EXHIBIT 10.1
uWink, Inc.
00000 Xxxxxxxx Xx.
Xxx Xxxxxxx, XX 00000
000.000.0000 000.000.0000 fax
xxx.xxxxx.xxx
April 19, 2006
Xxxxxxx Xxxxxx
000 Xxxxxx Xxxxxx
Xxxxx 0
Xxx Xxxxxxxxx, XX 00000
Dear Xxxxxxx:
Reference is made to the $200,000, 10% Convertible Note, dated October 10, 2005,
and due April 10, 2006, between uWink, Inc. (the Company) and you. This letter
will confirm our agreement regarding the note as follows:
1. The Company will make repayment to you on the date hereof of
$100,000 plus all accrued interest on the note, amounting to
$10,356 through the date hereof.
2. In accordance with the terms of the note, the Company will issue
to you warrants, in the form attached as Exhibit A, to purchase
100,000 shares of common stock; provided that, in consideration of
your agreement to enter into a new note regarding the remaining
$100,000 on the original note, the exercise price of such warrants
shall be $0.345 per share.
3. Effective as of the date hereof, you and the Company will enter
into a new $100,000, 6 month 10% Convertible Note, on
substantially the same terms as the original note and in the form
of Exhibit B: provided that upon repayment or redemption of such
note, you will be granted warrants, in the form of Exhibit A, to
purchase an additional 100,000 shares of common stock at $0.345
per share.
Best,
/s/ Xxxxx Xxxxxxxx
Xxxxx X. Xxxxxxxx
Chairman and CEO
Agreed and accepted:
/s/ Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx
