SEC Contract Filing

Filing Date: 2015-08-10

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>t82881_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 10.3</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXCHANGE AGREEMENT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This <B>EXCHANGE AGREEMENT
</B>(the &ldquo;<B>Agreement</B>&rdquo;), dated as of June 25, 2015, is made by and among Real Goods Solar, Inc., a Colorado corporation,
with headquarters located at 833 West South Boulder Road, Louisville, CO 80027 (the&nbsp;&ldquo;<B>Company</B>&rdquo;), and the
Company investor listed on the signature page attached hereto (the &ldquo;<B>Holder</B>&rdquo;). Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement (as defined
below).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to that certain
Securities Purchase Agreement (&ldquo;<B>Securities</B> <B>Purchase Agreement</B>&rdquo;) dated as of February 23, 2015, by and
among the Company, the Holder and certain other investors party thereto (the &ldquo;<B>Other Holders</B>&rdquo; and together with
the Holder, the &ldquo;<B>Holders</B>&rdquo;), the Company sold to the Holders (i) shares (the &ldquo;<B>Common Shares</B>&rdquo;)
of the Company&rsquo;s Class A common stock, par value $0.0001 per share (the &ldquo;<B>Common Stock</B>&rdquo;) and (ii) among
other warrants issued pursuant to the Securities Purchase Agreement, the Series A warrants in substantially the form attached as
<U>Exhibit A</U> to the Securities Purchase Agreement (the &ldquo;<B>Series A Warrants</B>&rdquo;) and the Series C warrants in
substantially the form attached as <U>Exhibit A</U> to the Securities Purchase Agreement (the &ldquo;<B>Series C Warrants</B>&rdquo;
and together with the Series A Warrants, the &ldquo;<B>Warrants</B>&rdquo;), in each case, representing the right to acquire additional
shares of Common Stock (the Series A Warrants as exercised, collectively, the &ldquo;<B>Series A</B> <B>Warrant Shares</B>&rdquo;
and the Series C Warrants as exercised, collectively, the &ldquo;<B>Series C</B> <B>Warrant Shares</B>&rdquo; and together with
the Series A Warrant Shares, the &ldquo;<B>Warrant Shares</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company and the Holder
desire to exchange all of the Warrants held by the Holders for shares of Common Stock (the &ldquo;<B>Exchange Shares</B>&rdquo;)
pursuant to the terms hereof in a transaction undertaken in reliance upon the exemption from registration provided by Section 3(a)(9)
of the Securities Act of 1933, as amended (the &ldquo;<B>1933 Act</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is negotiating,
and intends to implement, the exchange of certain other Warrants issued pursuant to the Securities Purchase Agreement that are
currently outstanding by entering into agreements (the &ldquo;<B>Other Agreements</B>&rdquo;) in the same form as this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>, in
consideration of the foregoing mutual premises and the covenants and agreements hereinafter set forth, and for other good and valuable
consideration, the receipt, and legal adequacy of which is hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><FONT STYLE="text-transform: none">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="text-transform: none"><U>ISSUANCE</U></FONT><U> OF EXCHANGE SHARES</U><FONT STYLE="text-transform: none">.
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Subject to the satisfaction
(or waiver) of the conditions set forth in Sections 4 and 5 below, the Company and the Holder hereby agree that o