Document:

ex1069.htm

    Exhibit
10.69

     

     

    
      ADVISORY
AGREEMENT

      

      This
Advisory Agreement (the “Agreement”) is made
and entered into as of July 1, 2007 (“Effective Date”), between Kronos Advanced
Technologies, Inc. (“Kronos”), a Nevada
corporation and Barry Salzman, an individual resident in the State of New York
(“Advisor”).

      

      Recitals

      

      WHEREAS,
Kronos desires Advisor to provide certain services as described herein and is
willing to compensate Advisor, subject to the covenants, conditions and
limitations set forth in this Agreement; and

      

      WHEREAS,
Advisor has special knowledge and other background experience relevant to the
field and is willing to provide certain services subject to the covenants,
conditions and limitations of this Agreement.

      

      Agreement

      

      In
consideration of the foregoing recitals and the mutual covenants hereinafter
provided, and for other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged and intending to be legally and
equitably bound hereby, the parties agree as follows:

      

      
        	
                I.

              	
                Scope and Limitations
      of Engagement.  

              

      

       

      1.           Kronos appoints
Advisor.  Kronos hereby appoints Advisor and Advisor hereby
accepts such appointment, on a non-exclusive basis, to provide certain services
(“Services”) as described in Attachment A (“Statement of
Work”).  The Statement of Work may be modified or amended by
mutual written consent of Kronos and Advisor.

       

      2.           Independent Status of
Advisor.  Advisor shall, at all times during the Term of this
Agreement, be an independent contractor hereunder, rather than a co-venturer,
agent, employee, or representative of Kronos.  Advisor shall be
responsible for Advisor’s taxes, shall not be required to work on
a continuing daily basis or any specific work schedule, and shall not be
provided with office space or administrative support by Kronos. Advisor is
permitted to engage in other businesses and ventures during the Term of this
Agreement.  Advisor shall be solely responsible for complying with all
laws, rules, and regulations applicable to its services
hereunder.  Kronos shall not be liable for any injury (including
death) to Advisor or others, workmen’s compensation, employer’s liability,
social security, withholding tax, or other taxes of similar nature for or on
behalf of Advisor or any other person, persons, firms or corporations consulted
by Advisor in carrying out this Agreement.  It is understood, however,
that should Kronos be held liable for any social security, withholding or other
taxes of a similar nature on behalf of Advisor, then Kronos shall have the right
to recover an equivalent amount from Advisor or deduct such amount from any
compensation due to Advisor pursuant to this Agreement.

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      3.           Confidentiality.  The
Advisor acknowledges that during the Term of this Agreement, the Advisor may be
given access to or may become acquainted with Confidential Information (as
hereinafter defined) and/or trade secrets of Kronos.  Subject to the
exceptions set forth below and permitted uses of Confidential Information in
connection with the provision of services pursuant to this Agreement, the
Advisor acknowledges that the Confidential Information and/or trade secrets of
Kronos as such may exist from time to time, are valuable, confidential, special
and unique assets of Kronos, expensive to produce and maintain and essential for
the operation of its business. The Advisor hereby agrees that he shall not,
during the Term of this Agreement and for a period of five (5) years thereafter,
directly or indirectly, communicate, disclose or divulge to any Person, as
defined below, or use for its benefit or the benefit of any Person, in any
manner any Confidential Information or trade secrets of Kronos acquired before
or during the Term of this Agreement, or any other Confidential Information
concerning the conduct and details of the businesses of Kronos, except as may be
required for the Advisor to perform the services hereunder and otherwise to
comply with the terms and conditions and intent of this Agreement and by law, or
to enforce the Advisor’s rights hereunder.  As used in this Section,
"Confidential
Information” of Kronos means any and all information (verbal and written)
relating to Kronos or any of its subsidiaries or any of its affiliates, or any
of their respective activities, including, but not limited to, information
relating to trade secrets, personnel lists, financial information, research
projects, services used, pricing, software, software code, technical memoranda,
designs and specifications, new products and services, comparative analyses of
competitive products, technology, know-how, customers, customer lists and
prospects, product sourcing, marketing and selling and
servicing.  Confidential Information shall not include information
that, at the time of disclosure, (a) is known or available to the general public
by publication (including, without limitation, the public disclosure of
information pursuant to Kronos’s reporting obligations under applicable federal
and state securities laws) or otherwise through no act or failure to act on the
part of the Advisor in violation of this Section I(3), (b) became known or
was derived by the Advisor by some demonstrable means other than as a result of
the Advisor’s access thereto, (c) was rightfully received from a third party
without similar restrictions and without breach of this Agreement or any other
agreement, or (d) was independently developed by the Advisor without any
utilization of the Confidential Information.  The Advisor shall not be
liable for any disclosure of Confidential Information made pursuant to a valid
and enforceable judicial or governmental order (a “Mandated Disclosure”)
not sought by the Advisor for the purpose of circumventing his obligations
hereunder; provided, however, that the Advisor’s obligations under this Section
I (3) shall be deemed satisfied if, promptly upon the Advisor’s receipt of
a subpoena or other written notice seeking disclosure of Confidential
Information, the Advisor shall provide written notice to Kronos of any attempt
to obtain the Mandated Disclosure and in any event prior to any disclosure of
Confidential Information pursuant thereto, and reasonably cooperates with Kronos
in the event that Kronos elects to legally contest and avoid the Mandated
Disclosure.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        	
                II.

              	
                Intellectual
      Property.

              

      

       

      1.           Advisor
covenants and agrees that any works of authorship, work product, materials,
copyrights, discoveries, improvements, inventions and/or patent rights and
anything else that Advisor may make or acquire, either solely or jointly with
others, which result from Advisor’s contact with Kronos personnel and operation
or from Advisor’s work for Kronos, during the Term of this Agreement or while
engaged upon the advisory work under this Agreement, and for six (6) months
thereafter (“Works”), shall be the exclusive property of Kronos and agrees to
assign, and by these presents does hereby assign and transfer all his entire
right, title and interest in and to such inventions, improvements and patent
rights to Kronos, its successors and assigns, and Advisor agrees upon the
request of Kronos to execute and deliver all documents and perform such acts
necessary or advisable to secure to Kronos, its successors and assigns or its
nominee without payment of additional consideration therefor other than the
payment for said advisory services as herein provided, the entire right, title
and interest in and to said discoveries, improvements and inventions, including
applications for and/or letters patent of the United States and countries
foreign thereto provided the cost of preparing such papers, assignments and
applications for letters patent and the prosecution and maintenance of said
applications for and/or letters patent and all proceedings and litigation is
borne by Kronos or its nominee.  Both parties agree that any
obligation Advisor may now have to assign inventions to Kronos is not waived or
changed by terms of this Agreement.

       

      2.           Advisor
agrees that any and all information including know-how and trade secrets that
may be imparted to him by Kronos as well as Advisor’s advice, recommendations
and opinions resulting from such advisory service shall be maintained
confidential and secret and Advisor shall not use or disclose said information
to others except officials and duly authorized employees and representatives of
Kronos, without prior written consent and approval of Kronos.

       

      3.           Advisor
shall at all times during and after the Term of this Agreement, upon the request
and the expense of Kronos, execute and deliver any and all papers, and do any
and all lawful acts that may be necessary or desirable in the opinion of Kronos
including but not limited to:

       

      a.           To
obtain letters patent, both domestic and foreign on said
inventions;

       

      b.           To
secure, establish and maintain title in Kronos, its successors and assigns, to
said inventions, applications and letters patent, including making such title of
lawful and public record;

       

      c.           To
cooperate fully with Kronos, both during and after the Term of this Agreement,
with respect to the procurement, perfection of title, maintenance and
enforcement of copyrights, patents and other intellectual property rights (both
in the United States and foreign countries) relating to developments or
inventions; to sign all papers, including, without limitation, copyright
applications, patent applications, declarations, oaths, formal assignments,
assignments of priority rights, and powers of attorney, which Kronos may deem
necessary or desirable in order to protect its rights and interests in any
development or invention.  If Kronos is unable, after reasonable
effort, to secure Advisor’s signature on any such papers, any executive officer
of Kronos shall be entitled to execute any such papers as his agent and
attorney-in-fact, and Advisor hereby irrevocably designates and appoints each
executive officer of Kronos as his agent and attorney-in-fact to execute any
such papers on Advisor’s behalf, and to take any and all actions as Kronos may
deem necessary or desirable in order to protect its rights and interests in any
development or invention, under the conditions described in this
sentence.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      d.           To
defend, establish or otherwise preserve the validity of said letter patent
against any and all infringers.

       

      4.           Advisor
shall promptly disclose to Kronos or its designees, in writing, all inventions
(regardless of whether such inventions are related to the business, products or
services of Kronos or any of its affiliated companies) made or conceived, either
solely or jointly with others, during the term of this Agreement and for six (6)
months thereafter.

       

      5.           Advisor
shall within two (2) days after written request by Kronos turn over to Kronos
all plans, notes, blueprints, designs, models, laboratory notebooks, etc.,
relating to inventions conveyed or covered by this Agreement, and Advisor hereby
assigns, sells, transfers and sets over unto Kronos all right, title and
interest in and to said plans, notes, blueprints, designs, models, laboratory
notebooks, etc.

       

      
        	
                III.

              	
                Compensation.

              

      

       

      1.           Advisors
Fee.  Kronos shall pay to Advisor and Advisor shall receive
from Kronos the Advisor’s Fee as described in the Statement of
Work.  Any compensation payable to any person other than the Advisor
in connection with the provision of the Advisor’s services hereunder shall be
paid out of the compensation described in this Section III.  The
compensation to be paid in accordance with the Statement of Work is the sole
compensation to be paid by Kronos in connection therewith.

       

      2.           Expense
Reimbursement.  Kronos shall reimburse pre-approved travel or
other pre-approved expenses incurred by Advisor in connection with services to
be rendered by Advisor pursuant to this Agreement, as expressly agreed in
advance and writing by Kronos.  Pre-approved travel and pre-approved
other expenses will be reimbursed within thirty (30) business days from receipt
of expense documentation.

       

      
        	
                IV.

              	
                Advisors Warranties,
      Representations and Additional
Covenants.

              

      

       

      1.           Full
Authority.  Advisor warrants and represents to Kronos
that:  (i) Advisor has the full unrestricted right to enter into this
Agreement, (ii) by entering into this Agreement, Advisor is not violating or
otherwise contravening any agreement to which Advisor is bound or any applicable
law; and (iii) no person must consent to the execution and performance of this
Agreement by Advisor.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      2.           Fraud and Bad
Acts.  Advisor represents and warrants to Kronos that Advisor
is not now, and covenants that Advisor shall not in the future be, a Person (i)
subject to an order of any regulator under applicable law, or (ii) convicted
within the previous ten (10) years of a felony.

       

      3.           Compliance with all
laws.  Advisor covenants with Kronos that Advisor shall comply
with all applicable laws in connection with the execution and performance of
this Agreement.

       

      4.           Full Disclosure to
Kronos.  Without limiting any other provision of this
Agreement, Advisor agrees to fully disclose all activities in which Advisor is
engaged other than pursuant to this Agreement.

       

      
        	
                V.

              	
                Term and
      Termination.  

              

      

       

      1.           The
term of this Agreement is one year from the Effective Date (the “Term”).

       

      2.           This
Agreement may be terminated immediately by Kronos, without notice, in the event
that Advisor commits a material breach of this Agreement.

       

      3.           In
the absence of breach by Advisor, Kronos may terminate this Agreement upon ten
(10) days prior written notice to Advisor.  In this event, Advisor
shall be entitled to all compensation pursuant this Agreement which has been
earned.

       

      4.           Advisor
may terminate this Agreement upon ten (10) days prior written notice to
Kronos.

       

      
        	
                VI.

              	
                Miscellaneous.

              

      

       

      1.           Binding Effect and Survival
of Rights.  This Agreement will benefit and bind the parties
and their respective personal representatives, executors, administrators, heirs,
legatees, devisees, successors and assigns.

       

      2.           Notices.  All
notices, demands, requests and other communications required or permitted to be
given by any provision of this Agreement will be in writing addressed as
follows:

       

      
        	
                If to Kronos:

              	
                Kronos
      Advanced Technologies, Inc.

                464
      Common Street, Suite 301

                Belmont,
      MA 02478

                Telephone:  617.364.5087

                Attention:  Daniel
      R. Dwight, President

                and
      Chief Executive Officer

              

      

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      
        	 
      	 
      
	
                If to Advisor:

                 

              	
                Barry
      Salzman

                655
      Madison Avenue

                New
      York, NY

                Telephone:  1.
      (212) 888-8100

              
	 
      	 
      

      

      Any such notice, demand, request or
communication will be deemed to have been given and received for all purposes
under this Agreement: (a) on the date of delivery when delivered in person; (b)
on the date of transmission when delivered by facsimile transmission (provided
such transmission is confirmed by transmission receipt and such notice is
promptly confirmed by some other means described herein); and/or (c) on the next
business day after the same is deposited with a nationally recognized overnight
delivery service that guarantees overnight delivery; provided, however, if the
day such notice, demand, request or communication will be deemed to have been
given and received as aforesaid is not a business day, such notice, demand,
request or communication will be deemed to have been given and received on the
next business day.

      

      Any party to this Agreement may change
such parties address for the purpose of notice, demands, requests and
communications required or permitted under this Agreement by providing written
notice of such change of address to all of the parties by written notice as
provided herein.

       

      3.           Interpretation.  The
parties acknowledge to each other that each party has reviewed and participated
in the negotiation of this Agreement.  Accordingly, the normal rule of
construction to the effect that any ambiguities are resolved against the
drafting party will not be employed in the interpretation of this
Agreement.

       

      4.           Incorporation.  The
Recitals, all exhibits and schedules attached hereto, or to be attached hereto,
and all other agreements and instruments referred to herein are hereby
incorporated by reference into this Agreement as fully as if copied herein
verbatim.

       

      5.           Further
Assurances.  The parties further agree that, upon request, they
will do such further acts and deeds and will execute, acknowledge, deliver and
record such other documents and instruments as may be reasonably necessary from
time to time to evidence, confirm or carry out the intent and purpose of this
Agreement.

       

      6.           Lawful
Authority.  Each party executing this Agreement hereby
represents and warrants to all other parties that they have been fully
authorized to execute and deliver this Agreement.

       

      7.           Attorneys
Fees.  If any legal action or other proceeding (including
arbitration pursuant to this Agreement) is brought for the enforcement of this
Agreement, or because of any alleged dispute, breach, default or
misrepresentation in connection with any provisions of this Agreement, the
prevailing party will be entitled to recover reasonable attorneys fees, court
costs and all reasonable expenses, even if not taxable or assessable as court
costs (including, without limitation, all such fees, costs and expenses incident
to appeal) incurred in that action or proceeding in addition to any other relief
to which such party may be entitled.

       

      
        
          
          

        

        
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      8.           Waivers and
Consents.

       

      (i)           Each
and every waiver of any provision of this Agreement must be in writing and
signed by each party whose interests are adversely affected by such
waiver.

       

      (ii)          Unless
otherwise expressly provided in a waiver, no such waiver granted in any one
instance will be construed as a continuing waiver applicable in any other
instance.

       

      (iii)         No
waiver by any party to this Agreement to or of any breach or default by any
other party to this Agreement in the performance by such other party of its
obligations hereunder will be deemed or construed to be a waiver of any breach
or default of any other party of the same or any subsequent obligations
hereunder.

       

      (iv)         Subject
to applicable statutes of limitation, the failure on the part of any party to
this Agreement to complain of any act or failure to act of any other party to
this Agreement or to declare such other party in default, irrespective of how
long such failure continues, shall not constitute a waiver by the non-defaulting
party of its rights hereunder.

       

      (v)          Each
and every consent by any party to this Agreement must be in writing signed by
the party to be bound thereby.  No consent will be deemed or construed
to be a consent to any action except as described in such writing.

       

      9.           Section
Headings.  The Section headings contained in this Agreement are
for reference purposes only and will not affect the interpretation of this
Agreement.

       

      10.           Governing
Law.  This Agreement will be governed in all respects,
including validity, interpretation and effect by, and will be enforceable in
accordance with, the internal laws of the State of Nevada without regard to
conflicts of laws principles.

       

      11.           Severability.  If
any provision of this Agreement is held to be unlawful, invalid or unenforceable
under present or future laws effective during the term hereof, such provision
will be fully severable, and this Agreement will be construed and enforced
without giving effect to such unlawful, invalid or unenforceable
provision.  Furthermore, if any provision of this Agreement is capable
of two (2) constructions, one of which would render the provision void, and the
other which would render the provision valid, then the provision will have the
meaning which renders it valid.

       

      12.           Counterpart
Execution.  This Agreement may be executed in multiple
counterparts, each one of which will be deemed an original, but all of which
will be considered together as one and the same instrument.  Further,
in making proof of this Agreement, it will not be necessary to produce or
account for more than one (1) such counterpart.  Provided all parties
have signed at least one counterpart, the execution by a party of a signature
page hereto will constitute due execution and will create a valid, binding
obligation of the party so signing, and it will not be necessary or required
that the signatures of all parties appear on a single signature page
hereto.

       

      
        
          
          

        

        
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      13.           Amendments.  Each
and every modification and amendment of this Agreement must be in writing and
except as otherwise provided herein, signed by all the parties
hereto.

       

      14.           Entire
Agreement.  This Agreement contains the entire agreement
between the parties regarding the subject matter hereof.  Any prior
agreements, discussions or representations not expressly contained in this
Agreement will be deemed to be replaced by the provisions hereof, and no party
has relied on any such prior agreements, discussions or representations as an
inducement to the execution hereof.

       

      15.           Rules of
Construction.  (a) All terms in this Agreement in the singular
and plural will have comparable meanings when used in the plural and vice-versa
unless otherwise specified;  (b) the words hereof, herein, hereunder
and words of similar import when used in this Agreement, will refer to this
Agreement as a whole and not any particular provision of this Agreement and all
references to articles, sections and subdivisions thereof are to this Agreement
unless otherwise specified;  (c) the words include, includes and
including will be deemed to be followed by the phrase without
limitation;  (d) all pronouns and any variations thereof will be
deemed to refer to masculine, feminine or neuter, singular or plural, as the
identity of the individual, individuals, entity or entities may
require;  (e) all references to documents, contracts, agreements or
instruments will include any and all supplements and amendments
thereto;  and (f) all accounting terms not specifically defined herein
will be construed in accordance with generally accepted accounting principles or
generally accepted auditing standards then applied in the United
States.

       

      16.           Forum
Selection.  ADVISOR AND KRONOS DO HEREBY IRREVOCABLY AND
UNCONDITIONALLY SUBMIT TO THE SOLE AND EXCLUSIVE JURISDICTION OF THE COURTS OF
THE STATE OF NEW YORK AND DO FURTHER IRREVOCABLY AND UNCONDITIONALLY STIPULATE
AND AGREE THAT THE FEDERAL COURTS IN THE STATE OF NEW YORK OR THE STATE COURTS
OF NEW YORK WILL HAVE JURISDICTION TO HEAR AND FINALLY DETERMINE ANY DISPUTE,
CLAIM, CONTROVERSY OR ACTION ARISING OUT OF OR CONNECTED (DIRECTLY OR
INDIRECTLY) WITH THIS AGREEMENT THAT IS NOT SUBJECT TO ARBITRATION, OR TO ENTER
A JUDGMENT CONSISTENT WITH ANY ARBITRATION AWARD. ADVISOR AND KRONOS FURTHER
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY AND ALL OBJECTIONS OR DEFENSES
TO SAID JURISDICTION.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
AND UNCONDITIONALLY AGREES THAT SERVICE UPON ANY PARTY HERETO SHALL BE MADE BY
DELIVERY VIA PRIORITY OVERNIGHT DELIVERY (E.G., FEDEX) AND BY FACSIMILE OF A
COPY OF SUCH PROCESS TO THE ADDRESS OF SUCH PARTY FOR NOTICES TO SUCH PARTY AS
SET FORTH IN THIS AGREEMENT LETTER (OR SUCH DIFFERENT ADDRESS AT SUCH PARTY WILL
HEREAFTER SPECIFY IN ACCORDANCE WITH THE TERMS OF THIS
AGREEMENT).  THE FOREGOING CONSENT, IN ADVANCE, TO THE JURISDICTION OF
THE AFOREMENTIONED COURTS AND THE AFOREMENTIONED METHOD OF SERVICE ARE MATERIAL
INDUCEMENTS FOR THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      17.           Personal Nature of
Undertaking.  Advisor acknowledges that the engagement of
Advisor’s services hereunder by Kronos is personal to Advisor, and such services
shall not be delegated or assigned to any other Person or Advisor without
Kronos’ express prior written consent, which may be withheld in Kronos’ sole and
absolute discretion.

       

      

      IN WITNESS WHEREOF, the
parties have executed this Advisors Agreement effective as of the date signed by
the parties, as shown below.

      

      Kronos Advanced
Technologies:

      

      

      By:___________________________________

      Daniel R.
Dwight

      Title:  President
and Chief Executive Officer

      

      

      

      Advisor:

       

       

      By:______________________________________

      Name:   Barry
Salzman

       

      
 

      
        
          
          

        

        
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      ATTACHMENT
A

      

      

      

      

      Project: Advisory consultation
to the Company on general business matters, funding and customer
relationships.

      

      Advisory Fee: $20,833 /
month

      

      Limitation: The Advisor is not
an Officer or Director of the Company and is limited solely to an advisory role
to the Company.ex1070.htm

    Exhibit
10.70

     

     

    
      SEVERANCE
AGREEMENT AND GENERAL RELEASE

       

      THIS SEVERANCE AGREEMENT AND GENERAL
RELEASE (this “Agreement”), dated as
of May 16, 2008, is made and entered into by and between Kronos Advanced
Technologies, Inc., a Nevada corporation (the “Company”), and Daniel
R. Dwight, an individual resident of the State of Massachusetts (“Dwight”).

       

      WHEREAS, Dwight is a
stockholder, officer, director and employee of the Company;

       

      WHEREAS, Dwight is a party to
the following agreements with the Company:  Employment Agreement,
dated November 15, 2001 (“Employment
Agreement”); a Promissory Note, dated March 31, 2004 made by the Company
in favor of Dwight (“Note”); Stock Option
Agreement, dated June 19, 2007 (“Stock Option
Agreement”); and Indemnification Agreement, dated August 11, 2000 (“Indemnification
Agreement”);

       

      WHEREAS, the Company has informed
Dwight that his role as President and Chief Executive Officer is being
terminated effective June 20, 2008 (“Termination Date”),
which is a termination for “Good Reason” under the Employment
Agreement;

       

      WHEREAS, in connection with
the foregoing, Dwight and the Company desire to evidence in writing the terms
and conditions of such termination.

       

      NOW, THEREFORE, in
consideration of the foregoing and the respective representations, warranties,
covenants, agreements, and conditions set forth herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

       

      1. EMPLOYMENT
TERMINATION.  Dwight will take his five (5) weeks of accrued
vacation beginning on May 19, 2008 and continuing until June 20,
2008.  Dwight’s Company employment will end on June 20, 2008 (“Termination Date”)
and by executing this Agreement, Dwight resigns as an officer and director of
the Company effective as of the date hereof.  During his employment,
Dwight participated in certain Company-provided benefits, and he also purchased
his own health, life and disability insurance benefits through third-party
insurance companies, for which he was reimbursed by the Company (“Third-Party Benefit
Plans”).  As of the Termination Date, any entitlement Dwight
had or might have had under a Company-provided benefit plan shall cease, except
as required by law.  The Termination Date shall be the qualifying
event under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).  Dwight
understands that his rights and continued participation in those
Company-sponsored plans will be governed by the terms of such plans, and that
Dwight generally will become ineligible for those plans on the Termination
Date.  Thereafter, Dwight will be able to purchase continued coverage
under certain of such Company-provided plans and to continue his current health
and other benefits with his existing Third-Party Benefit Plans; provided,
however, that to the extent Dwight purchases continuation coverage under certain
of Company-provided and/or continues his benefits under his Third-Party Benefit
Plans, the Company shall reimburse Dwight for such coverage on a monthly basis
during the 12-month period after the Termination Date within thirty (30) days of
Dwight’s written reimbursement request for such benefits.  By
executing this Agreement both parties acknowledge and agree that the Employment
Agreement is hereby terminated and of no further force and effect; provided, however, that
the parties acknowledge and agree that Sections 4 (Confidentiality/Covenant
Against Unfair Competition), 5 (Company Property) and 8 (Indemnification)
thereof shall survive such termination and remain in full force and effect in
accordance with the terms thereof.  Dwight agrees that all provisions
of that certain Voting Agreement dated as of June 20, 2007, by and among Dwight,
the Company and the other parties thereto (“Voting Agreement”)
shall continue to be in full force and effect after the Termination
Date.

       

      
      

       

      
        	 	
                Initial

                Dwight /s/
      DRD

                Company
____ 

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      2. PAYMENTS
AND BENEFITS.

       

      (a) Severance
Payment.  The Company shall pay to Dwight twenty-four equal
severance payments each in the amount of Nine Thousand Three Hundred
Seventy-Five Dollars ($9,375.00), minus applicable federal, state, and local tax
withholdings, the first payment of which shall be paid on the first regularly
scheduled payroll period following the Termination Date, and each subsequent
payment shall be paid immediately thereafter in accordance with the Company’s
regular payroll procedures until the entire severance payment is paid in
full.  At the appropriate time, as required by law, the Company shall
issue an IRS Form W-2 reflecting such payments.  Such payments will
not be taken into account in determining Dwight’s rights or benefits under any
other program.

       

      (b) Loan
Repayment.  Within ten (10) days of the execution of this
Agreement by all parties, the Company shall repay to Dwight the aggregate amount
of the outstanding principal and all accrued interest on the Note as of the date
hereof, which is Fifty Nine Thousand Nine Hundred Eighty-Six and 29/100 Dollars
($59,986.29).  Upon receipt of payment of the Note in full, Dwight
shall return to the Company for cancellation all documentation, including,
without limitation, the Note and any other document, evidencing indebtedness
owed by the Company to Dwight.

       

      3. RELEASE.

       

      (a) Dwight
releases (i.e., gives
up) all known and unknown claims that Dwight presently has (i.e., has as of the
date hereof)  against the Company, all current and former parents,
subsidiaries, related companies, partnerships, joint ventures, or other
affiliates, and, with respect to each of them, their predecessors and
successors; and, with respect to each such entity, all of its past, present, and
future employees, officers, directors, stockholders, owners, representatives,
assigns, attorneys, agents, insurers, employee benefit programs (and the
trustees, administrators, fiduciaries, and insurers of such programs), and any
other persons acting by, through, under or in concert with any of the persons or
entities listed in this section, and their successors (“Released Parties”),
except claims that the law does not permit Dwight to waive by signing this
Agreement.  For example, Dwight is releasing all common law contract,
tort, or other claims he might have, as well as all claims he might have under
the WARN Act, the Age Discrimination in Employment Act (“ADEA”), Title VII of
the Civil Rights Act of 1964, Sections 1981 and 1983 of the Civil Rights Act of
1866, the Americans With Disabilities Act (ADA), the Employee Retirement Income
Security Act of 1974 (“ERISA”), and similar
state or local laws.  Notwithstanding the forgoing, Dwight is not
releasing any rights or claims related to indemnification, which rights are set
forth in Section 8 of the Employment Agreement and the Indemnification
Agreement.

       

      (b) The
Company hereby acknowledges and agrees that as of the Termination Date it has no
knowledge of any claims it may have against Dwight.

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      4. COOPERATION
REQUIRED.  If requested by the Company after May 16, 2008 and
until the date that is six (6) months after the date hereof, Dwight shall
cooperate with the Company or any affiliate for up to twenty (20) hours per
month in effecting a smooth transition of his responsibilities to others (“Transition
Services”).  The first eight (8) hours in each month that
Dwight works performing Transition Services shall be at no cost to the Company,
but to the extent Dwight works more than eight (8) hours in any month performing
any such Transition Services and/or provides other consulting services as may be
requested by the Company (i.e., consulting services that are not Transition
Services), he will be paid an hourly rate of Three Hundred Dollars ($300) for
each such hour that he works.  The parties have evidenced such intent
and terms in that certain Consulting Agreement executed by the parties
simultaneously herewith.

       

      5. MUTUAL
NON-DISPARAGEMENT.  Dwight agrees not to criticize, denigrate,
or otherwise disparage the Company, any other Released Party, or any of the
Company’s products, processes, experiments, policies, practices, standards of
business conduct, or areas or techniques of research.  Similarly, the
Company, including its employees, agrees not to criticize, denigrate, or
otherwise disparage Dwight.  In the event that a prospective employer
or third-party contacts the Company for a reference about Dwight, the Company
agrees that it will only provide such prospective employer or third-party with
the dates of Dwight’s employment with the Company and the positions he held with
the Company.  Dwight shall direct any such prospective employer to
contact Richard Tusing or Barry Salzman.

       

      6. OTHER REPRESENTATIONS AND
PROMISES.  Dwight and the Company acknowledge and agree as
follows:

       

      (a) The
Company agrees to pay all of Employee’s attorneys’ fees (up to a maximum amount
of Three Thousand Dollars ($3,000)) incurred in connection with the review and
negotiation of this Agreement and all other agreements and/or documents executed
herewith.

       

      (b) This
Agreement is the entire agreement relating to Dwight’s service with the Company
and any claims or future rights that Dwight might have with respect to the
Company and the Released Parties, except for the equity interest agreements
(e.g., Stock Option Agreement and Voting Agreement) described in the attached
Exhibit 6(k),
the Note, the surviving provisions of the Employment Agreement as set forth
herein, the Indemnification Agreement and a Consulting Agreement executed
simultaneously herewith, each of which shall remain in full force and effect in
accordance with their terms.

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (c) Neither
party relied on any representations that were not in this Agreement when
executing this Agreement.

       

      (d) Dwight
has not suffered any job-related wrongs or injuries, such as any type of
discrimination, for which Dwight might still be entitled to compensation or
relief in the future.  Upon the Company’s full payment of the Note and
Dwight’s outstanding business expense reimbursement request(s), which total One
Thousand One Hundred Thirty-Eight and 50/100 Dollars ($1,138.50), Dwight will
have been paid all wages, compensation, benefits, expenses and other amounts
that the Company or any Released Party should have paid Dwight through the date
hereof.

       

      (e) This
Agreement is not an admission of wrongdoing by the Company or any other Released
Party.

       

      (f) Dwight is
intentionally releasing claims that he does not know that he might have and
that, with hindsight, he might regret having released.  Dwight has not
assigned, transferred or otherwise given away any of the claims he is
releasing.

       

      (g) If the
Company or Dwight successfully asserts that any provision in this Agreement is
void, the rest of the Agreement shall remain valid and enforceable unless the
other party to this Agreement elects to cancel it.

       

      (h) If Dwight
initially did not think any representation he is making in this Agreement was
true or if Dwight initially was uncomfortable making it, Dwight resolved all his
doubts and concerns before signing this Agreement.  Dwight has
carefully read this Agreement, fully understands what it means, is entering into
it knowingly and voluntarily, and confirms that all Dwight’s representations in
this Agreement are true.  The consideration period described in the
box above Dwight’s signature started when Dwight first was given this Agreement,
and Dwight waives any right to have it restarted or extended by any subsequent
changes to this Agreement.  The Company would not have given Dwight
the payments or benefits he is getting in exchange for this Agreement but for
his representations and promises he is making by signing it.

       

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (i) Dwight
shall return to the Company all files, memoranda, documents, records, copies of
the foregoing, Company-provided credit cards, keys, building passes, security
passes, access or identification cards, and any other property of the Company or
any Released Party in Dwight’s possession or control; provided, however, that
the Company has requested that Dwight continue to maintain and store certain of
the Company’s business documents, including, but not limited to, the Company’s
key filings, financial documents, and Company contracts (maintained in 25 filing
cabinets at Dwight’s home office) as well as certain of the Company’s prototype
and test equipment until it can arrange for the transfer of these
documents.  The Company agrees that it shall not hold Dwight
personally liable for the maintenance and safekeeping of these documents and the
Company will incur all of the expenses associated with the transfer of these
documents.  Dwight shall keep these documents available to the Company
at all times that these documents are maintained and stored by Dwight (subject
to Dwight’s travel schedule, which will require that he not be physically
present at the home office on a regular basis and, as a result, may require a
reasonable period of time for Dwight to respond to any request(s) by the Company
for documents).  If the Company requests that Dwight store these
documents beyond June 30, 2008, the Company shall pay to Dwight a monthly
storage fee of $1,500 which shall be paid to Dwight on a monthly basis and which
fee shall be prorated for any period of storage of less than twenty-eight (28)
days. Dwight shall clear all expense accounts, repay everything he owes to the
Company or any Released Party, pay all amounts he owes on Company-provided
credit cards or accounts (such as cell phone accounts), and cancel or personally
assume any such credit cards or accounts.  As of the date of the
execution of this Agreement, the parties acknowledge and agree that Dwight does
not owe any such amounts to the Company.  Dwight shall not incur any
expenses, obligations, or liabilities on behalf of the Company.

       

      (j) By
executing this Agreement, Dwight, to the maximum extent permitted by law,
irrevocably assigns to the Company all of his rights to all Subject
Inventions.  “Subject Invention”
means any Invention that was conceived or first practiced by Dwight, alone or in
a joint effort with others, at any time prior to the execution hereof, which (1)
may be reasonably expected to be used in a product of the Company, or a product
similar to a Company product, (2) results from work that Dwight performed as
part of his duties as an employee for the Company, (3) is in an area of
technology which is the same as or substantially related to the areas of
technology with which Dwight was employed during his time as an employee of the
Company, (4) is useful, or which Dwight reasonably expects may be useful, in any
manufacturing or design process of the Company, or (5) utilizes any Confidential
Information or Trade Secrets.  “Invention” means any
discovery, whether or not patentable, including, without limitation, any
process, method, formula, technique, machine, manufacture, composition of
matter, algorithm or computer program, trade secrets, works of authorship, mask
work, circuit, layout, idea, design, know-how and data, as well as improvements
thereto.

       

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (k) Dwight
hereby represents and warrants to the Company that Exhibit 6(k) attached
hereto sets forth a true, correct and complete list of all of the type and
amount of equity interests in the Company owned, directly or indirectly, by
Dwight, including, without limitation, all interests convertible into equity in
the Company, and in the case of the options to acquire shares of the Company’s
capital stock owned, directly or indirectly, by Dwight, the grant date, exercise
price, vesting date, and expiration date of such options, each of which shall
remain in full force and effect in accordance with their respective
terms.

       

      (l) The
Company acknowledges and agrees that it shall immediately take all necessary
steps to change the Company’s general phone number on any public documents,
including any and all SEC filings, which currently lists Dwight’s home office
number.

       

      (m) The
parties agree that they will take all necessary steps to transfer the access to
the Kronos Advanced Bank account from Dwight to Richard Tusing as soon as
practicable, but no later than the Termination Date.

       

      7. MISCELLANEOUS.

       

      (a) No
Waiver.  The failure of any party to this Agreement to enforce
at any time, or for any period of time, any one or more of the terms of this
Agreement shall not be a waiver of such terms or conditions or of such party’s
right thereafter to enforce each and every term and condition of this
Agreement.

       

      (b) Choice of
Law.  This Agreement shall be interpreted and enforced in
accordance with the laws of Massachusetts.

       

      (c) Legal Fees and
Expenses.  In the event that either party brings a lawsuit to
enforce their respective contractual rights under this Agreement, the Promissory
Note, the Indemnification Agreement or the Consulting Agreement, the prevailing
party shall be entitled to recover all legal fees and expenses associated with
prosecuting such claim(s).

       

      (d) No Presumption Against
Drafter.  This Agreement has been drafted through a cooperative
effort by both parties, and neither party shall be considered the drafter of
this Agreement so as to give rise to any presumption or convention regarding
construction of this document.

       

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

         

      

      
        	
                DWIGHT
      MAY NOT MAKE ANY CHANGES TO THE TERMS OF THIS AGREEMENT.  BEFORE
      SIGNING THIS AGREEMENT, DWIGHT SHOULD READ IT CAREFULLY AND, IF
      HE
      CHOOSES, DISCUSS IT WITH HIS ATTORNEY.  DWIGHT
      SHOULD TAKE AS MUCH TIME AS HE NEEDS TO CONSIDER THIS AGREEMENT BEFORE
      DECIDING WHETHER TO SIGN IT, UP TO TWENTY-ONE (21) DAYS.  BY
      SIGNING IT DWIGHT
      WILL BE WAIVING HIS KNOWN AND UNKNOWN CLAIMS.

                 

                MAY
      23, 2008, IS THE DEADLINE FOR DWIGHT
      TO DELIVER A SIGNED COPY OF THIS AGREEMENT TO RICHARD F. TUSING AT 6867
      ELM STREET SUITE 101, MCLEAN, VA, TELEPHONE 1.703.821.1905. IF
      DWIGHT
      FAILS TO DO SO, HE WILL NOT RECEIVE THE PAYMENTS OR BENEFITS DESCRIBED IN
      IT.

                 

                DWIGHT
      MAY REVOKE THIS SETTLEMENT AGREEMENT IF HE REGRETS HAVING SIGNED
      IT.  TO DO SO HE MUST DELIVER A WRITTEN NOTICE OF REVOCATION TO
      RICHARD F. TUSING AT 6867 ELM STREET SUITE 101, MCLEAN, VA, TELEPHONE
      1.703.821.1905, BEFORE SEVEN (7) TWENTY-FOUR (24) HOUR PERIODS EXPIRE FROM
      THE TIME HE SIGNED IT.  IF DWIGHT REVOKES THIS SETTLEMENT
      AGREEMENT, IT WILL NOT GO INTO
EFFECT.

              

      

       

       

      
 

      
        	
                Date: 
      5-16-08

              	
                By: /s/ Daniel R.
      Dwight 

              

      

       

      Daniel R. Dwight

       

      Kronos Advanced Technologies,
Inc.

       

      

      

      
        	
                Date: ____________________

              	
                By: ___________________________________ 

              

      

      Name:    Richard
F. Tusing

      Title:      Chief
Operating Officer

       

      
 

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____ 

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        EXHIBIT
6(k)

        EQUITY
INTERESTS

      

       

      Kronos
Advanced Technologies, Inc. (“Kronos”) Common Stock – 1,201,926
Shares

       

       

      Kronos
Stock Options – 26,000,000 options to purchase 26,000,000 shares of Kronos
Common Stock granted under the Kronos Stock Incentive Plan Stock Option
Agreement dated June 19, 2007.  Stock Options are fully vested and
exercisable at an Exercise Price per Share of $0.016 until the Expiration Date
of June 19, 2017.

      

       

       

      
         

        
          	 	
                  Initial

                  Dwight /s/
      DRD

                  Company
____

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