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Exhibit 10.15    
  

	 	 	Agreement ref:    TRM 001

                  

 
 

SUPPLEMENTAL AGREEMENT    
  

        This agreement ("Supplement") is supplemental to the Agreement identified above ("Agreement") made between TRM (ATM)
LIMITED ("TRM") and NCR LIMITED ("NCR"). The parties agree that they will be bound by the provisions of the Agreement as varied
and/or supplemented by this Supplement. Terms used in this Supplement will have the meanings attributed to them in the Agreement. References to clauses and subclauses are to clauses and
sub-clauses of this Supplement unless expressed to the contrary. 

1.    PURPOSE OF AGREEMENT

	1.1
	NCR
and TRM's parent company, TRM Corporation, have entered into a master agreement dated 15 September 1999 (the "Purchase Terms").

	1.2
	NCR
and TRM have from time to time contracted for the supply to TRM of automated teller machines ("ATMs") on outright sale and purchase terms and NCR and TRM have agreed that such
contracts of sale and purchase, and future contracts for the supply of ATMs, are or shall be made and subject to the Purchase Terms.

	1.3
	TRM
requires the use of additional ATMs and wishes to acquire the same on lease or rental terms rather than by way of outright sale and purchase.

	1.4
	NCR
has agreed to rent ATMs to TRM under the Agreement. 

2.    SUPPLY AND USE OF PRODUCTS

	2.1
	The
Products comprise ATMs which are located in various premises occupied by customers of TRM (each a "Merchant") pursuant to agreements (each a "Merchant Contract") made
between TRM and the relevant Merchant. For the purpose of the Agreement, the expression "Customer's Site" shall mean, with respect to each ATM comprised in the Products, the Merchant premises
("Location") at which the relevant ATM is located.

	2.2
	It
is expressly declared and agreed between NCR and TRM that the Products are supplied by NCR to TRM on and subject to the Purchase Terms (except that any provisions relating to the
transfer of title in the Products shall be deemed deleted) and that such supply shall be deemed to be made under a contract arising pursuant to the Purchase Terms which is separate and distinct from
the contract made between them for the letting of the Products under the Agreement. Accordingly, TRM agrees, without prejudice to any rights or remedies available to it under the Purchase Terms, that
the provisions of clauses 1.2.1, 2.2.4, 2.6 and 2.8 of the Agreement shall be fully effective with respect to the letting of the Products under the Agreement regardless of any contrary or conflicting
provision in the Purchase Terms and that the Agreement may be enforced against TRM by NCR accordingly.

	2.3
	If
title to any of the Products shall have transferred to TRM prior to the Commencement Date, such title shall be deemed to transfer back to NCR on the Commencement Date and such
Products shall be deemed supplied to TRM pursuant to the Agreement and this Supplement. TRM hereby waives any rights of ownership of such Products that, but for this clause, it may have been entitled
to assert.

	2.4
	NCR
acknowledges and agrees that the Products shall be located at the Locations for the purposes of and pursuant to the relevant Merchant Contract. TRM represents and warrants to NCR,
as of the Commencement Date, that each ATM comprised in the Products is subject to a duly authorised and executed Merchant Contract. 

	2.5
	TRM
shall provide to NCR, on or prior to the Commencement Date and thereafter at the intervals set out in the table below, and in a format acceptable to NCR, the following particulars
and information with respect to each ATM comprised in the Products. 

	Metric
	 	Frequency

	1.	 	ATM serial number	 	Monthly, by the 13th of the following month
	

2.	
 	

full name and address of the relevant Merchant	
 	

Monthly, by the 13th of the following month
	

3.	
 	

the Location address (if different from Merchant address)	
 	

Monthly, by the 13th of the following month
	

4.	
 	

a copy of the relevant Merchant Contract (if not previously supplied pursuant to this clause 2.4 or clause 2.7)	
 	

Monthly, by the 13th of the following month
	

5.	
 	

revenue received by TRM from Cash Machine Transactions during the preceding month with comparisons against previous months	
 	

Monthly, by the 13th of the following month
	

6.	
 	

the number of Cash Machine Transactions (as defined in the Merchant Contract) carried out during the preceding month with comparisons against previous months	
 	

Monthly, by the 13th of the following month
	

7.	
 	

fees paid to the relevant Merchant with comparisons against previous months	
 	

Monthly, by the 13th of the following month
	

8.	
 	

inventory of ATMs shipped from NCR but not yet installed	
 	

Monthly, by the 13th of the following month
	

9.	
 	

planned installation schedule for the following 60 days	
 	

Monthly, by the 13th of the following month
	

10.	
 	

Risk profile. Visibility of TRM's metrics for internally monitoring the quality of sites and their ongoing performance	
 	

Monthly, by the 13th of the following month

	2.6
	TRM
shall maintain supporting records and books in respect of the particulars and information in clause 2.5 throughout the term of the Agreement. NCR or its duly authorised
representative shall be entitled once in every quarter to audit the records and books of TRM upon 5 business days' notice.

	2.7
	NCR
reserves the right to cancel or delay any shipment of ATMs in the event that the information received by NCR denote, in NCR's opinion, a material concern about TRM's
operations under this Agreement, or in the event that the particulars or information provided by TRM is incomplete or TRM fails to co-operate with any reasonable request for information.

	2.8
	TRM
shall promptly notify NCR in writing if any ATM is moved from the Location last reported pursuant to clause 2.5 and shall provide particulars of the new Location and (if
applicable) the name of the Merchant and a copy of the relevant Merchant Contract.

	2.9
	TRM
shall promptly notify NCR in writing of any changes to the standard terms of the Merchant Contract. 

3.    SECURITY

        As
security for the due performance of its obligations under the Agreement, TRM shall: 

	3.1
	assign
to NCR its rights in and to the Merchant Contract, such assignment to be in a form approved by NCR; and 

	3.2
	procure
that its parent company, TRM Corporation, and its associated company, TRM Copy Centres (U.K.) Limited, shall each execute and deliver to NCR a guarantee, in forms acceptable
to NCR, of the obligations of TRM under the Agreement 

Except
as provided above, all of the provisions of the Agreement will remain in full force and effect. 

	

Signed on behalf of
 TRM (ATM) LIMITED	
 	

Signed on behalf of
 NCR LIMITED
	

/s/ P. A. Townsley	
 	

/s/ Roger Bracken
	
	 	

	(Signature)	 	(Signature)
	

Peter A. Townsley	
 	

Roger Bracken
	
	 	

	(Full Name)	 	(Full Name)
	

Managing Director	
 	

VP, NCR, FSD, UK, IRELAND
	
	 	

	

18/7/02	
 	

13/8/02
	
	 	

	(Date)	 	(Date)

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Exhibit 10.15

SUPPLEMENTAL AGREEMENTQuickLinks
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Exhibit 10.16    
  

 
 

GUARANTEE
  (corporate guarantor)    
  

Agreement
ref. TRM002 

To:

NCR LIMITED
  206 Marylebone Road

London NW1 6LY

(together with its successors and assigns "NCR") 

From:

TRM CORPORATION
  5208 N.E. 122nd Avenue

Portland

OREGON 97230

USA

(the "Guarantor") 

	1.
	The
Guarantor acknowledges that it has received a copy of a rental agreement ref. TRM002 (the "Agreement") entered or to be entered into between TRM (ATM) LIMITED (the "Principal") and
NCR.

	2.
	In
consideration of NCR acting under or in connection with the Agreement, the Guarantor unconditionally and irrevocably guarantees the due performance by the Principal of its
obligations under the Agreement and undertakes to pay NCR on demand, if the Principal fails to pay them, all sums whatsoever which the Agreement provides are to be paid by the Principal.

	3.
	NCR's
certificate of the amounts to be paid by the Guarantor under this Guarantee will be conclusive and binding on the Guarantor in the absence of manifest error.

	4.
	The
Guarantor's liability under this Guarantee shall not be discharged or impaired by:

	(a)
	any
amendment to or variation of the Agreement or any security relating to the Agreement or any assignment thereof;

	(b)
	any
release of or granting of time or any other indulgence to the Principal or any third party;

	(c)
	any
other act, event or omission which would or might but for this clause operate to discharge or impair the Guarantor's liability hereunder. 

	5.
	Any
release, compromise or discharge of the obligations of the Guarantor shall be deemed to be made subject to the condition that it will be voidable by NCR if any payment or security
which NCR may receive or has received is set aside or proves invalid for whatever reason.

	6.
	The
Guarantor's obligation hereunder is that of primary obligor and exists irrespective of any total or partial invalidity, illegality or unenforceability of the Agreement and if any
sum arising under any liability under the guarantee contained herein is not or would not be recoverable on the footing of a guarantee whether by reason of any legal limitation, disability or
incapacity on or of the Principal or any other act or circumstance whether known to NCR or not such sum shall nevertheless be recoverable from the Guarantor as a sole and principal debtor, and shall
be paid or caused to be paid by the Guarantor on demand. 

1

 
	7.
	This
Guarantee is a continuing guarantee and is in addition to and not in substitution for any other security which NCR may now or hereafter hold for the obligations of the Principal
under the Agreement.

	8.
	The
Guarantor shall not, whilst any amounts remain to be paid by the Principal under the Agreement:

	(a)
	prove
in a liquidation or winding up of the Principal in competition with NCR for any sum owing to NCR by the Principal on any account whatsoever;

	(b)
	claim
payment whether directly or by set-off, counterclaim or otherwise of any sum which may be or has become due to the Guarantor by the Principal if the Principal has
defaulted under the Agreement;

	(c)
	exercise
any other right or remedy against the Principal in respect of any sum paid by it under this Guarantee. 

	9.
	All
amounts payable under this Guarantee shall be paid in full without any deduction or withholding whatsoever, unless required by law, in which case the Guarantor shall pay an
additional amount so that the net amount received by NCR equals the amount it would have received in the absence of such deduction or withholding.

	10.
	Any
payment to be made by the Guarantor hereunder shall be made in pounds sterling. The obligation of the Guarantor in respect of any amount due hereunder shall, notwithstanding any
payment in any other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount if pounds sterling that NCR may, in accordance with normal banking
procedures, purchase with the sum paid in such other currency (after any premium and cost of exchange) on the first day on which banks in London are open for business and able to deal in such other
currency immediately following the day on which NCR receives such payment. If the amount in pounds sterling as may be necessary to compensate for such shortfall, and any obligation of the Guarantor
not so discharged shall be due as a separate and independent obligation.

	11.
	The
Guarantor shall on demand indemnify NCR against all costs and expense (including taxes thereon and legal fees) incurred by NCR in protecting and enforcing any rights under this
Guarantee.

	12.
	This
Guarantee may be assigned by NCR provided that any such assignment shall not increase the obligations of the Guarantor hereunder. In the event of such assignment the obligations
of the Guarantor hereunder shall be owed to the assignee as if it were the named beneficiary of this Guarantee.

	13.
	Any
notice or consent to be given under this Guarantee shall be in writing and shall be delivered by hand, or sent by first class post or by facsimile to the other party at the
address given above or at its last known place of business or (in the case of the Guarantor) the agent appointed pursuant to clause 15.3 below and shall be deemed to have been served, in the
case of notice sent by post, 48 hours after posting, or in the case of notice delivered by hand or sent by facsimile, on the date of delivery or transmission.

	14.
	Any
failure by NCR to exercise in whole or in part its rights under this Guarantee will not constitute a waiver of those rights.

	15.1
	This
Guarantee is governed by the law of England. The Guarantor irrevocably submits to the jurisdiction of the Courts of England for the purposes of any legal action or proceedings
arising out of or in connection with the Guarantee ("Proceeding") and waives any objection to 

2

 

Proceedings
in such courts whether on the grounds that the Proceedings have been brought in an inconvenient forum otherwise. 

	15.2
	The
foregoing submission shall not affect the right of NCR to take Proceedings in any other jurisdiction nor shall the taking of Proceedings in any jurisdiction preclude any party
from taking Proceedings in any other jurisdiction.

	15.3
	The
Guarantee irrevocably appoints Jonathan Lass of Cozen and O'Connor, Tower 42, Level 23, 25 Old Broad Street, London EC2N 1HQ to receive for it and on its behalf, service of
process in any Proceedings in England. Such service shall be deemed completed on delivery to such agent whether or not it is forwarded to and received by the Guarantor. The Guarantor may appoint an
alternative agent for the purposes of and subject to this clause 15.3 and such appointment shall be effective upon the Guarantor giving NCR due notice thereof in accordance with
clause 13.

	15.4
	Nothing
herein shall affect the right to serve process in any other matter permitted by law. 

        IN WITNESS WHEREOF the Guarantor has caused this Guarantee to be executed by its duly authorised officer this 29th day of
July 2002 

TRM CORPORATION

Guarantor  

	By:	 	/s/ Danial J. Tierney
	 
	

Title:	
 	

Senior Vice President
	

 

3

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Exhibit 10.16

GUARANTEE (corporate guarantor)

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