SEC Contract Filing

Filing Date: 2019-11-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10120191022bellridgeexch.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s493CA93D9CBB30901EB25CDE2F2DFFB3"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.1</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXCHANGE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Exchange Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into as of the 22</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">nd</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;day of October, 2019, by and among Ascent Solar Technologies, Inc., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the investor signatory hereto (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Holder</font><font style="font-family:inherit;font-size:12pt;">&#8221;), with reference to the following facts: </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;On 30</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;day of November, 2017, the Company issued to the Holder an unsecured promissory note of $250,000, in accordance with the terms of thereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Note</font><font style="font-family:inherit;font-size:12pt;">&#8221;). As of the date hereof, the Note remained outstanding with a balance of $226,000.00 plus accrued interest of $51,342.25 and due for immediate payment per the Holder&#8217;s demand. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;The Company and the Holder desires (a) to exchange (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exchange</font><font style="font-family:inherit;font-size:12pt;">&#8221;) the Note for a convertible note, convertible into shares of the Company&#8217;s common stock, $0.0001 par value per share (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221;), in accordance with the terms of thereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Convertible Note</font><font style="font-family:inherit;font-size:12pt;">&#8221;, as converted the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Conversion Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in the attached hereto as </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:12pt;">, and (b) to cancel the Note (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Cancellation</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Convertible Note, this Agreement and such other documents and certificates related thereto are collectively referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exchange Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">D. &#160;&#160;&#160;&#160;Each of the Company and the Holder desire to effectuate the Exchange and the Cancellation on the basis and subject to the terms and conditions set forth in this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">E. &#160;&#160;&#160;&#160;The Exchange is being made in reliance upon the exemption from registration provided by Section&#160;3(a)(9) of the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Securities Act</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">F. &#160;&#160;&#160;&#160;Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Securities Purchase Agreements.</font></div><div style="line-height:120