Dr. Joseph Louro c/o Global Investor Services, Inc.
Xx. Xxxxxx Xxxxx
000 Xxxx 000 Xxxxx
Orem, Utah 84058
June 29, 2011
Via Electronic Mail
Xxxxxxx Xxxxxx, CFO
000 Xxxx 000 Xxxxx
Orem, Utah 84058
Re: Salary
Dear Xx. Xxxxxx:
Reference is hereby made to that certain employment agreement between myself and Global Investor Services Inc. (the “Company”), which was received by the Company on June 24, 2011, pursuant to which I was appointed as the Chief Executive Officer and Chairman of the Company in consideration of an annual salary of $300,000. I hereby agree to forego payment of my salary, which shall be incurred and booked by the Company but not paid, and receive a salary of $1.00 per year until such time, in my sole discretion, that the Company is able to pay such salary.
|
Sincerely,
|
|
|
/s/Xx. Xxxxxx Xxxxx
|
|
|
Xx. Xxxxxx Xxxxx
|
ACKNOWLEDGED AND AGREED:
By:/s/ Xxxxxxx Xxxxxx
Name: Xxxxxxx Xxxxxx
Title: Acting CFO
