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<ACCESSION-NUMBER>0001171843-11-001413
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<PERIOD>20110504
<ITEMS>2.02
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20110510
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<CONFORMED-NAME>ENERGY CONVERSION DEVICES INC
<CIK>0000032878
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<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
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<FILE-NUMBER>001-08403
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<BUSINESS-ADDRESS>
<STREET1>3800 LAPEER ROAD
<CITY>AUBURN HILLS
<STATE>MI
<ZIP>48326
<PHONE>248-475-0100
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<STREET1>3800 LAPEER ROAD
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<FORMER-CONFORMED-NAME>ENERGY CONVERSION LABORATORIES INC
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<FILENAME>f8k_051011.htm
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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED STATES</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision (see General Instruction A.2 below):</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May 10, 2011, Energy Conversion Devices, Inc. (the &#8220;Company&#8221;) issued a press release announcing its consolidated financial results for the fiscal quarter ended March 31, 2011.&#160;&#160;A copy of the press release is furnished as Exhibit 99.1 to this report.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the &#8220;Exchange Act&#8221;), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Resignation of CEO and Board Member Mark D. Morelli</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 6, 2011, Energy Conversion Devices, Inc., (the &#8220;Company&#8221;) entered into an Employment Separation Agreement dated as of May 6, 2011 (the &#8220;Separation Agreement&#8221;) with Mark D. Morelli, the Company&#8217;s current Chief Executive Officer (&#8220;CEO&#8221;) and a member of the Company&#8217;s board of directors (the &#8220;Board&#8221;).&#160;&#160;&#160;Pursuant to the terms of the Separation Agreement, Mr. Morelli resigned from his positions as CEO and as a member of the Board effective as of May 6, 2011 (the &#8220;Termination Date&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Separation Agreement implements substantially the terms applicable to Mr. Morelli arising from a &#8220;Qualifying Termination&#8221; under the Company&#8217;s Executive Severance Plan, but eliminates outplacement services and change-in-control benefits to which Mr. Morelli would have otherwise been entitled potentially totaling approximately $950,000.&#160;&#160;The Separation Agreement also confirms Mr. Morelli&#8217;s obligations under the Executive Severance Plan&#8217;s restrictive covenants, but modifies the definition of Competitive Activities to &#8220;business activities related, in whole or in part, to the development, design, manufacture or sale of photovoltaic products anywhere in the world&#8221; and permits Mr. Morelli to become associated with a business engaged in Competitive Activities, so long as he does not render any services, directly or indirectly, in connection with any Competitive Activities.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the Separation Agreement, Mr. Morelli is entitled to:</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">payments in the amount of two years base salary totaling $970,000, of which $583,270 is payable as a lump sum following his execution and non-revocation of a release agreement, and the remaining $386,730 is payable over 18 months commencing November 11, 2011,&#160;&#160;and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">payments equal to his pro-rata current year bonus plus two years of target bonus totaling approximately $1 million, payable on November 7, 2011.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Separation Agreement also confirms that under the terms of Mr. Morelli&#8217;s existing equity awards:</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">his outstanding 91,600 stock options shall be immediately vested and exercisable until the sixth month anniversary of May 6, 2011;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">his 127,720 restricted stock units are immediately vested and payable as described in the applicable restricted stock unit agreements; and</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The foregoing description is qualified in its entirety by reference to the Separation Agreement filed as Exhibit 10.1 attached hereto and incorporated herein by reference.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Mr. Morelli&#8217;s resignation did not result from any disagreement with the Company or any matter relating to the Company&#8217;s operations, policies or practices.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Appointment of Jay B. Knoll as Interim President</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In connection with the resignation of Mr. Morelli, the Board appointed, effective as of May 6, 2011, Jay Knoll, age 47, to serve as Interim President pending the appointment of a successor President and Chief Executive Officer or until otherwise directed by the Board.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Before being appointed to Interim President, Mr. Knoll served as Executive Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the Company. Mr. Knoll previously served as Senior Vice President, General Counsel and Chief Administrative Officer from October 2007 until August 2009 when he was appointed Executive Vice President. Mr. Knoll joined the Company in 2006 as Vice President and General Counsel.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Mr. Knoll&#8217;s base salary was increased to $335,000.&#160;&#160;In addition, Mr. Knoll became a participant under the Senior Management Retention Plan described below with a retention benefit equal to 75% of his base salary.&#160;&#160;Mr. Knoll has no family relationships with any other executive officer or director of the Company and, other than his current compensatory arrangement, has not entered into any related party transactions involving the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 4, 2011, the Board established a Senior Management Retention Plan (the &#8220;Plan&#8221;) to provide additional incentive compensation for the five members of the Company&#8217;s senior leadership team and up to seven additional key employees. Under the terms of the Plan, plan participants are eligible to receive a benefit equal to up to 75% of their base salary, one half of which will be payable in cash and one-half will be paid in the form of restricted stock units.&#160;&#160;The retention benefit will be payable on the first anniversary of a participant&#8217;s retention agreement if the participant remains employed by the Company as of that date or upon a Qualifying Termination under the Executive Severance Plan.&#160;&#160;In addition to Mr. Knoll, each of the Company&#8217;s four remaining executive officers, Executive Vice President - Global Sales and Marketing, Ted Amyuni, Executive Vice President and Chief Financial Officer, William C. (Kriss) Andrews, Executive Vice President - Operations, Joseph Conroy and Executive Vice President, PV Technology, Subhendu Guha, are eligible to participate in the Plan.&#160;&#160;The specific terms of awards under the Plan will be determined under individual participation agreements with participating executives.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ENERGY CONVERSION DEVICES, INC.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Jay B. Knoll</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

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<DESCRIPTION>EXHIBIT 10.1
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This Separation Agreement (this &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Agreement</font>&#8221;) is dated May 6, 2011, between Energy Conversion Devices, Inc. (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;) and Mark Morelli (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Morelli</font>&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Recitals</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Morelli is a participant in the Company&#8217;s Executive Severance Plan, effective July 24, 2007 and as amended through September 30, 2008 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Plan</font>&#8221;).&#160;&#160;Capitalized terms used, and not otherwise defined in this Agreement, will have the meanings ascribed to them in the Plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement is intended to implement the Plan and the Participation Agreement in connection with such termination, subject only to those modifications expressly set forth in this Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Confirmation of Certain Benefits</font>.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule A</font> contains a complete and accurate summary of the base salary and bonus benefits to which Morelli is entitled under Section 4.1 of the Plan, which will be payable as provided in Section 2(a) below.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule B</font> contains a complete and accurate summary of the awards granted to Morelli under the Company&#8217;s various equity incentive plans that are outstanding as of the date of this Agreement.&#160;&#160;Further, the parties confirm that, in accordance with and subject to Section 4.3 of the Plan, (1) the stock options described on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule B</font> are vested and exercisable until the sixth month anniversary of the Termination Date, (2) the restricted stock units described on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule B</font> will vest immediately on the Termination Date and be paid as described in the applicable restricted stock unit agreements, and (3) the performance stock units described on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule B</font> and granted pursuant to the Performance Share Award Agreement dated January 25, 2011 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">PSA Agreement</font>&#8221;) will vest on a pro rata basis (i.e., 4/30 of the award based on the</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">duration of Morelli&#8217;s service during the performance period under the PSA Agreement) and be paid on the payment date specified in the PSA Agreement if the relevant performance metrics are achieved.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Certain Additional Provisions</font>.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The base salary and bonus benefits to which Morelli is entitled under Section 4.1 of the Plan will be payable on the dates and in the amounts set forth on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule A.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding the terms of the Plan, Morelli agrees that, in the event that a Change in Control (or an agreement to enter into a Change of Control which is ultimately consummated) occurs within 1 year of the Termination Date, he will not be entitled to receive, and he hereby waives all rights to, any additional payments other than as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule A</font>, including any additional payments that would be made under the Plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Recognizing Morelli&#8217;s medical and dental benefits under Section 4.2 of the Plan, the Company confirms that, if Morelli relocates to another State, he will be entitled to transition his medical and dental benefits under Section 4.2 of the Plan to the appropriate PPO plan maintained by the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Morelli waives any right to outplacement services under Section 4.4 of the Plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The first sentence of Section 5.2(b) of the Plan is deleted and replaced <font style="DISPLAY: inline; FONT-STYLE: italic">with the following: &#8220;&#8217;Competitive Activities&#8217; means business activities related, in whole or in part, to the development, design, manufacture or sale of photovoltaic products anywhere in the world.&#160;&#160;Notwithstanding the foregoing, Participant shall not be prohibited from becoming associated with a business engaged in Competitive Activities, so long as Participant is not rendering services, directly or indirectly, in connection with any Competitive Activities.&#8221;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company will, to the full extent required under the Company&#8217;s governance documents, indemnify, defend and hold harmless Morelli with respect to all his acts and omissions that occur on or before the Termination Date in his capacity as an officer, director or employee of the Company (&#8220;Official Acts&#8221;), to the full extent that would apply if Morelli continued as an officer, director or employee of the Company.&#160;&#160;The Company further agrees that its current and future Director&#8217;s and Officer&#8217;s liability insurance will include Morelli as an insured person with respect to his Official Acts.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company will direct its executive officers and members of its board of directors to refrain from publicly making any derogatory, misleading or otherwise negative statements about Morelli, and, if contacted, to refer requests for information about Morelli to the Company&#8217;s HR Department.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All payment obligations of the Company under the Plan as amended hereby are subject to the execution and non-revocation by Morelli of a release in the form of <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit A</font> hereto (the &#8220;Release&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Confirmation of Covenants</font>.&#160;&#160;Morelli confirms that he is subject to, and will abide by the covenants set forth in Section 5 of the Plan as amended hereby, which generally include: Non-Competition, Interference with Business Relations, Proprietary and Confidential Information, Non-Disparagement and Cooperation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">General Confirmation; Tax Withholding; Section 409A</font>.&#160;&#160;The Company and Morelli ratify and confirm the Plan, which, except as expressly amended by this Agreement, contains the entire rights and benefits to which Morelli is entitled in connection with the termination of his employment with the Company.&#160;&#160;All amounts payable by the Company or any of its affiliates under this Agreement or the Plan will be subject to all taxes and other amounts required to be withheld according to applicable federal, state and local laws.&#160;&#160;This Agreement shall be interpreted to ensure that the payments made to Morelli under this Agreement or the Plan are exempt from, or comply with, Section 409A of the Internal Revenue Code.&#160;&#160;However, in no event is the Company or any other person responsible for any tax or penalty owed by Morelli with respect to any payment under this Agreement or the Plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Release</font>.&#160;&#160;Simultaneously with the execution, and as required under the Plan, Morelli is executing the Release.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Complete Agreement</font>.&#160;&#160;This Agreement, the Plan (including the Participation Agreement) as amended hereby and the Release constitute the complete and entire agreement between the parties relating to the termination of Morelli&#8217;s employment and supersedes any prior or contemporaneous agreements between the parties with thereto.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Morelli Covenant Not to Sue</font>.&#160;&#160;Morelli covenants not to file a lawsuit or claim of any type in any forum against the Company that has been released in connection with this Agreement, the Plan (as amended hereby) or the Release, except for a claim of an alleged breach of this Agreement or the Plan (as amended hereby) and that if he does, the lawsuit or claim will be immediately dismissed.&#160;&#160;He further agrees that if he files such a lawsuit or claim or otherwise violates any of the terms of this Agreement or the Plan, he will pay to the Company all of the costs, expenses, and attorney&#8217;s fees incurred by the Company in defending against such a lawsuit or claim or enforcing this Agreement, the Plan (as amended hereby) or the Release.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Public Announcements</font>.&#160;&#160;The parties will consult with each other before issuing any initial press release with respect to the termination of Morelli&#8217;s employment.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Jurisdiction</font>.&#160;&#160;Any dispute about the meaning, effect or validity of this Agreement will be resolved in accordance with the laws of the State of Michigan without regard to the conflict of law provisions thereof.&#160;&#160;Venue and jurisdiction of any claim or action involving this Agreement will exist exclusively in the state and federal courts in the County of Oakland, State of Michigan, and the parties hereby consent to personal jurisdiction of the State of Michigan and waive any objections to venue, the convenience of the forum and jurisdiction in the County of Oakland, State of Michigan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Acknowledgement</font>.&#160;&#160;Morelli acknowledges that before signing this Agreement, he</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">has read it, he fully understands its terms, content and effect, he has had the opportunity to seek the advice of an attorney of his own choosing, and he has relied fully and completely on his own judgment in executing this Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;IN WITNESS WHEREOF, the parties have executed this Agreement as of this 6th day of May, 2011.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/Mark D. Morelli</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font>MARK D. MORELLI</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ENERGY CONVERSION DEVICES, INC.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By: <font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Jay Knoll</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 243pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jay Knoll</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Its:&#160;&#160;&#160;&#160;&#160;&#160;Executive Vice President</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Amount</font></div>
</td>
<td align="left" colspan="2" valign="top" width="34%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Timing and Manner of Payment</font></td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: 4px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Base salary</font></div>
</td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: 4px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.1(a)(1)</font></div>
</td>
<td align="left" valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: 4px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485,000/yr for two years</font></div>
</td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: 4px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$970,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<img src="bl.gif"></font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: 4px; TEXT-ALIGN: left">
<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$583,270 as a lump sum by wire transfer of immediately available funds to an account designated </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">by Morelli in writing to be paid seven days after the Release ceases to be revocable</font></div>

<div><font size="2">&#160;</font></div>
</td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="left" valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="left" valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;<img src="bl.gif"></font></td>
<td align="left" valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$386,730 payable in 39 equal installments of $9,916.15 on normal payroll payment dates commencing November 11, 2011</font></td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bonus (Part A)</font></div>
</td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.1(a)(2)(A)</font></div>
</td>
<td align="left" valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485,000 *.85 * (10/12) - minus amounts already paid</font></div>
</td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$183,385</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;<img src="bl.gif"></font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$183,385 as a lump sum by wire transfer of immediately available funds to an account designated </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">by Morelli in writing on November 7, 2011</font></div>
</td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bonus (Part B)</font></div>
</td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.1(a)(2)(B)</font></div>
</td>
<td align="left" valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485,000*.85*(24/12)</font></div>
</td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$824,500</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;<img src="bl.gif"></font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$824,500 as a lump sum by wire transfer of immediately available funds to an account designated </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">by Morelli in writing on November 7, 2011</font></div>
</td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr><tr>
<td valign="top" width="12%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td align="right" valign="top" width="24%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">TOTAL</font></div>
</td>
<td valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,977,885</font></div>
</td>
<td valign="top" width="1%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="top" width="33%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr></table>
</div>

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_________________&#160;</div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font> All dollar amounts represent gross payments before application of tax withholding.&#160;&#160;Actual payments will be net of withholding.</font></div>
</div>

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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="4">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule B</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
<td valign="top" width="22%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Award</font></div>
</td>
<td valign="top" width="27%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan Section</font></div>
</td>
<td align="left" valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amount</font></div>
</td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock Options:</font></div>
</td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.3(a)</font></div>
</td>
<td align="left" valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">91,600</font></div>
</td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Restricted Stock Units:</font></div>
</td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.3(c)</font></div>
</td>
<td align="left" valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">127,720 RSUs</font></div>
</td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Performance Shares:</font></div>
</td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Section 4.3(d)</font></div>
</td>
<td align="left" valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100,800 (of which 13,440 will vest on the Termination Date and the remainder will be forfeited)</font></div>
</td>
</tr><tr>
<td valign="top" width="22%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="27%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="29%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<br>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit A</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RELEASE</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In consideration of the payment and benefits I am entitled to receive under the agreement to which this release is attached (the &#8220;Separation Agreement&#8221;), including benefits I will receive under the Energy Conversion Devices, Inc. Executive Severance Plan (the &#8220;Plan&#8221;), I, Mark Morelli, on behalf of myself, and on behalf of my heirs, successors and assigns, hereby agree to release Energy Conversion Devices, Inc. (the &#8220;Company&#8221;), all of its past, present and future subsidiaries, affiliates, directors, officers, employees; and all of its and their respective heirs, successors, and assigns (the &#8220;Released Parties&#8221;) from any and all claims, demands, actions, and liabilities that I might otherwise have asserted arising out of my employment with the Company, including the termination of that employment.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I also promise not to sue the Company or any of the Released Parties based, in whole or in part, on any claims relating to my employment with the Company or the termination of that employment.&#160;&#160;However, I am not releasing my rights, if any, under the Separation Agreement, the Plan or any qualified employee retirement plan, nor am I releasing any rights or claims that may arise after the date on which I sign this Release.&#160;&#160;Those rights, and only those rights, survive unaffected by this Release.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I understand that as a consequence of my signing this Release I am giving up, with respect to my employment and the termination of that employment, any and all rights I might otherwise have under (1) the Age Discrimination in Employment Act of 1967, as amended; (2) and all other federal, state or municipal laws prohibiting discrimination in employment on the basis of sex, race, national origin, religion, age, handicap or other invidious factor; and (3) any and all theories of contract or tort law, whether based on common law or otherwise.&#160;&#160;This Release includes, but is not limited to, any rights I might otherwise have under the following Michigan laws:&#160;&#160;The Elliot-Larsen Civil Rights Act (race, color, religion, national origin, age, sex, marital status, height and weight) and any and all derivative claims; the Michigan Persons With Disabilities Act (handicap); the Michigan Wage Payment Act (MCLA 408.471) (wages and benefits); AIDS Testing and Confidentiality Act; Equal Pay; the Polygraph Protection Act of 1981 (restrictions on the use of polygraphs); Whistleblower Protection; Jury Service; Subpoenaed Victim; Job Reference Immunity.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I acknowledge and agree that:</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The benefits I am receiving under the Separation Agreement and the Plan constitute consideration over and above any benefits that I might be entitled to receive without executing this Release.</font></div>
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<div style="TEXT-ALIGN: justify">
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company advised me in writing to consult with an attorney prior to executing the Separation Agreement and the Release.</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I was given a period of at least 21 days within which to consider the Separation Agreement, the Plan and the Release.</font></div>
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company has advised me of my statutory right to revoke my acceptance of the terms of the Separation Agreement, the Plan and this Release at any time within seven (7) days of my signing of this Release.</font></div>
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I remain subject to and will continue to comply with the restrictive covenants set forth in Section 5 of the Plan (as determined under the Separation Agreement).</font></div>
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<div style="TEXT-ALIGN: justify">
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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I warrant and represent that my decision to accept the Separation Agreement, the Plan (including this Release) was (a)&#160;entirely voluntary on my part; (b) not made in reliance on any inducement, promise or representation, whether express or implied, other than the inducements, representations and promises expressly set forth in the Separation Agreement, the Plan or in the Release; and (c) did not result from any threats or other coercive activities to induce acceptance of the Separation Agreement, the Plan or Release.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the event I decide to exercise my right to revoke within seven (7) days of my acceptance of this Release, I warrant and represent that I will do the following: (1)&#160;notify the Company in writing of my intent to revoke my agreement, and (2)&#160;simultaneously return in full the consideration received from the Company under the Separation Agreement and the Plan.&#160;&#160;I acknowledge that, if I revoke this Release during the revocation period, I will not be entitled to the benefits under the Separation Agreement or the Plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I further warrant and represent that I fully understand and appreciate the consequence of my signing this Release.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN WITNESS WHEREOF, I hereby acknowledge receipt of consideration and execute the foregoing agreement at Auburn Hills, Michigan, this 6<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> day of May, 2011.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 270pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mark Morelli</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Witnessed by _______________<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;on this 6th day of May, 2011.</font></div>

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<TYPE>EX-10
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<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit 10.2</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Energy Conversion Devices, Inc.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior Management Retention Plan</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Board of Energy Conversion Devices, Inc. (the &#8220;Company&#8221;) has adopted this Senior Management Retention Plan (the &#8220;Plan&#8221;) to provide additional incentive compensation to certain officers and key employees (&#8220;Plan Participants&#8221;).&#160;&#160;&#160;This Plan sets forth the general parameters of the incentive compensation approved by the Board; the actual terms applicable to individual Plan Participants shall be specified in separate Executive Retention Agreements (each a &#8220;Retention Agreement&#8221;).&#160;&#160;Capitalized terms used but not defined herein have the meanings set forth in the Company&#8217;s Executive Severance Plan, effective July 24, 2007 as amended to date (the &#8220;Severance Plan&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Plan Benefits and Conditions</font></font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Plan Participants will be eligible to receive a benefit equal to up to 75% of their base salary (the &#8220;Retention Benefit&#8221;).</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Retention Benefit will be earned and payable on the earlier of (i) the first anniversary of the effective date of a Retention Agreement, or (ii) a Qualifying Termination.</font></div>
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<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="bl.gif"></font></font></font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">One-half of the Retention Benefit will be payable in cash and one-half will be paid in the form of Restricted Stock Units (&#8220;RSUs&#8221;) awarded under the Company&#8217;s 2010 Omnibus Incentive Compensation Plan (the &#8220;Stock Plan&#8221;).&#160;&#160;The number of RSUs shall be determined based upon the Fair Market Value (as defined in the Stock Plan) on the effective date of the Retention Agreement.&#160;&#160;The RSUs will be evidenced by a separate Restricted Stock Unit Award Agreement in the form prescribed by the Stock Plan.</font></div>
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<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="bl.gif"></font></font></font></div>

<font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#160;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Plan Participants will be subject to the covenants in Section 5 of the Severance Plan, which solely for purposes of such Section 5 of the Severance Plan, and regardless of any other provision of the Severance Plan or any Participation Agreement, solely for purposes of the restrictive covenants, the Severance Coverage Period shall be the number of months set forth in the Participation Agreement after any termination of employment (or, if earlier, six months after a Qualifying Termination in connection with a Change in Control).</font></div>
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<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>exh_103.htm
<DESCRIPTION>EXHIBIT 10.3
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit 10.3</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PERSONAL &amp; CONFIDENTIAL</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;May __, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.8pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Certain Covenants</font>.&#160;&#160;&#160;Notwithstanding any other provision of the Severance Plan or your Participation Agreement, the duration of your covenants under Sections 5.2 and 5.3 of the Severance Plan will expire at the end of the number of months of the Severance Coverage Period stated in your Participation Agreement following any termination of your employment with the Company, including a Qualifying Termination, except that if a Qualifying Termination occurs at any time within one month prior to the Change in Control and the first anniversary of the Change in Control, then the duration of your covenants under Section 5.2 and 5.3 of the Severance Plan will expire six months following such Qualifying Termination.</font></div>

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		<p align="right">EXHIBIT 99.1</p>
		<h3 align="center">Energy Conversion Devices Reports Third Quarter 2011 Results; Launches Strategic Corporate Restructuring</h3>
		<p align="center"><i>Announces Departure of President and CEO; Jay Knoll Named Interim President<br>
			</i><i>Restructuring Expected to Provide at Least $20 Million in Annual Savings</i></p>
		<p>AUBURN HILLS, Mich., May 10, 2011 (GLOBE NEWSWIRE) -- Energy Conversion Devices, Inc. (ECD) (Nasdaq:ENER), a leading global provider of flexible thin-film solar laminate products and systems to the building-integrated and commercial rooftop markets, today reported financial results for its third fiscal quarter of 2011 ended March 31, 2011, and said it will implement a strategic corporate restructuring to better position and focus the company for success in the rapidly evolving solar industry.</p>
		<p>Total consolidated revenue for the quarter was $21.5 million, a decrease of 70% over the third fiscal quarter of 2010, and a decrease of 69% over the previous quarter, due primarily to significant industry-wide disruptions in the company's key European solar markets. The company reported a net loss of $243.2 million, or $4.88 per share, which included non-cash impairment charges of $222.8 million, or $4.47 per share, compared to a net loss of $385.0 million, or $9.10 per share, in the third fiscal quarter of 2010, which included a non-cash impairment charge of $358.0 million, or $8.46 per share. Excluding impairment charges, the net loss in the third fiscal quarter of 2011 was $20.4 million, or $0.41 per share, compared to a net loss of $27.0 million, or $0.64 per share, in the third fiscal quarter of 2010.</p>
		<p>As of March 31, 2011, the company had $172 million of cash, cash-equivalents, restricted cash and short-term investments.</p>
		<p><strong>Corporate Restructuring</strong></p>
		<p>The company said it is implementing a strategic corporate restructuring that will include a reduction in its workforce of approximately 300 employees or 20% of the company's current associates worldwide. In addition, the Board of Directors appointed Jay Knoll as Interim President, replacing former President and CEO Mark Morelli, who has resigned. Knoll formerly served as Executive Vice President, General Counsel and Chief Administrative Officer. In addition, Ted F. Amyuni, Executive Vice President, Global Sales; William C. &quot;Kriss&quot; Andrews, Executive Vice President and Chief Financial Officer; Joseph P. Conroy, Executive Vice President, Operations and Dr. Subhendu Guha, Executive Vice President, Photovoltaic Technology and Chairman, United Solar Ovonic will continue in their current roles and work with Knoll as members of the senior leadership team. The Board has also initiated a search for a permanent CEO.</p>
		<p>&quot;These actions will enable ECD to better meet the needs of the dynamic global solar market and will strengthen our ability to respond to this changed industry environment,&quot; said Stephen Rabinowitz, Chairman of the ECD Board of Directors. &quot;Our Board is confident that Jay Knoll and the other members of the senior management team, who have extensive experience in our business and industry, executive management and corporate restructuring, will provide strong leadership as we search for a permanent chief executive to lead the organization.&quot;</p>
		<p>Rabinowitz continued, &quot;We firmly believe that the restructuring, the continuing implementation of our technology roadmap and our strong cash balance position the company for success as a leader in flexible thin-film PV technology and its applications.&quot;</p>
		<p>As part of its restructuring, ECD will focus on its growing North American business, concentrate on its two-step distribution model with existing and new channel partners, and pursue opportunities in fast-growing emerging markets. At the same time, the company will maintain its commitment to key European markets as they stabilize. The company will continue to focus on the commercialization of its next-generation technologies, including its High Frequency and Nano-Crystalline technologies to improve conversion efficiency and lower costs. &nbsp;ECD's technology roadmap is designed to enable the company's flexible solar products to compete more effectively with standard grid electricity, particularly on rooftop applications.</p>
		<p>The company incurred restructuring charges of approximately $2 million in the third quarter and expects to incur additional restructuring charges of approximately $4 million in the fourth quarter. The company's actions will provide annualized savings of at least $20 million in manufacturing operations and corporate overhead.</p>
		<p>The impairment charge in the third quarter is an accounting adjustment that does not affect the cash position of the company or the usability of its assets.&nbsp;Going forward, this charge will mean lower depreciation expense by approximately $3 million per quarter.</p>
		<p><strong>Quarterly Results</strong></p>
		<p>Third fiscal quarter solar product and system sales were $18.7 million, a decrease of 71% over the third fiscal quarter of 2010, and a decrease of 72% over the previous quarter. Consolidated gross margin was 16.3% as compared to 2.0% in the year-ago quarter, and 21.4% in the second fiscal quarter of 2011. &nbsp;During the quarter, ECD shipped 12 megawatts of its <i>UNI-SOLAR<sup>&reg;</sup></i> brand PV products, and produced 26 megawatts.</p>
		<p>&quot;Industry-wide disruptions in key European markets impacted our business in the quarter as many of our projects and orders were postponed,&quot; said Jay Knoll, Interim President.&nbsp;&quot;The abrupt shifts in European solar policies are having a profound impact on the outlook for the global solar industry and our business. Our restructuring actions are designed to align our business with these new realities in the solar industry. However, we remain confident in the growing adoption of solar technology.&quot;</p>
		<p>Knoll added, &quot;Besides our continuing opportunities in Europe, we anticipate future growth in solar demand will occur more rapidly in regions such as North America, where we have already gained meaningful traction with our unique solar products in large projects.&nbsp;We are also expanding our network of channel partners in the Americas through our Business Alliance Program and we are opening a manufacturing facility in Southern Ontario that will allow projects with our products to qualify for that region's excellent solar incentive program. &nbsp;Our joint venture in Tianjin, China is starting to see shipment growth and we continue to win orders in emerging markets in the Middle East and Asia. Our new Open Solar initiative will seek to find new applications for our unique products and we are optimistic that it can drive future volume for our business.&quot;</p>
		<p>&quot;The cornerstone of our refocused strategy is the execution of our technology roadmap. Our High Frequency product will be available later this year, and we have already started retrofitting equipment with our next-generation Nano-Crystalline technology at our Greenville campus. We are confident we are taking the right steps toward sustainable growth and profitability,&quot; Knoll concluded.</p>
		<p><strong>Conference Call / Webcast Details</strong></p>
		<p>Management of Energy Conversion Devices will discuss this announcement and review the third fiscal quarter financial results on a conference call today, May 10, 2011, at 10:00 a.m. ET.&nbsp;To participate in the conference call, please dial (877) 858-2512 or (706) 643-3219 (international) at least 10 minutes prior to the start of the call.&nbsp;Callers will need to reference conference ID number 63346919. &nbsp;The conference call will be webcast live over the Internet and can be accessed in the Investor Relations section of the company's website at energyconversiondevices.com under &quot;Events&quot;. &nbsp;The webcast will also be archived on the Company's website.</p>
		<p><strong>About Energy Conversion Devices</strong></p>
		<p>Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leading global provider of thin-film flexible solar laminate products for the building-integrated and commercial rooftop markets. &nbsp;The company manufactures sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. &nbsp;ECD's <i>UNI-SOLAR</i>&reg; brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. &nbsp;The company also designs, and installs rooftop photovoltaic systems which enable customers to transform unused rooftop space into a value-generating asset. In addition, ECD's Ovonic Materials Division is the pioneer in NiMH battery technology and other material science technologies for the renewable energy industry. For more information, please visit energyconversiondevices.com and follow ECD on Twitter @ECD_ENER.</p>
		<p><i>This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.&nbsp;These forward-looking statements do not constitute guarantees of future performance.&nbsp;Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information.&nbsp;All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.&nbsp;Risks that could cause such results to differ include: our ability to maintain our customer relationships and establish new relationships; the worldwide market for solar energy systems; changes to government incentives related to solar energy; our customers' ability to access capital to finance the purchase of our products; our ability to achieve expense reductions and levels of one-time costs, including restructuring charges; and our ability through technology improvements to reduce cost and improve the conversion efficiency of our solar products.&nbsp;The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.&nbsp;Energy Conversion Devices, Inc. assumes no responsibility to update any forward-looking statements contained herein.</i></p>
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				<td colspan="5" style="font: 12px Arial; text-align: center"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)</strong></td>
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				<td colspan="5" style="font: 12px Arial; text-align: center"><strong>(In thousands, except per share data)</strong></td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Three Months Ended</strong><br>
					<strong>March 31,</strong></td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Nine Months Ended</strong><br>
					<strong>March 31,</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2011</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2010 <sup>(1)</sup></strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2011</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2010 <sup>(1)</sup></strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Revenues</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Product sales</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;17,601</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;55,593</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$125,730</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$ 133,562</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">System sales</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,067</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">9,483</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">24,542</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">15,419</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Royalties</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,865</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,919</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">5,923</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">6,132</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Revenues from product development agreements</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">562</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">2,580</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,980</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">9,578</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">License and other revenues</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">399</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">2,831</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">1,263</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">3,571</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Total Revenues</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">21,494</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">72,406</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">159,438</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">168,262</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Expenses</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Cost of product sales</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">16,743</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">60,368</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">104,690</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">135,754</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Cost of system sales</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,000</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">8,614</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">23,102</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">19,442</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Cost of revenues from product development agreements</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">245</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,949</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">794</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">7,624</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Product development and research</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">2,562</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">3,442</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">7,354</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">8,817</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Preproduction costs</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">72</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">93</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">82</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Selling, general and administrative</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">15,660</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">16,730</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">49,358</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">50,152</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Net loss on disposal of property, plant and equipment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">130</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">31</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">75</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,296</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Impairment loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">222,803</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">357,975</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">222,803</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">359,228</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Restructuring expense</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">1,678</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">338</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">2,100</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">3,460</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Total Expenses</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">260,821</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">449,519</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">410,369</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">585,855</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Operating Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(239,327)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(377,113)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(250,931)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(417,593)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Other Income (Expense)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Interest income</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,154</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">404</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">2,224</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">960</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Interest expense</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(6,208)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(7,200)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(19,891)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(21,414)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Gain on debt extinguishment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">3,327</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Distribution from joint venture</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,309</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Other nonoperating income (expense), net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">1,189</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(1,257)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">1,114</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(1,333)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Total Other Income (Expense)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(3,865)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(8,053)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(13,226)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(20,478)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Loss before Income Taxes and Equity Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(243,192)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(385,166)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(264,157)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(438,071)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Income tax expense (benefit)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">128</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(55)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">295</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(1,955)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Loss before Equity Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(243,320)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(385,111)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(264,452)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(436,116)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Equity gain (loss)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">118</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">148</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">103</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(185)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(243,202)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(384,963)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(264,349)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(436,301)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net (Loss) Income Attributable to Noncontrolling Interest</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(99)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">113</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(277)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(40)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss Attributable to ECD Stockholders'</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$(243,103)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$(385,076)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$(264,072)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$(436,261)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Loss Per Share, Attributable to ECD Stockholders'</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(4.88)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(9.10)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(5.60)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(10.31)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Diluted Loss Per Share, Attributable to ECD Stockholders'</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(4.88)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(9.10)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(5.60)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(10.31)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Basic weighted shares outstanding</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">49,798</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">42,307</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">47,165</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">42,307</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Diluted shares outstanding</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">49,798</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">42,307</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">47,165</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">42,307</td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;"><sup>(1)</sup> As adjusted due to the implementation of FASB ASC 470-20 (See Note 1).</td>
			</tr>
		</table>
		<table cellpadding="0" cellspacing="6" style=" border-collapse: separate; border-spacing: 6px ">
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>ENERGY CONVERSION DEVICES, INC. and SUBSIDIARIES</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>CONSOLIDATED BALANCE SHEETS</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>(in thousands)</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>March 31,<br>
						2011</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>June 30, </strong><br>
					<strong>2010 <sup>(1)</sup></strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center"><strong>(Unaudited)</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>ASSETS&nbsp;</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Current Assets:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Cash and cash equivalents</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;&nbsp;&nbsp;52,683</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;&nbsp;&nbsp;79,158</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Short-term investments</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">109,001</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">113,771</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Accounts receivable, net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">30,765</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">72,021</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Inventories, net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">94,863</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">61,495</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Other current assets</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">23,985</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">27,237</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Total Current Assets</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">311,297</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">353,682</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Property, Plant and Equipment, net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">88,339</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">301,056</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Other Assets:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Restricted cash</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">10,350</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">11,749</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Lease receivable, net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">10,304</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">10,854</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Other assets</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">11,199</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">14,606</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Total Other Assets</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">31,853</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">37,209</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Total Assets</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;&nbsp;431,489</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;&nbsp;&nbsp;691,947</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>LIABILITIES AND STOCKHOLDERS' EQUITY</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Current Liabilities:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Accounts payable and accrued expenses</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;49,173</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;56,035&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Current portion of warranty liability</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">14,748</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">12,125</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Other current liabilities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">9,096</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">9,130</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Total Current Liabilities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">73,017</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;77,290</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Long-Term Liabilities:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Convertible senior notes</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">228,754</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">243,654</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Capital lease obligations</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">19,349</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">20,296</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Warranty liability</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">26,950</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">29,210</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Other liabilities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">18,275</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">19,872</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Total Long-Term Liabilities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">293,328</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">313,032</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Commitments and Contingencies (Note 10)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Stockholders' Equity</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Common stock, $0.01 par value, 150 million and 100 million shares authorized, 53,273,831 and 48,554,812 issued at March 31, 2011 and June 30, 2010, respectively</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">533</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">&nbsp;486</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Additional paid-in capital</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,104,838</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,079,910</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Treasury stock</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(700)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(700)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Accumulated deficit</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(1,038,364)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(774,388)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Accumulated other comprehensive loss, net</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(773)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">&nbsp;(3,570)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Total ECD stockholders' equity</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">65,534</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">301,738</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Accumulated deficit &#x2013; noncontrolling interest</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(390)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(113)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Total Stockholders' Equity</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">65,144</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">301,625</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Total Liabilities and Stockholders' Equity</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;431,489</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;&nbsp;&nbsp;691,947&nbsp;</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;"><sup>(1)</sup> As adjusted due to the implementation of FASB ASC 470-20 (See Note 1).</td>
			</tr>
		</table>
		<table cellpadding="0" cellspacing="6" style=" border-collapse: separate; border-spacing: 6px ">
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>ENERGY CONVERSION DEVICES, INC. and SUBSIDIARIES</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; text-align: center"><strong>(in thousands)</strong></td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Nine Months Ended</strong><br>
					<strong>March 31,</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2011</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>2010 <sup>(1)</sup></strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Cash flows from operating activities:</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Net loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$(264,349)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$ (436,301)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Adjustments to reconcile net loss to net cash used in operating activities:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Impairment loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">222,803</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">359,228</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Depreciation and amortization</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">16,092</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">27,302</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Amortization of debt discount and deferred financing fees</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">12,466</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">12,571</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Share-based compensation</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">3,219</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">3,440</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Gain on debt extinguishment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(3,327)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Net loss on disposal of property, plant and equipment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">75</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,296</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Equity (gain) loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(103)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">185</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Changes in operating assets and liabilities, net of foreign exchange:</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Accounts receivable</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">42,138</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(3,417)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Inventories</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(31,329)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">3,328</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Other assets</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">2,877</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(14,285)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Accounts payable and accrued expenses</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(1,801)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(17,492)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Other liabilities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(1,563)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(579)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 30.0px;">Net cash used in operating activities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(2,802)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(64,724)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Cash flows from investing activities:</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Purchases of property, plant and equipment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(29,810)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(26,904)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Acquisition of business, net of cash acquired</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(2,088)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Purchases of investments</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(87,316)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(68,089)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Proceeds from maturities of investments</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">14,200</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">174,644</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Proceeds from sale of investments</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">75,069</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">10,120</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Proceeds from sale of property, plant and equipment</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">219</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Proceeds from development loans</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">7,177</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Decrease (increase) in restricted cash</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">1,399</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(6,510)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Net cash (used in) provided by investing activities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(19,062)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">81,173</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>Cash flows from financing activities:</strong></td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Principal payments under capitalized lease obligations and other debt</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(1,313)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(1,131)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Repayment of revolving credit facility</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(5,705)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">Repayment of convertible notes</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">--</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">(8,000)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">Net cash used in financing activities</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(1,313)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(14,836)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Effect of exchange rate changes on cash and cash equivalents</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(3,298)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">252</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net (decrease) increase in cash and cash equivalents</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">(26,475)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">1,865</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Cash and cash equivalents at beginning of period</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">79,158</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">56,379</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Cash and cash equivalents at end of period</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;52,683</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;58,244</td>
			</tr>
			<tr>
				<td colspan="3" style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;"><sup>(1) </sup>As adjusted due to the implementation of FASB ASC 470-20 (See Note 1).</td>
			</tr>
		</table>
		<table cellpadding="0" cellspacing="6" style=" border-collapse: separate; border-spacing: 6px ">
			<tr>
				<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; text-align: center"><strong>ENERGY CONVERSION DEVICES, INC. and SUBSIDIARIES</strong></td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; text-align: center"><strong>RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES (Unaudited)</strong></td>
			</tr>
			<tr>
				<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left "><strong>&nbsp;</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center"><strong>Three Months Ended</strong></td>
				<td colspan="2" style="font: 12px Arial; text-align: center"><strong>Nine Months Ended</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>March 31, 2011</strong></td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>March 31, 2011</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Net Loss</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>EPS</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Net Loss</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>EPS</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(243,202)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(4.88)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(264,349)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(5.60)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Less: Impairment Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">222,803</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">4.47</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">222,803</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">4.72</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(20,399)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(0.41)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(41,546)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(0.88)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center">&nbsp;</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center"><strong>Three Months Ended</strong></td>
				<td colspan="2" style="font: 12px Arial; text-align: center"><strong>Nine Months Ended</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>March 31, 2010</strong></td>
				<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>March 31, 2010</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">&nbsp;</td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Net Loss</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>EPS</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>Net Loss</strong></td>
				<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;"><strong>EPS</strong></td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(384,963)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(9.10)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(436,301)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">$&nbsp;(10.31)</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Less: Impairment Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">357,975</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">8.46</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">359,228</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">8.49</td>
			</tr>
			<tr>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">Net Loss</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(26,988)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(0.64)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(77,073)</td>
				<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">$&nbsp;(1.82)</td>
			</tr>
		</table>
		<pre>CONTACT: Michael E. Schostak
         Head of Investor Relations
         (248) 299-6063
         investor.relations@energyconversiondevices.com</pre>
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