PixTech
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EMPLOYMENT AGREEMENT XXXX-XXX GRAND-XXXXXXX
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1. Job description
o Non executive Chairman of PixTech, Inc. working on the strategy of the
Company, and helping the CEO on the relationships with investors and
industrial partners, as well as on any special project related to
PixTech.
o Director of the Strategy of PixTech S. A.
2. Duration of the contract
o Three years from the effective date.
3. Employment conditions and compensation package
o Mr. Grand-Xxxxxxx will spend a minimum of 50 % of his time (in
average) working for the Company. In case the circumstances would
require significantly more than 50 % of Mr. Grand-Xxxxxxx'x time, then
the situation should be discussed with the CEO.
o Salary: $60,000 per year in the U. S. for services rendered to
PixTech, Inc., plus FF. 360,000 per year in France, for services
rendered to PixTech, S. A.
o Company car, travel insurance and tax advice.
o Eligibility to the Management bonus plan and the Employee Stock Option
Plan.
4. Miscellaneous
o In order to compensate for the gradual decrease from full time
employment to half time employment, Mr. Grand-Xxxxxxx present salary
will be maintained during three months after the effective date of the
contract.
o This agreement supersedes any previous arrangement or agreement.
o The effective date is defined as January 1st, 1999.
Xxxx-Xxx Grand-Xxxxxxx
By : /s/ Xxxx-Xxx Grand-Xxxxxxx
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