Document:

Exhibit 10.1

                                LICENSE AGREEMENT

     This License Agreement ("Agreement") is made and entered into this 24th of
November, 2007 (the "Effective Date"), by and between ACCELR8 TECHNOLOGY
CORPORATION, a Colorado corporation, having its principal office at 7000 North
Broadway, Bldg 3-307, Denver, CO 80221 (hereinafter "Accelr8") and SCHOTT Jenaer
Glas GmbH, having its principal office at Otto-Schott-Strasse 13, 07745 Jena,
Germany (hereinafter "Schott"). Accelr8 and Schott may be referred to herein
individually as a "Party" and collectively as the "Parties."

                                   WITNESSETH
                                   ----------

     WHEREAS, Accelr8 has developed proprietary surface chemistry and coating
technology; and

     WHEREAS, Schott desires to obtain a license to utilize such technology in a
standard product that it will manufacture, market and distribute to certain
markets, and Accelr8 so agrees, subject to the terms and conditions of this
Agreement.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
covenants and agreements contained herein, the Parties, intending to be legally
bound, do hereby agree as follows:

                             ARTICLE 1. DEFINITIONS

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

1.01     "Accelr8 Intellectual Property" means the Accelr8 Know-How and Accelr8
         Patents.

1.02     "Accelr8 Know-How" means all tangible and intangible (a) techniques,
         technology, practices, trade secrets, inventions (whether patentable or
         not), methods, processes (including manufacturing and quality control
         processes), knowledge, know-how, skill, experience, test data and
         results (including pharmacological, toxicological and clinical test
         data and results), analytical and quality control data, results or
         descriptions, software and algorithms, and (b) compounds, compositions
         of matter, complexes and physical, biological or chemical material,
         which exist at Accelr8 and is not publicly known as of the Effective
         Date and are related to Accelr8's proprietary surface chemistry and
         coating technology.

1.03     "Accelr8 Patents" means (a) those Patents and Patent Applications
         listed in Appendix A, and (b) any Patents owned or licensed (with a
         right of sublicense) by Accelr8 that cover the Process Improvements.

1.04     "Affiliate" means every corporation, or entity, which, directly or
         indirectly, or through one or more intermediaries, controls, is
         controlled by, or is under common control with a Party, as well as
         every officer, director, agent and representative of any such
         corporation or entity. For the purposes of the foregoing definition,

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         the word "control" (including, with correlative meaning, the terms
         "controlled by" or "under common control with") means the actual power,
         either directly or indirectly through one or more intermediaries, to
         direct or cause the direction of the management and policies of such
         entity, whether by the ownership of at least fifty percent (50%) of the
         voting stock of such entity, or by contract or otherwise.

1.05     "Calendar Quarter" means any period of three (3) consecutive months
         ending on March 31, June 30, September 30 and December 31.

1.06     "Confidential Information" has the meaning set forth in ss.7.01.

1.07     "Effective Date" means the date specified in the first paragraph of
         this Agreement.

1.08     "Hydrogel Coatings" means coatings comprising hydrophilic polymers used
         to immobilize molecules and other materials for the purpose of
         microarraying.

1.09     "Improvements" means inventions, discoveries, works of authorship,
         trade secrets, know-how or developments, whether or not patentable,
         that are made, conceived, reduced to practice or otherwise generated by
         Accelr8 during the Term, which are improvements, modifications or other
         developments to the Licensed Product (including, without limitation,
         the manufacturing processes for such products and/or the OptiChem
         coating technology), or the OptiChem(R) coating technology.

1.10     "Inventions" means all Improvements, inventions, discoveries,
         processes, works of authorship, trade secrets and other know-how,
         developments or the like, whether or not patentable, that are made,
         conceived, reduced to practice or otherwise generated solely by a Party
         or jointly by the Parties as a result of this Agreement (including,
         without limitation, Inventions related to the Licensed Product or its
         manufacture).

1.11     "Licensed Product" means the product described in Appendix B.

1.12     "Net Sales" means the actual gross selling price of Licensed Products
         by Schott or its Affiliates, and their respective agents, contractors
         or distributors, whether invoiced or not, less (a) discounts allowed in
         amounts customary in the trade to the extent actually granted, (b)
         sales/tariff duties and/or taxes directly invoiced and paid, (c)
         outbound transportation prepaid, and (c) amounts credited on returns.
         Net Sales shall also include the fair market value of any non-cash
         consideration received for the sale, lease or transfer of Licensed
         Products.

1.13     "Patents" means:

          (a)  United States and foreign patents and/or patent applications
               and/or provisional patent applications;

          (b)  United States and foreign patents issued from the applications
               described in (a) above and from divisionals and continuations of
               these applications;

          (c)  U.S. and foreign continuation-in-part applications, and the
               resulting patents of any of the U.S. and foreign applications
               described in (a) or (b) above or this paragraph (c); and

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          (d)  any reissues of United States and foreign patents described in
               (a), (b) or (c) above.

1.14     "Process Improvements" means any Improvements by Accelr8 to the
         processes for the manufacture of the Licensed Product.

1.15     "Stock Product" means a product that has a single, standard set of
         specifications (including materials and dimensions), publicly available
         at all times to all Schott customers.

1.16     "Term" means the term of this Agreement, as determined in accordance
         with Article 10.

1.17     "Third Party" means any entity or person other than Accelr8 or Schott.

ARTICLE 2.                                                  GRANT OF RIGHTS

2.01     Accelr8 hereby grants, and Schott accepts, during the Term and subject
         to the terms and conditions of this Agreement, a worldwide,
         non-transferable (except as provided in ss.12.01), non-exclusive,
         royalty-bearing license under the Accelr8 Intellectual Property to
         make, use, sell, offer to sell, import and export the Licensed Product.
         The foregoing license also permits Schott to combine the Licensed
         Product with Schott's MPX technology, provided that Schott's license to
         make, use, sell, offer to sell, import and export the combined product
         is in accordance with the license granted in the prior sentence.

         Accelr8 shall provide Schott with all information necessary to produce
and market Licensed Products, including descriptions or specifications of
machines, components and materials used for the production.

2.02     The license and rights granted by Accelr8 in ss.2.01 are subject to the
         following:

          (a)  Schott may not sublicense the license and rights granted to its
               hereunder to any Third Party, including, without limitation, any
               Affiliate;

          (b)  the Licensed Product must be a Stock Product;

          (c)  the Licensed Product must be appropriately labeled for use and
               sale, with restrictions in the instructions for use prohibiting
               use for medical purposes.

          (d)  Schott acknowledges that the license granted to it hereunder does
               not include any Improvements developed during the Term, except
               for the Process Improvements.

2.03     Accelr8 hereby reserves all rights in and to the Accelr8 Intellectual
         Property not expressly granted to Schott hereunder.

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                   ARTICLE 3. DILIGENCE AND COMMERCIALIZATION

3.01     As between the Parties, Schott shall control and be responsible for, at
         its sole expense and in its sole discretion, the manufacturing and
         commercialization of the Licensed Products.

3.02     The Parties may provide each other with all freedom to operate opinions
         and other similar information related to the manufacture, use, sale or
         import of the Licensed Product as contemplated hereunder. Said freedom
         to operate opinions and other similar information shall be subject to
         the confidentiality terms described in ss. 7.01.

3.03     Accelr8will provide to Schott, on a time and materials basis as
         reasonably requested by Schott, technical support and consulting
         services related to the Licensed Product subject to mutual agreement on
         applicable terms and conditions.

3.04     Schott will provide to Accelr8 within forty (40) days after the end of
         each Calendar Quarter a written report about all sales of the Licensed
         Product during such calendar Quarter. In addition, Schott will use
         reasonable efforts to notify Accelr8 of any misuse of the Licensed
         Product (i.e., any use not in accordance with the applicable
         instructions for use for the Licensed Product) by any Third Party, and
         will stop all sales of Licensed Products as promptly as is practical to
         such Third Party.

                     ARTICLE 4. PAYMENTS AND PAYMENT TERMS

4.01     Initial Fee. On the Effective Date, Schott shall pay to Accelr8 a
         non-refundable fee of One Hundred Thousand Dollars ($100,000). Fifty
         Thousand Dollars ($50,000) of such fee shall be credited against future
         royalties payable pursuant to ss.4.02 ("Prepaid Royalties").

4.02     Royalty Payments. Subject to the other terms and conditions of this
         Agreement:

          (a)  Schott shall pay Accelr8 a royalty payment equal to six percent
               (6%) of Net Sales of Licensed Products; provided, however, that
               if the total Net Sales during the Term equal or exceed Two
               Million Five Hundred Thousand Dollars ($2,500,000), then the
               total royalty payable by Schott under this paragraph (a) for the
               Term shall be a flat fee of One Hundred Fifty Thousand Dollars
               ($150,000).

          (b)  No royalties shall be payable by Schott to Accelr8 under this
               ss.4.02 until the Prepaid Royalties are exhausted.

4.03 All royalty amounts payable to Accelr8 under this Agreement shall be paid
as provided in ss.4.02 above, with all royalties on Net Sales of Licensed
Products payable (including the balance of any flat fee royalty payment) within
forty (40) days after the end of the Calendar Quarter in which the Net Sales
giving rise to the royalty payment obligation were made. Each payment of royalty
payments shall be accompanied by the report described in ss.5.01.

4.04 Except as set forth below, all payments hereunder shall be payable in U.S.
dollars. When conversion of payments from any foreign currency is required, such
conversion shall be at an exchange rate equal to the rate of exchange for the
currency of the country from which the royalties are payable as published by The

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Wall Street Journal, East Coast Edition, on the final day of the Calendar
Quarter for which a payment is due. In any country where conversion of the local
currency is blocked and such currency cannot be removed from the country, at the
election of Accelr8 royalties accrued in that country may be paid to Accelr8 in
that country in local currency by deposit in a local bank designated by Accelr8.
All payments other than those specified in the preceding sentence shall be
payable to Accelr8 by wire transfer, in immediately available funds, to a bank
account as may be designated by Accelr8 in writing from time to time.

4.05 If laws or regulations require that taxes be withheld from royalty payments
due to Accelr8 hereunder, Schott shall have the right to (a) deduct such taxes
from the royalty payment due to Accelr8 hereunder, (b) timely pay the taxes to
the proper taxing authority, and (c) send evidence of the obligation together
with proof of tax payment (including certification of receipt by the taxing
authority) to Accelr8 within fifty (50) days following such tax payment.
Notwithstanding the foregoing, Schott shall cooperate with Accelr8 and shall
execute and deliver such documents and take such other actions as Accelr8 may
reasonably request, for the purpose of (x) obtaining an exemption from the tax
withholding requirements of any foreign country, (y) obtaining a refund of any
taxes actually withheld by Schott and paid to a foreign country pursuant to tax
withholding requirements, and (z) otherwise seeking to lawfully mitigate the
amount of taxes required to be withheld from any payments due to Accelr8
hereunder pursuant to applicable foreign tax law.

4.06 Any amounts not paid by Schott when due under this Agreement shall be
subject to interest from and including the date payment is due through and
including the date upon which Accelr8 has actually received payment at a rate
equal to the sum of two percent (2%) plus the prime rate of interest quoted in
the Money Rates section of The Wall Street Journal, East Coast Edition,
calculated daily on the basis of a 365-day year, or similar reputable data
source, or, if lower, the highest rate permitted under applicable law. The
payment of such interest shall not limit Accelr8 from exercising any other
rights or remedies it may have as a consequence of the lateness of any payment.

4.07 On sales of Licensed Products by Schott that are made in other than
arm's-length transactions, the value of the Net Sales attributed under this
Article 4 to such a transaction shall be that which would have been received in
an arm's-length transaction, based on a like transaction at that time.

                     ARTICLE 5. REPORTS, RECORDS AND AUDITS

5.01     Schott shall, without request by Accelr8, render to Accelr8 written
         accounts for each Calendar Quarter of the Net Sales of Licensed
         Products made during such Calendar Quarter and shall pay to Accelr8 the
         royalties due on such Net Sales, if any, in accordance with this
         Article 5. The written report shall be in the form mutually agreed upon
         by the Parties, but will include the information required in ss.3.04.

5.02     Schott shall keep accurate records in sufficient detail to reflect its
         operations under this Agreement and to enable the royalties accrued and
         payable under this Agreement to be determined. Such records shall be

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         retained for at least three (3) years after the close of the period to
         which they pertain, or for such longer time as may be required to
         finally resolve any question or discrepancy raised by Accelr8.

5.03     Upon the request of Accelr8, with reasonable written notice, Schott
         shall permit an independent public accountant selected and paid by
         Accelr8, and bound to confidentiality, to have access during regular
         business hours to such records as may be necessary to verify the
         accuracy of royalty payments made or payable hereunder. Said accountant
         shall disclose any such information acquired by it to Accelr8 only to
         the extent that such information should properly have been contained in
         the royalty reports required under this Agreement. If an inspection
         shows an underreporting or underpayment in excess of five percent (5%)
         for any twelve (12) month period, then Schott shall reimburse Accelr8
         for the cost of the inspection and pay the amount of the underpayment
         including any interest as required by this Agreement.

      ARTICLE 6. INTELLECTUAL PROPERTY; PROSECUTION; COSTS AND ENFORCEMENT

6.01     Ownership of Inventions and  Information. Ownership of Inventions shall
         be determined in accordance with the following rules:

          (a)  Schott shall own any Inventions (including all intellectual
               property rights therein) that it solely makes or conceives
               ("Schott Inventions").

          (b)  Accelr8 shall own any Inventions (including all intellectual
               property rights therein) that it solely makes or conceives.

          (c)  For any Inventions (including all intellectual property rights
               therein) that the Parties jointly make or conceive ("Joint
               Inventions"), the Parties shall jointly own any Joint Inventions,
               subject to the restrictions in ss.6.01(e).

          (e)  For all Joint Inventions that are jointly owned by the Parties,
               each Party is free to utilize such Joint Invention without
               accounting or reporting to the other Party, except that neither
               Party will assign, license, sublicense, sell, distribute or
               otherwise transfer any such Joint Inventions to any competitor of
               the other Party.

6.02     Prosecution and Maintenance of Patents. Each Party shall control the
         preparation, filing, prosecution and maintenance (including without
         limitation conducting or participating in interferences or
         oppositions), at its own expense, of any and all Patents that it owns.
         The Parties shall jointly control the preparation, filing, prosecution
         and maintenance (including without limitation conducting or
         participating in interferences or oppositions), of any and all Patents
         that are jointly owned by the Parties ("Joint Patents"), and to equally
         share all outside legal fees and expenses associated therewith.
         However, if a Party desires not to file, prosecute, issue or maintain
         an application for a Joint Patent in any particular country or
         jurisdiction, such Party shall notify the other Party of its intention
         not to do so, and with such notice shall relinquish its interest in the
         same (i.e., shall have no further ownership interest in, license or
         right to use, or any costs associated therewith) in such particular
         country or jurisdiction, and the other Party shall have the right, but

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         not the obligation to file, prosecute, issue or maintain in its name
         such application or patent embodying a Joint Patent in such particular
         country or jurisdiction at its own expense.

6.03     Cooperation of the Parties. At the reasonable request of the
         responsible Party, the other Party agrees to reasonable efforts to
         cooperate in the preparation, filing, prosecution, maintenance and
         defense of any Patents under this Agreement and in the obtaining and
         maintenance of any patent extensions, supplementary protection
         certificates and the like with respect to any Patent claiming an
         Invention. Such cooperation includes, but is not limited to:

          (a)  executing all papers and instruments (including assignment
               documents), or requiring its employees or contractors, to execute
               such papers and instruments, so as to effectuate the ownership of
               inventions set forth in ss.6.01, and Patents claiming such
               inventions, and to enable the responsible Party to apply for and
               to prosecute patent applications in any country; and

          (b)  promptly informing the other Party of any matters coming to the
               first Party's attention that may affect the preparation, filing,
               prosecution or maintenance of any such patent applications.

6.04     Infringement by Third Parties. Each Party agrees to inform the other
         Party promptly in writing of any suspected infringement of the Accelr8
         Patents, the Licensed Product and/or the Patents resulting from any
         Inventions. The Party owning the applicable Patent shall have the sole
         right to institute suit against such Third Party, provided that the
         other Party shall provide all reasonable cooperation and assistance
         that may be requested by the first Party, at the first Party's expense,
         in any such suit, which cooperation may include joining in such suit.

                  ARTICLE 7. CONFIDENTIALITY AND PUBLICATIONS

7.01     In the performance of this Agreement, each Party may disclose directly
         or indirectly to the other party certain confidential information,
         orally or in writing or both, including, but not be limited to,
         marketing plans, cost or price data, customer or supplier information,
         technical information, patent applications, and patent prosecution
         documents regarding the Accelr8 Intellectual Property or the Licensed
         Product (collectively, "Confidential Information"). Except to the
         extent expressly authorized by this Agreement or otherwise agreed in
         writing by the disclosing Party, the Parties agree that, during the
         Term for at least five (5) years, the receiving Party shall keep
         confidential and shall not publish or otherwise disclose and shall not
         use for any purpose other than as expressly provided for in this
         Agreement any Confidential Information. A Party may use such
         Confidential Information only to the extent required to accomplish the
         purposes of this Agreement. Neither Party will use any Confidential
         Information of any other Party for any purpose or in any manner that
         would constitute a violation of any laws or regulations, including,
         without limitation, the export control laws of the United States.
         Neither Party may reproduce any Confidential Information of any other
         Party in any form except as required to accomplish the intent of this
         Agreement. Neither Party may disclose Confidential Information of any

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         other Party to any employee, agent, consultant, or sublicensee who does
         not have a reasonable need for such information for purposes of
         performance under this Agreement and who is not subject to binding
         obligations of confidentiality and limited use at least as restrictive
         as those of this Article 7. In particular, neither Party will disclose
         to a Third Party any legal opinions with regard to Accelr8's
         Intellectual Property without first obtaining a "Community of Interest"
         agreement from such Third Party that includes Accelr8 as named in the
         Community of Interest. Each Party will use at least the same standard
         of care as it uses to protect its own proprietary or confidential
         information of a similar nature to prevent unauthorized disclosures or
         uses of Confidential Information of the other Party, but in no event
         less than reasonable care. Each Party will promptly notify the
         disclosing Party upon discovery of any unauthorized use or disclosure
         of the Confidential Information of the other Party.

7.02     The obligations of confidentiality and non-use of Confidential
         Information set forth in ss.7.01 above shall not apply to any
         information that, as shown by competent proof:

          (a)  is now, or hereafter becomes, through no act or failure to act on
               the part of the receiving Party in breach hereof, generally known
               or available;

          (b)  is known by the receiving Party at the time of receiving such
               information, as shown by contemporaneous written records;

          (c)  is hereafter furnished to the receiving Party by a Third Party,
               as a matter of right and without restriction on disclosure;

          (d)  is independently developed by the receiving Party without use of
               or reference to Confidential Information of the other Party, as
               shown by independent, contemporaneous written records; or

          (e)  is the subject of a prior, express, written permission to
               disclose provided by the disclosing Party.

         The Parties agree that the material financial terms of this Agreement
         shall be considered Confidential Information of both Parties.
         Notwithstanding the foregoing, the Parties may disclose such terms to
         bona fide potential corporate partners, potential investors or merger
         or acquisition partners, and to financial underwriters and legal and
         financial advisors; provided that all such disclosures shall be made
         only to such parties under obligations of confidentiality and non-use
         and provided the other Party is informed to whom such disclosures will
         be made.

7.03     Each of the Parties may disclose Confidential Information belonging to
         the other Party to the extent such disclosure is reasonably necessary
         for:

          (a)  complying with applicable court orders or governmental
               regulations.

         Notwithstanding the foregoing, in the event that a Party is required to
         make a disclosure of any other Party's Confidential Information
         pursuant to ss.7.03 it will give reasonable advance notice to the other
         Party of such disclosure and use efforts to secure confidential
         treatment of such information at least as diligent as the other Party

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         would use to protect its own confidential information, but in no event
         less than reasonable efforts. In any event, each of the Parties agrees
         to take all reasonable action to avoid disclosure of Confidential
         Information hereunder. The Parties will consult with each other on the
         provisions of this Agreement to be redacted in any filings made by the
         parties with the United States Securities and Exchange Commission or as
         otherwise required by law.

7.04     Each Party shall have the right to review and comment on any material
         proposed for disclosure or publication by the other Party, such as by
         oral presentation, manuscript or abstract, which utilizes Confidential
         Information of the non-publishing Party. Before any such material is
         submitted for publication, the Party proposing publication shall
         deliver a complete copy to the non-publishing Party whose Confidential
         Information is utilized therein, at least thirty (30) days prior to
         submitting the material to a publisher or initiating any other
         disclosure. The non-publishing Party shall review any such material and
         give its comments to the Party proposing publication within thirty (30)
         days of the delivery of such material to the non-publishing Party. With
         respect to oral presentation materials and abstracts, the
         non-publishing Party shall make reasonable efforts to expedite review
         of such materials and abstracts, and shall return such items as soon as
         practicable to the Party proposing publication with appropriate
         comments, if any, but in no event later than thirty (30) days from the
         date of delivery to the non-publishing Party. The publishing Party
         shall comply with the non-publishing Party's requests to delete
         references to the non-publishing Party's Confidential Information in
         any such material and agrees to delay any submission for publication or
         other public disclosure for a period of up to an additional ninety (90)
         days for the purpose of preparing and filing appropriate patent
         applications.

              ARTICLE 8. REPRESENTATIONS, WARRANTIES AND COVENANTS

8.01     ACCELR8 IS LICENSING AND PROVIDING THE ACCELR8 INTELLLECTUAL PROPERTY
         ON AN "AS IS" BASIS, AND IT MAKES NO REPRESENTATIONS NOR EXTENDS ANY
         WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE
         ACCELR8 INTELLLECTUAL PROPERTY OR THE USE, SALE, IMPORT, EXPORT OR
         OTHER DISPOSITION BY SCHOTT, ITS AFFILIATES, SUBLICENSEE(S), OR THEIR
         VENDEES OR OTHER TRANSFEREES OF LICENSED PRODUCTS. THERE ARE NO EXPRESS
         OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
         PURPOSE, OR THAT THE USE, MANUFACTURE, SALE OR IMPORT OF LICENSED
         PRODUCTS WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK, SERVICE
         MARK, OR OTHER RIGHTS OF ANY THIRD PARTY. However Accelr8 has, as of
         the Effective Date, no knowledge of any such infringements.

8.02     Accelr8 and Schott each hereby represent and warrant to the other as
         follows:

          (a)  it is duly organized, validly existing and in good standing under
               the laws of its jurisdiction of incorporation or formation, and
               has full corporate or other power and authority and the legal
               right to (i) own and operate its property and assets, (ii) carry

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               on its business as it is now being conducted and as contemplated
               in this Agreement, and (iii) enter into this Agreement and to
               carry out the provisions hereof;

          (b)  it is duly authorized to execute and deliver this Agreement and
               to perform its obligations hereunder, and the person or persons
               executing this Agreement on its behalf has been duly authorized
               to do so by all requisite corporate or partnership action; and

          (c)  (i) this Agreement is legally binding upon it and enforceable in
               accordance with its terms, and (ii) the execution, delivery and
               performance of this Agreement by it does not conflict with any
               written agreement, instrument or understanding to which it is a
               party or by which it may be bound, or violate any material law or
               regulation of any court, governmental body or administrative or
               other agency having jurisdiction over it.

8.03     Nothing in this Agreement shall be construed as:

          (a)  A warranty or representation by Accelr8 to the validity or scope
               of any of the Accelr8 Patents;

          (b)  A warranty or representation that the Accelr8 Intellectual
               Property or anything made, used, sold, imported or otherwise
               disposed of under the licenses granted hereunder (including,
               without limitation, the Licensed Product) will or will not
               infringe patents, copyrights or other rights of Third Parties.
               However Accelr8 has, as of the Effective Date, no knowledge of
               any such infringements;

          (c)  An obligation to furnish any know-how or technology not agreed to
               in this Agreement, to bring or prosecute actions or suits against
               Third Parties for infringement or to provide any services other
               than those specified in this Agreement.

8.04     Schott covenants that it shall:

          (a)  cause Licensed Products sold under this Agreement to be marked
               with the notice of the patent numbers or patent pending, as may
               be legally required.

          (b)  comply with all laws and regulations of the United States and any
               other country as appropriate concerning or controlling the import
               or export of Licensed Products.

          (c)  comply with all laws and regulations of the country as concerned
               with regard to the manufacture, marketing, promotion or
               distribution of Licensed Products.

          (d)  appropriately label Licensed Products for use and sale,
               including, without limitation, restrictions in the instructions
               for use prohibiting use for medical purposes.

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8.05     Except in connection with liability for breach of Article 7 or 8, no
         Party shall be entitled to recover from the other Party any special,
         incidental, indirect, consequential or punitive damages in connection
         with this Agreement or any license granted hereunder; provided,
         however, that this ss.8.05 shall not be construed to limit any Party's
         indemnification obligations under Article 9 or any remedies available
         at law for a violation of a Party's intellectual property or
         proprietary rights.

                           ARTICLE 9. INDEMNIFICATION

9.01     Schott Indemnification. Schott shall indemnify and hold Accelr8 and its
         Affiliates, and their respective officers, directors, employees,
         consultants and agents (each, an "Accelr8 Indemnitee") harmless from
         and against all liability, damages, losses, costs and expenses
         including reasonable attorneys fees and expenses (collectively,
         "Losses"), due to a claim asserted by a Third Party for death, personal
         injury, illness, property damage, noncompliance with applicable laws
         and any other Third Party claim, proceeding, demand, (each, a "Third
         Party Claim") due to:

          (a)  any use of the Accelr8 Intellectual Property by Schott in a
               manner not expressly permitted under the licenses granted to
               Schott hereunder;

          (b)  any representation or warranty made by Schott in Article 8 of
               this Agreement; or

          (c)  the gross negligence or willful misconduct of Schott; or

          (d)  any claims that the manufacture, use, sale or import of the
               Licensed Products solely done by or through Schott infringes or
               violates any patent or other rights of Oxford Gene Technology.
               However, no indemnification applies by Schott for Accelr8 and its
               Affiliates, and their respective officers, directors, employees,
               consultants and agents (each, an "Accelr8 Indemnitee") for any
               actions arising from Accelr8 and its Affiliates own activities in
               connection with the Licensed Products.

9.02     Control of Defense. Accelr8 shall give prompt written notice of the
         Third Party Claim to Schott and Schott shall defend against such Third
         Party Claim with the reasonable cooperation of the Accelr8 Indemnitee;
         provided that (i) Accelr8 shall have the exclusive right to control the
         defense or settlement of any Third Party Claim involving the validity,
         enforceability or scope of any Accelr8 Intellectual Property or Patents
         owned by Accelr8 notwithstanding anything to the contrary herein, and
         (ii) subject to item (i) above, the Accelr8 Indemnitee will not settle
         any such Third Party Claim without the prior written consent of Schott,
         which consent shall not be unreasonably withheld, conditioned or
         delayed. Each Accelr8 Indemnitee shall have the right to be present in
         person or through counsel at substantive legal proceedings relating to
         the applicable Third Party Claim.

                ARTICLE 10. DURATION, TERMINATION AND CONVERSION

10.01    Term.  This Agreement shall become effective as of the Effective Date
         and shall have a three (3) year term ("Term"), unless earlier
         terminated pursuant to ss.10.02.

                                       11

<PAGE>

10.02    Termination. This Agreement shall terminate if either Party gives
         written notice to the other Party of the other Party's material breach
         of the terms of this Agreement, and the other Party fails to cure such
         breach within thirty (30) days of its receipt of such notice.

10.03    Effect of Termination.

          (a)  Upon termination of this Agreement, the licenses and rights
               granted to Schott hereunder shall immediately terminate, provided
               that Schott shall have the right to continue to sell (but not
               manufacture) the Licensed Product in its inventory as provided in
               ss.10.03(b).

          (b)  Schott may dispose of all previously made Licensed Products
               within one hundred and twenty (120) days after the effective date
               of such termination, provided, however, that the sale of such
               Licensed Products shall remain subject to the terms of this
               Agreement including, but not limited to, the payment of royalties
               at the rate and at the time provided herein and the rendering of
               royalty reports thereon.

          (c)  Within thirty (30) days following the expiration or termination
               of this Agreement, each Party shall deliver to the other Party
               any and all copies of any documents or tangible items that
               contain any Confidential Information of the other Party in its
               possession or under its control.

10.04    Accrued Rights and Obligations; Survival. Expiration or termination of
         this Agreement shall not affect any accrued rights or obligations of
         any Party. The provisions of Articles 5-9 and 11-12, and ss.ss.2.03,
         4.03-4.06, and 10.03-10.06 of this Agreement shall survive expiration
         or termination of this Agreement for any reason (subject to any
         subsequent dates of termination referred to in such individual Articles
         and Sections).

10.05    Exercise of Right to Terminate. If any Party elects to terminate this
         Agreement pursuant to the terms of this Article 10, such Party will not
         be required to compensate the other Party for any damage or loss that
         such other Party may suffer as a result of the terminating Party
         exercise of its rights under this Article 10.

10.06    Damages; Relief. Subject to ss.10.05 above, termination of this
         Agreement shall not preclude either Party from claiming any other
         damages, compensation or relief that it may be entitled to under the
         terms of this Agreement or at law or equity upon such termination.

                         ARTICLE 11. DISPUTE RESOLUTION

11.01    In the event of any dispute arising out of or relating to this
         Agreement, the affected Party shall promptly notify the other Party
         ("Notice Date"), and the Parties shall attempt in good faith to resolve
         the matter. Any disputes not so resolved shall be referred to senior
         executives of the Parties, who shall meet at a mutually acceptable time
         and location within thirty (30) days of the Notice Date and shall
         attempt to negotiate a settlement. If the senior executives of the
         Parties fail to meet within thirty (30) days of the Notice Date, or if
         the matter remains unresolved for a period of sixty (60) days after the

                                       12

<PAGE>

         Notice Date, either Party may at any time thereafter and upon notice to
         the other Party, submit such dispute to be finally settled by
         arbitration administered by the International Chamber of Commerce (ICC)
         in accordance with its International Arbitration Rules, as such rules
         may be modified by the following provisions of this Article 11.

11.02    Not later than 30 days after commencement of the arbitration, the
         Parties shall select one arbitrator from the ICC's Roster of Neutrals,
         provided that such arbitrator shall in any event be a patent attorney
         with significant experience in the biotechnology industry. If the
         Parties are unable to agree on an arbitrator, an arbitrator meeting the
         above qualifications shall be selected in accordance with ICC's rules
         not later than 60 days after commencement of the arbitration. The place
         of the arbitration shall be Denver, Colorado.

11.03    The arbitration shall be governed by the substantive laws of the State
         of New York without regard to conflict of law rules, Title 9 of the US
         Code (United States Arbitration Act).

11.04    The arbitration proceedings will be conducted in the English language
         and shall not foresee means of "discovery", like e.g. production of
         documents.

11.05    The arbitrator will have no authority to award any damages inconsistent
         with the terms of this Agreement except as may be required by statute.
         Judgment on the award may be entered by any court of competent
         jurisdiction.

11.06    Each Party shall bear its own costs and expenses in relation to such
         arbitration, provided, however, that the Parties shall share equally
         the costs and expenses of the arbitrator.

                           ARTICLE 12. MISCELLANEOUS

12.01    Assignment. Except as expressly provided hereunder, no Party may assign
         or transfer this Agreement or any rights or obligations hereunder
         without the prior written consent of the other Party (which consent
         shall not be unreasonably withheld); provided, however, that any Party
         may assign this Agreement and its rights and obligations hereunder
         without the other Party's consent to an Affiliate or in connection with
         the transfer or sale to a Third Party of all or substantially all of
         the assets or outstanding capital stock of such Party, whether by
         merger, sale of stock, or sale of assets. The rights and obligations of
         the Parties under this Agreement shall be binding upon and inure to the
         benefit of the successors and permitted assigns of the Parties. Any
         assignment not in accordance with this Agreement shall be void.

12.02    Governing Law.  This Agreement shall be governed by and  construed in
         accordance with the laws of the State of  New York, excluding its
         choice of law principles.

12.03    Notices. Any notice or other communication required or permitted to be
         given to any Party hereto shall be in writing unless otherwise
         specified and shall be deemed to have been properly given and
         effective: (a) on the date of delivery if delivered in person; (b) the
         date of electronically confirmed facsimile transmission if during the
         recipient's normal business hours, or otherwise on the next business
         day of the recipient; (c) one (1) business day after sending via next

                                       13

<PAGE>

         business day delivery by a nationally recognized overnight courier
         service; or (d) three (3) days after mailing by registered or certified
         mail, postage prepaid and return receipt requested, to the Party to be
         notified at the following address or facsimile number:

         In the case of Accelr8:

         Accelr8 Technology Corporation
         7000 North Broadway, Bldg 3-307
         Denver, Colorado 80221
         Facsimile: 1-303-863-1218
         Attention: Thomas V. Geimer, Chairman and CEO
         CC:

         In the case of Schott:

         Schott Jenaer Glas GmbH
         Otto-Schott-Strasse 13
         07745 Jena, Germany
         Facsimile: 49-3641-681970
         Attention: Christian Jabschinsky, General Manager Schott Nexterion
         CC:

         Any Party may change its address for communications by a notice to the
         other Parties in accordance with this ss.12.03.

12.04    Use of Name. Accelr8 grants to Schott the right to use Accelr8's name
         in the promotion of the Licensed Product.

12.05    Entire Agreement. The terms and provisions contained in this Agreement
         (including any and all Appendices referred to herein) constitute the
         entire Agreement between the Parties and shall supersede all previous
         communications, representations, agreements or understandings, either
         oral or written, between the parties hereto with respect to the subject
         matter hereof, and no agreement or understanding varying or extending
         this Agreement will be binding upon any Party hereto, unless in writing
         which specifically refers to this Agreement, signed by duly authorized
         officers or representatives of each of the Parties, and the provisions
         of this Agreement not specifically amended thereby shall remain in full
         force and effect according to their terms. This Agreement expressly
         supercedes and replaces the terms of the Letter of Intent between the
         Parties dated October 15, 2003, and the terms of the Supply Agreement
         between the Parties dated October 15, 2003, and the terms of the
         License Agreement between the Parties dated November 24, 2004.

12.06    Severability. The provisions and clauses of this Agreement are
         severable, and in the event that any provision or clause is determined
         to be invalid or unenforceable under any controlling body of the law,
         such provision or clause shall, if possible, be interpreted to achieve
         the intent of the Parties to this Agreement to the extent possible
         rather than voided. In any event, such invalidity or unenforceability
         will not in any way affect the validity or enforceability of the
         remaining provisions and clauses hereof.

                                       14
<PAGE>

12.07    No Agency. The Parties relationship, as established by this Agreement,
         is solely that of independent contractors. This Agreement does not
         establish a joint venture, partnership or similar business relationship
         among the Parties, except as expressly set forth herein. No Party is a
         legal representative of any other Party hereto, and no Party can assume
         or create any obligation, representation, warranty or guarantee,
         express or implied, on behalf of any other Party for any purpose
         whatsoever.

12.08    Waiver. The failure of a Party to insist upon strict performance of any
         provision of this Agreement or to exercise any right arising out of
         this Agreement shall neither impair that provision or right nor
         constitute a waiver of that provision or right, in whole or in part, in
         that instance or in any other instance. Any waiver by a Party of a
         particular provision or right shall be in writing, shall be as to a
         particular matter and, if applicable, for a particular period of time
         and shall be signed by such Party.

12.09    Amendment. This Agreement may only be modified or supplemented in a
         writing expressly stated for such purpose and signed by duly authorized
         representatives of the Parties to this Agreement.

12.10    Counterparts. This Agreement may be executed in any number of
         counterparts, each of which shall be deemed an original but all of
         which together shall constitute a single instrument.

12.11    No Third Party Rights or Obligations. No provision of this Agreement
         shall be deemed or construed in any way to result in the creation of
         any rights or obligation in any Third Party.

12.12    Titles and Subtitles. The titles of the sections and subsections of
         this Agreement are for convenience of reference only and are not to be
         considered in construing this Agreement.

12.13    Cumulative Rights. The rights, powers and remedies hereunder shall be
         in addition to, and not in limitation of, all rights, powers and
         remedies provided at law or in equity, or under any other agreement
         between the Parties. All of such rights, powers and remedies shall be
         cumulative, and may be exercised successively or cumulatively.

                  [Remainder of Page Intentionally Left Blank]

                                       15

<PAGE>

         IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed in duplicate by their respective duly authorized officers.

ACCELER8 TECHNOLOGY CORPORATION             SCHOTT JENAER GLAS GMBH

By:                                         By:
   ----------------------------                ---------------------------------

Name:                                       Name:
     --------------------------                  -------------------------------

Title:                                      Title:
      -------------------------                    -----------------------------

                                            By:
                                               ---------------------------------

                                            Name:
                                                 -------------------------------

                                            Title:
                                                  ------------------------------

                                       16
<PAGE>

                                   APPENDIX A
                                   ----------

                 LIST OF ACCELR8 PATENTS AND PATENT APPLICATIONS

United States Patent 7,067,194
         Title: Functional Surface Coating
         Issuance Date: June 27, 2006

United States Patent 6,844,028
         Title: Functional Surface Coating
         Issuance Date: January 18, 2005

United States Patent Application 200500100675 A1
         Title: Functional Surface Coating
         Publication Date: May 12, 2005

International Application Published Under the Patent Cooperation Treaty (PCT)
         Title: Functional Surface Coating
         Publication Number: WO/2003/000433 A1
         Publication Date: January 3, 2003
         Application Number: PCT/US02/20408
         And any national application or patent issued or derived from
         PCT/US02/20408, including but not limited to EP 1409155, CA 2455393 and
         JP2004531390.

International Application Published Under the Patent Cooperation Treaty (PCT)
         Title: Hydroxyl Functional Surface Coating
         Publication Number: WO/2005/069889 A1
         Publication Date: August 4, 2005
         Application Number: PCT/US2005/001373
         And any national application or patent issued or derived from
         PCT/US2005/001373.

<PAGE>

                                   APPENDIX B
                                   ----------

                     SPECIFICATIONS FOR THE LICENSED PRODUCT

The Licensed Product consists of:

          a glass microscope slide with the approximate dimensions 25 mm x 76 mm
          x 1 mm with an applied coating;

          said coating comprising an activated polymer formulation providing
          N-hydroxy succinimide (NHS) functional groups;

          said formulation comprising of:

               an active component comprising an NHS-activated polyethylene
               glycol polymer;

               a matrix forming component comprising polyoxyethylene sorbitan
               tetraoleate;

               and a crosslinking component comprising an azidosilane molecule.Exhibit 10.2

                         ACCELR8 TECHNOLOGY CORPORATION

                              EMPLOYMENT AGREEMENT
                              WITH THOMAS V. GEIMER

     This Employment Agreement is made and entered into effective the 1st day of
January 2008, by and between Accelr8 Technology Corporation, a Colorado
corporation (the "Company"), and Thomas V. Geimer, an individual ("Executive").

                                    RECITALS

     A. The Company desires to be assured of the association and services of
Executive for the Company.

     B. Executive is willing and desires to be employed by the Company, and the
Company is willing to employ Executive, upon the terms, covenants and conditions
hereinafter set forth.

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the mutual terms, covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

     1. Employment. The Company hereby employs Executive as its Chairman of the
Board of Directors, Chief Executive Officer, Chief Financial Officer, and
Secretary.

     2. Term. The term of this Agreement shall be for a period of five (5) years
effective as of January 1, 2008, and ending on December 31, 2012 (the "Initial
Term"), unless terminated earlier pursuant to Section 7 below; provided,
however, that Executive's obligations in Sections 6 and 8 below shall continue
in effect after such termination. This Agreement shall be automatically renewed
for successive one year periods (the "Renewal Term") unless, at least 90 days
prior to the expiration of the Initial Term or any Renewal Term, either party
gives written notice to the other party specifically electing to terminate this
Agreement at the end of the Initial Term or any such Renewal Term.

     3. Compensation; Reimbursement.

     3.1 Base Salary. For all services rendered by Executive under this
Agreement, the Company shall pay Executive a base salary of One Hundred Sixty
Five Thousand Dollars ($165,000) per year (the "Base Salary"). The Base Salary
shall be payable in equal, consecutive monthly installments. Payment of the Base
Salary shall be subject to the customary withholding tax and other employment
taxes as required with respect to compensation paid by a corporation to an
employee. It is expressly understood and agreed that the Base Salary may be
increased upon the approval of the Company's Compensation Committee (if such a
committee exists) or a subcommittee of the Board of Directors consisting only of
members of the Board who are not employees of the Company (if a Compensation
Committee does not exist).

<PAGE>

     3.2 Deferred Compensation. In addition to Executive's Base Salary provided
for in Section 3.1, the Company shall contribute Seventy Five Thousand Dollars
($75,000) per year to the Company's deferred compensation plan for Executive
("Deferred Compensation"). It is expressly understood and agreed that the
Deferred Compensation may be increased upon the approval of the Company's
Compensation Committee (if such a committee exists) or a subcommittee of the
Board of Directors consisting only of members of the Board who are not employees
of the Company (if a Compensation Committee does not exist).

     3.3 Deferred Salary. The Company's Compensation Committee (if such a
committee exists) or a subcommittee of the Board of Directors consisting only of
members of the Board who are not employees of the Company (if a Compensation
Committee does not exist) may, upon 30 days written notice to the Executive,
defer for up to six months up to 50% of the Executive's Base Salary and up to
50% of the Executive's Deferred Compensation (collectively the "Deferred
Salary"), if it determines, in its sole and absolute discretion that the Company
has insufficient cash assets and cash flow to continue to pay the full amount of
the Base Salary and Deferred Compensation. The Deferred Salary shall be
immediately due and payable in full, along with interest at a rate of 10% per
annum on the Deferred Salary on the earlier of (i) the end of the Initial Term
or any such Renewal Term of the Agreement, unless terminated earlier pursuant to
Section 7 below, or (ii) at such time as the Company's Compensation Committee
(if such a committee exists) or a subcommittee of the Board of Directors
consisting only of members of the Board who are not employees of the Company (if
a Compensation Committee does not exist) determine, in its sole and absolute
discretion that the Company has sufficient cash assets and cash flow to pay the
Deferred Salary.

     3.4 Bonus. In addition to the Base Salary and the Deferred Compensation,
the Company shall pay Executive such Bonus or Bonuses as the Company's
Compensation Committee (if such a committee exists) or a subcommittee of the
Board of Directors consisting only of members of the Board who are not employees
of the Company (if a Compensation Committee does not exist) shall determine in
their sole discretion.

     3.5 Long-term Incentive Compensation. On December 11, 2007, the date this
Agreement was approved by the Compensation Committee of the Company, Executive
was granted 100,000 options to acquire shares of the Company's $0.001 par value
common stock at a price of $3.60 per share pursuant to the Company's 2004
Omnibus Stock Option Plan (the "Stock Options"). The Stock Options shall expire
at 5:00 p.m. on December 11, 2017. The Company and Executive shall enter into a
separate stock option agreement to evidence the stock option grant, attached
hereto as Exhibit A.

     3.6 Key Man Life Insurance. In addition to the Base Salary, the Deferred
Compensation, and any Bonuses, the Company shall carry key man life insurance in
the amount of five million dollars ($5,000,000) on Executive's life (the "Key
Man Life Insurance"). Pursuant to a resolution passed by the Compensation
Committee effective November 30, 2007, Executive shall designate a beneficiary
who shall be entitled to one-half of the proceeds of the Key Man Life Insurance.

                                      -2-

<PAGE>

     3.7 Additional Benefits. In addition to the Base Salary, Deferred
Compensation, any Deferred Salary, Bonuses and the Key Man Life Insurance,
Executive shall be entitled to all other benefits of employment provided to the
employees of the Company.

     3.8 Reimbursement. Executive shall be reimbursed for all reasonable
"out-of-pocket" business expenses for business travel and business entertainment
incurred in connection with the performance of his duties under this Agreement
(1) so long as such expenses constitute business deductions from taxable income
for the Company and are excludable from taxable income to Executive under the
governing laws and regulations of the Internal Revenue Code (provided, however,
that Executive shall be entitled to full reimbursement in any case where the
Internal Revenue Service may, under Section 274(n) of the Internal Revenue Code,
disallow to the Company some percentage of meals and entertainment expenses);
and (2) to the extent such expenses do not exceed the amounts allocable for such
expenses in budgets that are approved from time to time by the Company. The
reimbursement of Executive's business expenses shall be upon monthly
presentation to and approval by the Company of valid receipts and other
appropriate documentation for such expenses.

     4. Scope of Duties.

     4.1 Assignment of Duties. Executive shall have such duties as may be
assigned to him from time to time by the Company's Board of Directors
commensurate with his experience and responsibilities in the positions for which
he is employed pursuant to Section 1 above. Such duties shall be exercised
subject to the control and supervision of the Board of Directors of the Company.

     4.2 General Specification of Duties. Executive's duties shall include, but
not be limited to those duties that are generally associated with the positions
of Chairman of the Board of Directors, Chief Executive Officer, Chief Financial
Officer and Secretary of a company similarly situated to the Company, and as
such duties and responsibilities are more particularly described in the
Company's Bylaws.

     The foregoing specifications are not intended as a complete itemization of
the duties which Executive shall perform and undertake on behalf of the Company
in satisfaction of his employment obligations under this Agreement.

     4.3 Executive's Devotion of Time. Executive hereby agrees to devote his
full time abilities and energy to the faithful performance of the duties
assigned to him and to the promotion and forwarding of the business affairs of
the Company, and not to divert any business opportunities from the Company to
himself or to any other person or business entity.

     4.4 Conflicting Activities.

     (a) Executive may, during the Initial Term or any Renewal Term of this
Agreement, be engaged in other business activities without the prior consent of
the Board of Directors of the Company; provided, however, that Executive may not
compete directly with the Company. Further, nothing in this Agreement shall be

                                      -3-

<PAGE>

construed as preventing Executive from investing his personal assets in passive
investments in business entities which are not in competition with the Company
or its affiliates, or from pursuing business opportunities as permitted by
Section 4.4(b).

     (b) Executive hereby agrees to promote and develop all business
opportunities that come to his attention relating to current or anticipated
future business of the Company, in a manner consistent with the best interests
of the Company and with his duties under this Agreement. Should Executive
discover a business opportunity that does not relate to the current or
anticipated future business of the Company, he shall first offer such
opportunity to the Company. Should the Board of Directors of the Company not
exercise its right to pursue this business opportunity within a reasonable
period of time, not to exceed sixty (60) days, then Executive may develop the
business opportunity for himself; provided, however, that such development may
in no way conflict or interfere with the duties owed by Executive to the Company
under this Agreement. Further, Executive may develop such business opportunities
only on his own time, and may not use any service, personnel, equipment,
supplies, facility or trade secrets of the Company in their development. As used
herein, the term "business opportunity" shall not include business opportunities
involving investment in publicly traded stocks, bonds or other securities, or
other investments of a personal nature.

     5. Change of Control. If any time during the Initial Term or any Renewal
Term of this Agreement there is a change of control of the Company, as defined
below, and Executive's employment is terminated by the Company under Section
7.1(a), (b), (d) or (e) within the greater of one (1) year following the change
of control or the remaining term of this Agreement (the "Change of Control
Date"), the Company shall pay to Executive (a) the balance of all amounts due
from the Change of Control Date until the end of the Initial Term or such
Renewal Term, including Deferred Compensation and any Deferred Salary due under
this Agreement plus (b) an amount equal to five times the sum of (i) his annual
Base Salary as in effect on the date of termination plus (ii) the amount of
$75,000 in recognition of Deferred Compensation payments made on behalf of
Executive, and (c) any other amounts due to Executive under any other provision
of this Agreement. This amount shall be paid to Executive in one lump sum as
soon as practicable, but in no event later than one hundred twenty (120) days,
after the date that Executive's employment is terminated. In addition to the
lump sum payment referenced in the preceding sentence, the Company shall pay to
Executive any accrued and unpaid Bonuses as provided for in Section 3.4 at the
same time as the lump sum payment is made. For example, if the Change of Control
Date was January 1, 2008, the amount paid to would be equal to $2,400,000
([$165,000 (Base Salary) + $75,000 (Deferred Compensation) X 5 (years remaining
on contract)] + [$165,000 (base salary) + $75,000 (deferred compensation) X 5]).

     For purposes of this subsection, a change of control shall mean the
occurrence of one or more of the following three events:

     (1) After the effective date of this Agreement, any person becomes a
     beneficial owner (as such term is defined in Rule 13d-3 promulgated under
     the Securities Exchange Act of 1934, as amended) directly or indirectly of
     securities representing 33% or more of the total number of votes that may
     be cast for the election of directors of the Company;

     (2) Within two years after a merger, consolidation, liquidation or sale of
     assets involving the Company, or a contested election of a Company
     director, or any combination of the foregoing, the individuals who were
     directors of the Company immediately prior thereto shall cease to
     constitute a majority of the Board; or

                                      -4-

<PAGE>

     (3) Within two years after a tender offer or exchange offer for voting
     securities of the Company, the individuals who were directors of the
     Company immediately prior thereto shall cease to constitute a majority of
     the Board.

     6. Confidentiality of Trade Secrets and Other Materials.

     6.1 Executive acknowledges that in his employment hereunder, he will be
making use of, acquiring and adding to the Company's trade secrets and its
confidential and proprietary information of a special and unique nature and
value relating to such matters as, but not limited to, the Company's business
operations, manufacturing processes, manufacturing techniques, manufacturing
methods, manufacturing technology, internal structure, financial affairs,
programs, software, systems, procedures, manuals, confidential reports, lists of
clients and prospective clients and sales and marketing methods, as well as the
amount, nature and type of services, equipment and methods used and preferred by
the Company's clients and the fees paid by such clients, all of which shall be
deemed to be confidential information. Executive acknowledges that such
confidential information has been and will continue to be of central importance
to the business of the Company and that disclosure of it to or its use by others
could cause substantial loss to the Company. In consideration of employment by
the Company, Executive agrees that during the term of this Agreement and any
renewal or extension of his employment by the Company and upon and after leaving
the employ of the Company for any reason whatsoever, Executive shall not, for
any purpose whatsoever, directly or indirectly, divulge or disclose to any
person or entity any of such confidential information which was obtained by the
Executive as a result of Executive's employment with the Company or any trade
secrets of the Company, but shall hold all of the same confidential and
inviolate.

     6.2 All contracts, agreements, financial books, records, instruments and
documents; client lists; memoranda; data; reports; programs; software; tapes;
rolodexes; telephone and address books; letters; research; card decks; listings;
programming; and any other instruments, records or documents relating or
pertaining to clients serviced by the Company or the Executive, the services
rendered by the Executive, or the business of the Company (collectively, the
"Records") shall at all times be and remain the property of the Company. Upon
termination of this Agreement and the Executive's employment under this
Agreement for any reason whatsoever, Executive shall return to the Company all
Records (whether furnished by the Company or prepared by the Executive), and
Executive shall neither make nor retain any copies of any of such Records after
such termination.

     6.3 All inventions and other creations, whether or not patentable or
copyrightable, made or conceived in whole or in part by Executive while employed
by the Company and within eighteen months thereafter, which relate directly to
the business, existing or proposed, of the Company or any other business or
research or development effort in which the Company or any of its subsidiaries
or affiliates engages during Executive's employment by the Company will be
disclosed promptly by Executive to the Company and shall be the sole and
exclusive property of the Company. All copyrightable works created by Executive
and covered by this Section 6.3 shall be deemed to be works for hire. Executive
shall cooperate with the Company in patenting or copyrighting all such

                                      -5-

<PAGE>

inventions and other creative works, shall execute, acknowledge, seal and
deliver all documents tendered by the Company to evidence its ownership thereof
throughout the world, and shall cooperate with the Company in obtaining,
defending, and enforcing its rights therein.

     7. Termination.

     7.1 Bases for Termination.

     (a) Executive's employment hereunder may be terminated at any time by
mutual agreement of the parties.

     (b) This Agreement shall automatically terminate on the last day of the
month in which Executive dies or becomes permanently incapacitated. "Permanent
incapacity" as used herein shall mean mental or physical incapacity, or both,
reasonably determined by the Company's Board of Directors based upon a
certification of such incapacity by, in the discretion of the Company's Board of
Directors, either Executive's regularly attending physician or a duly licensed
physician selected by the Company's Board of Directors, rendering Executive
unable to perform substantially all of his duties hereunder and which appears
reasonably certain to continue for at least six consecutive months without
substantial improvement. Executive shall be deemed to have "become permanently
incapacitated" on the date the Company's Board of Directors has determined that
Executive is permanently incapacitated and so notifies Executive.

     (c) Executive's employment may be terminated by the Company "with cause,"
effective upon delivery of written notice to Executive given at any time
(without any necessity for prior notice) if any of the following shall occur:

                  (1) any action by Executive which would be grounds for
         termination under applicable law (currently covering any willful breach
         of duty, and habitual neglect of duty);

                  (2) any material breach of Executive's obligations in Sections
         4 or 6 above, other than any such breach resulting from "Permanent
         incapacity"; or

                  (3) any material acts or events which inhibit Executive from
         fully performing his responsibilities to the Company in good faith,
         such as (i) a felony criminal conviction; (ii) any other criminal
         conviction involving Executive's lack of honesty or Executive's moral
         turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty,
         gross carelessness or gross misconduct.

     (d) Executive's employment may be terminated by the Company "without cause"
(for any reason or no reason at all) at any time by giving Executive 60 days
prior written notice of termination, which termination shall be effective on the
60th day following such notice. If Executive's employment under this Agreement
is so terminated, the Company shall (i) make a lump sum cash payment to
Executive within 10 days after termination is effective of an amount equal to
(1) Executive's Base Salary accrued to the date of termination; (2) unreimbursed
expenses accrued to the date of termination; (3) an amount equal to the greater

                                      -6-

<PAGE>

of (a) Executive's annual Base Salary (i.e., 12 months of Base Salary), or (b)
amounts remaining due to Executive as Base Salary (assuming that payments under
this Agreement were made until expiration of the Initial Term or if applicable
the Renewal Term), and (4) any other amounts due to Executive under any other
provision of this Agreement. For purposes of this provision, Executive's annual
Base Salary and the remaining portion of the term of the Agreement shall be
calculated as of the termination date. After the Company's termination of
Executive under this provision, the Company shall not be obligated to provide
the benefits to Executive described in Section 3 (except as may be required by
law). In addition to the lump sum payment referenced in the preceding sentence,
the Company shall pay to Executive the Bonus provided for in Section 3.4 based
upon the number of days in the year that Executive was employed by the Company,
within one hundred five days after the end of the fiscal year in which Executive
was terminated.

     (e) Executive may terminate his employment hereunder by giving the Company
60 days prior written notice, which termination shall be effective on the 60th
day following such notice.

     7.2 Payment Upon Termination. Upon termination under Sections 7.1(a), (b),
(c) or (e), the Company shall pay to Executive within 10 days after termination
an amount equal to the sum of (1) Executive's Base Salary accrued to the date of
termination; (2) unreimbursed expenses accrued to the date of termination, and
(3) any other amounts due to Executive under any other provision of this
Agreement. Except for the foregoing compensation then due and owing and the
compensation provided for in Section 8.1(d), the Company shall not be obligated
to compensate Executive, his estate or representatives after any such
termination. Further, Executive shall not be entitled to any of the benefits
described in Section 3 (except as provided by law) after such termination.

     7.3 Dismissal from Premises. At the Company's option, Executive shall
immediately leave the Company's premises on the date notice of termination is
given by either Executive or the Company.

     8. Restrictive Covenants.

     8.1 The Company and Executive acknowledge and agree that Executive's
services are of a special and unusual character which have a unique value to the
Company, the loss of which cannot be adequately compensated by damages in an
action at law and if used in competition with the Company could cause serious
harm to the Company. Further, Executive and the Company also recognize that an
important part of Executive's duties will be to develop good will for the
Company through his personal contact with customers, agents and others having
business relationships with the Company, and that there is a danger that this
good will, a proprietary asset of the Company, may follow Executive if and when
his relationship with the Company is terminated. Accordingly, Executive
covenants that for a period of eighteen months after Executive ceases to be
employed by the Company for any reason whatsoever, Executive shall not, within
the United States of America, without the prior written consent of the Company,
directly or indirectly:

     (a) Offer to render any services or solicit the rendition of any services
which were rendered by the Company during the two year period immediately
preceding such cessation of Executive's employment with the Company to any

                                      -7-

<PAGE>

clients, customers or accounts of the Company who were such at any time during
such two year period to or for the benefit or account of Executive or to or for
the benefit or account of any other person or entity.

     (b) Render or attempt to render any services which were rendered by the
Company during the two year period immediately preceding such cessation of
Executive's employment with the Company to any clients, customers or accounts of
the Company who were such at any time during such two year period to or for the
benefit or account of Executive or to or for the benefit or account of any other
person or entity.

     (c) Solicit for employment or employ to or for the benefit or account of
Executive or to or for the benefit or account of any other person or entity any
employee of the Company, nor shall Executive urge, directly or indirectly, any
client or referrer of clients, customers, or accounts of the Company to
discontinue, in whole or in part, business with the Company or not to do
business with the Company. For purposes of this Section 8.1(c) of this
Agreement, the term "referrer of clients" shall mean any person or entity who or
which referred a client, customer or account to the Company at any time prior to
such cessation of Executive's employment with the Company.

     (d) Engage, either as a consultant, independent contractor, proprietor,
stockholder, partner, officer, director, employee or otherwise, in any business
which (i) designs, sells, or competes in the surface chemistry and quantitative
instruments industry, or the DNA/RNA assays, protein-based assays and biosensors
industries, (ii) is developing and/or commercializing a diagnostic product
intended for rapid diagnosis in life-threatening bacterial infections, or (iii)
any business that otherwise competes with the Company in any state of the United
States or in any foreign country, in each such case where the Company sold,
licensed or otherwise its products or related services at any time during the
two year period immediately preceding such cessation of Executive's employment
with the Company. The Company and the Executive agree that the Company may elect
to either enforce or waive this Section 8.1(d); provided however, that if the
Company elects to enforce this Section 8.1(d), then subject to the provisions of
the immediately following sentence, the Company agrees to pay Executive on a
monthly basis an amount equal to his monthly Base Salary at the time of
termination for each month that the Company elects to keep this provision in
effect. It is expressly understood and agreed that if Executive is paid any
amounts pursuant to Section 7.1(d), then the provisions of this Section 8.1(d)
shall remain in full force and effect without the Company being obligated to
make the additional payments contemplated in the immediately preceding sentence.

     8.2 The parties hereto agree that to the extent that any provision or
portion of Section 8.1 of this Agreement shall be held, found or deemed to be
unreasonable, unlawful or unenforceable by a court of competent jurisdiction,
then any such provision or portion thereof shall be deemed to be modified to the
extent necessary in order that any such provision or portion thereof shall be
legally enforceable to the fullest extent permitted by applicable law; and the
parties hereto do further agree that any court of competent jurisdiction shall,
and the parties hereto do hereby expressly authorize, request and empower any
court of competent jurisdiction to, enforce any such provision or portion
thereof or to modify any such provision or portion thereof in order that any
such provision or portion thereof shall be enforced by such court to the fullest
extent permitted by applicable law.

                                      -8-
<PAGE>

     8.3 The provisions of Sections 8.1(a), 8.1(b), 8.1(c) and 8.1(d) of this
Agreement are cumulative. Compliance with Sections 8.1(a), 8.1(b), 8.1(c) and
8.1(d) of this Agreement is a condition precedent to the Company's obligation to
make any payments of any nature to Executive, whether under this Agreement or
otherwise. Nothing in this Agreement shall be construed as prohibiting the
Company from pursuing any other remedies available to it for a breach or
threatened breach of Sections 6 and 8 of this Agreement.

     8.4 As used in this Section 8, "clients", "customers" and "accounts" shall
include any person or entity that, directly or indirectly, through one or more
intermediaries, controls or is controlled by, or is under common control with,
any such "clients", "customers" or "accounts."

     9 Injunctive Relief. The Company and Executive hereby acknowledge and agree
that any violation of the provisions of Sections 6 or 8 hereunder will cause
irreparable injury to the Company and there is no adequate remedy at law for
such violation. Accordingly, in addition to any other relief to which the
Company may be entitled, the Company shall be entitled to such injunctive relief
as may be ordered by any court of competent jurisdiction including, but not
limited to, an injunction restraining any violation of Sections 6 or 8 above
without the proof of actual damages.

     10. Miscellaneous.

     10.1 Transfer and Assignment. This Agreement is personal as to Executive
and shall not be assigned or transferred by Executive without the prior written
consent of the Company. This Agreement shall be binding upon and inure to the
benefit of all of the parties hereto and their respective permitted heirs,
personal representatives, successors and assigns.

     10.2 Severability. Nothing contained herein shall be construed to require
the commission of any act contrary to law. Should there be any conflict between
any provisions hereof and any present or future statute, law, ordinance,
regulation or other pronouncement having the force of law, the latter shall
prevail, but the provision of this Agreement affected thereby shall be curtailed
and limited only to the extent necessary to bring it within the requirements of
the law, and the remaining provisions of this Agreement shall remain in full
force and effect.

     10.3 Governing Law. This Agreement is made under and shall be construed
pursuant to the laws of the State of Colorado.

     10.4 Counterparts. This Agreement may be executed in several counterparts
and all documents so executed shall constitute one agreement, binding on all of
the parties hereto, notwithstanding that all of the parties did not sign the
original or the same counterparts. Facsimile signatures shall be deemed valid
and binding.

     10.5 Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties with respect to the subject matter hereof and
supersedes all prior oral or written agreements, arrangements and understandings
with respect thereto. No representation, promise, inducement, statement or
intention has been made by any party hereto that is not embodied herein, and no
party shall be bound by or liable for any alleged representation, promise,
inducement or statement not so set forth herein.

                                      -9-

<PAGE>

     10.6 Modification. This Agreement may be modified, amended, superseded or
cancelled, and any of the terms, covenants, representations, warranties or
conditions hereof may be waived, only by a written instrument executed by the
party or parties to be bound by any such modification, amendment, supersession,
cancellation or waiver.

     10.7 Attorneys' Fees and Costs. In the event of any dispute arising out of
the subject matter of this Agreement, the prevailing party shall recover, in
addition to any other damages assessed, its attorneys' fees and court costs
incurred in litigating or otherwise settling or resolving such dispute whether
or not an action is brought or prosecuted to judgment. In construing this
Agreement, none of the parties hereto shall have any term or provision construed
against such party solely by reason of such party having drafted the same.

     10.8 Waiver. The waiver by either of the parties, express or implied, of
any right under this Agreement or any failure to perform under this Agreement by
the other party, shall not constitute or be deemed as a waiver of any other
right under this Agreement or of any other failure to perform under this
Agreement by the other party, whether of a similar or dissimilar nature.

     10.9 Cumulative Remedies. Each and all of the several rights and remedies
provided in this Agreement, or by law or in equity, shall be cumulative, and no
one of them shall be exclusive of any other right or remedy, and the exercise of
any one or such rights or remedies shall not be deemed a waiver of, or an
election to exercise, any other such right or remedy.

     10.10 Headings. The section and other headings contained in this Agreement
are for reference purposes only and shall not in any way affect the meaning and
interpretation of this Agreement.

     10.11 Notices. Any notice under this Agreement must be in writing, may be
telecopied provided that evidence of the transmission and receipt is created at
the time of transmission, sent by express 24-hour guaranteed courier, or
hand-delivered, or may be served by depositing the same in the United States
mail, addressed to the party to be notified, postage-prepaid and registered or
certified with a return receipt requested. The addresses of the parties for the
receipt of notice shall be as follows:

If to the Company:                  Accelr8 Technology Corporation
                                    7000 North Broadway, Building 3-307
                                    Denver, CO 80221

If to Executive:                    Thomas V. Geimer
                                    7000 North Broadway, Building 3-307
                                    Denver, CO 80221

Each notice given by registered or certified mail shall be deemed delivered and
effective on the date of delivery as shown on the return receipt, and each
notice delivered in any other manner shall be deemed to be effective as of the

                                      -10-

<PAGE>

time of actual delivery thereof. Each party may change its address for notice by
giving notice thereof in the manner provided above.

     10.12 Survival. Any provision of this Agreement which imposes an obligation
after termination or expiration of this Agreement shall survive the termination
or expiration of this Agreement and be binding on Executive and the Company.

     10.13 Withholdings. Not withstanding any other provision of this Agreement,
the Company may withhold from any amounts payable or benefits provided to
Executive under this Agreement any Federal, state or local taxes as shall be
required to be withheld pursuant to any applicable law or regulation.

     10.14 Effective Date. This Agreement shall become effective as of the date
set forth on page 1 when signed by Executive and the Company.

                [REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

                                      -11-
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Employment
Agreement to be executed as of the date first set forth above.

THOMAS  V. GEIMER                   ACCELR8 TECHNOLOGY CORPORATION

/s/                                 By:  /s/
--------------------------------         ---------------------------------------
                                         A. Alexander Arnold III,
                                         Director and Member of the
                                         Compensation Committee

                                    By:  /s/
                                         ---------------------------------------
                                         Charles E. Gerretson, Director and
                                         Member of the Compensation Committee

                                      -12-
<PAGE>

                                    EXHIBIT A

                             STOCK OPTION AGREEMENT

                                      -13-

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