May 22, 2008 Andrew Hidalgo
Exhibit
10.49
May 22,
2008
Xxxxxx
Xxxxxxx
000
Xxxxxxxxx Xxxxx
Xxxxxxxxxxx,
XX 00000
Re: Amendment to Employment
Agreement
Dear
Andy,
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 February 1, 2004 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 Xxxxxxx. As
compensation for the services provided by Xxxxxxx under this Paragraph, the
Company shall pay Xxxxxxx an annual salary of Three Hundred Twenty-Five Thousand
Dollars ($325,000) to be paid in accordance with the Company’s usual payroll
procedures. In addition to the above base compensation, Xxxxxxx 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 Xxxxxxx | |||
| Xxxxxx Xxxxxxx | |||
