Document:

EXHIBIT 10.1
​
​
AMENDMENT NO. 2 to JOINT DEVELOPMENT AGREEMENT 
Between
FUELCELL ENERGY, INC.
and
EXXONMOBIL TECHNOLOGY AND ENGINEERING COMPANY
​
​
ExxonMobil Technology and Engineering Company f/k/a ExxonMobil Research and Engineering Company (“ExxonMobil”) and FuelCell Energy, Inc. (“FCE”) are Parties to the Joint Development Agreement with an Effective Date of October 31, 2019 and an ExxonMobil Agreement No. LAW-2019-3608 (“Agreement”).  
​
WHEREAS, the Agreement was amended on October 31, 2021 to extend the term of the Agreement to April 30, 2022 enabling the Parties to further evaluate the incorporation of design improvements in the current fuel cell design; and
​
WHEREAS, the Parties now wish to further amend the Agreement to allow for continuation of research that would enable the Parties to i) gain an improved understanding of the fuel cell operating envelope for various carbon capture applications; and ii) complete data collection to support the project gate decision to use the developed technology in an FCE fuel cell module demonstration for capturing carbon at ExxonMobil’s Rotterdam facility; and
​
WHEREAS, the Parties agree to conduct a joint market study, each Party bearing its own costs, to define application opportunities, commercialization strategies, development requirements, and identify partners for potential pilot/demonstration projects and assess fuel cell/stack/module manufacturing scale-up and cost reduction, with a target completion date on or before October 31, 2022.
​
​
To accomplish this, effective April 30, 2022, the Parties hereby agree as follows:
​
​
	1.
	ExxonMobil Technology and Engineering Company shall replace all references to ExxonMobil Research and Engineering Company in the Agreement.

​
2.Article 12.01 Term. shall be deleted in its entirety and replaced with the following:
​
12.01Term.  Unless sooner terminated in accordance with this Article, this Agreement will continue in full force and effect beginning on the Effective Date and ending thirty-eight (38) months thereafter on December 31, 2022 (“Term”).
​
3.Article 10.01 Project Costs, a) shall be deleted in its entirety and replaced with the following:
​
10.01 Project Costs
​

a)ExxonMobil will reimburse FCE for Research Costs (i.e., cumulative FTE Costs and Direct Costs) for each Project subject to total caps set forth herein and in the relevant Project Description.  Research Costs of FCE paid for by ExxonMobil will be limted to FTE Costs for time actually spent on the Program and Direct Costs actually incurred and approved in advance by the Steering Committee.  The cumulative Research Costs for the Program will not exceed fifty million United States dollars ($50,000,000.00) over the Term of the Agreement (“Total Research Cost”).  ExxonMobil will reimburse FCE for Research Costs after receipt of invoices on a monthly basis.  Invoices for Direct Costs will be supported by relevant third party invoices received by FCE documenting such costs.  Materials shall be invoiced as incurred and subject to a thirty percent (30%) service fee.  All such payments will be made after ExxonMobil’s receipt of invoices in accordance with invocing procedures specficied in Paragraphs 10.01(b)-(e) and in Paragraph 10.04 (Invoices).
​
4.Article 2.03 shall be deleted in its entirety and replaced with the following:
​
2.03 Work Exclusivity/Independent Work. During the Term of this Agreement, FCE will not conduct any Work using Generation l Technology in Carbon Capture Applications or any Work using Generation 2 Technology, independently or with third parties outside this Agreement, without prior written approval from ExxonMobil. Notwithstanding the foregoing, ExxonMobil hereby grants approval for FCE solely to conduct Authorized Work using Generation l Technology with Authorized Third Parties for Carbon Capture Applications and any Work using Generation 2 Technology solely for Power Applications and Hydrogen Applications. For the avoidance of doubt, the Parties agree that with respect to Generation 2 Technology, FCE may conduct non-confidential exploratory discussions with third parties regarding possible demonstration or project opportunities as part of its joint market study, and as defined therein, with Exxonmobil, without prior written approval.
​
Except as modified herein, all provisions of the Agreement remain unchanged.  
​
This Amendment may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument.  Where provided for in applicable law, this Amendment may be executed and delivered electronically.  If executing this Amendment using a handwritten signature, a Party may deliver a copy of such signature via electronic transmission and may provide the other Party a duplicate original so each Party retains an original for its records.
​
Each Party has caused this Amendment to be signed by its authorized representative.
​
​
	​
​

	

	​

	​
​

	

	FUELCELL ENERGY, INC.
	EXXONMOBIL TECHNOLOGY AND ENGINEERING COMPANY

	​
By:
	/s/ Jason Few
	​
	​
By:
	/s/ Prasanna V. Joshi

	​
	​
	​
	​
	​

	Name:
	Jason Few
	​
	Name:
	Prasanna V. Joshi

	​
	​
	​
	​
	​

	Title:
	President and CEO
	​
	Title:
	Vice President, Low Carbon Solutions Technology

	​
	​
	​
	​
	​

	Date:
	April 29, 2022
	​
	Date:
	April 29, 2022

​

Page 2 of 2Exhibit 10.1

 

COMMUNITY HEALTHCARE TRUST

INCORPORATED

 

SECOND AMENDED AND RESTATED

ALIGNMENT OF INTEREST PROGRAM

 

1.             Purpose. The Community Healthcare
Trust Incorporated 2014 Incentive Plan (the “Plan”) was adopted to promote the interests of Community Healthcare Trust Incorporated
(the “Company”) and its stockholders by

 

·      strengthening
the Company’s ability to attract, motivate, and retain those Eligible Persons upon whose judgment, initiative, and efforts the financial
success and growth of the business of the Company largely depend;

 

·      offering
such Eligible Persons additional incentives to put forth maximum efforts for the success of the business; and

 

·      affording
such Eligible Persons an opportunity to acquire a proprietary interest in the Company through stock ownership and other performance-based
rights.

 

This Second Amended and Restated Alignment of Interest
Program is being adopted in accordance with the Plan and is intended to further the purposes of the Plan by providing incentives to Eligible
Persons to receive restricted stock with long-term vesting. The Committee believes that utilizing restricted stock with long-term vesting
aligns the interests of Participants with those of the Company’s shareholders.

 

2.             Definitions. Whenever
capitalized terms are used herein, but not defined, they shall have the meanings attributed to such terms in the Plan.

 

3.             Participation. The
Participants in this Second Amended and Restated Alignment of Interest Program are the Eligible Persons who have been named by the Committee
to participate in this program.

 

4.             Awards. Each
year, Participants may (i) elect to reduce Compensation that might be payable in cash the subsequent year (the “Reduction Year”)
by a percentage amount to be applied to the acquisition of restricted stock (“Acquisition Shares”) and (ii) receive an
Award based upon a multiple of the Acquisition Shares determined by the restriction period selected by the Participant (the “Restriction
Multiple”).

 

For the avoidance of doubt, Acquisition Shares
are restricted shares of Common Stock subject to a substantial risk of forfeiture and are not Awards.  Accordingly, Acquisition Shares
issued hereunder shall not be subject to the percentage limitation set forth in Section 3.1 of the Plan; provided, that any Award
issued to an Eligible Person due to the cliff vesting of Acquisition Shares shall be subject to such percentage limitation set forth in
Section 3.1 of the Plan.

 

The minimum and maximum percentage of each Compensation
type that a Participant may elect to be reduced and applied to Acquisition Shares shall be determined by the Committee. See Exhibit A
for the current percentages.

 

The amount of Base Salary, cash bonus, retainer,
fees or other compensation applied to the acquisition of Restricted Stock shall reduce the Base Salary, cash bonus, retainer, fees or
other compensation of the Participant for the Reduction Year.

 

The “Determination Date” shall be January 15
of the year following the Participant’s effective election, or, if such date is not a trading day, then the trading day immediately
preceding January 15. Notwithstanding the foregoing, the following two exceptions apply:

 

(i) for a Participant’s initial year
of participation in the Program, the Determination Date shall be the date that is the fifteenth (15th) business day following the Participant’s
effective election, and

 

     

     

    

 

(ii) if the dollar amount of any reduced compensation
has not been determined by January 15, then the Determination Date shall be the tenth (10th) business day following the date on which
the amount of such compensation (e.g., bonus) is fixed and determined.

 

Effective as of November 1, 2016, the Board
reserved an aggregate of 500,000 shares of Common Stock to be issued to Participants upon election to receive Acquisition Shares. Effective
as of May 5, 2022, the Board hereby reserves an additional 500,000 shares of Common Stock (for an aggregate of 1,000,000 shares of
Common Stock) to be issued to Participants upon election to receive Acquisition Shares.  The number of Acquisition Shares granted
to a Participant shall be determined as follows:

 

(i)  For elections made prior to the date
the Company’s Initial Public Offering was completed, May 28, 2015, (“IPO Effective Date”), the number of Acquisition
Shares shall be determined as of the IPO Effective Date by dividing the total of the Participant’s elected reduced Salary or retainer,
fees for the remainder of such year by the price per share sold to the public by the underwriters of the Company’s Initial Public
Offering; or

 

(ii),  For all periods after the IPO Effective
Date, the number of Acquisition Shares shall be determined as of the Determination Date by dividing the total of the Participant’s
elected reduced Salary, cash bonus, retainer, fees or other compensation by the average closing price of the common stock for the 10 trading
days immediately preceding the Determination Date.

 

The Restriction Multiple and restriction period
shall be established by the Committee in its sole discretion. See Exhibit A for the current multiples. The Restriction Multiple shall
be determined by Participant’s selection of a restriction period.

 

Each Participant must deliver written notice of
Participant’s election to obtain an Award pursuant to this Section 4 to the Director of Human Resources of CHCT, or other person
appointed by the Committee, prior to the end of the last business day before the beginning of the Reduction Year. The notice shall contain
the percentage reduction and the restriction period selected by the Participant. Unless otherwise approved by the Director of Human Resources
of CHCT, this election shall be irrevocable by the Participant.

 

The product of the Restriction Multiple multiplied
by the Acquisition Shares, rounded to the nearest share, shall be the number of shares constituting an Award (the “Award Shares”)
pursuant to this Section 4. See Exhibit B for illustrative examples of the calculations. Acquisition Shares and Award Shares
determined pursuant to this Section 4 shall be delivered to each Participant as soon as administratively feasible, but generally
prior to the record date for payment of the dividend declared in January of the Reduction Year. Each Participant must be an Eligible
Person at the date of delivery of the Award to receive the Award Shares.

 

The Committee shall have the discretion to alter
the administration of awards under this Second Amended and Restated Alignment of Interest Program at any time prior to the grant of any
such award, in accordance with Section 4.3 of the Plan.

 

5.             Termination
of Employment. In the event of termination of a Participant’s employment, the disposition of any unvested Awards will
be determined in accordance with such Participant’s written employment agreement and Award Agreement, if applicable. If a Participant
is not employed pursuant to a written employment agreement and voluntarily terminates his or her employment, or is terminated for Cause
(as such term is defined in the Plan), such Participant will forfeit any unvested Awards. If a Participant is not employed pursuant to
a written employment agreement and such employment is terminated by the Company without Cause, or by reason of Participant’s death,
disability or retirement (upon attainment of eligibility to retire in accordance with any applicable Company policy then in effect) all
unvested Awards will continue to vest pursuant to the Restricted Stock Agreement such stock is subject to. The provisions of Section 7
of the Plan will govern in the event of a Change of Control and are not intended to be altered by this Section 5. Notwithstanding
the foregoing, for any Participant who is subject to Code Section 162(m) compensation restrictions, no unvested Awards which
are intended to be performance-based compensation under Code Section 162(m) shall vest unless the performance goals have been
satisfied on a pro rata basis by the termination date.

 

     

     

    

 

6.             Amendments. The
Committee may from time to time amend or modify this Second Amended and Restated Alignment of Interest Program, provided that no such
action shall adversely affect Awards previously granted hereunder.

 

7.             Survival. This
Second Amended and Restated Alignment of Interest Program shall continue in effect as long as the Plan is in effect or until terminated
by the Committee.

 

     

     

    

 

EXHIBIT A

Initial Percentages/Multiples Pursuant to

Second Amended and Restated

Alignment of Interest Program

 

Range of Elective Deferral Percentages

 

	Compensation Type	 	Minimum	 	 	Maximum	 
	Base Salary	 	 	0.00	%	 	 	100.00	%
	Cash Bonus	 	 	0.00	%	 	 	100.00	%
	Other Compensation	 	 	0.00	%	 	 	100.00	%

 

Employee Restriction Multiples

 

	Compensation Type	 	3 Year Restriction	 	5 Year Restriction	 	8 Year Restriction	 
	Base Salary	 	0.3	X	0.5	X	1.0	X
	Cash Bonus	 	0.3	X	0.5	X	1.0	X
	Other Compensation	 	0.3	X	0.5	X	1.0	X

 

Director Restriction Multiples

 

	Compensation Type	 	1 Year Restriction	 	2 Year Restriction	 	3 Year Restriction	 
	Retainer	 	0.2	X	0.4	X	0.6	X
	Fees	 	0.2	X	0.4	X	0.6	X
	Other Compensation	 	0.2	X	0.4	X	0.6	X

 

     

     

    

 

EXHIBIT B

Examples

 

Employee/Contractor Example

 

	 	 	 	 	 	Elected	 	 	 	 	 	Current	 	 	 	 	 	 	 	 	Elected	 	 	 	 	 	Alignment	 	 	Total	 
	 	 	Initial Cash	 	 	Deferral	 	 	Deferred	 	 	Year Cash	 	 	Share	 	 	Acquisition	 	 	Deferral	 	 	Restriction	 	 	of Interest	 	 	Restricted	 
	 	 	Amounts	 	 	Percent	 	 	Amount	 	 	Received	 	 	Price	 	 	Shares	 	 	Period	 	 	Multiple	 	 	Award	 	 	Shares	 
	Base Salary	 	 	150,000	 	 	 	25	%	 	 	37,500	 	 	 	112,500	 	 	$	20.00	 	 	 	1,875	 	 	 	5 year	 	 	 	0.5	 	 	 	937.5	 	 	 	2,812.50	 
	Cash Bonus	 	 	50,000	 	 	 	100	%	 	 	50,000	 	 	 	0	 	 	$	20.00	 	 	 	2,500	 	 	 	3 year	 	 	 	0.3	 	 	 	750.0	 	 	 	3,250.00	 
	Other Compensation	 	 	50,000	 	 	 	50	%	 	 	25,000	 	 	 	25,000	 	 	$	20.00	 	 	 	1,250	 	 	 	8 year	 	 	 	1	 	 	 	1,250.0	 	 	 	2,500.00	 
	Totals	 	 	250,000	 	 	 	 	 	 	 	112,500	 	 	 	137,500	 	 	 	 	 	 	 	5,625	 	 	 	 	 	 	 	 	 	 	 	2,937.5	 	 	 	8,562.50	 

 

Director Example

 

	 	 	 	 	 	Elected	 	 	 	 	 	Current	 	 	 	 	 	 	 	 	Elected	 	 	 	 	 	Alignment	 	 	Total	 
	 	 	Initial Cash	 	 	Deferral	 	 	Deferred	 	 	Year Cash	 	 	Share	 	 	Acquisition	 	 	Deferral	 	 	Restriction	 	 	of Interest	 	 	Restricted	 
	 	 	Amounts	 	 	Percent	 	 	Amount	 	 	Received	 	 	Price	 	 	Shares	 	 	Period	 	 	Multiple	 	 	Award	 	 	Shares	 
	Annual Retainer	 	 	25,000	 	 	 	100	%	 	 	25,000	 	 	 	0	 	 	$	20.00	 	 	 	1,250	 	 	 	3 year	 	 	 	0.6	 	 	 	750.0	 	 	 	2,000.00	 
	Meeting Fees	 	 	7,500	 	 	 	100	%	 	 	7,500	 	 	 	0	 	 	$	20.00	 	 	 	375	 	 	 	2 year	 	 	 	0.4	 	 	 	150.0	 	 	 	525.00	 
	Other Compensation	 	 	10,000	 	 	 	0	%	 	 	0	 	 	 	10,000	 	 	$	20.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0.0	 	 	 	0.00	 
	Totals	 	 	42,500	 	 	 	 	 	 	 	32,500	 	 	 	10,000	 	 	 	 	 	 	 	1,625	 	 	 	 	 	 	 	 	 	 	 	900.0	 	 	 	2,525.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]