Exhibit 10.27

CONFIDENTIAL RETIREMENT AGREEMENT AND RELEASE

This Confidential Retirement Agreement and Release (the “Agreement”) is entered into between Kenneth Winemaster (“Winemaster”) and Power Solutions International, Inc. (the “Company”). This Agreement will be effective upon expiration of the revocation period provided in Section 11 of this Agreement (the “Effective Date”).

BACKGROUND

1. Winemaster currently serves as the Executive Vice President of the Company and is a co-founder of the Company.

2. Winemaster desires to retire from his position as Executive Vice President and desires to retire from full time employment.

3. Winemaster and PSI enter into the following Agreement to (a) provide Winemaster with the benefits described below in recognition of his 36 years of contribution and service to the Company, (b) provide an orderly transition of Winemaster’s responsibilities and keep access to Winemaster’s cooperation regarding Company operations and strategy, (c) avoid any disputes between them relating to or arising from Winemaster’s employment by the Company or his resignation of employment; and (d) facilitate the Company’s desire to have control over the timing of Winemaster’s resignation of employment and the Company’s announcement of his retirement.

AGREEMENT

1. Retirement of Employment. Winemaster will voluntarily resign his employment effective January 1, 2022 (the “Retirement Date”). Winemaster’s retirement will be announced at a mutually agreed time, and in a mutually agreed manner, by a statement prepared by the Company and approved by Winemaster. The Company will continue to employ Winemaster through the Retirement Date and will continue to provide Winemaster with all compensation and benefits set forth in Paragraph 4 of his Employment Agreement dated September 21, 2017 (“Employment Agreement”) and shall not terminate his employment for any reason prior to the Retirement Date.

2. Retirement Benefits. In consideration for this Agreement, the Company will provide the following benefits to Winemaster:

A. The Company will pay Winemaster severance payments in the total amount of $348,070.08, less applicable withholdings. Payments of the amount of $348,070.08 shall be payable in twelve monthly installments of $29,005.84 payable by the first day of each month in the months of January 2022 through December 2022. At such time as Company executives are reimbursed for the 10% reduction in salary instituted July 1 of 2021, but no later than July 1, 2022, the company shall pay Winemaster $16,737, less applicable withholdings, representing the payback of the 10% reduction in salary for Winemaster from July through December 2021.

B. On January 1, 2023 the Company will pay Winemaster $32,500 under the 2019 Long Term Incentive (LTI) plan, as long as paid to other executive LTI participants for the 2021 LTI plan year as full and complete payment under the LTI plan.

C. The Company will maintain Winemaster’s United Airlines Mileage Plus Global Service status throughout the current term and for one additional term, to the extent the Company continues to participate in the United Airlines miles program.

D. If Winemaster timely elects COBRA health insurance continuation coverage, the Company will pay a proportional share of the premiums owed by Winemaster as if Winemaster were still employed by the Company for a period of thirteen months. Winemaster will be responsible for submitting all notices and forms required to elect COBRA.

Winemaster acknowledges and agrees that he is responsible for the employee’s share of any and all tax liability, if any, arising from the Retirement Benefits provided in Paragraph 2.

3. Indemnification. The Company agrees that the Indemnification Agreement between Winemaster and the Company dated January 20, 2014 and any duly executed amendments thereto (“Indemnification Agreement”) remains in full force and effect. A true and accurate copy of the Indemnification Agreement is attached hereto as Exhibit A and is fully incorporated by reference.

4. Release. In exchange for the consideration specified in this Agreement, except for claims specifically exempted from the terms of this Release under the Agreement, Winemaster, on behalf of himself and his heirs, legatees, personal representatives and assigns, releases and discharges the Company, the Company affilliates, and each of their respective officers, directors, members, managers, partners and shareholders, (collectively, the “Released Parties”) from any and all claims and causes of action, whether known or unknown, that Winemaster has, had or may have against them, related in any way to his employment with the Company or separation of employment, including any and all claims under the Employment Agreement. This release specifically includes, but is in no way limited to, (i) all claims arising from or relating in any way to Winemaster’s employment with the Company or his separation from employment with the Company; (ii) all claims under Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, 42 U.S.C. §§ 2000e et seq.; the Civil Rights Acts of 1866 and 1871 as amended, 42 U.S.C. § 1981; the Age Discrimination in Employment Act of 1967 as amended, 29 U.S.C. §§ 621 et. seq.; the Americans With Disabilities Act of 1990, 42 U.S.C. §§ 12101 et seq., as amended; the Equal Pay Act, 29 U.S.C. § 29 U.S.C. § 206(d); the Family and Medical Leave Act of 1993, 29 U.S.C. §§ 2601 et seq., as amended; the Employee Retirement Income Security Act of 1973 as amended, 29 U.S.C. §§ 1001 et seq.; the Occupational Safety and Health Act of 1970 as amended, 29 U.S.C. §§ 651 et seq.; the Illinois Human Rights Act, 765 ILCS 5/1-101 et seq., the Illinois Whistleblower Act, 740 ILCS 174/1 et seq., or any provision of Chapter 820 of the Illinois Compiled Statutes; and (iv) any other claims or causes of action that Winemaster has, had, or may have had under any federal, state, or local statute, regulation, ordinance, or the common law. Winemaster waives any right to receive any monetary or other benefit because of any charge, claim, lawsuit, or administrative proceeding based upon any claim released in this Agreement. This release does not apply to claims for workers’ compensation benefits or other claims that cannot be released under applicable law. For avoidance of doubt, this Release shall not act to preclude Winemaster from asserting any rights or claims as a Shareholder of the Company and shall not release any claims or modify any rights available to Winemaster under the Indemnification Agreement. Nothing in this Agreement limits Winemaster’s ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor

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Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state, or local government agency or commission (“Government Agencies”), but Winemaster waives his right to recover damages from PSI should any agency pursue a claim on his behalf. Winemaster further understands that this Agreement does not limit his ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency. Nothing in this Agreement is intended to prevent, impede or interfere with Winemaster providing truthful testimony and information in the course of an investigation authorized by law and conducted by any Government Agencies.

5. Cooperation. Winemaster agrees to make himself reasonably available to assist in any transition related duties as requested by the Company. Winemaster also agrees to provide reasonable assistance to the Company and the Company’s attorneys upon request in connection with any, strategy or industry issues that Winemaster has been working on and as to which Winemaster has special knowledge, relating to matters within the scope of his employment by the Company, and the Company agrees to reimburse him for time incurred on such assistance at the rate of $250/hour, consistent with the per diem provision in his Employment Agreement. Winemaster agrees to cooperate with the Company on all reasonable requests. Winemaster agrees that he will be responsible for any and all tax liability, if any, arising from the payments received under this Paragraph 5. The scope and timing of such projects and assistance shall be mutually agreed upon in advance by Winemaster and the Company to the extent practicable. This provision is intended to modify Section 8(b) of the Employment Agreement to remove the 18-month time limitation and to specify the per diem rate to be paid Winemaster. The remainder of Section 8(b) is incorporated herein by reference and is considered part of this Agreement. Winemaster understands that nothing in this Agreement prevents or is intended to discourage him from speaking to or cooperating with the government in the ongoing investigations.

The Company will cooperate and reasonably assist Winemaster to remove legend restrictions on Winemaster’s Company stock (PSIX) in a timely manner and as reasonably requested by Winemaster.

6. Expenses. Winemaster agrees to disclose and reimburse PSI for any amounts PSI paid for airline tickets or credits that remain unused no later than April 30, 2022. Winemaster shall submit documentation for any outstanding Business Expenses under Section 4(e) of the Employment Agreement no later than April 30, 2022. For the avoidance of doubt, nothing in this Paragraph 6 is intended to interfere with or affect the parties’ respective rights and obligations under the Indemnification Agreement.

7. Post-Employment Covenants Winemaster agrees that the provisions of Sections 6, 7 and 8 of his Employment Agreement remain enforceable and are not superseded by this Agreement. For the avoidance of doubt, Section 6 (a) of Winemaster’s employment agreement (Confidential Information) does not prohibit Winemaster from providing non-privileged information to a government agency, regulatory body or self-regulatory organization investigating a matter related to his employment with the Company, and Winemaster is not required to provide notice to the Company, or obtain approval from the Company, prior to providing such information to the government agency, regulatory body or self-regulatory organization. Nothing in this Agreement is intended to limit or interfere with Winemaster’s ability to effectively defend himself in connection with any investigation by a government agency, regulatory body or self-regulatory organization.

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8. Confidentiality. The Company and Winemaster will keep the fact and terms of this Agreement confidential and will not discuss or disclose these matters with or to any third person other than Winemaster’s attorneys and tax or financial advisors, except as required by law. Winemaster and the Company will advise any such person to whom such information is disclosed that the information is confidential and may not be disclosed except as provided herein. This Section does not preclude the Company or Winemaster from disclosing this Agreement or information about this Agreement to a court or government agency as part of a legal proceeding or investigation, provided that any such disclosure, submission, or filing is made under seal and on a confidential basis to the maximum extent allowed by law.

9. Non-Disparagement. Except as provided in the next sentence, Winemaster and the Company hereby agree not to make any statement at any time, in the present or future, to any person or entity which if publicized, would cause the other party humiliation or embarrassment, or would cause the public to question his integrity, competence or good character. For the avoidance of doubt, nothing in this Agreement in any way precludes or interferes with, or is intended to preclude or interfere with Winemaster or the Company or their agents from providing testimony or information as part of a legal proceeding or investigation or making any statements to any government enforcement or regulatory agency.

10. Knowing and Voluntary Waiver of Age Claims. Winemaster acknowledges that:

A. He has been given a period of at least 21 days after being presented with this Agreement in which to consider whether to sign it, and has an adequate opportunity to review this Agreement and obtain any legal advice necessary to fully understand its terms;

B. He has read and understands this Agreement;

C. He is waiving any and all claims against the Company under the Age Discrimination in Employment Act arising up to the date on which he signs this Agreement; and

D. He has been advised that he may consult with an attorney of his choice before executing this Agreement.

11. Revocation. Winemaster may revoke this Agreement within seven calendar days after signing it. The revocation will be effective only if written notice is received by the Company before the eighth calendar day after Winemaster signs this Agreement. The Company’s obligations under this Agreement will not take effect unless the time for Winemaster to revoke this Agreement has expired and Winemaster has not revoked the Agreement.

12. Notice. Any notice provided for in this Agreement must be in writing and sent to the recipients at the address indicated below:

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or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, upon actual receipt; (b) if sent by reputable overnight air courier (such as DHL or Federal Express), two business days after being so sent; or (c) if by electronic mail or otherwise actually personally delivered, when so delivered.

13. Taxes and Deductions. All payments provided for in this Agreement will be subject to payroll tax withholding and deductions to the extent required by law. Each party will report, as may be required by law for income tax purposes, its respective payment and receipt of the payments provided for in this Agreement and will bear its respective tax liabilities, if any, arising from this Agreement.

14. No Admission of Wrongdoing. Nothing in this Agreement constitutes an implication or admission of wrongdoing by Winemaster or the Company.

15. Section 409A.

A. The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Section 409A”) including the exceptions thereto and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith, and any payments hereunder shall be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement in connection with a termination of employment shall only be made if such termination of employment constitutes a “separation from service” under Section 409A. The company shall be entitled to amend this Agreement to comply and/or clarify a payment’s compliance with Section 409A (or an exemption therefrom), provided, however, to the extent that any provision hereof is modified, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Executive and the Company of the applicable provision without violating the provisions of Section 409A. Notwithstanding anything in the Agreement to the contrary, in no event whatsoever shall the Company be liable for any tax, interest or penalty that may be imposed on Winemaster under Section 409A or any damages for failing to comply with Section 409A.

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B. Notwithstanding anything in this Agreement to the contrary, if any payment or benefit provided to Winemaster in connection with his retirement and separation of employment is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and Winemaster is determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the Termination Date or, if earlier, on Winemaster’s death (the “Specified Employee Payment Date”). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid (without interest) to Winemaster in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

C. To the extent required by Section 409A, each reimbursement or in-kind benefit provided under this Agreement shall be provided in accordance with the following: (a) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (b) any reimbursement of an eligible expense shall be paid to Winemaster on or before the last day of the calendar year following the calendar year in which the expense was incurred; and (c) any right to reimbursements or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another benefit.

16. Entire Agreement. This Agreement sets forth the entire agreement of the Parties and supersedes all prior and contemporaneous agreements and understandings between the Parties, including but not limited to the Employment Agreement, except as otherwise explicitly stated herein.

17. Choice of Law. This Agreement is to be construed in accordance with the laws of the State of Illinois, without regard to conflict of law principles.

18. Modification of this Agreement. This Agreement may not be amended or modified except in a writing signed by the Party against whom the amendment or modification is to be enforced.

19. Execution in Counterparts. This Agreement may be signed in counterparts, which together will form the original.

20. Severability. Nothing in this Agreement is to be construed as waiving rights that cannot be waived under applicable law, or as barring either Party from providing information or truthful testimony when required to do so under applicable law. Should any portion of this Agreement be ruled unenforceable by a court of competent jurisdiction, the remainder of this Agreement and the releases and covenant not to sue contained herein will remain in full force and effect as to any and all other claims.

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Accepted and Agreed To By:

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Exhibit 10.32

EMPLOYMENT AGREEMENT

This Employment Agreement (“Agreement”) is dated this 15th day of March 2021, by and between Constantine Xykis (“Xykis”) and Power Solutions International, Inc. (“Company”).

PREAMBLE

WHEREAS, Xykis has been employed by Company since December 1, 2010 as Vice President of Engineering the terms of which were subsequently set forth in an Employment Agreement between the Parties on April 4, 2018 and then amended on November 6, 2020 to set forth Xykis automobile allowance (the Employment Agreement and First Amendment shall hereafter be referred to as the “2018 Employment Agreement as amended”);

WHEREAS, the Company desires to promote Xykis to the position of Chief Technical Officer (“CTO”) of the Company, a section 16 Officer, effective March 15, 2021 (the “Effective Date”);

WHEREAS, Xykis desires to be employed by the Company as its CTO and to perform services on behalf of the Company; and

WHEREAS, Xykis and the Company desire to enter into this Agreement to, among other things, set forth (i) the continued terms and conditions of Xykis’s employment with the Company which shall supersede and cancel any other or different terms or conditions of employment, except as stated herein, including the 2018 Employment Agreement as amended; and (ii) the obligation of Xykis to comply with certain other covenants under certain circumstances as provided below.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, which the parties agree constitute good and sufficient consideration, the Company and Xykis agree as follows:

AGREEMENT

1. Incorporation of Preamble. The preambles to this Agreement are hereby incorporated into this Agreement and made an integral part of this Agreement by this reference.

2. Employment. The Company shall continue to employ Xykis, and Xykis hereby accepts such continued employment, upon the terms and conditions set forth in this Agreement for the period beginning on the Effective Date and ending as provided in Section 5 (the “Employment Period”). Xykis’s employment is “at-will” and may be terminated by either party at any time, subject to the provisions of Section 5.

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3. Position and Duties.

(a) Xykis shall serve as the Company’s CTO, with overall responsibility for the day-to-day operations of the engineering functions of the Company and such other duties as are normally commensurate with executive’s position. In this role Xykis will lead the strategy for technology platforms, partnerships and external relationships, identify, compare, select and implement technology solutions to meet current and future needs and represent the technological agenda in staff meetings when making hiring decisions. Xykis shall report to the Chief Executive Officer of the Company (the “CEO”).

(b) Xykis shall perform Xykis’s duties in a conscientious, reasonable and competent manner and shall strive to promote the success and best interests of Company. If the material duties of Xykis’s position change, the Company agrees to negotiate in good faith with Xykis concerning possible changes to the compensation, benefits and other terms and conditions of employment described in this Agreement.

(c) During the Employment Period, Xykis shall devote Xykis’s full business time, attention, skill and energy to the business and affairs of the Company and the Company Affiliates and shall use Xykis’s reasonable best efforts to faithfully perform Xykis’s responsibilities in a diligent, trustworthy, efficient and businesslike manner to promote the success and best interests of the Company.

4. Compensation and Benefits.

(a) Base Salary. Xykis’s base salary shall be $335,000.00 per annum. (the “Base Salary”). Xykis’s Base Salary will be payable by the Company in regular semi-monthly installments in accordance with the Company’s general payroll practices.

(b) KPI Bonus. For each of the Company’s fiscal year during the Employment Period, Xykis shall be eligible to participate in any Company Key Performance Indicator (“KPI”) plan in accordance with the terms and conditions of such plan, if any, with a target KPI equal to 50% of his Base Salary or as generally determined by the Company for the overall KPI plan .

(c) LTI Bonus. For each of the Company’s fiscal year during the Employment Period, Xykis shall be eligible to participate in any Long-Term Incentive (LTI) plan in accordance with the terms and conditions of such plan, if any, with a target LTI bonus equal to 60% of his Base Salary or as generally determined by the Company for the overall LTI plan.

(d) Equity. Subject to the approval of the Compensation Committee, Xykis shall be awarded a stock grant of 25,000 SARs with a strike price determined at the time of Compensation Committee approval. Vesting occurs pro rata over a three-year period with: 8,333 SARs awards vesting on March 15, 2022, 8,333 SARs awards vesting on March 15 2023, and the remaining 8,334 SARs awards vesting on March 15, 2024, provided that Xykis has not quit or voluntarily terminated his employment as CTO or been terminated for cause or due to death or incapacity in which case any unvested SARs awards shall be extinguished and forfeited by Xykis. The SARs awards shall be subject to the terms and conditions of the Power Solutions 2012 Incentive Compensation Plan.

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(e) Automobile allowance. The Company will pay Employee One Thousand Nine Hundred Seventy-Five Dollars ($1,975.00) per month towards Employee’s automobile lease. Additionally, the Company will also pay Employee One Thousand Seven Hundred Fifty Dollars ($1,750.00) per month to cover the cost of gasoline to travel on behalf of the Company for as long as Employee commutes from his current home to the Company headquarters in Wood Dale, Illinois. The Company will also pay employee for reasonable amounts spent on auto insurance for his leased vehicle within 30 days of Employee submitting such amounts to Company with documentation of such insurance costs. All amounts received by Employee will be subject to applicable withholdings as required by applicable law.

(f) Business Expenses. During the Employment Period, the Company will reimburse Xykis for all reasonable expenses incurred by him in the course of performing his duties and responsibilities under this Agreement to the extent consistent with the Company policies in effect from time to time with respect to travel, entertainment and other business expenses for the Company employees, subject to the Company reasonable requirements, including submission of an expense report on a monthly basis, with respect to reporting and documentation of such expenses.

(g) Benefits. During the Employment Period, Xykis shall be entitled to participate in all Company employee benefit programs for which senior employees of the Company are generally eligible.

(h) Vacation. Xykis shall be eligible to take vacation as approved by the CEO.

(i) Payroll Withholding. All amounts payable to Xykis by the Company as compensation will be subject to withholding by the Company as required under applicable law.

5. Term; Termination; Severance. The Employment Period will commence on the Effective Date and will continue until the first to occur of (i) Xykis’s death; (ii) a termination by the Company at any time; (iii) or a termination by Xykis at any time. Any termination of Xykis’s employment with the Company shall be a “Termination.” The date of any termination of Xykis’s employment with the Company shall be the “Termination Date.”

(a) The Company may terminate Xykis’s employment at any time with Cause (as defined in Section 9(b) of this Agreement) or without cause, by giving written notice of such termination to Xykis designating an immediate or future date, as outlined below.

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(b) Xykis may terminate Xykis’s employment by giving the Company ninety (90) days’ prior written Notice of Termination (as defined in Section 5(c) of this Agreement). Upon such notice, the Company may, at its option, (i) make Xykis’s termination effective immediately, (ii) require Xykis to continue to perform Xykis’s duties hereunder during such ninety (90) day period, with or without restrictions on Xykis’s activities, and/or (iii) accept Xykis’s notice of termination as Xykis’s resignation from the Company at any time during such ninety (90) day period; provided, that the Company shall (x) pay Xykis’s Base Salary under Section 4(a) and benefits under Section 4(g) through the date on which Xykis ceases to perform services for the Company and (y) pay to Xykis any KPI or LTI related to the fiscal year prior to the fiscal year in which the Termination Date falls if the amount of such KPI or LTI has been determined but not yet paid to Xykis as of the Termination Date. Any unvested SARs will be lost and forfeited as of the Termination Date.

(c) Any termination by the Company for Cause or without Cause, or by Xykis, shall be communicated by Notice of Termination to the other party hereto given in accordance with this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Xykis’s employment under the provision so indicated, if for Cause, and (iii) if the Termination Date is other than the date of receipt of such notice, specifies the termination date.

(d) Xykis’s employment will terminate immediately without any notice upon Xykis’s death.

(e) If Xykis is determined to be Disabled or Incapacitated during the Employment Period, the Company may give Xykis written notice of its intention to terminate Xykis’s employment. In such event, Xykis’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by Xykis (the “Disability Effective Date”) unless within the 30-day period after such receipt, Xykis shall have returned to full time performance of Xykis’s duties. Whether Xykis is Disabled or Incapacitated shall be determined by a physician selected by the CEO of or the Company’s insurers, which physician is reasonably acceptable to Xykis. Upon request, Xykis shall provide the CEO with documentation from Xykis’s health care provider sufficient for the CEO to determine the nature and extent of any physical or mental impairment that may interfere with Xykis’s performance of Xykis’s job duties, as well as any accommodations that could be made.

(f) If Xykis’s employment is terminated as a result of Xykis’s death or a determination that Xykis is Disabled or Incapacitated, then prior to the 30th day following the Termination Date, the Company shall pay to Xykis (or his legal representatives) in a lump sum, to the extent not previously paid, the Base Salary through the Termination Date, less applicable withholdings plus accrued bonus and benefits to the extent applicable.

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(g) If the Company terminates Xykis’s employment without Cause, then the Company will provide Xykis with the following severance payments and/or benefits:

(i) Prior to the 30th day following the Termination Date, the Company shall pay to Xykis, in the regular semi-monthly installments the Base Salary through the Termination Date, and any KPI or LTI award related to the fiscal year prior to the fiscal year in which the Termination Date falls if the amount of such Incentive Compensation Award has been determined but not yet paid to Xykis as of the Termination Date and any KPI or LTI award related to the current year on a pro rata basis to the Termination Date once determined by the Company.

(ii) Starting as of the next applicable Company payroll date after the Termination Date (provided Xykis has executed and delivered a Release Agreement pursuant to Section 5(h) below, and such Release Agreement has become effective and irrevocable), the Company will pay Xykis a monthly amount equal to the (x) Base Salary, divided by (y) 12 (the “Cash Severance”), less applicable withholdings, for a period of twelve (12) months following the date on which the first monthly payment is made pursuant to this Section 5(g). For purposes of this Agreement, the period of time from the Termination Date to the date the last monthly payment is made pursuant to this Section 5(g) is referred to as the “Severance Period.”

(iii) If Xykis has entered into a Release Agreement and timely elects COBRA health insurance continuation coverage, the Company will pay a proportional share of the premiums owed by Xykis as if Xykis were still employed by the Company for a period of 12 months. Xykis will be responsible for submitting all notices and forms required to elect COBRA.

(h) If Xykis’s employment with the Company is separated for cause, then following the Termination Date, the Company shall pay to Xykis, less applicable withholdings, to the extent not previously paid, (a) the Base Salary through the Termination Date, at the time required by applicable law, and (b) Xykis shall automatically forfeit:

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(i) The obligations of the Company to make payments under Section 5(g) are conditioned on Xykis executing and returning to the Company a general release agreement (“Release Agreement”) releasing the Company, the Company Affiliates, and each of their respective officers, directors, members, managers, partners and shareholders with respect to Xykis’s employment in the form acceptable to Company, and such Release Agreement becoming effective and irrevocable no later than fifty-five (55) days following Xykis’s Termination Date. To the extent such fifty-five (55) day period may cover two taxable years, payments will be made in the later of the two such years. Xykis acknowledges that until a Release Agreement is timely executed and delivered to the Company and the applicable revocation period (if any) expires, the Company will not be obligated to pay any Cash Severance due to Xykis under this Agreement. If Xykis has breached in any material respect any of Xykis’s obligations in Section 6 below, then, without precluding its right to take any other actions available pursuant to this Agreement or applicable law, the Board may elect to immediately terminate Xykis’s right to receive, and Company’s obligation to pay, any additional Cash Severance, and Xykis shall have no further rights to Cash Severance. In the event that Xykis prevails on a legal action or claim challenging the Company’s rights to terminate such payments, the Company shall be required to pay to Xykis in a lump sum within thirty (30) days of such adjudication any Cash Severance the payment of which was delayed due to such termination, plus interest at the prime rate (as published in the Wall Street Journal on the date of such termination), for any period during which the payment of the Cash Severance did not occur, and to commence payment of future installments of Cash Severance in accordance with Section 5(g), plus any legal fees of Xykis incurred in connection with such legal action or claim.

6. Xykis Covenants. Xykis agrees and acknowledges that to ensure that the Company retains its value and goodwill, he has a continuing obligation to not use any Confidential Information (as defined below), special knowledge of the Business, or the relationships of the Company or the Company Affiliates with their respective customers and employees, all of which Xykis will continue to gain access to through Xykis’s employment with the Company, other than in the furtherance of Xykis’s legitimate job duties. Accordingly, Xykis agrees that he has a continuing obligation from his 2018 Employment Agreement as amended to the following restrictive covenants.

(a) Confidential Information. Xykis acknowledges that by reason of his employment by the Employer and the Company, or while being associated with the Company Affiliates, Xykis has had and will continue to have access to and become informed of Confidential Information (defined below) that is a competitive asset of the Company or the Company Affiliates, and agrees that the Company and the Company

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Affiliates have a protectable interest in such Confidential Information. Therefore, Xykis agrees that during the Employment Period and after his termination for any reason he shall not, directly or indirectly, disclose to any unauthorized person or use for his own purposes any such Confidential Information without the prior written consent of the Company unless and to the extent that such Confidential Information (i) becomes or is generally known to the public and available for use by the public and industry other than as a result of Xykis’s unauthorized acts or omissions in breach of this Agreement, or (ii) is required to be disclosed by judicial process, law or securities exchange on which the securities of the Company or any of the Company Affiliates are listed; provided, however, that Xykis, to the extent not prohibited by such process, law or exchange, shall give the Company written notice of the Confidential Information to be so disclosed pursuant to clause (ii) of this sentence as far in advance of its disclosure as is reasonably practicable, shall cooperate with the Company in any efforts to protect the Confidential Information from disclosure (including efforts to secure a judicial order to such effect), and shall limit his disclosure of such Confidential Information to the minimum disclosure required by such process, law or exchange. Xykis acknowledges that all documents and other property including or reflecting Confidential Information furnished to Xykis by the Company or any Company Affiliate or otherwise acquired or developed by the Company or any Company Affiliate or acquired, developed or known by Xykis by reason of the performance of his duties for, or his association with, the Company or any Company Affiliate shall at all times be the property of the Company. Xykis shall take all reasonable steps to safeguard Confidential Information and protect it against disclosure, misuse, loss or theft. “Confidential Information” means (x) any and all trade secrets concerning the business and affairs of the Company or any Company Affiliate, any product specifications, data, know-how, formulae, compositions, processes, designs, sketches, photographs, graphs, drawings, samples, inventions and ideas, past, current and planned research and development, current and planned manufacturing and distribution methods and processes, customer lists, current and anticipated customer requirements, price lists, market studies, business plans, computer software and programs (including object code and source code), database technologies, systems, structures, architectures processes, improvements, devices, discoveries, concepts, methods, and information of the Company or any Company Affiliate; (y) any and all information concerning the business and affairs of the Company or any Company Affiliate (which includes financial statements, financial projections and budgets, historical and projected sales, capital spending budgets and plans, the names and backgrounds of key personnel, contractors, agents, suppliers and potential suppliers, personnel training and techniques and materials, and purchasing methods and techniques), however documented; and (z) any and all notes, analysis, compilations, studies, summaries and other material prepared by or for the Company or Company Affiliate containing or based, in whole or in part, upon any information included in the foregoing.

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(b) Non-Compete. Xykis agrees that Xykis has had and will continue to have access to Confidential Information concerning the Company and the Company Affiliates and that Xykis’s services are of special, unique and extraordinary value to the Company and the Company Affiliates. Therefore, Xykis agrees that during his employment with the Company and until 12 months after the Termination Date (regardless of the reason for termination), Xykis shall not, other than in the legitimate exercise of his duties for the Company during his employment with the Company, directly or indirectly own, manage, operate, control, be employed or engaged by, lend to, or otherwise serve as a director, officer, stockholder, partner, member, manager, agent, consultant or contractor of or to, any entity that engages in, or otherwise engage or participate in, whether or not for compensation, the Business (as defined in Section 9(a) of this Agreement), or in any other business in which the Company or any Company Affiliate engages as of the date on which Xykis’s employment with the Company ends and in which Xykis has been actively involved (“Competitive Activity”). The provisions in this Section 6(b) shall operate in the market areas of the United States and any other market areas of any other countries anywhere in the world in which the Company or any Company Affiliate conducts its business as of Xykis’s separation from the Company. The foregoing shall not restrict the Xykis from directly or indirectly owning stock of the Company or up to an aggregate of one percent of the outstanding stock of any publicly held company engaged in Competitive Activity.

(c) Non-Solicitation. Xykis agrees that during his employment with the Company and until the first anniversary of the Termination Date (regardless of the reason for termination), he shall not, directly or indirectly, whether individually, as a director, stockholder, partner, member, manager, owner, officer, employee, agent, consultant or contractor of or to any business or entity, or in any other capacity: (i) induce or attempt to induce any employee of the Company or any Company Affiliate to leave his or her employ or in any way interfere with the relationship between the Company or any Company Affiliate and any Xykis thereof; (ii) solicit to hire or hire any person who was an employee of the Company or any Company Affiliate at any time during the one-year period prior to the date of such solicitation; or (iii) solicit any customer, developer, client, supplier, vendor, licensee, licensor, franchisee or other business relation of the Company or any Company Affiliate for sale thereto of any products or services related to any Competitive Activity, induce or attempt to induce any such customer, developer, client, supplier, vendor, licensee, licensor, franchisee or other business relation of the Company or any Company Affiliate to cease doing business with the Company or any Company Affiliate, or in any way interfere with the relationship between any such customer, developer, client, supplier, vendor, licensee, licensor, franchisee or business relation of the Company or any Company Affiliate (including making any negative statements or communications about the Company or any Company Affiliate or any of their respective officers, directors, products or services).

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(d) Ownership of Inventions. Xykis hereby agrees that any and all inventions (whether or not an application for protection has been filed under patent laws), works of authorship, information fixed in any tangible medium of expression (whether or not protected under copyright laws), Moral Rights, mask works, trademarks, trade names, trade dress, trade secrets, publicity rights, know-how, ideas (whether or not protected under trade secret laws), and all other subject matter protected under patent, copyright, Moral Right (defined as any right to claim authorship of a work, any right to object to any distortion or other modification of a work, and any similar right, existing under the law of any country, or under any treaty), mask work, trademark, trade secret, or other laws, that have been, are or will be developed, generated or produced by Xykis, solely or jointly with others, at any time while employed by the Company, including during the Employment Period, are and shall be the exclusive property of the Company, subject to the obligations of this Section 6 with respect to Confidential Information, and Xykis hereby forever waives and agrees never to assert against the Company, its successors or licensees any and all ownership, interest, Moral Rights or similar rights with respect thereto. Xykis hereby assigns to the Company all right, title and interest to the foregoing inventions, concepts, ideas and materials. This Section 6(d) does not apply to any invention or other work of Xykis for which no equipment, supplies, facility or Confidential Information of the Company was used and that was developed entirely on Xykis’s own time, unless the invention (A) relates to (x) the Business or (y) the Company’s actual or demonstrably anticipated research or development, or (B) results from any work performed by Xykis for or on behalf of the Company. Xykis shall keep and maintain adequate and current written records of all inventions, concepts, ideas and materials made by Xykis (jointly or with others) during the term of Xykis’s association or employment with the Company. Such records shall remain the property of the Company at all times. Xykis shall promptly and fully disclose to the Company the nature and particulars of any Inventions or research project undertaken on the Company’s behalf.

7. Enforcement and Remedies.

(a) If, at the time of enforcement of any of Sections 6(a),(b), (c) or (d), a court of competent jurisdiction shall hold that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the court shall be allowed to substitute the maximum legally-permissible restrictions for the restrictions contained in this Agreement.

(b) Xykis acknowledges that the provisions of Section 6 are in consideration of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. Xykis expressly agrees and acknowledges that the restrictions contained in Section 6 do not preclude Xykis from earning a livelihood, nor do they unreasonably impose limitations on Xykis’s ability to earn a living. In addition, Xykis agrees and acknowledges that the Company and the Company Affiliates are engaged in the Business, the Business is highly competitive and the services to be performed by Xykis for the Company are unique and national in nature, and the potential harm to the

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Company and the Company Affiliates of the non-enforcement of the provisions of this Section 7 outweighs any harm to Xykis of the enforcement of such provisions by injunction or otherwise. Xykis acknowledges that Xykis has carefully read this Agreement and has given careful consideration to the restraints imposed upon Xykis by this Agreement and is in full accord as to their necessity. Xykis expressly acknowledges and agrees that the restrictions contained herein are reasonable in terms of duration, scope and area restrictions and are necessary to protect the Confidential Information and the goodwill of the businesses of the Company and the Company Affiliates, and Xykis agrees not to challenge the validity or enforceability of the restrictions contained herein. The parties hereto expressly agree that money damages would not be an adequate remedy for breaching any provision of Section 6, and that the Company would be irreparably damaged if Xykis were to disclose the Confidential Information, solicit or hire employees, solicit customers or provide services to any person or entity in violation of the provisions of this Agreement. Therefore, in the event of a breach or threatened breach of any such provision, the Company and/or any Company Affiliate or their respective successors or assigns shall be entitled to, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without the necessity of posting a bond or other security, or proving economic harm).

8. Post Termination Obligations.

(a) Return of Company Materials. Immediately upon Notice of Termination of Xykis’s employment for any reason, Xykis shall return to the Company, and shall not retain in any form or media of expression, all Company and Company Affiliate property that is then in Xykis’s possession, custody or control, including, without limitation, all keys, access cards, credit cards, computer hardware and software, documents, records, policies, marketing information, design information, specifications and plans, data base information and lists, and any other property or information that Xykis has or had relating to the Company or any Company Affiliate (whether those materials are in paper or computer-stored form), and including but not limited to any documents containing, summarizing, or describing any Confidential Information. Upon the Company’s request, Xykis will certify in writing, in a form acceptable to the Company, that Xykis has returned all Company and Company Affiliate property, including any Confidential Information and copies thereof.

(b) Xykis Assistance. During the Employment Period and for twelve (12) months thereafter, Xykis shall, upon reasonable notice, reasonably assist the Company and the Company Affiliates (the “Affiliated Group”) in the defense of any claims, or potential claims that may be made or threatened to be made against any member of the Affiliated Group in any action, suit or proceeding, whether civil, criminal, administrative, investigative or otherwise (a “Proceeding”), and will reasonably assist

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the Affiliated Group in the prosecution of any claims that may be made by any member of the Affiliated Group in any Proceeding, to the extent that such claims may relate to Xykis’s employment or the period of Xykis’s employment by the Company. The Company shall reimburse Xykis for all of the Xykis’s reasonable out-of-pocket expenses associated with such assistance, including travel expenses and any attorneys’ fees and shall pay a reasonable per diem fee for the Xykis’s service under this Section.

9. Definitions. The following terms shall have the meanings set forth below:

(a) “Business” means the engineering, design, manufacture and distribution of cleantech engines and power systems for the industrial and on-road sectors.

(b) “Cause” means that Employee has: (A) engaged in (1) a material act of dishonesty involving the Company or the Company Affiliates, (2) malfeasance or gross negligence which is injurious to the Company, or (3) a material breach of his fiduciary duties related to employment; (B) committed an act of fraud or embezzlement, (C) committed any crime of moral turpitude or any felony; (D) repeatedly refused to perform specific reasonable directives from the CEO or any officer of the Company to whom Employee reports that are reasonably consistent with the scope and nature of Employee’s responsibilities (other than such failure resulting from his Disability or Incapacity); (E) used or been under the influence of illegal drugs at the workplace or while performing Company business, or refused to submit for a drug test upon the Company’s reasonable request; (F) breached any provision of Section 6 in any material respect; (G) willfully breached Employee’s other duties and obligations in Sections 4 and/or 5 or any other written agreement between Employee and the Company in any material respect, or willfully took or failed to take any action in contravention of the Board charters in any material respect; (H) willfully violated any conflict of interest policy of the Company or the Board in any material respect; or (I) demonstrated willful failure or inability to perform Employee’s duties under this Agreement. A termination will not be for “Cause” to the extent such conduct is curable, unless Company shall have notified Employee in writing describing such conduct and prescribing conduct required to cure such conduct and Employee shall have failed to cure such conduct within ten (10) business days after his receipt of such written notice. Employee’s refusal to relocate in order to retain his employment shall not constitute “Cause.” For purposes of this definition of Cause, no act or failure to act on the part of Employee shall be considered willful if it is done, or omitted to be done, by Employee in good faith and with a good faith belief that Employee’s act or omission was in the best interests of Company.

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(c) “COBRA Continuation Coverage” means any medical, dental and vision care benefits that Xykis and his “qualifying family members” (defined below) elect and are eligible to receive upon the Termination Date pursuant to Code Section 4980B and Section 601 et seq. of the Employee Retirement Income Security Act of 1974, as amended. For this purpose, Xykis’s “qualifying family members” are his spouse and dependent children to the extent they are eligible for, and elect to receive, continuation coverage under such Section 4980B and Section 601 et seq. COBRA Continuation Coverage under this Agreement shall terminate for any individual when it terminates under the terms of the applicable benefit plan of the Company in accordance with such Section 4980B and Section 601 et seq.

(d) “Code” means the Internal Revenue Code of 1986, as amended, and the regulations promulgated and in effect thereunder.

(e) “Company Affiliate” means PSI and each corporation, limited liability company, partnership, association or business entity of which a majority of the ownership interest thereof is at the time owned or controlled, directly or indirectly, by PSI or one or more Subsidiaries of PSI or a combination thereof.

(f) “Disabled or Incapacitated” means Xykis’s inability or failure, due to a medically determinable physical or mental impairment, to substantially perform the essential functions of Xykis’s job, with or without a reasonable accommodation, for thirty (30) consecutive calendar days or for ninety (90) calendar days during any twelve (12) month period irrespective of whether such days are consecutive.

(g) “Termination Date” means (i) if Xykis’s employment is terminated by Company for Cause or by Xykis, the date of receipt of the Notice of Termination or any later date specified therein pursuant to Section 5, as the case may be, (ii) if Xykis’s employment is terminated by the Company without Cause, the date on which Xykis ceases to perform services for the Company, (iii) if Xykis’s employment is terminated by reason of Disability, the Disability Effective Date, and (iv) if Xykis’s employment is terminated by reason of death, the date of death.

10. Notices. Any notice provided for in this Agreement must be in writing and sent to the recipients at the address indicated below:

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or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, upon actual receipt; (b) if sent by reputable overnight air courier (such as DHL or Federal Express), two business days after being so sent; or (c) if by electronic mail or otherwise actually personally delivered, when so delivered.

11. Code Section 409A. The intent of the parties is that payments and benefits under this Agreement comply with or are exempt from Code Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance with or exempt from Code Section 409A; provided, however, that in no event shall the Company be liable for any additional tax, interest or penalty that may be imposed on Xykis by Code Section 409A.

12. Xykis Representations. In connection with entering into this Agreement, Xykis represents and warrants to the Company that:

(a) This Agreement and each of the other agreements contemplated hereby constitutes the legal, valid and binding obligation of Xykis, enforceable in accordance with its terms, and the execution, delivery of this Agreement and such other agreements by Xykis does not and shall not conflict with, violate or cause a breach of any agreement, contract or instrument to which Xykis is a party or any judgment, order or decree to which Xykis is subject.

(b) Xykis has consulted with independent legal counsel regarding his rights and obligations under this Agreement and fully understands the terms and conditions contained herein. Xykis has obtained advice from persons other than the Company and its counsel regarding the tax effects of the transaction contemplated hereby.

(c) In signing this Agreement, Xykis gives the Company assurance that Xykis has carefully read and considered all of the terms and conditions of this Agreement, including the restraints imposed under Section 6 and the remedies provided under Section 7.

13. General Provisions.

(a) Severability. If any provision hereof is invalid or unenforceable, the invalidity or unenforceability shall not affect any other provision hereof and this Agreement shall be construed in all respects as if the invalid or unenforceable provision had been omitted.

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(b) Complete Agreement. This Agreement fully amends and restates any existing employment agreement between or among the Xykis and the Company or any Company Affiliate. Further, this Agreement embodies the complete agreement and understanding among the parties and supersedes and preempts any prior understandings, representations or other agreements by or among the parties, written or oral, which may have related to the subject matter hereof in any way. Notwithstanding the foregoing, this Agreement shall not supersede, preempt, modify or amend Xykis’s rights or obligations under any Stock Appreciation Rights or Restricted Stock Agreement entered into between Xykis and Company.

(c) Successors and Assigns. This Agreement shall bind and inure to the benefit of and be enforceable by Xykis, the Company and their respective successors and assigns; provided, that the rights and obligations of Xykis under this Agreement shall not be assignable.

(d) Governing Law; Venue. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Illinois (regardless of its conflict of laws principles). Each party hereto irrevocably submits itself to the exclusive jurisdiction of the courts of the State of Illinois located in Cook County, Illinois and to the jurisdiction of the United States District Court for the Northern District of Illinois, for the purpose of bringing any action that may be brought in connection with the provisions hereof. Each party hereto individually agrees not to assert any claim that such party is not subject to the jurisdiction of such courts, that the venue is improper, that the forum is inconvenient or any similar objection, claim or argument.

(e) Survival. The provisions set forth in Sections 5 through 13 shall survive and continue in full force and effect in accordance with their terms notwithstanding any termination or expiration of this Agreement and/or the end of the Employment Period and the termination of Xykis’s employment for any reason.

(f) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and Xykis.

[Signature page to follow]

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IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement on the date first written above.

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Exhibit 31.3

CERTIFICATION PURSUANT TO 17 CFR 240.13a-14 PROMULGATED UNDER

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lance Arnett, certify that:

Exhibit 31.4

CERTIFICATION PURSUANT TO 17 CFR 240.13a-14 PROMULGATED UNDER

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Matthew Thomas certify that: