EX-10.1 2 ex10-1.txt Exhibit 10.1 ------------ 368 Venus Street Thousand oaks, CA 91360 July 17, 2007 Barry S. Howe President and CEO Electronic Sensor Technology, Inc 1077 Business Center Circle Newbury Park, CA 91320 Re: Consulting Agreement Dear Barry: This is to summarize the arrangement for the consulting services after my retirement effective July 17, 2007 based on the discussions we had and Board's recommendation as follows: 1. I will accept an offer to be in house consultant for a period of SIX (6) months from July 17 to January 16, 2008. The areas that I will continue to get involved and to concentrate my efforts to will include the coordinating and advising on the marketing strategies in Asia and setting up the sales sub-channels as well as entering new market segments and other topics or projects that the Company may be benefited from my experiences. 2. The above arrangement will be on a retainer basis. My fee shall be equal to my current compensation, i.e. $13,437 monthly. Should you agree that the above is the understanding between us, please confirm this by signing at the space provided below and return a copy of this letter to me for the record. Sincerely, /s/ Teong C. Lim Teong C. Lim Agreed and Accepted: /s/ Barry S. Howe ---------------------------------- Barry S. Howe, President and CEO Electronic Sensor Technology, Inc.