Document:

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY
STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE
OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION
OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM
REGISTRATION.

     

    WARRANT
TO PURCHASE STOCK

     

    
      
        	
                Company:

              	
                WAFERGEN
      BIO-SYSTEMS, INC., a Nevada corporation

              
	
                Number
      of Shares:

              	
                95,368

              
	
                Class
      of Stock:

              	
                Common

              
	
                Warrant
      Price:

              	
                $1.468

              
	
                Issue
      Date:

              	
                December
      7, 2010

              
	
                Expiration
      Date:

              	
                The
      5th anniversary after the Issue Date

              
	
                Credit
      Facility:

              	
                This
      Warrant is issued in connection with the Loan and
  Security

              
	 
      	
                Agreement
      between Company and Oxford Finance Corporation

              
	 
      	
                dated
      as of December 7, 2010, as amended from time to time

              
	 
      	
                (the
      “Loan Agreement”).

              

      

    

    

    THIS
WARRANT CERTIFIES THAT, for good and valuable consideration, including without
limitation the mutual promises contained in the Loan Agreement OXFORD FINANCE
CORPORATION (together with any successor or permitted assignee or transferee of
this Warrant, "Holder") is entitled to purchase the number of fully paid and
nonassessable shares of the common stock (the “Shares”) of the Company at the
Warrant Price, all as set forth above and as adjusted pursuant to Article 2
of this Warrant, subject to the provisions and upon the terms and conditions set
forth in this Warrant.

     

    ARTICLE
1.          EXERCISE.

     

    1.1           Method of
Exercise.  Holder may exercise this Warrant by delivering the
original of this Warrant together with a duly executed Notice of Exercise in
substantially the form attached as Appendix 1 to the principal office of the
Company.  Unless Holder is exercising the conversion right set forth
in Article 1.2, Holder shall also deliver to the Company a check, wire transfer
(to an account designated by the Company), or other form of payment acceptable
to the Company for the aggregate Warrant Price for the Shares being
purchased.

     

    1.2           Conversion
Right.  In lieu of exercising this Warrant as specified in
Article 1.1, Holder may from time to time convert this Warrant, in whole or in
part, into a number of Shares determined by dividing (a) the aggregate fair
market value of the Shares or other securities otherwise issuable upon exercise
of this Warrant minus the aggregate Warrant Price of such Shares by (b) the fair
market value of one Share.  The fair market value of the Shares shall
be determined pursuant to Article 1.3.

     

    1.3           Fair Market
Value.  The fair market value of each Share shall be the
closing price of a Share reported for the trading day immediately before Holder
delivers this Warrant together with its Notice of Exercise to the
Company.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.4           Delivery of Certificate and
New Warrant.  Promptly after Holder exercises or converts this
Warrant and, if applicable, the Company receives payment of the aggregate
Warrant Price, the Company shall deliver to Holder certificates for the Shares
acquired and, if this Warrant has not been fully exercised or converted and has
not expired, a new Warrant representing the Shares not so acquired.

     

    1.5           Replacement of
Warrants.  On receipt of evidence reasonably satisfactory to
the Company of the loss, theft, destruction or mutilation of this Warrant and,
in the case of loss, theft or destruction, on delivery of an indemnity agreement
reasonably satisfactory in form and amount to the Company or, in the case of
mutilation on surrender and cancellation of this Warrant, the Company shall
execute and deliver, in lieu of this Warrant, a new warrant of like
tenor.

     

    1.6           Treatment of Warrant Upon
Acquisition of Company.

     

    1.6.1          “Acquisition”.  For
the purpose of this Warrant, “Acquisition” means any sale, license, or other
disposition of all or substantially all of the assets of the Company, or any
reorganization, consolidation, or merger of the Company where the holders of the
Company’s securities before the transaction beneficially own less than 50% of
the outstanding voting securities of the surviving entity after the
transaction.

     

    1.6.2          Treatment of Warrant at
Acquisition.

     

    A)           Upon
the written request of the Company, Holder agrees that, in the event of an
Acquisition that is not an asset sale and in which the sole consideration is
cash, either (a) Holder shall exercise its conversion or purchase right under
this Warrant and such exercise will be deemed effective immediately prior to the
consummation of such Acquisition or (b) if Holder elects not to exercise the
Warrant, this Warrant will expire upon the consummation of such
Acquisition.  The Company shall provide the Holder with written notice
of its request relating to the foregoing (together with such reasonable
information as the Holder may request in connection with such contemplated
Acquisition giving rise to such notice), which is to be delivered to Holder not
less than ten (10) days prior to the closing of the proposed
Acquisition.

     

    B)           Upon
the written request of the Company, Holder agrees that, in the event of an
Acquisition that is an “arms length” sale of all or substantially all of the
Company’s assets (and only its assets) to a third party that is not an Affiliate
(as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall
exercise its conversion or purchase right under this Warrant and such exercise
will be deemed effective immediately prior to the consummation of such
Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant
will continue until the Expiration Date if the Company continues as a going
concern following the closing of any such True Asset Sale.  The
Company shall provide the Holder with written notice of its request relating to
the foregoing (together with such reasonable information as the Holder may
request in connection with such contemplated Acquisition giving rise to such
notice), which is to be delivered to Holder not less than ten (10) days prior to
the closing of the proposed Acquisition.

     

    C)           Upon
the closing of any Acquisition other than those particularly described in
subsections (A) and (B) above, the successor entity shall assume the obligations
of this Warrant, and this Warrant shall be exercisable for the same securities,
cash, and property as would be payable for the Shares issuable upon exercise of
the unexercised portion of this Warrant as if such Shares were outstanding on
the record date for the Acquisition and subsequent closing.  The
Warrant Price and/or number of Shares shall be adjusted
accordingly.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    As used
herein “Affiliate” shall mean
any person or entity that owns or controls directly or indirectly ten (10)
percent or more of the stock of Company, any person or entity that controls or
is controlled by or is under common control with such persons or entities, and
each of such person’s or entity’s officers, directors, joint venturers or
partners, as applicable.

     

    ARTICLE
2.          ADJUSTMENTS TO THE
SHARES.

     

    2.1           Stock Dividends, Splits,
Etc.  If the Company declares or pays a dividend on the shares
of its common stock payable in common stock, or other securities, then upon
exercise of this Warrant, for each Share acquired, Holder shall receive, without
cost to Holder, the total number and kind of securities to which Holder would
have been entitled had Holder owned the Shares of record as of the date the
dividend occurred.  If the Company subdivides the shares of its common
stock by reclassification or otherwise into a greater number of shares or takes
any other action that causes the outstanding shares of its common stock to
become converted into a greater number of shares of common stock, the number of
Shares shall be proportionately increased and the Warrant Price shall be
proportionately decreased.  If the outstanding shares of the Company’s
common stock are combined or consolidated, by reclassification or otherwise,
into a lesser number of shares, the Warrant Price shall be proportionately
increased and the number of Shares shall be proportionately
decreased.

     

    2.2           Reclassification, Exchange,
Combinations or Substitution. Upon any reclassification, exchange,
substitution, or other event that results in a change of the number and/or class
of the securities issuable upon exercise or conversion of this Warrant, Holder
shall be entitled to receive, upon exercise or conversion of this Warrant, the
number and kind of securities and property that Holder would have received for
the Shares if this Warrant had been exercised or converted immediately before
such reclassification, exchange, substitution, or other event.  The
Company or its successor shall promptly issue to Holder an amendment to this
Warrant setting forth the number and kind of such new securities or other
property issuable upon exercise or conversion of this Warrant as a result of
such reclassification, exchange, substitution or other event that results in a
change of the number and/or class of securities issuable upon exercise or
conversion of this Warrant and the amended Warrant Price.  The
amendment to this Warrant shall provide for adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Article
2 including, without limitation, adjustments to the Warrant Price and to the
number of securities or property issuable upon exercise of the new
Warrant.  The provisions of this Article 2.2 shall similarly apply to
successive reclassifications, exchanges, substitutions, or other
events.

     

    2.3           No
Impairment.  The Company shall not, by amendment of its
Certificate of Incorporation or through a reorganization, transfer of assets,
consolidation, merger, dissolution, issue, or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed under this Warrant by the Company, but
shall at all times in good faith assist in carrying out of all the provisions of
this Article 2 and in taking all such action as may be necessary or appropriate
to protect Holder’s rights under this Article against impairment.

     

    2.4           Fractional
Shares.  No fractional Shares shall be issuable upon exercise
or conversion of this Warrant and the number of Shares to be issued shall be
rounded down to the nearest whole Share.  If a fractional share
interest arises upon any exercise or conversion of the Warrant, the Company
shall eliminate such fractional share interest by paying Holder the amount
computed by multiplying the fractional interest by the fair market value of a
full Share computed as set forth in Article 1.3 above.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    2.5           Certificate as to
Adjustments.  Upon each adjustment of the Warrant Price, the
Company shall promptly notify Holder in writing, and, at the Company’s expense,
promptly compute such adjustment, and furnish Holder with a certificate of its
Chief Financial Officer setting forth such adjustment and the facts upon which
such adjustment is based.  The Company shall, upon written request,
furnish Holder a certificate setting forth the Warrant Price in effect upon the
date thereof and the series of adjustments leading to such Warrant
Price.

     

    ARTICLE
3.          REPRESENTATIONS AND
COVENANTS OF THE COMPANY.

     

    3.1           Representations and
Warranties.  The Company represents and warrants and covenants
to the Holder as follows:  all Shares which may be issued upon the
exercise of the purchase right represented by this Warrant shall, upon issuance,
be duly authorized, validly issued, fully paid and nonassessable, and free of
any liens and encumbrances except for restrictions on transfer provided for
herein or under applicable federal and state securities laws.

     

    3.2           Notice of Certain
Events. If the Company proposes at any time (a) to declare any dividend
or distribution upon any of its stock, whether in cash, property, stock, or
other securities and whether or not a regular cash dividend; (b) to offer for
sale any shares of the Company’s capital stock (or other securities convertible
into such capital stock), other than (i) pursuant to the Company’s stock option
or other compensatory plans, (ii) in connection with commercial credit
arrangements or equipment financings, or (iii) in connection with strategic
transactions for purposes other than capital raising; (c) to effect any
reclassification or recapitalization of any of its stock; (d) to merge or
consolidate with or into any other corporation, or sell, lease, license, or
convey all or substantially all of its assets, or to liquidate, dissolve or wind
up, then, in connection with each such event, the Company shall give Holder: (1)
at least 10 days prior written notice of the date on which a record will be
taken for such dividend, distribution, or subscription rights (and specifying
the date on which the holders of common stock will be entitled thereto) or for
determining rights to vote, if any, in respect of the matters referred to in (a)
and (b) above; and (2) in the case of the matters referred to in (c) and (d)
above at least 10 days prior written notice of the date when the same will take
place (and specifying the date on which the holders of common stock will be
entitled to exchange their common stock for securities or other property
deliverable upon the occurrence of such event).  Company will also
provide information requested by Holder reasonably necessary to enable the
Holder to comply with the Holder’s accounting or reporting
requirements.

     

    3.3           No Shareholder
Rights.  Except as provided in this Warrant, the Holder will
not have any rights as a shareholder of the Company until the exercise of this
Warrant.

     

    ARTICLE
4.          REPRESENTATIONS, WARRANTIES
OF THE HOLDER.  The Holder represents and warrants to the
Company as follows:

     

    4.1           Purchase for Own
Account.  This Warrant and the securities to be acquired upon
exercise of this Warrant by the Holder will be acquired for investment for the
Holder’s account, not as a nominee or agent, and not with a view to the public
resale or distribution within the meaning of the Act.  Holder also
represents that the Holder has not been formed for the specific purpose of
acquiring this Warrant or the Shares.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    4.2           Disclosure of
Information.  The Holder has received or has had full access to
all the information it considers necessary or appropriate to make an informed
investment decision with respect to the acquisition of this Warrant and its
underlying securities.  The Holder further has had an opportunity to
ask questions and receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying securities and to
obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense)
necessary to verify any information furnished to the Holder or to which the
Holder has access.

     

    4.3           Investment
Experience.  The Holder understands that the purchase of this
Warrant and its underlying securities involves substantial risk.  The
Holder has experience as an investor in securities of companies in the
development stage and acknowledges that the Holder can bear the economic risk of
such Holder’s investment in this Warrant and its underlying securities and has
such knowledge and experience in financial or business matters that the Holder
is capable of evaluating the merits and risks of its investment in this Warrant
and its underlying securities and/or has a preexisting personal or business
relationship with the Company and certain of its officers, directors or
controlling persons of a nature and duration that enables the Holder to be aware
of the character, business acumen and financial circumstances of such
persons.

     

    4.4           Accredited Investor
Status.  The Holder is an “accredited investor” within the
meaning of Regulation D promulgated under the Act.

     

    4.5           The
Act.  The Holder understands that this Warrant and the Shares
issuable upon exercise or conversion hereof have not been registered under the
Act in reliance upon a specific exemption therefrom, which exemption depends
upon, among other things, the bona fide nature of the Holder’s investment intent
as expressed herein.  The Holder understands that this Warrant and the
Shares issued upon any exercise or conversion hereof must be held indefinitely
unless subsequently registered under the Act and qualified under applicable
state securities laws, or unless exemption from such registration and
qualification are otherwise available.

     

    ARTICLE
5.          MISCELLANEOUS.

     

    5.1           Term.  This
Warrant is exercisable in whole or in part at any time and from time to time on
or before the Expiration Date.

     

    5.2           Legends.  This
Warrant and the Shares shall be imprinted with a legend in substantially the
following form:

     

    THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY
STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE
OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION
OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM
REGISTRATION.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    5.3           Compliance with Securities
Laws on Transfer.  This Warrant and the Shares issuable upon
exercise of this Warrant may not be transferred or assigned in whole or in part
without compliance with applicable federal and state securities laws by the
transferor and the transferee (including, without limitation, the delivery of
investment representation letters and legal opinions reasonably satisfactory to
the Company, as reasonably requested by the Company).  The Company
shall not require Holder to provide an opinion of counsel if the transfer is to
any affiliate of Holder.  Additionally, the Company shall also not
require an opinion of counsel if there is no material question as to the
availability of Rule 144, including, without limitation, current information as
referenced in Rule 144(c), Holder represents that it has complied with Rule
144(d) and (e) in reasonable detail, the selling broker represents that it has
complied with Rule 144(f), and the Company is provided with a copy of Holder’s
notice of proposed sale.

     

    5.4           Transfer
Procedure.  After receipt by Holder of the executed Warrant,
Holder may transfer this Warrant to any affiliate of Holder, by execution of an
Assignment substantially in the form of Appendix 2.  Subject to the
provisions of Article 5.3 and upon providing Company with written notice, any
subsequent Holder may transfer all or part of this Warrant or the Shares
issuable upon exercise of this Warrant (or the Shares issuable directly or
indirectly, upon conversion of the Shares, if any) to any transferee, provided,
however, in connection with any such transfer, any subsequent Holder will give
the Company notice of the portion of the Warrant being transferred with the
name, address and taxpayer identification number of the transferee and Holder
will surrender this Warrant to the Company for reissuance to the transferee(s)
(and Holder if applicable).

     

    5.5           Notices.  All
notices and other communications from the Company to the Holder, or vice versa,
shall be deemed delivered and effective when given personally or mailed by
first-class registered or certified mail, postage prepaid, at such address as
may have been furnished to the Company or the Holder, as the case may (or on the
first business day after transmission by facsimile) be, in writing by the
Company or such Holder from time to time.  Effective upon receipt of
the fully executed Warrant and the initial transfer described in Article 5.4
above, all notices to the Holder shall be addressed as follows until the Company
receives notice of a change of address in connection with a transfer or
otherwise:

     

    Oxford
Finance Corporation

    133 N.
Fairfax Street

    Alexandria,
VA 22314

    Attn: Tim
A. Lex, Chief Operating Officer

    Telephone:
(703) 519-4900

    Facsimile:
(703) 519-5225

     

    Notice to
the Company shall be addressed as follows until the Holder receives notice of a
change in address:

     

    WAFERGEN
BIO-SYSTEMS, INC.

    46531
Fremont Blvd.

    Fremont,
CA  94538

     

    Attn:  Chief
Financial Officer

    Tel.:                                           

    Fax:                                           

     

    5.6           Waiver.  This
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement
of such change, waiver, discharge or termination is sought.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    5.7           Attorneys’
Fees.  In the event of any dispute between the parties
concerning the terms and provisions of this Warrant, the party prevailing in
such dispute shall be entitled to collect from the other party all costs
incurred in such dispute, including reasonable attorneys’ fees.

     

    5.8           Automatic Conversion upon
Expiration.  In the event that, upon the Expiration Date, the
fair market value of one Share as determined in accordance with Article 1.3
above is greater than the Warrant Price in effect on such date, then this
Warrant shall automatically be deemed on and as of such date to be converted
pursuant to Article 1.2 above as to all Shares (or such other securities) for
which it shall not previously have been exercised or converted, and the Company
shall promptly deliver a certificate representing the Shares (or such other
securities) issued upon such conversion to the Holder.

     

    5.9           Counterparts.  This
Warrant may be executed in counterparts, all of which together shall constitute
one and the same agreement.

     

    5.10         Governing
Law.  This Warrant shall be governed by and construed in
accordance with the laws of the State of California, without giving effect to
its principles regarding conflicts of law.

     

    [Balance of Page
Intentionally Left Blank]

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      
        	
                “COMPANY”

              	 
      
	 
      	 
      
	
                WAFERGEN
      BIO-SYSTEMS, INC.

              	 
      
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	 
      	 
      
	
                Name:

              	
                  

              	 
      
	 
      	
                (Print)

              	 
      
	
                Title:

              	
                President
      and Chief Executive Officer

              	 
      
	 
      	 
      
	
                “HOLDER”

              	 
      
	 
      	 
      
	
                OXFORD
      FINANCE CORPORATION

              	 
      
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	 
      	 
      
	
                Name:

              	
                  

              	 
      
	 
      	
                (Print)

              	 
      
	 
      	 
      	 
      
	
                Title:

              	 
      	 
      

      

    

     

    [Signature Page to Warrant to
Purchase Common Stock]

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    APPENDIX
1

    NOTICE OF
EXERCISE

     

    1.           Holder
elects to purchase ___________ shares of the Common Stock of WAFERGEN
BIO-SYSTEMS, INC. pursuant to the terms of the attached Warrant, and tenders
payment of the purchase price of the shares in full.

     

    [or]

     

    1.           Holder
elects to convert the attached Warrant into Shares/cash [strike one] in the
manner specified in the Warrant.  This conversion is exercised for
_____________________ of the Shares covered by the Warrant.

     

    [Strike
paragraph that does not apply.]

     

    2.           Please
issue a certificate or certificates representing the shares in the name
specified below:

     

    
      	 
      	
                

            	 
      
	 
      	
              Holders
      Name

            	 
      
	 
      	
                

            	 
      
	 
      	
                

            	 
      
	 
      	
              (Address)

            	 
      

    

     

    3.           By
its execution below and for the benefit of the Company, Holder hereby restates
each of the representations and warranties in Article 4 of the Warrant as the
date hereof.

     

    
      
        	 
      	
                HOLDER:

              
	 
      	
                  

              
	 
      	 
      
	 
      	
                By:

              	
                  

              
	 
      	 
      	 
      
	 
      	
                Name: 

              	
                  

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                  

              
	 
      	 
      	 
      
	 
      	
                (Date):

              	
                  

              

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    APPENDIX
2

     

    ASSIGNMENT

     

    For value
received, Oxford Finance Corporation hereby sells, assigns and transfers
unto

     

    Name:

    Address:

     

    Tax
ID:

     

    that
certain Warrant to Purchase Stock issued by WAFERGEN BIO-SYSTEMS, INC. (the
“Company”), on December 7, 2010 (the “Warrant”) together with all rights, title
and interest therein.

     

    
      	 
      	
              OXFORD
      FINANCE CORPORATION

            
	 
      	 
      
	 
      	
              By:

            	
                

            
	 
      	 
      	 
      
	 
      	
              Name: 

            	
                

            
	 
      	 
      	 
      
	 
      	
              Title:

            	
                

            
	 
      	 
      
	
              Date:

            	
                

            	 
      

    

     

    By its
execution below, and for the benefit of the Company,                          
makes each of the representations and warranties set forth in Article 4 of the
Warrant and agrees to all other provisions of the Warrant as of the date
hereof.

     

    
      
        
          
            
              
                
                  
                    	 	 	 	 
	 	 	 	 
	 
      	 
      	 
      	 
      
	 
      	
                            By:

                          	
                              

                          	 
      
	 
      	 
      	 
      	 
      
	 
      	
                            Name:

                          	
                              

                          	 
      
	 
      	 
      	 
      	 
      
	 
      	
                            Title:EXHIBIT
10.1

     

    INDEMNIFICATION
AGREEMENT

     

    This
Indemnification Agreement (this "Agreement")
is made effective as of December 13, 2010, by and between Aerosonic Corporation,
a Delaware corporation (the "Corporation") and ______________
("Indemnitee").

     

    WHEREAS,
increased corporate litigation has subjected officers and directors to
litigation risks and expenses, and the limitations on the availability of
director and officer liability insurance may make it increasingly difficult for
the Corporation to attract and retain the most capable persons reasonably
available to serve as officers and/or directors of the Corporation;
and

     

    WHEREAS,
the Corporation desires to provide Indemnitee with specific contractual
assurance of Indemnitee's rights to full indemnification against litigation
risks and expenses (regardless, among other things, of any amendment to or
revocation of the Corporation's Certificate of Incorporation (the "Certificate
of Incorporation") or the Corporation's Bylaws (the "Bylaws") or any change in
the ownership of the Corporation or the composition of its Board of Directors);
and

     

    WHEREAS,
the Corporation intends that this Agreement provide Indemnitee with greater
protection than that which is provided by the Certificate of Incorporation and
Bylaws; and

     

    WHEREAS,
Indemnitee’s willingness to serve as an officer and/or director, as the case may
be, of the Corporation is predicated, in substantial part, upon the
Corporation’s willingness to indemnify him or her in accordance with the
principles reflected above, to the fullest extent permitted by the laws of the
State of Delaware, and upon the other undertakings set forth in this Agreement;
and

     

    WHEREAS,
in order to induce Indemnitee to serve as an officer and/or director, as the
case may be, of the Corporation, the Corporation has determined and agreed to
enter into this Agreement with Indemnitee.

     

    NOW,
THEREFORE, in consideration of the mutual promises made in this Agreement, and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Corporation and Indemnitee hereby agree as
follows:

     

    1.            Indemnification.

     

    (a)           Third Party
Proceedings.  The Corporation shall indemnify Indemnitee if
Indemnitee is or was a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the
right of the Corporation) by reason of the fact that Indemnitee is or was, or
has agreed to become, an officer and/or director, as the case may be, of the
Corporation, or any subsidiary of the Corporation, by reason of any actual or
alleged error or misstatement or misleading statement made or suffered by
Indemnitee, by reason of any action or inaction on the part of Indemnitee while
an officer and/or director, as the case may be, of the Corporation, or by reason
of the fact that Indemnitee is or was serving at the request of the Corporation
as an officer and/or director, as the case may be, of another corporation,
partnership, joint venture, trust or other enterprise (including without
limitation employee benefit plans and administrative committees thereof),
against expenses (including reasonable attorneys' fees and disbursements),
damages (compensatory, exemplary, punitive or otherwise), costs of attachment or
similar bonds, judgments, fines and amounts paid in settlement (if such
settlement is approved in advance by the Corporation, such approval not to be
unreasonably withheld), in each case actually and reasonably incurred by
Indemnitee in connection with such action, suit or proceeding if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in or
not opposed to the best interests of the Corporation, and, with respect to any
criminal action or proceeding, had no reasonable cause to believe Indemnitee's
conduct was unlawful.  The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of nolo
contendere or its equivalent, shall not, of itself, create a presumption that
Indemnitee did not act in good faith and in a manner which Indemnitee reasonably
believed to be in or not opposed to the best interests of the Corporation, or,
with respect to any criminal action or proceeding, that Indemnitee had
reasonable cause to believe that Indemnitee's conduct was
unlawful.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (b)           Proceedings by or in the
Right of the Corporation.  The Corporation shall indemnify
Indemnitee if Indemnitee was or is a party or is threatened to be made a party
to any threatened, pending or completed action or proceeding by or in the right
of the Corporation or any subsidiary of the Corporation to procure a judgment in
its favor by reason of the fact that Indemnitee is or was, or has agreed to
become, an officer and/or director, as the case may be, of the Corporation, or
any subsidiary of the Corporation, by reason of any actual or alleged error or
misstatement or misleading statement made or suffered by Indemnitee, by reason
of any action or inaction on the part of Indemnitee while an officer and/or
director, as the case may be, or by reason of the fact that Indemnitee is or was
serving at the request of the Corporation as an officer and/or director, as the
case may be, of another corporation, partnership, joint venture, trust or other
enterprise (including without limitation employee benefit plans and
administrative committees thereof), against expenses (including reasonable
attorneys' fees and disbursements), damages (compensatory, exemplary, punitive
or otherwise), costs of attachment or similar bonds, judgments, fines and, to
the fullest extent permitted by law, amounts paid in settlement (if such
settlement is approved in advance by the Corporation, such approval not to be
unreasonably withheld), in each case to the extent actually and reasonably
incurred by Indemnitee in connection with the defense or settlement of such
action or suit if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Corporation and its stockholders, except that no indemnification shall be made
in respect of any claim, issue or matter as to which Indemnitee shall have been
finally adjudicated by a final, unappealable order or judgment by a court having
jurisdiction over the parties and the subject matter of the dispute from which
no further right of appeal exists to be liable to the Corporation in the
performance of Indemnitee's duty to the Corporation and its stockholders unless
and only to the extent that the court in which such action or proceeding is or
was pending shall determine upon application that, in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnity for such expenses which such court shall deem proper.

     

    (c)           Mandatory Payment of
Expenses.  To the extent that Indemnitee has been successful on
the merits or otherwise in defense of any action, suit or proceeding referred to
in Section 1(a) or
Section 1(b) or the defense of any claim, issue or matter therein,
Indemnitee shall be indemnified against expenses (including reasonable
attorneys' fees and disbursements) actually and reasonably incurred by
Indemnitee in connection therewith.

     

    (d)           Witness.  Notwithstanding
any other provision of this Agreement, to the extent that Indemnitee is, by
reason of the fact that Indemnitee is or was an officer and/or director, as the
case may be, of the Corporation or was serving at the request of the Corporation
as an officer and/or director, as the case may be, of another corporation,
partnership, joint venture, trust or other enterprise (including without
limitation employee benefit plans and administrative committees thereof), a
witness in any action, suit or proceeding to which Indemnitee is not a party,
Indemnitee shall be indemnified against all expenses (including reasonable
attorneys' fees and disbursements) actually and reasonably incurred by
Indemnitee in connection therewith.

     

    (e)           Serving at the Request of
the Corporation.  For purposes of this Agreement, if Indemnitee
should serve as an officer and/or director, as the case may be, of another
corporation, partnership, joint venture, trust or other enterprise (including
without limitation employee benefit plans and administrative committees thereof)
it will be conclusively presumed in the case of any of the foregoing that are
"affiliates" of the Corporation as defined in Rule 12b-2 under the Securities
Exchange Act of 1934, as amended) that Indemnitee was serving at the request of
the Corporation.

     

    2.            Expenses, Indemnification
Procedure.

     

    (a)           Advancement of
Expenses.  The Corporation shall pay all expenses incurred by
Indemnitee in connection with the investigation, defense, settlement or appeal
of any civil or criminal action, suit or proceeding referred to in Section l hereof
(including amounts actually paid in settlement of any such action, suit or
proceeding), as such expenses are incurred and in advance of the final
disposition of such action, suit or proceeding. Indemnitee hereby undertakes to
repay such amounts advanced only if, and to the extent that, it shall ultimately
be determined that Indemnitee is not entitled to be indemnified by the
Corporation as authorized hereby by a final, unappealable order or judgment by a
court having jurisdiction over the parties and the subject matter of the dispute
from which no further right of appeal exists.  Indemnitee’s
undertaking hereunder need not be secured and shall be accepted without
reference to Indemnitee's financial ability to make repayment if and to the
extent that it shall ultimately be determined as provided in this Agreement that
Indemnitee is not entitled to be indemnified under this Agreement or
otherwise.

     

     (b)           Notice/Cooperation by
Indemnitee.  Indemnitee shall give the Corporation notice in
writing as soon as practicable of any claim made against Indemnitee for which
indemnification will or could be sought under this Agreement; provided, however,
that the omission so to notify an officer of the Corporation will not relieve
the Corporation from any obligation which it may have to Indemnitee under this
Agreement or otherwise unless and only to the extent that such omission can be
shown to have prejudiced the Corporation.  Notice to the Corporation
shall be directed to the Chief Executive Officer of the Corporation and shall be
given in accordance with the provisions of Section 9(d) below.  In
addition, Indemnitee shall give the Corporation such information and cooperation
as it may reasonably require and as shall be within Indemnitee's
power.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (c)           Procedure.  Any
indemnification and advances provided for in Section 1 and this
Section 2 shall
be made no later than thirty (30) days after receipt of the written request of
Indemnitee.  If a claim under this Agreement, under any statute, or
under any provision of the Certificate of Incorporation or Bylaws providing for
indemnification, is not paid in full by the Corporation within thirty (30) days
after a written request for payment thereof has first been received by the
Corporation, Indemnitee may, but need not, at any time thereafter bring an
action against the Corporation to recover the unpaid amount of the claim and,
subject to Section
8 of this Agreement, Indemnitee shall also be entitled to be paid for the
expenses (including reasonable attorneys' fees and disbursements) of bringing
such action.  It shall be a defense to any such action (other than an
action brought to enforce a claim for expenses incurred in connection with any
action, suit or proceeding in advance of its final disposition) that Indemnitee
has not met the standards of conduct which make it permissible under applicable
law for the Corporation to indemnify Indemnitee for the amount claimed, but in
such case, it shall be presumed that Indemnitee has at all times acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to
the best interests of the Corporation and the burden of proving such defense
shall be on the Corporation.  Indemnitee shall be entitled to receive
interim payments of expenses pursuant to Section 2(a) unless
and until such defense may be finally adjudicated by a final, unappealable order
or judgment by a court having jurisdiction over the parties and the subject
matter of the dispute from which no further right of appeal
exists.  Indemnitee shall be presumed to have acted in good faith if
Indemnitee’s action is based on the records or books of account of the
Corporation, including financial statements, or on information supplied to an
Indemnitee by the officers of the Corporation in the course of their duties, or
on the advice of legal counsel for the Corporation or on information or records
given or reports made to the Corporation by an independent certified public
accountant or by an appraiser or other expert selected with reasonable care by
the Corporation.  In addition, the knowledge and/or actions, or
failure to act, of any director, officer, agent or employee of the Corporation,
unless affiliated with Indemnitee, shall not be imputed to Indemnitee for
purposes of determining the right to indemnification under this
Agreement.  Furthermore, the Corporation shall conclusively be
presumed to have entered into this Agreement and assumed the obligations imposed
on it to induce Indemnitee to accept the position of, or to continue as an
officer and/or director, as the case may be, of the Corporation.  It
is the parties' intention that if the Corporation contests Indemnitee's right to
indemnification, the question of Indemnitee's right to indemnification shall be
for the court to decide, and neither the failure of the Corporation (including
its Board of Directors, any committee or subgroup of the Board of Directors,
independent legal counsel, or its stockholders) to have made a determination
that indemnification of Indemnitee is proper in the circumstances because
Indemnitee has met the applicable standard of conduct required by applicable
law, nor an actual determination by the Corporation (including its Board of
Directors, any committee or subgroup of the Board of Directors, independent
legal counsel, or its stockholders) that Indemnitee has not met such applicable
standard of conduct, shall create a presumption that Indemnitee has or has not
met the applicable standard of conduct.

     

    (d)           Notice to
Insurers.  If, at the time of the receipt of a notice of a
claim pursuant to Section 2(b) hereof,
the Corporation has director and officer liability insurance in effect, the
Corporation shall give prompt notice of the commencement of such proceeding to
the insurers in accordance with the procedures set forth in the respective
policies (unless Indemnitee's involvement in such proceeding is solely as a
witness or there is otherwise no basis for asserting coverage).  The
Corporation shall thereafter take all necessary or desirable action to cause
such insurers to pay, on behalf of the Indemnitee, all amounts payable as a
result of such proceeding in accordance with the terms of such
policies.

     

    (e)           Selection of
Counsel.  In the event the Corporation shall be obligated under
Section 2(a)
hereof to pay the expenses of any proceeding against Indemnitee, the
Corporation, if appropriate, shall be entitled to assume the defense of such
proceeding with counsel reasonably satisfactory to Indemnitee, upon the delivery
to Indemnitee of written notice of its election so to do.  After
delivery of such notice and the retention of such counsel by the Corporation,
the Corporation will not be liable to Indemnitee under this Agreement for any
fees of counsel subsequently incurred by Indemnitee with respect to the same
proceeding, provided that (i) Indemnitee shall have the right to employ counsel
in any such proceeding at Indemnitee's expense; and (ii) if (A) the employment
of counsel by Indemnitee has been previously authorized by the Corporation, (B)
Indemnitee shall have reasonably concluded that there may be a conflict of
interest between the Corporation and Indemnitee in the conduct of any such
defense, (C) the Corporation shall not, in fact, have employed counsel to assume
the defense of such proceeding or (D) the Corporation is not financially or
legally able to perform its indemnification obligations, then the fees and
expenses of Indemnitee's counsel shall be at the expense of the
Corporation.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (f)           Settlement.  The
Corporation shall not settle any action or claim in any manner which would
impose any penalty or limitation on Indemnitee that would not be indemnifiable
hereunder or for which indemnification would not be provided by the Corporation
without Indemnitee's written consent.

     

    3.  
          Additional Indemnification
Rights, Nonexclusivity, Contribution.

     

    (a)           Scope.  Notwithstanding
any other provision of this Agreement, the Corporation hereby agrees to
indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding
that such indemnification is not specifically authorized by the other provisions
of this Agreement, the Certificate of Incorporation, the Bylaws or by
statute.  In the event of any change, after the date of this
Agreement, in any applicable law, statute, or rule which expands the right of a
Delaware corporation to indemnify an officer or member of its board of
directors, such changes shall be deemed to be within the purview of Indemnitee's
rights and the Corporation's obligations under this Agreement.  In the
event of any change in any applicable law, statute or rule which narrows the
right of a Delaware corporation to indemnify an officer or member of its board
of directors, such changes, to the extent not otherwise required by such law,
statute or rule to be applied to this Agreement shall have no effect on this
Agreement or the parties' rights and obligations hereunder.

     

    (b)           Nonexclusively.  The
indemnification provided by this Agreement shall not be deemed exclusive of any
rights to which Indemnitee may be entitled under the Certificate of
Incorporation, the Bylaws, any agreement, any vote of stockholders or
disinterested members of the Corporation's Board of Directors, the General
Corporation Law of the State of Delaware, or otherwise, both as to action in
Indemnitee's official capacity and as to action in another capacity while
holding such office.  The indemnification provided under this
Agreement shall continue as to Indemnitee for any action taken or not taken
while serving in an indemnified capacity even though he or she may have ceased
to serve in any such capacity at the time of any action, suit or other covered
proceeding.

     

    (c)           Contribution in Event of
Joint Liaiblity.

     

    (i)           Subject
to Section 1
hereof, in respect of any action, suit or proceeding in which the Corporation is
jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Corporation shall pay, in the first instance, the entire amount
of any judgment or settlement of such action, suit or proceeding without
requiring Indemnitee to contribute to such payment and the Corporation hereby
waives and relinquishes any right of contribution it may have against
Indemnitee.  The Corporation shall not enter into any settlement of
any action, suit or proceeding in which the Corporation is jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding) unless
such settlement provides for a full and final release of all claims asserted
against Indemnitee.

     

    (ii)           If,
for any reason, Indemnitee shall elect or be required to pay all or any portion
of any judgment or settlement in any action, suit or proceeding in which the
Corporation is jointly liable with Indemnitee and for which the Corporation
would otherwise be obligated to indemnify Indemnitee under this Agreement, the
Corporation shall, to the extent permitted by applicable law, contribute to the
amount of such indemnifiable losses, judgments, fines and amounts paid in
settlement (if such settlement is approved in advance in writing by the
Corporation, which approval shall not be unreasonably withheld) actually and
reasonably incurred and paid or payable by Indemnitee in proportion to the
relative benefits received by the Corporation and all officers, directors or
employees of the Corporation other than Indemnitee, on the one hand, and
Indemnitee, on the other hand, from the transaction from which such action, suit
or proceeding arose; provided, however, that the proportion determined on the
basis of relative benefit may, to the extent necessary to conform to law, be
further adjusted by reference to the relative fault of the Corporation and all
officers, directors or employees of the Corporation other than other indemnitees
who are jointly liable with Indemnitee, on the one hand, and all indemnitees,
including Indemnitee, on the other hand, in connection with the events that
resulted in such indemnifiable losses, judgments, fines or settlement amounts,
as well as any other equitable considerations which the law may require to be
considered.  The relative fault of the Corporation and all officers,
directors or employees of the Corporation, other than Indemnitee, on the one
hand, and Indemnitee, on the other hand, shall be determined by reference to,
among other things, the degree to which their actions were motivated by intent
to gain personal profit or advantage, the degree to which their liability is
primary or secondary and the degree to which their conduct is active or
passive.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (iii)           The
Corporation hereby agrees to fully indemnify and hold Indemnitee harmless from
any claims of contribution which may be brought by officers, directors or
employees of the Corporation who may be jointly liable with
Indemnitee.

     

    4.           Partial
Indemnification.  If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Corporation for some or a portion of
the expenses, judgments, fines or penalties actually or reasonably incurred in
the investigation, defense, appeal or settlement of any civil or criminal
action, suit or proceeding, but not, however, for the total amount thereof, the
Corporation shall nevertheless indemnify Indemnitee for the portion of such
expenses, judgments, fines or penalties to which Indemnitee is
entitled.  If Indemnitee is not wholly successful in an action, suit
or proceeding but is successful, on the merits or otherwise, as to one or more
but less than all claims, issues or matters in such action, suit or proceeding,
the Company shall indemnify Indemnitee for all indemnifiable losses actually and
reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with
each successfully resolved claim, issue or matter.  For purposes of
this Section 4
and without limitation, the termination of any claim, issue or matter in such an
action, suit or proceeding by dismissal, with or without prejudice, shall be
deemed to be a successful result as to such claim, issue or matter.

     

    5.           Mutual
Acknowledgment.  Both the Corporation and the Indemnitee
acknowledge that in certain instances, Federal law or applicable public policy
may prohibit the Corporation from indemnifying its officers and directors under
this Agreement or otherwise.  Indemnitee understands and acknowledges
that the Corporation may be required in the future to undertake to the
Securities and Exchange Commission to submit the question of indemnification to
a court in certain circumstances for a determination of the Corporation’s right
under public policy to indemnify Indemnitee and, in that event, the Indemnitee’s
rights and the Corporation’s obligations hereunder shall be subject to that
determination.

     

    6.           Director and Officer
Liability Insurance.  The Corporation shall, from time to time,
make the good faith determination whether or not it is practicable for the
Corporation to obtain and maintain a policy or policies of insurance with a
reputable insurance corporation providing the Indemnitee with coverage for
losses from wrongful acts, and to ensure the Corporation's performance of its
indemnification obligations under this Agreement.  In all policies of
director and officer liability insurance, Indemnitee shall be named as an
insured in such a manner as to provide Indemnitee the same rights and benefits
as are accorded to the most favorably insured of the Corporation's officers and
directors.  Notwithstanding the foregoing, the Corporation shall have
no obligation to obtain or maintain such insurance if the Corporation determines
in good faith that such insurance is not reasonably available, if the premium
costs for such insurance are disproportionate to the amount of coverage
provided, if the coverage provided by such insurance is limited by exclusions so
as to provide an insufficient benefit, or if Indemnitee is covered by similar
insurance maintained by a parent or subsidiary of the
Corporation.  The Corporation shall not be liable under this Agreement
to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any
insurance policy, contract, agreement or otherwise.

     

    7.           Severability.  Nothing
in this Agreement is intended to require or shall be construed as requiring the
Corporation to do or fail to do any act in violation of applicable
law.  The Corporation's inability, pursuant to court order, to perform
its obligations under this Agreement shall not constitute a breach of this
Agreement.  The provisions of this Agreement shall be severable as
provided in this Section
7.  If this Agreement or any portion hereof shall be
invalidated on any ground by any court of competent jurisdiction, then the
Corporation shall nevertheless indemnify Indemnitee to the full extent permitted
by any applicable portion of this Agreement that shall not have been
invalidated, and the balance of this Agreement not so invalidated shall be
enforceable in accordance with its terms.

     

    8.           Exceptions.  Any
other provision herein to the contrary notwithstanding, the Corporation shall
not be obligated pursuant to the terms of this Agreement:

     

    (a)           Claims Initiated by
Indemnitee.  To indemnify or advance expenses to Indemnitee
with respect to proceedings or claims initiated or brought voluntarily by
Indemnitee and not by way of defense, except with respect to proceedings brought
to establish or enforce a right to indemnification under this Agreement or any
other statute or law or otherwise as required under Section 145 of the Delaware
General Corporation Law, but such indemnification or advancement of expenses may
be provided by the Corporation in specific cases if the Board of Directors finds
it to be appropriate;

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (b)           Lack of Good
Faith.  To indemnify Indemnitee for any expenses incurred by
Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or
interpret this Agreement, if a court having jurisdiction over the parties and
the subject matter of the dispute determines by a final, unappealable order or
judgment from which no further right of appeal exists, that each of the material
assertions made by Indemnitee in such proceeding was not made in good faith or
was frivolous; or

     

    (c)           Claims Under Section
16(b).  To indemnify Indemnitee for expenses or the payment of
profits on account of any suit in which a final, unappealable decision is
rendered by a court having jurisdiction over the parties and the subject matter
of the dispute for an accounting of profits made from the purchase and sale by
Indemnitee of securities of the Corporation in violation of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or any similar successor
statute.

     

    9.           Miscellaneous.

     

    (a)           Governing
Law.  This Agreement shall be construed under and enforced in
accordance with the internal substantive laws of the State of
Delaware.  Any litigation arising out of or incidental to this
Agreement shall be initiated only in a court of competent jurisdiction located
within the State of Delaware.  Each party hereby consents to the
personal jurisdiction of the State of Delaware, acknowledges that venue is
proper in any state or Federal court in the State of Delaware, agrees that any
action related to this Agreement must be brought in a state or Federal court in
the State of Delaware and waives any objection that may exist, now or in the
future, with respect to any of the foregoing.

     

    (b)           Entire Agreement;
Enforcement of Rights.  This Agreement sets forth the entire
agreement and understanding of the parties relating to the subject matter herein
and merges all prior discussions between them.  No modification of or
amendment to this Agreement, nor any waiver of any rights under this Agreement,
shall be effective unless in writing signed by the parties to this
Agreement.  The failure by either party to enforce any rights under
this Agreement shall not be construed as a waiver of any rights of such
party.

     

    (c)           Construction.  This
Agreement is the result of negotiations between and has been reviewed by each of
the parties hereto and their respective counsel, if any; accordingly, this
Agreement shall be deemed to be the product of all of the parties hereto, and no
ambiguity shall be construed in favor of or against any one of the parties
hereto.

     

    (d)           Notices.  All
notices, requests, demands and other communications hereunder shall be in
writing and shall be deemed to have been duly given on the date of personal
delivery; or on the date of electronic confirmation of receipt, if sent by
telecopier; or three (3) days after deposit in the United States mail, if mailed
by certified or registered mail, return receipt requested (postage prepaid); or
one (1) day after delivery by a reputable overnight courier (delivery charges
prepaid), as follows:

     

    (i)            If
to Indemnitee, to the address set forth below Indemnitee's signature
hereto.

    

    (ii)           If to the Corporation,
to:

    

    Aerosonic
Corporation

    1212
North Hercules Avenue

    Clearwater,
Florida 33765

    Attention:
Douglas J. Hillman,

    President
and Chief Executive Officer

    Telephone:
727-471-3000

    Facsimile:
727-447-5926

    

    with a
copy sent at the same time and by the same means to:

    

    Hill
Ward Henderson

    3700 Bank
of America Plaza

    101 East
Kennedy Boulevard

    Tampa,
FL  33602

    Attention:  David
S. Felman

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    Telephone:
813-221-3900

    Fax:
813-221-2900

     

    or to
such other address as may have been furnished to Indemnitee by the Corporation
or to the Corporation by Indemnitee, as the case may be. 

     

    (e)           Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together shall constitute one
instrument.

     

    (f)           Successors
and Assigns.  This Agreement shall be
binding upon the Corporation and its successors and assigns, and inure to the
benefit of Indemnitee and Indemnitee's heirs, legal representatives and
assigns.

     

    (g)           Modification and
Waiver.  No supplement, modification, termination or amendment
of this Agreement shall be binding unless executed in writing by both of the
parties hereto.  No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provisions hereof
(whether or not similar) nor shall such waiver constitute a continuing
waiver.

     

    (h)           Subrogation.  In
the event of payment under this Agreement, the Corporation shall be subrogated
to the extent of such payment to all of the rights of recovery of Indemnitee,
who shall execute all documents required and shall do all acts that may be
necessary to secure such rights and to enable the Corporation to effectively
bring suit to enforce such rights.

     

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
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    IN WITNESS WHEREOF, the
parties hereto have executed this Indemnification Agreement as an instrument
under seal as of the day and year set forth on the first page of this
Agreement.

    

    
      
        
          
            	
                    AEROSONIC
      CORPORATION

                  
	 
      
	 
      
	
                    Name:

                  
	
                    Title:

                  
	 
      
	
                    INDEMNITEE:

                  
	 
      
	 
      
	
                    Name:

                  
	 
      
	
                    Address:

                  

          

        

      

    

    
      
         

      

      
        8

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