SPONSORED RESEARCH AGREEMENT SECOND AMENDMENT

Exhibit 10.1

SPONSORED RESEARCH AGREEMENT
SECOND AMENDMENT

This Second Agreement is entered into as of the date of last signature below, by and between The Regents of the University of California, on Behalf of its Los Angeles Campus, having an address at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ (“University”), and NewHydrogen, Inc., a wholly owned subsidiary of BioSolar, Inc., having an address at ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (“Sponsor”).

WHEREAS, University and Sponsor entered into a Sponsored Research Agreement on December 14, 2020 and previously amended on March 1, 2021 (“Agreement”);

WHEREAS, University and Sponsor wish to amend the Agreement as set forth below (“Second Amendment”);

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, University and Sponsor agree as follows:

1. Section 4 – “Research Funding” is deleted in its entirety and replaced with the following: The cost to Sponsor for University’s performance hereunder will be $1,897,368.

2. Exhibit A – “Scope of Work” shall be replaced with “Exhibit A-2” attached.

3. Exhibit B – “Payment Schedule” shall be replaced with “Exhibit B-2” attached.

All other terms and conditions shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Second Amendment by their duly authorized representatives for good and valuable consideration.

SPONSOR		THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, ON BEHALF OF ITS LOS ANGELES CAMPUS
(Signature)		(Signature)
By: ▇▇▇▇▇ ▇▇▇		By: ▇▇▇▇ ▇▇▇▇▇▇▇
Date: _______________________________________		Date: _______________________________________

Exhibit A-2

Deliverable(s): A final project report detailing the optimal design and synthesis of transition metal doped Co₃O₄ (M-Co₃O₄) catalyst system (including support) for catalyzed OER with comparable performance with Ir or RuO₂-based catalysts used in current PEM electrolyzers. The knowledge gained can be broadly applied to catalyst design for highly efficient and low-cost hydrogen production from water electrolysis in various electrolytes.

Original TAsks and Time-frame

Task 1 and 2 might inter-wine as dictated by project progression and needs

Task 1: Tuning the crystal structure and composition of Co₃O₄ for optimized activity and stability of the catalysts (6 months)

Deliverable: Transition metal doped Co₃O₄ with comparable OER activity to Ir or RuO₂ in acid medium. It is expected that the M-doped Co₃O₄ will also show much improved stability in acid compared to its Co₃O₄ by design.

Task 2: Modify the support-catalyst interface for improved stability (6 month), if necessary or time permissible, we will also explore the surface coating approach for stability enhancement.

Deliverable: Develop in-situ growth of the M-doped Co3O4 directly on carbon-supports to enhance the catalyst stability.

Additional personnel, TASKS AND TIME-FRAME

Upon identifying best candidate(s) for OER

Additional Task 3: Optimize M-Co₃O₄ growth on substrates to prepare for direct incorporation in electrolyzer. (6-12 month).

Deliverable: It is expected that the M-doped Co₃O₄ have tailored density, morphology that is designed to facilitate OER reaction in an environment closer to that of a catalyst layer in an electroloyzer.

Additional Task 4: (4a) Evaluation of OER catalyst performance in the catalyst layer of electrolyzer against conventional Pt/C cathode; (4b) continue fundamental studies to optimize catalyst material and/or catalyst-support with feedback from (4a). (12-24 month).

Deliverable: Optimized the M-doped Co₃O₄ catalyst-based catalyst layer for electrolyzer application. Improved activity and stability are expected.

Rationale for additional tasks and support:

The original tasks focus on improving the intrinsic activity of the catalyst by modifying the spinel structure, while diffusion and mass transport related issue can be critical limiting factor in the electrolyzers especially at high current density. We ask for additional support to continue the original line of studies in improving the intrinsic catalyst performance in various conditions, and for the additional studies on substrate-catalyst environment which is indispensable in the mass production of hydrogen and oxygen in a water splitting device. Catalyst and substrate morphology and surface properties, such as pore size control and particle size control, will be explored. When deemed necessary, other widely used oxide substrates such as CeO₂ or TiO₂ will also be investigated for a better mass transport or stability in electrolyzer.

Exhibit B-2

A payment of $389,190 has been made on this project. The remaining $1,508,178 shall be invoiced as follows:

Upon Execution of Amendment		$	50,000.00
7/1/21		$	248,574.00
10/1/21		$	248,574.00
1/1/22		$	215,545.75
4/1/22		$	215,545.75
7/1/22		$	215,545.75
10/1/22		$	215,545.75
1/1/23		$	98,846.00

Checks will be made payable to The Regents of the University of California and will be sent to:

UCLA Payment Solutions and Compliance
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Electronic Fund Transfer:

Bank of America
Client Fulfillment & Service CA7-701-02-54
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