Document:

Form of Common Stock Purchase Warrant

 EXHIBIT 4.8 
 FORM OF WARRANT 
 NEITHER THIS WARRANT NOR ANY SHARES OF COMMON STOCK ISSUABLE
UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE
OFFERED, SOLD, OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS OR UNLESS OFFERED, SOLD OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THOSE LAWS. 
 NEXXUS LIGHTING, INC. 
 COMMON STOCK PURCHASE WARRANT 
  

			
	No.                     	 	                        , 2009

 NEXXUS LIGHTING, INC., a Delaware corporation (the
“Company”), hereby certifies that
                                         
   , its permissible transferees, designees, successors and assigns (collectively, the “Holder”), for value received, is entitled to purchase from the Company at any time commencing six (6) months after the
effective date of this Warrant (the “Effective Date”), which shall be the Signing Date (as defined in the Preferred Stock Exchange Agreement (the “Exchange Agreement”), dated as of
                    , 2009, by and among the Company and the Shareholders listed on Schedule 1 thereto), and terminating on the third
anniversary of the date of this Warrant (the “Termination Date”) up to                      shares (each, a
“Share” and collectively the “Shares”) of the Company’s Common Stock, $.001 par value per Share (the “Common Stock”), at an exercise price per Share equal to
                     Dollars and
                     Cents ($            ) (the “Exercise
Price”). The number of Shares purchasable hereunder and the Exercise Price are subject to adjustment as provided in Section 4 hereof. Capitalized terms used and not otherwise defined herein will have the respective meanings given to
such terms in the Exchange Agreement. 
 1. Method of Exercise; Payment. 
 (a) Cash Exercise. The purchase rights represented by this Warrant may be exercised by the Holder, in whole or in part, at any time,
or from time to time, commencing six (6) months after the date of this Warrant and terminating on the Termination Date, by the surrender of this Warrant (with the notice of exercise form (the “Notice of Exercise”) attached
hereto as Exhibit A duly executed) at the principal office

  

 -1- 

 
of the Company, and by payment to the Company of an amount equal to the Exercise Price multiplied by the number of the Shares being purchased, which amount may be paid, at the election of the
Holder, by (i) wire transfer or certified check payable to the order of the Company, (ii) cancellation by the Holder of indebtedness or other obligations of the Company to the Holder or (iii) a combination of (i) and (ii). The
person or persons in whose name(s) any certificate(s) representing Shares shall be issuable upon exercise of this Warrant shall be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of,
the Shares represented thereby (and such Shares shall be deemed to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised. 
 (b) Stock Certificates. In the event of any exercise of the rights represented by this Warrant, as promptly as practicable on or
after the date of exercise and in any event within ten (10) days thereafter, the Company at its expense shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for the number of Shares
issuable upon such exercise. In the event this Warrant is exercised in part, the Company at its expense will execute and deliver a new Warrant of like tenor exercisable for the number of Shares for which this Warrant may then be exercised.

 (c) Taxes. The issuance of the Shares upon the exercise of this Warrant, and the delivery of certificates or other
instruments representing such Shares, shall be made without charge by the Company to the Holder for any tax or other charge in respect of such issuance. 
 2. Warrant. 
 (a) Exchange, Transfer and Replacement. At any time
prior to the exercise hereof, this Warrant may be exchanged upon presentation and surrender to the Company, alone or with other warrants of like tenor of different denominations registered in the name of the same Holder, for another warrant or
warrants of like tenor in the name of such Holder exercisable for the aggregate number of Shares as the warrant or warrants surrendered. 
 (b) Replacement of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant and, in the case of any such loss, theft,
or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company, or, in the case of any such mutilation, upon surrender and cancellation of this Warrant, the Company, at its expense, will execute and
deliver in lieu thereof, a new Warrant of like tenor. 
 (c) Cancellation; Payment of Expenses. Upon the surrender of
this Warrant in connection with any transfer, exchange or replacement as provided in this Section 2, this Warrant shall be promptly canceled by the Company. The Holder shall pay all taxes and all other expenses (including legal expenses,
if any, incurred by the Holder or transferees) and charges payable in connection with the preparation, execution and delivery of Warrants pursuant to this Section 2. 
  

 -2- 

 (d) Warrant Register. The Company shall maintain, at its principal executive offices
(or at the offices of the transfer agent for the Warrant or such other office or agency of the Company as it may designate by notice to the holder hereof), a register for this Warrant (the “Warrant Register”), in which the Company
shall record the name and address of the person in whose name this Warrant has been issued, as well as the name and address of each transferee and each prior owner of this Warrant. 
 3. Rights and Obligations of Holders of this Warrant. The Holder of this Warrant shall not, by virtue hereof, be entitled to any
rights of a stockholder in the Company, either at law or in equity; provided, however, that in the event any certificate representing shares of Common Stock or other securities is issued to the holder hereof upon exercise of this
Warrant, such holder shall, for all purposes, be deemed to have become the holder of record of such Common Stock on the date on which this Warrant, together with a duly executed Election to Purchase, was surrendered and payment of the aggregate
Exercise Price was made, irrespective of the date of delivery of such Common Stock certificate. 
 4. Adjustments.

 (a) Stock Dividends, Reclassifications, Recapitalizations, Etc. In the event the Company: (i) pays a dividend in
Common Stock or makes a distribution in Common Stock, (ii) subdivides its outstanding Common Stock into a greater number of shares, (iii) combines its outstanding Common Stock into a smaller number of shares or (iv) increases or
decreases the number of shares of Common Stock outstanding by reclassification of its Common Stock (including a recapitalization in connection with a consolidation or merger in which the Company is the continuing corporation), then (1) the
Exercise Price on the record date of such division or distribution or the effective date of such action shall be adjusted by multiplying such Exercise Price by a fraction, the numerator of which is the number of shares of Common Stock outstanding
immediately before such event and the denominator of which is the number of shares of Common Stock outstanding immediately after such event, and (2) the number of shares of Common Stock for which this Warrant may be exercised immediately before
such event shall be adjusted by multiplying such number by a fraction, the numerator of which is the Exercise Price immediately before such event and the denominator of which is the Exercise Price immediately after such event. 
 (b) Cash Dividends and Other Distributions. In the event that at any time or from time to time the Company shall distribute to all
holders of Common Stock (i) any dividend or other distribution of cash, evidences of its indebtedness, shares of its capital stock or any other properties or securities or (ii) any options, warrants or other rights to subscribe for or
purchase any of the foregoing (other than in each case, (w) the issuance of any rights under a shareholder rights plan, (x) any dividend or distribution described in Section 4(a), (y) any rights, options, warrants or
securities described in

  

 -3- 

 
Section 4(c) and (z) any cash dividends or other cash distributions from current or retained earnings), then the Company shall, at least ten (10) days prior to the record
date for determining holders of the Common Stock for purposes of such action, send to each Holder a notice of such proposed action. Such notice shall be mailed to the Holders at their addresses as they appear in the Warrant Register (as defined in
Section 2(d)), which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance or event is to take place and the date of participation therein by the holders of Common Stock, if
any such date is to be fixed, and shall briefly describe such action. 
 (c) Combination: Liquidation. (i) In the
event of a Combination (as defined below), each Holder shall have the right to receive upon exercise of the Warrant the kind and amount of shares of capital stock or other securities or property which such Holder would have been entitled to receive
upon or as a result of such Combination had such Warrant been exercised immediately prior to such event (subject to further adjustment in accordance with the terms hereof). Unless paragraph (ii) is applicable to a Combination, the Company shall
provide that the surviving or acquiring Person (the “Successor Company”) in such Combination will assume by written instrument the obligations under this Section 4 and the obligations to deliver to the Holder such shares
of stock, securities or assets as, in accordance with the foregoing provisions, the Holder may be entitled to acquire. “Combination” means an event in which the Company consolidates with, mergers with or into, or sells all or
substantially all of its assets to another Person, where “Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization,
government or any agency or political subdivision thereof or any other entity; (ii) In the event of (x) a Combination where consideration to the holders of Common Stock in exchange for their shares is payable solely in cash or (y) the
dissolution, liquidation or winding-up of the Company, the Holders shall be entitled to receive, upon surrender of their Warrant, distributions on an equal basis with the holders of Common Stock or other securities issuable upon exercise of the
Warrant, as if the Warrant had been exercised immediately prior to such event, less the Exercise Price. In case of any Combination described in this Section 4, the surviving or acquiring Person and, in the event of any dissolution,
liquidation or winding-up of the Company, the Company, shall deposit promptly with an agent or trustee for the benefit of the Holders of the funds, if any, necessary to pay to the Holders the amounts to which they are entitled as described above.
After such funds and the surrendered Warrant are received, the Company is required to deliver a check in such amount as is appropriate (or, in the case of consideration other than cash, such other consideration as is appropriate) to such Person or
Persons as it may be directed in writing by the Holders surrendering such Warrant. 
 (d) NASDAQ Limitation.
Notwithstanding any other provision in this Section 4 to the contrary, if a reduction in the Exercise Price pursuant to this Warrant would require the Company to obtain stockholder approval of the transactions contemplated by the Exchange
Agreement pursuant to any applicable NASDAQ rules, including NASDAQ Marketplace Rule 5635, and such stockholder approval has not been obtained, the Exercise Price shall be reduced to the maximum Exercise Price that would

  

 -4- 

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

  

 -5- 

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

  

 -6- 

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

			
	If to the Company:	  	 Nexxus Lighting, Inc.
 124
Floyd Smith Office Park Drive
 Suite 300
 Charlotte, North Carolina 28262
 Attention: Gary R. Langford, Chief Financial Officer
 Facsimile: 704-405-0422

		
		  	with a copy to:
		
		  	 Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
 215 North Eola Drive
 Orlando, FL 32801
 Attention: Suzan Abramson, Esq.
 Facsimile:
407-843-4444

		
	if to the Holder:	  	to the Holder’s address as specified in the records of the Company

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

 -7- 

 13. Severability. If any provision of this Warrant is held to be unenforceable under
applicable law, such provision shall be excluded from this Warrant, and the balance hereof shall be interpreted as if such provision were so excluded. 
 14. Modification and Waiver. This Warrant and any provision hereof may be amended, waived, discharged or terminated only by an instrument in writing signed by the Company and the Holder.

 15. Specific Enforcement. The Company and the Holder acknowledge and agree that irreparable damage would occur in the
event that any of the provisions of this Warrant were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent or cure
breaches of the provisions of this Warrant and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which either of them may be entitled by law or equity. 
 16. Assignment. Subject to prior written approval by the Company, this Warrant may be transferred or assigned, in whole or in part,
at any time and from time to time by the then Holder by submitting this Warrant to the Company together with a duly executed Assignment in substantially the form and substance of the Form of Assignment which accompanies this Warrant, as
Exhibit B hereto, and, upon the Company’s receipt hereof, and in any event, within five (5) Business Days thereafter, the Company shall issue a warrant to the Holder to evidence that portion of this Warrant, if any as shall not
have been so transferred or assigned. 
 [the following section is optional, based on the choice of each Holder] 
 17. Limitation on Exercise. Notwithstanding anything to the contrary contained herein, the number of shares of Common Stock that
may be acquired by the Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such exercise (or other issuance), the total number of shares of Common Stock
then beneficially owned by such Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed
[9.999%][4.999%] [original Holder shall choose one] of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For such purposes, beneficial ownership
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. Each delivery of an Exercise Notice hereunder will constitute a representation by the Holder that it has
evaluated the limitation set forth in this paragraph and determined that issuance of the full number of Warrant Shares requested in such Exercise Notice is permitted under this paragraph. This provision shall not restrict the number of shares of
Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities or other consideration that such Holder may receive in the event of a merger or other business combination or reclassification
involving the Company. This restriction may not be waived without the consent of the Holder. 
  

 -8- 

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

					
	 	 	NEXXUS LIGHTING, INC.
	 	 
	Date:
                    , 2009	 	By:                                       
             
	 	 	Name:	 	Gary R. Langford
	 	 	Title:	 	Chief Financial Officer
	 	 	 	 	 

  

 -9- 

 EXHIBIT A 
 TO 
 WARRANT CERTIFICATE 
 ELECTION TO PURCHASE 
 To Be
Executed by the Holder 
 in Order to Exercise the Warrant 
 The undersigned Holder hereby elects to purchase                      Shares pursuant to the
attached Warrant, and requests that certificates for securities be issued in the name of: 
  

	
	 
	(Please type or print name and address)
	
	 
	
	 
	
	 
	(Social Security or Tax Identification Number)

 and delivered 
 to:                                       
                                         
                                         
                                         
                                         
      
                                        
                                         
                                         
                                         
                                         
         . 
 (Please type or print name and address if different from above)

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

  

					
	 	 	HOLDER:
	 		 
	 	 	By:	 	  

	 	 		 	Name:
	 	 		 	Title:
	 	 	 	 	Address:
	Dated:
                    	 	 	 	 

  

 -10- 

 EXHIBIT B 
 TO 
 WARRANT 
 FORM OF ASSIGNMENT 
 (To be signed only on transfer of Warrant)

 For value received, the undersigned hereby sells, assigns, and transfers unto
                                         
                the right represented by the within Warrant to purchase
                     shares of Common Stock of Nexxus Lighting, Inc., a Delaware corporation, to which the within Warrant relates, and
appoints                              Attorney to transfer such right on the books of Nexxus Lighting,
Inc., a Delaware corporation, with full power of substitution of premises. 
  

					
	Dated:	 	By:	 	  

	 	 		 	Name:
	 	 		 	Title:
	 	 	 	 	 (signature must conform to name

of holder as specified on the face
 of the
Warrant)

	 	 
	 	 	Address:

 Signed in the presence of : 
 Dated: 
  

 -11-Form of Convertible Promissory Note

 EXHIBIT 4.9 
 FORM OF CONVERTIBLE PROMISSORY NOTE 
 THIS CONVERTIBLE PROMISSORY NOTE HAS NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE, AND IS BEING OFFERED AND SOLD PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
SUCH LAWS. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR SUCH OTHER
LAWS. 
 NEXXUS LIGHTING, INC. 
 CONVERTIBLE PROMISSORY NOTE 
  

			
	 $                                
	  	                    , 2009
		  	Charlotte, North Carolina

 FOR VALUE RECEIVED, and upon and subject to the terms and conditions set forth
herein, Nexxus Lighting, Inc., a Delaware corporation (the “Company”), hereby promises to pay to the order of
                                         
        (together with its permitted successors and assigns, “Holder”), the principal sum of
                                     UNITED STATED DOLLARS
(U.S. $                    ) on the Maturity Date, together with interest as provided herein. This Note was issued under and is subject to a
Preferred Stock Exchange Agreement (the “Exchange Agreement”) dated as of [                    ], 2009 among the Company,
payee and certain other parties. Capitalized terms used and not otherwise defined herein will have the respective meanings given to such terms in the Exchange Agreement. 
 1. Maturity Date. This Note will mature, and be due and payable in full, on
                    , 2012 (the “Maturity Date”). 
 2. Interest. From and after the date hereof, all outstanding principal of this Note will bear simple interest at the rate of one percent (1%) per annum. Interest on the outstanding
principal amount of this Note shall be payable annually commencing on the date that is one year after the date of this Note. All outstanding principal and accrued, but unpaid, interest on this Note shall be due and payable on the Maturity Date.

 3. Prepayment. With thirty (30) days prior written notice to the Holder, the Company may
prepay this Note prior to the Maturity Date, without premium or penalty; provided that any prepayment of this Note shall only be made if simultaneously therewith the Company makes a pro rata prepayment (based on the then outstanding principal amount
of all such Notes) to holders of all of the other Notes issued pursuant to the Exchange Agreement. The Holder of this Note may elect to convert all, or any portion of the unpaid principal amount of this Note, during such thirty (30) day period.

 4. Transfer. Holder may transfer this Note in compliance with applicable U.S. federal and state and/or foreign securities laws
and in accordance with Article IV of the Exchange Agreement. 
 5. Events of Default. An “Event of Default” will
occur if: 
 (a) The Company fails to pay (a) any principal of this Note or any other Note issued pursuant
to the Exchange Agreement when such amount becomes due and payable in accordance with the terms thereof and such payment is not made within three Business Days of when it is due, or (b) any interest on the Note or any other payment of money
required to be made to the Holder pursuant to this Note and such payment is not made within three Business Days of when it is due and the Company receives notice thereof from the Holder; or 
 (b) Any representation or warranty made to the Holders in any Transaction Document or in any certificate, agreement or
instrument executed and delivered to the Holders by the Company or any of its subsidiaries or by its accountants or officers pursuant to any Transaction Document is false, inaccurate or misleading in any material respect on the date as of which
made, and the Company receives notice thereof from the Holder; or 
 (c) the Company or any of its subsidiaries
defaults in the performance of any term, covenant, agreement, condition, undertaking or provision of any Transaction Document, and such default is not cured or waived within five (5) Business Days after the Company receives notice of such
default from the Holder; or 
 (d) (i) The Company or any of its subsidiaries fails to pay any principal of
or interest on any of its Material Indebtedness for a period longer than the grace period, if any, provided for such payment; or (ii) any default under any instrument or agreement evidencing, creating, securing or otherwise relating to Material
Indebtedness (including, without limitation, any guaranty or assumption agreement relating to such indebtedness) or other event occurs and continues beyond any applicable notice and cure period and such default is not cured or waived within five
(5) Business Days after the Company receives notice of such default from the Holder (for purposes of this Note the term “Material Indebtedness” means indebtedness, in an amount of $50,000 or more, for borrowed money, under
capitalized leases or evidenced by a bond, debenture, note or similar instrument, and shall include, without limitation, any such indebtedness assumed or guaranteed); or 
  

 2 

 (e) (i) One or more final judgments, decrees or orders shall be entered
against the Company or any of its subsidiaries involving in the aggregate a liability (not fully covered by insurance other than applicable deductibles) of $50,000 or more and all such judgments, decrees or orders shall not have been vacated, paid
or discharged, dismissed, or stayed or bonded pending appeal (or other contest by appropriate proceedings) within sixty (60) days from the entry thereof; (ii) pursuant to one (1) or more judgments, decrees, orders, or other
proceedings, whether legal or equitable, any warrant of attachment, execution or other writ of $50,000 or more is levied upon any property or assets of the Company or any subsidiary and is not satisfied, dismissed or stayed (or other contests by
appropriate proceedings without bond or stay) within sixty (60) days; (iii) all or any substantial part of the assets or properties of the Company or any subsidiary are condemned, seized or appropriated by any government or governmental
authority; or (iv) any order is entered in any proceeding directing the winding up, dissolution or split-up of the Company or any subsidiary; or 
 (f) The Company (i) commences any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency,
reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution,
composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its assets, or (ii) is the debtor named in any
other case, proceeding or other action of a nature referred to in clause (i) above which results in the entry of an order for relief or any such adjudication or appointment and remains undismissed, undischarged or unbonded for a period of sixty
(60) days, or (iii) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence to, any order, adjudication or appointment of a nature referred to in clause (i) or (ii) above, or (iv) shall
generally not be paying, shall be unable to pay, or shall admit in writing its inability to pay its debts as they become due, or (e) shall make a general assignment for the benefit of its creditors; or 
 (g) At any time there occurs a Change of Control Transaction (a “Change of Control Transaction”). For
purposes of this Note, a Change of Control Transaction shall mean (i) a sale, lease or other disposition of assets or properties of the Company and it subsidiaries (calculated on a consolidated basis) having a book value of fifty-one percent
(51%) or more of the book value of all the assets and properties thereof, or (ii) any transaction in which any person shall directly or indirectly acquire from the holders thereof, by purchase or in a merger, consolidation or other
transfer or exchange of outstanding capital stock, ownership of or control over capital stock of the Company (or securities exchangeable for or convertible into such stock or interests) entitled to elect a majority of the Company’s Board of
Directors or representing at least fifty-one percent (51%) of the number of shares of Common Stock outstanding; or 
 (h) On or at any time after the date of this Note any of the Transaction Documents for any reason, other than a partial or full release in accordance with the terms thereof, ceases to be in full force and effect or is declared to be null
and void, and such default is not cured or waived within ten (10) days after the Company receives 
  

 3 

 notice of such default from the Holder, or (c) the Company or any subsidiary of the
Company contests the validity or enforceability of any Transaction Document in writing or denies that it has any further liability under any Transaction Document to which it is party, or gives notice to such effect. 
 6. Conversion Right. At any time prior to repayment of this Note, the Holder may elect, in lieu of repayment, to convert all or a portion of
the outstanding principal on this Note into that number of shares of Common Stock of the Company equal to the quotient obtained by dividing (a) 100.0% of the amount of principal on this Note being converted, by (b) the Conversion Price (as
hereinafter defined). The Holder will inform the Company of such election by delivering to the Company this Note and a Notice of Conversion, the form of which is attached hereto as Annex A (a “Notice of Conversion”). If the
Holder delivers the Notice of Conversion to the Company, the Company may not elect to pay to the Holder the amount of this Note to be converted without Holder’s written consent. For purposes of this Note, “Conversion Price”
will initially mean $             per share [Note: this price will be the sum of the “market value” of shares of Common Stock of the Company immediately preceding
the entering into by such Holder of the Exchange Agreement plus the Warrant Coverage Value, and for such purpose, “market value” means the consolidated closing bid price of the Company’s Common Stock as determined by applicable NASDAQ
rules and Warrant Coverage Value means a value of $.125 for each 100% of Warrant Coverage. “Warrant Coverage” means the number of shares of Common Stock issuable upon exercise of a Warrant. Warrant Coverage is expressed as a percentage
amount of this Note. Calculation of the number of shares based on the Warrant Coverage percentage is determined as follows: 
 [number of shares
issuable upon exercise of Warrant] = [principal amount of Note] x [Warrant Coverage percentage] / [Conversion Price]] 
 The Conversion Price
will be subject to adjustment as provided in Section 7. The Holder shall effect conversions by delivering to the Company a Notice of Conversion accompanied by this Note, specifying therein the principal amount of this Note to be converted. The
date on which such conversion shall be effected (such date, the “Conversion Date”) shall be the date of the Company’s actual receipt of a Notice of Conversion (substantially in the form attached hereto, the “Notice of
Conversion”) accompanied by this Note unless the Company and the Holder agree in writing to another date. Conversions hereunder shall have the effect of lowering the outstanding principal amount of this Note in an amount equal to the
applicable principal amount converted. If less than the entire principal amount of this Note is converted, the Company will promptly issue a new Note to the Holder representing the balance of this Note. From and after the Conversion Date, assuming
rightful delivery of the Notice of Conversion to the Company, the portion of this Note converted shall represent and be enforceable only as to the right to receive the shares of Common Stock issuable upon such conversion. Promptly after receipt of a
Notice of Conversion, the Company shall issue and deliver the Holder, but only against delivery of and after receiving the original of this Note (or a lost note affidavit in form and substance reasonably acceptable to the Company), one or more
certificates representing such shares of Common Stock issued and registered as set forth in the Notice of Conversion. Thereupon, the Company shall have no further obligation with respect to the principal amount of this Note converted. In lieu of
issuing a fraction of a share of Common Stock upon the conversion of this Note, the Company shall pay the Holder of this Note for any fraction of a share of Common Stock otherwise issuable upon the conversion of this Note, cash equal to the same
fraction of the then current per share Conversion Price. 
  

 4 

 7. Adjustments to Conversion Price. 
 (a) Stock Dividends, Reclassifications, Recapitalizations, Etc. In the event the Company: (i) pays a dividend in
Common Stock or makes a distribution in Common Stock, (ii) subdivides its outstanding Common Stock into a greater number of shares, (iii) combines its outstanding Common Stock into a smaller number of shares or (iv) increases or
decreases the number of shares of Common Stock outstanding by reclassification of its Common Stock (including a recapitalization in connection with a consolidation or merger in which the Company is the continuing corporation), then the
Conversion Price on the record date of such division or distribution or the effective date of such action shall be adjusted by multiplying such Conversion Price by a fraction, the numerator of which is the number of shares of Common Stock
outstanding immediately before such event and the denominator of which is the number of shares of Common Stock outstanding immediately after such event. 
 (b) Notice of Adjustment. Whenever the Conversion Price is adjusted, as herein provided, the Company shall deliver to the Holder a certificate of the Company’s Chief Financial Officer setting
forth, in reasonable detail, the event requiring the adjustment and the method by which such adjustment was calculated (including a description of the basis on which (i) the Board of Directors determined the fair value of any evidences of
indebtedness, other securities or property or warrants, options or other subscription or purchase rights and specifying the Conversion Price after giving effect to such adjustment. 
 (c) Notice of Certain Transactions. In the event that the Company shall propose (i) to pay any dividend payable
in securities of any class to the holders of its Common Stock or to make any other non-cash dividend or distribution to the holders of its Common Stock, (ii) to offer the holders of its Common Stock rights to subscribe for or to purchase any
securities convertible into shares of Common Stock or shares of stock of any class or any other securities, rights or options, (iii) to effect any capital reorganization, reclassification, consolidation or merger affecting the class of Common
Stock, as a whole, or (iv) to effect the voluntary or involuntary dissolution, liquidation or winding-up of the Company, the Company shall, within the time limits specified below, send to each Holder a notice of such proposed action or offer.
Such notice shall be mailed to the Holder at the Holder’s address as it appears in the records of the Company, which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance or event is
to take place and the date of participation therein by the holders of Common Stock, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Stock and the Conversion Price. Such notice shall be given as
promptly as possible and (x) in the case of any action covered by clause (i) or (ii) above, at least ten (10) days prior to the record date for determining holders of the Common Stock for purposes of such action or (y) in
the case of any other such action, at least twenty (20) days prior to the date of the taking of such proposed action or the date of participation therein by the holders of Common Stock, whichever shall be the earlier. 
  

 5 

 8. No Rights as a Shareholder. Without limiting any rights that Holder is entitled to under
the Exchange Agreement, and if this Note has not been converted, Holder will not be entitled to any voting or other rights as a shareholder of Company in connection with this Note. 
 [The following clause is optional at the request of the Purchaser of this Note, with the choice between 4.99% and 9.99% being at the option of the Purchaser.] 
 9. Limitation on Beneficial Ownership. Notwithstanding anything to the contrary contained herein, the number of shares of Common Stock that
may be acquired by the Holder upon any conversion of this Note (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such conversion (or other issuance), the total number of shares of Common Stock
then beneficially owned by such Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed
[9.999%][4.999%] of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For such purposes, beneficial ownership shall be determined in accordance with
Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. Each delivery of a Notice of Conversion hereunder will constitute a representation by the Holder that it has evaluated the limitation set forth in
this paragraph and determined that issuance of the full number of shares of Common Stock requested in such Notice of Conversion is permitted under this paragraph. This provision shall not restrict the number of shares of Common Stock which a Holder
may receive or beneficially own in order to determine the amount of securities or other consideration that such Holder may receive in the event of a merger or other business combination or reclassification involving the Company. This
restriction may not be waived without the consent of the Holder. 
 10. Remedies. At such time that an Event of Default has
occurred and is continuing, then Holder, by written notice to the Company (the “Notice”), may declare all amounts hereunder immediately due and payable in cash and Holder will be entitled to reimbursement of its reasonable costs and
expenses related to collection of all amounts owing in connection thereof. Except for the Notice, Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and Holder may immediately and
without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such election may be rescinded and annulled by Holder at any time prior to payment
hereunder. No such rescission or annulment will affect any subsequent Event of Default or impair any right consequent thereon. 
 11. Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder will be in writing and will be deemed given and effective on the earliest of (a) the date of
transmission if such notice or communication is delivered by fax prior to 5:30 p.m. (Eastern Time) on a Business Day, (b) the next Business Day after the date of transmission if such notice or communication is delivered via fax on a day that is
not a Business Day or later than 5:30 p.m. (Eastern Time) on a Business Day, (c) the 2nd business day after the date of mailing if sent by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The
facsimile number and address for such notices and communications are as set forth on the signature pages to the Exchange Agreement or as otherwise notified by any party in a writing to the others in accordance herewith from time to time. 

 

 6 

 12. Maximum Lawful Rate. In no event shall the amount of interest due or payments in the
nature of interest payable hereunder exceed the maximum non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). If from any possible construction of any document or from receipt of anything of value by Holder,
interest would otherwise be payable in excess of the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be
automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this
Note, or refunded to the Company or other payor thereof if and to the extent such excessive amount exceeds such unpaid principal amount. 
 SIGNED, SEALED AND DELIVERED as of the date first above written. 
  

			
	NEXXUS LIGHTING, INC.
		
	By:	 	  

	Name:	 	Gary R. Langford
	Title:	 	Chief Financial Officer

  

 7 

 NOTICE OF CONVERSION 
 The undersigned, the Holder of the Note issued by Nexxus Lighting, Inc. (attached to this Notice of Conversion), hereby elects to convert
the below stated outstanding principal portion of this Note into shares of Common Stock of Nexxus Lighting, Inc. effective as of the date the Company receives this Notice. 
 Please send a certificate for the appropriate number of shares of Common Stock and a balance Note (if applicable) to the following address:

  

					
	 	  		  	
			
	 	  		  	
			
	 	  		  	

 Principal Amount of Note Being Converted:
$                                         
                            
 Register and issue certificates for shares of Common Stock in the following Name at the Address set forth above or, if different, as set forth below: 
  

			
	Name:	 	 
		
	Address:	 	 
	
	 
	
	 

 Social Security or Tax Identification
Number:                                        
                             
 Print Name of Note
Holder:                                        
                                         
    
  

					
	 	 		  	
	Signature of Note Holder	 		  	

 Date:                                      
                                       
 PLEASE SEND THIS BY U.S. MAIL OR OVERNIGHT DELIVERY SERVICE TO THE COMPANY. THE EFFECTIVE DATE FOR CONVERSION SHALL BE THE DATE ON WHICH THE COMPANY
RECEIVES THIS NOTICE OF CONVERSION ACCOMPANIED BY THE NOTE. 
  

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]