**Exhibit      10.50**

**SPECIALIZED      HEALTH PRODUCTS INTERNATIONAL, INC.**

**EXECUTIVE      INCENTIVE BONUS PROGRAM**

**(as      of March 10, 2008)**

|   | 1. | **Introduction.**                The Executive Incentive Bonus Program (the “Plan”) is designed to reward                Executives of Specialized Health Products International, Inc. (the                “Company”) for their contributions to the successful achievement of                certain corporate goals and objectives and to share the success (and                risks) of the business with them. The Plan is designed to meet these                key                objectives: (i) reward achievement of significant company objectives;                (ii)                align employee, Company, and shareholder interests; and (iii) insure                Company executives remain with the                Company. |
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|   | 2. | **Participants.**Jeffrey                Soinski, David Green, Donald Solomon, Paul Evans and Rebecca                Whitney. |
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|   | 3. | **Establishment                of Bonus Pool.**                The Company shall establish a bonus pool for allocation and distribution                to eligible participants in the Plan (the “Bonus Pool”). The Bonus Pool                for purposes of this Plan shall be determined by the Compensation                Committee, in its sole discretion; provided, however, that such Bonus                Pool                shall not exceed One Million Dollars ($1,000,000). The Compensation                Committee may designate that the Bonus Pool shall be funded by proceeds                from a Change in Control (as defined                below). |
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|   | 4. | **Change                in Control.**For                purposes of this Plan, “Change in Control” shall mean: |
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|   | (a) | the                acquisition by a person (or persons acting as a group) of stock,                which                together with stock already held by such person, constitutes more                than                50%** **of                the total voting power of the                Company; |
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|   | (b) | the                sale or disposition by the Company of all or substantially all of                the                Company’s assets (for this purpose being defined as assets (including any                claims or causes of action of the Company) that have a total gross                fair                market value equal to or greater than 80%** **of                the total gross fair market value of all of the Company’s assets), other                than a sale or disposition by the Company of all or substantially                all of                the Company’s assets to an entity, at least 50% of the combined voting                power of the voting securities of which are owned by individuals                who were                stockholders of the Company immediately prior to such                sale. |
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|   | (c) | the                consummation of a merger or consolidation of the Company with any                other                business entity, other than a merger or consolidation which would                result                in the voting securities of the Company outstanding immediately prior                to                such merger or consolidation continuing to represent (either by remaining                outstanding or by being converted into voting securities of the surviving                entity or any parent thereof), at least 50% of the combined voting                power                of the securities of the Company or such surviving entity or any                parent                thereof outstanding immediately after such merger or consolidation,                or |
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|   | (d) | notwithstanding                the foregoing, to the extent that paragraphs (i), (ii) or (iii) above                would result in a Change in Control which would not satisfy the regulatory                requirements for a “change in ownership or effective control” in Treasury                regulations promulgated pursuant to section 409A of the Internal                Revenue                Code, such paragraphs shall be construed and applied in a manner                consistent with such regulatory                definition. |
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|   | 5. | **Allocation                of Bonus Awards.**The                allocation of bonus awards from the Bonus Pool among eligible participants                shall be determined by the Compensation Committee in its sole discretion.                Bonus awards need not be the same with respect to different participants.                The Compensation Committee’s decision to grant a bonus to a participant                shall not require the Compensation Committee to approve similar awards                at                all to such persons for any future date or to any other participant                or                other person. The Company and the Compensation Committee shall not                have                any obligation for uniformity of treatment of any person, including                but                not limited to, participants and their legal representatives and                beneficiaries and employees of the                Company. |
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|   | 6. | **Qualification                for Bonus Allocation.**                Except as described in (a) and (b) below, a participant must remain                in                employment with the Company at least until immediately prior to a                Change                in Control in order to receive such distribution. |
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|   | 7. | **Termination                without Cause.**                Notwithstanding the foregoing, if a participant is terminated from                employment by the Company without Cause prior to a Change in Control,                the                Compensation Committee may, in its sole discretion, allocate a bonus                award                to such participant in accordance with Section 7 of this Plan. For                purposes of this Plan, “Cause” shall                mean: |
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|   | (a) | Willful                failure to perform the duties of his or her position to the Company’s                satisfaction, following notice of such failure from the Company and                a                reasonable opportunity to cure; |
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|   | (b) | Willful                and gross misconduct; |
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|   | (c) | Conviction                of or guilty plea to any felony or conviction of or a guilty plea                to a                misdemeanor involving theft, fraud, embezzlement or other injury                to the                Company, its property or employees or customers;                or |
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|   | (d) | Willful                and material failure to comply with the Company’s Code of                Conduct. |
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|   | 8. | **Death,                Retirement or Disability.**                Notwithstanding the foregoing, if, within six months prior to the                occurrence of a Change in Control, a participant terminates employment                with the Company by reason of death, Retirement or Disability, the                Compensation Committee may, in its sole discretion, allocate a bonus                award                to such participant in accordance with Section 7 of this Plan.                “Disability” shall mean a medically determinable physical or mental                impairment which: (i) renders the individual incapable of performing                any                substantial gainful employment, (ii) can be expected to be of long                continued and indefinite duration or result in death, and (iii) is                evidenced by a certification to this effect by a doctor of medicine                approved by the Compensation Committee. “Retirement” shall mean                termination of a participant’s employment with the Company which occurs on                or after age 60. |
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|   | 9. | **Payment                of Bonus Awards.**Bonus                awards will be paid upon, or within five days following, a Change                in                Control. |
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|   | 10. | **Administration.** |
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|   | (a) | *Appointment                and Tenure*.                The Compensation Committee of the Company’s Board of Directors shall be                the plan administrator, unless the Board of Directors appoints a                different                plan administrator. |
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|   | (b) | *Delegation.*The                plan administrator may delegate to any person or persons the authority                to                sign any documents on its behalf, or to perform any act(s) within                its                authority as set forth in Section                8(c). |
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|   | (c) | *Authority                of Compensation Committee.*The                Compensation Committee has the full discretionary authority to administer                the Plan in all its details, to perform the duties assigned to it                by the                Company, and to perform any act(s) necessary to carry out such duties                including, but not limited to, the                following: |
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|   | (i) | To                maintain and preserve records relating to Participants and former                Participants; |
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|   | (ii) | To                prepare and furnish to participants all information required under                applicable law or the provisions of this                Plan; |
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|   | (iii) | To                maintain sufficient data and make required payments of                benefits; |
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|   | (iv) | To                engage consultants, including legal, investment and actuarial advisors,                and rely on their recommendations;                and |
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|   | (v) | To                determine all claims for benefits under the Plan, and to provide                procedures for determination of claims for benefits. In so doing,                the                Compensation Committee will have the complete discretion and authority                to                make, amend, interpret and enforce all appropriate rules and regulations                for the administration of the Plan and to decide or resolve any and                all                questions, including interpretations of the Plan, as may arise in                such                administration. |
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|   | (d) | *Authority                to Interpret the Plan.*The                Compensation Committee has the sole authority, duty and power (i)                to                construe and interpret the terms and provisions of the Plan, (ii)                to make                determinations regarding eligibility and benefits and (iii) to decide                disputes which may arise in connection with the rights of participants,                in                each case in the sole exercise of his, her, its or their discretion.                All                decision made by the Compensation Committee will be final, conclusive                and                binding on all interested parties. |
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|   | (e) | *Plan                Document Prevails*.                If any form, instrument or other document used in administrating                this Plan                conflicts with the terms of the Plan, the terms of the Plan will                in each                case prevail. |
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|   | (f) | *Construction                of the Plan*.                The Compensation Committee will resolve all questions arising in                the                administration, interpretation and application of the Plan. The                Compensation Committee will correct any defect, reconcile any                inconsistency, or supply any omission with respect to the Plan. All                decisions or actions of the Compensation Committee in respect to                any                question arising out of the administration, interpretation and application                of the Plan and the rules and regulations promulgated hereunder will                be                final and conclusive and binding upon all persons having any interest                in                the Plan. |
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|   | (g) | *Plan                Expenses*.                The Company will pay all expenses incurred by the Company and the                Compensation Committee in connection with the establishment, maintenance                or termination of the Plan. |
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|   | (h) | *Right                to Suspend Benefits and Correct Errors*.* *                The Compensation Committee will take such steps as are considered                necessary and appropriate to remedy any inequity that results from                incorrect information received or communicated in good faith or as                the                consequence of an administrative error. The Compensation Committee                may                suspend the payment until satisfied as to the correctness of the                payment                or the person to receive the payment or to allow filing in any court                of                competent jurisdiction of a suit in such form as the Compensation                Committee considers appropriate for a legal determination of the                benefits                to be paid and the persons to receive them. The Compensation Committee                specifically reserves the right to correct errors of every sort.                The                objective of any such method of error correction will be, to the                extent                reasonably possible, to adjust the account of the participant by                reversing                transactions or taking other actions to approach the situation that                would                have existed if the error had not been made. The Compensation Committee                is                also authorized to recover any payment made in error including the                right                to make deductions from future                benefits. |
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| 11. | **Amendment,                Termination and Suspension** |
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|   | (a) | *Amendment*.                This Company’s Board of Directors may amend the Plan, except that no                amendment may deprive any participant or beneficiary of any right                or                benefit to which he or she is entitled immediately prior to the effective                date of such amendment. |
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|   | (b) | *Termination.*                The Company’s Board of Directors may, by appropriate action, terminate                this Plan. No such termination will deprive a participant or beneficiary                of any benefits to which the participant is entitled under this Plan                immediately prior to the effective date of such termination*.* |
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| 12. | **Miscellaneous                Provisions** |
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|   | (a) | *Non-alienation                of Benefits*.                No participant or beneficiary has the right to alienate, anticipate,                commute, pledge, encumber or assign any of the benefits or payments                under                this Plan. The rights of the participant under this Plan will not                be                subject to the rights of creditors of the participant and will be                exempt                from execution, attachment, prior assignment, or any other judicial                relief                or order for the benefit of any creditors or other third persons                having                claims against the participant. |
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|   | (b) | *No                Contract of Employment*.                Neither the establishment of the Plan, nor the participation in the                Plan,                will be construed as giving any participant the right to be retained                in                the service of the Company. |
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|   | (c) | *Severability                of Provisions*.                If any provision of this Plan is determined to be invalid or                unenforceable, such invalidity or unenforceability will not affect                any                other Plan provision, and the Plan will be construed and enforced                as if                the invalid or unenforceable provisions had not been                included. |
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|   | (d) | *Headings                and Captions*.* *The                headings and captions in this Plan are provided for reference and                convenience only. They are not to be considered part of the Plan,                and they                may not be employed in the construction or interpretation of the                Plan. |
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|   | (e) | *Controlling                Law*.                This Plan will be governed by and construed and enforced in accordance                with the laws of the State of Utah.* * |
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|   | (f) | *Tax                Consequences*.                The Company does not represent or guaranty that any particular Federal                or                State income, estate, payroll, personal property or other tax will                occur                because of the participant’s participation in this Plan. The participant                will be responsible to obtain appropriate advice regarding all questions                relating to Federal, State or local income, estate, payroll, personal                property or other tax consequences arising from participation in                this                Plan. |
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|   | (g) | *Withholding;                Payroll Taxes*.                The Company will withhold from payments or benefits hereunder any                taxes                required to be withheld from such payments under local, state or                federal                law. |
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|   | (h) | *Entire                Agreement*.                This                Plan and properly adopted amendments to the Plan will govern the                provision                of payments pursuant to this Plan. No other instrument, communication                statement of any sort may modify this Plan in any                way. |
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**IN      WITNESS WHEREOF**

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|         | Specialized                Health Products International, Inc.               |
|    |                                                                    |                          |
|         | By:                                                                | /s/              Jeffrey M. Soinsk |
|         | Jeffrey                M. SoinskiIts:                Chief Executive Officer |

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