Document:

<PAGE>

                                                                   Exhibit 10.10

                  FIRST AMENDMENT TO LEASE AGREEMENT BETWEEN
                      BRAKER PHASE III, LTD. AS LANDLORD,
              AND MAGNETIC BEARING TECHNOLOGIES, INC., AS TENANT

          To be attached to and form a part of Lease made the 12th day
          of March, 1996 (which together with any amendments,
          modifications and extensions thereof, is hereinafter called
          the Lease), between Landlord and Tenant, covering a total of
          4,050 square feet and located at 11525 Stonehollow Drive,
          Suite 135, Austin, Texas, 78758 known as Braker Center III,
          Building 1.

       WITNESSETH that:

1.     Effective August 1, 1996 and expiring May 31, 2001, the demised premises
       shall contain, in addition to the approximately 4,050 square feet
       originally demised, an additional area, hereinafter called the "new
       space", containing approximately 4,050 square feet adjacent thereto (see
       Exhibit "A" attached hereto), thus making the aggregate area of the
       demised premises approximately 8,100 square feet. *

2.     Landlord shall provide a maximum tenant finish allowance of Twelve and
       No/00 Dollars ($12.00) per square foot or Forty-eight Thousand Six
       Hundred and NO/100 Dollars ($48,600.00) for the additional area of 4,050
       square feet. This allowance is inclusive of all costs associated with the
       finish-out and is an absolute maximum. Any finish-out dollars required
       over and above the finish-out allowance of Twelve and No/00 Dollars
       ($12.00) per square foot or Forty-eight Thousand Six Hundred and NO/100
       Dollars ($48,600.00) will be the sole responsibility of the Tenant.

3.     The monthly base rental shall be structured as follows:

<TABLE>
<CAPTION>
     =====================================================================================
                                                                            Base Total
                                  Existing Space        New Space             Rental
         Lease Period                 4,050               4,050                Rate
     -------------------------------------------------------------------------------------
      <S>                         <C>                  <C>                  <C>
     -------------------------------------------------------------------------------------
      5/6/96 thru 7/31/96            $3,313.60                  0           $3,313.60
     -------------------------------------------------------------------------------------
      8/1/96 thru 5/31/97            $3,313.60          $2,551.50           $5,865.10
     -------------------------------------------------------------------------------------
      6/1/97 thru 5/31/98            $3,516.10          $2,551.50           $6,067.60
     -------------------------------------------------------------------------------------
      6/1/98 thru 5/31/99            $3,718.60          $2,551.50           $6,270.10
     -------------------------------------------------------------------------------------
      6/1/99 thru 5/31/00            $3,921.10          $2,551.50           $6,472.60
     -------------------------------------------------------------------------------------
      6/1/00 thru 5/31/01            $4,123.60          $2,551.50           $6,675.10
     =====================================================================================
</TABLE>

4.     Except as herein and hereby modified and amended the Agreement of Lease
       shall remain in full force and effect and all the terms, provisions,
       covenants and conditions thereof are hereby ratified and confirmed.

             DATED AS OF THE ______ DAY OF ________________, 19__.

WITNESS:                           BRAKER PHASE III, LTD.:
                                   By:    2800 Industrial, Inc., General Partner

/s/                                /s/ Richard E. Anderson
-----------------------------      ---------------------------------------------
                                   By:    Richard E. Anderson
                                   Title: Vice President

WITNESS:                           MAGNETIC BEARING TECHNOLOGIES, INC.

/s/                                /s/ Joseph F. Pinkerton
-----------------------------      -------------------------------------------
                                   By:    Joseph F. Pinkerton
                                   Title: President
<PAGE>

* Effective date of Amendment shall begin no sooner than the date upon which the
improvements to the Premises of the "new space" have been substantially
completed in accordance with the plans and specifications described in Exhibit B
or the date on which the new space would have been substantially completed if
not for delay caused directly by Tenant, including Plan delays or change orders.

                                       2<PAGE>

                                                                   Exhibit 10.11

                  SECOND AMENDMENT TO LEASE AGREEMENT BETWEEN
                      BRAKER PHASE III, LTD. AS LANDLORD,
              AND MAGNETIC BEARING TECHNOLOGIES, INC., AS TENANT

                To be attached to and form a part of Lease made the
                12th day of March, 1996 (which together with any
                amendments, modifications and extensions thereof, is
                hereinafter called the Lease), between Landlord and
                Tenant, covering a total of 8,100 square feet and
                located at 11525 Stonehollow Drive, Suite 135, Austin,
                Texas, 78758 known as Braker Center III, Building 1.

         WITNESSETH that:

   1.    The Commencement Date shall be May 6, 1996, and shall expire Sixty (60)
         months thereafter on Maya 31, 2001.

   2.    Effective September 1, 1996 and expiring May 31, 2001, the monthly base
         rental rate shall be structured as follows:

               =======================================================
                    Lease Period                   Base Total Rental
                                                    Rate Per Month
               -------------------------------------------------------

               -------------------------------------------------------
                 9/1/96 thru 5/31/97                   $6,025.10
               -------------------------------------------------------
                 6/1/97 thru 5/31/98                   $6,227.60
               -------------------------------------------------------
                 6/1/98 thru 5/31/99                   $6,430.10
               -------------------------------------------------------
                 6/1/99 thru 5/31/00                   $6,632.60
               -------------------------------------------------------
                 6/1/00 thru 5/31/01                   $6,835.10
               =======================================================

   3.    The Lease expressly refers to Tenant as "Magnetic Bearing Technologies,
         Inc. The Tenant's name has been changed to "Active Power, Inc.. The
         Lease and all related documents are hereby amended such that all
         references to "Tenant" or "Magnetic Bearing Technologies, Inc." will
         translate to mean "Active Power, Inc.".

   4.    Except as herein and hereby modified and amended the Agreement of Lease
         shall remain in full force and effect and all the terms, provisions,
         covenants and conditions thereof are hereby ratified and confirmed.

             DATED AS OF THE 1st DAY OF September, 1996.
                             ---        ---------    --

   WITNESS:                         BRAKER PHASE III, LTD.:
                                    By:  2800 Industrial, Inc., General Partner

/s/                                 /s/ Richard E. Anderson
---------------------------------   ---------------------------------
                                    By:     Richard E. Anderson
                                    Title:  Vice President
<PAGE>

WITNESS:                            ACTIVE POWER, INC.

/s/                                 /s/ Joseph F. Pinkerton
---------------------------------   ---------------------------------
                                    By:     Joseph F. Pinkerton
                                    Title:  President

                                       2<PAGE>

                                                                   Exhibit 10.12

                  THIRD AMENDMENT TO LEASE AGREEMENT BETWEEN
                      BRAKER PHASE III, LTD. AS LANDLORD,
                       AND ACTIVE POWER INC., AS TENANT

          To be attached to and form a part of Lease made the 12th day
          of March, 1996 (which together with any amendments,
          modifications and extensions thereof, is hereinafter called
          the Lease), between Landlord and Tenant, covering a total of
          8,100 square feet and located at 11525 Stonehollow Drive,
          Suite 135, Austin, Texas, 78758 known as Braker Center III,
          Building 1.

     WITNESSETH that:

1.   Effective November 1, 1997 and expiring October 31, 1999, the demised
     premises shall contain, in addition to the approximately 8,100 square feet
     originally demised, an additional area, hereinafter called the "new space",
     containing approximately 15,080 square feet adjacent thereto (see Exhibit
     "A" attached hereto), thus making the aggregate area of the demised
     premises approximately 23,180 square feet.

2.   Effective November 1, 1997 the monthly base rental rate shall be structured
     as follows:

<TABLE>
<CAPTION>
     =======================================================================================================
              Lease Period              Existing Space        New Space      Base Total Rental Rate
                                             8,100             15,080              Per Month
     -------------------------------------------------------------------------------------------------------
             <S>                        <C>                  <C>            <C>
             11/1/97 - 5/31/98             $6,227.60           $9,048.00            $15,275.60
     -------------------------------------------------------------------------------------------------------
             6/1/98 - 10/31/98             $6,430.10           $9,048.00            $15,478.10
     -------------------------------------------------------------------------------------------------------
             11/1/98 - 5/31/99             $6,430.10           $9,500.40            $15,930.50
     -------------------------------------------------------------------------------------------------------
             6/1/99 - 10/31/99             $6,632.60           $9,500.40            $16,133.00
     -------------------------------------------------------------------------------------------------------
             11/1/99 - 5/31/00             $6,632.60              -0-               $ 6,632.60
     -------------------------------------------------------------------------------------------------------
              6/1/00 - 5/31/01             $6,835.10              -0-               $ 6,835.10
     =======================================================================================================
</TABLE>

3.   Landlord shall provide a maximum tenant finish allowance of Ten Thousand
     and No/00 Dollars ($10,000.00) to be applied toward interior improvements.
     Included in this Ten Thousand and No/00 Dollars ($10,000.00) are all costs
     associated with the interior construction of the premises including
     architectural and engineering fees and all other costs associated with the
     interior improvement construction.

4.   The Lease expressly refers to Landlord as Braker Phase III, Ltd. The
     Landlord's name has been changed to Metropolitan Life Insurance Company.
     The Lease and all related documents are hereby amended such that all
     referenced to "Landlord" or "Braker Phase III, Ltd." will translate to mean
     "Metropolitan Life Insurance Company".

5.   Except as herein and hereby modified and amended the Agreement of Lease
     shall remain in full force and effect and all the terms, provisions,
     covenants and conditions thereof are hereby ratified and confirmed.

          DATED AS OF THE 10th DAY OF October, 1997.
                          ----        -------    --
<PAGE>

WITNESS:                     METROPOLITAN LIFE INSURANCE COMPANY
                             a New York corporation, on behalf of a commingled
                             separate account
                             By:  SSR Realty Advisors, Inc., a Delaware
                             corporation, as Investment Advisor to Metropolitan
                             Life Insurance Company

                             /s/ Alan Bates
-----------------------------------------------------------------
                             By:  Alan Bates
                             Title:______________________________
WITNESS:                     ACTIVE POWER, INC.

                             /s/ Joseph F. Pinkerton
-----------------------------------------------------------------
                             By:  Joseph F. Pinkerton
                             Title:  President

                                       2

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