Exhibit 10.136
Mechanical Technology Incorporated
431 New
Karner Road
Albany,
NY 12205
Tel:
518.533.2200 Fax: 518.533.2201
www.mechtech.com
MECHANICAL TECHNOLOGY,
INC.
September 25, 2002
Cynthia A. Scheuer
2757 Doellner Circle
Castleton, NY 12033
Re: Chief Financial
Officer and Vice President Mechanical Technology, Inc. and
Treasurer of MTI MicroFuel Cells Inc.
Dear Cynthia:
This letter will memorialize our agreement with respect to the
terms of your employment with Mechanical Technology, Inc. ("MTI")
and MTI MicroFuel Cells Inc. ("MTIMFC" and, together with MTI, the
"Companies"). You will be Vice President and Chief Financial
Officer of MTI and Treasurer of MTIMFC. As Vice President and Chief
Financial Officer you will be responsible for supervising the
accounting department. As Treasurer of MTIMFC you will be
responsible for the treasury function.
Base Salary and Bonus . Effective April 1, 2002, your
salary will be $150,000 per year. In addition, you will be eligible
to receive an annual bonus in the form of stock options to purchase
MTI and/or MTIMFC common stock, as determined by your supervisor,
Bill Acker, and the MTI and/or MTIMFC Board of Directors.
Stock Options . You will be eligible for option grants at
the discretion of the Boards of Directors of the Companies.
Othe
