<SEC-DOCUMENT>0001437749-20-025722.txt : 20201221
<SEC-HEADER>0001437749-20-025722.hdr.sgml : 20201221
<ACCEPTANCE-DATETIME>20201221163418
ACCESSION NUMBER:		0001437749-20-025722
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20201216
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201221
DATE AS OF CHANGE:		20201221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUEL TECH, INC.
		CENTRAL INDEX KEY:			0000846913
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				205657551
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33059
		FILM NUMBER:		201404700

	BUSINESS ADDRESS:	
		STREET 1:		27601 BELLA VISTA PARKWAY
		CITY:			WARRENVILLE
		STATE:			IL
		ZIP:			60555
		BUSINESS PHONE:		6308454431

	MAIL ADDRESS:	
		STREET 1:		27601 BELLA VISTA PARKWAY
		CITY:			WARRENVILLE
		STATE:			IL
		ZIP:			60555

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FUEL TECH N V
		DATE OF NAME CHANGE:	19930510
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ftek20201218_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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	<title>ftek20201218_8k.htm</title>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT<br>
Pursuant to Section&nbsp;13 or 15(d) of </b><b>t</b><b>he Securities Exchange Act of 1934</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Date of Report (Date of earliest event reported) </b><b>December </b><b>16</b><b>, 20</b><b>20</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:24pt;margin:0pt;text-align:center;"><b>FUEL TECH, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:center;"><b>Delaware</b><br>
			(State or other jurisdiction<br>
			of incorporation)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:center;"><b>001-33059</b><br>
			(Commission<br>
			File Number)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:center;"><b>20-5657551</b><br>
			(IRS Employer<br>
			Identification No.)</p>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Fuel Tech, Inc.<br>
27601 Bella Vista Parkway<br>
Warrenville, IL 60555-1617<br>
630-845-4500</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Address and telephone number of principal executive offices)</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Securities registered pursuant to Section 12(b) of the Act:</p>

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			<td style="width: 33%; text-align: center; border-right: 1px solid black; border-top: 1px solid black; border-bottom: 1px solid black;">Name of each exchange on which registered</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision:</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&nbsp;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:right;">Emerging growth company</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &nbsp;&nbsp;&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:18pt;margin-top:0pt;text-align:left;"><b>ITEM </b><b>5</b><b>.0</b><b>2</b></p>
			</td>
			<td style="vertical-align: top; width: 90%;"><b><i>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.</i></b></td>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; text-align: justify; margin: 0pt;">On December 16, 2020, the Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of Fuel Tech, Inc. (&#8220;Fuel Tech&#8221; or the &#8220;Company&#8221;) took the following actions:</p>

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			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:18pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; width: 94%;">The Committee adopted Fuel Tech&#8217;s 2021 APC and National Sales Manager Commission Plan (the &#8220;APC Plan&#8221;) and 2021 FUEL CHEM&#174; Officer Sales Commission Plan (the &#8220;FUEL CHEM&#8221; Plan).&nbsp; Each of the APC Plan and the FUEL CHEM Plan provide for sales commission payments to be made to Fuel Tech&#8217;s Senior Vice President, Sales (William E. Cummings, Jr.).
			<p style="font-family:'Times New Roman', Times, serif;margin-right:18pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">&nbsp;</p>
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			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">&nbsp;</td>
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		<tr>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align: top; width: 94%;">Under the APC Plan, Fuel Tech will pay to its Senior Vice President, Sales a commission equal to a specified percentage of the as-sold contract value of all sales of products and services in Fuel Tech&#8217;s APC product line in the United States and Canada. The FUEL CHEM Plan provides for sales commission payments to be made to Fuel Tech&#8217;s Senior Vice President, Sales. Under the FUEL CHEM Plan, Fuel Tech will pay to such officer a commission equal to a specified percentage of all net revenue realized for customer units located in the United States and Canada.</td>
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			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align: top; width: 94%;">&nbsp;</td>
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		<tr>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align: top; width: 94%;">Copies of the APC Plan and the FUEL CHEM Plan are attached as Exhibits 99.1 and 99.2 to this Report on Form 8-K.</td>
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			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 3%; vertical-align: top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:18pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; width: 94%;">The Committee approved the payment of a one-time merit bonus in the amount of $40,000 to Ellen T. Albrecht, the Company&#8217;s Acting Treasurer and Controller and Principal Financial Officer.&nbsp; The one-time bonus was paid in recognition of Ms. Albrecht&#8217;s assumption of additional duties following her acceptance of the position of Acting Treasurer and Controller and Principal Financial Officer on March 14, 2020.
			<p style="font-family:'Times New Roman', Times, serif;margin-right:18pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">&nbsp;</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;"><b>I</b><b>TEM</b><b>&nbsp;9.01</b></p>
			</td>
			<td style="vertical-align: top; width: 92%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;"><i><b>Financial Statements and Exhibits</b></i></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td style="vertical-align: top; width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Exhibit No.</p>
			</td>
			<td style="vertical-align: top; width: 92%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">Description</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="1" style="vertical-align: top; width: 92%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">99.1</p>
			</td>
			<td style="vertical-align: top; width: 92%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;"><a href="ex_218375.htm" style="-sec-extract:exhibit;">2021 APC and National Sales Manager Commission Plan</a></p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">99.2</p>
			</td>
			<td style="vertical-align: top; width: 92%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;"><a href="ex_218376.htm" style="-sec-extract:exhibit;">2021 FUEL CHEM&#174; Officer Sales Commission Plan</a></p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 18pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="3" style="vertical-align: middle; width: 4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:2.8pt;margin-top:0pt;text-align:left;"><b>Fuel Tech, Inc.</b><br>
			(Registrant)<br>
			&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
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			<td style="vertical-align: middle; width: 47%;">&nbsp;</td>
			<td style="vertical-align: top; width: 4%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 40%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 47%;">&nbsp;</td>
			<td style="vertical-align: top; width: 4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">By:&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 40%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:1.8pt;margin-top:0pt;text-align:left;">/s/ <i>Bradley W. Johnson</i>&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 47%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align: middle; width: 40%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:1.8pt;margin-top:0pt;text-align:left;">Bradley W. Johnson</p>
			</td>
			<td style="vertical-align: middle; width: 9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
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			<td style="vertical-align: middle; width: 47%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Date: December 21, 2020&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align: middle; width: 40%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:1.8pt;margin-top:0pt;text-align:left;">Vice President, General Counsel and Secretary&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:0.8pt;margin-top:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>

</table>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex_218375.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="margin-bottom: 0; text-align: right; margin-top: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 99.1</b></font></p>

<p style="margin-bottom: 0; text-align: left; margin-top: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FUEL TECH, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>202</b><b>1</b><b> APC Officer and </b><b>NSM</b><b> Commission Plan</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>1.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>OBJECTIVE; EFFECTIVE DATE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>1.1.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b> </b><u><b>Objective</b></u><b>.</b> This 2021 Air Pollution Control (&#8220;APC&#8221;) Officer and NSM Commission Plan (&#8220;Plan&#8221;) describes the terms upon which Fuel Tech, Inc. (&#8220;Fuel Tech&#8221;) will compensate its Senior Vice President, Sales and its National Sales Manager, Sales for the sale of products and services relating to its APC line of business for sales occurring in the United States and Canada. The objective of this Plan is to increase the revenues and profitability of Fuel Tech by providing compensation incentives to its Senior Vice President, Sales and its National Sales Manager, Sales.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>1.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Effective Date</b></u>. This Plan shall be effective as of January 1, 2021 and continue in effect through December 31, 2021, subject to the terms hereof.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>2.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>DEFINITIONS</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;APC Product Line&#8221;</i> &#8211; means any of the following product lines or services offered by Fuel Tech: (a) the ASCR product Line, (b) the SCR product Line, (c) the combustion modification product Line, (d) the HERT SNCR product line, (e) the NOxOUT&#174; SNCR product Line, (f) the NOxOUT ULTRA&#174; product Line, (g) catalyst and catalyst services, (h) turnkey installation services, (i) CFD modeling and (j) consulting Services.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Commission</i>&#8221; &#8212; means the commission paid to the Officer or NSM in accordance with this Plan.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Eligible Employee</i>&#8221; &#8212; means any Fuel Tech employee eligible for participation in the 2020 APC Employee Commission Plan, as such plan may be amended in Fuel Tech&#8217;s sole discretion.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Employee Commission Plan&#8221;</i> &#8212; means the 2021 APC Employee Commission Plan, as such plan may be amended in Fuel Tech&#8217;s sole discretion.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;</i><i>N</i><i>SM&#8221;</i> &#8212; means Fuel Tech&#8217;s National Sales Manager, APC Sales.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Officer&#8221;</i> &#8212; means Fuel Tech&#8217;s Senior Vice President, Sales.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Sales Contract&#8221; &#8211; </i>means a comprehensive set of executed, legally binding documents between Fuel Tech and a customer, in form and substance acceptable to Fuel Tech.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Specified Percentage&#8221;</i> &#8212; means the confidential percentage rate provided to the Officer and the NSM together with this Plan.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Commission</b></u><b>.</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For each Sales Contract involving the sale of equipment included in an APC Product Line in the United States and Canada, Fuel Tech shall pay to the Officer and the NSM a Commission equal to the Specified Percentage. A Commission shall only be payable on any such Sales Contract if a commission would be payable to an Eligible Employee under Fuel Tech&#8217;s 2020 APC Employee Commission Plan for such Sales Contract.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>3.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Payments</b></u>. Following the end of each calendar quarter during which this Plan is in effect, Fuel Tech will determine the aggregate amount of Commission due to the Officer or NSM based upon Fuel Tech&#8217;s then-current internal accounting records in accordance with GAAP, and pay the Officer or NSM the amount of such Commission from the prior calendar quarter within forty-five (45) days, subject to any offsets.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADDITIONAL TERMS</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Dispute Resolution</b></u><b>.</b> Disagreements or disputes between Fuel Tech and the Officer or NSM arising out of or relating to the interpretation of this Plan shall be submitted to the Chief Executive Officer for resolution. Such officers shall decide the issue in their sole and absolute discretion. Any such decision shall be final and binding.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Modification, Amendment or Termination</b></u><b>.</b> This Plan is subject to modification, amendment or termination at any time at the discretion of Fuel Tech. Fuel Tech shall provide the Officer and NSM with written notice of any such modification, amendment or termination.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>No Effect on Employment</b></u><b>.</b> This Plan is not intended to and does not in any way alter the at-will nature of the Officer&#8217;s employment with Fuel Tech, nor does it constitute a guarantee of employment for a specified period. Employment with Fuel Tech is at will, which means that either the Officer, NSM or Fuel Tech may terminate the employment relationship at any time, with or without cause or prior notice. This Plan does not create a contractual relationship or any contractually enforceable rights between the Company or its wholly owned subsidiaries and the employee.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Disclaimer</b></u><b>.</b> This Plan is only valid for the year 2021. There is no guarantee that in 2022 or in subsequent years a commission plan or similar plan shall be adopted, and, if adopted, the terms, conditions and provisions of any such plan shall be determined in the sole and absolute discretion of the Compensation Committee of the Board of Directors of Fuel Tech.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex_218376.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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	<title>ex_218376.htm</title>

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<p style="margin-bottom: 0; text-align: right; margin-top: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 99.2</b></font></p>

<p style="margin-bottom: 0; text-align: left; margin-top: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FUEL TECH, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>20</b><b>2</b><b>1</b><b> </b><b>FUEL CHEM&#174; O</b><b>fficer Commission Plan</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>1.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>OBJECTIVE; EFFECTIVE DATE</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>1.1.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b> </b><u><b>Objective</b></u><b>.</b> This 2021 FUEL CHEM Officer Commission Plan (&#8220;Plan&#8221;) describes the terms upon which Fuel Tech, Inc. (&#8220;Fuel Tech&#8221;) will compensate its Senior Vice President, Sales for the sale of products and services relating to its FUEL CHEM line of business for sales occurring in the United States and Canada. The objective of this Plan is to increase the revenues and profitability of Fuel Tech by providing compensation incentives to its Senior Vice President, Sales.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>1.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Effective Date</b></u>. This Plan shall be effective as of January 1, 2021 and continue in effect through December 31, 2021, subject to the terms hereof.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>2.</b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>DEFINITIONS</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Commercial Contract&#8221; &#8211; </i>means a comprehensive set of executed, legally binding documents between Fuel Tech and a customer for the commercial operation of the FUEL CHEM program, in form and substance acceptable to Fuel Tech.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Commission</i>&#8221; &#8212; means the commission paid to the Officer in accordance with this Plan.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Eligible Employee</i>&#8221; &#8212; means any Fuel Tech employee eligible for participation in the 2021 FUEL CHEM Employee Commission Plan, as such plan may be amended in Fuel Tech&#8217;s sole discretion.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Employee Commission Plan&#8221;</i> &#8212; means the 2021 FUEL CHEM Employee Commission Plan, as such plan may be amended in Fuel Tech&#8217;s sole discretion.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Net Revenue&#8221; &#8211; </i>means, with respect to any customer unit all gross revenues actually recognized by Fuel Tech from the sale of the chemical portion of the FUEL CHEM program, the sale of availability fees or TIFI On Demand and the sale of miscellaneous equipment, less third-party sales commissions, duties, taxes (including, without limitation, applicable value-added tax, business tax or sales tax), cost of freight, fuel surcharges, upcharges, refunds, rebates, credits, risk-share forgiveness, write-offs for uncollectible amounts, discounts and returns and allowances, computed based upon Fuel Tech&#8217;s then-current internal accounting records in accordance with GAAP.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Officer&#8221;</i> &#8212; means Fuel Tech&#8217;s Senior Vice President, Sales.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>&#8220;Specified Percentage&#8221;</i> &#8212; means the confidential percentage rate provided to the Officer together with this Plan.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMISSION</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Commission</b></u><b>.</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel Tech shall pay to the Officer a Commission equal to the Specified Percentage, on a customer unit by customer unit basis, on Net Revenue pursuant to Commercial Contracts for customer units. A Commission shall only be payable on any such Sales Contract if a Commission would be payable to an Eligible Employee under Fuel Tech&#8217;s 2021 FUEL CHEM Employee Commission Plan.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>3.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Payments</b></u>. Following the end of each calendar quarter during which this Plan is in effect, Fuel Tech will determine the aggregate amount of Commission due to the Officer based upon Fuel Tech&#8217;s then-current internal accounting records in accordance with GAAP, and pay the Officer the amount of such Commission from the prior calendar quarter within forty-five (45) days, subject to any offsets.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADDITIONAL TERMS</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Dispute Resolution</b></u><b>.</b> Disagreements or disputes between Fuel Tech and the Officer arising out of or relating to the interpretation of this Plan shall be submitted to the Chief Executive Officer. Such officer shall decide the issue in his sole and absolute discretion. Any such decision shall be final and binding.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Modification, Amendment or Termination</b></u><b>.</b> This Plan is subject to modification, amendment or termination at any time at the discretion of Fuel Tech. Fuel Tech shall provide the Officer with written notice of any such modification, amendment or termination.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>No Effect on Employment</b></u><b>.</b> This Plan is not intended to and does not in any way alter the at-will nature of the Officer&#8217;s employment with Fuel Tech, nor does it constitute a guarantee of employment for a specified period. Employment with Fuel Tech is at will, which means that either the Officer or Fuel Tech may terminate the employment relationship at any time, with or without cause or prior notice. This Plan does not create a contractual relationship or any contractually enforceable rights between the Company or its wholly owned subsidiaries and the employee.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>4.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Disclaimer</b></u><b>.</b> This Plan is only valid for the year 2021. There is no guarantee that in 2022 or in subsequent years a commission plan or similar plan shall be adopted, and, if adopted, the terms, conditions and provisions of any such plan shall be determined in the sole and absolute discretion of the Compensation Committee of the Board of Directors of Fuel Tech.</p>

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