On March 7, 2012 Ms. Gail L. Babitt agreed to join AnythingIT, Inc. on a full-time basis and she was appointed to its board of directors. As a result of her full-time position with the company, on March 7, 2012 it entered into a three year executive employment agreement with her which superseded her prior agreement. Under the terms of the executive employment agreement, which is effective March 1, 2012, it agreed to pay Ms. Babitt an annual salary of $180,000, and she is entitled to an annual bonus of 1% of its revenues, not to exceed $40,000.