Document:

Exhibit
10.4

TERMINATION AGREEMENT

Termination Agreement (this “Agreement”), dated
as of August 15, 2006, by and between Hertz Global Holdings, Inc. (“Holdings”)
and Craig R. Koch (“Optionholder”).

1.             Termination of Options and
Option Agreements.  Each of Holdings
and the Optionholder (a) agrees that, effective upon the date of this
Agreement, each of the Employee Stock Option Agreements, dated as of June 12,
2006, to which the Optionholder is a party (the “Option Agreements”),
each of the options to purchase shares of the Company (the “Options”)
granted thereunder, and the respective rights and obligations of Holdings and
Optionholder under the Hertz Global Holdings, Inc. Stock Incentive Plan (the “Plan”)
with respect to the Options, shall terminate (in accordance with the terms of
the Plan and the Option Agreements) and shall cease to have any further force
or effect, and (b) each of Holdings and the Optionholder shall be
released and discharged from any and all obligations and liabilities under the
Options, the Option Agreements and the Plan (insofar as it relates to the
Options).

2.             Release.  The Optionholder hereby releases, remises,
acquits and discharges the Company, its successors and assigns from any and all
claims, known or unknown, and however denominated, which he, his successors or
assigns has or may have against any such releasees and any and all liability
such releasees may have to the Optionholder, in each case arising from or
relating to the Options or the Option Agreements.  This release is for any relief, no matter how
denominated, including but not limited to injunctive relief, compensatory
damages, punitive damages or rescissory damages.  The Optionholder further agrees that he will
not file or permit to be filed on his behalf any such claim.  Notwithstanding the foregoing, this release
shall not apply to any claims the Optionholder may have arising from or
relating to his employment or any other options granted pursuant to the Plan,
and shall not preclude the Optionholder from making claims that he or she could
assert only in response to claims asserted against the Optionholder by the
Company.

3.             Miscellaneous.  This Agreement and the rights and obligations
of the parties hereunder shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Delaware without giving effect to its
principles or rules of conflict of laws to the extent such principles or rules
are not mandatorily applicable by statute and would require or permit the
application of the laws of another jurisdiction.  This Agreement and the rights and obligations
set forth herein shall inure to the benefit of, and be binding upon, the
parties hereto, and each of their respective successors, heirs, and assigns.  This Agreement constitutes the entire understanding
of the parties with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral or written, with respect to such
matters.  This Agreement may not be
amended orally, but only by a writing duly executed by the parties hereto.  This Agreement may be executed in
counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same instrument.

  
  
 

 

IN WITNESS WHEREOF, the undersigned have duly executed
this Agreement, all as of the date first written above.

	
  

  	
   

  	
  HERTZ GLOBAL HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Irwin Pollack

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Irwin M. Pollack

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  Employee Relations

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CRAIG R. KOCH

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Craig Koch

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Craig R. KochExhibit 10.1

AGREEMENT

AGREEMENT made and
entered into by and between Global GP LLC on behalf of Global Partners LP (the “Company”)
and Thomas A. McManmon, Jr. (the “Executive”), effective as of the 17th day of August, 2006.

WHEREAS, the
Company has determined that the continued services of the Executive are
essential to the good operations of the Company; and

WHEREAS, subject
to the terms and conditions hereinafter set forth, the Company therefore wishes
to employ the Executive and the Executive wishes to accept such employment;

NOW, THEREFORE, in
consideration of the foregoing premises and the mutual promises, terms,
provisions and conditions set forth in this Agreement, the parties hereby
agree:

1.             Employment.  Subject to the terms and conditions set forth
in this Agreement, the Company hereby offers, and the Executive hereby accepts,
employment.  Company has determined that
the continued services of the Executive are essential to the good operations of
the Company, and the Executive has agreed to perform services for the Company.

2.             Term.      Subject to earlier termination as hereinafter provided, the
Executive’s employment hereunder shall run from July 1, 2006 through September
30, 2010. The term of this Agreement is hereafter referred to as “the term of
this Agreement” or “the term hereof.”

3.             Performance of Services.  During the term hereof, the Executive shall
perform services as an employee of the Company on an as-needed basis by the
Company for up to 30 hours per week with such duties and responsibilities on
behalf of the Company as may be reasonably assigned to him from time to time by
the President and Chief Executive Officer of the Company.

4.             Compensation and Benefits.  As compensation for all services performed by
the Executive under and during the term hereof and subject to performance of
the Executive’s duties and of the obligations of the Executive to the Company,
pursuant to this Agreement or otherwise:

(a)  Salary. 
During the term hereof, the Company will pay the Executive the following
salary during the following periods of time, payable in accordance with the
regular payroll practices of the Company:

	
  Period of Time

  	
   

  	
  Salary

  
	
  07/01/2006 — 08/31/2006

  	
   

  	
   

  	
  $35,541.67 per month

  
	
  09/01/2006 — 08/31/2007

  	
   

  	
   

  	
  $37,625.00 per month

  
	
  09/01/2007 — 08/31/2008

  	
   

  	
   

  	
  $37,625.00 per month

  
	
  09/01/2008 — 08/31/2009

  	
   

  	
   

  	
  $2,083.33 per month

  
	
  09/01/2009 — 09/31/2010

  	
   

  	
   

  	
  $2,083.33 per month

  

 

 

(b)           Bonus.  The Executive shall be entitled to
participate in the Company’s 2006 annual incentive or bonus plans at the
discretion of the Company’s Chief Executive Officer.  For the years of 2007, 2008, 2009 and 2010,
the Executive shall not be entitled to participate in the Company’s annual
incentive or bonus plans.

(c)          Benefits.  During the term hereof, the Executive will be
entitled to participate in all employee benefit plans from time to time in
effect for employees of the Company generally, except as otherwise provided
under this Agreement or to the extent such plans are duplicative of benefits
otherwise provided under the Agreement. 
Executive’s participation shall be subject to the terms of any
applicable plan documents and generally applicable Company policies.  Without limiting the foregoing, during the
term hereof, the Company shall maintain existing disability insurance programs
and the existing Metropolitan Life insurance policy for the Executive’s
benefit.

(d)           Business Expenses.  During the term hereof, the Company shall pay
or reimburse the Executive for all reasonable business expenses incurred or
paid by the Executive in the performance of his duties and responsibilities
hereunder, subject to any maximum annual limit or other restrictions on such
expenses set by the Company and to such reasonable substantiation and
documentation as may be specified by the Company from time to time.  All such expenses will be reimbursed no later
than March 31 following the calendar year in which they were incurred.

(e)           Automobile Allowance.  During the term hereof, the Company shall
continue to provide the Executive with the use of an automobile consistent with
the type of automobile which the Company presently provides for the Executive,
plus operating expenses consistent with past practices.

(f)            Additional Benefits.

(i)            Algonquin Club Membership.  During the term hereof, the Company shall pay
or reimburse the Executive (1) for membership dues to the Algonquin Club, and
(2) for annual assessments, if any, for said Algonquin Club up to a maximum of
$5,000.00 per annum.

(ii)           Tax Preparation Services.  During the term hereof, the Company shall pay
or reimburse the Executive the reasonable costs of tax preparation services on
an annual basis.

(iii)          Miscellaneous.  During the term hereof, the Company shall pay
such incidental benefits (e.g. cell phone) as the Executive has previously
received, consistent with past practice.

(iv)          All expenses reimbursed pursuant to
this Section 4(f) will be reimbursed no later than March 31 following the
calendar year in which they were incurred.

5.                    Termination of Employment.  Notwithstanding the provisions
of Sections 2 and 4 hereof, the Executive’s employment hereunder may be
terminated prior to the expiration of the 

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term hereof under the
following circumstances.  If, prior to
September 31, 2010, (i) the Company terminates the Executive’s employment for
Cause (as defined below), (ii) the Executive terminates his employment for any
reason other than death or Disability (as defined below), or (iii) the
Executive breaches the Deferred Compensation Agreement Between Global Partners
LP and the Executive dated July 1, 2006 (the “Deferred Compensation Agreement”),
the Company shall have no further obligation or liability to the Executive,
other than payment of (i) any salary earned but not paid during the final
payroll period of the Executive’s employment through the date of termination
and (ii) any business expenses incurred by the Executive but un-reimbursed on
the date of termination, provided that any such expenses unreported on the date
of termination, with required substantiation and documentation, are submitted
within ninety (90) days of the date of termination and that such expenses are
reimbursable consistent with Section 4(d) hereof.  In addition, any breach of the Deferred
Compensation Agreement shall be considered to be a breach of the Agreement.

6.                    Death
or Disability.  In the event of the
Executive’s death during the term hereof, the Executive or his estate shall be
entitled to receive the remaining unpaid portion of any unpaid Payment for
Services for the remaining term of this Agreement.  In the event of Executive’s termination of
employment due to Disability during the term hereof, the Company shall continue
to pay the Executive (or, in the event of a conservator or guardian, to such
conservator or guardian) those payments otherwise due and payable during the
term hereof.

7.             Definitions. 
Words or phrases which are initially capitalized or are within quotation
marks shall have the meanings provided in this Section and as provided
elsewhere herein.  For purposes of this
Agreement, the following definitions apply:

                                (a)           “Cause” means Executive (a) commits
any serious or repeated breach of any of his obligations under this Agreement
after notice from the Company and a reasonable opportunity to cure, (b) is
guilty of egregious misconduct which, in the reasonable opinion of the Board of
Directors of the Company, has damaged or will damage the business or affairs of
the Company, (c) is convicted or pleads no contest to a felony of moral
turpitude or a felony the nature of which would reasonably be expected to have
a material adverse financial impact on the Company or its affiliates.

              (b)           “Disability” means that the Executive 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 can
be expected to last for a continuous period of not less than 12 months, or if
he is determined to be totally disabled by the Social Security Administration,
or if he is determined to be disabled in accordance with the long-term
disability plan, if any, of the Company in which the Executive participates.

8.             Withholding.  All payments made by the Company under this
Agreement shall be reduced by any tax or other amounts required to be withheld
by the Company under applicable law.

9.             Amendment.  This Agreement may be amended or modified
only by a written instrument signed by the Executive and by an expressly
authorized representative of the Company.

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10.           Governing Law.  This is a Massachusetts contract and shall be
construed and enforced under and be governed in all respects by the laws of the
Commonwealth of Massachusetts, without regard to the conflict of laws
principles thereof.

11.           Severability.  If any portion or provision of this Agreement
shall to any extent be declared illegal or unenforceable by a court of
competent jurisdiction, then the remainder of this Agreement, or the
application of such portion or provision in circumstances other than those as
to which it is so declared illegal or unenforceable, shall not be affected
thereby, and each portion and provision of this Agreement shall be valid and
enforceable to the fullest extent permitted by law.

12.           Waiver.  No waiver of any provision hereof shall be
effective unless made in writing and signed by the waiving party.  The failure of either party to require the
performance of any term or obligation of this Agreement, or the waiver by
either party of any breach of this Agreement, shall not prevent any subsequent
enforcement of such term or obligation or be deemed a waiver of any subsequent
breach.

13.           Notices.  Any and all notices, requests, demands and
other communications provided for by this Agreement shall be in writing and
shall be effective when delivered in person, consigned to a reputable national
courier service or deposited in the United States mail, postage prepaid,
registered or certified, and addressed to the Executive at his last known
address on the books of the Company or, in the case of the Company, at its
principal place of business, attention of the President and Chief Executive
Officer of the Company, or to such other address as either party may specify by
notice to the other actually received.

14.           Headings.  The headings and captions in this Agreement
are for convenience only and in no way define or describe the scope or content
of any provision of this Agreement.

IN WITNESS
WHEREOF, this Agreement has been executed as a sealed instrument by the
Company, by its duly authorized representative, and by the Executive, as of the
date first above written.

	
  THE EXECUTIVE:

  	
   

  	
  THE COMPANY

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Thomas A.
  McManmon, Jr.

  	
   

  	
  By:

  	
   

  	
  /s/ Eric Slifka

  
	
  Thomas A.
  McManmon, Jr.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President & CEO

  

 

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