ADDENDUM B TO EMPLOYMENT AGREEMENT
EXHIBIT 10.25
ADDENDUM B TO EMPLOYMENT AGREEMENT
This addendum is made on February 10, 2003 by and between QUANTUM Fuel Systems Technologies Worldwide, Inc. (herein QUANTUM) and Brian Olson (herein Employee). For mutual and adequate exchange of consideration, the parties mutually agree to modify Employees Employment Agreement of September 1, 2002, as follows, effective February 10, 2003.
Section 2.3 (b) of the above referenced Employment Agreement is hereby modified via incorporating the following language in place of the original language of Section 2.3 (b).
QUANTUM shall provide Employee a lump sum compensation of four hundred thirty-five ($435.00) dollars annually in lieu of the term life insurance stated in Section 2.3 (b) of Employees Employment Agreement of September 1, 2002.
/s/ | Brian Olson | /s/ | Alan Niedzwiecki | |||||
Brian Olson | Alan Niedzwiecki President & CEO | |||||||
Dated: Feb. 10, 2003 | ||||||||
QUANTUM Fuel Systems Technologies Worldwide, Inc. | ||||||||
Dated: Feb. 10, 2003 |