Document:

Letter of Intent

 Exhibit 10.1 
 EPOD SOLAR INC. 
 September 18, 2009 

DayStar Technologies, Inc. 
 2972 Stender Way

 Santa Clara, California 
 Attn:
    Mr. Robert Aldrich 
               Interim
Chief Executive Officer and Chairman 
 Ladies and Gentlemen: 
 EPOD Solar Inc., a British Columbia corporation (“EPOD”), is pleased to present DayStar Technologies, Inc. (“DayStar”) with this letter of intent (this
“Letter of Intent”) regarding a proposed transaction or series of related transactions (collectively, the “Transaction”), the material terms of which are set forth on Annex A and are hereby
incorporated into this Letter of Intent, between EPOD (and/or one or more of its affiliates or shareholders) and DayStar, as more fully described below. In this Letter of Intent, EPOD and DayStar are sometimes referred to individually as a
“Party” and collectively as the “Parties.” 
 The Transaction is premised on the
mutual understanding of the Parties that the businesses of EPOD and DayStar are complimentary. EPOD is already in manufacturing mode with amorphous silicon technology, and its research and development arm is poised to deploy double and triple
junction technology PV module manufacturing. These capabilities would allow the combined company to start building pipeline power projects immediately in Canada and Europe. Amorphous silicon PV modules are best suited for large utility-scale ground
mount projects at competitive costs. DayStar’s CIGS technology represents a high potential thin-film technology. The combined company will utilize its combined financial and research and development resources to bring the CIGS technology to
commercial production. This approach would allow a parallel track to benefits from both technologies for the future growth of the combined business model. 
 Simultaneously with the execution and delivery of this Letter of Intent, and in connection with the Transaction, DayStar and Peter Alan Lacey, acting on behalf of TD Waterhouse RRSP Account 240832S in
Trust for Peter Alan Lacey as beneficiary (“the Lacey RRSP Account”), have entered into a Purchase Agreement (the “Purchase Agreement”) of even date herewith, pursuant to which the Lacey RRSP Account
has agreed to loan to DayStar, for purposes of funding DayStar’s ongoing research and development and related business operations, an amount of $2,000,000 (the “Loan”). Pursuant to the Purchase Agreement, for an
aggregate purchase price of $2,000,000, DayStar will issue to the Lacey RRSP Account or as directed by Mr. Lacey on behalf of the Lacey RRSP Account (a) a Secured Convertible Promissory Note (the “Note”) in the
aggregate principal amount of the Loan, (b) a warrant to purchase 1,500,000 shares of DayStar common stock (subject to adjustment for certain dilutive transactions) (the “First Warrant”), and (c) upon the
satisfaction of certain conditions, a warrant to purchase 1,666,667 shares of DayStar common stock (subject to adjustment for certain dilutive transactions) (the “Second Warrant”, and together with the First Warrant, the
“Warrants”). The Note will be convertible into shares of DayStar common stock based

 
on a $0.60 conversion price and the Warrants will have an exercise price of $0.50 per share. Simultaneously with the execution and delivery of this Letter of Intent, and in connection with the
Transaction, DayStar and the Lacey RRSP Account have also entered into a Registration Rights Agreement pursuant to which DayStar has granted to the Lacey RRSP Account registration rights with respect to the shares of DayStar common stock that may be
issued upon either conversion of the Note or exercise of the Warrants. 
 1. The Transaction. 
 (a) Subject to the terms and conditions set forth herein, during the Term (as defined below) the Parties agree to enter into good
faith negotiations to prepare definitive agreements (the “Agreements”) reflecting the terms of the Transaction set forth in this Letter of Intent, as well as (i) customary representations, warranties and covenants,
(ii) customary conditions to closing and (iii) appropriate indemnification provisions. The Parties agree that, for purposes of helping to expedite timing of the Transaction, EPOD’s counsel will prepare initial drafts of the
Agreements. 
 (b) The consummation of the Transaction will be subject to making or obtaining all necessary third-party filings
and approvals (including any required approval by the holders of DayStar’s common stock). In addition, the execution and delivery of the Agreements and consummation of the Transaction by the Parties will be subject to the condition, among
others, that each Party is, on the basis of its due diligence investigation and otherwise, satisfied, in its sole and absolute discretion, that such execution or delivery or consummation is not likely to have a material adverse effect, directly or
indirectly, on such Party’s business, assets, operations or prospects. 
 (c) The Parties covenant to use their reasonable
best efforts to make and obtain all necessary third-party filings and approvals in connection with the Transaction, including the recommendation of the DayStar board of directors to its stockholders that their approval of the Transaction (or any
part thereof) be given to the extent that such approval is required or pursued. By executing this Letter of Intent, DayStar represents and warrants to EPOD that its has obtained all corporate approvals, including the approval of its board of
directors, to execute, deliver and perform the terms of this Letter of Intent. 
 2. Termination. The term of this Letter
of Intent (the “Term”) will commence on the date both Parties have executed this Letter of Intent and will continue until the earliest of (a) the effective date of execution and delivery of the Agreements by the Parties,
(b) the date of delivery by either Party to the other of notice (any such notice, a “Termination Notice”) that the notifying Party has elected to terminate discussions concerning the Transaction or (c) 180 days
following the date of this Letter of Intent (the earliest such date is herein referred to as the “Termination Date”). This Letter of Intent, and each and all of the rights and obligations of the Parties under this Letter of
Intent, will (except as hereinafter provided) terminate effective upon the Termination Date From and after the Termination Date, no Party will have any obligation or liability to any other Party whatsoever, except that no termination will relieve
any Party for or with respect to liability for any breach of any of Sections 1(b), 3, 4, 5 or 7 of this Letter of Intent prior to such termination and, in any event, the Parties will remain bound by the provisions of Sections 5 and 7.

 3. Ordinary Course of Business. During the Term: (a) DayStar and its subsidiaries will conduct their business and
affairs only in the ordinary course of business consistent with past practices, and will refrain from any extraordinary transactions; (b) DayStar will use its best efforts to preserve and keep intact the business organization of DayStar and its
subsidiaries and to preserve the

  

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good will of DayStar’s customers, suppliers, creditors and others doing business with DayStar and its subsidiaries; and (c) DayStar and its subsidiaries will refrain from
(i) declaring or paying any dividend or making any other distribution with respect to any shares of any class of stock of DayStar (“DayStar Stock”) and (ii) redeeming, purchasing or acquiring, directly or
indirectly, any shares of any class of DayStar Stock. 
 4. Exclusive Negotiations. 
 (a) DayStar agrees that, during the Term, neither DayStar nor any of its Representatives will, directly or indirectly, (i) enter into
any agreements, understandings or negotiations with, or solicit, initiate or encourage any inquiries, proposals or offers from, any person other than EPOD or its affiliates relating to (A) any acquisition or purchase of any assets of DayStar or
any of its subsidiaries (other than sales of inventory, or immaterial portions of assets, in each case in the ordinary course), DayStar Stock or any securities of DayStar or any of its subsidiaries or (B) any merger, consolidation or business
combination involving DayStar or any of its subsidiaries; or (ii) with respect to any effort or attempt by any other person to do or to seek any of the types of transactions referred to in (i) above, (A) participate in any discussions
or negotiations; (B) furnish to any other person any data or information with respect to DayStar or any of its subsidiaries or (C) otherwise cooperate in any way with, assist or participate in or facilitate or encourage any such effort.
DayStar will immediately notify EPOD if any such inquiry, proposal or offer, or any contact with any person with respect thereto (whether by telephone, personal conversation, fax, email or otherwise) is made or received by DayStar or any of its
Representatives. 
 (b) During the Term, DayStar will not enter into any agreement or arrangement that does, or that reasonably
foreseeably might, have an adverse effect on its ability to enter into and perform the Transaction. 
 (c) DayStar represents
and warrants to EPOD that, except as contemplated hereby, there are no pending agreements or understandings with respect to the sale or exchange of DayStar Stock, or any assets or securities of DayStar or any of its subsidiaries (other than sales of
inventory, or immaterial portions of assets, in either case in the ordinary course). DayStar will terminate any pending negotiations or discussions with any other parties with respect to the DayStar Stock immediately upon execution of this Letter of
Intent, and DayStar will use its best efforts to recover from any such other parties any data and information furnished to them respecting DayStar. 
 5. Break-Up Fee. If (a) either (i) DayStar or any Representative of DayStar breaches any of the obligations of DayStar under Sections 1(b), 1(c), 2, 3 or 4 of this Letter of Intent
and, to the extent it receives notice of such breach, EPOD elects to terminate this Letter of Intent on the basis thereof, or (ii) DayStar delivers a Termination Notice to EPOD, and (b) within 12 months thereafter (a)(i) or
(ii) occurs, as the case may be, DayStar or any of its subsidiaries enters into a letter of intent or an agreement relating to the sale or exchange of 15% or more of the DayStar Stock or any of the assets or business of DayStar or any of its
subsidiaries, in one or a series of transactions, whether directly or indirectly, through purchase, merger, exchange, consolidation or otherwise (other than sales of inventory, or immaterial portions of the assets, in either case in the ordinary
course), whether or not such transaction is consummated, then, concurrently with entering into such letter of intent or agreement, DayStar will pay to EPOD a sum in cash equal to $5,000,000. Such fee will not serve as the exclusive remedy to EPOD
under this Letter of Intent in the event of a breach by DayStar, and EPOD will be entitled to all other rights and remedies available under law or in equity. No break-up fee will be payable in the event that EPOD either (i) breaches any of its
binding obligations under this Letter of Intent or (ii) fails to consummate the Transaction for any reason other than as provided in this Letter of Intent or as a result of the breach or default of DayStar. 
  

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 6. Confidentiality. Each Party will hold in strict confidence and not disclose to
third parties any data and information obtained from the other Party except that such Party may disclose such data and information to its employees, officers, directors, advisors, legal counsel, accountants, agents and representatives, as well as
any sources of financing it may consider in connection with the Transaction (collectively, “Representatives”). If the Transaction is not consummated, each Party will, at the other Party’s option, either return all such
data and information furnished to it to the other Party, or destroy all copies of such data and information in its possession (and cause its Representatives to do the same). 
 7. Disclosure Regarding the Transaction. Except as and to the extent required by law or applicable stock exchange rule, without the
written consent of the other Party, neither Party will, and each will direct its respective Representatives not to, directly or indirectly, make any public comment, statement or other communication with respect to, or otherwise disclose or permit
the disclosure of the existence of discussions regarding, the Transaction or any of the terms, conditions or other aspects of the Transaction. All press releases or other public communications relating thereto and the method of the release for
publication thereof will be subject to the prior written approval of each Party, which will not be unreasonably withheld. Notwithstanding anything to the contrary herein, the Parties are expressly authorized to disclose to any and all persons,
without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to any Party related to such tax treatment and tax structure.

 8. Governing Law. This Letter of Intent will be governed by and construed in accordance with the laws of the State of
Delaware, without giving effect to any choice-of-law principles that would require the application of the law of any other jurisdiction. 
 9. Counterparts; Execution by Facsimile. This Letter of Intent may be executed in any number of counterparts, each of which will be an original and all of which, when taken together, will
constitute one agreement, and this Letter of Intent will become effective upon receipt of a counterpart hereof from each of the parties hereto. Delivery of an executed counterpart of a signature page of this Letter of Intent by facsimile or other
electronic transmission will be effective as delivery of a manually executed counterpart of this Letter of Intent. 
 10.
Entire Agreement; Amendment; Construction. This Letter of Intent constitutes the entire agreement and understanding of the Parties in respect of the subject matter hereof and supersedes all prior understandings, agreements or representations by
or among the Parties, written or oral, to the extent they relate in any way to the subject matter hereof. This Letter of Intent may not be amended or modified except by a writing signed by all of the Parties. This Letter of Intent has been freely
and fairly negotiated among the Parties. If an ambiguity or question of intent or interpretation arises, this Letter of Intent will be construed as if drafted jointly by the Parties and no presumption or burden of proof will arise favoring or
disfavoring any Party because of the authorship of any provision of this Letter of Intent. All dollar amounts contained in this Letter of Intent refer to United States dollars. 
  

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 11. Binding Effect. This Letter of Intent constitutes a non-binding statement of the
Parties’ respective intentions with respect to the Transaction. This Letter of Intent does not, however, contain all matters upon which agreement must be reached in order for the Transaction to be consummated, and therefore does not constitute
a binding commitment or agreement with respect to the Transaction itself. Any such binding commitment or agreement with respect to the Transaction will result only from the execution and delivery of the Agreements, subject to the terms and
conditions expressed therein. NOTWITHSTANDING THE FOREGOING, THE PARTIES ACKNOWLEDGE AND AGREE THAT SECTIONS 1(b), 3, 4, 5 and 7 OF THIS LETTER OF INTENT ARE INTENDED TO CREATE, AND DO CREATE, FULLY BINDING LEGAL AND CONTRACTUAL
OBLIGATIONS OF THE PARTIES, WITH CONTRACTUAL CONSIDERATION CONSISTING OF THE REPRESENTATIONS AND WARRANTIES AND COVENANTS AND AGREEMENTS SET FORTH THEREIN (WHICH ARE BINDING). 
 [Remainder of Page Intentionally Left Blank] 
  

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 If the foregoing meets with your approval, please indicate your acceptance of the terms set
forth in this Letter of Intent by signing in the space provided below and on the enclosed copy and by returning the copy to us. Upon such execution and delivery, this Letter of Intent will, as and to the extent set forth in this Letter of Intent, be
a binding and legally enforceable agreement of the Parties. 
  

			
	Sincerely yours,
	
	EPOD Solar Inc.
		
	By:	 	 /s/ Michael Matvieshen

		 	Michael Matvieshen
		 	Chief Executive Officer

 Agreed to and accepted on this 18th day of September, 2009 
  

			
	DayStar Technologies, Inc.
		
	By:	 	 /s/ William S. Steckel

	Name:	 	William S. Steckel
	Title:	 	Chief Financial Officer

 Agreed and accepted on this 18th day of September, 2009 
  

			
	TD Waterhouse RRSP Account 240832S
		
	By:	 	 /s/ Peter Alan Lacey

	Name:	 	Peter Alan Lacey
	Title:	 	Authorized Signatory

 [SIGNATURE PAGE TO LETTER OF INTENT] 

 Annex A 
 Material Terms of Transaction 
  

	•	 	 The Transaction steps and structure will be determined by the Parties, and may involve one or more related transactions, including private placements,
mergers, share exchanges, asset purchases, stock purchases, and other actions. 

  

	•	 	 The Transaction is intended to result in the combination of the businesses of EPOD and Daystar. 

  

	•	 	 As consideration for such actions taken by EPOD in connection with the Transaction, DayStar will authorize and issue a new series of preferred shares
to the shareholders of EPOD. Each preferred share will be convertible into one share of DayStar common stock at a conversion price of $1.80 per share. In addition to receiving such preferred shares, such holder will also be entitled to receive
(without any additional consideration) a warrant to purchase 50% of the total number of shares of DayStar common stock issued upon such conversion. The warrant will have an exercise price of $1.80 per share. 

  

	•	 	 DayStar will either (a) enter into a registration rights agreement with respect to the registration of any DayStar Stock issued to EPOD with the
Securities and Exchange Commission granting both demand and piggyback registration rights to the holders of such DayStar Stock or (b) file a Registration Statement on Form S-4 with respect to the Transaction registering the issuance of any
DayStar Stock to EPOD.Purchase Agreement

 Exhibit 10.2 
 PURCHASE AGREEMENT 
 THIS
PURCHASE AGREEMENT (the “Agreement”) is made as of the 18th day of September, 2009 (the “Effective Date”) between DayStar Technologies, Inc., a Delaware corporation
(the “Company”), and TD Waterhouse RRSP Account 240832S, in trust for Peter Alan Lacey as beneficiary (the “Purchaser”). The Company and the Purchaser are sometimes referred to individually as a
“Party” and collectively as the “Parties.” 
 RECITALS 

 The Company desires to issue and the Purchaser desires to purchase (A) a secured convertible promissory note (the
“Note”) in substantially the form attached hereto as Exhibit A, (B) a warrant in substantially the form attached hereto as Exhibit B (the “First Warrant”), and (C) a warrant in
substantially the form attached hereto as Exhibit C (the “Second Warrant” and, together with the First Warrant, the “Warrants”). The Note, the Warrants and any securities issuable upon
conversion of the Note of the exercise of the Warrants are collectively referred to herein as the “Securities”. 
 AGREEMENT 
 Now, therefore, in consideration of the above Recitals and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree as follows: 
 1. PURCHASE
AND SALE OF NOTE AND WARRANTS. 
 1.1 Sale and Issuance of Note and Warrants. Subject to the terms and conditions of this Agreement, the Purchaser agrees to purchase at the Closing (as defined below), and the Company agrees to sell and issue to the Purchaser at the
Closing: 
 (i) the Note in substantially the form attached hereto as Exhibit A in the principal amount of
US$2,000,000, 
 (ii) the First Warrant in substantially the form attached hereto as Exhibit B, and 

(iii) the Second Warrant in substantially the form attached hereto as Exhibit C. 
 1.2 Closing; Delivery. 
 (a) Closing Date. The closing of the purchase and sale of the Note and the Warrants (the “Closing”) shall be held on September 18, 2009 or as soon thereafter as
practicable (the “Closing Date”) at a place and time to be determined by the Company and Purchaser. 

 (b) Deliveries at Closing. At the Closing (i) the Purchaser will deliver to the
Company payment of the Purchase Price with respect to the Note and the Warrants by wire transfer from the Purchaser to a bank designated by the Company and executed counterpart signature pages to the Security Agreement (as defined below) and the
Registration Rights Agreement (as defined below); and (ii) the Company shall issue and deliver to the Purchaser the executed Note in favor of the Purchaser, the executed First Warrant in favor of the Purchaser and executed counterpart signature
pages to the Security Agreement (as defined below) and the Registration Rights Agreement (as defined below). Subject to the execution and delivery of the amendment to the Rights Plan (as defined below) as set forth in Section 4.7, the Company
shall issue and deliver the executed Second Warrant as soon as possible after the Closing. The Parties agree that, unless and until such amendment is obtained, the Purchaser will not beneficially own the Second Warrant or any shares of stock
underlying the Second Warrant. 
 (c) Purchase Price. The “Purchase Price” of the Note and the Warrants shall
equal the principal amount of the Note. 
 1.3 Use of Proceeds. The Company must use the proceeds related to the sale of
the Note and the Warrants for (i) operating capital and (ii) funding of the Company’s ongoing research and development and related business operations, as more fully described in the Letter of Intent executed by the Parties on
September 18, 2009. The use of any such proceeds in any amount exceeding $5,000 must be approved by the Chief Executive Officer of the Company. 
 2. SECURITY INTEREST. The indebtedness represented by the Note shall be secured by certain assets of the Company as further provided in the Security Agreement attached hereto as Exhibit D (the
“Security Agreement”). 
 3. REGISTRATION RIGHTS. The shares of Company common
stock into which the Note may be converted and the Warrants may be exercised shall be subject to registration rights as further provided in the Registration Rights Agreement attached hereto as Exhibit E (the “Registration Rights
Agreement”). 
 4. REPRESENTATIONS, WARRANTIES AND COVENANTS
OF THE COMPANY. The Company hereby represents and warrants to the Purchaser as follows: 
 4.1 Corporate Power. The Company has all requisite corporate power to execute and deliver this Agreement and to carry out and perform its obligations under the terms of this Agreement. 

4.2 Authorization. All corporate action on the part of the Company, its directors and its shareholders necessary for the
authorization, execution, delivery and performance of this Agreement by the Company and the performance of the Company’s obligations hereunder, including the issuance and delivery of the Note and Warrants, has been taken prior to the Closing.
This Agreement, the Note when executed and delivered by the Company, and the Warrants when executed and delivered by the Company, shall constitute valid and binding obligations of the Company enforceable in accordance with their terms, subject to
laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. 
  

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 4.3 Issuance of the Securities. The Securities are duly authorized and, when issued
and paid for in accordance with this Agreement, the Security Agreement, the Note and the Warrants, will be duly and validly issued, fully paid and nonassessable (as applicable), and free and clear of all liens. The Company has reserved from its duly
authorized capital stock the maximum number of shares of common stock (i) issuable upon the conversion of the Note and (ii) that may be issued upon the exercise of the Warrants. 
 4.4 Governmental Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations,
declarations, or filings with, any governmental authority, required on the part of the Company in connection with the valid execution and delivery of this Agreement, the offer, sale or issuance of the Note and the Warrants or the consummation of any
other transaction contemplated thereby or hereby shall have been obtained and will be effective at the Closing or, except for notices required or permitted to be filed with certain state and federal securities commissions, which notices will be
filed on a timely basis. 
 4.5 No Conflicts. The execution, delivery and performance of this Agreement by the Company
and the performance of the Company’s obligations hereunder, including the issuance and delivery of the Note and the Warrants, will not (a) breach any law to which the Company or any of its subsidiaries or any of their assets is subject or
any provision of its organizational documents, (b) breach any contract, order or permit to which the Company or any of its subsidiaries is a party or by which it is bound or to which any of its assets is subject, or (c) trigger any rights
of first refusal, preferential purchase, or similar rights. 
 4.6 Offering. Assuming the accuracy of the representations
and warranties of the Purchaser contained in Section 5 hereof, the offer, issue, and sale of the Note and the Warrants is and will be exempt from the registration and prospectus delivery requirements of the Securities Act of 1933, as amended
(the “1933 Act”), and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit, or qualification requirements of all applicable state securities laws. 
 4.7 Delivery of Second Warrant. The Company agrees to use its best efforts to amend the Company’s Stockholder Rights Agreement
dated as of May 6, 2008 (the “Rights Plan”) as set forth in Exhibit F and to deliver the Second Warrant to Purchaser immediately upon the execution and delivery thereof, in each case to occur within three business days
of the date of this Agreement. In the event the Company does not obtain such amendment to the Rights Plan and deliver the Second Warrant to the Purchaser in accordance with this Section 4.7, then the Company shall immediately pay to the
Purchaser by wire transfer liquidated damages in the amount of $416,666.75. 
 5. REPRESENTATIONS, WARRANTIES
AND COVENANTS OF THE PURCHASER. The Purchaser represents, warrants and covenants to the Company as follows: 
 5.1 Purchase for Own Account. The Purchaser represents that it is acquiring the Note and the Warrants solely for its own account and
beneficial interest for investment and not with a view to or for sale in connection with any distribution of the Securities, has no present intention of selling, granting any participation in the same, and does not presently have reason to
anticipate a change in such intention. 
  

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 5.2 Information and Sophistication. The Purchaser acknowledges that it has received
all the information it has requested from the Company and it considers necessary or appropriate for deciding whether to acquire the Note and the Warrants. The Purchaser represents that it has had an opportunity to ask questions and receive answers
from the Company regarding the terms and conditions of the offering of the Note and the Warrants and to obtain any additional information necessary to verify the accuracy of the information given the Purchaser. The Purchaser further represents that
it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk of this investment. 
 5.3 Ability to Bear Economic Risk and Knowledge of Certain Risk Factors. The Purchaser acknowledges that investment in the Note and the Warrants involves a high degree of risk, and represents that
it is able, without materially impairing its financial condition, to hold the Note and the Warrants for an indefinite period of time and to suffer a complete loss of its investment. The Purchaser has evaluated the risks involved in investing in the
Note and the Warrants, and has determined that the Note and the Warrants are suitable investments for the Purchaser. 
 5.4
Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Purchaser further agrees not to make any disposition of all or any portion of the Securities unless and until there is then in effect a
registration statement under the 1933 Act covering such proposed disposition and such disposition is made in accordance with such registration statement or such disposition does not require registration under the 1933 Act or any applicable state
securities laws. In the event that Purchaser seeks to make a disposition of all or any portion of the Securities in the absence of registration under the 1933 Act and any applicable state securities laws, Purchaser shall furnish an opinion of
counsel reasonably satisfactory in form and in substance to the Company that such disposition is exempt from registration under the 1933 Act and any applicable state securities laws. 
 6. MISCELLANEOUS. 
 6.1 Binding Agreement. The terms
and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any third party any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 6.2
Governing Law; Waiver of Jury Trial. This Agreement shall be governed by and construed under the laws of the State of California without giving effect to the conflict of laws provisions thereof that would require the application of the law of
another jurisdiction. THE PARTIES EACH HEREBY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WAIVE THEIR RESPECTIVE RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY
DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. 
  

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 6.3 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 6.4 Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 6.5 Notices. Any notice required or permitted under this Agreement, the Note or the Warrants shall be given in writing and shall be deemed effectively given upon personal delivery, upon
confirmation of facsimile delivery, one day after deposit with a national overnight courier service, or three days after deposit with the United States Post Office, postage prepaid, addressed to the Company at 2972 Stender Way, Santa Clara,
California 95054, or to the Purchaser at its address shown on the signature page hereto, or at such other address as such Party may designate in writing to the other Party. 
 6.6 Modification; Waiver. No modification or waiver of any provision of this Agreement or consent to departure therefrom shall be
effective unless in writing and approved by the Company and the Purchaser of a majority in interest of the outstanding Loan Amount. 
 6.7 Expenses. Company and Purchaser shall bear the entire cost of its own expenses and legal fees incurred on its behalf with respect to this Agreement, the Note, the Warrants, the Security Agreement and the transactions contemplated
hereby and thereby. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the Note, the Security Agreement or any other agreement entered into in conjunction herewith or therewith, the prevailing party
shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 6.8 Entire Agreement. This Agreement, the Security Agreement, the Note, the Warrants, the Registration Rights Agreement, and the Exhibits hereto and thereto constitute the full and entire
understanding and agreement between the Parties with regard to the subjects hereof and no Party shall be liable or bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein
and therein. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the Parties have
executed this PURCHASE AGREEMENT as of the date first written above. 
  

					
	COMPANY:	 	DayStar Technologies, Inc.,
		 	a Delaware corporation
			
		 	By:	 	 /s/ William S. Steckel

		 	Name:	 	William S. Steckel
		 	Title:	 	Chief Financial Officer
		
	PURCHASER:	 	TD Waterhouse RRSP Account 240832S,
		 	In trust for Peter Alan Lacey as beneficiary
			
		 	By:	 	 /s/ Peter Alan Lacey

		 	Name:	 	Peter Alan Lacey
		 	Address:	 	RR#2 Site 19
		 		 	Box 6 Red Deer AB
		 		 	T4N 5E2

 [SIGNATURE PAGE TO PURCHASE AGREEMENT] 

 Exhibit A 
 Form of Promissory Note 
 [SEE ATTACHED]

 Exhibit B 
 Form of First Warrant 
 [SEE ATTACHED]

 Exhibit C 
 Form of Second Warrant 
 [SEE ATTACHED]

 Exhibit D 
 Form of Security Agreement 
 [SEE ATTACHED] 

 Exhibit E 
 Form of Registration Rights Agreement 
 [SEE
ATTACHED] 

 Exhibit F 
 Amendment to Rights Plan 
 [SEE ATTACHED]

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