Exhibit 10.1
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000 Xxxxx Xxxxxx
Xxxxxxxx xxxx, XX 00000
July 17, 2007
Xxxxx X. Xxxx
President and CEO
Electronic Sensor Technology, Inc
0000 Xxxxxxxx Xxxxxx Xxxxxx
Xxxxxxx Xxxx, XX 00000
Re: Consulting Agreement
Dear Xxxxx:
This is to summarize the arrangement for the consulting services after my
retirement effective July 17, 2007 based on the discussions we had and Board's
recommendation as follows:
1. I will accept an offer to be in house consultant for a period of SIX
(6) months from July 17 to January 16, 2008. The areas that I will
continue to get involved and to concentrate my efforts to will include
the coordinating and advising on the marketing strategies in Asia and
setting up the sales sub-channels as well as entering new market
segments and other topics or projects that the Company may be
benefited from my experiences.
2. The above arrangement will be on a retainer basis. My fee shall be
equal to my current compensation, i.e. $13,437 monthly.
Should you agree that the above is the understanding between us, please
confirm this by signing at the space provided below and return a copy of this
letter to me for the record.
Sincerely,
/s/ Xxxxx X. Xxx
Xxxxx X. Xxx
Agreed and Accepted:
/s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx, President and CEO
Electronic Sensor Technology, Inc.
