This Employment Agreement (the " Agreement "), entered into as of May 8, 2006, is by and between Beacon Power
Corporation, a Delaware corporation (the " Company "), and Matthew L. Lazarewicz (the " Executive ")
WHEREAS, the Executive is an employee of the Company, and the Company desires to retain his services and he
wishes to continue his employment by the Company;
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
SECTION 1 . TERM. The Company shall employ the Executive for a term commencing on the above date and
continuing until December 31, 2006, unless renewed or terminated pursuant to Section 9. The period of the Executive's
employment hereunder is referred to as the " Employment Period ."
SECTION 2 . DUTIES . The Executive shall serve the Company as Vice President and Chief Technical Officer and shall
have duties and responsibilities consistent with such position. Such duties and responsibilities shall include, but not be limited
to, management of the Company's intellectual property and technology. The Executive will report to the Chief Executive Officer
of the Company. The Executive will generally perform his services at the Company's principal offices, which are currently
located in Wilmington, Massachusetts; provided , however , that the Executive may be required to travel from time to time in
connection with Company business.
SECTION 3 . FULL TIME; BEST EFFORTS . During the Employment Period the Executive shall use his best efforts to
promote the interests of the Company and shall devote his full business time and efforts to its business and affairs. The
Executive shall not engage in any business activity which could reasonably be expected to interfere with the performance of the
Executive's duties, services and responsibilities hereunder.
SECTION 4 . COMPENSATION . The Executive shall be entitled to compensatio