SEC Contract Filing

Filing Date: 2019-09-09

Document Content:
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<TYPE>EX-10.31
<SEQUENCE>3
<FILENAME>fcel-ex1031_526.htm
<DESCRIPTION>EX-10.31
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fcel-ex1031_526.htm
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 10.31</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">**&#160;<font style="font-weight:bold;font-style:italic;">Certain information in this exhibit (as indicated by &#8220;[&nbsp;&nbsp;]&#8221;) has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K because (i) it is not material and (ii) it would likely cause competitive harm if publicly disclosed.</font>&#160;**</p>
<p style="margin-bottom:39pt;margin-top:0pt;margin-right:62.18%;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="g1ztingr5oon000001.jpg" title="" alt="" style="width:218px;height:64px;"></p>
<p style="margin-top:1pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 16, 2019 </p>
<p style="margin-top:31pt;line-height:13pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[EMPLOYEE NAME]<br />[EMPLOYEE ADDRESS]<br /></p>
<p style="margin-top:24pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.1pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dear _______________:</p>
<p style="margin-top:8pt;line-height:14pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This letter agreement (&#8220;Agreement&#8221;) is to congratulate and thank you for all of your hard work and dedication to the Company, especially during our recent challenges. Your continued commitment to the Company is very important to us. In recognition of your hard work and dedication, and as an inducement for you to remain in the employment of the Company, we would like to offer you an incentive bonus to be paid out based on milestones achieved by the Company.</p>
<p style="margin-top:11pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.05pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:10pt;"></font>Duration</p>
<p style="margin-top:8pt;line-height:14pt;margin-bottom:0pt;margin-right:5.98%;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The term of this Agreement will begin on July 22, 2019 and end upon the achievement of the last milestone set forth below, unless terminated before that.</p>
<p style="margin-top:11pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.05pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:10pt;"></font>Continued Efforts</p>
<p style="margin-top:8pt;line-height:14pt;margin-bottom:0pt;margin-right:2.99%;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.05pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">You will continue to be employed as ______________, devoting your best professional efforts, time and skill to the performance of the duties originally undertaken under your current job description. You will continue to report to ______________, ______________.</p>
<p style="margin-top:11pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.05pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.<font style="margin-left:10pt;"></font>Compensation</p>
<p style="margin-top:8pt;line-height:14pt;margin-bottom:0pt;margin-right:2.99%;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Your annual base salary will remain $<font style="letter-spacing:-0.05pt;">______________</font>, and you will be paid in accordance with our normal payroll procedures.</p>
<p style="margin-top:11pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;letter-spacing:-0.05pt;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:10pt;"></font>Incentive Bonus</p>
<p style="margin-top:8pt;line-height:14pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>You will be eligible for an incentive bonus of up to $<font style="letter-spacing:-0.05pt;">______________</font>, subject to the terms described below. One third of that amount will be paid to you only if you are still employed by the Company on July 22, 2019. The remaining two thirds of that amount will be paid to you ratably as set forth below only