Amendment to Letter of Appointment Between Forex International Trading Corp. and Stewart Reich

Summary

Forex International Trading Corp. and Stewart Reich have agreed to amend their previous appointment agreement. Under the new terms, Mr. Reich will receive shares of the company's common stock each year, valued at $12,000 and calculated based on the company's market price with a 25% discount. The shares will be restricted as required by law. This amendment is effective upon Mr. Reich's acceptance, and he will receive 50,000 shares for his first year of service.

EX-10.2 3 ex102.htm EXHIBIT 10.2 Unassociated Document

Exhibit 10.2

FOREX INTERNATIONAL TRADING CORP.

3753 Howard Hughes Parkway

Suite 200, Las Vegas, NV 89169

March 4, 2011

Stewart Reich

Re: Forex International Trading Corp. (the “Company”)

Mr. Reich:

Reference is hereby made to that certain Letter of Appointment between the Company and Stewart Reich. (“Reich”) dated July 29, 2010 (the “Agreement”) relating to the appointment of Reich to the Board of Directors of the Company. As set forth on section 2(a)(i) of the Agreement, the Company was required to issue to Reich on an annual basis at the commencement of each term shares of common stock of the Company equal to $6,000 divided by the Company’s market price discounted by 25%. The parties, by executing below, hereby agree that section 2(a)(i) of the Agreement is hereby amended and restated as follows:

i)	The Company will issue you on an annual basis at the commencement of each term shares of common stock of the Company equal to $12,000 divided by the Company’s market price discounted by 25%. The shares of common stock shall be restricted as required under the Securities Act of 1933.”

We kindly request that you execute this letter below indicating that you agree with the above amendment. Upon execution, we will deliver you 50,000 shares of common stock for your first year of service which is equal to $12,000 divided by $0.24 (75% of $0.32 – the closing price on December 9, 2010, the first day of trading).

	Sincerely,

	Forex International Trading Corp.

	By:
	Name:	Darren Dunckel
	Title:	CEO

AGREED AND ACKNOWLEDGED:

Stewart Reich