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SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

Employment Agreement

SECOND AMENDMENT TO
EMPLOYMENT AGREEMENT | Document Parties: CARDTRONICS INC | Cardtronics, LP You are currently viewing:
This Employment Agreement involves

CARDTRONICS INC | Cardtronics, LP

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Title: SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
Date: 1/20/2006

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Exhibit 10.8

SECOND AMENDMENT TO
EMPLOYMENT AGREEMENT

      THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (“ Amendment ”) is entered into by and between Cardtronics, LP, a Delaware limited partnership (the “ Company ”), Cardtronics, Inc., a Delaware corporation (the “ Parent Company ”), and Jack M. Antonini (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 January 20, 2003 (the “ Employment Agreement ”); and

      WHEREAS , the Company and the Employee executed that First Amendment to Employment Agreement dated as of February 4, 2004 (the “First Amendment”) desire to amend further 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. Subparagraph (a) of the definition of the term “Change of Control” in Exhibit A to the Employment Agreement shall be deleted and the following shall be substituted therefore:

(a) prior to the date of an IPO, (i) any transaction or event pursuant to which the CapStreet Investors (formerly the Summit Investors) and TA Associates, Inc. or their respective affiliates cease collectively to own fifty percent (50%) or the Company’s common stock equivalents; and”

     2. Section 2.1 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 (the Employee’s actual period of employment, whether extending through the Stated Term or terminated earlier in accordance with this Agreement, is referred to herein as the “ Employment Term ”).”

     3. Section 3.3(b) of the Employment Agreement shall be deleted and the following shall be substituted therefore:

“(b) Intentionally omitted.”

     4. Section 3.3(c) of the Employment Agreement shall be deleted and the following shall be substituted therefore:

“(c) If the Employee’s employment shall terminate pursuant to Section 3.2(b)(iii) or Section 3.2(c), then the Employee shall be entitled to receive severance pay equal to the Base Salary for the lesser of (A) twelve months or (B) the number of months remaining in the Stated Term and all other compensation, bonuses, benefits and other rights then accrued or vested.”

 


 

     5. 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 base salary of $330,750.00 (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.”

     6. Section 5.2 of th


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