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EXHIBIT 10.38    
  

 
 

Employment Letter for Martin E. McGough    
  

May 10,
2000 

Mr. Martin
E. McGough

2028 Country Meadows

Grand Junction, CO 81503 

Dear
Marty, 

    I'm
pleased to confirm your promotion to the position of Sr. Vice President, Development and Operations, continuing to report to me as CEO and effective May 3, 2000. 3D Systems
will relocate your family from Grand Junction, CO to the Valencia, CA area in order for you to work out of our corporate offices. 

    Your
annual base salary of $240,000 will be reviewed annually at the time of your performance evaluation. 

    You
will continue to participate in 3D Systems' annual Executive Incentive Plan and your pay-out opportunity, as a percent of base salary, for fiscal year 2000 will be 10%
@ threshold plan achievement (90% of annual revenue goal, plus your other corporate and individual objectives), 30% @ plan achievement (100% of revenue and other goals) and 1X @ stretch achievement
(approximately 122% of revenue and other goals). Earned payment for fiscal year 2000 will be prorated between your former salary of $165,000 and your new salary of $240,000. If you choose to amortize
any part of your base salary for the purpose of purchasing a home in the Valencia area; any earned incentive will be based on your gross salary before amortization. 

    You
will be awarded additional stock options in an amount deemed appropriate for the level of your new responsibility by the Compensation Committee of our Board of Directors. 

    You
and your family will relocate from Grand Junction to the Valencia, California area to accept this position. For this relocation, 3D Systems will pay for: 

	•
	All
costs associated with the purchase of your Colorado residence by a relocation service to be selected, probably Prudential Real Estate Company.

	•
	A
reasonable number of trips to the Valencia area to find and purchase a residence.

	•
	All
normal closing costs (including loan point fees but excluding mortgage interest and property tax pro-rations, repairs and the like) related
to the purchase of a home in the Valencia area.

	•
	The
moving of all household effects to include packing and unpacking and insurance.

	•
	Reimbursement
for actual out-of-pocket miscellaneous expenses incurred for the relocation, such as charges for the connection or
disconnection of appliances and utilities.

	•
	Reasonable
costs to transport your family, vehicles and pets from Grand Junction to the Valencia area.

	•
	Reasonable
temporary living expenses in Valencia, for a period not to exceed one month, for lodging and meals while awaiting the arrival of your household
goods shipment.

	•
	Storage
of household effects for a reasonable period, if needed.

	•
	An
advanced capitalized amount of your new base salary in the amount of up to $100,000 for the purpose of purchasing a residence in the Valencia area. Such
advance will be debited against your base salary over a 5 year period (a $100,000 advance will reduce your paid base salary by $20,000 per year for 5 years). Credited base salary for
annual incentive payment calculation and 

all
other salary related benefits will remain at the full level ($240,000 for year 2000), and will be taxable at that level in each of the five (5) years. 

	•
	All
taxable relocation expenses, for which you are reimbursed, will be reported as taxable income. All taxable relocation reimbursements will be
grossed-up to offset any additional tax liability on your part.

	•
	Should
you resign from 3D Systems or be discharged for cause within one year from the date of receipt of all relocation allowances, the entire allowance
will be refundable to the Company and you agree to repay 3D Systems in full. 

    Marty
I believe this accurately reflects all of the items we have agreed to regarding this new position. If I've missed anything, please bring it to my attention. 

    I'm
delighted with your acceptance of this new role and look forward to continuing to work with you as we achieve our objectives and move the company forward. 

Sincerely,

Brian
Service

President and Chief Executive Officer

3D Systems 

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EXHIBIT 10.38

Employment Letter for Martin E. McGoughPrepared by MERRILL CORPORATION www.edgaradvantage.com

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EXHIBIT 10.39    
  

 
 

Employment Letter for Grant R. Flaharty    
  

May 10,
2000 

Mr. Grant
R. Flaharty

819 271/4 Road

Grand Junction, CO 81506 

Dear
Grant, 

    I'm
pleased to confirm your promotion to the position of Sr. Vice President, Worldwide Marketing and Sales, effective May 3, 2000. You will continue to report directly to me as
CEO and although functionally Europe and Asia/Pacific will report to me, day to day coordination activities will flow through Marketing and Sales. 3D Systems will relocate your family from Grand
Junction, CO to the Valencia, CA area in order for you to work out of our corporate offices. 

    Your
annual base salary of $240,000 will be reviewed annually at the time of your performance evaluation. 

    You
will continue to participate in 3D Systems' annual Executive Incentive Plan and your pay-out opportunity, as a percent of base salary, for fiscal year 2000 will be 10%
@ threshold plan achievement (90% of annual revenue goal, plus your other corporate and individual objectives), 30% @ plan achievement (100% of revenue and other goals) and 1X @ stretch achievement
(approximately 122% of revenue and other goals). Earned payment for fiscal year 2000 will be prorated between your former salary of $165,000 and your new salary of $240,000. If you choose to amortize
any part of your base salary for the purpose of purchasing a home in the Valencia area; any earned incentive will be based on your gross salary before amortization. 

    You
will be awarded additional stock options in an amount deemed appropriate for the level of your new responsibility by the Compensation Committee of our Board of Directors. 

    You
and your family will relocate from Grand Junction to the Valencia, California area to accept this position. For this relocation, 3D Systems will pay for: 

	•
	All
costs associated with the purchase of your Colorado residence by a relocation service to be selected, probably Prudential Real Estate Company.

	•
	A
reasonable number of trips to the Valencia area to find and purchase a residence.

	•
	All
normal closing costs (including loan point fees but excluding mortgage interest and property tax pro-rations, repairs and the like) related
to the purchase of a home in the Valencia area.

	•
	The
moving of all household effects to include packing and unpacking and insurance.

	•
	Reimbursement
for actual out-of-pocket miscellaneous expenses incurred for the relocation, such as charges for the connection or
disconnection of appliances and utilities.

	•
	Reasonable
costs to transport your family, vehicles and pets from Grand Junction to the Valencia area.

	•
	Reasonable
temporary living expenses in Valencia, for a period not to exceed one month, for lodging and meals while awaiting the arrival of your household
goods shipment.

	•
	Storage
of household effects for a reasonable period, if needed.

	•
	An
advanced capitalized amount of your new base salary in the amount of up to $100,000 for the purpose of purchasing a residence in the Valencia area. Such
advance will be debited against your base salary over a 5 year period (a $100,000 advance will reduce your paid base salary by $20,000 per year for 5 years). Credited base salary for
annual incentive payment calculation and 

all
other salary related benefits will remain at the full level ($240,000 for year 2000), and will be taxable at that level in each of the five (5) years. 

	•
	All
taxable relocation expenses, for which you are reimbursed, will be reported as taxable income. All taxable relocation reimbursements will be
grossed-up to offset any additional tax liability on your part.

	•
	Should
you resign from 3D Systems or be discharged for cause within one year from the date of receipt of all relocation allowances, the entire allowance
will be refundable to the Company and you agree to repay 3D Systems in full. 

    Finally,
in the event of your involuntary resignation from 3D Systems, except termination for cause as generally defined by the state of California Labor Laws, or in the event of a
change of control of the company, you will be eligible to receive severance pay in the amount of one (1) year's then current base salary. 

    Grant
I believe this accurately reflects all of the items we have agreed to regarding this new position. If I've missed anything, please bring it to my attention. 

    I'm
delighted with your acceptance of this new role and look forward to continuing to work with you and get 3D back on the growth path. 

Sincerely, 

Brian
Service

President and Chief Executive Officer

3D Systems 

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EXHIBIT 10.39

Employment Letter for Grant R. FlahartyPrepared by MERRILL CORPORATION www.edgaradvantage.com

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EXHIBIT 10.40    
  

August 6,
1993 

CIBA-GEIGY
Limited

CH-1723 Marly 1, Switzerland

Attention: Dr. Max Hunziker: 

R&D Agreement

Dear
Sirs: 

    The
existing modified R&D Agreement shall be further modified as follows: 

Paragraph 1.a) "SL-Process" shall mean the StereoLithography method of 3D, as defined and claimed (i) in the patent or patents
now set forth on Annex A as such patents existed on May 6, 1988, regardless of any subsequent amendments, modifications or limitations thereof; (ii) in any additional patents or patent
applications (while such applications are pending) added to Annex A at the date of the agreement or thereafter by mutual consent of the parties, such consent to be not unreasonably withheld, together
with the documented know-how relating to the claims set forth in such patents or patent applications provided, if such know-how is outside of the claims set out in such patent
on Annex A such documented know-how shall be described on Annex A, or added thereto with the mutual consent of the parties, such consent not to be reasonably withheld; and (iii) any
solid imaging process that uses ink jet technology to dispense any type of initiator or reactive or non-reactive monomer or other solid or solidifying or supporting material that is used
in the formation of three-dimensional objects. 

    The
following U.S. Patents shall be added to Annex A: 

	BI 4,575,330	 	APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	4,929,402	 	METHOD FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	4,996,010	 	METHODS AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	4,999,143	 	METHODS AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,015.424	 	METHODS AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,058,988	 	APPARATUS AND METHOD FOR PROFILING A BEAM
	5,059,021	 	APPARATUS AND METHOD FOR CORRECTING FOR DRIFT IN PRODUCTION OF OBJECTS BY STEREOLITHOGRAPHY
	5,059,359	 	METHODS AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,071,337	 	APPARATUS FOR FORMING A SOLID THREE-DIMENSIONAL ARTICLE FROM A LIQUID MEDIUM (QUADRAX)
	5,076,974	 	METHODS OF CURING PARTIALLY POLYMERIZED PARTS
	5,096,530	 	RESIN FILM RECOATING METHOD AND APPARATUS
	5,104,592	 	METHOD OF AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY WITH REDUCED CURL
	5,123,734	 	APPARATUS AND METHOD FOR CALIBRATING AND NORMALIZING A STEREOLITHOGRAPHIC APPARATUS

 

	5,130,064	 	METHOD OF MAKING A THREE-DIMENSIONAL OBJECT BY STEREOLITHOGRAPHY
	5,133,987	 	STEREOLITHOGRAPHIC APPARATUS AND METHOD
	5,137,662	 	METHOD AND APPARATUS FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,141,680	 	THERMAL STEREOLITHOGRAPHY
	5,143,663	 	STEREOLITHOGRAPHY METHOD AND APPARATUS
	5,164,128	 	METHODS FOR CURING PARTIALLY POLYMERIZED PARTS
	5,174,931	 	METHOD OF AND APPARATUS FOR MAKING A THREE-DIMENSIONAL PRODUCT BY STEREOLITHOGRAPHY
	5,174,943	 	METHOD FOR PRODUCTION OF THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,182,055	 	METHOD OF MAKING A THREE-DIMENSIONAL OBJECT BY STEREOLITHOGRAPHY
	5,182,056	 	STEREOLITHOGRAPHY METHOD AND APPARATUS EMPLOYING VARIOUS PENETRATION DEPTHS
	5,182,715	 	RAPID AND ACCURATE PRODUCTION OF STEREOLITHOGRAPHIC PARTS
	5,184,307	 	METHOD AND APPARATUS FOR PRODUCTION OF HIGH RESOLUTION THREE-DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY
	5,192,469	 	SIMULTANEOUS MULTIPLE LAYER CURING IN STEREOLITHOGRAPHY
	5,192,559	 	APPARATUS FOR BUILDING THREE-DIMENSIONAL OBJECTS WITH SHEETS
	5,209,878	 	SURFACE RESOLUTION IN THREE DIMENSIONAL OBJECTS BY INCLUSION OF THIN FILL LAYERS
	5,234,636	 	METHODS OF COATING STEREOLITHOGRAPHIC PARTS
	5,236,677	 	METHOD AND APPARATUS FOR PRODUCTION OF THREE DIMENSIONAL OBJECTS BY STEREOLITHOGRAPHY

    We envision a continuing successful R&D program; 

Yours
truly, 

	 
	 	 

	/s/
 Charles W. Hull

3D Systems, Inc.	 	/s/
 Arthur B. Sims

3D Systems, Inc.

Agreed and Accepted:. 

CIBA-GEIGY
Limited 

2

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EXHIBIT 10.40

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