AMENDMENT TO PROMISSORY NOTE DATED MAY 6, 1998Intelligent Controls Inc • March 20th, 2002 • Instruments for meas & testing of electricity & elec signals
WHEREAS, Brooks and the Company are parties to that certain Employee Restricted Stock Purchase Agreement dated as of May 1, 1998; and pursuant to that Agreement Brooks executed a Promissory Note dated May 6, 1998 in favor of the Company, in the principal amount of $1,332,500 (the "Note");
August 27, 2001 Alan Lukas 16 Stapleford Drive Falmouth, ME 04105 Dear Al: This letter will serve to formally confirm our mutual agreement whereby you will leave your full-time Vice President - Product Development position at Intelligent Controls,...Intelligent Controls Inc • March 20th, 2002 • Instruments for meas & testing of electricity & elec signals
This letter will serve to formally confirm our mutual agreement whereby you will leave your full-time Vice President - Product Development position at Intelligent Controls, Inc. ( INCON ), to be effective September 14, 2001. As discussed among the Directors, you will continue, for the time being, to serve as Chairman of the Board and also be available, as required, for up to 400 hours of consulting service, in total, per year.
