EXHIBIT 10.1 Extension Of Employment Agreement --------------------------------- This will confirm that the term of the Employment Agreement between Ibis Technology Corporation ("Ibis") and Martin J. Reid dated November 12, 2003 (The "Agreement"), as...

                                                                    EXHIBIT 10.1

                        Extension Of Employment Agreement
                        ---------------------------------

This will confirm that the term of the Employment Agreement between Ibis
Technology Corporation ("Ibis") and Xxxxxx X. Xxxx dated November 12, 2003 (The
"Agreement"), as extended to December 31, 2007, is hereby further extended to
December 31, 2008, on the same terms and conditions as set forth in the
Agreement, provided that Xx. Xxxx'x base salary shall be as provided in the
Agreement, except as currently voluntarily reduced by Xx. Xxxx to $107,000.
During the extended term, Xx. Xxxx will continue to serve as Executive Chairman
and Chief Executive Officer of Ibis Technology Corporation.

            Ibis Technology Corporation                Xxxxxx Xxxx


                      Dated: