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.

                


        

         

        
          	 	
                  2.

                	
                  Participants.
                    Jeffrey
                    Soinski, David Green, Donald Solomon, Paul Evans and Rebecca
                    Whitney.

                


        

         

        
          	 	
                  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).

                


        

         

        
          	 	
                  4.

                	
                  Change
                    in Control. For
                    purposes of this Plan, “Change in Control” shall mean:
                    

                


        

         

        
          	 	
                  (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;

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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
                    

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  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.
                    

                


        

         

        
          	 	
                  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:

                


        

         

        
          	 	
                  (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;

                


        

         

        
          	 	
                  (b)

                	
                  Willful
                    and gross misconduct;

                


        

         

        
          	 	
                  (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

                


        

         

        
          	 	
                  (d)

                	
                  Willful
                    and material failure to comply with the Company’s Code of
                    Conduct.

                


        

         

        
          	 	
                  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.

                


        

         

        
          	 	
                  9.

                	
                  Payment
                    of Bonus Awards. Bonus
                    awards will be paid upon, or within five days following, a Change
                    in
                    Control.

                


        

         

        
          	 	
                  10.

                	
                  Administration.
                    

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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).

                


        

         

        
          	 	
                  (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:

                


        

         

        
          	 	
                  (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;

                


        

         

        
          	 	
                  (iii)

                	
                  To
                    maintain sufficient data and make required payments of
                    benefits;

                


        

         

        
          	 	
                  (iv)

                	
                  To
                    engage consultants, including legal, investment and actuarial
                    advisors,
                    and rely on their recommendations;
                    and

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	
                  12.

                	
                  Miscellaneous
                    Provisions

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (e)

                	
                  Controlling
                    Law.
                    This Plan will be governed by and construed and enforced in accordance
                    with the laws of the State of Utah. 

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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.

                


        

         

        
          	 	
                  (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,
          the
          Company has caused this Plan to be executed by its duly authorized officer,
          this
          10th day of March, 2008.

         

        
          	 	 	 
	 	
                  Specialized
                    Health Products International, Inc.

                
	 
 	 
 	 
 
	
                	By:  	/s/
                  Jeffrey M. Soinsk
	 	
                  
Jeffrey
                  M. Soinski
	 	
                  Its:
                    Chief Executive Officer

                


        

         

        
          
            
            

          

          
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