Board of Directors

DAVID R. LAVANCE

Chairman, President and Chief Executive Officer of IET

Mr. LaVance has served as IET’s Chairman, President and Chief Executive Officer since June 16, 2011 and has served as a director of IET since March 3, 2011. From May 22, 2011 to June 16, 2011, Mr. LaVance served as Executive Chairman of IET. Until June 2015, he was chairman of the board of directors of Hologic, Inc. (NASDAQ: HOLX), a publicly traded medical device company specializing in women’s healthcare products. Hologic is the worldwide leader in digital mammography, molecular diagnostics for women’s health, pap testing and gynecological surgical products. Mr. LaVance had been a director of Hologic since December 2002. From June 2008 through July 2011, Mr. LaVance served as the lead independent director of Hologic and was named chairman of the board of directors in August 2011. Since March 2003, Mr. LaVance has served as the President and Chief Executive Officer and the chairman of board of directors of Scivanta Medical Corporation (OTC Bulletin Board: SCVM), a publicly traded medical device company that has a license to a cardiac monitoring technology. Since August 1997, Mr. LaVance has served as the President and co-founder of Century Capital Associates LLC, a consulting firm providing business and transaction advisory services. Mr. LaVance was formerly a Managing Director of KPMG Health Ventures, an advisory group providing investment banking services to healthcare companies. Mr. LaVance received a B.A. degree from Furman University and a J.D. degree from Washington College of Law of the American University. As our President and Chief Executive Officer, Mr. LaVance has direct responsibility for IET’s strategy and operations. This position, together with his many years of experience in corporate management, makes him an invaluable contributor to the board.

PAUL S. CLAYSON

Chairman and Chief Executive Officer of Valuation Impact

Mr. Clayson has served as a director of IET since December 15, 2014. He has over 30 years of experience as a business owner, strategic planning expert, financial and investment strategist and a senior political advisor. He has served as Chairman and Chief Executive Officer of Valuation Impact, a global executive mentoring and consulting company focused on helping start-up and growth-stage companies, since January 2014. He also has served as Chief Executive Officer of CONVERT2, a start-up energy company focused on conversion of fleet vehicles from fossil fuels to natural gas and other alternative fuels, since July 2004. Mr. Clayson currently serves on the board of directors of Solan, Inc, a graphene materials company; RDSolutions, Inc., a biotechnology company and SimplEExchange, Inc., a healthcare exchange tools company. He also currently serves on the boards of advisors of eSurface, Inc., a printed circuit board and semiconductor manufacturing company and Peace Field, Ltd., an investment and merchant banking firm. He has previously served as Executive Chairman, President and Chief Executive Officer of HzO, Inc., an advanced nano-materials technology company that makes electronic devices water resistant, from August 2011 to July 2014; and as Chairman and Chief Executive Officer of nCoat, Inc., a nanotechnology materials development and manufacturing company, from March 2004 to April 2011. Mr. Clayson attended the University of Utah for three years where he studied political science and business management and has completed two M.B.A. Executive Boot Camps at University of Michigan in Corporate Strategic Planning and Strategic Market Planning. Mr. Clayson’s mix of leadership, management, strategic and finance skills and experience, enable him to provide important experience and insights to the board.

MICHAEL D. DONNELL

Consultant

Mr. Donnell has served as a director of IET since December 15, 2014. Mr. Donnell has over 25 years of experience in leading publicly-traded and private technology-based companies ranging in size from start-ups to organizations with over 1,500 employees. He previously served as the President and Chief Executive Officer of onePhone, Inc., a mobile phone software company, from June 2012 to December 2013. Prior thereto, he served as on executive officer of several technology and communications based companies. Mr. Donnell has also served on the boards of directors of eSoft, Inc. from October 2010 to January 2013 and Nexaira, Inc. from May 2010 to October 2011. Mr. Donnell received a B.A. degree in finance from Central Oklahoma University. Mr. Donnell’s mix of leadership, management, strategic and finance skills and experience, enable him to provide important experience and insights to the board.

ANTHONY GIORDANO, III

President and Chief Executive Officer of Colonial American Bank

Mr. Giordano has served as a director of IET since December 15, 2014. He is currently the President and Chief Executive Officer and a director of Colonial American Bank, which is currently headquartered in Middletown, New Jersey. From January 1, 2005 through November 30, 2010, Mr. Giordano served as the Senior Executive Vice President, Chief Financial Officer, Treasurer and Assistant Secretary of Central Jersey Bancorp, a publicly traded bank holding company (NASDAQ: CJBK), from January 2005 through the date of the consummation of the merger of Central Jersey Bancorp and Kearny Financial Corp. in November 2010. Prior thereto, he served in various executive and senior account positions with various financial institutions. Mr. Giordano received an M.B.A. degree from Monmouth University and a B.S. degree in finance from Kean University. Mr. Giordano’s mix of leadership, management, strategic and finance skills and experience enable him to provide important accounting and finance experience and management insights to the board.

DAVID N. HARRY

Senior Fellow-Technology – Rockwater Energy Solutions, Inc.

Mr. Harry has served as a director of IET since June 21, 2007. Mr. Harry is a Senior Technology Fellow with Rockwater Energy Solutions, Inc. and is the former Executive Vice President and Chief Technical Officer of Benchmark Performance Group, Inc. In 2011, Benchmark was rolled-up as one of the founding companies of Rockwater. Rockwater is a leading provider of services and products related to the management and treatment of water, and the development of chemicals for use in the oil and gas industry. Mr. Harry joined Benchmark in 1984 to assist it with its growing dry and liquid chemical blending business. Mr. Harry was Benchmark’s Chief Technical Officer from 1990 through 2011, directing all of Benchmark’s quality control, technical support and product development activities. Mr. Harry began his career as an analytical chemist in 1977. Mr. Harry is a member of the Society of Petroleum Engineers and the American Chemical Society. He received his B.S. degree and M.S. degree from Stephen F. Austin State University and conducted post-graduate work in limnology and hydrology at Texas A&M University. Mr. Harry’s scientific background and understanding of our technology and its applications, particularly in the area of oil and gas, enable him to provide important insights to the board.