Document:

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                                                                    EXHIBIT 10.3

On August 31, 2006, Wright Express Corporation (the "Company") purchased put
option contracts and sold call option contracts, designed to be a costless
collar, on the retail price of diesel fuel with Bank of America, N.A. and on the
wholesale price of gasoline with J. Aron & Company (collectively, the
"Contracts"). The Contracts have an aggregate notional amount of approximately
11.2 million gallons of gasoline and diesel fuel and will expire on a monthly
basis during the first, second and third quarters of 2008. The settlement of the
Contracts is based upon the New York Mercantile Exchange's New York Harbor
Reformulated Gasoline Blendstock for Oxygen Blending and the U.S. Department of
Energy's weekly retail on-highway national U.S. average diesel price for the
month. The Contracts lock in a weighted average retail floor price of
approximately $2.65 per gallon and a weighted average retail ceiling price of
approximately $2.71 per gallon.

Following is the form of confirmation evidencing the purchase and sale by the
Company of the put and call option contract from and to Bank of America, N.A. on
the diesel fuel. The form of confirmation for the purchase of the gasoline
option is filed as Exhibit 10.18 to the Company's quarterly report on Form 10-Q
filed with the Securities and Exchange Commission on October 27, 2005, File No.
001-32426.

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Bank of America, N.A.
233 South Wacker Drive, Suite 2800
Chicago, IL  60606

DATE:                        SEPTEMBER 1, 2006

TO:                          WRIGHT EXPRESS CORPORATION
ATTN:                        ____________
FAX NO:                      ____________

FROM:                        BANK OF AMERICA, N.A.
ATTN:                        COMMODITIES
FAX NO:                      ____________
TEL NO:                      ____________

TRANSACTION REF. NO.:        ____________

Dear Sir/Madam;

The purpose of this letter agreement is to confirm the terms and conditions of
the Transaction entered into between Wright Express Corporation (Party "B") and
Bank of America, N.A. (Party "A") (each a "Party" and together "the Parties") on
the Trade Date specified below (the "Transaction"). This letter agreement
constitutes a "Confirmation" as referred to in the ISDA Master Agreement
specified below (the "Agreement").

The definitions and provisions contained in the 2005 ISDA Commodity Definitions,
as published by the International Swaps and Derivatives Association, Inc., (the
"Definitions") are incorporated into this Confirmation. In the event of any
inconsistency between the Definitions and this Confirmation, this Confirmation
will govern.

This Confirmation supplements, forms part of, and is subject to, the ISDA Master
Agreement dated as of April 20, 2005 as amended and supplemented from time to
time between the parties. All provisions contained in the Agreement govern this
Confirmation except as expressly modified below.

The terms of the particular Transaction to which this Confirmation related are
as follows:

      Notional Quantity per Calculation See       Schedule A
      Period:

      Total Notional Quantity:                    ____________Gallons

      Commodity:                                  ____________

      Trade Date:                                 ____________

      Effective Date:                             ____________

      Termination Date:                           ____________

      Put Seller/Call Buyer:                      Party A

      Put Buyer/Call Seller:                      Party B

      Option Style:                               Asian

      Option Type:                                Collar

<PAGE>

      Calculation Period:            Monthly, from and including ____________ to
                                     and including ____________

      Commodity Reference Price:     DIESEL FUEL - ON - HIGHWAY - ENERGY
                                     INFORMATION ADMINISTRATION

      Specified Price:               For each Calculation Period, the Floating
                                     Price shall be calculated as the arithmetic
                                     average of the weekly mean price per gallon
                                     for Retail On - Highway Diesel Fuel, as
                                     published by the Energy Information
                                     Administration (statistical price agency
                                     for the U.S. Department of Energy) under
                                     the column, "National - U.S. AVG."

      Pricing Dates:                 Each Commodity Business Day in the relevant
                                     Calculation Period

      Call Strike Price:             USD ____________ per Gallon

      Put Strike Price:              USD ____________ per Gallon

PROCEDURE FOR EXERCISE

      Expiration Date(s):            In respect of a Calculation Period, the
                                     final Pricing Date of that Calculation
                                     Period

      Automatic Exercise:            Applicable

      Cash Settlement:               Applicable

      Settlement Date(s):            Monthly, Five (5) Business Days following
                                     each Expiration Date

      Business Day:                  New York

      Calculation Agent:             As per the agreement

ROUNDING:

All amounts resulting from the calculation of the Floating Price(s) shall be
rounded as follows:

(a)   If the relevant unit of measure is MMBtus or Gallons, then the Floating
      Price shall be rounded to the nearest four decimal places (with 0.00005
      being rounded upwards (e.g.0.33334 being rounded down to 0.3333 and
      0.33335 being rounded up to 0.3334)).

(b)   If the relevant unit of measure is Barrels, Metric Tonnes or MWh then the
      Floating Price shall be rounded to the nearest three decimal places (with
      0.0005 being rounded upwards (e.g.0.3334 being rounded down to 0.333 and
      0.3335 being rounded up to 0.334)).

(c)   If the relevant unit of measure is Therms and Cubic Metres, then the
      Floating Price shall be rounded to the nearest five decimal places (with
      0.000005 being rounded upwards (e.g. 0.333334 being rounded down to
      0.33333 and 0.333335 being rounded up to 0.33334)).

(d)   If the relevant unit of measure is Hectolitres, then the Floating Price
      shall be rounded to the nearest two decimal places (with 0.005 being
      rounded upwards (e.g. 0.334 being rounded down to 0.33 and 0.335 being
      rounded up to 0.34)).

RECORDING OF CONVERSATIONS:

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Each party to this Transaction acknowledges and agrees to the tape recording of
conversations between the parties to this Transaction whether by one or other or
both of the parties or their agents, and that any such tape recordings may be
submitted in evidence in any Proceedings relating to the Agreement and/or this
Transaction.

ACCOUNT DETAILS:

Payments to Party A:   Please see invoice for settlement instructions

Payments to Party B:   Please see invoice for settlement instructions

Please confirm that the foregoing correctly sets forth the terms and conditions
of our agreement by responding within three (3) Business Days of receipt of this
Confirmation by returning via telecopier an executed copy of this Confirmation
in its entirety to the attention of Global FX and Derivative Operations, fax #:
1-866-204-4836.

Failure to respond within such period shall not affect the validity or
enforceability of this Transaction, and shall be deemed to be an affirmation of
the terms and conditions contained herein, absent manifest error.

<PAGE>

                                   SCHEDULE A

<TABLE>
<CAPTION>
CACLULATION PERIOD                NOTIONAL QUANTITY PER CALCULATION PERIOD (GAL)
-----------------------------     ----------------------------------------------
<S>                               <C>
________________                  ___________________
________________                  ___________________
________________                  ___________________
________________                  ___________________
</TABLE>

YOURS SINCERELY,            ACCEPTED AND CONFIRMED AS OF THE DATE FIRST WRITTEN:

BANK OF AMERICA, N.A.       WRIGHT EXPRESS CORPORATION

/s/ Dave Walker             /s/ Greg Strzegowski
-------------------------   ----------------------------------------------------
Dave Walker                 Name: Greg Strzegowski
Senior Vice President       Title: VP and Controller

                            ____________________________________________________George E. Durstin
Senior Vice President
777 Main Street
Hartford, CT 06115
CT-102-19-01
860.952.6770 tel
860.952.6775 fax

November 14, 2006

Mr. Richard A. Zaremba, CPA
Sr. Vice President and Chief Financial Officer
1938 New Highway
Farmingdale, New York 11735

RE:    Loan and Security Agreement dated January 18, 2002 by and between
       Misonix, Inc. and Fleet National Bank, as amended.

Dear Mr. Zaremba,

         You have indicated in your November 9, 2006 correspondence that Misonix
is not in compliance with paragraphs 9.26(b), 9.26(c) and 9.26(e) for the period
ending September 30, 2006 and have requested that the bank grant a waiver for
the referenced period. The bank hereby grants the waiver as provided below.

         The waiver herein is limited to the waiver of paragraphs 9.26(b),
9.26(c) and 9.26(e) of the Agreement for the period ending September 30, 2006
only; this waiver agreement shall not be construed to waive any other provision
of the Agreement, or to waive compliance of the above referenced paragraphs for
any other period other than as provided herein, or to waive any default under
the Agreement or related documents which has occurred or shall occur.

         As an inducement to the bank entering this waiver agreement, you
represent and warrant that the representations and warranties set forth in the
Agreement and related documents are true and correct in all material respects,
(b) no event has occurred and is continuing, which constitutes an "Event of
Default" under the Agreement and/or related documents, (c) you are in compliance
in all material respects with the covenants and agreements set forth in the
Agreement and (d) upon receipt of this waiver agreement, you will pay to the
bank a fee of $5,000.00. All other provisions of the Agreement remain unmodified
and are in full force and effect.

         Please return an executed copy of this Agreement to my attention along
with a check in the amount of $5,000.00 payable to Bank of America.

Very truly yours,

/s/ George E. Durstin
George E. Durstin

Acknowledged and agreed

/s/ Richard A. Zaremba          11/14/06
----------------------------------------
Misonix, Inc.
Richard A. Zaremba
Senior Vice President and Chief Financial Officer

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