Amendment Agreement Between American Rare Earths and Materials Corp. and Henry Waszczuk (Fins and Skins Media)

Summary

This agreement amends the original contract between American Rare Earths and Materials Corp. (AREM) and Henry Waszczuk (Fins and Skins Media and related entities). It confirms that all previous compensation has been fully paid. The amendment sets out new payment terms for 2010–2012, including cash and stock paid in monthly installments, provided all payments are made as scheduled. If AREM fails to pay as agreed, the original October 2007 agreement remains in effect. Henry Waszczuk will also provide a new media plan for 2011 and 2012.

EX-10.26 6 ex1026.htm EXHIBIT 10.26 ex1026.htm

Exhibit 10.26

AMERICAN RARE EARTHS AND MATERIALS. CORP. ("AREM")

(Formerly Element 21 Golf Company)

October 21, 2010

RE: CONTRACT REVISIONS

This letter confirms that AREM and Henry Waszczuk (Fins and Skins Media and related entitles) have amended their original agreement Henry Waszczuk acknowledges that all compensation from previously signed agreements with AREM (formerly Element 21 Golf Company) have been deemed to be fully paid. Amendment to replace original agreement only if all payments listed below are paid as schedule, otherwise the original agreement dated October 2007 will remain in force.

AREM will continue to work with Henry Waszczuk and compensate him as follows:

July 1, 2010 - Dec 31, 2010 - Cash payment of $20,000 plus $40,000 in stock. Cash and stock are to be paid in equal monthly installments for the remainder of 2010.

Jan 1, 2011 - Dec 31. 2011 - Cash payment of $12,000 plus $36,000 in stock. New media plan to be outlined by Henry. Cash and stock are to be paid in equal monthly installments.

Jan 1, 2012 - Dec 31, 2012 - Cash payment of $12,000 plus $36,000 in stock. New media plan to be outlined by Henry. Cash and stock are to be paid in equal monthly installments.



N.Hearn, Ph.D. P.Eng.			Henry Waszczuk
President, CEO			Fins Media Group and related entities