Document:

EX-10.14

 Exhibit 10.14 

EXECUTION VERSION 
 INTELLECTUAL
PROPERTY AGREEMENT 
 This INTELLECTUAL PROPERTY AGREEMENT (this “Agreement”), dated as of January 12, 2021 (the
“Effective Date”), is made and entered into by and between Jiangsu Qingneng New Energy Technologies Co., Ltd., located at 302-309 Building A, New Environmental Materials Industrial Park, Huada
Road, Jingang Town, Zhangjiagang City, Jiangsu, People’s Republic of China (“Jiangsu Horizon”), its (as of the Effective Date) wholly-owned subsidiary, Shanghai Qingneng Horizon New Energy Ltd. (“Shanghai
Horizon” and, taken together with Jiangsu Horizon, “JS Horizon”), and Hyzon Motors Inc., located at 85 East Street, Honeoye Falls, NY 14475, United States (“Hyzon”). Each of JS Horizon and Hyzon may be
referred to individually in this Agreement as a “Party” and collectively as the “Parties.” All capitalized terms in this Agreement (including the Exhibits and Schedules hereto) shall have the meaning set forth in
Exhibit A, except as otherwise specifically provided herein. 
 WHEREAS, Hyzon and JS Horizon are, as of the Effective Date,
Controlled by the same ultimate parent and each specialize in the Exploitation of Fuel Cells for use in different technological and geographical applications; 

WHEREAS, the Parties contemplate a transaction or series of transactions whereby equity interests in one or both Parties will become owned by
unaffiliated third parties; and 
 WHEREAS, in contemplation of such transactions, the Parties wish to enter into this Agreement to govern
and clarify each Party’s ownership of, and respective rights and responsibilities under, the Background IP, Hyzon Patents and Improvements, and also for Hyzon to grant, and JS Horizon to receive, a perpetual license to the Hyzon Patents, in
each case, on the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing premises and the
covenants and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party, the Parties agree as follows: 

ARTICLE I 
 OWNERSHIP
AND ASSIGNMENT 
 Section 1.1    Joint Ownership and Assignment of Background IP. Each Party will
be, as of and following the Effective Date, an undivided joint owner of all right, title and interest in and to all Background IP. Each Party, on behalf of itself and its respective Affiliates, hereby makes, and agrees to make, all assignments under
all of its and its Affiliates’ respective right, title and interest in and to the Background IP as necessary to effectuate such undivided joint ownership interest in favor of each of the Parties. Other than as expressly set forth in this
Agreement (including the terms set forth in Article II), neither Party will have any duty to account, or any obligation to make any payment or seek consent (including in connection with licensing or enforcement), to Exploit any of its
respective joint ownership rights, or any products or services, under the Background IP. 

Section 1.2    Exclusive Ownership and Assignment of Hyzon Patents. Hyzon will, as of and following the
Effective Date, exclusively own all right, title and interest in and to the Hyzon Patents. JS Horizon, on behalf of itself and all other Horizon Entities, hereby assigns to Hyzon all of its and their respective right, title and interest (if any) in
and to the Hyzon Patents. 

 Section 1.3    Additional Patents. On or before
July 30, 2021, Power JV will become a wholly-owned Subsidiary of JS Horizon (such event, the “Entity Acquisition”). Effective only upon the Entity Acquisition, (a) JS Horizon, on behalf of itself and the Horizon Entities
(including, as of such time, Power JV), hereby assigns and agrees to assign to Hyzon an undivided joint ownership interest in and to the Additional Patents, and (b) such Additional Patents will thereafter be Background IP and subject to the
terms of this Agreement as such. The assignment contemplated in this Section 1.3 is referred to herein as the “Additional Patent Assignment.” 

ARTICLE II 
 RIGHTS
AND RESTRICTIONS IN BACKGROUND IP & HYZON PATENTS 
 Section 2.1    Hyzon License and
Exclusivity. 
 (a)    Subject to the terms and conditions set forth in this Agreement, JS Horizon, on behalf of
itself, Power JV and any applicable Horizon Entities, hereby grants to Hyzon a perpetual, irrevocable, fully sublicensable (solely within the scope of the Hyzon Field), non-transferable (except as set forth in
Section 5.4) license under the Horizon Improvements, the Additional Patents (prior to consummation of the Additional Patent Assignment) and JS Horizon’s (and, to the extent applicable, any other Horizon Entity’s) joint
ownership interest in the Background IP to Exploit (i) standalone Mobility Fuel Cells anywhere in the world, but only for use in Mobility Products that are Commercialized outside of Asia, Africa and South America, and (ii) Mobility Products
anywhere in the world, and Fuel Cells as incorporated into, or as replacement parts in connection with the servicing of, Mobility Products to be sold or leased by or on behalf of any Hyzon Entity anywhere in the world (such Exploitation as described
in clauses (i) and (ii), the “Hyzon Field”). The foregoing license will be exclusive (even as to JS Horizon, the Horizon Entities and Power JV and any of their applicable successors in interest) with respect to the Horizon
Improvements, the Additional Patents and JS Horizon’s (or any other applicable Horizon Entity’s) joint ownership interest in the Background IP. 

(b)    JS Horizon shall not, and shall cause the other Horizon Entities and Power JV not to, without prior written consent
from Hyzon, Commercialize, or license or authorize any other Person to Commercialize, directly or indirectly, any of the following that incorporate or are covered by any Background IP, Horizon Improvements, Additional Patents (prior to consummation
of the Additional Patent Assignment), Hyzon Patents or Hyzon Patent Improvements: (i) standalone Mobility Fuel Cells anywhere in the world, other than for use in Mobility Products to be sold or leased for use solely within Asia, Africa or South
America; (ii) Mobility Products anywhere in the world; or (iii) standalone Fuel Cells to any Person that JS Horizon, the applicable other Horizon Entity or Power JV knows, following reasonable inquiry, intends to incorporate (or permit
others to incorporate) such Fuel Cells into Mobility Products to be sold or leased for use outside of Asia, Africa and South America. For clarity, nothing in this Section 2.1 restricts Horizon, any other Horizon Entities or Power JV from
Exploiting products or services within the Horizon Field. 

  
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 (c) Notwithstanding the restrictions on transfer set forth in Section 2.1(a),
Hyzon may pledge this Agreement as collateral in connection with any loan, credit facility, or other debt financing involving Hyzon or the Hyzon Entities. 

Section 2.2    JS Horizon License and Exclusivity. 

(a) Subject to the terms and conditions set forth in this Agreement, Hyzon hereby grants to JS Horizon a perpetual, irrevocable, fully
sublicensable (solely within the scope of the Horizon Field), non-transferable (except as set forth in Section 5.4) license under the Hyzon Patents, the Hyzon Improvements and Hyzon’s joint
ownership interest in the Background IP to Exploit (i) Non-Mobility Fuel Cells anywhere in the world, other than for incorporation into Mobility Products to be sold or leased solely outside of Asia,
Africa and South America, and (ii) Mobility Fuel Cells to third parties, but only for incorporation into Mobility Products to be Commercialized in Asia, Africa or South America (such Exploitation described in clauses (i) and (ii), the
“Horizon Field”). The foregoing license will be (y) exclusive (even as to Hyzon and the Hyzon Entities or any of their applicable successors in interest) with respect to the Hyzon Background Improvements and Hyzon’s joint
ownership interest in the Background IP and (z) non-exclusive with respect to the Hyzon Patents and Hyzon Patent Improvements. 

(b) Hyzon shall not, and shall cause the Hyzon Entities not to, without prior written consent from JS Horizon, Commercialize, or license or
authorize any other Person to Commercialize, directly or indirectly, any of the following that incorporate or are covered by any Background IP, Additional Patents (prior to consummation of the Additional Patent Assignment) or Hyzon Background
Improvements: (i) Non-Mobility Fuel Cells anywhere in the world; or (ii) Fuel Cells to any Person that Hyzon or the applicable Hyzon Entity knows, following reasonable inquiry, intends to incorporate
(or permit others to incorporate) such Fuel Cells into Mobility Products to be sold or leased in Asia, Africa or South America. For clarity, nothing in this Section 2.2 restricts Hyzon or any Hyzon Entities from Exploiting products or
services within the Hyzon Field. 
 (c) Notwithstanding the restrictions on transfer set forth in Sections 2.2(a) and
2.2(b), JS Horizon may pledge this Agreement as collateral in connection with any loan, credit facility, or other debt financing involving JS Horizon or the Horizon Entities. 

Section 2.3    IP Enforcement. 

(a) Hyzon will have the exclusive right to bring any Action for any past, present or future infringement of the Hyzon Patents and any Hyzon
Patent Improvements throughout the world. JS Horizon shall, and shall cause any other applicable Horizon Entities to, reasonably cooperate with respect to any such Action at Hyzon’s request and expense, including by joining any such Action as a
party to the extent reasonably requested by Hyzon and reasonably necessary to bring or maintain such Action. 
 (b) As between the Parties:
(i) Hyzon will have the right, but not the obligation, to institute and control any Action against any Person for infringement, misappropriation, or violation of any Background IP, Hyzon Background Improvements, Horizon Improvements or
Additional Patents (prior to consummation of the Additional Patent Assignment), in each case, to the extent 

  
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within the Hyzon Field (which, for the avoidance of doubt, includes any Action for any past, present or future infringement with respect to any Mobility Products anywhere in the world); and
(ii) JS Horizon will have the right, but not the obligation, to institute and control any Action against any Person for infringement, misappropriation, or violation of any Background IP, Hyzon Background Improvements, Horizon Improvements or
Additional Patents (prior to consummation of the Additional Patent Assignment), in each case, to the extent within the Horizon Field. For any Action described in clause (i) above, JS Horizon shall, and shall cause any other applicable Horizon
Entities to, reasonably cooperate with such Action at Hyzon’s request and expense, including by joining any such Action as a party to the extent required by applicable Law. For any Action described in clause (ii) above, Hyzon shall, and
shall cause any other applicable Hyzon Entities to, reasonably cooperate with such Action at JS Horizon’s request and expense, including by joining any such Action as a party to the extent required by applicable Law. 

(c)    Each Party shall, at least fifteen (15) days (or, in the case of Actions likely to cause immediate irreparable
harm, as promptly as reasonably practicable) before instituting any Action against any third party (other than any Hyzon Entity or Horizon Entity) that could reasonably be expected to include claims of infringement, misappropriation or violation of
Background IP, Hyzon Background Improvements, Horizon Improvements or the Additional Patents (prior to consummation of the Additional Patent Assignment) within both the scope of both the Hyzon Field and Horizon Field, provide written notice to the
other Party of its intent to institute such Action (including reasonable detail regarding the known or suspected activities of such other Person that are the basis of such first Party’s intended Action). Upon receipt of such notice, the other
Party shall have ten (10) days to provide the first Party with written notice of its wish to join such Action, whereupon the Parties shall negotiate in good faith with the intention of entering into a mutually acceptable joint litigation
agreement pursuant to which, among other things, the Parties will agree to the apportionment and allocation of applicable expenses, damages and other monetary remedies arising in connection with such Action. If such second Party does not provide
such written notice of its intent to join such Action, or responds that it does not wish to join such Action, then the first Party may continue with its Action pursuant to Section 2.3(b). 

(d)    Unless otherwise agreed between the Parties, the Party that institutes and controls an Action as permitted under
this Agreement will be entitled to all damages, settlement amounts and other remedies resulting from such Action. 

Section 2.4    IP Prosecution and Maintenance. 

(a)    Hyzon will have the exclusive right to file, prosecute, maintain and defend any and all Hyzon Patents and Hyzon
Improvements, and JS Horizon shall, at Hyzon’s request and cost, provide reasonable assistance in connection with Hyzon’s prosecution, maintenance and defense of any Hyzon Patents and Hyzon Improvements. 

(b)    JS Horizon will have the exclusive right to file, prosecute, maintain and defend any and all Horizon Improvements,
and Hyzon shall, at JS Horizon’s request and cost, provide reasonable assistance in connection with JS Horizon’s prosecution, maintenance and defense of any Horizon Improvements. 

  
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 (c)    Each Party will have joint responsibility and joint
decision-making authority to file, prosecute, maintain and defend all applications and registrations (including issued patents) included within the Background IP or the Additional Patents (prior to consummation of the Additional Patent Assignment);
provided that if any defense (including in connection with any inter partes review) arises as part of enforcement of the Background IP, such defense will be controlled by the Party who controls such enforcement pursuant to
Section 2.3. Unless otherwise agreed between the Parties, JS Horizon shall continue to pay all expenses and fees required to prosecute and maintain the Background IP or the Additional Patents (prior to consummation of the Additional
Patent Assignment) that are already issued or registered by, or subject to a pending application before, any Governmental Entity, and Hyzon shall pay one-half of any such out-of-pocket expense and fees upon a written invoice submitted by JS Horizon on an annual basis to Hyzon. If one Party desires to proceed with prosecution or maintenance of a patent or patent application and
the other Party does not desire to do so or is unwilling to pay its portion of the expenses, the declining Party will assign all of its rights in such patent or patent applications to the other Party subject to a perpetual, irrevocable non-exclusive license back to the declining Party, but otherwise subject to the restrictions applicable to such declining Party’s Exploitation of products and services as set forth in Section 2.1 or
2.2, as applicable. 
 (d)    Each Party shall promptly notify the other Party of any Action challenging the
validity, enforceability or ownership of any Background IP or the Additional Patents (prior to consummation of the Additional Patent Assignment), including any relevant information related to such claim (if and to the extent sharing such information
does not destroy attorney-client privilege with respect thereto). 
 Section 2.5    Improvements. As between
the Parties, all Hyzon Improvements will be owned exclusively by Hyzon, and all Horizon Improvements will be owned exclusively by JS Horizon. All such Improvements will be subject to the terms and conditions of this Agreement (including the
exclusive licenses and restrictions set forth in this Article II); provided that, for clarity, neither Party will have any obligation to disclose any of its Improvements or materials describing such Improvements to the other Party
unless otherwise agreed by separate written agreement (including, as applicable, in accordance with Section 2.6). 

Section 2.6    Future Joint Development. If and to the extent any Horizon Entities, on the one hand, and any
Hyzon Entities, on the other hand, intend to jointly develop any further Intellectual Property Rights (including any Improvements) after the Effective Date, the Parties shall enter into separate written agreement(s) governing each Party’s
rights in and with respect to any 
 Intellectual Property Rights developed or discovered in connection with such activities. 

Section 2.7    Further Assurances. Each Party shall, and shall use best efforts to procure that any necessary
Persons, promptly take any actions reasonably requested by the other Party in connection with the filing of any assignments or other documents necessary to perfect, and record with the United States Patent & Trademark Office or any foreign
counterparts thereof, the ownership of the Background IP, the Hyzon Patents, and Improvements as described under this Agreement. 

  
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 Section 2.8    Audit Rights.     

(a)    No more often than once in any calendar year, each Party may, through an independent, internationally recognized and
respected third-party auditor or such other third-party reasonably agreed between the Parties (the “Auditor”), have audited the other Party’s compliance with the terms and conditions of this Article II. The audited Party
shall provide the Auditor with access to all written agreements entered into by such Party or its Affiliates with customers, distributors, or resellers related to any products or services Commercialized by the audited Party or its Affiliates that
incorporate or otherwise Exploit the Background IP, Hyzon Patents, and Improvements, as applicable. All audits shall be performed during normal business hours and in compliance with the audited Party’s applicable written security
policies.     
 (b)    The Auditor shall, prior to having access to the audited Party’s
written agreements, be required to enter into a confidentiality agreement with both Parties, on terms and conditions reasonably acceptable to the Parties, that prohibits the (i) disclosure of the information obtained through such audit,
including to the Party that has requested the audit, and (ii) use of any such information, except, in the case of (i) or (ii), for disclosures and uses reasonably necessary for the limited purpose of conducting such audit and either
verifying the audited Party’s compliance or describing the scope of such Party’s non-compliance, if any, in a manner that is compliant with applicable law and that does not disclose the name of any
applicable customer, distributor or reseller of the audited Party or its Affiliates. Any information received by the auditing Party with respect to the agreements or business operations of the audited Party shall be treated as confidential
information, and may be used solely for the purpose of enforcing the auditing Party’s rights under this Agreement with respect to the audited Party’s non-compliance, if any. 

(c)    If an applicable audit finds that the audited Party has failed to comply with its obligations in Article II
in any material respect, the other Party may have conducted an additional audit (which will not be counted toward such Party’s right to conduct an audit once per calendar year) to verify that such
non-compliance has been corrected. All costs and expenses of an audit shall be at the expense of the Party requesting the audit, except for the costs and expenses associated with any additional audits
requested pursuant to the foregoing sentence, which shall be at the expense of the audited Party. 

Section 2.9    Transfers of Background IP. The restrictions, rights and obligations set forth in this
Article II will be deemed to run with the Intellectual Property Rights governed under this Agreement, including each Party’s (and any applicable Hyzon Entity’s or Horizon Entity’s) joint ownership interests in Background IP.
Any assignee or transferee of any part of a Party’s (or the applicable Hyzon Entity’s or Horizon Entity’s) joint ownership interest in Background IP shall acquire any such rights subject to the restrictions and obligations described
in this Article II, and the Party making such assignment or transfer shall ensure (and, if and as applicable, shall cause its applicable Horizon Entity or Hyzon Entity) that such assignee or transferee agrees, in a written agreement entered
into with the non-transferring and non-assigning Party, to be bound by this Article II with respect to the joint ownership interest that it acquires from such
assigning Party (or the applicable Hyzon Entity or Horizon Entity). 

  
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 ARTICLE III 

PAYMENT TERMS 

Section 3.1    Hyzon Payments. Hyzon shall pay to JS Horizon: (a) $1 million within ninety (90) days
following the Effective Date, and (b) $9 million on or before July 30, 2021 (such combined payments, for the avoidance of doubt, to equal $10 million in total).     

Section 3.2    Currency and Wire Transfer. All amounts payable to JS Horizon pursuant to this Agreement shall
be made in U.S. Dollars or other currency agreed between the Parties by wire transfer to an account designated in writing by JS Horizon. 

ARTICLE IV 
 TERM AND
TERMINATION 
 Section 4.1    Term. This Agreement is effective as of the Effective Date and will
continue for as long as there continues to exist any Background IP or Hyzon Patents. 
 Section 4.2    No Other
Termination. The licenses, rights and restrictions set forth in this Agreement with respect to Background IP, Improvements and Hyzon Patents are perpetual and irrevocable. 

ARTICLE V 
 GENERAL
PROVISIONS 
 Section 5.1    Entire Agreement. This Agreement (including any Exhibits hereto),
constitute the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all other prior agreements, understandings, representations and warranties both written and oral, between the Parties, with respect to the
subject matter hereof. 
 Section 5.2    Reservation of Rights. Except as expressly set forth in this
Agreement, neither Party grants any license, covenant not to sue or other right under its Intellectual Property Rights to the other Party or any of its Affiliates, including by implication, estoppel, exhaustion or otherwise. All rights not expressly
granted are hereby reserved. 
 Section 5.3    Notices. All notices and other communications hereunder shall
be in writing and in English, and shall be deemed duly given (a) on the date of delivery if delivered personally, or if by e-mail, upon written confirmation of receipt by
e-mail or otherwise, (b) on the first (1st) business day in the receiving Party’s location following the date of dispatch if delivered utilizing a next-day
service by a recognized next-day courier or (c) on the earlier of confirmed receipt or the fifth (5th) business day in the receiving Party’s location following the date of mailing if delivered by
registered or certified mail, return receipt requested, postage prepaid. All notices hereunder shall be delivered to the addresses set forth below, or pursuant to such other instructions as may be designated in writing by the Party to receive such
notice: 

  
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	(i)        if to JS Horizon:	 	
	                        Address:	 	 Jiangsu Qingneng New Energy Technologies Co., Ltd.

302-309 Building A, New Environmental Materials

Industrial Park, Huada Road, Jingang Town,
 Zhangjiagang City,
Jiangsu

	                        Attention:	 	George Gu
	                        E-mail:	 	gg@horizonfct.com
		
	(ii)        if to Hyzon:	 	
	                        Address:	 	 Hyzon Motors Inc.
 10 Carriage Street

Honeoye Falls, NY 14472
 United States

	                        Attention:	 	Gary M. Robb, VP of Engineering
	                        E-mail:	 	gary.m.robb@hyzonmotors.com

 Section 5.4    Assignment. Neither Party may assign any of its rights or
delegate any of its obligations under this Agreement, whether directly or indirectly, without the prior written consent of the other Party; provided that each Party may assign this Agreement in whole, without the prior written consent of the
other Party, to any Person that acquires all or substantially all of the stock or assets of such Party; provided, further, that the assigning Party shall bind such acquiror Person, in a written agreement, to all applicable terms and
conditions of this Agreement as if such Person had entered into this Agreement in the place and stead of such assigning Party. Any attempted assignment or other transfer of this Agreement, in whole or in part, in violation of this
Section 5.4 shall be null and void ab initio. This Agreement shall be binding upon, and inure to the benefit of, the Parties to this Agreement and their respective successors and permitted assigns. 

Section 5.5    Governing Law. This Agreement and all disputes or controversies arising out of or relating to
this Agreement or the transactions contemplated hereby shall be governed by, and construed in accordance with, the internal Laws of New York. 

Section 5.6    Dispute Resolution. 

(a)    Each Party irrevocably agrees that any controversy, dispute, legal action, proceeding, or claim arising out of or
relating to this Agreement, or the breach thereof, shall be settled by binding arbitration in accordance with the Arbitration Rules of the International Chamber of Commerce International Court of Arbitration (“ICC”) in force on the date on
which the request for arbitration is submitted. The place of arbitration shall be New York, New York and the language of the arbitration shall be English. The number of arbitrators shall be three (3), one of whom shall be appointed by each of the
Parties and the third of whom shall be selected by mutual agreement of the co-arbitrators with the input of both Parties, if possible, within thirty (30) days of the selection of the second arbitrator and
thereafter by the ICC. The arbitration award rendered by the arbitrators shall be final and binding on the Parties. Judgment on the award may be entered in any court having jurisdiction over the Parties or their respective assets. Either Party may
apply to the arbitrators for interim injunctive relief until the arbitration decision is rendered or the dispute is otherwise resolved. Either Party also may, without waiving any right or remedy 

  
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under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending resolution of the dispute
pursuant to this Section 5.6(a). 
 (b)    The Parties shall keep any such arbitration confidential and
shall not disclose to any person, other than those necessary to the proceedings, the existence of the arbitration, any information, testimony or documents submitted during the arbitration or received from the other Party, a witness or the
arbitrators in connection with the arbitration, and any award, unless and to the extent that disclosure is required by Law or is necessary for permitted court proceedings, such as proceedings to recognize or enforce an award. 

Section 5.7    Waiver. A Party may (a) extend the time for the performance of any of the obligations or
other acts of the other Party, (b) waive any inaccuracies in the representations and warranties of the other Party contained herein, or (c) waive compliance with any of the agreements of the other Party or conditions to such obligations
contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the Party to be bound thereby. Notwithstanding the foregoing, no failure or delay by any Party in exercising any right hereunder
shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or future exercise of any other right hereunder. Any waiver of any term or condition hereof shall not be construed as a waiver of any subsequent
breach or as a subsequent waiver of the same term or condition, or a waiver of any other term or condition of this Agreement. 
 Section
5.8    Confidentiality. 
 (a)    Each Party agrees not to, and to cause its respective
Affiliates not to, disclose or otherwise make available to any third party, (i) the terms of this Agreement (to the extent not already made public), and (ii) any trade secrets and other information and materials (including confidential and
proprietary know-how, processes, schematics, business methods, formulae, drawings, models, source code, designs and other technical or business information) that constitute or document confidential and
proprietary Background IP. JS Horizon shall not, and shall cause the other Horizon Entities not to, disclose or otherwise make available to any to any third party (other than at Hyzon’s request) any of the provisional patent applications
constituting Hyzon Patents before such patent applications are published. Each Party shall, and shall cause its applicable Affiliates to, use reasonable care, at least as protective as the efforts it uses with respect to its other important
confidential information, to safeguard all such confidential information from any use or disclosure prohibited under this Agreement. 

(b)    Notwithstanding the foregoing, a Party (or such Party’s applicable Affiliate) may disclose information
described in this Section 5.8 to: (i) its Affiliates, (ii) any of its accountants, legal representatives, employees, contractors, customers, suppliers, agents, licensees, assignees or other successors-in-interest in connection with the exercise of its rights under this Agreement, but only to the extent such Person is bound by confidentiality terms at least as protective as those set forth in
Section 5.8(a); (iii) the extent it becomes publicly available through no fault of such first Party; (iv) to actual or potential investors, acquirors, or sources of financing in connection with obtaining or seeking to obtain
financing, but only to the extent such Persons are bound by confidentiality terms at least as protective as those set forth in Section 5.8(a); or (v) the extent required by an order of an applicable Governmental Entity, but only
after the other Party has been so notified and has had the opportunity, if possible, to obtain reasonable protection in connection with such disclosure. 

  
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 Section 5.9    Interpretation; Rules of Construction. 

(a)    The Article and Section headings contained in this Agreement are solely for the purpose of reference, are not part
of the agreement of the Parties and shall not in any way affect the meaning or interpretation of this Agreement. 

(b)    In this Agreement, except to the extent otherwise provided or that the context otherwise requires: (i) when a
reference is made in this Agreement to an Article, Section or Exhibit, such reference is to an Article or Section of, or an Exhibit to, this Agreement; (ii) whenever the words “include,” “includes,” “including,”
“exclude,” “excludes,” and “excluding” are used in this Agreement, they are deemed to be followed by the words “without limitation”; (iii) the words “hereof,” “herein” and
“hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement; (iv) references to any agreement or other document are to such agreement
or document as amended, modified, supplemented or replaced from time to time; (v) the word “shall” is to be interpreted as imperative; and (vi) “Dollars” and “$” shall mean and refer to U.S. Dollars. 

(c)    The Parties understand and agree that every term and condition of this Agreement has been mutually negotiated,
prepared and drafted, and that if at any time the Parties desire or are required to interpret or construe any such term or condition or any agreement or instrument subject thereto, no consideration shall be given to the issue of which Party actually
prepared, drafted or requested any term or condition of this Agreement. 
 Section 5.10    Specific
Performance. The Parties acknowledge and agree that the Parties hereto would be irreparably damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached and that any
nonperformance or breach of this Agreement by any Party could not be adequately compensated by monetary damages alone and that the Parties would not have any adequate remedy at Law. Accordingly, in addition to any other right or remedy to which any
Party may be entitled, at Law or in equity (including monetary damages), such Party shall be entitled to seek to enforce any provision of this Agreement by a decree of specific performance and to temporary, preliminary and permanent injunctive
relief to prevent breaches or threatened breaches of any of the provisions of this Agreement, without posting any bond or other undertaking. 

Section 5.11    Bankruptcy. 

(a)    The Parties intend that all rights and licenses, including the scope of exclusivity granted under those licenses,
survive unchanged any bankruptcy, insolvency or similar condition of the Parties hereunder, or any similar proceeding instituted, whether voluntarily or involuntarily, by any Governmental Entity of any jurisdiction with respect to a Party. Without
limiting any of the foregoing, the licenses and rights granted under this Agreement, including the exclusive rights granted hereunder, are intended for the purpose of any applicable Laws concerning bankruptcy and insolvency (including the Business
Bankruptcy Law of the People’s Republic of China and the Insolvency, Restructuring and Dissolution Act 2018 of Singapore), as a one-time, 

  
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perpetual and irrevocable division and allocation of rights in and to the Background IP and Hyzon Patents, coupled with terms intended to clarify and reinforce that division and allocation of
rights. The licenses and rights granted under this Agreement, and the other terms hereof are not intended, for the purposes of such applicable Laws, as “onerous property” or substantial “ongoing performance” obligations of either
Party in its capacity as a licensor. 
 (b)    All rights and licenses granted hereunder are, for purposes of section
365(n) of the United States Bankruptcy Code (or any similar provisions of any other applicable Laws in other jurisdictions concerning bankruptcy or insolvency and offering similar licensee protections), licenses of intellectual property within the
scope of section 101 of the United States Bankruptcy Code or any similar provisions of any other applicable Laws. 

(c)    Each Party recognizes that the other Party, as a licensee of such rights and licenses hereunder, will retain and
may fully exercise all of its rights and elections under the United States Bankruptcy Code or similar Laws of any other applicable jurisdiction (including, as applicable, the Business Bankruptcy Law of the People’s Republic of China or the
Insolvency, Restructuring and Dissolution Act 2018 of Singapore), and that the rejection of this Agreement by a Party in connection with any bankruptcy or insolvency proceedings shall constitute a breach of this Agreement by that Party, but not the
rescission or termination of any of the licenses (including any of the exclusive licenses) granted hereunder. 

Section 5.12    Severability. In the event that it is determined by a court of competent jurisdiction or
applicable arbitrating body (in accordance with Section 5.6) that any provision of this Agreement is invalid, illegal, or otherwise unenforceable, such provision will be enforced as nearly as possible in accordance with the stated
intention of the Parties, while the remainder of this Agreement will remain in full force and effect and bind the Parties according to its terms. To the extent any provision cannot be enforced in accordance with the stated intentions of the Parties,
such provisions will be deemed not to be part of this Agreement. 
 Section 5.13    Counterparts. This
Agreement may be executed and delivered (including by facsimile or other means of electronic transmission, such as by electronic mail in “pdf” form) in two or more counterparts, and by the Parties hereto in separate counterparts, each of
which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Parties hereto have executed this Intellectual Property Agreement
effective as of the Effective Date. 
  

									
	 JIANGSU QINGNENG NEW ENERGY

TECHNOLOGIES CO., LTD.
	 		 	HYZON MOTORS INC.
					
	By:	 	 /s/ Zhijun (George) Gu
	 		 	By:	 	 /s/ Craig Knight

	Name:	 	Zhijun (George) Gu	 		 	Name:	 	Craig Knight
	Title:	 	Chairman	 		 	Title:	 	Chief Executive Officer
	Date:	 	January 12, 2021	 		 	Date:	 	January 12, 2021
			
	 SHANGHAI QINGNENG HORIZON

NEW ENERGY LTD.
	 		 	
					
	By:	 	 /s/ Zhijun (George) Gu
	 		 		 	
	Name:	 	Zhijun (George) Gu	 		 		 	
	Title:	 	Chairman	 		 		 	
	Date:	 	January 12, 2021	 		 		 	

 Exhibit A 

Definitions 
 For
the purposes of the Agreement the following terms have the meanings set forth in this Exhibit A: 
 “Action” means
any action, litigation, proceeding, arbitration or other claim (including for injunctive relief) in or before any Governmental Entity. 

“Additional Patents” means the patents and patent applications owned by Power JV as of the Effective Date and identified on
Exhibit D, together with any patent that issues from any such patent applications, and any reissue, division, continuation, continuation-in-part (excluding new
subject matter), extension, or reexamination, in each case, that claims priority to any of the foregoing patents or patent applications; provided that no patent or patent application will be considered an Additional Patent after the time it
has expired or has been adjudged pursuant to a final decision or order of a Governmental Entity of applicable jurisdiction to be invalid (unless and until such decision or order is appealed and finally adjudged by a Governmental Entity of applicable
jurisdiction to be valid). 
 “Asia” means the following countries and territories (including any successors thereto):
Afghanistan, Bangladesh, Bhutan, Brunei, Cambodia, China (including Hong Kong and Macau), India, Japan, Kazakhstan, Kyrgyzstan, Laos, Malaysia, Maldives, Mongolia, Myanmar, Nepal, North Korea, Pakistan, Philippines, Singapore, South Korea, Sri
Lanka, Taiwan, Tajikistan, Thailand, Turkmenistan, Uzbekistan, and Vietnam. 
 “Africa” means the following countries and
territories (including any successors thereto): Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Republic of the Congo, Djibouti, Egypt,
Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome
and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia, and Zimbabwe. 

“Affiliate” means, with respect to any Person, any other Person that directly, or indirectly through one or more
intermediaries, Controls, is Controlled by or is under common Control with such first Person. 
 “Auditor” has the meaning
set forth in Section 2.8(a). 
 “Background IP” means (a) any and all Intellectual Property Rights owned
by JS Horizon, or by any other Horizon Entity, in each case, as of November 19, 2020, covering or relating to Mobility Products or Fuel Cells, including any Intellectual Property Rights described in Exhibit B, together with any patent
that issues from any such patent applications included in the foregoing, and any reissue, division, continuation, continuation-in-part (excluding new subject matter),
extension, or reexamination, in each case, that claims priority to any of the foregoing patents or patent applications, and (b) the Additional Patents together with any patent that issues from any

  
 A-1 

 
patent applications included in the Additional Patents, and any reissue, division, continuation,
continuation-in-part (excluding new subject matter), extension, or reexamination, in each case, that claims priority to any of the foregoing patents or patent
applications; provided that (x) the patents and patent applications described in clause (b) of this definition will only be considered Background IP as of and after the Entity Acquisition, and (y) no Intellectual Property Right
will be considered Background IP after the time it has expired or has been adjudged pursuant to a final decision or order of a Governmental Entity of applicable jurisdiction to be invalid (unless and until such decision or order is appealed and
finally adjudged by a Governmental Entity of applicable jurisdiction to be valid). For clarity, Background IP does not include any Hyzon Patents. 

“Commercialize” means to sell, lease, offer for sale or lease, service, market, import, distribute, or otherwise
commercialize, or do any combination of the foregoing. 
 “Control” (including the correlative meanings of the terms
“Controlled by” and “under common Control with”), when used with respect to any specified Person, means (a) the ownership of more than fifty percent (50%) of the voting securities or other voting interests of such Person, or
(b) the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or other interests, by contract or otherwise. 

“Entity Acquisition” has the meaning set forth in Section 1.3. 

“Exploit” means to research, develop, make, manufacture, have made (and have manufactured), assemble, retrofit, use,
reproduce, display, create derivative works of, Commercialize, provide or otherwise exploit, or do any combination of the foregoing. 

“Fuel Cell” means (a) any fuel cell or fuel cell system, (b) any components or
sub-assemblies of such fuel cell or fuel cell system, including fuel cell materials, catalyst, membrane and membrane electrode assembly, bipolar plates, fuel cell stacks, fuel cell controllers, balance of
plant, components of balance of plant, hydrogen storage, humidifier, power conditioning module, high efficiency DC/DC, ejector/injector, and any other components or materials that enable a fuel cell system to produce regulated power, and
(c) any services related to such fuel cells, or such components or sub-assemblies. 

“Governmental Entity” means any state, nation or international body or governmental organization, whether domestic, foreign
or multinational, including any agency, authority, commission, body, court or other legislative, executive, regulatory or judicial governmental authority. 

“Horizon Entities” means JS Horizon and its current and future Affiliates, but excluding any Hyzon Entities; provided
that an Affiliate of JS Horizon shall only be considered a Horizon Entity for so long as such Person remains an Affiliate of JS Horizon; and provided further that, if Jiangsu Horizon and Shanghai Horizon become, at any time after the
Effective Date, non-Affiliates, and one or both continue to own any right, title or interest in and to any Background IP, then “Horizon Entities” includes each such Party that continues to own any
right, title or interest in and to any Background IP and any of such Party’s then-current and future Affiliates. 

  
 A-2 

 “Horizon Improvement” means an Improvement made by or on behalf of any
Horizon Entity. 
 “Horizon Field” has the meaning set forth in Section 2.2(a). 

“Hyzon Background Improvement” means a Hyzon Improvement that is not a Hyzon Patent Improvement. 

“Hyzon Entities” means Hyzon, Decarbonization Plus Acquisition Corporation, and any of their respective current and future
Subsidiaries; provided that a Subsidiary of Hyzon or Decarbonization Plus Acquisition Corporation, as applicable, shall only be considered a Hyzon Entity for so long as such Person remains a Subsidiary of Hyzon or Decarbonization Plus
Acquisition Corporation. 
 “Hyzon Field” has the meaning set forth in Section 2.1(a). 

“Hyzon Improvement” means an Improvement made by or on behalf of any Hyzon Entity. 

“Hyzon Patents” means the provisional patent applications identified on Exhibit C hereto, together with any patent
that issues from any such provisional patent applications, and any reissue, division, continuation, continuation-in-part (excluding new subject matter), extension, or
reexamination, in each case, that claims priority to any of the foregoing patents or provisional patent applications; provided that no patent or patent application will be considered a Hyzon Patent after the time it has expired or has been
adjudged pursuant to a final decision or order of a Governmental Entity of applicable jurisdiction to be invalid (unless and until such decision or order is appealed and finally adjudged by a Governmental Entity of applicable jurisdiction to be
valid). 
 “Hyzon Patent Improvement” means a Hyzon Improvement made with respect to one or more Hyzon Patents. 

“ICC” has the meaning set forth in Section 5.6. 

“Improvement” means an Intellectual Property Right that incorporates or is derived from any Background IP, Hyzon Patent or,
prior to the consummation of the Additional Patent Assignment, Additional Patents, including new subject matter in any continuation-in-part of any pending patent
application that constitutes Background IP, a Hyzon Patent or, prior to the consummation of the Additional Patent Assignment, an Additional Patent, but which, in each case, is not itself Background IP, a Hyzon Patent or an Additional Patent;
provided that no Intellectual Property Right will be considered an Improvement after the time it has expired or has been adjudged pursuant to a final decision or order of a Governmental Entity of applicable jurisdiction to be invalid (unless
and until such decision or order is appealed and finally adjudged by a Governmental Entity of applicable jurisdiction to be valid). 

“Intellectual Property Rights” means any and all intellectual property or proprietary rights anywhere in the world, including
any such rights in or to the following: (a) inventions, discoveries, ideas and improvements, whether patentable or not, and all patents, registrations, invention disclosures and applications therefor, including divisions, revisions,
supplementary protection 

  
 A-3 

 
certificates, continuations, continuations-in-part, renewals, extensions, reissues and reexaminations;
(b) trade secrets and other intellectual property rights in proprietary information, know-how, processes, schematics, business methods, formulae, drawings, models, and designs; (c) mask works,
published and unpublished works of authorship, whether copyrightable or not (including software), copyrights therein and thereto, and registrations and applications therefor, and all renewals, extensions, restorations and reversions thereof; and
(d) all other intellectual property, moral, industrial and proprietary rights; provided that, notwithstanding the foregoing, Intellectual Property Rights shall not include any rights in or to any trademarks, service marks, logos or
similar identifiers of origin. 
 “Jiangsu Horizon” has the meaning set forth in the Preamble. 

“JS Horizon” has the meaning set forth in the Preamble. 

“Law” means any federal, state, local or foreign law, statute, ordinance, rule, regulation, judgment, order, injunction,
decree, arbitration award, agency requirement, opinion, franchise, license or permit of any Governmental Entity or common law. 

“Mobility Fuel Cell” means a Fuel Cell that is designed or intended for use in Vehicles. 

“Mobility Product” means (a) any vehicle, or mobility-related machinery or equipment, including any car, truck, bus, train,
port equipment, material handling machinery, earthmoving equipment, logistics vehicles, crane, forklift, tractor, excavator, drill, crawler, scrapper, grader, gondola, shuttle car, conveyor, locomotive, airborne craft, watercraft or spacecraft
(collectively, “Vehicles”), (b) any Vehicle components (other than Fuel Cells), and (c) any services related to any of the foregoing as described in clauses (a) or (b). 

“Non-Mobility Fuel Cell” means a Fuel Cell that is not a Mobility Fuel Cell. 

“Party” and “Parties” have the respective meanings set forth in the Preamble. 

“Person” means an individual, a group, a corporation, a partnership, an association, a limited liability company, a
Governmental Entity, a trust or other entity or organization. 
 “Power JV” means Jiangsu Qingneng Power Technology Co.,
Ltd. 
 “Shanghai Horizon” has the meaning set forth in the Preamble. 

“South America” means the following countries and territories (including any successors thereto): Argentina, Bolivia, Brazil,
Chile, Colombia, Ecuador, French Guiana, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela. 
 “Subsidiary” means,
with respect to any Person, any other Person that is Controlled by such first Person. 
 “Vehicles” has the meaning set
forth in the definition of “Mobility Product.” 

  
 A-4 

 Exhibit B 

Identified Background IP 

Patents and Patent Applications 
  

									
	 	 	 Title
	  	 Patent No. / App. No. /
Pub. No.
	  	 Jurisdiction
	  	 Current
Status

	1.	 	A CASE FOR HYDROGEN FUEL CELL WITH TOP-LIFT HEAT DISSIPATING CHARGING AND DISCHARGING DEVICE	  	201820538730.0	  	China	  	Granted
	2.	 	A CHARGING DEVICE FOR HYDROGEN FUEL CELL WITH LATERAL ANGLE FIXED MECHANISM	  	201820440512.3	  	China	  	Granted
	3.	 	A FUEL CELL SYSTEM AND ITS OPERATION METHOD	  	201810480558.2	  	China	  	Pending
	4.	 	A GRAVITY INDUCTION HEAT DISSIPATION ENCLOSURE FOR HYDROGEN FUEL CELLS	  	201820440387.6	  	China	  	Granted
	5.	 	A HYBRID BIPOLAR PLATE FUEL CELL STRUCTURE AND SEALING METHOD	  	201710790857.1	  	China	  	Pending
	6.	 	A HYDROGEN SUPPLY DEVICE AND METHOD FOR FUEL CELL SYSTEM	  	201810448704.3	  	China	  	Pending
	7.	 	A MULTISTAGE ADJUSTABLE CHARGE AND DISCHARGE DEVICE FOR HYDROGEN FUEL CELLS	  	201820538668.5	  	China	  	Granted
	8.	 	A SEALING METHOD OF MEA ENCAPSULATION ADHESIVE	  	201710791654.4	  	China	  	Pending
	9.	 	A SEALING STRUCTURE FOR FUEL CELLS	  	200710101540.9	  	China	  	Granted
	10.	 	A SELF-HUMIDIFYING ELECTROCHEMICAL DEVICE	  	200710039532.6	  	China	  	Granted
	11.	 	A TURBINE HEAT DISSIPATOR SHELL FOR HYDROGEN FUEL CELL	  	201820458273.4	  	China	  	Granted
	12.	 	A WALL-MOUNTED CONNECTING MECHANISM FOR CHARGING DEVICE OF HYDROGEN FUEL CELL	  	201820440449.3	  	China	  	Granted
	13.	 	AN ADJUSTABLE HEAT DISSIPATOR SHELL FOR HYDROGEN FUEL CELLS	  	201820612280.5	  	China	  	Granted
	14.	 	CATHODE STRUCTURE OF FUEL CELLS	  	PCT/CN2017/085899	  	China	  	Pending
	15.	 	FUEL CELL SYSTEM AND ITS CONTROL METHOD	  	PCT/CN2017/097440	  	China	  	Pending
	16.	 	HYBRID BIPOLAR PLATE ASSEMBLY FOR FUEL CELL AND FUEL CELL STACK BASED ON IT	  	201821801646.X	  	China	  	Granted
	17.	 	HYBRID BIPOLAR PLATE FOR FUEL CELL	  	PCT/CN2018/109670	  	PCT	  	Pending
	18.	 	HYBRID BIPOLAR PLATE FOR FUEL CELL	  	16/093,890	  	USA	  	Pending
	19.	 	HYBRID BIPOLAR PLATE FOR FUEL CELL	  	201811301777.6	  	China	  	Pending
	20.	 	A DEVICE AND A METHOD FOR PRODUCING HYDROGEN GAS	  	200510030909.2	  	China	  	Granted
	21.	 	THE STRUCTURE OF A HYDROGEN-POWERED TOY CAR	  	200510111373.7	  	China	  	Granted
	22.	 	INTEGRATED REFORMATOR AND PURIFIER	  	201611001306.4	  	China	  	Pending

  
 B-1 

									
	 	 	 Title
	  	 Patent No. / App. No. /
Pub. No.
	  	 Jurisdiction
	  	 Current
Status

	23.	 	SEALING STRUCTURE OF FUEL CELL AND METHOD FOR MANUFACTURING THE SAME	  	8,067,128	  	USA	  	Granted
	24.	 	ELECTRIC POWER SOURCE ARRANGEMENT AND METHOD OF HOW TO USE IT	  	8,367,258	  	USA	  	Granted
	25.	 	ELECTROMAGNETIC PULSE PROTECTED FUEL CELL POWER SYSTEM	  	7,358,006	  	USA	  	Granted
	26.	 	FUEL CELL SYSTEM AND METHOD OF OPERATING IT	  	201106713-9	  	Singapore	  	Granted
	27.	 	HYDROGEN GENERATOR	  	9,187,322	  	USA	  	Granted
	28.	 	INTEGRATED REFORMER AND PURIFIER	  	10,081,543	  	USA	  	Granted
	29.	 	REFORMING AND HYDROGEN PURIFICATION SYSTEM	  	7,341,609	  	USA	  	Granted
	30.	 	REFORMING AND HYDROGEN PURIFICATION SYSTEM	  	2,501,137	  	Canada	  	Granted
	31.	 	HYDROGEN PURIFIER MODULE AND METHOD FOR FORMING THE SAME	  	8,110,022	  	USA	  	Granted
	32.	 	HYDROGEN PURIFIER MODULE WITH MEMBRANE SUPPORT	  	8,226,750	  	USA	  	Granted
	33.	 	REFORMING AND HYDROGEN PURIFICATION SYSTEM	  	4598529	  	Japan	  	Granted
	34.	 	REFORMING AND HYDROGEN PURIFICATION SYSTEMS	  	200380104792.7	  	China	  	Granted
	35.	 	HYDROGEN GENERATOR AND METHOD OF OPERATING HYDROGEN GENERATORS	  	201103178-8	  	Singapore	  	Granted
	36.	 	FUEL CELL METAL BIPOLAR PLATE STRUCTURE AND FUEL CELL STACK	  	202022310304.1	  	China	  	Pending
	37.	 	A DEIONIZER FOR FUEL CELL SYSTEM	  	2020224797115	  	China	  	Pending
	38.	 	A WATER FILTER FOR FUEL CELL SYSTEM	  	2020228007854	  	China	  	Pending
	39.	 	A PREPARATION METHOD OF FLEXIBLE GRAPHITE PLATE	  	2020111971086	  	China	  	Pending
	40.	 	A METHOD OF MAKING GRAPHITE BIPOLAR PLATE	  	202011192688X	  	China	  	Pending
	41.	 	SEALING STRUCTURE OF SINGLE FUEL CELL	  	202011174869X	  	China	  	Pending
	42.	 	A WATER HEAT EXCHANGE DEVICE FOR FUEL CELL	  	2020223572237	  	China	  	Pending
	43.	 	A WATER HEAT EXCHANGE DEVICE FOR FUEL CELL	  	2020111338229	  	China	  	Pending
	44.	 	TEMPERATURE CONTROL VALVE FOR FUEL CELL SYSTEM	  	2020224003680	  	China	  	Pending
	45.	 	FUEL CELL MODULE	  	2020224003727	  	China	  	Pending
	46.	 	A 130KW FUEL CELL STACK TEST BENCH	  	2020230724427	  	China	  	Pending

 Know How and Designs 
 Know-how related to Mobility Products. Fuel Cell systems designed to be deployed in motive systems, such as heavy vehicles, port equipment, earthmoving equipment, material handling machinery, logistics vehicles
and other commercial vehicles, and further including components and sub-assemblies including bipolar plates, fuel cell stacks, balance of plant within automotive fuel cell systems, humidifier, high efficiency
DC/DC, ejector/injector, fuel cell controller, fuel cell system (powertrain) design, control software, battery-fuel cell hybrid control, electric drivetrain design, and excluding catalyst, membrane and membrane electrode assembly. 

  
 B-2 

 Know-how related to Fuel Cell design and assembly. Best
practices related to the production of the hydrogen Fuel Cells; QC/QA of the Fuel Cells; appropriate and preferred materials of construction. 
 Know-how related to Fuel Cell system control. Integrated control scheme with external DC power system, batteries and hydrogen storage and delivery system. 

Know-how related to Fuel Cell system cost optimization.  

  
 B-3 

 Exhibit C 

Hyzon Patents 
  

									
	 	  	 Title
	  	 Provisional Patent
App. No.
	  	 Jurisdiction
	  	 Current
Status

	1.	  	PRODUCTION METHOD USED FOR SINGLE CELL COMPONENTS SEALING	  	63/084,146	  	United States	  	Pending
	2.	  	GAS-SOLID REDUCTION PROCESS FOR PREPARATION OF PLATINUM-CONTAINING CATALYSTS FOR FUEL CELLS	  	63/084,167	  	United States	  	Pending
	3.	  	ELECTRODES WITH IMPROVED CELL REVERSAL TOLERANCE THROUGH FUNCTIONALIZED AND STABILIZED OXIDES	  	63/084,177	  	United States	  	Pending
	4.	  	MEMBRANE ELECTRODE ASSEMBLY WITH IMPROVED PERFORMANCE USING TWO COMPONENT FLUORINATED BLENDED ELECTROLYTE ADDITIVES	  	63/084,185	  	United States	  	Pending
	5.	  	FUEL CELLS WITH IMPROVED MEMBRANE LIFE	  	63/084,329	  	United States	  	Pending
	6.	  	MEMBRANE ELECTRODE ASSEMBLY WITH ENHANCED START-UP AND SHUT-DOWN DURABILITY	  	63/084,359	  	United States	  	Pending
	7.	  	FUEL CELLS WITH ENHANCED CARBON MONOXIDE TOLERANCE CATALYST LAYER USING COMPOSITE CATALYST	  	63/084,380	  	United States	  	Pending
	8.	  	MICRO POROUS LAYER FOR FUEL CELLS	  	63/084,402	  	United States	  	Pending
	9.	  	CATALYST, ELECTRODE AND METHOD OF PREPARING THE SAME FOR PEM FUEL CELLS	  	63/123,001	  	United States	  	Pending
	10.	  	REINFORCED PROTON EXCHANGE MEMBRANE	  	63/129,045	  	United States	  	Pending
	11.	  	DRY FUEL CELL ELECTRODES AND THE METHOD OF MANUFACTURE	  	63/131,389	  	United States	  	Pending
	12.	  	FUEL CELL CATALYST COATED MEMBRANE AND METHOD OF MANUFACTURE	  	63/132,773	  	United States	  	Pending
	13.	  	INTEGRATED PLATE AND CELL SEALING	  	63/071,476	  	United States	  	Pending
	14.	  	ENHANCED DURABILITY OF FUEL CELL METALLIC BIPOLAR PLATE	  	63/084,213	  	United States	  	Pending
	15.	  	NON-CHANNELED AND ANISOTROPIC FLOW FIELD FOR DISTRIBUTION SECTIONS IN FUEL CELLS	  	63/084,157	  	United States	  	Pending
	16.	  	OVERLAYER TO IMPROVE METALLIC PLATE DURABILITY	  	63/084,232	  	United States	  	Pending
	17.	  	STACK ASSEMBLY MACHINE AND PROCESS	  	63/071,486	  	United States	  	Pending
	18.	  	MANUFACTURABLE HUMIDIFIER	  	63/071,481	  	United States	  	Pending
	19.	  	MODULAR BOOST CONVERTER SYSTEM WITH SUPER CAPACITOR	  	63/090,794	  	United States	  	Pending
	20.	  	NESTING HYDROGEN TANK	  	63/108,555	  	United States	  	Pending

  
 C-1 

 Exhibit D 

Additional Patents 
  

									
	 	 	 Title
	  	 Patent App No. / Pub.
No.
	  	 Jurisdiction
	  	 Current
Status

	1.	 	A CONNECTING ROD OF POWER GENERATION DEVICE WITH LOCKING AND HYDROGEN DISTRIBUTION FUNCTION	  	200610029939.6	  	China	  	Granted
	2.	 	A HEAT DISSIPATION STRUCTURE FOR FUEL CELLS	  	201821707223.1	  	China	  	Granted
	3.	 	A HEAT DISSIPATION STRUCTURE FOR FUEL CELLS	  	201821917779.3	  	China	  	Granted
	4.	 	A HUMIDIFICATION METHOD AND SYSTEM FOR FUEL CELL STARTUP	  	200710039334.X	  	China	  	Granted
	5.	 	A JOINT SAFETY SEALING DEVICE FOR HYDROGEN GENERATOR	  	201821960991.8	  	China	  	Granted
	6.	 	A KIND OF CYLINDER VALVE	  	201821778347.9	  	China	  	Granted
	7.	 	A LITHIUM BATTERY PACKAGE WITH SEPARATE HEAT DISSIPATION PROTECTION FUNCTION	  	201821707286.7	  	China	  	Granted
	8.	 	A MINI HYDROGEN REFILLING STRUCTURE	  	201821829770.7	  	China	  	Granted
	9.	 	A MINI PRESSURE VALVE	  	201821917778.9	  	China	  	Granted
	10.	 	A NEW SEALING STRUCTURE OF EMBEDDED FUEL CELL	  	201821707224.6	  	China	  	Granted
	11.	 	A THERMAL DIFFUSION STRUCTURE FOR MINI FUEL CELLS	  	201821731007.0	  	China	  	Granted
	12.	 	AN ACTIVE CONTROL POWER GENERATOR	  	200610029937.7	  	China	  	Granted
	13.	 	A REAR OVERTURNING SUPPORT SUSPENSION DEVICE FOR HYDROGEN GENERATOR	  	201821917777.4	  	China	  	Granted
	14.	 	AN EASY MAINTENANCE OUTER CASING FOR HYDROGEN GENERATOR	  	201821960993.7	  	China	  	Granted
	15.	 	A HYDROGEN STORAGE ALLOY CANISTER	  	201821721709.0	  	China	  	Granted
	16.	 	A HYDROGEN STORAGE CANISTER	  	201821721710.3	  	China	  	Granted
	17.	 	A WALL MOUNTED ADJUSTABLE BRACKET FOR HYDROGEN GENERATOR	  	201821867907.8	  	China	  	Granted
	18.	 	A SIDE RETRACTABLE PROTECTIVE DEVICE FOR REMOTE CONTROL TOY CAR	  	201821870883.1	  	China	  	Granted
	19.	 	FUEL CELL THERMAL MANAGEMENT SYSTEM	  	202011149770.4	  	China	  	Pending
	20.	 	A VEHICLE FUEL CELL SYSTEM	  	202011151421.6	  	China	  	Pending
	21.	 	A FUEL CELL ENGINE	  	202011151360.3	  	China	  	Pending

  
 D-1EX-10.15

 Exhibit 10.15 
 

 
 Principles 
The Horizon Fuel Cell group of
companies (Horizon) and HYZON Motors Inc. (HYZON) hereby outline the arrangements under which fuel cell stacks and systems will be supplied to HYZON by Horizon entities. 
The following principles of cooperation provide the foundation for commercial contracting that will follow the Framework Supply Agreement terms stated on the following pages:

Horizon is an established company manufacturing fuel cells of various sizes and power capacities, with a strong focus on automotive fuel cell systems. 
HYZON is a majority-owned subsidiary of Horizon at the time of establishing this agreement, but the Horizon ownership of HYZON is not intended to shape the nature of this
agreement, which describes commercial arrangements intended to function on an arm’s length basis. 
The formal contract to be established is intended to protect
both parties’ interests in developing the market for automotive fuel cells developed by the two Parties, and in the early stages of HYZON operations, it is expected that Horizon will supply fuel cells and integrated systems, and certain related
services, to enable HYZON to validate the technology in their target markets. 
In the longer term, there may be cases where HYZON chooses to purchase fuel cells,
systems or sub-assemblies from Horizon under terms to be agreed, regard less of HYZON ability to manufacture similar systems.

The Parties acknowledge that HYZON plan to manufacture their own fuel cells in the future, focused on mobility applications, and separate agreements govern
ownership of and access to relevant intellectual property and access to markets. 
The Parties agree to act in good faith collaborating to optimize supply chains and
supply arrangements on parts and components within the fuel cell systems or the broader vehicle electric drive systems. 
Fundamental Terms of Supply Cooperation:

1) Horizon agrees to supply to HYZON to the best of its ability at all times;

2) Horizon agrees to treat HYZON as preferred export customer for Horizon China-based manufacturing capabilities; 
3) HYZON to enjoy competitive prices and commercial terms for comparable products and materials;

4) HYZON to uphold reasonable commercial payment arrangements, and be held to account for such; 
5) Horizon to report monthly production capacity to HYZON, who in return must report monthly sales forecasts for equipment to be purchased from Horizon; 
6) The Parties will exchange information in good faith on lead times for materials, parts and components, and establish a suitable set of production lead-times by product type and
specification; 
7) The Parties will specifically seek out opportunities to optimise the supply of equipment and materials within systems manufactured by Horizon,
and also within parts and sub-assemblies that may be procured by Horizon on behalf of HYZON; 
8) At all times, the
commercial arrangements between the Parties should represent highly competitive performance and price characteristics by market standards, and if HYZON is disadvantaged in the market conducting business on the terms herein, Horizon agrees to revisit
the agreement in good faith to seek outcomes consistent with the intent of the Parties. 
Framework Supply Contract Template 
The following Framework Supply Contract is provided as a commercial contracting template for the supply of goods from Horizon to HYZON and HYZON’s regional subsidiary
companies. As appropriate order specific contracts can be prepared from this template with product specification and order pricing specified on an order by order basis. 

  
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 This Framework Supply Contract Template is agreed on 7th January 2021 
Between Jiangsu Horizon New Energy Technologies Co. Ltd. of Rm 302-309, 3F, Building A. Huada Road, New Environmentally Materials Industrial
Park, Jingang Town, Zhangjiagang City, Jiangsu, China (Seller) 
and Hyzon Motors Inc of 10 Carriage Street, Building C, Honeoye Falls, NY 14472 USA (Buyer)

1. Definitions and interpretation 
1.1 In this Contract, unless and to the
extent the context otherwise requires or indicates: 
Business Day means any day other than a Saturday or Sunday or a public holiday the Jurisdiction. 
Confidential Information means all information which is confidential in nature and is disclosed by the Seller to the Buyer at any time in connection with the Contract, and includes
the Design Documents. 
Consequential Loss includes loss of revenue, loss of profit, loss of use, loss of business opportunity or contract, loss of goodwill,
business interruption, and any indirect or consequential loss however caused or arising, whether under contract (including under an indemnity), in tort (including negligence), under statute (to the extent permitted by law), in equity or otherwise
and even if that loss was in the contemplation of the Parties at the time of entering into the Contract. 
Contract means this contract between the Seller and the
Buyer constituted by: 
(a) these terms; and 
(b) the Schedules. 
Date for Delivery means the date or dates specified in Item 3 on or by which The Seller must deliver Goods to the Delivery Location. 
Date of Delivery means the date on which the Seller delivers to the Buyer the last of the Goods to be supplied under the Contract. 
Delivery Location means the location specified in Item 4 to which the Seller must deliver the Goods. 
Design Documents means the drawings, specifications, detailed engineering documentation, plans and like created by the Seller for the Goods. 
Goods means the goods to be supplied by the Seller under the Contract, as more particularly described in Item 1 and Schedule 3. 
Government Authority means any national, state, local, regional, territorial or municipal government, ministry, governmental department, commission, board, bureau, agency,
instrumentality, executive, legislative, judicial or administrative body, having jurisdiction over the Parties or the Goods. 
Insolvency Event means, in respect of
a Party, that the Party becomes insolvent, commits an act of bankruptcy or, being a company, a liquidator, provisional liquidator, receiver, receiver and manager, administrator or official manager is appointed in respect of the Party, a mortgagee
goes into possession of the Party’s assets or business, an application is made to appoint a liquidator or to have the company wound up, the Party is made subject to the supervision of a court or enters into a scheme of arrangement with its
creditors, or if anything analogous occurs in respect of the Party. 

  
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 Intellectual Property Right means any invention, patent, design (whether registered or not), trademark, trade name, copyright, trade
secret, know-how, proprietary information or other protected right. All Intellectual Property Rights between the Parties to be agreed under a separate contract. 
Item means an item in the Contract Particulars. 
Jurisdiction means the jurisdiction specified
in Item 5. 
Party means the Buyer or the Seller as the context requires, and Parties means both of them. Price means the amount specified in or to be calculated in
accordance with the Pricing Schedule. Pricing Schedule means the pricing schedule set out in Schedule 2. 
Service Location means the location specified in Item 8.

Warranty Period means the period of 1 year commencing from the Date of Delivery of the Goods (or such other period specified in Item 6). 
1.2 In the Contract, unless the context otherwise requires: (a) references to: 
(i)
persons include companies, associations, firms, authorities and bodies corporate; 
(ii) any legislation includes subordinate legislation under it and includes that
legislation and subordinate legislation as amended from time to time; 
(b) to the extent any of the documents constituting the Contract are written (in whole or in
part) in a language other than English and there is any inconsistency between the words in English and the words in the other language, the words in English prevails; 
(c) the singular includes the plural and the other way around; 
(d) headings do not affect the
meaning of the Contract; 
(e) if a word or phrase is defined, any variation of that word or phrase has the same meaning to the extent possible; 
(f) if anything to be done under the Contract falls on a day which is not a Business Day, then it must be done on the next Business Day; 
(g) no provision of the Contract must be construed adversely to a party solely on the ground that the party was responsible for the preparation of the Contract or that provision;
and 
(h) where examples of a general term are given (whether or not using words such as 
‘includes’ or ‘including’), the use of the examples does not limit what else may be included. 
1.3 If either Party discovers any ambiguity, inconsistency, error or discrepancy in any document constituting the Contract, the Seller will direct the interpretation which the
Parties must follow. 
2. Supply of Goods 
2.1 The Seller must supply the Goods
in accordance with the terms of the Contract. 
2.2 The Buyer must pay the Seller the Price in consideration for the Seller supplying the Goods in accordance with
the Contract. 
3. Standard of performance 
3.1 The Seller warrants that the
Goods: 
(a) are free from manufacturing defects; 
(b) will perform as
stipulated in Schedule 3 if installed, maintained and operated in accordance with 
supplied operation and maintenance instructions; and 
(c) when delivered to the Delivery Location will be of merchantable quality and, unless otherwise specified in the Contract, new. 

  
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 4. Delivery 
4.1 The Seller must deliver the Goods
to the Delivery Location by the Date for Delivery. 
4.2 The Seller reserves the right to make deliveries of the Goods by instalments, in which case clause 6 applies
to each instalment as if it was the subject of a separate contract. 
5. Title and risk 
5.1 The Seller is responsible for the care of the Goods up to the time of delivery of the Goods to the Delivery Location. 
5.2 Risk in the Goods: 
(a) remains with the Seller until delivery to the Delivery Location;
and 
(b) passes to the Buyer upon delivery, at which time the Buyer assumes all risk of loss and damage to the Goods, including any loss or damage suffered in the
course of unloading the Goods. 
5.3 Title to any and all Goods supplied by the Seller will remain with the Seller, and no legal or equitable interest or property in
the Goods whatsoever will pass to the Buyer, until the Buyer has paid the full Price for the Goods. 
5.4 Title to the Goods will remain with the Seller in
accordance with clause 5.3 even if the Buyer has possession of the Goods. 
5.5 Until title in the Goods passes to the Buyer, the Buyer must: (a) refrain from
encumbering the Goods; 
(b) store, mark and keep appropriate records for the Goods so that they can at all times be identified and distinguished as the property of
the Seller, and in particular must refrain from mixing the Goods with any Goods owned by the Buyer or any other person; 
(c) not dispose of the Goods; and

(d) allow the Seller full and free access to the Buyer’s premises where the Goods are located to retake possession of such Goods if the Buyer is in any way in
breach of the Contract. 
5.6 The Buyer indemnifies the Seller against any claim, action, damage, loss, liability, cost, expense or payment which the Seller suffers,
incurs or is liable for in respect of the Seller’s exercise of its rights under clause 5.5(d). 
6. Price and Payment 
6.1 The Buyer will pay the Seller the Price in accordance with the Pricing Schedule. 
6.2 The
Seller is entitled to issue invoices progressively at the times and for the amounts specified in the Payment Schedule. 
6.3 Unless otherwise agreed in writing by
the Seller, the Buyer must pay all invoices within 30 days after the date the Seller issues the invoice. 
6.4 Time for payment is of the essence of the Contract.

6.5 If the Buyer does not pay an invoice by the date due: (a) interest will accrue on the unpaid amount: 
(i) from the date on which payment was due until the date on which the invoice is paid in full;

(ii) at the rate of 10% per annum; 
(iii) on a daily basis, and be payable on
demand; and 
(b) in addition to any other rights it may have, the Seller may suspend delivery of all Goods until payment is made. 

  
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 7. Warranty Period 
7.1 Subject to clause 7.2, the
Seller is responsible during the Warranty Period to repair or replace any Goods which do not comply with clause 3.1 (a) or clause 3. 1(b) . 
7.2 The Seller is not
responsible for: 
(a) any defect in the Goods to the extent that the defect was caused or contributed to by: 
(i) failure to operate or maintain the Goods in accordance with the operating and maintenance instructions provided by the Seller, or as otherwise notified in writing from time to
time; 
(ii) fair wear and tear; 
(b) system faults, failure or damage to the
Goods caused or contributed to by: 
(i) operator error; 
(ii) third party
equipment connected to the Goods or operating in the vicinity of the Goods; or 
(iii) changes to the operating environment specified in the Contract in which the
Buyer operates or uses the Goods; 
(iv) unauthorised changes or modifications to the Goods or adaptations of the Goods; (v) repairs or attempts to repair the
Goods by untrained or unauthorised personnel; (vi) act of God, storm, fire, wind, flood or water inundation or from an external source; 
(vii) weathering,
bleaching, fading, discolouration of coated surfaces due to exposure to weather, acid, salt or chemicals; and 
(c) consumable and maintenance items, including air
and fuel filters, fuses, fans, pumps and sacrificial fuel lines. 
7.3 The Buyer may give notice to the Seller at the address specified in Item 7 if at any time
prior to the expiry of the Warranty Period the Buyer identifies any defect in the Goods. 
7.4 The Buyer must provide the Seller with any information and supporting
documentation reasonably required by the Seller to enable the Seller to assess the claim. 
7.5 The Seller will assess the warranty claim upon receipt of the
information and documentation provided pursuant to clause 7.4, and if the Seller is satisfied (acting reasonably) that the Goods in question do not comply with clause 3.1 (a) or clause 3.1 (b) the Seller will: 
(a) in its absolute discretion either repair or replace the Goods; and 
(b) subject to clause
7.6, meet the costs of and incidental to repairing or replacing the Goods (including any packing, freight, disassembly and reassembly costs). 
7.6 Unless otherwise
agreed with the Seller, the Buyer must return the Goods to the Service Location, at the Buyer’s cost, to enable the Seller to repair or replace the Goods in accordance with this clause. 
8. Confidentiality 
8.1 The Buyer: 
(a) may use Confidential Information only for the purposes of the Contract; and 
(b) must keep
confidential, and ensure that its personnel keep confidential, all Confidential Information unless the Confidential Information: 
(i) was in the possession of the
Buyer prior to the date of the Contract; 
(ii) becomes generally available to the public or is in the public domain other than by the fault of the Buyer;

(iii) is required to be produced by any Legislation or order of a court; or

(iv) was obtained from a third party. 

  
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 9. Approvals 
9.1 The Buyer must obtain all
approvals, authorities, licences and permits which are required from any Government Authority for the lawful use of the Goods. 
9.2 The Seller must, where required
by the Buyer, provide reasonable and necessary assistance to the Buyer in order to assist the Buyer to apply for and obtain any approvals for which the Buyer is responsible. 
10. Customs clearance and import duty 
10.1 The Party specified in Item 9 is responsible for
all customs, import and export clearances in respect of the Goods, and must comply with all applicable Legislation in relation to international trade. 
10.2 The
Price does not include any import duties or other charges levied as a result of the importation of the Goods. 
10.3 The Buyer is responsible to pay all import
duties or other charges levied as a result of the importation of the Goods. 
11. Termination 
11.1 If a Party considers that the other Party (Defaulting Party) is in breach of this Contract, the Party may give the Defaulting Party a notice of default specifying the breach
and the date by which the breach must be remedied (which must be a period of at least seven days from the date of the notice). 
11.2 If the Defaulting Party fails
to remedy the default within the date specified in the notice of default, the Party may terminate this Contract by giving notice to the Defaulting Party. 
11 .3 To
the extent permitted by law, a Party may terminate the Contract with immediate effect by giving notice to the other Party if an Insolvency Event exists in relation to the other Party. 
11.4 Termination of the Contract does not affect: 
(a) any rights of the parties which may have
accrued before the termination; 
(b) the rights and obligations of the parties under any clause of the Contract which expressly or by implication are intended to
continue after the termination; and 
(c) any other rights, powers or remedies provided by law. 
11.5 The Seller is entitled to be paid for all Goods delivered prior to the date of termination of the Contract. 
12. Dispute resolution 
12.1 If a dispute arises out of or in connection with this Contract,
then a party may give a notice of dispute to the other party. 
12.2 The parties must confer in an endeavour to settle the dispute. 
12.3 If the parties are unable to resolve the dispute within 30 days of the receipt of the notice of dispute (or such longer period agreed in writing between the Parties) then:

(a) either party may refer the dispute to be finally resolved by arbitration in accordance with, and subject to, the Resolution Institute Arbitration Rules in
force at that time; 
(b) the arbitral tribunal will consist of one arbitrator;

(c) if within 14 days after the dispute is referred to arbitration the parties have not agreed upon an arbitrator, the arbitrator is to be nominated by the Chair
of the Resolution Institute; and 
(d) the seat of the arbitration will be the place nominated in Item 11 , and the language in the arbitration will be English.

  
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 12.4 Notwithstanding the existence of a dispute, the parties must continue to perform their obligations under this Contract. 
12.5 Nothing in this clause 12, prevents a party from seeking urgent relief in a court of competent jurisdiction. 
13. Governing law 
13.1 The law of the Jurisdiction applies to the Contract, and the parties
submit to the non-exclusive jurisdiction of the Courts in the Jurisdiction. 
14. Notices 
14.1 A notice, demand, consent, approval or communication under the Contract must be: (a) in writing; (b) signed by a person duly authorised by the sender; and

(c) hand delivered, sent by prepaid post or electronic mail to the recipient’s address for notices specified in Item 10 or the last notified address of the
recipient. 
14.2 A notice, demand, consent, approval or communication given under the Contract is, unless the contrary is proven, deemed given: 
(a) if delivered by hand, upon delivery to the addressee; 
(b) if sent by post, on the third
(or seventh if posted from and/or to a place outside Australia) Business Day after the day of posting; or 
(c) if sent by email: 
(i) before 5:00pm on a Business Day, on that day; or 
(ii) at or after 5:00pm on a Business
Day, or at any time on a day that is not a Business Day, on the first Business Day after the day it is sent, 
provided that the sender of the email does not receive
a delivery failure notification nor an automated rejection of receipt notice from the intended recipient of the email. 
15. Liability 
15.1 Neither Party is liable to the other for Consequential Loss suffered by the other Party arising out of or in connection with the Goods or the Contract. 
15.2 The aggregate liability of the Seller arising out of or in connection with the Contract, whether in contract, tort (including negligence), under statute (to the extent
permitted by law) or in equity, is the amount specified in Item 12. 
15.3 The Buyer is liable for all costs incurred by the Seller, and will indemnify the Seller
against any loss, liability, charge, expense, outgoing or payment which the Seller suffers, incurs or is liable for arising out of in respect of any breach of the Contract by the Buyer. 
16. General 
16.1 Any part of the Contract which is unenforceable may be severed from the
Contract and the remaining provisions of the Contract will continue in force. 
16.2 None of the terms of the Contract may be varied, waived, discharged or released,
except with the prior written consent by the Seller. 
16.3 A failure to exercise or delay in exercising any right, power or privilege by any party will not operate
as a waiver of that right, power or privilege. 
16.4 The rights and obligations contained in clauses 3 (Standard of performance), 5 (Title and risk), 8
(Confidentiality), 11 (Termination), 12 (Dispute Resolution) and 15 (Liability) survive termination of the Contract. 

  
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 Signed as an agreement: 
Signed for and on behalf
of the Seller 
(Horizon) by its duly authorised 
representative: 
Signature of Director 
name 
Signed for and on behalf of the Buyer 
(HVZON) by its duly authorized 
representative: 
Signature of Director 
Craig M. Knight 
Name CEO 

  
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 SCHEDULE 1 CONTRACT PARTICULARS 
Item 1 Goods
Description of Goods 
See Specifications Schedule 3 
Item 2 Price Price ex
taxes and charges. 
See Pricing Schedule 2 
Item 3 Date for Delivery From the
date the Buyer receives payment of the first payment (deposit). 
Item 4 Delivery Location FOB lncoterms 2020 ex works Shanghai, China 
Item 5 Jurisdiction Singapore 
Item 6 Warranty Period 1 year from the Date of Delivery, or as
specified per order 
Item 7 Address for Warranty Rm 302-309, 3F, Building A. Huada Road, New claims Environmentally
Materials Industrial Park, Jingang Town, Zhangjiagang City, Jiangsu, China 
Attention: Jack Zhang Item 8 Service Location Shanghai, China Item 9 Customs and import
Responsibility of the Buyer. Item 10 Service of Notices The Seller: 
Address: Rm 302-309, 3F, Building A. Huada Road, New
Environmentally Materials Industrial Park, Jingang Town, Zhangjiagang City, Jiangsu, China 
Email: jack.zhang@horizonfuelcell.com 
The Buyer: 
Address: 10 Carriage Street, Building C, Honeoye Falls, NY 14472, USA 
Email: craig.knight@hyzonmotors.com 
Item 11 Seat of the arbitration Singapore. 
Item 12 Limit of liability 100% of the Price. 

  
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 SCHEDULE 2 PRICING SCHEDULE 
Prices are quoted in
USD, excluding all local or international taxes, duties and transportation charges, delivered as ex works Shanghai, China. 
May be provided by Horizon from time to
time, and is valid if mutually agreed between the parties. 
Payment terms 
Two
payment milestones are agreed: 
1) Payment of 50% deposit to be invoiced upon receipt of a Purchase Order; and 
2) Payment of 50% balance on proof of shipment. 

  
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 SCHEDULE 3 SPECIFICATIONS 
Product specifications
included on an order by order basis. 

  
 11

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