Employment Agreement between Xethanol Corporation and Christopher d'Arnaud-Taylor (Chairman & CEO)

Summary

Xethanol Corporation agrees to employ Christopher d'Arnaud-Taylor as Chairman and Chief Executive Officer for a three-year term starting January 1, 2005, with an annual salary of $180,000, subject to review. He will report to the Board of Directors and perform typical CEO duties. He is eligible for stock options under the company's incentive plan and must sign a standard confidentiality and non-competition agreement. Either party may terminate the agreement with 10 days' notice. This letter will be replaced within 30 days by a more detailed agreement.

EX-10.3 2 e1033722.txt EXHIBIT 10.3 EXHIBIT 10.3 [GRAPHIC OMITTED] 1185 Avenue of the Americas, 20th Floor New York, NY 10036 ###-###-#### January 26, 2005 Mr. Christopher d'Arnaud-Taylor 360 West 22nd Street, 16B New York NY 10011 Dear Chris: This letter will confirm the terms of your employment by XETHANOL CORPORATION ("Xethanol"). 1. TITLE You shall be employed by Xethanol as Chairman and Chief Executive Officer reporting to the Board of Directors. 2. COMPENSATION Your salary shall be $180,000 per annum, payable in bi-weekly installments, subject to the other terms of this letter. This compensation will be reviewed by the end of the first quarter of 2005. 3. TERM You shall be an employee of Xethanol for a period of three years, beginning on January 1, 2005. Thereafter, you or Xethanol may terminate this agreement for any reason at any time upon 10 days' prior written notice. At the end of the notice period, your compensation will cease. Mr. Chris d'Arnaud-Taylor - ------------------------- 4. RESPONSIBILITIES Your responsibilities and duties shall be those ordinarily possessed by a Chairman & Chief Executive Officer. 5. STOCK OPTIONS Xethanol has established an Incentive plan for its key employees in which you will be eligible to participate. The Incentive plan provides for the grant of stock options under Xethanol's 2005 Stock Option Plan. 6. CONFIDENTIALITY AND NON-COMPETITION AGREEMENT You will be required to execute Xethanol's standard form of Confidentiality and Non-Competition Agreement. 7. SUPERSEDING AGREEMENT This agreement will be superseded within thirty (30) days with a new agreement that will be more comprehensive, provide a more detailed job description and outline your other benefits and level of participation in Xethanol's 2005 Stock Option Plan. Sincerely, XETHANOL CORPORATION By: ----------------------------------- Franz Skryanz Treasurer and Secretary Xethanol Corporation ____________________________ ACCEPTED