May 22, 2008 Joseph A. Heater
Exhibit
10.50
May 22,
2008
Xxxxxx X.
Heater
000
Xxxxxxxxxxx Xxxxx
Xxxxxxxxxxx,
XX 00000
Re: Amendment to Employment
Agreement
Dear
Xxx,
As
Chairman of the Executive Committee of the WPCS International Incorporated Board
of Directors, I wish to inform you that the committee has duly executed a
resolution to increase your compensation. This letter shall serve as an
amendment to the employment agreement effective June 1, 2005 between Employee
and Employer (the “Agreement”). Capitalized terms used but not defined herein
shall have the meaning ascribed to them in the Agreement. Section 5 of the
Agreement is hereby amended and replaced in its entirety with the
following:
___
5. Compensation of Heater. As
compensation for the services provided by Heater under this Paragraph, the
Company shall pay Heater an annual salary of Two Hundred Fifty Thousand Dollars
($250,000) to be paid in accordance with the Company’s usual payroll procedures.
In addition to the above base compensation, Heater shall be eligible to receive
bonuses based on the performance of the Company.
___
The
foregoing amendment shall be effective as of June 1, 2008. Please confirm your
acceptance by signing below.
Respectfully,
| /s/ Xxxx Xxxxxxxx | |||
| Xxxx Xxxxxxxx | |||
| Chairman of the Executive Committee | |||
| Board of Directors | |||
| WPCS International Incorporated |
Accepted
and agreed to this the 22nd day of May
2008.
| /s/ Xxxxxx X. Heater | |||
| Xxxxxx X. Heater | |||
