Document:

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                                                                   EXHIBIT 10.8

                         BOLDER TECHNOLOGY CORPORATION

                             KEY EMPLOYEE AGREEMENT
                                      FOR
                                  ROGER WARREN

         This Employment Agreement ("Agreement") is entered into as of the 17th
day of September 1999, by and between Roger Warren ("Executive") and Bolder
Technology Corporation, a Delaware corporation (the "Company").

         WHEREAS, the Company desires to employ Executive to provide personal
services to the Company, and wishes to provide Executive with certain
compensation and benefits in return for his services; and

         WHEREAS, Executive wishes to be employed by the Company and provide
personal services to the Company in return for certain compensation and
benefits;

         NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, it is hereby agreed by and between the parties hereto as
follows:

         1. EMPLOYMENT BY THE COMPANY.

                  1.1 Subject to the terms set forth herein, the Company agrees
to employ Executive in the position of President and Chief Executive Officer,
and Executive hereby accepts such employment effective as of October 1, 1999
(the "Employment Date"). As of January 1, 2000, Executive shall also become
Chairman of the Board and shall serve as such so long as he is President and
Chief Executive Officer. During the term of his employment with the Company,
Executive will devote his best efforts and substantially all of his business
time and attention (except for vacation periods as set forth herein and
reasonable periods of illness or other incapacities permitted by the Company's
general employment policies) to the business of the Company.

                  1.2 Executive shall serve in an executive capacity and shall
perform such duties as are customarily associated with his then current title,
consistent with the Bylaws of the Company and as required by the Company's
Board of Directors (the "Board").

                  1.3 The employment relationship between the parties shall
also be governed by the general employment policies and practices of the
Company, including those relating to protection of confidential information and
assignment of inventions, except that when the terms of this Agreement differ
from or are in conflict with the Company's general employment policies or
practices, this Agreement shall control.

<PAGE>   2

         2. COMPENSATION.

                  2.1 SALARY. Executive shall receive for services to be
rendered hereunder an annualized base salary of $100,000 during the first year
of this Agreement, $125,000 during the second year of this Agreement and
$150,000 during the third year of this Agreement. Such salary shall be payable
on the Company's payroll schedule.

                  2.2 DISCRETIONARY BONUS. Executive will be eligible for a
discretionary bonus, in an amount of up to 80% of his base salary for the year
for which the bonus is being paid. The bonus will be payable upon achievement
of criteria determined by the Company's Board of Directors. The Board of
Directors shall determine in its sole discretion whether such criteria have
been met. . For the quarter ending December 31, 1999, Executive shall receive a
bonus of $15,000.

                  2.3 STOCK OPTIONS. On the Employment Date, the Company shall
grant Executive five stock options as follows:

<TABLE>
<CAPTION>
                         Exercise
Option       Shares       Price         Vesting                 Term          Type      Post-Termination Exercise
------       ------     ---------       -------                 ----          ----      -------------------------
<S>          <C>        <C>           <C>                     <C>          <C>          <C>
  1.         150,000       FMV        Vested immediately      10 years      ISO/NSO       12 months for death or
                                                                           disability
                                                                                          3 months for all other
                                                                                          terminations
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  2.         150,000       FMV        Vested pro rata         10 years      ISO/NSO       12 months for death or
                                      monthly over 36 months                              disability

                                                                                          3 months for all other
                                                                                          terminations

-----------------------------------------------------------------------------------------------------------------
  3.         150,000       FMV        Vested pro rata         10 years      ISO/NSO       24 months following any
                                      monthly over 36 months                              termination

-----------------------------------------------------------------------------------------------------------------
  4.         150,000   25% of FMV     Vested pro rata         10 years        NSO         Exerciseable for full 10
                                      monthly over 36 months                              year term, regardless of
                                                                                          termination
-----------------------------------------------------------------------------------------------------------------
  5.         22,000       FMV         Lump sum in 7 years,    10 years        NSO         12 months for death or
                                      subject to                                          disability
                                      performance-based
                                      acceleration                                        3 months for all other
                                                                                          terminations
-----------------------------------------------------------------------------------------------------------------
</TABLE>

                                      2.
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"FMV" means the Fair Market Value of the Company's Common Stock on the
Employment Date, determined pursuant to the Company's Stock Option Plan.
Options No. 1, 2 and 3 will be incentive stock options to the extent permitted
under the Internal Revenue Code.

Each option will be evidenced by an option agreement in the form attached as
Exhibits A, B, C, D, and E. As more fully set forth in such Exhibits, Options
1, 2, 3, 4 and 5 will each become fully vested and exercisable in the event of
a "Sale of the Company", as defined below.

Option 5 shall vest seven years from the date of grant, subject to acceleration
upon achievement of performance objectives to be established at the beginning
of each year by the Company's Board of Directors. A similar option shall be
granted at the beginning of each of years two and three under this Agreement,
and will be subject to accelerated vesting based upon performance criteria
defined by the Board of Directors for such year.

Executive shall retain all previously granted director options, which shall
continue to vest in accordance with their terms.

                  2.4 STANDARD COMPANY BENEFITS. Executive shall be entitled to
all rights and benefits for which he is eligible under the terms and conditions
of the standard Company benefits and compensation practices which may be in
effect from time to time and provided by the Company to its employees
generally.

                  2.5 RELOCATION ALLOWANCE. The Company will pay Executive a
lump sum relocation allowance of $50,000. The Company will also pay reasonable
relocation expenses and temporary living expenses.

                  2.6 SPECIAL BONUS UPON SALE OF COMPANY. If, during the term
of this Agreement, the Company consummates the Sale of the Company, Executive
will be entitled to receive a special bonus in an amount equal to one percent
(1%) of the Equity Value of the Company minus Executive's Option Value. For
purposes of this Section 2.6:

                           (i) "Sale of the Company" means a sale of all or
         substantially all of the Company's assets, or a merger of the Company
         with or into another company if, as a result of such merger, the
         holders of the Company's voting securities immediately prior to the
         closing of such transaction own less than fifty percent of the voting
         securities of the surviving company in such merger.

                           (ii) "Equity Value" means the value of all cash,
         securities and other consideration received by the holders of the
         Company's capital stock in connection with the Sale of the Company.
         The Equity Value shall include the consideration received or
         receivable by holders of the Company's common stock, preferred stock
         and vested stock options (less the exercise price of such options),
         but shall not include the value of consideration receivable upon
         exercise of unvested stock options. Any consideration in the form of
         marketable securities shall be valued at the closing sale price of
         such securities on the business day immediately prior to the closing
         date of the Sale of the Company. Any consideration in the form of

                                      3.
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         securities for which there is no established trading market shall be
         valued at their fair market value as of the closing date by the
         Company's Board of Directors.

                           (iii) "Option Value" shall mean the aggregate value
         of the Common Stock issuable upon exercise of Executive's stock
         options (based on the closing sale price of the Company's Common Stock
         as of the business day prior to the closing of the Sale of the
         Company), minus the aggregate exercise price of such stock options.

The bonus shall be paid at the same time and in the same form as the
consideration payable to the holders of the Company's capital stock.

                  2.7 ADDITIONAL PAYMENT.

                           (a) Notwithstanding any other provision of this
Agreement, if any portion of any payment under this Agreement, or under any
other agreement with or plan of the Company or its affiliates (in the aggregate
"Total Payments"), would constitute an "excess parachute payment", Executive
shall be paid an additional amount (the "Gross-Up Payment") such that the net
amount retained by Executive after deduction of any excise tax imposed under
Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), any
interest charges or penalties in respect of the imposition of such excise tax
(but not any federal, state or local income tax, or employment tax ) on the
Total Payments, and any federal, state and local income tax, employment tax,
and excise tax upon the payment provided for by this Section shall be equal to
the Total Payments. The Gross-Up Payment shall be made by the Company to the
Executive as soon as practicable, but in no event beyond thirty (30) days from
the later of (i) the date of the determination of the Gross-Up Payment or (ii)
the date of the payments triggering the application of this Section 2.7(a) are
made. For purposes of determining the amount of the Gross-Up Payment, Executive
shall be deemed to pay federal income tax and employment taxes at the highest
marginal rate of federal income and employment taxation in the calendar year in
which the Gross-Up Payment is to be made and state and local income taxes at
the highest marginal rate of taxation in the state and locality of Executive's
domicile for income tax purposes on the date the Gross-Up Payment is made, net
of the maximum reduction in federal income taxes that may be obtained from the
deduction of such state and local taxes.

                           (b) For purposes of this Agreement, the terms
"excess parachute payment" and "parachute payments" shall have the meanings
assigned to them in Section 280G of the Code and such "parachute payments"
shall be valued as provided therein. Present value for purposes of this
Agreement shall be calculated in accordance with Section 1274(b)(2) of the Code
(or any successor provision). Within fifteen (15) days following the date of
notice by the Company to the Executive, or of the Executive to the Company, of
its or his belief that there is a payment or benefit due the Executive which
will result in an excess parachute payment as defined in Section 280G of the
Code, the Executive and the Company, at the Company's expense, shall obtain the
opinion (which need not be unqualified) of nationally recognized tax counsel
("National Tax Counsel") selected by the Company's independent auditors and
reasonably acceptable to the

                                      4.
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Executive (which may be regular outside counsel to the Company), which opinion
sets forth (i) the amount of the Base Period Income, (ii) the amount and
present value of Total Payments and (iii) the amount and present value of any
excess parachute payments. As used in this Agreement, the term "Base Period
Income" means an amount equal to the Executive's "annualized includable
compensation for the base period" as defined in Section 280G(d)(1) of the Code.
For purposes of such opinion, the value of any noncash benefits or any deferred
payment or benefit shall be determined by the Company's independent auditors in
accordance with the principles of Section 280G(d)(3) and (4) of the Code (or
any successor provisions), which determination shall be evidenced in a
certificate of such auditors addressed to the Company and the Executive. The
opinion of National Tax Counsel shall be dated as of the date of determination
and addressed to the Company and the Executive and shall be binding upon the
Company and the Executive. If such National Tax Counsel so requests in
connection with the opinion required by this paragraph (b) of Section 2.7, the
Executive and the Company shall obtain the advice of a firm of recognized
executive compensation consultants as to the reasonableness of any item of
compensation to be received by the Executive solely with respect to its status
under Section 280G of the Code and the regulations thereunder. Subject to the
second sentence of Section 2.7(a) above, within five (5) days after the
National Tax Counsel's opinion is received by the Company and the Executive,
the Company shall pay (or cause to be paid) or distribute (or cause to
distribute) to or for the benefit of Executive such amounts as are then due to
Executive under this Agreement.

                           (c) In the event that upon any audit by the Internal
Revenue Service, or by a state or local taxing authority, of the Total Payments
or Gross-Up Payment, a change is finally determined to be required in the
amount of taxes paid by Executive, appropriate adjustments shall be made under
this Agreement such that the net amount which is payable to the Executive after
taking into account the provisions of Section 4999 of the Code shall reflect
the intent of the parties as expressed in paragraph (a) above, in the manner
determined by the National Tax Counsel.

                           (d) The Company agrees to bear all costs associated
with, and to indemnify and hold harmless, the National Tax Counsel of and from
any and all claims, damages, and expenses resulting from or relating to its
determinations pursuant to paragraphs (b) and (c) above, except for claims,
damages or expenses resulting from the gross negligence or willful misconduct
of such firm.

         3. PROPRIETARY INFORMATION OBLIGATIONS.

                  3.1 AGREEMENT. Executive agrees to execute and abide by the
Proprietary Information and Inventions Agreement attached hereto as Exhibit D.

                  3.2 REMEDIES. Executive's duties under the Proprietary
Information and Inventions Agreement shall survive termination of his
employment with the Company. Executive acknowledges that a remedy at law for
any breach or threatened breach by him of the provisions of the Proprietary
Information and Inventions Agreement would be inadequate, and he therefore
agrees that the Company shall be entitled to injunctive relief in case of any
such breach or threatened breach.

                                      5.
<PAGE>   6

         4. OUTSIDE ACTIVITIES.

                  4.1 Except with the prior written consent of the Company's
Board of Directors, Executive will not during the term of this Agreement
undertake or engage in any other employment, occupation or business enterprise,
other than ones in which Executive is a passive investor. Executive may engage
in civic and not-for-profit activities so long as such activities do not
materially interfere with the performance of his duties hereunder.

                  4.2 Except as permitted by Section 4.3, Executive agrees not
to acquire, assume or participate in, directly or indirectly, any position,
investment or interest known by him to be adverse or antagonistic to the
Company, its business or prospects, financial or otherwise.

                  4.3 During the term of his employment by the Company, except
on behalf of the Company, Executive will not directly or indirectly, whether as
an officer, director, stockholder, partner, proprietor, associate,
representative, consultant, or in any capacity whatsoever engage in, become
financially interested in, be employed by or have any business connection with
any other person, corporation, firm, partnership or other entity whatsoever
which were known by him to compete directly with the Company, throughout the
world, in any line of business engaged in (or planned to be engaged in) by the
Company; provided, however, that anything above to the contrary
notwithstanding, he may own, as a passive investor, securities of any
competitor corporation, so long as his direct holdings in any one such
corporation shall not in the aggregate constitute more than 1% of the voting
stock of such corporation.

         5. TERMINATION OF EMPLOYMENT.

                  5.1 TERMINATION WITHOUT CAUSE.

                           (a) The Company shall have the right to terminate
Executive's employment with the Company at any time without cause.

                           (b) In the event Executive's employment is
terminated without cause before November 1, 2002, the Company shall pay
Executive an amount equivalent to his base salary for a period of 12 months.
Such severance pay will be paid in 12 equal monthly installments.

                           (c) In the event Executive's employment is
terminated without cause on or after November 1, 2002, he will not be entitled
to severance pay, pay in lieu of notice or any other such compensation, except
as provided in Section 5.3(a) hereof.

         5.2 TERMINATION FOR CAUSE.

                           (a) The Company shall have the right to terminate
Executive's employment with the Company at any time for cause.

                           (b) "Cause" for termination shall mean: (a)
indictment or conviction of any felony or of any crime involving dishonesty;
(b) participation in any

                                      6.
<PAGE>   7

fraud against the Company; (c) intentional damage to any property of the
Company; or (d) conduct by Executive which in the good faith and reasonable
determination of the Board demonstrates gross unfitness to serve.

                           (c) In the event Executive's employment is
terminated at any time with cause, he will not be entitled to severance pay,
pay in lieu of notice or any other such compensation.

                  5.3 VOLUNTARY OR MUTUAL TERMINATION.

                           (a) Executive may voluntarily terminate his
employment with the Company at any time, after which no further compensation
will be paid to Executive. In order to allow the Company time to hire a
replacement, Executive shall give the Company at least six months written
notice of his resignation. The Company may elect to terminate Executive's
employment at any time before the end of such notice period, provided that
severance compensation equal to Executive's then current base salary shall be
paid during any portion of the such notice period remaining after any such
accelerated employment termination date.

                         (b) In the event Executive voluntarily terminates
his employment, he will not be entitled to severance pay, pay in lieu of notice
or any other such compensation.

         6. RESTRICTIVE COVENANT. In the event Executive voluntarily terminates
his employment with the Company, or his employment is terminated for cause,
then for one (1) year immediately following the termination date, Executive
shall not, without first obtaining the prior written approval of the Company,
directly or indirectly engage or prepare to engage, in any activities in
competition with the Company, or accept employment or establish a business
relationship with a business engaged in or preparing to engage in competition
with the Company, in any geographical location in which the Company as of the
termination date either conducts or plans to conduct business.

         7. NONINTERFERENCE.

                  While employed by the Company, and for three (3) years
immediately following the Termination Date, Executive agrees not to interfere
with the business of the Company by:

                           (a) soliciting, attempting to solicit, inducing, or
otherwise causing any employee of the Company to terminate his or her
employment in order to become an employee, consultant or independent contractor
to or for any competitor of the Company; or

                           (b) directly or indirectly soliciting the business
of any customer of the Company which at the time of termination or one year
immediately prior thereto was listed on the Company's customer list.

                                      7.
<PAGE>   8

         8. GENERAL PROVISIONS.

                  8.1 NOTICES. Any notices provided hereunder must be in
writing and shall be deemed effective upon the earlier of personal delivery
(including personal delivery by telex) or the third day after mailing by first
class mail, to the Company at its primary office location and to Executive at
his address as listed on the Company payroll.

                  8.2 SEVERABILITY. Whenever possible, each provision of this
Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid,
illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision or any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provisions had never been contained herein.

                  8.3 WAIVER. If either party should waive any breach of any
provisions of this Agreement, he or it shall not thereby be deemed to have
waived any preceding or succeeding breach of the same or any other provision of
this Agreement.

                  8.4 COMPLETE AGREEMENT. This Agreement and its Exhibits
constitute the entire agreement between Executive and the Company and it is the
complete, final, and exclusive embodiment of their agreement with regard to
this subject matter. It is entered into without reliance on any promise or
representation other than those expressly contained herein, and it cannot be
modified or amended except in a writing signed by an officer of the Company.

                  8.5 COUNTERPARTS. This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one
party, but all of which taken together will constitute one and the same
Agreement.

                  8.6 HEADINGS. The headings of the sections hereof are
inserted for convenience only and shall not be deemed to constitute a part
hereof nor to affect the meaning thereof.

                  8.7 SUCCESSORS AND ASSIGNS. This Agreement is intended to
bind and inure to the benefit of and be enforceable by Executive and the
Company, and their respective successors, assigns, heirs, executors and
administrators, except that Executive may not assign any of his duties
hereunder and he may not assign any of his rights hereunder without the written
consent of the Company, which shall not be withheld unreasonably.

                  8.8 DISPUTE RESOLUTION. The parties hereby agree that, in
order to obtain prompt and expeditious resolution of any disputes under this
Agreement, each claim, dispute or controversy of whatever nature, arising out
of, in connection with, or in relation to the interpretation, performance or
breach of this Agreement (or any other agreement contemplated by or related to
this Agreement or any other agreement between the Company and Executive),
including without limitation, any claim based on contract, tort or statute, or
the arbitrability of any claim hereunder (a "Claim"), shall be settled, at the
request of any party to this Agreement, by final and binding arbitration
conducted in

                                      8.
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Denver, Colorado. All such Claims shall be settled by one arbitrator in
accordance with the Commercial Arbitration Rules then in effect of the American
Arbitration Association. Each party hereto expressly consents to, and waives
any future objection to, such forum and arbitration rules. Judgment upon any
award may be entered by any state or federal court having jurisdiction thereof.
Except as required by law (including, without limitation, the rules and
regulations of the Securities and Exchange Commission and the Nasdaq Stock
Market, if applicable), neither party nor the arbitrator shall disclose the
existence, content, or results of any arbitration hereunder without the prior
written consent of all parties. Adherence to this dispute resolution process
shall not limit the right of the Company or Executive to obtain any provisional
remedy, including without limitation, injunctive or similar relief from any
court of competent jurisdiction as may be necessary to protect their respective
rights and interests pending arbitration. Notwithstanding the foregoing
sentence, this dispute resolution procedure is intended to be the exclusive
method of resolving any Claims arising out of or relating to this Agreement.
The arbitration procedures shall follow the substantive law of the State of
Colorado, including the provisions of statutory law dealing with arbitration,
as it may exist at the time of the demand for arbitration, insofar as said
provisions are not in conflict with this Agreement and specifically excepting
therefrom sections of any such statute dealing with discovery and sections
requiring notice of the hearing date by registered or certified mail. If either
party hereto brings any action to enforce his or its rights hereunder, the
prevailing party in any such action shall be entitled to recover his or its
reasonable attorneys' fees and costs incurred in connection with such action to
the extent that the other party's claims or defenses are found to be frivolous.

                  8.9 CHOICE OF LAW. All questions concerning the construction,
validity and interpretation of this Agreement will be governed by the law of
the State of Colorado.

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
day and year first above written.

                                               BOLDER TECHNOLOGY CORPORATION

                                               By:
                                                  ----------------------------
                                                   [NAME]
                                                   [TITLE]

                                               Date:
                                                    --------------------------

Accepted and agreed this
___ day of _________, 1999.

----------------------------
Roger Warren

                                      9.<PAGE>   1
                                                                   EXHIBIT 10.9

                           NONSTATUTORY STOCK OPTION

Roger Warren, Optionee:

         Bolder Technologies Corporation (the "Company") has granted to you,
the optionee named above, an option to purchase shares of the Common Stock of
the Company ("Common Stock"). This option is not intended to qualify and will
not be treated as an "incentive stock option" within the meaning of Section 422
of the Code.

         The details of your option are as follows:

         1. TOTAL NUMBER OF SHARES SUBJECT TO THIS OPTION. The total number of
shares of Common Stock subject to this option is twenty-two thousand (22,000).

         2. VESTING. Subject to the limitations contained herein, all of the
shares granted hereunder will vest (become exercisable) on September 30, 2006,
subject to acceleration upon achievement of performance objectives to be
established at the beginning of each year by the Company's Board of Directors,
unless and until you cease to provide services to the Company for any reason.

         3. EXERCISE PRICE AND METHOD OF PAYMENT.

                  (a) EXERCISE PRICE. The exercise price of this option is
$10.375 per share.

                  (b) METHOD OF PAYMENT. Payment of the exercise price per
share is due in full upon exercise of all or any part of each installment which
has accrued to you. You may elect, to the extent permitted by applicable
statutes and regulations, to make payment of the exercise price under one of
the following alternatives:

                           (i) Payment of the exercise price per share in cash
(including check) at the time of exercise; or

                           (ii) Payment pursuant to a program developed under
Regulation T as promulgated by the Federal Reserve Board which, prior to the
issuance of Common Stock, results in either the receipt of cash (or check) by
the Company or the receipt of irrevocable instructions to pay the aggregate
exercise price to the Company from the sales proceeds.

         4. WHOLE SHARES. This option may not be exercised for any number of
shares which would require the issuance of anything other than whole shares.

         5. SECURITIES LAW COMPLIANCE. Notwithstanding anything to the contrary
contained herein, this option may not be exercised unless the shares issuable
upon exercise of this option are then registered under the Securities Act, or,
if such shares are not then so registered, the Company has determined that such
exercise and issuance would be exempt from the registration requirements of the
Securities Act.

         6. TERM. The term of this option commences on October 1, 1999, the
date of grant, and expires on September 30, 2009 (the "Expiration Date"),
unless this option expires sooner as

                                      1.
<PAGE>   2

set forth below. In no event may this option be exercised on or after the
Expiration Date. Notwithstanding the foregoing, this option shall terminate
three (3) months after the termination of your Continuous Status as an
Employee, Director or Consultant for any reason and for no reason unless:

                  (a) such termination of Continuous Status as an Employee,
Director or Consultant is due to your disability (within the meaning of Section
422(c)(6) of the Code), in which event the option shall expire on the earlier
of the Expiration Date set forth above or twelve (12) months following such
termination of Continuous Status as an Employee, Director or Consultant; or

                  (b) such termination of Continuous Status as an Employee,
Director or Consultant is due to your death or your death occurs within three
(3) months following your termination for any other reason, in which event the
option shall expire on the earlier of the Expiration Date set forth above or
twelve (12) months after your death; or

                  (c) during any part of such three (3) month period the option
is not exercisable solely because of the condition set forth in paragraph 5
above, in which event the option shall not expire until the earlier of the
Expiration Date set forth above or until it shall have been exercisable for an
aggregate period of three (3) months after the termination of Continuous Status
as an Employee, Director or Consultant; or

                  (d) exercise of the option within three (3) months after
termination of your Continuous Status as an Employee, Director or Consultant
would result in liability under Section 16(b) of the Exchange Act, in which
case the option will expire on the earlier of (i) the Expiration Date set forth
above, (ii) the tenth (10th) day after the last date upon which exercise would
result in such liability or (iii) six (6) months and ten (10) days after the
termination of your Continuous Status as an Employee, Director or Consultant.

         However, this option may be exercised following termination of
Continuous Status as an Employee, Director or Consultant only as to that number
of shares as to which it was exercisable on the date of termination of
Continuous Status as an Employee, Director or Consultant under the provisions
of paragraph 2 of this option.

         7. EXERCISE.

                  (a) This option may be exercised, to the extent specified
above, by delivering a notice of exercise (in a form designated by the Company)
together with the exercise price to the Secretary of the Company, or to such
other person as the Company may designate, during regular business hours,
together with such additional documents as the Company may then require
pursuant to paragraph 7(b) below.

                  (b) The Company may require you, as a condition of exercising
this option: (i) to give written assurances satisfactory to the Company as to
your knowledge and experience in financial and business matters, and that you
are capable of evaluating the merits and risks of exercising this option; and
(ii) to give written assurances satisfactory to the Company that you are
acquiring the shares subject to the option for your own account and not with
any present

                                       2.
<PAGE>   3

intention of selling or otherwise distributing such shares. The foregoing
requirements, and any assurances given pursuant to such requirements, shall be
inoperative if (x) the issuance of the shares upon the exercise of this option
has been registered under a then currently effective registration statement
under the Securities Act, or (y) as to any particular requirement, a
determination is made by counsel for the Company that such requirement need not
be met in the circumstances under the then applicable securities laws. The
Company may, upon advice of counsel to the Company, place legends on stock
certificates issued upon exercise of this option as such counsel deems
necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the transfer of the stock.

                  (c) By exercising this option, you agree that as a
precondition to the completion of any exercise of this option, the Company may
require you to enter an arrangement providing for the payment by you to the
Company of any tax withholding obligation of the Company arising by reason of:
(i) the exercise of this option; (ii) the lapse of any substantial risk of
forfeiture to which the shares are subject at the time of exercise; or (iii)
the disposition of shares acquired upon such exercise. You also agree that any
exercise of this option has not been completed and that the Company is under no
obligation to issue any Common Stock to you until such an arrangement is
established or the Company's tax withholding obligations are satisfied, as
determined by the Company.

         8. TRANSFERABILITY. This option is not transferable, except by will or
by the laws of descent and distribution or pursuant to a qualified domestic
relations order satisfying the requirements of Rule 16b-3 of the Exchange Act
(a "QDRO"), and is exercisable during your life only by you or a transferee
pursuant to a QDRO. Notwithstanding the foregoing, by delivering written notice
to the Company, in a form satisfactory to the Company, you may designate a
third party who, in the event of your death, shall thereafter be entitled to
exercise this option.

         9. ADJUSTMENTS UPON CHANGES IN STOCK.

                  (a) If any change is made in the shares subject to this
option without the receipt of consideration by the Company (through merger,
consolidation, reorganization, recapitalization, reincorporation, stock
dividend, dividend in property other than cash, stock split, liquidating
dividend, combination of shares, exchange of shares, change in corporate
structure or other transaction not involving the receipt of consideration by
the Company), the option will be appropriately adjusted in the class(es) and
number of shares and price per share of the stock subject thereto. Such
adjustments shall be made by the Board of Directors of the Company, the
determination of which shall be final, binding and conclusive. The conversion
of any convertible securities of the Company shall not be treated as a
"transaction not involving the receipt of consideration by the Company".

                  (b) In the event of: (i) a dissolution, liquidation or sale
of substantially all of the assets of the Company; (ii) a merger or
consolidation in which the Company is not the surviving corporation; or (iii) a
reverse merger in which the Company is the surviving corporation but the shares
of Common Stock of the Company outstanding immediately preceding the merger are
converted by virtue of the merger into other property, whether in the form of
securities, cash or otherwise, then to the extent permitted by applicable law:
(x) any surviving corporation or an Affiliate of such surviving corporation
shall

                                      3.
<PAGE>   4

assume this option or shall substitute a similar option therefor, or (y) this
option shall continue in full force and effect. In the event any surviving
corporation and its Affiliates refuse to assume or continue this option, or to
substitute a similar option therefor, then the time during which this option
may be exercised shall be accelerated and the option terminated if not
exercised prior to such event.

         10. OPTION NOT A SERVICE CONTRACT. This option is not an employment
contract and nothing in this option shall be deemed to create in any way
whatsoever any obligation on your part to continue in the employ of the
Company, or of the Company to continue your employment with the Company. In
addition, nothing in this option shall obligate the Company or any Affiliate,
or their respective stockholders, Boards of Directors, officers or employees to
continue any relationship which you might have as a Director or Consultant for
the Company or Affiliate.

         11. NOTICES. Any notices provided for in this option shall be given in
writing and shall be deemed effectively given upon receipt or, in the case of
notices delivered by the Company to you, five (5) days after deposit in the
United States mail, postage prepaid, addressed to you at the address specified
below or at such other address as you hereafter designate by written notice to
the Company.

         12. MISCELLANEOUS. The Board shall have the power to accelerate the
time at which this stock option may first be exercised or the time during which
this stock option or any part thereof will vest pursuant to section 2,
notwithstanding the provisions in this stock option stating the time at which
it may first be exercised or the time during which it will vest. Neither an
Employee, a Director, a Consultant nor any person to whom this stock option is
transferred in accordance with the terms hereof shall be deemed to be the
holder of, or to have any of the rights of a holder with respect to, any shares
subject to this stock option unless and until such person has satisfied all
requirements for exercise of this stock option pursuant to the terms hereof.
The Board of Directors at any time, and from time to time, may amend the terms
of this stock option; provided, however, that the rights and obligations under
this stock option shall not be impaired by any such amendment unless (i) the
Company requests the consent of the person to whom this stock option was
granted and (ii) such person consents in writing.

         13. DEFINITIONS.

                  (a) "AFFILIATE" means any parent corporation or subsidiary
corporation, whether now or hereafter existing, as those terms are defined in
Sections 424(e) and (f) respectively, of the Code.

                  (b) "CODE" means the Internal Revenue Code of 1986, as
amended.

                  (c) "CONSULTANT" means any person, including an advisor,
engaged by the Company or an Affiliate to render consulting services and who is
compensated for such services, provided that the term "Consultant" shall not
include Directors who are paid only directors' fee by the Company or who are
not compensated by the Company for their services as Directors.

                  (d) "CONTINUOUS STATUS AS AN EMPLOYEE, DIRECTOR OR
CONSULTANT" means the employment or relationship as a Director or Consultant is
not interrupted or terminated. The Board of Directors of the Company, in its
sole discretion, may determine whether Continuous

                                      4.
<PAGE>   5

Status as an Employee, Director or Consultant shall be considered interrupted
in the case of: (i) any leave of absence approved by the Board of Directors,
including sick leave, military leave, or any other personal leave; or (ii)
transfers between locations of the Company or between the Company, Affiliates
or their successors.

                  (e) "DIRECTOR" means a member of the Board of Directors of
the Company.

                  (f) "EMPLOYEE" means any person, including Officers and
Directors, employed by the Company or any Affiliate of the Company. Neither
service as a Director nor payment of a director's fee by the Company shall be
sufficient to constitute "employment" by the Company.

                  (g) "EXCHANGE ACT" means the Securities Exchange Act of 1934,
as amended.

                  (h) "SECURITIES ACT" means the Securities Act of 1933, as
amended.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

                                      5.
<PAGE>   6

Dated the 1st day of October, 1999.

                                              Very truly yours,

                                              BOLDER TECHNOLOGIES CORPORATION

                                              By:
                                                 -----------------------------
                                                 Name:
                                                 Title:
ATTACHMENTS:

         Notice of Exercise

                                      6.
<PAGE>   7

         The undersigned:

         1. Acknowledges receipt of the foregoing option and understands that
all rights and liabilities with respect to this option are set forth in the
option; and

         2. Acknowledges that as of the date of grant of this option, it sets
forth the entire understanding between the undersigned optionee and the Company
and its Affiliates regarding the acquisition of stock in the Company and
supersedes all prior oral and written agreements on that subject with the
exception of (i) the options previously granted and delivered to the
undersigned under stock option plans of the Company, and (ii) the following
agreements only:

                  None
                            ------------------------
                                   (Initial)

                  Other:
                            ------------------------

                            ------------------------

                            ------------------------

                                        ------------------------------------
                                        OPTIONEE

                                        Address:

                                        ------------------------------------

                                        ------------------------------------

                                      7.

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