EXHIBIT 10.29
Plug Power
000 Xxxxxx-Xxxxxx Xx., Xxxxxx, XX 00000
Xxxx Xxxxxxxxx
President and Chief Executive Officer
June 7, 1999
Xxx Xxxxxx
00 Xxxxxxxxxx Xxxx
Xxxxxxxxxxxxx, XX 00000
Re: Employment Agreement
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Dear Xxx:
In consideration of your continued employment at-will at Plug Power, LLC
("Plug Power") as Senior Vice President, you are entitled solely to the
following benefits in the event that you are terminated from Plug Power for any
reason other than gross misconduct, negligence, failure to perform job functions
in a manner satisfactory to the President and CEO, theft, dishonesty, or fraud:
1) twelve (12) months salary continuation at a salary level of 50% of your base
pay on the date of termination, and
2) continuation of your employee benefits and vesting in stock options for
twelve (12) months following your termination date as if you were an employee
of Plug Power.
These benefits will also be granted in the event that you are terminated
from Plug Power for any physical or psychological disability which precludes you
from performing your essential job functions with or without reasonable
accommodation.
Please sign in the space provided below if you agree to the foregoing
terms.
Sincerely,
/s/ Xxxx Xxxxxxxxx
Xxxx Xxxxxxxxx
President & CEO
I acknowledge and accept this Employment Agreement
/s/ Xxx Xxxxxx June 8, 1999
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