Document:

Exhibit 10.1

 

Amendment to Convertible
Promissory Note AND PAYOFF AGREEMENT

This AMENDMENT TO CONVERTIBLE PROMISSORY NOTE AND PAYOFF AGREEMENT
(this “Amendment”) is dated April ___, 2021 (the “Effective Date”), and is by and between Cuentas
Inc., a Florida corporation (the “Company”), and Ari Ghershony (the “Holder”). Capitalized terms
used herein and not otherwise defined in this Amendment shall have the meanings set forth in the Original Note (as defined below).

WHEREAS, the Company and the Holder are parties to that certain
Convertible Promissory Note in the principal amount of $250,000, dated November 12, 2021 (the “Note”), which is convertible
to common stock of the Company at a price of $6.875 per share (after adjustment following a reverse stock split of the Company’s
common stock); and

WHEREAS, in order to eliminate the Company’s obligations
under the Note and to incentivize the partial conversion of the Note, the Company and the Holder desire to amend the Note to provide that
the Company shall prepay a portion of the Note and the remainder shall be converted into shares of common stock at a reduced Conversion
Price.

NOW, THEREFORE, in consideration of the mutual covenants and
agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

1.                  
Partial Prepayment of Note. The Company agrees that, within five (5) days of the execution of this Amendment, it shall
pay to the Holder as a prepayment under Section 3 of the Note, an amount equal to $125,000 plus $ 5,000.00, which represents the amount
of interest accrued on such $125,000 since the date on which the loan was made under the Note through April 16, 2021.

2.                  
Amendment and Concurrent Conversion of Note. The Company and the Holder agree that the existing Conversion Price on the
Note shall be hereby reduced from $6.875 per share to $4.30 per share and the remaining amount due and payable by the Company on the Note
shall be converted by the Holder into 30,233 shares of Common Stock of the Company at a Conversion Price equal to $4.30 per share. It
is agreed that the Holder will convert such remaining principal amount and interest accrued within five (5) days of the execution of this
Amendment by surrender of the Note and providing a notice of conversion attached to the Note.

3.                  
No Further Obligations. Upon receipt by the Holder of the cash payment due pursuant to Section 1 herein and the shares due
pursuant to Section 2 herein, the Note shall be deemed to be canceled with no further force and effect and the Holder shall unconditionally
release and forever discharge the Company from any obligations pursuant to or related to the Note.

    	 		 

     

    

 

4.                  
Holder Representations.

a.                  
The Holder is the beneficial owner and sole legal owner of, and has good and valid title to the Note, free and clear of any mortgage,
lien, pledge, charge, security interest, encumbrance, title retention agreement, option, equity or other adverse claim thereto (“Claims”).
The Holder has not, in whole or in part, (i) assigned, transferred, hypothecated, pledged or otherwise disposed of the Note or its rights
in the Note, or (ii) given any person or entity any transfer order, power of attorney or other authority of any nature whatsoever with
respect to the Note

b.                  
The Holder understands that the shares that will be issued upon conversion of the Note in accordance with Section 2 herein are
“restricted securities” and have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”) or any applicable state securities law. The Holder will only sell or transfer the shares as permitted under the Securities
Act and the Holder acknowledges and agrees to the placement of a legend on any certificate or other document evidencing the shares with
respect to the restrictions on the transferability of such shares. The legend to be placed on each certificate shall be in form substantially
similar to the following:

“THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR
“BLUE SKY LAWS,” AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED ABSENT AN EFFECTIVE REGISTRATION
THEREOF UNDER SUCH ACT OR COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL,
REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

c.                  
Holder understands that an investment in the Company is speculative and risky. Holder has substantial knowledge and experience
in business and investment matters as to be capable of evaluating the risks and merits of Holder’s investment in the Company. To
the extent Holder believes appropriate, Holder has discussed with Holder’s own professional legal, tax and financial the Note and
this Amendment. Holder has also carefully considered and, to the extent Holder believes appropriate, has discussed with Holder’s
own professional legal, tax and financial advisors the suitability of an investment in the Company for Holder’s particular tax and
financial situation. In entering into the Note or this Amendment, Holder has not relied on any legal, tax or financial advice of the Company
or its advisors;

d.                  
Holder has had the opportunity to ask questions of, and receive answers from the Company or any authorized person acting on their
behalf concerning the Company and its proposed business plan and to obtain any additional information regarding the Company and the transactions
undertaken hereby. In connection therewith, Holder has had the opportunity to discuss the Company’s business, management and financial
affairs with the Company’s management. Holder has received and reviewed all the information concerning the Company and transaction
undertaken hereby that Holder desires;

e.                  
The Holder is not now, and following execution of this letter agreement will not be, liable for any brokerage, finder’s or
solicitation fees or commissions with respect to the transactions contemplated by this letter agreement;

f.                   
The Holder is not an underwriter with respect to the shares received hereby, nor will the shares be part of any proposed transaction
deemed to be a distribution of securities of the Company;

g.                  
The Holder is not acquiring the shares with knowledge of material information concerning the Company which has not been generally
disclosed; and

    	 	2	 

     

    

 

h.                  
the Holder has not received or been provided with a prospectus, offering memorandum, or any sales or advertising literature in
connection with the issuance of the shares and the Holder’s decision to convert the Note in accordance with the terms herein was
not based upon, and the Holder has not relied upon, any verbal or written representations as to facts made by or on behalf of the Company,
other than those set out herein.

5.                  
No Other Amendment. Except as expressly modified by this Amendment, all terms, conditions and covenants contained in the
Note shall remain in full force and effect.

6.                  
Governing Law. This Amendment shall be governed by and construed in accordance with the internal Laws of the State of New
York without giving effect to any choice or conflict of law provision or rule (whether of the New York or any other jurisdiction) that
would cause the application of laws of any jurisdiction other than those of the State of New York.

7.                  
Counterparts. This Amendment may be signed (including electronic signature) in any number of counterparts, all of which
taken together shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

    	 	3	 

     

    

IN WITNESS WHEREOF, the parties are signing this Amendment as of
the date written in the introductory paragraph of this Amendment.

	 	
     

    ________________________________________

    Arie Ghershony

	 	
    Cuentas Inc.

    By:____________________________________

    Ran Daniel

    CFO

	 	 

 

 

4Document

Exhibit 10.1

L. B. FOSTER COMPANY
ANNUAL EXECUTIVE INCENTIVE COMPENSATION PROGRAM
The purpose of this document is to establish in writing the performance goals and other terms applicable to cash financial performance awards for each fiscal year of the Company which constitutes a Performance Period (the "Program") as authorized under the L.B. Foster Company Executive Annual Incentive Compensation Plan ("ExIP").
I.DEFINITIONS 
a. Defined terms used but not defined herein shall have the meanings ascribed to them in the Executive Incentive Plan master document under which each annual Program is established.
II.TERMS AND CONDITIONS 
a.Unless otherwise determined by the Compensation Committee, the Performance Period shall be one calendar year.
b.Each Participant shall receive a cash award in an amount equal to Participant's base compensation multiplied by a target percentage established by the Committee based upon the position held by the Participant as approved by the Compensation Committee and set forth on Exhibit A, on file with the Committee (the "Target Percentage") (an "Award"). The amount of any Award earned and payable is calculated with reference to the percentage achievement of certain Performance Measures established by the Committee and as described below.
c.Participant's base compensation shall be the Participant's salary on March 1, rounded to the nearest whole dollar.
d.Participants in the Program are listed on Exhibit A on file with the Committee, which identifies each Participant's title and Company operating unit, and Target
Percentage for the applicable Performance Period.
e.A Participant's right, if any, to receive payout of an Award, if earned, shall be contingent upon Participant having executed a Confidentiality, Intellectual Property and Non-Compete Agreement in a form satisfactory to the Committee. Further, in order to receive any payout of an Award, the Participant must have begun employment with the Company by October 1 of the Program's Performance Period.
f.In the event a Participant changes from one position to another position or is promoted into one of the positions approved by the Committee during the Performance Period, the Target Percentage for such Participant shall be pro-rated between the Target Percentages applicable to each position held during the Performance Period, and such Award will be determined on the pro-rated basis based on the number of full months employed during the Performance Period.

g. In order to be eligible to receive any payout of an Award, if earned, a Participant must be actively employed by the Company on the date the Award is paid. In no event is a Participant entitled to any pro-rata payment of an Award under the terms of this Program, except to the extent the Board has approved a Participant's retirement or termination from the Company, in which case the Committee may provide a pro-rata payment based on the Participant's active employment before the Board-approved retirement or termination.
III. CALCULATING PAYOUT OF AWARDS 
The payout of Awards shall be calculated as set forth below:
a.A Participant's Award shall be determined and allocated by multiplying the Award by the Company's adjusted level of attainment of the financial Performance Measures identified below, weighted as indicated:
												
		Performance 
Measure	CEO, COO, CFO;
SVP, HR & Admin; SVP &
General Counsel; and Controller & CAO	Execcutive SVPs or VPs Responsible for Operating Unit(s)
	Financial Performance Awards	Operating Unit 
Adjusted EBITDA	--	50%
	Working Capital as 
a % of Sales	25%	20%
	Corporate Adjusted 
EBITDA	75%	30%

b.The amount of an Award payout shall be calculated and adjusted upward or downward based on the actual level of attainment of the above Performance Measures, Adjusted EBITDA and Working Capital as a % of Sales (Corporate and Operating Unit), utilizing the percentage multipliers as set forth in the tables below. Straight-line interpolation will be used to determine the achievement between each level.
						
	Adjusted EBITDA Multiplier
	% of Target Adjusted EBITDA	Corporate or Operating Unit Multiplier
	130% and over	200%
	100%	100%
	70%	50%
	Less than 70%	0%

						
	W/C as a % of Sales Multiplier
	% of Target Average W/C as a % of Sales	Corporate or Operating Unit Multiplier
	86.0% and under	200%
	100%	100%
	121.5%	50%
	Greater than 121.5%	0%

c.Definitions of the Performance Measures and possible adjustments are noted on Schedule 1.10 attached hereto.
d.Payment of a cash Award under the ExIP will follow the Committee's determination of such incentive award and following the date the Company files its report on Form 10-K for the period ending on the last day of the Performance Period.
III.RECOUPMENT
All Awards granted hereunder are made subject to the L.B. Foster Executive Recoupment Policy which is incorporated herein by reference (the "Policy.") The Policy provides for the clawback by the Company and repayment by the Participant of cash awards paid hereunder in the event of an accounting restatement applicable to any financial reporting period within the Performance Period due to material noncompliance of the Company with any financial reporting requirement under the securities or other applicable laws.
IV.COMPENSATION COMMITTEE 
As set forth in the ExIP document, the Compensation Committee retains all rights and discretion to modify, eliminate, or replace the ExIP and the Program at any time. The Committee will interpret and apply the ExIP and this Program at its discretion, and may adjust financial Performance Measures, weighting, and/or multipliers as it deems appropriate in its sole discretion, or increase, decrease, or eliminate any Award or payout hereunder. All determinations with respect to any Award shall be made by the Committee and shall be final, conclusive and binding on the Company, the Participant and any and all interested parties.
The undersigned Chairman of the Compensation Committee hereby certifies, on behalf of the Committee, that the performance goals and other material terms applicable have been determined and approved at the Committee meeting held in February of the Program's Performance Period.
			
	Approved:
	/s/ Robert S. Purgason
	Robert S. Purgason
	Chairman, Compensation Committee
	
	3/4/2021
	Date

Schedule 1.10
PERFORMANCE MEASURES AND ADJUSTMENTS 
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA): shall mean with respect to the Company or an Operating Unit, for the Fiscal Year (a) income from continuing operations; (b) plus income tax expense; (c) plus interest expense; (d) minus interest income; (e) plus depreciation expense; and (f) plus amortization expense; (g) plus and minus the adjustments below.
Working Capital as a Percentage of Sales ("W/C as a % of Sales"): shall mean with respect to the Company, or as applicable, for an Operating Unit, for the Fiscal Year, the average monthly balances of Inventory and Accounts Receivable less the average monthly balances of Accounts Payable and Deferred Revenue divided by annual net sales. Results shall be determined incorporating approved adjustments below.
The following adjustments are guidelines subject to board approval.
									
	Adjustment Description
Unplanned reductions or add-backs to results for gains and losses	Adjusted EBITDA	W/C as a % of Sales
	Effects of changes in accounting or tax law	X	X
	Divestitures of properties, businesses, investments, equity in affiliates or held for sale as discontinued operations	X	X
	Costs of an acquisition or potential acquisition, purchase accounting and operating results of an acquisition completed during the year	X	X
	Any significant or non-recurring item(s) (these items include, but are not limited to a restructuring, long-lived asset impairment, warranty costs, product liability, legal settlement, environmental charges) that in total exceed $200,000 in EBITDA (favorable or unfavorable)	X

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