Document:

EXHIBIT 10.26

Compensatory Arrangements with Executive Officers

Base Salary

The current annual base salaries of each of the executive officers of
PLC Systems Inc. (the “Company”) are as follows:

	
  Mark R. Tauscher, President,
  Chief Executive Officer and Director

  	
   

  	
  $

  	
  298,314

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  James G.
  Thomasch, Senior Vice President of Finance and Administration, Chief
  Financial Officer and Treasurer

  	
   

  	
  $

  	
  187,285

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dr. Robert I.
  Rudko, Chief Scientific Officer

  	
   

  	
  $

  	
  206,206

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Vincent C.
  Puglisi, Managing Director, International

  	
   

  	
  $

  	
  155,324

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Kenneth J. Luppi, Vice
  President of Operations

  	
   

  	
  $

  	
  153,486

  	
   

  

 

Cash
Bonus Compensation

The Compensation
Committee of the Company’s Board of Directors has not yet approved the bonus
arrangements for its executive officers for 2007.

Other Compensation

Mr. Tauscher and Mr. Thomasch each currently receive an annual car
allowance of $12,000.  Mr. Luppi, Mr.
Puglisi and Dr. Rudko each currently receive an annual car allowance of $6,000.

The Compensation Committee may also, from time to time, award each of
the executive officers compensation in the form of stock options granted under
the Company’s 2005 Stock Incentive Plan.EXHIBIT 10.27

Compensatory Arrangements with Non-Employee Directors

Each non-employee director (other than the chairman
of the board) of PLC Systems Inc. (the “Company”) receives $12,000 per year and
the chairman of the board receives $24,000 per year, paid in quarterly
installments. In addition, non-employee directors (other than the chairman of
the board) who serve as chairman of a committee, or who serve on more than one
committee, receive an additional $500 per quarter. The Company reimburses its
directors for reasonable out-of-pocket expenses incurred in attending meetings
of the board of directors and committees of the board of directors.

The Company also grants stock options to its
non-employee directors. Generally, on the date of their initial election to the
board of directors, new non-employee directors receive an initial grant of an
option to purchase 30,000 shares of the Company’s common stock that vests in
installments over three years. Once the initial grant has fully vested,
non-employee directors (other than the chairman of the board) receive an annual
grant of an option to purchase 15,000 shares of the Company’s common stock that
generally vests in four equal quarterly installments. The chairman of the board
receives an annual grant of an option to purchase 30,000 shares of the Company’s
common stock that generally vests in four equal quarterly installments. The
annual grants are generally made on the date of the Company’s annual meeting of
shareholders.  All such options have an
exercise price equal to the fair market value of the Company’s common stock on
the date of grant.EXHIBIT
10.28

Severance Arrangements with Certain Executive Officers

Pursuant to resolutions adopted by the Board of Directors of PLC
Systems Inc. (the “Company”) on December 19, 2001, Kenneth J. Luppi, the
Company’s Vice President of Operations, and Vincent C. Puglisi, the Company’s
Managing Director, International, are entitled to receive payments equal to 26
weeks of base salary in the event that they are terminated within one year of
the date of a change in control of the Company.

Mark R. Tauscher, the Company’s President and Chief Executive Officer,
James G. Thomasch, the Company’s Senior Vice President of Finance and
Administration, Chief Financial Officer and Treasurer, and Dr. Robert I. Rudko,
the Company’s Chief Scientist, are separately entitled to receive severance
payments pursuant to the terms of their respective employment agreements with
the Company.Exhibit 10.44
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EXECUTIVE
EMPLOYMENT AGREEMENT

AGREEMENT by and between Kaiser Group Holdings, Inc.,
a Delaware corporation, and Douglas W. McMinn (the “Executive”), effective as
of December 4th,
2006, the Effective Date (as hereafter defined).

W I T N E S S E T
H

WHEREAS, in recognition of Executive’s significant
contribution to the creation of shareholder value and leadership during his
tenure as President and Chief Executive Officer, the Company wishes to obtain
his commitment to serve as President and Chief Executive Officer of the Company
until December 31, 2009; and

WHEREAS, the Company has agreed to provide Executive
the compensation and benefits described in this Agreement as an incentive for
Executive to remain in the employ of the Company so that the Company may receive
his continued dedication and service and to ensure that he will not provide
services for a competing business in accordance with the terms hereof; and

WHEREAS, Executive has agreed to serve the Company
pursuant to the terms and conditions hereinafter set forth.

NOW, THEREFORE, for good and valuable consideration,
the receipt of which is hereby acknowledged, the Company and Executive hereby
agree as follows:

1.             DEFINITIONS.

As used in this Agreement, the following terms shall
have the respective meanings set forth below:

(a) “Cause” means
Executive’s (i) willful neglect or gross negligence in the performance of
Executive’s duties, (ii) indictment for or conviction of a felony, (iii) gross
misconduct resulting in material harm to the Company or (iv) breach of any of
the provisions in Section 6, 7, 8, or 10 of this Agreement. Notwithstanding the
foregoing, Executive shall not be deemed to have been terminated for Cause for
purposes of this Agreement unless and until there shall have been delivered to
him a copy of a resolution, duly adopted by a majority vote of the Board of
Directors of the Company (the “Board”) at a meeting of the Board called and
held (after Reasonable Notice to Executive and an opportunity for Executive and
his counsel to be heard before the Board) for the purpose of considering
whether Executive has committed any acts or failures to act described in
clauses (i), (ii), (iii), or (iv) above. 
The Company must notify Executive of an event constituting Cause within
90 days following the Board’s knowledge of its existence or such event shall
not constitute Cause under this Agreement. 
For the purposes of this Section 1(a), “Reasonable Notice” shall be a
written notice given to Executive a minimum of 30 days and a maximum of 60 days
before the aforementioned meeting of

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the Board is to be held.

(b) “Change in Control”
means the first to occur of any of the following events:

(1) Persons who, as of the Effective Date constitute
the Board (the “Incumbent Directors”) cease for any reason, including, without
limitation, as a result of a tender offer, proxy contest, merger or similar
transaction, to constitute at least a majority thereof, provided that any
person becoming a director of the Company subsequent to the Effective Date
shall be considered an Incumbent Director if such person’s election or
nomination for election was approved by a vote of at least three-quarters of
the Incumbent Directors; but provided further, that any such person whose
initial assumption of office is in connection with an actual or threatened
election contest relating to the election of members of the Board or other
actual or threatened solicitation of proxies or consents by or on behalf of a “person”
(as that term is used in Sections 13 and 14(d)(2) of the Exchange Act) other
than the Board, including by reason of agreement intended to avoid or settle
any such actual or threatened contest or solicitation, shall not be considered
an Incumbent Director;

(2) The shareholders of the Company approve any
consolidation or merger of the Company, other than a merger of the Company in
which the holders of all combined classes of stock of the Company immediately
prior to the merger hold more than 50% of all combined classes of stock of the
surviving corporation immediately after the merger; or

(3) Substantially all of the assets of the Company are
sold or otherwise transferred to parties that are not within a “controlled
group of corporations” (as defined in Section 1563 of the Internal Revenue Code
of 1986, as amended (the “Code”)) in which the Company is a member.

(c) “Company” means
Kaiser Group Holdings, a Delaware corporation, and, the successor to, or
transferee of all or substantially all of the assets of, the Company.

(d) “Date of Termination”
means (1) the effective date on which Executive’s employment by the Company
terminates as specified in a Notice of Termination by the Company or Executive,
as the case may be, or (2) if Executive’s employment by the Company terminates
by reason of death, the date of death of Executive. Notwithstanding the
previous sentence, (i) if Executive’s employment is terminated for Disability
(as defined in Section 3(d)), then such Date of Termination shall be no earlier
than 30 days following the date on which a Notice of Termination is received,
and (ii) if Executive’s employment is terminated by the Company other than for
Cause or by Executive for Good Reason, then such Date of Termination shall be
no earlier than 30 days following the date on which a Notice of Termination is
received.

(e) “Effective Date”
means December 4th,
2006.

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(f) “Good Reason” means,
without Executive’s express written consent, the occurrence of any of the
following events:

(1) the failure of the Company to obtain the
assumption agreement from any successor as contemplated in Section 12; or

(2) the relocation of Executive’s principal place of
employment to a location more than 75 miles from Executive’s principal place of
employment immediately prior to the Effective Date or the Company’s requiring
Executive to be based anywhere other than such principal place of employment
(or permitted relocation thereof) except for required travel on the Company’s
business to an extent substantially consistent with Executive’s business travel
obligations immediately prior to the Effective Date; or

(3) the reduction of Executive’s base salary below the
amount set in 2(b).

Notwithstanding the foregoing, an action that is
remedied by the Company within ten business days after receipt of notice
thereof given by Executive shall not constitute Good Reason.

(g) “Notice of
Termination” means the written notice as described in Section 13(b).

2.             EMPLOYMENT
PERIOD.

(a) POSITION. Executive
agrees to continue to serve the Company from the Effective Date until December
31, 2009 or, if earlier, the Date of Termination, in the same capacity and
manner as in the six months prior to the Effective Date on the terms described
in this Agreement.

(b) ANNUAL SALARY AND
BONUS.  Executive will receive a base
annual salary of $245,000, effective December 4th, 2006. 
In 2006, Executive will receive a performance bonus of $225,000, in
recognition of his hard work in 2006 and his loyalty to the Company throughout
the bankruptcy process.  For the years
2007 through 2009, Executive will be eligible to receive an annual performance
bonus.  The amount of this bonus shall be
determined yearly by the Board Compensation Committee.

(c) BENEFITS.  Company will pay for Executive’s health care
coverage until his 64th birthday in accordance with his existing
health plan.  Until the Date of
Termination, Company will provide for life insurance equal to one year’s base
salary, and for short and long term disability coverage.  Provided, Executive shall be entitled to no
benefits under this Section 2(c) if his employment is terminated by the Company
for Cause, pursuant to Section 3(e), or if Executive terminates his employment
without Good Reason, pursuant to Section 3(h). 
Until Date of Termination, Company will also provide Executive with
benefits according to its existing 401(k) plan.

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(d) STOCK OWNERSHIP PLAN.
Company agrees to implement an incentive stock ownership plan for the benefit
of executives and members of the Board during the year 2007.  The Board will develop this plan with the
advice and consent of counsel to ensure compliance with all applicable IRS and
SEC requirements.

3.             TERMINATION
OF EMPLOYMENT.

Executive’s employment hereunder may be terminated
under the following circumstances:

(a) NORMAL RETIREMENT.
Executive may retire at any time after December 31, 2009.

(b) EARLY RETIREMENT.
Executive may retire at any time before December 31, 2009, provided that he (1)
obtains the consent of the Board, (2) provides a viable successor nomination
for Board consideration, and (3) provides advance notice of at least 90 days of
his intention to retire. Notwithstanding the foregoing, the Board, in its sole
discretion, may waive the requirement of (2) and/or (3).

(c) DEATH. Executive’s
employment with the Company shall terminate upon his death.

(d) DISABILITY. If, as a
result of Executive’s incapacity due to physical or mental illness, Executive
shall have been absent from his duties for the Company on a full-time basis for
180 calendar days in the aggregate in any 12-month period, the Company may
terminate Executive’s employment with the Company for Disability. Any question
as to the existence of any physical or mental illness referred to above on
which the Company and Executive cannot agree shall be determined by a qualified
independent physician selected by the Company and reasonably acceptable to
Executive. The determination of such a physician made in writing to the Company
and to Executive shall be final and conclusive for purposes of this Agreement.

(e) TERMINATION BY
COMPANY FOR CAUSE. Subject to the provisions of Section 1(a) hereof and upon a
Notice of Termination to Executive, the Company may terminate Executive’s
employment with the Company for Cause.

(f) TERMINATION BY
COMPANY WITHOUT CAUSE. Upon a Notice of Termination to Executive, the Company
may terminate Executive’s employment with the Company without Cause.

(g) TERMINATION BY
EXECUTIVE FOR GOOD REASON. Upon a Notice of Termination to the Company,
Executive may terminate his employment with the Company for Good Reason.

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(h) TERMINATION BY
EXECUTIVE WITHOUT GOOD REASON. Upon a Notice of Termination to the Company,
Executive may terminate his employment with the Company without Good Reason.

4.             COMPENSATION
UPON TERMINATION.

(a) TERMINATION
GENERALLY. If Executive’s employment with the Company is terminated for any
reason, the Company shall pay or provide to Executive (or to his authorized
representatives or estate) any earned but unpaid base salary, incentive
compensation earned but not yet paid, unpaid expense reimbursements, accrued
but unused vacation and any vested benefits that Executive may have under any
employee benefit plan of the Company, including without limitation, executive
compensation, insurance and retirement plans or arrangements (the “Accrued
Benefits”).

(b) TERMINATION BY THE
COMPANY WITHOUT CAUSE OR UPON EXECUTIVE’S DISABILITY, OR BY EXECUTIVE UPON
EXECUTIVE’S NORMAL OR EARLY RETIREMENT. In the event of a termination of
Executive’s employment by the Company without Cause or upon Executive’s
Disability, or by Executive upon Executive’s normal or early retirement pursuant
to Section 3(a) or (b), the Company shall pay to Executive all Accrued Benefits and a severance pay of
the higher of the following two amounts, either: (a) eighteen months of
Executive’s base salary, or (b) the base salary for the following number of months:
thirty, minus one-half of the number of months worked before the Date of
Termination. For example, if Executive worked for six months after the
Effective Date before being terminated without cause, his severance pay would
be 30 - 6/2 = 27 months of base salary. 
However, if Executive worked for forty months after the Effective Date
before being terminated without cause, he would receive eighteen months of
severance pay, because 30 - 40/2 = 10, and 18 is greater than 10.
Severance pay shall be paid in one lump sum, not later than 30 days after the
Date of Termination.

(c) TERMINATION BY
EXECUTIVE FOR GOOD REASON.  If, following
a Change in Control, the Executive’s employment with the Company is terminated
by the Executive for Good Reason, the Company shall pay to Executive all Accrued Benefits and a severance pay of
the higher of the following two amounts, either: (a) eighteen months of
Executive’s base salary, or (b) the base salary for the following number of
months: thirty, minus one-half of the number of months worked before the Date
of Termination. For example, if Executive worked for six months after the
Effective Date before terminating his employment for Good Reason, his severance
pay would be 30 - 6/2 = 27 months of base salary. However, if Executive
worked for forty months after the Effective Date before terminating his
employment for Good Reason, he would receive eighteen months of severance pay,
because 30 - 40/2 = 10, and 18 is greater than 10.  Severance pay shall be paid in one lump sum,
not later than 30 days after the Date of Termination.

(d) DEATH. If Executive’s
employment is terminated by reason of his death, the Company shall pay
Executive’s estate the Accrued Benefits. 
Also, the Company will provide and pay for health coverage for Executive’s
spouse in accordance with her 

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existing health plan for not less than the next 24
months.

(e) TERMINATION BY
COMPANY WITH CAUSE OR BY EXECUTIVE WITHOUT GOOD REASON. If Executive’s
employment is terminated by the Company with Cause under Section 3(e) or by
Executive without Good Reason under Section 3(h), the Company shall have no
further obligation to Executive other than the payment or provision of the
Accrued Benefits.

(f) COMPLIANCE WITH
SECTION 409A.  The Company and the Executive
intend that this Agreement and all distributions made and benefits provided
hereunder, and the terms of the governing documents supporting such
distributions and benefits, shall comply with Section 409A of the Code and
applicable Treasury Regulations and other guidance promulgated thereunder (“Section
409A”).  Notwithstanding anything herein
to the contrary, the Executive shall not be entitled to receive any
distribution or benefit hereunder or under any other agreement with or plan or
program maintained by the Company (collectively, the “Other Arrangements”)
prior to the earliest date on which distributions or benefits of the type in
question may be made to “specified employees” pursuant to Section 409A without
incurring a penalty tax under Section 409A (the “Specified Employee Restriction”),
provided, however, for the sake of clarification and without limiting the
intent of the foregoing, it is the intention of the parties that the Executive
will receive all benefits and distributions under this Agreement and the Other
Arrangements without any delay or deferral if the provision of such benefit or
distribution would not be subject to the Specified Employee Restriction.  In order more effectively to ensure compliance
with Section 409A and consistent with the intention of the parties with respect
to the benefits and compensation to be provided to the Executive hereunder and
under the Other Arrangements, the Company and the Executive shall consult with
one another in good faith and shall (i) agree upon the timing of any
distribution to be made pursuant to, and the provision of any benefits or
rights granted by this Agreement and the Other Arrangements, and (ii) agree
upon the terms, language and form of any amendment to any agreement between the
Company and the Executive and any election by the Executive required or
desirable to comply with Section 409A, and the Company shall not have any
liability for violation of the requirements set forth in the immediately
preceding sentence with respect to any agreement made pursuant to (i) or (ii)
above or for any actions, distributions, or provision of benefits granted
thereunder.

5.             WITHHOLDING
TAXES.

The Company may withhold
from all payments due to Executive (or his beneficiary or estate) hereunder all
taxes that, by applicable federal, state, local or other law, the Company is
required to withhold.

6.             CONFIDENTIAL
INFORMATION.

Executive agrees that he
shall not, directly or indirectly, use, make available, sell, disclose or
otherwise communicate to any person, other than in the course of Executive’s
assigned duties and for the benefit of the Company, either during the period of
Executive’s employment or at any time thereafter, any nonpublic, proprietary or

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confidential information, knowledge or data relating
to the Company, any of its subsidiaries, affiliated companies or businesses,
which shall have been obtained by Executive during Executive’s employment by
the Company. The foregoing shall not apply to information that (i) was known to
the public prior to its disclosure to Executive; (ii) becomes known to the
public subsequent to disclosure to Executive through no wrongful act of
Executive or any representative of Executive; or (iii) Executive is required to
disclose by applicable law, regulation or legal process (provided that
Executive provides the Company with prior notice of the contemplated disclosure
and reasonably cooperates with the Company at its expense in seeking a
protective order or other appropriate protection of such information).
Notwithstanding clauses (i) and (ii) of the preceding sentence, Executive’s
obligation to maintain such disclosed information in confidence shall not
terminate where only portions of the information are in the public domain.

7.             NON-SOLICITATION
AGREEMENT.

During Executive’s
employment with the Company and continuing for the period for which
compensation or benefits are payable under Section 2 or Section 4, Executive
agrees that he will not, directly or indirectly, individually or on behalf of
any other person, firm, corporation or other entity, knowingly solicit, attempt
to solicit, aid, induce or otherwise counsel, advise, ask, or encourage (a) any
managerial level employee of the Company or any of its subsidiaries or
affiliates to leave such employment in order to accept employment with or
render services to or with any other person, firm, corporation or other entity
unaffiliated with the Company or knowingly take any action to materially assist
or aid any other person, firm, corporation or other entity in identifying or hiring
any such employee or (b) any customer of the Company or any of its subsidiaries
or affiliates to purchase goods or services then sold by the Company or any of
its subsidiaries or affiliates from another person, firm, corporation or other
entity or assist or aid any other persons or entity in identifying or
soliciting any such customer.

8.             NONCOMPETITION
AGREEMENT.

Executive acknowledges
that he performs services of a unique nature for the Company that are
irreplaceable, and that his performance of such services for a competing
business will result in irreparable harm to the Company. Accordingly, during
Executive’s employment hereunder, and continuing for the period for which
compensation or benefits are payable under Section 2 or Section 4, Executive agrees
that Executive will not, directly or indirectly, own, manage, operate, control,
be employed by (whether as an employee, consultant, independent contractor or
otherwise, and whether or not for compensation) or render services to any
person, firm, corporation or other entity, in whatever form, engaged in any
business of the same type as that in which the Company or any of its
subsidiaries or affiliates is engaged on the Date of Termination or in which
they have proposed, on or prior to such date, to be engaged on or after such
date and with respect to which Executive has been involved in the conduct or
planning to any extent (other than de minimis) at any time during the 12-month
period ending with the Date of Termination, in any locale of any country in which
the Company conducts 

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business. This Section 8 shall not prevent Executive
from owning not more than 20% of the total shares of all classes of stock
outstanding of any publicly held entity engaged in such business, nor will it
restrict Executive from rendering services to charitable organizations, as such
term is defined in Section 501(c) of the Code, nor will it restrict Executive from
rendering services to the international trading/consulting firm, Global Trade
& Invest, Inc., in which he is a part owner.

9.             ACKNOWLEDGEMENTS
RESPECTING RESTRICTIVE COVENANTS

(a) NO ADEQUATE REMEDY AT
LAW. Executive acknowledges that it is impossible to measure in money the
damages that will accrue to the Company in the event that Executive breaches
any of the restrictive covenants in Section 6, 7, 8, or 10 and that any such
damages, in any event, would be inadequate and insufficient. Therefore, if
Executive breaches any restrictive covenant in Section 6, 7, 8, or 10, the
Company and any of its subsidiaries or affiliates shall be entitled to an
injunction restraining Executive from violating such restrictive covenant. If
the Company or any of its subsidiaries or affiliates shall institute any action
or proceeding to enforce a restrictive covenant, Executive hereby waives, and
agrees not to assert in any such action or proceeding, the claim or defense
that the Company or any of its subsidiaries or affiliates have an adequate
remedy at law.

(b) INJUNCTIVE RELIEF NOT
EXCLUSIVE REMEDY. In the event of a breach of any of the restrictive covenants
in Section 6, 7, 8, or 10, Executive agrees that, in addition to any injunctive
relief as described in Section 9(a), the Company shall be entitled to any other
appropriate legal or equitable remedy.

(c) THIS SECTION
REASONABLE, FAIR AND EQUITABLE. Executive agrees that this Section 9 is
reasonable, fair and equitable in light of his duties and responsibilities
under this Agreement and the benefits to be provided to him under this
Agreement and that it is necessary to protect the legitimate business interests
of the Company and that Executive has had independent legal advice in so
concluding.

(d) CONSTRUCTION. If any
of the restrictions contained in Sections 6, 7 or 8 hereof are deemed by a
court of competent jurisdiction to be unenforceable by reason of their extent,
duration or geographical scope or otherwise, Executive and Company agree that
the court shall revise such extent, duration, geographical scope or other
provision but only to the extent required in order to render such restrictions
enforceable, and enforce any such restriction in its revised form for all
purposes in the manner contemplated hereby.

(e) CHANGE IN CONTROL.
The parties hereto agree that the restrictive covenants contained in Sections
7, 8 and 10 of this Agreement shall be null and void and shall not be
enforceable against Executive following any termination of Executive’s
employment on or after a Change in Control of the Company. Notwithstanding
anything to the contrary contained herein, in the event that Executive’s
employment with the Company is terminated following a Change in Control, each
continuing benefit shall be 

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provided to him at a level no less favorable that
provided to him immediately prior to the Change in Control.

10.           NONDISPARAGEMENT.

Each of Executive (and
his representatives) and the Company (for purposes hereof, the Company shall
mean only the executive officers and directors thereof and not any other
employees) agrees not to make any public statements that disparage the other
party or, in the case of the Company, its respective affiliates, employees,
officers, directors, products or services until after December 31, 2011. The
provisions of this Section 10 shall survive the termination of this Agreement.
Notwithstanding the foregoing, statements made in the course of sworn testimony
in administrative, judicial or arbitral proceedings (including, without
limitation, depositions in connection with such proceedings) shall not be
subject to this Section 10.  As used
herein, “disparage” shall mean any oral or written communication of false,
misleading or derogatory information or any oral or written communication of
information with negligent disregard of its truth or falsity.

11.           INDEMNIFICATION.

To the fullest extent
permitted by law, the Company shall indemnify Executive (including the
advancement of expenses) for any judgments, fines, amounts paid in settlement
and reasonable expenses, including attorneys’ fees, incurred by Executive in
connection with the defense of any lawsuit or other claim to which he is made a
party by reason of being an officer, director employee or consultant of the
Company or any of its subsidiaries or affiliates. For at least three years
following Executive’s ceasing to be employed by the Company, the Company shall
make every reasonable effort to maintain customary director and officer
liability insurance covering Executive for acts and omissions prior to
Executive’s ceasing to be employed by the Company. The provisions of this
Section 11 shall survive the termination of this Agreement.

12.           SUCCESSORS;
BINDING AGREEMENT.

(a) The provisions of
this Agreement shall be binding upon the surviving or resulting corporation in
any merger, consolidation, recapitalization or similar corporate transaction or
the person or entity to which all or substantially all of the Company’s assets
are transferred.

(b) In addition to any
obligations imposed by law upon any successor to the Company, the Company shall
require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place.

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(c) This Agreement shall
inure to the benefit of and be enforceable by Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees. If Executive shall die while any amounts would be
payable to Executive hereunder had Executive continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to such person or persons appointed in writing by
Executive to receive such amounts or, if no person is so appointed, to
Executive’s estate.

13.           NOTICE.

(a) For purposes of this
Agreement, all notices and other communications required or permitted hereunder
shall be in writing and shall be deemed to have been duly given when delivered
or five days after deposit in the United States mail, certified and return
receipt requested, postage prepaid, to such address as either party may have
furnished to the other in writing in accordance herewith, except that notices
of change of address shall be effective only upon receipt.

(b) A written Notice of
Termination by the Company or Executive, as the case may be, to the other,
shall (i) indicate the specific termination provision in this Agreement relied
upon, (ii) to the extent applicable, set forth in reasonable detail the facts
and circumstances claimed to provide a basis for termination of Executive’s
employment under the provision so indicated and (iii) specify the Date of
Termination. Except as provided in Section 1(a) hereof the failure by Executive
or the Company to set forth in such notice any fact or circumstance which
contributes to a showing of Good Reason or Cause shall not waive any right of
Executive or the Company hereunder or preclude Executive or the Company from
asserting such fact or circumstance in enforcing Executive’s or the Company’s
rights hereunder.

14.           FULL
SETTLEMENT.

The Company’s obligation
to make any payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action which the Company may have
against Executive or others. In no event shall Executive be obligated to seek
other employment or take other action by way of mitigation of the amounts
payable to Executive under any of the provisions of this Agreement, and such
amounts shall not be reduced whether or not Executive obtains other employment.

15.           GOVERNING
LAW; VALIDITY.

The validity,
interpretation, and enforcement of this Agreement shall be governed by the laws
of the Commonwealth of Virginia. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which other provisions shall remain in
full force and effect.

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16.           ARBITRATION;
LEGAL FEES.

Any dispute or
controversy under this Agreement shall be settled exclusively by arbitration in
Falls Church, Virginia, before a panel of three arbitrators, in accordance with
the rules of the American Arbitration Association then in effect. Judgment may
be entered on the arbitration award in any court having jurisdiction, provided,
however, that this Section 16 shall not apply to any request for injunctive
relief pursuant to Section 9 hereof. The defeated party with respect to the
preponderance of the amount in dispute shall bear all costs and expenses
arising in connection with any arbitration proceeding pursuant to this Section
16 (including all reasonable legal fees incurred by Executive in connection
with such arbitration).  Promptly
following the execution of this Agreement, the Company shall reimburse
Executive for all reasonable legal fees and expenses incurred by Executive in
negotiating and entering into this Agreement up to, but not exceeding, $5,000.

17.           WAIVER
AND RELEASE.

No amounts shall be
payable and no benefits shall be provided hereunder following the Termination
Date unless and until the Executive shall have executed and delivered a waiver
and release of claims against the Company in customary form.

18.           AMENDMENT.

No provision of this
Agreement may be amended, waived or discharged except by the mutual written
agreement of the parties.

19.           COUNTERPARTS.

This Agreement may be
executed in counterparts, each of which shall be deemed to be an original and
all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement this December 4th, 2006.

THIS AGREEMENT CONTAINS A BINDING ARBITRATION
PROVISION THAT MAY BE ENFORCED BY THE PARTIES.

 McMinn Agreement
 Page12
  

 

	
  EXECUTIVE

  	
        KAISER GROUP
  HOLDINGS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Douglas W.
  McMinn

  	
  By:

  	
  /s/ Dr. Nicholas Burakow

  
	
   

  	
  Douglas W.
  McMinn

  	
   

  	
  Dr. Nicholas Burakow, CFO

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Jon Bennett

  
	
   

  	
   

  	
   

  	
  Jon Bennett, Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Frank E. Williams, Jr.

  
	
   

  	
   

  	
   

  	
  Frank E.
  Williams, Jr., Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Mark Tennenbaum

  
	
   

  	
   

  	
   

  	
  Mark Tennenbaum, Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]