Document:

Document

Exhibit (10.35)

Amendment to 
Standard & Poor’s Employee Retirement Plan Supplement  

The Standard and Poor’s Employee Retirement Plan Supplement (the “S&P Supplemental Plan”), amended and restated effective as of January 1, 2008, unless otherwise provided, is amended as provided below. 

1.Effective January 1, 2021, Section 5.03(a)(i) of the S&P Supplemental Plan is amended by deleting it in its entirety and replacing it with the following:

(i)   The Benefits shall be paid in the form of (A) a single-life annuity or (B) an actuarially equivalent life annuity elected by the Participant in the election form provided to the Participant, subject to and in accordance with the procedures prescribed by the Plan Administrator from time to time; provided, that such election form is received by the Plan Administrator no later than thirty (30) days prior to the date on which the payment of Benefits commences in accordance with Section 5.03(a)(ii) (the “Election Deadline”), and, for the avoidance of doubt as of January 1, 2012, if no executed and completed election form is received by the Plan Administrator by the Election deadline, then the Participant is deemed to have elected the Benefits to be paid in a single-life annuity if the Participant is not married at the time of the Election Deadline and to be paid in a 50% joint and survivor annuity if the Participant is married as of the Election Deadline. 

*               *               *

Except as set forth herein, the S&P Supplemental Plan remains in full force and effect.Exhibit 10.5

    

    
      

      

      ENGLISH SUMMARY OF THE TERMS OF A LEASE AGREEMENT

      CONCERNING UNITS AT PATRAS SCIENCE PARK (Επιστημονικό Πάρκο Πατρών)

    

    
      

      

      between:                             Patras Science Park S.A. (Επιστημονικό Πάρκο Πατρών Α.Ε.)

    

    
      Stadiou Street, Platani Rio 26504, Patra, Greece

    

    
      (the “Lessor”)

       

      

      

    

    
      and:                                   Advanced Energy Technologies Α.Ε. (distinctive title “Advent Technologies A.E.”)

    

    
      44 Kifisias Avenue, Marousi – Attica 15125, Greece

    

    
      (the “Lessee”)

       

      

      

    

    
      Date of the agreement: As of September 02, 2019 (the “Original Lease Agreement”), as amended in writing on November 27, 2019 (the “Amendment”) (collectively, the “Lease Agreement”).

       

      Address of the Premises

       

      The address of the property is: 1.02, 1.04 and 1.09, Floor A, Building A, Patras Science Park, Stadiou Street, Platani Rio 26504, Patra, Greece (the “Premises”)

       

      Leased area in square meters (gross): 219.20 sq. m. (c. 2,359 sq.
          ft.) in aggregate, being comprised of the following units:            

       

      

      

    

    	
            1.02, Floor A:

          	
            119.60 sq. m. (c. 1,287 sq. ft.)

          
	
            1.04, Floor A:

          	
            46.90 sq. m. (c. 505 sq. ft.)

          
	
            1.09, Floor A:

          	
            52.70 sq. m. (c. 567 sq. ft.)

          

    
      The Lessor has the right to request unilaterally that the Lessee transfers its installed unit to another area of equal size and managed by the Patras Science Park to serve the park’s greater needs,
        and the Lessee must comply immediately.

       

      Term of the Lease and Renewal Rights

       

      Lease term:

       

      From September 01, 2019 to December 31, 2028 (pursuant to the Amendment).

       

      Renewal:

       

      The Lessee can request an extension of the Lease term by notifying the Lessor in writing at least three (3) months prior to expiry of the Lease term. The Lessor shall examine the request and respond
        within twenty (20) calendar days.

       

      No tacit renewal or extension shall be possible and, following expiry of the term, the Lessor shall have an absolute right to evict the Lessee. Any renewal or extension of the Lease must be and can
        only be evidenced in writing.

       

      Rent

       

      Monthly rent:

       

      The Lessee shall pay the Lessor within ten (10) days of the beginning of each month, a monthly rent of EUR 1,205.60 (EUR 5.5 per sq. m.) plus stamp duty of 3.6%.

       

      In case of extension of the Lease term (as set out in the Original Lease Agreement), the monthly rent will be adjusted as follows:

       

      

      

    

    	
            (a)

          	
            EUR 5.5 per sq. m. for the first to the fifth year;

          
	 	  
	
            (b)

          	
            EUR 7.5 per sq. m. for the sixth to the tenth year; and

          
	 	  
	
            (c)

          	
            EUR 10 per sq. m. thereafter.

          

    
      

      

      
        - 2 -

        
          

      

      
      Retention of percentage of approved funding:

       

      A percentage of 0.5% of all approved funding to the Lessee, only for projects submitted by the Lessee’s installed unit as a member of the Patras Science Park, shall be retained by the Lessor.

       

      Communal and other expenses:

       

      In addition to monthly rent, the Lessee must pay its proportion of communal expenses (cleaning costs, maintenance and operation of building, electricity consumption in public spaces, water, city taxes
        and fees etc.), and electricity, water, telephone and internet charges for the Premises (the method for allocation of such costs to the Premises to be notified by the Lessor and, amongst other things, be linked to the leased area of the Premises).

       

      Communal cleaning costs payable by the Lessee shall be in an amount equal to EUR 219.20 per month (EUR 1 per sq. m.) (plus VAT) and can be adjusted annually by decision of the board of director by up
        to 3%.

       

      The communal expenses are payable within ten (10) calendar days of service by the Lessor of a relevant tax document.

       

    

    
      Permitted Use

       

    

    
      

      The Lease was granted to the Lessee to carry out its professional activities, as set out and approved in the Lessee’s admission application and in line with the objectives of the Patras Science Park.
        Any change to the Lease’s agreed use is expressly forbidden and any violation shall constitute a material breach of the Lease.

       

       

      Maintenance of the Premises / Other Obligations

         

      The Lessee shall be responsible for the maintenance of the Premises and shall pay for any defects or damages caused to the Premises.

       

      The Lessee is, inter alia, responsible to keep the Premises clean and to use the Premises in such a way so as not to cause any damage or nuisance to other
        occupants and shall be responsible to recompense such occupants for any loss.

       

      Further, the Lessee must make good and diligent use of the Premises and shall be responsible for any loss or damage causes to the Premises by itself, its staff or visitors. If the Lessee delays
        unreasonably in the repair and restoration of such damages and losses, the Lessor, at the cost of the Lessee, can proceed with such repairs.

       

       

      The Lease Agreement also includes various other administrative obligations on the Lessee (including regarding health and safety, fire protection and access control).

       

      Alienation

         

      The assignment or subletting/underletting of all or part of the Premises or otherwise sharing occupation of the Premises with any third party is strictly prohibited.

       

       

      Vacating of the Premises

       

    

    
      The Lessee shall vacate the Premises upon expiry of the Lease term and deliver vacant possession to the Lessor. In case of refusal, the Lessee shall pay the Lessor a fixed and pre-determined penalty
        amount of EUR 150.00 for each day of the delay.

       

      
        - 3 -

        
          

      

    

    
      

      Termination of the Lease Agreement

       

    

    If the Lessee does not comply with the terms of the Lease Agreement agreed as being “of essence” or defaults in the timely payment of monthly rent or communal expenses, the Lessor shall notify the
      Lessee and, if such breach is not remedied within five days of notice, the Lessor shall be entitled to terminate the Lease Agreement and to apply to court for the eviction of the Lessee and the payment of all outstanding amounts and other
      compensation or damages.

     

    Waiver of statutory protections

     

    The Lessee unconditionally and irrevocably waives all general protection and rights granted to tenants by statute (including, but not limited to, any right to remain in the Premises or extend the Lease
      beyond the contractual period).

     

    
      

      Taxes

       

      The Lessee is responsible for stamp duty plus OGA (ΟΓΑ) payable on the Lease, together with all other taxes and government fees (including any future taxes or
        fees levied on the use of the Lease), other than municipal real estate duty (ΤΑΠ) and any other ownership levy or tax.

       

      Amendments to the Lease Agreement

       

      Any amendment to the Lease Agreement must be in writing.

       

      Governing Law and Jurisdiction

       

      The Lease is governed by Greek law.

       

      The Courts of Patras have exclusive jurisdiction.

       

      
        

    

  

  
    

  - 4 -Exhibit 10.6

        

        

      

      
        ENGLISH SUMMARY OF THE TERMS OF A LEASE AGREEMENT

        CONCERNING UNITS AT PATRAS SCIENCE PARK (Επιστημονικό Πάρκο Πατρών)

      

      
        

        

        between:                             Patras Science Park S.A. (Επιστημονικό Πάρκο Πατρών Α.Ε.)

      

      
        Stadiou Street, Platani Rio 26504, Patra, Greece

      

      
        (the “Lessor”)

        

        

      

      
        and:                                   Advanced Energy Technologies Α.Ε. (distinctive title “Advent Technologies A.E.”)

      

      
        44 Kifisias Avenue, Marousi – Attica 15125, Greece

      

      
        (the “Lessee”)

        

        

      

      
        Date of the agreement: As of September 25, 2019 (the “Original Lease Agreement”), as amended in writing on January 07, 2020 (the “Amendment”) (collectively, the “Lease Agreement”).

        

        

        Address of the Premises

        

        

        The address of the property is: Floor A (1.01), Building A, Patras Science Park, Stadiou Street, Platani Rio 26504, Patra, Greece (the “Premises”)

        

        

        Leased area in square meters: 99.40 sq. m.

        

        

        The Lessor has the right to request unilaterally that the Lessee transfers its installed unit to another area of equal size and managed by the Patras Science Park to serve the park’s greater needs, and the Lessee
          must comply immediately.

        

        

        Term of the Lease and Renewal Rights

        

        

        Lease term:

        

        

        From October 01, 2020 to December 31, 2028 (pursuant to the Amendment).

        

        

        Renewal:

        

        

        The Lessee can request an extension of the Lease term by notifying the Lessor in writing at least three (3) months prior to expiry of the Lease term. The Lessor shall examine the request and respond within twenty
          (20) calendar days.

        

        

        No tacit renewal or extension shall be possible and, following expiry of the term, the Lessor shall have an absolute right to evict the Lessee. Any renewal or extension of the Lease must be and can only be
          evidenced in writing.

        

        

        Rent

        

        

        Monthly rent:

        

        

        The Lessee shall pay the Lessor within ten (10) days of the beginning of each month, a monthly rent of EUR 546.70 (EUR 5.5 per sq. m.) plus stamp duty of 3.6%.

        

        

        In case of extension of the Lease term (as set out in the Original Lease Agreement), the monthly rent will be adjusted as follows:

        

        

      

      
        	

              	(a)	
                EUR 5.5 per sq. m. for the first to the fifth year;

              

      

      
        

        

      

      
        	

              	(b)	
                EUR 7.5 per sq. m. for the sixth to the tenth year; and

              

      

      

      

      
        	

              	(c)	
                EUR 10 per sq. m. thereafter.

              

      

      
        
          

      

      
      
        Retention of percentage of approved funding:

        

        

        A percentage of 0.5% of all approved funding to the Lessee, only for projects submitted by the Lessee’s installed unit as a member of the Patras Science Park, shall be retained by the Lessor.

        

        

        Communal and other expenses:

        

        

        In addition to monthly rent, the Lessee must pay its proportion of communal expenses (cleaning costs, maintenance and operation of building, electricity consumption in public spaces, water, city taxes and fees
          etc.), and electricity, water, telephone and internet charges for the Premises (the method for allocation of such costs to the Premises to be notified by the Lessor and, amongst other things, be linked to the leased area of the Premises).

        

        

        Communal cleaning costs payable by the Lessee shall be in an amount equal to EUR 99.40 per month (EUR 1 per sq. m.) (plus VAT) and can be adjusted annually by decision of the board of director by up to 3%.

        

        

        The communal expenses are payable within ten (10) calendar days of service by the Lessor of a relevant tax document.

        

        

      

      
        Permitted Use

        

        

      

      
        The Lease was granted to the Lessee to carry out its professional activities, as set out and approved in the Lessee’s admission application and in line with the objectives of the Patras Science Park. Any change to
          the Lease’s agreed use is expressly forbidden and any violation shall constitute a material breach of the Lease.

        

        

        Maintenance of the Premises / Other Obligations

        

        

        The Lessee shall be responsible for the maintenance of the Premises and shall pay for any defects or damages caused to the Premises.

        

        

        The Lessee is, inter alia, responsible to keep the Premises clean and to use the Premises in such a way so as not to cause any damage or nuisance to other occupants and
          shall be responsible to recompense such occupants for any loss.

        

        

        Further, the Lessee must make good and diligent use of the Premises and shall be responsible for any loss or damage causes to the Premises by itself, its staff or visitors. If the Lessee delays unreasonably in the
          repair and restoration of such damages and losses, the Lessor, at the cost of the Lessee, can proceed with such repairs.

        

        

        The Lease Agreement also includes various other administrative obligations on the Lessee (including regarding health and safety, fire protection and access control).

        

        

        Alienation

        

        

        The assignment or subletting/underletting of all or part of the Premises or otherwise sharing occupation of the Premises with any third party is strictly prohibited.

        

        

        Vacating of the Premises

        

        

        The Lessee shall vacate the Premises upon expiry of the Lease term and deliver vacant possession to the Lessor. In case of refusal, the Lessee shall pay the Lessor a fixed and pre-determined penalty amount of EUR
          150.00 for each day of the delay.

        

        

        Termination of the Lease Agreement

        

        

      

      If the Lessee does not comply with the terms of the Lease Agreement agreed as being “of essence” or defaults in the timely payment of monthly rent or communal expenses, the Lessor shall notify the Lessee and, if such
        breach is not remedied within five days of notice, the Lessor shall be entitled to terminate the Lease Agreement and to apply to court for the eviction of the Lessee and the payment of all outstanding amounts and other compensation or damages.

      
        - 2 -

        
          

      

      
      Waiver of statutory protections

      

      

      The Lessee unconditionally and irrevocably waives all general protection and rights granted to tenants by statute (including, but not limited to, any right to remain in the Premises or extend the Lease beyond the
        contractual period).

      

      

      
        Taxes

        

        

        The Lessee is responsible for stamp duty plus OGA (ΟΓΑ) payable on the Lease, together with all other taxes and government fees (including any future taxes or fees levied on
          the use of the Lease), other than municipal real estate duty (ΤΑΠ) and any other ownership levy or tax.

        

        

        Amendments to the Lease Agreement

        

        

        Any amendment to the Lease Agreement must be in writing.

        

        

        Governing Law and Jurisdiction

        

        

        The Lease is governed by Greek law.

        

        

        The Courts of Patras have exclusive jurisdiction.

        

        

        

      

    

    
      
 

  

  - 3 -

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