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EXHIBIT 10.60
LITHIUM TECHNOLOGY CORPORATION
January 4, 2000
Xxxxx X. Xxxx
Lithium Technology Corporation
0000 Xxxxxx Xxxxx
Xxxxxxxx Xxxxxxx, XX 00000
Dear Xx. Xxxx:
Reference is made to your employment agreement dated July 24, 1996, as
amended and extended (the "Employment Agreement"), with Lithium Technology
Corporation (the "Company").
This shall confirm that the Employment Agreement is extended on the same
terms as set forth in the Employment Agreement until the later of (i) February
28, 2002 and (ii) one year after the closing of the merger between the Company
and Pacific Lithium Limited.
This letter also confirms that as of November 1, 1999 you shall serve as
the Chairman and Chief Executive Officer and your salary is at the rate of
$165,000 per year commencing as of November 1, 1999.
By signing below, you agree to and accept these terms. The terms of your
Employment Agreement are hereby ratified, approved, and confirmed except as
modified herein.
Very truly yours,
/s/ Xxxxx Xxxxxxx
Xxxxx Xxxxxxx
Chairman of Special Committee of
the Board of Directors
Accepted and Agreed to:
/s/ Xxxxx X. Xxxx
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Xx. Xxxxx X. Xxxx
