Document:

Form of Common Stock Purchase Warrant

 Exhibit 10.3 
 Exhibit B 
 to 
 Note and Warrant Purchase Agreement 
 FORM OF WARRANT

 NEITHER THIS WARRANT NOR ANY SHARES OF COMMON STOCK ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE OFFERED, SOLD, OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS OR UNLESS OFFERED, SOLD OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THOSE LAWS. 
 NEXXUS LIGHTING, INC. 
 COMMON STOCK PURCHASE WARRANT 
  

			
	 No.                 
	  	June 26, 2008

 NEXXUS LIGHTING, INC., a Delaware corporation (the “Company”), hereby
certifies that
                                         
   , its permissible transferees, designees, successors and assigns (collectively, the “Holder”), for value received, is entitled to purchase from the Company at any time commencing on the effective date (the
“Effective Date”), which shall be the date of the Closing (as defined in the Note and Warrant Purchase Agreement (the “Securities Purchase Agreement”), dated as of June 26, 2008, by and among the Company and
the Purchasers listed on Schedule 1 thereto), and terminating on the third anniversary of such date (the “Termination Date”) up to
                     shares (each, a “Share” and collectively the “Shares”) of the Company’s Common
Stock, $.001 par value per Share (the “Common Stock”), at an exercise price per Share equal to                     
($            ) (the “Exercise Price”). The number of Shares purchasable hereunder and the Exercise Price are subject to adjustment as provided in
Section 4 hereof. Capitalized terms used and not otherwise defined herein will have the respective meanings given to such terms in the Securities Purchase Agreement. 
 1. Method of Exercise; Payment. 
 (a) Cash Exercise. The purchase rights
represented by this Warrant may be exercised by the Holder, in whole or in part, at any time, or from time to time, by the surrender of this Warrant (with the notice of exercise form (the “Notice of Exercise”) attached hereto as
Exhibit A duly executed) at the principal office of the Company, and by payment to the Company of an amount equal to the Exercise Price multiplied by the number of the Shares being purchased, which amount may be paid, at the election of the

  

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Holder, by (i) wire transfer or certified check payable to the order of the Company, (ii) cancellation by the Holder of indebtedness or other
obligations of the Company to the Holder or (iii) a combination of (i) and (ii). The person or persons in whose name(s) any certificate(s) representing Shares shall be issuable upon exercise of this Warrant shall be deemed to have become
the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the Shares represented thereby (and such Shares shall be deemed to have been issued) immediately prior to the close of business on the date or dates upon
which this Warrant is exercised. 
 (b) Net Issue Exercise. In lieu of exercising this Warrant pursuant to Section l
(a) hereof, the Holder may elect to receive a number of Shares equal to the value (as determined below) of such portion of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company
together with the Notice of Cashless Exercise annexed hereto as Exhibit C duly executed; provided that the Net Issue Exercise set forth in this Section 1(b) is subject to adjustments set forth in Section 4 of this Warrant. In such
event, the Company shall issue to the Holder a number of Shares computed using the following formula: 
 X = Y (A-B) 
       A 
  

					
	 Where X
	  	=	  	the number of Shares to be issued to the Holder.
			
	   Y    
	  	=	  	the number of Shares subject to this Warrant or, if only a portion of this Warrant is being exercised, the portion of the Warrant being canceled (at the time of such
calculation).
			
	   A    
	  	=	  	the fair market value of one share of the Company’s Common Stock (at the date of such calculation).
			
	   B    
	  	=	  	the Exercise Price (as adjusted to the date of such calculation).

 (c) Fair Market Value. For purposes of this Section 1, the fair market
value of the Company’s Common Stock shall mean: 
 (i) The average of the closing price of the Company’s Common
Stock quoted on the Nasdaq Stock Market or in the Over-The-Counter Market Summary or the closing price quoted on any exchange on which the Common Stock is listed, whichever is applicable, as published in the The Wall Street Journal for the
ten (10) trading days prior to the date of determination of fair market value; 
  

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 (ii) If the Company’s Common Stock is not traded on the Nasdaq Stock Market or
Over-The-Counter or on an exchange, the fair market value of the Common Stock per share shall be agreed upon by the parties hereto. If the parties cannot agree on the fair market value within five (5) business days of delivery of the Notice of
Exercise, the Board of Directors of the Company in good faith shall determine the fair market value of the Common Stock; provided, however, that the fair market value of the Common Stock shall be no greater than the price at which the Company last
sold its Common Stock or the exercise price of its last granted options, whichever occurs later. 
 (d) Stock
Certificates. In the event of any exercise of the rights represented by this Warrant, as promptly as practicable on or after the date of exercise and in any event within ten (10) days thereafter, the Company at its expense shall issue and
deliver to the person or persons entitled to receive the same a certificate or certificates for the number of Shares issuable upon such exercise. In the event this Warrant is exercised in part, the Company at its expense will execute and deliver a
new Warrant of like tenor exercisable for the number of Shares for which this Warrant may then be exercised. 
 (e)
Taxes. The issuance of the Shares upon the exercise of this Warrant, and the delivery of certificates or other instruments representing such Shares, shall be made without charge by the Company to the Holder for any tax or other charge in
respect of such issuance. 
 2. Warrant. 
 (a) Exchange, Transfer and Replacement. At any time prior to the exercise hereof, this Warrant may be exchanged upon presentation and surrender to the Company, alone or with other warrants of like tenor of
different denominations registered in the name of the same Holder, for another warrant or warrants of like tenor in the name of such Holder exercisable for the aggregate number of Shares as the warrant or warrants surrendered. 
 (b) Replacement of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or
mutilation of this Warrant and, in the case of any such loss, theft, or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company, or, in the case of any such mutilation, upon surrender and
cancellation of this Warrant, the Company, at its expense, will execute and deliver in lieu thereof, a new Warrant of like tenor. 
 (c) Cancellation; Payment of Expenses. Upon the surrender of this Warrant in connection with any transfer, exchange or replacement as provided in this Section 2, this Warrant shall be promptly canceled by the Company. The
Holder shall pay all taxes and all other expenses (including legal expenses, if any, incurred by the Holder or transferees) and charges payable in connection with the preparation, execution and delivery of Warrants pursuant to this
Section 2. 
  

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 (d) Warrant Register. The Company shall maintain, at its principal executive
offices (or at the offices of the transfer agent for the Warrant or such other office or agency of the Company as it may designate by notice to the holder hereof), a register for this Warrant (the “Warrant Register”), in which the
Company shall record the name and address of the person in whose name this Warrant has been issued, as well as the name and address of each transferee and each prior owner of this Warrant. 
 3. Rights and Obligations of Holders of this Warrant. The Holder of this Warrant shall not, by virtue hereof, be entitled to any rights of a
stockholder in the Company, either at law or in equity; provided, however, that in the event any certificate representing shares of Common Stock or other securities is issued to the holder hereof upon exercise of this Warrant, such
holder shall, for all purposes, be deemed to have become the holder of record of such Common Stock on the date on which this Warrant, together with a duly executed Election to Purchase, was surrendered and payment of the aggregate Exercise Price was
made, irrespective of the date of delivery of such Common Stock certificate. 
 4. Adjustments. 
 (a) Stock Dividends, Reclassifications, Recapitalizations, Etc. In the event the Company: (i) pays a dividend in Common Stock
or makes a distribution in Common Stock, (ii) subdivides its outstanding Common Stock into a greater number of shares, (iii) combines its outstanding Common Stock into a smaller number of shares or (iv) increases or decreases the
number of shares of Common Stock outstanding by reclassification of its Common Stock (including a recapitalization in connection with a consolidation or merger in which the Company is the continuing corporation), then (1) the Exercise Price on
the record date of such division or distribution or the effective date of such action shall be adjusted by multiplying such Exercise Price by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately before
such event and the denominator of which is the number of shares of Common Stock outstanding immediately after such event, and (2) the number of shares of Common Stock for which this Warrant may be exercised immediately before such event shall
be adjusted by multiplying such number by a fraction, the numerator of which is the Exercise Price immediately before such event and the denominator of which is the Exercise Price immediately after such event. 
 (b) Cash Dividends and Other Distributions. In the event that at any time or from time to time the Company shall distribute to all
holders of Common Stock (i) any dividend or other distribution of cash, evidences of its indebtedness, shares of its capital stock or any other properties or securities or (ii) any options, warrants or other rights to subscribe for or
purchase any of the foregoing (other than in each case, (w) the issuance of any rights under a shareholder rights plan, (x) any dividend or distribution described in Section 4(a), (y) any rights, options, warrants or
securities described in Section 4(c) and (z) any cash dividends or other cash distributions from current or retained earnings), then the number of shares of Common Stock issuable upon the exercise of this Warrant shall be increased
to a number determined by multiplying the number of shares of Common Stock issuable upon the exercise of this Warrant immediately prior to the record date for any such dividend or distribution by a fraction, 

  

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the numerator of which shall be such Current Market Value (as hereinafter defined) per share of Common Stock on the record date for such dividend or
distribution, and the denominator of which shall be such Current Market Value per share of Common Stock on the record date for such dividend or distribution less the sum of (x) the amount of cash, if any, distributed per share of Common Stock
and (y) the fair value (as determined in good faith by the Board of Directors of the Company, whose determination shall be evidenced by a board resolution, a copy of which will be sent to the Holders upon request) of the portion, if any, of the
distribution applicable to one share of Common Stock consisting of evidences of indebtedness, shares of stock, securities, other property, warrants, options or subscription or purchase rights; and the Exercise Price shall be adjusted to a number
determined by dividing the Exercise Price immediately prior to such record date by the above fraction. Such adjustments shall be made whenever any distribution is made and shall become effective as of the date of distribution, retroactive to the
record date for any such distribution. No adjustment shall be made pursuant to this Section 4(b) which shall have the effect of decreasing the number of shares of Common Stock issuable upon exercise of this Warrant or increasing the
Exercise Price. 
 (c) Combination: Liquidation. (i) In the event of a Combination (as defined below), each Holder
shall have the right to receive upon exercise of the Warrant the kind and amount of shares of capital stock or other securities or property which such Holder would have been entitled to receive upon or as a result of such Combination had such
Warrant been exercised immediately prior to such event (subject to further adjustment in accordance with the terms hereof). Unless paragraph (ii) is applicable to a Combination, the Company shall provide that the surviving or acquiring Person
(the “Successor Company”) in such Combination will assume by written instrument the obligations under this Section 4 and the obligations to deliver to the Holder such shares of stock, securities or assets as, in
accordance with the foregoing provisions, the Holder may be entitled to acquire. “Combination” means an event in which the Company consolidates with, mergers with or into, or sells all or substantially all of its assets to another
Person, where “Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision
thereof or any other entity; (ii) In the event of (x) a Combination where consideration to the holders of Common Stock in exchange for their shares is payable solely in cash or (y) the dissolution, liquidation or winding-up of the
Company, the Holders shall be entitled to receive, upon surrender of their Warrant, distributions on an equal basis with the holders of Common Stock or other securities issuable upon exercise of the Warrant, as if the Warrant had been exercised
immediately prior to such event, less the Exercise Price. In case of any Combination described in this Section 4, the surviving or acquiring Person and, in the event of any dissolution, liquidation or winding-up of the Company, the
Company, shall deposit promptly with an agent or trustee for the benefit of the Holders of the funds, if any, necessary to pay to the Holders the amounts to which they are entitled as described above. After such funds and the surrendered Warrant are
received, the Company is required to deliver a check in such amount as is appropriate (or, in the case or consideration other than cash, such other consideration as is appropriate) to such Person or Persons as it may be directed in writing by the
Holders surrendering such Warrant. 
  

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 (d) In the event that prior to June 26, 2009 the Company issues any Additional Stock
(as defined below) for a consideration per share less than the Exercise Price in effect immediately prior to the issuance of such Additional Stock, the Exercise Price in effect immediately prior to each such issuance shall forthwith be adjusted to
equal the consideration per share at which the Additional Stock was issued. In the case of the issuance of Additional Stock for cash, the consideration shall be deemed to be the amount of cash paid therefor before deducting any reasonable discounts,
commissions or other expenses allowed, paid or incurred by the Company for any underwriting or otherwise in connection with the issuance and sale thereof. In the case of the issuance of the Additional Stock for a consideration in whole or in part
other than cash, the consideration other than cash shall be deemed to be the fair value thereof as determined in good faith by the Board of Directors of the Company. For purposes of this Section 4(d), the term “Additional Stock” means
any Common Stock or securities which by their terms are convertible into or exchangeable for Common Stock or options to purchase or rights to subscribe for such convertible or exchangeable securities, except for (i) up to 1,500,000 shares of
Common Stock (or options, warrants or other rights to purchase such Common Stock) issued or issuable to employees, consultants, officers or directors of the Company pursuant to a stock option plan or restricted stock plan and any other equity
incentive plan or agreement approved by the Board of Directors, whether issued or issuable before or after the Effective Date, net of any such shares of Common Stock repurchased by the Company and any such options, warrants, or other rights to
purchase such Common Stock that expire unexercised, and subject to appropriate adjustment for stock splits, stock dividends, combinations or other recapitalizations with respect to such shares, (ii) securities issued in connection with
corporate partnering transactions, or in connection with bona fide acquisitions of businesses (whether pursuant to a merger, consolidation, asset acquisition or otherwise) approved by the Board of Directors, (iii) up to 4,860,712 shares of
Common Stock (subject to applicable adjustment for stock splits, stock dividends, combinations or other recapitalizations) issued or issuable upon the exercise of certain currently outstanding options, warrants or other rights to purchase or acquire
such Common Stock, (iv) up to 500,000 shares of Common Stock issued to vendors or customers or to other persons or entities in similar commercial situations with the Company if such issuance is approved by the Board of Directors, (v) up to
500,000 shares of Common Stock issued in connection with obtaining any equipment loan or leasing arrangement, real property leasing arrangement or debt financing from a bank or similar financial institution, whether issued to a lessor, guarantor or
other person or entity if such issuance is approved by the Board of Directors, and (vi) the Warrants, shares of Common Stock issuable upon exercise of the Warrants and such other securities issued with the prior written consent of a majority of
the holders of Warrants. 
 (e) NASDAQ Limitation. Notwithstanding any other provision in Section 4(d) to the
contrary, if a reduction in the Exercise Price pursuant to Section 4(d) would require the Company to obtain stockholder approval of the transactions contemplated by the Securities Purchase Agreement pursuant to any applicable Nasdaq rules,
including Nasdaq Marketplace Rule 4350(i), and such stockholder approval has not been obtained, the Exercise Price shall be reduced to the maximum Exercise Price that would not require 

  

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stockholder approval under such applicable Nasdaq rules. In no event shall the Exercise Price be reduced below the greater of book value or market value on
the Closing Date of the Securities Purchase Agreement. 
 (f) Notice of Adjustment. Whenever the Exercise Price or the
number of shares of Common Stock and other property, if any, issuable upon exercise of the Warrant is adjusted, as herein provided, the Company shall deliver to the holders of the Warrant in accordance with Section 9 a certificate of the
Company’s Chief Financial Officer setting forth, in reasonable detail, the event requiring the adjustment and the method by which such adjustment was calculated (including a description of the basis on which (i) the Board of Directors
determined the fair value of any evidences of indebtedness, other securities or property or warrants, options or other subscription or purchase rights and (ii) the Current Market Value of the Common Stock was determined, if either of such
determinations were required), and specifying the Exercise Price and number of shares of Common Stock issuable upon exercise of Warrant after giving effect to such adjustment. 
 (g) Notice of Certain Transactions. In the event that the Company shall propose (a) to pay any dividend payable in securities
of any class to the holders of its Common Stock or to make any other non-cash dividend or distribution to the holders of its Common Stock, (b) to offer the holders of its Common Stock rights to subscribe for or to purchase any securities
convertible into shares of Common Stock or shares of stock of any class or any other securities, rights or options, (c) to effect any capital reorganization, reclassification, consolidation or merger affecting the class of Common Stock, as a
whole, or (d) to effect the voluntary or involuntary dissolution, liquidation or winding-up of the Company, the Company shall, within the time limits specified below, send to each Holder a notice of such proposed action or offer. Such notice
shall be mailed to the Holders at their addresses as they appear in the Warrant Register (as defined in Section 2(d)), which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such
issuance or event is to take place and the date of participation therein by the holders of Common Stock, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Stock and on the number and kind of any
other shares of stock and on other property, if any, and the number of shares of Common Stock and other property, if any, issuable upon exercise of each Warrant and the Exercise Price after giving effect to any adjustment pursuant to
Section 4 which will be required as a result of such action. Such notice shall be given as promptly as possible and (x) in the case of any action covered by clause (a) or (b) above, at least ten (10) days prior to the
record date for determining holders of the Common Stock for purposes of such action or (y) in the case of any other such action, at least twenty (20) days prior to the date of the taking of such proposed action or the date of participation
therein by the holders of Common Stock, whichever shall be the earlier. 
 (h) Current Market Value. “Current
Market Value” per share of Common Stock or any other security at any date means (i) if the security is not registered under the Securities Exchange Act of 1934 and/or traded on a national securities exchange, quotation system or
bulletin board, as amended (the “Exchange Act”), (a) the value of the security, determined in good faith by the Board of Directors of the Company and certified 

  

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in a board resolution, based on the most recently completed arm’s-length transaction between the Company and a Person other than an affiliate of the
Company or between any two such Persons and the closing of which occurs on such date or shall have occurred within the six-month period preceding such date, or (b) if no such transaction shall have occurred within the six-month period, the
value of the security as determined by an independent financial expert or an agreed upon financial valuation model or (ii) if the security is registered under the Exchange Act and/or traded on a national securities exchange, quotation system or
bulletin board, the average of the daily closing bid prices (or the equivalent in an over-the-counter market) for each day on which the Common Stock is traded for any period on the principal securities exchange or other securities market on which
the Common Stock is being traded (each, a “Trading Day”) during the period commencing thirty (30) days before such date and ending on the date one day prior to such date. 
 5. Fractional Shares. In lieu of issuance of a fractional share upon any exercise hereunder, the Company will issue an additional whole share in
lieu of that fractional share, calculated on the basis of the Exercise Price. 
 6. Legends. Prior to issuance of the shares of Common
Stock underlying this Warrant, all such certificates representing such shares shall bear a restrictive legend to the effect that the Shares represented by such certificate have not been registered under the 1933 Act, and that the Shares may not be
sold or transferred in the absence of such registration or an exemption therefrom, such legend to be substantially in the form of the bold-face language appearing at the top of Page 1 of this Warrant. 
 7. Disposition of Warrants or Shares. The Holder of this Warrant, each transferee hereof and any holder and transferee of any Shares, by his or
its acceptance thereof, agrees that no public distribution of Warrants or Shares will be made in violation of the provisions of the 1933 Act. Furthermore, it shall be a condition to the transfer of this Warrant that any transferee thereof deliver to
the Company his or its written agreement to accept and be bound by all of the terms and conditions contained in this Warrant. 
 8. Merger
or Consolidation. The Company will not merge or consolidate with or into any other corporation, or sell or otherwise transfer its property, assets and business substantially as an entirety to another corporation, unless the corporation resulting
from such merger or consolidation (if not the Company), or such transferee corporation, as the case may be, shall expressly assume, by supplemental agreement reasonably satisfactory in form and substance to the Holder, the due and punctual
performance and observance of each and every covenant and condition of this Warrant to be performed and observed by the Company. 
 9.
Notices. Any notice herein required or permitted to be given shall be in writing and may be personally served or delivered by nationally-recognized overnight courier or by facsimile machine confirmed telecopy, and shall be deemed given and
effective on the earliest of (a) the date of transmission if such notice or communication is 

  

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delivered by fax prior to 5:30 p.m. (Eastern Time) on a Business Day, (b) the next Business Day after the date of transmission if such notice or
communication is delivered via fax on a day that is not a Business Day or later than 5:30 p.m. (Eastern Time) on a Business Day, (c) the 2nd
business day after the date of mailing if sent by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The addresses for such communications shall be:

  

			
	 If to the Company:
	  	Nexxus Lighting, Inc.
		  	124 Floyd Smith Drive
		  	Charlotte, North Carolina 28262
		  	Attention: John C. Oakley, Chief Financial Officer
		  	Facsimile: 704-405-0422
		
		  	with a copy to:
		
		  	Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
		  	215 North Eola Drive
		  	Orlando, FL 32801
		  	Attention: Suzan Abramson, Esq.
		  	Facsimile: 407-843-4444
		
	 if to the Holder:
	  	to the Holder’s address as specified in the records of the Company

 Notwithstanding the time of effectiveness of notices set forth in this Section, an Election to Purchase shall not
be deemed effectively given until it has been duly completed and submitted to the Company together with this original Warrant and payment of the Exercise Price in a manner set forth in this Section. 
 10. Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts
made and to be performed in the State of Delaware. 
 11. Successors and Assigns. This Warrant shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and assigns. 
 12. Headings. The headings of various sections of
this Warrant have been inserted for reference only and shall not affect the meaning or construction of any of the provisions hereof. 
 13.
Severability. If any provision of this Warrant is held to be unenforceable under applicable law, such provision shall be excluded from this Warrant, and the balance hereof shall be interpreted as if such provision were so excluded.

  

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 14. Modification and Waiver. This Warrant and any provision hereof may be amended, waived,
discharged or terminated only by an instrument in writing signed by the Company and the Holder. 
 15. Specific Enforcement. The
Company and the Holder acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Warrant were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed
that the parties shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Warrant and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which either
of them may be entitled by law or equity. 
 16. Assignment. Subject to prior written approval by the Company, this Warrant may be
transferred or assigned, in whole or in part, at any time and from time to time by the then Holder by submitting this Warrant to the Company together with a duly executed Assignment in substantially the form and substance of the Form of Assignment
which accompanies this Warrant, as Exhibit B hereto, and, upon the Company’s receipt hereof, and in any event, within five (5) Business Days thereafter, the Company shall issue a warrant to the Holder to evidence that portion
of this Warrant, if any as shall not have been so transferred or assigned. 
 [the following section is optional, based on the choice of each Purchaser]

 17. Limitation on Exercise. Notwithstanding anything to the contrary contained herein, the number of shares of Common Stock that
may be acquired by the Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such exercise (or other issuance), the total number of shares of Common Stock
then beneficially owned by such Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed
[9.999%][4.999%] [original Purchaser shall choose one] of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For such purposes, beneficial ownership
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. Each delivery of an Exercise Notice hereunder will constitute a representation by the Holder that it has
evaluated the limitation set forth in this paragraph and determined that issuance of the full number of Warrant Shares requested in such Exercise Notice is permitted under this paragraph. This provision shall not restrict the number of shares of
Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities or other consideration that such Holder may receive in the event of a merger or other business combination or reclassification
involving the Company. This restriction may not be waived without the consent of the Holder. 
 (signature page immediately follows)

  

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 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed, manually or by facsimile, by
one of its officers thereunto duly authorized. 
  

									
		 		 	NEXXUS LIGHTING, INC.
				
	Date: June___, 2008	 		 	By:	 	 
		 		 		 	Name:	 	John C. Oakley
		 		 		 	Title:	 	President and Chief Financial Officer

  

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 EXHIBIT A 
 TO 
 WARRANT CERTIFICATE 
 ELECTION TO PURCHASE 
 To Be Executed by the Holder 
 in Order to Exercise the Warrant 
 The undersigned Holder
hereby elects to purchase              Shares pursuant to the attached Warrant, and requests that certificates for securities be issued in the name of: 
 ________________________________________ 
 (Please type or print name and address) 
 ________________________________________ 
 ________________________________________ 
 ________________________________________ 
 (Social Security or Tax Identification Number) 
 and delivered 
 to:
_____________________________________________________________________ 
 ________________________________________________________________________. 

(Please type or print name and address if different from above) 
 If such number of Shares being purchased hereby shall not be all the Shares that may be purchased pursuant to the attached Warrant, a new Warrant for the balance of such Shares shall be registered in the name of, and
delivered to, the Holder at the address set forth below. 
 In full payment of the purchase price with respect to the Shares purchased and
transfer taxes, if any, the undersigned hereby tenders payment of $                 by check, money order or wire transfer payable in United States currency to
the order of NEXXUS LIGHTING, INC. 
  

									
		 		 	HOLDER:
				
		 		 	By:	 	 
		 		 		 		 	Name:
		 		 		 		 	Title:
		 		 		 		 	Address:
	Dated:	 	 	 		 		 	

  

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 EXHIBIT B 
 TO 
 WARRANT 
 FORM OF ASSIGNMENT 
 (To be signed only on transfer of Warrant) 
 For value received, the undersigned hereby sells, assigns, and transfers unto
                     the right represented by the within Warrant to purchase
             shares of Common Stock of Nexxus Lighting, Inc., a Delaware corporation, to which the within Warrant relates, and appoints
                         Attorney to transfer such right on the books of Nexxus Lighting, Inc., a Delaware corporation,
with full power of substitution of premises. 
  

									
				
	Dated:	 		 	By:	 	 
		 		 		 		 	Name:
		 		 		 		 	Title:
		 		 		 		 	(signature must conform to name of holder as specified on the fact of the Warrant)
		 		 		 	Address:

 Signed in the presence of : 
 Dated: 
  

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 EXHIBIT C 
 TO 
 WARRANT 
 NOTICE OF EXERCISE OF COMMON STOCK WARRANT 
 PURSUANT TO NET ISSUE (“CASHLESS”)
EXERCISE PROVISIONS 
 Nexxus Lighting, Inc. 
 124 Floyd
Smith Drive, Suite 300 
 Charlotte, North Carolina 28262 
  

					
		 		 	 Number of Shares of
 Common Stock to be
 Issued Under this
 Notice:

 CASHLESS EXERCISE 
 Gentlemen: 
 The undersigned, registered holder of the Warrant to Purchase Common Stock delivered herewith
(“Warrant”) hereby irrevocably exercises such Warrant for, and purchases thereunder, shares of the Common Stock of NEXXUS LIGHTING, INC., a Delaware corporation, as provided below. Capitalized terms used herein, unless otherwise
defined herein, shall have the meanings given in the Warrant. The portion of the Aggregate Price (as hereinafter defined) to be applied toward the purchase of Common Stock pursuant to this Notice of Exercise is
$            , thereby leaving a remainder Aggregate Price (if any) equal to $            . Such
exercise shall be pursuant to the net issue exercise provisions of Section 1(b) of the Warrant. Therefore, the holder makes no payment with this Notice of Exercise. The number of shares to be issued pursuant to this exercise shall be determined
by reference to the formula in Section 1(b) of the Warrant which requires the use of the fair market value (as defined in Section 1(c) of the Warrant) of the Company’s Common Stock on the business day immediately preceding the day on
which this Notice is received by the Company. To the extent the foregoing exercise is for less than the full Aggregate Price of the Warrant, the remainder of the Warrant representing a number of Shares equal to the quotient obtained by dividing the
remainder of the Aggregate Price by the Warrant Price (and otherwise of like form, tenor and effect) may be exercised under Section 1(b) of the Warrant. For purposes of this Notice the term “Aggregate Price” means the product obtained
by multiplying (i) the number of shares of Common Stock for which the Warrant is exercisable times the Warrant Price. 
  

			
		
	Signature:	 	 
		
	Address:	 	 
		
	Date:	 	 

  

 -14-Security Agreement between the Company and Jay Weil

 Exhibit 10.4 
 SECURITY AGREEMENT 
 THIS AGREEMENT is made as of June 26, 2008 between NEXXUS
LIGHTING, INC., as debtor, a Delaware corporation (“Debtor”), and Jay Weil, as collateral agent (“Collateral Agent”) for the secured parties (“Secured Parties”) pursuant to that certain
Collateral Agent Agreement (the “Collateral Agent Agreement”) dated as of the date hereof among Debtor, Collateral Agent and Secured Parties. 
 FOR VALUE RECEIVED, Debtor hereby represents, warrants, covenants and agrees as follows: 
 1. Security
Interest. (a) To secure its obligations under the Notes (as defined in the Note and Warrant Purchase Agreement, dated as of June 26, 2008 between the Debtor and the Secured Parties (the “Purchase Agreement”)),
Debtor hereby grants to Secured Parties, pari passu, a present and continuing first priority security interest (the “Security Interest in all of Debtor’s right, title and interest in, to and under all its property (the
“Collateral”), whether now owned or existing or hereafter acquired or arising and wheresoever located, including, without limitation: 
 (i) all of Debtor’s software, including all source code, object code and documentation, and lexicon databases together, including all trade secrets, copyrights and other property rights therein; 
 (ii) all of Debtor’s patents and patent applications, and all continuations, divisions, re-issues and renewals thereof, in whole or
in part, together with any patents that may be issued with respect thereto; 
 (iii) all of Debtor’s trademarks, service
marks and applications for trademarks and service marks, including, but not limited to, the trademarks and applications to register trademarks listed on Exhibit A attached hereto and made a part hereof, all common law rights in the trade
marks, service marks and trade names subject to such registrations, all statutory rights that may attach to any registrations thereof and any related renewals, and all related good will; 
 (iv) all of Debtor’s copyrights and copyright applications; 
 (v) the right to sue for past, present and future infringement or misappropriation of trade secrets, copyrights, patents, trademarks and
service marks, and all rights corresponding thereto throughout the world; 
 (vi) all products and proceeds of the foregoing,
including the right to receive license fees, royalties and other payments in respect thereof, the proceeds of any infringement suits, and so forth; 
 (vii) all equipment (including all machinery, tools and furniture), all inventory (including all merchandise, raw materials, work in process, finished goods and supplies), motor vehicles and goods (the
“Tangible Collateral”); 

 (viii) all accounts, accounts receivable, rights to the payment of money, payment
intangibles, other receivables, contract rights, contracts, leases, chattel paper, electronic chattel paper, commercial tort claims, insurance refund claims and other insurance claims and proceeds, and general intangibles of Debtor, including,
without limitation, all tax refund claims, goodwill, going concern value, blueprints, designs, computer programs, software, service marks, inventions, trade names, customer lists, product lines and research and development, all of Debtor’s
rights under all present and further authorizations, permits, licenses and franchises heretofore or hereafter granted to Debtor for the operation of Debtor’s business (including, to the maximum extent permitted by law, all rights incident to
appurtenant to such licenses and permits, including, without limitation, the right to receive all proceeds derived from or in connection with the sale, assignment or transfer of such licenses and permits; 
 (ix) all instruments, documents of title, letters of credit, rights to proceeds of letters of credit, letter of credit rights, supporting
obligations of every kind and description, policies and certificates of insurance, securities, securities entitlements, investment property, partnership interests, membership interests in limited liability companies (including, without limitation,
all of Debtors’ right, title and interest in and to all limited liability companies, including, without limitation, Advanced Lighting Systems, LLC, and partnership interests in partnerships and to any successor business entities, and the right
to receive all payments and distributions due or to become due under all related partnership agreements, operation agreements, and other constituent documents governing or establishing such business entities), bank deposits, deposit accounts,
checking accounts, certificates of deposit and cash; 
 (x) all accessions, additions or improvements to, and all proceeds and
products of, all of the foregoing, including proceeds of insurance; and 
 (xi) all books, records, documents, computer tapes
and discs relating to all of the foregoing. 
 (b) All Collateral consisting of accounts, contract rights, chattel paper,
general intangibles and other Collateral described in subparagraph (viii) above arising from the sale, delivery or provision of goods and/or services are sometimes hereinafter collectively called the “Customer Receivables.”

 (c) Debtor hereby acknowledges and agrees that the description of Collateral contained in this Security Agreement covers,
and is intended to cover, all assets of Debtor. For avoidance of doubt, it is expressly understood and agreed that, to the extent that the Uniform Commercial Code (“UCC”) is revised subsequent to the date hereof such that the
definition of any of the foregoing terms included in the description of Collateral is changed, the parties agree that any property which is included in such changed definitions which would not otherwise be included in the foregoing grant on the date
hereof be included in such grant immediately upon the effective date of such revision, it being the intention of the parties hereto that the description of Collateral set forth herein be construed to include the broadest possible range of property
and assets and all tangible and intangible personal property and fixtures of Debtor of every kind and description. 
  

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 2. Collateral Agent. The rights of Secured Parties in the Collateral will be exercisable by
Collateral Agent as agent for Secured Parties pursuant to the Purchase Agreement. In such capacity, from time to time and at any time, Collateral Agent may in its sole discretion take any and all actions, exercise any and all rights and remedies,
give any and all waivers and forbearances, and make any and all determinations and elections that Secured Parties are entitled to exercise under this Agreement and the Notes. Debtor will be entitled to rely solely on the actions of Collateral Agent
as binding all Secured Parties. 
 3. Other Matters. 
 (a) Perfection. From time to time and at any time, Debtor will execute such financing statements, assignments, notices of
assignments, registrations of the collateral assignment of its patents, trademarks and copyrights, and such other filings, notices and any other documents and do such other acts as Collateral Agent may reasonably request for the purpose of
perfecting, confirming, continuing, enforcing and/or protecting the security interest of Secured Parties in the Collateral. Debtor will furnish to Collateral Agent promptly upon request such information as may be necessary to complete such financing
statements, filings and other documents. From time to time and at any time, Collateral Agent may file any and all such documents with the appropriate registries as necessary to perfect, confirm, continue, enforce or protect the security interest of
Secured Parties in the Collateral. Debtor hereby appoints Collateral Agent as its attorney in fact with the power and authority to execute and deliver in Debtor’s name any of the foregoing financing statements, assignments, notices of
assignments and other documents that Debtor refuses or is unable to so execute and deliver. This power of attorney is coupled with an interest and is irrevocable. 
 (b) Obligations of Collateral Agent. In addition to those duties and powers of Collateral Agent pursuant to the Purchase Agreement,
upon payment in full of all outstanding amounts due under the Notes, Collateral Agent will promptly terminate all financing statements, filings and other documents referenced in Section 3(a) hereof, and execute and deliver to Debtor such
termination statements, releases, re-assignments and other instruments as necessary to re-vest in Debtor full title to the Collateral and to remove all liens and security interests of Secured Parties therein. Collateral Agent hereby appoints Debtor
as its attorney in fact with the power and authority to execute and deliver in the name of Collateral Agent and/or Secured Parties any of the foregoing termination statements, releases, re-assignments and other instruments that Collateral Agent
and/or Secured Parties refuse or are unable to so execute and deliver. This power of attorney is coupled with an interest and is irrevocable. 
 (c) Rights and Remedies of Secured Parties. The rights and remedies of Secured Parties with respect to the security interest granted hereby are in addition to those set forth in the Notes, and those which are
now or hereafter available to Secured Parties as a matter of law or equity. Each right, power and remedy of Secured Parties provided for herein or in the Notes, or now or hereafter existing at law or in equity, will be cumulative and concurrent and
will be in addition to every right, power or remedy provided for herein and the exercise by Secured Parties of any one or more of the rights, powers or remedies provided for in this Agreement or the Notes, or now or hereafter existing at law or in
equity, will not preclude the simultaneous or later exercise by any person, including Secured Parties, of any or all other rights, powers or remedies. 
  

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 4. Use of Collateral. Unless an Event of Default has occurred and is continuing under any
Note: 
 (a) Debtor may deal in the Collateral in the ordinary course of business, including the payment of expenses incurred
in the ordinary course of the Debtor’s business and the repayment of any loans listed on Schedule 4.1, but in no event may Debtor transfer or assign (i) all or substantially all of its rights in the Collateral to any other person
(including a subsidiary or affiliate of Debtor) or (ii) any rights in all or any portion of the Collateral to any subsidiary oraffiliate of Debtor, in each case without the prior written consent of Collateral Agent. Debtor may grant licenses to
third parties for the use of, and/or sublicense of, all or any part of the Collateral, on a non-exclusive basis or exclusive basis, but in no event shall any such exclusive license have a term of more than one year unless Debtor first obtains the
prior written consent of Collateral Agent. Licenses may be granted for up-front or recurring license fees, or for other consideration, for such periods of time as Debtor deems appropriate (including license terms that extend beyond the maturity of
any Note), and on such other terms and conditions as Debtor deems appropriate, and all such licenses, sublicenses and other grants of rights will survive any repossession of or foreclosure on the Collateral by Collateral Agent; 
 (b) the proceeds of Debtor’s licensing and other dealings in the Collateral may be used by Debtor for any proper corporate purposes;
and 
 (c) Debtor may grant one or more third parties a security interest in some or all of the Collateral in connection with
a purchase money security interest retained by a seller of goods or services. Provided that it has first obtained the written consent of Collateral Agent, Debtor may grant one or more third parties other types of security interests in some or all of
the Collateral to third parties, however, all such interests must be junior and subordinated to the security interest of Secured Parties and such junior secured parties may not take any action with respect to the Collateral without the prior written
consent of Collateral Agent. 
 5. Events of Default. (a) Debtor will be in default under this Agreement upon the
occurrence of any one of the following events (each, an “Event of Default”): 
 (i) default by Debtor in the
due observance or performance of any material covenant or agreement contained herein or material breach by Debtor of any material representation or warranty herein contained and Debtor fails to cure such default within thirty (30) days
following written demand by Collateral Agent; or 
 (ii) any event of default under the Notes occurs; or 
 (iii) default by Debtor in the payment when due of the principal of, or interest on, any other indebtedness of Debtor to any Secured Party
and Debtor fails to cure such default within thirty (30) days following written demand by Collateral Agent. 
 (b) If
Debtor defaults under this Agreement or any Note and the commercial value of the Collateral exceeds the outstanding amounts due to Secured Parties, then Collateral 

  

 4 

 
Agent will act in good faith in a commercially reasonable manner in disposing of or otherwise dealing in the Collateral in order not to prejudice the
interests of Debtor’s other secured creditors, unsecured creditors and shareholders. 
 6. Remedies Upon Event of Default.
If any Event of Default will have occurred and be continuing, Collateral Agent may exercise all the rights and remedies of a Secured Party under the Purchase Agreement and the UCC (whether or not the UCC is in effect in the jurisdiction where such
rights and remedies are exercised) and, in addition, Collateral Agent may, without being required to give any notice, except as herein provided or as may be required by mandatory provisions of law, (i) apply the cash, if any, then held by it as
Collateral in the manner specified in Section 8, and (ii) if there will be no such cash or if such cash will be insufficient to pay all the obligations in full, sell the Collateral, or any part thereof, at public or private sale or at any
broker’s board or on any securities exchange, for cash, upon credit or for future delivery, and at such price or prices as Collateral Agent may deem satisfactory. Collateral Agent may require Debtor to assemble all or any part of the Collateral
and make it available to Collateral Agent at a place to be designated by Collateral Agent which is reasonably convenient. Collateral Agent and any Secured Party may be the purchaser of any or all of the Collateral so sold at any public sale (or, if
the Collateral is of a type customarily sold in a recognized market or is of a type which is the subject of widely distributed standard price quotations, at any private sale) and thereafter hold the same, absolutely, free from any right or claim of
whatsoever kind. Upon any such sale Collateral Agent will have the right to deliver, assign and transfer to the purchaser thereof the Collateral so sold. Each purchaser at any such sale will hold the Collateral so sold absolutely, free from any
claim or right of whatsoever kind, including any equity or right of redemption of Debtor. Debtor, to the extent permitted by law, hereby specifically waives all rights of redemption, stay or appraisal which it has or may have under any rule of law
or statute now existing or hereafter adopted. At any such sale the Collateral may be sold in one lot as an entirety or in separate parcels, as Collateral Agent may determine. Collateral Agent will not be obligated to make such sale pursuant to any
such notice. Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for the sale, and such sale may be made at any time
or place to which the same may be adjourned. In case of any sale of all or any part of the Collateral on credit or for future delivery, the Collateral so sold may be retained by Collateral Agent until the selling price is paid by the purchaser
thereof, but Collateral Agent will not incur any liability in case of the failure of such purchaser to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may again be sold upon like notice. Collateral Agent,
instead of exercising the power of sale herein conferred upon it, may proceed by a suit or suits at law or in equity to foreclose the security interests and sell the Collateral, or any portion thereof, under a judgment or decree of a court or courts
of competent jurisdiction. 
 7. Right of Collateral Agent to Use and Operate Tangible Collateral, Etc. Upon the occurrence of
an Event of Default, to the extent permitted by law, Collateral Agent will have the right and power to take possession of all or any part of the Tangible Collateral, and to exclude Debtor and all persons claiming under Debtor wholly or partly
therefrom, and thereafter to hold, store, and/or use, operate, manage and control the same. Upon any such taking of possession, Collateral Agent may, from time to time, at the expense of Debtor, make all such repairs, replacements, alterations,
additions and improvements to and of the Tangible Collateral 

  

 5 

 
as Collateral Agent may deem proper. In such case, Collateral Agent will have the right to manage and control the Tangible Collateral and to carry on the
business and to exercise all rights and powers of Debtor in respect thereto as Collateral Agent will deem best, including the right to enter into any and all such agreements with respect to the leasing and/or operation of the Tangible Collateral and
any part thereof as Collateral Agent may see fit; and the Secured Party will be entitled to collect and receive all rents, issues, profits, fees, revenues and other income of the same and every part thereof. Such rents, issues, profits, fees,
revenues and other income will be applied to pay the expenses of holding and operating the Tangible Collateral and of conducting the business thereof, and of all maintenance, repairs, replacements, alterations, additions and improvements, and to
make all payments which Collateral Agent may be required or may elect to make, if any, for taxes, assessments, insurance and other charges upon the Tangible Collateral or any part thereof, and all other payments which Collateral Agent may be
required or authorized to make under any provision of this Security Agreement (including legal costs and attorney’s fees). The remainder of such rents, issues, profits, fees, revenues and other income will be applied to the payment of the
obligations in such order or priority as Collateral Agent will determine (subject to the provisions of Section 8 hereof) and, unless otherwise provided by law or by a court of competent jurisdiction, any surplus will be paid over to Debtor.

 8. Application of Collateral and Proceeds. If an Event of Default will have occurred and be continuing, the proceeds
of any sale of, or other realization upon, all or any part of the Collateral will be applied in the following order of priorities: 
 (i) first, to pay the expenses of such sale or other realization, including those reasonable expenses, liabilities and advances actually incurred or made by Collateral Agent and its agent and counsel in connection therewith, and any other
unreimbursed expenses of which Collateral Agent is to be reimbursed pursuant to Section 9 as determined in its sole discretion; 
 (ii) second, to the payment of the obligations in such other manner as Collateral Agent, in its sole discretion, will determine; and 
 (iii) finally, to pay to Debtor, or its successors or assigns, or to a court of competent jurisdiction, or as directed by a court of competent jurisdiction, any surplus then remaining from such proceeds. 

9. Expenses; Secured Parties’ Lien. Debtor will promptly upon demand pay to Collateral Agent: 
 (a) the amount of any taxes which the Secured Parties may have been required to pay by reason of the security interests herein (including
any applicable transfer taxes) or to free any of the Collateral from any lien thereon; and 
 (b) the amount of any and all
reasonable out-of-pocket expenses, including the reasonable fees and disbursements of Collateral Agent’s counsel and of any agents not regularly in its employ, which Collateral Agent may actually incur in connection with (x) the
preparation and administration of this Agreement, (y) the collection, sale or total disposition of any of the Collateral, (z) the exercise by Collateral Agent of any of the powers conferred upon it hereunder, or (aa) any default on
Debtor’s part hereunder. 
  

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 10. Covenants of Debtor. Debtor hereby covenants and agrees that Debtor will: 

(a) defend the Collateral against all claims and demands of all persons at any time claiming any interest therein; 
 (b) provide Collateral Agent with immediate written notice of (i) any change in the chief executive officer of Debtor or the office
where Debtor maintains its books and records pertaining to the Customer Receivables, or (ii) the movement or location of Collateral (outside the ordinary course of business) to or at any address other than as set forth on Schedule 10(b)
attached hereto.; 
 (c) promptly pay any and all taxes, assessments and governmental charges upon the Collateral prior to the
date penalties are attached thereto, except to the extent that such taxes, assessments and charges shall be contested in good faith by Debtor; 
 (d) immediately notify Collateral Agent of any event causing a substantial loss or diminution in the value of all or any material part of the Collateral and the amount or an estimate of the amount of such loss or
diminution; and 
 (e) keep its records concerning the Collateral, including the Customer Receivables and all chattel paper
included in the Customer Receivables, at its principal office, one or more of the locations set forth on Schedule 10(e) attached hereto or at such other place or places of business as the Secured Party may approve in writing, or if in electronic
form will ensure that it is available at its principal office. Debtor will hold and preserve such records and chattel paper and, provided reasonable notice has been given to Debtor, will permit representatives of the Secured Party at any time during
normal business hours to examine and inspect the Collateral and to make abstracts from such records and chattel paper and will furnish to the Secured Party such information and reports regarding the Collateral as the Secured Party may from time to
time reasonably request. 
 11. Collections with Respect to Customer Receivables. Debtor will, at its expense, and subject at
all times to Collateral Agent’s right to give directions and instructions: 
 (a) endeavor to collect or cause to be
collected from customers indebted on Customer Receivables, as and when due, any and all amounts, including interest, owing under or on account of each Customer Receivables; and 
 (b) take or cause to be taken such appropriate action to repossess goods, the sale or rental of which gave rise to any Customer
Receivables, or to enforce any rights or liens under Customer Receivables, as Debtor or Collateral Agent may deem proper, and in the name of Debtor, or Collateral Agent , as Collateral Agent may deem proper; 

  

 7 

 
provided that (x) Debtor will use its best judgment to protect the interests of the Secured Parties and (y) Debtor shall not be required under this
Section 11 to take any action which would be contrary to any applicable law or court order. Debtor shall, at the request of Collateral Agent following the occurrence of any Event of Default (as defined in Section 5 above), notify the
account debtors of the security interests of the Secured Parties in any of the Customer Receivables and Collateral Agent may also notify such account debtors of such security interests. Collateral Agent will have full power at any time after such
notice to collect, compromise, endorse, sell or otherwise deal with any or all outstanding Customer Receivables or the proceeds thereof in the name of either Collateral Agent or Debtor. In the event that, after notice to any account debtors to pay
Collateral Agent on behalf of the Secured Parties, Debtor receives any payment on a Customer Receivable, any such payments shall be held by Debtor in trust for Collateral Agent and immediately turned over to Collateral Agent as aforesaid.

 12. Interpretation. This Agreement will be interpreted in accordance with, and subject to the provisions of, the Purchase
Agreement applicable to all Transaction Documents (as such term is defined therein). Without limiting the foregoing, this Agreement is governed by Delaware law. 
 13. Termination of this Agreement. This Agreement and the Security Interest shall terminate immediately on the satisfaction of all of the Company’s obligations under the Note and Purchase Agreement
and the Collateral Agent shall immediately thereafter return to the Company any Collateral directly or indirectly in its possession or control. 
 [signatures on following page] 
  

 8 

 Exhibit 10.4 
 [signature page for Security Agreement] 
 SIGNED AND DELIVERED as of the date first above written. 
  

			
	NEXXUS LIGHTING, INC.
		
	By:	 	/s/ John C. Oakley
	Name:	 	John C. Oakley
	Title:	 	Chief Financial Officer
	
	COLLATERAL AGENT:
	
	/s/ Jay Weil
	Name: Jay Weil

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