EXHIBIT 10.29
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this "Agreement") is made and entered into
effective as of March 21, 2002 (the "Effective Date"), by and between
LIQUIDMETAL TECHNOLOGIES, a California corporation (the "Company"), and Xxxx
Xxxxx (the "Employee").
RECITALS
WHEREAS, the Employee desires to be employed by the Company upon the
terms and conditions set forth in this Agreement; and
WHEREAS, the Company desires to assure itself of the Employee's
continued employment in the capacities set forth herein.
NOW, THEREFORE, in consideration of the foregoing recitals and for
other good and valuable consideration, the parties hereto covenant and agree as
follows:
EMPLOYMENT. The Company hereby employs Employee, and the
Employee hereby accepts such employment, upon the terms and conditions set forth
in this Agreement.
1. TERM. Subject to the terms and conditions of this Agreement, including,
but not limited to, the provisions for termination set forth in Section
5 hereof, the employment of the Employee under this Agreement shall
commence on the Effective Date and shall continue through the close of
business on July 31, 2004 (the "Initial Term"). Upon the expiration of
the Initial Term, The Employee's employment with the Company will
continue on an "at-will" basis and may be renegotiated if the Company
and Employee agree to do so or may be terminated by Employee or the
Company for any reason and at any time, provided that in the event of
termination, the terminating party shall provide at least thirty (30)
days prior written notice of the termination to the other party (unless
the termination is With Cause as defined in this Agreement, in which
case the Employee's employment may be terminated immediately).
Notwithstanding the expiration of the Initial Term of this Agreement,
the provisions of this Agreement other than those of Sections 1, 4, and
5, Term, Compensation, and Termination, respectively, shall remain in
full force and effect. All other provisions of this Agreement,
including but without limitation, Sections 2, 6, and 7, entitled
Employment, Nonsolicitation and Nondisclosure Covenants, and Employee
Inventions, respectively, shall survive the expiration of the Initial
Term. Notwithstanding the expiration of the this Agreement or the
termination of employment by any means by any party, Sections 2, 6, and
7, entitled Term, Nonsolicitation and Nondisclosure Covenants, and
Employee Inventions, respectively, shall survive and remain fully
enforceable.
2. DUTIES. Employee will initially serve as Chief Technology Officer of
the Company. The Employee will devote his best efforts to promote the
success of the Company's business, and will cooperate fully with the
Board of Directors in the advancement of the best interests of the
Company. It is the intent of the Company and the Employee that the
Employee shall maintain the same degree of discretion in scheduling his
activities on behalf of the Company as he has maintained immediately
prior to entering into this
Employment Agreement. Over time, at a rate acceptable to both the
Company and Employee, the amount of time required in a facility of the
Company by Employee shall gradually be reduced. The Employee agrees
that he will be available to provide advice, information and analysis
on technology issues even when he is not physically at one of the
facilities of the Company.
3. COMPENSATION. Annual Base Salary. As compensation for Employee's
services and in consideration for the Employee's covenants contained in
this Agreement, the Company shall pay the Employee an annual base
salary of two hundred thousand dollars ($200,000.00). Such annual base
salary shall be payable in equal or as nearly equal as practicable
installments in accordance with the policy then prevailing for the
Company's salaried employees generally, and the annual base salary
shall be subject to any tax and other withholdings or deductions
required by applicable laws and regulations. The Employee's annual base
salary will be reviewed by the Board of Directors or Chief Executive
Officer of the Company not less frequently than annually. For purposes
of this Agreement, the term "Salary Year" means the one year, 365-day
period (or 366 day period for a leap year) that begins on the Effective
Date and each successive one year period thereafter.
(a) Bonuses. In addition to the Employee's annual base salary,
during the term of the Employee's employment hereunder, the
Employee shall be entitled to only such bonuses or additional
compensation as may be granted to the Employee by the Board of
Directors or Chief Executive Officer of the Company, in their
sole discretion.
(b) Other Benefits. During the term of the Employee's employment
hereunder, the Employee shall be eligible to participate in
such pension, life insurance, health insurance, disability
insurance and other benefits plans, if any, which the Company
may from time to time make available to similar-level
employees.
(c) Vacation. The Employee shall be entitled to four weeks paid
vacation during each Salary Year during the term of the
Employee's employment hereunder. Vacation shall be taken at
such times and with such notice so as to not disrupt or
interfere with the business of the Company. Unused vacation
from a particular Salary Year will not carry over to
succeeding Salary Years, and the Employee will not be paid for
any unused vacation.
(d) Reimbursement of Expenses. The Employee shall be reimbursed
for all reasonable and customary travel and other business
expenses incurred by Employee in the performance of Employee's
duties hereunder, provided that such reimbursement shall be
subject to, and in accordance with, any expense reimbursement
policies and/or expense documentation requirements of the
Company that may be in effect from time to time.
(e) Stock Options. The Employee's previously granted stock options
of 200,000 shares shall fully vest as of the Effective Date of
this Agreement.
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4. TERMINATION.
(a) Death. The Employee's employment under this Agreement shall
terminate immediately upon Employee's death. In the event of a
termination pursuant to this Section 5(a), the Employee's
estate shall be entitled to receive any unpaid base salary
owing to Employee up through and including the date of the
Employee's death.
(b) Disability. If, during the term of the Employee's employment
hereunder, the Employee becomes physically or mentally
disabled in the determination of a physician appointed or
selected by the Company, or, if due to any physical or mental
condition, the Employee becomes unable for a period of more
than sixty (60) days during any six-month period to perform
Employee's duties hereunder on substantially a full-time basis
as determined a physician selected by the Company, the Company
may, at its option, terminate the Employee's employment upon
not less than thirty (30) days written notice. In the event of
a termination pursuant to this Section 5(b), the Employee
shall be entitled to receive any unpaid base salary owing to
Employee up through and including the effective date of
Termination.
(c) Termination By Company Without Cause. In addition to the other
termination provisions of this Agreement, the Company may
terminate the Employee's employment at any time without cause
(a "Termination Without Cause"). In the event of a Termination
Without Cause, the Employee shall continue to receive the
Employee's base salary (as then in effect) during the three
month period immediately following the effective date of the
Termination Without Cause (the "Severance Period"). In
addition to the severance pay described in the preceding
sentence, the Employee shall continue to receive, during the
Severance Period, all employee health and welfare benefits
that Employee would have received during the Severance Period
in the absence of such termination. Employee agrees and
acknowledges, however, that Employee will forfeit the right to
receive base salary and benefits during the Severance Period
immediately upon the Employee's breach of any covenant set
forth in Section 6 of this Agreement. The Employee will also
forfeit the right to salary and benefits during the Severance
Period upon accepting employment with another employer with
comparable salary and benefits hereunder shall be forfeited
and shall cease upon the Employee becoming eligible for
benefits from the Employee's new employer. Notwithstanding the
foregoing, the termination of the Employee's employment
pursuant to the second sentence of Section 2 of this Agreement
shall not constitute a Termination Without Cause and shall not
give rise to any severance payment or other benefits pursuant
to this Section 5(c).
(d) Termination By Company With Cause. The Company may terminate
the Employee's employment at any time with Cause. As used in
this Agreement, "Cause" shall include the following: (1) the
Employee's failure or inability to perform Employee's duties
under this Agreement; (2) dishonesty or other serious
misconduct, (3) the commission of an unlawful act material to
Employee's employment, (4) a material violation of the
Company's policies or practices which
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reasonably justifies immediate termination; (5) committing,
pleading guilty, nolo contendre or no contest (or their
equivalent) to, entering into a pretrial intervention or
diversion program regarding, or conviction of, a felony or any
crime or act involving moral turpitude, fraud, dishonesty, or
misrepresentation; (6) the commission by the Employee of any
act which could reasonably affect or impact to a material
degree the interests of the Company or Related Entities or in
some manner injure the reputation, business, or business
relationships of the Company or Related Entities; (7) the
Employee's inability to perform an essential function of
Employee's position; or (8) any material breach by Employee of
this Agreement. The Company may terminate this Agreement for
Cause at any time without notice. In the event of a
termination for Cause, the Company shall be relieved of all
its obligations to the Employee provided for by this Agreement
as of the effective date of termination, and all payments to
the Employee hereunder shall immediately cease and terminate
as of such date, except that Employee shall be entitled to the
annual base salary hereunder up to and including the effective
date of termination, provided, however, that the Employee's
obligations under Sections 6 and 7 shall survive such a
Termination for Cause and any liabilities or obligations which
have accrued and are owed by the Employee to the Company shall
not be extinguished or released thereby.
5. NONSOLICITATION AND NONDISCLOSURE COVENANTS.
(a) Rationale for Restrictions. Employee acknowledges that
Employee's services hereunder are of a special, unique, and
extraordinary character, and Employee's position with the
Company places Employee in a position of confidence and trust
with customers, suppliers, and other persons and entities with
whom the Company and its Related Entities have a business
relationship. The Employee further acknowledges that the
rendering of services under this Agreement will likely require
the disclosure to Employee of Confidential Information (as
defined below) including Trade Secrets of the Company relating
to the Company and/or Related Entities. As a consequence, the
Employee agrees that it is reasonable and necessary for the
protection of the goodwill and legitimate business interests
of the Company and Related Entities that the Employee make the
covenants contained in this Section 6, that such covenants are
a material inducement for the Company to employ the Employee
and to enter into this Agreement, and that the covenants are
given as an integral part of and incident to this Agreement.
(b) Nonsolicitation Covenants. As used herein, the term
"Restrictive Period" means the time period commencing on the
Effective Date of this Agreement and ending on the second
(2nd) anniversary of the date on which the Employee's
employment by the Company (or any Related Entity) expires or
is terminated for any reason, including both a termination by
the Company for Cause and Not for Cause. In addition, the term
"Covered Business" means any business which is the same as, or
similar to, any business conducted by the Company or any of
the Related Entities at any time during the Restrictive
Period. The Employee agrees that the Employee will not, except
as otherwise provided herein engage in any of the following
acts anywhere in the world during the Restrictive Period:
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(i) directly or indirectly assist, promote or encourage
any existing or potential employees, customers,
clients, or vendors of the Company or any Related
Entity, as well as any other parties which have a
business relationship with the Company or a Related
Entity, to terminate, discontinue, or reduce the
extent of their relationship with the Company or a
Related Entity;
(ii) directly or indirectly solicit business of the same
or similar type as a Covered Business, from any
person or entity known by the Employee to be a
customer or client of the Company, whether or not the
Employee had contact with such person or entity
during the Employee's employment with the Company;
(iii) disparage the Company, any Related Entities, and/or
any shareholder, director, officer, employee, or
agent of the Company or any Related Entity; and/or
(iv) engage in any practice the purpose of which is to
evade the provisions of this Section or commit any
act which adversely affects the Company, any Related
Entity, or their respective businesses.
Employee acknowledges that Employee's services hereunder are of a
special, unique, and extraordinary character, and Employee's position
with the Company places Employee in a position of confidence and trust
with customers, suppliers, and other persons and entities with whom the
Company and its Related Entities have a business relationship. The
Employee further acknowledges that the rendering of services under this
Agreement will likely require the disclosure to Employee of
Confidential Information (as defined below) and Trade Secrets (as
defined below) of the Company relating to the Company and/or Related
Entities. As a consequence, the Employee agrees that it is reasonable
and necessary for the protection of the goodwill and legitimate
business interests of the Company and Related Entities that the
Employee make the covenants contained in this Section 6, that such
covenants are a material inducement for the Company to employ the
Employee and to enter into this Agreement, and that the covenants are
given as an integral part of and incident to this Agreement.
Accordingly, the Employee agrees that the geographic scope of the above
covenants is a reasonable means of protecting the Company's (and the
Related Entities') legitimate business interests. Notwithstanding the
foregoing covenants, nothing set forth in this Agreement shall prohibit
the Employee from owning the securities of (i) corporations which are
listed on a national securities exchange or traded in the national
over-the-counter market in an amount which shall not exceed 5% of the
outstanding shares of any such corporation or (ii) any corporation,
partnership, firm or other form of business organization which does not
compete with, is not engaged in, and does not carry on any aspect of,
either directly or indirectly through a subsidiary or otherwise, any
Covered Business.
(c) Disclosure of Confidential Information. The Employee
acknowledges that the inventions, innovations, software, Trade
Secrets, business plans, financial strategies, finances, and
all other confidential or proprietary information with respect
to the business and operations of the Company and Related
Entities are valuable, special, and unique assets of the
Company. Accordingly, the Employee
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agrees not to, at any time whatsoever either during or after
the Employee's term of employment with the Company, disclose,
directly or indirectly, to any person or entity, or use or
authorize any person or entity to use, any confidential or
proprietary information with respect to the Company or Related
Entities without the prior written consent of the Company,
including, without limitation, information as to the financial
condition, results of operations, identities of clients or
prospective clients, products under development, acquisition
strategies or acquisitions under consideration, pricing or
cost information, marketing strategies, passwords or codes or
any other information relating to the Company or any of the
Related Entities which could be reasonably regarded as
confidential (collectively referred to as "Confidential
Information"). However, the term "Confidential Information"
does not include any information which is or shall become
generally available to the public other than as a result of
disclosure by the Employee or by any person or entity which
the Employee knows (or which the Employee reasonably should
know) has a duty of confidentiality to the Company or a
Related Entity with respect to such information. In addition
to the foregoing, Company will be fully entitled to all of the
protections and benefits afforded by the California Uniform
Trade Secrets Acts and any other applicable law. "Trade
Secret" shall mean information, including a formula, pattern,
compilation, program, device, method technique, or process
that derives independent economic value, actual or potential,
from being not generally known to, and not being readily
ascertainable by proper means by, other persons who can derive
economic value from its disclosure or use, including but not
limited to the patented information and processes as well as
the unpatented information and processes comprising,
underlying, arising from, and associated with Liquidmetal
Alloy and Liquidmetal Coatings used by the Company.
(d) Prevention of Premature Disclosure of Confidential Information
and Trade Secrets. The Employee agrees and acknowledges that,
because the success of the Company is heavily dependent upon
maintaining the secrecy of the Company's Confidential
Information and Trade Secrets and preventing the premature
public disclosure of the Company's proprietary information and
technology including its Confidential Information and Trade
Secrets, the Employee agrees to use the Employee's best
efforts and his or her highest degree of care, diligence, and
prudence to ensure that no Confidential Information or Trade
Secret prematurely leaks or otherwise prematurely makes its
way into the public domain or any public forum, including,
without limitation, into any trade publications, internet chat
rooms, or other similar forums. In the event that the Employee
becomes aware of any premature leak of Confidential
Information or Trade Secret or becomes aware of any
circumstances creating a risk of such a leak, the Employee
shall immediately inform the Board of Directors, the Chief
Executive Officer, or the Employee's supervisor of such leak
or of such circumstances.
(e) Removal and Return of Proprietary Items. The Employee will not
remove from the Company's premises (except to the extent such
removal is for purposes of the performance of the Employee's
duties at home or while traveling, and under such conditions
and restrictions as are specifically authorized and/or
required by the
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Company) or transmit by any means, electronic or otherwise,
any document, record, notebook, plan, model, component,
device, computer software or code, or Confidential Information
or Trade Secret whether embodied in a disk or in any other
form, including electronic form (collectively, the
"Proprietary Items"). The Employee recognizes that, as between
the Company and the Employee, all of the Proprietary Items,
whether or not developed by the Employee, are the exclusive
property of the Company. Upon termination of Employee's
employment with the Company by either party (regardless of the
reason for termination), or upon the request of the Company
during the term of employment, the Employee will return to the
Company all of the Proprietary Items in the Employee's
possession or subject to the Employee's control, and the
Employee shall not retain any copies, abstracts, sketches, or
other physical embodiment of any of the Proprietary Items,
Confidential Information, Trade Secret or any part thereof.
(f) Enforcement and Remedies. In the event of any breach of any of
the covenants set forth in this Section 6, the Employee
recognizes that the remedies at law will be inadequate and
that in addition to any relief at law which may be available
to the Company for such violation or breach and regardless of
any other provision contained in this Agreement, the Company
shall be entitled to equitable remedies (including an
injunction) and such other relief as a court may grant after
considering the intent of this Section 6. Additionally, the
period of time applicable to any covenant set forth in this
Section 6 will be extended by the duration of any violation by
Employee of such covenant. In the event a court of competent
jurisdiction determines that any of the covenants set forth in
this Section 6 are excessively broad as to duration,
geographic scope, prohibited activities or otherwise, the
parties agree that this covenant shall be reduced or curtailed
to the extent, but only to the extent, necessary to render it
enforceable.
(g) The Company recognizes that the Employee has an interest in
maintaining business activities in addition to his employment
with the Company. The Employee may continue to maintain such
outside business activities so long as they do not represent a
conflict of interest with his duties and responsibilities as
an employee of the Company and do not constitute a breach of
Sections 5 or 6 of this agreement. Specifically, the Employee
may continue to participate in consulting activities with
other entities. However, the Employee agrees that he will
recuse himself from any activities with any third party in the
event that such activity should represent a conflict of
interest with his duties on behalf of the Company. The
Employee further agrees that this paragraph in no way relieves
the Employee from the absolute responsibility to maintain the
Trade Secrets and other Confidential Information of the
Company and that no Confidential Information of the Company
shall directly or indirectly be shared with any other entity
with which the Employee is consulting, or any of its
representatives and, likewise, no Confidential Information of
Trade Secrets of any other entity shall be shared directly or
indirectly with the Company. The Employee represents that he
has disclosed to any entity with which he consults his duties
and the general terms of this Agreement and that he has
approval from authorized representatives of any other entity
with which he consults, to maintain his position with that
entity as well as with the Company. The Employee further
represents that he is not subject to any agreement providing
that any Employee Invention will be owned by any other third
party.
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6. EMPLOYEE INVENTIONS.
(a) Definition. For purposes of this Agreement, "Employee
Invention" means any idea, invention, technique, modification,
process, or improvement (whether patentable or not), any
industrial design (whether registerable or not), any mask
work, however fixed or encoded, that is suitable to be fixed,
embedded or programmed in a semiconductor product (whether
recordable or not), and any work of authorship (whether or not
copyright protection may be obtained for it) created,
conceived, or developed by the Employee, either solely or in
conjunction with others, during the Employee's employment with
the Company or during the twenty four (24) month period
following such employment, that relates in any way to, or is
useful in any manner in, the businesses then being conducted
or proposed to be conducted by the Company or any Related
Entity.
(b) Ownership of Employee Inventions. Employee agrees and
acknowledges that all Employee Inventions will belong
exclusively to the Company and that all Employee Inventions
are works made for hire and the property of the Company,
including any copyrights, patents, semiconductor mask
protection, or other intellectual property rights pertaining
thereto. If it is determined that any such works are not works
made for hire, the Employee hereby assigns to the Company all
of the Company's right, title, and interest, including all
rights of copyright, patent, semiconductor mask protection,
and other intellectual property rights, to or in such Employee
Inventions. The Employee covenants that the Employee will
promptly:
(i) disclose to the Company in writing any Employee
Invention;
(ii) assign to the Company or to a party designated by the
Company, at the Company's request and without
additional compensation, all of the Employee's right
to the Employee Invention for the United States and
all foreign jurisdictions;
(iii) execute and deliver to the Company such applications,
assignments, and other documents as the Company may
request in order to apply for and obtain patents or
other registrations with respect to any Employee
Invention in the United States and any foreign
jurisdictions;
(iv) sign all other papers necessary to carry out the
above obligations; and
(v) give testimony and render any other assistance in
support of the Company's rights to any Employee
Invention.
7. ESSENTIAL AND INDEPENDENT COVENANTS. The Employee's covenants in
Sections 6 and 7 of this Agreement are independent covenants, and the
existence of any claim by the
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Employee against the Company under this Agreement or otherwise will not
excuse the Employee's breach of any covenant in Section 6 or 7. The
covenants of Sections 6 and 7 shall survive the termination,
extinguishment, or lapse of this Agreement under any circumstances,
even if this Agreement is terminated by either party, whether for Cause
or Not for Cause.
8. REPRESENTATIONS AND WARRANTIES BY THE EMPLOYEE. The Employee represents
and warrants to the Company that the execution and delivery by the
Employee of this Agreement do not, and the performance by the Employee
of the Employee's obligations hereunder will not, with or without the
giving of notice or the passage of time, or both: (a) violate any
judgment, writ, injunction, or order of any court, arbitrator, or
governmental agency applicable to the Employee, or (b) conflict with,
result in the breach of any provisions of or the termination of, or
constitute a default under, any agreement to which the Employee is a
party or by which the Employee is or may be bound, including, without
limitation, any noncompetition agreement or similar agreement. Employee
further represents and warrants that he fully and completely
understands this Agreement and that he has engaged in negotiations with
the Company and has either consulted with an attorney of his choice or
has had ample opportunity to do so and is fully satisfied with the
opportunity he has had.
9. NOTICES. For purposes of this Agreement, notices and all other
communications provided for herein shall be in writing and shall be
deemed to have been duly given when hand-delivered, sent by facsimile
transmission (as long as receipt is acknowledged), or mailed by United
States certified or registered mail, return receipt requested, postage
prepaid, addressed to the address or facsimile number for each party
set forth on the signature page hereto, or to such other address or
facsimile number as either party may have furnished to the other in
writing in accordance herewith, except that a notice of change of
address shall be effective only upon receipt.
10. MISCELLANEOUS. No provision of this Agreement may be modified or waived
unless such waiver or modification is agreed to in writing signed by
both of the parties hereto. No waiver by any party hereto of any breach
by any other party hereto shall be deemed a waiver of any similar or
dissimilar term or condition at the same or at any prior or subsequent
time. This Agreement is the entire agreement between the parties hereto
with respect to the Employee's employment by the Company, and there are
no agreements or representations, oral or otherwise, expressed or
implied, with respect to or related to the employment of the Employee
which are not set forth in this Agreement. This Agreement shall be
binding upon, and inure to the benefit of, the Company, its respective
successors and assigns, and the Employee and Employee's heirs,
executors, administrators and legal representatives. The duties and
covenants of the Employee under this Agreement, being personal, may not
be delegated or assigned by the Employee without the prior written
consent of the Company, and any attempted delegation or assignment
without such prior written consent shall be null and void and without
legal effect. The parties agree that if any provision of this Agreement
shall under any circumstances be deemed invalid or inoperative, the
Agreement shall be construed with the invalid or inoperative provision
deleted and the rights and obligations of the parties shall be
construed and enforced
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accordingly. This Agreement may be assigned by the Company without the
consent of the Employee, provided, however, that the Employee is given
notice of the assignment.
11. GOVERNING LAW; RESOLUTION OF DISPUTES. The validity, interpretation,
construction, and performance of this Agreement shall be governed by
the laws of the State of Florida without regard to principles of choice
of law or conflicts of law thereunder. Any action or proceeding seeking
to enforce any provision of, or based on any right arising out of, this
Agreement may be brought against either of the parties in the courts of
the State of Florida, County of Hillsborough, or, if it has or can
acquire jurisdiction, in the United States District Court located in
Hillsborough County, Florida, and each of the parties consents to the
jurisdiction of such courts (and of the appropriate appellate courts)
in any such action or proceeding and waives any objection to venue laid
therein. Process in any action or proceeding referred to in the
preceding sentence may be served on either party anywhere in the world.
The parties hereto agree that having venue and jurisdiction solely in
Florida is reasonable in that the headquarters for the Company is in
Tampa, Hillsborough County, Florida and that site for litigation is the
most central for such matters. THE PARTIES HEREBY WAIVE A JURY TRIAL IN
ANY LITIGATION ARISING UNDER OR RELATING TO THIS AGREEMENT OR THE
EMPLOYMENT OF THE EMPLOYEE WITH THE COMPANY. This Agreement shall not
be construed against either party but shall be construed without regard
to the participation of either party in the drafting of this Agreement
or any part thereof.
COUNTERPARTS; FACSIMILE SIGNATURES. This Agreement may be executed in
one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. This Agreement may
be effective upon the execution and delivery by any party hereto of facsimile
copies of signature pages hereto duly executed by such party; provided, however,
that any party delivering a facsimile signature page covenants and agrees to
deliver promptly after the date hereof two (2) original copies to the other
party hereto.
MODIFICATION BY THE COURT. In the event that any provision or Section
of this Agreement violates any law of the state of California or is for some
other reason unenforceable as written in the state of California, the Employee
and the Company agree that the unenforceable provision or Section should not
cause the entire Agreement to become unenforceable unless it is caused to fail
in its essential purpose. In the event that any provision or Section of this
Agreement violates any law of the state of California or is for some other
reason unenforceable as written in the state of California, the Employee agrees
that the provision should be reduced in scope or length or otherwise modified by
the Court, if possible under the law, to cause the provision or Section of the
Agreement to be legal and enforceable but to still provide to the Company the
maximum protection available to it under the law.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.
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LIQUIDMETAL TECHNOLOGIES
By: /s/ Xxxx Xxxx
--------------------------------------------
Xxxx Xxxx, President and Chief Executive
Officer
Liquidmetal Technologies
000 Xxxxx Xxxxx Xxxxxx
Xxxxx, XX 00000
Facsimile Number: (000) 000-0000
EMPLOYEE
By: /s/ Xxxx Xxxxx
--------------------------------------------
Printed Name: Xxxx Xxxxx
----------------------------------
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