Document:

Exhibit 10.25
Certain confidential information contained in this exhibit, marked by brackets, has been redacted in accordance with Regulation S-K Item 601(b) because the information (i) is not material and (ii) would be competitively harmful if disclosed.
MASTER LICENSING AGREEMENT
THIS MASTER LICENSING AGREEMENT dated this October 6, 2020 is made between:
SUNCOR ENERGY INC., a corporation existing under the laws of Canada and having its registered office at P.O. Box 2844, 150 6th Avenue S.W., Calgary, Alberta T2P 3E3 (hereinafter referred to as “Suncor”); and
LANZATECH, INC., a company duly incorporated in the United States of America and having its registered office at Corporation Trust Centre, 1209 Orange Street, Wilmington 19801, Delaware, USA (hereinafter referred to as “LanzaTech”),
(collectively referred to as the “Parties” or individually as a “Party” as the context may require).
WHEREAS
	A.
	Suncor is engaged in the business of exploration and production of hydrocarbons.

	B.
	LanzaTech is a technology provider specializing in the development and commercialization of technologies for the production of low-carbon fuels and chemicals and has developed a proprietary gas fermentation platform for the production of alcohols and chemicals from industrial waste gases and synthesis gases that contain CO, H2 and CO2, or combinations thereof.

	C.
	[***].

	D.
	In consideration of Suncor’s support of such project, the payment of the licensing fees described herein, and other valuable consideration, LanzaTech is willing to license to Suncor certain proprietary technology, [***], for commercial exploitation by Suncor on the terms of this Agreement.

NOW THEREFORE, in consideration of the mutual benefits to be derived hereunder, the Parties agree as follows:
Article 1
Definitions and Interpretation
	1.1
	The following words and expressions shall have the following meanings:

		(a)
	“Additional Facilities” means commercial production facilities that practice the Licensed Subject Matter to perform a Process to produce a Product, and that are not Paid Up Facilities.

		(b)
	“Affiliate” means a company or corporation or other entity which directly or indirectly owns or controls, is controlled by, or is under common control with, a Party. For the purpose of this definition, “control” or “controlled” means the possession of either (i) at least fifty percent (50%) of the issued share capital of the

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Party where such Affiliate is a corporation or (ii) the right to at least fifty (50%) of the assets of the non-corporate entity upon dissolution.
		(c)
	“Aggregate Facility Production” means the aggregate Facility Production Amount of all commissioned Paid Up Facilities.

		(d)
	“Agreement” means this agreement, the Schedules and any appendices which are incorporated into this Agreement by reference, and any variation, amendment or supplement in writing as may be agreed by the Parties from time to time.

		(e)
	“Basic Engineering Services” means [***], to the extent the same may be required for the Licensed Facility encompassing any Licensed Subject Matter.

		(f)
	“Claim(s)” mean any one or more of: loss, damage, cost, expense, disbursement, penalty, fine, claim, demand, action, proceeding, interest, statutory obligation, liability, suit, judgment, award, decree, determination, adjudication, unpaid Tax of any kind (including withholding Tax), cost of investigation and any type of fee (including legal fees, on a solicitor-and-own-client basis).

		(g)
	“Commencement Date” means, with respect to a Licensed Facility, the date when Suncor or its Affiliate or its Sublicensee, as the case may be, first introduces Feedstock into the reactor system for a Licensed Facility with the intent of producing a Product.

		(h)
	“Commercial License” has the meaning ascribed thereto in Article 3.1.

		(i)
	“Co-Venturer” means, in connection with a Joint Venture that is unincorporated and without separate legal personality, an entity that has legal ownership of the assets of the Joint Venture.

		(j)
	“Effective Date” means the date of execution of this Agreement.

		(k)
	“Environmental Laws” means all applicable international, federal, provincial, territorial, municipal or local treaties, conventions, laws, statutes, regulations, orders, by-laws, governmental decrees or ordinances relating to fisheries, health and safety, the protection or preservation of the environment or the manufacture, processing, distribution, use, treatment, storage, disposal, discharge, transport or handling of hazardous substances.

		(l)
	“[***]” means [***].

		(m)
	“Ethanol Byproduct” means any product other than ethanol that is generated by means of the practice of the Licensed Subject Matter in a Licensed Facility in order to create ethanol.

		(n)
	“Event of Force Majeure” means any cause affecting the performance of this Agreement arising from or attributable to any acts, events, nonhappenings, omissions or accidents beyond the reasonable control of the Party to perform and

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in particular but without limiting the generality thereof, shall include, civil commotion, riot, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or pandemic caused by disease or infection, or other natural physical disaster, impossibility of the use of railways, shipping, aircraft, motor transport, or other means of public or private transport, or political interference with the normal operation of either Party.
		(o)
	“Excess Production” means the number of bbls/day of ethanol for which the Aggregate Facility Production is in excess of [***] during the relevant Quarterly Period.

		(p)
	“Expiration Date” means [***].

		(q)
	“Facility Production Amount” means the average production per day of ethanol of the relevant Paid Up Facility during the relevant Quarterly Period.

		(r)
	“Feedstock” means any type of feedstock, including but not limited to (i) industrial off-gases and (ii) forestry waste, agricultural waste, and municipal and industrial waste that will be pyrolyzed or gasified.

		(s)
	“Feedstock Gas Cost” means the cost to supply, procure, sort and aggregate the biomass feedstock for production of the relevant Product(s).

		(t)
	“Gross Negligence” means: (i) a marked and flagrant departure from the standard of conduct of a reasonable person acting in the circumstances at the time of the alleged misconduct, or (ii) such wanton and reckless conduct or omissions as constitutes in effect an utter disregard for harmful, foreseeable and avoidable consequences, and does not include any act or failure to act insofar as it: (i) constituted mere ordinary negligence or (ii) was done or omitted in accordance with the express instructions or approval of all Parties.

		(u)
	“Improvements” means Technical Information or Intellectual Property Rights that result or arise from the exercise of the Commercial License, that are based upon or incorporate Licensed Subject Matter or are used in the design, construction or debugging of those portions of a Licensed Facility that relate to gas fermentation, including any Process, that may be developed by or under the authority of Suncor, its Affiliate or its Sublicensee.

		(v)
	“Intellectual Property” means any or all of the following and rights in, arising out of, or associated therewith: (a) all Patent Rights and (b) all intellectual property rights in trade secrets and other Technical Information; but shall exclude all trade names, logos, common law trademarks and service marks, trademark and service mark registrations and applications therefore anywhere in the world.

		(w)
	“[***]” has the meaning ascribed thereto [***].

		(x)
	“Joint Venture” means an arrangement, including a partnership, limited partnership, corporation or other body corporate, limited liability company, trust or

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unincorporated joint venture established for the purpose of conducting activities related to operating one or more joint venture assets in which Suncor, or an Affiliate of Suncor, has at least a 25% ownership interest or acts as operator thereof.
		(y)
	“LanzaTech Indemnitees” means LanzaTech, its Affiliates and their respective Personnel.

		(z)
	“Licensed Facility” or “Licensed Facilities” means one or more of the Paid Up Facilities and/or Additional Facilities, as the context may require.

		(aa)
	“Licensed IP” means (i) any Intellectual Property owned or sublicensable by LanzaTech, from time to time, that is necessary or useful to the creation of Products through the practice of a Process and (ii) any Intellectual Property owned or sublicensable by LanzaTech, from time to time, necessary to design, construct, debug, operate and maintain any Licensed Facilities, including but not limited to the Patent Rights set out in Schedule C, subject to any conditions or restrictions under which LanzaTech has the right to grant licenses, immunities or licensing rights to such Intellectual Property.

		(bb)
	“Licensed Subject Matter” means, individually and collectively, the Licensed IP, the Licensed Technical Information, and any Improvements assigned or licensed to LanzaTech under Article 4.1 of this Agreement.

		(cc)
	“Licensed Technical Information” means (i) Technical Information owned or sublicensable by LanzaTech, from time to time, that is necessary or useful to the creation of Products through the practice of a Process, and (ii) any Technical Information owned or sublicensable by LanzaTech, from time to time, necessary to design, construct, debug, operate and maintain any Licensed Facilities, subject to any conditions or restrictions under which LanzaTech has the right to grant licenses, immunities or licensing rights to such Intellectual Property.

		(dd)
	“Net Revenue” means, with respect to any Licensed Facility for any whole Quarterly Period immediately prior to the date of calculation, under IFRS or GAAP standards, as applicable and generally applied by Suncor or the applicable Sublicensee, either:

		(i)
	[***], and/or

		(ii)
	[***].

		(ee)
	“Other Variable Costs” means the cost attributable to [***].

		(ff)
	“One-Time Paid-Out Royalty” means [***].

		(gg)
	“Patent Rights” means all patents and utility models and applications therefor and all national phase entries, reissues, divisionals, substitutions, reexaminations, renewals, extensions, provisionals, supplementary protection certificates,

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continuations and continuations-in-part thereof, and equivalent or similar registered rights anywhere in the world.
		(hh)
	“Paid Up Facilities” means up to four (4) commercial production facilities that practice the Licensed Subject Matter to perform a Process to produce a Product.

		(ii)
	“Person(s)” means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association or other entity.

		(jj)
	“Personnel” means the employees, agents and contractors of a Person.

		(kk)
	“Process” means any process existing or created during the Term of this Agreement that is a gas fermentation process that uses a microbe or other biological agent or any other process that converts Feedstock into a feed for such gas fermentation process, in each case that is made available commercially to customers by LanzaTech or its Affiliates or is otherwise ready for commercial deployment in LanzaTech’s sole discretion, and any other equipment, media, apparatus, and process control for carrying out such process.

		(ll)
	“Product” shall mean any fuel or chemical or other finished product produced in a Licensed Facility by means of a Process.

		(mm)
	“Quarterly Period” means each three-month period every calendar year commencing on January 1, April 1, July 1 and October 1 starting with the three-month period containing the Commencement Date for the first Licensed Facility.

		(nn)
	“Reduced Royalty” means, [***]

		(oo)
	“Reduced Royalty Rate” means [***].

		(pp)
	“Schedules” means the schedules of this Agreement.

		(qq)
	“Suncor Indemnitees” means Suncor, its Affiliates and their respective Personnel.

		(rr)
	“Sublicense” means a sublicense of the Commercial License permitted under this Agreement between Suncor and a Sublicensee.

		(ss)
	“Sublicensee” means a sublicensee under a permitted Sublicense.

		(tt)
	“Support Milestone” means [***].

		(uu)
	“Tax” or “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges, fees or withholdings imposed, levied, withheld or assessed by any governmental authority, together with any interest, additions to tax or penalties imposed thereon and with respect thereto.

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		(vv)
	“Technical Information” means any and all technology, information, materials, products and services, including without limitation, all trade secrets, know-how, techniques, inventions (whether or not patentable) algorithms, formulas, databases, works of authorship, processes, devices, prototypes, schematics, test methodologies, documentation, data, methods, manufacturing information and research materials; but shall exclude any Intellectual Property therein.

		(ww)
	“Term” has the meaning ascribed thereto in Article 2.1.

		(xx)
	“Variable Costs” means [***]

	1.2
	The following rules apply unless the context requires otherwise.

		(a)
	Headings are for convenience only and do not affect interpretation.

		(b)
	A reference to:

		(i)
	a singular word includes the plural, and vice versa;

		(ii)
	legislation (including subordinate legislation) is to that legislation as amended, re-enacted or replaced, and includes any subordinate legislation issued under it;

		(iii)
	a document or agreement, or a provision of a document or agreement, is to that document, agreement or provision as amended, supplemented, replaced or novated;

		(iv)
	a Party to this document or to any other document or agreement includes a permitted substitute or a permitted assign of that Party;

		(v)
	anything (including a right, obligation or concept) includes each part of it;

		(vi)
	a word which suggests one gender includes the other gender;

		(vii)
	“Article” refers to the specified article in this Agreement, unless expressly noted otherwise; and

		(viii)
	all Schedules are integral parts of this Agreement and are fully incorporated into this Agreement.

		(c)
	No provision of this Agreement will be construed adversely against a Party on the ground that such Party was responsible for the preparation of this Agreement or that provision.

		(d)
	If there is any inconsistency between the provisions of this Agreement, then the order of precedence will be in descending order of priority as follows:

		(i)
	terms and conditions of this Agreement; and

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		(ii)
	the Schedules.

		(e)
	Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.

Article 2
Term
	2.1
	This Agreement will commence upon the Effective Date and will continue in effect until the earlier of the date [***], or such earlier date on which this Agreement is terminated in accordance with its express terms (“Term”).

	2.2
	The Parties may extend the Term of this Agreement subject to mutual written agreement.

Article 3
License
	3.1
	License.

		(a)
	The Commercial License in Article 3.1(b) is conditional upon: (i) LanzaTech Basic Engineering Services for the applicable Licensed Facility having been either completed or fully paid for by Suncor prior to the Expiration Date in accordance with the terms for the provision of such Basic Engineering Services as set out in Articles 3; and (ii) performance of the Support Milestone, [***].

		(b)
	Subject to compliance with the conditions set out in Article 3.1(a), LanzaTech hereby grants to Suncor and each Affiliate of Suncor the following license (the “Commercial License”): A worldwide, non-exclusive, transferable (solely in accordance with Article 12.4), sublicensable (solely in accordance with Article 3.5) license to the Licensed Subject Matter in order to: (a) manufacture, use and sell any Product; and (b) design, construct, debug, operate and maintain any Licensed Facilities

	3.2
	License Fees and Royalties.

		(a)
	Initial Fee. In connection with execution of the JD Agreement, Suncor paid LanzaTech an initial license fee of [***] on April 8, 2020. In consideration for such initial license fee, Suncor shall not be required to pay any royalties to LanzaTech in connection with the Commercial License for the production of ethanol at a Paid Up Facility that is not Excess Production. Suncor acknowledges that [***].

		(b)
	Ethanol. Subject to Article 3.3(b), production of ethanol (i) at the Additional Facilities and (ii) that is Excess Production at Paid Up Facilities will bear a running royalty equal to [***]. Such running royalty shall also be consideration for [***].

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		(c)
	One-Time Paid Out Royalty Option for Ethanol. For any proposed Licensed Facility expected to bear running royalties under this Article 3.2(c), Suncor may alternatively elect, [***], to pay the One-Time Paid-Out Royalty [***].

		(d)
	Other Products. Subject to Article 3.3(b), production of any Product other than ethanol at any Licensed Facility will bear royalties [***].

		(e)
	Quarterly Statement. Following the end of each Quarterly Period but before the date [***] after the end of such Quarterly Period, Suncor shall calculate all royalties due under this Article 3.2 with respect to such Quarterly Period and provide LanzaTech with a statement of such calculation. Such calculation and the information used in such calculation shall be records to which Article 3.3(f) applies. Suncor shall pay all royalties calculated with respect to each Quarterly Period to LanzaTech within [***] after the end of such Quarterly Period or, in the case of a Licensed Facility operated by a Sublicensee, within [***] after the end of such Quarterly Period.

		(f)
	Records. Until [***] after the expiry or termination of this Agreement, Suncor will keep detailed and accurate records with respect to its and its Affiliates Licensed Facilities’ operations and ensure that each Sublicense contains a right for Suncor to obtain, and Suncor shall obtain, detailed and accurate records of its Sublicensees’ operations with respect to their Licensed Facilities, particularly all costs and records related to calculation of royalties, and tonnage of Product produced, used, sold or otherwise transferred at such Licensed Facility. At LanzaTech’s request, Suncor will furnish copies of such records to LanzaTech, including obtaining and furnishing copies of Sublicensees’ records to LanzaTech.

		(g)
	Inspection. Suncor shall keep the records referred to in Article 3.3(f) open to inspection and audit by LanzaTech (or its authorized representative), during normal business hours, and LanzaTech shall be entitled to take copies of or extracts from them. If such inspection or audit should reveal a discrepancy in the royalties paid from those payable under this Agreement, Suncor shall immediately make up the shortfall, plus interest on the amount of the shortfall at [***], and [***]. Such right of inspection of LanzaTech shall remain in effect for a period of [***] after the expiry or termination of this Agreement.

		(h)
	Certification. Within [***] of the end of each calendar year, Suncor shall submit to LanzaTech a written statement certified by Suncor’s auditors of the production tonnage and rates of Product produced by all Licensed Facilities in that year, incentives earned or credited in that year and the amount due to be paid for that year under this Article 3.3. If such statement shows that the amount paid by Suncor is less than the amount due, Suncor shall pay to LanzaTech within [***] of the submission of the statement an amount equivalent to [***].

		(i)
	Tax. Suncor shall pay [***] but otherwise LanzaTech shall be responsible for [***]. Notwithstanding the foregoing, [***]. LanzaTech shall not take any action that would render it ineligible under the applicable Canada-U.S. tax treaty for any

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applicable exemption from a requirement to withhold a Tax in connection with the payment of the royalties under this Agreement. As of the Effective Date, LanzaTech affirms that it is resident in the United States for United States federal income tax purposes, enjoys the benefits of being a “qualifying person” for the purposes of the Canada-U.S. tax treaty with respect to the royalties paid hereunder and is the beneficial owner of all royalties received by it under this Agreement. If LanzaTech ceases (i) to be a resident of the United States for federal income tax purposes (ii) to enjoy the benefits of being a “qualifying person” for the purposes of the Canada-U.S. tax treaty with respect to the royalties paid hereunder or (iii) to be the beneficial owner of royalties received by it under this Agreement, then [***]. LanzaTech’s invoice and other documents for payment by Suncor on which any Tax is chargeable shall separately indicate such Tax.
	3.3
	Most Favored Customer Pricing.

		(a)
	Physical supply of equipment and LanzaTech proprietary microbes and supply of Basic Engineering Services (together “LanzaTech Technology”) for any Licensed Facility, which the Parties agree [***], shall be made available for sale or license to Suncor, its Affiliates or its Sublicensees at the lowest price and on the most favored terms that LanzaTech and/or its Affiliates have offered, sold, or licensed such LanzaTech Technology, within the [***] preceding the date of purchase or license by Suncor, its Affiliate or its Sublicensee (or, if no reference terms are available within such [***] period, then [***].

		(b)
	If LanzaTech licenses all or part of the Licensed Subject Matter to an unrelated third party under similar conditions to any Licensed Facility or Licensed Facilities, and royalties paid per unit of a Product by such unrelated third party in consideration of such license are less than the royalties paid by Suncor per unit of the same Product in consideration of the Commercial License, then LanzaTech will agree at Suncor’s written request to [***].

	3.4
	Engineering Services. The fees charged for Basic Engineering Services by LanzaTech in connection with a Licensed Facility will be [***].

	3.5
	Sublicensing.

		(a)
	Suncor shall have the right to grant a non-sublicensable sublicense under the Commercial License to the Joint Ventures and Co-Venturers (in connection with the applicable Joint Ventures only) of Suncor and its Affiliates. Such sublicense shall be non-transferable except in accordance with Article 3.5(d) of this Agreement.

		(b)
	Suncor must ensure that such Sublicensee complies with the terms of this Agreement and Suncor is responsible for any breach of the terms of this Agreement by any of its Sublicensees as if the obligations of Suncor under this Agreement are obligations on such Sublicensees.

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		(c)
	Prior to Sublicense execution, Suncor shall provide LanzaTech a certification that the Sublicense complies with the terms and conditions of this Agreement, including through the inclusion between Suncor and Sublicensee of the provisions of the Articles of this Agreement set out in Schedule B.

		(d)
	If this Agreement is terminated for any reason, Suncor shall immediately assign and does hereby assign all of its right, title and interest to all Sublicenses to LanzaTech, including the right to receive income thereunder. If the Commercial License is terminated under this Agreement with respect to any Licensed Facility or Licensed Facilities operated by a Sublicensee, Suncor shall immediately assign and hereby does assign all of its right, title and interest to the Sublicense or Sublicenses to LanzaTech, including the right to receive income thereunder, in respect of such Licensed Facility or Licensed Facilities.

		(e)
	Suncor will collect all payments which are due to LanzaTech as a result of Suncor sublicensing its rights under the provisions of this Agreement.

	3.6
	No Other Grant of Rights. Except as expressly provided herein, nothing in this Agreement will be construed to confer any ownership interest, license or other rights upon Suncor by implication, estoppel or otherwise as to any technology, intellectual property rights or products of LanzaTech, or any other entity.

Article 4
Grant-Back; Ownership of Intellectual Property
	4.1
	Suncor will assign and does hereby assign to LanzaTech all of Suncor’s right, title, and interest in and to all Improvements. Suncor will cause any Affiliate or Sublicensee exercising the Commercial License to assign to LanzaTech all of their right, title and interest in and to all Improvements. If, according to applicable laws or applicable contractual rights held by an unrelated third party that are existing and in effect prior to the Effective Date, any Improvements cannot be assigned to LanzaTech, Suncor will grant and hereby does grant, or if necessary will make commercially reasonable efforts to cause the granting, to LanzaTech or its nominated Affiliate a perpetual, irrevocable, fully paid, exclusive license for use throughout the world, with the right to sublicense, with respect to such non-assignable rights for all applications and purposes.

	4.2
	LanzaTech warrants that, on the Effective Date, the assignment of Improvements required by LanzaTech under Section 4.1 is a requirement consistent with the execution of LanzaTech’s global strategy for the commercialization of its Licensed IP and Licensed Technical Information.

	4.3
	LanzaTech covenants that it will use [***] to obtain in future commercial licenses to third party licensees of its Licensed IP and Licensed Technical Information for the commercial production of fuels and/or chemicals (“Third Party Licensees”) entered into by LanzaTech an assignment of such Third Party Licensees’ improvements to the relevant Licensed IP and Licensed Technical Information consistent with LanzaTech’s global strategy referred to in Article 4.2.

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	4.4
	To the extent that LanzaTech enters into a commercial license with any Third Party Licensee that does not contain an assignment of improvements referred to in Article 4.3, then LanzaTech shall require that the Third Party Licensee pay reasonable compensation or other valuable consideration, which may consist of [***]. Upon written request by Suncor, which may be made no more than [***], LanzaTech will provide within [***] an executed officer’s certificate stating whether or not LanzaTech is in compliance with Sections 4.3 and 4.4 and the circumstances of any non-compliance, subject only to applicable confidentiality obligations that apply to LanzaTech.

Article 5
Confidential Information
	5.1
	“Confidential Information” means:

		(a)
	all information of a confidential nature (in any form or media including, without limitation, documents, electronic files, prints, reproductions, designs, drawings, specifications, programs and Technical Information residing in any of these said documents) disclosed by or on behalf of a Party (the “Disclosing Party”) to the other Party or its Affiliate or Sublicensee (the “Receiving Party”); and

		(b)
	all information (in any form or media) disclosed by or on behalf of the Disclosing Party to the Receiving Party verbally or in any other mode, which may reasonably be regarded by the Receiving Party as being confidential regardless of whether such information has been explicitly or tacitly identified as being secret or confidential (whether as a result of the nature of the information itself or the circumstances of its disclosure);

in connection with this Agreement whether before or after the Effective Date of this Agreement, including without limitation, Licensed Subject Matter, compositions of matter, business plans, finances, marketing plans, design of plants and facilities, customers or prospects. The terms of this Agreement shall be considered the Confidential Information of both Parties.
Confidential Information does not include information that is:
		(c)
	at the time of its disclosure by the Disclosing Party, already in the public domain or which subsequently enters the public domain other than by breach of the terms of this Agreement by the Receiving Party;

		(d)
	already known to the Receiving Party (as evidenced by written records) at the time of its disclosure by the Disclosing Party and was not otherwise acquired by the Receiving Party from the Disclosing Party under any obligations of confidence;

		(e)
	at any time after the date of this Agreement acquired by the Receiving Party from a third party having the right to disclose the same to the Receiving Party without breach of obligation owed by that third party to the Disclosing Party; or

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		(f)
	independently developed by the Receiving Party outside the scope of this Agreement.

	5.2
	Non-disclosure. Neither Party shall at any time for a period of [***] from the date of disclosure of the particular Confidential Information to the Receiving Party or the date that is [***] after the expiration or termination of the Term, whichever is later, (i) disclose to any other third person or third party unless the third party must access the Confidential Information to perform in accordance with this Agreement and the third party has executed a written agreement that contains terms substantially similar to the terms contained in this Article 5 or (ii) use for any purpose except as contemplated by this Agreement, any Confidential Information which has been disclosed by either Party to the other under or pursuant to this Agreement, and each Party shall use reasonable efforts to keep all such Confidential Information confidential (whether it is marked as such or not), except as authorized by this Article 5. LanzaTech will not be precluded from practicing the Developed Technology by this Article 5. Suncor will not be precluded from practicing the Licensed Subject Matter by this Article 5 so long as such practice is in accordance with the other provisions of this Agreement.

	5.3
	Authorized disclosure. A Receiving Party may disclose the Confidential Information of a Disclosing Party if:

		(a)
	required to be disclosed by applicable law or order of a court of competent jurisdiction or government department or agency, subject to compliance with Article 5.5;

		(b)
	approved in writing by the Disclosing Party to be disclosed by the Receiving Party to a third party; or

		(c)
	reasonably required by a third party for construction, design, debugging, maintenance, operation, repair of or other work or offers to work in connection with a Licensed Facility provided that such third party is bound by a legal obligation to maintain the confidentiality of such Confidential Information on terms substantially as restrictive as those in this Article 5 or as otherwise agreed by the Parties in any applicable engineering agreement for a Licensed Facility.

	5.4
	Disclosure to Affiliates. Either Party may disclose any Confidential Information to any of its Affiliates for the purpose of discharging its duties and obligations or exercising its rights under this Agreement, which are obligated to hold such information in confidence. Receiving Party will be responsible for breaches of this Article 5 caused by the acts or omissions of Receiving Party’s Affiliates which acts and omissions will be deemed those of Receiving Party.

	5.5
	Disclosure required by law. In the event that Receiving Party is required by law or order of a court of competent jurisdiction or government department or agency to disclose any Confidential Information, the Receiving Party shall to the extent permitted by law or court order, provide Disclosing Party with prompt written notice of same so that Disclosing Party may either seek a protective order or other appropriate remedy. In the event that such

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protective order or other appropriate remedy is not obtained, Receiving Party will furnish only that portion of the Confidential Information of the Disclosing Party which in the reasonable opinion of its legal counsel is legally required and will exercise its reasonable efforts (not including any financial obligation) to obtain reliable assurance that the Confidential Information so disclosed will be accorded confidential treatment.
	5.6
	Press releases and public announcements. All press releases and public announcements relating to this Agreement can only be made by a Party subject to the other Party’s express written consent.

	5.7
	Return of Confidential Information. A Disclosing Party may at any time after termination of this Agreement request in writing that the Receiving Party return or destroy (and to certify in writing that it has so destroyed) any or all copies of, or material (in whatever form) in its possession or control which embodies the Disclosing Party’s Confidential Information (unless required by law to be retained). The Receiving Party must promptly comply with such request. On receipt of any such request any right to use the Confidential Information of the Disclosing Party that is described in that notice will cease. Notwithstanding the foregoing, each Receiving Party is entitled to keep one copy of any analyses, compilations, studies and other documents prepared by it which may contain the Confidential Information of the Disclosing Party solely for their own internal records and not for use for any other purpose, and LanzaTech is entitled to retain information regarding the Developed Technology and use the same within the scope of its rights thereto. The Receiving Party must treat any such copy kept by it as Confidential Information which is subject to the terms of this Agreement.

Article 6
Indemnities and Liabilities
	6.1
	Representations and Warranties.

		(a)
	Each Party represents and warrants as of the Effective Date that it has the right and authority to enter into this Agreement.

		(b)
	LanzaTech represents and warrants that it has all right, title and interest to the Licensed Subject Matter necessary for it to grant the Commercial License hereunder.

	6.2
	Notice of Infringement. If during the term of this Agreement, any suit or action is commenced or threatened against Suncor or its Sublicensee based upon a claim or allegation that the use of the Licensed Subject Matter as contemplated in this Agreement infringes any third party’s Intellectual Property, Suncor will promptly inform LanzaTech in writing.

	6.3
	LanzaTech IP Infringement Claims. LanzaTech shall indemnify and, at its own expense, defend or settle and hold harmless the Suncor Indemnitees and their respective successors, heirs and assigns from and against any Claim alleging that the Licensed Subject Matter licensed under this Agreement infringes such third party’s Intellectual Property

​

(“Infringement Claim”), provided that this obligation shall be proportionately reduced to the extent:
		(a)
	any such Infringement Claim alleges an infringement through the use of the Licensed Subject Matter in a manner not contemplated in this Agreement;

		(b)
	the Infringement Claim derives from the operation of the Licensed Facility outside the designs, specifications, and procedures of the engineering agreement entered into in connection therewith or as required by LanzaTech’s basic engineering design package or Licensed Technical Information, except as otherwise approved in writing by LanzaTech;

		(c)
	the Infringement Claim derives from a change to the Licensed Subject Matter made by or on behalf of Suncor or its Affiliate or Sublicensee(s), which was not previously approved by LanzaTech in writing; or

		(d)
	any Infringement Claim is made by Suncor, its Affiliates or its Sublicensees, or any of their respective Personnel.

	6.4
	Settlement of Infringement Claims. LanzaTech shall have the sole authority to settle any Infringement Claim for which the indemnity in Article 6.3 is available. In settling any such Infringement Claim, LanzaTech shall use [***] to acquire necessary license rights to avoid future infringements by the Licensed Subject Matter; and/or propose modifications to the Licensed Subject Matter which could avoid any such future infringements. Suncor shall reasonably accept, and procure that any applicable Affiliate or Sublicensee reasonably accept, the proposed modifications provided that such modifications shall be made in such a manner so as not to materially impact the ability of the Licensed Facility to produce a Product nor materially impact the cost to Suncor or its Sublicensee of operating the Licensed Facility. Suncor shall not and shall cause its Affiliates and Sublicensees not to settle or compromise any Infringement Claim without LanzaTech’s consent. LanzaTech shall not settle or compromise an Infringement Claim without Suncor’s consent if such settlement or compromise obliges Suncor to pay any money in excess of the cap for such Infringement Claims in Article 6.11(d) or imposes any other obligation on Suncor not contemplated by this Article 6.4.

	6.5
	Additional Indemnification by LanzaTech. LanzaTech shall indemnify, defend and hold harmless the Suncor Indemnitees and their respective successors, heirs and assigns from and against any Claim based upon, arising out of, or otherwise relating to a breach of its confidentiality obligations hereunder, Gross Negligence or intentional misconduct by LanzaTech or its Affiliates, or their Personnel, in connection with their actions or omissions pursuant to this Agreement.

	6.6
	Indemnification by Suncor. Suncor shall indemnify, defend and hold harmless the LanzaTech Indemnitees and their respective successors, heirs and assigns from and against any Claim based upon, arising out of, or otherwise relating to (i) a breach of Suncor’s confidentiality obligations hereunder, (ii) Gross Negligence or intentional misconduct by Suncor or its Affiliates or Sublicensees, or their Personnel, in connection with their actions

​

or omissions pursuant to this Agreement, including without limitation any such cause of action relating to product liability concerning any Product, process or service made, used or sold pursuant to any right or license granted under this Agreement or (iii) any act or omission of Suncor or its Affiliates or Sublicensees or their respective Personnel in respect of any breach of the Environmental Laws.
	6.7
	Notification of Claims. The Party seeking indemnification hereunder shall promptly notify the indemnifying Party of the details of the indemnity claim; not make any admission in relation to the indemnity claim; allow the indemnifying Party to have conduct of the defense or settlement of the matter that is the subject of the indemnity claim (provided that the indemnified Party is entitled to have its own counsel participate in any such defense or settlement at its own cost and expense); and give the indemnifying Party all reasonable assistance (at indemnifying Party’s expense) in dealing with the matter that is the subject of the indemnity claim. The indemnified Party’s failure to perform any obligations under this Article 6.6 shall not relieve the indemnifying Party of its obligations under Article 6 except to the extent the indemnifying Party can demonstrate that it has been prejudiced as a result of such failure.

	6.8
	Defense of Claims. LanzaTech shall defend against any Claims brought or filed with respect to the subject of the indemnity contained in Article 6.3 or 6.5, whether or not such actions are rightfully brought. Suncor shall defend against any Claims brought or filed with respect to the indemnity contained in Article 6.6, whether or not such actions are rightfully brought. The indemnified Party is entitled to have its own counsel participate in any action or settlement in connection with this Article 6 at its own cost and expense.

	6.9
	Disclaimer of Warranties. EXCEPT AS PROVIDED IN THIS ARTICLE 6 ABOVE, LANZATECH AND ITS AFFILIATES MAKE NO REPRESENTATIONS, WARRANTIES OR CONDITIONS (EXPRESS, IMPLIED, STATUTORY OR OTHERWISE), WITH RESPECT TO THE VALIDITY, ENFORCEABILITY AND SCOPE OF ANY OF THE LICENSED SUBJECT MATTER, THE ACCURACY, COMPLETENESS, SAFETY, USEFULNESS FOR ANY PURPOSE OR LIKELIHOOD OF SUCCESS OF THE LICENSED SUBJECT MATTER OR ANY OTHER LANZATECH TECHNOLOGY, TECHNIQUES, MATERIALS, METHODS, PRODUCTS, PROCESSES OR PRACTICES AT ANY TIME MADE AVAILABLE BY LANZATECH, AND SUBJECT TO THE PROVISIONS AGREED HEREIN, LANZATECH SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, QUALITY, FITNESS FOR A PARTICULAR PURPOSE, WARRANTIES ARISING FROM A COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE OR TRADE PRACTICE AND ALL OTHER WARRANTIES AND CONDITIONS OF NONINFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS OR ANY OTHER RIGHTS.

	6.10
	Caps on liability.

		(a)
	THE LIABILITIES EXPRESSLY ASSUMED BY LANZATECH UNDER THIS AGREEMENT SHALL BE LANZATECH’S ONLY LIABILITY UNDER OR IN RELATION TO THIS AGREEMENT, AND SUNCOR HEREBY RELEASES

​

LANZATECH AND ITS AFFILIATES FROM ANY AND ALL OTHER SUCH LIABILITY AND CLAIMS OF LIABILITY, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE.
		(b)
	EXCEPT FOR ROYALTIES OWING FROM SUNCOR TO LANZATECH UNDER THIS AGREEMENT, SUNCOR’s AGGREGATE MAXIMUM TOTAL LIABILITY UNDER THIS AGREEMENT BOTH AT CONTRACT AND AT LAW, INCLUDING, BY WHATEVER CAUSE INCLUDING NEGLIGENCE, SHALL IN NO EVENT EXCEED [***] (“SUNCOR GENERAL CAP”). THE SUNCOR GENERAL CAP WILL NOT APPLY TO LOSS OR DAMAGE (1) [***], (2) [***], OR (3) [***].

		(c)
	EXCEPT WHERE ARTICLE 6.10(D) APPLIES, LANZATECH’S MAXIMUM AGGREGATE TOTAL LIABILITY UNDER THIS AGREEMENT, BOTH AT CONTRACT AND AT LAW, BY WHATEVER CAUSE INCLUDING NEGLIGENCE, SHALL IN NO EVENT EXCEED [***];

PROVIDED THAT, FOR ANY ONE LICENSED FACILITY, LANZAECH’S MAXIMUM AGGREGATE TOTAL LIABILITY UNDER THIS AGREEMENT AND ANY RELATED ENGINEERING, PERFORMANCE GUARANTEE, SUPPLY OR OTHER AGREEMENT FOR SUCH FACILITY, BOTH AT CONTRACT AND AT LAW, BY WHATEVER CAUSE INCLUDING NEGLIGENCE, FOR ANY CLAIMS ARISING OUT OF OR RELATING TO SUCH LICENSED FACILITY, SHALL IN NO EVENT EXCEED [***] (“LANZATECH GENERAL CAP”).
THE LANZATECH GENERAL CAP WILL NOT APPLY TO LOSS OR DAMAGE (1) [***], (2) [***], OR (3) [***].
		(d)
	NOTWITHSTANDING THE FOREGOING, LANZATECH’S AGGREGATE MAXIMUM TOTAL LIABILITY FOR All CLAIMS UNDER ARTICLE 6.3 SHALL IN NO EVENT EXCEED [***].

	6.11
	Limitation on liability.

		(a)
	EXCEPT AS PROVIDED IN LANZATECH’S PROCESS PERFORMANCE GUARANTEE AS APPLICABLE TO ANY LICENSED FACILITY OR AS CONTEMPLATED IN AN INDEMNIFICATION OBLIGATION IN THIS AGREEMENT, LANZATECH SHALL HAVE NO LIABILITY WHATSOEVER UNDER THIS AGREEMENT TO SUNCOR, ITS AFFILIATES OR SUBLICESEES OR ANY OTHER PERSON FOR OR ON ACCOUNT OF ANY INJURY, LOSS, OR DAMAGE, OF ANY KIND OR NATURE, SUSTAINED BY, OR ANY DAMAGE ASSESSED OR ASSERTED AGAINST, OR ANY OTHER LIABILITY INCURRED BY OR IMPOSED ON SUNCOR, ANY AFFILIATE OR SUBLICESEE OR ANY OTHER PERSON ARISING OUT OF OR IN CONNECTION WITH OR RESULTING FROM THE CONSTRUCTION, USE, OPERATION, OR MAINTENANCE OF ANY LICENSED FACILITY OR

​

THE MANUFACTURE, USE, OFFER FOR SALE, SALE OR IMPORT OF PRODUCT OR BY-PRODUCT OR THE PRACTICE OF THE LICENSED SUBJECT MATTER OR THE USE OF OR ANY ERRORS OF OMISSIONS IN ANY LANZATECH TECHNICAL INFORMATION. NOTHING HEREIN SHALL BE CONSTRUED AS A REPRESENTATION OR WARRANTY BY LANZATECH THAT SUNCOR’S SPECIFIC IMPLEMENTATION OF THE LICENSED SUBJECT MATTER WILL BE SUCCESSFUL
		(b)
	EXCEPT AS SET OUT IN SECTION 6.11(C), NO PARTY NOR ITS EMPLOYEES NOR ITS AFFILIATES, JOINTLY OR SEVERALLY, SHALL BE RESPONSIBLE OR LIABLE TO THE OTHER PARTY OR ANY THIRD PARTY UNDER THIS AGREEMENT FOR ANY KIND OF INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY TYPE OF LOSS OR DAMAGE, LOSS OF PRODUCTION, LOSS OF PRODUCT, LOSS OF USE, LOSS OF ANTICIPATED PROFITS, INCREASED EXPENSE OF OPERATION, OR FEEDSTOCK LOSS OR USE, REGARDLESS OF CAUSE AND EVEN IF SUCH LOSS OR DAMAGE IS CAUSED BY ANY OF THEIR SOLE OR CONTRIBUTORY OR ACTIVE OR PASSIVE NEGLIGENCE OR OTHER LEGAL FAULT, AND THE OTHER PARTY HEREBY RELEASES EACH OF THE FOREGOING FROM ANY AND ALL SUCH LIABILITY. THE LIMITATIONS IN THIS ARTICLE 6.11(B) SHALL NOT APPLY TO LOSS OR DAMAGE ARISING OUT OF A PARTY’S BREACH OF ITS OBLIGATIONS UNDER ARTICLE 5 (CONFIDENTIAL INFORMATION) OF THIS AGREEMENT.

		(c)
	THE LIMITATIONS ON LIABILITY IN SECTIONS 6.11(A) AND 6.11(B) SHALL NOT APPLY TO LOSS OR DAMAGE RESULTING FROM OR ARISING OUT OF (1) A PARTY’S GROSS NEGLIGENCE OR WILFUL MISCONDUCT OR (2) THIRD PARTY CLAIMS COVERED BY A PARTY’S INDEMNIFICATION OBLIGATIONS IN ARTICLES 6.3, 6.5 OR 6.6, AS APPLICABLE, WHICH SHALL BE INDEMNIFIED IN ACCORDANCE WITH SUCH ARTICLES.

	6.12
	Privity. NEITHER PARTY SHALL BE LIABLE TO ANY THIRD PARTY AS A RESULT OF THIS AGREEMENT. Suncor shall ensure that its Affiliates comply with the terms of this Agreement as if the obligations of Suncor under this Agreement are obligations of its Affiliates, and the actions or omissions of its Affiliates are the actions or omissions of Suncor. Suncor shall be responsible to LanzaTech for any breach of the terms of this Agreement by any of its Affiliates as if they were breaches by Suncor. This Article 6.12 shall not be construed to (i) limit the rights of Suncor’s Affiliates to exercise the Commercial License hereunder or (ii) prejudice Suncor’s ability to recover losses, damages or other liabilities suffered by its Affiliates as a result of such Affiliates’ exercise of the Commercial License hereunder pursuant to the terms of this Agreement, which losses, damages and other liabilities may be attributed to Suncor in any claim against LanzaTech therefor to the extent such losses, damages or other liabilities are not already asserted by Suncor in any such claim.

​

	6.13
	Nothing in this Agreement excludes or limits the liability of a Party for fraud or fraudulent misrepresentation or any other liability which cannot lawfully be excluded or limited.

Article 7
Force Majeure
Neither Party shall be liable for any loss, damage, delay or failure of performance resulting directly or indirectly from an Event of Force Majeure provided that the affected Party shall take all reasonable steps to mitigate the effect of such Event of Force Majeure. Notwithstanding the foregoing, an Event of Force Majeure shall not suspend or relieve a Party of any of its obligations of payment to the other Party.
Article 8
Termination
	8.1
	If no Commencement Date has occurred prior to two (2) years after the Expiration Date, then this Agreement shall terminate on that date. Notwithstanding the foregoing, if the Commencement Date for any Licensed Facility was initially expected by the Parties to occur prior to the date two (2) years after the Expiration Date, then, upon notice from Suncor, the termination of this Agreement with respect to such Licensed Facility will be extended as reasonably necessary to account for any delays to the Commencement Date attributable to LanzaTech or to circumstances outside the reasonable control of the Suncor or its Sublicensee, which new reasonable termination date will be set out in the notice from Suncor to LanzaTech (which will be subject to LanzaTech’s agreement, not to be unreasonably withheld).

	8.2
	Either Party shall have the right to terminate this Agreement forthwith at any time by notice in writing to the other upon the happening of any of the following events:

		(a)
	if the other Party commits a material breach of any of the terms of this Agreement and does not within [***] of receipt of notice of the breach (if the same be capable of remedy) repair such breach; or

		(b)
	if the other Party should go into liquidation or should do or suffer any similar act or thing under any applicable law, such as the making of a general assignment for the benefit of creditors by such Party, the entering into of any arrangement or composition with creditors (other than for the purposes of a solvent reconstruction or amalgamation), or the institution by such Party of proceedings seeking to adjudicate such Party as bankrupt or insolvent, or seeking protection or relief from creditors, or seeking liquidation, winding up, or rearrangement, reorganization or adjustment of such Party or its debts (other than for purposes of a solvent reconstruction or amalgamation), or seeking the entry of an order for the appointment of a receiver, trustee or other similar official for such Party or for all or a substantial part of such Party’s assets.

	8.3
	If Suncor fails to pay any undisputed amount when due hereunder with respect to any Licensed Facility and such failure continues for [***] after Suncor’s receipt of written

​

notice of nonpayment, LanzaTech shall have the right to terminate the Commercial License with respect to such Licensed Facility by notice in writing to Suncor.
	8.4
	On ninety (90) days written notice to LanzaTech, Suncor may terminate this agreement for convenience.

	8.5
	If this Agreement expires or is terminated for any reason, (i) all liabilities and payment obligations accrued prior to the effective date of the termination will survive; and (ii) Suncor will immediately return to LanzaTech all LanzaTech materials in its possession, including without limitation Confidential Information and embodiments of Licensed Subject Matter and LanzaTech will immediately return to Suncor all Suncor materials in its possession including without limitation Confidential Information. and (iv) Article 3.2(f)-(g)Article 5 (Confidential Information), Article 10 (Governing Law), Article 11 (Dispute Resolution), Article 12 (Miscellaneous), this Article 8.5 shall survive any expiration or termination of this Agreement. In the year of such termination, the Parties shall prepare a final certification in accordance with Article 3.1(f). If this Agreement is terminated, in whole or in part, in connection with a material breach of the Agreement by Suncor or its Affiliates, then the Commercial License and all other licenses under this Agreement of the Licensed Subject Matter will cease immediately and such licenses shall revert to LanzaTech except to the extent Suncor guarantees the continued payment of all royalties due to LanzaTech from all Licensed Facilities for the life of such facilities.

Article 9
Other Commercial Terms
	9.1
	Right of First Refusal. When a project investment and/or Product offtake opportunity is to be offered to or by LanzaTech from or to a third party in respect of a LanzaTech project in Canada and/or the State of Colorado using Licensed Subject Matter between the Effective Date and the Expiration Date (‘Support Project”), LanzaTech grants to Suncor and its Affiliates the right of first refusal to invest in or receive offtake from such Support Project on terms no less favourable than those to be offered to or by such third party and LanzaTech shall promptly notify Suncor in writing of the terms of any such offer (the ‘Notice”). Suncor shall have [***] from the receipt of such Notice to agree to invest in or receive offtake from such Support Project on the terms set out in such Notice. Where Suncor does not agree to invest in or receive offtake from such Support Project on such terms or does not respond to the notice within [***] of receipt, then LanzaTech may enter into an agreement with the applicable third party investor or offtake purchaser on terms that are either identical in all material respects to the terms in the Notice or less favourable to the third party investor or offtake purchaser than those offered to Suncor in the Notice, provided this right will be subject to rights granted by LanzaTech to third parties that are in existence prior to the Effective Date.

	9.2
	Visitors. Suncor shall, and shall procure from Sublicensees, upon reasonable notice by LanzaTech, permit authorized representatives of LanzaTech and its actual and potential customers and investors to visit any Licensed Facility at mutually convenient times (each being a ‘Visitor”). Such access will be subject to Suncor’s and/or its Sublicensees safety, security and confidentiality requirements. Accordingly, each Visitor may be required, by

​

Suncor or its Sublicensee, to sign a visitor acknowledgment form or such other reasonable documentation prior to accessing the premises of the Licensed Facility.
Article 10
Governing law
This Agreement and all matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflicts of law that would impose the law of another jurisdiction, and the Parties agree for any dispute arising in connection with this Agreement, subject to Article 11, to accept and submit to the exclusive jurisdiction of the courts of the State of New York.
Article 11
Dispute resolution
	11.1
	The Parties shall in good faith attempt to resolve any claim, dispute or difference between them arising out of or in connection with this Agreement or the implementation of any of the provisions of this Agreement.

	11.2
	In the event of a dispute arising between the Parties under or in connection with the Agreement, the Parties may agree to submit the dispute to arbitration, or either Party may, within the limitation periods prescribed by law, commence litigation with respect to the dispute.

	11.3
	Should the Parties agree to resolve the dispute by arbitration, then the dispute shall be submitted for arbitration before a single arbitrator with the costs associated with the arbitrator and other costs of arbitration shared equally between the Parties and each Party bearing their own costs of the arbitration and shall be conducted at a venue mutually agreed between the Parties.

Article 12
Miscellaneous
	12.1
	Notices

		(a)
	Any notice or other document to be given under this Agreement shall be in writing and shall be deemed to have been duly given if left at or sent by hand or by certified or registered post to a Party at the address set out below for such Party or such other address as one Party may from time to time designate by written notice to the other.

		(b)
	Any such notice or other document shall be deemed to have been received by the addressee [***] following the date of dispatch if the notice or other document is sent by certified or registered post, or upon confirmation of delivery or transmission if sent by hand.

If to Suncor:
​
​

​
	Address:
	P.O. Box 2844, 150 6th
Avenue SW, Calgary, Alberta
T2P 3E3

	Attn:
	​

​
If to LanzaTech:
​
	Address:
	8045 Lamon Ave, Suite 400
Skokie, Il 60077
USA

	Attn:
	Legal Department

​
	12.2
	Each Party shall not identify the other Party or any of their Affiliates in any promotional advertising or other promotional materials or any other materials to be disseminated to the public or any portion thereof or to use the name of any such Party’s representative or employee or any trademark, service mark, trade name, or symbol of such Party (“Names”), without the first Party’s prior written consent. This restriction shall not apply to any information, including Names, required by law or any stock listing organization to be disclosed or which it is necessary or advisable to disclose in connection with obtaining financing and investment, provided in such instances such Names shall be used solely in a nominative manner.

	12.3
	Suncor shall provide all required information and assistance and execute all necessary documents regarding any petition(s) filed by LanzaTech with the relevant government authorities for any Tax exemption/reduction on payments made to LanzaTech under this Agreement. The Parties shall reasonably cooperate in minimizing their liabilities for Taxes in connection with this Agreement.

	12.4
	Assignment

		(a)
	Assignment of rights

		(i)
	Except as otherwise set out in this Agreement, each Party may only transfer or assign any or all of its rights under this Agreement to any third party subject to the written consent of the other Party. The rights and obligations of this Agreement shall bind and benefit any successors or assigns of the Parties.

		(ii)
	Either Party may transfer or assign any or all of its rights under this Agreement to an Affiliate of such Party without the consent of the other Party.

		(iii)
	Subject to LanzaTech’s prior written consent, which will not be unreasonably withheld, Suncor may either (A) sublicense the Commercial License rights granted hereunder that are applicable to a Licensed Facility

​

pursuant to the terms of Article 3.4, or (B) assign or transfer its rights and obligations under this Agreement applicable to a Licensed Facility on a Licensed Facility by Licensed Facility basis, in each case, to the purchaser of all or substantially all of the assets of the Suncor Affiliate operating such Licensed Facility.
		(b)
	In the case of an assignment or transfer pursuant to Article 12.4 (a), each Party shall waive any and all claims against the other Party and/or the other Parties’ Affiliate as applicable in connection with the applicable Licensed Facility or Licensed Facilities, where such claims arise on or after the date of such assignment or transfer. Without limitation of any of its other rights, LanzaTech may consider the effect of this Section 12.4(b) in determining whether to grant its consent under Article 12.4(a)(i) or 12.4(a)(iii).

		(c)
	Novation of obligations

Except as set out in Article 12.4, no Party shall transfer any or all of its obligations under this Agreement to any third party without the prior written consent of the other Party. Any authorized transfer of obligations hereunder shall be effected through a novation agreement between Suncor, LanzaTech and the third party in order to attest the transfer of obligations from the original obligor to the new obligor.
	12.5
	Sale of Business; Bankruptcy

If LanzaTech ceases to operate its business (in whole or in part) or that portion of the business that is primarily related to Suncor’s rights hereunder or otherwise transfers, sells or assigns such business, or part thereof, to any third party, LanzaTech will, as promptly as possible under the circumstances, notify Suncor of such discontinuation or such transfer, sale or assignment and shall take all further acts reasonably necessary to enable Suncor to maintain its rights under this Agreement.
All licenses granted hereunder are, and will otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, licenses to rights in 3intellectual property. ́ The parties agree that, in the event of commencement of bankruptcy proceedings by or against either Party, the other Party will be entitled, at its option, to retain all of its rights under this Agreement pursuant to Section 365(n) of the United States Bankruptcy Code.
	12.6
	Waiver

Except as specifically provided for herein, the waiver by a Party of any of their rights or their failure to exercise any remedy shall not operate or be construed as a continuing waiver of the same or of any other rights or remedies of such Party as provided for in this Agreement.
	12.7
	Severability

​

If any term, covenant or condition of this Agreement or the application thereof to any Party or circumstances shall, to any extent, be held to be invalid or unenforceable, then the remainder of this Agreement, or the application of such term, covenant or condition to the Parties or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted by law. The Parties shall meet to discuss the void and unenforceable provisions and shall substitute therefor a lawful and enforceable provision which so far as possible results in the same objectives and economic effects.
	12.8
	Entire Agreement

This Agreement sets forth the entire agreement between the Parties and supersede all previous agreements and understandings, whether oral or written, between the Parties with respect to the subject matter of this Agreement, including that certain Joint Development Agreement dated March 19, 2015 which is hereby superseded in its entirety by this Agreement.
	12.9
	Amendment

This Agreement may not be amended, varied, supplemented or otherwise modified except as expressly stated in this Agreement or by an instrument in writing signed by an authorized representative of each Party.
	12.10
	No joint venture or partnership

It is not the intention of the Parties to create nor shall this Agreement be deemed or construed to create a partnership, joint venture, association, trust or fiduciary relationship or to authorize the other Party to act as an agent, servant or employee for any other Party.
	12.11
	Costs

[***] costs and expenses incurred in connection with the preparation and execution of this Agreement.
	12.12
	Execution of Agreement

This Agreement may be executed in counterparts that together shall be deemed to constitute one valid and binding Agreement and delivery of counterparts may be effected by means of facsimile transmission or PDF with the same effect as if original copies had been delivered.
---The rest of this page is left intentionally blank---
​
​

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the day and year first written above.
Signed for and on behalf of
Suncor Energy Inc.
​
	/s/ Bradley Wamboldt
	​

	​
	​

	Bradley Wamboldt
	​

	Name
	​

	​
	​

	GM, Enterprise Technology
	​

	Title
	​

	​
	​

	October 6, 2020
	​

	Date
	​

​
​
Signed for and on behalf of
	LanzaTech, Inc.
	​

	​
	​

	/s/ Jennifer Holmgren
	​

	​
	​

	Jennifer Holmgren
	​

	Name
	​

	​
	​

	Chief Executive Officer
	​

	Title
	​

	​
	​

	October 5, 2020
	​

	Date
	​

​Exhibit 10.37
Certain confidential information contained in this exhibit, marked by brackets, has been redacted in accordance with Regulation S-K Item 601(b) because the information (i) is not material and (ii) would be competitively harmful if disclosed.

​
​
FRAMEWORK AGREEMENT
​
by and between
​
LANZATECH, INC.
​
as Developer,
​
and
​
BGTF LT AGGREGATOR LP
​
as Investor
​
Dated as of October 2, 2022
​
​

​

​

TABLE OF CONTENTS
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	​

	​

	​

	​

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	Page

	ARTICLE I DEFINITIONS
	1

	​
	Section 1.1
	Definitions
	1

	​
	Section 1.2
	Headings and Table of Contents
	9

	​
	Section 1.3
	Interpretation
	10

	ARTICLE II EXCLUSIVITY
	11

	​
	Section 2.1
	Exclusivity
	11

	​
	Section 2.2
	Certain Exceptions
	11

	​
	Section 2.3
	Termination of Exclusivity
	12

	ARTICLE III PROJECT PRESENTATION, EVALUATION AND ACQUISITION
	12

	​
	Section 3.1
	Development Pipeline Coordination
	12

	​
	Section 3.2
	Developer Efforts; Facilitation of Acquisitions
	14

	​
	Section 3.3
	FID
	14

	​
	Section 3.4
	Investor Notices
	14

	​
	Section 3.5
	Purchase Agreement
	16

	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	16

	​
	Section 4.1
	General Representations and Warranties
	16

	ARTICLE V CERTAIN COVENANTS
	17

	​
	Section 5.1
	Investor Access to Funding
	17

	​
	Section 5.2
	Financing Support
	18

	ARTICLE VI PERFORMANCE INCENTIVE PAYMENTS
	18

	​
	Section 6.1
	Performance Incentive Payments
	18

	ARTICLE VII TERM
	18

	​
	Section 7.1
	Initial Term
	18

	​
	Section 7.2
	Renewal Term
	18

	​
	Section 7.3
	Survival
	18

	​

	​

	​

	​

​
​

i

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	ARTICLE VIII DISPUTE RESOLUTION
	18

	​
	Section 8.1
	Disputes
	18

	​
	Section 8.2
	Continued Performance
	19

	​
	Section 8.3
	Injunctive Relief
	19

	ARTICLE IX CONFIDENTIALITY
	19

	​
	Section 9.1
	Confidentiality
	19

	​
	Section 9.2
	Use of Information
	20

	​
	Section 9.3
	Public Announcements
	21

	ARTICLE X MISCELLANEOUS PROVISIONS
	21

	​
	Section 10.1
	Notices
	21

	​
	Section 10.2
	Assignment
	21

	​
	Section 10.3
	Successors and Assigns
	22

	​
	Section 10.4
	Third-Party Beneficiaries
	22

	​
	Section 10.5
	Other Activities
	22

	​
	Section 10.6
	Further Assurances
	22

	​
	Section 10.7
	Governing Law
	22

	​
	Section 10.8
	WAIVER OF JURY TRIAL
	22

	​
	Section 10.9
	Consent to Jurisdiction
	22

	​
	Section 10.10
	Severability
	23

	​
	Section 10.11
	Entire Agreement
	23

	​
	Section 10.12
	Amendments to Agreement
	23

	​
	Section 10.13
	Facsimile; Counterparts
	23

​
​

ii

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	Appendices
	    
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	Appendix A
	​
	Investment Criteria

	Appendix B
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	FID Package Deliverables

	Appendix C
	​
	Project Representations

	Appendix D
	​
	Performance Incentive Payments

	​
	​
	​

	Schedules
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	​

	​
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	Schedule I
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	Proven Feedstock

	Schedule II
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	Schedule of Fees

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	​
	​

	Exhibits
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	​

	Exhibit A
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	Form of FID Notice

	Exhibit B
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	Form of Preliminary Notice

	Exhibit C
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	Form of Approval Notice

	Exhibit D
	​
	Form of Rejection Notice

	Exhibit E
	​
	Form of Non-Compliance Notice

	Exhibit F
	​
	Form of Non-Conforming Project Approval Notice

	​
	​
	​

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FRAMEWORK AGREEMENT
THIS FRAMEWORK AGREEMENT (this “Agreement”) dated as of October 2, 2022 (the “Effective Date”), is by and between LANZATECH, INC. (“Developer”) and BGTF LT AGGREGATOR LP (“Investor”), each a “Party” and, collectively, the “Parties.”
RECITALS
WHEREAS, Developer develops Projects (as defined below) that employ Carbon Capture and Transformation Technology (as defined below);
WHEREAS, Investor desires to invest in Projects that employ Carbon Capture and Transformation Technology and that satisfy certain Investment Criteria (as defined below);
WHEREAS, with respect to Projects  acquired by Investor or its Affiliates (as defined below), the Parties have agreed that a specified percentage of free cash flow generated by such Projects will be shared by Investor with Developer, with the amount of such sharing determined in accordance with an agreed hurdle-based return waterfall (as set forth in more detail in Appendix D);
WHEREAS, concurrently with the execution and delivery of this Agreement, Investor has invested $50,000,000 in a Simple Agreement for Future Equity issued by LanzaTech NZ, Inc. (the “SAFE”); and
WHEREAS, in consideration of the sharing of free cash flow generated by Projects acquired by Investor or its Affiliates, Developer has agreed to grant Investor certain rights as set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1Definitions.  The following terms when used in this Agreement shall have the meanings set forth in this Section 1.1:
“Acquisition” means, for each Project, the purchase of such Project by Investor or its Affiliate designee.
“Affiliate” of a specified Person means any Person that, directly or indirectly, Controls, is Controlled by, or is under common Control with, such specified Person.
“Agreement” has the meaning set forth in the Preamble.
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“Alliance Agreement” means that certain Amended and Restated Alliance Agreement dated February 15, 2022, by and between LanzaTech NZ, Inc., a company organized and existing under the laws of Delaware and Mitsui & Co., Ltd. as amended pursuant to an Amendment No. 1 to Amended and Restated Alliance Agreement dated March 24, 2022 and an Amendment No. 2 to Amended and Restated Alliance Agreement dated October 2, 2022 (and without giving effect to any subsequent amendments except to the extent the same expand Investor’s rights hereunder).
“Alternative Transaction” means [***].
“Anti-Money Laundering Laws” means any applicable Law relating to money laundering, including, without limitation, the USA PATRIOT Act of 2001.
“Approval Notice” has the meaning set forth in Section 3.4(c)(i).
“Approved Project” has the meaning set forth in Section 3.4(d).
“Business Day” means every day except a Saturday or Sunday, or a legal holiday in the City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.
“CAPEX Budget” means, with respect to any Project, the projected amount of Capital Costs for such Project from FID to achieving Commercial Operation, in form and substance satisfactory to Investor.
“Capital Costs” means, with respect to any Project, the cost of the development, design, engineering, acquisition, equipping, construction, assembly, inspection, testing, completion, and startup of such Project following FID in order for it to commence Commercial Operation, including, without duplication: (a) all amounts payable under the Material Project Documents for such Project; (b) financing, advisory, engineering, accounting, financial, consulting, legal and other fees; and (c) all other costs reasonably required for such Project to reach Commercial Operation.
“Carbon Capture and Transformation Technology” means carbon capture and utilization or transformation technologies or solutions employing Developer’s or its Affiliates’ gas fermentation processes that use feedstocks containing carbon dioxide, hydrogen and/or carbon monoxide (including, but not limited to, waste emissions from steel, oil refining, and ferroalloy industries, gasified municipal solid waste, agricultural wastes, and reformed biogas) to produce end products such as ethanol and other chemicals.
“Commercial Operation” means, with respect to any Project, that (a) the construction and installation of such Project has been completed and such Project is ready for commercial operation in compliance with all applicable Laws and Project Permits, and (b) such Project shall have successfully passed all commercial operation tests at a level that demonstrates reasonable likelihood to achieve the operating parameters described in the Financial Model.
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“Confidential Information” means information disclosed under the Mutual Confidentiality Agreement or on or after the Effective Date by or at the direction or request of Investor, its Affiliates or its and its Affiliates’ respective Representatives or Developer, its Affiliates or its and its Affiliates’ respective Representatives to the other Party, its Affiliates or any Representatives of the other Party or its Affiliates in writing, electronically, verbally or through visual means including tours, together with all reports, analyses, summaries, interpretations, compilations, forecasts, notes, data, studies and other documents and materials in whatever form maintained, whether prepared by either Party, its Affiliates or its and its Affiliates’ respective Representatives, to the extent that they contain or reflect any such information. Failure to mark or identify Confidential Information as “Confidential” or “Proprietary” does not preclude disclosed information from being Confidential Information if the receiving Party, Affiliate or Representative knew or reasonably should have known that it was Confidential Information, it being the intention of the Parties that all information disclosed under the Mutual Confidentiality Agreement or on or after the Effective Date by the Parties in connection with this Agreement shall be considered confidential and subject to the protection of this Agreement, subject only to the exceptions contained in this Agreement.
Notwithstanding the foregoing, Confidential Information shall not include information that (a) is or becomes generally available to the public other than as a result of act or failure to act by a Party, its Affiliates or its and its Affiliates’ respective Representatives in contravention of this Agreement; (b) is obtained by the receiving Party or its Affiliates on a non-confidential basis prior to its disclosure by the disclosing Party, its Affiliates or its or its Affiliates’ respective Representatives from a source other than the disclosing Party, its Affiliates or its and its Affiliates’ respective Representatives; (c) was developed by the receiving Party, its Affiliates or its and its Affiliates’ respective Representatives independently of and without reference to any information communicated by the disclosing Party, its Affiliates or its and its Affiliates’ respective Representatives to the receiving Party, its Affiliates or its and its Affiliates’ respective Representatives, or (d) was communicated by a Party, its Affiliates or its and its Affiliates’ respective Representatives to an unaffiliated third party free of any obligation of confidence.
“Construction Management Agreement” means, with respect to any Project, a contract regarding the construction thereof in form and substance satisfactory to Investor (and with fees no higher than those set forth in Schedule II).
“Control” means (a) [***], or (b) having beneficial ownership, directly or indirectly, of [***], computed on a fully diluted basis, of the voting equity interests of a Person.  The terms “Controlling” and “Controlled” have meanings correlative to the foregoing.
“Coordination Meeting” has the meaning set forth in Section 3.1(b).
“Developer” has the meaning set forth in the Preamble.
“Development Pipeline” means all Projects where Developer is solely or jointly responsible for obtaining or providing equity financing, except any Project which pursuant to Section 2.2 is not subject to Section 2.1.
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“Development Pipeline Report” means a report in form and substance satisfactory to Investor which sets forth information regarding the status of the Development Pipeline, including information regarding anticipated project schedules, status of key Investment Criteria, financial information about projects and information regarding Novel Feedstock Projects sufficient for Investor to determine the likelihood of investment in future Projects using such Feedstock.
“Diligence Period” means, in each case with respect to a Project, the period beginning with the delivery of an FID Notice and ending on the earlier of (a) the end of the Preliminary Period, if Investor fails to deliver to Developer a Preliminary Notice prior thereto, (b) the delivery (or deemed delivery) of an Investor Notice, and (c) the date which is [***] after the delivery of such FID Notice, as the same may be extended by mutual agreement of the Parties.
“Dispute” has the meaning set forth in Section 8.1(a).
“Effective Date” has the meaning set forth in the Preamble.
“Eligible Project” means any Project that meets the Investment Criteria.
“Environmental Laws” means applicable Laws pertaining to:  (a) the protection of the environment (including all air, surface water, groundwater, sediment or land, including land surface or subsurface, including all fish, wildlife, biota and all other natural resources); (b) the presence, handling, use, generation, treatment, storage, transportation, disposal, manufacture, distribution, formulation, packaging, labeling or release of any Hazardous Material, or worker health and safety as it relates to exposure to Hazardous Materials; (c) any adverse impacts or damage to natural resources (including protection of species formally listed or designated under applicable Law as threatened or endangered); (d) protection of cultural or historic resources; or (e) occupational health and safety as it relates to exposure to Hazardous Materials.
“Equity Funding” means, with respect to any Project, the amount of the total projected Capital Costs through commercial operation of such Project to be funded by way of capital contributions by Investor and/or its Affiliates (as specified in the agreed Financial Model), taking into consideration the debt commitments indicated in the applicable Project Financing Indication; provided that if the Project Financing Indication for such Project provides for debt financing representing greater than [***] of the total projected Capital Costs as of FID, then the Equity Funding amount for such Project shall be considered to be [***] of the total projected Capital Costs as of FID in the applicable Financial Model solely for purposes of calculating the Non-Repayable Amount (as defined in the SAFE).  The final amount of Equity Funding for a Project shall be determined following receipt of the Project Financing Indication.
“Equity IRR” has the meaning set forth in Appendix D.
“Equity IRR at FID” means, as of FID, the modeled forecast of internal rate of return, on a post-tax basis, compounded annually, to Investor with respect to the applicable Project calculated for the period commencing on the Acquisition date of such Project and ending upon the forecasted end of the useful life of such Project, based upon the amount and timing of all equity investments

	1
	NTD:  Development Pipeline Report will set forth information regarding the status of the Development Pipeline, including information regarding anticipated project schedules, status of key Investment Criteria and financial information about projects.  The Report will include information regarding Novel Feedstock Projects sufficient for Brookfield to determine they are likely in want to invest in future Projects using such Feedstock. Form to be provided by Brookfield.

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in such Project (including the Purchase Price and all Equity Funding), and all cash distributed or available for distribution (after, for the avoidance of doubt, payment of all operating and maintenance expenses and debt service), in each case, determined in accordance with the agreed Financial Model for such Project. Equity IRR at FID shall be calculated by taking into consideration the applicable Project Financing Indication ([***]), but excluding any Project Financing or other indebtedness incurred in respect of such Project subsequent to Investor’s approval of such Project for investment.
“Exclusivity Undertaking” has the meaning set forth in Section 2.1.
“Feedstock” means the applicable feedstock on which a Project relies to produce its applicable output, including, but not limited to, gas, gases or other organic materials containing carbon dioxide, hydrogen and carbon monoxide and any waste emissions, including any such emissions from steel, oil refining, and ferroalloy industries, gasified municipal solid waste, agricultural wastes, and reformed biogas.
“Feedstock Contract” has the meaning set forth in Appendix A.
“FID” means, with respect to any Project, the date on which Developer believes the Investment Criteria have been achieved or has determined that they are not achievable but that such Project is ready for construction financing.
“FID Notice” has the meaning set forth in Section 3.3(a).
“FID Package” has the meaning set forth in Section 3.3(a).
“Financial Model” means the project development and operational financial forecast model, in form and substance reasonably acceptable to Investor, developed in Microsoft Excel used to determine the economic feasibility of a specific project opportunity that is presented on a monthly basis, or other regular timeframe agreed by the parties, that specifies the project’s total installed cost, development timeline and associated funding requirements, construction timeline and associated funding requirements, all project input and output operating assumptions that are agreed to in the project’s key project documents and agreements, which include but are not limited to [***], and includes [***].
“Governmental Approval” means any authorization, approval, consent, license, ruling, permit, tariff, certification, exemption, order, recognition, grant, confirmation, clearance, filing or registration by or with any federal, national, regional, state, municipal or local government, any political subdivision or any governmental, judicial, public or statutory instrumentality, tribunal, court, agency, authority, body or entity, or other regulatory bureau, authority, body or entity having legal jurisdiction over the matter or Person in question.
“Governmental Authority” means any governmental department, tax authority, commission, board, bureau, agency, court or other instrumentality of any country, state, province, county, parish or municipality, jurisdiction, or other political subdivision thereof.
“Hazardous Materials” means (a) any petroleum, petroleum constituents, petroleum products or petroleum by-products, flammable, ignitable, corrosive or explosive substances or
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materials, radioactive materials, bio hazardous materials, greenhouse gases, asbestos in any form that is or could become friable, urea formaldehyde, pesticides, radon, mold or polychlorinated biphenyls (PCBs), (b) any chemicals or other materials or substances which are defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “pollutants,” “contaminants,” “regulated substances,” “toxic materials,” “toxic substances,” “toxic pollutants” or words of similar import under any applicable Environmental Law, and (c) any other chemical or other material or substance for which liability or standards of conduct may be imposed by, any Governmental Authority under any applicable Environmental Law.
“Highly Sensitive Trade Secrets” has the meaning set forth in Section 9.1(b).
“Historical Costs” means, with respect to each Project, the historical development costs incurred by Developer, as evidenced by its books and records or as documented in services agreements at third-party standard hourly rates (with no additional markups), between Developer and the applicable Project Company for such Project (or other evidence reasonably accepted by Investor) made available to Investor, for such Project to reach FID, in all cases solely to the extent the same would be capitalized in accordance with GAAP, plus third-party financing costs to get such Project to FID; provided, that any general and administrative costs of Developer shall not account for greater than [***] of the Historical Costs of such Project; provided, further, that Historical Costs shall not include any research and development costs or success fees.
“Initial Term” has the meaning set forth in Section 7.1.
“Investment Criteria” means the criteria set forth in Appendix A.
“Investor” has the meaning set forth in the Preamble.
“Investor Notice” means any of the Approval Notice, Rejection Notice, Non-Compliance Notice or Non-Conforming Project Approval Notice.
“IP License Agreement” means, with respect to any Project, a contract regarding the licensing of all necessary intellectual property of Developer and its Affiliates not provided pursuant to the Construction Management Agreement, in form and substance satisfactory to Investor (and with fees no higher than those set forth in Schedule II).
“Law” means any treaty, constitution, law, statute, ordinance, rule, order, permit, decree, regulation or other directive which is legally binding and has been enacted, issued or promulgated by any Governmental Authority.
“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).
“Material Project Documents” means [***].
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“Mitsui” means Mitsui & Co., Ltd.
“Mutual Confidentiality Agreement” means [***]
“Non-Compliance Notice” has the meaning set forth in Section 3.4(c)(iii).
“Non-Conforming Project Approval Notice” has the meaning set forth in Section 3.4(c)(iv).
“Notice” has the meaning set forth in Section 10.1(a).
“Novel Feedstock” means any Feedstock and/or associated processes that (a) [***], and (b) [***].
“Novel Feedstock Project” means any Project that meets the Investment Criteria, but the Feedstock and/or associated processes for such Project is Novel Feedstock.
“O&M Agreement” means, with respect to any Project, a contract regarding the operation and maintenance thereof in form and substance satisfactory to Investor (and with fees no higher than those set forth in Schedule II).
“O&M Budget” means, with respect to any Project, the projected amount of operations and maintenance expenditures for such Project, in form and substance satisfactory to Investor.
“Offtake Contract” has the meaning set forth in Appendix A.
“Offtaker” means the Person or Persons who are the revenue sources for a Project, whether through a fuel supply contract, a tolling arrangement, any other agreement to purchase the output of a Project or otherwise.  Developer may be an Offtaker.
“Originator” means initially, the Person who originates, and thereafter the Person who continuously pursues, the development of a Project.
“Party” or “Parties” has the meaning set forth in the Preamble.
“Performance Incentive Payments” has the meaning set forth in Appendix D.
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property; and (d) Liens affecting a landlord’s interest in property leased to such Project Company subject to a financeable non-disturbance agreement or other arrangement in which the tenant’s interest is recognized and protected.
“Person” means any natural person, partnership, limited partnership, limited liability partnership, joint venture, syndicate, sole proprietorship, company or corporation (with or without share capital), limited liability corporation, joint stock company, unincorporated association, trust, trustee, executor, administrator or other legal entity, or any Governmental Authority.
“Preliminary Notice” has the meaning set forth in Section 3.4(a).
“Preliminary Period” has the meaning set forth in Section 3.4(a).
“Project” means a project to construct a commercial production facility (and not a demonstration facility) employing Carbon Capture and Transformation Technology that Developer or its Affiliates is developing or otherwise pursuing in the Territory.
“Project Company” means, for each Project, an entity that wholly-owns (or upon Acquisition will wholly-own) such Project.
“Project Financing” means non-recourse financing from [***], or other lenders mutually agreed by the Parties, with market rate pricing (determined by reference to prevailing rates for Project Financings in the applicable jurisdiction, if available) and with terms customary for the applicable market and reasonably acceptable to Investor.
“Project Financing Indication” means a non-binding commitment or indication of Project Financing terms provided to Investor or its Affiliate designee by [***], or other lenders mutually agreed by the Parties, on the basis of the FID Package, providing for debt financing of at least [***] of the total projected Capital Costs of the applicable Project as of FID.
“Project Permit” means any permit, license, authorization, plan, directive, consent order, approval, registration, exemption or consent decree of or from any Governmental Authority for a Project.
“Project Representations” has the meaning set forth in Appendix C.
“Proven Feedstock” means any Feedstock and/or associated processes that either (a) [***], or (b) [***].  For the avoidance of doubt, the Parties agree that as of the Effective Date, the Feedstock listed on Schedule IV constitute Proven Feedstock.
“Purchase Agreement” means, with respect to any Project,, a Purchase and Sale Agreement in form and substance satisfactory to Investor.
“Purchase Price” has the meaning set forth in Section 3.5(b).
“Rejection Notice” has the meaning set forth in Section 3.4(c)(ii).
“Renewal Term” has the meaning set forth in Section 7.2.
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“Representatives” has the meaning set forth in Section 2.1.
“Required Insurance” means with respect to each Project, those insurance policies necessary for such Project to begin development and construction.
“SAFE” has the meaning set forth in the Recitals.
“Sanctions” means any economic or financial sanctions or trade embargoes imposed, administered, or enforced from time to time by the United States (including without limitation the Office of Foreign Assets Control of the U.S. Department of the Treasury), Canada, the United Kingdom, the European Union and member states thereof, the United Nations Security Council, and any other applicable Governmental Authority.
“Site Control Documents” means, with respect to each Project, all agreements and instruments granting any real property interest required for the construction, operation or maintenance of such Project.
“Term” has the meaning set forth in Section 7.2.
“Territory” means the European Union, the United Kingdom, the United States of America, Canada or Mexico.
“Trade Secrets” means any information qualifying as a trade secret under either 18 U.S.C § 1839 or the laws of the State of New York.
Section 1.2Headings and Table of Contents.  The inclusion of headings and a table of contents in this Agreement are for convenience of reference only and will not affect the construction or interpretation hereof.
Section 1.3Interpretation.  In this Agreement, unless the context otherwise requires:
(a)words importing the singular shall include the plural and vice versa, words importing gender shall include all genders or the neuter, and words importing the neuter shall include all genders;
(b)the words “include,” “includes,” “including,” or any variations thereof, when following any general term or statement, are not to be construed as limiting the general term or statement to the specific items or matters set forth or to similar items or matters, but rather as referring to all other items or matters that could reasonably fall within the broadest possible scope of the general term or statement;
(c)references to any Person include such Person’s successors and permitted assigns;
(d)any reference to a statute, regulation, policy, rule or instrument shall include, and shall be deemed to be a reference also to, all amendments made to such statute, regulation, policy, rule or instrument and to any statute, regulation, policy, rule or instrument that
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may be passed which has the effect of supplementing or superseding the statute, regulation, policy, rule or instrument so referred to;
(e)any reference to this Agreement or any other agreement, document or instrument shall be construed as a reference to this Agreement or, as the case may be, such other agreement, document or instrument as the same may have been, or may from time to time be, amended, varied, replaced, amended and restated, supplemented or otherwise modified;
(f)in the event that any day on which any amount is to be determined or any action is required to be taken hereunder is not a Business Day, then such amount shall be determined or such action shall be required to be taken at or before the requisite time on the next succeeding day that is a Business Day;
(g)except where otherwise expressly provided, all amounts in this Agreement are stated and shall be paid in U.S. currency;
(h)the words “herein,” “hereof,” “hereby” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety, not to any particular article or section hereof and not to any particular provision hereof, except where the context otherwise requires; and
(i)all references herein to Articles, Sections, Appendices, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Appendices, Exhibits and Schedules to, this Agreement, unless otherwise indicated.
ARTICLE II
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EXCLUSIVITY
Section 2.1Exclusivity.  Developer agrees that, throughout the Term, (a) it shall, and shall cause its Affiliates and its and its Affiliates’ respective directors, officers, general partners, managers, employees, agents, financing sources or advisors (including, without limitation, investment bankers, accountants and legal counsel) (“Representatives”), to immediately cease all existing negotiations, if any, in respect of any Alternative Transaction; (b) it shall not, and shall cause its Affiliates not to, and shall not authorize its and its Affiliates’ respective Representatives to, take any action to, directly or indirectly, initiate, solicit or engage in any negotiations or otherwise knowingly cooperate with or assist or participate in any effort in respect of any Alternative Transaction; and (c) it shall offer, or cause to be offered, each Project in the Development Pipeline to Investor in accordance with this Agreement; provided that nothing herein shall prohibit Developer from submitting or obligate Developer to submit projects not in the Development Pipeline to Investor (clauses (a) through (c) being, collectively, the “Exclusivity Undertaking”).
Section 2.2Certain Exceptions.  Notwithstanding Section 2.1, the Exclusivity Undertaking shall not apply to:
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(a)Novel Feedstock Projects that rely on the same Feedstock, if Developer has received (or is deemed to have received) a Rejection Notice from Investor in respect of [***] such Novel Feedstock Projects relying on the same Feedstock;
(b)any Project with respect to which Developer has received (or is deemed to have received) a Rejection Notice or, in accordance with Section 3.4(c)(iii), a second Non-Compliance Notice from Investor;
(c)solely to the extent required by the Alliance Agreement, any Project where Mitsui is afforded rights inconsistent with the Exclusivity Undertaking (it being understood that such rights as of the Effective Date are only with respect to those Projects where the applicable Originator, Feedstock provider or Offtaker has in writing indicated an intention to own [***] or more of the equity of such Project and not subsequently altered such intention such that it intends to own less than [***] of the equity of such Project), provided, that, if at any time Mitsui determines or is deemed to have determined not to provide equity financing for such Project, such Project shall become subject to Section 2.1, subject to the provisions of Section 2.2; or
(d)
(e)any Project with respect to which Investor has given written notice of its intention not to invest in such Project pursuant to Section 3.4(g).
For the avoidance of doubt, nothing in Sections 2.1 and 2.2 shall prohibit Developer or its Affiliates from licensing its intellectual property.
Section 2.3Additional Agreements.  In addition to the Exclusivity Undertaking,
(a)any Project where an Originator, Feedstock provider or an Offtaker (in each case, other than Developer or any of its Affiliates) is itself arranging or running a process to arrange financing for a Project and has invited Developer or any of its Affiliates to submit a funding proposal for such Project,  Developer shall, and shall cause its Affiliates to, only participate in such process with Investor as the sole equity financing partner, on economic terms consistent with this Agreement unless otherwise agreed by Investor;
(b)notwithstanding Section 2.2, (i) if the applicable Originator, Feedstock provider or Offtaker of a Project has in writing indicated an intention to own [***] or more of the equity of such Project, then the terms of the Alliance Agreement shall apply; and (ii) upon and following the earlier of (A) [***] after the date Mitsui is notified of such Project pursuant to the Alliance Agreement if Mitsui has not agreed within such [***] to provide equity financing for such Project pursuant to the Alliance Agreement or (B) Mitsui determining not to provide equity financing for such Project, Developer shall (or shall cause its applicable Affiliate to):
(i)introduce Investor and its Affiliates to the Originator, Feedstock provider or Offtaker, as applicable, as a potential equity financing partner for such Project and not introduce any other potential equity financing partner, and
(ii)provide Investor with reasonable, non-confidential updates on the status of such Project through FID of such Project.
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Section 2.4Termination of Exclusivity.  The Exclusivity Undertaking by Investor shall terminate and be of no further force or effect prior to the end of the Term upon the earlier of (a) the aggregate Equity Funding in respect of Projects acquired by Investor or its Affiliates is at least $500,000,000, provided that the Exclusivity Undertaking shall not terminate unless Investor notifies Developer in writing that it no longer will comply with its obligations under Section 5.1, (b) Investor having provided (or is deemed to have provided) a Rejection Notice in respect of any [***] Eligible Projects in any [***] period (for the avoidance of doubt, any Project for which Investor provides a Non-Conforming Project Approval Notice shall not count towards such [***] Projects), and (c) the [***] anniversary of the date of this Agreement.
ARTICLE III
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PROJECT PRESENTATION, EVALUATION AND ACQUISITION
Section 3.1Development Pipeline Coordination.
(a)Developer shall use commercially reasonable efforts to, no later than [***] after the end of each calendar quarter, provide Investor with (i) an updated Development Pipeline Report, (ii) an emissions offset report, in form and substance reasonably satisfactory to Investor, and (iii) such additional information regarding the business, financial, legal or corporate affairs of Developer (solely to the extent such requested information relates directly to Projects in the Development Pipeline) or regarding the Development Pipeline, as Investor may reasonably request.
(b)The Parties shall meet, either in-person or telephonically, [***] to discuss the status of the Development Pipeline and Developer’s anticipated schedule for Projects in the Development Pipeline (each such meeting, a “Coordination Meeting”).  Each such Coordination Meeting shall include discussion regarding:
(i)[***];
(ii)[***];
(iii)[***];
(iv)[***];
(v)[***]; and
(vi)[***].
(c)Notwithstanding anything to the contrary set forth herein, Developer shall not be obligated to provide Investor or its Affiliates information (i) that Developer reasonably determines in good faith to be a trade secret of Developer, or (ii) the disclosure of which could adversely affect the attorney-client privilege between Developer or any of its Affiliates and its counsel and that would not reasonably be expected to be information owned by Investor upon Acquisition of the Project.  Developer may decline to provide information subject to the attorney-client privilege that it reasonably determines is highly sensitive until (i) Investor has executed an
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appropriate common interest agreement (or similar agreement intended to protect the attorney-client privilege) and (ii) such Project is an Approved Project.  Prior to Developer disclosing information it considers material non-public information about Developer or its Affiliates (other than the Project), it may require Investor acknowledge that such information is material non-public information regarding Developer and that Investor shall treat it accordingly.
(d)Developer shall reasonably consider Investor perspectives and requests regarding topics discussed during Coordination Meetings, and shall provide Investor with the opportunity to review and comment on contracts and permits relating to Projects in the Development Pipeline.
(e)Notwithstanding anything to the contrary set forth herein, Developer shall not be obligated to provide any information to Investor or its Affiliates after the Exclusivity Undertaking by Investor has terminated upon the expiration of the Term or pursuant to Section 2.3, whichever is earlier.
Section 3.2Developer Efforts; Facilitation of Acquisitions.  Developer shall use commercially reasonable efforts to:
(a)present Investor with Eligible Projects that over the Term and in the aggregate require Equity Funding of at least $500,000,000;
(b)subject to Section 9.3, promote Investor as the preferred source of capital to customers that, in Developer’s reasonable judgment, are likely to need third-party funding to develop, construct and own Projects in the Development Pipeline;
(c)not develop Projects that are not excluded from the Exclusivity Undertaking pursuant to Section 2.2, in a manner that is intended to frustrate Investor’s rights under this Agreement;
(d)provide a dedicated team to work on Projects in the Development Pipeline; and
(e)cause each Approved Project to be owned by a Project Company.
Section 3.3FID.
(a)Upon FID of any Project in the Development Pipeline, Developer shall, and upon FID of any other Project, Developer may, deliver a written notice to Investor in substantially the form of Exhibit A (such notice, an “FID Notice”) and simultaneously therewith shall provide Investor with all deliverables listed on Appendix B (together with the FID Notice, the “FID Package”).
(b)During the Diligence Period in respect to such Project, Developer shall:
(i)grant reasonable access to Investor and its Affiliate designees to the Project site; and
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(ii)provide such assistance to Investor as Investor may reasonably request in connection with Investor’s due diligence of such Project.
Section 3.4Investor Notices.
(a)Not more than [***] after receipt of the FID Notice (the “Preliminary Period”), Investor shall deliver to Developer a notice giving a preliminary indication of interest or rejection of such Project in substantially the form of Exhibit B (such notice, a “Preliminary Notice”).
(b)If Investor indicates in the Preliminary Notice that it is interested in continuing due diligence on such Project, Investor shall, during the remainder of the Diligence Period, approach banks regarding Project Financing for such Project and use good faith efforts to obtain a Project Financing Indication.
(c)Prior to the end of the Diligence Period in respect to such Project, Investor shall deliver to Developer:
(i)If, in Investor’s reasonable opinion, such Project meets the Investment Criteria and Investor intends to invest in such Project, (A) a notice approving such Project in substantially the form of Exhibit C (an “Approval Notice”), and (B) an updated draft of the Purchase Agreement;
(ii)If, in Investor’s reasonable opinion, such Project meets the Investment Criteria and Investor does not intend to invest in such Project, a notice rejecting such Project in substantially the form of Exhibit D (a “Rejection Notice”) (any Preliminary Notice containing a preliminary indication of rejection for an Eligible Project shall be deemed a Rejection Notice);
(iii)If, in Investor’s reasonable opinion, such Project does not meet the Investment Criteria and Investor does not intend to invest in such Project, a notice rejecting such Project for reason of non-compliance and identifying the Investment Criteria such Project does not meet in substantially the form of Exhibit E (a “Non-Compliance Notice”) (any Preliminary Notice containing a preliminary indication of rejection for a Project that does not meet the Investment Criteria shall be deemed a Non-Compliance Notice); provided, that if Developer disagrees with Investor’s opinion, and it is subsequently determined pursuant to Section 8.1 or otherwise by the Parties that such Project meets the Investment Criteria, then such Project shall be deemed a Project for which Investor has delivered to Developer a Rejection Notice; provided, further, that Developer may deliver a new FID Notice to Investor requesting approval of such Project after Developer uses reasonable efforts to cure all of such Project’s non-compliance with the Investment Criteria, and such notice shall again become subject to the terms set forth in this Article III and the status of such Project shall be determined by the new Investor Notice that Developer will receive from Investor; or
(iv)If, in Investor’s reasonable opinion, such Project does not meet the Investment Criteria but Investor nonetheless intends to invest in such Project, (A) a notice of such Project’s ineligibility in substantially the form of Exhibit F (a “Non-Conforming
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Project Approval Notice”) identifying the Investment Criteria such Project does not meet, and (B) an updated draft of the Purchase Agreement.
(d)Any Project for which Investor delivers to Developer either an Approval Notice or a Non-Conforming Project Approval Notice shall become an “Approved Project” upon delivery of such notice.  Notwithstanding anything herein or in the SAFE to the contrary, no Project in which Investor invests prior to FID (and receipt of an FID Notice) in order to reach FID and not completion, shall, by virtue of such pre-FID investment, constitute an Approved Project under the SAFE (but any Project in which Investor invests pursuant to an Approval Notice or a Non-Conforming Project Approval Notice after receipt of an FID Notice, regardless of whether Investor has invested pre-FID, shall constitute an Approved Project under the SAFE).
(e)Any Eligible Project for which Investor fails to deliver to Developer an Investor Notice prior to the end of the Diligence Period shall be deemed a Project for which Investor has delivered to Developer a Rejection Notice.
(f)Notwithstanding anything herein to the contrary, Investor shall not have any obligation to purchase any Project.  Investor’s obligation to purchase a Project shall only exist if Investor executed a Purchase Agreement for such Project, and then the terms of the Purchase Agreement shall govern such obligation.
(g)Notwithstanding anything herein to the contrary, Developer may, at any time present a Project to Investor and request an expression of interest with respect thereto without having delivered a FID Notice regarding such Project to Investor.  In such case, Investor shall, within [***] of the request from Developer, in good faith determine, based on information available to it at such time, and notify Developer, whether such Project may be a Project in which Investor is interested in investing.  If Investor does not deliver a response indicating that it may be interested in investing in such Project within such [***] period, it shall be deemed to have delivered written notice that it does not intend to ever invest in such Project,  Nothing in this Section 3.4(g) shall modify any other obligations of the Parties under this Agreement with respect to a Project unless Investor, at any time and in its sole discretion, provides (or is deemed to have provided) written notice of its intention not to ever invest in such Project.
Section 3.5Purchase Agreement.
(a)Upon determination of an Approved Project, the Parties shall use commercially reasonable efforts to execute a Purchase Agreement for such Project as promptly as practicable.  As of the time that such Project is presented to Investor for approval, Developer shall have executed the O&M Agreement, the Construction Management Agreement and the IP License Agreement for such Project, or have such agreements ready to be executed.  The Parties acknowledge that execution of such agreements is a condition to Investor’s obligation to consummate the Acquisition of such Project.
(b)The aggregate consideration payable by Investor to Developer for an Approved Project (the “Purchase Price”) shall be an amount equal to [***].
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ARTICLE IV
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REPRESENTATIONS AND WARRANTIES
Section 4.1General Representations and Warranties.  Each Party represents and warrants to the other Party that, as of the Effective Date:
(a)It is a duly organized, validly existing entity of the type described in the Preamble to this Agreement and is in good standing under the laws of the jurisdiction of its formation and is duly qualified to do business and in good standing as a foreign corporation in the jurisdiction of its principal place of business (if not formed in that jurisdiction).  It has all requisite power and authority to enter into and to perform its obligations under this Agreement and has obtained (to the extent applicable Law permits the obtaining of same at this point in time) all consents, approvals, permits and other authorizations from applicable Governmental Authorities necessary for it to enter into and to perform its obligations under this Agreement.
(b)Its execution, delivery, and performance of this Agreement have been duly authorized by all necessary corporate action on its part and, if necessary, on the part of its equity owners and do not and will not (i) violate any applicable Law, or (ii) violate its organizational documents.
(c)This Agreement, when executed by such Party, shall constitute a valid and legally binding obligation of such Party, enforceable against such Party in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium or other Laws affecting the enforcement of creditors’ rights generally, and by general principles of equity (whether considered in a suit at law or in equity).
(d)There is no litigation pending or, to the best of its knowledge, threatened which it or any of its Affiliates is a party that could reasonably be expected to have a material adverse effect on its financial condition, prospects or business or its ability to perform its obligations under this Agreement.
(e)The execution, delivery, and performance of this Agreement will not conflict with, violate or breach the terms of any agreement to which it is a party or any agreement to which its properties are subject.
(f)It and its Affiliates and each of their respective members, managers, and officers are and have at all times been in compliance with the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations promulgated thereunder, and any other applicable anti-corruption or anti-bribery Laws.
(g)None of such Party and its Affiliates and each of their respective members, managers, and officers (i) has violated or is in violation of any Sanctions or Anti-Money Laundering Laws, or (ii) is targeted by any Sanctions or has engaged in any dealings with or for the benefit of any Persons targeted by Sanctions.  There are no pending nor, to the knowledge of such Party, threatened, actions involving such Party and its Affiliates and each of their respective members, managers, and officers with respect to any Sanctions or Anti-Money Laundering Laws.
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ARTICLE V
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CERTAIN COVENANTS
Section 5.1Investor Access to Funding.  Throughout the Term, Investor shall have access to (which may be through its Affiliates) at least $500,000,000 for Equity Funding of new Eligible Projects (which amount shall not be reduced to reflect investments in Projects).
Section 5.2Financing Support.  Prior to the Acquisition of any Approved Project, Developer agrees to, and to cause its Affiliates to, use commercially reasonably efforts to reasonably cooperate with Investor and its Affiliates’ direct and indirect investors, lenders, prospective investors, prospective lenders, and other Persons providing Project Financing in respect of or relating to such Project or any Material Project Document therefor.2
ARTICLE VI
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PERFORMANCE INCENTIVE PAYMENTS
Section 6.1Performance Incentive Payments.  The Parties agree that the applicable Purchase Agreement for each Project acquired by Investor or its Affiliate designee shall include distributions of free cash flow of the applicable Project Company substantially in accordance with the terms set forth in Appendix D (with adjustments that maintain substantially the same economic terms for the Parties in the event that Brookfield owns less than 100% of a Project).
ARTICLE VII
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TERM
Section 7.1Initial Term.  Unless earlier terminated in accordance with this Article VII, the term of this Agreement shall commence on the Effective Date and shall continue in effect until 5:00 p.m. New York City time on the fifth (5th) anniversary of the Effective Date (the “Initial Term”).
Section 7.2Renewal Term.  If, prior to the expiration of the Initial Term or any subsequent renewal pursuant to this Section 7.2, the Parties agree to extend the then-current term of this Agreement, then all provisions herein (other than Section 2.1, the effectiveness of which shall not be extended) shall remain in full force and effect until the termination of the extended term (a “Renewal Term,” and together with the Initial Term, the “Term”).

	2
	NTD:  Support Obligations to be discussed.  Brookfield is seeking customary financing support, mostly relating to information and potentially lender discussions with Lanzatech.  Also, if LanzaTech is the counterparty to an agreement, we would expect that agreement to also include financing cooperation provisions, and for the financing cooperation to include affording lenders with customary contractual protections through a consent to collateral assignment (e.g., notices, cure rights, etc.).

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Section 7.3Survival.  Notwithstanding anything to the contrary in this Agreement, the provisions of Article IX (Confidentiality) shall survive the expiration or earlier termination of this Agreement.
ARTICLE VIII
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DISPUTE RESOLUTION
Section 8.1Disputes.
(a)In the event of any action, dispute or controversy arising out of or relating to this Agreement (each, a “Dispute”), the Parties shall promptly seek to resolve any such Dispute through negotiations between senior officers or other authorized representatives of the Parties, or their respective Affiliates, in each case, with authority to settle such Dispute.  Within [***] after receipt of a written notice of a Dispute, the non-claiming Party shall submit to the claiming Party a written response.  Both the notice and response shall include (i) a statement of the Party’s position and a summary of the evidence and arguments supporting such position; and (ii) the name, title, fax number and telephone number of the senior officer or authorized representative who shall represent such Party in such negotiations.  The senior officers or other authorized representatives shall meet at a mutually agreed time within [***] after the date such response is delivered and thereafter as often as they deem reasonably necessary to exchange relevant information and attempt to resolve the Dispute.  Such meetings may be conducted in-person (at a mutually agreed place) or via telephonic conference.
(b)If, for any reason, the Dispute has not been resolved within [***] after the date of the initial response given to a notice of Dispute pursuant to Section 10.1, or such additional time, if any, as mutually agreed by the Parties in writing, the claiming Party may pursue such remedies as are available to it at law or in equity.  Notwithstanding the foregoing, nothing in this Section 8.1 shall prevent a Party from pursuing immediate injunctive relief to maintain the status quo or prevent irreparable harm with respect to any Dispute.
Section 8.2Continued Performance.  During the continuation of any Dispute arising under this Agreement, so long as the dispute resolution procedure for resolution of such Dispute is continued by the Parties in good faith, the Parties shall continue to perform their respective obligations under this Agreement, including, without limitation, prompt and timely payment of all amounts due hereunder other than specific payments or portions thereof subject to the Dispute, until a final non-appealable resolution is reached.
Section 8.3Injunctive Relief.  The Parties agree that any violation or breach of this Agreement may result in irreparable and immediate injury to a Party or its Affiliates for which the payment of money damages would not be an adequate remedy.  In addition to any relief or remedy at law or in equity which may be available to a Party or its Affiliates for such a violation or breach, and regardless of any other provision contained in this Agreement, such Party shall be entitled to seek the remedies of injunction, specific performance and other equitable relief for any threatened or actual breach of the provisions of this Agreement, and that no proof of special damages shall be necessary for the enforcement of this Agreement.  Each Party agrees, for itself and its Affiliates, that the Party seeking relief shall not be required to post any bond.
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Section 8.4LIMITATION ON DAMAGES.  Notwithstanding anything herein to the contrary but without limiting Section 8.3, Developer’s aggregate liability hereunder for breaches of this Agreement shall in no event exceed [***].
ARTICLE IX
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CONFIDENTIALITY
Section 9.1Confidentiality.
(a)Each Party agrees to keep the Confidential Information confidential and not to disclose the Confidential Information to any Person other than (i) its Affiliates and direct or indirect investors who have a bona fide need to know such information (who have been informed of the confidential nature of such information and who are subject to and bound by similar obligations of confidentiality and restricted use), (ii) its and its Affiliates’ Representatives (who have been informed of the confidential nature of such information and who are subject to and bound by similar obligations of confidentiality and restricted use and who have a bona fide need to know such information), and (iii) such other Persons as such disclosing Party agrees in writing may receive the Confidential Information.  Each Party agrees to exercise and to direct its Affiliates, and its and its Affiliates’ Representatives to exercise the same degree of care to maintain the confidentiality of the other Party’s Confidential Information as such Party would accord to its own Confidential Information.
(b)With respect to Confidential Information that each Party identifies in writing as constituting highly sensitive Trade Secrets of such Party (“Highly Sensitive Trade Secrets”), the Parties shall endeavor to agree to additional precautions, to the extent necessary, to preserve such Trade Secrets.
(c)Each Party agrees to be liable for the compliance with this Section 9.1 of its Affiliates, and its and its Affiliates’ respective Representatives as if its Affiliates and its and its Affiliates’ respective Representatives were directly bound by the non-disclosure obligations and other provisions of this Section 9.1.
(d)The Parties agree that this Article IX is intended to and does supersede and replace the obligations of the Parties under the Mutual Confidentiality Agreement, which shall no longer have any further force or effect.
Section 9.2Use of Information.  Notwithstanding anything in Section 9.1 above, each of Investor and Developer acknowledges that Confidential Information (other than Highly Sensitive Trade Secrets, if subject to different disclosure procedures in accordance with Section 9.1(b) following agreement thereon) regarding a Project may be disclosed to the extent required:
(a)in connection with discussions regarding any direct or indirect investment in a Party;
(b)to any banks, other lenders or investors, or any rating agencies or consultants, for purposes of or in connection with obtaining (or discussing the potential to obtain)
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Project Financing or other debt or equity financing for Investor or any of its Affiliates to invest in Projects;
(c)to any actual or prospective party to any Material Project Document;
(d)by any Governmental Authority of competent jurisdiction;
(e)by applicable Law or by any subpoena or similar legal process; or
(f)in connection with the exercise of any remedies under this Agreement or any Material Project Documents or any suit, action or proceeding relating to this Agreement or any Material Project Documents or the enforcement of rights hereunder or thereunder;
in each case to the extent the recipient has been informed of the confidential nature of such Confidential Information and is subject to and bound by similar obligations of confidentiality and restricted use.
Section 9.3Public Announcements.  Except as required by any applicable Law or the rules or regulations of any recognized national securities exchange, during the Term, neither Party shall make, nor shall permit its Affiliates to make, any public announcement regarding this Agreement or the transactions contemplated hereby without the prior written consent of the other Party (not to be unreasonably withheld, conditioned or delayed, it being understood that the Parties intend to publicly announce achievement of $500,000,000 in Equity Funding pursuant hereto).  If either Party or any of its Affiliates is required to make such an announcement pursuant to any applicable Law or the rules or regulations of any recognized national securities exchange, it shall, to the fullest extent possible in light of such requirements, provide the other Party reasonable advance notice of the announcement, filing or notification and a copy of the same, and shall consider in good faith comments from the other Party regarding the announcement, filing or notification.
ARTICLE X
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MISCELLANEOUS PROVISIONS
Section 10.1Notices.
(a)Method of Delivery.  All notices and other communications (each, a “Notice”) required or permitted hereunder shall be in writing and shall be deemed effectively given:  (a) upon personal delivery to the Party to be notified, (b) when sent by electronic mail in PDF format (so long as such Party has made available an electronic mail address below), if sent before 5:00 p.m. in the time zone of the recipient, if not, then on the next Business Day, with a copy sent by first class mail (return receipt requested, postage prepaid), (c) five Business Days after having been sent by registered or certified mail, return receipt requested, postage prepaid or (d) two Business Days after deposit with an internationally recognized overnight courier, specifying the soonest possible day of delivery, with written verification of receipt.  All such notices and other communications shall be sent in accordance with the contact information provided for such recipient below.  Either Party may change the address to which notice is to be given to such Party by giving a notice to each other Party in writing stating that such newly
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designated address shall be such Party’s address for purpose of all notices or other communications required or permitted to be given pursuant to this Agreement.
	2.
	If to Developer:

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	[***]
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	Attn:
	[***]

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	Phone:
	[***]

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	Email:
	[***]

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	If to Investor:

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	[***]
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	Attn:
	[***]

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	Phone:
	[***]

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	Email:
	[***]

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Section 10.2Assignment.  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 without the prior written consent of the other Party and any purported assignment or other transfer without such consent shall be void and unenforceable.
Section 10.3Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.
Section 10.4Third-Party Beneficiaries.  This Agreement is for the sole and exclusive benefit of the Parties and their successors and permitted assigns, and nothing herein, expressed or implied, shall give, or be construed to give, to any Person, other than the Parties and such successors and permitted assigns, any legal or equitable right, remedies or claims under or with respect to this Agreement or any provisions hereof.
Section 10.5Other Activities.  No Party hereto shall be prohibited from engaging in or holding an interest in any other business ventures of any kind or description, or any responsibility to account to the other for the income or profits of any such enterprises or have this Agreement be deemed to constitute any agreement not to compete.  This Agreement shall not be deemed to create a partnership, joint venture, association or any other similar relationship between the Parties.
Section 10.6Further Assurances.  Each Party shall use commercially reasonable efforts to take all additional actions and shall execute all other and further instruments and documents as are necessary or appropriate to give full effect to the provisions of this Agreement.
Section 10.7Governing Law.  This Agreement, and any instrument or agreement required hereunder, shall be construed under, and all matters arising out of or in connection with this Agreement (whether in contract, tort or otherwise) shall be governed by, the laws of the State of New York.
Section 10.8WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, AND AGREES TO CAUSE EACH OF ITS AFFILIATES TO WAIVE, TO THE
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FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.  EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF A CLAIM, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.8.
Section 10.9Consent to Jurisdiction.  Each of the Parties (i) consents to submit itself, and hereby submits itself, to the exclusive jurisdiction of the federal and state courts situated in the State of New York in the event any dispute arises out of this Agreement, (ii) agrees that it will not attempt to deny or defeat such jurisdiction by motion or other request for leave from any such court, and agrees not to plead or claim any objection to the laying of venue in any such court or that any judicial proceeding in any such court has been brought in an inconvenient forum, (iii) agrees that it will not bring any action relating to this Agreement in any court other than the federal and state courts situated in the State of New York, and (iv) consents to service of process being made through the notice procedures set forth in Section 10.1.  This consent to jurisdiction is being given solely for purposes of this Agreement, and it is not intended to, and shall not, confer consent to jurisdiction with respect to any other dispute in which a Party may become involved.
Section 10.10Severability.  If any provision of this Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other Persons or circumstances.
Section 10.11Entire Agreement.  This Agreement sets forth the entire understanding and agreement of the Parties, and shall supersede any other agreements and understandings (written or oral) between or among any of the Parties on or prior to the Effective Date with respect to the matters contemplated in this Agreement.
Section 10.12Amendments to Agreement.  No amendment, supplement or other modification to any terms of this Agreement shall be valid unless in writing and executed and delivered by each of the Parties.
Section 10.13Facsimile; Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same agreement, it being understood that all of the Parties need not sign the same counterpart.  Counterparts may be delivered via facsimile, electronic mail (including .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
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[Remainder of Page Intentionally Left Blank]
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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
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	LANZATECH, INC.

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	By:
	/s/ Jennifer Holmgren

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	Name:
	Jennifer Holmgren

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	Title:
	CEO

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	BGTF LT AGGREGATOR LP

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	by
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	BGTF BERMUDA GP LIMITED, its general partner

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	By:
	/s/ James Bodi

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	Name:
	James Bodi

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	Title:
	Director

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