CONDUCTUS INC
EX-10.29
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>4
<FILENAME>a2043390zex-10_29.htm
<DESCRIPTION>EX-10.29
<TEXT>

<HTML>
<HEAD>
<TITLE> Prepared by MERRILL CORPORATION www.edgaradvantage.com
</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="page_km1495_1_1"> </A> </FONT> <FONT SIZE=2><B>Exhibit&nbsp;10.29  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=3><B>FULL-RECOURSE PROMISSORY NOTE  </B></FONT></P>

<P><FONT SIZE=2>$
460,244.25 </FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2>Sunnyvale,
California<BR>
Dated as of December&nbsp;28, 2000 </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;FOR
VALUE RECEIVED, the undersigned, Charles E. Shalvoy, promises to pay to the order of Conductus,&nbsp;Inc., a Delaware corporation (the "Company"), the principal sum of four
hundred thousand two hundred forty-four dollars and twenty-five cents ($460,244.25) with interest from the date hereof on the unpaid principal as specified herein. The entire
unpaid balance of principal and interest shall be due and payable on the earlier to occur of (l)&nbsp;December&nbsp;28, 2005or (2)&nbsp;termination of employment with the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
interest rate on this note shall be an annual rate of interest equal to five and eighty-seven hundredths percent (5.87%). Interest shall be computed on the basis of a year of
365&nbsp;days and the actual number of days elapsed, except that interest shall not be computed on the day of full repayment of this note. Interest not paid when due shall earn interest at the rate
specified above. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If
payment is not made when due, and if action is instituted on this note, the undersigned agrees to pay the Company reasonable attorneys' fees and costs of suit, as fixed by court. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned shall have the right to prepay all or any part of the unpaid principal amount of this note, without premium, at any time prior to the maturity hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This
note is a full-recourse note originally secured by a pledge of shares of Common Stock of the Company pursuant to a Security Agreement of even date herewith, which is
on file with the Secretary of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This
note shall be governed by and construed in accordance with the laws of the State of California without regard to California choice of law provisions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the undersigned has signed, dated and delivered this note as of the date and year first above written. </FONT></P>

<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<P ALIGN="CENTER"><FONT SIZE=2>/s/&nbsp;</FONT><FONT
SIZE=2>CHARLES E. SHALVOY</FONT><FONT SIZE=2>&nbsp;&nbsp;<BR></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="240">
<P ALIGN="CENTER"><FONT SIZE=2><BR>
Signature </FONT></P>

</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>1</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=1,EFW="2043390",CP="CONDUCTUS, INC.",DN="4",CHK=691437,FOLIO='1',FILE='DISK030:[01PAL5.01PAL1495]KM1495A.;9',USER='DROCCON',CD='30-MAR-2001;16:01' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->
<BR>
<!-- SEQ=,FILE='QUICKLINK',USER=DNICHOL,SEQ=,EFW="2043390",CP="CONDUCTUS, INC.",DN="4" -->
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
