Capstone Turbine Corporation Special Performance Bonus Extension Letter to Darren R. Jamison
Capstone Turbine Corporation, through its Board of Directors' compensation committee, has extended the period for Darren R. Jamison to earn a $100,000 Special Performance Bonus. Originally, the bonus was to be paid if Capstone achieved positive cash flow for any two consecutive quarters within the first two years of Jamison's employment. This extension allows Jamison to earn the bonus if the company achieves this goal at any time through the fiscal year ending March 31, 2010.
Exhibit 10.16
April 13, 2009
Mr. Darren R. Jamison
21211 Nordhoff Street
Chatsworth CA 91311
Dear Darren:
As described below, the compensation committee of the Capstone Turbine Corporation Board of Directors has extended the time period during which you can earn the Special Performance Bonus described in the December 1, 2006 letter agreement that was entered into when you commenced your employment by Capstone.
The letter agreement provides for a Special Performance Bonus of $100,000 to be paid to you upon the achievement of Capstone cash flow positive for any two (2) consecutive quarters during the first two years of your employment. On April 8, 2009, the compensation committee extended the opportunity to earn the Special Performance Bonus for achievement of positive cash flow for any two (2) consecutive quarters through the fiscal year ending March 31, 2010.
| Sincerely, |
|
|
|
|
|
|
|
| /s/ ELIOT G. PROTSCH |
|
| Eliot G. Protsch |
|
|
|
|
| Chairman of the Board |
|
| Capstone Turbine Corporation |
|
