Exhibit 10.1
[uWink Letterhead]
October 26, 2006
Willliam Xxxxx
0 Xxxx Xxxxxx Xx
Xxxxxxxxx, XX 00000
Dear Xx. Xxxxx:
Reference is made to the $100,000, 10% Convertible Note, dated September 8, 2005
between uWink, Inc. (the Company) and you. This letter will confirm our
agreement regarding the note as follows:
Effective as of the date hereof, you hereby agree to convert the $100,000
principal amount and $11,555 in accrued interest outstanding under the note into
shares of common stock at a conversion of $1 per share. In accordance with the
terms of the note, you will be entitled to an additional 20% of such amount in
shares of common stock, such that the total amount to be converted is $133,866.
As such, you hereby agree to accept 133,866 shares of common stock of the
company, in full and final satisfaction of the company's obligations to you
under the note.
Best,
/s/ Xxxxx X. Xxxxxxxx
---------------------
Xxxxx X. Xxxxxxxx
Chairman and CEO
Agreed and accepted:
/s/ Xxxxxxx Xxxxx
---------------------
Xxxxxxx Xxxxx
