Ninth Amendment to Employment Agreement
Exhibit 10.3
Ninth Amendment
to
This Ninth Amendment to Employment Agreement
(the “Ninth Amendment”), is being entered into
effective October 20, 2016 by and between ImageWare Systems, Inc.,
a Delaware corporation (the “Company”) and Mr. S. Xxxxx
Xxxxxx Jr. (the “Executive”).
WHEREAS, the Company
and Executive entered into an Employment Agreement dated as of
September 27, 2005 and subsequently amended on September 27, 2008,
April 6, 2009, December 10, 2009, March 10, 2011, January 31, 2012,
November 1, 2013, January 9, 2015 and again on 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 “2. 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/ Xxxxx Xxxxxxxxx
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/s/ S. Xxxxx
Xxxxxx
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ImageWare Systems,
Inc.
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S. Xxxxx
Xxxxxx
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