Document:

Exhibit 10.6

 

EXECUTION VERSION

	
 
    	
 
    	
October 26, 2016
    
	
 
    	
 
    	
 
    
	
To:
    	
 
    	
Cardtronics, Inc.
    
	
 
    	
 
    	
3250 Briarpark Drive
    
	
 
    	
 
    	
Suite 400
    
	
 
    	
 
    	
Houston, Texas 77042
    
	
 
    	
 
    	
Attn: Edward H. West and Todd Ruden
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Cardtronics plc
    
	
 
    	
 
    	
3250 Briarpark Drive
    
	
 
    	
 
    	
Suite 400
    
	
 
    	
 
    	
Houston, Texas 77042
    
	
 
    	
 
    	
Attn: Edward H. West and Todd Ruden
    
	
 
    	
 
    	
 
    
	
From:
    	
 
    	
Wells Fargo Bank, National Association (“Wells   Fargo”)
    
	
 
    	
 
    	
375 Park Avenue
    
	
 
    	
 
    	
New York, NY 10152
    
	
 
    	
 
    	
Attn: Structuring Services Group
    
	
 
    	
 
    	
Telephone: 212-214-6101
    
	
 
    	
 
    	
Facsimile: 212-214-5913
    
	
 
    	
 
    	
 
    
	
Re:
    	
 
    	
Base Issuer Warrant Transaction   — Amended and Restated
    

 

Ladies and Gentlemen:

 

The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced transaction entered into on the Trade Date specified below (the “Transaction”) between Wells Fargo Bank, National Association (“Dealer”) and Cardtronics, Inc. (“Counterparty”), as amended and restated hereby as of October 26, 2016 (the “Amendment Date”).  This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below.

 

Reference is made to the merger transaction (the “Redomicile Merger”) pursuant to which Counterparty became an indirect, wholly-owned subsidiary of Cardtronics plc, a public limited company incorporated under the laws of England and Wales (“Counterparty Parent”) on July 1, 2016 (the “Redomicile Merger Date”).  In connection with the Redomicile Merger, Counterparty and Dealer desire to amend and restate the terms and conditions of the “Confirmation” in respect of the Transaction, as entered into between Dealer and Counterparty as of November 19, 2013 and in effect immediately prior to the Amendment Date (the “Original Confirmation”) to provide certain representations, warranties and agreements of Counterparty Parent and make such other amendments and modifications as further set forth below. On the Amendment Date, the Original Confirmation shall be replaced in its entirety by this Confirmation, and the Original Confirmation shall thereafter be of no further force and effect and shall be deemed replaced and superseded in all respects by this Confirmation (for the avoidance of doubt, except to evidence the obligations of Counterparty (including, for the avoidance of doubt, in its capacity as “Issuer” under the Original Confirmation) with respect to representations and warranties previously made by Counterparty (including, for the avoidance of doubt, in its capacity as “Issuer” under the Original Confirmation) under the Original Confirmation and the obligations of Counterparty (including, for the avoidance of doubt, in its capacity as “Issuer” under the Original Confirmation) (whether or not contingent) with respect to covenants previously required to have been performed by Counterparty (including, for the avoidance of doubt, in its capacity as “Issuer” under the Original Confirmation) under the Original Confirmation, which obligations are in all respects continuing and in full force and effect and are reaffirmed hereby).  Accordingly, in consideration of the mutual representations, warranties and agreements contained herein and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as set forth herein.

 

 

1.              This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA Definitions (including the Annex thereto) (the “2006 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the “Definitions”), in each case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”).  In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity Definitions will govern.  For purposes of the Equity Definitions, each reference herein to a Warrant shall be deemed to be a reference to a Call Option or an Option, as context requires.

 

This Confirmation evidences a complete and binding agreement among Dealer and Counterparty, and for the limited purpose of certain representations, warranties and agreements (including, without limitation, the provisions of Section 9 (Guarantee) of this Confirmation), Counterparty Parent as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an agreement in such form (without any Schedule but with the elections set forth in this Confirmation and the election that (I) the “Breach of Agreement; Repudiation of Agreement” provisions of Section 5(a)(ii) of the Agreement and the “Misrepresentation” provisions of Section 5(a)(iv) of the Agreement shall apply to Counterparty but with references to the “party” being deemed to be references to Counterparty and Parent Counterparty and (II) the “Cross-Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Dealer with a “Threshold Amount” of 3% of the stockholders’ equity of Dealer’s ultimate parent company (“Dealer Parent”) and to Counterparty with a “Threshold Amount” of USD 30 million; provided that (A) the words “, or becoming capable at such time of being declared,” shall be deleted from such Section 5(a)(vi), (B) the term “Specified Indebtedness” shall have the meaning specified in Section 14 of the Agreement, except that, with respect to Dealer, such term shall not include obligations in respect of deposits received in the ordinary course of a party’s banking business and (C) the following language shall be added to the end of such Section 5(a)(vi): “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely by error or omission of an administrative or operational nature; (ii) funds were available to enable the party to make the payment when due; and (iii) the payment is made within two Local Business Days of such party’s receipt of written notice of its failure to pay.”).  For the avoidance of doubt, the Transaction shall be the only transaction under the Agreement.

 

All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein.  In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern.  The term “Issuer” means (i) prior to the Redomicile Merger Date, Counterparty, (ii) on or after the Redomicile Merger Date but prior to the Amendment Date, Counterparty Parent; provided that, it shall be deemed to refer to Counterparty as the counterparty to the Transaction as the context shall require, (iii) on or after the Amendment Date, Counterparty Parent and (iv) at all times, subject to adjustment and modification as provided herein and in the Equity Definitions.

 

2.              The Transaction is a Warrant Transaction, which shall be considered a Share Option Transaction for purposes of the Equity Definitions.  The terms of the particular Transaction to which this Confirmation relates are as follows:

 

	
General Terms:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Trade   Date:
    	
 
    	
November 19, 2013
    
	
 
    	
 
    	
 
    
	
Components:
    	
 
    	
The Transaction will be divided into individual   Components, each with the terms set forth in this Confirmation, and, in   particular, with the Number of Warrants and Expiration Date set forth in this   Confirmation. The payments and deliveries to be made upon settlement of the   Transaction will be determined separately for each Component as if each   Component were a separate Transaction under the Agreement.
    
	
 
    	
 
    	
 
    
	
Warrant   Style:
    	
 
    	
European
    
	
 
    	
 
    	
 
    
	
Warrant   Type:
    	
 
    	
Call
    
	
 
    	
 
    	
 
    
	
Seller:
    	
 
    	
Counterparty
    

 

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Buyer:
    	
 
    	
Dealer
    
	
 
    	
 
    	
 
    
	
Shares:
    	
 
    	
(i) Prior to the Redomicile Merger Date, the   common stock of Counterparty, par value USD 0.0001 per share (Ticker Symbol:   “CATM”); and (ii) on or after the Redomicile Merger Date, the   Class A ordinary shares of Counterparty Parent, nominal value USD0.01 per   share (Ticker Symbol: “CATM”).
    
	
 
    	
 
    	
 
    
	
Number   of Warrants:
    	
 
    	
For each Component, as provided in Annex A to this   Confirmation.
    
	
 
    	
 
    	
 
    
	
Warrant   Entitlement:
    	
 
    	
One Share per Warrant
    
	
 
    	
 
    	
 
    
	
Strike   Price:
    	
 
    	
As provided in Annex A to this Confirmation.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Notwithstanding anything to the contrary in the   Agreement, this Confirmation or the Equity Definitions, in no event shall the   Strike Price be subject to adjustment to the extent that, after giving effect   to such adjustment, the Strike Price would be less than USD 41.86, except for   any adjustment pursuant to the terms of this Confirmation and the Equity   Definitions in connection with stock splits or similar changes to Issuer’s   capitalization.
    
	
 
    	
 
    	
 
    
	
Premium:
    	
 
    	
As provided in Annex A to this Confirmation.
    
	
 
    	
 
    	
 
    
	
Premium   Payment Date:
    	
 
    	
November 25, 2013, subject to   Section 8(p) below.
    
	
 
    	
 
    	
 
    
	
Exchange:
    	
 
    	
NASDAQ Global Select Market
    
	
 
    	
 
    	
 
    
	
Related   Exchange:
    	
 
    	
All Exchanges
    
	
 
    	
 
    	
 
    
	
Procedures for Exercise:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
In respect of any Component:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Expiration   Time:
    	
 
    	
Valuation Time
    
	
 
    	
 
    	
 
    
	
Expiration   Date:
    	
 
    	
As provided in Annex A to this Confirmation   (or, if such date is not a Scheduled Trading Day, the next following   Scheduled Trading Day that is not already an Expiration Date for another   Component); provided that if that date is a   Disrupted Day, the Expiration Date for such Component shall be the first   succeeding Scheduled Trading Day that is not a Disrupted Day and is not or is   not deemed to be an Expiration Date in respect of any other Component of the   Transaction hereunder; and provided further   that if the Expiration Date has not occurred pursuant to the preceding   proviso as of the Final Disruption Date, Dealer may elect in its discretion   that the Final Disruption Date shall be the Expiration Date (irrespective of   whether such date is an Expiration Date in respect of any other Component for   the Transaction) and, notwithstanding anything to the contrary in this   Confirmation or the Definitions, the Relevant Price for such Expiration Date   shall be the prevailing market value per Share determined by the Calculation   Agent in a commercially reasonable manner. “Final   Disruption Date” has the meaning specified in Annex A to this   Confirmation. Notwithstanding the foregoing and anything to the contrary in   the Equity Definitions, if a Market Disruption Event occurs on any Expiration   Date, the Calculation Agent may determine that such Expiration Date is a   Disrupted Day only in part, in which case (i) the Calculation Agent   shall make adjustments to the Number of Warrants for the relevant Component   for which such day shall be the Expiration Date and 
    

 

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shall designate the Scheduled Trading Day determined   in the manner described in the immediately preceding sentence as the   Expiration Date for the remaining Warrants for such Component, and   (ii) the VWAP Price for such Disrupted Day shall be determined by the   Calculation Agent based on transactions in the Shares on such Disrupted Day   taking into account the nature and duration of such Market Disruption Event   on such day. Any Scheduled Trading Day on which, as of the date hereof, the   Exchange is scheduled to close prior to its normal close of trading shall be   deemed not to be a Scheduled Trading Day; if a closure of the Exchange prior   to its normal close of trading on any Scheduled Trading Day is scheduled   following the date hereof, then such Scheduled Trading Day shall be deemed to   be a Disrupted Day in full. Section 6.6 of the Equity Definitions shall   not apply to any Valuation Date occurring on an Expiration Date.
    
	
 
    	
 
    	
 
    
	
Market   Disruption Event:
    	
 
    	
Section 6.3(a) of the Equity Definitions   is hereby amended (A) by deleting the words “during the one hour period   that ends at the relevant Valuation Time, Latest Exercise Time, Knock-in   Valuation Time or Knock-out Valuation Time, as the case may be,” in clause   (ii) thereof and (B) by replacing the words “or (iii) an Early   Closure.” therein with “(iii) an Early Closure, or (iv) a Regulatory   Disruption.”
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Section 6.3(d) of the Equity Definitions   is hereby amended by deleting the remainder of the provision following the   term “Scheduled Closing Time” in the fourth line thereof.
    
	
 
    	
 
    	
 
    
	
Regulatory   Disruption:
    	
 
    	
Any event that Dealer, in its reasonable judgment,   based on advice of counsel, determines makes it advisable with regard to any   applicable legal, regulatory or self-regulatory requirements, or with related   policies and procedures applicable to Dealer and the Transaction (whether or   not such requirements, policies or procedures are imposed by law or have been   voluntarily adopted by Dealer in good faith in relation to such   requirements), for Dealer to refrain from or decrease any market activity in   connection with the Transaction. Dealer shall notify Counterparty as soon as   reasonably practicable that a Regulatory Disruption has occurred and the   Expiration Dates affected by it.
    
	
 
    	
 
    	
 
    
	
Automatic   Exercise:
    	
 
    	
Applicable; and means that the Number of Warrants   for each Component will be deemed to be automatically exercised at the   Expiration Time on the Expiration Date for such Component unless Dealer   notifies Seller (by telephone or in writing) prior to the Expiration Time on   the Expiration Date that it does not wish Automatic Exercise to occur, in   which case Automatic Exercise will not apply.
    
	
 
    	
 
    	
 
    
	
Counterparty’s   Telephone Number and Telex and/or Facsimile Number and Contact Details for   purpose of Giving Notice:
    	
 
    	
To be provided by Counterparty.
    
	
 
    	
 
    	
 
    
	
Settlement Terms:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
In respect of any Component:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Settlement   Method Election:
    	
 
    	
Applicable; provided that (i) references to   “Physical Settlement” in Section 7.1 of the Equity Definitions shall be   replaced by 
    

 

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references to “Net Share Settlement”;   (ii) Counterparty may elect Cash Settlement only if each of Counterparty   and Counterparty Parent represents and warrants to Dealer in writing on the   date of such election that (A) each of Counterparty and Counterparty   Parent is not aware of any material nonpublic information regarding Issuer,   Counterparty Parent or the Shares, (B) Counterparty is electing Cash   Settlement in good faith and not as part of a plan or scheme to evade   compliance with the federal securities laws, and (C) the assets of   Counterparty and Counterparty Parent at their fair valuation exceed their   respective liabilities, including contingent liabilities, and each of   Counterparty and Counterparty Parent has the ability to pay its debts and   obligations as such debts mature; and (iii) the same settlement method   shall apply to all Components hereunder.
    
	
 
    	
 
    	
 
    
	
Electing   Party:
    	
 
    	
Counterparty
    
	
 
    	
 
    	
 
    
	
Settlement   Method Election Date:
    	
 
    	
The fifth Scheduled Trading Day immediately   preceding the scheduled Expiration Date for the Component with the earliest   scheduled Expiration Date.
    
	
 
    	
 
    	
 
    
	
Default   Settlement Method:
    	
 
    	
Net Share Settlement
    
	
 
    	
 
    	
 
    
	
Settlement   Currency:
    	
 
    	
USD
    
	
 
    	
 
    	
 
    
	
Net   Share Settlement:
    	
 
    	
If Net Share Settlement is applicable, on each   Settlement Date, Counterparty shall deliver (or cause to be delivered) to   Dealer a number of Shares equal to the Number of Shares to be Delivered for   such Settlement Date to the account specified by Dealer and cash in lieu of   any fractional shares valued at the Relevant Price on the Valuation Date   corresponding to such Settlement Date.
    
	
 
    	
 
    	
 
    
	
Number   of Shares to be Delivered:
    	
 
    	
In respect of any Exercise Date, subject to the last   sentence of Section 9.5 of the Equity Definitions, the product of   (i) the number of Warrants exercised or deemed exercised on such Exercise   Date, (ii) the Warrant Entitlement and (iii) (A) the excess,   if any, of the VWAP Price on the Valuation Date occurring on such Exercise   Date over the Strike Price divided by   (B) such VWAP Price.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
The Number of Shares to be Delivered shall be delivered   by Counterparty to Dealer no later than 1:00 P.M. (local time in New   York City) on the relevant Settlement Date.
    
	
 
    	
 
    	
 
    
	
Cash   Settlement:
    	
 
    	
If Cash Settlement is applicable, on the relevant   Settlement Date, Counterparty shall pay to Dealer an amount of cash in USD   (the “Option Cash Settlement Amount”) equal   to the product of (i) the number of Warrants exercised or deemed   exercised on such Exercise Date, (ii) the Warrant Entitlement and   (iii) the excess, if any, of the VWAP Price on the Valuation Date occurring   on such Exercise Date over the Strike Price.
    
	
 
    	
 
    	
 
    
	
VWAP   Price:
    	
 
    	
For any Valuation Date, the Rule 10b-18 dollar   volume weighted average price per Share for such Valuation Date based on   transactions executed during such Valuation Date, as reported on Bloomberg   Screen “CATM <Equity> AQR SEC” (or any successor thereto) or, in the   event such price is not so reported on such Valuation Date for any reason or   is manifestly incorrect, as reasonably determined by the Calculation Agent   using a volume weighted method.
    

 

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Settlement   Dates:
    	
 
    	
As determined pursuant to Section 9.4 of the   Equity Definitions; provided that   Section 9.4 of the Equity Definitions is hereby amended by   (i) inserting the words “or cash” immediately following the word   “Shares” in the first line thereof and (ii) inserting the words “for the   Shares” immediately following the words “Settlement Cycle” in the second line   thereof.
    
	
 
    	
 
    	
 
    
	
Other   Applicable Provisions:
    	
 
    	
If Net Share Settlement is applicable, the   provisions of Sections 9.1(c), 9.8, 9.9, 9.10, 9.11 (except that the   Representation and Agreement contained in Section 9.11 of the Equity   Definitions shall be modified by excluding any representations therein   relating to restrictions, obligations, limitations or requirements under   applicable securities laws arising as a result of the fact that Seller is an   affiliate of the issuer of the Shares) and 9.12 of the Equity Definitions   will be applicable as if “Physical Settlement” applied to the Transaction.
    
	
 
    	
 
    	
 
    
	
Adjustments:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
In respect of any Component:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Method   of Adjustment:
    	
 
    	
Calculation Agent Adjustment
    
	
 
    	
 
    	
 
    
	
Extraordinary   Dividend:
    	
 
    	
Any Dividend (i) that has an ex-dividend date   occurring on or after the Trade Date and on or prior to the date on which   Counterparty satisfies all of its delivery obligations hereunder and   (ii) the amount or value of which exceeds the Ordinary Dividend Amount for   such Dividend, as determined by the Calculation Agent.
    
	
 
    	
 
    	
 
    
	
Dividend:
    	
 
    	
Any dividend or distribution on the Shares (other   than any dividend or distribution of the type described in Sections   11.2(e)(i), 11.2(e)(ii)(A) or 11.2(e)(ii)(B) of the Equity Definitions).
    
	
 
    	
 
    	
 
    
	
Ordinary   Dividend Amount:
    	
 
    	
USD 0.00.
    
	
 
    	
 
    	
 
    
	
Extraordinary Events:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Consequences   of Merger Events:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Merger   Event:
    	
 
    	
If an event occurs that constitutes both a Merger   Event under Section 12.1(b) of the Equity Definitions and an Additional   Termination Event under Section 8(m) of this Confirmation, the   provisions of Section 12.2 of the Equity Definitions shall apply.   Notwithstanding anything to the contrary in the Original Confirmation or the   Equity Definitions, the parties acknowledge and agree that Modified   Calculation Agent Adjustment shall apply to the Redomicile Merger.
    
	
 
    	
 
    	
 
    
	
(a)         Share-for-Share:
    	
 
    	
Modified Calculation Agent Adjustment
    
	
 
    	
 
    	
 
    
	
(b)         Share-for-Other:
    	
 
    	
Cancellation and Payment (Calculation Agent   Determination)
    
	
 
    	
 
    	
 
    
	
(c)          Share-for-Combined:
    	
 
    	
Component Adjustment
    
	
 
    	
 
    	
 
    
	
Tender   Offer:
    	
 
    	
Applicable; provided that   Section 12.1(d) of the Equity Definitions is hereby amended by   replacing “10%” with “25%”. If an event occurs that constitutes both a Tender   Offer under Section 12.1(d) of the Equity Definitions and an   Additional Termination Event under Section 8(m) of this   Confirmation, the provisions of Section 12.3 of the Equity Definitions   shall apply.
    

 

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Consequences   of Tender Offers:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
(a)         Share-for-Share:
    	
 
    	
Modified Calculation Agent Adjustment
    
	
 
    	
 
    	
 
    
	
(b)         Share-for-Other:
    	
 
    	
Cancellation and Payment (Calculation Agent   Determination) on that portion of the Other Consideration that consists of   cash; Modified Calculation Agent Adjustment on the remainder of the Other   Consideration.
    
	
 
    	
 
    	
 
    
	
(c)          Share-for-Combined:
    	
 
    	
Modified Calculation Agent Adjustment
    
	
 
    	
 
    	
 
    
	
Modified   Calculation Agent Adjustment:
    	
 
    	
If, in respect of any Merger Event to which Modified   Calculation Agent Adjustment applies, the adjustments to be made in   accordance with Section 12.2(e)(i) of the Equity Definitions would   result in Counterparty being different from the issuer of the Shares, then   with respect to such Merger Event, as a condition precedent to the   adjustments contemplated in Section 12.2(e)(i) of the Equity Definitions,   Dealer, the issuer of the Affected Shares and the entity that will be the   issuer of the New Shares shall, prior to the Merger Date (or, solely in the   case of the Redomicile Merger, on or prior to the Amendment Date), have   entered into such documentation containing representations, warranties and   agreements relating to securities law and other issues as requested by Dealer   that Dealer has determined, in its reasonable judgment, based on advice of   counsel, to be reasonably necessary or appropriate to allow Dealer to   continue as a party to the Transaction, as adjusted under   Section 12.2(e)(i) of the Equity Definitions, and to preserve its   commercially reasonable hedging or hedge unwind activities in connection with   the Transaction in a manner compliant with applicable legal, regulatory or   self-regulatory requirements, or with related policies and procedures   applicable to Dealer and the Transaction (whether or not such requirements,   policies or procedures are imposed by law or have been voluntarily adopted by   Dealer in good faith in relation to such requirements), and if such   conditions are not met or if the Calculation Agent determines that no   adjustment that it could make under Section 12.2(e)(i) of the   Equity Definitions will produce a commercially reasonable result, then the   consequences set forth in Section 12.2(e)(ii) of the Equity   Definitions shall apply.
    
	
 
    	
 
    	
 
    
	
Consequences   of Announcement Events:
    	
 
    	
Modified Calculation Agent Adjustment as set forth   in Section 12.3(d) of the Equity Definitions; provided   that references to “Tender Offer” shall be replaced by references to   “Announcement Event” and references to “Tender Offer Date” shall be replaced   by references to “date of such Announcement Event” and provided   further that, in making any adjustment as a result of an   Announcement Event, the Calculation Agent shall take into account the Hedging   Party’s commercially reasonable Hedge Positions. An Announcement Event shall   be an “Extraordinary Event” for purposes of the Equity Definitions, to which   Article 12 of the Equity Definitions is applicable.
    
	
 
    	
 
    	
 
    
	
Announcement   Event:
    	
 
    	
(i) The public announcement of any Merger Event   or Tender Offer or the intention to enter into a Merger Event or Tender   Offer, (ii) the public announcement by Issuer of an intention to solicit   or 
    

 

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enter into, or to explore strategic alternatives or   other similar undertakings that are reasonably likely to include, a Merger   Event or Tender Offer or (iii) any subsequent public announcement of a   change to a transaction or intention that is the subject of an announcement   of the type described in clause (i) or (ii) of this sentence (in   each case, if such announcement is made by, or on behalf of, Issuer, a   counterparty to a proposed Merger Event with Issuer or the tendering party in   a proposed Tender Offer).
    
	
 
    	
 
    	
 
    
	
Announcement   Date:
    	
 
    	
The definition of “Announcement Date” in   Section 12.1 of the Equity Definitions is hereby amended by   (i) replacing the words “a firm” with the word “any” in the second and   fourth lines thereof, (ii) replacing the word “leads to the” with the   words “, if completed, would lead to a” in the third and the fifth lines   thereof, (iii) replacing the words “voting shares” with the word   “Shares” in the fifth line thereof, and (iv) inserting the words “by any   entity” after the word “announcement” in the second and the fourth lines   thereof.
    
	
 
    	
 
    	
 
    
	
New   Shares:
    	
 
    	
In the definition of New Shares in   Section 12.1(i) of the Equity Definitions, (a) the text in   clause (i) thereof shall be deleted in its entirety (including the word   “and” following such clause (i)) and replaced with “publicly quoted, traded   or listed on any of the New York Stock Exchange, The NASDAQ Global Select   Market or The NASDAQ Global Market (or their respective successors),” and   (b) the phrase “and (iii) issued by a corporation organized under   the laws of the United States, any State thereof or the District of Columbia”   shall be inserted immediately prior to the period. Notwithstanding anything   to the contrary in the Original Confirmation or the Equity Definitions, the   parties acknowledge and agree that the “Shares” (as defined in clause   (ii) of the definition thereof) constituted New Shares in respect of the   Redomicile Merger.
    
	
 
    	
 
    	
 
    
	
Nationalization, Insolvency   or Delisting:
    	
 
    	
Cancellation and Payment (Calculation Agent   Determination); provided that in addition to   the provisions of Section 12.6(a)(iii) of the Equity Definitions,   it shall also constitute a Delisting if the Exchange is located in the United   States and the Shares are not immediately re-listed, re-traded or re-quoted   on any of the New York Stock Exchange, The NASDAQ Global Select Market or The   NASDAQ Global Market (or their respective successors); if the Shares are   immediately re-listed, re-traded or re-quoted on any such exchange or   quotation system, such exchange or quotation system shall thereafter be   deemed to be the Exchange.
    
	
 
    	
 
    	
 
    
	
Additional   Disruption Events:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
(a)         Change in Law:
    	
 
    	
Applicable; provided that   Section 12.9(a)(ii) is hereby amended by (i) adding the words   “(including, for the avoidance of doubt and without limitation, any tax law   or the adoption or promulgation of new regulations authorized or mandated by   existing statute)” after the word “regulation” in the second line thereof,   (ii) replacing the phrase “the interpretation” in the third line thereof   with the phrase “, or public announcement of, the formal or informal   interpretation”, (iii) adding the words “or any Hedge Positions” after   the word “Shares” in the clause (X) thereof, (iv) immediately 
    

 

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following the word “Transaction” in clause   (X) thereof, adding the phrase “in the manner contemplated by the   Hedging Party on the Trade Date” and (v) adding the words “, or holding,   acquiring or disposing of Shares or any Hedge Positions relating to,” after   the word “under” in clause (Y) thereof.
    
	
 
    	
 
    	
 
    
	
(b)         Failure to Deliver:
    	
 
    	
Not Applicable
    
	
 
    	
 
    	
 
    
	
(c)          Insolvency Filing:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
(d)         Hedging Disruption:
    	
 
    	
Applicable; provided   that:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(i) Section 12.9(a)(v) of the Equity   Definitions is hereby amended by (a) inserting the following words at   the end of clause (A) thereof: “in the manner contemplated by the   Hedging Party on the Trade Date” and (b) inserting the following two   sentences at the end of such Section:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
“For the avoidance of doubt, the term “equity price   risk” shall be deemed to include, but shall not be limited to, stock price   and volatility risk. And, for the further avoidance of doubt, any such   transactions or assets referred to in phrases (A) or (B) above must   be available on commercially reasonable pricing terms.”; and
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(ii) Section 12.9(b)(iii) of the   Equity Definitions is hereby amended by inserting in the third line thereof,   after the words “to terminate the Transaction”, the words “or a portion of   the Transaction affected by such Hedging Disruption”.
    
	
 
    	
 
    	
 
    
	
(e)          Increased Cost of   Hedging:
    	
 
    	
Applicable. In addition to, and without limitation   of, Section 12.9(a)(vi) of the Equity Definitions, it will   constitute an Increased Cost of Hedging if, at any time following the   Redomicile Merger Date, Dealer reasonably determines in its good faith   judgment that (x) the Redomicile Merger has had a material adverse   effect on Dealer’s rights and obligations under the Transaction and/or   (y) Dealer would incur an increased (as compared with circumstances   existing on the Trade Date) amount of tax, duty, expense or fee to   (1) acquire, establish, re-establish, substitute, maintain, unwind or   dispose of any transaction(s) or asset(s) it deems necessary to   hedge the economic risk of entering into and performing its obligations with   respect to the Transaction, or (2) realize, recover or remit the proceeds   of any such transaction(s) or asset(s) (any such event in clauses   (x) and/or (y) above, a “Redomicile Merger Event”).   Notwithstanding anything to the contrary in Section 12.9(b)(vi) of   the Equity Definitions, in respect of any Redomicile Merger Event:    (i) upon making any election set forth in clauses (A), (B) or   (C) of such Section 12.9(b)(vi), each of Counterparty and   Counterparty Parent shall repeat in writing the representation set forth in   Section 7(a)(i) of this Confirmation as of the date of such   election, (ii) if Dealer determines in its good faith, commercially   reasonable judgment that no Price Adjustment will produce a commercially   reasonably result, Dealer shall so notify Counterparty (in lieu of any   obligation to notify Counterparty of a Price Adjustment under such   Section 12.9(b)(vi)) and (iii) if Dealer determines in its good   faith, commercially reasonable judgment that no Price Adjustment will produce   a commercially reasonably result, then such determination shall constitute an   Additional Termination Event applicable to the Transaction and, with respect   to such Additional Termination Event, (1) Counterparty shall be
    

 

9

 

	
 
    	
 
    	
deemed to be the sole Affected Party, (2) the   Transaction shall be the sole Affected Transaction and (3) Dealer shall   be the party entitled to designate an Early Termination Date pursuant to   Section 6(b) of the Agreement.
    
	
 
    	
 
    	
 
    
	
(f)           Loss of Stock Borrow:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Maximum   Stock Loan Rate:
    	
 
    	
As provided in Annex A to this Confirmation.
    
	
 
    	
 
    	
 
    
	
(g)          Increased Cost of Stock Borrow:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Initial   Stock Loan Rate:
    	
 
    	
As provided in Annex A to this Confirmation.
    
	
 
    	
 
    	
 
    
	
Hedging   Party:
    	
 
    	
Dealer for all applicable Potential Adjustment   Events and Extraordinary Events
    
	
 
    	
 
    	
 
    
	
Determining   Party:
    	
 
    	
Dealer for all applicable Extraordinary Events
    
	
 
    	
 
    	
 
    
	
Non-Reliance:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Agreements   and Acknowledgments Regarding Hedging Activities:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Additional   Acknowledgments:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
3.              Calculation   Agent:
    	
 
    	
Dealer; provided that   following the occurrence of an Event of Default of the type described in   Section 5(a)(vii) of the Agreement with respect to which Dealer is   the sole Defaulting Party, if the Calculation Agent fails to timely make any   calculation, adjustment or determination required to be made by the   Calculation Agent hereunder or to perform any obligation of the Calculation   Agent hereunder and such failure continues for five (5) Exchange   Business Days following notice to the Calculation Agent by Counterparty of   such failure, Counterparty shall have the right to designate a nationally   recognized third-party dealer in over-the-counter corporate equity   derivatives to act, during the period commencing on the date such Event of   Default occurred and ending on the Early Termination Date with respect to   such Event of Default, as the Calculation Agent. Upon request from   Counterparty, the Calculation Agent shall promptly (but in no event later   than within five (5) Exchange Business Days from the receipt of such request)   provide Counterparty with a written explanation describing in reasonable   detail any calculation, adjustment or determination made by it (including any   quotations, market data or information from external sources used in making   such calculation, adjustment or determination, as the case may be, but   without disclosing Dealer’s proprietary models or other information that may   be proprietary or subject to contractual, legal or regulatory obligations to   not disclose such information).
    
	
 
    	
 
    	
 
    
	
4.              Account   Details:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Dealer Payment Instructions:
    	
 
    	
To be provided by Dealer.
    
	
 
    	
 
    	
 
    
	
Counterparty   Payment Instructions:
    	
 
    	
To be provided by Counterparty.
    
	
 
    	
 
    	
 
    
	
5.              Offices:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
The Office of Dealer   for the Transaction is: Charlotte
    

 

10

 

The Office of Counterparty for the Transaction is: Not applicable

 

6.              Notices: For purposes of this Confirmation:

 

(a)                                 Address for notices or communications to Counterparty and/or Counterparty Parent:

 

Cardtronics, Inc.

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Edward H. West

Telephone: (832) 308-4599

Email: ewest@cardtronics.com

 

Cardtronics, Inc.

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Todd Ruden

Telephone: (832) 308-4150

Email: truden@cardtronics.com

 

With a copy to:

 

Cardtronics, Inc.

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Roger Craig

Telephone: (832) 308-4030

Email: rcraig@cardtronics.com

 

With a copy to:

 

Cardtronics plc

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Edward H. West

Telephone: (832) 308-4599

Email: ewest@cardtronics.com

 

(b)                                 Address for notices or communications to Dealer:

 

Notwithstanding anything to the contrary in the Agreement, all notices to Wells Fargo in connection with the Transaction shall be sent by email to CorporateDerivativeNotifications@wellsfargo.com.

 

Wells Fargo Bank, National Association
 375 Park Avenue, 4th Floor
 MAC J0127-041
 New York, NY 10152

 

7.              Representations, Warranties and Agreements:

 

(a)                                 In addition to the representations and warranties in the Agreement and those contained elsewhere herein, each of Counterparty and Counterparty Parent represents and warrants to and for the benefit of, and agrees with, Dealer as follows; provided that, Counterparty Parent will not be deemed to have made any representation or warranty

 

11

 

set forth below to the extent the provisions below would have required such representation or warranty to have been made prior to the Amendment Date:

 

(i)                                     On the Trade Date, on the Amendment Date and as of the date of any election by Counterparty of the Share Termination Alternative under (and as defined in) Section 8(a) below, each of Counterparty and Counterparty Parent is not aware of any material nonpublic information regarding Issuer, Counterparty Parent or the Shares.

 

(ii)                                  Without limiting the generality of Section 13.1 of the Equity Definitions, each of Counterparty and Counterparty Parent acknowledges that Dealer is not making any representations or warranties or taking any position or expressing any view with respect to the treatment of the Transaction under any accounting standards including ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity (or any successor issue statements) or under FASB’s Liabilities & Equity Project.

 

(iii)                               Prior to each of the Trade Date and the Amendment Date, Counterparty and Counterparty Parent shall deliver to Dealer a resolution of such party’s board of directors (or the equivalent authority, as applicable) authorizing the Transaction (as amended and restated on the Amendment Date) and such other certificate or certificates as Dealer shall reasonably request.

 

(iv)                              Each of Counterparty and Counterparty Parent is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) in violation of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any other applicable securities laws.

 

(v)                                 Each of Counterparty and Counterparty Parent is not, and after giving effect to the transactions contemplated hereby will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

(vi)                              On the Trade Date and on the Amendment Date, (A) the assets of each of Counterparty and Counterparty Parent at their fair valuation exceed their respective liabilities, including contingent liabilities, (B) the capital of each of Counterparty and Counterparty Parent is adequate to conduct its business and (C) each of Counterparty and Counterparty Parent has the ability to pay its debts and obligations as such debts mature and does not intend to, or does not believe that it will, incur debt beyond its ability to pay as such debts mature.

 

(vii)                           Each of Counterparty and Counterparty Parent shall not take any action to decrease the number of Available Shares below the Capped Number (each as defined below).

 

(viii)                        The representations and warranties of Counterparty set forth in Section 3 of the Agreement and Section 1 of the Purchase Agreement dated as of November 19, 2013, between Issuer and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representative of the Initial Purchasers party thereto (the “Purchase Agreement”) are true and correct as of the Trade Date and are hereby deemed to be repeated to Dealer as if set forth herein.

 

(ix)                              Each of Counterparty and Counterparty Parent understands no obligations of Dealer to it hereunder will be entitled to the benefit of deposit insurance and that such obligations will not be guaranteed by any affiliate of Dealer or any governmental agency.

 

(x)                                 (A) During the period starting on the first Expiration Date and ending on the last Expiration Date (the “Settlement Period”), the Shares or securities that are convertible into, or exchangeable or exercisable for, Shares will not be subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and (B) Issuer shall not engage in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Settlement Period, as applicable.

 

(xi)                              On each day during the Settlement Period, Issuer will not, will cause its subsidiaries not to and will use commercially reasonable efforts to cause its other “affiliated purchasers” (as defined in Rule 10b-18 under the Exchange Act (“Rule 10b-18”)) not to, directly or indirectly (including, without limitation, by

 

12

 

means of any cash-settled or other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer.

 

(xii)                           On the Trade Date and at all times until termination or earlier expiration of the Transaction, (A) a number of Shares equal to the Capped Number have been reserved for issuance by all required corporate action of Issuer, (B) the Shares issuable upon exercise of the Warrants (the “Warrant Shares”) have been duly authorized and, when delivered against payment therefor (which may include Net Share Settlement in lieu of cash) and otherwise as contemplated by the terms of the Warrant following the exercise of the Warrant in accordance with the terms and conditions of the Warrant, will be validly issued, fully-paid and non-assessable and (C) the issuance of the Warrant Shares will not be subject to any preemptive or similar rights.

 

(xiii)                        To the best of each of Counterparty and Counterparty Parent’s knowledge, no state or local (including the laws of England and Wales and other non-U.S. jurisdictions) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares.

 

(xiv)                       Each of Counterparty and Counterparty Parent (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least $50 million.

 

(xv)                          Without limiting the generality of Section 3(a) of the Agreement and without limiting the representations and warranties made by Counterparty in paragraph 7(a)(xiv) of the Original Confirmation on the Trade Date, neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of either Counterparty and/or Counterparty Parent hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents) of Counterparty, the memorandum of association or articles of association (or any equivalent documents) of Counterparty Parent, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument filed as an exhibit to Counterparty’s Annual Report on Form 10-K for the year ended December 31, 2015, as updated by any subsequent filings (including Counterparty Parent’s Form 8-K12B filed on July 1, 2016 and any subsequent filings made by Counterparty Parent as successor issuer to Counterparty), to which Counterparty, Counterparty Parent or any of their respective subsidiaries is a party or by which Counterparty, Counterparty Parent or any of their respective subsidiaries is bound or to which Counterparty, Counterparty Parent or any of their respective subsidiaries is subject, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

 

(xvi)                       An application for the listing of the Warrant Shares has been submitted to the Exchange.

 

(xvii)                    Each of Counterparty and Counterparty Parent understands, acknowledges and agrees that: (A) at any time during the term of the Transaction, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging or market activities in securities of Counterparty and/or Counterparty Parent shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the relevant prices with respect to the Shares referred to herein; and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the relevant prices with respect to the shares referred to herein, each in a manner that may be adverse to Counterparty and/or Counterparty Parent.

 

(b)                                 Each of Dealer, Counterparty and Counterparty Parent agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of the U.S. Commodity Exchange Act, as amended.

 

(c)                                  Each of Dealer, Counterparty and Counterparty Parent acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(a)(2) thereof.  Accordingly, Dealer represents and warrants to Counterparty and

 

13

 

Counterparty Parent that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and is able to bear a total loss of its investment, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to the distribution or resale thereof and (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws.

 

(d)                                 Each of Counterparty and Counterparty Parent agrees and acknowledges that Dealer has informed it that Dealer is a “financial institution”  and “financial participant”  within the meaning of Sections 101(22) and 101(22A) of Title 11 of the United States Code (the “Bankruptcy Code”).  The parties hereto further agree and acknowledge that it is the intent of the parties that (A) this Confirmation is a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “settlement payment,” within the meaning of Section 546 of the Bankruptcy Code, and (B) Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o), 546(e), 548(d)(2), 555 and 561 of the Bankruptcy Code.

 

(e)                                  Counterparty has delivered to Dealer an opinion of counsel, dated as of November 25, 2013, in the form agreed between Counterparty and Dealer. Each of Counterparty and Counterparty Parent shall deliver to Dealer one or more opinions of counsel, dated as of the Amendment Date, in substantially the form agreed between Dealer and Counterparty or Counterparty Parent, as applicable.

 

(f)                                   Each of Counterparty and Counterparty Parent understands that notwithstanding any other relationship between Counterparty and Dealer and/or their affiliates, in connection with this Transaction and any other over-the-counter derivative transactions between Counterparty and Dealer and/or their affiliates, Dealer or its affiliates is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment, unwind or termination thereof.

 

8.  Other Provisions:

 

(a)                                 Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.  If Counterparty shall owe Dealer any amount pursuant to Sections 12.2, 12.3, 12.6, 12.7 or 12.9 of the Equity Definitions or pursuant to Section 6(d)(ii) of the Agreement (a “Payment Obligation”), Counterparty shall have the right, in its sole discretion, to satisfy any such Payment Obligation by the Share Termination Alternative (as defined below) by giving irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than the later of (x) 9:30 A.M. New York City time on the Merger Date, Tender Offer Date, Announcement Date, Early Termination Date or date of cancellation or termination in respect of an Extraordinary Event, as applicable, and (y) two hours after becoming aware of the relevant event or date; provided that, in the case of this clause (y), if such notice would otherwise be given during the regular trading session on the Exchange, such notice shall instead be given after the close of the regular trading session on the Exchange (in either case, “Notice of Share Termination”); provided that if Counterparty does not elect to satisfy its Payment Obligation by the Share Termination Alternative, Dealer shall have the right, in its sole discretion, to elect to require Counterparty to satisfy its Payment Obligation by the Share Termination Alternative, notwithstanding Counterparty’s failure to elect or election to the contrary; and provided further that Counterparty shall not have the right to so elect (but, for the avoidance of doubt, Dealer shall have the right to so elect) in the event of (i) an Insolvency, a Nationalization, a Tender Offer or a Merger Event, in each case, in which the consideration or proceeds to be paid to holders of Shares consists solely of cash or (ii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party, which Event of Default or Termination Event resulted from an event or events within Counterparty or Counterparty Parent’s control.  Upon such Notice of Share Termination, the following provisions shall apply on the Scheduled Trading Day immediately following the Merger Date, the Tender Offer Date, Announcement Date, Early Termination Date or date of cancellation or termination in respect of an Extraordinary Event, as applicable:

 

	
Share Termination Alternative:
    	
 
    	
Applicable and means that Counterparty shall deliver   (or cause to be delivered) to Dealer the Share Termination Delivery Property   on the date on which the Payment Obligation would otherwise be due pursuant   to Section 12.7 or 12.9 of the Equity Definitions or   Section 6(d)(ii) of the Agreement, as applicable (the “Share Termination Payment Date”), in satisfaction of the   Payment Obligation.
    

 

14

 

	
Share Termination Delivery Property:
    	
 
    	
A number of Share Termination Delivery Units, as   calculated by the Calculation Agent, equal to the Payment Obligation divided   by the Share Termination Unit Price. The Calculation Agent shall adjust the   Share Termination Delivery Property by replacing any fractional portion of   the aggregate amount of a security therein with an amount of cash equal to   the value of such fractional security based on the values used to calculate   the Share Termination Unit Price.
    
	
 
    	
 
    	
 
    
	
Share Termination Unit Price:
    	
 
    	
The value of property contained in one Share   Termination Delivery Unit on the date such Share Termination Delivery Units   are to be delivered as Share Termination Delivery Property, as determined by   the Calculation Agent in its discretion by commercially reasonable means and   notified by the Calculation Agent to Counterparty at the time of notification   of the Payment Obligation.
    
	
 
    	
 
    	
 
    
	
Share Termination Delivery Unit:
    	
 
    	
In the case of a Termination Event, Event of   Default, Delisting or Additional Disruption Event, one Share or, in the case   of an Insolvency, Nationalization, Merger Event or Tender Offer, one Share or   a unit consisting of the number or amount of each type of property received   by a holder of one Share (without consideration of any requirement to pay   cash or other consideration in lieu of fractional amounts of any securities) in   such Insolvency, Nationalization, Merger Event or Tender Offer, as   applicable. If such Insolvency, Nationalization, Merger Event or Tender Offer   involves a choice of consideration to be received by holders, such holder   shall be deemed to have elected to receive the maximum possible amount of   cash.
    
	
 
    	
 
    	
 
    
	
Other applicable provisions:
    	
 
    	
If Share Termination Alternative is applicable, the   provisions of Sections 9.8, 9.9, 9.10, 9.11 (except that the Representation   and Agreement contained in Section 9.11 of the Equity Definitions shall   be modified by excluding any representations therein relating to   restrictions, obligations, limitations or requirements under applicable   securities laws arising as a result of the fact that Seller is an affiliate   of the issuer of the Shares or any portion of the Share Termination Delivery   Units) and 9.12 of the Equity Definitions will be applicable as if “Physical   Settlement” applied to the Transaction, except that all references to   “Shares” shall be read as references to “Share Termination Delivery Units”.
    

 

(b)                                 Registration/Private Placement Procedures.  (i)  If, in the good faith reasonable judgment of Dealer based on advice of counsel, any Shares or any securities of Counterparty, Counterparty Parent, Issuer (if other than Counterparty and Counterparty Parent) or their affiliates comprising any Share Termination Delivery Units deliverable to Dealer hereunder (any such Shares or securities, “Delivered Securities”) would not be immediately freely transferable by Dealer under Rule 144 under the Securities Act, other than as a result of Dealer being an “affiliate” (as defined in Rule 144(a)(1) under the Securities Act) of Issuer, then the provisions set forth in this Section 8(b) shall apply.  At the election of Counterparty by notice to Dealer within one Scheduled Trading Day after the relevant delivery obligation arises, but in any event at least one Scheduled Trading Day prior to the date on which such delivery obligation is due, Counterparty and Counterparty Parent agree that either (A) all Delivered Securities delivered by Counterparty to Dealer shall be, at the time of such delivery, covered by an effective registration statement of Counterparty Parent (or Issuer, if other than Counterparty Parent) for immediate resale by Dealer (such registration statement and the corresponding prospectus (the “Prospectus”) (including, without limitation, any sections describing the plan of distribution) in form and content commercially reasonably satisfactory to Dealer) or (B) Counterparty shall deliver (or cause to be delivered) additional Delivered Securities so that the value of such Delivered Securities, as determined by the Calculation Agent to reflect a commercially reasonable liquidity discount, equals the value of the number of Delivered Securities that would otherwise be deliverable if such Delivered Securities were freely tradeable (without prospectus delivery) upon receipt by Dealer (such value, the “Freely Tradeable Value”); provided that Counterparty may not make the election described in this clause (B) if, on the date of its election, Counterparty, Counterparty Parent and/or Issuer (if other than Counterparty and Counterparty Parent) has taken, or caused to be taken, any action that would make unavailable either the exemption pursuant to Section 4(a)(2) of the Securities Act for the delivery by Counterparty to Dealer (or any affiliate designated by Dealer) of the Delivered Securities or the exemption pursuant to Section 4(a)(1) or Section 4(a)(3) of the Securities Act for resales of the Delivered Securities by Dealer (or any such affiliate of Dealer).  (For the avoidance of doubt, as used in this paragraph (b) only, the term “Issuer” shall mean the issuer of the relevant securities, as the context shall require.)

 

15

 

(ii)                                  If Counterparty makes the election described in clause (b)(i)(A) above, Counterparty and Counterparty Parent acknowledge and agree that:

 

(A)                               Dealer (or an affiliate of Dealer designated by Dealer) shall be afforded a reasonable opportunity to conduct a due diligence investigation with respect to Issuer that is customary in scope for underwritten offerings of equity securities of similar size for similarly situated issuers and that yields results that are commercially reasonably satisfactory to Dealer or such affiliate, as the case may be, in its discretion; and

 

(B)                               Dealer (or an affiliate of Dealer designated by Dealer) and Issuer shall enter into an agreement (a “Registration Agreement”) on commercially reasonable terms in connection with the public resale of such Delivered Securities by Dealer or such affiliate substantially similar to underwriting agreements customary for underwritten offerings of equity securities of similar size for similarly situated issuers, in form and substance commercially reasonably satisfactory to Dealer or such affiliate and Issuer, which Registration Agreement shall include, without limitation, provisions substantially similar to those customarily contained in such underwriting agreements relating to the indemnification of, and contribution in connection with the liability of, Dealer and its affiliates and Issuer, shall provide for the payment by Issuer of all expenses in connection with such resale, including all registration costs and all fees and expenses of counsel for Dealer and such affiliate, and shall provide for the delivery of accountants’ “comfort letters” in customary form for registered offerings of equity securities of similar size for a similarly situated issuer to Dealer and such affiliate with respect to the financial statements and certain financial information contained in or incorporated by reference into the Prospectus.

 

(iii)                               If Counterparty makes the election described in clause (b)(i)(B) above, Counterparty and Counterparty Parent acknowledge and agree that:

 

(A)                               Dealer (or an affiliate of Dealer designated by Dealer) and any potential institutional purchaser of any such Delivered Securities from Dealer or such affiliate identified by Dealer shall be afforded a commercially reasonable opportunity to conduct a due diligence investigation in compliance with applicable law with respect to Issuer customary in scope for private placements of equity securities (including, without limitation, the right to have made available to them for inspection all financial and other records, pertinent corporate documents and other information reasonably requested by them);

 

(B)                               Dealer (or an affiliate of Dealer designated by Dealer) and Issuer shall enter into an agreement (a “Private Placement Agreement”) on commercially reasonable terms in connection with the private placement of such Delivered Securities by Issuer to Dealer or such affiliate and the private resale of such shares by Dealer or such affiliate, substantially similar to private placement purchase agreements customary for private placements of equity securities of similar size for similarly situated issuers, in form and substance commercially reasonably satisfactory to Dealer and Issuer, which Private Placement Agreement shall include, without limitation, provisions substantially similar to those customarily contained in such private placement purchase agreements, if any, relating to the indemnification of, and contribution in connection with the liability of, Dealer and its affiliates and Issuer, shall provide for the payment by Issuer of all expenses in connection with such resale, including all fees and expenses of counsel for Dealer, shall contain representations, warranties and agreements of Issuer reasonably necessary or advisable to establish and maintain the availability of an exemption from the registration requirements of the Securities Act for such resales, and shall use best efforts to provide for the delivery of accountants’ “comfort letters” to Dealer or such affiliate with respect to the financial statements and certain financial information contained in or incorporated by reference into the offering memorandum prepared for the resale of such Shares; and

 

(C)                               Issuer agrees that any Delivered Securities so delivered to Dealer, (i) may be transferred by and among Dealer and its affiliates that are 100% owned direct or indirect subsidiaries of Dealer Parent, and Issuer shall effect such transfer without any further action by Dealer if such transfer would then comply with applicable securities laws and (ii) after the minimum “holding period” within the meaning of Rule 144(d) under the Securities Act has elapsed with respect to such Delivered Securities, Issuer shall promptly remove, or cause the transfer agent for such Shares or securities to remove, any legends referring to any such restrictions or requirements from such Delivered Securities upon delivery by Dealer (or such affiliate of Dealer) to Issuer or such transfer agent of seller’s and broker’s representation letters customarily delivered by Dealer in connection with resales of restricted securities pursuant to Rule 144 under the Securities Act, without any further requirement for the delivery of any other certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or any other action by Dealer (or such affiliate of Dealer).

 

16

 

(D)                               Each of Counterparty, Counterparty Parent and Issuer shall not take, or cause to be taken, any action that it reasonably believes would make unavailable either the exemption pursuant to Section 4(a)(2) of the Securities Act for the sale by Counterparty to Dealer (or any affiliate designated by Dealer) of the Shares or Share Termination Delivery Units, as the case may be, or the exemption pursuant to Section 4(a)(1) or Section 4(a)(3) of the Securities Act for resales of the Shares or Share Termination Delivery Units, as the case may be, by Dealer (or any such affiliate of Dealer).

 

(c)                                  Make-whole. If Counterparty makes the election described in clause (b)(i)(B) of paragraph (b) of this Section 8, then Dealer or its affiliate may sell such Shares or Share Termination Delivery Units, as the case may be, during a period (the “Resale Period”) commencing on the Exchange Business Day following delivery of such Shares or Share Termination Delivery Units, as the case may be, and ending on the Exchange Business Day on which Dealer completes the sale of all such Shares or Share Termination Delivery Units, as the case may be, or a sufficient number of Shares or Share Termination Delivery Units, as the case may be, so that the realized net proceeds of such sales exceed the Freely Tradeable Value (such amount of the Freely Tradeable Value, the “Required Proceeds”).  If any of such delivered Shares or Share Termination Delivery Units remain after such realized net proceeds exceed the Required Proceeds, Dealer shall return such remaining Shares or Share Termination Delivery Units to Counterparty.  If the Required Proceeds exceed the realized net proceeds from such resale after all such Shares or Share Termination Delivery Units are so sold, Counterparty shall transfer to Dealer on or prior to the second Scheduled Trading Day immediately following receipt of written notice from Dealer of the amount of such excess (the “Additional Amount”) cash in an amount equal to the Additional Amount or a number of additional Shares or Share Termination Delivery Units, as the case may be, (“Make-whole Shares”) in an amount that, based on the Relevant Price on the last day of the Resale Period (as if such day was the “Valuation Date” for purposes of computing such Relevant Price), has a dollar value equal to the Additional Amount.  The Resale Period shall continue to enable the sale of the Make-whole Shares in the manner contemplated by this Section 8(c).  This provision shall be applied successively until the Additional Amount is equal to zero, subject to Section 8(e).

 

(d)                                 Beneficial Ownership. Notwithstanding anything to the contrary in the Agreement or this Confirmation, in no event shall Dealer be entitled to receive, or shall be deemed to receive, any Shares in connection with this Transaction if, immediately upon giving effect to such receipt of such Shares, (i) Dealer’s Beneficial Ownership would be equal to or greater than 7.5% of the outstanding Shares, (ii) the Warrant Equity Percentage exceeds 14.5% or (iii) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under any federal, state or local laws, regulations, regulatory orders or organizational documents of Counterparty or Counterparty Parent or contracts of Counterparty and/or Counterparty Parent that are, in each case, applicable to ownership of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior approval by a state or federal regulator, including in respect of the laws of England and Wales or any other non-U.S. jurisdiction) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under Applicable Restrictions, as determined by Dealer in its reasonable discretion, and with respect to which such requirements have not been met or the relevant approval has not been received or that would give rise to any consequences under the constitutive documents of Counterparty or Counterparty Parent or any contract or agreement to which Counterparty and/or Counterparty Parent is a party, in each case minus (y) 1% of the number of Shares outstanding on the date of determination (each of clause (i), (ii), (iii) and (iv) above, an “Ownership Limitation”). If any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of an Ownership Limitation, Dealer’s right to receive such delivery shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Exchange Business Day after, Dealer gives notice to Counterparty that such delivery would not result in any of such Ownership Limitations being breached.  “Dealer’s Beneficial Ownership” means the “beneficial ownership” (within the meaning of Section 13 of the Exchange Act and the rules promulgated thereunder (collectively, “Section 13”)) of Shares, without duplication, by Dealer, together with any of its affiliates or other person subject to aggregation with Dealer under Section 13 for purposes of “beneficial ownership”, or by any “group” (within the meaning of Section 13) of which Dealer is or may be deemed to be a part (Dealer and any such affiliates, persons and groups, collectively, “Dealer Group”) (or, to the extent that, as a result of a change in law, regulation or interpretation after the date hereof, the equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder results in a higher number, such number).  Notwithstanding anything in the Agreement or this Confirmation to the contrary, Dealer (or the affiliate designated by Dealer pursuant to Section 8(l) below) shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Shares that Dealer (or such affiliate) is not entitled to receive at any time pursuant to this Section 8(d),

 

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until such time as such Shares are delivered pursuant to this Section 8(d).  The “Warrant Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the sum of (1) the product of the Number of Warrants and the Warrant Entitlement and (2) the aggregate number of Shares underlying any other warrants purchased by Dealer from Counterparty and/or Counterparty Parent, and (B) the denominator of which is the number of Shares outstanding.

 

(e)                                  Limitations on Settlement.  Notwithstanding anything herein or in the Agreement to the contrary, in no event shall Counterparty be required to deliver Shares in connection with the Transaction in excess of the Capped Number of Shares (as provided in Annex A to this Confirmation), subject to adjustment from time to time in accordance with the provisions of this Confirmation or the Definitions resulting from actions of Counterparty and/or Counterparty Parent or events within Counterparty and/or Counterparty Parent’s control (the “Capped Number”).  Each of Counterparty and Counterparty Parent represents and warrants to Dealer (which representation and warranty shall be deemed to be repeated on each day that the Transaction is outstanding) that the Capped Number is equal to or less than the number of authorized but unissued Shares of the Issuer that are not reserved for future issuance in connection with transactions in the Shares (other than the Transaction) on the date of the determination of the Capped Number (such Shares, the “Available Shares”).  In the event Counterparty shall not have delivered the full number of Shares otherwise deliverable as a result of this Section 8(e) (the resulting deficit, the “Deficit Shares”), Counterparty shall be continually obligated to deliver (or cause to be delivered), from time to time until the full number of Deficit Shares have been delivered pursuant to this paragraph, Shares when, and to the extent, that (i) Shares are repurchased, acquired or otherwise received by Issuer or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration), (ii) authorized and unissued Shares reserved for issuance in respect of other transactions prior to such date which prior to the relevant date become no longer so reserved or (iii) Issuer additionally authorizes any unissued Shares that are not reserved for other transactions.  Counterparty Parent shall immediately notify Dealer of the occurrence of any of the foregoing events (including the number of Shares subject to clause (i), (ii) or (iii) and the corresponding number of Shares to be delivered) and promptly deliver such Shares thereafter.

 

(f)                                   Right to Extend.  The Calculation Agent may postpone or add, in whole or in part, any Exercise Date or Settlement Date or any other date of valuation or delivery with respect to some or all of the relevant Warrants (in which event the Calculation Agent shall make appropriate adjustments to the Number of Shares to be Delivered or the Option Cash Settlement Amount, as applicable, with respect to one or more Components), if Dealer reasonably determines, based on advice of counsel in the case of the immediately following clause (ii), that such postponement or addition is reasonably necessary or appropriate to (i) preserve Dealer’s commercially reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market, the stock loan market or any other relevant market (but only if there is a material decrease in liquidity relative to Dealer’s expectations as of the Trade Date) or (ii) to enable Dealer to effect purchases of Shares in connection with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty and/or Counterparty Parent or an affiliated purchaser of Counterparty and/or Counterparty Parent, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer and the Transaction (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer in good faith in relation to such requirements).

 

(g)                                  Equity Rights.  Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to the Transaction that are senior to the claims of common stockholders in the event of Counterparty or Counterparty Parent’s, as applicable, bankruptcy.  For the avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time other than during Counterparty or Counterparty Parent’s, as applicable, bankruptcy to any claim arising as a result of a breach by Counterparty or Counterparty Parent, as applicable, of any of its obligations under this Confirmation or the Agreement.  For the avoidance of doubt, the parties acknowledge that this Confirmation is not secured by any collateral that would otherwise secure the obligations of Counterparty or Counterparty Parent herein under or pursuant to any other agreement.

 

(h)                                 Amendments to Equity Definitions.  The following amendments shall be made to the Equity Definitions:

 

(i)                                     Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “an event having, in the determination of the Calculation Agent, a diluting or concentrative effect on the theoretical value of the relevant Shares” and replacing them with the words “a Potential Adjustment Event”;

 

(ii)                                  The first sentence of Section 11.2(c) of the Equity Definitions, prior to clause (A) thereof, is hereby amended to read as follows: ‘(c) If “Calculation Agent Adjustment” is specified as the Method of

 

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Adjustment in the related Confirmation of a Share Option Transaction, then following the announcement or occurrence of any Potential Adjustment Event, the Calculation Agent will determine whether such Potential Adjustment Event has an effect on the theoretical value of the relevant Shares or options on the Shares and, if so, will (i) make appropriate adjustment(s), if any, to any one or more of:’ and, the portion of such sentence immediately preceding clause (ii) thereof is hereby amended by deleting the words “diluting or concentrative” and the words “(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing such latter phrase with the words “(and, for the avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)”;

 

(iii)                               Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative effect on the theoretical value of the relevant Shares” and replacing them with the words “, in the commercially reasonable judgment of the Calculation Agent, an economic effect on the relevant Shares, options on the relevant Shares or the Transaction; provided that such event is not based on (a) an observable market, other than the market for Issuer’s own stock or (b) an observable index, other than an index calculated and measured solely by reference to Issuer’s own operations”;

 

(iv)                              Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at Dealer’s option, the occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.”;

 

(v)                                 Section 12.7(b) of the Equity Definitions is hereby amended by deleting the words “(and in any event within five Exchange Business Days) by the parties after” appearing after the words “agreed promptly” and replacing with the words “by the parties on or prior to”.

 

(vi)                              Section 12.9(b)(iv) of the Equity Definitions is hereby amended by (A) deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and (B) deleting the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares in the amount of the Hedging Shares or” in the penultimate sentence; and

 

(vii)                           Section 12.9(b)(v) of the Equity Definitions is hereby amended by (A) adding the word “or” immediately before subsection “(B)” and deleting the comma at the end of subsection (A); and (B)(1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately preceding subsection (C) and (3) replacing in the penultimate sentence the words “either party” with “the Hedging Party” and (4) deleting clause (X) in the final sentence.

 

(i)                                     Transfer and Assignment.  Dealer may transfer or assign its rights and obligations hereunder and under the Agreement, in whole or in part, at any time to any person or entity whatsoever without the consent of any of Counterparty and Counterparty Parent; provided that, (i) as a result of any such transfer or assignment, Counterparty will not be required to pay the transferee or assignee of such rights or obligations on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than the amount, if any, that Counterparty would have been required to pay Dealer in the absence of such transfer or assignment and (ii) the transferee or assignee shall provide Counterparty with a complete and accurate U.S. Internal Revenue Service Form W-9 or W-8 (as applicable) prior to becoming a party to the Transaction.  At any time at which an Ownership Limitation exists, if Dealer reasonably determines it is unable to effect a transfer or assignment to a third party after using its commercially reasonable efforts on pricing terms and within a time period reasonably acceptable to Dealer to the extent that an Ownership Limitation would no longer exist after giving effect thereto (assuming a commercially reasonable corresponding change to Dealer’s commercially reasonable Hedge Position), Dealer may designate any Scheduled Trading Day as an Early Termination Date with respect to a portion (the “Terminated Portion”) of the Transaction to the extent that such Ownership Limitation would no longer exist after giving effect thereto (assuming a commercially reasonable corresponding change to Dealer’s commercially reasonable Hedge Position). In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall be made pursuant to Section 6 of the Agreement and Section 8(a) of this Confirmation as if (i) an Early Termination Date had been designated in respect of an Additional Termination Event occurring under a Transaction having terms identical to the Terminated Portion of the Transaction, (ii) Counterparty shall be the sole Affected Party with respect to such Additional Termination Event and (iii) such portion of the Transaction shall be the only Terminated Transaction. Dealer shall use commercially reasonable efforts to manage its Hedge Positions, through cash-settled swaps or otherwise, to avoid an Ownership Limitation without exercising the

 

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termination right described in the two immediately preceding sentences; provided that, if Dealer determines that as a result of using such efforts Dealer or its affiliates would incur any increased (as compared with circumstances existing on the Trade Date) amount of tax, duty, expense or fee, then Dealer may give notice to Counterparty of such increased cost and the Price Adjustment that Dealer proposes to make to the Transaction in respect thereof and Counterparty shall, within two Scheduled Trading Days, notify Dealer of its election to either (A) amend this Confirmation to take into account such Price Adjustment or (B) pay Dealer an amount determined by the Calculation Agent that corresponds to such Price Adjustment; and provided further that, if notice of such election is not given by the end of that second Scheduled Trading Day, then notwithstanding the foregoing, Dealer will be deemed to have used, and thereafter to use, commercially reasonable efforts to manage its Hedge Positions as required above.

 

(j)                                    Adjustments.  For the avoidance of doubt, whenever the Calculation Agent is called upon to make an adjustment pursuant to the terms of this Confirmation or the Definitions to take into account the effect of an event, the Calculation Agent shall make such adjustment by reference to the effect of such event on the Hedging Party, assuming that the Hedging Party maintains a commercially reasonable hedge position.

 

(k)                                 Disclosure.  Effective from the date of commencement of discussions concerning the Transaction, Counterparty and Counterparty Parent and each of their employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty or Counterparty Parent relating to such tax treatment and tax structure.

 

(l)                                     Designation by Dealer.  Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities to or from Counterparty or Counterparty Parent, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such shares or other securities and otherwise to perform Dealer obligations in respect of the Transaction and any such designee may assume such obligations.  Dealer shall be discharged of its obligations to Counterparty and Counterparty Parent only to the extent of any such performance.

 

(m)                             Additional Termination Events.  The occurrence of any of the following shall constitute an Additional Termination Event with respect to which the Transaction shall be the sole Affected Transaction and Counterparty shall be the sole Affected Party; provided that with respect to any Additional Termination Event, Dealer may choose to treat part of the Transaction as the sole Affected Transaction, and, upon the termination of the Affected Transaction, a Transaction with terms identical to those set forth herein except with a Number of Warrants equal to the unaffected number of Warrants shall be treated for all purposes as the Transaction, which shall remain in full force and effect:

 

(i)                                      Dealer reasonably determines that it is advisable, based on advice of counsel, to terminate a portion of the Transaction so that Dealer’s related commercially reasonable hedging activities with respect to the Transaction will comply with applicable securities laws, rules or regulations or related policies and procedures applicable to Dealer and the Transaction (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer in good faith in relation to such requirements);

 

(ii)                                   Counterparty ceases to be a direct or indirect wholly-owned subsidiary of Issuer;

 

(iii)                                a “person” or “group” (within the meaning of Section 13(d) of the Exchange Act), other than Counterparty, Counterparty Parent, their respective subsidiaries and their and such subsidiaries’ employee benefit plans, files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the common equity of Counterparty or Counterparty Parent, as applicable, representing more than 50.0% of the voting power of all classes of such common equity entitled to vote generally in the election of Counterparty Parent’s directors; or

 

(iv)                              consummation of (A) any recapitalization, reclassification or change of the Shares (other than changes resulting from a subdivision or combination) pursuant to which the Shares would be converted into, or exchanged for, stock, other securities, other property or assets, (B) any share exchange, consolidation, merger or similar event involving Counterparty Parent pursuant to which the Shares will be converted into, or exchanged for, cash, securities or other property or (C) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of Counterparty, Counterparty Parent and their

 

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respective subsidiaries, taken as a whole, to any person other than one or more of Counterparty Parent’s wholly owned subsidiaries;

 

provided that, notwithstanding the foregoing, a transaction or series of transactions described in the immediately preceding clause (iii) or (iv) shall not constitute an Additional Termination Event if (x) at least 90% of the consideration received or to be received by holders of the Shares (excluding cash payments for fractional Shares and cash payments made pursuant to dissenters’ appraisal rights) in connection with such transaction or transactions consists of shares of common stock, depositary receipts representing common equity interests or similar certificates, in each case, traded on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) and (y) as a result of such transaction or transactions, such consideration constitutes the “Shares” hereunder. In addition, a transaction or event that constitutes an Additional Termination Event under both clauses (iii) and (iv) above will be deemed to constitute an Additional Termination Event solely under clause (iv) above.

 

(n)                              No Netting and Set-off.  Each party waives any and all rights it may have to set off obligations arising under the Agreement and the Transaction against other obligations between the parties, whether arising under any other agreement, applicable law or otherwise.

 

(o)                              Payment by Dealer.  In the event that an Early Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Dealer owes to Counterparty or Counterparty Parent an amount calculated under Section 6(e) of the Agreement, such amount shall be deemed to be zero.

 

(p)                                 Early Unwind.  In the event the sale by Issuer of the “Firm Securities” is not consummated with the initial purchasers pursuant to the Purchase Agreement for any reason by the close of business in New York on November 25, 2013 (or such later date as agreed upon by the parties, which in no event shall be later than December 6, 2013) (November 25, 2013 or such later date being the “Early Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations of Dealer and Issuer thereunder shall be cancelled and terminated and (ii) only in the case where such Early Unwind occurred as a result of events within Issuer’s control, Issuer shall pay to Dealer an amount in cash equal to the aggregate amount of costs and expenses relating to the unwinding of Dealer’s hedging activities in respect of the Transaction (including market losses incurred in reselling any Shares purchased by Dealer or its affiliates in connection with such hedging activities) or, at the election of Issuer, deliver to Dealer Shares with a value equal to such amount, as commercially reasonably determined by the Calculation Agent, in which event the parties shall enter into customary and commercially reasonable documentation relating to the registered or exempt resale of such Shares; provided that, if Issuer makes such election to deliver Shares, notwithstanding the foregoing, the number of Shares so delivered will not exceed a number of Shares equal to the Capped Number. Following such termination, cancellation and (if applicable) payment or delivery, each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of either party arising out of and to be performed in connection with the Transaction either prior to or after the Early Unwind Date.  Dealer and Issuer represent and acknowledge to the other that upon an Early Unwind and following the payment or delivery referred to above (if applicable), all obligations with respect to the Transaction shall be deemed fully and finally discharged.

 

(q)                                 Wall Street Transparency and Accountability Act of 2010.  The parties hereby agree that none of (v) Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), (w) any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the Trade Date, (x) the enactment of WSTAA or any regulation under the WSTAA, (y) any requirement under WSTAA nor (z) an amendment made by WSTAA, shall limit or otherwise impair either party’s rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of Hedging, Loss of Stock Borrow, Increased Cost of Stock Borrow, an Ownership Limitation or Illegality (as defined in the Agreement)).

 

(r)                                    Withholding Tax with respect to non-US counterparties.  “Indemnifiable Tax” as defined in Section 14 of the Agreement shall not include (i) any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or

 

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regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”) or (ii) any U.S. federal withholding tax imposed on amounts treated as dividends from sources within the United States under Sections 305 or 871(m) of the Code (or any Treasury regulations or other guidance issued thereunder) (a “Dividend Tax”). For all purposes of Section 2(d) of the Agreement, the requirement that Issuer remit any amount of Dividend Tax (without regard to whether there is a payment under the Transaction from which to withhold or deduct Tax) shall be treated as a requirement to withhold or deduct Tax with respect to a payment under the Transaction. If at any time, Issuer is required to remit an amount of Dividend Tax then without duplication for any amount that Issuer has deducted on account of such Tax from any payment pursuant to the Transaction, the amount that was remitted shall be payable by Dealer to Issuer within 10 days after the request therefor by Issuer. For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement.

 

(s)                                   Waiver of Trial by Jury.  EACH OF COUNTERPARTY, COUNTERPARTY PARENT AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY  ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION OR THE ACTIONS OF BUYER OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

(t)                                    Governing Law; Jurisdiction.  THIS CONFIRMATION AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS CONFIRMATION SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.  THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS.

 

(u)                                 Process Agent.  Counterparty Parent hereby irrevocably appoints Counterparty as its Process Agent.

 

(v)                                 United Kingdom Stamp Taxes.  The Counterparty shall be liable to pay to and reimburse the Dealer on demand in respect of all and any United Kingdom stamp duty and/or stamp duty reserve tax (including any related costs, fines, penalties or interest) arising in connection with (a) the execution and delivery of this Confirmation or the Agreement or (b) the Transaction.

 

9.                                      Additional Provisions:

 

(a)                                 Guarantee.  Counterparty Parent unconditionally guarantees to Dealer and its successors and assigns the full and punctual payment and/or delivery, as applicable, of the Shares and any amounts (if any) in respect of the Warrants when due, whether on any Settlement Date, or upon cancellation, termination, early unwind or otherwise, and all other obligations owing by Counterparty under this Confirmation and the Transaction (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”).  Counterparty Parent further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from Counterparty Parent, and that Counterparty Parent will remain bound under this Section 9 notwithstanding any extension or renewal of any Guaranteed Obligation.

 

Counterparty Parent waives presentation to, demand of payment from and protest to Counterparty of any of the Guaranteed Obligations and also waives notice of protest for nonpayment.  Counterparty Parent waives notice of any Event of Default, Termination Event, Extraordinary Event, exercise of Warrants or any other event that could give rise to an obligation to pay and/or deliver in respect of any Guaranteed Obligations. The obligations of Counterparty Parent hereunder shall not be affected by: (i) the failure of Dealer to assert any claim or demand or to enforce any right or remedy against Counterparty or any other person under this Confirmation, the Transaction or any other agreement or otherwise; (ii) any extension or renewal of any Guaranteed Obligation; (iii) any rescission, waiver, amendment, modification or supplement of any of the terms or provisions of this Confirmation (other than this Section 9), the Transaction or any other agreement; (iv) the failure of Dealer to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; (v) any change in the ownership of Counterparty; or (vi) any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of Counterparty Parent or would otherwise operate as a discharge of Counterparty Parent as a matter of law or equity, except for payment and/or delivery, as applicable, of all obligations under this Confirmation and the Transaction in full.

 

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Counterparty Parent further agrees that its guarantee herein constitutes a guarantee of payment, delivery and performance when due (and not a guarantee of collection).

 

The obligations of Counterparty Parent hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (except to the extent provided in Section 9(b) hereof), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense, setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise.

 

Counterparty Parent further agrees that its guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed Obligation is rescinded or must otherwise be restored by Dealer upon the reorganization of Counterparty or otherwise, subject to Section 8(g).

 

In furtherance of the foregoing and not in limitation of any other right which Dealer has at law or in equity against Counterparty Parent by virtue hereof, upon the failure of Counterparty to pay and/or deliver any Guaranteed Obligation when and as the same shall become due, whether on any Settlement Date, or upon cancellation, termination, early unwind or otherwise, Counterparty Parent hereby promises to and will, upon receipt of written demand from Dealer, forthwith pay and/or deliver, as applicable, or cause to be paid and/or delivered, to Dealer an amount equal to all Guaranteed Obligations of Counterparty to Dealer.

 

Counterparty Parent agrees that, as between Counterparty Parent, on the one hand, and Dealer, on the other hand, (i) the Expiration Date, Settlement Date or any other date of exercise, settlement or delivery of the Guaranteed Obligations may be accelerated as provided herein for the purposes of the guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations, and (ii) in the event of any such acceleration of such Guaranteed Obligations as provided herein, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by Counterparty Parent for the purposes of this Section 9(a).

 

Counterparty Parent also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees) incurred by Dealer in enforcing any rights under this Section 9(a).

 

(b)         Limitation on Liability.  Each of Counterparty Parent, Counterparty and Dealer hereby acknowledges that it is the intention of all such parties that the guarantee of Counterparty Parent not constitute a fraudulent transfer or conveyance for purposes of any applicable law.  To effectuate the foregoing intention, Counterparty Parent, Counterparty and Dealer hereby irrevocably agree that the payment obligations of Counterparty Parent under Section 9(a) will be limited to the maximum amount that will result in the obligations of Counterparty Parent under its guarantee not constituting a fraudulent transfer or conveyance.

 

(c)          Successors and Assigns.  This Section 9 shall be binding upon Counterparty Parent and its successors and assigns and shall inure to the benefit of the successors and assigns of Dealer and, in the event of any transfer or assignment of rights in accordance with the terms of this Confirmation by Dealer, the rights and privileges conferred upon that party in this Confirmation shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Confirmation, the Transaction and the guarantee.

 

(d)         No Waiver.  Neither a failure nor a delay on the part of Dealer in exercising any right, power or privilege under this Section 9 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of Dealer herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Section 9, this Confirmation, at law, in equity, by statute or otherwise.

 

(e)          Right of Contribution.  Notwithstanding any payment or payments made by Counterparty Parent hereunder, Counterparty Parent shall not be entitled to exercise any rights of subrogation it may have to any of the rights of Dealer against Counterparty or guarantee or right of offset held by Dealer for the payment of the Guaranteed Obligations, and Counterparty Parent shall not seek or be entitled to seek any contribution or reimbursement from Counterparty in respect of payments made by Counterparty Parent hereunder, until all amounts owing to Dealer by Counterparty on account of the Guaranteed Obligations are paid in full. If any amount shall be paid to Counterparty Parent on account of such subrogation rights at any time when all of the Guaranteed Obligations shall not have been paid and delivered, as

 

23

 

applicable, in full, such amount shall be held by Counterparty Parent in trust for Dealer, segregated from other funds or assets, as applicable, of Counterparty Parent, and shall, forthwith upon receipt by Counterparty Parent, be turned over to Dealer in the exact form received by Counterparty Parent (duly indorsed by Counterparty Parent to Dealer, if required), to be applied against the Guaranteed Obligations.

 

(f)           Delivery of Shares.  Each of Counterparty, Counterparty Parent and Issuer shall not take, or cause to be taken, any action that it reasonably believes would make unavailable at any time on or after the Amendment Date either the exemption pursuant to Section 3(a)(9) of the Securities Act for the delivery to Dealer (or any affiliate designated by Dealer) (whether upon exercise, early termination, cancellation or otherwise) of the Shares or Share Termination Delivery Units, as the case may be, or the safe harbor pursuant to clause (b)(1) under Rule 144 under the Securities Act (including, in particular and without limitation, the availability of clause (d)(3)(ii) thereunder) for subsequent transfers of such Shares or Share Termination Delivery Units, as the case may be, by Dealer (or any such affiliate of Dealer). Each of Counterparty and Counterparty Parent represents and warrants that, as of the Amendment Date, each Share deliverable upon settlement of all or any portion of the Transaction would be (i) a security exchanged by the issuer with its existing security holder exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange (within the meaning of Section 3(a)(9) of the Securities Act) and (ii) a security acquired from the issuer solely in exchange for other securities of the same issuer (within the meaning of Rule 144(d)(3)(ii) under the Securities Act).

 

(g)          Credit Support.  In relation to Counterparty, Counterparty Parent shall be designated as a Credit Support Provider and this Confirmation shall be designated as a Credit Support Document.

 

24

 

Each of Counterparty and Counterparty Parent hereby agrees (a) to check this Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing (in the exact form provided by Dealer) correctly sets forth the terms of the agreement among Dealer, Counterparty and Counterparty Parent with respect to the Transaction (as amended and restated on the Amendment Date), by manually signing this Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and immediately returning an executed copy to Dealer.

 

	
 
    	
 
    	
 
    	
Yours   faithfully,
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Cathleen Burke
    
	
 
    	
 
    	
 
    	
 
    	
Name: Cathleen Burke
    
	
 
    	
 
    	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    	
 
    	
 
    
	
Agreed   and Accepted By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CARDTRONICS, INC.
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Todd Ruden
    	
 
    	
 
    
	
 
    	
Name: Todd Ruden
    	
 
    	
 
    
	
 
    	
Title: Treasurer
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
CARDTRONICS   PLC
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    

 

	
SIGNED by a   duly authorized representative for and on behalf of Cardtronics plc
    	
/s/ E. Brad Conrad
    	
 
    
	
Print name: E. Brad   Conrad
    	
 
    
	
Title: Chief Accounting   Officer
    	
 
    

 

25

 

Annex A

 

For each Component of the Transaction, the Number of Warrants and Expiration Date is set forth below.

 

	
Component Number
    	
 
    	
Number of Warrants
    	
 
    	
Expiration Date
    
	
1
    	
 
    	
7,959
    	
 
    	
Mon-1-Mar-21
    
	
2
    	
 
    	
7,959
    	
 
    	
Tue-2-Mar-21
    
	
3
    	
 
    	
7,959
    	
 
    	
Wed-3-Mar-21
    
	
4
    	
 
    	
7,959
    	
 
    	
Thu-4-Mar-21
    
	
5
    	
 
    	
7,959
    	
 
    	
Fri-5-Mar-21
    
	
6
    	
 
    	
7,959
    	
 
    	
Mon-8-Mar-21
    
	
7
    	
 
    	
7,959
    	
 
    	
Tue-9-Mar-21
    
	
8
    	
 
    	
7,959
    	
 
    	
Wed-10-Mar-21
    
	
9
    	
 
    	
7,959
    	
 
    	
Thu-11-Mar-21
    
	
10
    	
 
    	
7,959
    	
 
    	
Fri-12-Mar-21
    
	
11
    	
 
    	
7,959
    	
 
    	
Mon-15-Mar-21
    
	
12
    	
 
    	
7,959
    	
 
    	
Tue-16-Mar-21
    
	
13
    	
 
    	
7,959
    	
 
    	
Wed-17-Mar-21
    
	
14
    	
 
    	
7,959
    	
 
    	
Thu-18-Mar-21
    
	
15
    	
 
    	
7,959
    	
 
    	
Fri-19-Mar-21
    
	
16
    	
 
    	
7,959
    	
 
    	
Mon-22-Mar-21
    
	
17
    	
 
    	
7,959
    	
 
    	
Tue-23-Mar-21
    
	
18
    	
 
    	
7,959
    	
 
    	
Wed-24-Mar-21
    
	
19
    	
 
    	
7,959
    	
 
    	
Thu-25-Mar-21
    
	
20
    	
 
    	
7,959
    	
 
    	
Fri-26-Mar-21
    
	
21
    	
 
    	
7,959
    	
 
    	
Mon-29-Mar-21
    
	
22
    	
 
    	
7,959
    	
 
    	
Tue-30-Mar-21
    
	
23
    	
 
    	
7,959
    	
 
    	
Wed-31-Mar-21
    
	
24
    	
 
    	
7,959
    	
 
    	
Thu-1-Apr-21
    
	
25
    	
 
    	
7,959
    	
 
    	
Mon-5-Apr-21
    
	
26
    	
 
    	
7,959
    	
 
    	
Tue-6-Apr-21
    
	
27
    	
 
    	
7,959
    	
 
    	
Wed-7-Apr-21
    
	
28
    	
 
    	
7,959
    	
 
    	
Thu-8-Apr-21
    
	
29
    	
 
    	
7,959
    	
 
    	
Fri-9-Apr-21
    
	
30
    	
 
    	
7,959
    	
 
    	
Mon-12-Apr-21
    
	
31
    	
 
    	
7,959
    	
 
    	
Tue-13-Apr-21
    
	
32
    	
 
    	
7,959
    	
 
    	
Wed-14-Apr-21
    
	
33
    	
 
    	
7,959
    	
 
    	
Thu-15-Apr-21
    
	
34
    	
 
    	
7,959
    	
 
    	
Fri-16-Apr-21
    
	
35
    	
 
    	
7,959
    	
 
    	
Mon-19-Apr-21
    
	
36
    	
 
    	
7,959
    	
 
    	
Tue-20-Apr-21
    
	
37
    	
 
    	
7,959
    	
 
    	
Wed-21-Apr-21
    
	
38
    	
 
    	
7,959
    	
 
    	
Thu-22-Apr-21
    
	
39
    	
 
    	
7,959
    	
 
    	
Fri-23-Apr-21
    
	
40
    	
 
    	
7,959
    	
 
    	
Mon-26-Apr-21
    
	
41
    	
 
    	
7,959
    	
 
    	
Tue-27-Apr-21
    
	
42
    	
 
    	
7,959
    	
 
    	
Wed-28-Apr-21
    
	
43
    	
 
    	
7,959
    	
 
    	
Thu-29-Apr-21
    
	
44
    	
 
    	
7,959
    	
 
    	
Fri-30-Apr-21
    
	
45
    	
 
    	
7,959
    	
 
    	
Mon-3-May-21
    

 

26

 

	
46
    	
 
    	
7,959
    	
 
    	
Tue-4-May-21
    
	
47
    	
 
    	
7,959
    	
 
    	
Wed-5-May-21
    
	
48
    	
 
    	
7,959
    	
 
    	
Thu-6-May-21
    
	
49
    	
 
    	
7,959
    	
 
    	
Fri-7-May-21
    
	
50
    	
 
    	
7,959
    	
 
    	
Mon-10-May-21
    
	
51
    	
 
    	
7,959
    	
 
    	
Tue-11-May-21
    
	
52
    	
 
    	
7,959
    	
 
    	
Wed-12-May-21
    
	
53
    	
 
    	
7,959
    	
 
    	
Thu-13-May-21
    
	
54
    	
 
    	
7,959
    	
 
    	
Fri-14-May-21
    
	
55
    	
 
    	
7,959
    	
 
    	
Mon-17-May-21
    
	
56
    	
 
    	
7,959
    	
 
    	
Tue-18-May-21
    
	
57
    	
 
    	
7,959
    	
 
    	
Wed-19-May-21
    
	
58
    	
 
    	
7,959
    	
 
    	
Thu-20-May-21
    
	
59
    	
 
    	
7,959
    	
 
    	
Fri-21-May-21
    
	
60
    	
 
    	
7,959
    	
 
    	
Mon-24-May-21
    
	
61
    	
 
    	
7,959
    	
 
    	
Tue-25-May-21
    
	
62
    	
 
    	
7,959
    	
 
    	
Wed-26-May-21
    
	
63
    	
 
    	
7,959
    	
 
    	
Thu-27-May-21
    
	
64
    	
 
    	
7,959
    	
 
    	
Fri-28-May-21
    
	
65
    	
 
    	
7,959
    	
 
    	
Tue-1-Jun-21
    
	
66
    	
 
    	
7,959
    	
 
    	
Wed-2-Jun-21
    
	
67
    	
 
    	
7,959
    	
 
    	
Thu-3-Jun-21
    
	
68
    	
 
    	
7,959
    	
 
    	
Fri-4-Jun-21
    
	
69
    	
 
    	
7,959
    	
 
    	
Mon-7-Jun-21
    
	
70
    	
 
    	
7,959
    	
 
    	
Tue-8-Jun-21
    
	
71
    	
 
    	
7,959
    	
 
    	
Wed-9-Jun-21
    
	
72
    	
 
    	
7,959
    	
 
    	
Thu-10-Jun-21
    
	
73
    	
 
    	
7,959
    	
 
    	
Fri-11-Jun-21
    
	
74
    	
 
    	
7,959
    	
 
    	
Mon-14-Jun-21
    
	
75
    	
 
    	
7,959
    	
 
    	
Tue-15-Jun-21
    
	
76
    	
 
    	
7,959
    	
 
    	
Wed-16-Jun-21
    
	
77
    	
 
    	
7,959
    	
 
    	
Thu-17-Jun-21
    
	
78
    	
 
    	
7,959
    	
 
    	
Fri-18-Jun-21
    
	
79
    	
 
    	
7,959
    	
 
    	
Mon-21-Jun-21
    
	
80
    	
 
    	
7,959
    	
 
    	
Tue-22-Jun-21
    
	
81
    	
 
    	
7,959
    	
 
    	
Wed-23-Jun-21
    
	
82
    	
 
    	
7,959
    	
 
    	
Thu-24-Jun-21
    
	
83
    	
 
    	
7,959
    	
 
    	
Fri-25-Jun-21
    
	
84
    	
 
    	
7,959
    	
 
    	
Mon-28-Jun-21
    
	
85
    	
 
    	
7,959
    	
 
    	
Tue-29-Jun-21
    
	
86
    	
 
    	
7,959
    	
 
    	
Wed-30-Jun-21
    
	
87
    	
 
    	
7,959
    	
 
    	
Thu-1-Jul-21
    
	
88
    	
 
    	
7,959
    	
 
    	
Fri-2-Jul-21
    
	
89
    	
 
    	
7,959
    	
 
    	
Tue-6-Jul-21
    
	
90
    	
 
    	
7,959
    	
 
    	
Wed-7-Jul-21
    
	
91
    	
 
    	
7,959
    	
 
    	
Thu-8-Jul-21
    
	
92
    	
 
    	
7,959
    	
 
    	
Fri-9-Jul-21
    
	
93
    	
 
    	
7,959
    	
 
    	
Mon-12-Jul-21
    
	
94
    	
 
    	
7,959
    	
 
    	
Tue-13-Jul-21
    
	
95
    	
 
    	
7,959
    	
 
    	
Wed-14-Jul-21
    

 

27

 

	
96
    	
 
    	
7,959
    	
 
    	
Thu-15-Jul-21
    
	
97
    	
 
    	
7,959
    	
 
    	
Fri-16-Jul-21
    
	
98
    	
 
    	
7,959
    	
 
    	
Mon-19-Jul-21
    
	
99
    	
 
    	
7,959
    	
 
    	
Tue-20-Jul-21
    
	
100
    	
 
    	
7,959
    	
 
    	
Wed-21-Jul-21
    
	
101
    	
 
    	
7,959
    	
 
    	
Thu-22-Jul-21
    
	
102
    	
 
    	
7,959
    	
 
    	
Fri-23-Jul-21
    
	
103
    	
 
    	
7,959
    	
 
    	
Mon-26-Jul-21
    
	
104
    	
 
    	
7,959
    	
 
    	
Tue-27-Jul-21
    
	
105
    	
 
    	
7,959
    	
 
    	
Wed-28-Jul-21
    
	
106
    	
 
    	
7,959
    	
 
    	
Thu-29-Jul-21
    
	
107
    	
 
    	
7,959
    	
 
    	
Fri-30-Jul-21
    
	
108
    	
 
    	
7,959
    	
 
    	
Mon-2-Aug-21
    
	
109
    	
 
    	
7,959
    	
 
    	
Tue-3-Aug-21
    
	
110
    	
 
    	
7,959
    	
 
    	
Wed-4-Aug-21
    
	
111
    	
 
    	
7,959
    	
 
    	
Thu-5-Aug-21
    
	
112
    	
 
    	
7,959
    	
 
    	
Fri-6-Aug-21
    
	
113
    	
 
    	
7,959
    	
 
    	
Mon-9-Aug-21
    
	
114
    	
 
    	
7,959
    	
 
    	
Tue-10-Aug-21
    
	
115
    	
 
    	
7,959
    	
 
    	
Wed-11-Aug-21
    
	
116
    	
 
    	
7,959
    	
 
    	
Thu-12-Aug-21
    
	
117
    	
 
    	
7,959
    	
 
    	
Fri-13-Aug-21
    
	
118
    	
 
    	
7,959
    	
 
    	
Mon-16-Aug-21
    
	
119
    	
 
    	
7,959
    	
 
    	
Tue-17-Aug-21
    
	
120
    	
 
    	
7,989
    	
 
    	
Wed-18-Aug-21
    

 

	
Strike Price:
    	
USD 73.2900
    
	
 
    	
 
    
	
Premium:
    	
USD 7,045,000.00
    
	
 
    	
 
    
	
Maximum Stock Loan   Rate:
    	
200 basis points
    
	
 
    	
 
    
	
Initial Stock Loan   Rate:
    	
25 basis points
    
	
 
    	
 
    
	
Capped Number of   Shares:
    	
1,910,220
    
	
 
    	
 
    
	
Final Disruption Date:
    	
August 30, 2021
    

 

28Exhibit 10.7

 

EXECUTION VERSION

 

 

October 26, 2016

 

To:                                                                             Cardtronics, Inc.

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Edward H. West and Todd Ruden

 

Cardtronics plc

3250 Briarpark Drive

Suite 400

Houston, Texas 77042

Attn: Edward H. West and Todd Ruden

 

From:                                                               Bank of America, N.A.

c/o Merrill Lynch, Pierce, Fenner & Smith Incorporated

One Bryant Park

New York, NY 10036

Attn: Gary Rosenblum
 gary.rosenblum@bankofamerica.com

Telephone: 646 855-3684

Facsimile: 646 834-9809

 

Re:                                                                             Additional Convertible Bond Hedge Transaction — Amended and Restated

(Transaction Reference Number: 138535751)

 

Ladies and Gentlemen:

 

The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced transaction entered into on the Trade Date specified below (the “Transaction”) between Bank of America, N.A. (“Dealer”) and Cardtronics, Inc. (“Counterparty”), as amended and restated hereby as of October 26, 2016 (the “Amendment Date”).  This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below.

 

Reference is made to the merger transaction (the “Redomicile Merger”) pursuant to which Counterparty became an indirect, wholly-owned subsidiary of Cardtronics plc, a public limited company incorporated under the laws of England and Wales (“Counterparty Parent”) on July 1, 2016 (the “Redomicile Merger Date”).  In connection with the Redomicile Merger, Counterparty and Dealer desire to amend and restate the terms and conditions of the “Confirmation” in respect of the Transaction, as entered into between Dealer and Counterparty as of November 21, 2013 and in effect immediately prior to the Amendment Date (the “Original Confirmation”) to provide certain representations, warranties and agreements of Counterparty Parent and make such other amendments and modifications as further set forth below. On the Amendment Date, the Original Confirmation shall be replaced in its entirety by this Confirmation, and the Original Confirmation shall thereafter be of no further force and effect and shall be deemed replaced and superseded in all respects by this Confirmation (for the avoidance of doubt, except to evidence the obligations of Counterparty with respect to representations and warranties previously made by Counterparty under the Original Confirmation and the obligations of Counterparty (whether or not contingent) with respect to covenants previously required to have been performed by Counterparty under the Original Confirmation, which obligations are in all respects continuing and in full force and effect and are reaffirmed hereby).  Accordingly, in consideration of the mutual representations, warranties and agreements contained herein and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereby agree as set forth herein.

 

 

1.     This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA Definitions (including the Annex thereto) (the “2006 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the “Definitions”), in each case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”).  In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity Definitions will govern.  Certain defined terms used herein have the meanings assigned to them in the Indenture dated as of November 25, 2013 between Counterparty and Wells Fargo Bank, National Association as trustee (the “Trustee”) (the “Original Indenture”), as amended and supplemented as of July 1, 2016 pursuant to that certain First Supplemental Indenture among Counterparty, Counterparty Parent and the Trustee (the “First Supplemental Indenture”, and the Original Indenture as so supplemented, the “Indenture”) relating to the USD 250,000,000.00 principal amount of 1.00% convertible securities due 2020 and the additional USD 37,500,000.00 principal amount of 1.00% convertible securities due 2020 issued pursuant to the over-allotment option exercised on November 21, 2013 (the “Convertible Securities”).  In the event of any inconsistency between the terms defined in the Indenture and this Confirmation, this Confirmation shall govern.  For the avoidance of doubt, references herein to sections of the Original Indenture are based on the draft of the Indenture most recently reviewed by the parties at the time of execution of the Original Confirmation. The parties further acknowledge that references to the Original Indenture or First Supplemental Indenture herein are references to the Original Indenture or First Supplemental Indenture, as applicable, as in effect on the respective dates of their execution and if the Original Indenture or First Supplemental Indenture, as applicable, are amended following their respective dates of execution, any such amendment (other than any amendment pursuant to Section 10.01(b) of the Indenture that, as determined by the Calculation Agent, conforms the Indenture to the description of the Convertible Securities in the preliminary offering memorandum related to the Convertible Securities, as supplemented by the pricing term sheet related to the Convertible Securities) will be disregarded for purposes of this Confirmation (other than as provided in Section 8(a) below) unless the parties agree otherwise in writing.  In addition, and without limitation of the foregoing, Counterparty hereby confirms that, other than the First Supplemental Indenture, the Indenture has not been amended, supplemented or otherwise modified since the Trade Date.

 

This Confirmation evidences a complete and binding agreement among Dealer, Counterparty, and for the limited purpose of certain representations, warranties and agreements, Counterparty Parent as to the terms of the Transaction to which this Confirmation relates.  This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an agreement in such form (without any Schedule but with the elections set forth in this Confirmation and the election that (I) the “Breach of Agreement; Repudiation of Agreement” provisions of Section 5(a)(ii) of the Agreement and the “Misrepresentation” provisions of Section 5(a)(iv) of the Agreement shall apply to Counterparty but with references to the “party” being deemed to be references to Counterparty and Counterparty Parent and (II) the “Cross-Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Dealer with a “Threshold Amount” of 3% of the stockholders’ equity of Dealer’s ultimate parent company (“Dealer Parent”) and to Counterparty with a “Threshold Amount” of USD 30 million; provided that (A) the words “, or becoming capable at such time of being declared,” shall be deleted from such Section 5(a)(vi), (B) the term “Specified Indebtedness” shall have the meaning specified in Section 14 of the Agreement, except that, with respect to Dealer, such term shall not include obligations in respect of deposits received in the ordinary course of a party’s banking business and (C) the following language shall be added to the end of such Section 5(a)(vi): “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely by error or omission of an administrative or operational nature; (ii) funds were available to enable the party to make the payment when due; and (iii) the payment is made within two Local Business Days of such party’s receipt of written notice of its failure to pay.”).  For the avoidance of doubt, the Transaction shall be the only transaction under the Agreement.

 

All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein.  In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern.

 

2.     The Transaction constitutes a Share Option Transaction for purposes of the Equity Definitions.  The terms of the particular Transaction to which this Confirmation relates are as follows:

 

General Terms:

 

	
Trade Date:
    	
 
    	
November 21, 2013
    

 

2

 

	
Option Type:
    	
 
    	
Call
    
	
 
    	
 
    	
 
    
	
Seller:
    	
 
    	
Dealer
    
	
 
    	
 
    	
 
    
	
Buyer:
    	
 
    	
Counterparty
    
	
 
    	
 
    	
 
    
	
Shares:
    	
 
    	
(i) Prior to the Redomicile Merger Date, the   common stock of Counterparty, par value USD 0.0001 per share (Ticker Symbol:   “CATM”); and (ii) on or after the Redomicile Merger Date, the   Class A ordinary shares of Counterparty Parent, nominal value USD0.01   per share (Ticker Symbol: “CATM”).
    
	
 
    	
 
    	
 
    
	
Number of Options:
    	
 
    	
The number of Additional Securities in denominations   of USD1,000 principal amount purchased (in the aggregate among the Initial   Purchasers (as defined in the Purchase Agreement)) upon exercise by Merrill   Lynch, Pierce, Fenner & Smith Incorporated, as representative of the   Initial Purchasers (as defined in the Purchase Agreement), of their option   pursuant to Section 2(a)(ii) of the Purchase Agreement (as defined   below).
    
	
 
    	
 
    	
 
    
	
Number of Shares:
    	
 
    	
As of any date, the product of   (i) the Number of Options, (ii) the Conversion Rate and (iii) the Applicable Percentage.
    
	
 
    	
 
    	
 
    
	
Conversion Rate:
    	
 
    	
As of any date, the “Conversion Rate” (as defined in   the Indenture) as of such date, but without regard to any adjustments to the   “Conversion Rate” pursuant to Section 11.05(k) or 11.07 of the   Indenture.
    
	
 
    	
 
    	
 
    
	
Applicable Percentage:
    	
 
    	
30.00%
    
	
 
    	
 
    	
 
    
	
Premium:
    	
 
    	
As provided in Annex A to this Confirmation.
    
	
 
    	
 
    	
 
    
	
Premium Payment Date:
    	
 
    	
November 25, 2013, subject to   Section 8(n) below.
    
	
 
    	
 
    	
 
    
	
Exchange:
    	
 
    	
NASDAQ Global Select Market
    
	
 
    	
 
    	
 
    
	
Related Exchange:
    	
 
    	
All Exchanges
    
	
 
    	
 
    	
 
    
	
Procedures for Exercise:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Exercise Dates:
    	
 
    	
Each Conversion Date.
    
	
 
    	
 
    	
 
    
	
Conversion Date:
    	
 
    	
Each “Conversion Date”, as defined in the Indenture,   occurring during the period from and excluding the Trade Date to and   including the Expiration Date, for Convertible Securities, each in   denominations of USD1,000 principal amount, that are submitted for conversion   on such Conversion Date in accordance with the terms of the Indenture   (excluding Convertible Securities (i) with respect to which Counterparty   has elected the “Exchange in Lieu of Conversion” option pursuant to   Section 3.10(a) of the Indenture, and (ii) that have been   accepted by the designated financial institution pursuant to Section 3.10(b) of   the Indenture, except to the extent that Counterparty notifies Dealer, by the   applicable deadline set forth under “Notice of Exercise” below, that   (x) such financial institution fails to pay or deliver, as the case may   be, any consideration due upon conversion of such Convertible Securities, or   (y) such Convertible Securities are subsequently resubmitted to   Counterparty for conversion in accordance with the terms of the Indenture)   but are not “Relevant Convertible Securities” under, and as defined in, the confirmation   between the parties hereto regarding the Base Convertible Bond Hedge   Transaction — Amended and Restated dated October 26, 2016 (the “Base Convertible Bond Hedge Transaction Confirmation”)   (such
    

 

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Convertible Securities, each in denominations of   USD1,000 principal amount, the “Relevant Convertible   Securities” for such Conversion Date). For the purposes of   determining whether any Convertible Securities will be Relevant Convertible   Securities hereunder or under the Base Convertible Bond Hedge Transaction   Confirmation, Convertible Securities that are converted pursuant to the   Indenture shall be allocated first to the Base Convertible Bond Hedge   Transaction Confirmation until all Options thereunder are exercised or   terminated.
    
	
 
    	
 
    	
 
    
	
Required Exercise on Conversion   Dates:
    	
 
    	
On each Conversion Date, a number of Options equal   to the number of Relevant Convertible Securities for such Conversion Date in   denominations of USD1,000 principal amount shall be automatically exercised.
    
	
 
    	
 
    	
 
    
	
Expiration Date:
    	
 
    	
The second “Scheduled Trading Day” immediately   preceding the “Maturity Date” (each as defined in the Indenture).
    
	
 
    	
 
    	
 
    
	
Automatic Exercise:
    	
 
    	
As provided above under “Required Exercise on   Conversion Dates”.
    
	
 
    	
 
    	
 
    
	
Exercise Notice   Deadline:
    	
 
    	
In respect of any exercise of Options hereunder on   any Conversion Date, the “Scheduled Trading Day” prior to the scheduled first   “VWAP Trading Day” of the “Observation Period” (each as defined in the Indenture,   but, in the case of any such Observation Period, as modified by the provision   set forth opposite the caption “Convertible Security Settlement Method”)   relating to the Convertible Securities converted on the Conversion Date   occurring on the relevant Exercise Date; provided that   in the case of any exercise of Options hereunder in connection with the   conversion of any Relevant Convertible Securities on any Conversion Date   occurring during the period starting on and including June 4, 2020 and   ending on and including the second “Scheduled Trading Day” immediately   preceding the “Maturity Date” (each as defined in the Indenture) (the “Final Conversion Period”), the Exercise Notice Deadline   shall be noon, New York City time, on the “Scheduled Trading Day” (as defined   in the Indenture) immediately preceding the “Maturity Date” (as defined in   the Indenture).
    
	
 
    	
 
    	
 
    
	
Notice of Exercise:
    	
 
    	
Notwithstanding anything to the contrary in the   Equity Definitions, Dealer shall have no obligation to make any payment or delivery   in respect of any exercise of Options hereunder unless Counterparty notifies   Dealer in writing prior to 4:00 PM, New York City time, on the Exercise   Notice Deadline in respect of such exercise of (i) the number of Options   being exercised on the relevant Exercise Date (including, if applicable,   whether all or any portion of such exercise relates to the conversion of   Relevant Convertible Securities in connection with which holders thereof are   entitled to receive additional Shares and/or cash pursuant to the adjustment   to the Conversion Rate set forth in Section 11.07 of the Indenture),   (ii) the scheduled settlement date under the Indenture for the   Convertible Securities converted on the Conversion Date corresponding to such   Exercise Date, (iii) whether such Relevant Convertible Securities will   be settled by Counterparty by delivery of cash, Shares or a combination of   cash and Shares and, if such a combination, the “Specified Dollar Amount” (as   defined in the Indenture), (iv) the first “Scheduled Trading Day” of the
    

 

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“Observation Period” (as defined in the Indenture)   and (v) if Shares would be deliverable by Dealer hereunder, the Designee   (as defined below) to which such Shares shall be delivered; provided that in the case of any exercise of Options   hereunder in connection with the conversion of any Relevant Convertible   Securities on any Conversion Date occurring during the Final Conversion   Period, the contents of such notice shall be as set forth in clause   (i) and (v) above; provided, further,   that any “Notice of Exercise” delivered to Dealer pursuant to the Base   Convertible Bond Hedge Transaction Confirmation shall deemed to be a Notice   of Exercise pursuant to this Confirmation and the terms of such Notice of   Exercise shall apply, mutatis mutandis,   to this Confirmation. Counterparty acknowledges its responsibilities under   applicable securities laws, and in particular Section 9 and   Section 10(b) of the Exchange Act (as defined below) and the   rules and regulations thereunder, in respect of any election of a   settlement method with respect to the Convertible Securities. For the   avoidance of doubt, if Counterparty fails to give such notice when due in   respect of any exercise of Options hereunder, Dealer’s obligation to make any   payment or delivery in respect of such exercise shall be permanently   extinguished, and late notice shall not cure such failure; provided that notwithstanding the foregoing, such notice   (and the related exercise of Options) shall be effective if given after the   Exercise Notice Deadline, but (x) in the case of any Options relating to   Convertible Securities (A) with respect to which Counterparty has   elected the “Exchange in Lieu of Conversion” option pursuant to   Section 3.10(a) of the Indenture, and (B) that have been   accepted by the designated financial institution pursuant to   Section 3.10(b) of the Indenture, promptly following the time   Counterparty first knows, or reasonably should know, of the occurrence of the   event or condition with respect to such financial institution that would give   rise to Counterparty’s obligation to pay or deliver, as the case may be, the   relevant conversion consideration for such Convertible Securities pursuant to   the third sentence of Section 3.10(b) of the Indenture, in which   case the Delivery Obligation shall be calculated as if the relevant   “Observation Period” (as defined in the Indenture but as modified by the   provision set forth opposite the caption “Convertible Security Settlement   Method”) commenced on (1) if Dealer receives such notice on or after   June 4, 2020, the first “VWAP Trading Day” of the “Observation Period”   (as defined in the Indenture but as modified by the provision set forth   opposite the caption “Convertible Security Settlement Method”) used to   calculate the Delivery Obligation for conversions occurring during the Final   Conversion Period or (2) otherwise, the third “Scheduled Trading Day”   (as defined in the Indenture) immediately following the date Dealer receives   such notice, or (y) otherwise, prior to 4:00 PM, New York City time, on   the fifth Exchange Business Day following the Exercise Notice Deadline, and   in either of the cases described in clause (x)(1) or (y) of this   sentence, the Calculation Agent shall have the right to adjust the Delivery   Obligation as appropriate to reflect the additional costs (including, but not   limited to, hedging mismatches and market losses) and expenses incurred by   Dealer in connection with its hedging activities (including the unwinding of   any hedge position) as a result of Dealer not having received such notice on   or prior to the Exercise
    

 

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Notice Deadline.
    
	
 
    	
 
    	
 
    
	
Notice of Convertible   Security Settlement Method:
    	
 
    	
Counterparty shall notify Dealer in writing before   4:00 P.M. (New York City time) on June 4, 2020 of the irrevocable   election by Counterparty, in accordance with   Section 11.03(a)(ii)(A) of the Indenture, of the settlement method   and, if applicable, the “Specified Dollar Amount” (as defined in the   Indenture) applicable to Relevant Convertible Securities with a Conversion   Date occurring on or after June 4, 2020.
    
	
 
    	
 
    	
 
    
	
Dealer’s Telephone   Number and Telex and/or Facsimile Number and Contact Details for purpose of Giving   Notice:
    	
 
    	
To be provided by Dealer.
    
	
 
    	
 
    	
 
    
	
Designee:
    	
 
    	
Notwithstanding anything to the contrary in this   Confirmation, Counterparty shall not be treated as having validly given   either a Notice of Exercise or a Notice of Share Termination where Dealer is   obligated to deliver Shares, unless Counterparty has validly designated in   such notice a designee (“Designee”) to   receive such Shares.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
For the designation of a Designee to be valid it   must satisfy all of the following conditions:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(i) the Designee must be one or a combination   of the following:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(A) a trustee of a   trust established for the benefit of the Holders (as defined in the   Indenture) under the laws of England and Wales;
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(B) a trustee of   an employee benefit trust; or
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(C) such other   designee that is eligible to receive Shares under the laws of England and   Wales;
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(for the purposes of (A) and (B), the trustee   of a trust or employee benefit trust, including the EBT (as defined beloow),   may be Counterparty, acting as trustee, Counterparty Parent or any other   subsidiary of Counterparty Parent acting as trustee or any third party   trustee, and for purposes of (C), the designee may be Counterparty or   Counterparty Parent), with respect to whom Dealer has, on or prior to such   designation, completed all necessary “know your customer” or other similar   checks under all applicable laws and regulations in relation to such Designee   as reasonably determined by Dealer;
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(ii) in the case of a Designee that is a   trustee, Counterparty must have delivered (or cause to have been delivered)   to Dealer, on or prior to such designation, the executed trust settlement   deed establishing the trust (substantially in the form agreed with Dealer);
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(iii) Counterparty must have delivered (or   cause to have been delivered) on or prior to such designation, the account   instructions necessary for Dealer to facilitate delivery of the Shares to the   Designee; and
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(iv) in the case of a Designee that is a   trustee, Counterparty must have delivered (or cause to have been delivered)   to Dealer on or immediately prior to such designation an opinion from its   legal
    

 

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counsel (substantially in the form agreed with   Dealer and consistent with the legal opinions delivered in relation to the   EBT and Counterparty’s status as a valid Designee) confirming the trust has   been properly constituted, the Designee has been duly appointed as the   trustee and the Designee in its capacity as trustee has the authority and   capacity to accept delivery of Shares; provided that   with respect to a Designee which is Cardtronics, Inc., acting as trustee   of the EBT, Counterparty may alternatively deliver (or cause to have been   delivered) to Dealer on or immediately prior to such designation an opinion   from its legal counsel (substantially in the form agreed with Dealer)   confirming that the opinion previously delivered on the Amendment Date is still   true, valid and correct.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Dealer acknowledges and agrees that all of the   conditions set out in (i)-(iii) of this definition of “Designee” have   been met in relation to the establishment of the Cardtronics Inc. Employee   Benefit Trust (the “EBT”) for which   Counterparty is the trustee.
    
	
 
    	
 
    	
 
    
	
Settlement Terms:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Settlement Date:
    	
 
    	
In respect of an Exercise Date occurring on a   Conversion Date, the settlement date for the cash and Shares (if any) to be   delivered in respect of the Relevant Convertible Securities converted on such   Conversion Date pursuant to Section 11.03(a)(iv) of the Indenture; provided that the Settlement Date will not be prior to the   latest of (i) the date one Settlement Cycle following the final day of   the relevant “Observation Period”, as defined in the Indenture (as modified   by the provision set forth opposite the caption “Convertible Security   Settlement Method”), (ii) the Exchange Business Day immediately   following the date on which Counterparty gives notice to Dealer of such   Settlement Date prior to 4:00 PM, New York City time or (iii) the   Exchange Business Day immediately following the date Counterparty provides   the Notice of Delivery Obligation prior to 4:00 PM, New York City time.
    
	
 
    	
 
    	
 
    
	
Delivery Obligation:
    	
 
    	
In lieu of the obligations set forth in Sections 8.1   and 9.1 of the Equity Definitions, and subject to “Notice of Exercise” above,   in respect of an Exercise Date occurring on a Conversion Date, Dealer will   deliver on the related Settlement Date, a number of Shares and/or amount of   cash in USD equal to the product of (i) the Applicable Percentage and (ii) (x) the   aggregate number of Shares, if any, that Counterparty would be obligated to   deliver to the holder(s) of the Relevant Convertible Securities   converted on such Conversion Date pursuant to   Section 11.03(a)(iv) of the Indenture and/or (y) the aggregate   amount of cash, if any, in excess of USD1,000 per Convertible Security (in   denominations of USD1,000) that Counterparty would be obligated to deliver to   holder(s) pursuant to Section 11.03(a)(iv) of the Indenture   (except that such aggregate number of Shares shall be determined without   taking into consideration any rounding pursuant to   Section 11.03(a)(vi) of the Indenture and shall be rounded down to   the nearest whole number) and cash in lieu of fractional Shares, if any,   resulting from such rounding, if Counterparty had elected to satisfy its   conversion obligation in respect of such Relevant Convertible Securities by   the Convertible Security Settlement Method, notwithstanding any different   actual election by Counterparty with
    

 

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respect to the settlement of such Convertible   Securities (such product, the “Convertible Obligation”); provided that such obligation shall be determined   excluding any Shares and/or cash that Counterparty is obligated to deliver to   holder(s) of the Relevant Convertible Securities as a result of any   adjustments to the Conversion Rate pursuant to Sections 11.05(k) or 11.07   of the Indenture (and, for the avoidance of doubt, the Delivery Obligation   shall not include any interest payment on the Relevant Convertible Securities   that Counterparty is (or would have been) obligated to deliver to   holder(s) of the Relevant Convertible Securities for such Conversion   Date); and provided further that if such   exercise relates to the conversion of Relevant Convertible Securities in   connection with which holders thereof are entitled to receive additional   Shares and/or cash pursuant to the adjustment to the Conversion Rate set   forth in Section 11.07 of the Indenture, then, notwithstanding the   foregoing, the Delivery Obligation shall include the Applicable Percentage of   such additional Shares and/or cash, except that the Delivery Obligation shall   be capped so that the value of the Delivery Obligation per Option (with the   value of any Shares included in the Delivery Obligation determined by the   Calculation Agent using the VWAP Price (as defined below) on the Exchange   Business Day immediately preceding the related Settlement Date does not   exceed the amount as determined by the Calculation Agent that would be   payable by Dealer pursuant to Section 6 of the Agreement if such   Conversion Date were an Early Termination Date resulting from an Additional   Termination Event with respect to which the Transaction (except that, for   purposes of determining such amount (x) the Number of Options shall be   deemed to be equal to the number of Options exercised on such Exercise Date   and (y) such amount payable will be determined as if Section 11.07   of the Indenture were deleted) was the sole Affected Transaction and   Counterparty was the sole Affected Party (determined without regard to   Section 8(b) of this Confirmation). Notwithstanding the foregoing,   and in addition to the cap described in the further proviso to the preceding   sentence, in all events the Delivery Obligation shall be capped so that the   value of the Delivery Obligation does not exceed the value of the Convertible   Obligation (with the Convertible Obligation determined based on the actual   settlement method elected by Counterparty with respect to such Relevant   Convertible Securities instead of the Convertible Security Settlement Method   and with the value of any Shares included in either the Delivery Obligation   or such Convertible Obligation determined by the Calculation Agent using the   VWAP Price on the Exchange Business Day immediately preceding the related   Settlement Date).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Dealer shall deliver the Delivery Obligation to   Counterparty; provided that if Dealer is   obligated to deliver Shares to Counterparty, such Shares shall be delivered   only to Designee(s) of Counterparty set forth in the applicable notice.
    
	
 
    	
 
    	
 
    
	
Convertible Security   Settlement Method:
    	
 
    	
For any Relevant Convertible Securities, if Counterparty   has notified Dealer in the related Notice of Exercise (or in the Notice of   Convertible Security Settlement Method, as the case may be) that it has   elected to satisfy its conversion obligation in respect of such Relevant   Convertible Securities in cash or in a combination of cash and Shares in   accordance with Section 11.03(a) of the
    

 

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Indenture (a “Cash Election”)   with a “Specified Dollar Amount” (as defined in the Indenture) of at least   USD1,000, the Convertible Security Settlement Method shall be the settlement method   actually so elected by Counterparty in respect of such Relevant Convertible   Securities; otherwise, (i) the Convertible Security Settlement Method   shall assume Counterparty made a Cash Election with respect to such Relevant   Convertible Securities with a “Specified Dollar Amount” (as defined in the   Indenture) of USD1,000 per Relevant Convertible Security and (ii) the   Delivery Obligation shall be calculated as if the relevant “Observation   Period” (as defined in the Indenture) pursuant to Section 11.03(a)(iv)(C) of   the Indenture consisted of 120 “VWAP Trading Days” (as defined in the   Indenture) commencing on (x) the third “Scheduled Trading Day” (as   defined in the Indenture) after the Conversion Date for conversions occurring   prior to the Final Conversion Period or (y) the 122nd “Scheduled Trading   Day” prior to the “Maturity Date” (each as defined in the Indenture) for   conversions occurring during the Final Conversion Period.
    
	
 
    	
 
    	
 
    
	
Notice of Delivery   Obligation:
    	
 
    	
No later than the “Scheduled Trading Day” (as   defined in the Indenture) immediately following the last day of the relevant   “Observation Period”, as defined in the Indenture (as modified by the   provision set forth opposite the caption “Convertible Security Settlement   Method”), Counterparty shall give Dealer notice of the final number of Shares   and/or cash comprising the Convertible Obligation (determined as though the   words “the Applicable Percentage” in clause (i) of the definition   thereof were deleted and replaced with the word “one”); provided that,   with respect to any Exercise Date occurring during the Final Conversion   Period, Counterparty may provide Dealer with a single notice of an aggregate   number of Shares and/or cash comprising the Convertible Obligations   (determined as though the words “the Applicable Percentage” in clause   (i) of the definition thereof were deleted and replaced with the word   “one”) for all Exercise Dates occurring in such period (it being understood,   for the avoidance of doubt, that the requirement of Counterparty to deliver   such notice shall not limit Counterparty’s obligations with respect to Notice   of Exercise or Notice of Convertible Security Settlement Method or Dealer’s   obligations with respect to Delivery Obligation, each as set forth above, in   any way).
    
	
 
    	
 
    	
 
    
	
Other Applicable   Provisions:
    	
 
    	
To the extent Dealer is obligated to deliver Shares   hereunder, the provisions of Sections 9.1(c), 9.8, 9.9, 9.10 and 9.11 (except   that the Representation and Agreement contained in Section 9.11 of the   Equity Definitions shall be modified by excluding any representations therein   relating to restrictions, obligations, limitations or requirements under   applicable securities laws arising as a result of the fact that Counterparty   Parent is the issuer of, and/or Counterparty is an affiliate of the issuer   of, the Shares) of the Equity Definitions will be applicable as if “Physical   Settlement” applied to the Transaction.
    
	
 
    	
 
    	
 
    
	
Restricted Certificated   Shares:
    	
 
    	
Notwithstanding anything to the contrary in the   Equity Definitions, Dealer may, in whole or in part, deliver Shares required   to be delivered to the applicable Designee hereunder in certificated form in   lieu of delivery through the Clearance System. With respect to such   certificated Shares, the Representation and Agreement
    

 

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contained in Section 9.11 of the Equity   Definitions shall be modified by deleting the remainder of the provision   after the word “encumbrance” in the fourth line thereof.
    
	
 
    	
 
    	
 
    
	
Share Adjustments:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Method of Adjustment:
    	
 
    	
Notwithstanding Section 11.2 of the Equity   Definitions, upon the occurrence of any event or condition set forth in   Sections 11.05(a) through (e) of the Indenture that the Calculation   Agent determines would result in an adjustment under the Indenture, the Calculation   Agent shall make a corresponding adjustment to the terms relevant to the   exercise, settlement or payment of the Transaction. In addition, the   Calculation Agent shall, to the extent the Calculation Agent determines   practicable in good faith and in its commercially reasonable discretion, make   a corresponding adjustment to the terms relevant to the exercise, settlement   or payment of the Transaction (but without duplication of any adjustment   pursuant to the foregoing sentence) to the extent the Calculation Agent   determines an analogous adjustment would be made pursuant to Sections   11.05(f), 11.05(g) or 11.05(h) of the Indenture; provided that the Calculation Agent may limit or alter any   such adjustment referenced in this sentence so that the fair value of the   Transaction to Dealer is not reduced as a result of such adjustment. Promptly   upon the occurrence of any such event or condition contemplated by Sections   11.05(a) through (e), 11.05(f), 11.05(g) or 11.05(h) of the   Indenture, Counterparty shall notify the Calculation Agent of such event or   condition; and once the adjustments to be made to the terms of the Indenture   and the Convertible Securities in respect of such event or condition have   been determined, Counterparty shall promptly notify the Calculation Agent in   writing of the details of such adjustments. For the avoidance of doubt,   Dealer shall not have any delivery obligation hereunder in respect of any   “Distributed Property” delivered by Counterparty (or its affiliates, as   applicable) pursuant to the second paragraph of   Section 11.05(c)(i) of the Indenture or any payment obligation in   respect of any cash paid by Counterparty (or its affiliates, as applicable)   pursuant to the second paragraph of Section 11.05(d) of the Indenture   (collectively, the “Dilution Adjustment   Fallback Provisions”), and no adjustment shall be made to the   terms of the Transaction on account of any event or condition described in   the Dilution Adjustment Fallback Provisions.
    
	
 
    	
 
    	
 
    
	
Extraordinary Events:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Merger Events:
    	
 
    	
Notwithstanding Section 12.1(b) of the   Equity Definitions, a “Merger Event” means the occurrence of any “Share   Exchange Event” (as defined in the Indenture).
    
	
 
    	
 
    	
 
    
	
Consequences of Merger   Events:
    	
 
    	
Notwithstanding Sections 12.2 and 12.3 of the Equity   Definitions, upon the occurrence of a Merger Event that the Calculation Agent   determines would result in an adjustment under the Indenture, the Calculation   Agent shall make a corresponding adjustment to the terms relevant to the   exercise, settlement or payment of the Transaction; provided that   no adjustment shall be made in respect of any adjustment to the Conversion   Rate pursuant to Sections 11.05(k) or 11.07 of the Indenture; and provided further that if, with respect to a Merger Event   (other than the Redomicile Merger, for which the following shall not apply),   (i) the consideration for
    

 

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the Shares includes (or, at the option of a holder   of Shares, may include) shares of an entity or person that is not a   corporation organized under the laws of the United States, any State thereof   or the District of Columbia, and the Calculation Agent determines, in its   sole discretion, that (A)(x) treating such shares as “Reference   Property” (as defined in the Indenture) or (y) Cancellation and Payment   not applying to the Transaction with respect to such Merger Event, in either   case of clause (x) or clause (y), will have a material adverse effect on   any combination of the following: Dealer’s rights or obligations in respect   of the Transaction, on its hedging activities in respect of the Transaction   or on the costs (including, without limitation, due to any increase in tax   liability, decrease in tax benefit or other adverse effect on its tax   position) of engaging in any of the foregoing, and (B) Dealer cannot   promptly avoid the occurrence of each such material adverse effect by   (I) transferring or assigning Dealer’s rights and obligations under this   Confirmation and the Agreement without Counterparty’s consent pursuant to   Section 8(f) to an affiliate of Dealer that would not suffer any   such material adverse effect or (II) amending the terms of this   Confirmation (whether because amendments would not avoid such occurrence or   because Counterparty fails to agree promptly to such amendments) or   (ii) Counterparty to the Transaction following such Merger Event will   not be either (A) the Issuer or (B) a wholly-owned subsidiary of   the Issuer whose obligations under the Transaction are fully and unconditionally   guaranteed by the Issuer, then, in either case of clauses (i) and (ii),   Dealer may elect (in its sole discretion) for Cancellation and Payment   (Calculation Agent Determination) to apply.
    
	
 
    	
 
    	
 
    
	
Notice of Merger   Consideration:
    	
 
    	
Upon the occurrence of a Merger Event that causes   the Shares to be converted into the right to receive more than a single type   of consideration (determined based in part upon any form of stockholder   election), Counterparty shall reasonably promptly (but, in any event prior to   the effective time of such Merger Event) notify the Calculation Agent of   (i) the weighted average of the types and amounts of consideration   received by the holders of Shares entitled to receive cash, securities or   other property or assets with respect to or in exchange for such Shares in   any Merger Event who affirmatively make such an election and (ii) the   details of the adjustment made under the Indenture in respect of such Merger   Event.
    
	
 
    	
 
    	
 
    
	
Nationalization, Insolvency   or Delisting:
    	
 
    	
Cancellation and Payment (Calculation Agent   Determination); provided that, in addition to   the provisions of Section 12.6(a)(iii) of the Equity Definitions,   it shall also constitute a Delisting if the Shares are not immediately   re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The   NASDAQ Global Select Market or The NASDAQ Global Market (or their respective   successors); if the Shares are immediately re-listed, re-traded or re-quoted   on any such exchange or quotation system, such exchange or quotation system   shall thereafter be deemed to be the Exchange.
    
	
 
    	
 
    	
 
    
	
Additional Disruption   Events:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
(a) Change in Law:
    	
 
    	
Applicable; provided that   Section 12.9(a)(ii) of the Equity Definitions is hereby amended by   (i) adding the words “(including, for the avoidance of doubt and without   limitation, any tax law or
    

 

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the adoption or promulgation of new regulations   authorized or mandated by existing statute)” after the word “regulation” in   the second line thereof, (ii) replacing the phrase “the interpretation”   in the third line thereof with the phrase “, or public announcement of, the   formal or informal interpretation”, (iii) adding the words “or any Hedge   Positions” after the word “Shares” in the clause (X) thereof,   (iv) immediately following the word “Transaction” in clause   (X) thereof, adding the phrase “in the manner contemplated by the   Hedging Party on the Trade Date” and (v) adding the words “, or holding,   acquiring or disposing of Shares or any Hedge Positions relating to,” after   the word “under” in clause (Y) thereof.
    
	
 
    	
 
    	
 
    
	
(b) Failure to Deliver:
    	
 
    	
Not Applicable
    
	
 
    	
 
    	
 
    
	
(c) Insolvency Filing:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
(d) Hedging Disruption:
    	
 
    	
Applicable; provided   that:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(i) Section 12.9(a)(v) of the Equity   Definitions is hereby amended by (a) inserting the following words at   the end of clause (A) thereof: “in the manner contemplated by the   Hedging Party on the Trade Date” and (b) inserting the following two   sentences at the end of such Section:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
“For the avoidance of doubt, the term “equity price   risk” shall be deemed to include, but shall not be limited to, stock price   and volatility risk. And, for the further avoidance of doubt, any such   transactions or assets referred to in phrases (A) or (B) above must   be available on commercially reasonable pricing terms.”; and
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(ii) Section 12.9(b)(iii) of the   Equity Definitions is hereby amended by inserting in the third line thereof,   after the words “to terminate the Transaction”, the words “or a portion of   the Transaction affected by such Hedging Disruption”.
    
	
 
    	
 
    	
 
    
	
(e) Increased Cost of   Hedging:
    	
 
    	
 Applicable.   In addition to, and without limitation of, Section 12.9(a)(vi) of   the Equity Definitions, it will constitute an Increased Cost of Hedging if,   at any time following the Redomicile Merger Date, Dealer reasonably   determines in its good faith judgment that (x) the Redomicile Merger has   had a material adverse effect on Dealer’s rights and obligations under the   Transaction and/or (y) Dealer would incur an increased (as compared with   circumstances existing on the Trade Date) amount of tax, duty, expense or fee   to (1) acquire, establish, re-establish, substitute, maintain, unwind or   dispose of any transaction(s) or asset(s) it deems necessary to   hedge the economic risk of entering into and performing its obligations with   respect to the Transaction, or (2) realize, recover or remit the   proceeds of any such transaction(s) or asset(s) (any such event in   clauses (x) and/or (y) above, a “Redomicile   Merger Event”). Notwithstanding anything to the contrary in   Section 12.9(b)(vi) of the Equity Definitions, in respect of any   Redomicile Merger Event: (i) upon making any election set forth in   clauses (A), (B) or (C) of such Section 12.9(b)(vi), each of   Counterparty and Counterparty Parent shall repeat in writing the   representation set forth in Section 7(a)(i) of this Confirmation as   of the date of such election, (ii) if Dealer determines in its good   faith, commercially reasonable judgment that no Price Adjustment will produce   a commercially reasonably result, Dealer shall so notify Counterparty (in   lieu of any obligation to notify Counterparty of a
    

 

12

 

	
 
    	
 
    	
Price Adjustment under such   Section 12.9(b)(vi)) and (iii) if Dealer determines in its good   faith, commercially reasonable judgment that no Price Adjustment will produce   a commercially reasonably result, then such determination shall constitute an   Additional Termination Event applicable to the Transaction and, with respect   to such Additional Termination Event, (1) Counterparty shall be deemed   to be the sole Affected Party, (2) the Transaction shall be the sole   Affected Transaction and (3) Dealer shall be the party entitled to   designate an Early Termination Date pursuant to Section 6(b) of the   Agreement.
    
	
 
    	
 
    	
 
    
	
Hedging Party:
    	
 
    	
For all applicable Potential Adjustment Events and   Extraordinary Events, Dealer
    
	
 
    	
 
    	
 
    
	
Determining Party:
    	
 
    	
For all applicable Extraordinary Events, Dealer
    
	
 
    	
 
    	
 
    
	
Non-Reliance:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Agreements and   Acknowledgments Regarding Hedging Activities:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
Additional   Acknowledgments:
    	
 
    	
Applicable
    
	
 
    	
 
    	
 
    
	
3.     Calculation Agent:
    	
 
    	
Dealer; provided that   following the occurrence of an Event of Default of the type described in   Section 5(a)(vii) of the Agreement with respect to which Dealer is   the sole Defaulting Party, if the Calculation Agent fails to timely make any   calculation, adjustment or determination required to be made by the   Calculation Agent hereunder or to perform any obligation of the Calculation   Agent hereunder and such failure continues for five (5) Exchange   Business Days following notice to the Calculation Agent by Counterparty of   such failure, Counterparty shall have the right to designate a nationally   recognized third-party dealer in over-the-counter corporate equity   derivatives to act, during the period commencing on the date such Event of Default   occurred and ending on the Early Termination Date with respect to such Event   of Default, as the Calculation Agent. Upon request from Counterparty, the   Calculation Agent shall promptly (but in no event later than within five   (5) Exchange Business Days from the receipt of such request) provide   Counterparty with a written explanation describing in reasonable detail any   calculation, adjustment or determination made by it (including any   quotations, market data or information from external sources used in making   such calculation, adjustment or determination, as the case may be, but   without disclosing Dealer’s proprietary models or other information that may   be proprietary or subject to contractual, legal or regulatory obligations to   not disclose such information).
    
	
 
    	
 
    	
 
    
	
4.     Account Details:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Dealer Payment   Instructions:
    	
 
    	
Bank of America NA
    
	
 
    	
 
    	
ABA: 026-009-593
    
	
 
    	
 
    	
SWIFT: BOFAUS3N
    
	
 
    	
 
    	
Bank Routing: 026-009-593
    
	
 
    	
 
    	
Account No. : 0012334-61892
    
	
 
    	
 
    	
Account Name: Bank of America
    
	
 
    	
 
    	
 
    
	
Counterparty Payment Instructions:
    	
 
    	
To be provided by Counterparty.
    

 

13

 

	
5.         Offices:
    	
 
    	
 
    

 

	
The Office of   Dealer for the Transaction is: New York
    
	
 
    
	
The Office of   Counterparty for the Transaction is: Not applicable
    
	
 
    
	
6.         Notices: For   purposes of this Confirmation:
    
	
 
    
	
Address for   notices or communications to Counterparty and/or Counterparty Parent:
    
	
 
    
	
Cardtronics, Inc.
    
	
3250 Briarpark Drive
    
	
Suite 400
    
	
Houston, Texas 77042
    
	
Attn: Edward H. West
    
	
Telephone: (832)   308-4599
    
	
Email:   ewest@cardtronics.com
    
	
 
    
	
Cardtronics, Inc.
    
	
3250 Briarpark Drive
    
	
Suite 400
    
	
Houston, Texas 77042
    
	
Attn: Todd Ruden
    
	
Telephone: (832)   308-4150
    
	
Email:   truden@cardtronics.com
    
	
 
    
	
With a copy to:
    
	
 
    
	
Cardtronics, Inc.
    
	
3250 Briarpark Drive
    
	
Suite 400
    
	
Houston, Texas 77042
    
	
Attn: Roger Craig
    
	
Telephone: (832)   308-4030
    
	
Email:   rcraig@cardtronics.com
    
	
 
    
	
With a copy to:
    
	
 
    
	
Cardtronics plc
    
	
3250 Briarpark Drive
    
	
Suite 400
    
	
Houston, Texas 77042
    
	
Attn: Edward H. West
    
	
Telephone: (832) 308-4599
    
	
Email:   ewest@cardtronics.com
    
	
 
    
	
Address for notices or   communications to Dealer:
    
	
 
    
	
Bank of America, N.A.
    
	
c/o Merrill Lynch,   Pierce, Fenner & Smith Incorporated
    
	
One Bryant Park
    
	
New York, NY 10036
    
	
Attn: Gary Rosenblum
    
	
gary.rosenblum@bankofamerica.com
    
	
Telephone: 646 855-3684
    
	
Facsimile: 646 834-9809
    

 

14

 

	
7.   Representations, Warranties and   Agreements:
    

 

(a)                                 In addition to the representations and warranties in the Agreement and those contained elsewhere herein, each of Counterparty and Counterparty Parent represents and warrants to and for the benefit of, and agrees with, Dealer as follows; provided that, Counterparty Parent will not be deemed to have made any representation or warranty set forth below to the extent the provisions below would have required such representation or warranty to have been made prior to the Amendment Date:

 

(i)                                     On the Trade Date, on the Amendment Date and as of the date of any election by Counterparty of the Share Termination Alternative under (and as defined in) Section 8(b) below, each of Counterparty and Counterparty Parent is not aware of any material nonpublic information regarding Counterparty Parent or the Shares.

 

(ii)                                  (A) On the Trade Date, the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and shall not be, subject to a “restricted period,” as such term is defined in Regulation M (“Regulation M”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (B) Counterparty shall not engage in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Trade Date, (C) on the Amendment Date, the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and shall not be, subject to a “restricted period,” as such term is defined in Regulation M and (D) Counterparty Parent and Counterparty shall not engage in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Amendment Date.

 

(iii)                               On each of the Trade Date and the Amendment Date, Counterparty and Counterparty Parent will not, will cause their respective subsidiaries not to and will use commercially reasonable efforts to cause its other “affiliated purchasers” (as defined in Rule 10b-18 under the Exchange Act (“Rule 10b-18”)) not to, directly or indirectly (including, without limitation, by means of any cash-settled or other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer.

 

(iv)                              Without limiting the generality of Section 13.1 of the Equity Definitions, each of Counterparty and Counterparty Parent acknowledges that Dealer is not making any representations or warranties or taking any position or expressing any view with respect to the treatment of the Transaction under any accounting standards including ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity (or any successor issue statements) or under FASB’s Liabilities & Equity Project.

 

(v)                                 On the Trade Date and on the Amendment Date, each of Counterparty and Counterparty Parent is not engaged in an “issuer tender offer” as such term is defined in Rule 13e-4 under the Exchange Act with respect to any Shares or any security convertible into or exchangeable or exercisable for any Shares nor is it aware of any third party tender offer with respect to any such securities within the meaning of Rule 13e-1 under the Exchange Act.

 

(vi)                              Prior to each of the Trade Date and the Amendment Date, Counterparty and Counterparty Parent shall deliver to Dealer a resolution of such party’s board of directors (or the equivalent authority, as applicable) authorizing the Transaction (as amended and restated on the Amendment Date) and such other certificate or certificates as Dealer shall reasonably request.

 

(vii)                           Each of Counterparty and Counterparty Parent is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) in violation of the Exchange Act or any other applicable securities laws.

 

(viii)                        Each of Counterparty and Counterparty Parent is not, and after giving effect to the transactions contemplated hereby will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

15

 

(ix)                              On each of the Trade Date, the Premium Payment Date and the Amendment Date, each of Counterparty and Counterparty Parent is not, or will not be, “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and as of the Trade Date and Premium Payment Date, Counterparty would have been able to purchase the Shares hereunder in compliance with the laws of its jurisdiction of incorporation, and following the Amendment Date, Counterparty will be able to cause the delivery of Shares to a Designee in compliance with the laws of England and Wales.

 

(x)                                 To the best of each of Counterparty’s and Counterparty Parent’s knowledge, no state or local (including the laws of England and Wales and other non-U.S. jurisdictions) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares.

 

(xi)                              The representations and warranties of Counterparty set forth in Section 3 of the Agreement and Section 1 of the Purchase Agreement dated as of November 19, 2013, between Counterparty and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representative of the Initial Purchasers party thereto (the “Purchase Agreement”) are true and correct as of the Trade Date and are hereby deemed to be repeated to Dealer as if set forth herein.

 

(xii)                           Each of Counterparty and Counterparty Parent understands no obligations of Dealer to it hereunder will be entitled to the benefit of deposit insurance and that such obligations will not be guaranteed by any affiliate of Dealer or any governmental agency.

 

(xiii)                        Each of Counterparty and Counterparty Parent (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least $50 million.

 

(xiv)                       Without limiting the generality of Section 3(a) of the Agreement and without limiting the representations and warranties made by Counterparty in paragraph 7(a)(xiv) of the Original Confirmation on the Trade Date, neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of either Counterparty or Counterparty Parent hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents) of Counterparty, the memorandum of association or articles of association (or any equivalent documents) of Counterparty Parent, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument filed as an exhibit to Counterparty’s Annual Report on Form 10-K for the year ended December 31, 2015, as updated by any subsequent filings (including Counterparty Parent’s Form 8-K12B filed on July 1, 2016 and any subsequent filings made by Counterparty Parent as successor issuer to Counterparty), to which Counterparty, Counterparty Parent or any of their respective subsidiaries is a party or by which Counterparty, Counterparty Parent or any of their respective subsidiaries is bound or to which Counterparty, Counterparty Parent or any of their respective subsidiaries is subject, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

 

(xv)                          Each of Counterparty and Counterparty Parent understands, acknowledges and agrees that: (A) at any time during the term of the Transaction, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging or market activities in securities of Counterparty and/or Counterparty Parent shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the relevant prices with respect to the Shares referred to herein; and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the relevant prices with respect to the shares referred to herein, each in a manner that may be adverse to Counterparty and/or Counterparty Parent.

 

16

 

(xvi)                       On the Amendment Date, Counterparty represents, which representation will be deemed repeated at all times until the termination of the Agreement, that Cardtronics, Inc. is duly appointed as a trustee of the EBT.

 

(b)                                 Each of Dealer, Counterparty and Counterparty Parent agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of the U.S. Commodity Exchange Act, as amended.

 

(c)                                  Each of Dealer, Counterparty and Counterparty Parent acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(a)(2) thereof.  Accordingly, each of Counterparty and Counterparty Parent represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and is able to bear a total loss of its investment, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to the distribution or resale thereof and (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws.

 

(d)                                 Each of Counterparty and Counterparty Parent agrees and acknowledges that Dealer has informed it that Dealer is a “financial institution” and “financial participant” within the meaning of Sections 101(22) and 101(22A) of the Bankruptcy Code.  The parties hereto further agree and acknowledge that it is the intent of the parties that (A) this Confirmation is a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “settlement payment,” within the meaning of Section 546 of the Bankruptcy Code, and (B) Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o), 546(e), 548(d)(2), 555 and 561 of the Bankruptcy Code.

 

(e)                                  Counterparty has delivered to Dealer one or more opinions of counsel, dated as of the closing date of the Convertible Securities issued pursuant to the over-allotment option exercised on November 21, 2013, in the form agreed between Dealer and Counterparty.  Each of Counterparty and Counterparty Parent shall deliver to Dealer one or more opinions of counsel, dated as of the Amendment Date, in substantially the form agreed between Dealer and Counterparty or Counterparty Parent, as applicable. In addition to the foregoing, Counterparty shall deliver to Dealer one or more opinions of counsel confirming the EBT has been properly constituted, Cardtronics, Inc. has been duly appointed as the trustee and in such capacity has the authority and capacity to accept delivery of Shares, dated as of the Amendment Date, in the form agreed between Dealer and Counterparty.

 

(f)                                   Each of Counterparty and Counterparty Parent understands that notwithstanding any other relationship between Counterparty and Dealer and/or their affiliates, in connection with this Transaction and any other over-the-counter derivative transactions between Counterparty and Dealer and/or their affiliates, Dealer or its affiliates is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment, unwind or termination thereof.

 

8. Other Provisions:

 

(a)                                 Additional Termination Events.  The occurrence of (i) an “Event of Default” with respect to Counterparty and/or Counterparty Parent under the terms of the Convertible Securities as set forth in Section 7.01(a) of the Indenture that results in the Convertible Securities becoming or being declared due and payable pursuant to the Indenture or (ii) an Amendment Event shall be an Additional Termination Event with respect to which the Transaction is the sole Affected Transaction and Counterparty is the sole Affected Party and Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement.

 

“Amendment Event” means that Counterparty and/or Counterparty Parent amends, modifies, supplements, waives or obtains a waiver in respect of any term of the Indenture or the Convertible Securities governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, redemption right of Counterparty, any term relating to conversion of the Convertible Securities (including changes to the conversion price, conversion settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal amount of the Convertible Securities to amend, in each case without the consent of Dealer.

 

(b)                                 Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.  If Dealer shall owe Counterparty any amount pursuant to “Consequences of Merger Events” above or Sections 12.6, 12.7

 

17

 

or 12.9 of the Equity Definitions or pursuant to Section 6(d)(ii) of the Agreement (a “Payment Obligation”), Counterparty shall have the right, in its sole discretion, to require Dealer to satisfy any such Payment Obligation by the Share Termination Alternative (as defined below) by giving irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than the later of (x) 9:30 A.M. New York City time on the relevant merger date, Announcement Date, Early Termination Date or date of cancellation or termination in respect of an Extraordinary Event, as applicable, and (y) two hours after becoming aware of the relevant event or date; provided that, in the case of this clause (y), if such notice would otherwise be given during the regular trading session on the Exchange, such notice shall instead be given after the close of the regular trading session on the Exchange (in either case, “Notice of Share Termination”); provided that if Counterparty does not elect to require Dealer to satisfy its Payment Obligation by the Share Termination Alternative, Dealer shall have the right, in its sole discretion, to elect to satisfy its Payment Obligation by the Share Termination Alternative, notwithstanding Counterparty’s failure to elect or election to the contrary; and provided further that Counterparty shall not have the right to so elect (but, for the avoidance of doubt, Dealer shall have the right to so elect) in the event of (i) an Insolvency, a Nationalization or a Merger Event, in each case, in which the consideration or proceeds to be paid to holders of Shares consists solely of cash or (ii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party, which Event of Default or Termination Event resulted from an event or events within Counterparty or Counterparty Parent’s control.  Upon such Notice of Share Termination, the following provisions shall apply on the Scheduled Trading Day immediately following the relevant merger date, Announcement Date, Early Termination Date or date of cancellation or termination in respect of an Extraordinary Event, as applicable:

 

	
Share Termination Alternative:
    	
 
    	
Applicable and means that Dealer shall deliver the   Share Termination Delivery Property on the date on which the Payment   Obligation would otherwise be due pursuant to “Consequences of Merger Events”   above, Section 12.7 or 12.9 of the Equity Definitions or   Section 6(d)(ii) of the Agreement, as applicable, or such later   date as the Calculation Agent may reasonably determine (the “Share Termination Payment Date”), in satisfaction of the   Payment Obligation.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Dealer shall deliver the Share Termination Delivery   Property to Counterparty; provided   that if Dealer is obligated to deliver Shares to Counterparty or Counterparty   is obligated to repurchase any Shares hereunder, such Shares shall be   delivered only to Designee(s) of Counterparty set forth in the   applicable notice; provided further   that in the absence of designation by Counterparty of its Designee(s),   Cardtronics. Inc. in its capacity as the trustee of the EBT shall be deemed   the Designee to whom Dealer shall be entitled to deliver the Shares.
    
	
 
    	
 
    	
 
    
	
Share Termination Delivery Property:
    	
 
    	
A number of Share Termination Delivery Units, as calculated   by the Calculation Agent, equal to the Payment Obligation divided by the   Share Termination Unit Price. The Calculation Agent shall adjust the Share   Termination Delivery Property by replacing any fractional portion of the   aggregate amount of a security therein with an amount of cash equal to the   value of such fractional security based on the values used to calculate the   Share Termination Unit Price.
    
	
 
    	
 
    	
 
    
	
Share Termination Unit Price:
    	
 
    	
The value of property contained in one Share   Termination Delivery Unit on the date such Share Termination Delivery Units   are to be delivered as Share Termination Delivery Property, as determined by   the Calculation Agent in its discretion by commercially reasonable means and   notified by the Calculation Agent to Dealer at the time of notification of   the Payment Obligation.
    
	
 
    	
 
    	
 
    
	
Share Termination Delivery Unit:
    	
 
    	
In the case of a Termination Event, Event of   Default, Delisting or Additional Disruption Event, one Share or, in the case   of an Insolvency, Nationalization or Merger Event, one Share or a unit   consisting of the number or amount of each type of property received by a   holder of one Share (without consideration of any requirement to pay cash or   other consideration in lieu of fractional amounts of any securities) in such   Insolvency, Nationalization or Merger Event, as applicable. If such   Insolvency, Nationalization or Merger Event involves a choice of   consideration to be received by holders, such holder shall be deemed to have   elected to receive the maximum possible amount of cash.
    

 

18

 

	
Other applicable provisions:
    	
 
    	
If Share Termination Alternative is applicable, the   provisions of Sections 9.8, 9.9, 9.10 and 9.11 (except that the   Representation and Agreement contained in Section 9.11 of the Equity   Definitions shall be modified by excluding any representations therein   relating to restrictions, obligations, limitations or requirements under   applicable securities laws arising as a result of the fact that Counterparty   Parent is the issuer of, and/or Counterparty is an affiliate of the issuer   of, the Shares or any portion of the Share Termination Delivery Units) of the   Equity Definitions will be applicable as if “Physical Settlement” applied to   the Transaction, except that all references to “Shares” shall be read as   references to “Share Termination Delivery Units.”
    

 

(c)                                  Disposition of Hedge Shares.  Each of Counterparty and Counterparty Parent hereby agrees that if, in the good faith reasonable judgment of Dealer based on advice of counsel, any Shares (the “Hedge Shares”) acquired by Dealer for the purpose of effecting a commercially reasonable hedge of its obligations pursuant to the Transaction cannot be sold in the public market by Dealer without registration under the Securities Act, other than any such restriction arising as a result of (x) such Shares being, at the time of acquisition by Dealer, “restricted securities” (as defined in Rule 144(a)(3) under the Securities Act) or (y) Dealer being an “affiliate” (as defined in Rule 144(a)(1) under the Securities Act) of the Issuer, at Counterparty’s election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, Counterparty Parent shall make available to Dealer an effective registration statement under the Securities Act to cover the resale of such Hedge Shares and (A) enter into an agreement, in form and substance commercially reasonably satisfactory to Dealer, substantially in the form of an underwriting agreement for a registered offering of similar size for a similarly situated issuer, (B) provide accountant’s “comfort” letters in customary form for registered offerings of equity securities of similar size for a similarly situated issuer, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty Parent reasonably acceptable to Dealer, (D) provide other customary opinions, certificates and closing documents customary in form for registered offerings of equity securities of similar size for a similarly situated issuer and (E) afford Dealer a reasonable opportunity to conduct a “due diligence” investigation with respect to Counterparty Parent customary in scope for underwritten offerings of equity securities; provided, however, that if Dealer, in its sole reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering referred to above, then, upon written notice of such dissatisfaction to Counterparty Parent, clause (ii) or clause (iii) of this Section 8(c) shall apply at the election of Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, Counterparty Parent shall, to the fullest extent permitted by the laws of England and Wales, enter into a private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity securities of similar size for a similarly situated issuer, in form and substance commercially reasonably satisfactory to Dealer, including customary representations, covenants, blue sky and other governmental filings and/or registrations (with best efforts to obtain any necessary consents), indemnities to Dealer and due diligence rights (for Dealer or any designated buyer of the Hedge Shares from Dealer), and using best efforts to obtain customary opinions and certificates, and such other documentation, if any, as is customary for private placements of similar size for a similarly situated issuer and in each case, to the fullest extent permitted by the laws of England and Wales, all commercially reasonably acceptable to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary, in its commercially reasonable judgment, to compensate Dealer for any commercially reasonable discount from the public market price of the Shares incurred on the sale of Hedge Shares in a private placement) provided, however, that if Dealer, in its sole reasonable discretion, is not satisfied with such documentation due to limitations arising out of the laws of England and Wales, clause (iii) of this Section 8(c) shall apply; or (iii) Counterparty shall purchase the Hedge Shares from Dealer at the VWAP Price on such Exchange Business Days, and in the amounts, commercially reasonably requested by Dealer, save that any Hedge Shares so purchased will be delivered to Designee(s).  “VWAP Price” means, on any Exchange Business Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg Screen CATM <Equity> VAP (or any successor thereto) in respect of the period from 9:30 a.m. to 4:00 p.m. (New York City time) on such Exchange Business Day (or if such volume-weighted average price is unavailable or is manifestly incorrect, the market value of one Share on such Exchange Business Day, as determined by the Calculation Agent using a volume-weighted method).

 

(d)                                 Amendment to Equity Definitions.  The following amendment shall be made to the Equity Definitions:

 

Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at Dealer’s option, the

 

19

 

occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.”

 

(e)                                  Repurchase and Conversion Rate Adjustment Notices.  Either Counterparty or Counterparty Parent shall, at least two Scheduled Trading Days prior to effecting any repurchase of Shares or consummating or otherwise executing or engaging in any transaction or event (a “Conversion Rate Adjustment Event”) that would lead to an increase in the Conversion Rate (as such term is defined in the Indenture), other than a stock split or a dividend or distribution with respect to the Shares made exclusively in Shares, give Dealer a written notice of such repurchase or Conversion Rate Adjustment Event (a “Repurchase Notice”) if, following such repurchase or Conversion Rate Adjustment Event, the Notice Percentage as determined on the date of such Repurchase Notice is (i) greater than 4.5% and (ii) greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice, greater than the Notice Percentage as of the date hereof), and, if such repurchase or Conversion Rate Adjustment Event, or the intention to effect the same, would constitute material non-public information with respect to Counterparty Parent or the Shares, Counterparty Parent shall make public disclosure thereof at or prior to delivery of such Repurchase Notice.  Without limitation of Counterparty Parent’s obligation to make public disclosures as required pursuant to the immediately preceding sentence, the parties agree that Counterparty’s and Counterparty Parent’s obligation to provide any Repurchase Notice relating to a repurchase of Shares shall be satisfied by notice to Dealer of Counterparty or Counterparty Parent’s, as applicable, related corporate authorization to repurchase such Shares (which may reference delivery of such Shares to Designee(s)); provided that, each of Counterparty and Counterparty Parent acknowledges and agrees that Dealer may, but is not required to, assume that the maximum number of Shares permitted to be repurchased pursuant to such authorization will be repurchased on the date on which such authorization becomes effective, subject to adjustments thereto as Dealer determines appropriate to account for the market price with respect to the Shares, Potential Adjustment Events and other corporate transactions with respect to Counterparty Parent or the Shares and such other factors as Dealer determines relevant.  The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is the Number of Shares and the denominator of which is the number of Shares outstanding on such day.  In the event that each of Counterparty and Counterparty Parent fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 8(e) then each of Counterparty and Counterparty Parent agrees to indemnify and hold harmless Dealer, its affiliates and their respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any and all losses, claims, damages and liabilities (or actions in respect thereof), joint or several, to which such Indemnified Party may become subject under applicable securities laws, including without limitation, Section 16 of the Exchange Act, resulting from such failure.  If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty and Counterparty Parent shall contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability.  In addition, Counterparty and Counterparty Parent will reimburse any Indemnified Party for all reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) as they are incurred (after notice to Counterparty or Counterparty Parent, as applicable) in connection with the investigation of, preparation for or defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty or Counterparty Parent, as applicable.  This indemnity shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and delegation of the Transaction made pursuant to this Confirmation or the Agreement shall inure to the benefit of any permitted assignee of Dealer.

 

(f)                                   Transfer and Assignment.  Any party hereto may transfer any of its rights or obligations under the Transaction with the prior written consent of Dealer (in the case of a transfer by Counterparty or Counterparty Parent) or Counterparty (in the case of a transfer by Dealer), such consent not to be unreasonably withheld or delayed. For the avoidance of doubt, Dealer may condition its consent on any of the following, without limitation: (i) the receipt by Dealer of opinions and documents reasonably satisfactory to Dealer in connection with such assignment, (ii) such assignment being effected on terms reasonably satisfactory to Dealer with respect to any legal and regulatory requirements relevant to Dealer, (iii) Counterparty and/or Counterparty Parent, as applicable, continuing to be obligated to provide notices hereunder relating to the Convertible Securities and continuing to be obligated with respect to “Disposition of Hedge Shares” and “Repurchase Notices” above, and (iv) Dealer not becoming, as a result of such transfer and assignment, required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty or Counterparty Parent, as applicable, in the absence of such transfer and assignment.  In addition, Dealer may transfer or assign without any consent of Counterparty or Counterparty Parent its rights and obligations hereunder and under the Agreement, in whole

 

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or in part, to a 100% owned direct or indirect subsidiary of Dealer Parent, the obligations of which are guaranteed fully and unconditionally by Dealer, Dealer Parent or another 100% owned direct or indirect subsidiary of Dealer Parent with a credit rating for its long-term unsecured debt obligations that is at least as high (from each of Standard and Poor’s Rating Group, Inc., or its successor, and Moody’s Investor Service, Inc., or its successor, in either case, if such rating agency rates such debt obligations at such time) as Dealer’s or Dealer Parent’s; provided that (x) Counterparty will not be required, as a result of such transfer or assignment, to pay the transferee or assignee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than the amount, if any, that Counterparty would have been required to pay Dealer in the absence of such transfer or assignment and (y) the transferee or assignee shall provide Counterparty with a complete and accurate U.S. Internal Revenue Service Form W-9 or W-8 (as applicable) prior to becoming a party to the Transaction.  At any time at which an Excess Ownership Position exists, if Dealer reasonably determines it is unable to effect a transfer or assignment to a third party in accordance with the requirements set forth above after using its commercially reasonable efforts on pricing terms and within a time period reasonably acceptable to Dealer to the extent that an Excess Ownership Position would no longer exist after giving effect thereto (assuming a commercially reasonable corresponding change to Dealer’s commercially reasonable Hedge Position), Dealer may designate any Scheduled Trading Day as an Early Termination Date with respect to a portion (the “Terminated Portion”) of the Transaction to the extent that such Excess Ownership Position would no longer exist after giving effect thereto (assuming a commercially reasonable corresponding change to Dealer’s commercially reasonable Hedge Position). In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall be made pursuant to Section 6 of the Agreement and Section 8(b) of this Confirmation as if (i) an Early Termination Date had been designated in respect of an Additional Termination Event occurring under a Transaction having terms identical to the Terminated Portion of the Transaction, (ii) Counterparty shall be the sole Affected Party with respect to such Additional Termination Event and (iii) such portion of the Transaction shall be the only Terminated Transaction. Dealer shall use commercially reasonable efforts to manage its Hedge Positions, through cash-settled swaps or through use of Section 8(g) hereof or otherwise, to avoid an Excess Ownership Position without exercising the termination right described in the two immediately preceding sentences; provided that, if Dealer determines that as a result of using such efforts Dealer or its affiliates would incur any increased (as compared with circumstances existing on the Trade Date) amount of tax, duty, expense or fee, then Dealer may give notice to Counterparty of such increased cost and the Price Adjustment that Dealer proposes to make to the Transaction in respect thereof and Counterparty shall, within two Scheduled Trading Days, notify Dealer of its election to either (A) amend this Confirmation to take into account such Price Adjustment or (B) pay Dealer an amount determined by the Calculation Agent that corresponds to such Price Adjustment; and provided further that, if notice of such election is not given by the end of that second Scheduled Trading Day, then notwithstanding the foregoing, Dealer will be deemed to have used, and thereafter to use, commercially reasonable efforts to manage its Hedge Positions as required above. “Excess Ownership Position” means any of the following: (i) the Equity Percentage exceeds 9.0%, (ii) the Option Equity Percentage exceeds 14.5% or (iii) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under any federal, state or local laws, regulations, regulatory orders or organizational documents of Counterparty or Counterparty Parent or contracts of Counterparty and/or Counterparty Parent that are, in each case, applicable to ownership of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations (except for any requirement to file Form 13F, Schedule 13D or Schedule 13G under the Exchange Act) or other requirements (including obtaining prior approval by a state or federal regulator, including in respect of the laws of England and Wales or any other non-U.S. jurisdiction) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under Applicable Restrictions, as determined by Dealer in its reasonable discretion, and with respect to which such requirements have not been met or the relevant approval has not been received or that would give rise to any consequences under the constitutive documents of Counterparty or Counterparty Parent or any contract or agreement to which Counterparty and/or Counterparty Parent is a party, in each case minus (y) 1% of the number of Shares outstanding on the date of determination.  The “Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer, for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13) of which Dealer is or may be deemed to be a part (Dealer and any such affiliates, persons and groups, collectively, “Dealer Group”) beneficially owns (within the meaning of Section 13 of the Exchange Act), without duplication, on such day (or, to the extent that, as a result of a change in law, regulation or interpretation after the date hereof, the equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder results in a higher number, such number) and (B) the denominator of which is the number of Shares outstanding on such day.  The “Option Equity Percentage” as of any day

 

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is the fraction, expressed as a percentage, (A) the numerator of which is the sum of (1) the Number of Shares and (2) the aggregate number of Shares underlying any other call option transaction sold by Dealer to Counterparty and/or Counterparty Parent, and (B) the denominator of which is the number of Shares outstanding (including, solely for such purpose, Shares that would be deemed outstanding pursuant to the last sentence of Rule 13d-3(d)(1)(i) under the Exchange Act as if such sentence were applicable to the calculation described in clause (B) of the definition of Option Equity Percentage).

 

(g)                                  Staggered Settlement.  If Dealer reasonably determines it is appropriate with respect to any applicable legal, regulatory or self-regulatory requirements (including any requirements relating to Dealer’s hedging activities with respect to the Transaction), and/or to avoid an Excess Ownership Position, Dealer may, by notice to Counterparty on or prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on two or more dates (each, a “Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows:

 

(i)                                     in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will be on or prior to such Nominal Settlement Date, but not prior to the beginning of the related “Observation Period”, as defined in the Indenture (as modified by the provision set forth opposite the caption “Convertible Security Settlement Method”)) or delivery times and how it will allocate the Shares it is required to deliver under “Delivery Obligation” (above) among the Staggered Settlement Dates or delivery times; and

 

(ii)                                  the aggregate number of Shares that Dealer will deliver to Designee(s) hereunder on all such Staggered Settlement Dates and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date.

 

(h)                                 Right to Extend.  The Calculation Agent may postpone or add, in whole or in part, any Exercise Date or Settlement Date or any other date of valuation or delivery by Dealer, with respect to some or all of the relevant Options (in which event the Calculation Agent shall make appropriate adjustments to the Delivery Obligation), if Dealer reasonably determines, based on advice of counsel in the case of the immediately following clause (ii), that such postponement or addition is reasonably necessary or appropriate to (i) preserve Dealer’s commercially reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market, the stock loan market or any other relevant market (but only if there is a material decrease in liquidity relative to Dealer’s expectations as of the Trade Date) or (ii) to enable Dealer, in its reasonable judgment, based on advice of counsel, to effect purchases of Shares in connection with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty and/or Counterparty Parent or an affiliated purchaser of Counterparty and/or Counterparty Parent, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer and the Transaction (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer in good faith in relation to such requirements).

 

(i)                                     Adjustments.  For the avoidance of doubt, whenever the Calculation Agent is called upon to make an adjustment pursuant to the terms of this Confirmation or the Definitions to take into account the effect of an event, the Calculation Agent shall make such adjustment by reference to the effect of such event on the Hedging Party, assuming that the Hedging Party maintains a commercially reasonable hedge position.

 

(j)                                    Disclosure.  Effective from the date of commencement of discussions concerning the Transaction, Counterparty and Counterparty Parent and each of their employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty or Counterparty Parent relating to such tax treatment and tax structure.

 

(k)                                 Designation by Dealer.  Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities to or from Counterparty, Counterparty Parent or a Designee, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such shares or other securities and otherwise to perform Dealer obligations in respect of the Transaction and any such designee may assume such obligations.  Dealer shall be discharged of its obligations to Counterparty or Counterparty Parent only to the extent of any such performance.

 

(l)                                     No Netting and Set-off.  Each party waives any and all rights it may have to set off obligations arising under the Agreement and the Transaction against other obligations between the parties, whether arising under any other agreement, applicable law or otherwise.

 

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(m)                             Equity Rights.  Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to the Transaction that are senior to the claims of common stockholders in the event of Counterparty or Counterparty Parent’s, as applicable, bankruptcy.  For the avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time other than during Counterparty or Counterparty Parent’s, as applicable, bankruptcy to any claim arising as a result of a breach by Counterparty or Counterparty Parent, as applicable, of any of its obligations under this Confirmation or the Agreement.  For the avoidance of doubt, the parties acknowledge that this Confirmation is not secured by any collateral that would otherwise secure the obligations of Counterparty or Counterparty Parent herein under or pursuant to any other agreement.

 

(n)                                 Early Unwind.  In the event the sale by Counterparty of the Additional Securities (as defined in the Purchase Agreement) is not consummated with the initial purchasers pursuant to the Purchase Agreement for any reason by the close of business in New York on November 25, 2013 (or such later date as agreed upon by the parties, which in no event shall be later than December 6, 2013) (November 25, 2013 or such later date being the “Early Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations of Dealer and Counterparty thereunder shall be cancelled and terminated and (ii) only in the case where such Early Unwind occurred as a result of events within Counterparty’s control, Counterparty shall pay to Dealer an amount in cash equal to the aggregate amount of costs and expenses relating to the unwinding of Dealer’s hedging activities in respect of the Transaction (including market losses incurred in reselling any Shares purchased by Dealer or its affiliates in connection with such hedging activities) or, at the election of Counterparty, deliver to Dealer Shares with a value equal to such amount, as commercially reasonably determined by the Calculation Agent, in which event the parties shall enter into customary and commercially reasonable documentation relating to the registered or exempt resale of such Shares; provided that, if Counterparty makes such election to deliver Shares, notwithstanding the foregoing, the number of Shares so delivered will not exceed a number of Shares equal to two multiplied by the Number of Shares (with such Number of Shares determined, for the avoidance of doubt, as if the relevant Convertible Securities had been issued).  Following such termination, cancellation and (if applicable) payment or delivery, each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of either party arising out of and to be performed in connection with the Transaction either prior to or after the Early Unwind Date.  Dealer and Counterparty represent and acknowledge to the other that upon an Early Unwind and following the payment or delivery (if applicable) referred to above, all obligations with respect to the Transaction shall be deemed fully and finally discharged.

 

(o)                                   Wall Street Transparency and Accountability Act of 2010.  The parties hereby agree that none of (v) Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), (w) any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the Trade Date, (x) the enactment of WSTAA or any regulation under the WSTAA, (y) any requirement under WSTAA nor (z) an amendment made by WSTAA, shall limit or otherwise impair either party’s rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position or Illegality (as defined in the Agreement)).

 

(p)                                 Payment by Counterparty. In the event that an Early Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Counterparty owes to Dealer an amount calculated under Section 6(e) of the Agreement, such amount shall be deemed to be zero.

 

(q)                                 Withholding Tax imposed on payments to non-US counterparties under the United States Foreign Account Tax Compliance Act. “Tax” and “Indemnifiable Tax” each as defined in Section 14 of the Agreement shall not include (i) any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”), (ii) any U.S. federal withholding tax imposed on amounts treated as dividends from sources within the United States under Sections 305 or 871(m) of the Code (or any Treasury regulations or other guidance issued thereunder) (a “Dividend Tax”), or (iii) any withholding or deduction for or on account of United Kingdom tax.  For all purposes of Section 2(d) of the Agreement, the requirement that Dealer remit any amount of Dividend Tax (without regard to whether there is a payment under the Transaction from which to withhold or deduct Tax) shall be treated as a requirement to withhold or deduct Tax with respect to a payment under the

 

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Transaction. If, at any time, Dealer is required to remit an amount of Dividend Tax then without duplication for any amount that Dealer has deducted on account of such Tax from any payment pursuant to the Transaction, the amount that was remitted shall be payable by Counterparty to Dealer within 10 days after request therefor by Dealer. For the avoidance of doubt, a FATCA Withholding Tax and a Dividend Tax are each a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement.

 

(r)                                    Delivery to Designee. Counterparty hereby confirms and agrees that it has directed Dealer to settle its delivery obligations of Shares under this Confirmation, including without limitation the Delivery Obligation and (where applicable) the Share Termination Delivery Property, by delivery to the Designee(s). Counterparty hereby agrees and confirms that delivery to a Designee pursuant to the terms of this Confirmation shall fully discharge the corresponding obligations of Dealer under this Confirmation. Delivery by Dealer shall be made by the giving of written instructions (including, for the avoidance of doubt, instructions given by telex, facsimile transmission or electronic messaging system) to the relevant depository institution which are sufficient, if complied with, to result in a legally effective transfer of legal and beneficial title to the Shares. If, within a month of delivery by Dealer, the Designee has failed to accept receipt of the Shares, Dealer is entitled (in its sole and absolute discretion) to use the Shares as it sees fit and has no further obligations to Counterparty with respect to the delivery of such Shares.

 

(s)                                   Waiver of Trial by Jury.  EACH OF COUNTERPARTY, COUNTERPARTY PARENT AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION OR THE ACTIONS OF DEALER OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

(t)                                    Governing Law; Jurisdiction.  THIS CONFIRMATION AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS CONFIRMATION SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.  THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS.

 

(u)                                 Process Agent.  Counterparty Parent hereby irrevocably appoints Counterparty as its Process Agent.

 

(v)                                 Credit Support.  For purposes of this Confirmation, each reference in the Agreement to a Credit Support Provider shall be deemed to be a reference to Counterparty Parent, and each reference in the Agreement to a Credit Support Document shall be deemed to be a reference to this Confirmation.

 

(w)                               United Kingdom Stamp Taxes.  The Counterparty shall be liable to pay to and reimburse the Dealer on demand in respect of all and any United Kingdom stamp duty and/or stamp duty reserve tax (including any related costs, fines, penalties or interest) arising in connection with (a) the execution and delivery of this Confirmation or the Agreement or (b) the Transaction (including, for the avoidance of doubt, any transfer, or agreement to transfer, any Shares to the Dealer if and to the extent that such Shares are used by the Dealer to deliver Shares under this Confirmation or the Agreement).

 

24

 

Each of Counterparty and Counterparty Parent hereby agrees (a) to check this Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing (in the exact form provided by Dealer) correctly sets forth the terms of the agreement among Dealer, Counterparty and Counterparty Parent with respect to the Transaction (as amended and restated on the Amendment Date), by manually signing this Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and immediately returning an executed copy to Dealer.

 

	
 
    	
Yours   faithfully,
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Christopher A.   Hutmaker
    
	
 
    	
 
    	
Name: Christopher A.   Hutmaker
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    
	
Agreed and Accepted By:
    	
 
    
	
 
    	
 
    
	
CARDTRONICS, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Todd Ruden
    	
 
    	
 
    
	
 
    	
Name: Todd Ruden
    	
 
    	
 
    
	
 
    	
Title: Treasurer
    	
 
    
	
 
    	
 
    
	
CARDTRONICS PLC
    	
 
    
	
 
    	
 
    

 

	
SIGNED   by a duly authorized representative for and on behalf of Cardtronics plc
    	
 
    	
/s/ E. Brad Conrad
    	
 
    
	
Print name: E. Brad   Conrad
    	
 
    
	
Title: Chief Accounting   Officer
    	
 
    

 

25

 

Annex A

 

Premium:                                           USD 2,839,500.00 (Premium per Option USD 75.72).

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