SEC Contract Filing

Filing Date: 2021-07-22

Document Content:
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<TYPE>EX-10.15
<SEQUENCE>15
<FILENAME>d203747dex1015.htm
<DESCRIPTION>EX-10.15
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<TITLE>EX-10.15</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.15 </B></P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">

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 </P> <P STYLE="font-family:Times New Roman; font-size:0.5pt"><FONT COLOR="#FFFFFF">Principles </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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. </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">The following principles of cooperation provide the foundation for commercial contracting that will follow the Framework Supply Agreement terms stated on the following pages:
</FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">Horizon is an established company manufacturing fuel cells of various sizes and power capacities, with a strong focus on automotive fuel cell systems. </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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&#146;s length basis. </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">The formal contract to be established is intended to protect
both parties&#146; 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. </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">In the longer term, there may be cases where HYZON chooses to purchase fuel cells,
systems or <FONT STYLE="white-space:nowrap">sub-assemblies</FONT> from Horizon under terms to be agreed, regard less of HYZON ability to manufacture similar systems.
</FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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. </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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. </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">Fundamental Terms of Supply Cooperation:
</FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">1) Horizon agrees to supply to HYZON to the best of its ability at all times;
</FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">2) Horizon agrees to treat HYZON as preferred export customer for Horizon China-based manufacturing capabilities; </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">3) HYZON to enjoy competitive prices and commercial terms for comparable products and materials;
</FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">4) HYZON to uphold reasonable commercial payment arrangements, and be held to account for such; </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">5) Horizon to report monthly production capacity to HYZON, who in return must report monthly sales forecasts for equipment to be purchased from Horizon; </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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; </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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 <FONT STYLE="white-space:nowrap">sub-assemblies</FONT> that may be procured by Horizon on behalf of HYZON; </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">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. </FONT><br><FONT STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">Framework Supply Contract Template </FONT><br><FONT
STYLE="font-family:Times New Roman; font-size:0.5pt" COLOR="#FFFFFF">The following Framework Supply Contract is provided as a commercial contracting template for the supply of goods from Horizon to HYZON and HYZON&#146;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. </FONT></P>
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