Employment Offer Letter between JMAR Technologies, Inc. and David G. Wessing for COO Position

Summary

JMAR Technologies, Inc. offers David G. Wessing the position of Chief Operating Officer, focusing on product marketing, business strategies, and partnerships. The agreement includes a $256,000 annual salary, a potential $100,000 first-year bonus, and options for 1,000,000 shares vesting over three years. Benefits include medical, dental, life, and disability insurance, relocation assistance, paid holidays, vacation, sick leave, and a 401(k) plan. The hire date is no later than March 10, 2008, with Wessing expected to support JMAR's business interests in the interim.

EX-10.2 4 jmar_ex1002.htm EMPLOYMENT LETTER - DAVID G. WESSING jmar_ex1002.htm

EXHIBIT 10.2 (+)

Offer to David Wessing

Position – COO with special focus on product marketing & business strategies, ventures & partnerships (chemical & biological detection – lasers and biosentry) reporting to the CEO.

Cash Compensation – $256,000 salary, plus first year bonus potential of $100,000 subject to accomplishment of TBD objectives and goals.

Equity – Warrant/options for 1,000,000 shares of JMAR common stock with exercise price of $0.10 and vesting as follows: one third (333,333 shares) at the end of each year for three years.

Hire Date – NLT March 10th, 2008; meanwhile use best efforts to support JMAR business interests.

Relocation Expenses – moving expenses incl HHG; airfare expenses for up to 4 round trips between SAN & ABQ during family separation period Mar-Jun timeframe; 60 days temporary housing.

Benefits


	o	Medical Insurance

HMO Plan – employee premium paid by JMAR, employee pays 40% of any additional family members premium

PPO Plan – employee pays 17% of the employee premium and 44% of any additional family members premium

Vision Indemnity – JMAR pays employee premium, employee pays for additional family members


	o	Dental Insurance

DMO Plan – employee premium paid by JMAR, employee pays 40% of any additional family members premium

PPO Plan – employee pays 34% of the employee premium and 46% of any additional family members premium


	o	Life Insurance – Employer paid premium – paid out at 1x annual salary to a maximum of $300,000


	o	LTD

Core premium paid by employer – paid out at 50% of monthly earnings up to a maximum benefit of $3,000

Buy-Up – paid by employee – paid out at 60% of monthly earnings up to a maximum benefit of $10,000


	o	STD – Employee paid premiums - paid out at 70% of weekly earnings up to $1,500 per week


	o	401(k) Employee Savings Plan – Employee can contribute up to 20% of salary with an annual maximum of $15,500 and $20,500 for employees over the age of 50. JMAR will make a contribution of 25% of employee’s contribution, not to exceed 25% of 3% of employee’s salary.


	o	Holidays – 10 paid holidays


	o	Vacations

You will accrue 3 weeks per year for the first 5 years of service and thereafter an additional day will accrue for each additional year of service up to a maximum of 5 weeks per year.

All Other Employees – accrue at 10 days per year for the first 5 years of service, 15 days per year after 5 years of service.

Sick – 48 hours per year, carried over from year to year up to a maximum of 96 hours

Leave of Absence for Death in Immediate Family – 3 days paid leave; may supplement with accrued leave

Jury Duty

Exempt Employees – will receive regular salary for any week of jury duty in which employee works any hours for JMAR

Non-exempt employees – are unpaid and may use accrued vacation leave

Unpaid Leave of Absence – JMAR offers short term leave, family or medical leave, pregnancy related leave, extended military leave, and military reserve training leave

On Behalf Of:

JMAR TECHNOLOGIES, INC.

s/ C. Neil Beer

C. Neil Beer, Ph.D.

President & CEO

ACCEPTED:

s/ David G. Wessing

David G. Wessing