Document:

Exhibit 10.34

Thermo Electron
81 Wyman Street
Post Office Box 9046                                              (781) 622-1000
Waltham, MA 02454-9046                                       Fax: (781) 622-1207

Brian Holt
President and CEO
Thermo Ecotek Corporation

May 18, 2000

Dear Brian:

As we have discussed, Thermo Electron Corporation (the Company) has announced a
reorganization of the company in which certain of the company's assets will be
sold. We recognize that your past contributions have been integral to the
success of the Company and that your continued involvement will be necessary in
order to facilitate these sales and to assure a smooth transition for potential
buyers.

In order to provide an incentive for you to remain with the company through the
completion of these sales, we will pay you a Transaction Bonus.

Transaction Bonus
-----------------

You will be paid the amounts indicated below for the sale or disposition of the
following businesses. If the actual sale price of any business exceeds its
target price, .5% of the difference between the actual sale price and the target
price will be added to your transaction bonus for that business. If the actual
sale price on any business is below its target price, you will be paid a portion
of the Transaction Bonus. The portion will equal the sale price divided by the
target price times the listed Transaction Bonus rounded up to the nearest
hundred. (EXAMPLE: If FES sold for $40,000,000 your bonus would be $44,500
($40,000,000 divided by $45,000,000 times $50,000 equals $44,444. Rounded up to
the next hundred equals $44,500)

These Transaction Bonuses will be paid to you in a lump sum payment on or before
ninety (90) days following the closing date of each sale unless you and I
mutually agree to an alternate payment date.

<TABLE>
<CAPTION>
<S>                                       <C>                     <C>

                                                          Transaction Bonus
Businesses to be sold               Target Price           At Target Price
---------------------               ------------          -----------------

FES                                 $ 45,000,000              $ 50,000
NuTemp Inc.                         $ 16,000,000              $ 18,000
Tecogen                             $  6,000,000              $  7,000
Optronics                           $  6,000,000              $  7,000
Peek                                $ 85,000,000              $ 93,000
Retec Consulting                    $ 45,000,000              $ 49,000
Nutech                              $ 17,000,000              $ 19,000
TPST Soil                           $ 15,000,000              $ 16,000
Fluids                              $ 13,000,000              $ 14,000
Killam                              $ 45,000,000              $ 49,000
Lancaster Labs                      $ 60,000,000              $ 66,000
Eurotech                            $  5,000,000              $  6,000
Normandeau                          $  5,000,000              $  6,000
Green Sunrise                       $  5,000,000              $  6,000
Metal Treaters                      $ 12,000,000              $ 13,000
Trilogy                             $ 30,000,000              $ 31,000
                                    ------------              --------

Total                               $410,000,000              $450,000

</TABLE>

Terms of Agreement
------------------

1. The Company agrees to continue to employ you on the same terms and with the
same benefits you currently enjoy as an employee-at-will. In return, you agree
to remain in such employ and to continue to devote your full time and best
efforts to the Company as an employee-at-will until the closing date of the sale
of these businesses.

<PAGE>

2. You understand that the Company retains the right to terminate your services
without cause (as defined below) and you retain the right to terminate your
services from the Company at any time. If your employment is terminated by the
company without cause prior to the closing of these business sales, you will be
paid your full and unreduced Transaction Bonus payments at the time of the
sales. If you terminate your employment prior to the final closing date, or the
Company terminates your employment for "cause" (as defined below), you will
forfeit any and all payments that you would be entitled to for unsold businesses
covered under this agreement.

3. For the purposes of this agreement, "cause" shall be determined by the
Company in the exercise of good faith and reasonable judgment and will include
any breach of this agreement by you or any act by you of gross personal
misconduct, insubordination, misappropriation of funds, fraud, dishonesty, gross
neglect of or failure to perform the duties reasonably required of you pursuant
to this agreement or any conduct which is in willful violation of any applicable
law or regulation pertaining to the business.

4. For purposes of this agreement we agree that the businesses will be
considered to be sold when any person or entity, other than a person or entity
affiliated with the Company, purchases at least fifty percent (50%) of the
assets or shares of the individual businesses, whether through a purchase of the
business or a purchase of the company of which the business is a part.

5. You understand that all payments made under this agreement are subject to
appropriate federal, state, city or other tax withholding requirements.

6. You acknowledge that this Transaction Bonus Agreement supersedes any prior
agreements or understandings oral or written between you and the Company
pertaining to any Transaction Bonus incentive payments being offered to
employees of businesses being sold in connection with the reorganization and
that this agreement constitutes the entire agreement between us with regard to
Transaction Bonuses.

On behalf of Thermo Electron, I thank you for your continued assistance and
support. If you have any questions regarding any of the terms of this Agreement,
please do not hesitate to contact me.

Once you have read and understood the terms of this Agreement, please indicate
your agreement by signing below on the line above your typewritten name, make a
copy for your records and return the original document to me.

                                            Very truly yours,

                                            /s/ Anne Pol
                                            -----------------------
                                            Sr. Vice President
                                            Thermo Electron

Accepted and agreed:

/s/ Brian D. Holt                          01/06/2000
-----------------------------              ------------
Brian Holt                           Date: June 1, 2000

<
                                       2
<PAGE>
>Exhibit 10.36

                           THERMO ELECTRON CORPORATION

                          EXECUTIVE SEVERANCE AGREEMENT

THIS  AGREEMENT  by  and  between  THERMO  ELECTRON   CORPORATION,   a  Delaware
corporation (the "Company"),  and Seth H. Hoogasian (the "Executive") is made as
of January 27, 2000 (the "Effective Date").

     WHEREAS,  the Company recognizes that the uncertainty  regarding the future
employment   prospects  for  key  personnel  may  result  in  the  departure  or
distraction   of  key  personnel  to  the  detriment  of  the  Company  and  its
stockholders;

     WHEREAS, the Board of Directors of the Company (the "Board") has determined
that appropriate  steps should be taken to reinforce and encourage the continued
employment  and  dedication of the Company's key personnel  without  distraction
from such uncertainty and related events and circumstances; and

     NOW, THEREFORE,  as an inducement for and in consideration of the Executive
remaining in its employ, the Company agrees that the Executive shall receive the
severance  benefits  set forth in this  Agreement  in the event the  Executive's
employment  with the Company is  terminated  under the  circumstances  described
below.

         1.       Key Definitions.
                  ---------------

     As used herein,  the following  terms shall have the  following  respective
meanings:

               1.1 "Change in Control" means an event or occurrence set forth in
any one or more of  subsections  (a)  through (d) below  (including  an event or
occurrence  that  constitutes a Change in Control under one of such  subsections
but is specifically exempted from another such subsection):

                    (a)  the  acquisition  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")) (a  "Person")  of  beneficial
ownership of any capital stock of the Company if, after such  acquisition,  such
Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the
Exchange  Act) 40% or more of either (i) the  then-outstanding  shares of common
stock of the  Company  (the  "Outstanding  Company  Common  Stock")  or (ii) the
combined voting power of the then-outstanding securities of the Company entitled
to vote generally in the election of directors (the "Outstanding  Company Voting
Securities");  provided,  however, that for purposes of this subsection (a), the
following  acquisitions  shall  not  constitute  a Change  in  Control:  (i) any
acquisition by the Company,  (ii) any  acquisition by any employee  benefit plan
(or related  trust)  sponsored or maintained  by the Company or any  corporation
controlled by the Company, or (iii) any acquisition by any corporation  pursuant
to a transaction  which  complies with clauses (i) and (ii) of subsection (c) of
this Section 1.1; or

<PAGE>

                    (b) such time as the Continuing Directors (as defined below)
do not  constitute  a majority  of the Board (or,  if  applicable,  the Board of
Directors of a successor corporation to the Company), where the term "Continuing
Director"  means at any date a member  of the  Board (i) who was a member of the
Board on the date of the  execution of this  Agreement or (ii) who was nominated
or elected  subsequent  to such date by at least a majority of the directors who
were  Continuing  Directors at the time of such  nomination or election or whose
election to the Board was  recommended or endorsed by at least a majority of the
directors  who  were  Continuing  Directors  at the time of such  nomination  or
election;  provided, however, that there shall be excluded from this clause (ii)
any  individual  whose initial  assumption of office  occurred as a result of an
actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened  solicitation of proxies or consents, by
or on behalf of a person other than the Board; or

                    (c)   the   consummation   of   a   merger,   consolidation,
reorganization,  recapitalization  or statutory  share  exchange  involving  the
Company or a sale or other disposition of all or substantially all of the assets
of the Company in one or a series of  transactions  (a "Business  Combination"),
unless,  immediately following such Business Combination,  each of the following
two conditions is satisfied: (i) all or substantially all of the individuals and
entities who were the beneficial owners of the Outstanding  Company Common Stock
and Outstanding  Company Voting  Securities  immediately  prior to such Business
Combination  beneficially  own,  directly  or  indirectly,  more than 60% of the
then-outstanding  shares of common  stock and the  combined  voting power of the
then-outstanding  securities  entitled  to vote  generally  in the  election  of
directors,  respectively,  of the  resulting  or acquiring  corporation  in such
Business  Combination (which shall include,  without  limitation,  a corporation
which as a result of such transaction  owns the Company or substantially  all of
the Company's assets either directly or through one or more subsidiaries)  (such
resulting  or  acquiring  corporation  is referred  to herein as the  "Acquiring
Corporation")  in  substantially   the  same  proportions  as  their  ownership,
immediately  prior to such  Business  Combination,  of the  Outstanding  Company
Common Stock and Outstanding Company Voting Securities,  respectively;  and (ii)
no Person (excluding the Acquiring  Corporation or any employee benefit plan (or
related  trust)  maintained  or  sponsored  by the  Company or by the  Acquiring
Corporation) beneficially owns, directly or indirectly,  40% or more of the then
outstanding  shares  of common  stock of the  Acquiring  Corporation,  or of the
combined  voting power of the  then-outstanding  securities of such  corporation
entitled to vote generally in the election of directors; or

                    (d)  approval  by  the  stockholders  of  the  Company  of a
complete liquidation or dissolution of the Company.

               1.2 "Cause" means the Executive's  willful  engagement in illegal
conduct or gross misconduct  which is materially and  demonstrably  injurious to
the  Company.  For purposes of this Section 1.2, no act or failure to act by the
Executive  shall be  considered  "willful"  unless it is done,  or omitted to be

<PAGE>

done, in bad faith and without  reasonable belief that the Executive's action or
omission was in the best interests of the Company.

     2. Term of Agreement. This Agreement, and all rights and obligations of the
parties  hereunder,  shall take effect upon the Effective  Date and shall expire
upon the first to occur of (a) the  expiration of the Term (as defined below) or
(b) the  fulfillment by the Company of all of its  obligations  under Sections 4
and 5.2 if the Executive's  employment with the Company  terminates prior to the
expiration  of the Term.  "Term"  shall  mean the  period  commencing  as of the
Effective Date and continuing in effect through December 31, 2002.

     3.  Not an  Employment  Contract.  The  Executive  acknowledges  that  this
Agreement  does not constitute a contract of employment or impose on the Company
any  obligation to retain the  Executive as an employee and that this  Agreement
does not prevent the Executive from terminating employment at any time.

     4.        Benefits to Executive.
               ---------------------

               4.1 Compensation.

                    (a) Termination Without Cause. If the Executive's employment
with the Company is  terminated  by the Company  (other than for Cause) then the
Executive shall be entitled to the following benefits:

                         (i) the Company  shall pay to the  Executive  in a lump
sum in cash within 30 days after the date of  termination  the  aggregate of the
following amounts:

                         (1) the sum of (A) two  times  the  Executive's  annual
     base salary as in effect immediately prior to the date of termination,  and
     (B)  the  amount  of  any  cash  compensation  previously  deferred  by the
     Executive  (together with any accrued interest or earnings thereon) and any
     accrued vacation pay, in each case to the extent not previously paid; and

                         (ii) for two years  after the date of  termination,  or
such  longer  period as may be provided  by the terms of the  appropriate  plan,
program,  practice or policy,  the Company shall continue to provide benefits to
the  Executive  and the  Executive's  family at least equal to those which would
have  been  provided  to  them  if  the  Executive's  employment  had  not  been
terminated,  in accordance  with the  applicable  benefit plans in effect on the
date of termination  or, if more favorable to the Executive and the  Executive's
family,  in effect  generally at any time  thereafter with respect to other peer
executives of the Company and its affiliated companies;  provided, however, that
if the Executive  becomes  reemployed  with another  employer and is eligible to
receive a particular type of benefits  (e.g.,  health  insurance  benefits) from
such  employer  on  terms  at  least  as  favorable  to the  Executive  and  the

<PAGE>

Executive's  family as those  being  provided by the  Company,  then the Company
shall no  longer  be  required  to  provide  those  particular  benefits  to the
Executive and the Executive's family;

                         (iii) to the extent not  previously  paid or  provided,
the Company  shall timely pay or provide to the  Executive  any other amounts or
benefits  required to be paid or provided or which the  Executive is eligible to
receive  following the  Executive's  termination  of employment  under any plan,
program,  policy,  practice,  contract  or  agreement  of the  Company  and  its
affiliated  companies  (such other  amounts and  benefits  shall be  hereinafter
referred to as the "Other Benefits"); and

                         (iv) for purposes of determining  eligibility  (but not
the time of commencement  of benefits) of the Executive for retiree  benefits to
which the  Executive is entitled,  the  Executive  shall be  considered  to have
remained employed by the Company until two years after the date of termination.

                    (b)  Termination  for Cause.  If the Company  terminates the
Executive's  employment  with the Company for Cause,  then the Company shall (i)
pay the  Executive,  in a lump  sum in cash  within  30 days  after  the date of
termination,  the sum of (A) the  Executive's  base  salary  through the date of
termination and (B) the amount of any cash compensation  previously  deferred by
the Executive,  in each case to the extent not  previously  paid and (ii) timely
pay or provide to the Executive the Other Benefits.

               4.2  Mitigation.  The Executive shall not be required to mitigate
the amount of any payment or benefits  provided for in this Section 4 by seeking
other  employment  or  otherwise.   Further,   except  as  provided  in  Section
4.1(a)(ii), the amount of any payment or benefits provided for in this Section 4
shall not be reduced by any compensation  earned by the Executive as a result of
employment by another employer,  by retirement  benefits,  by offset against any
amount claimed to be owed by the Executive to the Company or otherwise.

         5.       Disputes.
                  --------

               5.1  Settlement  of  Disputes;  Arbitration.  All  claims  by the
Executive for benefits under this Agreement  shall be directed to and determined
by the Board of Directors of the Company and shall be in writing.  Any denial by
the Board of  Directors of a claim for benefits  under this  Agreement  shall be
delivered to the  Executive in writing and shall set forth the specific  reasons
for the denial and the specific  provisions of this  Agreement  relied upon. The
Board of Directors shall afford a reasonable  opportunity to the Executive for a
review of the  decision  denying a claim.  Any  further  dispute or  controversy
arising under or in connection with this Agreement shall be settled  exclusively
by arbitration  in Boston,  Massachusetts,  in accordance  with the rules of the
American Arbitration  Association then in effect. Judgment may be entered on the
arbitrator's award in any court having jurisdiction.

               5.2 Expenses.  The Company agrees to pay as incurred, to the full
extent permitted by law, all legal, accounting and other fees and expenses which

<PAGE>

the  Executive  may  reasonably  incur  as a  result  of any  claim  or  contest
(regardless  of the outcome  thereof) by the  Company,  the  Executive or others
regarding the validity or  enforceability  of, or liability under, any provision
of this Agreement or any guarantee of performance thereof (including as a result
of any contest by the Executive  regarding the amount of any payment or benefits
pursuant to this  Agreement),  plus in each case interest on any delayed payment
at the  applicable  Federal rate  provided for in Section  7872(f)(2)(A)  of the
Internal Revenue Code.

         6.       Successors.
                  ----------

               6.1 Successor to 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 or assets of the Company  expressly to
assume and agree to perform  this  Agreement to the same extent that the Company
would be required to perform it if no such  succession had taken place.  As used
in this  Agreement,  "Company"  shall mean the Company as defined  above and any
successor  to its business or assets as  aforesaid  which  assumes and agrees to
perform this Agreement, by operation of law or otherwise.

               6.2 Successor to  Executive.  This  Agreement  shall inure to the
benefit  of  and  be   enforceable   by  the   Executive's   personal  or  legal
representatives,  executors,  administrators,  successors,  heirs, distributees,
devisees and legatees.  If the Executive should die while any amount would still
be payable to the Executive or the Executive's family hereunder if the Executive
had continued to live, all such amounts, unless otherwise provided herein, shall
be paid in  accordance  with  the  terms  of this  Agreement  to the  executors,
personal representatives or administrators of the Executive's estate.

     7.  Notice.  All  notices,  instructions  and  other  communications  given
hereunder  or in  connection  herewith  shall be in  writing.  Any such  notice,
instruction or communication shall be sent either (i) by registered or certified
mail, return receipt requested, postage prepaid, or (ii) prepaid via a reputable
nationwide  overnight courier service, in each case addressed to the Company, at
81 Wyman Street, Waltham,  Massachusetts and to the Executive at the Executive's
principal  residence as currently reflected on the Company's records (or to such
other address as either the Company or the  Executive may have  furnished to the
other in  writing in  accordance  herewith).  Any such  notice,  instruction  or
communication shall be deemed to have been delivered five business days after it
is sent by registered  or certified  mail,  return  receipt  requested,  postage
prepaid,  or one  business  day  after  it is sent  via a  reputable  nationwide
overnight  courier  service.  Either party may give any notice,  instruction  or
other  communication  hereunder  using  any  other  means,  but no such  notice,
instruction or other  communication  shall be deemed to have been duly delivered
unless and until it actually is received by the party for whom it is intended.

<PAGE>

         8.       Miscellaneous.
                  -------------

               8.1  Severability.  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 shall  remain in full force and
effect.

               8.2 Injunctive  Relief.  The Company and the Executive agree that
any breach of this  Agreement  by the  Company is likely to cause the  Executive
substantial  and  irrevocable  damage  and  therefore,  in the event of any such
breach, in addition to such other remedies which may be available, the Executive
shall have the right to specific performance and injunctive relief.

               8.3 Governing Law. The validity, interpretation, construction and
performance  of this  Agreement  shall be governed by the  internal  laws of the
Commonwealth of Massachusetts, without regard to conflicts of law principles.

               8.4 Waivers. No waiver by the Executive at any time of any
breach of, or compliance  with,  any provision of this Agreement to be performed
by the Company  shall be deemed a waiver of that or any other  provision  at any
subsequent time.

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

               8.6 Tax Withholding. Any payments provided for hereunder shall be
paid net of any applicable  tax  withholding  required  under federal,  state or
local law.

               8.7  Entire  Agreement.  This  Agreement  sets  forth the  entire
agreement  of the  parties  hereto in respect of the  subject  matter  contained
herein and supersedes all prior agreements,  promises, covenants,  arrangements,
communications,  representations or warranties,  whether oral or written, by any
officer,  employee  or  representative  of any party  hereto in  respect  of the
subject matter contained  herein,  and any prior agreement of the parties hereto
in respect of the  subject  matter  contained  herein is hereby  terminated  and
cancelled,  except  as  provided  in  the  next  sentence.  Notwithstanding  the
foregoing  sentence,  if the Executive is party to an agreement with the Company
providing  for the  payment of benefits in the event  employment  is  terminated
after a Change in Control (a "Change  in  Control  Agreement"),  such  Change in
Control  Agreement  shall not be terminated  or cancelled by this  Agreement and
such  Change  in  Control  Agreement  shall  survive  and  remain  in  effect in
accordance  with its own terms.  In the event the  Executive  actually  receives
benefits under the Change in Control Agreement,  the Executive shall not also be
entitled to receive benefits under this Agreement.

               8.8 Amendments. This Agreement may be amended or modified only by
a written instrument executed by both the Company and the Executive.

<PAGE>

     IN WITNESS  WHEREOF,  the parties hereto have executed this Agreement as of
the day and year first set forth above.

                                THERMO ELECTRON CORPORATION

                                By:     /s/ Anne Pol
                                        --------------------------------
                                        Anne Pol
                                       Senior Vice President, Human Resources

                                EXECUTIVE:

                                        /s/ Seth H. Hoogasian
                                        -----------------------------------
                                        Seth H. Hoogasian

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