SETTLEMENT AGREEMENT TO COMPROMISE DEBT

Exhibit 10.1

SETTLEMENT AGREEMENT TO COMPROMISE DEBT

This Agreement to Compromise Debt (the “Agreement”) is made and effective June 3, 2022,

BETWEEN:	Webstar Technology Group, Inc. (the Debtor), a corporation organized and existing under the laws of the State of Wyoming with its head office located at:
	0000 Xxxxxx Xxxx, Xxxxxxxxxxxx, XX 00000
AND:	XXXXX XXXXX (the Creditor), an individual domiciled in the State of Florida domiciled at:
	0000 Xxxxxx Xxxx, Xxxxxxxxxxxx, XX 00000

In consideration of the terms and covenants of this agreement, and other valuable consideration, the parties agree as follows:

Regarding the Company’s debt obligation of $1,644,583.34 (the Debt), as of the date of this Agreement compiled as follows:

	●	Loans to the Company by Creditor, as reflected on the Balance Sheet, in the amount of $756,450.
	●	Accrued salary and automobile allowance from January 1, 2020 until the date of this Agreement in the amount of $874,833.34.
	●	As part of this SETTLEMENT Agreement, Creditor will amend his employment agreement compensation to $1.00 per year.

Debtor agrees to convert 1,101,000 of the Debt into a Convertible Promissory Note in the form of the attachment. The remaining debt is to be forgiven and extinguished by the Creditor.

DEBTOR:

/S/ Xxx X. Xxxxxxx

XXX X. XXXXXXX, PRESIDENT AND CEO

WEBSTAR TECHNOLOGY GROUP, INC.

CREDITOR:

/S/ Xxxxx Xxxxx

XXXXX XXXXX

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