AMENDMENT TO STOCK OPTION AGREEMENT
AMENDMENT TO STOCK OPTION AGREEMENT, made and entered into as of March
23, 1995, by and between ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ("▇▇▇▇▇▇▇") and H.E.R.C. Products
Incorporated ("HERC").
WHEREAS, ▇▇▇▇▇▇▇ and HERC entered into a Stock Option Agreement dated
as of January 1, 1994 ("Stock Option Agreement"); and
WHEREAS, ▇▇▇▇▇▇▇ and HERC wish to amend the Stock Option Agreement on
the terms and conditions set forth herein.
IT IS AGREED:
1. Paragraph 2 (a) of the Stock Option Agreement is hereby amended by
deleting the phrase "$5.00 per share" therefrom and by substitute the phrase
"$2.50 per share" in lieu thereof.
2. Paragraph 2 (b) of the Stock Option Agreement is hereby amended by
deleting the phrase "$6.25 per share" therefrom and by substituting the phrase
"$3.125 per share" in lieu thereof.
3. Paragraph 2 (c) of the Stock Option Agreement is herby amended by
deleting the phrase "$7.50 per share" therefrom and by substituting the phrase
"$3.75 per share" in lieu thereof.
The undersigned have executed this Agreement as of the 23rd day of
March 1995.
H.E.R.C. Product Incorporated
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇
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▇▇▇▇▇▇ ▇. ▇▇▇▇
Chairman of the Board and
Chief Executive officer
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇