Document:

nene_ex101.htm

EXHIBIT 10.1

Modification No. **** to CRADA No. ****

 

	
Facility Operator:  

	Alliance for Sustainable Energy, LLC (“Alliance”)
	 	National Renewable Energy Laboratory

 

Participant:  New Energy Technologies, Inc.

Period of Performance:  ****THROUGH ****

This modification adds **** to the period of performance, and $**** funds-in to the agreement value.

Except as stated herein, all terms and conditions of the Cooperative Research and Development Agreement shall remain in full force and effect without change.  In the event of any conflict between the terms of the subject Agreement and this Modification, the provisions of this Modification shall take precedence.

ARTICLE II, “Joint Work Statement” is modified to include Appendix A “Joint Work Statement for Modification No ****, which is attached hereto and incorporated by reference.

ARTICLE III, “Term, Funding, and Costs,” Paragraph A, is modified to reflect a new completion date of ****.

ARTICLE III,  “Term, Funding, and Costs,” Paragraph B, is modified to add a Participant funds-in contribution of $****.    Total contributions, including those previously provided under this Agreement, are as follows:

 

	 	Prior Contributions	 	Modification No. ***   	 	Total
	 	 	 	 	 	 
	Participant In-Kind Contribution:  	$****     	 	$****     	 	$****     
	Participant Funds-In Contribution: 	$****     	 	$****     	 	$****     
	Government In-Kind Contribution:	$****      	 	$****      	 	$****      
	CRADA TOTAL VALUE  	$****     	 	$****     	 	$****     

 

APPENDIX A-JOINT WORK STATEMENT: The attached Appendix A “Joint Work Statement for Modification No. ****” is hereby added to the Agreement.

The parties have indicated their acceptance of this Modification No. **** to Agreement No****

between New Energy Technologies, Inc. and Alliance, operator of the National Renewable Energy Laboratory by signature below.  This Modification shall not be effective until approved by the U.S. Department of Energy.

	
Accepted:

	 	
Accepted:

	 
	
New Energy Technologies, Inc.

	 	
Alliance for Sustainable Energy, LLC

	 
	 	 	 	 
	By:	_______________________________	 	By:	_______________________________	 
	 	 	 	 
	
Name:  John A. Conklin

	 	
Name:  Bobi Garrett

	 
	 	 	 	 
	Title:   President & CEO, Director	 	
Title: Deputy Laboratory Director 

Strategic Programs & Partnerships

	 
	 	 	 	 
	
Date: January 9, 2012

	 	
Date: _______________________________

	 
	  	 	  	 
	
Accepted:

	 	  	 
	
DOE Approval, if scope and/or dollar increase

	 	  	 
	 	 	 	 
	
By:     _______________________________

	 	  	 
	
Date:  _______________________________

	 	  	 

 

  

1

  

 

National Renewable Energy Laboratory

Cooperative Research and Development Agreement

Appendix A—Joint Work Statement-

Modification No. ****

CRADA # ****

Title: OPV Electricity-Generating ****

Abstract of CRADA work:

New Energy Technologies, Inc. (NET) is continuing to develop ****. Jointly NET and NREL will advance the **** by enhancing ****, ****, **** technology. These objectives will be completed following a multi-step approach.

Participant Name and Address:

New Energy Technologies Inc.

9192 Red Branch Road, Suite 110

Columbia, MD 21045

(800) 213-0689

 

	Participant Type	 
	 	 
	Foreign  	o
	 	 
	University    	o
	 	 
	Small Business   	x
	 	 
	Large Business  	o
	 	 
	State & Local  	o
	Government	 
	 	 
	Not-for-Profit    	o

 

Schedule

The Period of Performance for this effort will continue until ****.

Purpose

Work under this CRADA will be directed towards enhancing the ****, ****, and **** technology.

Task Descriptions and Estimated Completion Dates

****

Goals:

Modification of ****

Achieve improved **** of ****

****to maximize ****

  

2

  

 

	
1.

	
**** system to **** – The **** of the current ****. The proposed modification of the ****, which could allow use of ****, should allow sufficient **** to obtain ****. 

Subtasks:

 

	
a. 

	
**** of an ****

	

b. 

	

Implementation of ****

	

c. 

	

Obtaining safe-to-work status for **** 

 

Milestones: 

Complete ****

Implementation of ****

**** of **** 

Staff: NET: **** ; NREL****

Effort: NET: ****, NREL: **** 

 

Schedule:

****: **** after **** of CRADA Phase 2

Implementation: **** after **** of CRADA Phase 2

****: **** after **** of CRADA Phase 2

 

	
2.

	
Optimization of **** – This tasks focuses on utilizing the **** to ****, and develop **** to yield **** of the various ****. 

Subtasks:

 

	
a. 

	
Develop **** for ****

	

b. 

	

Develop **** for ****

	

c. 

	

Develop **** for ****

	

d. 

	

Develop **** for ****

 

	 	

Milestones:

Obtain ****

Obtain ****

Obtain ****

Obtain ****

Obtain ****

Staff: NET: ****; NREL: ****

Effort: NET: ****, NREL: **** 

Schedule: 

****: **** after ****

****: **** after ****

****: **** after ****

****: **** after ****

****: **** after ****

 

	
3.

	
Optimization of **** – Utilizing the **** and **** developed for ****, **** the **** and ****. 

Subtasks:

 

	
a. 

	
Optimize **** of ****

	

b. 

	

Develop **** method

	

c. 

	

Develop **** method

 

	
 

	

Milestones: 

Fabricate ****

Demonstrate ****

Develop ****

Demonstrate ****

Demonstrate ****

Staff: NET: ****; NREL: ****

Effort: NET: ****, NREL****

Schedule:

Optimized ****: ****

****: ****

****: **** 

**** Work

 

  

3

  

 

	 	

Goals:

	 	
Optimization of ****, ****

	 	
Identification of **** with ****

	
1. 

	
**** Materials **** – In this task, **** materials will be **** for ****. These **** may involve **** including but not limited to: ****, and **** of ****. 

Subtasks:

 

	

a. 

	

**** evaluation of **** materials

	

b. 

	

Detailed **** of **** materials

	

c. 

	

**** evaluation of **** materials 

Milestones: **** evaluating **** potential of **** material ****

Staff: NET: ****,; NREL: ****

Effort: **** depending on materials; NET: ****; NREL: ****

Schedule: **** depending on **** of materials: **** after ****of CRADA

	
2. 

	
Testing **** – This task focuses on the ****, **** materials for ****, ****, and ****. **** materials and **** will be **** in ****, along with any necessary supporting ****. 

Subtasks:

	
a. 

	
**** evaluation of **** materials

	

b. 

	

**** evaluation of ****

	

c. 

	

**** of **** materials as required 

Milestones: **** evaluating the **** materials and **** as compared to ****

Staff: NET: ****; NREL: ****

Effort: **** depending on **** of material****; NET: ****; NREL: ****

Schedule: ****: dependent on **** of **** materials and ****; **** after **** of CRADA 

 

**** and **** 

 

Goals:

**** of relative ****

**** of favorable ****

Establishment of ****

 

	

1. 

	

Testing**** – In this task NREL will **** the **** of the ****, and their ****. This will **** relative **** for the **** materials under ****. 

Subtasks:

 

	

a. 

	

**** of **** for the various material ****

	

b. 

	

**** of **** 

Milestone: **** device **** material ****

Staff: NET: ****; NREL: ****

Effort: **** NET: ****; NREL: ****

Schedule: **** after ****of CRADA

	
2. 

	
Testing**** – **** of the **** of **** and ****. This will allow **** for the **** materials ****. 

Subtasks:

	
a. 

	
**** of **** for the **** material ****

	

b. 

	

**** of **** 

Milestone: **** device **** material ****

Staff: NET: ****; NREL: ****

Effort: ****, depending on **** material**** ****; NET: ****; NREL: ****

Schedule: **** depending on **** of materials: **** after **** of CRADA

 

  

4

  

 

	
3. 

	
**** Testing – The focus of this task will be to ****, in order to **** that ****while also ****. 

Subtasks:

	
a. 

	
**** of **** to **** 

Milestone: **** of ****

Staff: NET: ****; NREL: ****

Effort: NET: ****; NREL: ****

Schedule: **** after **** of CRADA

	
4. 

	
**** Testing – In this task we will **** using the ****, including both ****. 

Subtasks:

	
a. 

	
**** of **** of ****

	

b. 

	

**** of **** of **** 

Milestone:

**** of ****

**** of ****

Staff: NET: ****; NREL: ****

Effort: NET: ****; NREL: ****

Schedule:

**** on ****: **** after **** of CRADA

****: **** after **** of CRADA 

OPV ****

Goals: **** of **** for ****

 

	
1. 

	
**** – In order to keep its ****, NET is ****. **** NET’s OPV material ****, NREL will **** OPV **** under this task to enable NET to ****, including: ****; and **** of NET **** materials. 

Subtasks:

	
a. 

	
**** development

	

b. 

	

Developing ****

	

c. 

	

Developing **** 

Milestone – Develop robust ****

Staff: NREL: ****; NET: ****

Effort: NREL ****

Schedule: **** after **** of CRADA

	
2. 

	
**** Attractive OPV **** – The objective of this task is to **** OPV **** that ****: **** systems. In this task, NET will **** material **** in these **** and submit **** to NREL for ****. OPV materials **** the ****, and not otherwise ****, will be **** to NET for ****. The **** of OPV **** will be an ****. This **** may also include ****. 

Subtasks:

	
a. 

	
Submission of **** OPV ****

	

b. 

	

Running **** in OPV ****

	

c. 

	

**** OPV ****

	

d. 

	

****

	

e. 

	

Running**** on NET**** 

Milestone – **** of **** to NET

Staff: NET: **** ; NREL: ****

Effort: ****: NET: ****, NREL: ****

Schedule: **** of **** after ****; **** of **** after ****

 

  

5

  

Funding Table

	
Estimated Costs

	
NREL

Shared Resources

	
Participant

Shared Resources

	
Participant

Funds In

	
Totals

	
Year 1

	
$****

	
$****

	
$****

	
$****

	
Year 2

	
$****

	
$****

	
$****

	
$****

	
TOTALS

	
$****

	
$****

	
$****

	
$****

	
Fed Admin Charge on Funds-in

	
----

	
----

	
****

	  

DOE Mission Area to benefit from this CRADA:

 

	Energy     	x	 	 
	Environmental Quality  	o	 	 
	Science  	o	 	 
	Other, name:   	o	 	 

 

CRADA benefit to DOE, Participant, and US Taxpayer:

The technology developed under this CRADA would enable the Participant to **** and **** with **** and ****.   In that the technology **** under the CRADA would facilitate the **** and **** of ****, it is aligned with the objectives of the DOE National Solar Energy Programs.   The CRADA will benefit the U.S. taxpayer by promoting the adoption of clean energy technology and contributing to the growth and viability U.S. **** industry.

DOE Program Manager:  Minh Le

202-287-1372

CRADA format is Modular CRADA. If other, such as multilab or USIC, identify: N/A .

Special Considerations

Background Intellectual Property:

No o          Yes  x If yes, list: See attached Appendix B

Is Participant interested in licensing BIP at this time:

No   o      Yes   o  x  To be determined

If yes, identify any known special issues with a potential license (i.e., BIP still in ROI stage, or already exclusively licensed, or has broader applications than scope of CRADA, or in contention right now with another partner. If none, write “NONE.”).

 

  

6

  

Are human or animal subjects to be used as part of this CRADA?

No  x      Yes  o

Have all necessary ES&H and quality (NEPA) reviews been completed?

Yes  x    No  o (if not, explain)

Are there any organizational or personal conflicts of interest associated with this CRADA?

No   x     Yes   o (explain)

NREL maintains on file signed COI certificates for each employee with a substantial role in this CRADA.

Will export controlled information be produced?

No   x     Yes   o (if yes, identify)

Fairness of Opportunity requirements have been satisfied by:

x Participant approached laboratory

o Participant responded to FedBizOpps announcement

o Participant was contacted by laboratory after or during broad public announcement or solicitation

For 100% funds-in CRADAs, the Participant has been notified of other types of technology transfer agreements, such as Work for Others.

o Yes     o No    x N/A

Did the Participant require any substantive changes to the Modular CRADA or any changes to double-underlined language?

No   x      Yes   o  If yes, attach copies of the proposed modified articles. If substantively altered, attach Participant’s US Competitiveness justification.

Additional Special Considerations: NONE

 

 

7equalofferletter.htm

                                                                              

                  4801 Gaillardia Parkway | Suite 325 Oklahoma City, OK 73142

                                                   main: 405-242-6000

                                                            www.equalenergy.ca     fax: 405-242-6099

January 11, 2013

 

Private and Confidential

Scott A. Smalling

4905 N.W. 153rd Street

Edmond, OK

73013

Dear Scott:

Further to our recent discussions, Equal Energy US Inc. (“Equal”) is pleased to offer you the position of Vice President and Chief Financial Officer reporting to the President and Chief Executive Officer under the following terms and conditions:

	
1.  

	
An annual salary of $190,000.

	
2.  

	
Commencement date: February 1, 2013 or a mutually agreeable date. Please indicate your start date at the end of this letter.

	
3.  

	
You will be eligible to earn a 2013 bonus pursuant to our Bonus Plan. This bonus is based on corporate and individual performance and will be paid during Q1 2014. Please note that any bonus is fully within the discretion of the board of Directors and not payable until approved. Bonus earned for 2013 will be prorated based on your employment date and partial year salary.

	
4.  

	
You will receive long term incentive grants which will consist of:

	
a.  

	
Restricted Shares – a three year grant of 85,000 restricted shares under the terms of the Equal Energy Restricted Share and Performance Share Incentive Plan (“the Plan”). This grant will vest and be issued on the next 3 anniversaries of the grant (28,334 in 2014, 28,333 in 2015 and 28,333 in 2016) subject to approval by Equal’s Board of Directors.

	
b.  

	
Stock Options – a four year stock option grant of 34,500 Equal shares under the terms of the Equal Energy Stock Option Plan. One third of this grant will vest on the next 3 anniversaries of the grant (11,500 in 2014, 11,500 in 2015 and 11,500 in 2016) and the grant will expire on the anniversary of the grant in 2017. The strike price of your grant will be based on the closing trading price of the Equal shares on the last trading day preceding the date of the grant, subject to approval by Equal’s Board of Directors.

Copies of Equal’s Restricted Share and Performance Share Incentive Plan and Stock Option plan are included with this letter.

	
5.  

	
Five (5) weeks of vacation per year. Your 2013 vacation entitlement will be prorated based on your commencement date.

	
6.  

	
Upon approval of the Board of Directors, we will enter into an Executive Employment Agreement with you which will compensate you in the event your employment is terminated due to a Change of Control of for reasons other than voluntary resignation or just cause. Under the agreement, you will be entitled to a termination payment equal to 18 months base salary plus any bonus earned on a pro rata basis.

	
7.  

	
Covered parking will be provided.

 

 

	
8.  

	
You will be eligible on the first of the month following your date of hire for full participation in the Equal health insurance plan, which may be amended from time to time. You will also be eligible for full participation in the other benefit plans generally available to Equal U.S. employees, which may also be amended from time to time. Please refer to the enclosed Benefit Summary for additional information.

	
9.  

	
Inclusion in the 401(k) Plan and the Savings Plan. The 401(k) Plan has a safe harbor non elective portion where the company contributes 3% of your salary. If you choose to defer up to 6% of your salary to the 401(k) plan the company will contribute up to an additional 3% in cash into the Equal Energy Savings Plan which will be used to purchase Equal Energy company stock on the open market. Information on the 401(k) and Equal Energy Savings Plan is included with this letter.

	
10.  

	
You authorize and we will conduct by way of an independent third party investigator a background check. The background check is required for SOX compliance purposes. We anticipate this process to be simply a formality however, an unsatisfactory background check will result in withdrawal of this offer of employment or if you have already commenced employment it will result in termination of your employment for cause. We would not undertake this step without discussion and confirmation of the particulars with you. After you have accepted this offer of employment you will receive an email with online forms to complete for this background check.

Scott, we are excited about the future of Equal and look forward to you joining our executive team. Please sign below to indicate your acceptance and return one copy to me by 5:00 p.m. CST on January 17, 2013. The second copy is for your records. Should you have any questions, please contact me at (403) 536-8373.

Yours truly,

EQUAL ENERGY US, INC.

/s/ Don Klapko

Don Klapko

President and CEO

Agreed to and accepted this 17th day of January, 2013.

/s/ Scott A. Smalling                                                                                                         February 1, 2013

____________________________________________        ___________________________________

Signature – Scott A. Smalling                                                                                          Employment Commencement Date

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