AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN WILLIAM R. DUNAVANT AND TRUE PRODUCT ID, INC. DATED NOVEMBER 4, 2007
AMENDMENT TO EMPLOYMENT AGREEMENT
BETWEEN XXXXXXX X. XXXXXXXX AND TRUE PRODUCT ID, INC.
DATED NOVEMBER 4, 2007
This 4th day of March, 2008, TRUE PRODUCT ID, INC. and XXXXXXX X. XXXXXXXX hereby agree to amend the employment agreement between TRUE PRODUCT ID, INC. and XXXXXXX X. XXXXXXXX dated November 4, 2007 as follows:
·
Xx. Xxxxxxxx’x title and position shall be changed from Chief Executive Officer to “Managing Director of Global Strategic Initiatives”;
·
Xx. Xxxxxxxx shall resign his position as a member of the board of directors of True Product ID, Inc.;
·
Xx. Xxxxxxxx’x base salary shall be changed from US$240,000 per annum to US$200,000 per annum.
To the extent not inconsistent with the two immediately preceding paragraphs, all other terms and conditions in the November 4, 2007 employment agreement between True Product ID, Inc. and Xxxxxxx X. Xxxxxxxx shall remain unchanged and remain in full force.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.
_____________________________________
XXXXXXX X. XXXXXXXX
BY:_________________________________
Xxxxxxx X. Xxxxxxxxxx
Secretary
CORPORATE SEAL
0000 Xxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxxxxxxxx, XX 00000
XXX
Ph: 215.972.6999; xxx.xxxx.xxx
