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Adam
Shelton
5771 Owl Light Terrace
Santa Rosa, CA 95409
We are pleased
to extend this formal offer to you to join Superconductor
Technologies Inc. in an exempt position as Vice President of
Product Management and Marketing reporting to Jeff Quiram,
President and Chief Executive Officer. Your scheduled starting date
of employment is April 3, 2006.
Your salary
will be $240,000 per year. You will be granted 55,000 stock
options, which will be priced on your hiring date, subject to Board
approval. In addition, you will be paid a one-time bonus of $75,000
upon joining STI. If you leave within 12 months of your hire
date, you agree to repay this bonus.
You will also
participate in our Executive Incentive Plan where you will be
eligible to receive an additional 40% target incentive. We will
provide this information in a separate document. Also, any business
car mileage will be reimbursed @ 43 cents per mile.
You will be
eligible for STI’s standard benefits on the 1
st of the following month from the date of hire.
These benefits include medical, vision and dental insurance, 15
vacation days annually, 9 paid holidays per year, life insurance
two (2
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