Addendum C to Employment Agreement between Quantum Fuel Systems Technologies Worldwide, Inc. and William Brian Olson (March 15, 2004)

Summary

This addendum, dated March 15, 2004, modifies the employment agreement between Quantum Fuel Systems Technologies Worldwide, Inc. and William Brian Olson. The main change is an increase in Mr. Olson's base salary to $300,000 per year, effective immediately. All other terms of the original employment agreement remain unchanged.

EX-10.29 3 dex1029.htm ADDENDUM C TO EMPLOYMENT AGREEMENT, DATED MARCH 15, 2004 Addendum C to Employment Agreement, dated March 15, 2004

EXHIBIT 10.29

 

ADDENDUM C TO EMPLOYMENT AGREEMENT

 

This addendum is made on March 15, 2004 by and between Quantum Fuel Systems Technologies Worldwide, Inc. (herein “Quantum) and William Brian Olson (herein “Employee”). For mutual and adequate exchange of consideration, the parties mutually agree to modify Employee’s Employment Agreement of September 1, 2002, as follows:

 

Section 2 of the above referenced Employment Agreement is hereby modified via incorporating the following additional language.

 

“2.1 (a) Effective March 15, 2004, Employee’s base salary is increased to $300,000.00 per year.”

 

/s/ William Brian Olson


  

/s/ Alan Niedzwiecki


William Brian Olson

   Alan Niedzwiecki
     President & CEO

Dated:March 15, 2004

    
     Quantum Fuel Systems
     Technologies Worldwide, Inc.
     Dated: March 15, 2004