SEC Contract Filing

Filing Date: 2020-07-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea124775ex10-1_cuentas.htm
<DESCRIPTION>NEW EMPLOYMENT AGREEMENT, DATED AS OF JULY 24, 2020, BY AND BETWEEN CUENTAS INC. AND MICHAEL DE PRADO
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMENDED AND RESTATED EMPLOYMENT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Amended and Restated Employment Agreement
(&ldquo;<B>Agreement</B>&rdquo;) is made and entered into by and between CUENTAS, INC. a Florida Corporation (the &ldquo;<B>Company</B>&rdquo;)
and MICHAEL DE PRADO (&ldquo;<B>Executive</B>&rdquo;) as of the date of execution of the Agreement (the &ldquo;<B>Effective Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WITNESSETH</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Executive is currently the
President and Chief Operating Officer of the Company and a member of the board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Executive and the Company have
previously entered into an employment agreement, dated November 5, 2019, (the &ldquo;<B>Prior Employment Agreement</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Executive and the Company have
determined that the Executive will step down as the President and Chief Operating Officer of the Company and continue as a member
of the Board in accordance with the terms of this Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Executive and the Company have
determined that, as of the Effective Date, the Prior Employment Agreement shall terminate and be replaced in its entirety by this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 is hereby acknowledged, the Company and the Executive hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><B>Engagement of the Executive; Duties</B>. During the Employment Term (as hereinafter defined in Section 3 below), the
Executive shall have the title and the position of President and Chief Operating Officer. The Executive agrees to resign in writing
from his position as President and Chief Operating Officer upon the expiration of the Employment Term. As long as the Executive
is a member of the Board, such shall constitute the designation to the Board by the Executive under Section 1.2 (a)(iii) and 1.2
(b)(iii) of the Voting Agreement and Proxy, dated December 31, 2019, by and among the Company, the Executive, Arik Maimon, DINAR
ZUZ LLC, a Florida limited liability company (&ldquo;<B>Dinar</B>&rdquo;), and CIMA TELECOM INC., a Florida corporation doing business
as &ldquo;CIMA Group&rdquo; (&ldquo;<B>CIMA</B>&rdquo;). The Executive acknowledges that the Company will amend its by-laws so
that the Chairman and Vice-Chairman of the Board do not have any powers or rights that the other members of the Board do not currently
have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><B>Duties.</B> During the Employment Term, the Executive shall devote his full business time to the duties to the Company
set forth in this Agreement. The Executive&rsquo;s duties shall include the customary duties of a president and chief operating
officer subject to any limitations set by the Board or the Company&rsquo;s Chief Executive Officer, provided that any new internal
or external agreements entered into during this period by the Executive in his capacity as president or chief operating officer
or as a member of the Board with a value, individually or in the aggregate for a series of related agreements, in excess of $5,000
will need prior approval by Dinar and CIMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
 <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
 <DIV STYLE="page-break-before: always; margin-top: