
<PAGE>   1
                                                                    EXHIBIT 10.1

[BOLDER TECH LETTERHEAD]


                               DANIEL S. LANKFORD
                     Y2000 TRANSITION EMPLOYMENT AGREEMENT

o    Lankford becomes a part time employee effective January 1, 2000 with no
     benefits
o    Remains on the Board indefinitely
o    Will work and be paid for a minimum of 10 days per month through March 31,
     and 5 days per month through June 30.
o    May work additional days at the request of Roger Warren
o    Pay for days worked will be at the rate of $2,000 per day.
o    Stock options granted January 29, 1998 at $9.00 will vest during the period
     January 1, 2000 through June 30, 2000 at the rate of 4,000 shares per
     month, or a total of 24,000 shares.
o    Lankford will be eligible for normal 1999 cash and stock bonus
o    Will be paid for accrued vacation and personal time off as of the end of
     full time employment.
o    Part time employment agreement may be terminated by either party with 30
     days notice.
o    If terminated by Lankford, he foregoes further vesting after termination
     and must exercise all outstanding options within 90 days of termination
o    If terminated by BOLDER, unvested portion of 24,000 shares described above
     vests on termination and stock option expiration as described below
     applies.
o    Stock Options Expire as Follows:
     o    90 days after end of part time employment:
          o    133,333 shares grant July 11, 1994 at $0.375
          o    21,150 shares grant June 8, 1995 at $1.50
     o    180 days after end of part time employment:
          o    21,166 shares grant February 7, 1996 at $6.00
     o    90 days after ceasing to be a director of the Company all remaining
          shares must be exercised


December 16, 1999                          /s/ Daniel S. Lankford
--------------------------                 -------------------------------
Date                                       Daniel S. Lankford
                                           Chairman of the Board


                                           /s/ Roger F. Warren
                                           -------------------------------
                                           Roger F. Warren
                                           President and CEO
