SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • June 29th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • New York
This Securities Purchase Agreement (this “Agreement”) is dated as of June 28, 2021, between Communications Systems, Inc., a Minnesota corporation (the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser” and collectively, the “Purchasers”).
Communications Systems, Inc. WARRANT TO PURCHASE COMMON STOCKCommunications Systems Inc • June 29th, 2021 • Telephone & telegraph apparatus • New York
Communications Systems, Inc., a Minnesota corporation (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, , the registered holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, at any time or times on or after the Issuance Date, but not after 11:59 p.m., New York time, on the Expiration Date, the Warrant Shares (as defined below). Except as otherwise defined herein, capitalized terms in this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”), shall have the meanings set forth in Section 12. This Warrant is one of the Warrants to Purchase Common Stock (the “Warrants”) issued in connection with the transactions contemplated by that certain Securities Purchase Agreement
SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • February 5th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus • New York
This Securities Purchase Agreement (this “Agreement”) is dated as of February ___, 2024, between Pineapple Energy, Inc., a Minnesota corporation (the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser” and collectively the “Purchasers”).
REGISTRATION RIGHTS AGREEMENTRegistration Rights Agreement • June 29th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • New York
This REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made as of June 28, 2021 by and among Communications Systems, Inc., a Minnesota corporation (the “Company”), and the several purchasers signatory hereto (each, a “Purchaser” and collectively, the “Purchasers”).
PINEAPPLE ENERGY INC. CHANGE IN CONTROL AGREEMENTChange in Control Agreement • December 9th, 2022 • Pineapple Energy Inc. • Telephone & telegraph apparatus • Minnesota
This CHANGE IN CONTROL Agreement is entered into effective as of the 5th day of December, 2022 (the “Effective Date”) by and between PINEAPPLE ENERGY INC., a Minnesota corporation (the “Company”), and Kyle Udseth (the “Executive”).
CONTINGENT VALUE RIGHTS AGREEMENTContingent Value Rights Agreement • March 29th, 2022 • Pineapple Holdings, Inc. • Telephone & telegraph apparatus • Minnesota
THIS CONTINGENT VALUE RIGHTS AGREEMENT, dated as of March 25, 2022 (this “Agreement”), by and among COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (the “Parent”), Equiniti Trust Company, as Rights Agent (the “Rights Agent”), and Richard A. Primuth, in his capacity as the initial CVR Holders’ Representative (the “CVR Holders’ Representative”).
EMPLOYMENT AGREEMENTEmployment Agreement • December 9th, 2022 • Pineapple Energy Inc. • Telephone & telegraph apparatus • Minnesota
This Employment Agreement (“Agreement”) is effective as of the 5th day of December, 2022 (“Effective Date”), by and between Pineapple Energy Inc., a Minnesota corporation (the “Company”) and Eric Ingvaldson (the “Employee”).
AT THE MARKET OFFERING AGREEMENTMarket Offering Agreement • October 21st, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus • New York
Pineapple Energy Inc., a corporation organized under the laws of Minnesota (the “Company”), confirms its agreement (this “Agreement”) with Roth Capital Partners, LLC (the “Manager”) as follows:
SECURITIES PURCHASE AGREEMENT by and between LANTRONIX, INC., as Purchaser, and COMMUNICATIONS SYSTEMS, INC., as Seller April 28, 2021Securities Purchase Agreement • April 29th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Delaware
THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made as of April 28, 2021, by and between LANTRONIX, INC., a Delaware corporation (“Purchaser”), and COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (“Seller”).
SECURED CREDIT AGREEMENTSecured Credit Agreement • July 26th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus • New York
This Secured Credit Agreement (this “Agreement”) is made on July 22, 2024 (“Effective Date”) between Pineapple Energy, Inc., a Minnesota corporation having an office located at 10900 Red Circle Drive, Minnetonka, Minnesota 55343 (“Borrower”) and MBB Energy, LLC, a New York limited liability company having an office located at 171 Remington Boulevard, Ronkonkoma, New York 11779 ( “Lender”).
SECURITY AGREEMENTSecurity Agreement • July 26th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus • New York
This Security Agreement (this “Agreement”) is made on July 22, 2024 (“Effective Date”) by PINEAPPLE ENERGY, INC., a Minnesota corporation having an office located at 10900 Red Circle Drive, Minnetonka, Minnesota 55343 (“Debtor”) in favor of CONDUIT CONDUIT CAPITAL U.S. HOLDINGS LLC, a Delaware limited liability company having an office located at 1451 Fort Cassin Road, Ferrisburg, Vermont 05456 (“Secured Party”).
AMENDED AND RESTATED SECURITY AGREEMENTSecurity Agreement • August 18th, 2016 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
THIS AMENDED AND RESTATED SECURITY AGREEMENT (this “Agreement”) is entered into as of August 12, 2016, by and among Communications Systems, Inc., a Minnesota corporation (“Communications Systems”), JDL Technologies, Incorporated, a Minnesota corporation (“JDL”), Transition Networks, Inc., a Minnesota corporation (“Transition Networks”), and Suttle, Inc., a Minnesota corporation (“Suttle”, together with Communications Systems, JDL and Transition Networks, “Grantors” and each a “Grantor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”).
PINEAPPLE ENERGY LLC SUBSCRIPTION AGREEMENTSubscription Agreement • January 26th, 2022 • Communications Systems Inc • Telephone & telegraph apparatus • Delaware
This SUBSCRIPTION AGREEMENT (this “Agreement”) is entered into as of December 16, 2021 by and between Pineapple Energy LLC, a Delaware limited liability company (the “Company”), and Lake Street Solar LLC, a Delaware limited liability company (“Subscriber”).
EMPLOYMENT AGREEMENTEmployment Agreement • March 31st, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
This Employment Agreement (“Agreement”) is effective as of the 1st day of December 2020 (“Effective Date”), by and between Communications Systems, Inc., a Minnesota corporation (the “Company”) and Anita Kumar (the “Employee”).
AMENDMENT AND JOINDER TO SUBORDINATION AGREEMENTSubordination Agreement • July 26th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus
THIS AMENDMENT AND JOINDER TO SUBORDINATION AGREEMENT (this “Amendment”) is made as of July [22], 2024, among Pineapple Energy Inc. (f/k/a Pineapple Holdings, Inc.), a Minnesota corporation (“Debtor”), Decathlon Growth Credit, LLC, a Delaware limited liability company (the “Senior Creditor”), Hercules Capital, Inc. (the “Subordinating Creditor”), and MBB Energy, LLC and Conduit Capital U.S. Holdings LLC(each, “Third Position Creditor” and a collectively, the “Third Position Creditors”).
Voting AgreementVoting Agreement • March 3rd, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
VOTING AGREEMENT, dated as of March 1, 2021 (this “Agreement”), by and among Pineapple Energy LLC, a Delaware limited liability company (“Pineapple”), Communications Systems, Inc., a Minnesota corporation (“Parent”), and the undersigned holders (the “Shareholders” and each, a “Shareholder”) of capital stock of Parent. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Merger Agreement (as hereinafter defined).
SECURITY AGREEMENT: SECURITIES ACCOUNTSecurity Agreement • September 3rd, 2020 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
This Agreement amends and restates in its entirety, and is given as a replacement for, and not in satisfaction of or as a novation with respect to, that certain Amended and Restated Security Agreement dated as of August 12, 2016 among Debtor, JDL Technologies, Incorporated, Suttle, Inc., Transition Networks, Inc. and Bank (as amended to date, the “Original Security Agreement”). It is the intent of the parties hereto that the security interests and liens granted in any collateral under and pursuant to the Original Security Agreement shall continue in full force and effect to the extent set forth herein.
COMMUNICATIONS SYSTEMS, INC. and WELLS FARGO BANK, N.A. Rights Agent RIGHTS AGREEMENT Dated as of December 23, 2009Rights Agreement • December 30th, 2009 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
RIGHTS AGREEMENT, dated as of December 23, 2009 (the “Agreement”), between Communications Systems, Inc., a Minnesota corporation (the “Company”), and Wells Fargo Bank, N.A., a Minnesota corporation (the “Rights Agent”).
AMENDMENT TO SECURED CREDIT NOTESecured Credit Note • November 14th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus
This Amendment is made on November 1, 2024, and is retroactive to July 22, 2024 (the “Effective Date”), between Pineapple Energy, Inc. (“Borrower”) and MBB Energy, LLC (“Lender”). This Amendment amends the Secured Credit Note, dated July 22, 2024 between Borrower and Lender (the “Credit Note”) as provided herein, and to the defined term of the Secured Credit Agreement set forth below. Capitalized terms used in this Amendment shall have the meanings ascribed to them in the Credit Note, other than as set forth below.
consent and amendment to LOAN AND SECURITY AGREEMENTLoan and Security Agreement • January 26th, 2022 • Communications Systems Inc • Telephone & telegraph apparatus • California
THIS CONSENT AND AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made and dated as of December 16, 2021 and is entered into by and between PINEAPPLE ENERGY LLC, a Delaware limited liability company, for itself and on behalf of any Subsidiary (collectively, “Borrower”), and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as Lender (“Lender”) and as administrative agent and collateral agent for itself and the Lender (in such capacity, “Agent”).
WORKING CAPITAL LOAN AND SECURITY AGREEMENTWorking Capital Loan and Security Agreement • November 12th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • California
THIS WORKING CAPITAL LOAN AND SECURITY AGREEMENT is made and dated as of January 8, 2021 and is entered into by and between PINEAPPLE ENERGY LLC, a Delaware limited liability company, for itself and on behalf of any Subsidiary (collectively, “Borrower”), and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent (in such capacity, the “Agent”) for itself and the Lenders set forth on Schedule 1.1 attached hereto (the “Lenders”).
WORKING CAPITAL LOAN AND SECURITY AGREEMENTJoinder Agreement • January 26th, 2022 • Communications Systems Inc • Telephone & telegraph apparatus • California
THIS FIRST AMENDMENT TO WORKING CAPITAL LOAN AND SECURITY AGREEMENT (the “Amendment”) is entered into and made effective as of December 16, 2021 (the “Effective Date”) by and between PINEAPPLE ENERGY LLC, a Delaware limited liability company, for itself and on behalf of any Subsidiary (collectively, “Borrower”), and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent (in such capacity, the “Agent”) for itself and the Lenders set forth on Schedule 1.1 attached to the Loan Agreement (the “Lenders”).
THIRD AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING NOTECredit Agreement • November 6th, 2014 • Communications Systems Inc • Telephone & telegraph apparatus
This Third Amendment to Credit Agreement and First Amendment to Amended and Restated Revolving Note (this “Amendment”), dated as of October 31, 2014, is entered into by and between COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (“Communications Systems”), JDL TECHNOLOGIES, INCORPORATED, a Minnesota corporation (“JDL”), TRANSITION NETWORKS, INC., a Minnesota corporation (“Transition Networks”, together with Communications Systems and JDL, “Borrowers” and each a “Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”).
ASSET PURCHASE AGREEMENTAsset Purchase Agreement • November 12th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Delaware
This Agreement (this “Agreement”) is entered into on March 1, 2021, by and among (i) Hawaii Energy Connection, LLC, a Hawaii limited liability company, and E-Gear, LLC, a Hawaii limited liability company (each a “Seller” and together, the “Company”), (ii) Steven P. Godmere, a resident of the State of Hawaii, as representative for the Sellers (the “Seller Representative”), and (iii) Pineapple Energy LLC, a Delaware limited liability company (“Buyer”). Buyer, the Sellers and the Seller Representative are referred to collectively hereinafter as the “Parties.”
REVOLVING LINE OF CREDIT NOTECommunications Systems Inc • November 10th, 2011 • Telephone & telegraph apparatus • Minnesota
FOR VALUE RECEIVED, the undersigned COMMUNICATIONS Systems, Inc., a Minnesota corporation (“Communications Systems”), JDL TECHNOLOGIES, INCORPORATED, a Minnesota corporation (“JDL”), TRANSITION NETWORKS, INC., a Minnesota corporation (“Transition Networks”; together with Communications Systems and JDL, “Borrowers” and each a “Borrower”), promises to pay on November 1, 2013 (the “Maturity Date”) to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”) at its office at 7900 Xerxes Avenue S., Suite 2300, Bloomington, MN 55431, Minnesota, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of TEN MILLION Dollars ($10,000,000), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of its disbursement as set forth herein.
FIRST AMENDMENT TO CREDIT AGREEMENTCredit Agreement • November 5th, 2020 • Communications Systems Inc • Telephone & telegraph apparatus
THIS AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated October 29 , 2020, is entered into by and between COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
AGREEMENt and plan of merger dated as of March 1, 2021Agreement and Plan of Merger • March 3rd, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
FIFTH AMENDMENT TO CREDIT AGREEMENT, FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING NOTE AND WAIVER OF EVENTS OF DEFAULTCredit Agreement • August 7th, 2015 • Communications Systems Inc • Telephone & telegraph apparatus
This Fifth Amendment to Credit Agreement, First Amendment to Amended and Restated Revolving Note and Waiver of Event of Default (this “Amendment”), dated as of August 7, 2015, is entered into by and between COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (“Communications Systems”), JDL TECHNOLOGIES, INCORPORATED, a Minnesota corporation (“JDL”), TRANSITION NETWORKS, INC., a Minnesota corporation (“Transition Networks”), and SUTTLE, INC., a Minnesota corporation (“Suttle”; together with Communications Systems, JDL and Transition Networks, “Borrowers” and each a “Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
GUARANTYCommunications Systems Inc • August 18th, 2016 • Telephone & telegraph apparatus • Minnesota
CONSENT AND AMENDMENT NO. 2 TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • June 6th, 2023 • Pineapple Energy Inc. • Telephone & telegraph apparatus • California
THIS CONSENT AND AMENDMENT NO. 2 TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made and dated as of May 31, 2023 and is entered into by and among PINEAPPLE ENERGY LLC (“PE LLC”), a Delaware limited liability company, for itself and on behalf of any Subsidiary, and each other Person that has delivered a Joinder Agreement pursuant to Section 7.12 or otherwise from time to time party hereto (together with PE LLC, individually or collectively, as the context may require “Borrower”), and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as Lender (“Lender”) and as administrative agent and collateral agent for itself and the Lender (in such capacity, “Agent”).
AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENTAsset Purchase Agreement • January 26th, 2022 • Communications Systems Inc • Telephone & telegraph apparatus • Delaware
This AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT (this “Amendment”) is entered into as of December 16, 2021 by and among (i) Hawaii Energy Connection, LLC, a Hawaii limited liability company, and E-Gear, LLC, a Hawaii limited liability company (each a “Seller” and together, the “Company”), (ii) Steven P. Godmere, a resident of the State of Hawaii, as representative for the Sellers (the “Seller Representative”), and (iii) Pineapple Energy LLC, a Delaware limited liability company (“Buyer”).
CREDIT AGREEMENTCredit Agreement • September 3rd, 2020 • Communications Systems Inc • Telephone & telegraph apparatus • Minnesota
THIS CREDIT AGREEMENT (this “Agreement”) dated August 28, 2020, is by and between COMMUNICATIONS SYSTEMS, INC., a Minnesota corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
SECOND AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENTRevenue Loan and Security Agreement • November 14th, 2024 • Pineapple Energy Inc. • Telephone & telegraph apparatus
This second amendment (this “Amendment”) to that certain Revenue Loan and Security Agreement dated June 1, 2023, as amended by the First Amendment executed on or about July 18, 2024 (as amended, the “Agreement”), by and among Pineapple Energy Inc. (the “Company”), the parties listed under the heading “Guarantors” on the signature pages attached hereto (each, a “Guarantor,” collectively, the “Guarantors;” each of Company and each Guarantor are referred to herein as a “Company Entity,” and together as the “Company Entities”), and Decathlon Specialty Finance, LLC, a Delaware limited liability company is effective September 12, 2024 (the “Second Amendment Date”). Decathlon Specialty Finance, LLC has assigned the Agreement to Decathlon Growth Credit, LLC (“Lender”). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.
FIRST AMENDMENT OF THE COMMUNICATIONS SYSTEMS, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUSTEmployee Stock Ownership Plan And • March 15th, 2012 • Communications Systems Inc • Telephone & telegraph apparatus
THIS AGREEMENT, amending the Communications Systems, Inc. Employee Stock Ownership Plan and Trust, is adopted by Communications Systems, Inc., a Minnesota corporation, (the “Employer”), and Curtis A. Sampson, William G. Schultz and David T. McGraw (collectively, the “Trustee”).
EMPLOYMENT AGREEMENT (Kyle Udseth)Employment Agreement • November 12th, 2021 • Communications Systems Inc • Telephone & telegraph apparatus • Missouri
This EMPLOYMENT AGREEMENT (this “Agreement”) dated as of February 10, 2021 (the “Effective Date”), by and between Pineapple Energy LLC, a Delaware limited liability company (the “Company”), and Kyle Udseth (the “Employee”), an individual and resident of the state of Minnesota (the Company and the Employee each a “Party” and together the “Parties”).
