Document:

<PAGE>   1
                                                                    EXHIBIT 10.6
                                 LUMINENT, INC.

                             STOCK OPTION AGREEMENT

        This Stock Option Agreement ("Agreement") is made effective as of the
11th day of July, 2000 by and between Luminent, Inc. (the "Company") and Eric I.
Blachno (the "Optionee").

                                    RECITALS

        WHEREAS, the Company has retained Optionee as its Chief Financial
Officer;

        WHEREAS, the Company believes it to be in its best interest to, and has
agreed to grant Optionee an option to purchase shares of Common Stock of the
Company;

        WHEREAS, Optionee, in consideration of, among other things, the grant of
this option, has accepted the Company's offer of employment on the terms set
forth in that certain Letter Agreement dated July 11, 2000 from the Company and
MRV Communications, Inc. to Optionee (the "Letter Agreement").

                                    AGREEMENT

        NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants set forth herein and other good and valuable consideration, the
parties hereto agree as follows:

        1. The Option(s). The Optionee may, at his option, purchase all or any
part of an aggregate of 800,000 shares of Common Stock (the "Optioned Shares"),
at the price of $6.25 per share (the "Option Price"), on the terms and
conditions set forth herein.

        2. Exercise Dates and Exercise. The Option(s) shall be exercisable as to
all or any portion of the specified number of Optioned Shares at any time or
from time to time on and after the "First" dates set forth below (when such
Option(s) shall respectively accrue and become vested), and on or before the
"Last" dates (the Option Expiration Date) set forth below:

[25% of Number of Shares] September 7, 2000 to July 10, 2010

[25% of Number of Shares] July 11, 2001 to July 10, 2010

[25% of Number of Shares] July 11, 2002 to July 10, 2010

[25% of Number of Shares] July11, 2003 to July 9, 2010

        Optionee acknowledges that he understands he has no right whatsoever to
exercise the Option(s) granted hereunder with respect to any Optioned Shares
covered by any installment until such installment accrues and vests as provided
above and that all unaccrued installments shall cease to accrue on the date of
termination of Optionee's employment with the Company, except as may otherwise
be provided in the Letter Agreement. Optionee further understands that

<PAGE>   2

the Option(s) granted hereunder shall expire and become unexercisable as
provided in Section 3 below.

        This Option shall be deemed exercised as to the shares to be purchased
when written notice of such exercise has been given to the Company at its
principal business office by the Optionee with respect to the Common Stock to be
purchased. Such notice shall be accompanied or preceded by full payment in cash
or cash equivalents of the Option Price or by a notification in customary form
of the use by Optionee of a broker-assisted cashless exercise procedure.

        3. Early Exercise and/or Termination. Notwithstanding the provisions of
Section 2, this Option shall be exercisable after a Change of Control or Sale of
the Company (as such terms are defined in the Letter Agreement) or a termination
of Optionee's employment with the Company only at the times, to the extent, and
on the terms and conditions set forth in the Letter Agreement.

        4. Representations and Warranties; Registration of Shares Underlying
Options. Optionee represents and warrants to the Company as follows:

               (a) He understands that neither the Option evidenced by this
        Agreement nor the Optioned Shares have been registered under the
        Securities Act of 1933, as amended (the "Act"), and are not freely
        tradable. The securities must be held indefinitely unless either a
        registration statement with respect to the securities is filed and
        declared effective under the Act or an exemption from the registration
        requirement of the Act is available.

               (b) He understands that the Company has no obligation to register
        any or all the Optioned Shares under the Act for distribution, except as
        otherwise provided in the Letter Agreement.

               (c) He acknowledges that as a condition to the exercise of any
        portion of this Option, the Company may require the Optionee to make any
        representation and/or warranty to the Company as may, in the reasonable
        judgment of counsel to the Company, be required under any applicable law
        or regulation, including but not limited to a representation and
        warranty that the Optioned Shares are being acquired only for investment
        and without any present intention to sell or distribute such shares if,
        in the opinion of counsel for the Company, such a representation is
        required under the Act or any other applicable law, regulation or rule
        of any governmental agency; provided, however, that in accordance with
        the provisions of the Letter Agreement, the Company shall use its best
        efforts (including without limitation the timely filing of a
        registration statement under the Act and any registration or
        qualification required by applicable state securities laws) to achieve
        compliance with the Act or such other law, regulation or rule, as
        applicable, without requiring any such representation or warranty by
        Optionee. The Option and the Optioned Shares are being acquired for
        investment for Optionee's own account and not with a view to sale or
        resale, distribution (as that term is defined in the Act), or transfer,
        or to offers in connection therewith.

               (d) He is an "accredited investor" as such term is defined in
        Rule 501(a) of Regulation D under the Act, and has such knowledge and
        experience in financial and

                                      -2-

<PAGE>   3

        business matters as to be able to evaluate the merits and risks of the
        acquisition of the securities, and, having had access to, or having been
        furnished with, all such information as he considers necessary, has
        concluded that he is able to bear those risks.

               (e) He acknowledges that the Company will, to the extent
        determined by the Company's legal counsel to be required by applicable
        law, affix a legend in substantially the following form to the
        certificates evidencing the Optioned Shares:

               The securities represented by this certificate have not been
               registered under the Securities Act of 1933, as amended, and may
               not be sold, pledged, hypothecated, donated, or otherwise
               transferred, whether or not for consideration, unless either the
               securities have been registered under said Act or an exemption
               from such registration requirement is available. If the Shares
               are to be sold or transferred pursuant to an exemption from the
               registration requirement, the Company may require a written
               opinion of counsel, reasonably satisfactory to counsel for
               Company, to the effect that registration is not required.

        The Company shall without charge offer to substitute an unlegended
        certificate for any legended certificate promptly after the Optioned
        Shares represented by such legended certificate first become eligible
        for sale by Optionee pursuant to Rule 144(k) (or any successor
        provision) under the Act.

               (f) Prior to any proposed sale, pledge, hypothecation, gift, or
        other transfer, for value or otherwise, of any or all of the Option
        evidenced by this Agreement or the Optioned Shares or of any interest
        therein other than a sale in compliance with the requirements of Rule
        144 under the Act (hereinafter, a "Transfer"), Optionee shall give
        written notice to the Company describing the Transfer. Optionee shall
        not effect any Transfer unless and until (a) the Company receives an
        opinion of Optionee's counsel, in form and substance reasonably
        acceptable to counsel for the Company, that the Transfer may be effected
        without registration under the Act and without registration or
        qualification under applicable state securities laws, (provided,
        however, that no such opinion shall be required in connection with any
        bona fide gift of the Optioned Shares to a member of Optionee's
        immediate family or a charitable or educational institution), and (b)
        satisfaction of such other conditions as may be reasonably required by
        counsel to the Company in order to assure compliance with the Act and
        with applicable state securities laws.

        5. No Enlargement of Rights. Nothing in this Agreement shall be
construed to confer upon the Optionee any right to continued engagement by the
Company or to restrict in any way the right of the Company to terminate its
arrangement with Optionee subject to the terms of the Letter Agreement or any
other applicable agreement between them.

        6. Withholding of Taxes. Optionee authorizes the Company to withhold, in
accordance with any applicable law, from any amounts payable to Optionee any
taxes required to be withheld by federal, state or local law as a result of the
grant of the Option(s) or the issuance of stock pursuant to the exercise of such
Option(s).

                                      -3-

<PAGE>   4

        7. Laws Applicable to Construction; Choice of Jurisdiction and Forum.
This Agreement shall be construed and enforced in accordance with the laws of
the State of California, without reference to the conflict of laws provisions of
any jurisdiction. The parties hereby submit to the exclusive jurisdiction of and
venue in the state courts of the State of California or the federal courts
located within or the Central District of California with respect to any
disputes concerning the subject matter of this agreement.

        8. Agreement Binding on Successors. The terms of this Agreement shall be
binding upon the executors, administrators, heirs, successors, transferees and
assignees of the Optionee. The terms of this Agreement shall be binding upon the
successors of the Company.

        9. Necessary Acts. The Optionee agrees to perform all acts and execute
and deliver any documents that may be reasonably necessary to carry out the
provisions of this Agreement, including but not limited to all acts and
documents related to compliance with federal and/or state securities laws;
provided, however, that the Company shall use its best efforts to achieve
compliance with such securities laws without any action by Optionee.

        10. Counterparts. For convenience this Agreement may be executed in any
number of identical counterparts, each of which shall be deemed a complete
original in itself and may be introduced in evidence or used for any other
purpose without the production of any other counterparts.

        11. Invalid Provisions. In the event that any provision of this
Agreement is found to be invalid or otherwise unenforceable under any applicable
law, such invalidity or unenforceability shall not be construed as rendering any
other provisions contained herein invalid or unenforceable, and all such other
provisions shall be given full force and effect to the same extent as though the
invalid and unenforceable provision was not contained herein.

        12. Adjustments upon Changes in Capitalization. If the outstanding
shares of Common Stock of the Company are increased, decreased, changed into or
exchanged for a different number or kind of shares of the Company through
reorganization, recapitalization, reclassification, stock dividend, stock split
or reverse stock split or other similar event, then an equitable and
proportionate adjustment shall be made in the number or kind of shares which may
be issued upon exercise of the Options granted under this Agreement.

        13. Options Not Transferable. This Option may be exercised during the
lifetime of the Optionee only by the Optionee. The Optionee's rights and
interests under this Agreement and in and to the Option may not be sold,
pledged, hypothecated, assigned, encumbered, gifted or otherwise transferred in
any manner, either voluntarily or involuntarily by operation of law, except by
will or the laws of descent or distribution.

                                      -4-
<PAGE>   5

        IN WITNESS WHEREOF, the Company and the Optionee have executed this
Agreement effective as of the date first written hereinabove.

The Company

LUMINENT, INC.

By       /s/ Noam Lotan
  ----------------------------

Name:     Noam Lotan
     -------------------------

Its:       Chairman
    --------------------------

Luminent, Inc.
20550 Nordhoff Street
Chatsworth, California 91311

Optionee

       /s/ Eric Blachno
---------------------------------
          Eric I. Blachno

Eric I. Blachno
11542 North Poema Place, #203
Chatsworth, CA 91311
Social Security No. ###-##-####

                                      -5-<PAGE>   1

                                                                 EXHIBIT 10.10

July 26, 2000

William R. Spivey
6096 Carlisle Lane
Alpharetta, GA 30022

Dear Bill:

The purpose of this letter is to confirm the agreement reached between Luminent,
Inc. (the "Company") and you regarding the modification of your employment
agreement as set forth in that certain letter agreement by and among MRV
Communications, Inc., the Company and you dated July 11, 2000 (the "Letter
Agreement"). Capitalized terms not otherwise defined herein shall have the same
meanings as defined in the Letter Agreement.

We agreed that the section of the Letter Agreement entitled "Company Stock
Options" would be amended to read in its entirety as follows:

         "Company Stock Options. Upon joining the Company, you will also be
         granted options to purchase shares of the Company's common stock
         ("Company Options") in an amount equal to three percent (3%) of number
         of common shares outstanding on a fully-diluted basis immediately prior
         to the Company's initial public offering of its common stock (the
         "IPO"). Thus, for example, assuming our targeted total number of
         160,000,000 shares to be outstanding prior to the IPO on a
         fully-diluted basis, your Company Options would equal the right to
         purchase 4,800,000 shares of the Company. All your Company Options will
         have an exercise price per share equal to the lower of (i) 60% of the
         IPO price per share (as defined below), or (ii) an amount calculated by
         dividing One Billion Dollars by the number of Luminent shares
         outstanding on a fully diluted basis prior to the IPO, will vest
         (become exercisable) at the rate of 25% per year commencing with your
         hire date, will have a term of 10 years (unless sooner terminated as a
         result of the termination of your employment) and will not be
         transferable in any manner, either voluntarily or involuntarily by
         operation of law, except by will or the laws of descent or
         distribution. For purposes of this paragraph, the "IPO price per share"
         shall mean the low end of the offering price range reflected in the
         first filing of the IPO registration statement (or an amendment
         thereto) in which an offering price range is reflected."

Except as so amended all of the terms of the Letter Agreement shall remain in
full force and effect.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}]]