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