EXHIBIT 10.10
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AMENDMENT TO SUTRON CORPORATION STOCK OPTION AGREEMENT
Pursuant to the terms and conditions contained in the Sutron Corporation Stock
Option Agreement dated October 18, 2002 (the "Agreement") between Xxxxxx X.
Xxxxxx and Sutron Corporation, and the Sutron Corporation 2002 Stock Option Plan
(the "Plan"), you were granted options to purchase 15,000 shares of Sutron
Corporation Common Stock at an exercise price of $.55. Your option originally
vested over a five year period.
On December 22, 2005, the Board of Directors of Sutron Corporation approved
amendments to all outstanding stock option agreements whereby Sutron accelerated
the vesting of all unvested options issued under the Plan, including your
options. As a result of such acceleration, effective December 22, 2005, all of
your options to purchase Sutron Corporation Common Stock that were not then
vested became immediately vested and exercisable. Accordingly, effective
December 22, 2005 all of your options to purchase Sutron Corporation Common
Stock are immediately vested and exercisable. All other terms and conditions of
your Agreements remain unchanged.
This Amendment is effective as of December 22, 2005. As amended by this letter,
all of the provisions of the Agreement are hereby approved, confirmed and
ratified. Please acknowledge your agreement to the foregoing terms by signing in
the space provided below and returning the originally executed letter.
SUTRON CORPORATION
By: /s/ Xxxx X. XxXxxxxx
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Xxxx X. XxXxxxxx
ACKNOWLEDGED AND AGREED TO THIS 22ND DAY OF DECEMBER 2005
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
