Fourth Amendment to Employment Agreement
Exhibit
10.5
Fourth Amendment
to
This Fourth Amendment to Employment Agreement
(the “Fourth
Amendment”), is being entered into effective October
20, 2016 by and between ImageWare Systems, Inc., a Delaware
corporation (the “Company”) and Mr. Xxxxx Xxxxxxx
(the “Executive”).
Whereas, the Company and Executive entered into an
Employment Agreement dated as of January 1, 2013 and subsequently
amended on November 1, 2013, January 9, 2015 and December 14, 2015
(as amended, the “Employment
Agreement”);
WHEREAS, the Executive continues to perform valuable
services for the Company and the Company desires to assure itself
of the continuing services of Executive; and
WHEREAS, in consideration of the foregoing and in order
to amend the terms of the Agreement and to provide for the
continued services of the Executive in accordance with the present
intent of the Company and the Executive.
NOW
THEREFORE, in consideration of
the foregoing and for other good and valuable consideration,
receipt of which is hereby acknowledged, and in further
consideration of the mutual covenants contained in the Employment
Agreement, the parties do hereby agree that the Employment
Agreement is hereby amended as follows:
1.
Section “3. Term
of Agreement” strike the language “continue until December
31, 2016” and replace it with “continue until December
31, 2017”.
2.
Except as expressly
amended herein, the Employment Agreement shall continue and be in
full force in all respects.
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/s/ S. Xxxxx
Xxxxxx
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/s/ Xxxxx
Xxxxxxx
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ImageWare Systems,
Inc.
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Xxxxx
Xxxxxxx
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