Document:

www.eXFILE.com 888-775-4789 --- NEXX SYSTEMS, INC.  FORM S-1

    EXHIBIT 10.5

    

    KEY
EMPLOYEE AGREEMENT

    

    To:          Stanley
D. Piekos As of June 29, 2006

    13 Noon Peak Road

    Waterville, New Hampshire
03215

    

    The
undersigned, NEXX SYSTEMS, INC., a Delaware corporation, as well as its
successors and assigns (hereinafter collectively referred to as the “Company”)
and STANLEY D. PIEKOS, of Waterville, New Hampshire, in consideration of and as
a condition of your employment or continued employment by the Company, hereby
agree as follows:

    

    l.           Position and
Responsibilities.

    

    1.1           You
shall serve as Vice President and Chief Financial Officer of the Company (or in
such other capacity as shall be designated by the President and reasonably
acceptable to you).  You will, to the best of your ability, devote
your full time and best efforts to the performance of your duties hereunder and
the business and affairs of the Company and perform such duties as may be
assigned to you by or on authority of the Company’s President from time to time
and the duties customarily associated with such capacity from time to time and
at such place or places as the Company shall designate are appropriate and
necessary in connection with such employment.

    

    1.2           You
will report directly to the Company’s President and Board of
Directors.

     

    2.           Term of
Employment.

    

    2.1           The
initial term of this Agreement shall be for the period set forth on Exhibit A annexed
hereto commen­cing with the date hereof.  Thereafter, this
Agreement shall be automatically renewed for successive periods of one year,
unless you or the Company shall give the other party not less than thirty (30)
days written notice of non-renewal.  Your employment with the Company
may be terminated as provided in Section 2.2.

    

    2.2           The
Company shall have the right, upon written notice to you, to terminate your
employment:

    

    (a)           immediately
at any time for “Cause” (as defined herein subject to your right of cure and
right to dispute as provided in Section 2.3 herein); or

    

    (b)           at
any time, without “Cause,” provided that the Company shall be obligated to pay
to you the Severance Benefits set forth in Sections 6 or 7, as applicable, of
Exhibit A, plus
any sums then due to you, including those expenses as are provided for in
Section 4 of Exhibit
A, less (i) applicable taxes and other required withholdings, and (ii)
any amounts you may owe to the Company.  Payments under this Section
2.2 (b) shall not be due or payable if you are terminated at any time for
“Cause” or if you voluntarily resign from your employment, except as set forth
in Section 7 of Exhibit
A.

    

    2.3           For
purposes of Section 2.2, the term “Cause” shall mean any of the
following:  (a) gross negligence in the performance of assigned
duties; (b) willful misconduct involving the Company, its vendors, customers
and/or potential customers; (c) refusal to perform or discharge the duties or
responsibilities assigned by the Board of Directors of the Company provided the
same are not illegal or unethical and the failure to correct such refusal and
perform such duties or responsibilities within two weeks (14 calendar days)
after written notice of such failure; (d) indictment under a felony or
misdemeanor involving moral turpitude; (e) willful or prolonged absence from
work not excused by disability; or (f) falseness of any warranty or
representation by you herein or the breach of your obligations under this
Agreement or your duties as an employee of the Company to the material detriment
of the Company.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2.4           In
the event of the Involuntary Termination (as hereinafter defined) of your
employment with the Company at any time, the Company hereby agrees to provide
you with Severance Benefits as defined in Section 6 of Exhibit A hereto or
payments in the event of a “Change in Control” as defined in Section 7 of Exhibit
A.  In this regard, the phrase “Involuntary Termination” shall
mean (a) any termination of your employment by the Company other than for
“Cause,” as defined in Section 2.3, or (b) any notice by the Company not to
renew this Agreement pursuant to Section 2.1.

    

    2.5           You
shall have the right to terminate this Agreement upon not less than thirty (30)
days prior written notice to the Company.

    

    3.           Compensation.  You
shall receive the compensation and benefits set forth on Exhibit A
(“Compensation”) for all services to be rendered by you hereunder and for your
transfer of property rights pursuant to an agreement relating to proprietary
information and inventions of even date herewith attached hereto as Exhibit C
between you and the Company (the “Employee NonCompetition, NonDisclosure and
Inventions Agreement”).

    

    4.           Other Activities during
Employment.

    

    4.1           Except
for any outside employments and director­ships currently held by you as
listed on Exhibit
B, and except with the prior written consent of the Company’s President,
you will not during the term of this Agreement under­take or engage in any
other employment, occupation or business enterprise other than one in which you
are an inactive investor.

    

    4.2           You
hereby agree that, except as disclosed on Exhibit B hereto,
during your employment hereunder, you will not, directly or indirectly, engage
(a) individually, (b) as an of­ficer, (c) as a director, (d) as an employee,
(e) as a consul­tant, (f) as an advisor, (g) as an agent (whether a
salesperson or otherwise), (h) as a broker, or (i) as a partner, coventurer,
stockholder or other proprietor owning directly or indirectly more than two
percent (2%) interest, in any firm, corporation, partnership, trust,
association, or other organization which is engaged in the research,
development, production, manufacture or marketing of equipment or processes in
direct competition with the Company or any other line of business engaged in or
under demonstrable development by the Company (such firm, corporation,
partnership, trust, association, or other organization being hereinafter
referred to as a “Prohibited Enterprise”).  Except as may be shown on
Exhibit B, you
hereby represent that you are not engaged in any of the foregoing capacities (a)
through (i) in any Prohibited Enterprise.

    

    5.           Former
Employers.

    

    5.1           You
represent and warrant that your employment by the Company will not conflict with
and will not be constrained by any prior or current employment, consulting
agreement or rela­tion­ship whether oral or written.  You
represent and warrant that you do not possess confidential information arising
out of any such employment, consulting agreement or relationship that, in your
best judgment, would be utilized in connection with your employment by the
Company in the absence of Section 5.2.

    

    5.2           If,
in spite of the second sentence of Section 5.1, you should find that
confidential information belonging to any other person or entity might be usable
in connection with the Company’s business, you will not intentionally disclose
to the Company or use on behalf of the Company any confidential informa­tion
belonging to any of your former employers; but during your employment by the
Company you will use in the performance of your duties all information which is
generally known and used by per­sons with training and experience comparable
to your own all information which is common knowledge in the industry or
other­wise legally in the public domain.

    

    6.           Noncompetition, Proprietary
Information and Inventions.  You agree to execute, deliver and
be bound by the provisions of the Employee NonCompetition, NonDisclosure and
Inventions Agreement attached hereto as Exhibit
C.

    

    
      
         

      

      
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    7.           Remedies.  Your
obligations under the Employee NonCompetition, NonDisclosure and Inventions
Agreement and the provisions of Sections 4, 6, and 8 of this Agreement (as
modified by Section 9, if applicable) shall survive the expiration or
termination of your employment (whether through your resignation or otherwise)
with the Company.  You acknowledge that a remedy at law for any breach
or threatened breach by you of the provisions of the Employee NonCompetition,
NonDisclosure and Inventions Agreement would be inadequate and you therefore
agree that the Company shall be entitled to such injunctive or other equitable
relief in case of any such breach or threatened breach.

    

    8.           Assignment.  This
Agreement and the rights and obliga­tions of the parties hereto shall bind
and inure to the benefit of any successor or successors of the Company by
reorganization, merger or consolidation and any assignee of all or substantially
all of its business and properties, but, except as to any such successor or
assignee of the Company, neither this Agreement nor any rights or benefits
hereunder may be assigned by the Company or by you, except by operation of
law.  The Company’s obligations and those of any successors or
assignees of the Company under this Agreement, including but not limited to the
severance provisions and other compensation and benefits due to you pursuant to
Exhibit A
hereto, will be a condition of and are to remain those of any successor or
assignee.

    

    9.           Interpretation.  IT
IS THE INTENT OF THE PARTIES THAT in case any one or more of the provisions
contained in this Agreement (including Exhibits A, B and C hereto) shall, for
any reason, be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect the other provisions
of this Agreement, and this Agreement shall be construed as if such invalid,
illegal or unenforceable provision had never been con­tained
herein.  MOREOVER, IT IS THE INTENT OF THE PARTIES THAT in case any
one or more of the provisions contained in this Agreement (including Exhibits A,
B and C hereto) shall for any reason be held to be excessively broad as to
duration, geographical scope, activity or subject, such provi­sion shall be
construed by limiting and reducing it as determined by a court of competent
jurisdiction, so as to be enforceable to the extent compatible with applicable
law.

    

    10.           Notices.  Any
notice which the Company is required to or may desire to give you shall be given
by personal delivery or registered or certified mail, return receipt requested,
addressed to you at your address of record with the Company, or at such other
place as you may from time to time designate in writing.  Any notice
that you are required or may desire to give to the Company hereunder shall be
given by personal delivery or by registered or certified mail, return receipt
requested, addressed to the Company at its principal office, or at such other
office as the Company may from time to time designate in writing.  The
date of personal delivery or the date of mailing any notice under this Section
10 shall be deemed to be the date of delivery thereof.

    

    11.           Waivers.  If
either party should waive any breach of any provision of this Agreement, such
party shall not thereby be deemed to have waived any preceding or succeeding
breach of the same or any other provision of this Agreement.

    

    12.           Complete Agreement;
Amendments.  The foregoing including Exhibits A, B and C
hereto, is the entire agreement of the parties with respect to the subject
matter hereof, supersed­ing any previous oral or written communications,
representations, understandings, or agreements with the Company or any officer
or representative thereof.  Any amendment to this Agreement or waiver
by the Company of any right hereunder shall be effective only if evidenced by a
written instrument executed by the parties hereto, upon authorization of the
Company’s Board of Directors.

    

    13.           Headings.  The
headings of the Sections hereof are inserted for convenience only and shall not
be deemed to consti­tute a part hereof or to affect the meaning of this
Agreement.

    

    14.           Counterparts.  This
Agreement may be signed in two counterparts, each of which shall be deemed an
original and both of which shall together constitute one agreement.

    

    
      
         

      

      
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    15.           Governing Law;
Venue.  This Agreement shall be governed by and construed under
Massachusetts law.  Venue for any dispute shall be the Superior Court
of the Commonwealth of Massachusetts for Middlesex County.

    

    16.           Advice of Separate
Counsel.  You acknowledge that you have been advised to review
this Agreement (including Exhibits A, B and C hereto) with your own legal
counsel and other advisors of your choosing and that prior to entering into this
Agreement, you have had the opportunity to review this Agreement with your
attorney and other advisors and have not asked (or relied upon) Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C. to represent you in this
matter.

    

    

    If you
are in agreement with the foregoing, please sign your name below and also at the
bottom of the Proprietary Information and Inventions Agreement, whereupon this
Agreement shall become binding in accordance with its terms.  Please
then return this Agreement to the Company.  (You may retain for your
records the accompanying counterpart of this Agreement enclosed
herewith).

    

    

    ACCEPTED
AND
AGREED:                                                             
 NEXX SYSTEMS, INC.

    

    ____________________________                                               By:____________________________

    STANLEY
D.
PIEKOS                                                                                Richard
S. Post, President

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
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    EXHIBIT
A

    

    EMPLOYMENT
TERM, COMPENSATION AND BENEFITS

    OF
STANLEY D. PIEKOS

    

    l.           Term.  The
term of the Agreement to which this Exhibit A is attached and made a part shall
be for a period from the date of this Agreement through June 28,
2007.

    

    2.           Compensation.

    

    a.           Base
Salary.                      Commencing
June 29, 2006, your base salary (the “Base Salary”) shall be established by the
Compensation Committee of the Board of Directors.  For the first 12
months, you shall receive a Base Salary at the rate of $175,000 per annum, paid
bi-weekly.

    

    
      	
              b.          
        

            	
              Bonus.

            

    

    

    i.    Fiscal 2006
Bonus.  For Fiscal 2006 (commencing on January 1,
2006),  you shall be entitled to receive a bonus up to 30% of your
Base Salary actually earned in Fiscal 2006, payable within twenty (20) days
following receipt of the Company’s 2006 audited financial
results.   Such bonus will be based on a combination of factors,
including Company profitability and your performance, as determined by the
Compensation Committee of the Board of Directors in its sole discretion. For
Fiscal 2006, the Bonus Pool is generated from profits with 50% of profits for
Fiscal 2006 being added to the Bonus Pool until the pool has reached an amount
equal to the sum of the bonuses of all eligible employees

    

    ii.   Bonus Eligibility in
Subsequent Years.  For Fiscal 2007 and subsequent years, you
shall be entitled to receive a bonus of up to 30% of your Base Salary as in
effect on the last day of such fiscal year, to be determined by the Compensation
Committee of the Board of Directors in its sole discretion.

    

    
      	
              c.          
        

            	
              Equity.

            

    

     

    i. Stock
Options.  During the course of your employment with the
Company, you will be eligible to receive stock options pursuant to the Company’s
2004 Employee, Director, and Consultant Stock Option Plan (or any successor
plan) in such amounts and pursuant to vesting schedules as may be determined
from time to time by the Company’s Board of Directors, in its discretion, taking
into account, among other factors, your performance and the Company’s
performance.

    

    ii. Initial Stock Option
Grant.  You shall be entitled to receive incentive stock
options to purchase up to an aggregate of 200,000 shares of the Company’s Common
Stock, at an exercise price equal to fair market value as determined by the
Board of Directors on or before September 30, 2006, exercisable as
follows:

    

    Vesting
Period:                                                    
   Total Shares
Vested:

    6/29/06 -
6/28/07                                                       No
shares vested

    6/29/07 -
6/28/08                                                              50,000

    6/29/08 -
6/28/09                                                             100,000

    6/29/09 -
6/28/10                                                     
       150,000

    6/29/09 -
6/28/16                                                             200,000

    

    Notwithstanding the foregoing, in the
event of a Change of Control (as defined herein), the vesting on such options
shall be accelerated for an additional 25% of the original option grant upon the
Change of Control (but in any event not to exceed 100% of the original option
grant).   For illustration purposes only, if there were a Change
of Control on June 30, 2007, total shares vested would equal 100,000 shares,
which assumes vesting of 50,000 shares through the remainder of the first
vesting date of June 29, 2007 and 50,000 additional shares (25% of the original
200,000 share option grant).  If there were a Change of Control prior
to June 29, 2007, 50,000 shares would vest in any instance.

    

    
      
         

      

      
        A -
1

        
          

        

      

      
         

      

    

    iii.           Subsequent Stock Option
Grants.  On or after July 1, 2008, you shall be entitled to
receive additional stock options as determined by the Board of Directors in its
sole and absolute discretion.

    

    iv.           Stock
Purchase.  Pursuant to the terms of a Restricted Stock Purchase
Agreement, in the form attached hereto as Exhibit “D”, the Company will provide
you with the opportunity to purchase up to $225,000 in value of Company Common
Stock (the number of shares and purchase price per share to be based on an
independent valuation of the Company’s Common Stock, which valuation is
currently in process and which is expected to be completed by September 30,
2006, but which in any event shall not exceed 375,000 shares of Common Stock),
such shares to be paid for by means of a promissory note as agreed between you
and the Company).  You may assign the right to purchase up to 50% of
the shares purchasable under this Section 2(c)(iv) to any retirement plan
maintained for your benefit.

    

    3.           Vacation, Insurance and
Benefits.   You shall be entitled to all legal holidays
recognized by the Company, and twenty-three days  paid vacation per
annum.  Any unused vacation must be used in the fiscal year in which
it has accrued in accordance with Company policy. You shall be eligible for
participation in any group insurance plans that may be established and
maintained by the Company for all full-time employees or which the Company is
required to maintain by law.  You shall also be entitled to
participate in any employee benefit programs that the Company’s Board of
Directors may establish for Company employees generally.

    

    4.           Reimbursement of
Expenses.  The Company shall reimburse you for all usual and
ordinary business expenses incurred by you in the scope of your employment
hereunder in accordance with the Company’s expense reimbursement
policy.

    

    5.           Other
Benefits.   The Company shall pay you up to $10,000 for
all appropriate relocation expenses (e.g., moving and other related expenses
paid to third parties).  Should you voluntarily terminate your
employment with the Company on or prior to June 28, 2007, you shall reimburse
all such relocation expenses to the Company within 20 days of written notice by
the Company to you. The Company shall also reimburse you for all lodging (but
not meal) expenses at a local Residence Inn or other similar residence (such
residence to be approved by the Company in writing in advance) for a period not
to exceed 90 days while seeking to relocate from your current residence to the
greater Billerica area.

    

    6.           Severance
Benefits.

    

    (a)           When
provided for in this Agreement, you shall be entitled to “Severance
Benefits.”  When used in this Agreement, the term “Severance Benefits”
shall mean a total amount equal to six (6) months of your then current annual
Base Salary plus an additional two months for each full 12 month period you have
been employed by the Company, except that in NO EVENT shall such Severance
Benefits exceed 12 months of your then current annual Base
Salary.  The Severance Benefits shall be paid via check to you in
equal bi-monthly installments commencing within ten (10) days after the date of
your termination of employment with the Company.

    

    (b)           The
Severance Benefits referred to above will be in addition to, and not in
substitution for, any accrued and unpaid salary, vacation, pension or other
similar retirement benefits, and unreimbursed expenses to which you may be
otherwise entitled.

    

    (c)           Notwithstanding
any other provision contained herein, Severance Benefits shall immediately cease
upon such date as you commence employment or consulting services which provide
for total compensation equal to at least 75% of your Base Salary (as determined
on a bi-weekly basis) as in effect immediately prior to your
termination.

    

    
      
         

      

      
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    7.           Change in
Control.

    

    (a)           For
purposes of this Agreement, “Change in Control” means and shall be deemed to
occur if any of the following occurs:

    

    (i)           the
acquisition, after June 29, 2006, by an individual, entity or group [within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934
as amended (the “Exchange Act”)] other than an existing stockholder or
stockholders of the Company of beneficial ownership (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of 50% or more of either (A) the
outstanding shares of common stock, par value $ .01 per share, of the Company
(the “Common Stock”), or (B) the combined voting power of the voting securities
of the Company entitled to vote generally in the election of directors (the
“Voting Securities”); or

    

     (ii)
approval by the Board of Directors and the shareholders of the Company of a (A)
tender offer to acquire any of the Common Stock or voting securities, (B)
reorganization, (C) merger or (D) consolidation, other than a reorganization,
merger or consolidation with respect to which all or substantially all of the
individuals and entities who were the beneficial owners, immediately prior to
such reorganization, merger or consolidation, of the Common Stock and voting
securities beneficially own, directly or indirectly, immediately after such
reorganization, merger or consolidation, more than 50% of the then outstanding
common stock and voting securities (entitled to vote generally in the election
of directors) of the Company resulting from such reorganization, merger or
consolidation in substantially the same proportions as their respective
ownership, immediately prior to such reorganization, merger or consolidation, of
the Common Stock and the voting securities; or

    

     (iii)
Approval by the Board of Directors and the shareholders of the Company of (A) a
complete or substantial liquidation or dissolution of the Company, or (B) the
sale or other disposition of all or substantially all of the assets of the
Company, excluding a reorganization of the Corporation under the corporate laws
of a state or province other than Delaware.

    

    (b)           In
the event of your actual termination of employment contemporaneous with or
within a 12-month period following a Change in Control, except (y) because of
your death, or (z) by the Company for Cause or Disability (as each is
hereinafter defined):  (i) you shall be entitled to receive, in lieu
of the sums described in Section 6 above, an amount equal to twelve (12) months
of your then Base Salary determined as if payable under Section 6 above, to be
paid in accordance with the terms of this Agreement;  and (ii) the
following additional provisions shall apply (which provisions shall supersede
any other provisions of the Agreement, including but not limited to Section 2 of
the Agreement, to the extent such provisions are inconsistent with the following
provisions):

    

    (1)           Disability.  For
purposes of this Section 7(b), termination by the Company of your employment
based on “Disability” shall mean termination because of your absence from your
duties with the Company on a full time basis for one hundred twenty (120)
consecutive days as a result of your incapacity due to physical or mental
illness, unless within thirty (30) days after Notice of Termination (as
hereinafter defined) is given to you following such absence, you shall have
returned to the full time performance of your duties.

    

    (2)           Cause.  For
purposes of this Section 7(b), termination by the Company of your employment for
“Cause” shall mean termination for cause as defined in Sections
2.3.

    

    8.           Taxes.  All
payments to be made to you under this Agreement will be subject to required
withholding of federal, state and local income and employment
taxes.

     
 

     

     

     

    
      
         

      

      
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    EXHIBIT
B

    

    

    

    OUTSIDE
EMPLOYMENTS AND DIRECTOR­SHIPS OF

    

    STANLEY
D. PIEKOS

    

    None

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
        B -
1

        
          

        

      

      
         

      

    

    EXHIBIT
C

    

    EMPLOYEE
NONCOMPETITION, NONDISCLOSURE

    AND
INVENTIONS AGREEMENT

    

    

    To:          NEXX
Systems, Inc.

    5 Suburban Park Drive

    Billerica,
Massachusetts  01801-3904

    

    

              As
of June 29, 2006

     

    The
undersigned, in consideration of and as a condition of my employment or
continued employment by you and/or by companies which you own, control, or are
affiliated with or their successors in business (collectively, the “Company,
hereby agrees as follows:

    

    1.           Confidentiality.  I
agree to keep confidential, except as the Company may otherwise consent in
writing, and, except for the Company’s benefit, not to disclose or make any use
of at any time either during or subsequent to my employment, any Inventions (as
hereinafter defined), trade secrets, confidential informa­tion, knowledge,
data or other information of the Company relating to products, processes,
know-how, designs, formulas, test data, customer lists, business plans,
marketing plans and strategies, pricing strategies, or other subject matter
pertain­ing to any business of the Company or any of its affiliates, which I
may produce, obtain, or otherwise acquire during the course of my employment,
except as herein provided.  I further agree not to deliver, reproduce
or in any way allow any such trade secrets, confidential information, knowledge,
data or other information, or any documentation relating thereto, to be
delivered to or used by any third parties without specific direction or consent
of a duly authorized representative of the Company.

    

    2.           Conflicting Employment;
Return of Confidential Material.  I agree that during my
employment with the Company I will not engage in any other employment,
occupation, consulting or other activity relating to the business in which the
Company is now or may hereafter become engaged, or which would otherwise
conflict with my obligations to the Company.  In the event my
employment with the Company terminates for any reason whatsoever, I agree to
promptly surrender and deliver to the Company all records, materials, equipment,
drawings, documents and data of which I may obtain or produce during the course
of my employment, and I will not take with me any description containing or
pertaining to any confidential information, knowledge or data of the Company
which I may produce or obtain during the course of my employment.

    

    3.           Assignment of
Inventions.

    

    3.1           I
hereby acknowledge and agree that the Company is the owner of all
Inventions.  In order to protect the Company’s rights to such
Inventions, by executing this Agreement I hereby irrevocably assign to the
Company all my right, title and interest in and to all Inventions to the
Company.

    

    3.2           For
purposes of this Agreement, “Inventions” shall mean all discoveries, processes,
designs, technologies, devices, or improvements in any of the foregoing or other
ideas, whether or not patentable and whether or not reduced to practice, made or
conceived by me (whether solely or jointly with others) during the period of my
employment with the Company which relate in any manner to the actual or
demonstrably anticipated business, work, or research and development of the
Company, or result from or are suggested by any task assigned to me or any work
performed by me for or on behalf of the Company.

    

    3.3           Any
discovery, process, design, technology, device, or improvement in any of the
foregoing or other ideas, whether or not patentable and whether or not reduced
to practice, made or conceived by me (whether solely or jointly with others)
which I develop entirely on my own time not using any of the Com­pany’s
equipment, supplies, facilities, or trade secret informa­tion (“Personal
Invention”) is excluded from this Agreement pro­vided such Personal
Invention (a) does not relate to the actual or demonstrably anticipated
business, research and development of the Company, and (b) does not result,
directly or indirectly, from any work performed by me for the
Company.

    

    
      
         

      

      
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    4.           Disclosure of
Inventions.  I agree that in connection with any Invention, I
will promptly disclose such Invention to my immediate superior at the Company in
order to permit the Company to enforce its property rights to such Invention in
accordance with this Agreement.  The Company shall receive my
disclosure in confidence.

    

    5.           Patents and Copyrights;
Execution of Documents.

    

    5.1           Upon
request, I agree to assist the Company or its nominee (at its expense) during
and at any time subsequent to my employment in every reasonable way to obtain
for its own benefit patents and copyrights for Inventions in any and all
countries.  Such patents and copyrights shall be and remain the sole
and exclusive property of the Company or its nominee.  I agree to
perform such lawful acts as the Company deems to be necessary to allow it to
exercise all right, title and interest in and to such patents and
copyrights.

    

    5.2           In
connection with this Agreement, I agree to execute, acknowledge and deliver to
the Company or its nominee upon request and at its expense all documents,
including assignments of title, patent or copyright applications,
assign­ments of such applications, assignments of patents or copyrights upon
issuance, as the Company may determine necessary or desirable to protect the
Company’s or its nominee’s interest in Inventions, and/or to use in obtaining
patents or copyrights in any and all countries and to vest title thereto in the
Company or its nominee to any of the foregoing.

    

    6.           Maintenance of
Records.  I agree to keep and maintain adequate and current
written records of all Inventions made by me (in the form of notes, sketches,
drawings and other records as may be specified by the Company), which records
shall be avail­able to and remain the sole property of the Company at all
times.

    

    7.           Prior
Inventions.  It is understood that all Personal Inventions, if
any, whether patented or unpatented, which I made prior to my employment by the
Company, are excluded from this Agreement.  To preclude any possible
uncertainty, I have set forth on Schedule A attached hereto a complete list of
all of my prior Personal Inventions, including numbers of all patents and patent
applications and a brief description of all unpatented Personal Inventions which
are not the property of a previous employer.  I represent and covenant
that the list is complete and that, if no items are on the list, I have no such
prior Per­sonal Inventions.  I agree to notify the Company in
writing before I make any disclosure or perform any work on behalf of the
Company that appears to threaten or conflict with proprietary rights I claim in
any Personal Invention.  In the event of my failure to give such
notice, I agree that I will make no claim against the Company with respect to
any such Personal Invention.

    

    8.           Other
Obligations.  I acknowledge that the Company from time to time
may have agreements with other persons or with the U.S. Government or agencies
thereof, which impose obligations or restrictions on the Company regarding
Inventions made during the course of work thereunder or regarding the
confidential nature of such work.  I agree to be bound by all such
obligations and restrictions and to take all action necessary to discharge the
Company’s obligations.

    

    9.           Trade Secrets of
Others.  I represent that my perfor­mance of all the terms
of this Agreement and as an employee of the Company does not and will not breach
any agreement to keep confidential proprietary information, knowledge or data
acquired by me in confidence or in trust prior to my employment with the
Company, and I will not disclose to the Company, or induce the Company to use,
any confidential or proprietary information or material belonging to any
previous employer or others.  I agree not to enter into any agreement
either written or oral in conflict herewith.

    

    
      
         

      

      
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      10.        
Non-Competition.

      (a)         
For a period of one (1) year after the termina­tion or expiration, for any
reason, of my employment with the Company hereunder (the “Noncompetition
Period”), absent the Company’s prior written approval, I will not directly or
indirectly engage in ac­tivities similar or reasonably related to those in
which I shall have engaged hereunder during the two years immediately preceding
termination or expiration for, nor render services similar or reasonably related
to those which I shall have rendered hereunder during such two years to, any
person or entity whether now existing or hereafter established which competes
with (or proposes or plans to directly compete with) the Company
(“Competi­tor”) in any line of business engaged in or under development by
the Company.  Nor shall I entice, induce or encourage any of the
Company’s other employees to engage in any activity which, were it done by me,
would violate any provision of this Exhibit C to my Key Employee
Agreement.  As used in this Section 10, the term “any line of business
engaged in or under development by the Company” shall be applied as at the date
of termination of my employ­ment, or, if later, as at the date of
termination of any post-employment consultation.

    

    

    (b)        
 During the Noncompetition Period, the provisions of Section 4.2 of my Key
Employee Agreement  shall be applicable to me and I shall comply
there­with.  As applied to such two (2) year post-employment
period, the term “any other line of business engaged in or under
develop­ment by the Company,” as used in Section 4.2, shall be applied as at
the date of termination of my employment with the Company or, if later, as at
the date of termination of any post-employ­ment consultation with the
Company.

    

    (c)          
In addition to and without limiting the foregoing, during the Noncompetition
Period, I shall not attempt to or assist any other person in attempting to do
any of the following: (i) encourage any customer, client, supplier or other
business relationship of the Company or any subsidiary or affiliate to terminate
or alter such relationship, whether contractual or otherwise, to the
disadvantage of the Company; as the case may be; (ii) encourage any prospective
customer or supplier not to enter into a business relationship with the Company;
(iii) impair or attempt to impair any relationship, contractual or otherwise,
written or oral, between the Company and any customer, supplier or other
business relationship of the Company; or (iv) sell or offer to sell or assist in
or in connection with the sale to any customer or prospective customer of the
Company any products of the type sold or rendered or under development by the
Company, for which products I had material dealings in the performance of my
duties within the period two years before my termination.  I acknowledge that my participation in the
conduct of any such business alone or with any person other than the Company
will materially impair the business and prospects of the Company.

     

    (d)           During
the one year period after the termination or expiration, for any reason, of my
employment with the Company hereunder, absent the Company’s prior written
approval, I shall not hire any director, officer, executive, employee or agent
of the Company or any subsidiary or affiliate, or encourage any such person to
terminate such relationship with the Company or any subsidiary or affiliate, as
the case may be.

     

    11.           Modification.  I
agree that any subsequent change or changes in my employment duties, salary or
compensation or, if applicable, in any Employment Agreement between the Company
and me, shall not affect the validity or scope of this Agreement.

    

    12.           Successors and
Assigns.  This Agreement shall be binding upon my heirs,
executors, administrators or other legal representatives and is for the benefit
of the Company, its successors and assigns.

    

    13.           Interpretation.  IT
IS THE INTENT OF THE PARTIES THAT in case any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect the other provisions of this Agreement, and
this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been con­tained herein.  MOREOVER, IT IS THE
INTENT OF THE PARTIES THAT in case any one or more of the provisions contained
in this Agree­ment shall for any reason be held to be excessively broad as
to duration, geographical scope, activity or subject, such provision shall be
construed by limiting and reducing it in accordance with a judgment of a court
of competent jurisdiction, so as to be enforceable to the extent compatible with
applicable law.

    

    
      
         

      

      
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    14.           Waivers.  If
either party should waive any breach of any provision of this Agreement, he or
it shall not thereby be deemed to have waived any preceding or succeeding breach
of the same or any other provision of this Agreement.

    

    15.           Complete Agreement,
Amendments.  I acknowledge receipt of this Agreement, and agree
that with respect to the subject matter thereof it is my entire agreement with
the Company, super­seding any previous oral or written communications,
repre­senta­tions, understandings, or agreements with the Company or any
officer or representative thereof.  Any amendment to this
Agree­ment or waiver by either party of any right hereunder shall be
effective only if evidenced by a written instrument executed by the parties
hereto, and, in the case of the Company, upon written authorization of the
Company’s Board of Directors.

    

    16.           Headings. The
headings of the sections hereof are inserted for convenience only and shall not
be deemed to consti­tute a part hereof nor to affect the meaning
thereof.

    

    17.           Counterparts.  This
Agreement may be signed in two counter­parts, each of which shall be deemed
an original and both of which shall together constitute one
agreement.

    

    18.           Governing
Law.  This Agreement shall be governed and construed under
Massachusetts law.  Venue for any dispute shall be the Superior Court
of the Commonwealth of Massachusetts for Middlesex County.

    

    19.           Employment
Status.  Nothing in this Agreement shall affect in any manner
whatsoever the right or power of the Company to terminate the employment of the
Employee.

     

     

    
 

    [THIS
SPACE INTENTIONALLY LEFT BLANK]

     

     

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
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    In
witness whereof, the parties have executed this NonCompetition, NonDisclosure
and Inventions Agreement as of the date first written above.

    

    EMPLOYEE

    

    

    /s/ Stanley D.
Piekos

                                                                    STANLEY
D. PIEKOS

    

    

    Accepted
and Agreed:

    

    NEXX
SYSTEMS, INC.

    

    

    By: /s/ Richard S.
Post                 

         Richard
S. Post, President

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
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    SCHEDULE A to EXHIBIT
C

    

    

    LIST OF
PRIOR INVENTIONS OF STANLEY D. PIEKOS

     

     

     

     

    
 

    
      
        	 	 	Identifying
      Number or	 
	
                Title

              	
                Date

              	
                Brief Description

              	 
      

      

    [NONE]

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        C -
6www.eXFILE.com 888-775-4789 --- NEXX SYSTEMS, INC.  FORM S-1

    EXHIBIT
10.6

    

    EMPLOYMENT
AGREEMENT

     

    This Employment Agreement (the
“Agreement”), made and entered into this 13th day
of May, 2002 (the “Effective Date”), by and between NEXX Systems, LLC, a
Delaware limited liability company with its principal offices located at 90
Industrial Way, Wilmington, MA 01887 (“NEXX”), and Arthur Keigler (the
“Employee”), an individual residing at 20 Plain Road, Wellesley, MA
02481.  As used herein, the term “Company” shall mean and refer to (i)
NEXX prior to the consummation of the Merger Transaction (as defined below) and
(ii) AWT from and after the consummation thereof.

    

    WHEREAS, the Employee currently works
for All Wet Technologies, Inc. (“AWT”);

    

    WHEREAS,
NEXX and AWT are currently negotiating a merger agreement between the companies
(the “Merger Agreement”), pursuant to which NEXX would be merged with and into a
wholly-owned subsidiary of AWT (the “Merger Transaction”);

    

    WHEREAS, the Company wishes to employ
the Employee in connection with the development of a product line for
photo-resist and metal deposition tools (the “Product Line”);

    

    WHEREAS, the Employee possesses the
skills necessary to fulfill that need; and

    

    WHEREAS, the Employee and the Company
desire to enter into a formal Employment Agreement to assure the harmonious
performance of the affairs of the Company.

    

    NOW, THEREFORE, in consideration of the
mutual promises, terms, provisions, and conditions contained herein, the parties
hereto agree as follows:

    

    1.            
Employment.

    

    The Company hereby agrees to employ the
Employee and the Employee agrees to report to the President and Board of
Directors of the Company.  In addition to the Employee’s initial role
in connection with the development of the Product Line, the Employee agrees to
perform such other services for the Company as may be assigned from time to time
by the President and/or the Board of Directors of the Company.  The
Employee accepts such employment upon the terms and conditions hereinafter set
forth, and further agrees to perform to the best of his ability the duties
associated with such position as determined by the President and the Board of
Directors of the Company (the “Board”).  The Employee shall devote his
full business time and attention to his duties hereunder.

    

    2.           
 Term of
Employment.

    

    The term of the Employee’s employment
under this Agreement will commence on the Effective Date.  Subject to
the provisions of Sections 10 and 11 of this Agreement, the term of the
Employee’s employment hereunder shall be for a three (3) year period commencing
on the Effective Date (the “Initial Term”).  The Initial Term shall be
automatically extended for successive one (1) year periods (each an “Additional
Term”) unless the Company or the Employee gives the other notice of
non-extension at least sixty (60) days before the end of the Initial Term or the
then-current Additional Term.  The Initial Term and any Additional
Terms together shall be referred to as the “Term.”  The last day of
the Term shall be referred to as the “Expiration Date,” irrespective of any
earlier termination in accordance with the terms of this Agreement.

    

    3.         
   Compensation and
Benefits.

    

    a.           Salary.  As
compensation for services to be rendered pursuant to this
Agreement,  the Company agrees to pay the Employee a base salary (the
“Salary”) at an annual rate of (i) commencing on the Effective Date and
continuing for the remainder of the first year of the Initial Term, ONE HUNDRED
AND SEVENTY FIVE THOUSAND DOLLARS ($175,000).  Thereafter, and during
any Additional Term, the Board, in its discretion, may 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    determine
appropriate increases to the Employee’s Salary, provided, however,
that in no event shall the Employee’s Salary be diminished below the initial
rate or any increased rate without the mutual consent of the Employee and the
Company.  The Salary shall be payable in such installments as is the
standard payroll practice of the Company.

    

    
      b.         
Bonus.

    

    

    
      i.  One-time Signing
Bonus.  Upon the consummation of the Merger Transaction,
the Employee shall be entitled to a one-time signing bonus amounting to Two
Hundred and Fifty Thousand Dollars ($250,000) (the “Signing Bonus”) which shall
accrue as a legal obligation of the Company at the Effective Time, as that term
is defined in the Merger Agreement.  The Signing Bonus is payable as
follows:  (i) One Hundred Fifty Thousand Dollars ($150,000), payable
in cash at the Effective Time, and (ii) One Hundred Thousand Dollars ($100,000),
payable on the twelve (12) month anniversary of the Effective Date, pursuant to
the terms of a Promissory Note, a copy of  which is attached hereto as
Exhibit
A.

    

    

    
      ii.  Employee Bonus
Plan.  The Employee shall be entitled to participate
in the
Company’s employee bonus plan in accordance with the terms of such
plan.  The Company shall have the discretion to determine the amount
of any bonus paid to the Employee.  However, the Employee will be
eligible to receive a maximum bonus under such plan not to exceed 30% of his
annual Salary for the year to which any bonus relates.  The Employee’s
bonus eligibility will be linked directly to the profitability of the Company’s
“Stratus” (Wet processing products) product line.

    

    

    
      c.         
Equity.

    

    

    
      i.  Stock
Options.  Upon the closing of the Merger Transaction and
during
the course of the Employee’s employment with the Company, the Employee will be
eligible to receive stock options pursuant to the Company’s prospective 2002
Employee, Director, and Consultant Stock Option Plan (or any successor plan) in
such amounts and pursuant to vesting schedules as may be determined from time to
time by the Company’s Board of Directors, in its discretion, taking into
account, among other factors, the Employee’s performance and the Company’s
performance.

    

    

    
      ii.  Restricted
Stock.  Contemporaneously with the closing of the
Merger Transaction (the “Merger Closing Date”), the Employee and the Company
shall enter into the Company’s standard form of Stock Restriction Agreement,
pursuant to which (A) the Employee shall grant to the Company the right to
repurchase up to 100% of the outstanding shares of AWT capital stock (the
“Employee Restricted Stock”) owned by the Employee immediately prior to the
Merger Closing Date (less any of such shares that are subject to a general
indemnity escrow pursuant to the Merger Agreement) at a per share price equal to
one one-hundredth of one cent ($0.0001), (B) such repurchase right shall lapse
as to one-third of the shares of Employee Restricted Stock on each of the first
three anniversaries of the Merger Closing Date and (C) the Employee shall
deliver the Employee Restricted Stock to the Company to be held in escrow
pursuant to such Stock Restriction Agreement.

    

    

    d.           Benefits.

    

    (i)           Employee Benefit Plans
Generally. The Employee shall be entitled to participate in all employee
benefit plans which the Company provides or may establish from time to time for
the benefit of its Employee employees, including without limitation group life,
medical, dental, surgical and other health insurance, short and long-term
disability, 401(k) and similar plans.

    

    (ii)           Vacation.  The
Employee shall be entitled to 21 days of vacation time for each twelve (12)
month period during the Term, which may be taken at such time(s) as the Employee
may elect, subject to the needs of the Company’s business.  The
Employee shall also be entitled to all paid holidays that the Company provides
to its employees, as well as all religious holidays that he
observes.  The Employee shall not have the right to carry-over any
vacation days earned during any one year period to a subsequent year and
therefore, any such unused vacation days shall be forfeited by the
Employee.

     

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (iii)           Life
Insurance.  The Company agrees to take all reasonable action to
purchase and maintain, with the cooperation of the Employee, a life insurance
policy in the name of the Employee and in the amount of $1,000,000, during the
term of this Agreement; provided, that, the Employee’s application for such
insurance is approved and underwritten with standard terms and conditions and
with standard premiums.

    

    e.           Expenses.  The
Company shall pay or reimburse the Employee for all reasonable out-of-pocket
expenses actually incurred by the Employee during the Term in performing
services hereunder, including without limitation, those expenses associated with
travel, entertainment and other business expenses, provided that the Employee
provides receipts and proof for such expenses in accordance with the Company’s
policies.

    

    4.           Confidentiality, Disclosure
of Information.

    

    The Employee recognizes and
acknowledges that he will have access to Confidential Information (as defined
below) relating to the business or interests of the Company or of persons with
whom the Company may have business relationships.  Except as permitted
herein, the Employee will not during the Term, or at any time following the
Term, disclose or permit to be known to any other person or entity (except as
required by applicable law or in connection with the performance of the
Employee’s duties and responsibilities hereunder), or use for the Employee’s
personal benefit or gain, any Confidential Information of the
Company.  The term “Confidential Information” includes, without
limitation, information relating to the Company’s business affairs, proprietary
technology, trade secrets, processes, plans, products, source codes, sources of
supply and material, operating or other cost-data, research and development
data, know-how, market studies and forecasts, competitive analyses, pricing
policies, price lists or data relating to pricing of the Company’s products or
services, training materials, supplier information, operating procedures,
employee lists, employment agreements, personnel policies, the substance of
agreements with customers, suppliers and others, marketing arrangements, and
customer lists, customer proposals, and information relating to business
operations and strategic plans of third parties with which the Company has or
may be assessing commercial arrangements, any of which information is not
generally known to the public or to actual or potential competitors of the
Company (other than through a breach of this Agreement).  Therefore,
the Employee will not, without the prior written consent of the Board, disclose
such Confidential Information or use the same.  This obligation shall
continue until such Confidential Information becomes publicly available, other
than pursuant to a breach of this Section 4 by the Employee, regardless of
whether the Employee continues to be employed by the Company.  It is
further agreed and understood by and between the parties to this Agreement that
all information and records relating to the Company, as hereinabove described,
shall be the exclusive property of the Company and, upon termination of
Employee’s employment with the Company, all documents, records, reports,
writings and other similar documents containing Confidential Information,
including copies thereof, then in the Employee’s possession or control shall be
returned to and left with the Company.

    

    
      5.          
Inventions Discovered by
Employee.

    

    

    The
Employee represents that the attached Exhibit B contains a
complete list of all inventions made, conceived or first reduced to practice by
the Employee, under the Employee’s direction or jointly with others prior to the
Employee’s employment with the Company (“Prior Inventions”) and which are not
assigned to the Company hereunder.  If disclosure of any such Prior
Invention would cause me to violate any prior confidentiality agreement, the
Employee understands that the Employee shall not to list such Prior Inventions
in Exhibit B
but shall only disclose a cursory name for each such invention, a listing of the
party(ies) to whom it belongs and the fact that full disclosure as to such
invention has not been made for that reason.  A space is provided on
Exhibit B for
such purpose.  If there is no such Exhibit B attached
hereto, the Employee represents that there are no such Prior
Inventions.  If, in the course of the Employee’s employment with the
Company, the Employee incorporate a Prior Invention into a Company product,
process or machine, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license (with rights to
sublicense through multiple tiers of sublicensees) to make, have made, modify,
use and sell such Prior Invention.  Notwithstanding the foregoing, the
Employee agrees that the Employee will not incorporate, or permit to be
incorporated, Prior Inventions in any Inventions of the Company without the
Company’s prior written consent.

    

    The Employee shall promptly disclose to
the Company any invention, improvement, discovery, process, formula, design,
method or other intellectual property, whether or not patentable, whether or not
copyrightable (collectively, “Inventions”), that relates to any line of business
in which the Company engages and is made, 

     

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    conceived
or first reduced to practice by the Employee, either alone or jointly with
others, while performing services hereunder (or, if based on or related to any
Confidential Information, made by the Employee within two (2) years after the
termination of such employment) which (a) pertain to any line of business
activity of the Company, whether then conducted or then being planned by the
Company, (b) are aided by the use of time, material or facilities of the
Company, whether or not during working hours or on the Company premises, or (c)
relate to any of the Employee’s work during the period of the Employee’s
employment with the Company, whether or not during normal working
hours.  The Employee hereby assigns to the Company all of the
Employee’s right, title and interest in and to any such
Inventions.  During and after the Term, the Employee shall execute any
documents necessary to perfect the assignment of such Inventions to the Company
and to enable the Company to apply for, obtain and enforce patents, trademarks
and copyrights in any and all countries on such Inventions, including, without
limitation, the execution of any instruments and the giving of evidence and
testimony, without further compensation beyond the Employee’s agreed
compensation during the course of the Employee’s employment.  Without
limiting the foregoing, the Employee further acknowledges that all original
works of authorship by the Employee, whether alone or jointly with others
related to the Employee’s employment with the Company and which are protectable
by copyright are “works made for hire” within the meaning of the United States
Copyright Act, 17 U.S.C. § 101, as amended, the copyright of which shall be
owned solely, completely and exclusively by the Company.  If any
Invention is considered to be work not included in the categories of work
covered by the United States Copyright Act, 17 U.S.C. § 101, as amended,
such work shall be owned solely by, or hereby assigned or transferred
completely, exclusively to, the Company.  The Employee hereby
irrevocably designates counsel to the Company as the Employee’s agent and
attorney-in-fact to execute and file any such document and to do all lawful acts
necessary to apply for and obtain patents and copyrights and to enforce the
Company’s rights under this Section.  This Section 5 shall survive the
termination of this Agreement.

    

    6.           Non-Competition and
Non-Solicitation.

    

    The Employee acknowledges that the
Company invests substantial time, money and resources in the development and
retention of its Inventions, Confidential Information (including trade secrets)
customers, accounts and business partners, and further acknowledges that during
the course of the Employee’s employment, the Employee will have access to the
Company’s Inventions and Confidential Information (including trade secrets), and
will be introduced to existing and prospective customers, accounts and business
partners of the Company.  The Employee acknowledges and agrees that
any and all “goodwill” associated with any existing or prospective customer,
account or business partner belongs exclusively to the Company including, but
not limited to, any goodwill created as a result of direct or indirect contacts
or relationships between the Employee and any existing or prospective customers,
accounts or business partners.  The parties to this Agreement
expressly acknowledge and agree that the Employee possesses skills that are
special, unique or extraordinary, and that the value of the Company depends, in
substantial part, upon the Employee’s use of such skills on the Company’s
behalf.

    

    In recognition of this, the Employee
covenants and agrees that:

    

    (a)           During
the Employee’s employment with the Company, and for a period of one (1) year
commencing on the termination of the Employee’s employment by the Company or the
Employee, the Employee may not, without the prior written consent of the Board,
(whether as an employee, agent, servant, owner, partner, consultant, independent
contractor or representative, stockholder or in any other capacity whatsoever)
perform any work for, or conduct any business with, any entity or person
(including the Employee) which is engaged in the research, development,
production, manufacture or marketing of equipment or processes in direct
competition with the Company or any other line of business engaged in or under
demonstrable development by the Company during the Employee’s employment or at
the time of termination thereof (such entity or person being hereinafter
referred to as a "Prohibited Enterprise").  The Employee hereby
represents that he is not engaged in any of the foregoing capacities for any
Prohibited Enterprise.  The parties agree that, given the specific and
global nature of the Company’s business, any geographical limitations on this
non-competition agreement are inappropriate.

    

    (b)           During
the Employee’s employment with the Company and for a period of one (1) year
commencing on the termination of the Employee’s employment with the Company, the
Employee may not, directly or indirectly, entice, solicit or encourage any
Company employee to leave the employ of the Company or any independent
contractor to sever the independent contractor’s engagement with the Company,
nor may the Employee, directly or indirectly, be involved in the recruitment or
hiring of any Company employee or any independent contractor who is then-engaged
by the Company on behalf of the Employee or any person or entity other than the
Company, absent prior written consent to do so from the Board.

    

    
      
         

      

      
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    (c)           During
the Employee’s employment with the Company and for a period of one (1) year
commencing on the termination of the Employee’s employment with the Company, the
Employee may not, directly or indirectly, entice, solicit or encourage any
customer or business partner, or any prospective customer or business partner,
of the Company to cease doing business with the Company, reduce the level of
business it conducts with the Company or commence doing business with any other
entity.

    

    7.           Non-Disparagement.

    

    Excepting statements made in good faith
for purposes of advancing the interests of the Company, the Employee hereby
agrees that during the course of the Employee’s employment with the Company and
at all times thereafter, the Employee will not make any statement that is
professionally or personally disparaging about, or adverse to, the interests of
the Company, any of its officers, directors, shareholders or employees
including, but not limited to, any statement that disparages any person,
product, service, finances, financial condition, capabilities or other aspect of
the business of the Company or any of its officers, directors, shareholders or
employees.  The Employee further agrees that during the course of the
Employee’s employment with the Company and at all times thereafter, the Employee
will not engage in any conduct that is intended to or has the result of
inflicting harm upon the professional or personal reputation of the Company or
any of its officers, director, shareholders or employees.  Upon the
termination of the Employee’s employment hereunder, the Company agrees to advise
its officers and directors not to make any statement that is professionally or
personally disparaging about, or adverse to, the Employee or engage in any
conduct that is intended to or has the result of inflicting harm upon the
professional or personal reputation of the Employee.

    

    8.           Provisions Necessary and
Reasonable.

    

    (a)         The
Employee agrees that (i) the provisions of Sections 4, 5, 6 and 7 of this
Agreement are necessary and reasonable to protect the Company’s Confidential
Information, Inventions, and goodwill; (ii) any and all specific temporal,
geographic and substantive provisions set forth in Section 6 of this Agreement
are reasonable and necessary to protect the Company’s business interests; and
(iii) in the event of any breach of any of the covenants set forth herein, the
Company would suffer substantial irreparable harm and would not have an adequate
remedy at law for such breach.  In recognition of the foregoing, the
Employee agrees that in the event of a breach or threatened breach of any of
these covenants, in addition to such other remedies as the Company may have at
law, without posting any bond or security, the Company shall be entitled to seek
and obtain equitable relief, in the form of specific performance, and/or
temporary, preliminary or permanent injunctive relief, or any other equitable
remedy which then may be available.  The seeking of such injunction or
order shall not affect the Company’s right to seek and obtain damages or other
equitable relief on account of any such actual or threatened
breach.

    

    (b)           If
any of the covenants contained in Sections 4, 5, 6 and 7 hereof, or any part
thereof, are hereafter construed to be invalid or unenforceable, the same shall
not affect the remainder of the covenant or covenants, which shall be given full
effect without regard to the invalid portions.

    

    (c)           If
any of the covenants contained in Sections 4, 5, 6 and 7 hereof, or any part
thereof, are held to be unenforceable by a court of competent jurisdiction
because of the temporal or geographic scope of such provision or the area
covered thereby, the parties agree that the court making such determination
shall have the power to reduce the duration and/or geographic area of such
provision and, in its reduced form, such provision shall be
enforceable.

    

    9.           Representations Regarding
Prior Work and Legal Obligations.

    

    (a)           The
Employee represents that the Employee has no agreement or other legal obligation
with any prior employer or any other person or entity that restricts the
Employee’s ability to continue employment with, or to perform any function for,
the Company, as described in this Agreement.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (b)           The
Employee acknowledges that he has not and will not misappropriate any Invention
that the Employee played any part in creating while working for any former
employer.

    

    (c)           The
Employee acknowledges that the Company is basing important business decisions on
these representations, and affirms that all of the statements included herein
are true.

    

    10.           Termination and
Severance.

    

    Notwithstanding the provisions of
Section 2 of this Agreement, the Employee’s employment hereunder may terminate
under the following circumstances:

    

    (a)           Termination by the Company
Without Cause.  The Employee’s employment hereunder may be
terminated, without Cause (as defined below) by the Company upon seven (7) days
written notice to the Employee; provided, however,
that if the Company terminates the Employee’s employment without Cause, the
Company shall (i) continue to pay the Employee’s Salary for a period of six (6)
months or until such time as the Employee obtains substitute employment at not
less than 75% of the Employee’s Salary hereunder as of the time of termination,
whichever occurs first; (ii) provide the Employee with health insurance coverage
for a period of six (6) months that is the same or substantially similar to that
provided to the Employee while employed by the Company at substantially the same
cost to the Employee; (iii) pay the Employee, within five (5) days of
termination, for all accrued but unused vacation time earned through the date of
termination; (iv) pay, within five (5) days of termination, the Employee the pro
rata portion of his annual Bonus earned through the termination date; (v) pay
within five (5) days of termination all other accrued wages or bonuses including
the balance due on the Promissory Note; (vi) take all necessary and reasonable
action, in the ordinary course of business, to pay any other accrued employee
benefits to the Employee, in accordance with the Company’s Employee Benefit
Plans and as required under applicable state and federal laws; (vii) forfeit the
Company’s repurchase rights to all Employee Restricted Stock under Section
3(c)(ii) and upon termination, Employee will become fully vested in such
Employee Restricted Stock; provided, further,
that notwithstanding anything to the contrary set forth in this Section 10(a) of
the Agreement, the Company and the Employee hereby acknowledge and agree that if
the Merger Transaction does not occur as contemplated by the Merger Agreement,
the Company shall have the right to terminate the Employee hereunder without
cause and without any obligation to make any payment required under this Section
10(a)(i) – (vii), upon seven (7) days written notice to the
Employee.

    

    (b)           Termination by the Company
for Cause.  The Company may terminate this Agreement for Cause
at any time, upon written notice to the Employee setting forth in reasonable
detail the nature of such Cause which notice shall be effective immediately
unless a later date is stated in such notice.  For purposes of this
Agreement, the Company shall have “Cause” to terminate Employee’s employment
hereunder upon (i) any act or omission that consists of the Employee’s material
breach of the terms of this Agreement; (ii) the Employee’s material failure to
perform the Employee’s duties hereunder after written notice by the Company
detailing the nature of such failure the expiration of a twenty (20) day period
in which to cure such failure;  (iii) the Employee’s conviction for
any felony involving moral turpitude or that relates to Company business or
assets; or (iv) any act or omission which constitutes a “for cause” termination
under applicable law.  Upon the giving of written notice of
termination for Cause of the Employee’s employment, the Company shall have no
further obligation or liability to the Employee other than for compensation
earned under this Agreement to the date of termination, which shall include any
accrued but unused vacation time.  In addition, upon a termination
under this Section 10(b), the Company shall take all necessary and reasonable
action, in the ordinary course of business, to pay any other accrued employee
benefits to the Employee, in accordance with the Company’s Employee Benefit
Plans and as required under applicable state and federal laws.

    

    (c)           Death.  In
the event of the Employee’s death during the Term of this Agreement, the
Employee’s employment hereunder shall immediately and automatically terminate,
and the Company shall have no further obligation or duty to the Employee other
than for compensation earned under this Agreement to the date of termination
(which shall include any accrued but unused vacation time).  In
addition, upon a termination under this Section 10(c), the Company shall take
all necessary and reasonable action, in the ordinary course of business, to pay
any other accrued employee benefits to the Employee, in accordance with the
Company’s Employee Benefit Plans and as required under applicable state and
federal laws.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (d)           Disability.  The
Company may terminate the Employee’s employment hereunder, upon written notice
to the Employee, in the event that the Employee becomes disabled during the
Employee’s employment under this Agreement through any illness, injury,
accident, or condition of either a physical or psychological nature and, as a
result, is, with or without reasonable accommodation, unable to perform the
essential functions and services contemplated hereunder for (a) a period of
ninety (90) consecutive days, or (b) for shorter periods aggregating one hundred
twenty (120) days during any twelve (12) month period during the
Term.  Any such termination shall become effective upon mailing or
hand delivery of notice that the Company has elected its right to terminate
under this subsection 10(d), and the Company’s obligations to the Employee under
such circumstances shall be limited to compensation earned under this Agreement
to the date of termination, which shall include any accrued but unused vacation
time.  In addition, upon a termination under this Section 10(d), the
Company shall take all necessary and reasonable action, in the ordinary course
of business, to pay any other accrued employee benefits to the Employee, in
accordance with the Company’s Employee Benefit Plans and as required under
applicable state and federal laws.  Upon the Company’s termination of
the Employee’s employment under this Section 10(d), the Company’s repurchase
rights to the Employee Restricted Stock under Section 3(c)(ii) shall be
partially forfeited and upon such termination, the Employee Restricted Stock
will be vested through the next anniversary of the Effective Date, following
such termination.

    
 

    
      	
              11.

            	
              Change of
      Control.

            

    

    

    
      	
              (a)        
        

            	
              In
      the event of a Change of Control (as defined herein), and if, subsequent
      to such Change of Control,

            

    

    (i)           the
Employee’s job duties, job location and/or compensation (including his base
Salary, and Bonus), are not substantially similar to those performed and/or
enjoyed by the Employee prior to such Change of Control, and the Employee
terminates this Agreement by giving at least thirty (30) days prior written
notice to the Company; or

    

    (ii)           the
Company terminates this Agreement without Cause (as defined in Section 10
above),

    

    then the
Company must provide the Employee with the following:

    

    (a) the
Employee’s base Salary through the date of termination at the rate in effect on
the date of the Change of Control, plus any accrued but unused vacation
time;

    

    (b)
severance pay in the amount of the Employee’s annual base Salary for six (6)
months at the rate in effect on the date of the Change of Control;

    

    (c)
health insurance coverage for a one (1) year period following the date of
termination that is the same or substantially similar to that provided to the
Employee while employed by the Company at substantially the same cost to the
Employee;

    

    (d)
immediate vesting of all of the Employee Restricted Stock, to the extent not
already vested, such that the Company’s repurchase rights under Section 3(c)(ii)
shall be forfeited;

    

    (e) an
acceleration of vesting equal to one year for the stock options awarded to the
Employee, which shall become immediately exercisable and which shall remain
exercisable for the periods specified in the underlying stock option agreement;
and

    

    (f) the
unpaid balance under the Promissory Note.

    

    For purposes of this Section 11(a), the
Employee’s job location shall be deemed “substantially similar” so long as the
Employee’s job location is located within a fifty (50) mile radius of the
Company’s current offices located at 90 Industrial Way, Wilmington,
Massachusetts 01887.

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (b)           As
used herein, a “Change of Control” shall be deemed to occur at any time
following the consummation of the Merger Transaction, if:

    

    the
shareholders of the Company approve, other than the Merger Transaction, (A) any
consolidation or merger of the Company (x) where the shareholders of the
Company, immediately prior to the consolidation or merger, would not,
immediately after the consolidation or merger, beneficially own, directly or
indirectly, shares representing in the aggregate more than fifty percent (50%)
of the combined voting power of all the outstanding securities of the
corporation issuing cash or securities in the consolidation or merger (or of its
ultimate parent corporation, if any), or (y) where the members of the
Board, immediately prior to the consolidation or merger, would not, immediately
after the consolidation or merger, constitute more than fifty percent (50%) of
the Board of the Company issuing cash or securities in the consolidation or
merger (or of its ultimate parent corporation, if any), (B) any sale,
lease, exchange or other transfer (in one transaction or a series of
transactions contemplated or arranged by any party as a single plan) of all or
substantially all of the assets of the Company or (C) any plan or proposal
for the liquidation or dissolution of the Company.

    

    12.           Miscellaneous.

    

    (a)           Assignment.  The
Employee acknowledges and agrees that the rights and obligations of the Company
under this Agreement may be assigned by the Company to any affiliates or
successors in interest, including, but not limited to a prospective assignment
of this Agreement by the Company to AWT or its successor, in connection with the
Merger Transaction.      The Employee further
acknowledges and agrees that this Agreement is personal to the Employee and that
the Employee may not assign any rights or obligations hereunder.

    

    (b)           Withholding.  All
payments required to be made by the Company to the Employee under this Agreement
shall be subject to withholding taxes, social security and other payroll
deductions in accordance with the Company’s policies applicable to employees at
the Employee’s level.

    

    (c)           Entire
Agreement.  This Agreement sets forth the entire agreement
between the parties and supersedes any prior communications, agreements and
understandings, whether written or oral.

    

    (d)           Seal and Governing
Law.  This Agreement shall take effect as an instrument under
seal and shall be governed by, and construed in accordance with, the laws of the
State of Massachusetts, without regard to the conflicts of law principles
thereof.

    

    (e)           Amendments.  Any
attempted modification of this Agreement will not be effective unless signed by
a specifically authorized officer of the Company and the Employee.

    

    (f)           Waiver of
Breach.  The parties agree that a breach of any provision of
this Agreement may only be waived on behalf of the Employee by the Employee in
writing or, on behalf of the Company, in writing signed by a specifically
authorized officer of the Company.  The waiver by the Employee or the
Company of a breach of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach.

    

    (g)           Severability.  If
any provision of this Agreement should, for any reason, be held invalid or
unenforceable in any respect by a court of competent jurisdiction, then the
remainder of this Agreement, and the application of such provision in
circumstances other than those as to which it is so declared invalid or
unenforceable, shall not be affected thereby, and each such provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by
law.

    

    (h)           Notices.  Any
notices, requests, demands and other communications provided for by this
Agreement shall be in writing and shall be effective when delivered by private
messenger, private overnight mail service, or facsimile as follows (or to such
other address as either party shall designate by notice in writing to the other
in accordance herewith):

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    If to the
Company:               NEXX
Systems, LLC

    90 Industrial Way

    Wilmington, MA 01887

    Attention: Richard S. Post,
President

    

    With a copy
to:                    Mintz,
Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

    One Financial Center

    Boston, MA 02110

    Attention: Neil H. Aronson,
Esq.

    

    If to
Employee:                     Mr.
Arthur Keigler

    20 Pine Plain Road

    Wellesley, MA 02481

    

    With a copy
to:                    Semmes,
Bowen & Semmes, P.C.

    250 West Pratt Street

    Baltimore, MD 21201

    Attention: Cleaveland D. Miller,
Esq.

    

    (i)           Survival.  The
Employee and the Company agree that certain provisions of this Agreement shall
survive the expiration or termination of this Agreement and the termination of
the Employee’s employment with the Company.  Such provisions shall be
limited to those within this Agreement which, by their express and implied
terms, obligate either party to perform beyond the termination of the Employee’s
employment or termination of this Agreement.

    

    (j)           Disclosure and
Confidentiality.  The Employee agrees that the Company may
provide, in its discretion, a copy of the covenants contained in this Agreement
to any business or enterprise which the Company may directly or indirectly own,
manage, operate, finance, join, control or in which the Company participates in
the ownership, management, operation, financing or control, or with which the
Company may be connected or may become connected as an officer, director,
Employee, partner, principal, agent, representative, consultant or
otherwise.  The Employee also agrees that the Company may disclose a
copy of this Agreement if legally- required to do so, and in connection with a
partnering transaction, financing, or public offering.  The Employee
further agrees not to disclose the existence or terms of this Agreement to any
person other than the Employee’s immediate family and legal, financial or
accounting consultants and to the Board of Directors and stockholders of AWT
prior to the Effective Time (as defined in the Merger Agreement).

    

    (k)           Reassignment.  The
Employee acknowledges and agrees that should the Employee transfer between or
among any affiliates of the Company, wherever situated, or otherwise become
employed by any Company affiliate, or be promoted or reassigned to functions
other than the Employee’s present functions, all terms of this Agreement shall
continue to apply with full force.  This subsection 12(k) shall in no
way limit the Employee’s rights under subsection 10(c).

    

    (l)           Rights of Other
Individuals.  This Agreement confers rights solely on the
Employee and the Company.  This Agreement is not a benefit plan and
confers no rights on any individual or entity other than the
undersigned.

    

    (m)         Headings.  The
parties acknowledge that the headings in this Agreement are for convenience of
reference only and shall not control or affect the meaning or construction of
this Agreement.

    

    (n)         Counterparts.  This
Agreement may be signed in counterparts, each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same
instrument.  This Agreement shall become effective when each party
hereto shall have received counterparts hereof signed by the other party
hereto.

    

    [THE
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

     

     

     

     

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the
day and
year set forth below.

     

     

     

    
      
        	EMPLOYEE	 	 	NEXX
      SYSTEMS, LLC	 
	 	 	 	 	 
	 	 	 	 	 
	
                By:
      /s/ Arthur Keigler

              	 	 	
                By:
      /s/ Richard S. Post

              	 
	
                            
      Arthur Keigler

              	 	 	
                Name: 
      Richard S. Post

              	 
	
                 

              	 	 	
                Title: 
      President

              	 
	 	 	 	 	 
	Dated:
      May10, 2002	 	 	Dated:
      May 13, 2002	 

      

    

     

    
 

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    Promissory Note
($100,000)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    List of Employee’s
Inventions

    

    

    

    

    
 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
        12

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