Document:

Gotcher Employment Agreement

    Exhibit
      10.1

     

    

    ALTAIR
      EXECUTIVE EMPLOYMENT AGREEMENT

    

    THIS
      EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of February 17, 2006,
      by and between Altair Nanomaterials, Inc., a Nevada corporation (the “Company”),
      Altair Nanotechnologies Inc., a Canadian corporation (“Parent” together with the
      Company and all consolidated subsidiaries of the Parent (the “Consolidated
      Company”)), and Alan Gotcher (“Employee”).

    

     

    RECITALS

    

    A. The
      Company is a wholly-owned subsidiary of Parent and holds substantially all
      of
      the operating assets of the Parent and its consolidated subsidiaries.

    

    B. The
      Company desires to retain Employee as an employee of the Company subject to
      the
      terms and conditions of this Agreement.

    

    C. Employee
      desires to continue his employment with the Company subject to the terms and
      conditions of this Agreement. 

    

    NOW,
      THEREFORE, in consideration of this Agreement and of the covenants and
      conditions contained in this Agreement, the parties hereto agree as
      follows:

     

    1. Employment;
      Location.
      The
      Company hereby employs Employee, and Employee hereby accepts such employment,
      in
      Washoe County in the State of Nevada or in such other location as may be
      mutually agreed between Employee and the Company.

    

    2. Term.
       The
      Company agrees to employ Employee, and Employee agrees to accept employment
      with
      the Company, for the thirty six (36) month period beginning on the date first
      set forth above (the “Term”), unless this Agreement is sooner terminated
      pursuant to the terms of this Agreement. If Employee’s employment with the
      Company continues beyond the Term, the terms of this Agreement will continue
      to
      govern Employee’s employment with the Company. 

    

    3. Duties.
      Employee’s title shall be Chief Executive Officer and President of the Parent
      and of the Company. Employee's duties shall include such duties as are
      specifically assigned or delegated to Employee by the Board of Directors of
      the
      Company and/or the Board of Directors of the Parent (either such Board of
      Directors, the “Board”) and such other duties as are typically performed by an
      employee with the same position as Employee. Employee acknowledges that the
      Board may change, increase or decrease Employee’s title, position and/or duties
      from time to time its discretion. Employee shall diligently execute his or
      her
      duties and shall devote his full time, skills and efforts to such duties during
      ordinary working hours. Employee
      shall faithfully adhere to, execute and fulfill all lawful policies established
      from time to time by the Company. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Compensation
      and Benefits.
      The
      Company shall pay Employee, and Employee accepts as full compensation for all
      services to be rendered to the Consolidated Company, the following compensation
      and benefits:

    

    4.1 Base
      Salary.
      During
      the Term, the Company shall pay Employee an annual base salary per year in
      an
      amount not less than the annual base salary in effect as of December 31, 2005.
      Such annual base salary to be payable in equal installments at least monthly
      by
      the last day of each month or at more frequent intervals in accordance with
      the
      Company's customary pay schedule. During the Term, the base salary of Employee
      shall not be reduced below the minimum required by this Section. The Employee’s
      annual base salary shall be reviewed and adjusted annually for performance
      and
      comparable job compensation as compared to competitive companies as mutually
      agreed by the Board and Employee. If Employee’s employment continues beyond the
      expiration of the Term, Employee’s annual base salary shall be as mutually
      agreed by the Company and Employee.

    

    4.2 Stock
      Options.
      With
      respect to all options to purchase common shares of Parent previously granted
      to
      Employee or granted during the Term (“Options”), unless otherwise agreed in
      writing by Employee in Employer’s discretion, such Option shall be (and hereby
      is) amended to provide that if Employee's employment is terminated by the
      Company without Cause Subsequent to a Change of Control Event pursuant to
      Section 7.4, all such Options shall immediately vest as of the moment before
      the
      effective date of the Change of Control Event. 

    

    4.3 Bonus.
      Employee shall be eligible to receive an annual bonus equal to up to eighty
      percent (80%) of Employee’s base salary as of the last day of the calendar year
      to which such bonus relates upon the achievement of performance measures
      mutually agreed to by Employee and the Board. Employee and the Board shall,
      prior to the end of the first month of each calendar year, negotiate in good
      faith with the objective of agreeing upon performance objectives and related
      bonus amounts for the upcoming fiscal year. In the event that Employee and
      the
      Board are not able to reach such a mutual agreement, the amount of any bonus
      shall be in the discretion of the Board. 

    

    4.4 Additional
      Benefits.
      Employee shall be eligible to participate in, and be subject to, the Company's
      employee benefit plans for, and policies governing, employees, if and when
      any
      such plans and policies may be adopted, including, without limitation, bonus
      plans, pension or profit sharing plans, incentive stock plans, and those plans
      and policies covering life, disability, health, and dental insurance in
      accordance with the rules established in the discretion of the Board for
      individual participation in any such plans and policies as may be in effect
      from
      time to time.

    

    4.5 Vacation,
      Sick Leave, and Holidays.
      Beginning on the date hereof, Employee shall be entitled to vacation, sick
      leave
      and holidays at full pay in accordance with the Company's policy. Employee
      shall
      not be paid for any unused sick leave for which he has been credited.

    

    4.6 Board
      Seat.
      During
      the Term, at any time Employee is not a member of the Board of Directors of
      Parent, Employee shall have the right to notice of meetings of the Board of
      Directors of Parent, the right to attend any meetings of the entire Board of
      Directors of Parent and the right to receive all materials delivered to the
      directors of Parent in connection with such meetings.

    
      
        
        

      

      
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    4.7 Deductions.
      The
      Company shall have the right to deduct from the compensation due to Employee
      hereunder any and all sums required for social security and withholding taxes
      and for any other federal, state or local tax or charge which may be hereafter
      enacted or required by law as a charge on compensation of Employee.

    

    5. Business
      Expenses.
      The
      Company shall promptly reimburse Employee for all reasonable out-of-pocket
      entertainment and business expenses he incurs in fulfilling his duties
      hereunder, in accordance with the general policy of the Consolidated Company
      in
      effect from time to time, provided that Employee furnishes to the Company
      adequate records and other documentary evidence required by the general policy
      of the Consolidated Company and all federal and state statutes and regulations
      issued by the appropriate taxing authorities for the substantiation of each
      such
      business expense as a deduction on the federal or state income tax returns
      of
      the Company.

    

    6. Termination
      of Employee's Employment.
      

    

    6.1 Termination
      of Employment by the Company for Cause.
      Employee's employment may be terminated by the Company at any time for “Cause.”
For purposes of this Agreement, “Cause” shall include (i) Employee’s material
      breach of this Agreement, which breach cannot be cured or, if capable of being
      cured, is not cured within fifteen (15) days after receipt of written notice
      of
      the need to cure, (ii) any act of theft, embezzlement, conversion or other
      taking or misuse of the property or opportunities of the Consolidated Company,
      (iii) any fraudulent or criminal activities, (iv) any grossly negligent or
      unethical activity, (v) any activity that causes substantial harm to the
      Consolidated Company, its reputation, or to its officers, directors or employees
      (including, without limitation, the illegal possession or consumption of drugs
      for which Employee does not have a valid prescription on Consolidated Company
      property or in the course of performing services for the Consolidated Company),
      or (vi) habitual neglect of or deliberate or intentional refusal to perform
      his
      duties and obligations under this Agreement. A determination of whether
      Employee’s actions justify termination for Cause and the date on which such
      termination is effective shall be made in good faith by the Board. A termination
      of Employee's employment pursuant to this Section 6.1 shall be effective as
      of
      the effective date of the notice by the Board to Employee that it has made
      the
      required determination, or as of such subsequent date, if any, as is specified
      in such notice.

    

    6.2 Termination
      by the Company Without Cause.
      Upon
      not less than 15 day's prior written notice, the Company may terminate
      Employee’s employment without Cause. A termination of Employee's employment
      pursuant to this Section 6.2 shall be effective as of the later of (i) 15 days
      after the effective date of the notice to Employee that the Company has elected
      to terminate his employment without Cause pursuant to this Section 6.2, or
      (ii)
      as of such subsequent date, if any, as is specified in such notice.

    

    6.3 Termination
      By Employee For Good Reason.
      Employee may terminate his employment under this Agreement at any time for
      Good
      Reason, provided Employee has delivered a written notice to the Board of
      Directors that briefly describes the facts underlying Employee's belief that
      Good Reason exists and the Company has failed to cure such situation within
      15
      days of its receipt of such notice. For purposes of this Agreement, Good Reason
      shall mean and consist of:

    
      
        
        

      

      
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    (a) a
      material breach by the Company of any of its obligations, duties, agreements,
      representations or warranties under this Agreement; or 

    

    (b) without
      Employee's prior written consent, the transfer or relocation of Employee's
      place
      of employment to any place other than Washoe County, except for reasonable
      travel on the business of the Company. 

    

    6.4 Termination
      by Employee Without Good Reason.
      Upon
      not less than 15 day's prior written notice (which notice shall specify the
      effective date of the termination), Employee may terminate his employment under
      this Agreement by such notice without Good Reason.

    

    6.5 Termination
      of Employment by Death.
      If
      Employee dies during the term of employment, Employee's employment shall be
      terminated effective as of the end of the calendar month during which Employee
      died.

    

    6.6 Disability.
      The
      Company or Employee may terminate Employee's employment under this Agreement
      if
      Employee shall become unable to fulfill his duties under this Agreement for
      a
      period of 90 days, as measured by the Consolidated Company's usual business
      activities, by reason of any medically determinable physical and/or mental
      disability determined in accordance with the procedure in this Section 6.6.
      If
      in the opinion of the Company or Employee, Employee is disabled for such 90
      day
      period, then the following shall occur:

     

    (a) the
      Company or Employee shall promptly so notify (by dated written notice) the
      insurance company or carrier that, at that time, insures the employees of the
      Company against long-term disability (the “Company’s Insurance Carrier”) and
      request a determination as to whether Employee is disabled pursuant to the
      terms
      of the Company's long-term disability plan or policy; and

    

    (b) the
      matter of Employee's disability shall be resolved, and Employee and the Company
      shall abide by the decision of, the Company’s Insurance Carrier.

    

    A
      termination of Employee's employment pursuant to this Section 6.6 shall be
      effective ninety (90) days after the date as of which it is determined, pursuant
      to this Section 6.6, that Employee was disabled. If Employee is not covered
      by a
      Company-sponsored disability policy on the date that the Company and/or Employee
      believe that Employee may have a medically determinable physical and/or mental
      disability, the Board shall make the determination of whether Employee has
      a
      medically determinable physical and/or mental disability using the definition
      of
      disability, including applicable court interpretations, used for purposes of
      the
      Americans With Disabilities Act of 1990, as amended.

    

    
      
        
        

      

      
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    7. Effect
      of Termination of Employee’s Employment.
      

    

    7.1 Provisions
      Applicable to All Terminations.
      In the
      event Employee’s employment is terminated for any reason, (a) not later than 30
      days after the effective date of the termination, all cash compensation
      described in this Agreement that was due through the effective date of the
      termination (or in the case of a termination under Section 6.6, within 30 days
      of the date the Company’s Insurance Carrier makes a disability determination),
      but unpaid, shall be computed and paid to Employee by the Company; and (b)
      Employee, or his heirs, or estate, as the case may be, shall receive all
      compensation and employee benefits accrued through the effective date of the
      termination, and all benefits provided through the Company's insurance plans
      pursuant to the terms and conditions of such insurance plans or that the Company
      is required to provide by governing law.

    

    7.2 Termination
      by Company With Cause or by Employee Without Good Reason.
      If
      Employee's employment is terminated by the Company for Cause pursuant to Section
      6.1, 

    by
      Employee without Good Reason pursuant to Section 6.4 or by either the Company
      or
      Employee after the expiration of the Term, then in such event, Employee shall
      not be entitled to any compensation in addition to that set forth in Section
      7.1.

    

    7.3 Termination
      by Company Without Cause or by Employee for Good Reason.
      If
      Employee's employment is terminated by the Company without Cause pursuant to
      Section 6.2 prior to the expiration of the Term or by Employee for Good Reason
      pursuant to Section 6.3 prior to the expiration of the Term, then, in addition
      to complying with the requirements of Section 7.1, the Company shall, upon
      receipt of a written release from Employee in form and substance reasonably
      satisfactory to the Company with respect to all liabilities arising prior to
      and
      in connection with such termination (other than under Options and this Section),
      continue to pay, when due in accordance with Section 4.1, to or for the benefit
      of Employee or, if applicable, his heirs or estate, as their rights may be,
      one
      hundred percent (100%) of any and all payments of: (i) annual base salary;
      and
      (ii) 100% of the Company health benefits coverage then in effect; and (iii)
      100%
      of the annual bonus through, the period ending on the 12-month anniversary
      of
      the effective date of the termination of Employee's service.

    

    7.4 Termination
      by Company Without Cause Subsequent to Change of Control.
      If
      Employee's employment is terminated by the Company without Cause pursuant to
      Section 6.2 prior to the Expiration of the Term and within ninety (90) days
      prior to and one year after a Change of Control Event then, in addition to
      complying with the requirements of Section 7.1, the Company shall, upon receipt
      of a written release from Employee in form and substance reasonably satisfactory
      to the Company with respect to all liabilities arising prior to and in
      connection with such termination (other than under Options and this Section),
      continue to pay, when due in accordance with Section 4.1, to or for the benefit
      of Employee or, if applicable, his heirs or estate, as their rights may be,
      one
      hundred percent (100%) of any and all payments of: (i) annual base salary;
      and
      (ii) 100% of the Company health benefits coverage then in effect through the
      period ending on the 24-month anniversary of the effective date of the
      termination of Employee's service. A Change of Control Event means (a) any
      capital reorganization, reclassification of the capital stock of Parent,
      consolidation or merger of Parent with another corporation in which Parent
      is
      not the survivor (other than a transaction effective solely for the purpose
      of
      changing the jurisdiction of incorporation of Parent), (b) the sale, transfer
      or
      other disposition of all or substantially all of the Consolidated Company’s
      assets to another entity, (c) the acquisition by a single person (or two or
      more
      persons acting as a group, as a group is defined for purposes of Section
      13(d)(3) under the Securities Exchange Act of 1934, as amended) of more than
      40%
      of the outstanding common shares of Parent. 

    
      
        
        

      

      
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    7.5 Return
      of Company Property.
      Upon
      the termination or end of the employment of Employee with the Consolidated
      Company or at any time upon the request of the Company, Employee shall provide
      to the Consolidated Company all property belonging to the Consolidated Company,
      including, but not limited to, keys, card passes, credit cards, electronic
      equipment including computers and personal digital devices, cellular telephones,
      Consolidated Company automobiles, and all data and Consolidated Company
      intellectual property whether located on Company property or
      otherwise.

     

    8. Covenant
      Not to Compete.

    

    8.1 Covenant.
      Employee hereby agrees that, while he is employed by the Consolidated Company
      and during a period of 12
      months following
      the termination of his employment with the Consolidated Company, Employee will
      not directly or indirectly compete (as defined in Section 8.2 below) with the
      Consolidated Company or its affiliates anywhere in the United States. It is
      the
      intention of the Company and Employee that this provision be interpreted to
      only
      prevent actual competitive harm to the Consolidated Company and not otherwise
      hinder or restrict Employee in his efforts to find continued employment in
      his
      field of training and expertise. 

    

    8.2 Direct
      and Indirect Competition.
      As used
      herein, the phrase “directly or indirectly compete” shall include owning,
      managing, operating or controlling, or participating in the ownership,
      management, operation or control of, or being connected with or having any
      interest in, as a stockholder, director, officer, employee, agent, consultant,
      assistant, advisor, sole proprietor, partner or otherwise, any Competing
      Business (as defined below). For purposes of this Agreement, a “Competing
      Business” shall be any business or enterprise other than the Consolidated
      Company that is engaged in the Nanomaterials Business (as defined below). This
      prohibition, however, shall not apply to ownership of less than five percent
      (5%) of the voting stock in companies whose stock is traded on a national
      securities exchange or in the over-the-counter market. For purposes of this
      Agreement the “Nanomaterials Business” means the development, marketing, use,
      modification or exploitation of any technology or process for the production
      of
      pigments, metals, nanomaterials or other materials from titanium containing
      ores
      and other feed materials for use in any application being explored, considered
      or developed by the Consolidated Company at any time while Employee is employed
      with the Company, including, without limitation, the production of titanium
      dioxide pigments, the production of titanium metals, the production of
      pharmaceutical products or pharmaceutical delivery devices, the production
      of
      lanthanum based phosphate and arsenic binding products, the production of
      battery materials, or the production of thermal spray materials.

    

    The
      Company and the Consolidated Company acknowledge that Employee owns more than
      5%
      and has a working relationship with the following non-public Companies: Alan
      Gotcher & Company Inc., Assure Systems Inc., Idea Springs LLC, and InDelible
      Technologies, Inc., “Gotcher Entities”. The Company and the Consolidated Company
      recognize and acknowledge Employee’s involvement as a passive investor in the
      Gotcher Entities.

    

    
      
        
        

      

      
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    8.3 Nonsolicitation.
      Employee hereby agrees that, while he is employed by the Company pursuant to
      this Agreement, and, during a period of 12
      months
      following the termination of his employment with the Company, he will not,
      directly or indirectly, through an affiliate or otherwise, for his account
      or
      the account of any other person, (a) solicit business substantially similar
      to
      the Nanomaterials Business from any person or entity that at the time of
      termination is or was a customer of a Consolidated Company, whether or not
      he
      had personal contact with such person during and by reason of employment with
      a
      Consolidated Company; (ii) in any manner induce or attempt to induce any
      employee of a Consolidated Company to terminate his or her employment with
      a
      Consolidated Company; or (iii) materially and adversely interfere with the
      relationship between a Consolidated Company and any employee, contractor,
      supplier, customer or shareholder of a Consolidated Company.

    

    8.4 Enforceability.
      If any
      of the provisions of this Section 8 is held unenforceable, the remaining
      provisions shall nevertheless remain enforceable, and the court making such
      determination shall modify, among other things, the scope, duration, or
      geographic area of this Section to preserve the enforceability hereof to the
      maximum extent then permitted by law. In addition, the enforceability of this
      Section is also subject to the injunctive and other equitable powers of a court
      as described in Section 12 below. 

    

    8.5 Jurisdiction.
      For the
      sole purpose of enforcement of the Company’s rights under this Section 8, the
      Company and Employee intend to and hereby confer jurisdiction to enforce the
      restrictions set forth in this Section 8 (the "Restrictions") upon the courts
      of
      any jurisdiction within the geographical scope of the Restrictions. If the
      courts of any one or more of such jurisdictions hold the Restrictions
      unenforceable by reason of the breadth of such scope or otherwise, it is the
      intention of the Company and Employee that such determination not bar or in
      any
      way affect any Consolidated Company's rights to the relief provided above in
      the
      courts of any other jurisdiction within the geographical scope of the
      Restrictions, as to breaches of such covenants in such other respective
      jurisdictions, such covenants as they relate to each jurisdiction being, for
      this purpose, severable into diverse and independent covenants. In the event
      of
      any litigation between the parties under this Section 8, the court shall award
      reasonable attorneys fees to the prevailing party.

    

    9.
       Confidential
      Information.

    

    9.1 Definition.
      The
      term “Confidential Information” shall mean and include any information,
      including a formula, pattern, compilation, program, source code, device, method,
      technique, or process, that (i) derives independent economic value, actual
      or
      potential, from not being generally known to, and not being readily
      ascertainable by proper means by, other persons who can obtain economic value
      from its disclosure or use, and (ii) that is the subject of efforts that are
      reasonable under the circumstance to maintain its secrecy. Information that
      may
      be included in Confidential Information includes matters of a technical nature
      (including know-how, computer programs, software, patented as unpatented
      technology, source-code, accounting methods, and documentation), matters of
      a
      business nature (such as information about contract forms, costs, profits,
      employees, promotional methods, markets, market or marketing plans, sales,
      and
      client accounts), plans for further development, and any other information
      meeting the definition of Confidential Information set forth above.

    
      
        
        

      

      
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    Confidential
      Information includes all proprietary information and know-how of the
      Consolidated Company, whether or not patented, related to the function,
      development, use, marketing, operation or modification of any process owned,
      developed or purchased by the Consolidated Company related to the production
      of
      pigments, metals, nanomaterials or other materials from titanium containing
      ores
      and other feed materials for use in any application presently being explored,
      considered or developed by the Consolidated Company, including, without
      limitation, the production of titanium dioxide pigments, the production of
      titanium metals and the production of pharmaceutical products or pharmaceutical
      delivery devices. Confidential information may also include any such information
      developed by Employee for the Consolidated Company while an employee of the
      Consolidated Company. “Confidential Information” does not include (i)
      information that is in the public domain at the time the information is acquired
      by Employee, or (ii) information that later becomes public through no act or
      omission of Employee or other person subject to a duty to keep such information
      confidential. 

    

    9.2
       Nondisclosure
      and Non-Use of Confidential Information.
      Employee agrees that all files, records (including electronic or digitals
      records), documents, and the like relating to such Confidential Information,
      whether prepared by him or otherwise coming into his possession, shall remain
      the exclusive property of the Consolidated Company, and Employee hereby agrees
      to promptly disclose such Confidential Information to the Consolidated Company
      upon request and hereby assigns to the Consolidated Company any rights which
      he
      may acquire in any Confidential Information. Employee further agrees not to
      disclose or use any Confidential Information, and to use his best efforts to
      prevent the disclosure or use of any Confidential Information either during
      the
      term of his employment or consultancy or at any time thereafter, except as
      may
      be necessary in the ordinary course of performing his duties under this
      Agreement. Upon termination of Employee's employment or consultancy with the
      Consolidated Company for any reason, Employee shall promptly deliver to the
      Consolidated Company all materials, documents, data, equipment, and other
      physical property of any nature containing or pertaining to any Confidential
      Information, and Employee shall not take from the Consolidated Company's
      premises any such material or equipment or any reproduction thereof without
      the
      written consent of the Consolidated Company.

    

    10. Inventions.

    

    10.1 Disclosure
      of Inventions.
      Employee hereby agrees that if he conceives, learns, makes or first reduces
      to
      practice, either alone or jointly with others, any “Employment Invention” (as
      defined in Section 10.3 below) during his employment by the Consolidated
      Company, either as an employee or as a consultant, he will promptly disclose
      such Employment Invention to the Consolidated Company or to any person
      designated by it. 

    

    The
      Company and the Consolidated Company acknowledge that Employee owns more than
      5%
      and has a working relationship with the following non-public Companies: Alan
      Gotcher & Company Inc., Assure Systems Inc., Idea Springs LLC, and InDelible
      Technologies, Inc., “Gotcher Entities”. The Company and the Consolidated Company
      recognize and acknowledge Employee’s involvement as a passive investor in the
      Gotcher Entities.

    
      
        
        

      

      
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    10.2 Ownership,
      Assignment, Assistance, and Power of Attorney.
      All
      Employment Inventions (as defined in Section 10.3 below) shall be the sole
      and
      exclusive property of the Consolidated Company, and the Consolidated Company
      shall have the right to use and to apply for patents, copyrights, or other
      statutory or common law protection for such Employment Inventions in any
      country. Employee hereby assigns to the Consolidated Company any rights which
      he
      may acquire in such Employment Inventions. Furthermore, Employee agrees to
      assist the Consolidated Company in every proper way at the Consolidated
      Company's expense to obtain patents, copyrights, and other statutory common
      law
      protections for such Employment Inventions in any country and to enforce such
      rights from time to time. Specifically, Employee agrees to execute all documents
      as the Consolidated Company may desire for use in applying for and in obtaining
      or enforcing such patents, copyrights, and other statutory or common law
      protections together with any assignments thereof to the Consolidated Company
      or
      to any person designated by the Company. Employee's obligations under this
      Section 10 shall continue beyond the termination of his employment under this
      Agreement, but the Consolidated Company shall compensate Employee at a rate
      agreed upon by Employee and the Consolidated Company pursuant to negotiations
      in
      good faith after such termination for the time which Employee actually spends
      at
      the Consolidated Company's request in rendering such assistance. 

    

    10.3 Employment
      Inventions.
      The
      definition of Employment Invention as used in this Section 10 is as
      follows:

    

    “Employment
      Invention” means any invention or part thereof conceived, developed, reduced to
      practice, or created by an employee which is:

    

    (a) conceived,
      developed, reduced to practice, or created by the employee:

    

    (i) within
      the scope of his employment;

    

    (ii) on
      his
      employer's time; or

    

    (iii) with
      the
      aid, assistance, or use of any of his employer's property, equipment,
      facilities, supplies, resources, or intellectual property;

    

    (b) the
      result of any work, services, or duties performed by an employee for his
      employer;

    

    (c) related
      to the industry or trade of the employer; or

    

    (d) related
      to the current or demonstrably anticipated business, research, or development
      of
      the employer.

    

    10.4 Exclusion
      of Prior Inventions.
      Exhibit
      A
      attached
      hereto is a complete list by Employee of all inventions which Employee has
      conceived, learned, made or first reduced to practice, either alone or jointly
      with others, prior to or during his employment with the Company and which he
      desires to exclude from the operation of this Agreement. If no inventions are
      listed on this Exhibit
      A,
      Employee represents that he has made no such inventions at the time of signing
      this Agreement. The Company hereby acknowledges and agrees that, for all
      purposes of this Agreement, none of the inventions listed on Exhibit
      A
      shall be
      treated as Employment Inventions hereunder.

    
      
        
        

      

      
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    10.5 Inventions
      of Third Parties.
      Employee shall not disclose to the Consolidated Company, use in the course
      of
      his employment, or incorporate into the Consolidated Company's products or
      processes any confidential or proprietary information or inventions that belong
      to a third party, unless the Consolidated Company has received authorization
      from such third party.

     

    11. No
      Conflicts.
       Employee
      hereby represents that his performance of all the terms of this Agreement and
      his work as an employee of the Company does not breach any oral or written
      agreement which he has made prior to his employment with the
      Company.

    

    12. Equitable
      Remedies.
       Employee
      acknowledges and agrees that the breach or threatened breach by him of certain
      provisions of this Agreement, including without limitation Sections 8, 9, and
      10
      above, would cause irreparable harm to the Consolidated Company for which
      damages at law would be an inadequate remedy. Accordingly, Employee hereby
      agrees that in any such instance the Company shall be entitled to seek (without
      prior mediation or arbitration) injunctive or other equitable relief in any
      state or federal court within or without the State of Nevada in addition to
      any
      other remedy to which it may be entitled. Employee hereby submits to the
      jurisdiction of any courts within the City of Reno in the State of Nevada and
      agrees not to assert such venue is inconvenient. 

    

    13. Assignment.
      This
      Agreement is for the unique personal services of Employee and is not assignable
      or delegable in whole or in part by Employee without the consent of the Board.
      This Agreement may not be assigned or delegated in whole or in part by the
      Company without the written consent of Employee; provided, however, this
      Agreement may be assigned by the Company without Employee’s prior written
      consent if such assignment is made to an entity acquiring substantially all
      of
      the business or assets of the Company.

    

    14. Waiver
      or Modification.
      Any
      waiver, modification, or amendment of any provision of this Agreement shall
      be
      effective only if in writing in a document that specifically refers to this
      Agreement and such document is signed by the parties hereto.

    

    15. 
      Entire Agreement.
      This
      Agreement constitutes the full and complete understanding and agreement of
      the
      parties hereto with respect to the subject matter covered herein and supersedes
      all prior oral or written understandings and agreements with respect
      thereto.
      This
      Agreement supersedes, replaces and effects the termination of the Executive
      Employment Agreement effective August 16, 2004 between Employee and Altair.
      

    

    16. Severability.
      If any
      provision of this Agreement is found to be unenforceable by a court of competent
      jurisdiction, the remaining provisions shall nevertheless remain in full force
      and effect.

    

    17. Attorneys’
      Fees.
      Should
      any Company, Parent or Employee default in any of the covenants contained in
      this Agreement, or in the event a dispute shall arise as to the meaning of
      any
      term of this Agreement, the defaulting or nonprevailing party shall pay all
      costs and expenses, including reasonable attorneys’ fees, that may arise or
      accrue from enforcing this Agreement, securing an interpretation of any
      provision of this Agreement, or in pursuing any remedy provided by applicable
      law whether such remedy is pursued or interpretation is sought by the filing
      of
      a lawsuit, an appeal, or otherwise.

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    18. Confidentiality.
      Each of
      the parties acknowledges that the common shares of Parent are registered under
      the Securities Exchange Act of 1934, as amended, and a result, the Company
      may
      be required to, and hereby has authorization to, file this Agreement or any
      amendment hereto with the Securities and Exchange Commission without requesting
      confidential treatment for any portion hereof. 

    

    19. Notices.
      Any
      notice required hereunder to be given by either party shall be in writing and
      shall be delivered personally or sent by certified or registered mail, postage
      prepaid, or by private courier, with written verification of delivery, or by
      facsimile or other electronic transmission to the other party to the address
      or
      facsimile number set forth below or to such other address or facsimile number
      as
      either party may designate from time to time according to this provision. A
      notice delivered personally or by facsimile or electronic transmission shall
      be
      effective upon receipt. A notice delivered by mail or by private courier shall
      be effective on the third day after the day of mailing:

    

    
      	 	
              (a)

            	
              To
                Employee at:

            	
              Alan
                J. Gotcher

            
	 	 	 	
              930
                Tahoe Blvd., Suite 802

            
	 	 	 	
              Incline
                Village, NV 89451

            
	 	 	 	
              Facsimile
                No: (775) 833 0938

            
	 	 	 	 
	 	 	 	 
	 	
              (b)

            	
              To
                the Company at:

            	
              Altair
                Nanotechnologies Inc.

            
	 	 	 	
              204
                Edison Way

            
	 	 	 	
              Reno,
                Nevada 89502

            
	 	 	 	
              Facsimile
                No: (775) 856-1619

            

    

    

    20. Disputes;
      Governing Law; Arbitration.
      

    

    (a) Except
      as
      provided in Section 12 and Section 8.5, any dispute concerning the
      interpretation or construction of this Agreement or his employment or service
      with Company, shall be resolved by confidential mediation or binding arbitration
      in Reno, Nevada. The parties shall first attempt mediation with a neutral
      mediator agreed upon by the parties. If mediation is unsuccessful or if the
      parties are unable to agree upon a mediator, the dispute shall be submitted
      to
      arbitration pursuant to the procedures of the American Arbitration Association
      (“AAA”) or other procedures agreed to by the parties. All arbitration
      proceedings shall be conducted by a neutral arbitrator mutually agreed upon
      by
      the parties from a list provided by AAA. The decision of the arbitrator shall
      be
      final and binding on all parties. The costs of mediation and arbitration shall
      be borne equally by the parties. 

    

    (b) This
      Agreement shall be construed in accordance with and governed by the statutes
      and
      common law of the State of Nevada. To the extent this Agreement expressly
      permits any dispute to be resolved other than through arbitration or mediation,
      the exclusive venue for any such action shall be the state and federal courts
      located in Reno, Nevada, and the parties each hereby submit to the jurisdiction
      of such courts for purposes of this Agreement.

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    21. Counterparts;
      Facsimile.
      This
      Agreement may be executed in multiple counterparts, all of which taken together
      shall form a single Agreement. A facsimile copy of this Agreement or any
      counterpart thereto shall be valid as an original.

    

    [intentionally
      left blank; signature page follows]

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, Employee has signed this Altair Executive Employment Agreement
      personally and the Company and Parent have caused this Agreement to be executed
      by their duly authorized representatives.

    

    
      	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              COMPANY:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              ALTAIR
                NANOMATERIALS, INC. 

            
	 	 	 	 	 	 	
              a
                Nevada corporation 

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              By:
                ___________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Name:
                _________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Title:
                __________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              PARENT:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              ALTAIR
                NANOTECHNOLOGIES INC. 

            
	 	 	 	 	 	 	
              a
                Canadian corporation 

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              By:
                ___________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Name:
                _________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Title:
                __________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              EMPLOYEE:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              _______________________________________

            
	 	 	 	 	 	 	
              Alan
                Gotcher, an individual 

            

    

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    PRIOR
      INVENTIONS AND TRADEMARKS

    

    

    
      	 	
              1.

            	
              “The
                S/Mark®
                Message Code System”

            

    

    

    
      	 	
              2.

            	
              Low
                Cost theft detection products comprising information based two-
                dimensional bar codes with a passive tag, alarm activation
                system.

            

    

    

    
      	 	
              3.

            	
              Invisible
                ink, non-visible transfer tape printing, human and machine readable
                marking and imaging product technology
                systems.

            

    

    

    
      	 	
              4.

            	
              Woven
                label product that incorporate invisible, two dimensional bar codes
                which
                contains the S/Mark ® Message Code system.

            

    

    

    
      	 	
              5.

            	
              Invisible
                Inkjet printing ink

            

    

    

    
      	 	
              6.

            	
              InGeniusTM
                Invisible Ink Bar Code Reading
                Systems

            

    

    

    
      	 	
              7.

            	
              The
                Secure Logistic CompanySM 

            

    

    

    
      	 	
              8.

            	
              InDelibleTM

            

    

     

     

    14Dickinson Employment Agreement

    Exhibit
      10.2

    

    ALTAIR
      EXECUTIVE EMPLOYMENT AGREEMENT

    

    THIS
      EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of February 17, 2006,
      by and between Altair Nanomaterials, Inc., a Nevada corporation (the “Company”),
      Altair Nanotechnologies Inc., a Canadian corporation (“Parent” together with the
      Company and all consolidated subsidiaries of the Parent (the “Consolidated
      Company”)), and Edward Dickinson (“Employee”).

    

     

    RECITALS

    

    A. The
      Company is a wholly-owned subsidiary of Parent and holds substantially all
      of
      the operating assets of the Parent and its consolidated subsidiaries.

    

    B. The
      Company desires to retain Employee as an employee of the Company subject to
      the
      terms and conditions of this Agreement.

    

    C. Employee
      desires to continue his employment with the Company subject to the terms and
      conditions of this Agreement. 

    

    NOW,
      THEREFORE, in consideration of this Agreement and of the covenants and
      conditions contained in this Agreement, the parties hereto agree as
      follows:

    

    

    1. Employment;
      Location.
      The
      Company hereby employs Employee, and Employee hereby accepts such employment,
      in
      Washoe County in the State of Nevada or in such other location as may be
      mutually agreed between Employee and the Company.

    

    2. Term.
       The
      Company agrees to employ Employee, and Employee agrees to accept employment
      with
      the Company, for the twenty-four (24) month period beginning on the date first
      set forth above (the “Term”), unless this Agreement is sooner terminated
      pursuant to the terms of this Agreement. If Employee’s employment with the
      Company continues beyond the Term, the terms of this Agreement will continue
      to
      govern Employee’s employment with the Company. 

    

    3. Duties.
      Employee’s title shall be Chief Financial Officer of the Parent. Employee's
      duties shall include such duties as are specifically assigned or delegated
      to
      Employee by the Board of Directors of the Company and/or the Board of Directors
      of the Parent (either such Board of Directors, the “Board”) and such other
      duties as are typically performed by an employee with the same position as
      Employee. Employee acknowledges that the Board may change, increase or decrease
      Employee’s title, position and/or duties from time to time its discretion.
      Employee shall diligently execute his or her duties and shall devote his full
      time, skills and efforts to such duties during ordinary working
      hours. Employee
      shall faithfully adhere to, execute and fulfill all lawful policies established
      from time to time by the Company. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Compensation
      and Benefits.
      The
      Company shall pay Employee, and Employee accepts as full compensation for all
      services to be rendered to the Consolidated Company, the following compensation
      and benefits:

    

    4.1 Base
      Salary.
      During
      the Term, the Company shall pay Employee an annual base salary per year in
      an
      amount not less than the annual base salary in effect as of December 31, 2005.
      Such annual base salary to be payable in equal installments at least monthly
      by
      the last day of each month or at more frequent intervals in accordance with
      the
      Company's customary pay schedule. During the Term, the base salary of Employee
      shall not be reduced below the minimum required by this Section. If Employee’s
      employment continues beyond the expiration of the Term, Employee’s annual base
      salary shall be as mutually agreed by the Company and Employee.

    

    4.2 Stock
      Options.
      With
      respect to all options to purchase common shares of Parent previously granted
      to
      Employee or granted during the Term (“Options”), unless otherwise agreed in
      writing by Employee in Employer’s discretion, such Option shall be (and hereby
      is) amended to provide that if Employee's employment is terminated by the
      Company without Cause Subsequent to a Change of Control Event pursuant to
      Section 7.4, all such Options shall immediately vest as of the moment before
      the
      effective date of the Change of Control Event. 

    

    4.3 Bonus.
      Employee shall be eligible to receive an annual bonus equal to up to sixty
      percent (60%) of Employee’s base salary as of the last day of the calendar year
      to which such bonus relates upon the achievement of performance measures
      mutually agreed to by Employee and the Board. Employee and the Board shall,
      prior to the end of the first month of each calendar year, negotiate in good
      faith with the objective of agreeing upon performance objectives and related
      bonus amounts for the upcoming fiscal year. In the event that Employee and
      the
      Board are not able to reach such a mutual agreement, the amount of any bonus
      shall be in the discretion of the Board. 

    

    4.4 Additional
      Benefits.
      Employee shall be eligible to participate in, and be subject to, the Company's
      employee benefit plans for, and policies governing, employees, if and when
      any
      such plans and policies may be adopted, including, without limitation, bonus
      plans, pension or profit sharing plans, incentive stock plans, and those plans
      and policies covering life, disability, health, and dental insurance in
      accordance with the rules established in the discretion of the Board for
      individual participation in any such plans and policies as may be in effect
      from
      time to time.

    

    4.5 Vacation,
      Sick Leave, and Holidays.
      Beginning on the date hereof, Employee shall be entitled to vacation, sick
      leave
      and holidays at full pay in accordance with the Company's policy. Employee
      shall
      not be paid for any unused sick leave for which he has been credited.

    

    4.6 [intentionally
      omitted] 

    

    4.7 Deductions.
      The
      Company shall have the right to deduct from the compensation due to Employee
      hereunder any and all sums required for social security and withholding taxes
      and for any other federal, state or local tax or charge which may be hereafter
      enacted or required by law as a charge on compensation of
      Employee.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    5. Business
      Expenses.
      The
      Company shall promptly reimburse Employee for all reasonable out-of-pocket
      entertainment and business expenses he incurs in fulfilling his duties
      hereunder, in accordance with the general policy of the Consolidated Company
      in
      effect from time to time, provided that Employee furnishes to the Company
      adequate records and other documentary evidence required by the general policy
      of the Consolidated Company and all federal and state statutes and regulations
      issued by the appropriate taxing authorities for the substantiation of each
      such
      business expense as a deduction on the federal or state income tax returns
      of
      the Company.

    

    6. Termination
      of Employee's Employment.
      

    

    6.1 Termination
      of Employment by the Company for Cause.
      Employee's employment may be terminated by the Company at any time for “Cause.”
For purposes of this Agreement, “Cause” shall include (i) Employee’s material
      breach of this Agreement, which breach cannot be cured or, if capable of being
      cured, is not cured within fifteen (15) days after receipt of written notice
      of
      the need to cure, (ii) any act of theft, embezzlement, conversion or other
      taking or misuse of the property or opportunities of the Consolidated Company,
      (iii) any fraudulent or criminal activities, (iv) any grossly negligent or
      unethical activity, (v) any activity that causes substantial harm to the
      Consolidated Company, its reputation, or to its officers, directors or employees
      (including, without limitation, the illegal possession or consumption of drugs
      for which Employee does not have a valid prescription on Consolidated Company
      property or in the course of performing services for the Consolidated Company),
      or (vi) habitual neglect of or deliberate or intentional refusal to perform
      his
      duties and obligations under this Agreement. A determination of whether
      Employee’s actions justify termination for Cause and the date on which such
      termination is effective shall be made in good faith by the Board. A termination
      of Employee's employment pursuant to this Section 6.1 shall be effective as
      of
      the effective date of the notice by the Board to Employee that it has made
      the
      required determination, or as of such subsequent date, if any, as is specified
      in such notice.

    

    6.2 Termination
      by the Company Without Cause.
      Upon
      not less than 15 day's prior written notice, the Company may terminate
      Employee’s employment without Cause. A termination of Employee's employment
      pursuant to this Section 6.2 shall be effective as of the later of (i) 15 days
      after the effective date of the notice to Employee that the Company has elected
      to terminate his employment without Cause pursuant to this Section 6.2, or
      (ii)
      as of such subsequent date, if any, as is specified in such notice.

    

    6.3 Termination
      By Employee For Good Reason.
      Employee may terminate his employment under this Agreement at any time for
      Good
      Reason, provided Employee has delivered a written notice to the Board of
      Directors that briefly describes the facts underlying Employee's belief that
      Good Reason exists and the Company has failed to cure such situation within
      15
      days of its receipt of such notice. For purposes of this Agreement, Good Reason
      shall mean and consist of:

    

    (a) a
      material breach by the Company of any of its obligations, duties, agreements,
      representations or warranties under this Agreement; or 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (b) without
      Employee's prior written consent, the transfer or relocation of Employee's
      place
      of employment to any place other than Washoe County, except for reasonable
      travel on the business of the Company. 

    

    6.4 Termination
      by Employee Without Good Reason.
      Upon
      not less than 15 day's prior written notice (which notice shall specify the
      effective date of the termination), Employee may terminate his employment under
      this Agreement by such notice without Good Reason.

    

    6.5 Termination
      of Employment by Death.
      If
      Employee dies during the term of employment, Employee's employment shall be
      terminated effective as of the end of the calendar month during which Employee
      died.

    

    6.6 Disability.
      The
      Company or Employee may terminate Employee's employment under this Agreement
      if
      Employee shall become unable to fulfill his duties under this Agreement for
      a
      period of 90 days, as measured by the Consolidated Company's usual business
      activities, by reason of any medically determinable physical and/or mental
      disability determined in accordance with the procedure in this Section 6.6.
      If
      in the opinion of the Company or Employee, Employee is disabled for such 90
      day
      period, then the following shall occur:

     

    (a) the
      Company or Employee shall promptly so notify (by dated written notice) the
      insurance company or carrier that, at that time, insures the employees of the
      Company against long-term disability (the “Company’s Insurance Carrier”) and
      request a determination as to whether Employee is disabled pursuant to the
      terms
      of the Company's long-term disability plan or policy; and

    

    (b) the
      matter of Employee's disability shall be resolved, and Employee and the Company
      shall abide by the decision of, the Company’s Insurance Carrier.

    

    A
      termination of Employee's employment pursuant to this Section 6.6 shall be
      effective ninety (90) days after the date as of which it is determined, pursuant
      to this Section 6.6, that Employee was disabled. If Employee is not covered
      by a
      Company-sponsored disability policy on the date that the Company and/or Employee
      believe that Employee may have a medically determinable physical and/or mental
      disability, the Board shall make the determination of whether Employee has
      a
      medically determinable physical and/or mental disability using the definition
      of
      disability, including applicable court interpretations, used for purposes of
      the
      Americans With Disabilities Act of 1990, as amended.

    

    7. Effect
      of Termination of Employee’s Employment.
      

    

    7.1 Provisions
      Applicable to All Terminations.
      In the
      event Employee’s employment is terminated for any reason, (a) not later than 30
      days after the effective date of the termination, all cash compensation
      described in this Agreement that was due through the effective date of the
      termination (or in the case of a termination under Section 6.6, within 30 days
      of the date the Company’s Insurance Carrier makes a disability determination),
      but unpaid, shall be computed and paid to Employee by the Company; and (b)
      Employee, or his heirs, or estate, as the case may be, shall receive all
      compensation and employee benefits accrued through the effective date of the
      termination, and all benefits provided through the Company's insurance plans
      pursuant to the terms and conditions of such insurance plans or that the Company
      is required to provide by governing law.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    7.2 Termination
      by Company With Cause or by Employee Without Good Reason.
      If
      Employee's employment is terminated by the Company for Cause pursuant to Section
      6.1, 

    by
      Employee without Good Reason pursuant to Section 6.4 or by either the Company
      or
      Employee after the expiration of the Term, then in such event, Employee shall
      not be entitled to any compensation in addition to that set forth in Section
      7.1.

    

    7.3 Termination
      by Company Without Cause or by Employee for Good Reason.
      If
      Employee's employment is terminated by the Company without Cause pursuant to
      Section 6.2 prior to the expiration of the Term or by Employee for Good Reason
      pursuant to Section 6.3 prior to the expiration of the Term, then, in addition
      to complying with the requirements of Section 7.1, the Company shall, upon
      receipt of a written release from Employee in form and substance reasonably
      satisfactory to the Company with respect to all liabilities arising prior to
      and
      in connection with such termination (other than under Options and this Section),
      continue to pay, when due in accordance with Section 4.1, to or for the benefit
      of Employee or, if applicable, his heirs or estate, as their rights may be,
      one
      hundred percent (100%) of any and all payments of: (i) annual base salary;
      and
      (ii) 100% of the Company health benefits coverage then in effect (with Company
      /Employee contributions remaining the same as during the period immediately
      prior to termination), in each case through the period ending on the 12-month
      anniversary of the effective date of the termination of Employee's
      service.

    

    7.4 Termination
      by Company Without Cause Subsequent to Change of Control.
      If
      Employee's employment is terminated by the Company without Cause pursuant to
      Section 6.2 prior to the Expiration of the Term and within ninety (90) days
      prior to and one year after a Change of Control Event then, in addition to
      complying with the requirements of Section 7.1, the Company shall, upon receipt
      of a written release from Employee in form and substance reasonably satisfactory
      to the Company with respect to all liabilities arising prior to and in
      connection with such termination (other than under Options and this Section),
      continue to pay, when due in accordance with Section 4.1, to or for the benefit
      of Employee or, if applicable, his heirs or estate, as their rights may be,
      one
      hundred percent (100%) of any and all payments of: (i) annual base salary;
      and
      (ii) 100% of the Company health benefits coverage then in effect (with Company
      /Employee contributions remaining the same as during the period immediately
      prior to termination), in each case through the period ending on the 18-month
      anniversary of the effective date of the termination of Employee's service.
      A
      Change of Control Event means (a) any capital reorganization, reclassification
      of the capital stock of Parent, consolidation or merger of Parent with another
      corporation in which Parent is not the survivor (other than a transaction
      effective solely for the purpose of changing the jurisdiction of incorporation
      of Parent), (b) the sale, transfer or other disposition of all or substantially
      all of the Consolidated Company’s assets to another entity, (c) the acquisition
      by a single person (or two or more persons acting as a group, as a group is
      defined for purposes of Section 13(d)(3) under the Securities Exchange Act
      of
      1934, as amended) of more than 40% of the outstanding common shares of Parent.
      

    

    7.5 Return
      of Company Property.
      Upon
      the termination or end of the employment of Employee with the Consolidated
      Company or at any time upon the request of the Company, Employee shall provide
      to the Consolidated Company all property belonging to the Consolidated Company,
      including, but not limited to, keys, card passes, credit cards, electronic
      equipment including computers and personal digital devices, cellular telephones,
      Consolidated Company automobiles, and all data and Consolidated Company
      intellectual property whether located on Company property or
      otherwise.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    8. Covenant
      Not to Compete.

    

    8.1 Covenant.
      Employee hereby agrees that, while he is employed by the Consolidated Company
      and during a period of 24
      months following
      the termination of his employment with the Consolidated Company, Employee will
      not directly or indirectly compete (as defined in Section 8.2 below) with the
      Consolidated Company or its affiliates anywhere in the United States. It is
      the
      intention of the Company and Employee that this provision be interpreted to
      only
      prevent actual competitive harm to the Consolidated Company and not otherwise
      hinder or restrict Employee in his efforts to find continued employment in
      his
      field of training and expertise. 

    

    8.2 Direct
      and Indirect Competition.
      As used
      herein, the phrase “directly or indirectly compete” shall include owning,
      managing, operating or controlling, or participating in the ownership,
      management, operation or control of, or being connected with or having any
      interest in, as a stockholder, director, officer, employee, agent, consultant,
      assistant, advisor, sole proprietor, partner or otherwise, any Competing
      Business (as defined below). For purposes of this Agreement, a “Competing
      Business” shall be any business or enterprise other than the Consolidated
      Company that is engaged in the Nanomaterials Business (as defined below). This
      prohibition, however, shall not apply to ownership of less than five percent
      (5%) of the voting stock in companies whose stock is traded on a national
      securities exchange or in the over-the-counter market. For purposes of this
      Agreement the “Nanomaterials Business” means the development, marketing, use,
      modification or exploitation of any technology or process for the production
      of
      pigments, metals, nanomaterials or other materials from titanium containing
      ores
      and other feed materials for use in any application being explored, considered
      or developed by the Consolidated Company at any time while Employee is employed
      with the Company, including, without limitation, the production of titanium
      dioxide pigments, the production of titanium metals, the production of
      pharmaceutical products or pharmaceutical delivery devices, the production
      of
      lanthanum based phosphate and arsenic binding products, the production of
      battery materials, or the production of thermal spray materials.

    

    8.3 Nonsolicitation.
      Employee hereby agrees that, while he is employed by the Company pursuant to
      this Agreement, and, during a period of 24
      months
      following the termination of his employment with the Company, he will not,
      directly or indirectly, through an affiliate or otherwise, for his account
      or
      the account of any other person, (a) solicit business substantially similar
      to
      the Nanomaterials Business from any person or entity that at the time of
      termination is or was a customer of a Consolidated Company, whether or not
      he
      had personal contact with such person during and by reason of employment with
      a
      Consolidated Company; (ii) in any manner induce or attempt to induce any
      employee of a Consolidated Company to terminate his or her employment with
      a
      Consolidated Company; or (iii) materially and adversely interfere with the
      relationship between a Consolidated Company and any employee, contractor,
      supplier, customer or shareholder of a Consolidated Company.

    

    8.4 Enforceability.
      If any
      of the provisions of this Section 8 is held unenforceable, the remaining
      provisions shall nevertheless remain enforceable, and the court making such
      determination shall modify, among other things, the scope, duration, or
      geographic area of this Section to preserve the enforceability hereof to the
      maximum extent then permitted by law. In addition, the enforceability of this
      Section is also subject to the injunctive and other equitable powers of a court
      as described in Section 12 below. 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    8.5 Jurisdiction.
      For the
      sole purpose of enforcement of the Company’s rights under this Section 8, the
      Company and Employee intend to and hereby confer jurisdiction to enforce the
      restrictions set forth in this Section 8 (the "Restrictions") upon the courts
      of
      any jurisdiction within the geographical scope of the Restrictions. If the
      courts of any one or more of such jurisdictions hold the Restrictions
      unenforceable by reason of the breadth of such scope or otherwise, it is the
      intention of the Company and Employee that such determination not bar or in
      any
      way affect any Consolidated Company's rights to the relief provided above in
      the
      courts of any other jurisdiction within the geographical scope of the
      Restrictions, as to breaches of such covenants in such other respective
      jurisdictions, such covenants as they relate to each jurisdiction being, for
      this purpose, severable into diverse and independent covenants. In the event
      of
      any litigation between the parties under this Section 8, the court shall award
      reasonable attorneys fees to the prevailing party.

    

    9.
       Confidential
      Information.

    

    9.1 Definition.
      The
      term “Confidential Information” shall mean and include any information,
      including a formula, pattern, compilation, program, source code, device, method,
      technique, or process, that (i) derives independent economic value, actual
      or
      potential, from not being generally known to, and not being readily
      ascertainable by proper means by, other persons who can obtain economic value
      from its disclosure or use, and (ii) that is the subject of efforts that are
      reasonable under the circumstance to maintain its secrecy. Information that
      may
      be included in Confidential Information includes matters of a technical nature
      (including know-how, computer programs, software, patented as unpatented
      technology, source-code, accounting methods, and documentation), matters of
      a
      business nature (such as information about contract forms, costs, profits,
      employees, promotional methods, markets, market or marketing plans, sales,
      and
      client accounts), plans for further development, and any other information
      meeting the definition of Confidential Information set forth above. Confidential
      Information includes all proprietary information and know-how of the
      Consolidated Company, whether or not patented, related to the function,
      development, use, marketing, operation or modification of any process owned,
      developed or purchased by the Consolidated Company related to the production
      of
      pigments, metals, nanomaterials or other materials from titanium containing
      ores
      and other feed materials for use in any application presently being explored,
      considered or developed by the Consolidated Company, including, without
      limitation, the production of titanium dioxide pigments, the production of
      titanium metals and the production of pharmaceutical products or pharmaceutical
      delivery devices. Confidential information may also include any such information
      developed by Employee for the Consolidated Company while an employee of the
      Consolidated Company. “Confidential Information” does not include (i)
      information that is in the public domain at the time the information is acquired
      by Employee, or (ii) information that later becomes public through no act or
      omission of Employee or other person subject to a duty to keep such information
      confidential. 

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    9.2
       Nondisclosure
      and Non-Use of Confidential Information.
      Employee agrees that all files, records (including electronic or digitals
      records), documents, and the like relating to such Confidential Information,
      whether prepared by him or otherwise coming into his possession, shall remain
      the exclusive property of the Consolidated Company, and Employee hereby agrees
      to promptly disclose such Confidential Information to the Consolidated Company
      upon request and hereby assigns to the Consolidated Company any rights which
      he
      may acquire in any Confidential Information. Employee further agrees not to
      disclose or use any Confidential Information, and to use his best efforts to
      prevent the disclosure or use of any Confidential Information either during
      the
      term of his employment or consultancy or at any time thereafter, except as
      may
      be necessary in the ordinary course of performing his duties under this
      Agreement. Upon termination of Employee's employment or consultancy with the
      Consolidated Company for any reason, Employee shall promptly deliver to the
      Consolidated Company all materials, documents, data, equipment, and other
      physical property of any nature containing or pertaining to any Confidential
      Information, and Employee shall not take from the Consolidated Company's
      premises any such material or equipment or any reproduction thereof without
      the
      written consent of the Consolidated Company.

    

    10. Inventions.

    

    10.1 Disclosure
      of Inventions.
      Employee hereby agrees that if he conceives, learns, makes or first reduces
      to
      practice, either alone or jointly with others, any “Employment Invention” (as
      defined in Section 10.3 below) during his employment by the Consolidated
      Company, either as an employee or as a consultant, he will promptly disclose
      such Employment Invention to the Consolidated Company or to any person
      designated by it. 

    

    10.2 Ownership,
      Assignment, Assistance, and Power of Attorney.
      All
      Employment
      Inventions (as defined in Section 10.3 below) shall be the sole and exclusive
      property of the Consolidated Company, and the Consolidated Company shall have
      the right to use and to apply for patents, copyrights, or other statutory or
      common law protection for such Employment Inventions in any country. Employee
      hereby assigns to the Consolidated Company any rights which he may acquire
      in
      such Employment Inventions. Furthermore, Employee agrees to assist the
      Consolidated Company in every proper way at the Consolidated Company's expense
      to obtain patents, copyrights, and other statutory common law protections for
      such Employment Inventions in any country and to enforce such rights from time
      to time. Specifically, Employee agrees to execute all documents as the
      Consolidated Company may desire for use in applying for and in obtaining or
      enforcing such patents, copyrights, and other statutory or common law
      protections together with any assignments thereof to the Consolidated Company
      or
      to any person designated by the Company. Employee's obligations under this
      Section 10 shall continue beyond the termination of his employment under this
      Agreement, but the Consolidated Company shall compensate Employee at a rate
      agreed upon by Employee and the Consolidated Company pursuant to negotiations
      in
      good faith after such termination for the time which Employee actually spends
      at
      the Consolidated Company's request in rendering such assistance. 

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    10.3 Employment
      Inventions.
      The
      definition of Employment Invention as used in this Section 10 is as
      follows:

    

    “Employment
      Invention” means any invention or part thereof conceived, developed, reduced to
      practice, or created by an employee which is:

    

    (a) conceived,
      developed, reduced to practice, or created by the employee:

    

    (i) within
      the scope of his employment;

    

    (ii) on
      his
      employer's time; or

    

    (iii) with
      the
      aid, assistance, or use of any of his employer's property, equipment,
      facilities, supplies, resources, or intellectual property;

    

    (b) the
      result of any work, services, or duties performed by an employee for his
      employer;

    

    (c) related
      to the industry or trade of the employer; or

    

    (d) related
      to the current or demonstrably anticipated business, research, or development
      of
      the employer.

    

    10.4 Exclusion
      of Prior Inventions.
      Exhibit
      A
      attached
      hereto is a complete list by Employee of all inventions which Employee has
      conceived, learned, made or first reduced to practice, either alone or jointly
      with others, prior to or during his employment with the Company and which he
      desires to exclude from the operation of this Agreement. If no inventions are
      listed on this Exhibit
      A,
      Employee represents that he has made no such inventions at the time of signing
      this Agreement. The Company hereby acknowledges and agrees that, for all
      purposes of this Agreement, none of the inventions listed on Exhibit
      A
      shall be
      treated as Employment Inventions hereunder.

    

    10.5 Inventions
      of Third Parties.
      Employee shall not disclose to the Consolidated Company, use in the course
      of
      his employment, or incorporate into the Consolidated Company's products or
      processes any confidential or proprietary information or inventions that belong
      to a third party, unless the Consolidated Company has received authorization
      from such third party.

     

    11. No
      Conflicts.
       Employee
      hereby represents that his performance of all the terms of this Agreement and
      his work as an employee of the Company does not breach any oral or written
      agreement which he has made prior to his employment with the
      Company.

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    12. Equitable
      Remedies.
       Employee
      acknowledges and agrees that the breach or threatened breach by him of certain
      provisions of this Agreement, including without limitation Sections 8, 9, and
      10
      above, would cause irreparable harm to the Consolidated Company for which
      damages at law would be an inadequate remedy. Accordingly, Employee hereby
      agrees that in any such instance the Company shall be entitled to seek (without
      prior mediation or arbitration) injunctive or other equitable relief in any
      state or federal court within or without the State of Nevada in addition to
      any
      other remedy to which it may be entitled. Employee hereby submits to the
      jurisdiction of any courts within the City of Reno in the State of Nevada and
      agrees not to assert such venue is inconvenient. 

    

    13. Assignment.
      This
      Agreement is for the unique personal services of Employee and is not assignable
      or delegable in whole or in part by Employee without the consent of the Board.
      This Agreement may not be assigned or delegated in whole or in part by the
      Company without the written consent of Employee; provided, however, this
      Agreement may be assigned by the Company without Employee’s prior written
      consent if such assignment is made to an entity acquiring substantially all
      of
      the business or assets of the Company.

    

    14. Waiver
      or Modification.
      Any
      waiver, modification, or amendment of any provision of this Agreement shall
      be
      effective only if in writing in a document that specifically refers to this
      Agreement and such document is signed by the parties hereto.

    

    15. 
      Entire Agreement.
      This
      Agreement constitutes the full and complete understanding and agreement of
      the
      parties hereto with respect to the subject matter covered herein and supersedes
      all prior oral or written understandings and agreements with respect
      thereto.
      This
      Agreement supersedes, replaces and effects the termination of the Executive
      Employment Agreement effective November 10, 2004 between Employee and Altair.
      

    

    16. Severability.
      If any
      provision of this Agreement is found to be unenforceable by a court of competent
      jurisdiction, the remaining provisions shall nevertheless remain in full force
      and effect.

    

    17. Attorneys’
      Fees.
      Should
      any Company, Parent or Employee default in any of the covenants contained in
      this Agreement, or in the event a dispute shall arise as to the meaning of
      any
      term of this Agreement, the defaulting or nonprevailing party shall pay all
      costs and expenses, including reasonable attorneys’ fees, that may arise or
      accrue from enforcing this Agreement, securing an interpretation of any
      provision of this Agreement, or in pursuing any remedy provided by applicable
      law whether such remedy is pursued or interpretation is sought by the filing
      of
      a lawsuit, an appeal, or otherwise.

    

    18. Confidentiality.
      Each of
      the parties acknowledges that the common shares of Parent are registered under
      the Securities Exchange Act of 1934, as amended, and a result, the Company
      may
      be required to, and hereby has authorization to, file this Agreement or any
      amendment hereto with the Securities and Exchange Commission without requesting
      confidential treatment for any portion hereof. 

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    19. Notices.
      Any
      notice required hereunder to be given by either party shall be in writing and
      shall be delivered personally or sent by certified or registered mail, postage
      prepaid, or by private courier, with written verification of delivery, or by
      facsimile or other electronic transmission to the other party to the address
      or
      facsimile number set forth below or to such other address or facsimile number
      as
      either party may designate from time to time according to this provision. A
      notice delivered personally or by facsimile or electronic transmission shall
      be
      effective upon receipt. A notice delivered by mail or by private courier shall
      be effective on the third day after the day of mailing:

    

    
      	 	
              (a)

            	
              To
                Employee at:

            	
              Edward
                Dickinson 

            
	 	 	 	
              659
                Caughlin Glen

            
	 	 	 	
              Reno,
                Nevada 89509

            
	 	 	 	 
	 	
              (b)

            	
              To
                the Company at:

            	
              Altair
                Nanotechnologies Inc. 

            
	 	 	 	
              204
                Edison Way

            
	 	 	 	
              Reno,
                Nevada 89502

            
	 	 	 	
              Facsimile
                No: (775) 856-1619

            

    

    

    20. Disputes;
      Governing Law; Arbitration.
      

    

    (a) Except
      as
      provided in Section 12 and Section 8.5, any dispute concerning the
      interpretation or construction of this Agreement or his employment or service
      with Company, shall be resolved by confidential mediation or binding arbitration
      in Reno, Nevada. The parties shall first attempt mediation with a neutral
      mediator agreed upon by the parties. If mediation is unsuccessful or if the
      parties are unable to agree upon a mediator, the dispute shall be submitted
      to
      arbitration pursuant to the procedures of the American Arbitration Association
      (“AAA”) or other procedures agreed to by the parties. All arbitration
      proceedings shall be conducted by a neutral arbitrator mutually agreed upon
      by
      the parties from a list provided by AAA. The decision of the arbitrator shall
      be
      final and binding on all parties. The costs of mediation and arbitration shall
      be borne equally by the parties. 

    

    (b) This
      Agreement shall be construed in accordance with and governed by the statutes
      and
      common law of the State of Nevada. To the extent this Agreement expressly
      permits any dispute to be resolved other than through arbitration or mediation,
      the exclusive venue for any such action shall be the state and federal courts
      located in Reno, Nevada, and the parties each hereby submit to the jurisdiction
      of such courts for purposes of this Agreement.

    

    21. Counterparts;
      Facsimile.
      This
      Agreement may be executed in multiple counterparts, all of which taken together
      shall form a single Agreement. A facsimile copy of this Agreement or any
      counterpart thereto shall be valid as an original.

    

    [intentionally
      left blank; signature page follows]

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, Employee has signed this Altair Executive Employment Agreement
      personally and the Company and Parent have caused this Agreement to be executed
      by their duly authorized representatives.

    

    

    
      	 	 	 	 	 	 	
              COMPANY:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              ALTAIR
                NANOMATERIALS, INC. 

            
	 	 	 	 	 	 	
              a
                Nevada corporation 

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              By:
                ___________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Name:
                _________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Title:
                __________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              PARENT:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              ALTAIR
                NANOTECHNOLOGIES INC. 

            
	 	 	 	 	 	 	
              a
                Canadian corporation 

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              By:
                ___________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Name:
                _________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Title:
                __________________________________

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              EMPLOYEE:

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              _______________________________________

            
	 	 	 	 	 	 	
              Edward
                Dickinson, an individual 

            

    

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    PRIOR
      INVENTIONS AND TRADEMARKS

    

    

    None.

     

     

    13

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