Item 1.01. Entry into a Material Definitive Agreement.

On January 21, 2013, Aerosonic Corporation ("Aerosonic") entered into a Development Collaboration and Intellectual Property Agreement (the "Collaboration Agreement") with LG CNS Co., Ltd. ("LG"). The Collaboration Agreement provides that it is effective as of December 12, 2012.

Among other things, the Collaboration Agreement provides for the sale of certain intellectual property of Aerosonic (the "Purchased IP") to LG. The aggregate purchase price for the Purchased IP is $2,300,000, $1,553,000 of which was already paid to Aerosonic. The remainder of the purchase price is payable by LG to Aerosonic in two lump sum payments in January 2016 and January 2017.