Nonequilibrium and Parity Effects in the Tunneling Conductance of Ultrasmall Superconducting Grains

Recent experiment on the tunneling spectra of ultrasmall superconducting grains revealed an unusual structure of the lowest differential conductance peak for grains in the odd charging states. We explain this behavior by nonequilibrium ``gapless'' excitations associated with different energy levels occupied by the unpaired electron. These excitations are generated by inelastic cotunneling.