracts
requesting to be novated to AST 1/01/07

Updated 11/29/06      All
Contracts Other than SBIR/STTR’s

	
  Job Code

  BW/Acronym

  	
   

  	
  Subject Area

  	
   

  	
  Customer

  	
   

  	
  Address of
  Contracting Office

  	
   

  	
  Principal

  investigator

  	
   

  	
  Contract No.

  	
   

  	
  Contract

  Type

  	
   

  	
  Period of

  Performance

  	
   

  	
  Total Contract

  Value

  	
   

  	
  Total Backlog

  thru 9/24/06

  
	
  BAA SILICONE SUB

  	
   

  	
  High Specific
  Power CIS-Alloy PV on Silicone Substrate Modules

  	
   

  	
  AFRL

  	
   

  	
  Air Force
  Research Laboratory (Det 8) 2251 Maxwell Avenue, SE Kirtland AFB, NM
  87117-5773 Attn: Rinda L. Kearney

  	
   

  	
  Lawrence Woods

  	
   

  	
  FA9453-05-C-0256

  	
   

  	
  CPFF

  	
   

  	
  11/4/05-1/31/07 with
  contract completion 4/04/07*

  	
   

  	
  $925,283

  	
   

  	
  $852,239

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  All Contracts Other than SBIR/STTR’s

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $925,283

  	
   

  	
  $852,239

  

 

 

SBIR/STTR Contracts

	
  Job Code

  BW/Acronym

  	
   

  	
  Subject Area

  	
   

  	
  Client

  	
   

  	
  Address of
  Contracting Office

  	
   

  	
  Principal

  investigator

  	
   

  	
  Contract No.

  	
   

  	
  Contract

  Type

  	
   

  	
  Period of

  Performance

  	
   

  	
  Total Contract

  Value

  	
   

  	
  Total Backlog

  thru 9/24/06

  
	
  CIGASNASA2

  	
   

  	
  CulnGalSe2 solar
  absorbers on flexible high-temperature substrates

  	
   

  	
  AFRL

  	
   

  	
  NASA Glenn
  Research Center Technology Support Branch 21000 Brookpark Road, Mail Stop
  500-306 Cleveland, OH 44135-3191 Attn: Marilyn D. Stotz

  	
   

  	
  Lawrence Woods

  	
   

  	
  NNC06-CA11C

  	
   

  	
  FP

  	
   

  	
  12/1/05-12/1/07

  	
   

  	
  $596,928

  	
   

  	
  $392,566

  
	
  BOTTOMCELL2

  	
   

  	
  Enabling Durable
  Bottom Cell for Multi-Junction Thin-Film Photovoltaics

  	
   

  	
  AFRL

  	
   

  	
  Air Force
  Research Laboratory (Det 8) 2251 Maxwell Avenue, SE Kirtland AFB, NM
  87117-5773 Attn: Sally M. Walton

  	
   

  	
  Lawrence Woods

  	
   

  	
  FA9453-03-C-0216

  	
   

  	
  CPFF

  	
   

  	
  10/30/03-3/17/07
  with contract completion 6/18/07**

  	
   

  	
  $1,234,093

  	
   

  	
  $253,466

  
	
  PASSIVATION2

  	
   

  	
  Defect
  Passivation for Production-Quality and High Bandgap CIGS and CIAS Solar Cells

  	
   

  	
  AFRL

  	
   

  	
  Air Force
  Research Laboratory (Det 8) 2251 Maxwell Avenue, SE Kirtland AFB, NM
  87117-5773 Attn: Sally M. Walton

  	
   

  	
  Garth Jensen

  	
   

  	
  FA9453-05-C-0036

  	
   

  	
  CPFF

  	
   

  	
  4/29/05-4/30/07
  with contract completion 7/30/07***

  	
   

  	
  $749,459

  	
   

  	
  $305,779

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  SBIR/STTR Contracts Subtotal

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $2,580,480

  	
   

  	
  $951,811

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  TOTAL ALL CONTRACTS

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $3,505,763

  	
   

  	
  $1,804,050

  

*                       Additional approx. $830,000 currently
being added to contract with an extension to July 2006 for technical
performance

**                   No cost extension request anticipated for technical
performance to 6/18/07.

***               No cost extension request anticipated for
technical performance to 7/30/07.Exhibit
10.24

AMENDMENT

TO

SERVICE CENTER
AGREEMENT

Amendment, dated
as of November 10, 2006, between Ascent Solar Technologies, Inc., a Delaware
corporation (“AST”), and ITN Energy Systems, Inc., a Colorado corporation (“ITN”),
to that certain Service Center Agreement (“Service Center Agreement”), dated as
of January 17, 2006, between AST and ITN.

RECITALS

WHEREAS, ITN has
requested approval from the Defense Contract Management Agency, DCMA Space
& Missile Systems Division (“DCMA”) to novate its existing CIGS PV
contracts with DCMA to AST and from the Naval Surface Warfare Center Crane
Division (“NSWC”) to novate its existing CIGS PV Contracts with NSWC to AST
(such currently existing contracts with DCMA and NSWC are collectively referred
to herein as “DCMA” and NSWC Contracts”); and

WHEREAS, to
satisfy any concerns that DCMA and NSWC may have that the Equipment (as defined
in the Service Center Agreement) that ITN has agreed to make available for use
by AST might not be available to AST for performance of the DCMA and NSWC
Contracts, AST and ITN have agreed to amend the Service Center Agreement as set
forth below.

Accordingly, the
parties hereto hereby agree as follows:

1.             Section 1 of the Service Center
Agreement is hereby amended to read in full as follows:

1.                                       Service
Center Agreement.  Upon the terms and
conditions set forth herein, ITN will allow AST to use certain of ITN’s
laboratories, laboratory equipment and research and development tools and
equipment (collectively “Equipment”), on an as needed basis, but subject to ITN’s
right of first use.  Notwithstanding the
foregoing, in the event AST needs to use the Equipment in order to perform its
obligations under the DCMA Contracts, then the parties agree to work out a
mutually acceptable schedule so that AST’s need for the Equipment under the
DCMA Contracts and ITN’s need for the Equipment can each be accommodated
without the other party having the right of first use.

2.             All other terms and conditions of
the Service Center Agreement shall remain the same.

 

IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the date first stated above.

	
  

  	
  ITN Energy Systems, Inc. a Colorado corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ashutosh Misra

  
	
   

  	
  Name:

  	
  Ashutosh Misra

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Ascent Solar Technologies, Inc., a Delaware
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Matthew Foster

  
	
   

  	
  Name:

  	
   Matthew
  Foster

  
	
   

  	
  Title:

  	
  President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]