Exhibit 10.3





Exhibit 10.3




GLOBAL CASH ACCESS HOLDINGS, INC. 2005 STOCK INCENTIVE PLAN

NOTICE OF STOCK OPTION AWARD




You (the “Grantee”) have been granted an option to purchase shares of Common Stock, subject to
the terms and conditions of this Notice of Stock Option Award (the “Notice”), the Global Cash
Access Holdings, Inc. 2005 Stock Incentive Plan, as amended from time to time (the “Plan”) and the
Stock Option Award Agreement (the “Option Agreement”) attached hereto, as follows. Unless otherwise
defined herein, the terms defined in the Plan shall have the same defined meanings in this Notice.




Post-Termination Exercise Period: Three (3) Months




Vesting Schedule:



Subject to the Grantee’s Continuous Service and other limitations set forth in this Notice,
the Plan and the Option Agreement, the Option may be exercised, in whole or in part, in accordance
with the following schedule:



One-eighth (1/8) of the Shares subject to the Option shall vest on the six (6) month
anniversary of the Vesting Commencement Date, and
1/48 of the number of Shares subject to
the Option shall vest on each monthly anniversary of the Vesting Commencement Date thereafter.



During any authorized leave of absence, the vesting of the Option as provided in this schedule
shall be suspended after the leave of absence exceeds a period of ninety (90) days. Vesting of the
Option shall resume upon the Grantee’s termination of the leave of absence and return to service to
the Company or a Related Entity. The Vesting Schedule of the Option shall be extended by the length
of the suspension.



In the event of a Corporate Transaction or a Change in Control (as defined in the Plan), all
of the Shares subject to the Option shall become vested and exercisable immediately prior to the
consummation of such Corporate Transaction or Change in Control, provided that the Grantee’s
Continuous Service has not terminated prior to the consummation of such Corporate Transaction or
Change in Control.



Effect of Acceleration on Incentive Stock Option. To the extent that the Option is an Incentive
Stock Option and is accelerated in connection with a Corporate Transaction or Change in Control,
the Option shall remain exercisable as an Incentive Stock Option under the Code only to the extent
the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded.



THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE SHARES SUBJECT TO THE OPTION SHALL VEST, IF AT ALL,
ONLY DURING THE PERIOD OF THE GRANTEE’S CONTINUOUS SERVICE (NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER ACKNOWLEDGES AND
AGREES THAT NOTHING IN THIS NOTICE, THE OPTION AGREEMENT, OR THE PLAN SHALL CONFER UPON THE GRANTEE
ANY RIGHT WITH RESPECT TO FUTURE AWARDS OR CONTINUATION OF THE GRANTEE’S CONTINUOUS SERVICE, NOR
SHALL IT INTERFERE IN ANY WAY WITH THE GRANTEE’S RIGHT OR THE RIGHT OF THE COMPANY OR RELATED
ENTITY TO WHICH THE GRANTEE PROVIDES SERVICES TO TERMINATE THE GRANTEE’S CONTINUOUS SERVICE, WITH
OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT UNLESS THE GRANTEE HAS
A WRITTEN EMPLOYMENT AGREEMENT WITH THE COMPANY TO THE CONTRARY, THE GRANTEE’S STATUS IS AT WILL.



The Grantee acknowledges receipt of a copy of the Plan and the Option Agreement, and
represents that he or she is familiar with the terms and provisions thereof, and hereby accepts the
Option subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this
Notice, the Plan, and the Option Agreement in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Notice, and fully understands all provisions of this
Notice, the Plan and the Option Agreement. The Grantee hereby agrees that all questions of
interpretation and administration relating to this Notice, the Plan and the Option Agreement shall
be resolved by the Administrator in accordance with Section 18 of the Option Agreement. The Grantee
further agrees to the venue
selection and waiver of a jury trial in accordance with Section 19 of the Option Agreement.
The Grantee further agrees to notify the Company upon any change in the residence address indicated
in this Notice.


 


 









 





GLOBAL CASH ACCESS HOLDINGS, INC. 2005 STOCK INCENTIVE PLAN

STOCK OPTION AWARD AGREEMENT




1. Grant of Option. Global Cash Access Holdings, Inc., a Delaware corporation (the “Company”),
hereby grants to the Grantee (the “Grantee”) named in the Notice of Stock Option Award (the
“Notice”), an option (the “Option”) to purchase the Total Number of Shares of Common Stock subject
to the Option (the “Shares”) set forth in the Notice, at the Exercise Price per Share set forth in
the Notice (the “Exercise Price”) subject to the terms and provisions of the Notice, this Stock
Option Award Agreement (the “Option Agreement”) and the Company’s 2005 Stock Incentive Plan, as
amended from time to time (the “Plan”), which are incorporated herein by reference. Unless
otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in
this Option Agreement.



If designated in the Notice as an Incentive Stock Option, the Option is intended to qualify as
an Incentive Stock Option as defined in Section 422 of the Code. However, notwithstanding such
designation, the Option will qualify as an Incentive Stock Option under the Code only to the extent
the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. The $100,000
limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of
the Shares subject to options designated as Incentive Stock Options which become exercisable for
the first time by the Grantee during any calendar year (under all plans of the Company or any
Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Stock Options
shall be taken into account in the order in which they were granted, and the Fair Market Value of
the shares subject to such options shall be determined as of the grant date of the relevant option.




2. Exercise of Option.



(a) Right to Exercise. The Option shall be exercisable during its term in accordance with the
Vesting Schedule set out in the Notice and with the applicable provisions of the Plan and this
Option Agreement. The Option shall be subject to the provisions of Section 11 of the Plan relating
to the exercisability or termination of the Option in the event of a Corporate Transaction or
Change in Control. The Grantee shall be subject to reasonable limitations on the number of
requested exercises during any monthly or weekly period as determined by the Administrator. In no
event shall the Company issue fractional Shares.



(b) Method of Exercise. The Option shall be exercisable by delivery of an exercise notice (a
form of which is attached as Exhibit A) or by such other procedure as specified from time to time
by the Administrator which shall state the election to exercise the Option, the whole number of
Shares in respect of which the Option is being exercised, and such other provisions as may be
required by the Administrator. The exercise notice shall be delivered in person, by certified mail,
or by such other method (including electronic transmission) as determined from time to time by the
Administrator to the Company accompanied by payment of the Exercise Price. The Option shall be
deemed to be exercised upon receipt by the Company of such notice accompanied by the Exercise
Price, which, to the extent selected, shall be deemed to
be satisfied by use of the broker-dealer sale and remittance procedure to pay the Exercise
Price provided in Section 4(d), below.


 


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(c) Taxes. No Shares will be delivered to the Grantee or other person pursuant to the exercise
of the Option until the Grantee or other person has made arrangements acceptable to the
Administrator for the satisfaction of applicable income tax and employment tax withholding
obligations, including, without limitation, such other tax obligations of the Grantee incident to
the receipt of Shares. Upon exercise of the Option, the Company or the Grantee’s employer may
offset or withhold (from any amount owed by the Company or the Grantee’s employer to the Grantee)
or collect from the Grantee or other person an amount sufficient to satisfy such tax withholding
obligations.



3. Grantee’s Representations. In the event the Shares purchasable pursuant to the exercise of
the Option have not been registered under the Securities Act of 1933, as amended, at the time the
Option is exercised, the Grantee shall, if requested by the Company, concurrently with the exercise
of all or any portion of the Option, deliver to the Company his or her investor representation
statement in a form determined by the Company.



4. Method of Payment. Payment of the Exercise Price shall be made by any of the following, or
a combination thereof, at the election of the Grantee; provided, however, that such exercise method
does not then violate any Applicable Law, provided further, that the portion of the Exercise Price
equal to the par value of the Shares must be paid in cash or other legal consideration permitted by
the Delaware General Corporation Law:




(a) cash;




(b) check;



(c) if the exercise occurs on or after the Registration Date, surrender of Shares or delivery
of a properly executed form of attestation of ownership of Shares as the Administrator may require
which have a Fair Market Value on the date of surrender or attestation equal to the aggregate
Exercise Price of the Shares as to which the Option is being exercised, provided, however, that
Shares acquired under the Plan or any other equity compensation plan or agreement of the Company
must have been held by the Grantee for a period of more than six (6) months (and not used for
another Award exercise by attestation during such period); or



(d) if the exercise occurs on or after the Registration Date, payment through a broker-dealer
sale and remittance procedure pursuant to which the Grantee (i) shall provide written instructions
to a Company-designated brokerage firm to effect the immediate sale of some or all of the purchased
Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for
the purchased Shares and (ii) shall provide written directives to the Company to deliver the
certificates for the purchased Shares directly to such brokerage firm in order to complete the sale
transaction.



5. Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service
terminates, other than for Cause, the Grantee may, but only during the Post-



Termination Exercise Period, exercise the portion of the Option that was vested at the date of
such termination (the “Termination Date”); provided, however, that in the event such termination of
Continuous Service, other than for Cause, occurs after the Grantee has both (a) attained age fifty
(50), and (b) completed ten (10) years of Continuous Service (such combination of age and
Continuous Service, “Retirement Eligibility”), the portion of the Option that was vested on the
Termination Date shall remain exercisable until the Expiration Date. The Post-Termination Exercise
Period shall commence on the Termination Date. In the event of termination of the Grantee’s
Continuous Service for Cause, the Grantee’s right to exercise the Option shall, except as otherwise
determined by the Administrator, terminate concurrently with the termination of the Grantee’s
Continuous Service (also the “Termination Date”). In no event, however, shall the Option be
exercised later than the Expiration Date set forth in the Notice. In the event of the Grantee’s
change in status from Employee, Director or Consultant to any other status of Employee, Director or
Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance
with the Vesting Schedule set forth in the Notice; provided, however, with respect to any Incentive
Stock Option that shall remain in effect after a change in status from Employee to Director or
Consultant, such Incentive
Stock Option shall cease to be treated as an Incentive Stock Option and shall be treated as a
Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in
status. Except as otherwise provided in this Section 5 or in Section 6 or 7 below, to the extent
that the Option was unvested on the Termination Date, or if the Grantee does not exercise the
vested portion of the Option within the time specified herein, the Option shall terminate.


 


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6. Disability of Grantee. In the event the Grantee’s Continuous Service terminates as a result of
his or her Disability, the Grantee may, but only within twelve (12) months commencing on the
Termination Date (but in no event later than the Expiration Date), exercise the portion of the
Option that was vested on the Termination Date; provided, however, that if such Disability is not a
“disability” as such term is defined in Section 22(e)(3) of the Code and the Option is an Incentive
Stock Option, such Incentive Stock Option shall cease to be treated as an Incentive Stock Option
and shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day
following the Termination Date; and provided further, that in the event that the Grantee’s
Continuous Service terminates as a result of his or her Disability after the Grantee achieves
Retirement Eligibility, the portion of the Option that was vested on the Termination Date shall
remain exercisable until the Expiration Date. To the extent that the Option was unvested on the
Termination Date, or if the Grantee does not exercise the vested portion of the Option within the
time specified herein, the Option shall terminate. Section 22(e)(3) of the Code provides that an
individual is permanently and totally disabled if he or she is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or which has lasted or can be expected to last for a continuous period
of not less than twelve (12) months.



7. Death of Grantee. In the event of the termination of the Grantee’s Continuous Service as a
result of his or her death, or in the event of the Grantee’s death during the Post-Termination
Exercise Period or during the twelve (12) month period following the Grantee’s termination of
Continuous Service as a result of his or her Disability, the person who acquired the right to
exercise the Option pursuant to Section 8 may exercise the
portion of the Option that was vested on the Termination Date within twelve (12) months commencing on the date of death (but
in no event later than the Expiration Date); provided, however, that in the event that the
Grantee’s Continuous Service terminates as a result of his or her death after the Grantee achieves
Retirement Eligibility, the portion of the Option that was vested on the Termination Date shall
remain exercisable until the Expiration Date. To the extent that the Option was unvested on the
date of death, or if the vested portion of the Option is not exercised within the time specified
herein, the Option shall terminate.



8. Transferability of Option. The Option, if an Incentive Stock Option, may not be transferred
in any manner other than by will or by the laws of descent and distribution and may be exercised
during the lifetime of the Grantee only by the Grantee. The Option, if a Non-Qualified Stock
Option, may not be transferred in any manner other than by will or by the laws of descent and
distribution, provided, however, that a Non-Qualified Stock Option may be transferred during the
lifetime of the Grantee to the extent and in the manner authorized by the Administrator.
Notwithstanding the foregoing, the Grantee may designate one or more beneficiaries of the Grantee’s
Incentive Stock Option or Non-Qualified Stock Option in the event of the Grantee’s death on a
beneficiary designation form provided by the Administrator. Following the death of the Grantee, the
Option, to the extent provided in Section 7, may be exercised (a) by the person or persons
designated under the deceased Grantee’s beneficiary designation or (b) in the absence of an
effectively designated beneficiary, by the Grantee’s legal representative or by any person
empowered to do so under the deceased Grantee’s will or under the then applicable laws of descent
and distribution. The terms of the Option shall be binding upon the executors, administrators,
heirs, successors and transferees of the Grantee.



9. Term of Option. The Option must be exercised no later than the Expiration Date set forth in
the Notice or such earlier date as otherwise provided herein. After the Expiration Date or such
earlier date, the Option shall be of no further force or effect and may not be exercised.




10. [Intentionally Omitted].



11. [Intentionally Omitted].


 


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12. Stop-Transfer Notices. In order to ensure compliance with the restrictions on transfer set
forth in this Option Agreement, the Notice or the Plan, the Company may issue appropriate “stop
transfer” instructions to its transfer agent, if any, and, if the Company transfers its own
securities, it may make appropriate notations to the same effect in its own records.



13. Refusal to Transfer. The Company shall not be required (i) to transfer on its books any
Shares that have been sold or otherwise transferred in violation of any of the provisions of this
Option Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay
dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.



14. Tax Consequences. Set forth below is a brief summary as of the date of this Option
Agreement of some of the federal tax consequences of exercise of the Option and disposition of the
Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE GRANTEE SHOULD CONSULT A TAX ADVISER
BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.



(a) Exercise of Incentive Stock Option. If the Option qualifies as an Incentive Stock Option,
there will be no regular federal income tax liability upon the exercise of the Option, although the
excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise
Price will be treated as income for purposes of the alternative minimum tax for federal tax
purposes and may subject the Grantee to the alternative minimum tax in the year of exercise.



(b) Exercise of Incentive Stock Option Following Disability. If the Grantee’s Continuous
Service terminates as a result of Disability that is not permanent and total disability as such
term is defined in Section 22(e)(3) of the Code, to the extent permitted on the date of
termination, the Grantee must exercise an Incentive Stock Option within three (3) months of such
termination for the Incentive Stock Option to be qualified as an Incentive Stock Option. Section
22(e)(3) of the Code provides that an individual is permanently and totally disabled if he or she
is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted or can
be expected to last for a continuous period of not less than twelve (12) months.



(c) Exercise of Non-Qualified Stock Option. On exercise of a Non-Qualified Stock Option, the
Grantee will be treated as having received compensation income (taxable at ordinary income tax
rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise
over the Exercise Price. If the Grantee is an Employee or a former Employee, the Company will be
required to withhold from the Grantee’s compensation or collect from the Grantee and pay to the
applicable taxing authorities an amount in cash equal to a percentage of this compensation income
at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such
withholding amounts are not delivered at the time of exercise.



(d) Disposition of Shares. In the case of a Non-Qualified Stock Option, if Shares are held for
more than one year, any gain realized on disposition of the Shares will be treated as long-term
capital gain for federal income tax purposes. In the case of an Incentive Stock Option, if Shares
transferred pursuant to the Option are held for more than one year after receipt of the Shares and
are disposed more than two years after the Date of Award, any gain realized on disposition of the
Shares also will be treated as capital gain for federal income tax purposes and subject to the same
tax rates and holding periods that apply to Shares acquired upon exercise of a Non-Qualified Stock
Option. If Shares purchased under an Incentive Stock Option are disposed of prior to the expiration
of such one-year or two-year periods, any gain realized on such disposition will be treated as
compensation income (taxable at ordinary income rates) to the extent of the difference between the
Exercise Price and the lesser of (i) the Fair Market Value of the Shares on the date of exercise,
or (ii) the sale price of the Shares.


 


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15. Lock-Up Agreement.



(a) Agreement. The Grantee, if requested by the Company and the lead underwriter of any public
offering of the Common Stock (the “Lead Underwriter”), hereby irrevocably agrees not to sell,
contract to sell, grant any option to purchase, transfer the economic risk of ownership in, make
any short sale of, pledge or otherwise transfer or dispose of any interest in any Common Stock or
any securities convertible into or exchangeable or exercisable for or any other rights to purchase
or acquire Common Stock (except Common Stock included in such public offering or acquired on the
public market after such offering) during the 200-day period following the effective date of a
registration statement of the Company filed under the Securities Act of 1933, as amended, or such
shorter or longer period of time as the Lead Underwriter shall specify. The Grantee further agrees
to sign such documents as may be requested by the Lead Underwriter to effect the foregoing and
agrees that the Company may impose stop-transfer instructions with respect to such Common Stock
subject to the lock-up period until the end of such period. The Company and the Grantee acknowledge
that each Lead Underwriter of a public offering of the Company’s stock, during the period of such
offering and for the lock-up period thereafter, is an intended beneficiary of this Section 15.



(b) No Amendment Without Consent of Underwriter. During the period from identification of a
Lead Underwriter in connection with any public offering of the Company’s Common Stock until the
earlier of (i) the expiration of the lock-up period specified in Section 15(a) in connection with
such offering or (ii) the abandonment of such offering by the Company and the Lead Underwriter, the
provisions of this Section 15 may not be amended or waived except with the consent of the Lead
Underwriter.



16. Entire Agreement: Governing Law. The Notice, the Plan and this Option Agreement constitute
the entire agreement of the parties with respect to the subject matter hereof and supersede in
their entirety all prior undertakings and agreements of the Company and the Grantee with respect to
the subject matter hereof, and may not be modified adversely to the Grantee’s interest except by
means of a writing signed by the Company and the Grantee. Nothing in the Notice, the Plan and this
Option Agreement (except as expressly provided therein) is intended to confer any rights or
remedies on any persons other than the parties. The Notice, the Plan and this Option Agreement are
to be construed in accordance with and governed by the internal laws of the State of Nevada without
giving effect to any choice of law rule that would cause the application of the laws of any
jurisdiction other than the internal laws of the State of Nevada to the rights and duties of the
parties. Should any provision of the Notice, the Plan or this Option Agreement be determined to be
illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and
the other provisions shall nevertheless remain effective and shall remain enforceable.



17. Construction. The captions used in the Notice and this Option Agreement are inserted for
convenience and shall not be deemed a part of the Option for construction or interpretation. Except
when otherwise indicated by the context, the singular shall include the plural and the plural shall
include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.


 


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18. Administration and Interpretation. Any question or dispute regarding the administration or
interpretation of the Notice, the Plan or this Option Agreement shall be
submitted by the Grantee or by the Company to the Administrator. The resolution of such
question or dispute by the Administrator shall be final and binding on all persons.



19. Venue and Waiver of Jury Trial. The Company, the Grantee, and the Grantee’s assignees
pursuant to Section 8 (the “parties”) agree that any suit, action, or proceeding arising out of or
relating to the Notice, the Plan or this Option Agreement shall be brought in the United States
District Court for the District of Nevada (or should such court lack jurisdiction to hear such
action, suit or proceeding, in a Nevada state court in the County of Clark) and that the parties
shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest
extent permitted by law, any objection the party may have to the laying of venue for any such suit,
action or proceeding brought in such court. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR
MAY HAVE TO A JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions of
this Section 19 shall for any reason be held invalid or unenforceable, it is the specific intent of
the parties that such provisions shall be modified to the minimum extent necessary to make it or
its application valid and enforceable.



20. Notices. Any notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon personal delivery, upon deposit for delivery by an internationally
recognized express mail courier service or upon deposit in the United States mail by certified mail
(if the parties are within the United States), with postage and fees prepaid, addressed to the
other party at its address as shown in these instruments, or to such other address as such party
may designate in writing from time to time to the other party.



END OF AGREEMENT




 


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EXHIBIT A




GLOBAL CASH ACCESS HOLDINGS, INC. 2005 STOCK INCENTIVE PLAN

EXERCISE NOTICE




                    

Attention: Secretary



1. Effective as of today,                     , the undersigned (the “Grantee”) hereby elects to
exercise the Grantee’s option to purchase                      shares of the Common Stock (the “Shares”) of
Global Cash Access Holdings, Inc. (the “Company”) under and pursuant to the Company’s 2005 Stock
Incentive Plan, as amended from time to time (the “Plan”) and the Incentive Stock Option Award
Agreement (the “Option Agreement”) and Notice of Stock Option Award (the “Notice”) dated                    .
Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings
in this Exercise Notice.



2. Representations of the Grantee. The Grantee acknowledges that the Grantee has received,
read and understood the Notice, the Plan and the Option Agreement and agrees to abide by and be
bound by their terms and conditions.



3. Rights as Stockholder. Until the stock certificate evidencing such Shares is issued (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), no right to vote or receive dividends or any other rights as a stockholder
shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company
shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised.
No adjustment will be made for a dividend or other right for which the record date is prior to the
date the stock certificate is issued, except as provided in Section 10 of the Plan.



The Grantee shall enjoy rights as a stockholder until such time as the Grantee disposes of the
Shares or the Company and/or its assignee(s) exercises the Right of First Refusal or the Repurchase
Right. Upon such exercise, the Grantee shall have no further rights as a holder of the Shares so
purchased except the right to receive payment for the Shares so purchased in accordance with the
provisions of the Option Agreement, and the Grantee shall forthwith cause the certificate(s)
evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation.



4. Delivery of Payment. The Grantee herewith delivers to the Company the full Exercise Price
for the Shares, which, to the extent selected, shall be deemed to be satisfied by use of the
broker-dealer sale and remittance procedure to pay the Exercise Price provided in Section 4(d) of
the Option Agreement.



5. Tax Consultation. The Grantee understands that the Grantee may suffer adverse tax
consequences as a result of the Grantee’s purchase or disposition of the Shares. The Grantee
represents that the Grantee has consulted with any tax consultants the Grantee deems advisable in
connection with the purchase or disposition of the Shares and that the Grantee is not relying on
the Company for any tax advice.



6. Taxes. The Grantee agrees to satisfy all applicable federal, state and local income and
employment tax withholding obligations and herewith delivers to the Company the full amount of such
obligations or has made arrangements acceptable to the Company to satisfy such obligations. In the
case of an Incentive Stock Option, the Grantee also agrees, as partial consideration for the
designation of the Option as an Incentive Stock Option, to notify the Company in writing within
thirty (30) days of any disposition of any shares acquired by exercise of the Option if such
disposition occurs within two (2) years from the Date of Award or within one (1) year from the date
the Shares were transferred to the Grantee.



7. Restrictive Legends. To the extent the Option or any of the Shares have not been registered
under the Securities Act of 1933, as amended, the Grantee understands and agrees that the Company
shall cause the legends set forth below or legends substantially equivalent thereto, to be placed
upon any certificate(s) evidencing ownership of the Shares together with any other legends that may
be required by the Company or by state or federal securities laws:


 


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THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
“ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED
OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR
HYPOTHECATION IS IN COMPLIANCE THEREWITH.



8. Successors and Assigns. The Company may assign any of its rights under this Exercise Notice
to single or multiple assignees, and this agreement shall inure to the benefit of the successors
and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Exercise
Notice shall be binding upon the Grantee and his or her heirs, executors, administrators,
successors and assigns.



9. Construction. The captions used in this Exercise Notice are inserted for convenience and
shall not be deemed a part of this agreement for construction or interpretation. Except when
otherwise indicated by the context, the singular shall include the plural and the plural shall
include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.



10. Administration and Interpretation. The Grantee hereby agrees that any question or dispute
regarding the administration or interpretation of this Exercise Notice shall be submitted by the
Grantee or by the Company to the Administrator. The resolution of such question or dispute by the
Administrator shall be final and binding on all persons.



11. Governing Law; Severability. This Exercise Notice is to be construed in accordance with
and governed by the internal laws of the State of Nevada without giving effect to any choice of law
rule that would cause the application of the laws of any jurisdiction other than the internal laws
of the State of Nevada to the rights and duties of the parties. Should any provision of this
Exercise Notice be determined by a court of law to be illegal or unenforceable, such provision
shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless
remain effective and shall remain enforceable.



12. Notices. Any notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon personal delivery, upon deposit for delivery by an internationally
recognized express mail courier service or upon deposit in the United States mail by certified mail
(if the parties are within the United States), with postage and fees prepaid, addressed to the
other party at its address as shown below beneath its signature, or to such other address as such
party may designate in writing from time to time to the other party.



13. Further Instruments. The parties agree to execute such further instruments and to take
such further action as may be reasonably necessary to carry out the purposes and intent of this
agreement.



14. Entire Agreement. The Notice, the Plan and the Option Agreement are incorporated herein by
reference and together with this Exercise Notice constitute the entire agreement of the parties
with respect to the subject matter hereof and supersede in their entirety all prior undertakings
and agreements of the Company and the Grantee with respect to the subject matter hereof, and may
not be modified adversely to the Grantee’s interest except by means of a writing signed by the
Company and the Grantee. Nothing in the Notice, the Plan, the Option Agreement and this Exercise
Notice (except as expressly provided therein) is intended to confer any rights or remedies on any
persons other than the parties.



	 	 	 	 	 	 	 
	Submitted by:	 	Accepted by:
	 
	 	 	 	 	 	 
	GRANTEE:	 	GLOBAL CASH ACCESS HOLDINGS, INC.
	 
	 	 	 	 	 	 
	By:
	 	 	 	By:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	Address:
	 	Address:







 


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