Document:

Exhibit 10.3

 Exhibit 10.3 
 AMENDMENT TO SECURED PROMISSORY NOTE AND 
 PAYOFF LETTER 

This Amendment to Secured Promissory Note and Payoff Letter (the “Amendment and Payoff Letter”) is entered into
effective as of May 18, 2011 (the “Effective Date”), by and between Luna Innovations Incorporated, a Delaware corporation and Luna Technologies, Inc., a Delaware corporation (individually and collectively, called the
“Borrower”) and Hansen Medical, Inc., a Delaware corporation (the “Lender”). 
 RECITALS

 A. Borrower issued to Lender a Secured Promissory Note dated January 12, 2010 in the principal amount of $5,000,000
(the “Note”). Borrower’s obligations under the Note are secured by certain collateral described in the Security Agreement (the “Security Agreement”) and Patent and Trademark Security Agreement (the “IP
Security Agreement”), each dated January 12, 2010. Capitalized terms not otherwise defined herein shall have the meanings given in the Note, the Security Agreement, or the IP Security Agreement, as applicable. 

B. As of the date hereof, the outstanding principal balance on the Note is $3,230,017.09, and the outstanding interest on the Note is
$14,330.98. 
 C. Lender has agreed to a discount on the Note in the amount of $190,000 to be applied against the outstanding
principal balance and accrued interest. 
 D. Borrower desires to pre-pay the remaining amounts due under the Note, after
applying the foregoing discount. 
 E. Contemporaneously with this Amendment and Payoff Letter, Borrower and Lender are entering
into an Amendment No. 3 to Development and Supply Agreement (the “Amendment”). The Amendment is contingent upon Borrower and Lender entering into this Amendment and Payoff Letter and Borrower making the payments to Lender set
forth below. 
 In consideration for the foregoing and for the mutual promises set forth below, Borrower and Lender agree as
follows: 
 AGREEMENT 
 1. Within four business days of the Effective Date, Borrower shall pay to Lender to the account specified on Exhibit A to the Note the amount of $3,054,348.07 (comprised of ((a) $3,230,017.09 (outstanding
principal balance), plus (b) 14,330.98, minus (c) $190,000.00 (the discount)), in immediately available funds, in full satisfaction of Borrower’s Obligations under the Note (the “Final Payment”).

 2. Upon receipt of the Final Payment in accordance with the preceding paragraph, (a) all amounts owing under the Note,
Security Agreement and IP Security Agreement shall have 

 
been paid in full, (b) Borrower shall have no further Obligations to Lender under the Note and all obligations, liabilities, covenants and agreements of Borrower, under or in connection with
the Note, Security Agreement and IP Security Agreement shall be terminated and canceled and are of no further force and effect, (c) all of Lender’s security interest in, security titles to and other liens on all real and personal assets
and property of Borrower shall be terminated automatically without any further action, (d) Borrower, and their attorneys and agents, are authorized to (1) file UCC-3 Termination Statements for each of the UCC-1 Financing Statements
previously filed by Lender against Borrower, (2) file releases of security interest in patents and trademarks previously filed with the United States Patent and Trademark Office, and(3) take such other action to release and terminate the
security interests and liens in favor of Lender, and (e) Lender shall promptly execute and deliver to each Borrower such documents and instruments reasonably requested by such Borrower as shall be necessary to evidence termination of all
security interests given by such Borrow to Lender under the Security Agreement or the IP Security Agreement. 
 3. This
Amendment and Payoff Letter shall be governed by the laws of the State of Delaware, without regard to conflicts of laws, or applicable federal laws as to a particular subject where federal law governs. 

4. This Amendment and Payoff Letter represents the entire agreement of the parties with respect to the subject matter hereof, and mergers
all prior agreements, whether written or oral. This Amendment and Payoff Letter will terminate and have no force or effect if the Final Payment is not received by Lender on or before four business days of the Effective Date. This Amendment and
Payoff Letter may be executed in one or more counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 
 [Remainder of Page Left Intentionally Blank] 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment and Payoff Letter,
as of the date first above written. 
  

			
	Luna Innovations Incorporated
		
	By:	 	 /s/ My E. Chung

		 	Name: My E. Chung
		 	Title: President and CEO

			
	
	 One Riverside Circle, Suite 400
 Roanoke, VA 24016

			
		
	Attn:	 	  

			
	Fax:	 	  

			
	email:	 	  

			
	
	Luna Technologies, Inc.
		
	By:	 	 /s/ Scott A. Graeff

		 	Name: Scott A. Graeff
		 	Title: President

			
	
	 One Riverside Circle, Suite 400
 Roanoke, VA 24016

			
		
	Attn:	 	  

			
	Fax:	 	  

			
	email:	 	  

 
			
	Hansen Medical, Inc.
		
	By:	 	 /s/ Bruce J. Barclay

		 	Name: Bruce J. Barclay
		 	Title: President and CEO

			
	
	 800 East Middlefield Road
 Mountain View, CA 94043

		
	Attn:	 	  

			
	Fax:	 	  

			
	email:Exhibit 10.4

 Exhibit 10.4 
 LUNA INNOVATIONS INCORPORATED 
 EMPLOYMENT AGREEMENT 

This Employment Agreement (the “Agreement”) is entered into as of April 18, 2011 by and between Luna Innovations
Incorporated, a Delaware Corporation (the “Company”), and My Chung (“Executive”). 
 1.
Duties and Scope of Employment. 
 (a) Positions and Duties. During the Employment Term (as defined herein),
Executive will serve as the Company’s President and Chief Executive Officer. Executive will render such business and professional services in the performance of his duties, consistent with Executive’s position within the Company, as shall
reasonably be assigned to him by the Company’s Board of Directors (“Board”). 
 (b) Reporting.
Executive shall report directly to the Board. 
 (c) Obligations. During the Employment Term, and excluding periods of
vacation and sick leave to which Executive is entitled, Executive shall devote all business time and attention to the affairs of the Company necessary to discharge the responsibilities assigned hereunder, and shall use commercially reasonable
efforts to perform faithfully and efficiently such responsibilities. Notwithstanding anything herein to the contrary, Executive may provide services as a volunteer, member, director or officer of charitable, educational or civic organizations or
industry trade associations or groups, and may serve as trustee, director or advisor to any family companies or trusts, provided that such service does not materially interfere with the performance of Executive’s duties to the Company as
required under this Agreement. 
 2. Term. The period of Executive’s employment under this Agreement is referred to
herein as the “Employment Term.” The Agreement shall have an initial term beginning on the Executive’s starting date of employment as mutually determined by Executive and the Chairman of the Board of the Company (the
“Effective Date”) through June 30, 2012 (“Initial Term”). At the end of the Initial Term and on each annual anniversary of such date thereafter, the Agreement automatically will renew for successive additional
one (1) year terms, unless either party provides the other party with written notice of non-renewal at least ninety (90) days prior to the date of the automatic renewal. 

3. At-Will Employment. The parties agree that Executive’s employment with the Company will be “at-will” employment
and may be terminated by either party at any time, effective immediately, upon written notice to the other party, with or without cause. However, as described in this Agreement, Executive may be entitled to severance benefits depending upon the
circumstances of his termination of employment. Executive understands and agrees that neither his job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification,
amendment, or extension, by implication or otherwise, of his employment with the Company. 
 4. Compensation. 

(a) Base Salary. During the Employment Term, the Company will pay Executive as compensation for his services a base salary at the
annualized rate of not less than $305,000, as adjusted from time to time as provided herein (the “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and will be
subject to standard federal, state and local withholding. Executive’s performance will be reviewed at least annually to determine if an increase in compensation is appropriate, which increase shall be in the sole discretion of the Company.

 (b) Starting Bonus. The Company will pay Executive a starting bonus of $50,000,
subject to the usual required withholding, within      days of the Effective Date of this Agreement. 
 (c)
Bonus. As additional compensation for services hereunder, Executive shall be eligible under the Company’s then current senior management incentive plan for an annual discretionary cash bonus of at least fifty per cent (50%) of
Executive’s then current Base Salary, to be determined by the Company’s Board or Compensation Committee thereof and contingent upon the Company’s and/or Executive’s achievement of objectives set by the Company from time to time.
Executive shall also be eligible to receive equity bonuses at such times and in such amounts as determined by the Board. All bonuses shall be in the discretion of the Board. 
 5. Employee Benefits. During the Employment Term, Executive will be entitled to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability
to other senior executives of the Company, as such plans and terms may exist from time to time, including, without limitation, group health insurance, 401(k), and equity incentive plans. The Company reserves the right to cancel or change the benefit
plans and programs it offers to its employees at any time. 
 6. Expenses. The Company will reimburse Executive for
reasonable travel, entertainment or other expenses incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in
effect from time to time. To the extent applicable, any reimbursement benefits shall comply with the requirements of Treasury Regulations Section 1.409A-3(i)(1)(iv). 
 7. Severance in Connection with a Change In Control. If Executive’s employment relationship with the Company is terminated within twelve months following a Change in Control (as defined
herein), Executive may be entitled to payment of severance in accordance with this Section 7. 
 (a) Termination Without
Cause; Termination for Good Reason. In the event that within twelve months following a Change in Control (i) Executive terminates his employment with the Company for Good Reason (as defined herein) or (ii) Executive is terminated by
the Company without Cause (as defined herein), Executive shall be entitled to receive the following severance benefits if Executive executes a general release, the standard form of which is attached hereto as Exhibit A, with such changes as
the Company may reasonably require (the “ Release Agreement ”), within the applicable time period set forth therein, but in no event later than forty-five (45) days following the date of Executive’s termination (such
latest permitted date is the “Release Agreement Deadline”), and permits the Release Agreement to become effective in accordance with its terms: 

(i) Base Salary; Accrued Vacation; Pro-Rated Incentive Bonus. Executive shall receive severance pay in an
amount equal to eighteen (18) months of the Base Salary (at the rate in effect immediately before the date of termination but not giving effect to any reduction that would give Executive the right to resign for Good Reason) paid in accordance
with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date, subject to the usual required
withholding, plus a pro-rated discretionary cash bonus under the Company’s then current senior management incentive plan as outlined in Section 4(c) herein. To the extent that all sums due pursuant to this Section 7(a)(i) have not
been paid by the 15 th day of the third month of the
calendar year following the calendar year during which the date of termination occurs, the remaining amount due will be paid on that date. 
 (ii) Acceleration of Vesting. As of the date of termination, Executive shall receive twelve (12) months of additional vesting of any unvested stock options in accordance with their applicable
vesting schedules as if Executive had remained in service for an additional twelve (12) months as of the date of termination. Executive shall also receive a cash payment equal to the value of any unvested 401(k) Company match amount.

  
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 (iii) COBRA Benefits. The Company shall pay the group health continuation coverage
premiums for Executive and Executive’s covered dependents under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended (“COBRA”), for a period of not less than eighteen (18) months from the date of
Executive’s termination of employment to the extent Executive is eligible for and elects such continuation coverage under COBRA. Notwithstanding the above, the Company shall only be responsible for the premiums for the same type of coverage in
which Executive participated at the time of his termination. 
 (iv) Notwithstanding any of the foregoing to the contrary,
Executive shall not receive the severance pay, pro-rated incentive bonus, or health care insurance reimbursement referenced above unless and until the Release Agreement becomes effective and can no longer be revoked under its terms. Amounts
otherwise payable prior to the Release Agreement’s effective date shall accrue and become payable on the first regularly scheduled pay date following the effective date of the Release Agreement. Notwithstanding any provisions in this Agreement
to the contrary, the Company’s obligations and Executive’s rights to severance benefits under this Section shall cease and be rendered a nullity immediately should Executive violate any provision of Executive’s Confidentiality
Agreement with the Company of even date herewith (the “Confidentiality Agreement”). 
 8. Severance Not in
Connection with a Change In Control. If Executive’s employment relationship with the Company is terminated without Cause or by Executive for Good Reason and Executive is not entitled to payment of severance in accordance with
Section 7, the provisions of this Section 8 will apply. 
 (a) Termination Without Cause; Termination for Good
Reason. In the event (i) Executive terminates his employment with the Company for Good Reason (as defined herein) or (ii) Executive is terminated by the Company without Cause (as defined herein), Executive shall be entitled to receive
the following severance benefits if Executive executes the Release Agreement within the applicable time period set forth therein, but in no event later than forty-five (45) days following the date of termination (such latest permitted date is
the “Release Agreement Deadline”), and permits the Release Agreement to become effective in accordance with its terms: 
 (i) Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to twelve (12) months of the Base Salary (at the rate in effect immediately before the date of
termination but not giving effect to any reduction that would give Executive the right to resign for Good Reason) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal
to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date, subject to the usual required withholding. To the extent that all sums due pursuant to this Section 8(a)(i) have not been paid by the
15 th day of the third month of the calendar year
following the calendar year during which the date of termination occurs, the remaining amount due will be paid on that date. 

(ii) Acceleration of Vesting. As of the date of termination, Executive shall receive twelve (12) months of additional
vesting of any unvested stock options in accordance with their applicable vesting schedules as if Executive had remained in service for an additional twelve (12) months as of the date of termination. Executive shall also receive a cash payment
equal to the value of any unvested 401(k) Company match amount. 
 (iii) COBRA Benefits. The Company shall pay the group
health continuation coverage premiums for Executive and Executive’s covered dependents under COBRA for a period of not less than twelve (12) months from the date of Executive’s termination of employment to the extent Executive
is eligible for and elects such continuation coverage under COBRA. Notwithstanding the above, the Company shall only be responsible for the premiums for the same type of coverage in which Executive participated at the time of his termination.

  
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 (iv) Notwithstanding any of the foregoing to the contrary, Executive shall not receive the
severance pay or health care insurance reimbursement referenced above unless and until the Release Agreement becomes effective and can no longer be revoked under its terms. Amounts otherwise payable prior to the Release Agreement’s effective
date shall accrue and become payable on the first regularly scheduled pay date following the effective date of the Release Agreement. Notwithstanding any provisions in this Agreement to the contrary, the Company’s obligations and
Executive’s rights to severance benefits under this Section shall cease and be rendered a nullity immediately should Executive violate any provision of the Confidentiality Agreement. 

(b) Voluntary Termination; Termination for Cause. If Executive’s employment with the Company is terminated voluntarily by
Executive without Good Reason or Executive is terminated for Cause by the Company, he will not receive severance pay, paid COBRA benefits, or any other similar compensation. 
 (c) Dissolution, Liquidation or Insolvency of the Company. Notwithstanding the above, in the event Executive’s employment is terminated by the Company in connection with or as a result of the
liquidation, dissolution, insolvency or other winding up of the affairs of the Company without the establishment of a successor entity to the Company, the Company shall have no obligation to provide severance or further financial consideration to
Executive except for any reasonable expense reimbursements or base salary that Executive has accrued and earned at the time of such termination. 
 (d) Death or Disability. Executive’s employment and this Agreement shall automatically terminate, and Executive will receive the severance pay, acceleration of vesting, benefits and other
compensation set forth in Section 8(a) above (i) upon Executive’s death or (ii) in the event of any Complete Disability, as defined in Section 9. If Executive is entitled to long-term disability insurance benefits under a
long-term disability insurance plan for which the Company paid the insurance premiums, any amounts due pursuant to this Section 8(d) shall be reduced by the maximum amount of such benefits. 

9. Definitions. 
 (a) Cause. For purposes of this Agreement, “Cause” is defined as follows: 
 (i) an act of embezzlement, theft, or fraud by Executive with respect to the Company or any of its affiliates; 
 (ii) Executive’s conviction of, or plea of nolo contendere to, a felony or any other crime involving moral turpitude (excluding traffic offenses); 

(iii) Executive’s (A) repeated gross negligence or willful misconduct in the performance of his employment duties and
responsibilities to the Company (other than as a result of a disability) or (B) refusal to comply with the directives of the Board, provided that such gross negligence, willful misconduct or refusal to comply with the directives of the Board
shall only constitute Cause after Executive has received a written notice from the Company or the Board which specifically sets forth the factual basis for the Company’s belief that Executive’s actions or inactions constitute Cause and
Executive has been provided with a reasonable opportunity of not less than thirty (30) days to cure, to the reasonable satisfaction of the Board, any alleged gross negligence, willful misconduct or refusal to comply with the directives of the
Board; or 
 (iv) Executive’s material breach of this Agreement or the Confidentiality Agreement. 

  
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 (b) Change in Control. For purposes of this Agreement, “Change in
Control” is defined as follows: 
 (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the
Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the
Company’s then outstanding voting securities; or 
 (ii) the consummation of the sale or disposition by the Company of all
or substantially all of the Company’s assets; or 
 (iii) a change in the composition of the Board occurring within a
two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the Effective Date, or (B) are elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination, but will neither include an individual whose election or nomination is done by a competing
proxy solicitation nor any existing Director who sponsors any such competing proxy solicitation ; or 
 (iv) the consummation
of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its
parent outstanding immediately after such merger or consolidation. 
 (c) Complete Disability. For purposes of this Agreement,
Executive’s “Complete Disability” means Executive has been determined to be eligible for benefits under the Company’s long-term disability benefits plan. If the Company has no long-term disability benefits plan, “Complete
Disability” means Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months as determined by a qualified physician selected by the Board. 
 (d) Good Reason. For
purposes of this Agreement, “Good Reason” shall mean Executive’s voluntary termination of his employment after the occurrence of any of the following without the express written consent of Executive: 

(i) a non-voluntary material reduction in Executive’s annualized Base Salary that is not part of a general reduction of salary or
other concessionary arrangement affecting all employees of the Company or affecting all senior executive officers of the Company; 
 (ii) a requirement by the Company or the Board that Executive be relocated to a Company office more than fifty (50) miles from Roanoke, Virginia; or 

(iii) any material breach by the Company of any of its obligations hereunder; provided, however that in order for Executive’s
termination of his employment to qualify as a voluntary termination for “Good Reason,” (i) Executive must provide the Company with written notice within sixty (60) days of the event(s) that Executive believes constitutes
“Good Reason” specifically identifying the acts or omissions constituting the grounds for Good Reason, (ii) the Company must have failed to cure such Good Reason acts or omissions within thirty (30) days following the date of
such notice (the “Cure Period”), and (iii) Executive’s voluntary termination occurs within thirty (30) days following the expiration of the Cure Period. 

  
 5 

 10. Confidentiality Agreement. As of even date herewith, Executive has entered into
and agrees to continue to abide by the terms of the Confidentiality Agreement. To the extent the terms of this Agreement are inconsistent with the terms of the Confidentiality Agreement, the terms of this Agreement shall control. The terms and
conditions of the Confidentiality Agreement are incorporated herein by reference. 
 11. Excise Tax Adjustment.
Notwithstanding any of the foregoing to the contrary, in the event that the severance and other benefits provided for in this Agreement or otherwise payable to Executive (i) constitute “parachute payments” within the meaning of
Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this Section, would be subject to the excise tax imposed by Section 4999 of the Code, then Executive’s severance
benefits under this Agreement shall be payable either (A) in full, or (B) as to such lesser amount which would result in no portion of such severance benefits being subject to excise tax under Section 4999 of the Code, whichever of
the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount of severance benefits
under this Agreement, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Unless the Company and Executive otherwise agree in writing, any determination required under this Section
shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the
calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the
Code. The Company and Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. The Company shall bear all costs the Accountants may
reasonably incur in connection with any calculations contemplated by this Section 11. Any reduction in payments and/or benefits required by this Section 11 shall occur in the following order: (1) reduction of cash payments;
(2) reduction in vesting acceleration of equity awards; and (3) reduction of other benefits paid or provided to Executive. In the event that acceleration of vesting of equity awards is to be reduced, such acceleration of vesting shall be
cancelled in the reverse order of the date of grant for Executive’s equity awards. If two or more equity awards are granted on the same date, each award will be reduced on a pro-rata basis. 

12. Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal
representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes and shall assume in
writing and be bound by all of the Company’s obligations under this Agreement. For this purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise,
directly or indirectly acquires all or substantially all of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will
or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void. 

13. Notices. All notices, requests, demands and other communications called for hereunder shall be in writing and shall be deemed
given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well established commercial overnight service, or (iii) four (4) days after being mailed by registered or certified mail,
return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

  
 6 

 If to the Company: 

Luna Innovations Incorporated 
 One Riverside Circle, Suite 400 
 Roanoke, Virginia 24016 

Attn: General Counsel 
 If to Executive: 
 At the last residential address known by the Company.

 14. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 
 15.
Arbitration. To ensure the rapid and economical resolution of disputes that may arise in connection with Executive’s employment with the Company, Executive and the Company agree that any and all disputes, claims, or causes of action, in
law or equity, arising from or relating to the enforcement, breach, performance, or interpretation of this Agreement, Executive’s employment, or the termination of Executive’s employment, shall be resolved, to the fullest extent permitted
by law, by final, binding and confidential arbitration in Roanoke, Virginia, conducted by the Judicial Arbitration and Mediation Services, Inc. (“JAMS”) or its successor, under the then applicable rules of JAMS. Executive and the
Company acknowledge that by agreeing to this arbitration procedure, each party waives the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. The arbitrator shall: (a) have the authority to compel
adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a
statement of the award. The arbitrator shall be authorized to award any or all remedies that Executive or the Company would be entitled to seek in a court of law. Nothing in this Agreement is intended to prevent either Executive or the Company from
obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue or dispute arising under the
Confidentiality Agreement by court action instead of arbitration. 
 16. Entire Agreement. This Agreement and the
Confidentiality Agreement collectively represent the entire agreement and understanding between the parties as to the subject matter herein and therein and together supersede all prior or contemporaneous agreements whether written or oral. No
waiver, alteration, amendment or modification of any of the provisions of this Agreement or of the Confidentiality Agreement will be binding unless it is in writing and is signed by the person or party to be charged. The Chairman of the Board is the
only person with authority to act on behalf of the Company with respect to such matters under this Agreement. 
 17. Tax
Matters. 
 (a) Withholding. All payments made pursuant to this Agreement will be subject to withholding of
applicable taxes. 
 (b) Section 409A Compliance. 

(i) Notwithstanding anything to the contrary herein, the following provisions apply to the extent severance benefits provided herein are
subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and other guidance thereunder and any state law of similar effect (collectively
“Section 409A”). Severance benefits shall not commence until Executive has 

  
 7 

 
a “separation from service” for purposes of Section 409A. Each installment of severance benefits is a separate “payment” for purposes of Treas. Reg.
Section 1.409A-2(b)(2)(i), and the severance benefits are intended to satisfy the exemptions from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4) and 1.409A-1(b)(5). However, if such exemptions are
not available and Executive is, upon separation from service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under Section 409A, the timing of
the severance benefits payments shall be delayed until the earlier of (i) six (6) months and one day after Executive’s separation from service, or (ii) Executive’s death. Additionally, if the severance benefits are not
covered by one or more exemptions from the application of Section 409A and the Release Agreement could become effective in the calendar year following the calendar year in which Executive separates from service, the Release Agreement will not
be deemed effective any earlier than the Release Agreement Deadline. 
 (ii) The foregoing provisions are intended to comply
with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder shall be subject to the additional tax imposed under Section 409A, and any ambiguities herein shall be interpreted to so
comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income
recognition prior to actual payment to Executive under Section 409A. 
 18. Governing Law. This Agreement will be
governed by the laws of the Commonwealth of Virginia, without regard to its conflict of laws principles. 
 19.
Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of
this Agreement, and is knowingly and voluntarily entering into this Agreement. 
 20. Resignation from the Board.
Executive understands and agrees that if he is a member of the Board at the time his employment with the Company terminates, whether with or without cause and whether voluntary or involuntary, and as a further condition of his receipt of any
severance benefits to which he otherwise might be entitled under this Agreement, he will submit his resignation as a member of the Board effective as of his last day of employment. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned parties have caused this Agreement to be executed as of the date
first set forth above. 
  

							
	MY CHUNG	 		 	LUNA INNOVATIONS INCORPORATED
				
	 /s/ My Chung
	 		 	By:	 	 /s/ Richard Roedel

	Signature	 		 	Signature
			
	 My Chung
	 		 	 Richard Roedel

	Print Name	 		 	Print Name
			
		 		 	 Chairman

		 		 	Print Title

 [Signature Page to Employment Agreement] 

  
 9

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