Exhibit 10.13
ADDENDUM TO THE ▇▇▇▇▇▇ SETTLEMENT AGREEMENT OF 7-7-04
The following are amendments to the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Settlement Agreement
with SCHIMATIC Cash Transactions ▇▇▇▇▇▇▇.▇▇▇, Inc. dba Smart Chip Technologies
("Company", "SCTN" or "Employer") dated July 7, 2004.
This Addendum is to be effective as of July 1, 2004.
For the purpose of cleaning up the "financial and stock overhang" of
the Company, as dictated by the Board of Directors, the Company and ▇▇▇▇▇▇
agreed to certain amendments, some of which have since been determined by the
Board to be detrimental to the Company from a tax standpoint. Therefore, in the
best interest of the Company, the following has been agreed to by ▇▇▇▇▇▇ and
approved by the Board:
1. ▇▇▇▇▇▇ will return the Performance Bonus of 3,000,000 shares
granted him as part of the settlement of July 7, 2004.
2. All changes reversed will be treated for accounting purposes
as if they had never occurred.
I HAVE READ THIS AGREEMENT IN ITS ENTIRETY, I UNDERSTAND ITS TERMS, AND AGREE TO
BE BOUND BY ALL OF ITS TERMS. I ALSO UNDERSTAND I HAVE THE RIGHT TO HAVE THIS
AGREEMENT REVIEWED BY INDEPENDENT COUNSEL.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on December
18, 2004.
Employer: Employee:
SCTN ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇. ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇.
▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇ By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇, Chairman & CEO ▇▇▇▇▇▇▇ ▇▇▇▇▇▇