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Exhibit 10.14

NCR   Agreement ref.    TRM 001
                  

RENTAL AGREEMENT
(IT products)

CUSTOMER DETAILS

Name   : TRM (ATM) LIMITED    
Address
 
: Unit 4, Brunel Centre, Newton Road, Crawley, West Sussex RH10 2US
Contact Name
 
 
 
: Telephone:

SUPPLIER

Name   : NCR LIMITED    
Address
 
: 206 Marylebone Road, London NW1 6LY

PRODUCT DETAILS

PRODUCTS to be installed

QUANTITY

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  DESCRIPTION, MODEL NUMBER

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  SERIAL NUMBER

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  PERIODIC
RENTAL CHARGE

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See Schedule of Products attached  
Special terms
 
 
 
   
1.
 
Notwithstanding the date of signature by the Customer of the Delivery
Certificate, the Commencement Date shall be deemed to be 1 April 2002 and Rental
Charges shall be paid by the customer to NCR accordingly.  
2.
 
The Rental Charges during the Minimum Rental Period shall be as follows:
 
 
Amount
 
 
 
No. of payments             1             15

(Continuation sheet(s) attached if applicable)

PRODUCTS to be retained (where Products have been brought forward from an
existing or previous agreement)

QUANTITY

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  DESCRIPTION, MODEL NUMBER

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  SERIAL NUMBER

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  PERIODIC
RENTAL CHARGE

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(Continuation sheet(s) attached if applicable)

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FINANCIAL DETAILS

PERIODIC
RENTAL CHARGE   see Product Details
section on page 1   + VAT   MINIMUM
RENTAL
PERIOD   48   months commencing on the First Payment Date
RENTAL FREQUENCY
 
Quarterly
 
FIRST
RENTAL
 
the part rental charge, calculated pro rata to the periodic Rental Charge, for
the period (if any) from the Commencement Date (see clause 1.1.1) to the First
Payment Date
 
 
(Monthly/Quarterly)
 
 
 
 
 
 
PAYMENT DATES
 
the Commencement Date and thereafter the corresponding date in each succeeding
calendar quarter
FIRST
PAYMENT DATE
 
the Commencement Date
 
 
The Customer requests NCR to let the Products to the Customer under this
Agreement.
NCR agrees to let and the Customer agrees to take on rental the Products on the
terms and conditions of this Agreement.

Signed on behalf of
TRM (ATM) LIMITED
 
Accepted on behalf of
NCR LIMITED ("NCR")
/s/ P. A. Townsley
 
/s/ Roger Bracken

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(Signature)   (Signature)
 
 
VP, NCR, FSD Peter A. Townsley   UK, IRELAND

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(Full Name)         13/08/02    

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(Date) Managing Director

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(Position)    
 
 
206 Marylebone Road 18/7/02   London NW1 6LY

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(Date)    

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TERMS AND CONDITIONS

SECTION 1—SUPPLY TERMS
1.1
 
DELIVERY AND ACCEPTANCE
1.1.1
 
The Customer will accept delivery of the Products from NCR and will sign a
Delivery Certificate, in the form provided by NCR, at the time of delivery or,
if applicable, upon completion of appropriate acceptance procedures.
"Commencement Date" means the date of signature by the Customer of the Delivery
Certificate. Signature of the Delivery Certificate will be conclusive proof that
the Products have been delivered complete and in good condition and are accepted
by the Customer for the purpose of this Agreement.
1.1.2
 
References to "Products" shall mean, as the context allows or requires, all or
any of the items listed in the Product Details section above. The Products may
comprise tangible items of equipment ("Equipment") and/or machine software
("Software") and shall include any related manuals, service records and other
documentation.
1.2
 
SELECTION OF PRODUCTS, WARRANTIES
1.2.1
 
The Customer agrees that it has used its own skill and judgement in selecting
the Products and deciding upon their suitability for its purpose. NCR makes no
representation or warranty as to whether the Products are of satisfactory
quality or as to their description, performance or fitness for any purpose
(whether disclosed to NCR or not) and any condition or warranty which may be
implied by law is expressly excluded. The Customer represents that it will use
the Products in the course of a business and agrees that it is reasonable for
NCR to exclude liability under this clause 1.2.1 and clause 2.6.
1.2.2
 
The Customer agrees that it does not rely on any oral or written statements or
representations on the part of NCR except any written statements or
representations incorporated in or referred to in this Agreement.
SECTION 2—RENTAL TERMS
2.1
 
DURATION
2.1.1
 
The renting of the Products commences on the Commencement Date and, unless
terminated in accordance with clause 2.4 or 2.5.4, continues until terminated by
the Customer in accordance with clause 2.1.2 or by NCR in accordance with
clause 2.7.
2.1.2
 
The Customer may terminate the renting of the Products by giving NCR 6 months'
notice to expire on the last day of the Minimum Rental Period or on the day
prior to any subsequent Payment Date. The Minimum Rental Period and Payment
Dates are specified in the Financial Details section above.
2.2
 
RENTAL CHARGES AND PAYMENT
2.2.1
 
Rent for the Products will be charged from the Commencement Date. The Customer
will pay to NCR, on the First Payment Date, the First Rental (if any) together
with the first periodic Rental Charge. Thereafter the Customer will pay the
periodic Rental Charge in advance on each successive Payment Date until
termination. Upon expiry of the Minimum Rental Period or any renewal period,
Rental Charges shall continue at the then applicable rate unless renegotiated at
the Customer's request.
2.2.2
 
All payments due under this Agreement will be subject to value added tax at the
rate prevailing from time to time. NCR will issue periodic invoices for value
added tax purposes.
2.2.3
 
The Customer will pay Rental Charges to NCR by standing order or direct debit
without prior demand and in sufficient time so as to be received in cleared
funds by the due date. Time of payment of all sums falling due is of the essence
of this Agreement.
 
 
 

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2.2.4
 
The Customer agrees to make all payments without deduction or set-off even if
the Products are not fully operational or if the Customer has any outstanding
claim or allegation against NCR. If any deduction or withholding is required by
law, that payment will be increased so that the amount received by NCR equals
the amount it would have received in the absence of such requirement.
2.2.5
 
NCR may charge interest on overdue payments from the due date to the date of
actual payment at the rate of 4% per annum over Barclays Bank base rate for the
time being, compounded quarterly.
2.3
 
USE OF PRODUCTS
2.3.1
 
NCR shall allow the Customer quiet possession and use of the Products until
termination, provided that it performs all of its obligations under this
Agreement.
2.3.2
 
The Customer will keep the Products at the Customer's Site(s) specified in the
Delivery Certificate and will ensure that they comply and are used in compliance
with all applicable regulations and statutes. The Customer will allow NCR to
inspect the Equipment by arrangement upon reasonable notice and, if required by
NCR, will allow NCR to attach identification labels.
2.3.3
 
The Customer will at its own expense keep the Equipment complete, in good
condition (fair wear and tear excepted) and in good working order. The Customer
will be responsible for obtaining all permits required, and for the payment of
all taxes, registration charges or other outlays applicable to the use or
operation of the Equipment. If the Equipment is of a type which is customarily
covered by a maintenance contract, then the Customer shall enter into an
appropriate maintenance contract with the Supplier or some other competent and
reputable maintainer.
2.3.4
 
The Customer agrees that it will not acquire any right, title or interest in the
Products except as set out in this Agreement and will not take or permit any
action which may prejudice the rights of NCR. In particular, the Customer will
not sub-let or offer or agree to sell the Products nor permit any charge or lien
to arise over them. The Customer may not assign its rights or obligations under
this Agreement without the written consent of NCR.
2.3.5
 
Except as provided below, all additions, improvements and replacements to or of
the Equipment will belong to NCR and will be re-delivered to NCR upon
termination. The Customer may retain any accessories or ancillary items fitted
to or in the Equipment (which are not subject to this Agreement or any other
agreement between the Customer and NCR) provided that the removal of such items
does not cause any damage or disfigurement and does not cause the operational
capability of the Products to be less than when they were originally supplied
under this Agreement.
2.3.6
 
Upon termination of the renting of the Products, however arising, the Customer
will re-deliver the Products, at its own expense, to such destination in the
mainland UK as NCR shall direct and in accordance with the conditions in clauses
2.3.6.1 to 2.3.6.3.
2.3.6.1
 
The Products shall be complete (including any power cables, data cables, power
adapters, security keys or other devices with which they were originally
supplied), in good condition (fair wear and tear excepted), in good working
order and generally in the same state of readiness for use as when originally
supplied.
2.3.6.2
 
The Products shall be properly packaged and crated and re-delivered in a single
shipment or, if there are two or more Customer Sites, in a single shipment from
each site.
 
 
 

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2.3.6.3
 
If the Equipment has been, or is of a type which customarily is, covered by a
maintenance contract, the Customer shall on or before re-delivery provide a
letter of confirmation from the Supplier or from a competent and reputable
maintainer of equipment of the same type as the Equipment certifying that the
Equipment is in good working order and that it is eligible to be the subject of
a maintenance contract on standard terms (for equipment of the same age) with
such party.
2.3.7
 
If the Customer fails to re-deliver any Products in accordance with
clause 2.3.6, the Customer shall be liable to NCR for the costs of recovering
the Products, of restoring them to the condition required by clause 2.3.6 and of
replacing any missing parts and accessories. If any Products are not
re-delivered within 7 days of the date on which they are due to be re-delivered
(which, subject to any deferral provided below, shall be the date of termination
of the renting of the Products), then unless the Customer has given notice to
NCR of a total loss and paid the sum due under clause 2.5.4, the date for
re-delivery of such Products shall be deferred to the next following Payment
Date and the Customer shall pay to NCR, as compensation for deferral of
re-delivery, an amount equal to the Rental Charge which would have been
applicable for such period at the rate applicable preceding termination.
2.4
 
THIS CLAUSE INTENTIONALLY OMITTED
2.5
 
INSURANCE OF PRODUCTS AND RISK
2.5.1
 
All risks of loss of or damage to the Products will pass to the Customer at the
time of delivery to the Customer.
2.5.2
 
The Customer will, at its own expense, maintain with a reputable insurer, as
from the date of delivery until the date on which the Products are re-delivered
to or recovered by NCR, insurance cover against: (i) loss or damage for an
amount not less than the replacement value of the Products or, if greater, 120%
of the Rental Charges remaining to be paid during the Minimum Rental Period; and
(ii) third party risks. If required by NCR, the insurance policy will record
NCR's interest in the Products and will name NCR as loss payee.
2.5.3
 
If any Products are damaged, the Customer will, at its own cost, repair the
damaged items or replace them with similar items of equal value and no less
operational capability and the Customer will cause title to any replacement
items to vest in NCR. Provided such repairs or replacements have been carried
out, any insurance proceeds received by NCR will be paid to the Customer as a
rebate of Rental Charges.
2.5.4
 
If NCR is notified that any Products have been lost, confiscated, stolen or
damaged beyond economic repair, the renting of those Products ("Lost Products")
will immediately terminate. Unless NCR has agreed in writing to accept
replacement items, the Customer will forthwith on demand pay to NCR, in respect
of the Lost Products, the amount calculated in accordance with clause 2.7.2.2.
Following receipt by NCR of that amount, any insurance proceeds received by NCR
will be paid to the Customer as a rebate of Rental Charges.
2.6
 
LIABILITY OF NCR AND CUSTOMER
 
 
The Customer agrees that NCR shall have no liability (except in relation to
death or personal injury caused by negligence on the part of NCR) for any loss
or damage caused directly or indirectly by the Products or arising out of the
hiring, possession, use or operation of the Products. The Customer indemnifies
NCR against all losses, liabilities, costs, claims, expenses and demands
suffered or incurred by NCR as a consequence of claims made against NCR by any
other party in relation to or arising out of the hiring, possession, use or
operation of the Products.
 
 
 

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2.7
 
DEFAULT AND TERMINATION
2.7.1
 
If any of the events listed below should occur, it will constitute a repudiation
by the Customer of this Agreement and at any time thereafter NCR may, by giving
notice to the Customer, accept that repudiation and declare the renting of the
Products terminated. The events are:
2.7.1.1
 
the Customer failing to pay in full within 7 days of its due date any payment
required by this Agreement;
2.7.1.2
 
the Customer being in material breach of any other obligation under this
Agreement or any other agreement between the Customer and NCR, and failing to
remedy that breach within 7 days of being required to do so;
2.7.1.3
 
the appointment or the presentation of a petition for the appointment of a
liquidator, receiver, administrator or administrative receiver over any part of
the Customer's business or assets;
2.7.1.4
 
the Customer ceasing to trade or being declared insolvent or being unable to pay
its debts as they fall due;
2.7.1.5
 
the Customer ceasing to be a subsidiary (within the meaning of s.736 of the
Companies Act 1985) of the company which, at the date of NCR's acceptance of
this Agreement, was its ultimate holding company.
2.7.2
 
Upon termination under clause 2.7.1:
2.7.2.1
 
the Customer will no longer be in possession of the Products with NCR's consent
and, if the Customer has not re-delivered the Products in accordance with
clause 2.3.6, NCR or its agent may enter the Customer's Site without further
permission and take possession of the Products; and
2.7.2.2
 
the Customer will immediately pay to NCR, as an agreed pre-estimate of the loss
that would be suffered by NCR as a consequence of termination, an amount equal
to the aggregate of all Rental Charges then due but unpaid together with
interest due under clause 2.2.5; plus all costs incurred by NCR in enforcing or
seeking to enforce this Agreement and in locating and recovering the Products;
plus the sum of all further Rental Charges which, but for termination, would
have fallen due during the Minimum Rental Period, each discounted at 3% per
annum for accelerated payment; plus all other sums due under this Agreement.
2.8
 
OWNERSHIP AND ASSIGNMENT
2.8.1
 
NCR may at any time assign the benefit of this Agreement or the right to receive
payment of Rental Charges and other sums payable under this Agreement to another
party. In that event, the Customer will owe to NCR's assignee all obligations
and liabilities to be performed or discharged by the Customer under this
Agreement as if that assignee was named in this Agreement in place of NCR. Any
such assignment shall not affect NCR's obligations to the Customer. The Customer
agrees that it will not claim or exercise against NCR's assignee any right of
defence, set off or counterclaim in respect of any actual or alleged failure by
NCR to perform such obligations.
2.8.2
 
Either NCR or NCR's assignee may give notice of any assignment to the Customer.
The Customer agrees to comply with all directions given in such notice as to the
performance of this Agreement or as otherwise directed by NCR's assignee
provided that any such directions shall not impose any greater burden or
liability on the Customer.
SECTION 3—GENERAL PROVISIONS
3.1
 
This Agreement will not be binding until it has been signed on behalf of each of
the parties. Each party confirms that it has taken all action necessary to
authorise the execution of and the performance of its obligations under this
Agreement.
 
 
 

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3.2
 
The Customer represents and warrants that there has been no material adverse
change in its financial position since the date to which its last audited
accounts are made up. The Customer undertakes, whilst this Agreement continues,
that it will provide NCR with a copy of its latest audited accounts promptly
upon the same becoming available together with any other information concerning
the Customer that NCR may reasonably require.
3.3
 
All notices to be given under this Agreement will be in writing addressed to the
relevant party at its address shown in this Agreement or at its registered
office. Notices may be sent by hand or by pre-paid mail. Notices sent by
facsimile will be of no effect unless confirmed by pre-paid mail.
3.4
 
The parties acknowledge and confirm that this Agreement, together with the
Delivery Certificate(s), is the entire agreement between them relating to the
renting of the Products. Any modification of or addition to this Agreement must
be in writing which refers to this Agreement and must be signed on behalf of the
Customer and NCR.
3.5
 
Any failure of NCR to exercise in whole or in part its rights under this
Agreement will not constitute a waiver of those rights.
3.6
 
Where the context allows, the provisions of this Agreement will continue to
apply following expiry or termination of the renting of the Products. If any
provision is held to be invalid, illegal or unenforceable in any respect, all
other provisions will remain intact.
3.7
 
This Agreement is governed by the law of England and the parties agree that the
English courts will have non-exclusive jurisdiction.

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QuickLinks

Exhibit 10.14

RENTAL AGREEMENT (IT products)
TERMS AND CONDITIONS