--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 
EXHIBIT 10.2
 
[Hypercom Letterhead]
 
 
Henry Gaillard
[Address on file with Hypercom]
FRANCE
 

 
December 9, 2010

  
Subject:    Your Restricted Stock and Stock Option Awards
 
 
Dear Henry,
 
This letter cancels and replaces the earlier letter on the same subject dated
December 7th 2010 and is to confirm that once you have signed the Separation
Agreement with Hypercom France SARL (“Convention de Rupture - Articles L.1237-11
et suivants du Code du travail”) and all conditions relating to the Separation
Agreement have been met, namely:
 
1.  
the expiration of the applicable revocation period without the Separation
Agreement having been revoked; and

 
2.  
the expiration of the applicable registration period (“Période de Homologation”)
leading to its successful registration,

 
then the unvested portion of the outstanding restricted stock awards (“RSAs”)
granted to you on the dates set forth in the table below shall be immediately
and irrevocably accelerated and made available to you according to the terms of
the applicable Plan within two (2) two business days of the satisfaction of the
above conditions (“Acceleration Date”).
 
Restricted Stock Awards as of December 15, 2010
 
Grant ID
Date of
 Grant
Original Award
Vested
Portion
Unvested Portion
1.
97RS5I
May 17,
 2010
28,000
0
28,000
2.
97RS5
April 15,
 2009
75,000
25,000(1)
50,000
TOTAL
   
103,000
25,000(1)
78,000

1 All 25,000 of these RSA shares were sold by you on 06/14/2010 to cover your
related tax obligations.
 

 
 

--------------------------------------------------------------------------------

 

We also confirm that the unvested portion of the Hypercom stock options
previously granted to you on the dates set forth in the table below and that are
outstanding as of the Acceleration Date shall be immediately cancelled.  The
vested portion of such options shall remain exercisable until the date which is
four months after the Acceleration Date, at which time they will expire if not
exercised.

Stock Option Awards as of December 15, 2010
 
Grant ID
Date of
 Grant
Original Award
Vested
Portion
Unvested Portion
1.
2000E
May 17,
 2010
70,000
0
70,000
2.
1997G
May 15,
 2008
100,000
86,111
13,889
TOTAL
   
170,000
86,111
83,889

You agree to pay to Hypercom or authorize Hypercom to withhold from proceeds all
required taxes applicable to the vesting, exercise or sale of the Hypercom
common stock represented by the above described RSAs and stock options, so that
Hypercom may in turn remit such taxes to the appropriate tax authorities.

Please confirm your agreement by signing in the space provided below for that
purpose.
 
 
Sincerely,

 
/s/ Douglas J. Reich
 

Douglas J. Reich
Senior Vice President & General Counsel
 
 
 
Acknowledged and Agreed:
 
 

/s/ Henry Gaillard               
Henry Gaillard
 
 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------