EXHIBIT 10.44

 

December 02, 2004

 

Mr. Nico Rosier

Chief Financial Officer

Prolong Super Lubricants, Inc.

6 Thomas

Irvine, CA 92618

 

Re: Early Termination of Employment Agreement

 

Dear Nico:

 

Pursuant to our discussions, this letter will outline the terms of the early
termination of your Employment Agreement originally dated June 1, 2000 and the
Addendum thereto dated August 19th, 2002.

 

• Your final day of employment under the terms of the Employment Agreement
referenced above will be Wednesday, December 29, 2004. On that day, you will
resign your position as CFO of Prolong International Corporation and Prolong
Super Lubricants, Inc. With your resignation, all of the terms of the Employment
Agreement shall be deemed satisfied in full.

 

• You shall continue as an employee of the Company, working on auditing,
budgeting, accounting and other administrative matters as assigned to you by the
CEO for a period of six months, terminating your employment on June 30th, 2005.

 

• Assignments will include, but are not limited to:

 

1)    Assist the new CFO in the transitional process, if requested. 2)    Assist
in the 2004 year-end closing, if requested 3)    Assist the Company in raising
capital, if requested. 4)    Assist in preparing the 2005 operating budget and
business plan, if requested. 5)    Attend to the requirements of “Sarbanes Oxley
Section 404” internal control procedures.

 

• Your salary and minimum work schedule shall be as follows:

 

January 2005      $6,000 per month   3 days per week February 2005      $5,000
per month   2 days per week March 2005      $4,000 per month   1 day per week
April 2005      $3,000 per month   1 day per week from home May 2005      $3,000
per month   1 day per week from home June 2005      $3,000 per month   1 day per
week from home

 

• Your auto, medical, dental, vision, life and disability benefits shall
terminate on June 30, 2005, at which time you will receive information regarding
your COBRA rights.

 

• All accrued PTO will be paid on December 29, 2004 and no further PTO will
accrue.

 

• Pursuant to section 5.6 of your Employment Agreement, all stock options
currently granted will immediately vest so that all stock options will be fully
exercisable, and all restricted stock shall be exercisable for a period of one
(1) year following the date of termination.

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We appreciate the years of service that you’ve given Prolong and wish you great
luck in all your future endeavors.

 

Sincerely,

 

/s/ Elton Alderman

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Elton Alderman President and CEO

 

AGREED:     

/s/ Nicolaas Rosier

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   December 2, 2004 Mr. Nico Rosier    Date