Unassociated Document


    Exhibit
      10.29 

     

    AMENDMENT
      NO. 4

    to

    AGREEMENT
      AND PLAN OF REORGANIZATION

    Dated
      February 19, 2007

    


    


    THIS
      AMENDMENT NO.4 (the "Amendment"), made as of this 3rd day
      of
      December, 2007, is made by and among Magnitude Information Systems, Inc.
      ("Magnitude"), Kiwibox Media, Inc. ("Kiwibox"), Michael Howard, Lin Dai and
      Ivan
      Tumanov, individuals, who are the shareholders of Kiwibox (the "Kiwibox
      Shareholders").

    


    BACKGROUND:

    


    WHEREAS,
      Magnitude, Kiwibox and the Kiwibox Shareholders executed and delivered a certain
      Agreement and Plan of Reorganization, dated February 19, 2007 (the "Agreement")
      that scheduled the closing of the transactions described therein to take place
      on or before March 31, 2007 and extended the closing date from on and about
      March 31, 2007 to May 15, 2007 by virtue of Amendment No. 1 dated April 4,
      2007;
      and

    


    WHEREAS,
      due to certain delivery requirements, the parties further amended the Agreement
      and rescheduled the closing date from on or about May 15, 2007 to June 18,
      2007
      by virtue of Amendment No. 2, and;

    


    WHEREAS,
      on July 30, 2007 the parties executed and delivered Amendment No. 3 to the
      Agreement providing for (A) a new schedule for the payments due to the Kiwibox
      Shareholders; (B) a new schedule for the overall investment of the $3.5 million
      Magnitude has committed to raise and invest into Kiwibox; (C) certain penalty
      provisions and termination rights in the event of an uncured default, and;
      (D) a
      new closing date of August 16, 2007;

    


    WHEREAS,
      the Kiwibox acquisition closed on August 16, 2007 and due to delays by Tell
      Capital AG in its payments commitments, the parties have agreed to extend the
      Company payment date for the payment due November 1, 2007 in the amount of
      $625,000 until December 31, 2007 in consideration of certain cash payments
      agreed to be made by Magnitude. .

    


    NOW,
      THEREFORE, in consideration of the mutual promises and covenants made by the
      parties to each other, the parties agree as follows:

    


    A.
      Amendment of Agreement: The
      parties hereto agree to amend Amendment No. 3 to the Agreement effective as
      of
      the date set forth above, as follows:

    


    1.
      Magnitude $3.5 million Investment. Section
      3D of Amendment No. 3 shall be amended by deleting the date of November 1,
      2007
      and substituting in lieu thereof the date of December 1, 2007:

    


    2.
      Magnitude Extension Payment.
      A new
      Section 3(G) shall be inserted into Amendment No. 3, adding the following new
      provision: 

    


    (G)
      On or
      before December 5, 2007, Magnitude shall make a payment of $50,000 to the
      shareholders of Kiwibox. In the event that the $625,000 payment due pursuant
      to
      this Amendment No. 4 is not received on or before December 5, 2007, Magnitude
      shall make an additional payment of $50,000 to the Kiwibox shareholders on
      December 5, 2007. All Magnitude payments made under this Section 3(G) shall
      be
      disbursed 33 and 1/3% to each of the three Kiwibox shareholders. 

    


    B.
      Reconfirmation. The
      parties hereto reconfirm and acknowledge the legal viability of the Agreement,
      including Amendments No. 1, No. 2, No. 3 and this Amendment No. 4 thereto
      between them as well as all of the terms and provisions of the Agreement and
      amendments not modified by this Amendment.

    


    


    IN
      WITNESS WHEREOF, the parties have signed this Amendment as of the day, month
      and
      year first above written.

     

    
      	Kiwibox Media, Inc. 	 	 	Magnitude Information Systems,
              Inc.
	 	 	 	 
	By:
              /s/ Lin
              Dai	 	 	By:
              /s/ Edward L. Marney
	
              
                
Lin
                Dai, President

            	 	 	
              
                
Edward
                L. Marney,
                President

            




     

    
      	/s/ Ivan Tumanov	/s/ Michael Howard	/s/ Lin Dai
	
              
Ivan
              Turmanov	
              
Michael
              Howard 	
              
Lin
              Dai
	Kiwibox Shareholder 	Kiwibox Shareholder 	Kiwibox Shareholder