PureDepth Incorporated Limited
EXHIBIT
10.33
PureDepth
Incorporated Limited
Xxxxxxx
Xxxxxx
00 Xxxxx
Xxxxxx
Xxxxxxx
Xxxxxxxx
June
5, 2008
Dear
Xxxxxxx
VARIATION
TO EMPLOYMENT AGREEMENT
The
purpose of this letter is to record the terms of our agreement regarding your
staged resignation as an employee of PureDepth Incorporated Limited
("PDIL").
The terms
in this letter vary, as necessary, the terms of the Individual Employment
Agreement dated 31 March 2005 between you and PDIL ("Employment
Agreement").
We have
agreed to the following terms:
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1.
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You
have resigned your position with PDIL, effective 14 June
2008. PDIL and you agree that the notice period set out in your
Employment Agreement will not
apply.
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2.
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From
17 April 2008 to 14 June 2008, you agree to take 4 days annual leave per
week, until your annual leave is
exhausted.
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3.
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From
17 April 2008 to 14 June 2008,
you will work for the equivalent of 1 day per week. For the
avoidance of doubt, PDIL and you agree that you may work the equivalent of
one day (8 hours), over several days of each
week.
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4.
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From
17 April 2008 to 14 June 2008,
you will be paid at the rate of one-fifth (1/5th) of your current salary
($257,000 per annum), on a weekly
basis.
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5.
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You
will continue to act as a director of PureDepth Limited, PureDepth
Incorporated Limited and PureDepth, Inc. until you resign from those
directorships or are removed as a director in accordance with relevant
laws and constitutional documents pertaining to each of those
companies.
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As the
terms set out in this letter constitute a variation to your Employment
Agreement, you have the right to seek independent advice about these
terms. If you agree to all of these terms, please sign
below.
Yours
faithfully
Xxxxxxxx
X. XxXxxxx
PureDepth
Incorporated Limited
I agree
to the Variation of my Employment Agreement, as set out in this
letter. I confirm that I have had the opportunity to take independent
advice about the terms of this Variation.
| __________________________________ | __________________ |
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Xxxxxxx
Xxxxxx
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Date
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