Exhibit 10.29


                   EXECUTIVE BONUS PLAN FOR CALENDAR YEAR 2001


Payout guidelines for participants employed by Maxwell Technologies, Inc.,
Maxwell Electronic Components Group, Inc. and I-Bus/Phoenix, Inc.:

1.   Maxwell Electronic Components Group, Inc. and I-Bus/Phoenix, Inc.
     ("Divisions") bonus payouts will be based upon respective Division results
     only. Division payouts will not be influenced by overall Maxwell
     Technologies, Inc. results. An exception relates to Division Presidents,
     for whom the payouts will be determined two-thirds based on the results for
     the respective Division and one-third based upon consolidated Maxwell
     Technologies, Inc. results.

     Bonuses for employees of Maxwell Technologies, Inc. ("Corporate") will be
     paid out based on consolidated Maxwell Technologies, Inc. results,
     including PurePulse.

2.   If YTD results at end of first half are equal to 100% of the First Half
     "Threshold" Amounts for BOTH sales and operating income, a payout equal to
     25% of the full year target bonus will be paid to all bonus plan
     participants, except the CEO and direct reports to the CEO ("Executive
     Staff"), following the release of earnings for Q2. The Executive Staff
     shall not be eligible for mid-year payouts under the bonus plan.

3.   The remaining 75% of the target bonus (or the full 100% if there is no
     payout at the end of the first half) will begin to be earned if the full
     year results reach the Full Year "Threshold" amounts for BOTH sales and
     operating income. There will be no year-end bonus payout if BOTH sales and
     operating income do not meet the respective Threshold amounts.

4.   Half (50%) of the full year target bonus will be earned, pro rata, on
     results achieved which are greater than the Threshold amounts, up to and
     including the full Plan amounts. The payout will be weighted one-third on
     sales and two-thirds on operating income.

5.   If 100% or more of BOTH Plan sales and Plan operating income are achieved,
     year-end bonus payouts will be made at 100% of target.

6.   All year-end bonus payouts will be paid following the release of Q4 results
     for the Company, and will be paid net of any amounts paid out at the end of
     the first half.

7.   Results from acquired businesses and other transactions not in the ordinary
     course and not included in the Plan will be excluded from the results for
     purposes of determining bonus payouts.

8.   At the discretion of the Division Presidents, Division payouts can be
     further subject to the achievement of individual business unit or country
     targets, within the constraints of the overall maximum payout computed
     above.

9.   Further, at the discretion of the Division Presidents, up to 20% of an
     individual's bonus achievement can be determined by performance of
     management objectives to be agreed with the individual, subject to an
     overall cap on bonus payouts as computed above.

Payout for participants employed by PurePulse Technologies, Inc. will be subject
to the achievement of the Financial Plan of PurePulse as well as the achievement
of certain business operating milestones, which are expected to enhance the
enterprise value of PurePulse. PurePulse participants are not eligible for
mid-year payouts under the bonus plan.