EXHIBIT 10.1
ADDENDUM
This Addendum (the "ADDENDUM") to the Consulting Agreement dated September 23,
2008 (the "AGREEMENT"), by and between WIN GAMING MEDIA, INC., a corporation
incorporated under the laws of the State of Nevada with its offices located at
000 Xxxxx Xx., Xxxxxxxxxx, XX 00000, XXX (the "Company") and Citron Investments
Ltd., an Israeli Private Company Number 512083270, having its principal place of
business at 0 Xxxxxx Xxxxxx, Xxxxx Xxx 00000, Israel ("Consultant"), is made as
of the 9th day of December, 2010.
WHEREAS the Company and the Consultant, who entered the Agreement, wish to amend
the Agreement under the terms as provided herein; NOW THEREFORE, in
consideration of the promises and the mutual covenants and agreements herein
contained, the parties hereby agree as follows:
1. All capitalized terms used herein and not otherwise defined shall have the
meaning ascribed to them in the Agreement.
2. The parties acknowledge that starting on January 1, 2010, due to the
Company's and its subsidiaries' growing activity in the field of binary
options which required additional intention and efforts of the Consultant,
the Consultant provided to the Company the Services on a full time capacity
notwithstanding the fact that the Agreement provides that the Consultant
should have devoted 25 (twenty five) hours per week for the provision of
the Services. The parties agree that the Consultant shall continue to
provide the Services on a full time. Accordingly, it is agreed as follows:
2.1 It is agreed that the Consultant shall receive from the Company a
special bonus for the year 2010 in consideration of meeting the
Company's goals, in the amount of Eighty Four Thousand US Dollars
(US$84,000). It is agreed between the parties that the bonus shall be
paid based on the Company's cash flow and any delay in paying such
amount by the Company to Consultant shall not be considered a breach
of this addendum.
2.2 Notwithstanding section 2.1 to the Agreement, it is agreed that,
effective January 1, 2011, the annual Fee shall be set at Two Hundred
Thousand US Dollars (US$ 200,000).
3. It is further agreed that the Consultant shall be entitled to receive, in
addition to the annual fee as set out in this Addendum, a recurring annual
bonus in the amount of $50,000 (fifty thousand US dollars) subject to
meeting the Company's goals as specified in the Company's approved annual
budget and for each year there after.
4. All other terms and conditions of the Agreement shall remain in full force
and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Addendum through their
duly authorized signatories as of the date set forth above.
/s/ Adiv Barcuh /s/ Xxxxxx Xxxxxx
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WIN GAMING MEDIA, INC. CITRON INVESTMENTS LTD.
By: Adiv Baruch By: Xxxxxx Xxxxxx
Its: Chairman Its: Owner
