Document:

EX-10.9

 Exhibit 10.9 
  

			
	 

  
	  	  
 SES Holdings Pte. Ltd.

 March 23, 2021 

Joanne Ban Shiang Mei 
 Singapore 

 

	 	Re:	 Employment as Chief Legal and Corporate Officer  

Dear Joanne: 
 The terms in this letter supersede
all prior agreements you have entered into with SES Holdings Pte. Ltd. (the “Company”) and its subsidiaries in relation to your employment. 

From the date hereof, you will be employed on the following terms and conditions. 

1. Position. You will serve as Chief Legal and Corporate Officer of the Company reporting directly to Qichao Hu, Chief Executive
Officer. As a full-time employee of the Company, you will be expected to devote your full business time and energies to the business and affairs of the Company. 

2. Base Salary. As an employee of the Company, you will be paid a base salary at a rate of $275,000 (“Salary”). Such salary
will be payable in accordance with the Company’s normal payment schedule for its employees. You will be an exempt employee under the Fair Labor Standards Act and related laws and as such will not be eligible for overtime pay. 

3. Performance Bonus Compensation. During your employment, you may be considered annually for a performance bonus (the “Performance
Bonus”). The Performance Bonus in any year, if any, will be determined by the Board of Directors of the Company (the “Board”) based on your performance and that of the Company, relative to milestones to be agreed upon between you and
the Board, and otherwise in accordance with a general employee bonus program. The Performance Bonus compensation is expected to be up to 30% of your Base Salary, compensable via cash or equity, as determined by the Board. 

4. Benefits; Vacation; Withholding. You will be entitled to health, insurance, pension, and other benefits provided to other executives
of the Company of similar seniority on terms no less favorable than those available to such executives of the Company generally. Your participation will be subject to the terms of the applicable plan documents and generally applicable Company
policies. The Company retains the right to change, add or terminate any particular benefit. 

  
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 SES Holdings Pte. Ltd.

 

 You will be entitled to earn vacation in accordance with the Company’s policies from
time to time in effect, in addition to holidays observed by the Company, subject to a minimum entitlement of 4 weeks’ vacation and 10 paid holidays per year. Vacation may be taken at such times and intervals as you shall determine, subject to
the business needs of the Company, and otherwise shall be subject to the policies of the Company, as in effect from time to time. 
 5.
Allowance. The Company will pay you an additional $5000 per month as additional compensation subject appropriate deductions. 
 6.
Personal Data. You agree that your personal data such as your photograph, personal mobile/telephone numbers, personal email addresses, residential address, identity document numbers and fingerprints which have been or is in the future
obtained by the Company may be held and processed by the Company or any of its group companies (and where necessary its agents or appointed third parties) either by computer or manually for any purpose relating to the administration, management and
operation of your employment, or in relation to the Company’s or the group companies’ legal obligations or business needs. 
 7.
Confidentiality, Assignment of Intellectual Property and Noncompetition Agreement (“NDA Agreement”). Your execution and delivery if the enclosed NDA Agreement which will, save for existing rights of action, supersede the NDA
Agreement which was entered into between you and the Company and/or its subsidiaries dated February 8, 2019. 
 8. At Will
Employment. Your employment with the Company is an “at-will” employment and may be terminated by either party at any time for any reason, with or without cause. Paragraphs 10 and 11 shall govern
if a termination of employment occurs. 
 9. Termination. 

a. Events of Termination. Your employment with the Company shall terminate upon any of the following: 

(i) the effective date of a written notice by the Company to you stating the Company’s reasonable, good faith
determination to terminate you for Cause (as defined below) (“Termination For Cause”); 
 (ii) the effective date
of a written notice by the Company to you stating the Company’s reasonable, good faith determination, on the basis of advice by a physician appointed by the Company, that due to a mental or physical condition that the Company is not required to
accommodate or cannot reasonably accommodate, you have been unable and failed to substantially render the services to be provided by you to the Company for a period of not less than 180 days in any consecutive
12-month period (“Termination for Disability”); 

  
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 SES Holdings Pte. Ltd.

 

 (iii) your death; 

(iv) the effective date of a notice to you stating that the Company is terminating your employment, without Cause, which notice
can be given by the Company at any time at the Company’s sole discretion, for any reason or for no reason (“Termination without Cause”); 

(v) the effective date of a notice from you to the Company stating that you are terminating your employment with the Company
for Good Reason (as defined below) (“Resignation for Good Reason”); or 
 (vi) the effective date of a notice from
you to the Company stating that you are electing to terminate your employment with the Company for any reason not constituting Good Reason (“Resignation without Good Reason”). 

b. Certain Definitions. For purposes of this Agreement: 

(i) “Cause” shall mean any of the following: (a) you willfully engage in misconduct that is in bad faith and
materially injurious to the Company, including but not limited to, misappropriation of trade secrets, fraud or embezzlement; (b) conviction of, or entering a plea of nolo contendere or guilty to, a felony criminal offense, or any act of moral
turpitude, in each case which could reasonably be expected to impact or interfere with your ability to perform your duties and responsibilities to the Company or to adversely or negatively affect the business, reputation, goodwill, community
standing or other attributes of the Company; (c) you commit a material breach of any written agreement between you and the Company that causes harm to the Company, which breach is not cured within 30 days after receipt of written notice
describing in detail such breach to you from the Company; (d) you willfully refuse to implement or follow a directive by the CEO or Board, directly related to your duties, which breach is not cured within 30 days after receipt of written notice
describing in detail such breach to you from the Company; or (e) you engage in material misfeasance or malfeasance demonstrated by a continued pattern of material failure to perform the essential job duties associated with your position, which
breach is not cured within 30 days after receipt of written notice describing in detail such breach to you from the Company. 

(ii) “Good Reason” shall mean any of the following: (a) a substantial diminution of or substantial detrimental
change in your responsibilities, salary or benefits (other than a change in benefits generally applicable to all eligible employees); or (b) re-location by more than 50 miles of your principal office at
Singapore; provided that none of these events shall constitute Good Reason unless you provide the Company with written notice that Good Reason has occurred and the Company fails to cure such event within 30 days after receipt from you of the written
notice; provided further, that “Good Reason” shall cease to exist for an event on the 60th day following the later of its occurrence or your knowledge thereof, unless you have given the
Company written notice thereof prior to such date. 

  
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 SES Holdings Pte. Ltd.

 

 10. Effect of Termination of Employment. 

a. Termination for Cause, Death or Disability, or Resignation without Good Reason. In the event you are subject to a Termination
for Cause, Death or Disability, or in the event of your Resignation without Good Reason, you will be paid only: (i) any earned but unpaid Base Salary and earned but unused vacation, (ii) you shall not be entitled to the Performance Bonus
for the fiscal year of termination but shall be entitled to any Performance Bonus earned for any fiscal year prior to the year of termination; and (iii) reimbursement for all reasonable and necessary expenses incurred by you in connection with
your performance of services on behalf of the Company in accordance with applicable Company policies and guidelines, in each case as of the effective date of such termination of employment (the “Accrued Compensation”). 

b. Termination without Cause or Resignation for Good Reason. In the event of your Termination without Cause or your Resignation
for Good Reason, you will receive the Accrued Compensation. In addition, provided that, within 30 days following the termination of your employment, you deliver to the Company a signed settlement agreement and general release of claims in favor of
the Company on the Company’s form agreement (the “Release”) and satisfy all conditions to make the Release effective, you shall be entitled to (i) continued payment of your then-current Base Salary for a period of 9 months
following the date of your termination in accordance with the Company’s standard payroll schedule; and (ii) provided you timely elect to continue health insurance coverage under COBRA (if applicable), reimbursement for the usual Company
contribution for health insurance for 9 months following your termination of employment or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer. 

11. Section 409A. To the extent (i) any payments to which you become entitled under this Agreement, or any
agreement or plan referenced herein, in connection with your termination of employment with the Company constitute deferred compensation subject to Section 409A of the Code and (ii) you are deemed at the time of such termination of
employment to be a “specified” employee under Section 409A of the Code, then such payment or payments shall not be made or commence until the earlier of (i) the expiration of the 6-month
period measured from the date of your “separation from service” (as such term is at the time defined in regulations under Section 409A of the Code) with the Company; or (ii) the date of your death following such separation from
service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you, including (without limitation) the additional twenty percent (20%) tax for which you would otherwise be liable under
Section 409A(a)(1)(B) of the Code in the absence of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the
absence of this paragraph shall be paid to you or your beneficiary in one lump sum (without interest). 

  
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 SES Holdings Pte. Ltd.

 

 Except as otherwise expressly provided herein, to the extent any expense reimbursement or the
provision of any in-kind benefit under this Agreement (or otherwise referenced herein) is determined to be subject to (and not exempt from) Section 409A of the Code, the amount of any such expenses
eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to be provided in any other calendar year,
in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. 
 To the extent that any
provision of this Agreement is ambiguous as to its exemption or compliance with Section 409A, the provision will be read in such a manner so that all payments hereunder are exempt from Section 409A to the maximum permissible extent, and
for any payments where such construction is not tenable, that those payments comply with Section 409A to the maximum permissible extent. To the extent any payment under this Agreement may be classified as a “short-term deferral”
within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A. 

Payments pursuant to this Agreement (or referenced in this Agreement) are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the regulations under Section 409A. 
 12. Choice of Law. This
Agreement and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without giving effect to the principles of conflict of laws. 

 

	
	Sincerely,
	
	SES Holdings Pte. Ltd.
	
	 /s/ Qichao Hu

	Qichao Hu
	CEO

  
 5 

			
	 

  
	  	  
 SES Holdings Pte. Ltd.

 

	
	Agreed and Accepted by
	
	 /s/ Joanne Ban Shiang Mei

	Joanne Ban Shiang Mei
	
	Date: 3/24/21

  
 6EX-10.10

 Exhibit 10.10 

 

			
	 

	 	 SolidEnergy Systems Corporation

   35 Cabot Road, Woburn, MA 01801

 July 1, 2018 

Hong Gan 
  

	 	Re:	 Employment as Director of R&D 

Dear Hong: 
 Welcome to SolidEnergy! 

I am pleased to confirm the terms on which you will be employed by SolidEnergy Systems Corp. (the “Company”). 

Position. You will serve as Director of R&D of the Company reporting directly to Mackenzie King, Vice President of Product Development. Your duties
initially will include, but not be limited to: 
  

	 	•	 	 leading the electrolyte, anode and cathode research groups 

 

	 	•	 	 developing a technology roadmap, incorporating both performance and safety attributes to enable near-term product
development and innovation 

  

	 	•	 	 drive results in fast paced environment through close teamwork with the Cell Engineering and Manufacturing Teams
and our external vendors as required 

 As a full-time employee of the Company, you will be expected to devote your full
business time and energies to the business and affairs of the Company. Your office will be located at 35 Cabot Road, Woburn, MA 01801. 
 2.
Starting Date. It is expected that your employment will begin on Monday, September 17, 2018 (the “Start Date”). 
 3.
Base Salary. As an employee of the Company, you will be paid a salary at a rate of $230,000 per annum. Such salary will be payable in accordance with the Company’s normal payment schedule for its employees, which is monthly and on the
last Friday of every month. 
 4. Performance Bonus Compensation. During your employment, you may be considered annually for a
performance bonus. Performance bonus compensation in any year, if any, will be determined by the Board of Directors of the Company (the “Board”) based on your performance and that of the Company, relative to milestones to be agreed upon
between you and your hiring manager, Mackenzie King, and otherwise in accordance with a general employee bonus program. The Performance Bonus cash compensation is expected to be up to 20% of your Base Salary at the end of your first year on
September 4, 2019. 

  
 1 

			
	

	 	 SolidEnergy Systems Corporation
 35 Cabot
Road, Woburn, MA 01801

  

 5. Equity Compensation. At the next regular meeting of the Board following the Start
Date, it is anticipated that you will be awarded a grant of options to purchase 100, 000 shares of the common stock of the Company (“Common Stock”) at a purchase price equal to the fair market value of the Common Stock, as determined by
the Board, subject to the terms of the Company’ s standard form of incentive stock option agreement. You will receive such stock options only if you execute and deliver all stock option agreements, signature pages and other documents that the
Company requests in connection with your grant and the foregoing grant will become effective only following such execution and delivery. The grant will be subject to vesting as follows: 25% of the shares shall vest on the fust anniversary of
the grant, provided you are employed by the Company on that date, and the remainder shall vest pro ratably, on a monthly basis, over the following 36 months following the first anniversary of the grant, provided that you remain in the Company’
s employ at each such vesting date. 
 6. Benefits; Vacation; Withholding. You will be entitled to participate in health, insurance,
pension, and other benefits provided to other executives of the Company of similar seniority on terms no less favorable than those available to such executives of the Company generally. Your participation will be subject to the terms of the
applicable plan documents and generally applicable Company policies. The Company retains the right to change, add or terminate any particular benefit. 

If you are moving from outside of Massachusetts, you will be entitled to receive one-time relocation
reimbursement of up to $50,000, if you relocate within the first 3 years of your employment. You may use up to $10,000 of relocation assistance mentioned above, for initial expenses within the first 3 years to include lodging. 

You will also be entitled to get reimbursed on actuals up to $800 per month for your commuting costs to Woburn. 

You will be entitled to earn vacation in accordance with the Company’ s policies from time to time in effect, in addition to holidays
observed by the Company, subject to a minimum entitlement of 4 weeks vacation and 10 paid holidays per year. Vacation may be taken at such times and intervals as you shall determine, subject to the business needs of the Company, and otherwise shall
be subject to the policies of the Company, as in effect from time to time. 
 You understand that the Company will deduct from any payments
it otherwise is to make to you pursuant to the terms of this letter agreement or otherwise any withholding taxes and other deductions required by law. 

  
 2 

			
	

	 	 SolidEnergy Systems Corporation
 35 Cabot
Road, Woburn, MA 01801

  

 7. At-Will Employment. 

(a) Your employment with the Company is an “at-will” employment and may be terminated by either party at any time for
any reason, with or without cause, without notice and without any further compensation. 
 (b) Except for any right you may
have under applicable law to continue participation in the Company’ s group health and dental plans under COBRA, or any successor law, benefits shall terminate in accordance with the terms of the applicable benefit plans based on the date of
termination of your employment or the last day of the severance period, whichever occurs later. 
 (c) Vesting of any
restricted stock or stock options, which the Company may have granted to you, shall cease immediately upon any termination of your employment with the Company for any reason . 

(d) Provisions of this letter agreement shall survive any termination if so provided in this letter agreement or if necessary
or desirable to accomplish the purposes of other surviving provisions , including, without limitation , your obligations under the Confidentiality , Assignment of Intellectual Property and Noncompetition Agreement, which you will execute as a
condition of your employment under this letter agreement. 
 8. Conditions to Employment. You agree that the following items are
conditions to your employment with the Company: 
 (a) The Immigration Reform and Control Act of 1986 requires employers to
verify the employment eligibility and identity of new employees by requiring such employees to complete an Employment Eligib ility Form I-9 This offer of employment is contingent upon compliance with the Immigration Act of 1986. 

(b) Your execution and delivery of the enclosed Employee’ s Confidentiality, Assignment ofintellectual Property and
Noncompetition Agreement. 
 (c) Satisfactory completion of reference and background checks 

(d) Successful license application or ce1iification for expo1i control purposes if appropriate 

(e) You agree to keep the existence of this agreement, and the terms of this agreement, highly individual and confidential.

 This offer of employment will expire on July 5, 2018, unless accepted by you prior to such date. 

  
 3 

			
		 	 SolidEnergy Systems Corporation
 35 Cabot
Road, Woburn, MA 01801

  

 We look forward to your service with the Company and are pleased that you will be working
with us. 
  

					
		 		  	            Sincerely,
			
	Agreed and Accepted by	 	                	  	SolidEnergy Systems Corp.
			
	 /s/ Hong Gan
	 		  	 /s/ Qichao Hu

			
	Hong Gan	 		  	Qichao Hu
			
	Date: July 4, 2018	 		  	President and CEO

  
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