Termination of Option Agreement between M.H. Meyerson & Co., Inc. and John P. Leighton

Summary

M.H. Meyerson & Co., Inc. and John P. Leighton have agreed to terminate their previous Option Agreement, originally dated January 14, 2003. This termination is part of a mutual restructuring of Mr. Leighton's compensation by the company. As of January 30, 2003, the Option Agreement is no longer valid or enforceable. Both parties have acknowledged and accepted this termination in writing.

EX-10.10 5 file004.txt TERMINATION OF OPTION AGREEMENT M.H. MEYERSON & CO., INC. 525 WASHINGTON BLVD. JERSEY CITY, NJ 07310 January 30, 2003 Mr. John P. Leighton 180 Nassau Blvd. Garden City, NY 11530 Dear Mr. Leighton: Reference is hereby made to the Option Agreement, dated January 14, 2003 (the "Option Agreement"), by and between M.H. MEYERSON & CO., INC. (the "Company") and John P. Leighton. In connection with the mutually agreed upon restructuring of the compensation to be paid you by the Company, effective the date hereof the Option Agreement is hereby terminated and of no further force and effect. Kindly indicate your agreement with the above by signing the enclosed copy of this letter and returning it to the undersigned. Sincerely yours, M.H. MEYERSON & CO., INC. By: /s/ Martin H. Meyerson ------------------------ Martin H. Meyerson Co-Chairman ACKNOWLEDGED AND AGREED TO AS OF THE DATE FIRST SET FORTH ABOVE: /s/ John P. Leighton - -------------------- John P. Leighton