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                                                                   EXHIBIT 10.27

                SUMMARY OF 2007 DIRECTOR COMPENSATION ARRANGEMENT

The non-employee directors of the Company and the Bank will each be paid, in
aggregate, an annual retainer of $2,000. Non-employee directors of the Company
and the Bank will also receive a fee of $250 for each meeting of the Board of
Directors or a committee of the Board of Directors that they attend. The
Chairman or Vice Chairman of the Board of the Bank and the Company is to receive
an additional $150 for each meeting of the Board of Directors that he chairs.
All committee chairmen will receive an additional $50 for each committee meeting
that they chair. When meetings are held on the same day of the Boards of
Directors of the Company and the Bank, or committees of the Company and the Bank
performing similar functions, directors usually receive only one meeting and
chairperson fee for the two Board or committee meetings.exv10w11xcy

 

EXHIBIT 10.11(c)

AMENDMENT NO. 2

TO

CHANGE IN CONTROL AGREEMENT

     This AMENDMENT NO. 2 TO CHANGE IN CONTROL AGREEMENT (the “Amendment”) is entered into
as of December 31, 2006, by and between                     , an individual (the “Executive”),
and Superconductor Technologies Inc., a Delaware corporation (the “Company”), with
reference to the following facts:

	 	A.	 	The Company and Executive entered into an Change in Control Agreement dated
                    (the “Agreement”). The Company and Executive modified that agreement
                    with Amendment No. 1 (“Amendment 1”).
	 
	 	B.	 	The parties wish to revise the terms and conditions of the Agreement to comply
with the deferred compensation rules per Internal Revenue Service Regulation 409(a) and
to modify related sections of the Agreement.

NOW, THEREFORE, based on the above premises and for good and valuable consideration, the
parties agree as follows:

	 	1.	 	Severance Payments. All severance payment due under Section 2(a) of
the Agreement will be paid to Executive on the 183rd day after Executive’s termination
within 24 months of a Change in Control as defined in Section 1(a) of the Agreement.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by
its duly authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 

	 	EXECUTIVE:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	COMPANY:	 	 
	 
	 	 	 	 
	 

	 	 

By: John D. Lockton
	 	 
	 

	 	As Its: Chairman of the Board	 	 

A-1exv10w18xcy

 

EXHIBIT 10.18(c)

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

 

 

This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of
December 31, 2006, by and between Jeffrey A. Quiram, an individual (the “Executive”), and
Superconductor Technologies Inc., a Delaware corporation (the “Company”), with reference to
the following facts:

	 	A.	 	The Company and Executive entered into an Employment Agreement dated February
14, 2005 (the “Agreement”).
	 
	 	B.	 	The parties with to revise the terms and conditions of the Agreement to
comply with the deferred compensation rules per Internal Revenue Code (“IRC”) Section
409A and to modify related sections of the Agreement.

NOW, THEREFORE, based on the above premises and for good and valuable consideration, the
parties agreed as follows:

	 	1.	 	Severance Payments. If the individual is a “specified employee” as
defined in IRC Section 409A(a)(2)(B)(i) at the time of separation from service, all
severance and bonus payments due under Section 6.1 of the Agreement will be paid to
Executive on the 183rd day after the date of termination of Executive and
all insurance coverage under Section 6.1.3 of the Agreement shall commence on the
183rd day after the date of termination of Executive. Section 6.1.4 is
modified to read that all outstanding equity grants of any form will immediately vest
upon the termination of the Executive’s employment.
	 
	 	2.	 	Change in Control. If the individual is a “specified employee” as
defined in IRC Section 409A(a)(2)(B)(i) at the time of separation from service, all
payments due Executive under Section 7.1 of the Agreement will be paid to Executive on
the 183rd day after a Change in Control occurs as defined in Section 10.3
of the Agreement and all insurance coverage under Section 7.1.3 of the Agreement shall
commence on the 183rd day after the date of termination of Executive.
Section 7.1.4 is modified to read that all outstanding equity grants of any form will
immediately vest upon a Change in Control as defined in Section 10.3 of the Agreement.
Section 7.1.5 of the Agreement is removed as are all references to Section 7.1.5 in
the entirety of Section 7.1. Section 7.1.6 is modified to remove the paragraph
beginning “Notwithstanding Section 2...” in its entirety.
	 
	 	3.	 	409A Compliance. A new section 22 is added to the Agreement to read
as follows:
	 
	 	 	 	“Section 409A. The parties acknowledge and agree that, to the extent
applicable, this Agreement shall be interpreted in accordance with Section 409A of
the Code and the treasury regulations and other interpretive
guidance issued thereunder, including without limitations any such

 

 

	 	 	 	regulations or
other guidance that may be issued. Notwithstanding any provision of this Agreement
to the contrary, in the event that the Company determines that any amounts payable
hereunder will be immediately taxable to the Participant under Section 409A of the
Code and related treasury regulations, the Company may (a) adopt such amendments to
this Agreement and appropriate policies and procedures, including amendments and
policies with retroactive effect, that the Company determines necessary or
appropriate to preserve the intended tax treatment of the benefits provided by this
Agreement and/or (b) take such other actions as the Company determines necessary or
appropriate to comply with the requirements of Section 409A of the Code and
treasury regulations, including such treasury regulations and other interpretive
materials as may be issued in the future.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by
its duly authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 

	 	EXECUTIVE	 	 
	 
	 	 	 	 
	 

	 	/s/Jeffrey A. Quiram	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	COMPANY	 	 
	 
	 	 	 	 
	 

	 	
/s/John D. Lockton
	 	 
	 

	 	 
By: John D. Lockton	 	 
	 

	 	As Its: Chairman of the Boardexv10w20xby

 

EXHIBIT 10.20(b)

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

 

 

This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of
December 31, 2006, by and between Terry White, an individual (the “Executive”), and
Superconductor Technologies Inc., a Delaware corporation (the “Company”), with reference to
the following facts:

	 	A.	 	The Company and Executive entered into an Employment Agreement dated April
11, 2005 (the “Agreement”).
	 
	 	B.	 	The parties with to revise the terms and conditions of the Agreement to
comply with the deferred compensation rules per Internal Revenue Code (“IRC”) Section
409A and to modify related sections of the Agreement.

NOW, THEREFORE, based on the above premises and for good and valuable consideration, the
parties agreed as follows:

	 	1.	 	Involuntary Termination Payments. If the individual is a “specified
employee” as defined in IRC Section 409A(a)(2)(B)(i) at the time of separation from
service, all severance and bonus payments due under Section 6.1.1 of the Agreement
will be paid to Executive on the 183rd day after the date of termination of
Executive and all insurance coverage under Section 6.1.2 of the Agreement shall
commence on the 183rd day after the date of termination of Executive.
	 
	 	2.	 	Change in Control. If the individual is a “specified employee” as
defined in IRC Section 409A(a)(2)(B)(i) at the time of separation from service, all
payments due Executive under Section 7.1 of the Agreement will be paid to Executive on
the 183rd day after Executive’s termination per Section 7.1.3 of the
Agreement.
	 
	 	3.	 	409A Compliance. A new section 22 is added to the Agreement to read
as follows:
	 
	 	 	 	“Section 409A. The parties acknowledge and agree that, to the extent
applicable, this Agreement shall be interpreted in accordance with Section 409A of
the Code and the treasury regulations and other interpretive guidance issued
thereunder, including without limitations any such regulations or other guidance
that may be issued. Notwithstanding any provision of this Agreement to the
contrary, in the event that the Company determines that any amounts payable
hereunder will be immediately taxable to the Participant under Section 409A of the
Code and related treasury regulations, the Company may (a) adopt such amendments to
this Agreement and appropriate policies and procedures, including amendments and
policies with retroactive effect, that the Company determines necessary or
appropriate to preserve the intended tax treatment of the benefits provided by this
Agreement and/or (b) take such other

 

 

	 	 	 	actions as the Company determines necessary or appropriate to comply with the
requirements of Section 409A of the Code and treasury regulations, including such
treasury regulations and other interpretive materials as may be issued in the
future.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by
its duly authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 

	 	EXECUTIVE	 	 
	 
	 	 	 	 
	 

	 	/s/Terry White	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	COMPANY	 	 
	 
	 	 	 	 
	 

	 	 

/s/John D. Lockton
	 	 
	 

	 	 
By: John D. Lockton	 	 
	 

	 	As Its: Chairman of the Board

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