Exhibit 10.13
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
THIS FIRST
AMENDMENT TO EMPLOYMENT AGREEMENT (“
Amendment ”) is entered into by and between
Cardtronics, LP, a Delaware limited partnership (the “
Company ”), Cardtronics, Inc. (the “
Parent Company ”)and Michael Clinard (the
“ Employee ”) effective as of
January 1, 2005.
WHEREAS ,
the Company and the Employee have heretofore entered into that
certain Employment Agreement dated as of June 4, 2001 (the
“ Employment Agreement ”); and
WHEREAS ,
the Company and the Employee desire to amend the Employment
Agreement in certain respects;
NOW,
THEREFORE , in consideration of the premises set forth above
and the mutual agreements set forth herein, the Company and the
Employee hereby agree, effective as of the date first set forth
above, that the Employment Agreement shall be and is hereby amended
as hereafter provided:
1. Section 3.1
of the Employment Agreement shall be deleted and the following
shall be substituted therefor:
“ 3.1
Employment Term . The term of the Employee’s
employment with the Company shall commence on the Effective Date
and end on January 31, 2008 (the “ Stated
Term ”) unless earlier terminated in accordance with
this Agreement (such period of employment, as it may be earlier
terminated, being referred to herein as the “
Employment Term ”).”
2. The first
sentence of Section 4.1 of the Employment Agreement shall be
deleted and the following shall be substituted therefor:
“From and
after January 1, 2005, the Company shall pay the Employee an
annual gross salary of $220,500.00 (the “ Base
Salary ”), which the Company shall pay to the
Employee in bi-weekly installments in accordance with the
Company’s regular payroll practice for management
employees.”
3. Section 4.3(a)
of the Employment Agreement shall be deleted and the following
shall be substituted therefor:
“During
the Employment Term, the Employee shall be eligible for
participation in and to receive all benefits under welfare benefit
plans, practices, policies and programs of the Company (including
the Company’s existing benefit plans), as may be in effect
from time to time for other similarly situated employees of the
Company, and the Employee shall be entitled to vacations and sick
leave in accordance with the Company’s prevailing policy for
its executives, provided that the Employee’s vacation
entitlement shall be four weeks paid vacation during each one-year
period commencing on the 4 th anniversary date of this
Agreement.”
