FOREX INTERNATIONAL TRADING CORP.
Exhibit 10.1
0000 Xxxxxx Xxxxxx Xxxxxxx
Suite 000, Xxx Xxxxx, XX 00000
March 4, 2011
Xxxxxxx Xxxxx
Re: Forex International Trading Corp. (the “Company”)
Xx. Xxxxx:
Reference is hereby made to that certain Letter of Appointment between the Company and Xxxxxxx Xxxxx. (“Glass”) dated August 6, 2010 (the “Agreement”) relating to the appointment of Glass to the Board of Directors of the Company. As set forth on section 2(a)(i) of the Agreement, the Company was required to issue to Glass on an annual basis at the commencement of each term shares of common stock of the Company equal to $6,000 divided by the Company’s market price discounted by 25%. The parties, by executing below, hereby agree that section 2(a)(i) of the Agreement is hereby amended and restated as follows:
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i)
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“The Company will issue you on an annual basis at the commencement of each term shares of common stock of the Company equal to $12,000 divided by the Company’s market price discounted by 25%. The shares of common stock shall be restricted as required under the Securities Act of 1933.”
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We kindly request that you execute this letter below indicating that you agree with the above amendment. Upon execution, we will deliver you 50,000 shares of common stock for your first year of service which is equal to $12,000 divided by $0.24 (75% of $0.32 – the closing price on December 9, 2010, the first day of trading).
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Sincerely,
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By:
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/s/ | |
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Name: Xxxxxx Xxxxxxx
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Title: CEO
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AGREED AND ACKNOWLEDGED:
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______________________
Xxxxxxx Xxxxx
