Document:

Securities Purchase Agreement

 Exhibit 10.1 
 SECURITIES PURCHASE AGREEMENT 
 Dated as of
September 29, 2009 
 between 
 Norsk Hydro Produksjon AS 
 and 
 Ascent Solar Technologies, Inc. 

 TABLE OF CONTENTS 
  

			
	 ARTICLE I DEFINITIONS
	  	1
		
	 SECTION 1.01 DEFINITIONS
	  	1
		
	 ARTICLE II PURCHASE AND SALE OF SHARES
	  	6
		
	 SECTION 2.01 PURCHASE AND SALE OF THE
SHARES
	  	6
		
	 SECTION 2.02 PURCHASE PRICE
	  	6
		
	 SECTION 2.03 CLOSING
	  	6
		
	 SECTION 2.04 CLOSING DELIVERIES BY THE
COMPANY
	  	6
		
	 SECTION 2.05 CLOSING DELIVERIES BY THE
INVESTOR
	  	7
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	7
		
	 SECTION 3.01 ORGANIZATION AND QUALIFICATION; NO
SUBSIDIARIES
	  	7
		
	 SECTION 3.02 CERTIFICATE OF INCORPORATION AND BYLAWS

	  	7
		
	 SECTION 3.03 CAPITALIZATION
	  	8
		
	 SECTION 3.04 AUTHORITY
	  	8
		
	 SECTION 3.05 NO CONFLICT; REQUIRED FILINGS AND
CONSENTS
	  	9
		
	 SECTION 3.06 PERMITS; COMPLIANCE
	  	9
		
	 SECTION 3.07 SEC FILINGS; FINANCIAL STATEMENTS
	  	10
		
	 SECTION 3.08 ABSENCE OF CERTAIN CHANGES OR
EVENTS
	  	11
		
	 SECTION 3.09 ABSENCE OF LITIGATION
	  	12
		
	 SECTION 3.10 EMPLOYEE BENEFIT PLANS
	  	12
		
	 SECTION 3.11 LABOR MATTERS
	  	12
		
	 SECTION 3.12 [INTENTIONALLY OMITTED]
	  	12
		
	 SECTION 3.13 PROPERTY AND LEASES
	  	12
		
	 SECTION 3.14 INTELLECTUAL PROPERTY
	  	14
		
	 SECTION 3.15 TAXES
	  	15
		
	 SECTION 3.16 ENVIRONMENTAL MATTERS
	  	16
		
	 SECTION 3.17 CONTRACTS; DEBT INSTRUMENTS
	  	17
		
	 SECTION 3.18 RELATED PARTY TRANSACTIONS
	  	18
		
	 SECTION 3.19 INSURANCE
	  	18
		
	 SECTION 3.20 CONTROLS
	  	18
		
	 SECTION 3.21 PRIVATE OFFERING
	  	18
		
	 SECTION 3.22 VOTE REQUIRED
	  	19

			
	 SECTION 3.23 SECTION 203 OF THE DGCL; TAKEOVER
STATUTE
	  	19
		
	 SECTION 3.24 BROKERS
	  	19
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE INVESTOR
	  	19
		
	 SECTION 4.01 ORGANIZATION
	  	19
		
	 SECTION 4.02 AUTHORITY
	  	19
		
	 SECTION 4.03 NO CONFLICT; REQUIRED FILINGS AND
CONSENTS
	  	19
		
	 SECTION 4.04 INVESTMENT PURPOSE
	  	20
		
	 SECTION 4.05 STATUS OF SHARES; LIMITATIONS ON
TRANSFER AND OTHER RESTRICTIONS
	  	20
		
	 SECTION 4.06 SOPHISTICATION AND FINANCIAL CONDITION OF
THE INVESTOR
	  	20
		
	 SECTION 4.07 AVAILABLE FUNDS
	  	20
		
	 SECTION 4.08 OWNERSHIP OF COMPANY SECURITIES
	  	20
		
	 SECTION 4.09 BROKERS
	  	21
		
	 ARTICLE V CONDUCT OF BUSINESS PENDING THE CLOSING
	  	21
		
	 SECTION 5.01 CONDUCT OF BUSINESS BY THE
COMPANY PENDING THE CLOSING
	  	21
		
	 ARTICLE VI ADDITIONAL AGREEMENTS
	  	22
		
	 SECTION 6.01 ACCESS TO INFORMATION
	  	22
		
	 SECTION 6.02 FURTHER ACTION; REASONABLE BEST EFFORTS;
CONSENTS; FILINGS
	  	22
		
	 SECTION 6.03 PUBLIC ANNOUNCEMENTS
	  	23
		
	 SECTION 6.04 COOPERATION
	  	23
		
	 SECTION 6.05 CERTAIN NOTICES
	  	23
		
	 SECTION 6.06 FIRPTA
	  	24
		
	 ARTICLE VII CONDITIONS
	  	24
		
	 SECTION 7.01 CONDITIONS TO THE OBLIGATIONS OF
EACH PARTY
	  	24
		
	 SECTION 7.02 CONDITIONS TO THE OBLIGATIONS OF
THE INVESTOR
	  	24
		
	 SECTION 7.03 CONDITIONS TO THE OBLIGATIONS OF
THE COMPANY
	  	25
		
	 ARTICLE VIII TERMINATION, AMENDMENT AND WAIVER
	  	25
		
	 SECTION 8.01 TERMINATION
	  	25
		
	 SECTION 8.02 EFFECT OF TERMINATION
	  	25
		
	 SECTION 8.03 FEES AND EXPENSES
	  	26
		
	 SECTION 8.04 AMENDMENT
	  	26
		
	 SECTION 8.05 WAIVER
	  	26
		
	 ARTICLE IX GENERAL PROVISIONS
	  	26
		
	 SECTION 9.01 SURVIVAL OF REPRESENTATIONS AND
WARRANTIES; INDEMNIFICATION
	  	26
		
	 SECTION 9.02 NOTICES
	  	29
		
	 SECTION 9.03 SEVERABILITY
	  	29

			
	 SECTION 9.04 ENTIRE AGREEMENT; ASSIGNMENT
	  	29
		
	 SECTION 9.05 PARTIES IN INTEREST
	  	30
		
	 SECTION 9.06 SPECIFIC PERFORMANCE
	  	30
		
	 SECTION 9.07 GOVERNING LAW
	  	30
		
	 SECTION 9.08 WAIVER OF JURY TRIAL
	  	30
		
	 SECTION 9.09 ATTORNEYS’ FEES
	  	30
		
	 SECTION 9.10 COUNTERPARTS
	  	30

  

			
	EXHIBIT A	  	FORM OF REGISTRATION RIGHTS AGREEMENT

 SECURITIES PURCHASE AGREEMENT, dated as of September 29, 2009 (this
“Agreement”), between NORSK HYDRO PRODUKSJON AS, a corporation organized under the laws of the Kingdom of Norway (the “Investor”), and ASCENT SOLAR TECHNOLOGIES, INC., a corporation organized under the laws of the
State of Delaware (the “Company”). 
 RECITALS 
 WHEREAS, the Company is conducting an underwritten public offering (the “Public Offering”) of its Common Stock, par value
$0.0001 per share (the “Company Common Stock”) to raise up to $46 million (including shares of Company Common Stock to cover overallotments) pursuant to an effective shelf registration statement on file with the Securities and
Exchange Commission (the “SEC”); 
 WHEREAS, the Company desires to sell to the Investor, and the Investor
desires to purchase from the Company, pursuant to the terms and conditions set forth in this Agreement, such number of shares (the “Shares”) of Company Common Stock as is determined by dividing $5,000,000 (five million dollars) by
the price per share of Company Common Stock that shares of Company Common Stock are sold for in the Public Offering, which purchase and sale shall be contingent upon the closing of the Public Offering and shall close, if at all, concurrently with
the Public Offering; 
 WHEREAS, concurrently with execution of this Agreement the Investor will enter into a registration
rights agreement with the Company with respect to the Shares in the form attached hereto as Exhibit A (the “Registration Rights Agreement”); and 
 WHEREAS, certain terms used in this Agreement are defined in Section 1.01. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements and covenants
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01 Definitions. 
 (a) For purposes of this Agreement: 
 “affiliate” of a specified
person means a person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified person. 
 “beneficial owner” (and related terms such as “beneficially owned” or “beneficial ownership”) has the meaning ascribed to such term under Rule 13d-3 of
the Exchange Act. 
 “Board” means the Board of Directors of the Company. 
 “business day” means any day on which the principal offices of the SEC in Washington, D.C. are open to accept filings, or,
in the case of determining a date when any payment is due, any day on which banks are not required or authorized to close in New York City, New York; Denver, Colorado; or Oslo, Norway. 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 1 

 “Bylaws” means the Amended and Restated Bylaws of the Company, dated
April 17, 2007. 
 “Certificate of Incorporation” means the Amended and Restated Certificate of
Incorporation of the Company, dated as of October 26, 2005. 
 “Class B Warrants” means non-redeemable
Class B public warrants of the Company traded on Nasdaq under the symbol ASTIZ, each of which entitles the holder thereof to purchase one share of Company Common Stock at an exercise price of $11.00 per share. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “contract” means any agreement, contract, lease, power of attorney, note, loan, evidence of indebtedness, purchase order,
letter of credit, settlement agreement, franchise agreement, undertaking, covenant not to compete, employment agreement, license agreement, instrument, obligation, commitment, understanding, policy which constitutes an executory obligation, purchase
and sales order, quotation which constitutes an executory commitment and other executory commitments to which a person is a party or to which any of the assets of such person are subject, whether oral or written, express or implied. 
 “control” (including the terms “controlled by” and “under common control with”) means the
possession, directly or indirectly, or as trustee or executor, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, as trustee or executor, by contract, credit
arrangement or otherwise; including the ownership, directly or indirectly, of securities having the power to elect a majority of the board of directors or similar body governing the affairs of such person. 
 “DGCL” means the General Corporation Law of the State of Delaware. 
 “Environmental Laws” means any United States federal, state or local Laws in existence on the date hereof relating to
pollution or the protection, investigation or restoration of the environment or human health due to exposure to Hazardous Substances. 
 “Equity Interest” means any share, capital stock, partnership, member or similar interest in any person, and any option, warrant, right or security (including debt securities) convertible, exchangeable or exercisable
therefor. 
 “Expenses” means all reasonable and documented out-of-pocket costs, fees and expenses (including
all fees and expenses of counsel, accountants, experts and consultants to a party hereto and its affiliates) incurred by a party or on its behalf in connection with or related to the authorization, preparation, negotiation and execution of this
Agreement and the Registration Rights Agreement and the performance of the Transactions. 
 “Hazardous
Substances” means (i) those substances defined in or regulated under the following federal United States statutes and their state counterparts, as each may be amended from time to time, and all regulations thereunder: the Hazardous
Materials Transportation Act, the Solid Waste Disposal Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act, the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy
Act, the Toxic Substances Control Act, the Federal Insecticide, Fungicide, and Rodenticide Act, the Occupational Health and Safety Act and the Clean Air Act; (ii) petroleum and petroleum products, including crude oil and any fractions thereof;
(iii) natural gas,

  

 SECURITIES PURCHASE AGREEMENT 
 Page 2 

 
synthetic gas and any mixtures thereof; (iv) polychlorinated biphenyls, asbestos and radon and (v) any substance, material or waste defined as toxic or hazardous or as a pollutant or
contaminant, or regulated by any Governmental Authority pursuant to any Environmental Law. 
 “Intellectual
Property” means, in any and all jurisdictions throughout the world, all (a) inventions and discoveries (whether or not patentable and whether or not reduced to practice), improvements thereto, and patents, patent applications,
invention disclosures and other rights of invention, including any reissues, divisionals, continuations and continuations-in-part, provisionals, reexamined patents or other applications or patents claiming the benefit of the filing date of any such
application or patent; (b) trademarks, service marks, trade names, trade dress, logos, Internet domain names, product names, slogans and other identifiers of source or goodwill, including any common law rights, registrations, and applications
for registration for any of the foregoing, and including the goodwill symbolized by or associated with any of the foregoing; (c) copyrightable works, all rights in copyrights, including moral rights, copyrights, website content, packaging
design and art work and other rights of authorship and exploitation and any applications, registrations and renewals in connection therewith; (d) confidential and proprietary information, including customer and supplier lists and related
information, pricing and cost information, business and marketing plans, research and development, advertising statistics, any other financial, marketing and business data, technical data, databases, specifications, designs, drawings, methods,
schematics and know-how; (e) to the extent not covered by subsections (a) through (d), above, software and website content; (f) rights of privacy and publicity; (g) any other proprietary, intellectual property and other rights
relating to any or all of the foregoing and (h) all claims, causes of action and rights to sue for past, present and future infringement, misappropriation or unconsented use of any of the foregoing intellectual property, the right to file
applications and obtain registrations and all products, proceeds and revenues arising from or relating to any and all of the foregoing. 
 “knowledge of the Company” means the actual knowledge of the directors and executive officers of the Company, in each case, after reasonable inquiry. 
 “Leased Real Property” means the property demised under all leases, subleases or other occupancy agreements relating to all
real property that the Company leases or subleases or otherwise has any right, title or interest in or to. 
 “Lien” means any charge, mortgage, pledge, deed of trust, hypothecation, right of others, claim, security interest, encumbrance, burden, title defect, title retention agreement, lease, sublease, license, occupancy
agreement, easement, covenant, condition, encroachment, voting trust agreement, interest, option, right of first offer, negotiation or refusal, proxy, lien or other similar restrictions or limitations. 
 “Material Adverse Effect” means any event, circumstance, change or effect that (i) has or would have a material
adverse effect on the business, operations, assets, liabilities (including contingent liabilities), financial condition or results of operations of the Company or (ii) materially impairs or would materially impair the ability of the Company to
consummate the Transactions and perform its other obligations under this Agreement; provided, however, that “Material Adverse Effect” shall not include any event, circumstance, change or effect arising out of or attributable
to (i) any increase or decrease in the market price of the shares of the Company Common Stock (but not any event, circumstance, change or effect underlying such increase or decrease to the extent that such event, circumstance, change or effect
would otherwise constitute a Material Adverse Effect), (ii) any events, circumstances, changes or effects that generally affect the industries in which the Company operates and that do not materially disproportionately impact the Company,
(iii) any changes in the securities markets generally that do not materially disproportionately impact the Company or (iv) any changes in general economic, legal, regulatory or political conditions in the geographic regions in which the
Company operates that do not materially disproportionately impact the Company. 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 3 

 “Permitted Liens” means (i) liens for current Taxes not yet due and
payable and liens for Taxes being contested in good faith through proper proceedings (for which contested Taxes adequate reserves have been made), (ii) inchoate mechanics’ and materialmen’s liens for construction in progress and
(iii) such (A) inchoate workmen’s, repairmen’s, warehousemen’s and carriers’ liens arising in the ordinary course of business of the Company consistent with past practice, and (B) zoning restrictions, survey
exceptions, utility easements, rights of way and similar Liens that are typical for the applicable property type and locality (excluding, in each case, any mortgages or other Liens securing borrowed money) which do not materially interfere with the
current use of such Leased Real Property. 
 “person” means any individual, corporation, partnership, limited
partnership, limited liability company, syndicate, person (including a “person” or “group” each within the meaning of Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision,
agency or instrumentality of a government. 
 “Plan” means (i) all employee benefit plans (as defined in
Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) and all bonus, incentive, stock option, stock purchase, restricted stock, phantom stock, or other stock-based compensation, deferred compensation, retiree medical
or life insurance, supplemental executive retirement, severance or other benefit plans, programs, trusts or arrangements, and all employment, termination, severance, compensation or other contracts or agreements, to which the Company or any of its
affiliates is a party, or which are sponsored by the Company or any of its affiliates for the benefit of any employee, officer or director of the Company, and (ii) any contracts, arrangements, agreements, policies, practices or understandings
between the Company or any of its affiliates and any employee of the Company, including any contracts, arrangements or understandings or change in control arrangements relating to a sale of the Company. 
 “Release” shall have the meaning given to such term in the United States Comprehensive Environmental Response, Compensation
and Liability Act, 42 USC Section 9601 et seq. 
 “subsidiary” or “subsidiaries” of any
person means an affiliate controlled by such person, directly or indirectly, through one or more intermediaries. 
 “Tax
Returns” means any return, declaration, report, election, claim for refund or information return or other statement or form filed with or submitted to, or required to be filed with or submitted to, any Governmental Authority in respect of
Taxes, including any schedule or attachment thereto or amendment thereof. 
 “Taxes” means any and all taxes,
fees, levies, duties, tariffs, imposts and other similar charges of any kind (together with any and all interest, penalties, additions to tax and additional amounts imposed with respect thereto) imposed by any Governmental Authority or taxing
authority, including taxes or other charges on or with respect to income, franchise, windfall or other profits, gross receipts, property (real or personal), sales, use, capital stock, payroll, employment, occupation, severance, disability, premium,
environmental (including taxes under Code Section 59A), social security, workers’ compensation, estimated, unemployment compensation or net worth; alternative or add-on minimum; taxes or other charges in the nature of excise, withholding,
ad valorem, stamp, transfer, value-added or gains taxes; license, registration and documentation fees; and customs’ duties, tariffs and similar charges. 
 “Transactions” means execution and delivery of this Agreement and the Registration Rights Agreement, the purchase and sale of the Shares as contemplated by this Agreement, the issuance of
the Shares by the Company and the performance of the obligations contemplated by this Agreement and the Registration Rights Agreement. 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 4 

 (b) The following terms have the meanings set forth in the Sections set forth below:

  

			
	 Defined Term
	  	 Location of
Definition

	 Action
	  	§ 3.09
	 Agreement
	  	Preamble
	 Blue Sky Laws
	  	§ 3.05(b)
	 Claim Notice
	  	§ 9.01(e)
	 Closing
	  	§ 2.03
	 Company
	  	Preamble
	 Company Common Stock
	  	Recitals
	 Company Intellectual Property
	  	§ 3.14(b)
	 Company Material Contract
	  	§ 3.17
	 Company Options
	  	§ 3.03(a)
	 Company Preferred Stock
	  	§ 3.03(a)
	 Company Stock Option Plan
	  	§ 3.03(a)
	 Disclosure Schedule
	  	Article III
	 Dispute Notice
	  	§ 9.01(h)
	 Exchange Act
	  	§ 3.05(b)
	 GAAP
	  	§ 3.07(b)
	 Governmental Authority
	  	§ 3.05(b)
	 Indemnified Party
	  	§ 9.01(e)
	 Indemnifying Party
	  	§ 9.01(e)
	 Indemnity Notice
	  	§ 9.01(h)
	 Investor
	  	Preamble
	 Law
	  	§ 3.05(a)
	 Losses
	  	§ 9.01(b)
	 Nasdaq
	  	§ 3.05(b)
	 Permits
	  	§ 3.06
	 Public Offering
	  	Recitals
	 Purchase Price
	  	§ 2.02
	 R&D Sponsor
	  	§ 3.14(f)
	 Registered IP
	  	§ 3.14(a)
	 Registration Rights Agreement
	  	Recitals
	 SEC
	  	Recitals
	 SEC Reports
	  	§ 3.07(a)
	 Securities Act
	  	§ 3.07(a)
	 Shares
	  	Recitals
	 SOX
	  	§ 3.20
	 Termination Date
	  	§ 8.01
	 Third Party Claim
	  	§ 9.01(e)

  

 SECURITIES PURCHASE AGREEMENT 
 Page 5 

 (c) Interpretation and Rules of Construction. In this Agreement, except to the extent
otherwise provided or that the context otherwise requires: 
 (i) When a reference is made in this Agreement to
an Article, Section, Exhibit or Schedule, such reference is to an Article or Section of, or an Exhibit or Schedule to, this Agreement, unless otherwise indicated; 
 (ii) The table of contents and headings for this Agreement are for reference purposes only and do not affect in any way the
meaning or interpretation of this Agreement; 
 (iii) Whenever the words “include”,
“includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without limitation”; 
 (iv) The words “hereof”, “herein” and “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular
provision of this Agreement; 
 (v) All terms defined in this Agreement have the defined meanings when used in
any certificate or other document delivered pursuant hereto, unless otherwise defined therein; 
 (vi) The
definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; 
 (vii) References to a person are also to its successors and permitted assigns; 
 (viii) References to
this Agreement or the Registration Rights Agreement are deemed to include a reference to such agreement, as amended, modified or supplemented; and 
 (ix) The use of “or” is not intended to be exclusive unless expressly indicated otherwise. 
 ARTICLE II 
 PURCHASE AND SALE OF SHARES 
 SECTION 2.01 Purchase and Sale of the Shares. Upon the terms and subject to the conditions of this Agreement, at the Closing, the
Company shall issue to the Investor, and the Investor shall purchase, accept and acquire from the Company, the Shares. 
 SECTION 2.02 Purchase Price. The purchase price for the Shares shall be $5,000,000 (five million dollars) in the aggregate (the “Purchase Price”). 
 SECTION 2.03 Closing. The closing of the issuance, purchase and sale of the Shares (the “Closing”) will take place
concurrently with the closing of the Public Offering, at the offices of Holland & Knight LLP, 2300 U.S. Bancorp Tower, 111 S.W. Fifth Avenue, Portland, Oregon 97204, unless another time, date or place is agreed to by the Investor and the
Company. 
 SECTION 2.04 Closing Deliveries by the Company. At the Closing, the Company shall deliver or cause to be
delivered to the Investor: 
 (a) duly executed certificates evidencing the Shares, registered in the name of the
Investor; 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 6 

 (b) an executed counterpart of the Registration Rights Agreement;

 (c) copies of resolutions duly adopted by the Board authorizing the execution, delivery and performance of
this Agreement, the Registration Rights Agreement and the sale and issuance of the Shares to the Investor; and 
 (d) copies of Listing of Additional Shares Notices filed with Nasdaq by or on behalf of the Company in respect of the Shares and a certificate of the President of the Company certifying that no objection has been received by the Company
from Nasdaq regarding such notices that has not been cured or waived. 
 SECTION 2.05 Closing Deliveries by the Investor.
At the Closing, the Investor shall deliver to the Company: 
 (a) the Purchase Price by wire transfer in
immediately available funds to an account specified by the Company in writing no less than two (2) business days prior to the Closing; and 
 (b) an executed counterpart of the Registration Rights Agreement. 
 ARTICLE III

 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 As an inducement to the Investor to enter into this Agreement, except as set forth in the Disclosure Schedule, which identifies exceptions
by specific Section references, dated as of the date hereof delivered by the Company to the Investor (the “Disclosure Schedule”), the Company hereby represents and warrants to the Investor that: 
 SECTION 3.01 Organization and Qualification; No Subsidiaries. 
 (a) The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware and has the
requisite corporate power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted. The Company is duly qualified or licensed as a foreign corporation to do business, and is in good standing,
in each jurisdiction where the character of the properties owned, leased or operated by it or the nature of its business makes such qualification, licensing or good standing necessary, except for such failures to be so qualified or licensed and in
good standing that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b)
The Company does not (i) directly or indirectly own any Equity Interest, or any interest convertible into or exchangeable or exercisable for any Equity Interest in, any person or (ii) have any subsidiaries. 
 SECTION 3.02 Certificate of Incorporation and Bylaws. The Company has heretofore made available to the Investor a complete and
correct copy of the Certificate of Incorporation and the Bylaws, each as amended to date, of the Company. Such Certificate of Incorporation and Bylaws of the Company are in full force and effect. The Company is not in violation of any of the
provisions of its Certificate of Incorporation or Bylaws. True and complete copies of all minute books of the Company containing minutes for the period from October 26, 2005 to the date of this Agreement have been made available by the Company
to the Investor. 
  

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 SECTION 3.03 Capitalization. 
 (a) The authorized capital stock of the Company consists of 75,000,000 shares of Company Common Stock and 25,000,000 shares of preferred
stock, par value $0.0001 per share (the “Company Preferred Stock”). As of September 23, 2009, (i) 21,157,261 shares of Company Common Stock were issued and outstanding, all of which were validly issued, fully paid,
nonassessable and free of preemptive rights and (ii) no shares of Company Common Stock were held in the treasury of the Company. As of September 23, 2009, 1,083,281 shares of Company Common Stock were issued or issuable (and 2,500,000
shares of Company Common Stock were reserved for issuance) upon exercise of outstanding employee stock options granted pursuant to the Company’s 2005 Stock Option Plan, as amended through the date of this Agreement (the “Company Stock
Option Plan”). As of the date hereof, no shares of Company Preferred Stock are issued and outstanding. As of September 23, 2009, 10,502,583 Class B Warrants were issued and outstanding. Except as set forth in this
Section 3.03 and Section 3.10, there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which the Company is a party or by which the Company is bound relating to the issued
or unissued capital stock or other Equity Interests of the Company, or securities convertible into or exchangeable for such capital stock or other Equity Interests, or obligating the Company to issue or sell any shares of its capital stock or other
Equity Interests, or securities convertible into or exchangeable for such capital stock of, or other Equity Interests in, the Company. Since September 23, 2009 the Company has not issued any shares of its capital stock, or securities
convertible into or exchangeable for such capital stock or other Equity Interests, other than those shares of capital stock reserved for issuance as set forth in this Section 3.03 or in Section 3.03(a) of the Disclosure
Schedule. Set forth in Section 3.03(a) of the Disclosure Schedule is a true and complete list, as of September 20, 2009, of the prices at which outstanding options issued under the Company Stock Option Plan (the “Company
Options”) may be exercised under the Company Stock Option Plan, the number of Company Options outstanding at each such price and the vesting schedule of the Company Options (i) granted to each “executive officer” of the
Company (within the meaning of such term under Section 16 of the Exchange Act) or which are “incentive stock options” within the meaning of Section 422 of the Code granted to any person. All shares of Company Common Stock issued
upon exercise of a Company Option have been and will be duly authorized, validly issued, fully paid and nonassessable. Except as set forth in Section 3.03(a) of the Disclosure Schedule, there are no outstanding contractual obligations of
the Company (A) restricting the transfer of, (B) affecting the voting rights of, (C) requiring the repurchase, redemption or disposition of, or containing any right of first refusal with respect to, (D) requiring the registration
for sale of or (E) granting any preemptive or antidilutive right with respect to, any shares of Company Common Stock or any capital stock of, or other Equity Interests in, the Company. There are no outstanding contractual obligations of the
Company to provide funds to, or make any investment (in the form of a loan, capital contribution or otherwise) in, any person. 
 (b) The Shares, when issued, paid for and delivered in accordance with the terms of this Agreement, will be duly authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights. 
 SECTION 3.04 Authority. The Company has all necessary power and authority to execute and deliver this Agreement and the Registration
Rights Agreement, to perform its obligations hereunder and thereunder and to consummate the Transactions. The Company’s execution and delivery of this Agreement and the Registration Rights Agreement and the consummation by the Company of the
Transactions have been duly and validly authorized by all necessary corporate action and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement or the Registration Rights Agreement or to consummate the
Transactions. The Board has approved this Agreement, the Registration Rights Agreement, and the issuance of the Shares. This Agreement and the Registration Rights Agreement have been duly authorized and validly executed and delivered by the Company

  

 SECURITIES PURCHASE AGREEMENT 
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and, assuming the due authorization, execution and delivery by the Investor, this Agreement and the Registration Rights Agreement constitute a legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with their respective terms. 
 SECTION 3.05 No Conflict; Required Filings and
Consents. 
 (a) The execution and delivery by the Company of this Agreement and the Registration Rights Agreement do not,
and the performance of its obligations hereunder and thereunder will not, (i) conflict with or violate the Certificate of Incorporation or Bylaws of the Company, (ii) assuming that all consents, approvals, authorizations and other actions
described in subsection (b) have been obtained and all filings and obligations described in subsection (b) have been made, conflict with or violate any domestic or, to the knowledge of the Company, foreign, statute, law, ordinance,
regulation, rule, code, executive order, injunction, judgment, decree or other order (“Law”) applicable to the Company or by which any property or asset of the Company is bound or affected or (iii) require any consent or
approval under, result in any breach of or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any right of termination, amendment, acceleration or cancellation of, or give
to others a right to require any payment to be made under, or result in the creation of a Lien or other encumbrance on any property or asset of the Company pursuant to, any note, bond, mortgage, indenture, contract, agreement, lease, license,
permit, franchise or other instrument or obligation, except, with respect to clauses (ii) and (iii), for any such conflicts, violations, breaches, defaults or other occurrences which would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 (b) The execution and delivery by the Company of this Agreement and the
Registration Rights Agreement do not, and the performance of its obligations hereunder and thereunder will not, require any consent, approval, authorization or permit of, or filing with or notification to, any United States federal, state, county or
local or, to the knowledge of the Company, foreign, government, governmental, Tax, regulatory or administrative authority, agency, instrumentality or commission or any court, tribunal or judicial or arbitral body (a “Governmental
Authority”), except (i) for (A) applicable requirements, if any, of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), state securities or
“blue sky” laws (“Blue Sky Laws”), and (B) any filings required under the rules and regulations of the Nasdaq Stock Market (“Nasdaq”) and (ii) where the failure to obtain such consents,
approvals, authorizations or permits, or to make such filings or notifications, would not, individually or in the aggregate, reasonably be expected to (1) prevent or materially delay consummation of the Transactions, (2) otherwise prevent
or materially delay performance by the Company of any of its material obligations under this Agreement or the Registration Rights Agreement or (3) have a Material Adverse Effect. 
 SECTION 3.06 Permits; Compliance. The Company is in possession of all franchises, grants, authorizations, licenses, permits,
easements, variances, exceptions, consents, certificates, approvals and orders of any United States Governmental Authority and, to the knowledge of the Company, any foreign Governmental Authority, necessary for the Company to own, lease and operate
its properties or to carry on its business as it is now being conducted and substantially as described in the Company’s SEC Reports filed prior to the date hereof (the “Permits”), and all such Permits are valid, and in full force and
effect, except where the failure to have, or the suspension or cancellation of, or failure to be valid or in full force and effect of, any of the Permits would not, individually or in the aggregate, reasonably be expected to (A) prevent or
materially delay consummation of the Transactions, (B) otherwise prevent or materially delay performance by the Company of any of its material obligations under this Agreement or any Registration Rights Agreement to which it is a party or
(C) have a Material Adverse Effect. As of the date hereof, no suspension or cancellation of any

  

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of the Permits is pending or, to the knowledge of the Company, threatened, except where the failure to have, or the suspension or cancellation of, any of the Permits would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. The Company is not in conflict with, or in default, breach or violation of, (i) any domestic United States Law or, to the knowledge of the Company, any foreign Law,
applicable to the Company or by which any property or asset of the Company is bound or affected, or (ii) any Permits, except for any such conflicts, defaults or violations that would not, individually or in the aggregate, reasonably be expected
to (A) prevent or materially delay consummation of the Transactions, (B) otherwise prevent or materially delay performance by the Company of any of its material obligations under this Agreement or the Registration Rights Agreement or
(C) have a Material Adverse Effect. Since the enactment of SOX, the Company and each of its officers and directors have been and are in compliance in all material respects with (A) the applicable provisions of SOX and the related rules and
regulations promulgated thereunder and under the Exchange Act and (B) the applicable listing and corporate governance rules and regulations of Nasdaq. 
 SECTION 3.07 SEC Filings; Financial Statements. 
 (a) The Company has
timely filed all forms, reports and documents (including all exhibits) required to be filed by it with the SEC since July 10, 2006 (the “SEC Reports”). The SEC Reports (i) were prepared in accordance with the requirements
of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”) or the Exchange Act, as the case may be and (ii) did not at the time they were filed 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 made therein, in the light of the circumstances under which they were made, not misleading. As of the date
hereof, the Company is eligible to register securities on Form S-3 of the Securities Act. 
 (b) Each of the financial
statements (including, in each case, any notes thereto) contained in the SEC Reports was prepared in accordance with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the
periods indicated (except as may be indicated in the notes thereto) and the Company’s books and records, and each fairly presented the financial position, results of operations and cash flows of the Company as at the respective dates thereof
and for the respective periods indicated therein except as otherwise noted therein (subject, in the case of unaudited statements, to normal year-end adjustments which individually or in the aggregate did not have, and would not reasonably be
expected to have, a Material Adverse Effect). The books and records of the Company have been, and are being, maintained in accordance with applicable legal and accounting requirements in all material respects. 
 (c) Except as and to the extent set forth on the balance sheet of the Company as of June 30, 2009 included in the Company Form 10-Q for
the quarterly period ended June 30, 2009, including the notes thereto, the Company has no liabilities or obligations of any nature (whether accrued, absolute, contingent or otherwise), except for liabilities or obligations incurred since
June 30, 2009 that would not, individually or in the aggregate, reasonably be expected to (A) prevent or materially delay consummation of the Transactions, (B) otherwise prevent or materially delay performance by the Company of any of
its material obligations under this Agreement or the Registration Rights Agreement or (C) have a Material Adverse Effect. 
 (d) The Company has previously made available to the Investor a complete and correct copy of any amendment or modification which has not yet been filed with the SEC to any agreement, document or other instrument which previously had been
filed by the Company with the SEC pursuant to the Securities Act or the Exchange Act. 
  

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 (e) As of the date hereof, neither the Company nor, to the knowledge of the Company, any of
the Company’s employees, is the subject of any formal or informal investigation by the SEC, and, to the knowledge of the Company, no such investigation has been threatened or in fact exists which would reasonably be expected to result in the
institution of any such investigation. Written correspondence (other than any transmittal letter or other correspondence that does not address substantively any comments or questions from, or ongoing discussions with, the SEC), with the SEC since
July 10, 2006 until the date hereof has been made available to the Investor. The audit committee of the Board has established “whistleblower” procedures that meet the requirements of Exchange Act Rule 10A-3, and has made available to
the Investor true, complete and correct copies of such procedures. The Company has received no “complaints” (within the meaning of Exchange Act Rule 10A-3) in respect of any accounting, internal accounting controls or auditing matters. To
the knowledge of the Company, no complaints seeking relief under Section 806 of SOX have been filed with the United States Secretary of Labor and no employee has threatened to file any such complaint. 
 SECTION 3.08 Absence of Certain Changes or Events. Except as expressly contemplated by this Agreement or as set forth in
Section 3.08 of the Disclosure Schedule, since June 30, 2009 through the date hereof, the Company has conducted its business in the ordinary course consistent with past practice and, since such date through the date hereof,
(i) there has not occurred any Material Adverse Effect or an event or development that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or any event or development that would, individually or in
the aggregate, reasonably be expected to prevent or materially delay the performance of this Agreement or the Registration Rights Agreement by the Company and (ii) the Company has not (A) issued, sold, pledged, disposed, granted or
encumbered any shares of any class of capital stock or other Equity Interests in or of the Company, (B) sold, pledged, disposed, transferred, leased, licensed, guaranteed or encumbered any material property or assets of the Company, except in
the ordinary course of business consistent with past practice, (C) acquired (including by merger, consolidation, or acquisition of stock or assets or any other business combination) any corporation, partnership, other business organization or
any division thereof, (D) incurred any indebtedness for borrowed money which, individually or together with all such other indebtedness , exceeds $200,000, (E) granted any security interest in any of its material assets except for
such security interests as would constitute a Permitted Lien, (F) made or authorized any capital expenditure or purchase of fixed assets other than in the ordinary course of business, (G) increased the compensation or benefits payable to
or to become payable to its directors, officers or employees, except for increases in accordance with past practices in salaries or wages of employees of the Company which are not across-the-board increases, or granted any rights to severance or
termination pay to, or entered into any employment or severance agreement with, any director, officer or other employee (other than severance for employees other than officers, in accordance with past practice, in connection with such
employee’s termination of employment with the Company) of the Company, or taken any affirmative action to amend or waive any performance or vesting criteria or accelerate vesting, exercisability or funding under any Plan, (H) made, revoked
or changed any election in respect of Taxes, adopted or changed any material accounting method in respect of Taxes or settled or compromised any material claim, notice, audit report, liability or assessment in respect of Taxes, (I) made any
material change, other than changes required by GAAP or in the ordinary course of business, with respect to accounting policies or procedures of the Company, (J) pre-paid any long-term debt or paid, discharged or satisfied any claims,
liabilities or obligations (absolute, accrued, contingent or otherwise), except for such payments, discharges or satisfaction of claims as were in the ordinary course of business consistent with past practice or (K) written up, written down or
written off the book value of any material assets, or a material amount of any other assets, other than in the ordinary course of business or except as required by GAAP. 
  

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 SECTION 3.09 Absence of Litigation. There is no litigation, suit, claim, action,
formal complaint, prosecution, indictment, formal investigation, arbitration or proceeding (whether civil, criminal or administrative, an “Action”) pending or, to the knowledge of the Company, threatened against the Company, or any
property or asset of the Company, or, to the knowledge of the Company, for which the Company is obligated to indemnify a third party, before any Governmental Authority that (i) has had or would, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect or (ii) challenges the validity or propriety or seeks to materially delay or prevent the consummation of the Transactions and which is reasonably expected to be adversely determined against the
Company. Neither the Company nor any property or asset of the Company is subject to any order of, consent decree, settlement agreement or similar written agreement with, any Governmental Authority, or any order, writ, judgment, injunction, decree,
ruling, determination or award of any Governmental Authority that would, individually or in the aggregate, reasonably be expected to (A) prevent or materially delay consummation of the Transactions, (B) otherwise prevent or materially
delay performance by the Company of any of its material obligations under this Agreement or the Registration Rights Agreement or (C) result in a Material Adverse Effect. 
 SECTION 3.10 Employee Benefit Plans. 
 (a) The Transactions will not entitle any employee, officer or director of the Company to any amount (whether in cash or property) that would be received under any Plan, or increase the amount of or
accelerate the time of payment of vesting thereof. 
 (b) Except as set forth in Section 3.10(b) of the Disclosure
Schedule, all of the options issued under the Company Stock Option Plan are (i) unvested and (ii) were issued at no less than fair market value on the date of grant. 
 SECTION 3.11 Labor Matters. The Company is not a party to any collective bargaining agreement or other labor union contract
applicable to persons employed by the Company, nor, to the knowledge of the Company as of the date hereof, are there any activities or proceedings of any labor union to organize any such employees. There are no controversies pending or, to the
knowledge of the Company, threatened between the Company and any of its employees, and there is no organized strike, slowdown, work stoppage or lockout by or with respect to any employees of the Company. The Company has complied in all material
respects with all applicable Laws relating to employment, equal employment opportunity, labor, nondiscrimination, immigration, wages, hours, benefits, collective bargaining and occupational safety and health. The Company has properly classified for
Tax purposes, and for the purpose of determining eligibility to participate in any Plan, all employees, leased employees, independent contractors and consultants who have provided or who are currently providing services to the Company and made all
appropriate filings in connection with services provided by such persons to the Company in accordance with their classification. 
 SECTION 3.12 [Intentionally Omitted.] 
 SECTION 3.13 Property and Leases. 
 (a) The Company owns no real property. Other than the Leased Real Property, the Company does not have any interest in any other real
property. 
 (b) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect, (i) the Company has valid and enforceable leasehold interests in all Leased Real Property and (ii) none of the Leased Real Property is subject to any Liens (other than Permitted Liens) or any other easements, rights of way,
licenses, grants, building or use restrictions, exceptions, reservations, limitations or other impediments. No person other than the Company leases, has a tenancy or otherwise occupies, or has the right to occupy or use, the Leased Real Property.

  

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 (c) With respect to each Leased Real Property, except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect: (i) such lease or sublease is legal, valid, binding, enforceable and in full force and effect; (ii) there exists no default under any such lease or sublease by the
Company which has not been cured, and, to the knowledge of the Company, there has not occurred any event that (with the lapse of time or the giving of notice or both) would constitute, and no party to any such lease has given the Company written
notice of or made a claim with respect to, a default on the part of the Company under any such lease or sublease; (iii) to the knowledge of the Company, no party (other than the Company) is in default, and there has not occurred any event that
(with the lapse of time or giving of notice or both) would constitute a default by any such party under any such lease or sublease; (iv) all leasing, brokerage, finder and other similar fees and commissions that are due and payable by the
Company with respect to such leases and subleases have been paid in full and (v) a true, correct and complete copy of each such lease and sublease (including any renewal notices delivered thereunder) and any guaranty given with respect thereto
has been furnished or made available to the Investor. 
 (d) Except in each case as would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect, all Leased Real Property is in good and usable condition, subject to normal wear and tear and normal industry practice with respect to maintenance, and has such rights of egress and ingress,
and such easements, rights of way and grants, as are necessary to allow such real property to be operated, and the business of the Company conducted with respect thereto to be conducted, as now operated and conducted. Except in each case as would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, to the Company’s knowledge, no improvement on any Leased Real Property encroaches on an adjacent property owner’s property, and no property
owner’s property encroaches on any Leased Real Property. The Leased Real Property is all of the material real property assets which are used in or necessary to the continued conduct of the Company’s business as it is currently operated.

 (e) Except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect, (i) the Company, with respect to the Leased Real Property, has not violated (or will not violate with notice or the passing of time or both) any zoning, subdivision or building Law applicable thereto, including all applicable health,
fire and safety Laws, ordinances and administrative regulations and (ii) the Company has not violated (or will not violate with notice or the passing of time or both) any covenants, conditions or restrictions contained in any easement,
restrictive covenant or other similar instrument or agreement affecting the Leased Real Property. As of the date hereof the Company has not received from any Governmental Authority or any other person any written notice of any current or potential
material violation of or material noncompliance with any of the matters set forth in clauses (i) and (ii) of the immediately preceding sentence. 
 (f) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, there is no pending or, to the knowledge of the Company, threatened condemnation or
eminent domain proceeding or changes in zoning affecting the Leased Real Property that would adversely affect the use, operation, maintenance, enjoyment or value thereof in any material respect. 
  

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 SECTION 3.14 Intellectual Property. 
 (a) Section 3.14(a) of the Disclosure Schedule sets forth a true and complete list of all (i) registered trademarks,
service marks and applications therefor, (ii) registered copyrights and applications therefor, (iii) issued patents and applications therefor and (iv) domain names, in each case, that are owned by the Company (collectively, the
“Registered IP”), including an indication for each such item of Registered IP, as applicable, the application or registration number, date and jurisdiction or filing or issuance, and the identity of the current applicant or
registered owner. 
 (b) Except as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, (i) the Company owns, or otherwise have a valid right to use, free and clear of all Liens (other than Permitted Liens and encumbrances arising pursuant to license agreements), all Intellectual Property used or held for use in
connection with the operation of its business as presently or as contemplated to be conducted (“Company Intellectual Property”) and (ii) there are no other items of Intellectual Property that are material to or necessary for
the operation of the Company’s business or for the continued operation of the Company’s business immediately after the consummation of the Transactions in substantially the same manner as operated prior to the consummation of the
Transactions. 
 (c) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect, (i) the Company and the operation of its business does not, and has not, infringed, misappropriated or otherwise violated or conflicted with the Intellectual Property rights of any other person, (ii) there is no action or claim
pending, asserted or threatened against the Company concerning any of the foregoing or otherwise concerning any Company Intellectual Property, nor has the Company received any notification that a license under any other person’s Intellectual
Property is or may be required and (iii) no person is engaging in any activity that infringes, misappropriates or otherwise violates or conflicts with any Company Intellectual Property. 
 (d) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (i) the Company
has taken reasonable measures to maintain the confidentiality and value of all confidential information and other confidential Intellectual Property used or held for use in connection with the operation of its business and (ii) no confidential
information, trade secrets or other confidential Intellectual Property have been disclosed by the Company to any person except pursuant to valid and appropriate non-disclosure and/or license agreements that have not been breached. 
 (e) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company
Intellectual Property is (i) valid, subsisting and enforceable, (ii) currently in compliance with any and all formal legal requirements necessary to maintain the validity and enforceability thereof and (iii) not subject to any
outstanding order, judgment, injunction, decree, ruling or agreement adversely affecting the Company’s use thereof or rights thereto, or that would impair the validity or enforceability thereof. Except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect, the Registered IP is currently in compliance with any and all formal legal requirements necessary to record and perfect the Company’s interest therein and the chain of title
thereof. 
 (f) Except as set forth in Section 3.14(f) of the Disclosure Schedule, or except as would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (i) no university, military, educational institution, research center, Governmental Authority, or other organization (each, an “R&D
Sponsor”) has sponsored research and development conducted by the Company, or has any claim of right to, ownership of or other Lien on any Company Intellectual Property, (ii) no research and development conducted by or for the
Company’s business was performed by a graduate student or employee of any R&D Sponsor and (iii) the Company has not participated in any standards-setting activities or joined any standards setting or similar organization that would
affect the proprietary nature of any Company Intellectual Property or restrict the ability of the Company to enforce, license or exclude others from using any Company Intellectual Property. 
  

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 (g) Except as would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, (i) to the knowledge of the Company, no employee, independent contractor, or agent of the Company is in default or breach of any term of any employment agreement, non-disclosure agreement, assignment of invention
agreement or similar agreement relating to the protection, ownership, development, use or transfer of Company Intellectual Property or any other Intellectual Property and (ii) to the extent that any Intellectual Property has been conceived,
developed or created for the Company by any other person, the Company has executed valid and enforceable written agreements with such person with respect thereto transferring to the Company the entire and unencumbered right, title and interest
therein and thereto by operation of law or by valid written assignment. 
 (h) The execution and delivery by the Company of this
Agreement and the Registration Rights Agreement do not, and the performance of its obligations hereunder and thereunder will not, adversely affect the validity of, or the Company rights in, any Company Intellectual Property. 
 SECTION 3.15 Taxes. 
 (a) Filing of Tax Returns. The Company has timely filed with the appropriate taxing authorities all Tax Returns required to be filed through the date hereof (after giving effect to any filing
extension properly granted by a Governmental Authority having authority to do so or otherwise permitted by applicable Law). All such Tax Returns are true, complete and accurate. All income Taxes and other material Taxes due and owing by the Company
on or before the date hereof (whether or not shown on any Tax Return) have been paid. The Company is not doing business in and is not engaged in a trade or business in any jurisdiction in which Tax Returns have not been filed. No claim has ever been
made by a Governmental Authority in a jurisdiction where the Company does not file Tax Returns that it is or may be subject to taxation by that jurisdiction. 
 (b) Reserves for Taxes. The unpaid Taxes of the Company (i) did not, as of the dates of the financial statements contained in the SEC Reports filed with the SEC prior to the date of this
Agreement, exceed the reserve for Tax liability (excluding any reserve for deferred Taxes established to reflect timing differences between book and Tax income) included in the balance sheets contained in such financial statements, and
(ii) will not exceed that reserve as adjusted for operations and transactions through the Closing, subject to such exceptions as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Since the
date of the most recent financial statement contained in the SEC Reports filed with the SEC prior to the date of this Agreement, the Company has not incurred any liability for Taxes outside the ordinary course of business or otherwise inconsistent
with past custom and practice. 
 (c) Claims and Provisions of Tax Returns. No deficiencies for Taxes against the Company
have been claimed or assessed in writing by a Governmental Authority. There are no pending or, to the knowledge of any of the Company, threatened audits, assessments, adjustments or other Actions for or relating to any liability in respect of Taxes
of the Company, and there are no matters under discussion with any Governmental Authority, or known to the Company, with respect to Taxes that are likely to result in any additional liability for Taxes with respect to the Company. None of the
Company or, to the knowledge of the Company, any of its predecessors, has waived any statute of limitations in respect of Taxes or agreed to any extension of time with respect to a Tax assessment or deficiency (other than as a result of a valid
extension of time to file a Tax Return). 
  

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 (d) Liens. There are no Liens for Taxes other than Permitted Liens on any assets of
the Company. 
 (e) Tax Sharing Agreements. There are no Tax sharing or allocation agreements or similar arrangements
(including indemnity arrangements) with respect to or involving the Company, and, after the date of the Closing, the Company shall not be bound by any such Tax sharing or allocation agreements or similar arrangements or have any liability thereunder
for amounts due in respect of periods prior to the date of the Closing. 
 (f) Other Entity Liability. The Company has
not been a member of an affiliated group filing a consolidated federal income Tax Return. The Company does not have any liability for the Taxes of any person (other than Taxes of the Company) (i) under Treasury Regulation Section 1.1502-6
(or any similar provision of state or local Law), (ii) as a transferee or successor, (iii) by contract, or (iv) otherwise. 
 (g) Withholding Taxes. The Company has withheld, collected and deposited all Taxes required under applicable Law to have been withheld, collected and deposited in connection with amounts paid or
owing to any employee, independent contractor, creditor, stockholder or other third party. 
 (h) Tax Shelters. The
Company has not entered into any transaction identified as a “reportable transaction” or a “listed transaction” for purposes of Treasury Regulations Sections 1.6011-4(b) or 301.6111-2(b). 
 (i) Ownership Changes. The Company has not undergone any ownership change since its inception that would cause an annual limitation
on the utilization of its net operating losses pursuant to Section 382 of the Code, subject to such exceptions as would not materially decrease the amount of its net operating losses utilized in such prior taxable years. 
 (j) Transfer Tax. No Tax or duty (including any stamp, registration, documentation, transfer or other similar Tax or duty and any Tax
or duty on capital gains or income, whether chargeable on a withholding basis or otherwise) is payable by the Investor or the Company in connection with the Transactions. 
 (k) Documentation. During the applicable statute of limitations period for Taxes, the Company and, to the knowledge of the Company, its predecessors, have properly maintained documentation for all
Taxes and Tax Returns. 
 SECTION 3.16 Environmental Matters. (i) The Company is not in violation of, and is not
subject to any liability with respect to, any Environmental Law; (ii) there has not been a Release of any Hazardous Substances at any properties operated by the Company; (iii) to the knowledge of the Company, the Company is not liable for
any off-site Releases of Hazardous Substances; (iv) the Company has all Permits, licenses and other authorizations required for its current operations under any Environmental Law and is in compliance with all such Permits, licenses and
authorizations; (v) the Company has not received any notice, demand, letter, claim or request for information alleging that the Company, any property operated by the Company or any of its current operations is in violation of, or liable under,
any Environmental Law; (vi) the Company (A) has not entered into or agreed to any consent decree or order and is not subject to any judgment, decree or judicial order relating to compliance with Environmental Laws, any Permits,

  

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licenses or authorizations under Environmental Laws or the investigation, remediation or removal of Hazardous Substances and, to the knowledge of the Company, no investigation, litigation or
other proceeding is pending or threatened with respect thereto and (B) is not an indemnitor in connection with any claim asserted in writing by any third-party indemnitee for any liability under any Environmental Law or relating to any
Hazardous Substances and (vii) the execution and delivery by the Company of this Agreement and the Registration Rights Agreement, and the performance of its obligations hereunder, does not require any action with regard to, any property
operated by the Company, pursuant to any so-called property transfer law, including the New Jersey Industrial Site Recovery Act. 
 SECTION 3.17 Contracts; Debt Instruments. The Company is not a party to or bound by any contract: 
 (i) which contains any non-compete provisions with respect to any line of business or any or geographic area with respect to the Company or any of the Company’s current or planned affiliates, or restricts the conduct of any line of
business by the Company or any of the Company’s current or planned affiliates or any geographic area in which the Company or any of the Company’s current or planned affiliates may conduct business, in each case in any material respect,

 (ii) which would prohibit or materially delay the consummation of the Transactions, 
 (iii) which, as of the date hereof, is a “material contract” (as such term is defined in Item 601(b)(10) of
Regulation S-K of the SEC) and has not been filed with the SEC, or 
 (iv) which, as of the date hereof,

 (A) involves aggregate annual expenditures or other payments in excess of $500,000, except (1) those
contracts cancelable (without material penalty, cost or other liability) within ninety (90) days and (2) purchase orders for inventory entered into in the ordinary course of business consistent with past practice, 
 (B) contain minimum purchase conditions or requirements or other terms that restrict or limit the purchasing relationships of
the Company, except (1) those contracts cancelable (without material penalty, cost or other liability) within ninety (90) days and (2) purchase orders for inventory entered into in the ordinary course of business consistent with past
practice, or 
 (C) concerns any material Company Intellectual Property. 
 Each contract of the type described above in this Section 3.17, whether or not filed as an exhibit to any SEC Report or
otherwise set forth in Section 3.17 of the Disclosure Schedule, is referred to herein as a “Company Material Contract.” Each Company Material Contract is valid and binding on the Company and, to the Company’s
knowledge, each other party thereto, and in full force and effect, and the Company has in all material respects performed all obligations required to be performed by it to the date hereof under each Company Material Contract and, to the
Company’s knowledge, each other party to each Company Material Contract has in all material respects performed all obligations required to be performed by it under such Company Material Contract, except as would not, individually or in the
aggregate, reasonably be expected to (1) prevent or materially delay consummation of the Transactions, (2) otherwise prevent or materially delay performance by the Company of any of its material obligations under this Agreement or the
Registration Rights Agreement or (3) result in a Material Adverse Effect.

  

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The Company does not know of, nor has it received notice of, any violation or default under (or any condition which with the passage of time or the giving of notice would cause such a violation
of or default under) any Company Material Contract or any other contract to which it is a party or by which it or any of its properties or assets is bound, except for violations or defaults that would not, individually or in the aggregate,
reasonably be expected to (1) prevent or materially delay consummation of the Transactions, (2) otherwise prevent or materially delay performance by the Company of any of its material obligations under this Agreement or the Registration
Rights Agreement or (3) result in a Material Adverse Effect. 
 SECTION 3.18 Related Party Transactions. Other than
as disclosed in the SEC Reports or otherwise set forth on Section 3.18 of the Disclosure Schedule, the Company is not a party to any agreement or arrangement with or for the benefit of any person who, to the Company’s knowledge, is a
holder of 5% or more of the outstanding equity securities of the Company or any officer, director, partner or affiliate of any such person. 
 SECTION 3.19 Insurance. The Company maintains, with reputable insurers or through self-insurance, insurance in such amounts, including deductible arrangements, and of such a character as is
customary for companies engaged in the same or similar business. All policies of title, fire, liability, casualty, business interruption, workers’ compensation and other forms of insurance including directors and officers insurance, held by the
Company as of the date hereof, are in full force and effect in accordance with their terms. The Company is not in default under any provisions of any such policy of insurance and the Company has not received notice of cancellation of any such
insurance. 
 SECTION 3.20 Controls. The Company has established and maintains, to the extent required by Rule 13a-15 of
the Exchange Act, (i) a system of internal control over financial reporting that is sufficient to ensure that (A) transactions are executed in accordance with management’s general or specific authorizations, (B) transactions are
recorded as necessary to permit preparation of financial statements in accordance with GAAP and to maintain asset accountability, (C) access to assets is permitted only in accordance with management’s general or specific authorization,
(D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences and (E) records are maintained that in reasonable detail accurately and
fairly reflect the transactions and dispositions of the Company’s assets and (ii) a system of disclosure controls and procedures (as defined in the Exchange Act) that is sufficient to ensure that all material information required to be
disclosed by the Company in the SEC Reports is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the SEC, including controls and procedures designed to ensure that information required to be
disclosed by the Company in the SEC Reports is accumulated and communicated to the Company’s management, as appropriate to allow timely decisions regarding required disclosure. The Company has disclosed, and will continue to disclose, based on
its most recent evaluation, to the Company’s external auditors, the audit committee of the Board and to the Investor (i) any potential significant deficiencies and potential material weaknesses in the design or operation of its systems of
internal control over financial reporting which are reasonably expected to adversely affect in any material respect the Company’s ability to record, process, summarize and report financial information and (ii) any fraud or allegation of
fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls over financial reporting. There have been no changes in the Company’s disclosure controls and
procedures or internal control over financial reporting. The Company is in compliance with all applicable provisions of Section 404 of the Sarbanes-Oxley Act of 2002 (“SOX”). 
 SECTION 3.21 Private Offering. None of the Company or anyone acting on its behalf has offered or sold or will offer or sell any
securities, or has taken or will take any other action that would reasonably be expected to subject the offer, issuance or sale of the Shares, as contemplated hereby, to the registration provisions of the Securities Act. 
  

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 SECTION 3.22 Vote Required. No vote of the holders of any class or series of capital
stock or other Equity Interests of the Company is necessary to approve the issuance of the Shares. 
 SECTION 3.23
Section 203 of the DGCL; Takeover Statute. The Board has taken all actions necessary or advisable to ensure that Section 203 of the DGCL does not apply to any of the Transactions (including the purchase of the Shares hereunder). The
execution, delivery and performance of this Agreement and the Registration Rights Agreement will not cause to be applicable to the Company any “fair price,” “moratorium,” “control share acquisition” or other similar
antitakeover statute or regulation enacted under state or federal Laws. 
 SECTION 3.24 Brokers. No broker, finder or
investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the Transactions based upon arrangements made by or on behalf of the Company. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF THE
INVESTOR 
 As an inducement to the Company to enter into this Agreement, the Investor hereby represents and warrants to the
Company that: 
 SECTION 4.01 Organization. The Investor is a corporation duly organized and validly existing under the
Laws of the Kingdom of Norway. 
 SECTION 4.02 Authority. The Investor has all necessary power and authority to execute
and deliver this Agreement and the Registration Rights Agreement, to perform its obligations hereunder and thereunder and to consummate the Transactions. The Investor’s execution and delivery of this Agreement and the Registration Rights
Agreement and the consummation by it of the Transactions have been duly and validly authorized by all necessary corporate action, and no other corporate proceedings on the part of the Investor are necessary to authorize this Agreement or the
Registration Rights Agreement or to consummate the Transactions. This Agreement and the Registration Rights Agreement have been duly and validly executed and delivered by the Investor and, assuming due authorization, execution and delivery by the
Company, this Agreement and the Registration Rights Agreement constitute a legal, valid and binding obligation of the Investor enforceable against it in accordance with their respective terms. 
 SECTION 4.03 No Conflict; Required Filings and Consents. 
 (a) The execution and delivery by the Investor of this Agreement and the Registration Rights Agreement do not, and the performance of its
obligations hereunder and thereunder will not, (i) conflict with or violate its organizational documents, (ii) assuming that all consents, approvals, authorizations and other actions described in subsection (b) have been obtained and
all filings and obligations described in subsection (b) have been made, conflict with or violate any Law applicable to it or by which any of its properties or assets is bound or affected or (iii) result in any breach of, or constitute a
default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien or other encumbrance on any
of its properties or assets pursuant to, any note, bond,

  

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mortgage, indenture, contract, agreement, lease, license, permit, franchise or other instrument or obligation to which it is a party or by which it or any of its properties or assets is bound or
affected, except, with respect to clauses (ii) and (iii), for any such conflicts, violations, breaches, defaults or other occurrences which would not, individually or in the aggregate, reasonably be expected to (1) prevent or materially
delay consummation of the Transactions, (2) otherwise prevent or materially delay its performance of any of its material obligations under this Agreement or the Registration Rights Agreement or (3) have a material adverse effect on the
Investor. 
 (b) The execution and delivery by the Investor of this Agreement and the Registration Rights Agreement do not, and
the performance of its obligations hereunder and thereunder will not, require any consent, approval, authorization or permit of, or filing with, or notification to, any Governmental Authority, except (i) for (A) applicable requirements, if
any, of the Exchange Act and Blue Sky Laws, and (B) any filings required under the rules and regulations of Nasdaq and (ii) where the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or
notifications, would not, individually or in the aggregate, reasonably be expected to (1) prevent or materially delay consummation of the Transactions, (2) otherwise prevent or materially delay its performance of any of its material
obligations under this Agreement or the Registration Rights Agreement or (3) have a material adverse effect on the Investor. 
 SECTION 4.04 Investment Purpose. The Investor is acquiring the Shares for its own account solely for the purpose of investment and not with a view to, or for resale in connection with, any distribution of the Shares or any interest
therein. 
 SECTION 4.05 Status of Shares; Limitations on Transfer and Other Restrictions. The Investor acknowledges and
understands that (i) the Shares have not been and will not be registered under the Securities Act or any under any state securities laws (other than in accordance with the Registration Rights Agreement) and are being offered and sold in
reliance upon federal and state exemptions for transactions not involving any public offering, (ii) that such exemption depends in part upon, and such Shares are being sold in reliance on, the representations and warranties set forth in this
Article IV, (iii) it must bear the economic risk of its investment in the Shares for an indefinite period of time because the Shares must be held indefinitely unless subsequently registered under the Securities Act and applicable state
securities laws or unless an exemption from such registration is available and (iv) a restrictive legend shall be placed on all certificates evidencing the Shares. 
 SECTION 4.06 Sophistication and Financial Condition of the Investor. The Investor is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act,
a sophisticated investor and, by virtue of its business or financial experience, is capable of evaluating the merits and risks of the investment in the Shares. The Investor has been provided an opportunity to ask questions of and receive answers
from representatives of the Company concerning the terms and conditions of this Agreement and the purchase of the Shares contemplated hereby. 
 SECTION 4.07 Available Funds. The Investor has sufficient funds in its possession to permit it to acquire and pay for the Shares to be purchased by it and to perform its obligations under this
Agreement. 
 SECTION 4.08 Ownership of Company Securities. As of the date of this Agreement, the Investor and its
affiliates, taken together, beneficially own 7,298,160 shares of Company Common Stock and 3,655,595 Class B Warrants. 
  

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 SECTION 4.09 Brokers. No broker, finder or investment banker is entitled to any
brokerage, finder’s or other fee or commission in connection with the Transactions based upon arrangements made by or on behalf of the Investor. 
 ARTICLE V 
 CONDUCT OF BUSINESS PENDING THE CLOSING 
 SECTION 5.01 Conduct of Business by the Company Pending the Closing. The Company agrees that, between the date of this Agreement and
the Closing, except as set forth in Section 5.01 of the Disclosure Schedule or as contemplated by any other provision of this Agreement, except as provided below, the business of the Company shall be conducted in, and the Company shall
not take any action except in, the ordinary course of business consistent with past practice; and the Company shall use its reasonable efforts to preserve substantially intact the business organization of the Company, to keep available the services
of the current officers, employees and consultants of the Company and to preserve the current relationships of the Company with customers, suppliers and other persons with which the Company has significant business relations. Except as contemplated
by this Agreement and Section 5.01 of the Disclosure Schedule, the Company shall not, between the date of this Agreement and the Closing, directly or indirectly, do, or propose to do, any of the following without the prior written
consent of the Investor: 
 (a) amend or otherwise change its Certificate of Incorporation or Bylaws; 

(b) (1) issue, sell, pledge, dispose of, grant, encumber, or authorize the issuance, sale, pledge, disposition, grant
or encumbrance of, any shares of any class of capital stock or other Equity Interests in or of the Company, or any options, warrants, convertible securities or other rights of any kind to acquire any shares of such capital stock or other Equity
Interests, or any other ownership interest (including any phantom interest or other interest represented by contract), of the Company (except for the issuance of shares of Company Common Stock issuable pursuant to the terms of the Company Stock
Option Plan, as in effect as of the date of this Agreement) or (2) sell, pledge, dispose of, transfer, lease, license, guarantee or encumber, or authorize the sale, pledge, disposition, transfer, lease, license, guarantee or encumbrance of, any
material property or assets of the Company; 
 (c) reclassify, combine, split, subdivide or redeem, or purchase
or otherwise acquire, directly or indirectly, any of its capital stock or other Equity Interests; 
 (d)
(1) acquire (including by merger, consolidation, or acquisition of stock or assets or any other business combination) any corporation, partnership, other business organization or any division thereof or (2) incur any indebtedness for
borrowed money or issue any debt securities or assume, guarantee or endorse, or otherwise as an accommodation become responsible for, the obligations of any person, or make any loans or advances, or grant any security interest in any of its assets
except in the ordinary course of business; 
 (e) adopt, or propose to adopt, or maintain any shareholders’
rights plan, “poison pill” or other similar plan or agreement, unless the Investor is exempted from the provisions of such shareholders’ rights plan, “poison pill” or other similar plan or agreement; 
  

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 (f) to the extent required or applicable, take any action to exempt or make
not subject to (1) the provisions of Section 203 of the DGCL or (2) any other state takeover Law or state Law that purports to limit or restrict business combinations or the ability to acquire or vote shares, any person (other than
the Investor or any of its affiliates) or any action taken thereby, which person or action would have otherwise been subject to the restrictive provisions thereof and not exempt therefrom; or 
 (g) announce an intention, enter into any agreement or otherwise make a commitment, to do any of the foregoing. 

ARTICLE VI 
 ADDITIONAL AGREEMENTS 
 SECTION 6.01 Access to Information. 
 (a) From the date hereof to the Closing and in compliance with applicable Laws, the Company shall, and shall cause the officers, directors,
employees, auditors and agents of the Company to, afford the officers, employees, accountants, counsel and other agents of the Investor reasonable access at all reasonable times to the officers, employees, agents, properties, offices and other
facilities, books and records of the Company, and shall furnish the Investor with such financial, operating and other data and information as the Investor, through its officers, employees or agents, may reasonably request. 
 (b) No investigation pursuant to this Section 6.01 shall affect any representation or warranty in this Agreement of any party
hereto or any condition to the obligations of the parties hereto. 
 SECTION 6.02 Further Action; Reasonable Best Efforts;
Consents; Filings. 
 (a) Upon the terms and subject to the conditions hereof, each of the parties hereto shall use its
reasonable best efforts to (i) take, or cause to be taken, all appropriate action, and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws to consummate and make effective the Transactions,
(ii) obtain from any Governmental Authorities any consents, licenses, Permits, waivers, approvals, authorizations or orders required to be obtained or made by the Investor or the Company, or to avoid any action or proceeding by any Governmental
Authority, in connection with the authorization, execution and delivery of this Agreement and the Registration Rights Agreement and the consummation of the Transactions and (iii) make promptly its respective filings, and thereafter make any
other submissions required, in connection with the Transactions, under (y) the Exchange Act, and any other applicable federal or state securities Laws and (z) any other applicable Law; provided, however, that the Investor and
the Company shall cooperate with each other in connection with the making of all such filings, including providing copies of all such documents to the non-filing party and its advisors prior to filing and, if requested, to accept all reasonable
additions, deletions or changes suggested in connection therewith. 
 (b) The parties hereto shall cooperate and assist one
another in connection with all actions to be taken pursuant to Section 6.02(a), including the preparation and making of the filings referred to therein and, if requested, amending or furnishing additional information thereunder,
including, subject to applicable Law, providing copies of all related documents to the non-filing party and their advisors prior to filing, and to the extent practicable neither of the parties will file any such document or have any communication
with any Governmental Authority without prior consultation with the other party. Each party shall keep the other party apprised of the content and status of any communications with, and communications from, any Governmental Authority with respect to
the Transactions. To the extent practicable and permitted by a Governmental Authority, each party hereto shall permit representatives of the other party to participate in meetings (whether by telephone or in person) with such Governmental Authority.

  

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 (c) Each of the parties hereto agrees to cooperate and use its reasonable best efforts to
defend through litigation on the merits any Action, including any administrative or judicial Action, asserted by any party in order to avoid the entry of, or to have vacated, lifted, reversed, terminated or overturned any decree, judgment,
injunction or other order (whether temporary, preliminary or permanent) that in whole or in part restricts, prevents or prohibits consummation of the Transactions, including by vigorously pursuing all available avenues of administrative and judicial
appeal. 
 (d) The Company and the Investor shall give any notices to third parties, and use all reasonable efforts to obtain
any third party consents, (i) necessary, proper or advisable to consummate the Transactions or (ii) required to be disclosed in the Disclosure Schedule. In the event that either party shall fail to obtain any third party consent described
in the first sentence of this Section 6.02(d), such party shall use all reasonable efforts, and shall take any such actions reasonably requested by the other party hereto, to minimize any adverse effect upon the Company and the Investor,
and their respective businesses resulting, or which would reasonably be expected to result after the Closing from the failure to obtain such consent. 
 (e) From the date of this Agreement until the Closing, the Company shall promptly notify the Investor in writing of any pending or, to the knowledge of the Company, threatened Action by any Governmental
Authority or any other person (i) challenging or seeking material damages in connection with the Transactions or (ii) seeking to restrain or prohibit the consummation of the Transactions, which in either case would, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect prior to or after the Closing. 
 SECTION 6.03 Public
Announcements. The Investor and the Company agree that no public release or announcement concerning the Transactions shall be issued by either party without the prior consent of the other party (which consent shall not be unreasonably withheld),
except as such release or announcement may be required by Law or the rules or regulations of Nasdaq, in which case the party required to make the release or announcement shall use its best efforts to allow the other party reasonable time to comment
on such release or announcement in advance of such issuance. 
 SECTION 6.04 Cooperation. The Company and the Investor
shall coordinate and cooperate in connection with (i) determining whether any action by or in respect of, or filing with, any Governmental Authority is required, or any actions, consents, approvals or waivers are required to be obtained from
parties to any Company Material Contracts, in connection with the consummation of the Transactions and (ii) seeking any such actions, consents, approvals or waivers or making any such filings, furnishing information required in connection
therewith and timely seeking to obtain any such actions, consents, approvals or waivers. 
 SECTION 6.05 Certain Notices.
From and after the date of this Agreement until the Closing, each party shall promptly notify the other party of (i) the occurrence, or non-occurrence, of any event or any breach or misrepresentation that would reasonably be expected to cause
any condition to the obligations of such party to effect the Transactions not to be satisfied or (ii) the failure of such party to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it pursuant to
this Agreement or the Registration Rights Agreement that would reasonably be expected to result in any condition to the obligations of such party to effect the Transactions not to be satisfied; provided, however, that the delivery of
any notice pursuant to this Section 6.05 shall not cure any breach of any representation or warranty requiring disclosure of such matter prior to the date of this Agreement or otherwise limit or affect the remedies available hereunder to
the party receiving such notice. 
  

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 SECTION 6.06 FIRPTA. For so long as the Investor owns an Equity Interest in the
Company, the Company agrees to use its reasonable best efforts to produce and deliver to the Investor, upon the Investor’s written request, certification of the Company’s status as a non-U.S. real property interest (as defined in
Section 897(c) of the Code) in the form and with respect to the applicable period as specified in Treasury Regulation Section 1.897-2(h), or any successor provision. This covenant shall survive the Closing. 
 ARTICLE VII 
 CONDITIONS 
 SECTION 7.01 Conditions to the Obligations of Each Party. The obligations of each party to
effect the Transactions shall be subject to the satisfaction or waiver, at or prior to the Closing, of the following conditions: 
 (a) No Order. No Governmental Authority in the United States shall have enacted, issued, promulgated, enforced or entered any Law (whether temporary, preliminary or permanent) which is then in
effect and has the effect of making the Transactions illegal or otherwise restricting, preventing or prohibiting consummation of the Transactions; and 
 (b) Court Proceedings. No Action shall be pending or threatened before any Governmental Authority wherein an unfavorable injunction, judgment, order, decree, ruling or charge would reasonably be
expected to (A) (1) prevent consummation of the Transactions, (2) cause the Transactions to be rescinded following consummation thereof or (3) materially adversely affect the rights and powers of the Investor to own the Shares
and exercise all of its rights as a stockholder of the Company, and, in each case, no such injunction, judgment, order, decree, ruling or charge shall be in effect or (B) cause or require the payment by the Company (including as the result of
the acceleration, or other obligation to repay prior to scheduled maturity, any indebtedness) or, to the extent such Action relates to the Company or the Transactions, the Investor, of damages, fines or other penalties or awards that would,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; provided, however, that, in each case, any such threatened Action would reasonably be expected to be adversely determined against the Company,
the Investor or their respective affiliates. 
 SECTION 7.02 Conditions to the Obligations of the Investor. The
obligations of the Investor to consummate the Transactions shall be subject to the satisfaction or waiver of the following additional conditions: 
 (a) Public Offering. The Public Offering shall have been completed; 
 (b) Representations and Warranties. Each of the representations and warranties of the Company contained in this Agreement that are qualified by materiality or Material Adverse Effect shall be true and correct as of the date hereof
and as of the Closing as though made on and as of the Closing (except that those representations and warranties which address matters only as of a particular date need only be true and correct as of such date), and all representations and warranties
which are not so qualified shall be true and correct in all material respects (except that those representations and warranties which address matters only as of a particular date need only remain true and correct in all material respects as of such
date); 
  

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 (c) Agreements and Covenants. The Company shall have performed, in
all material respects, all obligations and complied with, in all material respects, its agreements and covenants to be performed or complied with by it under this Agreement on or prior to the Closing; and 
 (d) Material Adverse Effect. No Material Adverse Effect shall have occurred since the date of this Agreement.

 SECTION 7.03 Conditions to the Obligations of the Company. The obligations of the Company to consummate the
Transactions shall be subject to the satisfaction or waiver of the following additional conditions: 
 (a)
Representations and Warranties. Each of the representations and warranties of the Investor contained in this Agreement that are qualified by materiality or material adverse effect shall be true and correct as of the date hereof and as of the
Closing as though made on and as of the Closing (except that those representations and warranties which address matters only as of a particular date need only be true and correct as of such date), and all representations and warranties which are not
so qualified shall be true and correct in all material respects (except that those representations and warranties which address matters only as of a particular date need only remain true and correct in all material respects as of such date); and

 (b) Agreements and Covenants. The Investor shall have performed, in all material respects, all
obligations or complied with, in all material respects, all agreements and covenants to be performed or complied with by it under this Agreement on or prior to the Closing. 
 ARTICLE VIII 
 TERMINATION, AMENDMENT AND WAIVER

 SECTION 8.01 Termination. This Agreement may be terminated (the date of any such termination, the
“Termination Date”): 
 (a) By mutual written consent of the Investor and the Company;

 (b) By the Investor if the Public Offering has not been completed by October 31, 2009; or 
 (c) By the Investor, if, since the date of this Agreement, there shall have been any event, development or change of
circumstance that constitutes, has had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and such Material Adverse Effect is not cured within twenty (20) days after the Company receives written
notice thereof from the Investor. 
 SECTION 8.02 Effect of Termination. In the event of the termination of this
Agreement pursuant to Section 8.01, this Agreement shall forthwith become void, and there shall be no liability or obligation on the part of any party hereto, except (i) with respect to Article VI and Article IX, which
shall survive any such termination and remain in full force and effect and (ii) with respect to any liabilities or damages incurred or suffered by a party as a result of the material breach by the other party of any of its representations,
warranties, covenants or other agreements set forth in this Agreement or the Registration Rights Agreement. 
  

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 SECTION 8.03 Fees and Expenses. All Expenses incurred in connection with this
Agreement and the Transactions shall be paid by the party incurring such Expenses, whether or not the Transactions are consummated; provided, however that the Company shall pay all SEC and other regulatory filing fees incurred.

 SECTION 8.04 Amendment. This Agreement may be amended by the parties hereto at any time prior to the Closing. This
Agreement may not be amended except by an instrument in writing signed by the parties hereto. 
 SECTION 8.05 Waiver. At
any time prior to the Closing, either party hereto may (i) extend the time for the performance of any obligation or other act of the other party hereto, (ii) waive any inaccuracy in the representations and warranties contained herein or in
any document delivered pursuant hereto and (iii) waive compliance with any agreement or condition contained herein. Any such extension or waiver shall be valid if set forth in an instrument in writing signed by the party to be bound thereby.

 ARTICLE IX 
 GENERAL PROVISIONS 
 SECTION 9.01 Survival of Representations and
Warranties; Indemnification. 
 (a) All representations and warranties contained in this Agreement shall be deemed made at
the Closing as if made at such time and shall survive for twelve (12) months after having been made or deemed made, except that (i) with respect to claims asserted pursuant to this Section 9.01 before the expiration of the
applicable representation or warranty, such claims shall survive until the date they are finally liquidated or otherwise resolved, (ii) Section 3.15 shall survive until 120 days after the expiration of the applicable statute of
limitations for the Tax liabilities in question and (iii) Sections 3.01, 3.02, 3.03, 3.04, 3.05(a)(i), 3.16, 4.01, 4.02 and 4.03(a)(i) shall survive indefinitely. A claim shall be
made or commenced hereunder by the Indemnified Party delivering to the Indemnifying Party a written notice specifying in reasonable detail the nature of the claim, the amount claimed (if known or reasonably estimable), and the factual basis for the
claim. 
 (b) The Company agrees to indemnify and hold harmless the Investor and its officers, directors, employees, duly
authorized agents and affiliates from and against all losses, claims, damages, diminution in value of the Shares, expenses (including reasonable counsel fees and disbursements) or liabilities (“Losses”) that are related to or arise
out of (1) any breach by the Company of any of its representations or warranties in this Agreement or (2) failure to perform any of the covenants or agreements made by the Company in this Agreement. The term “Losses” as used in
this Section 9.01 is not limited to matters asserted by third parties against an Indemnified Party, but includes Losses incurred or sustained by an Indemnified Party in the absence of third party claims, and shall be net of any Tax
benefit available to the Indemnified Party. 
 (c) The Investor agrees to indemnify and hold harmless the Company and its
officers, directors, employees, duly authorized agents and affiliates from and against all Losses that are related to or arise out of (1) any breach by the Investor of any of its representations or warranties in this Agreement or
(2) failure to perform any of the covenants or agreements made by the Investor in this Agreement. 
  

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 (d) Notwithstanding anything to the contrary contained in this Agreement: (i) an
Indemnifying Party shall not be liable for any claim for indemnification pursuant to this Section 9.01 with respect to any breach of any representation or warranty, unless and until the aggregate amount of indemnifiable Losses which may
be recovered from the Indemnifying Party equals or exceeds $250,000, after which the Indemnifying Party shall be liable for the entire aggregate amount of any such indemnifiable Losses; (ii) no Losses may be claimed under
Section 9.01 by any Indemnified Party or shall be included in calculating the aggregate Losses set forth in clause (i) above other than Losses in excess of $100,000 resulting from any single claim or aggregated claims arising out of
the same facts, events or circumstances; (iii) with respect to any breach of any representation or warranty, the maximum amount of indemnifiable Losses which may be recovered from an Indemnifying Party arising out of or resulting from the
causes set forth in Section 9.01 shall be an amount equal to the Purchase Price and (iv) neither party hereto shall have any liability under any provision of this Agreement or the Registration Rights Agreement for any punitive
damages. 
 (e) A party claiming indemnification under this Agreement (an “Indemnified Party”) with respect to
any claims asserted against the Indemnified Party by a third party (“Third Party Claim”) that would give rise to a right of indemnification under this Agreement shall promptly (i) notify the party from whom indemnification is
sought (the “Indemnifying Party”) of the Third Party Claim and (ii) transmit to the Indemnifying Party a written notice (“Claim Notice”) describing in reasonable detail the nature of the Third Party Claim, a
copy of all papers served with respect to such claim (if any) and the basis of the Indemnified Party’s request for indemnification under this Agreement. Failure to provide such Claim Notice shall not affect the right of the Indemnified
Party’s indemnification hereunder, except to the extent the Indemnifying Party demonstrates actual and material prejudice as a result of such failure. The Indemnifying Party shall have the right to defend the Indemnified Party against such
Third Party Claim provided that such Indemnifying Party has acknowledged in writing its obligation to fully indemnify the Indemnified Party with respect to such Third Party Claim pursuant to this Section 9.01. 
 (f) If the Indemnifying Party notifies the Indemnified Party that the Indemnifying Party elects to assume the defense of the Third Party
Claim, then the Indemnifying Party shall have the right to defend such Third Party Claim with counsel selected by the Indemnifying Party, who is reasonably acceptable to the Indemnified Party, by all appropriate proceedings, which proceedings shall
be prosecuted reasonably diligently by the Indemnifying Party to a final conclusion or settled at the discretion of the Indemnifying Party in accordance with this Section 9.01(f). The Indemnifying Party shall have full control of such
defense and proceedings, including any compromise or settlement thereof, provided, however, that the Indemnifying Party shall not consent to the entry of a judgment or enter into any settlement with respect to the matter (i) which
does not contain a complete release of the Indemnified Party, contains a finding of responsibility or liability on the part of the Indemnified Party or the violation of any applicable legal requirement, provides any material sanction or material
restriction upon the conduct of any business by the Indemnified Party, or provides for any relief other than monetary damages which are paid in full by the Indemnifying Party or (ii) without the prior written consent of the Indemnified Party,
which consent shall not be unreasonably conditioned, withheld or delayed. If requested by the Indemnifying Party, the Indemnified Party agrees, at the sole cost and expense of the Indemnifying Party, to cooperate with the Indemnifying Party and its
counsel in contesting any Third Party Claim which the Indemnifying Party elects to contest, including the making of any related counterclaim against the person asserting the Third Party Claim or any cross-complaint against any person. The
Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant to this Section 9.01, and the Indemnified Party shall bear its own costs and expenses
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such participation; provided, however, if in the opinion of counsel of the Indemnified Party there is a reasonable likelihood of a conflict of interest between the Indemnifying
Party and the Indemnified Party, the Indemnifying Party shall bear the reasonable costs and expenses of one counsel to the Indemnified Party in connection with such defense. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled
to assume the defense of any Third Party Claim if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party that the Indemnified Party reasonably determines, after
conferring with its outside counsel, cannot be separated from any related claim for money damages. 
 (g) If the Indemnifying
Party fails to notify the Indemnified Party within the thirty (30) days after receipt of any Claim Notice that the Indemnifying Party elects to defend the Indemnified Party pursuant to Section 9.01(f), or if the Indemnifying Party
elects to defend the Indemnified Party pursuant to Section 9.01(f) but fails to reasonably diligently defend or settle the Third Party Claim, then the Indemnified Party shall have the right to defend the Third Party Claim by all
appropriate proceedings, which proceedings shall be promptly and vigorously defended by the Indemnified Party to a final conclusion or settled (with the reasonable costs and expenses of such defense borne by the Indemnifying Party). The Indemnified
Party shall have full control of such defense and proceedings; provided, however, that the Indemnified Party may not enter into any compromise or settlement of such Third Party Claim if indemnification is to be sought hereunder,
without the Indemnifying Party’s consent, which shall not be unreasonably withheld or delayed. The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the Indemnified Party pursuant to this
Section 9.01(g), and the Indemnifying Party shall bear its own costs and expenses with respect to such participation. 
 (h) In the event any Indemnified Party should have a claim against any Indemnifying Party hereunder which does not involve a Third Party Claim, the Indemnified Party shall promptly transmit to the Indemnifying Party a written notice (the
“Indemnity Notice”) describing in reasonable detail the nature of the claim, the Indemnified Party’s best estimate of the amount of Losses attributable to such claim and the basis of the Indemnified Party’s request for
indemnification under this Agreement. If the Indemnifying Party does not notify the Indemnified Party within thirty (30) days from its receipt of the Indemnity Notice that the Indemnifying Party disputes such claim (the “Dispute
Notice”), the Indemnifying Party shall be deemed to have accepted and agreed with such claim. If the Indemnifying Party has disputed such claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a
resolution to such dispute. If the Indemnifying Party and the Indemnified Party cannot resolve such dispute in thirty (30) days after delivery of the Dispute Notice, such dispute shall be resolved by litigation in an appropriate court of
competent jurisdiction. 
 (i) The parties agree to treat all indemnification payments made under this Section 9.01
or otherwise under this Agreement as an adjustment to the Purchase Price or as capital contributions for Tax purposes and that such treatment shall govern for purposes hereof except to the extent that the Laws of a particular jurisdiction provide
otherwise, in which case such payments shall be made in an amount sufficient to indemnify the relevant party on an after-Tax basis. 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 28 

 SECTION 9.02 Notices. All notices, requests, claims, demands and other communications
hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by telecopy, by a recognized overnight courier service or by registered or certified mail (postage prepaid, return
receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 9.02): 
 if to the Investor: 
 Norsk Hydro Produksjon AS 
 Drammensveien 260 
 N-0240 Oslo 
 Norway 

			
	Facsimile:	 	+ 47 22 53 75 82
	Attention:	 	Rolf Torgeir Aase

 with a copy to: 
 Shearman & Sterling LLP 
 Broadgate West 
 9 Appold Street 
 London EC2A 2AP 
 United Kingdom 

			
	Facsimile:	 	+44 (0) 207 655-5216
	Attention:	 	Sean J. Skiffington

 if to the Company: 
 Ascent Solar Technologies, Inc. 
 12300 N. Grant St. 
 Thornton, CO 80241-3120 
 United States 

			
	Facsimile:	 	+1 (720) 872-5077
	Attention:	 	Farhad Moghadam, President and Chief Executive Officer

 with a copy to: 
 Holland & Knight LLP 
 2300 U.S. Bancorp Tower 
 111 S.W. Fifth Avenue 
 Portland, Oregon 97204 
 United States 

			
	Facsimile:	 	+1 (503) 241-8014
	Attention:	 	Mark A. von Bergen
		 	David C. Wang

 SECTION 9.03 Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the
Transactions is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the fullest extent possible. 
 SECTION 9.04 Entire Agreement; Assignment. This Agreement and the Registration Rights Agreement constitute the entire agreement
between the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and undertakings, both written and oral, between the parties with respect to the subject matter hereof and thereof. This Agreement shall

  

 SECURITIES PURCHASE AGREEMENT 
 Page 29 

 
not be assigned by operation of law or otherwise; provided, however, that the Investor may assign its right, title and interest under this Agreement to any of its affiliates;
provided further, however, that no such assignment shall relieve the Investor of any of its obligations hereunder. 
 SECTION 9.05 Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each party hereto, and nothing in this Agreement, express or implied, is intended to or
shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 SECTION 9.06 Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be
entitled to specific performance of the terms hereof, in addition to any other remedy at law or in equity. 
 SECTION 9.07
Governing Law. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined exclusively in any
Delaware state or federal court, in each case sitting in the City of Wilmington, New Castle County. The parties hereto hereby (a) submit to the exclusive jurisdiction of any Delaware state or federal court, in each case sitting in the City of
Wilmington, New Castle County, for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto and (b) irrevocably waive, and agree not to assert by way of motion, defense or otherwise, in any such Action,
any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is
improper or that this Agreement or the Transactions may not be enforced in or by any of the above-named courts. 
 SECTION 9.08
Waiver of Jury Trial. Each of the parties hereto hereby waives to the fullest extent permitted by applicable Law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in
connection with this Agreement or the Transactions. Each of the parties hereto (a) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of
litigation, seek to enforce that foregoing waiver and (b) acknowledges that it and the other party hereto have been induced to enter into this Agreement and the Transactions, as applicable, by, among other things, the mutual waivers and
certifications in this Section 9.08. 
 SECTION 9.09 Attorneys’ Fees. If any legal action is brought by
reason of any breach of any covenant, condition or agreement of the parties in this Agreement or the Registration Rights Agreement, the prevailing party shall be entitled to recover from the other party to the action all costs and expenses of suit,
including attorneys’ fees. 
 SECTION 9.10 Counterparts. This Agreement may be executed and delivered (including by
facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same
agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 SECURITIES PURCHASE AGREEMENT 
 Page 30 

 IN WITNESS WHEREOF, the Investor and the Company have caused this Agreement to be executed
as of the date first written above by their respective officers thereunto duly authorized. 
  

			
	NORSK HYDRO PRODUKSJON AS
		
	By:	 	/s/    EINAR
RIDDERVOLD        
	Name:	 	Einar Riddervold
	Title:	 	Authorized Representative / Director
	
	ASCENT SOLAR TECHNOLOGIES, INC.
		
	By:	 	/s/    FARHAD
MOGHADAM        
	Name:	 	Farhad Moghadam
	Title:	 	President and Chief Executive Officer

  

 SECURITIES PURCHASE AGREEMENT 
 Page 31 

 EXHIBIT A 
 FORM OF REGISTRATION RIGHTS AGREEMENTRegistration Rights Agreement

 Exhibit 10.2 
 EXHIBIT A 
 REGISTRATION RIGHTS AGREEMENT

 Dated as of October 6, 2009 
 between 
 Ascent Solar Technologies, Inc. 
 and 
 Norsk Hydro
Produksjon AS 

 REGISTRATION RIGHTS AGREEMENT 
 REGISTRATION RIGHTS AGREEMENT, dated as of October 6, 2009 (this “Agreement”), between NORSK HYDRO PRODUKSJON AS,
a company organized under the laws of the Kingdom of Norway (“Norsk Hydro,” and together with its permitted assignees, “Selling Shareholder”), and ASCENT SOLAR TECHNOLOGIES, INC., a corporation organized under the
laws of the State of Delaware (“ASTI”). 
 RECITALS 
 WHEREAS, on September 29, 2009, ASTI and Norsk Hydro entered into a Securities Purchase Agreement (the “Securities Purchase
Agreement”; capitalized terms used but not defined in this Agreement shall have the meanings ascribed to them in the Securities Purchase Agreement), pursuant to which, upon the terms and subject to the conditions thereof, Norsk Hydro will
acquire, on the date hereof, 769,230 shares of common stock, par value $0.0001 per share (“Common Shares”), of ASTI (the “ASTI Shares”); 
 WHEREAS, in connection with the Securities Purchase Agreement, ASTI has agreed to provide Norsk Hydro certain registration rights with respect to its ASTI Shares; and 
 WHEREAS, certain terms used in this Agreement are defined in Section 1. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the
premises and the mutual agreements and covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Definitions. 
 (a) For purposes of this Agreement: 
 “affiliate” of a
specified person means a person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified person. 
 “control” (including the terms “controlled by” and “under common control with”) means the
possession, directly or indirectly, or as trustee or executor, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, as trustee or executor, by contract, credit
arrangement or otherwise, including the ownership, directly or indirectly, of securities having the power to elect a majority of the board of directors or similar body governing the affairs of such person. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and all rules and regulations
promulgated thereunder. 
 “FINRA” means the Financial Industry Regulatory Authority, Inc., or any successor
entity thereof. 
 “person” means any individual, corporation, partnership, limited partnership, limited
liability company, syndicate, person (including a “person” or “group” each within the meaning of Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency or
instrumentality of a government. 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 1 

 “Registrable Securities” means the ASTI Shares held by Selling Shareholder
(including any securities issuable or issued or distributed in respect of any such ASTI Shares by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, reorganization, merger, amalgamation,
consolidation or otherwise). For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when (i) a Registration Statement covering such Registrable Securities has been declared effective under the
Securities Act by the SEC and such Registrable Securities have been disposed of pursuant to such effective Registration Statement, (ii) the entire amount of the Registrable Securities proposed to be sold by Selling Shareholder in a single sale,
in the opinion of counsel satisfactory to ASTI and Selling Shareholder, each in their reasonable judgment, may be distributed to the public in the United States pursuant to Rule 144 (or any successor provision then in effect) under the Securities
Act in any three-month period, (iii) any such Registrable Securities have been sold in a sale made pursuant to Rule 144 (or any successor provision then in effect) under the Securities Act or (iv) the Registrable Securities are saleable
pursuant to Rule 144(k) under the Securities Act. 
 “Registration Expenses” means all expenses in connection
with or incident to the registration of Registrable Securities hereunder, including (a) all SEC and any FINRA registration and filing fees and expenses, (b) all fees and expenses in connection with the registration or qualification of
Registrable Securities for offering and sale under the securities or “blue sky” laws of any state or other jurisdiction of the United States of America and, in the case of an underwritten offering, determination of their eligibility for
investment under the laws of such jurisdictions as the managing underwriter or underwriters may reasonably designate, including reasonable fees and disbursements, if any, of counsel for the underwriters in connection with such registrations or
qualifications and determination, (c) all expenses relating to the preparation, printing, distribution and reproduction of any Registration Statement required to be filed hereunder, each prospectus included therein or prepared for distribution
pursuant hereto, each amendment or supplement to the foregoing, the expenses of preparing Registrable Securities in a form for delivery for purchase pursuant to such registration or qualification and the expense of printing or producing any
underwriting agreement(s) and agreement(s) among underwriters and any “blue sky” or legal investment memoranda, any selling agreements and all other documents approved for use in writing by ASTI to be used in connection with the offering,
sale or delivery of Registrable Securities, (d) messenger, telephone and delivery expenses of ASTI and out-of-pocket travel expenses incurred by or for ASTI’s personnel for travel undertaken for any “road show” made in connection
with the offering of securities registered thereby, (e) fees and expenses of any transfer agent and registrar with respect to the delivery of any Registrable Securities and any escrow agent or custodian involved in the offering, (f) fees,
disbursements and expenses of counsel of ASTI and independent certified public accountants of ASTI incurred in connection with the registration, qualification and offering of the Registrable Securities (including the expenses of any opinions or
“comfort” letters required by or incident to such performance and compliance), (g) fees, expenses and disbursements of counsel and any other persons retained by ASTI, including special experts retained by ASTI in connection with such
registration, (h) Securities Act liability insurance, if ASTI desires such insurance and (i) the fees and expenses incurred by ASTI and its advisers in connection with the quotation or listing of Registrable Securities on any securities
exchange or automated securities quotation system. Any brokerage commissions attributable to the sale of any of the Registrable Securities, and any commissions, fees, discounts or, except as specified in the immediately preceding sentence,
expenses of any underwriter or placement agent incurred in connection with an offering of securities registered in accordance with this Agreement and any fees and expenses of any counsel or other advisors to Selling Shareholder and any other
out-of-pocket expenses of Selling Shareholder shall not be “Registration Expenses.” 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 2 

 “Registration Statement” means a Demand Registration Statement or a
Piggy-Back Registration Statement, as the case may be. 
 “SEC” means the United States Securities and Exchange
Commission, or any successor thereto. 
 “Securities Act” means the United States Securities Act of 1933, as
amended, and all rules and regulations promulgated thereunder. 
 (b) The following terms have the meaning set forth in the
Sections set forth below: 
  

			
	 Term
	  	Section
	 Agreement
	  	Preamble
	 ASTI
	  	Preamble
	 ASTI Shares
	  	Recitals
	 Blackout Period
	  	4
	 Common Shares
	  	Recitals
	 Demand Registration
	  	2(a)
	 Demand Registration Statement
	  	2(a)
	 Indemnified Party
	  	8(c)
	 Indemnifying Party
	  	8(c)
	 Maximum Number of Securities
	  	3(c)
	 Norsk Hydro
	  	Preamble
	 Piggy-Back Registration
	  	3(a)
	 Piggy-Back Registration Statement
	  	3(a)
	 Securities Purchase Agreement
	  	Recitals
	 Selling Shareholder
	  	Preamble

 (c) Interpretation and Rules of Construction. In this Agreement,
except to the extent otherwise provided or that the context otherwise requires:
 (i) The headings in this
Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement; 
 (ii) Whenever the words “include”, “includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without limitation”; 
 (iii) The words “hereof”, “herein” and “hereunder” and words of similar import, when used
in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement; 
 (iv) The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; 
 (v) References to a person are also to its successors and permitted assigns; and 
 (vi) The use of “or” is not intended to be exclusive unless expressly indicated otherwise. 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 3 

 2. Demand Registration. 
 (a) At any time after the twelve (12) month anniversary of the date of the Securities Purchase Agreement, after receipt of a
written request from Selling Shareholder requesting that ASTI effect a registration (a “Demand Registration”) under the Securities Act covering at least 250,000 shares of the Registrable Securities, and which notice shall specify
the number of Registrable Securities for which registration is requested and the intended method or methods of distribution thereof, ASTI shall, as soon as practicable, but in any event no later than forty-five (45) days (excluding any days
which occur during a permitted Blackout Period under Section 4 below) after receipt of such written request, file with the SEC and use its reasonable best efforts to cause to be declared effective, a registration statement (a
“Demand Registration Statement”) relating to all of the Registrable Securities that ASTI has been so requested to register for sale, to the extent required to permit the disposition (in accordance with the intended method or methods
of distribution thereof) of the Registrable Securities so registered. 
 (b) If the Demand Registration relates to an
underwritten public offering and the managing underwriter of such proposed public offering advises ASTI and Selling Shareholder that, in its opinion, the number of securities requested to be included in the Demand Registration (including securities
to be sold by ASTI or any other security holder) exceeds the number which can be sold in such offering within an acceptable price range, then ASTI shall include in such Demand Registration first, the Registrable Securities Selling Shareholder
proposes to register, and second, any securities ASTI proposed to register. ASTI shall not hereafter enter into any agreement which is inconsistent with the rights of priority provided in this Section 2(b). 
 (c) Selling Shareholder shall be entitled to an aggregate of three (3) registrations of Registrable Securities pursuant to this
Section 2; provided, that a registration requested pursuant to this Section 2 shall not be deemed to have been effected for purposes of this Section 2(c) unless (i) it has been declared effective by
the SEC, (ii) it has remained effective for the period set forth in Section 5(a) and (iii) the offering of Registrable Securities pursuant to such registration is not subject to any stop order, injunction or other order or
requirement of the SEC. 
 (d) Notwithstanding anything to the contrary contained herein, ASTI shall not be required to
prepare and file (i) more than one (1) Demand Registration Statement in any twelve-month period, or (ii) any Demand Registration Statement within 120 days following the date of effectiveness of any other Registration Statement.

 3. Piggy-Back Registration. 
 (a) If ASTI proposes to file on its behalf and/or on behalf of any holder of its securities (other than a holder of Registrable Securities) a registration statement under the Securities Act on any
form (other than a registration statement on Form S-4 or S-8 (or any successor form) for securities to be offered in a transaction of the type referred to in Rule 145 under the Securities Act or to employees of ASTI pursuant to any employee benefit
plan, respectively) for the registration of ASTI Shares (a “Piggy-Back Registration”), it shall give written notice to Selling Shareholder at least thirty (30) days before the initial filing with the SEC of such piggy-back
registration statement (a “Piggy-Back Registration Statement”), which notice shall set forth the number of ASTI Shares ASTI and other holders, if any, then contemplate including in such registration and the intended method of
disposition of such ASTI Shares. The notice shall offer to include in such filing the aggregate number of Registrable Securities as Selling Shareholder may request. 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 4 

 (b) If Selling Shareholder desires to have Registrable Securities registered under this
Section 3, it shall advise ASTI in writing within ten (10) days after the date of receipt of such offer from ASTI of its desire to have Registrable Securities registered under this Section 3, and shall set forth the
number of Registrable Securities for which registration is requested. ASTI shall thereupon include, or in the case of a proposed underwritten public offering, use its reasonable best efforts to cause the managing underwriter or underwriters to
permit such Selling Shareholder to include, in such filing the number of Registrable Securities for which registration is so requested by Selling Shareholder, subject to paragraph (c) below, and shall use its reasonable best efforts to effect
registration of such Registrable Securities under the Securities Act. Any withdrawal of the registration statement by ASTI for any reason shall constitute and effect an automatic withdrawal of any Piggy-Back Registration related thereto.

 (c) If the Piggy-Back Registration relates to an underwritten public offering and the managing underwriter of such
proposed public offering advises ASTI and Selling Shareholder in writing that, in its opinion, the number of Registrable Securities requested to be included in the Piggy-Back Registration in addition to the securities being registered by ASTI or any
other security holder would be greater than the total number of securities which can be sold in the offering without having a material adverse effect on the distribution of such securities or otherwise having a material adverse effect on the
marketability thereof (the “Maximum Number of Securities”), then: 
 (i) in the event ASTI
initiated the Piggy-Back Registration, ASTI shall include in such Piggy-Back Registration first, the securities ASTI proposes to register and second, the securities of all other selling security holders, including Selling Shareholder,
to be included in such Piggy-Back Registration in an amount that together with the securities ASTI proposes to register, shall not exceed the Maximum Number of Securities, such amount to be allocated among such selling security holders on a pro rata
basis (based on the number of securities of ASTI held by each such selling security holder); and 
 (ii) in
the event any holder of securities of ASTI initiated the Piggy-Back Registration, ASTI shall include in such Piggy-Back Registration first, the securities such initiating security holder proposes to register, second, the
securities of any other selling security holders (including Selling Shareholder), in an amount that together with the securities the initiating security holder proposes to register, shall not exceed the Maximum Number of Securities, such amount to
be allocated among such other selling security holders on a pro rata basis (based on the number of securities of ASTI held by each such selling security holder) and third, any securities ASTI proposes to register, in an amount that together
with the securities the initiating security holder and the other selling security holders propose to register, shall not exceed the Maximum Number of Securities. 
 (d) ASTI shall not hereafter enter into any agreement that is inconsistent with the rights of priority provided in
 Section 3(c). 
 (e) The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 3 prior
to the effectiveness of such registration whether or not any Selling Shareholder has elected to include securities in such registration. The Registration Expenses of any such withdrawn registration shall be borne by the Company. 
 4. Blackout Periods. ASTI shall have the right to delay the filing or effectiveness of a Registration Statement required
pursuant to Section 2 or 3 hereof during no more than two (2) periods aggregating to not more than ninety (90) days in any twelve-month period (each, a “Blackout Period”), in the event that (i) ASTI
would, in accordance with the advice of its counsel, be required to disclose in the prospectus material non-public information that ASTI has a bona fide business purpose for preserving as confidential and that is not otherwise then required by law
to be publicly disclosed, (ii) ASTI determines that the prospectus requires amendment or supplement due to the happening of any event that comes to the attention of ASTI and as a result of which the

  

 REGISTRATION RIGHTS AGREEMENT 
 Page 5 

 
prospectus would contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances in which they were made, not misleading or (iii) in the good faith judgment of ASTI’s board of directors, there is a reasonable likelihood that disclosure of material non-public information, or any other action to be taken in
connection with the prospectus, would materially and adversely affect or interfere with any financing, acquisition, merger, disposition of assets (not in the ordinary course of business), corporate reorganization or other material transaction or
negotiations involving ASTI; provided, however, that (A) Selling Shareholder shall be entitled, at any time after receiving notice of such delay and before such Demand Registration Statement becomes effective, to withdraw such
request and, if such request is withdrawn, such Demand Registration shall not count as one of the permitted Demand Registrations and (B) ASTI shall delay during such Blackout Period the filing or effectiveness of any Registration Statement
required pursuant to the registration rights of other holders of any securities of ASTI. ASTI shall promptly give Selling Shareholder written notice of such determination containing a general statement of the reasons for such postponement and
an approximation of the anticipated delay. After the expiration of any Blackout Period (including upon public disclosure of the material non-public information that was the reason for such Blackout Period) and without any further request from
Selling Shareholder, ASTI shall promptly notify Selling Shareholder and shall use its reasonable best efforts to prepare and file with the SEC the requisite Registration Statement or such amendments or supplements to such Registration Statement or
prospectus used in connection therewith as may be necessary to cause such Registration Statement to become effective as promptly as practicable thereafter. 
 5. Registration Procedures. If ASTI is required by the provisions of Section 2 or 3 to use its reasonable best efforts to effect the registration of any of its
securities under the Securities Act, ASTI shall, as soon as practicable, and in the case of a Demand Registration no later than sixty (60) days (excluding any days that fall during a permitted Blackout Period under Section 4) after
receipt of a written request for a Demand Registration: 
 (a) prepare and file with the SEC a Registration
Statement with respect to such securities and use its reasonable best efforts to cause such Registration Statement to become effective as promptly as practicable and to remain effective for a period of time required for the disposition of such
Registrable Securities by Selling Shareholder but not to exceed sixty (60) days excluding any days that fall during a permitted Blackout Period under Section 4; provided, however, that before filing such Registration
Statement or any amendments or supplements thereto, ASTI shall furnish to counsel selected by Selling Shareholder copies of all documents proposed to be filed, which documents shall be subject to the review of and comment by such counsel;

 (b) prepare and file with the SEC such amendments and supplements to such Registration Statement and the
prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities covered by such
Registration Statement until the earlier of such time as all ASTI Shares held by Selling Shareholder cease to be Registered Securities and the expiration of sixty (60) days (excluding any days that fall during a permitted Blackout Period under
Section 4); 
 (c) furnish to Selling Shareholder and each underwriter, if any, of the
Registrable Securities being sold by Selling Shareholder such number of conformed copies of the applicable Registration Statement and each such amendment and supplement thereto (including in each case all exhibits), such number of copies of the
prospectus contained in such Registration Statement (including each preliminary prospectus and any summary prospectus) and any other prospectus, in conformity with the requirements of the Securities Act, and such other documents, as Selling
Shareholder and such underwriter, if any, may reasonably request; 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 6 

 (d) use its reasonable best efforts to register or qualify the
Registrable Securities or other securities covered by such Registration Statement under such other securities or blue sky laws of such jurisdictions within the United States and its territories and possessions as Selling Shareholder and any
underwriter of the Registrable Securities being sold by Selling Shareholder shall reasonably request, to keep such registration or qualification in effect for so long as such Registration Statement remains in effect or until all of the Registrable
Securities are sold, whichever is shorter, and to take any other action which may be reasonably necessary or advisable to enable Selling Shareholder and such underwriter to consummate the disposition in such jurisdictions of the securities owned by
Selling Shareholder (provided, however, that ASTI shall not be required in connection therewith or as a condition thereto to qualify to do business as a foreign corporation, subject itself to taxation in or to file a general consent to
service of process in any jurisdiction where it would not, but for the requirements of this paragraph (d), be obligated to do so) and do such other reasonable acts and things as may be required of it to enable Selling Shareholder and such
underwriter to consummate the disposition in such jurisdiction of the securities covered by such Registration Statement; 
 (e) (i) furnish, at the request of Selling Shareholder, a signed counterpart, addressed to Selling Shareholder and the underwriters, if any, of an opinion of counsel representing ASTI in
connection with such registration, dated the effective date of such Registration Statement (or, if such registration includes an underwritten public offering, opinions dated the date of the closing(s) under the underwriting agreement) covering such
matters as are customary in connection with such registered offering of securities by ASTI, reasonably satisfactory in form and substance to Selling Shareholder and (ii) use its reasonable best efforts to furnish, at the request of Selling
Shareholder, a signed counterpart, addressed to Selling Shareholder and the underwriters, if any, of a “comfort” letter, dated the effective date of such Registration Statement (and, if such registration includes an underwritten public
offering, letters of like kind dated the date the offering is priced and the date of the closing under the underwriting agreement), signed by the independent public accountants who have certified ASTI’s financial statements included in such
Registration Statement covering substantially the same matters with respect to such Registration Statement (and the prospects included therein) and, with respect to events subsequent to the date of such financial statements, as are customarily
covered in accountants’ letters delivered to the underwriters in underwritten public offerings of securities, including that in the opinion of such accountants, the financial statements and other financial data of ASTI included in such
Registration Statement, prospectus or any amendment or supplement thereto, comply as to form in all material respects with the applicable requirements of the Securities Act; 
 (f) enter, only with respect to Demand Registrations relating to an underwritten public offering, into customary
agreements (including an underwriting agreement containing representations, warranties and indemnities in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable
Securities; 
 (g) otherwise use its reasonable best efforts to comply with all applicable rules and
regulations promulgated by the SEC; 
  

 REGISTRATION RIGHTS AGREEMENT 
 Page 7 

 (h) use its reasonable best efforts to cause all such Registrable
Securities to be listed on each securities exchange or quotation system on which ASTI Shares are listed or traded; 
 (i) give written notice to Selling Shareholder: 
 (i) when such Registration Statement, the
prospectus or any amendment or supplement thereto has been filed with the SEC and when such Registration Statement or any post-effective amendment thereto has become effective; 
 (ii) of any request by the SEC for amendments or supplements to such Registration Statement or the prospectus included
therein or for additional information; 
 (iii) of the issuance by the SEC of any stop order suspending the
effectiveness of such Registration Statement or the initiation of any proceedings for that purpose; 
 (iv) of the receipt by ASTI or its legal counsel of any notification with respect to the suspension of the qualification of ASTI Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose;
and 
 (v) of the happening of any event that requires ASTI to make changes in such Registration Statement
or such prospectus in order to make the statements therein, in light of the circumstances in which they were made, not misleading (which notice shall be accompanied by an instruction to suspend the use of such prospectus until the requisite changes
have been made); 
 (j) use its reasonable best efforts to prevent the issuance or obtain the withdrawal of
any order suspending the effectiveness of such Registration Statement at the earliest possible time; 
 (k) upon the occurrence of any event contemplated by Section 5(i)(v) above, promptly prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus or file any other required
document so that, as thereafter delivered to Selling Shareholder, the prospectus shall not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading. If ASTI notifies Selling Shareholder in accordance with Section 5(i)(v) above to suspend the use of the prospectus until the requisite changes to the prospectus have been made, then
Selling Shareholder shall suspend use of such prospectus and use its reasonable best efforts to return to ASTI all copies of such prospectus other than permanent file copies then in Selling Shareholder’s possession, and the period of
effectiveness of such Registration Statement provided for above shall be extended by the number of days from and including the date of the giving of such notice to the date Selling Shareholder shall have received such amended or supplemented
prospectus pursuant to this Section 5(k); 
 (l) make reasonably available for inspection by
representatives of Selling Shareholder, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by such representative or any such underwriter all relevant
financial and other records, pertinent corporate documents and properties of ASTI and cause ASTI’s officers, directors and employees to supply all relevant information reasonably requested by such representative or any such underwriter,
attorney, accountant or agent in connection with the registration; 
  

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 (m) in connection with any underwritten offering, make appropriate
officers and senior executives of ASTI available to the selling security holders for meetings with prospective purchasers of Registrable Securities and prepare and present to potential investors customary “road show” material in each case
in accordance with the recommendations of the underwriters and in all respects in a manner reasonably requested and consistent with other new issuances of securities in an offering of a similar size to such offering of the Registrable Securities;
and 
 (n) use reasonable best efforts to procure the cooperation of ASTI’s transfer agent in settling
any offering or sale of Registrable Securities, including with respect to the transfer of physical stock certificates into book-entry form in accordance with any procedures reasonably requested by Selling Shareholder or the underwriters, if any.

 It shall be a condition precedent to the obligation of ASTI to take any action pursuant to this Agreement in respect of the
Registrable Securities which are to be registered at the request of Selling Shareholder that Selling Shareholder shall furnish to ASTI such information regarding the Registrable Securities held by Selling Shareholder and the intended method of
distribution thereof as ASTI shall reasonably request and as shall be required in connection with the action taken by ASTI. 
 6. Expenses. All Registration Expenses shall be paid by ASTI, except that Selling Shareholder shall bear and pay any (a) brokerage commissions attributable to the sale of any of the Registrable Securities,
(b) underwriting commissions and discounts applicable to securities offered for its account in connection with any registrations, filings and qualifications made pursuant to this Agreement, (c) fees and expenses incurred in respect of
counsel or other advisors to Selling Shareholder and (d) any other out-of-pocket expenses of Selling Shareholder. 
 7. Rule 144 Information. With a view to making available the benefits of certain rules and regulations of the SEC which may at any time permit the sale of the Registrable Securities to the public without registration,
ASTI agrees to: 
 (a) make and keep public information available, as those terms are understood and defined
in Rule 144 under the Securities Act; 
 (b) use its best efforts to file with or furnish to the SEC in
a timely manner all reports and other documents required of ASTI under the Securities Act and the Exchange Act; and
 (c) furnish to Selling Shareholder forthwith upon request a written statement by ASTI as to its compliance with the reporting requirements of Rule 144 under the Exchange Act and of the Securities Act and the Exchange Act, a copy
of the most recent annual or quarterly report of ASTI, and such other reports and documents so filed or furnished by ASTI as Selling Shareholder may reasonably request in availing itself of any rule or regulation of the SEC allowing Selling
Shareholder to sell any Registrable Securities without registration. 
 8. Indemnification and Contribution.

 (a) ASTI shall indemnify and hold harmless Selling Shareholder, Selling Shareholder’s directors and officers, each
agent and any underwriter for ASTI (within the meaning of the Securities Act), and each person, if any, who controls Selling Shareholder or such agent or underwriter within the meaning of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which they may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or proceedings in respect thereof) arise out of or are based on any untrue or alleged
untrue statement of any material fact contained in a

  

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Registration Statement on the effective date thereof (including any prospectus filed under Rule 424 under the Securities Act or any amendments or supplements thereto), or any document
incorporated by reference therein, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and shall reimburse each
of Selling Shareholder, Selling Shareholder’s directors and officers, such agent or underwriter or such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability, proceeding or action; provided, however, that the indemnity agreement contained in this Section 8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability,
proceeding or action if such settlement is effected without the consent of ASTI (which consent shall not be unreasonably withheld or delayed); provided further that ASTI shall not be liable to Selling Shareholder, such Selling
Shareholder’s directors and officers, such agent or underwriter or such controlling person in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in connection with a Registration Statement, preliminary prospectus, final prospectus or amendments or supplements thereto, in reliance upon and in conformity with written information
furnished expressly for use in connection with such registration by Selling Shareholder, such Selling Shareholder’s directors or officers, such agent or underwriter or such controlling person or by such Selling Shareholder’s failure to
furnish ASTI, upon request, with the information with respect to Selling Shareholder or any participating person that is the subject of the untrue statement or omission. ASTI shall not, without the consent of Selling Shareholder (which consent
shall not be unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding or action in respect of which Selling Shareholder is a party and indemnity has been sought hereunder by Selling Shareholder, unless such
settlement includes an unconditional release of Selling Shareholder from all liability for claims that are the subject matter of such proceeding or action. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of Selling Shareholder, Selling Shareholder’s directors and officers, such agent or underwriter or such controlling person, and shall survive the transfer of such securities by Selling Shareholder.
 (b) Selling Shareholder shall indemnify and hold harmless ASTI, each of its directors and officers, each person, if any, who controls
ASTI within the meaning of the Securities Act, and each agent and any underwriter for ASTI (within the meaning of the Securities Act) against any losses, claims, damages or liabilities, joint or several, to which ASTI or any such director, officer,
controlling person, agent or underwriter may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or proceedings in respect thereof) arise out of or are based upon any untrue statement or
alleged untrue statement of any material fact contained in a Registration Statement on the effective date thereof (including any prospectus filed under Rule 424 under the Securities Act or any amendments or supplements thereto) or arise out of
or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in such Registration Statement, preliminary or final prospectus, or amendments or supplements thereto, in reliance upon and in conformity with written information
furnished by or on behalf of Selling Shareholder expressly for use in connection with such registration, preliminary prospectus, final prospectus or amendments or supplements thereto; and Selling Shareholder shall reimburse any legal or other
expenses reasonably incurred by ASTI or any such director, officer, controlling person, agent or underwriter in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the
indemnity agreement contained in this Section 8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of Selling Shareholder (which
consent shall not be unreasonably withheld or delayed), and provided further that the liability of Selling Shareholder hereunder shall be limited to the aggregate net proceeds received by Selling Shareholder in connection with any
offering to which such registration under the

  

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Securities Act relates. Selling Shareholder shall not, without the consent of ASTI (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or
threatened proceeding or action in respect of which ASTI is a party and indemnity has been sought hereunder by ASTI, unless such settlement includes an unconditional release of ASTI from all liability for claims that are the subject matter of such
proceeding or action. 
 (c) If the indemnification provided for in this Section 8 from the indemnifying party
(the “Indemnifying Party”) is unavailable to any person entitled to indemnification hereunder (the “Indemnified Party”) in respect of any losses, claims, damages, liabilities or expenses referred to therein, then
the Indemnifying Party, in lieu of indemnifying the Indemnified Party, shall contribute to the amount paid or payable by the Indemnified Party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate
to reflect the relative fault of the Indemnifying Party and the Indemnified Party in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable
considerations. The relative fault of the Indemnifying Party and the Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact
or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, the Indemnifying Party or the Indemnified Party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses
reasonably incurred by such party in connection with any investigation or proceeding. If the allocation provided in this paragraph (c) is not permitted by applicable law, the parties shall contribute based upon the relevant benefits
received by ASTI from the offering of securities on the one hand and the net proceeds received by Selling Shareholder from the sale of securities on the other. 
 The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to in the immediately preceding paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. 
 (d) The Indemnified Party agrees
to give prompt written notice to the Indemnifying Party after the receipt by the Indemnified Party of any written notice of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which the Indemnified
Party intends to claim indemnification or contribution pursuant to this Agreement; provided, that the failure so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any liability that it may have to the Indemnified
Party hereunder unless such failure is materially prejudicial to the Indemnifying Party. If notice of commencement of any such action is given to the Indemnifying Party as above provided, the Indemnifying Party shall be entitled to participate
in and, to the extent it may wish, to assume the defense of such action at its own expense, with counsel chosen by it and reasonably satisfactory to such Indemnified Party. The Indemnified Party shall have the right to employ separate counsel
in any such action and participate in the defense thereof, but the reasonable fees and expenses of such counsel shall be paid by the Indemnified Party unless (i) the Indemnifying Party agrees to pay the same, (ii) the Indemnifying Party
fails to assume the defense of such action or (iii) the named parties to any such action (including any impleaded parties) have been advised by such counsel that either (A) representation of such Indemnified Party and the Indemnifying
Party by the same counsel would be inappropriate under applicable standards of professional conduct or (B) there are one or more legal defenses available to it which are substantially different from or additional to those available to the
Indemnifying Party. No Indemnifying Party shall be liable for any settlement entered into without its written consent, which consent shall not be unreasonably withheld or delayed. 
  

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 (e) The agreements contained in this Section 8 shall survive the transfer
of the Registrable Securities by Selling Shareholder and sale of all the Registrable Securities pursuant to any Registration Statement and shall remain in full force and effect, regardless of any investigation made by or on behalf of Selling
Shareholder, any of Selling Shareholder’s directors and officers, any person who participates in the offering of Registrable Securities, including underwriters (as defined in the Securities Act), and any person, if any, who controls Selling
Shareholder or such participating person within the meaning of the Securities Act. 
 9. Limitations on Registration of
Other Securities; Representation. From and after the date of this Agreement, ASTI shall not, without the prior written consent of Norsk Hydro, enter into any agreement with any holder or prospective holder of any securities of ASTI giving
such holder or prospective holder any registration rights the terms of which are more favorable taken as a whole than the registration rights granted to Selling Shareholder hereunder unless ASTI shall also give such rights to Selling Shareholder.

 10. No Inconsistent Agreements. ASTI shall not hereafter enter into any agreement with respect to its
securities that is inconsistent in any material respects with the rights granted to Selling Shareholder in this Agreement. 
 11. Selection of Managing Underwriters. In the event Selling Shareholder has requested an underwritten offering, the underwriter or underwriters shall be selected by Selling Shareholder and shall be approved by ASTI, which
approval shall not be unreasonably withheld or delayed, ASTI and Selling Shareholder shall enter into an underwriting agreement with such underwriter or underwriters containing representations, warranties and indemnities in customary form,
provided, (i) that all of the representations and warranties by, and the other agreements on the part of, ASTI to and for the benefit of such underwriters shall also be made to and for the benefit of Selling Shareholder, (ii) that
any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement shall be conditions precedent to the obligations of Selling Shareholder and (iii) that Selling Shareholder shall not be required to
make any representations or warranties to or agreements with ASTI or the underwriters other than representations, warranties or agreements regarding Selling Shareholder and the Registrable Securities held by Selling Shareholder and any other
representations required by law. 
 12. Miscellaneous. 
 (a) Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this
Agreement was not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or in equity. 
 (b) Amendments and Waivers. 
 (i) Any provision of this Agreement may be amended or waived only if such amendment or waiver is in writing and signed, in the case of an amendment, by ASTI and Selling Shareholder or, in the case of
a waiver, by the party or parties against whom the waiver is to be effective. 
  

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 (ii) No failure or delay by any party hereto in exercising any right,
power or privilege hereunder (other than a failure or delay beyond a period of time specified herein) shall operate as a waiver thereof and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of
any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 
 (c) Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by
delivery in person, by telecopy, by a recognized overnight courier service or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as
shall be specified in a notice given in accordance with this
 Section 12(c)):
 (i) if to ASTI:

 Ascent Solar Technologies, Inc. 
 12300 N. Grant St. 
 Thornton, CO 80241-3120 
 United States 

			
	Facsimile:	 	+1 (720) 872-5077
	Attention:	 	Farhad Moghadam, President and Chief Executive Officer

 with a copy to: 
 Holland & Knight LLP 
 2300 U.S. Bancorp Tower 
 111 S.W. Fifth Avenue 
 Portland, Oregon 97204 
 United States 

			
	Facsimile:	 	+1 (503) 241-8014
	Attention:	 	Mark A. von Bergen
		 	David C. Wang

 (ii) if to Norsk Hydro or Selling Shareholder: 
 Norsk Hydro Produksjon AS 
 Drammensveien 260 
 N-0240 Oslo 
 Norway 

			
	Facsimile:	 	+ 47 22 53 75 82
	Attention:	 	Rolf Torgeir Aase

 with a copy to (which shall not constitute notice): 
 Shearman & Sterling LLP 
 Broadgate West 
 9 Appold Street 
 London EC2A 2AP 
 United Kingdom 

			
	Facsimile:	 	+44 (0) 207 655-5216
	Attention:	 	Sean J. Skiffington

  

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 (d) Successors and Assigns; Third Party Beneficiaries. This Agreement shall
be binding upon and inure solely to the benefit of each party hereto, and, except as provided in Section 8 hereof, nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or
remedy of any nature whatsoever under or by reason of this Agreement. This Agreement may not be assigned by any party hereto without the prior written consent of the other party hereto, except that the registration rights of Selling Shareholder
with respect to any Registrable Securities shall be transferred to any affiliate of Selling Shareholder to which Registrable Securities have been transferred. All of the obligations of ASTI hereunder shall survive any such transfer. 

(e) Governing Law; Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of Delaware. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined exclusively in any Delaware state or federal court, in each case sitting in the City of Wilmington, New Castle
County. The parties hereto hereby (a) submit to the exclusive jurisdiction of any Delaware state or federal court, in each case sitting in the City of Wilmington, New Castle County, for the purpose of any action arising out of or relating
to this Agreement brought by any party hereto and (b) irrevocably waive, and agree not to assert by way of motion, defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution, that the action is brought in an inconvenient forum, that the venue of the action is improper or that this Agreement or the transactions contemplated hereby may not be
enforced in or by any of the above-named courts. 
 (f) Waiver of Jury Trial. Each of the parties hereto hereby
waives to the fullest extent permitted by applicable law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the transactions contemplated
hereby. Each of the parties hereto (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce that
foregoing waiver and (ii) acknowledges that it and the other party hereto have been induced to enter into this Agreement and the transactions contemplated hereby, as applicable, by, among other things, the mutual waivers and certifications in
this Section 12(f). 
 (g) Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest
extent possible. 
 (h) Entire Agreement. This Agreement and the Securities Purchase Agreement constitute the
entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and undertakings, both written and oral, between the parties with respect to the subject matter hereof and thereof.

 (i) Cumulative Remedies. The rights and remedies provided by this Agreement are cumulative and the use of
any one right or remedy by any party hereto shall not preclude or waive its right to use any or all other remedies. Such rights and remedies are given in addition to any other rights the parties may have by law, statute, ordinance or otherwise.

  

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 (j) Construction. Each party hereto acknowledges and agrees it has had the
opportunity to draft, review and edit the language of this Agreement and that no presumption for or against any party arising out of drafting all or any part of this Agreement will be applied in any dispute relating to, in connection with or
involving this Agreement. Accordingly, the parties hereto hereby waive the benefit of any rule of law or any legal decision that would require, in cases of uncertainty, that the language of a contract should be interpreted most strongly against
the party who drafted such language. 
 (k) Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and
the same agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first written above by their respective officers thereunto duly authorized. 
  

			
	ASCENT SOLAR TECHNOLOGIES, INC.
		
	By:	 	 
	Name:	 	Farhad Moghadam
	Title:	 	President and Chief Executive Officer
	
	NORSK HYDRO PRODUKSJON AS
		
	By:	 	 
	Name:	 	
	Title:	 	Authorized Representative

  

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