Document:

EX-10.14

 Exhibit 10.14 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF
PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 
 AGREEMENT BETWEEN FORD MOTOR COMPANY AND SOLID POWER
INCORPORATED FOR THE JOINT DEVELOPMENT OF SOLID STATE BATTERIES FOR AUTOMOTIVE APPLICATIONS 
 THIS AGREEMENT (“Agreement”) is entered into by
and between Ford Motor Company, a corporation organized and existing under the laws of the State of Delaware, having offices at the American Road, Dearborn, Michigan 48121 (hereafter “Ford”), and Solid Power, Inc., having offices at 486 S.
Pierce Ave., Suite E, Louisville, Colorado 80027 (hereafter “Solid Power”). Ford and Solid Power may sometimes hereinafter be individually or collectively referred to as “Party” or “Parties” respectively. 

Solid Power has developed, acquired, and is currently developing and/or acquiring technology relating to solid state battery cells having a sulfide-based
solid electrolyte, a metallic lithium anode, and a solid-state cathode, in addition to other chemistries and components (“Cells”). 
 Ford has
developed, acquired and manufactured technology relating to [* * *] batteries for automotive vehicles, and is currently doing same. 
 Solid Power and Ford
have participated in discussions and contemplate on-going collaborative efforts to assess, develop, manufacture, and/or market solid state Cells for automotive applications integrating Solid Power technology and Ford technology. As such, the Parties
wish to memorialize their intentions regarding the rights and obligations with respect to the collaborative efforts and with respect to inventions developed pursuant to such collaborative efforts. 

The Parties to this Agreement agree as follows: 
 ARTICLE 1
DEFINITIONS 
 “Affiliate” means, with respect to a Party, any corporation, firm, partnership, individual or other form of business
organization which controls or is controlled by such Party, but only so long as such control exists. An entity or individual shall be regarded as in control of another corporation or other entity if it owns or directly or indirectly controls at
least twenty-five percent (25%) of the voting stock of the other corporation, or in the absence of ownership of at least twenty-five percent (25%) of the voting stock of a corporation, if it possesses, directly or indirectly, the power to direct or
cause the direction of the management of the corporation. Ford Affiliates shall not include any cell manufacturer, cell material manufacturer or direct competitor of Solid Power. 

“Confidential Information” is defined in the Non-Disclosure Agreement between the parties dated March 2, 2018. 

“Background Technology” means Technology conceived, created, developed or reduced to practice by a Party or an Affiliate of the Party [* * *]
Background Technology may also include Technology developed [* * *], but subsequently incorporated as part of or discussed in conjunction with the project methodology or deliverables. 

 “Effective Date” means the date this Agreement is signed by both Parties. 

“Foreground Technology” means Technology first conceived, created or developed by one or both Parties during [* * *], excluding Background
Technology. 
 “Intellectual Property Rights” mean patents, trade secrets, copyrights, utility patents, mask work rights, and the like, but
specifically excluding trademarks, service marks, trade dress, trade names, and design patent rights. 
 “Joint Technology” means [* * *]
developed jointly by the Parties’ employees and/or retained consultants. 
 “Project” is the work agreed by the Parties to develop
solid state Cell technology for automotive applications, as outlined in Attachment A. 
 “Sole Foreground Technology” means [* * *]
developed solely by one of the Parties’ employees and/or retained consultants without assistance from the other Party. 
 “Technology”
means all trade secrets, know-how, designs, engineering and test data, manufacturing methodology, software, algorithms, discoveries, inventions, processes, and other technical information, whether or not
registered. 
 ARTICLE 2 JOINT DEVELOPMENT 
 2.1 The Parties
have prepared an initial description of the Project, the duties of each Party under the Project, the anticipated deliverables and schedule for completion of such duties and deliverables in Attachment A. The Parties may amend Attachment A in a
writing signed by both Parties. 
 2.2 Each Party shall bear all of its own fees, expenses, and/or costs of any kind hereunder unless expressly noted herein
to the contrary or otherwise agreed to in writing by both Parties. 
 2.3 Each Party shall designate a project manager for the Project to oversee the joint
development work. 
 2.4 All testing to be performed on materials or samples provided by Solid Power to Ford during the Project [* * *] will be agreed upon
in writing by the Parties prior to shipment, including but not limited to any testing performed by [* * *]. All testing shall be performed at U.S. facilities unless otherwise permitted by Solid Power. 

ARTICLE 3 OWNERSHIP AND RIGHTS RELATING TO INTELLECTUAL PROPERTY 

3.1 Background Technology. No licenses to the Background Technology of either Party are granted unless otherwise specifically stated herein. 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 2 

 3.2 Foreground Technology. Foreground Technology, including all associated Intellectual Property
Rights, shall be assigned and/or licensed between the Parties as follows: 
  

	 	(a)	 The Parties shall jointly own all Intellectual Property Rights to Joint Technology. [* * *] Each Party shall
solely own all modifications and derivative works to the Joint Technology that it creates after the Term, without any disclosure, financial or cross-license obligation to the other Party.

  

	 	(b)	 Sole Foreground Technology shall be solely owned by the Party that created it. 

 

	 	(c)	 Both parties may use the other party’s Intellectual Property Rights in Sole Foreground Technology solely
for the purpose of advancing the goals of the Project during the term of this Agreement. 

  

	 	(d)	 [* * *] 

  

	 	(e)	 The Parties agree to work in good faith to classify Foreground Technology into an appropriate category (Sole
Foreground Technology, Joint Technology). Inventorship of inventions and authorship of copyrightable works conceived and/or reduced to practice, or authored, under this Project (i.e., sole or joint) shall be determined in accordance with the patent
and copyright laws of the United States, as the case may be. 

 3.3 For the avoidance of doubt, the parties agree that the results of the
efforts by either party under this Agreement shall not be considered “work for hire”, and that neither Party acquires any rights to, or licenses to use, any such results except as expressly set forth in this Agreement. Moreover, the
Parties agree that this Agreement is non-exclusive, and that each Party has and will continue to perform battery cell development internally and with other partners, including other automotive manufacturers, universities, research entities, battery
manufacturers, and other start-ups, and the intellectual property resulting from those efforts will not be Foreground Technology unless it is only and solely developed under this Agreement. 

3.4 Commercial Procurement Process. Both parties agree that the ultimate objective of the Project is to advance Solid Power’s Technology for
integration into Ford’s electric vehicle platform. To this end, Ford and Solid Power, or a Solid Power licensee, may enter into negotiations to initiate a commercial procurement process. The procurement process will begin no later than [* * *]
after the following [* * *]: 
  

	 	(i)	 an automotive cell product [* * *] has been demonstrated [* * *], meeting Ford’s performance and safety
standards and 

  

	 	(ii)	 upscaling of [* * *] of said product or identification of [* * *], sufficient for [* * *]

 [* * *] 
  

	 	(a)	 If Solid Power [* * *]. 

 

	 	(b)	 If Solid Power, [* * *] 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 3 

	 	(c)	 If Solid Power [* * *] 

 

	 	(d)	 [* * *] 

ARTICLE 4 PATENT FILING AND PROSECUTION 
 4.1 The Parties agree
to take reasonable actions necessary to vest in each other in their respective rights in the Foreground Technology, including licenses of rights and execution of documents. The Parties agree that the costs attendant to such actions shall be borne by
the requesting Party. Further, the Parties recognize that the nature of the Project may give rise to Joint Inventions which may require cooperation (including filing strategy and cost sharing) between the Parties to register. The Parties agree to
use their reasonable efforts to support each other in perfecting rights in Foreground Technology. Any inventor remuneration, if applicable, shall be the sole responsibility of the Party for which the inventor worked at the time of invention. No
Party may file a patent application disclosing a jointly created invention or file a copyright registration on any Joint Technology without the prior written consent of the other Party. 

4.2 At least thirty (30) days prior to either Party filing any patent application conceived hereunder and as part of the Project, the Party desiring to
file such an application shall provide the other Party with a copy of the proposed application. The Party receiving the copy of the proposed application shall then have thirty (30) days to notify the Party desiring to file as to whether it
believes that any of its Confidential Information is disclosed or if the invention is its own sole intellectual property or Joint Intellectual Property. If the application contains any of the other Party’s Confidential Information, then the
Party desiring to file the patent application shall either: (a) delete such Confidential Information from the application prior to filing, or (b) where disclosure of such Confidential Information in the patent application is necessary to
comply with the statuary requirements of any country in which the application will be filed, not file such application without the prior written permission of the Party owning such Confidential Information. 

ARTICLE 5 WARRANTIES AND REPRESENTATIONS 
 5.1 The Parties
warrant that they have no agreements with any third party or commitments or obligations that materially conflict with its obligations under this Agreement. During the term of this Agreement, neither Party will enter into any agreement, commitment or
obligation that materially conflicts with its obligations under this Agreement. 
 5.2 The Parties warrant that they have or will obtain from its employees,
agents and consultants who perform work in accordance with the Project a valid and sufficient written agreement vesting ownership of all their discoveries, improvements and ideas in them. 

5.3 The Parties represent that they will use reasonable efforts to satisfy their respective duties and provide the deliverables for the Project. 

ARTICLE 6 CONFIDENTIALITY 
 6.1 The Parties signed a Non-Disclosure Agreement dated March 2, 2018. The terms of that Agreement shall govern any Confidential Information disclosed pursuant to this Agreement. Confidential Information includes [* * *]. 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 4 

 ARTICLE 7 TERM AND TERMINATION 

7.1 The Project shall commence on the Effective Date and, unless earlier terminated in accordance with the terms of this Agreement, will continue
[* * *]. However, this Agreement may be extended for additional period(s) by written consent of both Parties. Notwithstanding the previous sentence, the obligations and rights that accrued in this Agreement shall survive the termination or
expiration of this Agreement, including without limitation [* * *]. 
 7.2 Either Party may terminate this Agreement without cause upon [* * *]
written notice to the other Party. 
 ARTICLE 8 DISCLAIMERS 

8.1 NEITHER PARTY SHALL UNDER ANY CIRCUMSTANCES BE LIABLE TO EACH OTHER OR THEIR RESPECTIVE AFFILIATES FOR INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL
DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOSS OF PRODUCTION TIME, PROFITS, REVENUE, OR BUSINESS) RESULTING FROM OR IN ANY WAY RELATED TO THIS AGREEMENT, OR THE TERMINATION OF THIS AGREEMENT, OR ARISING OUT OF OR ALLEGED TO HAVE ARISEN OUT OF
(I) BREACH OF THIS AGREEMENT, (II) THE FAILURE BY EITHER PARTY TO DEVELOP ANY PRODUCTS OR PROCESSES IN ACCORDANCE WITH THE PROJECT, (III) THE FAILURE BY ANY PARTY TO DEVOTE THE RESOURCES SPECIFIED IN A PROJECT DESCRIPTION,
(IV) THE FAILURE BY ANY PARTY TO COMPLY WITH THE EXPRESS CONDITIONS SPECIFIED IN THE JOINT DEVELOPMENT PROGRAM, OR (V) ANY EVENT RELATED TO THE CONDUCT OF THE PROJECT. THIS LIMITATION APPLIES REGARDLESS OF WHETHER SUCH DAMAGES ARE SOUGHT
BASED ON BREACH OF CONTRACT, NEGLIGENCE, OR ANY OTHER LEGAL THEORY. 
 8.2 Neither Party warrants nor represents that any product, apparatus or process
conceived, developed or used in accordance with the Project does not infringe any intellectual property rights of any third party. Each Party will, however, notify the other Party promptly if a Party has a reasonable basis for believing that any
such product or process would infringe any intellectual property right of a third party. 
 ARTICLE 9 MISCELLANEOUS 

9.1 The validity, construction and performance of this Agreement shall be governed by and interpreted in accordance with the laws of the State of Michigan,
without regard to its provisions on the conflicts of laws. Venue for any dispute shall be in the state or federal courts of Michigan. 
 9.2 All notices
required or permitted under this Agreement shall be in writing and shall be deemed to be given (i) when personally delivered, or (ii) five days after mailing when mailed by registered or certified mail, postage prepaid, and addressed as
follows: 
  

			
	To Ford Motor Company. Attn:	  	Ted Miller, Research Manager
		
		  	Ford Motor Company
		
		  	[* * *]
		  	Dearborn, Michigan 48124
		
		  	Facsimile: [* * *]

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 5 

			
	with a copy to:	  	President
		
		  	Ford Global Technologies, LLC
		
		  	Suite 800 South, 330 Town Center Drive
		
		  	Dearborn, MI 48126
		
		  	Facsimile: [* * *]
		
	To Solid Power, Inc. Attn:	  	Josh Buettner-Garrett – CTO
		
		  	Solid Power Inc.
		
		  	486 S. Pierce Ave., Suite E
		
		  	Louisville, CO 80027
		
	with a copy to:	  	President
		
		  	Solid Power Inc.
		
		  	486 S. Pierce Ave., Suite E
		
		  	Louisville, CO 80027

 Any changes of address of a Party shall be promptly communicated in writing to the other Party. 

9.4 Either Party may assign its rights and obligations under this Agreement to a third party that has the financial ability to comply with the assigning
Party’s obligations under this Agreement (including but not limited to the assigning Party’s indemnity obligations), but only in connection with a complete transfer to the third party of the business to which this Agreement pertains. The
assigning Party will so inform the other Party to this Agreement without delay of any assignment made in accordance with the conditions of this Agreement. This Agreement shall not otherwise be assignable by either Party without the prior written
consent of the other Party. No assignment shall relieve any Party of responsibility for the performance of any accrued obligation which such Party then has hereunder. 

9.5 This Agreement including the Attachment 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 purpose of this Agreement. 
 9.6 This Agreement may not be modified, amended, or
discharged except as expressly stated in this Agreement or by a written agreement signed by an authorized representative of each Party. 
 9.7 The
provisions of this Agreement shall be deemed separable. If any provision in this Agreement shall be found or be held to be invalid or unenforceable, then the meaning of that 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 6 

 
provision shall be construed, to the extent feasible, to render the provision enforceable, and if no feasible interpretation would save such provision, it shall be severed from the remainder of
this Agreement, which shall remain in full force and effect unless the provisions that are invalid or unenforceable substantially impair the value of the entire Agreement to either Party. In such event, the Parties shall use their respective
reasonable efforts to negotiate a substitute, valid, and enforceable provision which most nearly effects the Parties’ intent in entering into this Agreement. 

9.8 No waiver of any term, provision or condition of this Agreement whether by conduct or otherwise in any one or more instances shall be deemed to be or
construed as a further or continuing waiver of such term, provision or condition or of any other term, provision or condition of this Agreement. 
 9.9 This
Agreement shall bind the Parties, their successors, trustee in bankruptcy, and permitted assigns. 
 9.10 No Party shall be considered in default or be
liable to the other Party for any delay in performance or nonperformance caused by circumstances beyond the reasonable control of such Party, including but not limited to acts of God, explosion, fire, flood, war, whether or not declared, accident,
labor strike or labor disturbances, inability to procure supplies from third party vendors, sabotage, order or decrees of any court, or action of government authority. 

ARTICLE 10 Intentionally Left Blank 
 ARTICLE 11 DISPUTE
RESOLUTION 
 11.1 The Parties shall attempt in good faith to resolve any dispute arising out of or relating to this Agreement promptly by negotiation
between executives who have authority to settle the controversy and who are at a higher level of management than persons with direct responsibilities for administration of this contract. Either Party may give the other Party written notice of any
dispute not resolved in the normal course of business. Within fifteen (15) days after delivery of the notice, the receiving Party shall submit to the other a written response. The notice and the response shall include (i) a statement of
such Party’s position and a summary of arguments supporting the position, and (ii) the name and title of the executive who will represent the Party and any other person who will accompany the executive. Within thirty (30) days after
delivery of the disputing Party’s notice, the executives of both Parties shall meet at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary, to attempt to resolve the dispute. 

11.2 All negotiations pursuant to this Article are confidential and shall be treated as compromise and settlement negotiations for purposes of the Federal
Rules of Evidence and state rules of evidence. 
 11.3 If the Parties fail to resolve the dispute within forty-five
(45) days of a request by either Party for mediation, then either Party may pursue its remedies in State or Federal District Courts for the District of Michigan. 

[Signature Page Follows] 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 7 

  
 Joint Development
Agreement – Ford/Solid Power 
 Page 8 

 IN WITNESS WHEREOF, the Parties, through their respective duly authorized officers, have executed this
Agreement as of the dates set forth below to be effective as of the Effective Date. 
  

									
	Ford Motor Company	 		 	Solid Power, Inc.
					
	By	 	 /s/ Kenneth Washington
	 		 	By	 	 /s/ Douglas Campbell

	Title	 	VP, Research & Adv Engr & CTO	 		 	Title	 	
	Date	 	Dec-14-2018	 		 	Date	 	December 28, 2018

  
 Joint Development
Agreement – Ford/Solid Power 
 Signature Page 

 ATTACHMENT A 

[* * *] 

  
 Joint Development
Agreement – Ford/Solid Power 
 Attachment A Page 1EX-10.15

 Exhibit 10.15 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF
PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 
  

			
	

	  	Execution Version

 May 5, 2021 
 Ford Motor
Company 
 American Road 
 Dearborn, Michigan
48121 
 Re:    Series B Preferred Stock Financing Letter Agreement 

Ladies and Gentlemen: 
 In connection with the
proposed sale and issuance of shares of Series B Preferred Stock (the “Financing”) of Solid Power, Inc., a Colorado corporation (the “Company”, “Solid
Power” or “SP”), to Ford Motor Company, a Delaware corporation (“Ford”), pursuant to the terms and conditions of a Series B Preferred Stock
Purchase Agreement, dated of even date herewith (the “Effective Date”), by and among the Company, Ford and certain other investors party thereto (the “Purchase Agreement”),
the Company and Ford hereby agree that, contemporaneous with the Initial Closing, Ford shall be entitled to the following contractual rights, in addition to any other rights specifically provided to Ford in connection with the Financing
pursuant to and in accordance with the Purchase Agreement and the other agreements entered into in connection therewith. Capitalized terms used but not otherwise defined in this letter agreement (this “Agreement”)
shall have the meanings ascribed to such terms set forth in the Purchase Agreement. 
 For the purposes of this Agreement: 

“Affiliate” means any Person controlled by, controlling or under common control with the Company or Ford.
For purposes of this definition, “control” of a Person means the power, direct or indirect, to direct or cause the direction of the management and policies of such Person whether by law, ownership of securities, contractual, or otherwise;
and the terms “controlling” and “controlled” shall have the meanings correlative to the foregoing. 

“Nomination Right Sunset Date” means the earlier to occur of [* * *], or the occurrence of a Deemed
Liquidation Event (as defined in the Company’s Articles of Incorporation) following a Public Company Event. 

“Person” means an individual, corporation, partnership, joint venture, limited liability company,
unincorporated organization, trust, association or other entity. 
 “Public Company Event” means
(i) a business combination between the Company and a special purpose acquisition company that is registered under the Securities Act of 1933, whose assets 

  
 500 S. Arthur Ave, Suite
300 • Louisville, CO 80027 • ww.solidpowerbattery.com 
 Solid Power Company Confidential 

 
consist solely of cash and cash equivalents and formed for the purpose of acquiring an operating business, or (ii) the closing of the sale of the Company’s securities pursuant to a
registration statement filed by the Company under the Securities Act of 1933, as amended, in connection with the firm commitment underwritten offering of its securities to the general public. 

1.    Industrialization Agreement. The Company shall use best efforts according to the schedule provided in
Attachment A, or at a later date as determined jointly by Ford and the Company, to negotiate the terms of an industrialization agreement (the “Industrialization Agreement”) [* * *].
Execution of the [* * *] in good faith commercially reasonable [* * *] terms, and subject to any applicable regulatory approval or clearance. [* * *] The Company and Ford hereby agree to continue to operate under their existing agreement for
the joint development of solid state batteries for automotive applications, dated December 28, 2018 and as amended in Attachment A hereto (the “Ford JDA”), to collaborate on the Company’s
technology and product roadmaps [* * *]. This Agreement hereby extends the completion date provided in Article 7 of the Ford JDA to [* * *] (the “Ford JDA Completion Date”) and amends the original Attachment A
to the version attached hereto. 
 2.    [* * *] 

3.    [* * *] License to Ford. 

a.    [* * *] 

b.    [* * *] 

c.    The Company and Ford hereby agree that the sole purpose of the [* * *] is to enable Ford to
receive [* * *] 
 4.    [* * *] Agreement. In accordance with this Section 1
and the Ford JDA, the Company shall use best efforts to engage Ford, its Affiliates, or [* * *] 

5.    Additional Covenants. 

a.    [* * *] 

b.    Sections 3(b) and 3(c) of that Series A-1 Preferred Stock Side Letter dated
December 28, 2018, are hereby amended and restated in their entirety, as follows: 

(b)    Board Observer Rights. Until the Nomination Right Sunset Date, the Company shall
invite one (1) representative of the Investor (a “Representative”), to attend all meetings of the Board and committees of the Board, in a nonvoting observer capacity and, in this respect, shall give the Representative
copies of all notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company reserves the right to exclude the Representative from access to any material or meeting or portion thereof if
the Company reasonably believes that such exclusion is necessary for competitive reasons or to preserve the attorney-client privilege. The Investor shall treat all information it learns through its rights as confidential. The foregoing requirements
of confidentiality shall not apply to information that (i) through 

  
 2 

 
no fault of the Investor or the Representative, prior to or after the time of disclosure becomes part of the public knowledge; (ii) is pre-approved
for release in writing by the Company; (iii) was or is developed by or for the Investor by employees or agents of the Investor who had not been exposed to such confidential information; or (iv) was or is rightfully received by the Investor
from a third party under no obligation of confidentiality to the Company. 

(c)    Termination. The Investor’s rights under this Section 3
shall terminate and be of no further force or effect upon the earlier of (i) as to such Investor, such time as less than [* * *] shares of Preferred Stock (or any security issuable or issued upon conversion or exchange thereof) (as
appropriately adjusted for stock splits, stock dividends, recapitalizations, reclassifications, reorganizations, combinations and the like) of the Company are held by such Investor or its affiliates; (ii) [* * *]; (iii) the date of the closing of a
Change of Control, if such closing occurs prior to a Public Company Event; (iv) as to such Investor, notice from such Investor that it relinquishes such rights; or (v) as to such Investor, as otherwise agreed by such Investor and the
Company. The Investor’s obligations under this Section 3 shall terminate [* * *] after such Investor no longer has such rights pursuant to the terms of this Agreement or separate agreement or the parties, or after notice from such Investor
that it relinquishes such rights. 
 6.    Confidentiality. The existence of this Agreement and the
contents herein are strictly confidential and cannot be shared with anyone without the prior written consent of the non-disclosing party, unless required by law and subject to advance notice by the disclosing
party with respect to such law. 
 7.    Publicity. In connection with the Financing, Ford and the Company
shall issue a press release approved by both parties announcing the parties’ joint development initiative, provided, either Party, without the prior written consent of the other Party, may not use the other Party’s name, refer to
the other party directly or indirectly in connection with Ford’s relationship with the Company, or disclose any terms or other information included in this Agreement in any communications, advertisement, news release or professional or trade
publication, or in any other public manner, unless required by law (including, without limitation, any rule or regulation promulgated by the Securities Exchange Commission (“SEC”) or any other competent
regulatory authority), provided further, the Company may identify Ford as an investor in the Company to other potential investors in the Company. [* * *] 

8.    Notices. All notices and other communications given or made pursuant to this Agreement shall be in
writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, or (b) when sent, if sent by electronic mail during normal business hours of the recipient, and if not
sent during normal business hours, then on the recipient’s next business day. All communications shall be sent to the respective parties at their contact info as set forth on the signature page, or to such
e-mail address as subsequently modified by written notice given in accordance with this Section 7. 

  
 3 

 9.    Assignment. This Agreement may not be assigned in
whole or in part by any party without the prior written consent of the other party; provided that Ford may assign this Agreement in whole or in part to any of its Affiliate(s). 

10.    Term and Termination. This Agreement shall commence on the Effective Date and, unless earlier
terminated in accordance with the terms of this Agreement and the Ford JDA, will continue until [* * *]. Notwithstanding the previous sentence, the obligations and rights that accrued in this Agreement including the Company’s obligations with
respect to the [* * *] shall survive the termination or expiration of this Agreement, and be valid up to and until [* * *] are met in accordance with the Ford JDA [* * *] as provided for herein. 

11.    Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of Colorado, without regard to its conflict of law rules. The Parties acknowledge that the Industrialization Agreement and Licenses herein shall be conditional upon compliance with applicable laws and regulations. 

12.    Severability. If any provision of this Agreement shall be declared void or unenforceable by any
judicial or administrative authority, the validity of any other provision and of the entire Agreement shall not be affected thereby. 

13.    Amendment. This Agreement may not be amended or modified without the written consent of Ford and the
Company, nor shall any waiver be effective against any party unless in writing and executed by such party. 

14.    Counterparts. This Agreement may be executed in counterparts, including counterparts by portable
document format (pdf). 
 [Signature Page Follows] 

  
 4 

			
	Very truly yours,
	
	COMPANY:
	SOLID POWER, INC.
		
	By:	 	 /s/ David B. Jansen

	Name:	 	David B. Jansen
	Title:	 	President

 Email (for notice): [* * *] 
  

			
	AGREED AND ACCEPTED:
	
	FORD MOTOR COMPANY
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	
	Email (for
notice):                                       
                            

 [Signature Page to Series B Preferred Stock Financing Letter Agreement (Ford Motor
Company)] 

 Very truly yours, 
  

			
	COMPANY:
	
	SOLID POWER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Email (for notice): [* * *] 

 

			
	AGREED AND ACCEPTED:
	
	FORD MOTOR COMPANY
		
	By:	 	 /s/ Hau Thai-Tang

	Name:	 	Hau Thai-Tang
	Title:	 	Chief Product Platform and Operations Officer
	
	Email (for notice): [* * *]

 [Signature Page to Series B Preferred Stock Financing Letter Agreement (Ford Motor
Company)] 

 ATTACHMENT A 

[* * *] 

  
 A-1

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