Salary Adjustment Agreement between Applied DNA Sciences, Inc. and Dr. James A. Hayward
Applied DNA Sciences, Inc. agrees to reduce Dr. James A. Hayward's annual salary from $350,000 to $300,000 effective June 21, 2014, at his request. The $50,000 reduction will be accrued and repaid to Dr. Hayward once the company achieves $3,000,000 in sales for two consecutive quarters or becomes profitable at the end of any fiscal year. Questions regarding this adjustment can be directed to the Executive Director of Human Resources.
Exhibit 10.28
June 23, 2014
To: File
Re: Salary Adjustment—Dr. James A. Hayward
In response to Dr. James A. Hayward's request, his annual salary will be adjusted from $350,000 to $300,000 effective June 21, 2014. This salary adjustment will be accrued and repaid when Applied DNA Sciences, Inc. reaches $3,000,000 in sales for two (2) consecutive quarters or the company makes a profit at the end of any fiscal year.
Any questions can be directed to the Executive Director, Human Resources.
Sincerely,
| /s/ Lawrence C. Kick | |
| Lawrence C. Kick, MA, SPHR | |
| Executive Director, Human Resources | |
| Applied DNA Sciences, Inc. |
50 Health Sciences Drive • Stony Brook, NY 11790 • tel ###-###-#### • fax ###-###-####
