X0202 4/A 2006-06-12 2006-06-14 0 0001065860 ELECTRIC CITY CORP ELCY 0001186254 ASPLUND DAVID R 1280 LANDMEIER RD ELK GROVE VILLAGE IL 60007 0 1 0 0 CEO Option to purchase Electric City Corp Common Stock 0.62 2006-06-12 4 A 0 1000000 0.62 A 2007-01-22 2016-01-22 Electric City Corp Common Stock 1000000 1650000 D Option to purchased Electric City Corp Common Stock 2006-06-12 4 A 0 1500000 A 2008-01-22 2016-01-22 Electric City Corp Common Stock 1500000 3150000 D Options to purchase Electric City Corp Common Stock 2006-06-12 4 A 0 1500000 A 2009-01-22 2016-01-22 Electric City Corp Common Stock 1500000 4650000 D Quantities and exercise prices have not been adjusted for the 1 for 15 reverse split effected on June 15, 2006 Issued persurent to employment agreement. The exercise price shall be at a price per share equal to the higher of (x) the average closing price of the Company's common stock as measured over the thirty (30) trading day period prior to January 22,2007 or (y) the closing price of the Company's common stock on January 22, 2007 shall be at a price per share equal to the higher of (x) the average closing price of the Company's common stock as measured over the thirty (30) trading day period prior to January 22,2008 or (y) the closing price of the Company's common stock on January 22,2008. Tammy Koeller, by power of attorney 2006-07-13