Form of Intellectual Property Agreement- Babcock & Wilcox Technology, Inc.



 Exhibit 10.22 

FORM OF 
 INTELLECTUAL PROPERTY
AGREEMENT 
 between 

BABCOCK & WILCOX TECHNOLOGY, INC. 

and 
 BABCOCK & WILCOX
INVESTMENT COMPANY 
 dated as of 

                    
        , 2015 
  







 TABLE OF CONTENTS 

 

							
	ARTICLE I		 DEFINITIONS
		 	2	  
			
	 Section 1.1
		Definitions		 	2	  
			
	 Section 1.2
		Interpretation		 	5	  
			
	ARTICLE II		 INTELLECTUAL PROPERTY ASSIGNMENT AND OWNERSHIP
		 	6	  
			
	 Section 2.1
		Assignment of Transferred Intellectual Property		 	6	  
			
	 Section 2.2
		Actions; Correspondence		 	7	  
			
	 Section 2.3
		Assistance by Employees; Inventor Compensation		 	7	  
			
	 Section 2.4
		Reserved		 	8	  
			
	 SECTION 2.5
		RIGHTS ARISING IN THE FUTURE		 	8	  
			
	ARTICLE III		RESERVED		 	8	  
			
	ARTICLE IV		RESERVED		 	8	  
			
	ARTICLE V		INTELLECTUAL PROPERTY LICENSES AND COVENANTS		 	8	  
			
	 Section 5.1
		Reserved		 	8	  
			
	 Section 5.2
		Patent License		 	8	  
			
	 Section 5.3
		Reserved		 	9	  
			
	 Section 5.4
		Reserved		 	9	  
			
	 Section 5.5
		Reserved		 	9	  
			
	 Section 5.6
		Sublicensing; Assignability		 	9	  
			
	 Section 5.7
		Restrictions on Licensor Exploitation of Intellectual Property		 	9	  
			
	 Section 5.8
		Third Party Agreements; Reservation of Rights		 	9	  
			
	 Section 5.9
		Maintenance of Intellectual Property		 	10	  
			
	 Section 5.10
		Covenants		 	10	  
			
	ARTICLE VI		 RESERVED
		 	10	  
			
	ARTICLE VII		NO WARRANTIES		 	10	  
			
	ARTICLE VIII		THIRD-PARTY INFRINGEMENT		 	11	  
			
	 Section 8.1
		No Obligation		 	11	  
			
	 Section 8.2
		Notice Regarding Infringement		 	11	  
			
	 Section 8.3
		Suits for Infringement		 	11	  
			
	ARTICLE IX		 CONFIDENTIALITY
		 	13	  
			
	ARTICLE X		 MISCELLANEOUS
		 	14	  
			
	 Section 10.1
		Authority		 	14	  









							
			
	 Section 10.2
		Entire Agreement		 	14	  
			
	 Section 10.3
		Binding Effect; Third-Party Beneficiaries; Assignment		 	14	  
			
	 Section 10.4
		Amendment		 	14	  
			
	 Section 10.5
		Failure or Indulgence Not Waiver; Remedies Cumulative		 	14	  
			
	 Section 10.6
		Notices		 	15	  
			
	 Section 10.7
		Counterparts		 	15	  
			
	 Section 10.8
		Severability		 	15	  
			
	 Section 10.9
		Governing Law		 	15	  
			
	 Section 10.10
		Construction		 	15	  
			
	 Section 10.11
		Performance		 	16	  

  

			
	SCHEDULES		
	Schedule 1.1(e)		SpinCo Core Field; RemainCo Core Field
	Schedule 1.1(i)		Specific RemainCo Field; Specific SpinCo Field
	Schedule 2.1(a)		Transferred BWTI Intellectual Property
	Schedule 5.2(a)(i)		BWTI General Patents
		
	EXHIBITS		
	Exhibit A		Intellectual Property Assignment Agreements








 INTELLECTUAL PROPERTY AGREEMENT 

This INTELLECTUAL PROPERTY AGREEMENT (this “Agreement”) is entered into as of
                     , 2015 (the “Effective Date”), between Babcock & Wilcox Technology, Inc., a Delaware corporation
(“BWTI”) and Babcock & Wilcox Investment Company, a Delaware corporation (“BWICO”). BWTI and BWICO are sometimes referred to herein individually as a “Party,” and collectively as the “Parties.”
Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in Article 1 hereof. 
 RECITALS

 WHEREAS, Babcock & Wilcox Enterprises, Inc., a Delaware corporation (“SpinCo”) is a wholly owned Subsidiary of The
Babcock & Wilcox Company (“RemainCo”) and the Board of Directors of RemainCo has determined that it would be appropriate and in the best interests of RemainCo and its stockholders for RemainCo to separate the SpinCo Business from
the RemainCo Business; 
 WHEREAS, in order to effectuate the foregoing, RemainCo and SpinCo intend to enter into a Master Separation
Agreement (the “Master Separation Agreement”), which will provide, among other things, upon the terms and subject to the conditions thereof, for the separation of the respective businesses of SpinCo and RemainCo and the distribution of the
Capital Stock of SpinCo to the public shareholders of RemainCo (the “Distribution”) as defined in the Master Separation Agreement as of the date set forth in the Master Separation Agreement (the “Distribution Date”) and at the
time set forth in the Master Separation Agreement (the “Distribution Time”); 
 WHEREAS, as of the date of this Agreement,
RemainCo is the sole owner of all the outstanding Capital Stock (as defined below) of each of SpinCo and BWICO; 
 WHEREAS, as of the date
of this Agreement, BWICO is the sole owner of all the outstanding Capital Stock of each of Babcock & Wilcox Government & Nuclear Operations, Inc., a Delaware corporation, Babcock & Wilcox Commercial Power, Inc., a Delaware
corporation (“CPI”) and BWTI; 
 WHEREAS, as of the date of this Agreement, BWTI is the sole owner of all the outstanding Capital
Stock of SoFCo-EFS Holdings, LLC, a Delaware limited liability company; 
 WHEREAS, as of the date of this Agreement, CPI is the sole owner
of all the outstanding Capital Stock of each of Babcock & Wilcox mPower, Inc., a Delaware corporation; Babcock & Wilcox Nuclear Energy, Inc., a Delaware corporation and Babcock & Wilcox Power Generation Group, Inc., a
Delaware corporation (“PGG”); 
 WHEREAS, as of the date of this Agreement, PGG is the sole owner of all of the outstanding
Capital Stock of Diamond Power International Inc., a Delaware corporation; which, in turn, is the sole owner of all of the outstanding Capital Stock of (i) BWXT Foreign Holdings, LLC, a Delaware limited liability company and (ii) B&W
PGG Lux Holdings SARL, an entity formed in Luxembourg,which, in turn, is the sole owner of all of the outstanding Capital Stock of 

  
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B&W PGG Lux Finance SARL, an entity formed in Luxembourg, which, in turn, is the sole owner of all of the outstanding Capital Stock of (i) Babcock & Wilcox Canada, Ltd., an
entity formed in Ontario, Canada, (ii) B&W PGG Luxembourg Canada Holdings SARL, an entity formed in Luxembourg which, in turn is the sole owner of all of the outstanding Capital Stock of Babcock & Wilcox Power Generation Group
Canada Corp., a Nova Scotia unlimited liability company and (iii) BWXT Canada Holdings Corp., a Nova Scotia unlimited liability company; 

WHEREAS, it is the intent of the Parties, in anticipation of the Distribution and the execution of the Master Separation Agreement, that BWTI
convey to BWICO certain Intellectual Property rights and licenses subject to the terms and conditions set forth in this Agreement; and 

NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements set forth below and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this
Section 1.1: 
 “Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with, the specified Person. For this purpose “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through ownership of voting securities, by contract or otherwise. 

“Business Day” means a day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is closed. 

“BWICO” has the meaning set forth in the recitals. 

“BWTI” has the meaning set forth in the recitals. 

“BWTI General Patents” has the meaning set forth in Section 5.2(a)(i). 

“Capital Stock” means any and all shares, interests, rights to purchase, warrants or options (whether or not currently exercisable),
participations or other equivalents of or interests (however designated) in the equity (which includes common stock, preferred stock and partnership, limited liability company, joint venture interests and other ownership interests) of any entity
(excluding any debt that is convertible into, or exchangeable for, such equity). 
 “Confidential Information” has the meaning set
forth in Section 9.2. 
 “Consent” means any consents, waivers or approvals from, or notification requirements to, any
third parties, including any notices or reports to be submitted to, filings to be made with, or consents, registrations, approvals, permits or authorizations to be obtained from, any Governmental Authority. 

  
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 “Continuing Agreement” means that certain Contribution Agreement dated June 30,
1997, by and among Babcock & Wilcox Power Generation Group, Inc. (formerly known as, “The Babcock & Wilcox Company”), Babcock & Wilcox Government and Nuclear Operations, Inc. (formerly known as, “BWX
Technologies, Inc.”), Diamond Power International, Inc. and Babcock & Wilcox Technology, Inc. (formerly known as, “McDermott Technology, Inc.”). 

“Contract” means any written, oral, implied or other contract, agreement, covenant, lease, license, guaranty, indemnity,
representation, warranty, assignment, sales order, purchase order, power of attorney, instrument or other commitment, assurance, undertaking or arrangement that is binding on any Person or entity or any part of its property under applicable Law.

 “CPI” has the meaning set forth in the recitals. 

“Distribution” has the meaning set forth in the recitals. 

“Distribution Date” has the meaning set forth in the recitals. 

“Distribution Time” has the meaning set forth in the recitals. 

“Governmental Authority” shall mean any U.S. federal, state, local or non-U.S. court, government, department, commission, board,
bureau, agency, official or other regulatory, administrative or governmental authority. 
 “Intellectual Property” means the
rights associated with or arising out of any of the following in any jurisdiction throughout the world: (i) all patents and patent applications, together with all reissuances, divisionals, continuations, continuations-in-part, revisions,
renewals, extensions, and reexaminations thereof, and any identified invention disclosures (“Patents”); (ii) trade secret rights and corresponding rights in confidential information and other non-public information (whether or not
patentable), including ideas, formulas, compositions, inventor’s notes, discoveries and improvements, know how, manufacturing and production processes and techniques, design manuals, testing information (including testing protocols and
results), research and development information, prototypes, inventions, invention disclosures, unpatented blueprints, drawings, specifications, designs, plans, proposals and technical data, business and marketing plans, market surveys, market
know-how and customer lists and information, including all tangible embodiments of the foregoing and unregistered copyrights (“Know-How”); (iii) all registered or unregistered copyrights, copyrightable works, rights in databases, data
collections, “moral” rights, mask works, copyright registrations, applications and extensions therefor and corresponding rights in works of authorship (“Copyrights”); (iv) all trademarks, service marks, logos, trade dress
and trade names indicating the source of goods or services, and other indicia of commercial source or origin (whether registered, common law, statutory or otherwise), all registrations and applications to register the foregoing anywhere in the world
and all goodwill associated therewith (“Trademarks”); (v) all computer software and code, including assemblers, applets, compilers, source code, object code, development tools, design tools, utilities, library files, user interfaces
and data, and all documentation and manuals related to such computer software and code in any form or format, however fixed (“Software”); 

  
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(vi) all internet electronic addresses, uniform resource locators and alphanumeric designations associated therewith and all registrations for any of the foregoing (“Domain Names”); and
(vii) any similar, corresponding or equivalent rights to any of the foregoing anywhere in the world. 
 “Information
Statement” means the information statement and any related documentation to be provided to holders of outstanding shares of common stock, par value $0.01 per share, of RemainCo in connection with the Distribution, including any amendments or
supplements thereto. 
 “Intellectual Property Assignment Agreements” has the meaning set forth in Section 2.1(b).

 “IP Proceedings” has the meaning set forth in Section 2.3. 

“Law” means any law, statute, ordinance, code, rule, regulation, order, writ, proclamation, judgment, injunction or decree of any
Governmental Authority. 
 “Licensed BWTI Intellectual Property” means all BWTI General Patents. 

“Master Separation Agreement” has the meaning set forth in the recitals. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a
trust, a joint venture, a union, an unincorporated organization or a Governmental Authority or any department, agency or political subdivision thereof. 

“PGG” has the meaning set forth in the recitals. 

“RemainCo Business” means any business of RemainCo and its Subsidiaries other than the SpinCo Business. 

“RemainCo Core Field” has the meaning set forth on Schedule 1.1(e). 

“RemainCo Group” means RemainCo and its Subsidiaries, other than the SpinCo Group. 

“Specific RemainCo Field” has the meaning set forth on Schedule 1.1(i). 

“Specific SpinCo Field” has the meaning set forth on Schedule 1.1(i). 

“SpinCo Business” means the business and operations conducted by the SpinCo Group as of the Distribution Date, as such business and
operations are described in the Information Statement. 
 “SpinCo Core Field” has the meaning set forth on Schedule 1.1(e).

 “SpinCo Group” means SpinCo and each Person that is a Subsidiary of SpinCo immediately after the Distribution Time or becomes a
Subsidiary of SpinCo after the Distribution Time. For the avoidance of doubt, BWTI will be a Subsidiary of SpinCo immediately after the Distribution Time. 

  
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 “Subsidiary” means, with respect to any specified Person, any corporation, partnership,
limited liability company, joint venture or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the
board of directors or others performing similar functions with respect to such corporation or other organization is directly or indirectly owned or controlled by such specified Person or by any one or more of its Subsidiaries, or by such specified
Person and one or more of its Subsidiaries. 
 “Transfer” has the meaning set forth in Section 2.1(a). 

“Transferred BWTI Intellectual Property” has the meaning set forth in Schedule 2.1(a). 

Section 1.2 Interpretation. In this Agreement, unless the context clearly indicates otherwise: 

(a) words used in the singular include the plural and words used in the plural include the singular; 

(b) if a word or phrase is defined in this Agreement, its other grammatical forms, as used in this Agreement, shall have a corresponding
meaning; 
 (c) reference to any gender includes the other gender and the neuter; 

(d) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without
limitation”; 
 (e) the words “shall” and “will” are used interchangeably and have the same meaning; 

(f) the word “or” shall have the inclusive meaning represented by the phrase “and/or”; 

(g) relative to the determination of any period of time, “from” means “from and including,” “to” means “to
but excluding” and “through” means “through and including”; 
 (h) all references to a specific time of day in this
Agreement shall be based upon Eastern Standard Time or Eastern Daylight Savings Time, as applicable, on the date in question; 
 (i) whenever
this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified; 
 (j) reference to
any Article, Section or Schedule means such Article or Section of, or such Schedule to, this Agreement, as the case may be, and references in any Section or definition to any clause means such clause of such Section or definition; 

(k) the words “this Agreement,” “herein,” “hereunder,” “hereof,” “hereto” and words of
similar import shall be deemed references to this Agreement as a whole and not to any particular Section or other provision of this Agreement; 

  
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 (l) the term “commercially reasonable efforts” means efforts which are commercially
reasonable to enable a Party, directly or indirectly, to satisfy a condition to or otherwise assist in the consummation of a desired result and which do not require the performing Party to expend funds or assume liabilities other than expenditures
and liabilities which are customary and reasonable in nature and amount in the context of a series of related transactions similar to the transaction contemplated herein; 

(m) reference to any agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and
modified from time to time to the extent permitted by the provisions thereof and by this Agreement; 
 (n) reference to any Law (including
statutes and ordinances) means such Law (including any and all rules and regulations promulgated thereunder) as amended, modified, codified or reenacted, in whole or in part, and in effect at the time of determining compliance or applicability; 

(o) references to any Person include such Person’s successors and assigns but, if applicable, only if such successors and assigns are
permitted by this Agreement; a reference to such Person’s “Affiliates” shall be deemed to mean such Person’s Affiliates following the Distribution and any reference to a Third Party shall be deemed to mean a Person who is not a
Party or an Affiliate of a Party; 
 (p) if there is any conflict between the provisions of the main body of this Agreement and the Schedules
hereto, the provisions of the main body of this Agreement shall control unless explicitly stated otherwise in such Schedule; 
 (q) the
titles to Articles and headings of Sections contained in this Agreement, in any Schedule and in the table of contents to this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of or to affect the
meaning or interpretation of this Agreement; and 
 (r) any portion of this Agreement obligating a Party to take any action or refrain from
taking any action, as the case may be, shall mean that such Party shall also be obligated to cause its relevant Subsidiaries and Affiliates to take such action or refrain from taking such action, as the case may be. 

ARTICLE II 

INTELLECTUAL PROPERTY ASSIGNMENT AND OWNERSHIP 

Section 2.1 Assignment of Transferred Intellectual Property. 

(a) BWTI hereby sells, assigns, conveys and transfers (the “Transfer”) to BWICO all right, title and interest, held by BWTI, in and
to the Intellectual Property set forth on Schedule 2.1(a) (the “Transferred BWTI Intellectual Property”), including all right, title and interest in and to all proceeds, causes of actions and rights of recovery against Third Parties
for past and future infringement, misappropriation, or other violation or impairment of such Intellectual Property, except to the extent prohibited by, or requiring any Consent under (to the extent such Consent


  
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has not been obtained), any Contract under which BWTI holds or uses such Transferred BWTI Intellectual Property. As consideration for the Transfer and for the rights and licenses granted in
Article 5 herein, BWICO hereby agrees to promptly pay $2,005,000 to BWTI. 
 (b) BWTI shall, and shall cause any members of the SpinCo
Group as applicable and necessary to, execute intellectual property assignment agreements in a form substantially similar to that attached hereto as Exhibit A, as applicable to the Transferred BWTI Intellectual Property, as well as such additional
specific assignments as reasonably necessary to carry out the intent of the Parties as set forth herein (collectively, the “Intellectual Property Assignment Agreements”). All Transferred BWTI Intellectual Property is transferred subject to
licenses granted in this Agreement and in the Continuing Agreement and all other rights granted under or in connection with agreements related such Transferred BWTI Intellectual Property existing and in force as of the Effective Date, in each case
subject to the terms and conditions contained in each such agreement, including, without limitation, any license agreements, any security agreements or any liens granted in and to such Transferred BWTI Intellectual Property. 

(c) BWTI shall deliver to BWICO all Intellectual Property Assignment Agreements contemplated herein that effectuate the assignment of
Transferred BWTI Intellectual Property from BWTI or any member of the SpinCo Group to BWICO. BWICO shall have the sole responsibility, at its sole cost and expense, to file such Intellectual Property Assignment Agreements and any other forms or
documents required to record such assignments, provided, however, that upon request, BWTI shall provide reasonable assistance to BWICO to record an assignment, at BWICO’s sole cost and expense. 

Section 2.2 Actions; Correspondence. BWICO shall, in its sole discretion, pay all fees incurred and take all actions with respect
to the Transferred BWTI Intellectual Property subsequent to the Effective Date. BWTI shall forward to BWICO or its designee copies of all files related to and correspondence received from any Governmental Authority regarding the Transferred BWTI
Intellectual Property. 
 Section 2.3 Assistance by Employees; Inventor Compensation. Each Party agrees that it shall make
available to the other Party the services of its employees and contractors reasonably necessary to assist the other Party with the prosecution of, and other patent or trademark office proceedings (e.g., reissue, reexamination, interference, inter
partes review, post-grant review, supplemental examination, and other similar proceedings) regarding the other Party’s Patents, Trademarks and other Intellectual Property (collectively, “IP Proceedings”). Each Party agrees to
reasonably make available to the other Party (i) inventors and other reasonably necessary persons employed by it for the other Party’s reasonable needs regarding execution of documents, interviews, declarations and testimony, and
(ii) documents, materials and information for the other Party’s reasonable good faith needs regarding such IP Proceedings. The Party involved in the IP Proceedings shall be responsible for the actual and reasonable out-of-pocket expenses
associated with such assistance, expressly excluding the value of the time of the other Party’s personnel. Each Party will be responsible for providing inventor incentive compensation to its employees under its own internal policies. No Party
shall have any obligation to provide any inventor incentive compensation to an employee of the other Party except as required by law. 

  
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 Section 2.4 Reserved.  

Section 2.5 Rights Arising in the Future. 

(a) As between BWTI and BWICO, unless otherwise agreed in writing by BWTI or any remember of the SpinCo Group and BWICO or any member of the
SpinCo Group, any and all Intellectual Property created, conceived, or actually reduced to practice by or on behalf of BWTI or any member of the SpinCo Group after the Distribution Date, including, without limitation, any improvements or
modifications to any Licensed BWTI Intellectual Property, shall belong solely and exclusively to BWTI and neither BWICO nor any member of the RemainCo Group shall have any right, title or interest in or to such Intellectual Property. BWTI shall have
no obligation to notify BWICO or any member of the RemainCo Group of any such improvements or modifications or to disclose or license any such improvements or modifications to BWICO or any member of the RemainCo Group. 

(b) As between BWICO and BWTI, unless otherwise agreed in writing by BWICO or any member of the RemainCo Group and BWTI or any member of the
SpinCo Group, any and all Intellectual Property created, conceived, or actually reduced to practice by or on behalf of BWICO or any member of the RemainCo Group after the Distribution Date, including, without limitation, any improvements or
modifications to any Licensed BWTI Intellectual Property, shall belong solely and exclusively to BWICO and neither BWTI nor any member of the SpinCo Group shall have any right, title or interest in or to such Intellectual Property. BWICO shall have
no obligation to notify BWTI or any member of the SpinCo Group of any such improvements or modifications or to disclose or license any such improvements or modifications to BWTI or any member of the SpinCo Group. 

ARTICLE III 

RESERVED 

ARTICLE IV 

RESERVED 

ARTICLE V 
 INTELLECTUAL
PROPERTY LICENSES AND COVENANTS 
 Section 5.1 Reserved. 

Section 5.2 Patent License. 

(a) General License. 
 (i)
BWTI hereby grants to BWICO a perpetual, irrevocable, exclusive, royalty-free, worldwide right and license with the right to grant sublicenses (solely as set forth in Section 5.6), to use and exploit the Patents set forth on Schedule
5.2(a)(i) (the “BWTI General Patents”) for the continued operation of the RemainCo Business and any future extensions of the RemainCo Business in the RemainCo Core Field, including the right to make, have made, use, lease, sell, offer
for sale, and import products and services utilizing the BWTI General Patents; 

  
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provided, however, the foregoing license shall not extend to (i) BWTI General Patents to the extent the licensing of same to BWICO would constitute a breach of an agreement with any Third
Party executed prior to the Effective Date or result in any expense to BWTI or any member of the SpinCo Group for payments to such Third Party or (ii) any Intellectual Property not owned by one or more members of the SpinCo Group, or as to
which no member of the SpinCo Group has the right to grant sublicenses, as of the Effective Date. 
 Section 5.3
Reserved.  
 Section 5.4 Reserved. 

Section 5.5 Reserved.  

Section 5.6 Sublicensing; Assignability. 

(a) The foregoing licenses shall be assignable in whole or in part only (i) to any Affiliate or (ii) to the extent the licensee
transfers to a Third Party all or substantially all of the assets of the business to which such Licensed BWTI Intellectual Property, as applicable, relates. 

(b) BWICO may sublicense the Licensed BWTI Intellectual Property to Affiliates of BWICO, even if they become Affiliates after the Distribution
Date, solely within the scope of its licenses in Article 5, provided that such sublicense shall only be effective for such time as such entity remains an Affiliate of BWICO, subject to Section 5.6(a)(ii). BWICO may, and may permit
its sublicensees to, sublicense erection and arrangement drawings; form, fit, and function drawings; and product and installation/erection specifications based upon the Licensed BWTI Intellectual Property to: (i) customers to enable them to
use, operate, maintain and repair the equipment, services or other deliverables which incorporate or are derived from the Licensed BWTI Intellectual Property and which were sold to them by BWICO or its sublicensees; and (ii) to contractors,
subcontractors and vendors to enable them to manufacture, erect, install, service, repair and maintain those products to which the licenses set forth in Article 5 relate. 

Section 5.7 Restrictions on Licensor Exploitation of Intellectual Property. 

(a) BWTI (i) shall not use or exploit the Licensed BWTI Intellectual Property in the RemainCo Core Field and (ii) shall not, and
shall not permit any member of the SpinCo Group to, license, provide or otherwise grant to any Third Party the right to use, exploit or access any Licensed BWTI Intellectual Property in the RemainCo Core Field. 

Section 5.8 Third Party Agreements; Reservation of Rights. 

(a) All licenses granted herein are expressly made only subject to, and only to the extent permissible under, all pre-existing rights,
obligations and restrictions contained in any existing agreements related to the applicable Intellectual Property licensed herein, including, without limitation, licenses or other rights existing in Third Parties granted by BWTI or their
sublicensees in existing license agreements, applicable agreements in existence between members of the RemainCo Group and the United States Department of Energy, applicable agreements in existence between members of the SpinCo Group and the United
States Department of Energy and all existing security agreements and liens in place in connection with such licensed Intellectual Property. 

  
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 (b) Except for the limited rights granted in this Agreement in connection with the Licensed BWTI
Intellectual Property, including, without limitation, the rights and obligations arising out of or related to Section 5.10, BWTI reserves to itself all right, title and interest in and to the Licensed BWTI Intellectual Property. Without
limiting the foregoing, for purposes of clarity, as between BWTI and BWICO, BWTI retains all rights in and to, and to use and exploit, and including without limitation the right to make, have made, use, lease, sell, offer for sale, and import, and
use, reproduce, prepare derivative works of, distribute copies, perform and display products and services which utilize or embody such Licensed BWTI Intellectual Property in the SpinCo Core Field. 

Section 5.9 Maintenance of Intellectual Property. 

(a) BWTI shall not have any obligation to maintain the pendency, subsistence, validity, enforceability or confidentiality of any Licensed BWTI
Intellectual Property. BWTI may discontinue maintenance, abandon or dedicate to the public any Licensed BWTI Intellectual Property. 

Section 5.10 Covenants. 

(a) BWTI hereby covenants not to sue BWICO under any BWTI General Patents for infringement or misappropriation based upon any action that
occurs in connection with the continued operation of the RemainCo Business and any future extensions of the RemainCo Business in any field other than the RemainCo Core Field after the Effective Date. The foregoing covenant shall extend to any
permitted assignees or sublicensees of BWICO hereunder. BWTI further covenants to impose the obligations set forth in this Section 5.10(a) on any subsequent Third Party or Affiliate to whom BWTI may sell, transfer, convey or otherwise
assign any of the foregoing Intellectual Property and shall ensure that any such Person agrees, in writing, to be bound by the covenants and obligations set forth herein. 

ARTICLE VI 

RESERVED. 

ARTICLE VII 
 NO
WARRANTIES. 
 Except as expressly set forth in this Agreement, BWTI and BWICO understand and agree that BWTI is not making any
representation or warranty of any kind whatsoever, express or implied, to BWICO in any way as to the SpinCo Business, the Transferred BWTI Intellectual Property or the Licensed BWTI Intellectual Property. WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING THE TRANSFERS AND LICENSES REFERRED TO IN THIS AGREEMENT (INCLUDING PRIOR TRANSFERS) HAVE BEEN, OR WILL BE, MADE WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY NATURE, EXPRESS OR IMPLIED, AT COMMON LAW, BY STATUTE OR OTHERWISE,


  
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RELATING TO (A) THE VALUE OR FREEDOM FROM ENCUMBRANCE OF, ANY ASSETS OR INTELLECTUAL PROPERTY, (B) THE CONDITION OR SUFFICIENCY OF ANY ASSETS OR INTELLECTUAL PROPERTY (INCLUDING ANY
IMPLIED OR EXPRESS WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, MARKETABILITY, TITLE, VALUE, FREEDOM FROM ENCUMBRANCE OR OF CONFORMITY TO MODELS OR SAMPLES OF MATERIALS, OR THE PRESENCE OR ABSENCE OF ANY HAZARDOUS MATERIALS IN OR
ON, OR DISPOSED OR DISCHARGED FROM, SUCH ASSETS), (C) THE NON-INFRINGEMENT OF ANY PATENT OR OTHER INTELLECTUAL PROPERTY RIGHT OF ANY THIRD PARTY, (D) ANY OTHER MATTER CONCERNING ANY ASSETS OR INTELLECTUAL PROPERTY (E) AS TO THE LEGAL
SUFFICIENCY TO CONVEY TITLE TO ANY ASSETS OR INTELLECTUAL PROPERTY OR (F) THAT THE LICENSOR HAS ANY RIGHTS OR TITLE AT ALL IN OR TO ANY INTELLECTUAL PROPERTY. WITHOUT LIMITING THE FOREGOING, BWICO AND BWTI HEREBY ACKNOWLEDGE AND AGREE THAT ALL
INTELLECTUAL PROPERTY TRANSFERRED OR LICENSED PURSUANT TO THIS AGREEMENT AND ALL INTELLECTUAL PROPERTY INCLUDED IN PRIOR TRANSFERS ARE BEING OR WERE LICENSED OR TRANSFERRED “AS IS, WHERE IS.” 

ARTICLE VIII 

THIRD-PARTY INFRINGEMENT 

Section 8.1 No Obligation. No Party shall have any obligation to institute or maintain any action or suit against any Third Party
for infringement or misappropriation of any Intellectual Property licensed hereunder, or to defend any action or suit brought by a Third Party which challenges or concerns the validity of any such Intellectual Property or which claims that any
Intellectual Property licensed to the other Party infringes or constitutes misappropriation of the Intellectual Property rights of any Third Party. 

Section 8.2 Notice Regarding Infringement. Each Party shall promptly notify the other Party in writing upon learning that a Third
Party may potentially be infringing, misappropriating or otherwise violating any Intellectual Property licensed under this Agreement, which notice shall set forth in reasonable detail the identity of the suspected infringer and nature of suspected
infringement. 
 Section 8.3 Suits for Infringement. 

(a) Licensed BWTI Intellectual Property. 

(i) With respect to any Licensed BWTI Intellectual Property to which BWTI has granted BWICO an exclusive license hereunder, as between BWTI and
BWICO, BWTI shall have the first right to initiate, prosecute and control any action or proceeding to restrain infringement or misappropriation of such Licensed BWTI Intellectual Property in the RemainCo Core Field, and, for purposes of clarity, the
sole and exclusive right to initiate, prosecute and control such proceedings in the SpinCo Core Field and in any field other than the RemainCo Core Field. BWTI shall provide prompt written notice to BWICO of any determination to


  
 11 








 
initiate, prosecute and control any such action or proceeding in the RemainCo Core Field. BWICO, as the exclusive licensee, agrees to be joined as a party if necessary to prosecute the action or
proceeding, and shall provide all reasonable cooperation, including any necessary use of their name, required to prosecute such action or proceeding. In such instance, BWTI shall control any such action or proceeding and negotiations for its
settlement and compromise and shall have sole discretion regarding the settlement or compromise thereof. In connection with the foregoing, BWICO may, at its option, elect to assume and pay its and BWTI’s out-of-pocket costs incurred in
connection with such litigation or proceeding undertaken by BWTI, including, without limitation, attorney’s fees. BWICO will provide prompt written notice to BWTI, in any event no later than thirty (30) after receipt of BWTI’s notice
of its determination to initiate, prosecute and control such action or proceeding in the RemainCo Core Field, of its determination to elect to assume and pay the applicable costs or to decline to pay assume and pay the applicable costs. In the event
BWICO does not elect to assume and pay the costs associated with BWTI’s initiation, prosecution and control of such action or proceeding in the RemainCo Core Field, BWTI shall assume and pay its and BWICO’s out-of-pocket costs incurred in
connection with such litigation or proceeding undertaken by BWTI, including, without limitation, attorney’s fees. Any recovery obtained as a result of such proceeding in the RemainCo Core Field shall be retained by (i) BWICO in the event
that BWICO assumed and paid the applicable costs of the litigation or proceeding or (ii) BWTI in the event that BWTI assumed and paid the applicable costs of the litigation or proceeding in accordance with this Section 8.3(a)(i).

 (ii) If BWTI does not exercise its right to enforce any applicable Licensed BWTI Intellectual Property in the RemainCo Core Field, BWTI
shall provide notice to that effect to BWICO and, as between BWTI and BWICO, BWICO shall have the right to initiate, prosecute and control any action or proceeding to restrain infringement or misappropriation of such Licensed BWTI Intellectual
Property in the RemainCo Core Field. BWICO shall provide prompt written notice to BWTI of any determination to initiate, prosecute and control any such action or proceeding in the RemainCo Core Field. BWTI, as the owner and licensor, agrees to be
joined as a party if necessary to prosecute the action or proceeding, and shall provide all reasonable cooperation, including any necessary use of their name, required to prosecute such action or proceeding. In connection with the foregoing, BWICO
shall assume and pay its and BWTI’s out-of-pocket costs incurred in connection with any litigations or proceedings described above, including, without limitation, attorney’s fees. Any recovery obtained as a result of such proceeding
related to infringement or misappropriation in the RemainCo Core Field shall be retained by BWICO. 
 (iii) In the event that a Third Party
may potentially be infringing, misappropriating or otherwise violating any Licensed BWTI Intellectual Property in both the RemainCo Core Field and the SpinCo Core Field, BWICO and BWTI will meet and confer in good faith regarding the manner in which
to respond to such infringement in the RemainCo Core Field and SpinCo Core Field collectively, provided, however, that the foregoing does not limit the rights set forth in Section 8.3(a)(i) or Section 8.3(a)(ii). 

  
 12 








 ARTICLE IX 

CONFIDENTIALITY 

Section 9.1 BWTI and BWICO shall hold and shall cause the members of the BWTI Group and the BWICO Group, respectively, to hold, and shall
each cause their respective officers, employees, agents, consultants and advisors to hold, in strict confidence and not to disclose or release without the prior written consent of the other Party, any and all Confidential Information (as defined
herein) of such other Party or the members of its Group; provided, that the Parties may disclose, or may permit disclosure of, such Confidential Information (i) to their respective auditors, attorneys, financial advisors, bankers and other
appropriate consultants and advisors who have a need to know such information and are informed of their obligation to hold such information confidential to the same extent as is applicable to the Parties and in respect of whose failure to comply
with such obligations, BWTI or BWICO, as the case may be, will be responsible or (ii) to the extent any member of the BWTI Group or the BWICO Group is compelled to disclose any such Confidential Information by judicial or administrative process
or, in the opinion of legal counsel, by other requirements of Law. Notwithstanding the foregoing, in the event that any demand or request for disclosure of Confidential Information is made pursuant to clause (ii) above, BWTI or BWICO, as the
case may be, shall promptly notify the other of the existence of such request or demand and shall provide the other a reasonable opportunity to seek an appropriate protective order or other remedy, which both Parties will cooperate in seeking to
obtain. In the event that such appropriate protective order or other remedy is not obtained, the Party who is being compelled to disclose (or whose Group member is being compelled to disclose) shall, and shall cause the applicable members at its
Group to, furnish, or cause to be furnished, only that portion of such Confidential Information that is legally required to be disclosed. 

Section 9.2 As used in this Article 9, “Confidential Information” shall mean all proprietary, technical or proprietary,
operational information (including Know-How and proprietary information relating to the ages, birth dates, social security numbers, health-related matters or other confidential matters concerning employees or former employees) of one Party or
members of its Group which, prior to or following the Distribution Time, has been disclosed by BWTI or members of the BWTI Group, on the one hand, or BWICO or members of the BWICO Group, on the other hand, to, or otherwise has come into the
possession of, the other Group, including pursuant to the technical assistance and technology transfer provisions of Article VI hereof or any other provision of this Agreement (except to the extent that such information can be shown to have been
(a) in the public domain through no fault of such Party (or, in the case of BWTI, any other member of the BWTI Group or, in the case of BWICO, any other member of the BWICO Group) or (b) later lawfully acquired from other sources by the
Party (or, in the case of BWTI, such member of the BWTI Group or, in the case of BWICO, such member of the BWICO Group) to which it was furnished; provided, however, in the case of (b) that such sources did not provide such information in
breach of any confidentiality obligations), or (c) independently developed by employees or agents of such Party who had no access, direct or indirect, to such information provided by the other Party. 

  
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 (a) Each Party shall use the Confidential Information only as permitted pursuant to this
Agreement and shall not disclose any Confidential Information to any Third Party unless permitted pursuant to this Agreement. Each Party shall exercise the same degree of care to protect and maintain the confidentiality of the Confidential
Information received from the other Party hereunder (but no less than a reasonable degree of care) as they take to preserve confidentiality for their own similar information. Without limiting the foregoing, each Party will take commercially
reasonable efforts to implement and maintain comprehensive security protocols to protect and maintain the confidentiality of the Confidential Information received from the other Party hereunder, including, without limitation, implementing
administrative, technical, digital, electronic and physical security strategies and access restrictions to protect Confidential Information. 

ARTICLE X 

MISCELLANEOUS 

Section 10.1 Authority. Each of the Parties represents to the other that (a) it has the corporate or other requisite power
and authority to execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement by it has been duly authorized by all necessary corporate or other actions, (c) it has duly and validly executed
and delivered this Agreement to be executed and delivered on or prior to the Effective Date, and (d) this Agreement is legal, valid and binding obligations, enforceable against it in accordance with their respective terms subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting creditors’ rights generally and general equity principles. 

Section 10.2 Entire Agreement. This Agreement and the Schedules referenced herein or therein or attached hereto or thereto,
constitute the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersedes all prior written and oral and all contemporaneous oral agreements and understandings with respect to the subject matter
hereof. 
 Section 10.3 Binding Effect; Third-Party Beneficiaries; Assignment. Except as expressly set forth in
Section 5.10 and except for the Affiliates of the Parties, which are intended to be third party beneficiaries hereunder, this Agreement does not and is not intended to confer any rights or remedies upon any Person other than the Parties.
This Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns. This Agreement may not be assigned by either Party, except with the prior written consent of the other Party. 

Section 10.4 Amendment. No change or amendment may be made to this Agreement except by an instrument in writing signed on behalf
of both of the Parties. 
 Section 10.5 Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or delay on the part
of either Party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty, covenant or agreement contained herein, nor shall any single or partial
exercise of any such right preclude other or further exercise thereof or of any other right. All rights and remedies existing under this Agreement or the Schedules attached hereto are cumulative to, and not exclusive of, any rights or remedies
otherwise available. 

  
 14 








 Section 10.6 Notices. Unless otherwise expressly provided herein, all notices,
claims, certificates, requests, demands and other communications hereunder shall be in writing and shall be deemed to be duly given (i) when personally delivered or (ii) if mailed by registered or certified mail, postage prepaid, return
receipt requested, on the date the return receipt is executed or the letter is refused by the addressee or its agent or (iii) if sent by overnight courier which delivers only upon the signed receipt of the addressee, on the date the receipt
acknowledgment is executed or refused by the addressee or its agent or (iv) if sent by facsimile or electronic mail, on the date confirmation of transmission is received (provided that a copy of any notice delivered pursuant to this
clause (iv) shall also be sent pursuant to clause (i), (ii) or (iii)), addressed to the attention of the addressee’s General Counsel at the address of its principal executive office or to such other address or facsimile number for a
Party as it shall have specified by like notice. 
 Section 10.7 Counterparts. This Agreement, including the Schedules and
Exhibits hereto and the other documents referred to herein, may be executed in multiple counterparts, each of which when executed shall be deemed to be an original but all of which together shall constitute one and the same agreement. 

Section 10.8 Severability. If any term or other provision of this Agreement or the Schedules attached hereto is determined
by a nonappealable decision by a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either Party. Upon such determination that any term or other provision is invalid, illegal
or incapable of being enforced, the court, administrative agency or arbitrator shall interpret this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated
hereby are fulfilled to the fullest extent possible. If any sentence in this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as is enforceable. 

Section 10.9 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the
substantive laws of the State of Delaware, without regard to any conflicts of law provisions thereof that would result in the application of the laws of any other jurisdiction. 

Section 10.10 Construction. This Agreement shall be construed as if jointly drafted by BWICO and BWTI and no rule of
construction or strict interpretation shall be applied against either Party. The Parties represent that this Agreement is entered into with full consideration of any and all rights which the Parties may have. The Parties have relied upon their own
knowledge and judgment and upon the advice of the attorneys of their choosing. The Parties have had access to independent legal advice, have conducted such investigations they and their counsel thought appropriate, and have consulted with such other
independent advisors as they and their counsel deemed appropriate regarding this Agreement and their rights and asserted rights in connection therewith. The Parties are not relying upon any representations or statements made by any other Party, or
such other Party’s employees, agents, representatives or attorneys, regarding this Agreement, except to the extent such representations are expressly set forth or incorporated in this Agreement. The Parties are not relying upon a legal duty, if
one 

  
 15 








 
exists, on the part of the other Party (or such other Party’s employees, agents, representatives or attorneys) to disclose any information in connection with the execution of this Agreement
or its preparation, it being expressly understood that neither Party shall ever assert any failure to disclose information on the part of the other Party as a ground for challenging this Agreement. 

Section 10.11 Performance. Each Party shall cause to be performed, and hereby guarantees the performance of, all actions,
agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party. 
 [INTENTIONALLY LEFT BLANK] 

  
 16 








 WHEREFORE, the Parties have signed this Agreement effective as of the date first set forth above.

  

			
	BABCOCK & WILCOX TECHNOLOGY, INC.
		
	By:		  

	Name:		
	Title:		
	
	BABCOCK & WILCOX INVESTMENT COMPANY
		
	By:		  

	Name:		
	Title:		








 Schedule 1.1(e) 

SpinCo Core Field; RemainCo Core Field 

SpinCo Core Field means: 
 1. Ownership and/or operation
of power generation facilities fired with combustible fossil fuels (e.g., coal, coal slurry, oil or natural gas), biomass, municipal solid waste or concentrated solar energy through tower based solar thermal conversion systems, in each case for the
provision of power, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as
well as United Kingdom NDA or MOD sites). 
 2. Design, development, research, engineering, procurement, fabrication, analysis, manufacture, construction,
installation, supply, marketing, sale, lease, rent, commissioning, training, delivery, inspection, testing of, support, operations, inspection, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, repowering/fuel
switching, relocation, localization, or other services, including project management, construction project management or consultation, plant, system or component licensing, siting support or consultation, environmental, safety, health, laboratory
analysis, engineering studies, field engineering services, nondestructive testing, evaluation or analytical services, metallographic analysis, consulting services, troubleshooting, failure analysis, cleaning, upgrading, tooling, or decommissioning
related to: 
  

	 	(a).	Fired steam generators encompassing fossil fuel boilers which are fueled by combustible fossil fuels (e.g., coal, coal slurry, oil or natural gas) or support subsystems, equipment or components thereof, including fuel
drying, fuel feed, pulverizers, burners, combustion systems, grates, pressure parts, air heaters, fans, boiler cleaning systems, ash systems, valves, controls & diagnostics, oxycombustion systems, condensing heat exchangers used in
connection with such fired steam generators, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to
NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 

  

	 	(b).	Fired steam generators encompassing waste fuel boilers which are fueled by combustible waste fuels (e.g., carbon monoxide, biomass, black liquor, municipal solid waste (MSW) or refuse-derived fuel (RDF)) or support
subsystems, equipment or components thereof, including fuel drying, fuel feed, pulverizers, burners, combustion systems, grates, pressure parts, air heaters, fans, boiler cleaning systems, ash systems, valves, controls & diagnostics,
oxycombustion systems, condensing heat exchangers used in connection with such fired steam generators, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign
government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 









	 	(c).	Gasifier systems which partially convert fossil or waste fuels (e.g., coal, oil, natural gas or biomass) to syngas and support subsystems, equipment or components thereof, including fuel drying, fuel feed, pulverizers,
burners, combustion systems, gasifiers, heat exchangers used in connection with such gasifier systems, pressure parts, boiler cleaning systems, ash systems, valves, controls & diagnostics, other than maintenance and operation services
performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 


 

	 	(d).	Tower-based solar thermal conversion systems which are enabled by solar energy and support subsystems, equipment or components thereof, including receiver system, pressure parts, molten salt or particle systems (e.g.,
heat exchangers specifically for tower-based solar thermal conversion systems enabled by solar energy or associated pumps or tanks), valves, controls or diagnostics, other than maintenance and operation services performed as part of overall facility
operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 


 

	 	(e).	The following specific unfired heat exchangers Turbine Exhaust Gas boilers (10K2), Heat Recovery Steam Generation Boilers (10K22), Water Tube Waste Heat Boilers Two Drum (Stirling Types) (1K4), 3 Drum Waste Heat
Recovery Boiler (1K4), Water Tube Waste Heat “H” Stirling Boiler (1K4), Water Tube Long Drum (LD) boiler (1K4), CO boiler (1K26), Waste Heat (WH) (1K4), Oxygen Convertor Hoods (1K44), Gas Tube (FT) boilers (1K46), FM boilers (1K239), FO
boilers (1K2311), Struthers Wells type EOR boiler as defined by the existing specific referenced design standards, or support subsystems, equipment or components thereof, including pressure parts, cleaning systems, valves, controls or diagnostics,
other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United
Kingdom NDA or MOD sites). 

  

	 	(f).	Chemical looping conversion systems which are fueled by combustible fossil fuels (e.g., coal, coal slurry, oil or natural gas) and which produce an energy output of steam, CO2, H2 or syngas or support subsystems, equipment or components thereof, including fuel feed, pulverizers, reactors, pressure parts, air
heaters, fans, boiler cleaning systems, ash systems, valves, controls or diagnostics, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies
or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 

  

	 	(g).	Pulverized coal injection systems for use in connection with steel production or support subsystems, equipment or components thereof, including pulverizers, pressurization systems, tanks, valves, controls or
diagnostics, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well
as United Kingdom NDA or MOD sites). 









	 	(h).	Heat transfer surface cleaning systems and support subsystems, equipment and components thereof (other than said systems related to or utilized in connection with nuclear fueled systems and expressly excluding nuclear
steam generators), including sootblowers (air, steam, water or sonic), related valve or piping systems, sprayers, controls (basic, intelligent) or diagnostics, other than maintenance and operation services performed as part of overall facility
operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 


 

	 	(i).	Ash handling systems or support subsystems, equipment or components thereof, including mechanical conveyors (wet or dry), pneumatic conveyors (wet, dry, dilute, or dense phase), ash conditioning, tanks, valves,
specialty piping, controls or diagnostics, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to
NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 

  

	 	(j).	Industrial pulverizer or grinding equipment systems or support subsystems (other than said systems or support subsystems related to or utilized in connection with nuclear fuel manufacturing or processing), other than
maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or
MOD sites). 

  

	 	(k).	Drying and/or coating systems utilizing continuous and/or batch flow dryer/oven equipment for industrial processes, including but not limited to various production lines (e.g., roll fed, sheet fed, coating, drying or
web handling), dryers and/or ovens (e.g., air flotation dryers or ovens, roll support dryers, infrared dryers, ultraviolet dryers, microwave or radio frequency), coating line auxiliary equipment, festoon and catenary style ovens, valves and material
handling systems, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as
well as United Kingdom NDA or MOD sites). 

  

	 	(l).	Utility emissions control systems used in connection with combustion power generation systems, which are designed to remove nitrogen oxides (e.g., SCR or SNCR), sulfur oxides (e.g., WFGD, SDA, CDS, DSI, or others),
particulates (e.g., dry ESP, wet ESP, fabric filter or cyclonic), carbon dioxide (e.g., scrubber systems), hydrocarbons, or air toxics (e.g., Sb, Be, Cd, Cr, Co, Pb, Mn, Ni, (SO2)3, HF, Hg, P, Se, Cd, As, or HCl (or other acid gases)), HAPS,
dioxins, furans or others) and/or subsequent energy or waste recovery or associated subsystems, equipment or components thereof, including valves, other than maintenance and operation services performed as part of overall facility operation and
management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 









	 	(m).	Wastewater treatment systems (i) that process wastewater derived from combustion power generation and municipal solid waste (“MSW”) systems, including without limitation FGD dewatering systems or zero
liquid discharge (ZLD) systems, or associated subsystems, equipment or components thereof, including valves or (ii) that process wastewater as part of or ancillary to the systems set forth in SpinCo Core Field 2(k), 2(l) or 2(n), in each case
other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United
Kingdom NDA or MOD sites). 

  

	 	(n).	Industrial emission control, gas cleaning and/or conditioning, or liquids purification and/or recovery systems (other than said systems set forth in RemainCo Core Field 1(m)), including SCR, SNCR, WFGD, SDA, CDS, DSI,
other scrubbers, dry ESP, wet ESP, fabric filter, cyclonic, solvent recovery systems, biological abatement systems, solvent distillation systems (including waste water treatment), evaporative gas conditioning and cooling systems or regenerative
thermal (and other) oxidation systems or associated subsystems, equipment or components thereof, including valves, for the removal of nitrogen oxides, sulfur oxides, particulates, carbon dioxide, hydrocarbons, or air toxics (e.g., Sb, Be, Cd,
Cr, Co, Pb, Mn, Ni, (SO2)3, HF, Hg, P, Se, As, Cd, HCl (or other acid gases)), HAPS, dioxins, furans, others) and/or subsequent energy or waste recovery, other than maintenance and operation
services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites).


  

	 	(o).	Hybrid power generation systems or associated equipment where renewable energy sources are combined with a combustible fossil fuel (e.g., coal, coal slurry, oil or natural gas) or combustible waste fuel (e.g., carbon
monoxide, biomass, black liquor, MSW or RDF) primary energy source, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or foreign government agencies or entities
(including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 

 3. Engineering procurement, construction,
installation, supply, lease, commissioning, training , delivery, inspection, testing of, support, operations, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, relocation, project management, construction
management, technical advice, construction consultation, siting support or consultation, environmental services or consultation, safety, health, troubleshooting, cleaning, upgrading and tooling of balance of plant for power generation facilities
fired with combustible fossil fuels (e.g., coal, coal slurry, oil or natural gas) and pulp and paper facilities, other than maintenance and operation services performed as part of overall facility operation and management contracts for domestic or
foreign government agencies or entities (including but not limited to NNSA, NASA, DOD, DOE, as well as United Kingdom NDA or MOD sites). 
 RemainCo Core
Field means: 
 1. Design, development, research, engineering, procurement, fabrication, analysis, manufacture, construction, installation, supply,
marketing, sale, lease, rent, commissioning, training, delivery, inspection, testing of, support, operations, inspection, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, repowering/fuel switching,








 
relocation, localization, or other services, including project management, construction project management or consultation, plant, system or component licensing, siting support or consultation,
environmental, safety, health, laboratory analysis, engineering studies, field engineering services, nondestructive testing, evaluation or analytical services, metallographic analysis, consulting services, troubleshooting, failure analysis,
cleaning, upgrading, tooling, or decommissioning, related to: 
  

	 	(a).	Nuclear facilities and nuclear reactor plants, nuclear reactor systems, nuclear reactors, including all thermal reactors (including all heavy-water and light-water reactors), all water cooled reactors, all liquid metal
cooled reactors (including sodium cooled reactors), gas cooled reactors (including helium, carbon dioxide and nitrogen) and molten salt reactors, breeder reactors, traveling wave reactors, high temperature reactors, small modular nuclear reactors,
medical isotope reactors and components thereof and all Generation I, Generation II, Generation III and all advanced reactors, including and Generation IV reactors and iterations thereof regardless of design, and hybrid power generation systems and
associated equipment where renewable energy sources are combined with a nuclear primary energy source. 

  

	 	(b).	Support systems and subsystems, equipment and components of nuclear systems and nuclear reactors, including, reactor coolant systems, reactor protection, control and instrumentation systems, reactor auxiliary and safety
systems, balance of plant systems, reactor vessel closure heads, reactor and other pressure vessels and internals, reactor coolant pumps, stators and motors, reactor fuel channels, feeders and related components, steam generators, reactor control
rod drive mechanisms and other reactor electro-mechanical equipment and controls therefore, specialized tooling and inspection systems, heat exchangers, pressurizers, primary and secondary piping, valves and pumps, spent fuel and other nuclear fuel
and nuclear material storage and shipping, nuclear waste containers and related systems, audio/visual systems, steam generator tube inspection systems, repair, modification and stabilization systems, tube plugging and tube removal systems.


  

	 	(c).	Nuclear fuel and nuclear fuel components, including enrichment and any related components, assembly, nuclear fuel plant processes, manufacturing systems and processes and systems for the chemical processing of
radiological materials, fuel core and fuel bearing precision components, fuel powder, sources, targets, targets for medical isotope production and industrial isotope production, targets for research and analysis in research reactors, graphite
reflectors and control rods, poisons and other special nuclear materials for development and manufacturing of fuel components for pebble bed and other reactors. 

  

	 	(d).	Electro-mechanical devices related to or used in commercial, research, government, military and other nuclear facilities, reactors or vessels and associated subsystems, equipment and components thereof.


  

	 	(e).	Advanced power systems for space applications and associated subsystems, equipment and components thereof. 

  

	 	(f).	Nuclear and non-nuclear propulsion systems for naval (U.S. and foreign) submarines and aircraft carriers and associated subsystems, equipment and components thereof, including all aftermarket, replacement and repair
parts, components and equipment for existing naval submarines and aircraft carriers. 









	 	(g).	Nuclear propulsion systems for naval (U.S. and foreign) vessels other than submarines and aircraft carriers and associated subsystems, equipment and components thereof, including aftermarket, replacement and repair
parts, components and equipment for such existing vessels. 

  

	 	(h).	Single crystal composite and ceramic materials for use in nuclear, defense, space and aerospace applications and subsystems, equipment and components thereof 


 

	 	(i).	High energy physics equipment, including electro-magnetic storage devices, power conversion and conditioning systems, superconducting materials and plasma energy systems, and, in each case, subsystems and components
thereof, excluding energy storage systems that store kinetic energy using a rotating mass with low friction losses and deliver the stored energy via power electronics that convert kinetic to electrical energy using electrical equipment typical for
that type of service. 

  

	 	(j).	Ordnance components, subsystems and components thereof. 

  

	 	(k).	Unfired heat exchangers where the applicable heat source energy input is derived from the release and/or use of nuclear energy or support subsystems, equipment or components thereof, including pressure parts, cleaning
systems, valves, controls or diagnostics. 

  

	 	(l).	Wastewater treatment systems that process wastewater derived from the release and/or use of nuclear energy and subsystems, equipment and components thereof 


 

	 	(m).	Emission control systems related to nuclear fuel manufacture or fabrication, storage of nuclear materials and waste and nuclear powered systems and subsystems, equipment and components thereof. 


2. Chemical and physical processing, storage and decontamination of and other management, operations, safety, security, emergency management, remediation and
technical services related to radiological materials (including highly enriched uranium, low enriched uranium, natural uranium, fissile material and transuranic material), including receipt, storage, inspection, characterization, dissolution,
recovery and purification, downblending, recycling, scrap recovery and processing and related research, development, engineering and analysis. 
 3.
Developing and providing services related to security (including direct security services as well as training, consulting and similar services) for new or existing commercial, research, government, military and other facilities or vessels, including
tactical security, security training, IT security, development of security processes, fitness for duty and government compliance (both contractual compliance) and in connection with NRC or other applicable licensing requirements. 

4. Provide facility operation and maintenance services, including production and program management, maintenance (including maintenance and service of fossil
fired and renewable power generation systems performed as part of overall facility operation and management contracts), operation, environmental health and safety, security, emergency management, wastewater treatment, remediation and abatement,
decontamination and decommissioning material storage and disposition and other related technical services, to domestic or foreign agencies (including but not limited to NNSA, NASA, DOD, DOE as well as United Kingdom NDA or MOD sites) and commercial
entities related to critical infrastructure, nuclear, non-nuclear and biological activities such as nuclear operations of reactors and reactor facilities, laboratory (including national laboratories) and other facility operations, weapons
production, refurbishment, storage and stockpile management, component (including centrifuge) manufacturing, medical and industrial isotope development and manufacture, and Chemical Laboratory Analysis Capability by SEM, Mass Spectrometer and
similar equipment, excluding 







 
the provision of the foregoing services for solely standalone power generation facilities fired with combustible fossil fuels, biomass or municipal solid waste or concentrated solar energy
through tower based solar thermal conversion systems For the avoidance of doubt, the foregoing does not include the design, manufacture, installation, supply, sale and supply of hardware, including entire systems, within the SpinCo Core Field
(including, without limitation, the systems set forth in SpinCo Core Field 2(k), 2(l), 2(m) and 2(n)) to domestic or foreign agencies or commercial entities. 

For the avoidance of doubt, the following are not included in the SpinCo Core Field or the RemainCo Core Field: 

Design, development, research, engineering, procurement, fabrication, analysis, manufacture, construction, installation, supply, marketing, sale, lease, rent,
commissioning, training, delivery, inspection, testing of, support, operations, inspection, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, repowering/fuel switching, relocation, localization, or other services,
including project management, construction project management or consultation, plant, system or component licensing, siting support or consultation, environmental, safety, health, laboratory analysis, engineering studies, field engineering services,
nondestructive testing, evaluation or analytical services, metallographic analysis, consulting services, troubleshooting, failure analysis, cleaning, upgrading, tooling, or decommissioning related to the following: 

(a). Un-fired heat exchangers other than those identified in SpinCo Core Field 2(e) or unfired heat exchangers where the applicable heat source energy input is
derived from the release and/or use of nuclear energy, and support subsystems, equipment and components thereof, including pressure parts, cleaning systems, valves, controls, diagnostics, repair equipment and services. 

(b). Production of hydrogen by other high temperature processes. 

(c). Non-nuclear propulsion systems for naval (U.S. and foreign) vessels other than submarines and aircraft carriers, and associated subsystems equipment and
components thereof, including aftermarket, replacement and repair parts, components and equipment for such existing vessels. 
 (d). Non-naval (i.e.,
commercial marine) propulsion systems and associated subsystems, equipment and components thereof, including aftermarket, replacement and repair parts, components and equipment for existing systems. 







 Schedule 1.1(i) 

Specific RemainCo Field; Specific SpinCo Field 

“Specific SpinCo Field” means the design, development, research, engineering, procurement, fabrication, analysis, manufacture, construction,
installation, supply, marketing, sale, lease, rent, commissioning, training, delivery, inspection, testing of, support, operations, inspection, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, repowering/fuel
switching, relocation, localization, or other services, including project management, construction project management or consultation, plant, system or component licensing, siting support or consultation, environmental, safety, health, laboratory
analysis, engineering studies, field engineering services, nondestructive testing, evaluation or analytical services, metallographic analysis, consulting services, troubleshooting, failure analysis, cleaning, upgrading, tooling, or decommissioning,
related to heat exchangers specifically for tower-based solar thermal conversion systems enabled by solar energy and support subsystems, equipment or components thereof, including pressure parts, cleaning systems, valves, controls or diagnostics.

 “Specific RemainCo Field” means the design, development, research, engineering, procurement, fabrication, analysis, manufacture, construction,
installation, supply, marketing, sale, lease, rent, commissioning, training, delivery, inspection, testing of, support, operations, inspection, maintenance, upgrade, repair, refurbishment, rebuilding, replacement, modification, repowering/fuel
switching, relocation, localization, or other services, including project management, construction project management or consultation, plant, system or component licensing, siting support or consultation, environmental, safety, health, laboratory
analysis, engineering studies, field engineering services, nondestructive testing, evaluation or analytical services, metallographic analysis, consulting services, troubleshooting, failure analysis, cleaning, upgrading, tooling, or decommissioning,
related to: 
  

	 	(a).	Nuclear facilities and nuclear reactor plants, nuclear reactor systems, nuclear reactors, including all thermal reactors (including all heavy-water and light-water reactors), all water cooled reactors, all liquid metal
cooled reactors (including sodium cooled reactors), gas cooled reactors (including helium, carbon dioxide and nitrogen) and molten salt reactors, breeder reactors, traveling wave reactors, high temperature reactors, small modular nuclear reactors,
medical isotope reactors and components thereof and all Generation I, Generation II, Generation III and all advanced reactors, including and Generation IV reactors and iterations thereof regardless of design, and hybrid power generation systems and
associated equipment where renewable energy sources are combined with a nuclear primary energy source. 

  

	 	(b).	 Support systems and subsystems, equipment and components of nuclear systems and nuclear reactors, including, reactor coolant systems, reactor
protection, control and instrumentation systems, reactor auxiliary and safety systems, balance of plant systems, reactor vessel closure heads, reactor and other pressure vessels and internals, reactor coolant pumps, stators and motors, reactor fuel
channels, feeders and related components, steam generators, reactor control rod drive mechanisms and other reactor electro-mechanical equipment and controls therefore, specialized tooling and inspection systems,











	 	
heat exchangers, pressurizers, primary and secondary piping, valves and pumps, spent fuel and other nuclear fuel and nuclear material storage and shipping, nuclear waste containers and related
systems, audio/visual systems, steam generator tube inspection systems, repair, modification and stabilization systems, tube plugging and tube removal systems. 

  

	 	(c).	Nuclear fuel and nuclear fuel components, including enrichment and any related components, assembly, nuclear fuel plant processes, manufacturing systems and processes and systems for the chemical processing of
radiological materials, fuel core and fuel bearing precision components, fuel powder, sources, targets, targets for medical isotope production and industrial isotope production, targets for research and analysis in research reactors, graphite
reflectors and control rods, poisons and other special nuclear materials for development and manufacturing of fuel components for pebble bed and other reactors. 

  

	 	(d).	Naval nuclear propulsion systems and associated subsystems, equipment and components thereof, including aftermarket, replacement and repair parts, components and equipment for existing systems. 








 The company agrees to furnish supplementally a copy of any omitted exhibit or schedule to the Commission upon
request.