Fifth Amendment to Employment Agreement between ImageWare Systems, Inc. and Wayne Wetherell (January 31, 2012)

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment extends the employment agreement between ImageWare Systems, Inc. and Wayne Wetherell, originally dated September 27, 2005, and previously amended several times. The new amendment changes the agreement's end date from December 31, 2011, to June 30, 2012. All other terms of the original agreement remain unchanged. The purpose is to ensure Mr. Wetherell continues his employment with the company through the new date.

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EX-10.45 4 ex10-wetherell.htm FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT, DATED JANUARY 31, 2012, BETWEEN THE COMPANY AND WAYNE WETHERELL, FILED HEREWITH. ex10-wetherell.htm
Exhibit 10.45
 
Fifth Amendment
to
Employment Agreement

This Fifth Amendment to Employment Agreement (the “Fifth Amendment”), is being entered into effective January 31, 2012 by and between ImageWare Systems, Inc., a Delaware corporation (the “Company”) and Mr. Wayne Wetherell (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 and again on March 10, 2011 (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, 2011” and replace it with “continue until June 30, 2012”.
 
2.
Except as expressly amended herein, the Employment Agreement shall continue and be in full force in all respects.


/s/ S. James Miller
ImageWare Systems, Inc. 
s/ Wayne Wetherell
Wayne Wetherell