Document:

Commitment Agreement, dated May 25, 2012

 EXHIBIT 10.4 
 COMMITMENT AGREEMENT 
 THIS COMMITMENT AGREEMENT to purchase preferred
stock (this “Agreement”) is entered into as of May 25, 2012, by and between LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (the “Company”), PEGASUS CAPITAL ADVISORS, L.P., a Delaware
limited partnership (“PCA”), PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (“PPIV”), PCA LSG Holdings, LLC, a Delaware limited liability company (“PCA Holdings”) and
LSGC Holdings II LLC, a Delaware limited liability company (“Holdings II” and together with PCA, PPIV and PCA Holdings, the “Investors”). 

WHEREAS, the Company desires to sell to the Investors and the Investors desire to commit to purchase (the
“Commitment”) 21,131 shares of the Company’s Series I Preferred Stock, par value $0.001 per share (“Series I Preferred Stock”) or, in the case of assignment to a non-affiliated third party, shares
of Series I Preferred Stock or Series H Preferred Stock, par value $0.001 per share (the “Series H Preferred Stock,” and such 21,131 shares less (i) any shares of Series H Preferred Stock sold by the Company after the
date first written above and (ii) any shares of Series I Preferred Stock sold by the Company after the date first written above, and in each of the case of clauses (i) and (ii), solely after the time that the Company has received in the
aggregate $67,069,000.00 in total proceeds from the sale of Series H Preferred Stock and/or Series I Preferred Stock to RW LSG Holdings, LLC and other investors on the date first written above, are referred to herein as the “Commitment
Shares”); and 
 WHEREAS, the Investors have agreed to purchase all, but not less than all, of the
unpurchased Commitment Shares no later than the four-month anniversary of the date hereof (the “Maturity Date”). 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 
 1. Purchase and Sale of Commitment Shares. 
 a. At any time
and from time to time (each a “Transaction Date”) on or prior to the Maturity Date, each Investor or its Assignees (as defined below) (each, an “Exercising Purchaser”) may give notice (a
“Transaction Notice”), a form of which is attached hereto as Exhibit A, of its election to purchase all or less than all of the unpurchased Commitment Shares (in the form of Series I Preferred Stock if by an Investor
or its affiliates, or in the form of Series H Preferred Stock or Series I Preferred Stock if by a third party assignee) by (x) executing a subscription agreement reasonably acceptable to the Company and the Exercising Purchaser (a
“Preferred Subscription Agreement”) and having substantially the same representations and warranties and indemnities as those set forth in that certain Preferred Stock Subscription Agreement, dated as of the date first
written above, by and between the Company, RW LSG Holdings LLC and certain other parties signatories thereto, and substantially the same covenants as those set forth in Sections 4(b), 4(d) and 4(h) thereof (provided, that if such Exercising
Purchaser is an Investor or an affiliate of an Investor, such indemnities shall not cover or be in respect of breaches or inaccuracies of any representations, warranties, covenants or obligations of the Company to the extent directly caused by the
fraud, bad faith or willful 

 
misconduct of that Investor or any of its affiliates (other than the Company or its subsidiaries) in its individual capacity, rather than indirectly through the Company or its subsidiaries) and
(y) fulfilling all of its obligations to purchase thereunder; provided, that (i) a Transaction Notice for more than the number of unpurchased Commitment Shares shall be deemed to be for all (but not more than all) of the unpurchased
Commitment Shares and the aggregate purchase price therefor shall be adjusted accordingly and (ii) to the extent that the Company cannot make representations and warranties as of the effective date of a Preferred Subscription Agreement, the
Company shall make such representations and warranties as of the date of this Agreement; provided, further, however, that notwithstanding anything herein to the contrary, the failure of the Company, the Investors and/or such
Assignee to execute a subscription agreement with respect to the Commitment Shares unpurchased as of the Maturity Date shall not in any way relieve the obligation of the Investors to purchase or cause to be purchased such shares as forth in
Section 2 on the Maturity Date. The price per Commitment Share shall be equal to $1,000.00 per share (the aggregate price for all such Commitment Shares is referred to herein as the “Purchase Price”). 

b. On each Transaction Date, pursuant to the associated Transaction Notice, the Exercising Purchaser shall purchase from
the Company and the Company shall sell to the Exercising Purchaser the number of Commitment Shares set forth in the applicable Transaction Notice in accordance with the terms and conditions of this Agreement and the applicable Preferred Subscription
Agreement. 
 2. Maturity of the Commitment; Commitment to Purchase Commitment Shares. On the Maturity Date, the
Investors shall purchase or cause to be purchased all unpurchased Commitment Shares for the Purchase Price. 
 3. Assignment
of the Right to Purchase Commitment Shares. Subject to applicable law, at any time and from time to time, without the prior consent of the Company, the Investors may, from and after the time that that the Company has received in the aggregate
$67,069,000.00 in total proceeds from the sale of Series H Preferred Stock and/or Series I Preferred Stock to RW LSG Holdings, LLC and other investors, assign all or less than all of the right to purchase Commitment Shares hereunder to any other
person (an “Assignee”); provided, that such assignment shall not relieve the Investors of any of their respective obligations hereunder. 
 4. Company Representations and Warranties. The Company represents and warrants to Investor that as of the date hereof: 

a. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of
Delaware and has the requisite corporate power to own its properties and carry on its business as presently conducted. 
 b. The issuance, sale and delivery of the Commitment Shares in accordance with this Agreement has been duly authorized by all necessary corporate action on the part of the Company. 

  
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 c. This Agreement constitutes the legal, valid and binding obligation of the
Company, enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by the Company does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the
Company is a party or any judgment, order or decree to which the Company is subject. 
 d. After giving pro
forma effect to the transactions contemplated hereby, Schedule 4(d) attached hereto sets forth, as of the close of business on the business day immediately preceding the date hereof, a true, complete and correct listing of all the
Company’s outstanding: (i) shares of the Company’s common stock and (ii) securities convertible into or exchangeable for shares of the Company’s common stock (the “Derivative Securities”), including
the applicable exercise price of such Derivative Securities, other than any Derivative Securities issued pursuant to the Company’s Amended and Restated Equity-Based Compensation Plan or the Company’s 2011 Employee Stock Purchase Plan (the
“Management Equity”). Except as set forth in Schedule 4(d) and except for any Management Equity, the Company has no other outstanding equity securities. 

e. SEC Reports; Financial Statements 

i. As of its filing date, the Form 10-K filed by the Company with the Securities and Exchange Commission (the
“SEC”) on April 16, 2012, as amended by the Forms 10-K/A filed by the Company with the SEC on April 30, 2012, and May 3, 2012 (the “Company SEC Documents”), complied in all material
respects with the applicable requirements of the Securities Act of 1933, as amended (the “1933 Act”), the Securities Exchange Act of 1934, as amended (the “1934 Act”), and the Sarbanes-Oxley Act of
2002, as the case may be, including, in each case, the rules and regulations promulgated thereunder. 
 ii.
Except to the extent that information contained in the Company SEC Documents has been revised or superseded by a document the Company subsequently filed with the SEC, the Company SEC Documents do not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 

iii. The financial statements (including the related notes thereto) included in the Company SEC Documents comply as to
form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with United States generally accepted accounting principles
(“GAAP”) applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly present in all material respects the consolidated financial position of the Company and its
subsidiaries as of the dates thereof and their respective 

  
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consolidated results of operations and cash flows for the periods then ended, all in accordance with GAAP and the applicable rules and regulations promulgated by the SEC. Since April 16,
2012, the Company has not made any change in the accounting practices or policies applied in the preparation of its financial statements, except as required by GAAP, the rules of the SEC or policy or applicable law. 

iv. Since April 16, 2012, there has been no material and adverse change or development, or event involving such a
prospective change, in the condition, business, properties or results of operations of the Company and its subsidiaries. 
 f. The Company agrees and acknowledges that the Commitment Shares acquired by Investor or its affiliates are subject to that certain Amended and Restated Registration Rights Agreement, dated as of
January 23, 2009, as amended as of the date first written above, by and between the Company and Pegasus Partners IV, L.P., and that the Commitment Shares (including each of their components), and any securities exchanged therefor, shall
constitute Registrable Securities (as defined therein). 
 g. The offer and sale of the Commitment Shares by the
Company to Investor or its Assignees, as applicable, in the manner contemplated by this Agreement will be exempt from the registration requirements of the 1933 Act. 

h. The Company has complied in all material respects with the covenants set forth in (i) that certain Loan and
Security Agreement, dated as of November 22, 2010, by and among the Company, the guarantors and lenders from time to time party thereto, Wells Fargo Bank, National Association, as agent, (or its successor) and Wells Fargo Capital Finance, LLC,
as sole lead arranger, manager and bookrunner (or its successor) (the “Wells Facility”), including without limitation Section 4 thereof, and (ii) that certain Second Lien Letter of Credit, Loan and Security
Agreement, dated September 20, 2011, by and among the Company, as borrower, the guarantors and lenders party from time to time thereto and Ares Capital Corporation, as agent (the “LC Facility” and together with the Wells
Facility, the “Debt Facilities”). Immediately following the consummation of the transactions contemplated hereby, the Company will be in compliance in all material respects with the covenants set forth in the Debt Facilities.
Immediately following the repayment of any Consideration as required under Section 9.7(b)(iii)(D) of the Wells Facility, the Company will be able to redraw amounts equal to at least such Consideration. 

5. Investor Representations and Warranties. Each Investor severally and not jointly represents and warrants to the Company that as
of the date hereof: 
 a. Investor has the full power and authority to execute and deliver this Agreement and to
perform all of its obligations hereunder, and to purchase, acquire and accept delivery of the Commitment Shares. 

  
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 b. The Commitment Shares to be acquired by the Investor are for its own
account and are not being acquired with a view to, or intention of, distribution thereof in violation of the 1933 Act, or any applicable state securities laws. 
 c. Investor has, and will have on the Maturity Date, access to sufficient funds to consummate the transactions contemplated hereby, including to pay the Purchase Price and the fees and expenses of
Investor related to the transactions contemplated hereby. There are no circumstances or conditions that could reasonably be expected to prevent or substantially delay the availability of such funds at the Maturity Date. 

d. Investor will not make any sale, transfer or other disposition of the Commitment Shares in violation of the 1933 Act,
the 1934 Act, as amended, the rules and regulations promulgated thereunder or any applicable state securities laws. 
 e. Investor is sophisticated in financial matters and is able to evaluate the risks and benefits of an investment in the Commitment Shares. Investor understands and acknowledges that such investment is a
speculative venture, involves a high degree of risk and is subject to complete risk of loss. Investor has carefully considered and has, to the extent Investor deems necessary, discussed with Investor’s professional legal, tax, accounting and
financial advisers the suitability of its investment in the Commitment Shares. 
 f. Investor is able to bear the
economic risk of its investment in its Commitment Shares for an indefinite period of time because the Commitment Shares have not been registered under the 1933 Act and, therefore, cannot be sold unless subsequently registered under the 1933 Act or
an exemption from such registration is available. Investor: (i) understands and acknowledges that the Commitment Shares being issued to Investor have not been registered under the 1933 Act, nor under the securities laws of any state, nor under
the laws of any other country and (ii) recognizes that no public agency has passed upon the accuracy or adequacy of any information provided to Investor or the fairness of the terms of its investment in the Commitment Shares. 

g. Investor has had an opportunity to ask questions and receive answers concerning the terms and conditions of the
offering of the Commitment Shares and has had full access to such other information concerning the Company as has been requested. 
 h. This Agreement constitutes the legal, valid and binding obligation of Investor, enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by Investor does
not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which Investor is a party or any judgment, order or decree to which Investor is subject. 

i. Investor became aware of the offering of the Commitment Shares other than by means of general advertising or general
solicitation. 

  
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 j. Investor is an “accredited investor” as that term
is defined under the 1933 Act and Regulation D promulgated thereunder, as amended by Section 413 of the Private Fund Investment Advisers Registration Act of 2010 and any applicable rules or regulations or interpretations thereof
promulgated by the SEC or its staff. 
 k. Investor acknowledges that the certificates for the Commitment Shares
will contain a legend substantially as follows: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR
PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. 
 THE COMPANY MAY REQUEST A WRITTEN OPINION
OF COUNSEL (WHICH OPINION AND COUNSEL SHALL BE REASONABLY SATISFACTORY TO THE COMPANY) TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED IN CONNECTION WITH AN OFFER, SALE OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE.” 

Subject to any lock-up or other similar agreement that may apply to the Commitment Shares, the requirement that the Commitment Shares
contain the legend set forth in clause (j) above shall cease and terminate upon the earlier of (i) when such shares are transferred pursuant to Rule 144 under the 1933 Act or (ii) when such securities are transferred in any other
transaction if the transferor delivers to the Company a written opinion of counsel (which opinion and counsel shall be reasonably satisfactory to the Company) to the effect that such legend is no longer necessary in order to protect the Company
against a violation by it of the 1933 Act upon any sale or other disposition of such securities without registration thereunder. Upon the consummation of an event described in (i) or (ii) above, the Company, upon surrender of certificates
containing such legend, shall, at its own expense, deliver to the holder of any such securities as to which the requirement for such legend shall have terminated, one or more new certificates evidencing such securities not bearing such legend.

 6. Indemnification by the Company. The Company shall save, defend, indemnify and hold harmless each Investor and its
affiliates and each of their respective partners, managers equityholders, officers, directors, employees, agents, advisors and affiliates and the respective representatives, successors and assigns of each of the foregoing from and against any and
all losses, damages, liabilities, deficiencies, claims, diminution of value, interest, awards, judgments, penalties, costs and expenses (including attorneys’ fees, costs and other out-of-pocket expenses incurred in investigating, preparing or
defending the foregoing), asserted against, incurred, sustained or suffered by any of the foregoing as a result of, arising out of or relating to any breach of any representation, warranty or covenant made by the Company and contained in this
Agreement and the schedule hereto. 

  
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 7. General Provisions. 

a. Choice of Law. The laws of the State of Delaware without reference to the conflict of laws provisions thereof,
will govern all questions concerning the construction, validity and interpretation of this Agreement. 
 b.
Amendment and Waiver; Third Party Beneficiaries. The provisions of this Agreement may be amended and waived only with the prior written consent of RW LSG Holdings LLC, the Company and Investor. RW LSG Holdings LLC shall be a third party
beneficiary of this Agreement and shall have the right to enforce all of the rights and benefits set forth herein on behalf of the Company. 
 c. Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute a single agreement. 
 d. Delivery by Facsimile or
Email. This Agreement, to the extent signed and delivered by means of a facsimile machine or email with scan or facsimile attachment, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to
have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto shall raise the use of a facsimile machine or email to deliver a signature or the fact that any signature or agreement or
instrument was transmitted or communicated through the use of a facsimile machine or email as a defense to the formation or enforceability of a contract, and each such party forever waives any such defense. 

e. Headings. The headings contained in this Agreement are inserted for convenience only and will not affect in any
way the meaning or interpretation of this Agreement. 
 f. Assignment. This Agreement shall be binding
upon and inure to the benefit of each of the parties hereto and their respective successors and permitted assigns; provided, that the Company may not assign any of its rights or obligations under this Agreement without the prior written
consent of Investor. 
 g. Termination. Each party’s rights and obligations under this Agreement
shall terminate upon a Change of Control (as defined in the Series H Preferred Stock Certificate of Designation of the Company, as may be amended from time to time) of the Company. 

h. Remedies. The parties hereto agree that irreparable damage for which monetary damages, even if available, would
not be an adequate remedy, may occur in the event that the parties hereto do not perform the provisions of this Agreement (including failing to take such actions as are required of it hereunder to consummate this Agreement) in accordance with its
specified terms or otherwise breach such provisions. The parties hereto acknowledge and agree that, RW LSG Holdings LLC, the Company and each Investor shall be entitled to an injunction, specific performance and other

  
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equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which RW LSG Holdings, LLC, the
Company and each Investor is entitled at law or in equity. Each of the parties hereto agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant to the terms of
this Agreement on the basis that (i) there is adequate remedy at law or (ii) an award of specific performance is not an appropriate remedy for any reason at law or equity. Any party hereto seeking an injunction or injunctions to prevent
breaches of this Agreement when expressly available pursuant to the terms of this Agreement and to enforce specifically the terms and provisions of this Agreement when expressly available pursuant to the terms of this Agreement shall not be required
to provide any bond or other security in connection with any such order or injunction. 

*    *    *    *    * 

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

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

	Name:	 	Gregory T. Kaiser
	Title:	 	Chief Financial Officer

 Signature Page to Commitment Agreement 

 
			
	INVESTOR:
	
	PEGASUS CAPITAL ADVISORS, L.P.
		
	By:	 	Pegasus Capital Advisors GP, LLC, its general partner
		
	By:	 	 /s/ Steven Wacaster

	Name:	 	Steven Wacaster
	Title:	 	Vice President

 [Signature Page to Commitment Agreement] 

 
			
	PEGASUS PARTNERS IV, L.P.
		
	By:	 	Pegasus Investors IV, L.P., its general partner
		
	By:	 	Pegasus Investors IV GP, L.L.C., its general partner
		
	By:	 	 /s/ Jason Schaefer

	Name:	 	Jason Schaefer
	Title:	 	General Counsel and Secretary

 [Signature Page to Commitment Agreement] 

 
			
	LSGC HOLDINGS II LLC
		
	By:	 	Pegasus Partners IV, L.P., its managing member
		
	By:	 	Pegasus Investors IV, L.P., its general partner
		
	By:	 	Pegasus Investors IV GP, L.L.C., its general partner
		
	By:	 	 /s/ Jason Schaefer

	Name:	 	Jason Schaefer
	Title:	 	General Counsel and Secretary

 [Signature Page to Commitment Agreement] 

 
			
	PCA LSG HOLDINGS, LLC
		
	By:	 	 /s/ Jason Schaefer

	Name:	 	Jason Schaefer
	Title:	 	General Counsel and Secretary

 [Signature Page to Commitment Agreement] 

 Exhibit A 

[Exhibit A]Letter Agreement, dated May 25, 2012

 EXHIBIT 10.5 
 May 25, 2012 
 Pegasus Capital Advisors, L.P. 

c/o Pegasus Capital Advisors 
 99 River Road

 Cos Cob, CT 06807 
 Gentlemen:

 Reference is made to the Series H Preferred Stock Subscription Agreement, dated as of the date hereof (the
“Subscription Agreement”), between Lighting Science Group Corporation, a Delaware corporation (the “Company”) and RW LSG Holdings LLC, a Delaware limited partnership (“Purchaser”), pursuant to which
Purchaser shall acquire shares of Series H Convertible Preferred Stock, par value $0.001 per share, of the Company (“Series H Preferred”) issued pursuant to the certificate of designation with respect to the Series H Preferred, a
copy of which is attached as Exhibit A hereto (the “Series H Certificate”), which Series H Preferred will be convertible into shares of common stock, par value $0.001 per share, of the Company (the “Common
Stock”). Certain capitalized terms used herein are defined in Section 5 below; capitalized terms used but not defined herein will have the meanings therefor set forth in the Series H Certificate. To induce Purchaser to enter
into the Subscription Agreement, you have agreed to enter into this letter agreement providing for certain agreements with respect to certain potential future events or transactions involving Pegasus Capital Advisors, L.P. (“PCA”)
and/or its Affiliates (collectively with PCA, the “Pegasus Group”). Therefor, for good and valuable consideration, the receipt of which is hereby acknowledged, each of the parties to this letter agreement hereby agrees as follows:

 1. In the event of any Transfer of Company Securities by the Pegasus Group to an unaffiliated third party, Purchaser and
(x) prior to a Control Event (as defined in the Series H Certificate) any Affiliate to whom Purchaser has transferred Company Securities and (y) following a Control Event, any person or entity to whom Purchaser has transferred Company
Securities in a single transaction by which Purchaser Transfers greater than 25% of the Capital Stock acquired pursuant to the Subscription Agreement, calculated on an as-converted to Common Stock basis (Purchaser, collectively with the persons or
entities identified in clauses (x) and (y), the “Co-Sale Offerees”) shall have the right to participate in such Transfer by selling a pro rata share of Company Securities as calculated in accordance with this
Section 1. Each Co-Sale Offeree’s pro rata share shall be, (A) in the event that such Transfer is in respect of Capital Stock or other Company Securities convertible, exchangeable or exercisable for Capital Stock, equal
to the product of (i) the number of shares of Capital Stock (on an as converted basis) to be transferred and (ii) a fraction, the numerator of which is the total Capital Stock (on an as converted basis) owned by such Co-Sale Offeree and
the denominator of which is the total Capital Stock (on an as converted basis) owned by all Co-Sale Offerees and the Pegasus Group at such time and (B) in the event that such Transfer is in respect of Company Securities not convertible,
exchangeable or exercisable for Capital Stock, equal to the product of (i) the fair market value of such Company Securities to be transferred and (ii) a fraction, the numerator of which is the fair market value of such Company Securities
owned by such Co-Sale Offeree and the denominator of which is fair market value of such Company Securities owned by all Co-Sale Offerees and the Pegasus Group at such time. The term “fair market value” shall mean the fair market
value (1) as determined based on the purchase price of the Company Securities in the proposed Transfer, (2) if not so determinable, as mutually agreed by the parties hereto in writing

 
or (3) if they cannot agree after seven (7) days following the initiation of discussions between the parties with respect thereto, the fair market value as determined by an independent
appraiser selected by the parties hereto, the fees and expenses of which shall be paid in inverse proportion (based on the difference in the parties’ proposed valuation submitted to the independent appraiser) to such determination. Such
participation must be in accordance with the following procedures and is subject to the following limitations: 

a. A member of the Pegasus Group shall give Purchaser not less than ten (10) days prior written notice (the
“Co-Sale Notice”) of any proposed Transfer of Company Securities by any member of the Pegasus Group other than a transfer (i) to an Affiliate of any member of the Pegasus Group, (ii) a pro rata in-kind distribution
or dividend to the equityholders of Pegasus Partners IV, L.P. who were equityholders thereof on the date hereof (provided, that such distribution or dividend shall not result in a Transfer to any such equityholder of more than 15% of the
Company Securities held by the Pegasus Group as of the date hereof; provided, further, that such distribution or dividend shall not be structured so as to avoid the occurrence or triggering of a Change of Control (as defined in the
Series H Certificate)), (iii) pursuant to any transaction which gives rise to registration rights (whether “demand” or “piggy-back”) under that certain Registration Rights Agreement, by and among the Company and RW LSG
Holdings LLC and RW LSG Management Holdings LLC, dated as of the date hereof, (iv) pursuant to that certain Commitment Agreement, dated as of the date hereof, by and between the Company, PCA, Pegasus Partners IV, L.P., PCA LSG Holdings, LLC and
LSGC Holdings II LLC (provided, that such Transfer is made in accordance with the terms thereof, as in effect from time to time), and (v) pursuant to the exercise of an Optional Redemption Right (as defined in the certificate of
designation for the Series I Convertible Preferred Stock, par value $0.001 per share, of the Company) or (vi) by PCA LSG Holdings, LLC with respect to not more than 17,650 Series G Units (“Series G Units”), each comprised of
(A) one share of Series G Preferred Stock, par value $0.001 per share, of the Company (“Series G Preferred Stock”) and (B) and 83 shares of Common Stock or any shares of Series G Preferred Stock or Common Stock issued
pursuant to a purchase thereof, and any securities of the Company into which the Series G Units or the Series G Preferred Stock or Common Stock issued pursuant to a purchase thereof may be converted or exchanged. Such Co-Sale Notice shall set forth
(i) the quantity and type of Company Securities proposed to be Transferred by all members of the Pegasus Group, the purchase price proposed to be paid therefor and the payment terms, (ii) the Company’s calculation of the quantity of
Company Securities that the Co-Sale Offerees shall be entitled to Transfer to the Co-Sale Buyer and the purchase price therefor (to the extent the Pegasus Group is Transferring any Company Securities other than those convertible, exchangeable or
exercisable for Capital Stock), in each case calculated as provided in this Section 1, on an as-converted to Common Stock basis and (iii) the identity of the proposed transferee (the “Co-Sale Buyer”) and any other
material terms and conditions of such sale, including the proposed transfer date. The parties hereby agree (x) to use their commercially reasonable efforts to cause the Company to prepare the calculations set forth in clause (ii) of the
preceding sentence and (y) if the Company fails to deliver such calculations in a reasonable time frame, the parties shall jointly prepare such calculations. The failure of the Company to prepare such calculations will not toll the ten
(10) day notice period set forth above. The Co-Sale Offerees will have the right, exercisable by written notice to PCA within ten (10) days after receipt of the Co-Sale Notice, to elect to sell up to their respective pro rata share
of Company Securities to 

  
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the Co-Sale Buyer in such proposed Transfer, upon the same terms and conditions with respect to payment as the Pegasus Group (and to the extent different members of the Pegasus are selling on
different terms, the most favorable to the Co-Sale Offerees thereof). The failure of any Co-Sale Offeree to respond within such 10-day period shall be deemed to be a waiver of such Co-Sale Offeree’s rights to participate in such proposed
Transfer pursuant to this Section 1.a. If the number of shares Company Securities elected to be Transferred by the Co-Sale Offerees pursuant to this Section 1.a together with the Company Securities proposed to be Transferred
by the Pegasus Group is greater than the Company Securities the Co-Sale Buyer wishes to acquire, the amount of Company Securities to be sold by the Pegasus Group shall be proportionately reduced, based on Company Securities proposed to be
Transferred to the extent necessary to provide for such sales of Company Securities hereunder by the Co-Sale Offerees. 
 b. The closing of any proposed Transfer in respect of which a Co-Sale Notice has been delivered shall occur simultaneously with respect to the Pegasus Group and the Co-Sale Offerees. At such closing, the
Co-Sale Offerees electing to sell Company Securities shall deliver to the Co-Sale Buyer the Company Securities to be sold thereto and shall receive in exchange therefor the consideration to be paid or delivered by the proposed transferee in respect
of such Company Securities in accordance with Section 1.a hereof. 
 c. In connection with a Transfer
of Company Securities by a member of the Pegasus Group in which a Co-Sale Transferee has elected to participate, each such Co-Sale Offeree may be required to the make the same representations and warranties, and agree to the same indemnities,
covenants and other agreements as each member of the Pegasus Group, provided, however, that with respect to individual representations and warranties of any stockholder as to the unencumbered title to its Company Securities and the power, authority
and legal right to Transfer such Company Securities, which are, for the avoidance of doubt, required to be made without exception, such individual representations and warranties may differ from those made by the Pegasus Group based on the specific
facts and circumstances related to such Co-Sale Offeree and no Co-Sale Offeree shall be liable for breaches of any representation or warranty with respect to the unencumbered title to Company Securities and/or the power, authority and legal right to
Transfer such Company Securities of any member of the Pegasus Group; provided further, however, that (i) no Co-Sale Offeree shall be required to make, or otherwise be subject to any liability in respect of, any representations or
warranties or indemnities, covenants or agreements with respect to the proposed Transfer other than on a several and not joint basis, (ii) in no event shall any Co-Sale Offeree be obligated to agree to any non-compete, non-solicit, no-hire or
other restrictive covenant in connection with such Transfer, and (iii) in no event shall any Co-Sale Offeree be liable for any amount in excess of the proceeds (net of any fees and expenses of such Transfer, including, without limitation, those
of the Co-Sale Offerees, which shall be borne pro rata by all participants in such transaction) actually paid to such Co-Sale Offeree in such proposed Transfer. 
 d. No member of the Pegasus Group shall structure the terms of any proposed Transfer in a manner intended to unreasonably limit the ability of the Co-Sale Offerees to participate in the proposed Transfer.
In furtherance of the foregoing, no member of the Pegasus Group shall prohibit or seek to prohibit, exercise any veto right it may be entitled to, fail to provide or withhold any necessary consent it may be entitled to, or take any action or fail to
take any action which could restrict or limit the right of any Co-Sale Offeree to participate in the proposed Transfer. 

  
 3 

 2. Pursuant to Section 5(e) of the Series H Certificate, in the event of a Control
Event (as defined therein), Purchaser shall have the right to take certain actions as provided in the Series H Certificate. PCA agrees, on behalf of the Pegasus Group, that to facilitate the exercise by Purchaser of its rights under the Series H
Certificate, a proxy in the form attached as Exhibit B hereto (“Proxy”) will be executed and delivered to Purchaser immediately upon request upon the occurrence of a Control Event by each member of the Pegasus Group that owns
(or to the extent that any such securities are owned in “street name”, beneficially owns) voting Company Securities as of such date, and by each other member of the Pegasus Group that subsequently owns voting Company Securities during the
duration of such Control Event. PCA (a) represents and warrants that no member of the Pegasus Group has entered, and covenants that during the term of this letter agreement no member of the Pegasus Group will enter, into any voting agreement or
voting trust other than for Company directors who are affiliated with members of the Pegasus Group or as set forth in the Series H Certificate and (b) represents and warrants that no member of the Pegasus Group has granted, and covenants that
during the term of this letter agreement no member of the Pegasus Group will grant, a proxy or power of attorney, in each case in clauses (a) and (b) with respect to voting Company Securities of such member to the extent inconsistent with
the terms of the Proxy and the obligations to enter into thereto hereunder. PCA also agrees to, and to cause each other member of the Pegasus Group to, take such further action or execute such other instruments as may be necessary to effectuate the
intent of this Section 2 and the Proxy and hereby revokes any proxy previously granted with respect to the Company Securities as held on the date hereof that would be inconsistent with the Proxy if executed on the date hereof.

 3. At least ten (10) business days prior to PCA or any member of the Pegasus Group, on the one hand, or the Purchaser,
on the other hand (either, as the case may be, the “Noticing Party”) exercising any demand registration right or plans to initiate an underwritten shelf take-down pursuant to any registration rights agreement that they may be party
to with the Company, the Noticing Party shall deliver to the other party (i.e., Purchaser or PCA, as the case may be, the “Recipient Party”), written notice thereof, which notice shall include in reasonable detail a description of
the proposed registration or underwritten shelf takedown, the number of Company Securities proposed to be registered, the timing of such registration or underwritten shelf takedown, the proposed method and plan of distribution, and the other terms
and conditions of such proposed registration or underwritten shelf takedown. If Recipient Party or any of its Affiliates notifies the Noticing Party in writing prior to the expiration of such ten (10) business day period of its desire to also
exercise its demand registration rights or initiate such an underwritten shelf takedown pursuant to its registration rights agreement with the Company, the Noticing Party, on the one hand, and Recipient Party and its Affiliates, on the other hand,
shall each coordinate their respective demand registration rights and underwritten shelf takedowns such that each shall be deemed to be a “demanding” or “initiating” or comparable party pursuant to its respective registration
rights agreement with the Company. Each of the Pegasus Group, on the one hand, and Purchaser and its Affiliates, on the other hand, agree that if they both intend to register and/or Transfer securities pursuant to a registration statement of the
Company in circumstances in which a managing underwriter has informed the Company that not all of their respective Company Securities so elected may be registered or Transferred, each agrees that it shall only Transfer Company Securities pursuant to
such registration statement on a pari passu basis, whether in connection with a demand registration, shelf registration, or piggyback registration. 

  
 4 

 4. Each party hereto represents that this letter agreement has been duly and validly
executed and delivered by such party and, assuming due authorization, execution and delivery by the other party hereto, constitutes a legal, valid and binding obligation of such party, enforceable against it in accordance with its terms. 

5. As used herein, the following capitalized terms shall have the meanings set forth below: 

“Company Securities” means any Equity Securities or any debt securities of the Company. 

“Transfer” means, as a noun, any voluntary or involuntary transfer, sale, pledge or hypothecation or
other disposition, whether directly or indirectly and whether through one or a series of transactions (including by way of a change of control of any member of the Pegasus Group), and, as a verb, voluntarily or involuntarily to transfer, sell,
pledge or hypothecation or otherwise dispose of, whether directly or indirectly and whether through one or a series of transactions. 
 6. Any provision of this letter agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by each of PCA and Purchaser or, in the
case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall affect or operate as a waiver thereof nor shall any single or partial exercise
thereof or any abandonment or discontinuance of steps to enforce such a right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Any waiver, permit, consent or approval of any
kind or character on the part of Purchaser of any breach or default under this Agreement or any such waiver of any provision or condition of this Agreement must be in writing by Purchaser and shall be effective only to the extent in such writing
specifically set forth. 
 7. Any and all notices or other communications required or permitted to be delivered hereunder shall
be deemed properly delivered if (i) delivered personally, (ii) mailed by first class, registered or certified mail, return receipt requested, postage prepaid, (iii) sent by next day or overnight mail or delivery or (iv) sent by
facsimile transmission (with a follow up copy under (iii) above): if to Riverwood, c/o Riverwood Capital Management, 70 Willow Road, Suite 100, Menlo Park, CA 94025, Attention: Jeffrey T. Parks, Facsimile: (650) 618-7114; and if to the Pegasus
Group, Pegasus Capital Advisors, 99 River Road, Cos Cob, CT, 06807, Fax (203) 869-6940, Attn: General Counsel. Any party may change the name and address of the designee to whom notice shall be sent by giving written notice of such change to the
other party. 
 8. If any term, provision, covenant or restriction of this letter agreement is held by a court of competent
jurisdiction or other authority to be invalid, void, unenforceable or against its regulatory policy, the remainder of the terms, provisions, covenants and restrictions of this letter agreement shall remain in full force and effect and shall in no
way be affected, impaired or invalidated. Upon such determination that any term, provision, covenant or restriction of this letter agreement is invalid, void, unenforceable or against regulatory policy, the parties hereto shall negotiate in good
faith to modify this letter agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 

  
 5 

 9. This letter agreement (a) constitutes the entire agreement among the parties hereto
with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, formal or informal, among the parties hereto with respect to the subject matter hereof and (b) shall not be assigned by
operation of law or otherwise, except that Purchaser may assign all or any of its rights and obligations hereunder to (i) any of Purchaser’s Affiliates to whom the Capital Stock held by Purchaser is Transferred in a Permitted Transfer or
(ii) in accordance with clause (y) of Section 1 above. Purchaser’s rights under this agreement shall terminate at such time that it, together with its Affiliates, beneficially owns less than 5.0% of the Company Securities
they collectively own as of the date hereof (as calculated on an as converted basis). 
 10. The parties agree that the remedies
at law for any breach or threatened breach, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived. Accordingly, in the event
of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this letter agreement, the party or parties who are or are to be thereby aggrieved shall have the right to specific performance and injunctive or
other equitable relief of its rights under this letter agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. 

11. This letter agreement will be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to
conflict of laws principles that would result in the application of the law of a different jurisdiction. 
 12. Each of the
parties hereto irrevocably consents to the exclusive jurisdiction and venue of any state court located within New Castle County, State of Delaware in connection with any matter based upon or arising out of this letter agreement or the transactions
contemplated hereby, agrees that process may be served upon them in any manner authorized by the laws of the State of Delaware for such persons and waives and covenants not to assert or plead any objection which they might otherwise have to such
jurisdiction, venue and process. Each party hereto hereby agrees not to commence any legal proceedings relating to or arising out of this Agreement or the transactions contemplated hereby in any jurisdiction or courts other than as provided herein.
Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by Delaware law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant
to Section 7 hereof is reasonably calculated to give actual notice. 
 13. This letter agreement may be executed in
two or more counterparts (including via facsimile and email in PDF format), all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to
the other party, it being understood that all parties need not sign the same counterpart. 
 [Remainder of page intentionally
left blank] 

  
 6 

 If the foregoing sets forth the understanding between us, please so indicate on the enclosed
signed copy of this letter in the space provided therefor and return it to us, whereupon this letter shall constitute a binding agreement among us. 
  

			
	 Very truly yours,

	
	RW LSG HOLDINGS LLC
		
	By:	 	 /s/ Michael E. Marks

	Name:	 	Michael E. Marks
	Title:	 	Director & CEO

  

			
	Accepted and agreed to:
	
	PEGASUS CAPITAL ADVISORS, L.P.
		
	By:	 	 Pegasus Capital Advisors GP, LLC,
 its general partner

		
	By:	 	 /s/ Steven Wacaster

		 	Name: Steven Wacaster
		 	Title: Vice President

 EXHIBIT A 
 SERIES H CERTIFICATE 
 [See
attached] 

 EXHIBIT B 
 IRREVOCABLE PROXY 

                      
                   (“Stockholder”), a stockholder of Lighting Science Group Corporation, a Delaware corporation (the
“Company”), hereby irrevocably appoints RW LSG Holdings LLC (“Primary Investor”), and any designee thereof (provided, that any such designee is an Affiliate of the Primary Investor and is acting on its behalf), as
the sole and exclusive attorneys and proxies of the undersigned, with full power of with full power of substitution and resubstitution, to the full extent of the undersigned’s rights with respect to the voting of all shares, interests, rights
to purchase, warrants, options, participations or other equivalents of or interests in the common stock or preferred stock of the Company (“Capital Stock”) owned by Stockholder (or to the extent that any such Capital Stock is owned
in “street name”, beneficially owned), including without limitation any Capital Stock acquired directly or indirectly by Stockholder after the date hereof, including without limitation, as a result of a stock dividend, stock split,
recapitalization, combination, reclassification, exchange, change of such shares, or otherwise, or upon exercise or conversion of any securities, that are, from time to time, owned by Stockholder (collectively, the “Covered
Shares”), commencing on the date of a Control Event (as such term is defined in the Certificate of Designation with respect to the Series H Convertible Preferred Stock of the Company (the “Series H Certificate”; capitalized
terms used but not defined herein shall have the meaning set forth in the Series H Certificate)) and continuing until the satisfaction in full or the waiver of the Redemption obligation which gave rise to the Control Event, in each case in
accordance with the terms of the Series H Certificate (the “Termination Date”). The Primary Investor’s rights hereunder shall terminate at such time that it, together with its Affiliates, beneficially owns less than 5.0% of the
Company Securities they collectively own as of May 25, 2012 (as calculated on an as converted basis). 
 Until the
Termination Date, this proxy is irrevocable to the extent permitted under Section 212 of the Delaware General Corporation Law, is coupled with an interest and is granted pursuant to the letter agreement dated May 25, 2012 between RW LSG
Holdings LLC and Pegasus Capital Advisors, L.P. (the “Letter Agreement”). Upon the execution hereof, all prior proxies given by the undersigned with respect to the Covered Shares are hereby revoked and no subsequent proxies will be
given. The attorneys and proxies named above will be empowered at any time prior to the Termination Date to vote or cause to be voted all of the Covered Shares at every meeting of Company stockholders and at every adjournment thereof, and on every
action or approval by written consent of Company stockholders, solely to take such actions as Primary Investor is entitled to take in exercise of its rights upon the occurrence of a Control Event pursuant to the terms of the Series H Certificate and
solely in accordance therewith. 
 Notwithstanding anything contained in this Proxy, this Proxy shall terminate when the Letter
Agreement terminates. 
  

			
	[STOCKHOLDER]
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:

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