MODIFICATION OF AGREEMENT
WHEREAS, OxySure Systems, Inc. ("OxySure") and Xxxxx X. Xxxxxxx ("Xxxxxxx") (OxySure and Xxxxxxx jointly, the "Parties") entered into that certain Employment Agreement ("Agreement") dated September 6, 2006; and
WHEREAS, The Parties have agreed that it is in their best interests to modify the terms of the Agreement.
NOW, WHEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES AGREE AS FOLLOWS:
Exhibit A, Section 2(a) — "Base Salary" shall be amended, and Exhibit A, Section 2(a) shall read as follows:
(2) Salary, Bonus and Benefits
(a) Base Salary: For the period commencing August 31, 2008 through January 15,2009: (a) The monthly base salary shall be zero; (b) OxySure shall pay Xxxxxxx'x medical insurance benefits; and (c) OxySure shall issue Xxxxxxx Stock options totaling 9,167 options per month, at an exercise
price of $.50 per share.
All other provisions of the Agreement shall remain unchanged.
Agreed to and accepted:
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By:  |
By:  |
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Xx. Xxxxxx X. Xxxx |
Xx. Xxxxx X. Xxxxxxx, Executive |
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For: OxySure Systems, Inc. |
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| Date: August 30,2008 | Date: August 30, 2008 |
