EXHIBIT 10.3E
FOURTH AMENDMENT TO EXECUTIVE
EMPLOYMENT AGREEMENT
BY AND BETWEEN
PACIFIC BIOMETRICS INC. AND RONALD
R. HELM
This Fourth Amendment to Executive Employment
Agreement (“ Fourth Amendment ”) is entered into
by and between Pacific Biometrics, Inc., a Delaware corporation
(the “ Company ”), and Ronald R. Helm (“
Executive ”). This Fourth Amendment amends
that certain Executive Employment Agreement dated June 1, 2005, as
amended August 30, 2006, October 19, 2007 and October 1, 2008, by
and between the Company and Executive (the “ Agreement
”), on the terms set forth below. This Fourth
Amendment shall be effective as of October 1, 2009 (the “
Effective Date ”).
NOW, THEREFORE, in consideration of the mutual
promises contained herein, the parties agree as follows:
1.
Compensation . Section 3 of the Agreement is
revised to read in its entirety as follows:
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Commencing
October 1, 2009, Executive shall be paid a base salary of $300,000
per year payable in installments according to the Company’s
regular payroll schedule.
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Executive is
eligible for an annual bonus of up to a 30 percent of his base
salary, with up to 20 percent based on Company performance goals,
as determined by the Compensation Committee, and up to an
additional 10 percent based on individual performance goals, as
determined by the Compensation Committee.
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Executive is
eligible to receive grants of stock options,
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