SEC Contract Filing

Filing Date: 2025-05-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>fcel-20250430xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.10.0.134--><!--Created on: 5/6/2025 06:29:18 PM (UTC)--><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;">Exhibit 10.1</p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><img src="fcel-20250430xex10d1001.jpg" alt="Graphic" style="display:inline-block;height:76.8pt;width:177.15pt;"></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">April 30, 2025</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt;">Michael Hill</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt;">192 Moe Road</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt;">Clifton Park, NY &#160;12065</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Dear Mike:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">This employment agreement (this &#8220;Agreement&#8221;) is made and entered into effective as of May 5, 2025 (the &#8220;Effective Date&#8221;), by and between FuelCell Energy, Inc., a Delaware corporation (the &#8220;Corporation&#8221;), and you.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">WHEREAS, the Corporation desires to hire you as its Executive Vice President and Chief Commercial Officer and you desire to accept such position, commencing as of the Effective Date;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">WHEREAS, the Corporation and you desire to enter into this Agreement to set forth the terms and conditions of your employment relationship; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">WHEREAS, you acknowledge that by executing and delivering this Agreement, you will obtain certain rights, compensation, and benefits greater than those that you previously received from the Corporation and that, accordingly, such rights, compensation, and benefits constitute valid consideration to you.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties, the parties agree as follows:</p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration-line:none;text-transform:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;">I.</td><td style="padding:0pt;"><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Position and Duties</u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">.</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">You shall perform all duties, consistent with your position as Executive Vice President and Chief Commercial Officer in order to advance the Corporation&#8217;s affairs and related business efforts, assigned or delegated to you by the Board of Directors of the Corporation (the &#8220;Board&#8221;) or the Corporation&#8217;s President and Chief Executive Officer (&#8220;CEO&#8221;) and normally associated with the position of Executive Vice President and Chief Commercial Officer. &#160;You shall devote all of your full business time, attention, energies, skills, and efforts to the advancement of the interests and business of the Corporation. &#160;Your position will be eligible for remote work. You will be required to travel to the Corporation&#8217;s headquarters in Danbury and Torrington, Connecticut and to current and potential customer sites globally as needed. &#160;During the initial months of being a new team member and a member of the Executive Leadership Team, you will be expected to spend much of your work time in Danbury and Torrington, Connecticut. &#160;</p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-afte