SEC Contract Filing

Filing Date: 2020-12-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex10x4.htm
<DESCRIPTION>BD1 EXCHANGE NOTE DATED DECEMBER 19, 2020 ($160,000 PRINCIPAL)
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 10.4<B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I)&nbsp;IN THE ABSENCE OF (A)&nbsp;AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR (B)&nbsp;AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A
GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II)&nbsp;UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
 <TD STYLE="width: 47%; padding-right: 0.8pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD STYLE="width: 12%; padding-right: 0.8pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD STYLE="width: 41%; padding-right: 0.8pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
 <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 0.8pt"><FONT STYLE="font-size: 11pt"><B>Principal Amount: $160,000.00<BR>
<BR>
</B></FONT></TD>
 <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0.8pt">&nbsp;</TD>
 <TD STYLE="vertical-align: top; text-align: right">Issue Date: December 18, 2020<BR STYLE="mso-special-character: line-break"> <BR STYLE="mso-special-character: line-break"></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-align: center"><B><U>UNSECURED CONVERTIBLE PROMISSORY
NOTE</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-align: justify; text-indent: 0.5in"><B>FOR VALUE
RECEIVED, ASCENT SOLAR TECHNOLOGIES, INC.</B>, a Delaware corporation (hereinafter called &#8220;<B>Borrower</B>&#8221;), hereby
promises to pay to <B>BD 1 Investment Holding, LLC,</B> a Delaware limited liability company, or its assigns (the &#8220;<B>Holder</B>&#8221;
and together with the Borrower, the &#8220;<B>Parties</B>&#8221;) or order, without demand, the sum of One Hundred Sixty Thousand
Dollars ($160,000.00) (&#8220;<B>Principal Amount</B>&#8221;), without accrued interest on the unpaid principal balance hereof
and maturing on December 18, 2025 (the &#8220;<B>Maturity Date</B>&#8221;) together with fees incurred or other amounts owing hereunder,
all as set forth below in this Promissory Note (this &#8220;<B>Note</B>&#8221; or this &#8220;<B>Agreement</B>&#8221;), if not
sooner paid. All payments due hereunder (to the extent not converted into the Borrower&#8217;s common stock, $.0001 par value per
share (the &#8220;<B>Common Stock</B>&#8221;) in accordance with the terms hereof), shall be made in Common Stock equal to the
Conversion Price as stipulated in Clause 2.1(b) and such payments shall be applied to amounts owing under the Note by Holder, in
its sole discretion.&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-align: justify; text-indent: 0.5in">This Note is
free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights
or other similar rights of shareholders of the Borrower and will not impose personal liability upon the Holder thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-indent: 0.5in">The following terms shall apply to
this Note:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLE I</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>GENERAL PROVISIONS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-align: justify; text-indent: 0.5in"><B>1.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
Grace Period</U>.</B> The Borrower shall have a five (5)&nbsp;day grace period to pay any monetary amounts due under this Note,
after which grace period a default interest rate of ten percent (10%) per annum shall apply from the due date thereof until the
same is paid (&#8220;<B>Default Interest</B>&#8221;).&nbsp;&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>1.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Original
Issue Discount</U>.</B> The Borrower acknowledges that the Principal Amount of this Note exceeds the Purchase Price for this Note
and that such excess is an original issue discount and shall be fully earned and charged to the Borrower upon the execution of
this Note, and shall be paid to the Holder as part of the outstanding principal balance as set forth in this Note.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12.35pt 0 0; text-align: justify; text-indent: 0.5in"><B>1.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Application
of Payments</U>.</B> The Borrower acknowledges that the payments made in connection with this Note shall be applied first to collection
expenses