Document:

Amended and Restated Refined Coal Activities Supplemental Compensation Plan

 Exhibit 10.51 
 ADA-ES, INC. 
 Amended and Restated 

Refined Coal Activities 
 Supplemental Compensation Plan for 
 Employees, Contractors and
Consultants of ADA-ES, Inc. 
 November 9, 2011 

1. Establishment of the Plan. ADA-ES, Inc., by action of the Compensation Committee of the Board of Directors (the
“Administrator”), established the “Refined Coal Activities Supplemental Compensation Plan” on April 20, 2010 and adopted this Amended and Restated Refined Coal Activities Supplemental Compensation Plan on
November 9, 2011, with additional revisions approved on February 20, 2012 (the “Plan”) for Company employees, consultants and/or contractors, upon the terms and subject to the conditions set forth herein. The Plan shall be
administered by the Administrator. 
 2. Purpose of the Plan. The purpose of the Plan is to incent Company
employees, consultants and contractors who are actively involved with the Company’s Refined Coal Activities (as defined herein) to work for the success of such activities. In order to promote this purpose, the Company established the Plan under
which it will make available a pool of funds (the “Incentive Pool”) from which payments shall be made to named, designated participants in the Plan (“Designated Participants”) from certain amounts received by the
Company from Refined Coal Activities (as defined herein). 
 3. Definitions. Capitalized terms not otherwise
defined herein shall have the meanings ascribed to them in Exhibit A hereto. 
 4. Establishment of the
Incentive Pool. The Incentive Pool shall consist of an amount equal to seven percent (7%), of the Net Contribution Margin received by the Company from the Company’s Refined Coal Activities. The Net Contribution Margin and Incentive Pool
shall be calculated annually following the close of the Company’s fiscal year for such fiscal year, in accordance with the terms and conditions set forth herein. 
 5. Allocation and Payment of Incentive Pool Amounts: The Incentive Pool shall be allocated to the following Designated Participants in the stated amounts, provided such Persons meet the
eligibility requirements set forth in Section 6 hereof: 
 Michael Durham, as Chief Executive Officer of the Company –
3% of the Net Contribution Margin or 42.86% of the Incentive Pool. 
 Other Participant(s) – 4% of the Net Contribution
Margin or 57.14% of the Incentive Pool. 
 Payments of the amounts allocated to Designated Participants under the Plan shall be made as soon as
practicable following the end of each fiscal year. 

  
 ADA-Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
  

 6. Eligibility Requirements. In order to be eligible as an “Other
Participant,” a Person must have been a Company employee, consultant or contractor during the fiscal year for which the designation is made. Dr. Durham shall determine the Other Participants and the relative percentage of the Incentive
Pool (out of the 57.14% allocated to Other Participants) to be allocated to each such Other Participant, annually following the close of the Company’s fiscal year for that fiscal year. No Person shall be entitled to any rights to any past or
future amounts payable under the Plan for any fiscal year other than the year for which such Person is a Designated Participant. 
 7. Termination of Participant Status Following Designation as an Other Participant. If Dr. Durham or any Person designated as an Other Participant is terminated or terminates his or her
employment, consulting or contracting relationship with the Company (a “Terminated Participant”) after a designation has been made for that Person, but prior to payment of the amounts allocated to the Incentive Pool for a fiscal
year for which the Terminated Participant has been so designated, any amount due and owing to such Terminated Participant as of the time of termination shall be paid to such Participant at the same time as the next payment made to the Other
Participants; provided, however, that the Company shall be entitled to set off against any amount owed to a Terminated Participant any amount owed or owing by the Terminated Participant to the Company. 

8. Claw-Back. Unless otherwise determined by the Administrator, if the Company becomes obligated as of any
particular date to repay, return, refund or otherwise pay back to any Person(s) any amount that has been included in Revenue hereunder that must be so repaid, returned, refunded or paid back (the “Repayment Amount”), or if any
amount was paid to a Designated Participant who was at the time of such payment an Executive Officer of the Company (“Executive Designated Participant”) in error (an “Erroneous Payment Amount”), the Company shall
deduct all amounts paid out to any Executive Designated Participant hereunder that comprise the Erroneous Payment Amount or that were based on the Repayment Amount (collectively the “Claw-Back Amount”) from any future amounts
payable to such Executive Designated Participant under any Company bonus or incentive plan or program (including without limitation the Plan), if the Claw-Bank Amount exceeds $20,000. The Company shall not otherwise be entitled to any return of the
Claw-Back Amount (i.e. it cannot offset such amounts against future wages or request a return of such amounts from any Designated Participant other than an Executive Designated Participant or from any Executive Designated Participant who is not
entitled to any future amounts payable under any Company bonus or incentive plan or program). 
 9. Other
Applicable Terms and Conditions: 
 (a) Payment of any amounts due to Designated Participants hereunder will be made
annually, and will not be due and payable until the Company has actually received cash comprising the Revenue includible in the Incentive Pool for that fiscal year. 
 (b) If Dr. Durham shall cease to be employed by the Company for any reason, the amount reserved to him under the Plan shall thereafter not be included in the Incentive Pool. The Plan Administrator
shall have the authority to adopt additional rules and regulations as it determines in its sole discretion under the Plan and such rules and regulations shall be binding on all Designated Participants. 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
  
 2

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 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
 3 

 Exhibit A 
 To 
 Amended & Restated 

Refined Coal Activities 
 Supplemental Compensation Plan 
 Definitions: 

Capitalized terms used in the Plan that are not otherwise defined in the Plan have the definitions set forth herein: 

 

	 	a.	“Attributed Revenue” shall have the meaning set forth in Paragraph (v) of the definition of Revenue herein. 

 

	 	b.	“Company” means ADA-ES, Inc., its wholly owned subsidiary ADA Environmental Solutions, LLC, and any successors thereto. 

 

	 	c.	“CCS” means Clean Coal Solutions, LLC (f/k/a ADA-NexCoal, LLC) and any successor thereto. 

 

	 	d.	“CCCS” means Clean Coal Solutions Services, LLC and any successors thereto. 

 

	 	e.	“Executive Officer” shall have the meaning set in Rule 3b-7 of the Securities Exchange Act of 1934. 

 

	 	f.	“Net Contribution Margin” means “Revenues” (as hereafter defined) less “Expenses” (as hereafter defined) related to
Refined Coal Activities, on a fiscal year basis at the Company level, as determined from the inception of each Refined Coal Activity included in the Plan, as determined in accordance with the accounting policies and practices of the Company
consistently applied, and subject to the other terms and conditions set forth herein. 

 For purposes of
calculating the Net Contribution Margin, Revenues and Expenses shall be determined as follows: 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
  

	 	“Revenues”	shall consist of the following: 

  

	 	i.	Payments received by the Company from the sale of Chemicals and Additives by ADA-ES, Inc. to CCS or CCSS (or any CCS or CCSS customer) pursuant to that certain
Chemicals, Equipment and Technical Engineering Services Supply Agreement dated as of November 3, 2006, as amended by First Amendment to Chemicals, Equipment and Technical Engineering Services Supply Agreement dated as October 26, 2009, as
may be amended from time to time hereafter, by and between ADA-ES, Inc. and CCS, or any similar agreement under which the Company sells Chemicals and Additives to CCS or CCSS or any of their customers (collectively the “Supply
Agreement”), that are generated by each new CCS or CCSS customer (including for purposes hereof any subsidiary of CCS that owns or operates a facility that produces Refined Coal and purchases Chemical and Additives from the Company), where
such customer is added during the Plan Period. 

  

	 	ii.	Payments received by ADA-ES, Inc. from the sale of Technical Engineering Services by ADA-ES, Inc. to CCS or CCSS (or to CCS or CCSS customers) pursuant to the Supply
Agreement that are generated during the Plan Period. 

  

	 	iii.	Distributions received by ADA-ES, Inc. from CCS arising from CCS’ cash flows attributable to ordinary business operations during the Plan Period under that certain
Second Amended and Restated Operating Agreement of Clean Coal Solutions, LLC dated as of May 27, 2011 by and among ADA-ES, Inc., NexGen Refined Coal, LLC and GSFS Investments I Corp., as members, and CCS. 

 

	 	iv.	Nonrefundable royalties (or payments of a similar nature) received by the Company for license(s) or other rights to use technology developed by the Company for purposes
of producing Refined Coal as part of a Refined Coal Activity. If the Company receives royalties or payments that are by their terms refundable or returnable, they shall not be included in Revenue under the Plan until they are no longer refundable by
the Company. 

  

	 	v.	 In the event of a transaction involving the sale or transfer by the Company of an equity interest in CCS or in another entity in which the Company has
an interest and through which a Refined Coal Activity is being carried out (a “Sale Transaction”), Revenue shall include an amount equal to the Revenue (as defined above) attributable to the interest sold or transferred in the Sale
Transaction (the “Attributed Revenue”) for the period(s) during which such amount would otherwise have been included in Revenue but for the Sale Transaction, and such Attributed Revenue shall be allocated on an annual basis to the
Net Contribution Margin for the 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
 2 

	 	
period during which such Attributed Revenue would have been received but for the Sale Transaction. Revenue shall not include any amounts received by the Company for the interest being sold or
transferred in the Sale Transaction. A Sale Transaction shall not include a transaction where the sale of the interest is for the sale of a subsidiary done for the purpose of “monetizing” the Section 45 tax credits available for the
sale of Refined Coal being produced by a facility owned by such subsidiary. 

  

	 	vi.	Other cash payments received by the Company that are similar and consistent with those described in paragraphs i – v in this Paragraph above resulting from Refined
Coal Activities included in the Plan in accordance with the definition of Refined Coal Activities set forth herein. 

 “Expenses” shall consist of the following: 
  

	 	i.	All cash and non-cash compensation paid to consultants or contractors engaged by the Company from the inception of each activity constituting a Refined Coal Activity
included in the Plan. 

  

	 	ii.	All cash and non-cash compensation paid to Company personnel (including executives, consultants or contractors) for services attributable to any Refined Coal Activity
included in the Plan, from the inception of any Refined Coal Activity (including amounts that should be so attributed as a result of the nature of the services rendered to the Company by such Persons). 

 

	 	iii.	The costs incurred by the Company for Chemicals and Additives sold to CCS or CCSS (or CCS or CCSS customers) under the Supply Agreement that are attributable to each
new customer added during the Plan Period (with such costs to be matched against the Revenue included in the Net Contribution Margin that is generated from such costs). 

 

	 	iv.	The costs of the Technical and Engineering Services sold to CCS or CCSS (or CCS or CCSS customers) under the Supply Agreement that are attributable to the Plan Period
(with such costs to be matched against the Revenue included in the Net Contribution Margin that is generated from such costs). 

  

	 	v.	All management and administrative costs (not otherwise included above) for Refined Coal Activities, including without limitation (i) sales and marketing expenses;
(ii) legal and accounting expenses; and (iii) travel expenses. 

  

	 	vi.	 Other expenses incurred by the Company that are similar (and consistent) with those described in paragraphs iii – -v in this Paragraph above, that
are 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
 3 

	 	
attributable to any Refined Coal Activities that generate Revenue to be included in the Plan, such that whenever Revenue is to be included in the Plan, all corresponding expenses incurred by the
Company to generate such Revenue shall be included in Expenses for purposes of calculating the Net Contribution Margin based on such Revenue. 

 Other Terms Applicable to the Determination of Revenues, Expenses, Net Contribution Margin and the Incentive Pool: 
 In no event will the purchase or lease by the Company (or an affiliate of the Company) or by CCS or an affiliate of CCS, of a Refined Coal facility from CCS for purposes of the operation of the facility
by the Company or CCS or an affiliate of either, be deemed a Refined Coal Activity for purposes of generating Revenue to be included in the Plan, unless such transaction has been approved in advance as a Refined Coal Activity by the Administrator.

 A Sale Transaction shall not include a sale of equity or other interests of the Company or the sale of all or substantially
all of assets of the Company that includes as a part thereof the sale of the Company’s interest in CCS or any other entity through which a Refined Coal Activity is being carried out, and no Attributable Revenue shall be included in Revenue as a
result of any such transaction. 
 The Net Contribution Margin and Incentive Pool will be determined on a fiscal year basis
using the internal accounting reports of ADA-ES (as reflected on the financial statements filed by the Company with the Securities and Exchange Commission), which are generally completed during the first fiscal quarter of the following year.

 The Incentive Pool amounts that relate to Dr. Durham and Other Participants will include only the first three full
years of revenue generated by any Refined Coal Activities customer. No amounts received from a Refined Coal Activities customer after such customer has been a customer for more than three full years shall be included in Revenues included in the Net
Contribution Margin or the Incentive Pool. 
 At any time when there is a mixture of Revenues coming from new customers and
customers that are beyond the three year period for Revenues includible in the Net Contribution Margin, then all expenses that cannot be attributed directly to the eligible customers will be allocated pro-rata according to the revenue dollars
generated by the customers for which amounts are included in the Incentive Pool as compared to total revenues generated by Refined Coal Activities. 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
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 Revenue and Expenses shall not include amounts included in the net profit of the Company
generated by a consolidated subsidiary by reason of the consolidation of such subsidiary’s financial results with those of the Company. The manner in which the Net Contribution Margin shall be calculated to ensure that no Revenue or Expense
amounts are included more than once in calculating such Net Contribution Margin. 
  

	 	g.	“Person,” as the context requires, means a natural person, corporation, partnership, trust or other entity. 

 

	 	h.	“Plan” means this Amended and Restated Refined Coal Activities Supplemental Compensation Plan, as amended from time to time. 

 

	 	i.	“Plan Period” means the period beginning on January 1, 2006 and ending on December 31, 2013. 

 

	 	j.	“Plan Year” means the fiscal year (or portion of a fiscal year) of the Company for which Net Contribution Margin is calculated and the Incentive Pool
determined for that period. 

  

	 	k.	“Refined Coal” has the meaning set forth in the definition of Refined Coal Activities herein. 

 

	 	l.	Refined Coal Activities” means activities of the Company directed to the research, development, marketing and sale of “Refined Coal” (which
shall mean coal that is treated or altered in a manner necessary to reduce the levels of hazardous pollutants released on burning of such coal, which are presently being carried out through CCS. For purposes of the Plan, Refined Coal Activities
shall not include any activities under that certain Development and License Agreement between the Company and Arch Coal Inc. dated June 25, 2010, as may be amended from time to time, pursuant to which the Company has licensed certain technology
relating to the treatment of coal. Any activity to be included as a “Refined Coal Activity” under the Plan (other than activities between the Company and CCS as described herein), shall be included in the Plan only if and when designated
specifically as such by the Administrator in writing. 

  

	 	m.	“Sale Transaction” shall have the meaning set forth in paragraph (v) of the definition of Revenue herein. 

  
 ADA Amended and Restated
Refined Coal Activities Supplemental Compensation Plan 
 5Amendment No.1 to Intellectual Property License Agreement

 Exhibit 10.52 
 EXECUTION VERSION 
 AMENDMENT NO. 1 TO INTELLECTUAL PROPERTY
LICENSE AGREEMENT 
 THIS AMENDMENT NO. 1 TO INTELLECTUAL PROPERTY LICENSE AGREEMENT (this “Amendment”),
entered into this 28th day of November, 2011, is made by and between the undersigned and amends that certain Intellectual Property License Agreement, dated as of October 1, 2008 (the “License Agreement”), by and between ADA-ES,
Inc. and ADA Carbon Solutions, LLC (f/k/a Crowfoot Development Company, LLC) (individually, a “Party,” and, collectively, the “Parties”). Capitalized terms used and not otherwise defined in this Amendment will have
the meanings set forth in the License Agreement, including as incorporated by reference therein. 
 RECITALS

 WHEREAS, the Parties have heretofore entered into the License Agreement and desire to amend the License Agreement in
accordance with Section 7.3 thereof as more fully set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 
 1.
Amendments. The License Agreement is hereby amended as follows: 
 (a) Section 1.1 of the License
Agreement is hereby amended by adding the following definitions such that the new definitions are incorporated in alphabetical order: 
 “Expanded Field” means the manufacture, production or formulation of (i) activated carbon or (ii) any activated carbon/additive mixture, in the case of (i) and (ii), for
any market other than the Field. 
 “New Expanded Field IP” means the Intellectual Property of Licensor and its
Affiliates other than Excluded Affiliates acquired or developed during the Future Licensing Period that (i) could have been used, (ii) was used or (iii) based on any future change in circumstance (such as a technological improvement),
could have been used if such change in circumstance was in existence during the Future Licensing Period, in the case of (i), (ii) and (iii), in the Expanded Field. For the avoidance of doubt, the New Expanded Field IP expressly excludes any
technology of Licensor for treating coal with additives prior to or in a combustion chamber for the purpose of reducing mercury emissions or other pollutant emissions from the combustion of the coal. 

(b) Section 1.1 of the License Agreement is hereby amended by amending and restating the following definitions to read in
their entirety as follows: 
 “Excluded Affiliates” means any Affiliate that is (i) a natural person,
(ii) an upstream Affiliate of Licensor that holds directly or indirectly less than Fifty 

 
Percent, or (iii) a downstream Affiliate of Licensor of which Licensor holds directly or indirectly less than Fifty Percent, including Clean Coal Solutions, LLC and its subsidiaries.
“Fifty Percent” means 50% of the total number of outstanding common or other equity interests (however denominated) of such Person, 50% of the total voting power of all outstanding equity interests of such Person which are entitled to vote
in the election of directors, managers or other persons performing similar functions for and on behalf of such Person, 50% of the dividends paid and other distributions made by such Person prior to liquidation or 50% of the assets of such Person or
proceeds from the sale thereof upon liquidation. 
 “Future Licensing Period” means the period commencing after
the Closing and ending on November 28, 2011. 
 “Licensed Intellectual Property” means (i) the
Intellectual Property of Licensor and its Affiliates as of the Closing used or held for use in connection with the Business or otherwise relating to the ADA-ES Contributed Assets and/or the Underlying Assets, including (x) the Intellectual
Property listed on Schedule A attached hereto, and (y) After-Filed Patents, (ii) the New IP and (iii) the New Expanded Field IP; provided, however, that “Licensed Intellectual Property” shall not include
any (A) Transferred Intellectual Property, or (B) any Trademarks. 
 None of the definitions in paragraphs (a) or
(b) of this Amendment shall be relied upon by any Party to this Amendment or the License Agreement to construe or otherwise interpret any other definition in the License Agreement. 

(c) Section 2.1 of the License Agreement is hereby amended and restated in its entirety to read as follows: 

Effective as of the Closing, on the terms and conditions set forth herein, Licensor hereby grants to Licensee and its
Affiliates a perpetual, worldwide, royalty-free, fully paid up, exclusive license to use the Licensed Intellectual Property (other than the New IP and the New Expanded Field IP) in the Field. Effective as of the Closing, on the terms and conditions
set forth herein, Licensor hereby grants to Licensee and its Affiliates a perpetual, worldwide, royalty-free, fully paid up, non-exclusive license to use the Licensed Intellectual Property (other than the New IP and the New Expanded Field IP) in the
Expanded Field. Effective as of the date of acquisition or development of any New IP, on the terms and conditions set forth herein, Licensor hereby grants to Licensee and its Affiliates a perpetual, worldwide, royalty-free, fully paid up, exclusive
license to use such New IP in connection with the Field. Effective as of the date of acquisition or development of any New IP or New Expanded Field IP, on the terms and conditions set forth herein, Licensor hereby grants to Licensee and its
Affiliates a perpetual, worldwide, royalty-free, fully paid up, non-exclusive license to use such New IP and New Expanded Field IP in connection with the Field and the Expanded Field. The foregoing licenses include the right (a) to make, have
made, use, import, export, distribute, offer to sell and sell products 

  
 2 

 
under the Licensed Intellectual Property, and (b) to publish, display, reproduce, copy, modify, improve, create derivative works of, enhance, and otherwise exploit such Licensed Intellectual
Property. Licensee and its Affiliates may sublicense the Licensed Intellectual Property (x) to any Person owning a Project (each, a “Project Company”) and (y) solely as is reasonably necessary in connection with
(A) the receipt of goods and services by, or (B) the use of activated carbon sold or otherwise transferred by, Licensee, any of its Affiliates and/or any Project Company, but are not otherwise sublicensable. Licensor shall promptly advise
Licensee in writing of any acquisition or development of any New IP. For the avoidance of doubt, nothing in this Agreement shall prohibit Licensor from using the Licensed Intellectual Property for applications or other uses that are outside the
Field. 
 (d) Section 2.2 of the License Agreement is hereby amended by deleting the last sentence of such section
and replacing it with the following: 
 Licensee shall have the right to commence, on or prior to
November 28, 2012, upon reasonable notice to Licensor and during normal business hours, a confidential audit and inspection of the books and records of Licensor and its Affiliates (other than Excluded Affiliates) (and to make confidential
copies thereof) relating to the acquisition and development of New IP, Additional IP and New Expanded Field IP, and, in connection therewith, shall be provided on a confidential basis (at Licensee’s option, either in electronic (to the extent
available) or hard copy) (i) copies of all documentation that is in Licensor’s or any of its Affiliate’s (other than Excluded Affiliates) possession or control and constitutes such Licensed Intellectual Property and/or is reasonably
necessary for the use of such Licensed Intellectual Property and (ii) tangible embodiments of such Licensed Intellectual Property (including copies of all Software included in such Licensed Intellectual Property) that is in Licensor’s or
any of its Affiliate’s (other than Excluded Affiliates) possession or control; provided, however, that if any Member of Licensee is a Competitor, no such right of audit shall apply. For the avoidance of doubt, any confidential
information provided to Licensee pursuant to this Section 2.2 shall be subject to Article V and may be provided to Licensee’s Affiliates, directors, officers, employees, agents, auditors, consultants, financial advisors,
financing sources (whether actual or potential) and permitted sublicensees, in each case, subject to Article V. 

(e) Section 2.3(a) of the License Agreement is hereby amended by deleting the words “last sentence” from the last
sentence of such subsection and adding the following sentence to the end of such subsection: 
 For the
avoidance of doubt, any confidential information provided to Licensee pursuant to this Section 2.3(a) shall be subject to Article V and may be provided to Licensee’s Affiliates, directors, officers, employees, agents,
auditors, consultants, financial advisors, financing sources (whether actual or potential) and permitted sublicensees, in each case, subject to Article V. 

  
 3 

 (f) Section 2.3 of the License Agreement is hereby amended by adding the
following subsection (d): 
 (d) The Parties agree that, notwithstanding anything to the contrary in this
Section 2.3, any license to use Additional IP entered into between the Parties pursuant to this Section 2.3 will provide that the Licensee and its Affiliates may sublicense the Licensed Intellectual Property (x) to any
Project Company and (y) solely as reasonably necessary in connection with (A) the receipt of goods and services by, or (B) the use of activated carbon sold or otherwise transferred by, Licensee, any of its Affiliates and/or any
Project Company, but is not otherwise sublicensable. 
 (g) A new Section 2.4 of the License Agreement is hereby
added as follows: 
 Section 2.4 No Alteration of Rights. The license granted with respect to the New Expanded Field IP
pursuant to Section 2.1 in no way expands, limits or otherwise alters the rights and obligations of the Parties pursuant to Section 2.3. 
 (h) Section 6.1 of the License Agreement is hereby amended by deleting the heading and the first sentence of such section and replacing it with the following: 

Section 6.1 Warranties and Excluded Warranties. LICENSOR WARRANTS THAT: (A) IT HAS THE RIGHT TO GRANT THE LICENSES AND RIGHTS
GRANTED HEREIN AND TO ENTER INTO THIS AGREEMENT; (B) THAT DURING THE FUTURE LICENSING PERIOD IT HAS NOT SOLD, ASSIGNED OR TRANSFERRED ANY LICENSED INTELLECTUAL PROPERTY TO AN EXCLUDED AFFILIATE OTHER THAN LICENSEE; AND (C) ITS ONLY
DOWNSTREAM EXCLUDED AFFILIATES DURING THE FUTURE LICENSING PERIOD ARE CLEAN COAL SOLUTIONS, LLC, CLEAN COAL SOLUTIONS SERVICES, LLC, LICENSEE AND EACH OF THEIR RESPECTIVE DIRECT AND INDIRECT SUBSIDIARIES. 

The remainder of Section 6.1 is unchanged. 
 (i) Section 7.13 of the License Agreement is hereby amended and restated in its entirety to read as follows: 
 Section 7.13 Binding on Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the Parties and Licensee’s Affiliates and permitted sublicensees, and their
respective successors and permitted assigns including, without limitation, an Excluded Affiliate if, and to the extent, it succeeds to Licensor’s ownership rights in or to use any Licensed Intellectual Property; . 

(j) The address of Licensee in Section 7.1 of the License Agreement is hereby amended and restated in its entirety to read as
follows: 

  
 4 

 ADA Carbon Solutions, LLC 

8100 SouthPark Way 
 Unit A-2 
 Littleton, Colorado 80120 

Facsimile No.: (303) 734-0330 
 Attention: General Counsel 
 and concurrently to: 

ADA Carbon Solutions, LLC 
 c/o Energy Capital Partners, LLC 
 51 John F. Kennedy Parkway 

Suite 200 
 Short
Hills, New Jersey 07078 
 Facsimile No.: (973) 671-6101 

Attn: Tyler Reeder, Vice President 
 CC: General Counsel 
 with a copy (which shall not constitute notice to Licensee),
to: 
 Fox Rothschild LLP 
 997 Lenox Drive 
 Building 3 

Lawrenceville, New Jersey 08543-5231 
 Facsimile No.: (609) 896-1469 
 Attn: Jonathan R. Lagarenne 

with a copy (which shall not constitute notice to Licensee), to: 

Latham & Watkins LLP 
 885 Third Avenue 
 New York, New York 10022-4834 

Facsimile No.: (212) 751-4864 
 Attn: David B. Rogers & David A. Kurzweil 
 (k) Article VII of the
License Agreement is hereby amended by adding the following Section 7.14: 
 Section 7.14 Licensed
Rights. The Parties acknowledge and agree that any and all rights licensed pursuant to this Agreement shall be deemed to be a license of rights to “intellectual property” as defined under §101 of the U.S. Bankruptcy Code and, in
connection therewith, §365(n) of the U.S. Bankruptcy Code shall be implicated by any rejection or proposed rejection of this Agreement in any bankruptcy proceeding. 
 2. Effectiveness of this Amendment. This Amendment is effective immediately; provided, however, that if that certain Settlement Agreement executed substantially concurrently

  
 5 

 
with this Amendment by and among certain parties to American Arbitration Association arbitration Case No. 30-192-Y-00718-09 is rendered null and void ab initio pursuant to Section
9(a) thereof, this Amendment shall be null and void ab initio, no Party shall have any rights or obligations hereunder and the License Agreement shall be deemed to have never been amended and shall remain in full force and effect. 

3. Miscellaneous. 
 (a) Except as specifically amended by this Amendment, the terms and conditions of the License Agreement shall remain in full force and effect. 

(b) This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware applicable to a
contract executed and performed in such State, without giving effect to conflicts of laws principles (whether of the State of Delaware or otherwise) that would result in the application of the laws of any other state. 

(c) This Amendment may be executed in any number of counterparts, any of which may be delivered via facsimile or PDF, each of
which when so executed and delivered shall be deemed an original, and such counterparts together shall constitute one instrument. 
 (d) Each Party hereto agrees to execute and deliver, or cause to be executed and delivered, such further instruments or documents or take such other actions as may be reasonably necessary to
consummate the transactions contemplated by this Amendment. 
 [Signature Page Follows] 

  
 6 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment, effective as of the date
first written above. 
  

			
	ADA-ES, INC.
		
	By:	 	/s/ C. Jean Bustard
	 Name: C. Jean Bustard

	 Title: Chief Operating Officer

  

			
	ADA CARBON SOLUTIONS. LLC
		
	By:	 	 
	 Name: Peter O. Hansen

	 Title: General Counsel

 [SIGNATURE PAGE TO AMENDMENT NO. 1 TO INTELLECTUAL PROPERTY LICNESE AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment, effective as of the date
first written above. 
  

			
	ADA-ES, INC.
		
	By:	 	 
	Name:
	Title:

  

			
	ADA CARBON SOLUTIONS, LLC
		
	By:	 	/s/ Peter O. Hansen
	Name: Peter O. Hansen
	Title: General Counsel

 [SIGNATURE PAGE TO AMENDMENT NO. 1 TO INTELLECTUAL PROPERTY LICNESE AGREEMENT]

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