Electronic 1077 Business Center Circle Sensor Newbury Park, California 91320 Technology Tel. (805) 480-1994 FAX (805) 480-1984Chairman of the Board Agreement • October 7th, 2005 • Electronic Sensor Technology, Inc • Mining & quarrying of nonmetallic minerals (no fuels)
On February 21, 2005, you entered into a letter agreement with Electronic Sensor Technology, Inc., a Nevada Corporation (the "Company"), pursuant to which the Company appointed you to the position of Chairman of the Board of Directors for the Company for a two year term (the "Letter Agreement"). To induce you to serve as Chairman of the Board of Directors of the Company, the Company made certain assurances to you regarding equity compensation ("Assurances") and purported to execute on those assurances by means of the Letter Agreement. Following the execution and delivery of the Letter Agreement, each of you and the Company have concluded that the Letter Agreement did not satisfy the Assurances. Accordingly, as no meeting of the minds has occurred, each of you and Company agree that the Letter Agreement is null and void and that each of you and the Company shall be restored to your and its respective position prior to the execution and delivery of the Letter Agreement.
