Amendment to Commission Agreement between UTEK Corporation and Gerald Krueger, Ph.D. (March 29, 2000)

Summary

This amendment is between UTEK Corporation and Gerald Krueger, Ph.D. It changes the way Dr. Krueger is compensated for successful technology transfers. Instead of receiving a 10% equity commission in companies acquiring UTEK technologies, Dr. Krueger will now receive a $20,000 cash commission for each successful sale of a UTEK licensed technology. The amendment requires Dr. Krueger's agreement and signature to take effect.

EX-10.40 13 g67691ex10-40.txt AMENDMENT DATED 3/29/00 GERALD KRUEGER 1 Exhibit 10.40 March 29, 2000 Gerald Krueger, Ph.D., CPE 4105 Komes Court Alexandria, VA 22306 Dear Jerry: I hope all is well. In preparation for our public offering, we will be operating as a business development corporation, which has its own legal requirements. Accordingly, we will no longer be able to compensate regional representatives with shares of stock in companies who acquire technologies from us. Instead of the current 10% equity commission upon the consummation of any successful technology transfer (which results from your efforts), we will now provide you with a $20,000 cash commission upon the successful sale of a UTEK licensed technology. If you agree to this new commission program, please sign below and fax back to Carole Mason, CFO, by April 12th, 2000. I appreciate all of your efforts to-date and look forward to our continued mutually beneficial relationship. Very best regards, /s/ Uwe Uwe Reischl, Ph.D., M.D. President Cc: Sam Reiber Agreed to: Gerald P. Krueger Date 1 April 2000 ---------------------------- -------------------