Exhibit 10.1

AMENDMENT (this “Amendment”) dated as of June     , 2011, by and among WireCo WorldGroup (Cayman) Inc., f/k/a Wire Rope Corporation of America, Inc. (the “Company”) and Ira Glazer (the “Executive”) to the EMPLOYMENT TERM SHEET (the “Original Agreement”), dated as of February 8, 2007, by and among the Company and the Executive.

WHEREAS, the parties wish to amend certain terms of the Original Agreement as hereinafter provided.

NOW, THEREFORE, in consideration of the premises, mutual covenants, representations, warranties and agreements hereinafter set forth and set forth in the Original Agreement, the parties hereto, intending to be legally bound, hereby agree as follows:

Section 1. Bonus Plan. The paragraph entitled “Annual Bonus” is hereby amended by deleting the phrase “fiscal 2007” and replacing it with the phrase “fiscal 2011 and beyond”. Exhibit A to the Original Agreement is hereby replaced in its entirety by Exhibit A hereto.

Section 2. Effect. Except as expressly amended hereby, the Original Agreement continues to be, and shall remain, in full force and effect in accordance with its terms with no other modification or waiver and is hereby ratified and confirmed. The provisions set forth in the paragraph of the Original Agreement entitled “Governing Law/Forum of Dispute Resolution” are incorporated by reference as if set forth fully herein.

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IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as of the date first written above.

Exhibit A

CEO Bonus Plan

For Fiscal Year 2011 & Beyond

Purpose:

To structure an incentive plan that aligns the interests of the CEO; the principal shareholders; and the relevant stakeholders of the company toward achieving optimum results for the respective constituents. Objectives (set annually by the Board of Directors; and, consistent with the investment thesis developed by Paine & Partners (f/k/a/ Fox Paine) in its 2006 acquisition of Wire Rope Corporation of America) will consist of: (i) attainment of annual budgeted Adjusted EBITDA results audited annually; (ii) achievement of certain business objectives mutually established by the Board of Directors and the CEO for the respective fiscal year; and, (iii) the Board’s discretionary assessment of the CEO’s leadership impact on the business; on its managers and employees; and, on its future growth.

Structure; measurements; and application:

The bonus plan, exclusively structured for the CEO, is designed to pay a bonus of 1.00% of Adjusted EBITDA for achievement of 100% of the budgeted Adjusted EBITDA; successful completion of the key objectives established for the fiscal year; and, the Board’s judgment that the CEO exhibited the leadership and maintained the ethical standards representative of the business goals and objectives of WireCo WorldGroup (Cayman), Inc. (“WireCo”). If WireCo exceeds budgeted Adjusted EBITDA by 10%, the bonus plan payment has the potential to reach a maximum target of 1.80% of Adjusted EBITDA.

Three factors contribute to the total bonus payout:

Range of bonus potential:

Calculation of Bonus:

The actual calculations for the cash payout to the CEO will be determined by the following:

The sum of these three cash payouts would constitute the CEO’s annual performance-based bonus.

Bonus Calculation Examples:

This bonus calculation example uses the 2011 annual budgeted Adjusted EBITDA as proposed by WireCo management and accepted by the Board of Directors. Subsequent year’s bonus calculations will use the annual budgeted Adjusted EBITDA as proposed by WireCo management and accepted by the Board of Directors.

Bonus Calculation Model:

FY 2011 Budgeted Adjusted EBITDA = $115.899 million