SEC Contract Filing

Filing Date: 2023-08-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea184072ex10-1_cuentasinc.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT, DATED AS OF AUGUST 21, 2023, BY AND BETWEEN CUENTAS INC. AND ARIK MAIMON
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EMPLOYMENT AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>THIS AGREEMENT</B>,
by and between Cuentas, Inc. (the &ldquo;<B>Company</B>&rsquo;) and Arik Maimon (&ldquo;<B>Executive</B>&rdquo;, along with the Company,
referred to as either &ldquo;<B>Party</B>&rdquo; or &ldquo;<B>Parties</B>&rdquo;) shall become effective upon execution by the Parties
as evidenced below (the &ldquo;<B>Effective Date</B>&rdquo;).</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>WHEREAS</B>,
the Company is engaged in the business of credit card processing, mobile commerce in the FinTech space (the &ldquo;<B>Business</B>&rsquo;)
and is a publicly traded on NASDAQ under the <B>CUEN</B> symbol;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>WHEREAS</B>,
Executive is currently employed by the Company in two essential capacities as Executive Chairman (&ldquo;<B>Chairman</B>&rdquo;) of the
Board of Directors (the &ldquo;<B>Board</B>&rdquo;) and as the Chief Executive Officer (&ldquo;<B>CEO</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>WHEREAS</B>,
the Compensation Committee appointed by the Board has reviewed and negotiated the terms and conditions of this Agreement and recommended
that the Board approve the Company entering into this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>WHEREAS</B>,
the Board at a duly notice meeting approved the Agreement and authorized Michael De Prado, President of the Company (the &ldquo;<B>President</B>&rdquo;),
to execute the Agreement on behalf of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>WHEREAS</B>,
Executive and the Company wish to enter into this Agreement setting forth the terms and conditions for Executive&rsquo;s continued employment
by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><B>NOW, THEREFORE</B>,
in consideration of the premises and the mutual covenants and agreements herein contained, the Company and Executive agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">1. <B>Employment.</B>
The Company hereby agrees to employ Executive, and Executive hereby agrees to continue to serve, subject to the provisions of this Agreement,
in his current capacity and Chairmen and CEO. Executive agrees to devote the majority of his business time, attention and energies to
the performance of the duties assigned to him hereunder, and to perform such duties faithfully, diligently and to the best of his abilities
and subject to such laws, rules, regulations and polices, including those regulating NASDAQ listed companies as are from time to time
applicable to the Company and its employees. Executive agrees to refrain from engaging in any activity that does or could reasonably appear
to be in conflict with the best interests of the Company. Executive shall perform the duties customarily associated with the positions
of Chairman and CEO of a NASDAQ listed company, and such other duties and responsibilities as are from time to time assigned to Executive
by the Board consistent with said positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; te