Document:

Exhibit 10.52

Exhibit 10.52

EXECUTION VERSION

[***]
— Indicates confidential information.  Confidential treatment
requested.
Portion omitted filed separately with the Securities
and Exchange Commission.

CONTRACT CASH SOLUTIONS AGREEMENT

DATED AS OF NOVEMBER 12, 2010

BETWEEN

GLOBAL CASH ACCESS, INC.

AND

WELLS FARGO BANK, N. A.

 

 

 

This CONTRACT CASH SOLUTIONS AGREEMENT (this “Agreement”) is entered into as of
November 12, 2010 (the “Effective Date”), by and between GLOBAL CASH ACCESS, INC. (“GCA” or
“Client”), a Delaware corporation, with its principal office located at 3525 E. Post Road, Suite
120, Las Vegas, NV 89120 and WELLS FARGO BANK, N.A. (“Wells Fargo”), a national banking
association organized and existing under the laws of the United States with an office located at
3800 Howard Hughes Parkway, Suite 400, Las Vegas NV 89169. Client and Wells Fargo may be referred
to herein as a “Party,” or “Parties” when referring to both of them.

Recitals

1. Client, directly or through its affiliates, owns leases, operates, provides cash for or
manages a network of automated teller machines and other similar types of devices that can dispense
currency (collectively, “ATMs” or “Machines”).

2. The Machines that are subject to this Agreement (the “Covered Machines”) are listed
in Exhibit A to this Agreement; as such exhibit may be amended from time to time pursuant
to the terms of this Agreement.

3. Client may, from time to time, replace existing Machines with other Machines in accordance
with the terms of this Agreement.

4. Subject to the terms of this Agreement, Wells Fargo desires (a) to provide the currency
needed for the dispensing requirements of all of the Covered Machines (the “Contract Cash
Services”) in the amounts to be specified by Client from time to time pursuant to the terms of
this Agreement, and (b) to perform balancing and processing services (“Balancing and Processing
Services”) (and collectively, the “Work”) for the Covered Machines.

5. Wells Fargo, through its vault network, Federal Reserve Bank vaults, and various
third-party providers (each a “Cash Supplier”) will cause the Cash to be made available to
the Armored Carriers for use in the Covered Machines, and Armored Carriers shall transport and
replenish the Cash in the Covered Machines in accordance with this Agreement and the Armored
Carrier Letter Agreements.

6. Client has entered into contracts with each of the persons and entities listed on
Exhibit B as servicers (together with any successor or assign, individually, a
“Servicer” and collectively, “Servicers”) to perform certain services in connection
with the Covered Machines pursuant to separate agreements with Servicers (hereinafter referred to
individually as a “Servicer Agreement” and collectively as the “Servicer
Agreements”). In the event Client desires to add a new service provider to provide certain
services in connection with one or more Covered Machines (other than dispensing change incidental
to the service), Client may add such new service provider as a Servicer to Exhibit B by
providing 30 days written notice to Wells Fargo and submitting an amended Exhibit B to
Wells Fargo listing the new and current Servicers and an executed Servicer Letter for the new
service provider.

 

 

 

7. Client has entered into, and will, with respect to future services, enter into prior to any
Servicer providing any services, a letter agreement with each Servicer, in substantially the
form attached hereto as Exhibit C (each, a “Servicer Letter”) by which the
parties thereto acknowledge or will acknowledge their rights and obligations with respect to the
Cash and Receivables (as defined therein) and the procedures for settlement of transactions
involving the dispensing of Cash from Covered Machines.

8. Client has entered into contracts with one or more armored carriers (together with any
successor or assign, and individually, “Armored Carrier” and collectively, “Armored
Carriers”) for purposes, among other things, of delivering Cash to, and retrieving Cash from,
the Covered Machines (collectively, the “Armored Carrier Contracts,” and individually, an
“Armored Carrier Contract”) and has entered into a separate letter agreement in
substantially the form attached hereto as Exhibit D with each Armored Carrier in connection
with the Covered Machines among Client, Wells Fargo and Armored Carrier (individually, “Armored
Carrier Letter Agreement” and collectively the “Armored Carrier Letter Agreements”).

9. Client may contract with one or more third-parties (together with any successor or assign,
individually, a “Maintenance Provider,” and collectively, the “Maintenance
Providers”) who in connection with its duties to maintain the Covered Machines, may have access
to the Cash in the Covered Machines. Each such agreement with a Maintenance Provider shall be
referred to individually herein as a “Maintenance Contract” and collectively,
“Maintenance Contracts”. Client has entered into, and will, with respect to future
Maintenance Providers, enter into a separate letter agreement with each Maintenance Provider in
substantially the form attached hereto as Exhibit E (individually a “Maintenance
Letter” and collectively, the “Maintenance Letters”).

Agreement

ACCORDINGLY, the Parties to this Agreement agree as follows:

	I.	 	General.

	 	A.	 	Inconsistencies; Incorporation of Recitals. In the case of
inconsistencies between this Agreement and any other agreements between Wells Fargo and
Client that deal with the subject matter of this Agreement (including Wells Fargo
account agreements), the terms of this Agreement shall prevail. The Recitals set forth
above are incorporated herein by reference as part of this Agreement.

	 	B.	 	Effect of non-Business Days on deadlines. If any deadline specified in
this Agreement falls upon a non-Business Day, such deadline shall be extended to the
next day that is a Business Day.

	 	C.	 	Recovery Plan. The provisions of the current cash retrieval and
disaster recovery plans attached hereto as Exhibit F (“Recovery Plan”)
are incorporated in and supplement the terms of this Agreement. The locations and
delivery times of Wells Fargo Network Locations and other information in the cash
recovery plan attached as Exhibit F will be supplemented or otherwise restated
monthly based upon updated information from Client and upon Client’s addition or
deletion of a Covered Machine. Any other supplements or restatements of the Recovery
Plan shall become effective only upon the prior written consent of Client.

 

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	 	D.	 	Covered Machines. The current list of Covered Machines is set forth in
Exhibit A. Subject to Section I.F. below, Client may (i) upon five
Business Days prior written notice to Wells Fargo, delete Machines listed as Covered
Machines (such deletion to be effective only after all Cash is removed from the Covered
Machines by the Armored Carrier) or (ii) add new Covered Machines to Exhibit A
from time to time upon written notice to Wells Fargo according to the procedure set
forth in this Paragraph. If the new Covered Machines can be serviced by an existing
Wells Fargo Network Location and the aggregate number of Covered Machines being added
does not exceed 10, Client will provide Wells Fargo fourteen calendar days’ prior
written notice of the change. If the new Covered Machines will require a new Wells
Fargo Network Location or if the aggregate number of Covered Machines being added
exceeds 10 but is less than 50, Client will provide Wells Fargo 30 calendar days’ prior
written notice of the change. If the aggregate number of new Covered Machines equals
or exceeds 50, Client will provide notice to Wells Fargo and the parties will work
together to establish a reasonable time frame within which the new Covered Machines
will be added. Wells Fargo agrees to supply the Cash to the new Covered Machines in
the continental United States from the nearest Wells Fargo Network Location. Wells
Fargo will respond to Client’s request for a new Wells Fargo Network Location in
writing within 10 Business Days of Client’s request to add new Covered Machine(s), and
such response will indicate the proposed Wells Fargo Network Location that Wells Fargo
intends to use to supply the Cash to the new Covered Machine(s). Client will respond
in writing to Wells Fargo within 10 Business Days, either approving or rejecting the
proposed Wells Fargo Network Location for the proposed Covered Machine(s) and
describing the reasons for a rejection. If Client rejects the proposed Wells Fargo
Network Location(s) for a proposed Covered Machine(s), Client may supply the new
Machine(s) with currency and coin from another source, and such new Machine(s) shall
not be added to Exhibit A as a Covered Machine(s). Notwithstanding any other
provision to the contrary, any Covered Machines being added during the first or last
week of a month (the “Freeze Period”) will be done solely on a best efforts basis. In
no event will Work be performed for Covered Machines except by Wells Fargo.

	 	E.	 	Exceptions. For avoidance of doubt and in addition to any exclusions
set forth in this Agreement, the Parties agree that nothing herein shall be deemed to
prohibit Client from procuring currency and coin for the Covered Machines from any
source other than Wells Fargo if Wells Fargo is unable to provide Cash (on account of a
Force Majeure Event or otherwise) so long as (i) any Cash is first removed from the
applicable Covered Machine (at which time the Machine will be deleted from Exhibit
A), and (ii) Cash is never commingled with currency or coin of Client or any other
person or source.

	 	F.	 	Annual Covered Machines Count. On the Effective Date and on each May 1
during the term hereof, Client will provide to Wells Fargo a forecast of the number of
Machines that will be Covered Machines during the following calendar year.

 

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	II.	 	Contract Cash Services; Work.

	 	A.	 	Wells Fargo’s General Obligation to Supply Cash. Subject to the terms
of this Agreement, Wells Fargo agrees to furnish or cause to be furnished all United
States currency in denominations and that either is new or is in a physical condition
suitable for dispensing from a Machine in the amounts to be ordered by Client, on
behalf of Client or any of its affiliates (such new or ATM fit United States currency
as provided or arranged by Wells Fargo, the “Cash”).

	 	B.	 	Orders. Subject to Section II.C below, Wells Fargo agrees to supply
(or cause to be supplied) all of the Covered Machines with adequate Cash to meet
Client’s Cash order requests for each of the Covered Machines. Prior to the date that
Wells Fargo begins supplying Cash under this Agreement, Client will provide Wells Fargo
with a forecast of Cash needed per Wells Fargo Network Location and denomination to
meet operating activities and Wells Fargo and Client acknowledge and agree that Client
has provided an initial forecast of Cash needed prior to the Effective Date. Client
will also provide at least ten calendar days’ prior written notice of the forecasted
amount and denomination of Cash needed per Wells Fargo Network Location to accommodate
holiday spikes, new locations and increased activities. Client shall give Wells Fargo
an order for Cash by the time(s) designated for each Wells Fargo, Cash Supplier,
Federal Reserve or other vault location (each a “Wells Fargo Network
Location”). Client shall specify the amount and denomination of Cash to be
supplied in the manner required under Wells Fargo’s cash vault ordering requirements.
In the event that any applicable Wells Fargo Network Location cannot supply a Client
with the volume of adequate Cash required to meet each Cash order for the Covered
Machines, Wells Fargo shall use commercially reasonable efforts to obtain from other
sources as much of such Cash as is practicable to fill Client’s order.

	 	C.	 	Maximum Amount of Cash to be Supplied. The aggregate total of Cash to
be provided by Wells Fargo under this Agreement shall at no time exceed $400 Million
Dollars including (i) all Cash with Armored Carriers, (ii) all Cash in Covered
Machines, and (iii) all payments owed by Servicers, including any amount to be
reimbursed by way of credit to the Settlement Account in immediately available funds,
net of all adjustments, chargebacks, representations and other corrections to all
transactions under the Servicing Agreements (the “Maximum Available Amount”);
provided, however, Wells Fargo acknowledges that Client may require Cash not to exceed
$50 Million Dollars in excess of the Maximum Available Amount (the “Additional
Requested Amount”) for a particular calendar day (e.g. New Year’s Eve), on an
occasional basis but in no event more than four times in any calendar year, and in such
a situation, Client shall use best efforts to notify Wells Fargo with reasonable
advance notice of the anticipated calendar day and the anticipated amount of the
Additional Requested Amount”) and Wells Fargo shall provide the Maximum Available
Amount and shall use best efforts to provide Cash in an amount equal to the Additional
Requested Amount.

 

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	 	D.	 	No Commingling of Cash. Client agrees that during the term of this
Agreement
the only currency to be placed in any of the cash cassettes used for dispensing
currency from a Covered Machine shall be Wells Fargo’s Cash. This restriction on
commingling applies irrespective of whether Client intends to supply currency to a
particular Covered Machine from another cash provider and regardless of whether
Wells Fargo failed to supply the Covered Machine or otherwise.

	 	E.	 	Cash May Only be Used in Covered Machines. Client agrees that at no
time will Cash (i) be used or placed in Machines other than the Covered Machines, or
(ii) be used for a purpose other than dispensing currency needs at the Covered
Machines.

	 	F.	 	Work. Subject to the terms and conditions hereof, Wells Fargo will
provide Work for the Covered Machines during the term of this Agreement in a manner
consistent with the terms of this Agreement.

	 	G.	 	Third-Party Premises. Except as otherwise provided below, all
agreements between Client and its affiliates and their respective customers
(“Customer(s)”) for the placement of a Machine on such Customer’s premises (each a
“Machine Placement Agreement”) shall comply with the following requirements
before such Machine shall be deemed a Covered Machine:

	 	1.	 	Ownership of Cash. The Machine Placement Agreement, or
equivalent agreement, shall not grant any ownership interest or other right to
Customer in and to the Cash contained in the Covered Machines.

	 	2.	 	Wells Fargo Access to Covered Machines. At least
between the hours of 8:00 a.m. and 5:00 p.m. local time and such additional
time periods that a Customer may deem to be its normal business hours (and
upon reasonable request during non-business hours), Wells Fargo, and its
authorized agents, shall be permitted by a Customer to enter on the premises on
which the Covered Machines are located to inspect the Covered Machines, deliver
Cash to and retrieve Cash from the Covered Machines, supervise and/or inspect
the servicing and repair of Covered Machines and otherwise protect Wells
Fargo’s interest in the Cash contained in the Covered Machines; subject to a
Customer’s licensing and security policies and procedures regarding vendors
performing services on a Customer’s premises.

	 	3.	 	Third-Party Access to Cash Prohibited. The Machine
Placement Agreement shall not allow or grant Customer any right to access the
Cash in any Covered Machine without the express written consent of Client.

 

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	III.	 	Plan and Procedures. To ensure repayment of the Cash dispensed from the Covered
Machines (the “Dispensed Cash”) and to enable Wells Fargo to perform the Work, the
Parties agree to the settlement, and balancing and processing procedures set forth below:

	 	A.	 	Pilot Period and Pilot Machines. Before the Work begins under this
Agreement, Wells Fargo and Client agree that Wells Fargo will conduct a test pilot of
Contract Cash Services (the “Pilot”) at one or more mutually agreed upon locations
covering a mutually agreed upon number of Machines. The Pilot will commence as soon
as possible after the execution of this Agreement by the Parties and will terminate
on November 29, 2010, unless an extension is separately agreed to in writing by the
Parties. The aggregate total of Cash to be provided during the Pilot shall at no
time exceed $4 million including (i) all Cash with Armored Carriers, (ii) all Cash
in Pilot Machines, and (iii) all payments owed by Client in accordance with Exhibit
G hereto. Client agrees to use commercially reasonable efforts to cause any
required third parties to fully cooperate with Well Fargo in connection with the
Pilot. With respect to any Cash dispensed from any Machine during the Pilot, the
Parties agree to the settlements and reconciliation procedures set forth on Exhibit
G attached hereto. The Pilot may be terminated (i) by either Party for convenience
upon notice to the other Party; or, (ii) immediately upon notice by Wells Fargo to
Client in the event Client fails to pay the settlement for the Pilot Cash as set
forth in Exhibit G. The Parties agree that the Pilot Machines shall be Covered
Machines for the purposes of this Agreement and the rights and responsibilities of
the Parties during the Pilot shall be governed by the terms of this Agreement except
as such terms are modified specifically for the Pilot in this Section or in Exhibit
G.

	 	B.	 	Commencement. The settlement procedures for Covered Machines shall
become effective on a date to be agreed upon in writing by the Parties (the
“Settlement Start Date”). The Settlement Start Date shall be the date the
Wells Fargo currency is placed in the cash cassette at one or more of the initial
Covered Machines, or is in the Armored Carrier’s vault or is in transit with the
Armored Carrier, in each case intended for use in such Covered Machines (the
“Starting Cash”). The Starting Cash shall be effected as orders are placed and
Cash is dispensed from each Covered Machine, and as Cash is in the Armored Carrier’s
vault or is in transit with the Armored Carrier, in each case intended for use in
Covered Machines.

	 	C.	 	Daily Reports.

	 	1.	 	By 7:00 a.m., Central Time, on each Business Day, Client shall
deliver to Wells Fargo daily reports (“Daily Reports”) as follows:

	 	a.	 	File 1. A report (a “File 1
Report”) that provides the amount of Cash dispensed from each
Covered Machine between 3 p.m. Pacific Time (the “Beginning Measurement
Time”) through settlement, which is 3:00 p.m. Pacific Time of the
immediately preceding Business Day (“Daily Dispensed Cash”);
and

	 	b.	 	File 2. A report (a “File 2
Report”) that provides the amount of Cash dispensed from each
Covered Machine serviced since the preceding Business Day from the
Beginning Measurement Time until such Covered Machine was serviced and
cash cassettes swapped by the Armored Carrier on the immediately
preceding Business Day.

 

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	 	2.	 	Armored Carrier Service Report. Utilizing the iCom
Reporting System selected by Wells Fargo, by 12:00 p.m. local time (unless an
exception is granted in writing by Wells Fargo) on each Business Day, the
Armored Carriers shall deliver to Wells Fargo a report reflecting each Covered
Machine serviced and the Cash balance in each Covered Machine at the time of
service (together with corrections and adjustments input in such system, the
“Service Report”). Service Reports shall be used by Wells Fargo as
part of the reconciliation process contemplated hereby. Wells Fargo will
provide, without additional cost to Client, training for agreed upon systems
changes.

	 	3.	 	Daily Report by Wells Fargo. By 4:00 p.m. Pacific Time
on each Business Day (provided Wells Fargo has timely received all reports and
information provided for hereunder from third-parties), Wells Fargo shall
deliver to Client daily reports (each a “Bank Report”) in substantially
the form attached hereto as Exhibit H which provides daily information
for the Covered Machines. Reports will be for the activity occurring two
Business Days prior to the current date.

	 	4.	 	Daily Report of Transfer Activity. By 11:00 a.m. Pacific Time
on each Business Day, Wells Fargo shall deliver to Client a report detailing
funds transfers between the Settlement Account and the Operating Account (the
“Funds Transfer Report”).

	 	5.	 	Other Reports. Client shall provide access and passwords to
Wells Fargo, when and as needed by Wells Fargo to satisfy its agreement to
provide Work hereunder, so that Wells Fargo can determine load amounts (as well
as expected return) by Machine. All information will be in an electronic file
format readily usable by Wells Fargo.

	 	D.	 	Settlement Accounts. The Wells Fargo account designated by WF to
Client separately in writing shall be used as the settlement account (the
“Settlement Account). Wells Fargo may from time to time designate a different
account to be used as the Settlement Account by giving 30 Business Days prior written
notice to Client.

	 	E.	 	Settlements. All settlements with Servicers or Client for Dispensed
Cash shall be effected by wire transfer directly into the Settlement Account. By 9:00
a.m., Pacific Time, on each Business Day, Client shall wire transfer into the
Settlement Account an amount equal to the difference, if any, between the Daily
Dispensed Cash and the amounts received from Servicers on such Business Day. At or
after 1:00 p.m. Pacific Time each Business Day, Wells Fargo shall debit the Settlement
Account for an amount not to exceed the Daily Dispensed Cash for the previous day and
thereafter shall either (i) credit the Operating Account by the amount, if any, by
which the balance in the Settlement Account prior to debit exceeds the Daily Dispensed
Cash or (ii) debit the Operating Account by the amount, if any, by which the balance in
the Settlement Account is negative. For the avoidance of doubt, the Parties agree that
the provisions of this Section shall be suspended in the event and during the period of a temporary system failure that may not rise to
the level of a Force Majeure Event, but nonetheless prevents Client from making
payments of Cash Settlement, provided that Client notifies Wells Fargo of the reason
for such failure and provides Wells Fargo with supporting documentation
substantiating the reason for such failure.

 

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Client hereby acknowledges and understands that it is completely responsible for any
loss to Wells Fargo as the result of the misrouting of Dispensed Cash by any network
processor, whether or not a Servicer.

	 	F.	 	Viewing of Settlement Accounts. Client shall have viewing access to
the Settlement Account until Final Settlement occurs. “Final Settlement”
means, with regards to the Parties, Servicers, Armored Carriers, the Maintenance
Providers, and each and every other related party, the closing settlement of the
Settlement Account and the Operating Account, including all fees and expenses, all Cash
and other funds, and all obligations and duties owed which are subject to this
Agreement, at the time of the expiration or termination of this Agreement.

	 	G.	 	Reconciliation.

	 	1.	 	Ongoing Reconciliation. Following receipt of the Daily
Reports each Business Day, Wells Fargo shall endeavor to reconcile all
out-of-balance amounts of Cash from the amounts reported in the Daily Reports
and the Service Reports. If at any time Wells Fargo learns that Cash is
out-of-balance (by use of the Bank Reports or otherwise), Wells Fargo shall
notify Client of the imbalance within five days of such discovery, and within
60 days of the Business Day on which the Machine was out-of-balance, Wells
Fargo shall credit or debit, as applicable, the Operating Account for any
remaining overage or shortage.

	 	2.	 	Final Reconciliation. The Parties will use
commercially reasonable efforts to complete a final reconciliation of Cash
amounts upon termination or expiration of this Agreement within 10 Business
Days after the effective date of such termination or expiration.

	 	H.	 	Client Operating Account. Client shall designate a Wells Fargo deposit
account as their operating account (the “Operating Account”). The Operating
Account shall be used for (i) all credits and debits of imbalances, and (ii) for debit
by Wells Fargo of fees owing pursuant to this Agreement. Client may designate a
different account at Wells Fargo to be used as the Operating Account from time to time
upon 30 Business Days’ prior written notice to Wells Fargo.

	 	I.	 	Business Day. “Business Day” shall mean any day other than
weekends or holidays observed by the Federal Reserve Banks or Wells Fargo, and with
respect to each Covered Machine, the Cash Supplier that is making Cash available to
such Covered Machine.

 

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	IV.	 	Risk of Loss.

	 	A.	 	Risk of Loss — Cash in Covered Machines. As between Wells Fargo and
Client, Client shall bear all risk of loss and all liability with respect to the Cash
during the time the Cash is located in the Covered Machines, including, but not limited
to, loss due to theft or destruction of any of the Cash (whether or not such theft or
destruction is due to an event beyond Client’s reasonable control), malfunction of
equipment, or misfeasance or malfeasance of Client, Maintenance Provider, and their
agents or employees. Notwithstanding the foregoing, Client shall not be liable or
responsible for any loss of Cash:

	 	1.	 	to the extent due to the intentional acts or omissions of Wells
Fargo, its agents, or employees;

	 
	 	2.	 	where specifically provided otherwise herein;

	 	3.	 	before Cash ordered under this Agreement has been picked up by
an Armored Carrier.

	 	B.	 	Risk of Loss — Cash In Possession of Wells Fargo or a Wells Fargo Network
Location. As between Wells Fargo and Client, Wells Fargo shall bear all risk of
loss with respect to Cash both (1) after such Cash has been returned to a Wells Fargo
Network Location, and (2) before such Cash has been picked up by an Armored Carrier
pursuant to Client’s order for the ultimate purpose of supplying a Covered Machine.
The foregoing risk of loss includes without limitation, loss due to theft or
destruction of any of the Cash (whether or not such theft or destruction is due to an
event beyond Wells Fargo’s reasonable control), malfunction of Wells Fargo equipment,
or misfeasance or malfeasance of Wells Fargo, its agents or employees.

	 	C.	 	Risk of Loss — Cash in Possession of Armored Carrier. Except as
otherwise provided herein, as between Wells Fargo and Client, Client expressly assumes
and agrees to indemnify Wells Fargo for any and all liability with respect to a Cash
shortage, or loss, theft, disappearance, robbery, or destruction of any of the Cash
during the time the same is (or should be) in the possession of an Armored Carrier
until it is returned to a Wells Fargo Network Location.

	 	1.	 	Notwithstanding the foregoing, Client shall not be liable to
Wells Fargo for any loss, theft, or destruction of the Cash to the extent due
to the gross negligence or intentional misconduct of Wells Fargo, any Cash
Supplier or their respective agents or employees. Nothing herein shall be
deemed to relieve an Armored Carrier of its responsibilities with regard to the
Cash.

 

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	 	2.	 	Wells Fargo shall assign to Client all of Wells Fargo’s rights
to collect any Cash losses, theft or destruction from the Armored Carrier upon
collection by Wells Fargo from Client for such losses, theft or destruction.
Wells Fargo shall use commercially reasonable efforts to cooperate with, and
assist, Client in collecting such unpaid amounts after such assignment,
including providing Client with any evidence of the claimed shortage, loss,
theft or destruction. All such efforts by Wells Fargo shall be at Client’s
expense.

	 	3.	 	Notwithstanding anything to the contrary herein, any risk of
loss during redelivery upon a Wells Fargo Event of Default of the Cash shall be
borne by Wells Fargo, provided that Client shall remain liable for Cash
shortages in the Covered Machines prior to pick-up. Nothing herein shall be
deemed to relieve an Armored Carrier of its responsibilities with regard to the
Cash.

	 	D.	 	Risk of Loss — Nonpayment by Servicer. Client agrees to indemnify and
hold Wells Fargo harmless from, for, and against non-payment or any losses from
nonpayment by any Servicer.

	V.	 	Ownership of Cash.

	 	A.	 	Cash Remains the Property of Wells Fargo. Wells Fargo shall have
absolute ownership, title and control of all of the Cash used in the Covered Machines
at all times. No ownership of the Cash or payments owing from Servicers for Dispensed
Cash shall accrue, transfer, or otherwise inure to Client or any other person. Client
and Wells Fargo agree that:

	 	1.	 	all of the Cash shall remain the property of Wells Fargo, and
Wells Fargo shall have all right, title, and interest in and to the Cash and
may treat the Cash as its asset until such time as it is dispensed from any of
the Covered Machines in a cash dispensing transaction; and

	 	2.	 	none of the Cash shall at any time become the property of
Client, or any other person until such time as it is dispensed from any of the
Covered Machines in a cash dispensing transaction.

Client shall take no action inconsistent with the terms of this Agreement or the
intent of the Parties that all Cash provided to an Armored Carrier by a Wells Fargo
Network Location, regardless of physical location, remains the property of Wells
Fargo until it is dispensed from the Covered Machines or surrendered by the Armored
Carrier to a Wells Fargo Network Location as set forth in this Agreement.

 

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	 	B.	 	No Client or Third-Party Interest in Cash. It is expressly agreed
between the Parties that neither Client nor any other person or entity has any
possessory or ownership rights to the Cash or Receivables (as defined in the Servicer
Letters) under Section 362 of the Bankruptcy Code or otherwise. It is expressly
understood that no other financial institution, including without limitation, any Cash
Supplier, can utilize the Cash to satisfy its own reserve requirements. Neither
Client, nor any other person (other than an Armored Carrier and the Maintenance
Providers for purposes of maintenance of the Covered Machines pursuant to the
Maintenance Contracts) shall have any access to, or use of, any of
the Cash after delivery of the same to Armored Carrier, whether during
transportation or storage by Armored Carrier or while it is stored in the vaults of
the Covered Machines, except as such use relates to the dispensing of any of the
Cash in a cash dispensing transaction from one of the Covered Machines. Once any of
the Cash is delivered to Armored Carrier, it shall only be transported or stored by
Armored Carrier and finally placed in one of the Covered Machines or handled by the
Maintenance Providers in a way that is consistent with the terms of the Maintenance
Contracts. Under no circumstances shall Client hold itself out as the owner of the
Cash or in any way represent to any person or entity that it owns the Cash.

	 	C.	 	Redelivery. Client can initiate a redelivery of Cash upon a Wells
Fargo Event of Default or a Termination Trigger Event invoked by Client, and Wells
Fargo can initiate redelivery of Cash upon a Client Event of Default or a Termination
Trigger Event invoked by it.

	VI.	 	Armored Carrier Service.

	 	A.	 	Armored Carrier — General. Each Armored Carrier selected to handle the
Cash, including all loading of any of the Cash into any of the Covered Machines, shall
be a duly qualified armored car operator, selected by Client (and reasonably acceptable
to Wells Fargo) and contracted for by Client. Client may replace any Armored Carrier
only upon prior written notice and with Wells Fargo’s express written consent which may
not be unreasonably withheld, conditioned or delayed, Client will provide at least 30
days prior written notice to Wells Fargo prior to such replacement, but in no event
later than is reasonably necessary to ensure that the replacement Armored Carrier is a
duly qualified armored car operator. For avoidance of doubt, a “duly qualified armored
carrier operator” is one that is properly licensed, has provided to the Wells Fargo
Network Locations a signature list of those authorized to pick up Cash and the photos
of whom are on file, for whom an authorization letter is on file from Client indicating
what actions Wells Fargo is to take with respect to a particular Armored Carrier, whose
trucks, uniforms and other identifications match and who otherwise meets the security
and operational standards of such Wells Fargo Network Locations. Wells Fargo will use
commercially reasonable efforts to assist Client to transition from any Armored Carrier
who Wells Fargo determines is no longer a “duly qualified armored car operator” to
another Armored Carrier.

	 	B.	 	Cash Held by Armored Carrier. Client shall contractually obligate
Armored Carrier to segregate Cash held by Armored Carrier from all other currency and
coin until such time as the Cash is required to be placed in specific Covered Machines
or until it is requested to be returned to Wells Fargo and to meet the standards set
forth in Section VI.A above.

 

11

 

	 	C.	 	Covered Machine Access. No employee of Armored Carrier shall have the
authority to access the Cash stored in any Covered Machine, except as provided below.
The only parties having authorized access to the Cash stored in the Covered Machines
shall be (i) Armored Carriers for the purposes of loading Cash
in, or removing Cash from, the Covered Machines, as provided in the Armored Carrier
Contracts, (ii) Armored Carriers for purposes of redelivery of the Cash to Wells
Fargo Network Locations pursuant to this Agreement, and (iii) the Maintenance
Providers for purposes of Machine maintenance as set forth in the Maintenance
Contracts.

	 	D.	 	Responsibilities. Wells Fargo and Client each agree that they shall
not conceal or misrepresent any material fact or circumstance concerning the Cash
delivered to Armored Carrier pursuant to this Agreement and the Armored Carrier
Contracts.

	 	1.	 	Wells Fargo agrees to supply all the Cash to Armored Carrier
directly through any of the applicable Wells Fargo Network Location(s) in a
sealed or locked bag, together with a shipping document verifying the value of
the Cash in the bag. The value of the Cash set forth in such shipping document
that accompanies the release by the applicable Wells Fargo Network Location of
any sealed or locked bag shall be conclusively deemed the amount of the Cash
invoiced. Client’s contract with each Armored Carrier shall, in the event of
any reportable shortage claimed in the contents of a sealed or locked cash bag
received by Armored Carrier from the Wells Fargo Network Location, obligate
Armored Carrier to promptly notify Client and Wells Fargo of the shortage.
With respect to cash bags received from the Federal Reserve Bank or a Cash
Supplier, each such contract shall also obligate the Armored Carrier to (i)
provide reasonable assistance to Wells Fargo in presenting difference claims to
the relevant Federal Reserve Bank or Cash Supplier in accordance with Federal
Reserve Bank regulations or operating circular, if any; and (ii) comply with
any requirements imposed by the Federal Reserve Bank or the relevant Cash
Supplier in connection with the reporting of such shortages. In the event that
such difference cannot be resolved, Wells Fargo and Client will in good faith
attempt to resolve the difference between them. If such efforts are
unsuccessful (i) with respect to sums which Client claims in writing are owed
to it, within 60 days of receipt of the claim by Wells Fargo, or (ii) with
respect to sums which Wells Fargo claims in writing are owed to it, within 60
days of receipt of the claim by Client, the parties agree to resolve the issue
in accordance with the arbitration provisions of this Agreement. The parties
will from time to time mutually agree upon any minimal differences that need
not be reported and such threshold amounts that must be reported on a same-day
or next-Business-Day basis.

	 	E.	 	Armored Carrier Letter Agreements. Prior to utilizing any Armored
Carrier, each Client, Wells Fargo and the Armored Carrier shall enter into an Armored
Carrier Letter Agreement substantially in the form set forth in Exhibit D.

 

12

 

	 	F.	 	Vault Security. Wells Fargo shall inform Client in writing of any
regulatory requirements imposed upon Wells Fargo with respect to security measures that
are applicable to the maintenance of the Cash in each Armored Carrier’s vault
facilities. Client shall promptly but in no event more than two Business Days
communicate such information to each Armored Carrier. Client shall take
commercially reasonable steps to ensure that each Armored Carrier agrees to
comply with any such regulatory requirements.

	VII.	 	Fees.

	 	A.	 	General. Client agrees to pay Wells Fargo the fees for the Work
calculated in accordance with the terms of a separate fee letter between Wells Fargo
and Client (the “Fee Letter”), which is hereby incorporated into this
Agreement, and which may be amended after the initial term of this Agreement as
provided herein. Following the initial term of this Agreement, Well Fargo may change
the fees for the Work with respect to any renewal term by providing Client with written
notice of such fee changes at least 120 days prior to the commencement of such renewal
term and Client is free to accept such changes or terminate this Agreement; and
provided further that Wells Fargo may only change such fees once with respect to each
applicable renewal term. For the avoidance of doubt, it is understood and agreed that
the fees referenced in this Section are the fees for the Work only and do not include
any fees charged for other services provided by Wells Fargo to Client.

	 	B.	 	Taxes. Client shall pay or reimburse Wells Fargo for any applicable
taxes levied, imposed or assessed upon Wells Fargo as a result of its provision of Cash
to Client under this Agreement, excluding personal property taxes assessed against or
payable by Wells Fargo (except for taxes relating to personal property owned by
Client), taxes based upon Wells Fargo’s net income and Wells Fargo’s corporate
franchise taxes. Alternatively to such payment or reimbursement, Client may satisfy
its obligation in this paragraph by providing Wells Fargo with an exemption certificate
that establishes that no tax is due. Wells Fargo shall furnish Client with invoices
showing separately itemized amounts due under this paragraph with respect to applicable
taxes (if any). If Client pays or reimburses Wells Fargo for any taxes pursuant to
this paragraph, Wells Fargo hereby assigns and transfers to Client all of Wells Fargo’s
rights, title and interest in and to any refund for taxes paid. Any claim for refund
of taxes against the assessing authority may be made in the name of Client or Wells
Fargo, or both at Client’s option. Client may initiate and manage litigation brought
in the name of Client or Wells Fargo, or both, to obtain refunds of amounts of taxes
paid under this paragraph. Wells Fargo shall cooperate fully with Client in pursuing
any refund claims, including any related litigation or administration procedures.
Wells Fargo and Client each acknowledge that it is not aware of any taxes owing
contemplated by this Section VII.B with respect to the Cash as of the Effective Date.

	 	C.	 	Costs and Expenses. Client and Wells Fargo each shall be responsible
for any legal and other costs and expenses incurred by it in connection with the
preparation, negotiation and delivery of this Agreement and its Exhibits and any
amendments or waivers thereto.

 

13

 

	 	D.	 	Monthly Servicing Fees and Billing Statement. All fees and charges
payable by Client pursuant to this Agreement will be detailed for Client in a monthly
billing
statement using Wells Fargo’s standard account analysis format which will be
provided to Client on the first Business Day after the 10th of each
calendar month. Such statement shall contain categories of information as set forth
in an Exhibit to the Fee Letter or as otherwise mutually agreed in writing by the
Parties from time to time. Wells Fargo shall debit the Operating Account for all
billed amounts on an agreed-upon day of the month that is no later than the
20th day after delivery of such monthly billing statement. To the extent
that the Operating Account contains insufficient funds to accommodate such debit,
the unpaid amount shall become immediately due and payable upon notice to Client and
Client shall immediately pay the unpaid amount to Wells Fargo.

	 	E.	 	Service Level Adjustments. Adjustments to fees set forth herein may be
made under the following circumstances:

	 	1.	 	If Wells Fargo fails to either (i) provide Cash for any
particular Covered Machine pursuant to Section II.A (unless otherwise excused
pursuant to the terms of this Agreement), or (ii) provide Cash as required in
Section II.B. above, then Wells Fargo shall either pay those additional
expenses to Client which have been incurred by Client related solely to the
failure on the part of Wells Fargo to deliver Cash to the Armored Carrier, or
credit such amounts to Client against the above referenced billing statement,
at the election of Wells Fargo.

	 	2.	 	If at any time during the term of this Agreement, the number of
Covered Machines is less than 920 and the average outstanding daily balance of
Cash is less than $225 million during any 90 consecutive day period (the
“Baseline”), Wells Fargo shall be entitled to adjust the fees provided for
hereunder so that its expected fees, yields and returns are at least equal to
those that would have been achieved had the Baseline been maintained.

	VIII.	 	Insurance.

	 	A.	 	Required Insurance. During the initial and any renewal term of this
Agreement, Client, at its sole cost and expense shall, at a minimum, maintain insurance
through a third party insurance provider as described in this Section VIII, as follows:

	 	1.	 	Commercial Crime Policy including coverage for employee
theft/dishonesty/fidelity; Inside the Premises — the theft of money including
disappearance, destruction and robbery; Outside the Premises — the theft of
money, including disappearance, destruction and robbery; Computer Crime with
limits not less than $5,000,000 per loss. Wells Fargo will be included as
joint loss payable under the policy.

	 	2.	 	Errors and Omissions with limits not less than $1,000,000 per
occurrence.

 

14

 

	 	3.	 	Commercial General Liability/Umbrella insurance providing
coverage for premises-operations liability, products-completed operations
liability,
independent contractors liability, personal and advertising and contractual
liability with limits of at least $10,000,000.

	 	4.	 	Statutory workers’ compensation and employers liability
insurance with limits no less than $1,000,000 each accident for bodily injury;
$1,000,000 each accident for disease per employee and $1,000,000 bodily injury
for disease in the aggregate.

	 	5.	 	Comprehensive Automobile Liability Insurance/Umbrella in the
minimum amount of $10,000,000 combined single limits for bodily injury and
property damage covering owned and non-owned hired vehicles.

	 	B.	 	Additional Requirements. In addition, Client agrees that:

	 	1.	 	Client, at the request of Wells Fargo, shall furnish
certificates of insurance to Wells Fargo at the time of the signing of this
Agreement and upon renewal thereafter. Client will ensure that the insurance
carrier and/or Client will provide 10 days advance written notice to Wells
Fargo before termination, change or cancellation takes effect of any coverage
under such policies evident on such certificate, regardless of whether
cancelled by Client or the insurance company.

	 	2.	 	The insurance required hereunder will be primary and
noncontributory to any insurance maintained by Wells Fargo.

	 	3.	 	All of the insurance policies required hereunder will be
maintained with companies licensed to do business in the state where the
services will be performed and rated no less than “A-” as to policy holder’s
rating in the then current edition of Best’s Insurance Guide (or with an
association of companies each of the members of which are so rated).

	 	4.	 	Client will add Wells Fargo as an additional insured to
Client’s commercial general/umbrella liability and automobile/umbrella
policies.

	 	C.	 	No Relief From Liability. The foregoing requirements as to the types
and limits of insurance coverage to be maintained by Client and any approval or waiver
of said insurance by Wells Fargo are not intended to and shall not in any manner limit
or qualify the liabilities and obligations otherwise assumed by Client pursuant to this
Agreement, including but not limited to the provisions concerning the indemnification
obligations of Client; provided that any amounts paid to Wells Fargo pursuant to
Client’s indemnification obligations shall be reduced dollar for dollar by the amount
of any insurance proceeds that are paid to Wells Fargo pursuant to Section VIII of this
Agreement.

 

15

 

	IX.	 	Default; Termination Trigger Events.

	 	A.	 	Termination Upon Default. Wells Fargo shall have the right to
immediately terminate this Agreement upon written notice to Client in the event of a
Client Event of Default. Client shall have the right to immediately terminate this
Agreement upon written notice to Wells Fargo in the event of a Wells Fargo Event of
Default.

	 	B.	 	Client Events of Default. “Client Event of Default” shall mean
the occurrence and continuance of any of the following events, acts, occurrences or
conditions described in Paragraphs 1 through 8 below, for whatever reason:

	 	1.	 	Any of the following occur: (i) Client shall commence a
voluntary case concerning itself under Title 11 of the United States Code
entitled “Bankruptcy,” as amended from time to time, and any successor
statute or statutes (“Bankruptcy Code”); or (ii) an involuntary case is
commenced against Client under the Bankruptcy Code and the petition is not
controverted within 10 days, or is not dismissed within 90 days after
commencement of the case; or (iii) a custodian (as defined in the Bankruptcy
Code) is appointed for, or takes charge of, all or substantially all of the
property of Client, or Client commences any other proceedings under any
reorganization, arrangement, adjustment of debt, relief of debtors,
dissolution, insolvency or liquidation or similar law of any jurisdiction
whether now or hereafter in effect relating to Client or there is commenced
against Client any such proceeding which remains undismissed for a period of 90
days; or (iv) any order for relief or other order approving any such case or
proceeding is entered; or (v) Client is adjudicated insolvent or bankrupt; or
(vi) Client suffers any appointment of any custodian or the like for it or any
substantial part of its property to continue undischarged or unstayed for a
period of 90 days; or (vii) Client makes a general assignment for the benefit
of creditors; or (viii) Client fails to pay, or states that it is unable to
pay, or is unable to pay its debts generally as they become due; or (ix) Client
calls a meeting of its creditors generally with a view of arranging a
composition or adjustment of its debts; or (x) Client by any act or failure to
act consents to, approves of or acquiesces in any of the foregoing; or (xi)
Client takes any corporate action for the purpose of effecting any of the
foregoing.

	 	2.	 	Any creditor or group of creditors of Client shall attempt for
any reason to levy upon, seize under color of law, attach or make a
bona fide claim against any Cash.

	 	3.	 	Client takes any action or makes any material representation
that is inconsistent with Wells Fargo’s sole and exclusive ownership, title and
control of the Cash.

 

16

 

	 	4.	 	Client defaults in (a) the payment under the terms of any
contract, instrument or document extending a credit facility of $25 Million or
more
pursuant to which Client has incurred any debt or other liability to any
person or entity, including Wells Fargo (each, a “Credit Facility”), or (b)
the performance of any other obligation, or any defined event of default
unrelated to payment, (each, a “Non-payment Default”) under a Credit
Facility, provided that Client shall have 60 days following notice to it by
Wells Fargo to cure a Non-payment Default.

	 	5.	 	Client either (a) breaches any representation, warranty or
covenant in this Agreement (other than failure to make any payments or other
monetary obligations or as otherwise provided herein) and such failure
continues for a period of more than 30 days after Client’s receipt of written
notice from Wells Fargo of such breach, or (b) fails to make timely payments
for Fees upon 15 days notice and opportunity to cure, or (c) fails to make
payments for Cash Settlement for any reason other than a temporary system
failure, or fails to meet any other undisputed monetary obligations (other than
Fees) under this Agreement, and the same continues, not more than once in any
12-month period, for a period of two Business Days if Client notifies Wells
Fargo of the reason for such failure and has provided Wells Fargo with
supporting documentation substantiating the reason for such failure.
Notwithstanding the foregoing, Wells Fargo may terminate the Agreement if at
the conclusion of the applicable cure periods described above Client fails to
pay the Wells Fargo determined estimated settlement amounts into the Settlement
Account for the day(s) of such failure.

	 	6.	 	Inability or failure by Client to deliver the Daily Reports or
to satisfy any reporting, certification, notification or documentation
requirements under this Agreement, in each case where such inability or failure
continues, not more than once in any 12 month period, for a period of two
Business Days if Client notifies Wells Fargo of the reason for such inability
or failure and has provided Wells Fargo with supporting documentation
substantiating the reason for such inability or failure.

	 	7.	 	If any Armored Carrier is unable, for any reason (except as the
result of a Force Majeure Event or due to the malfunction of a Covered
Machine), to obtain independent access to any Covered Machine pursuant to this
Agreement subject to Customer’s licensing and security policies and procedures
regarding vendors performing services on or at a Customer’s premises.

	 	8.	 	Client sells or otherwise transfers all or a substantial
portion of its Covered Machines and the Baseline of Covered Machines is not met
after giving effect to such sale or transfer.

 

17

 

	 	C.	 	Wells Fargo Event of Default. “Wells Fargo Event of Default”
shall mean the occurrence of any of the following events, acts, occurrences or
conditions described in Paragraphs 1 and 2 below, for whatever reason:

	 	1.	 	Any of the following occur: (i) the Office of the Comptroller
of the
Currency (“OCC”), the Federal Deposit Insurance Corporation
(“FDIC”) or any successor regulatory agencies thereto determines
that Wells Fargo is insolvent; or (ii) the OCC or the FDIC appoints a
receiver, custodian or the like or initiates proceedings for relief or other
order for all or any substantial part of its property; or (iii) Wells Fargo
fails to pay, or states that it is unable to pay, or shall be unable to pay,
its debts generally as they become due; or (iv) Wells Fargo calls a meeting
of its creditors generally with a view of arranging a composition or
adjustment of its debts; or (v) Wells Fargo by any act or failure to act
consents to, approves of or acquiesces in any of the foregoing; or (vi)
Wells Fargo takes any corporate action for the purpose of effecting any of
the foregoing.

	 	2.	 	Wells Fargo breaches any representation, warranty or covenant
or fails to perform under this Agreement or any related agreements, and such
breach remains uncured 30 days after Client provides notice to Wells Fargo
describing the alleged breach in reasonable detail. The Parties agree that
Wells Fargo shall be in breach of this Agreement without further right to cure
if it is unable to furnish sufficient Cash to comply with this Agreement at any
time and such failure continues for three or more consecutive Business Days
after written notice from Client, unless applicable regulations specifically
prohibit the furnishing of such Cash or because of Force Majeure Event.

	 	D.	 	Termination Trigger Events. “Termination Trigger Event” shall
mean the occurrence and continuance of any of the following events, acts, occurrences
or conditions described in Paragraphs 1 through 9 below, for whatever reason. This
Agreement may be terminated without penalty upon the occurrence of any of the following
Termination Trigger Events:

	 	1.	 	Immediately upon a Party giving written notice to the other
Parties:

	 	a.	 	in the event that (i) any federal or state
regulatory authority takes any action, including, but not limited to,
the issuance of a ruling, formal or informal opinion, or interpretation
of any kind whatsoever that makes the continued performance of this
Agreement illegal or exposes Wells Fargo to civil penalties, (ii) any
law is adopted or regulation promulgated that makes the continued
performance of this Agreement illegal or exposes Wells Fargo to civil
penalties, or (iii) any law or regulation is interpreted by a court of
competent jurisdiction, any of which, in the opinion of Wells Fargo’s
legal counsel, would prohibit Wells Fargo from providing the Cash to
Client as described in this Agreement, then in such event, Wells Fargo
shall have the right to cancel this Agreement immediately by notifying
Client in writing of its intent to do so;

	 	b.	 	upon cancellation, reduction, or non-renewal of
insurance required to be carried by Client, Armored Carrier, or any
Servicer pursuant
to this Agreement, unless such insurance is replaced by a similar or
better carrier, or unless such new carrier is otherwise reasonably
acceptable to Wells Fargo;

 

18

 

	 	c.	 	upon termination of a Servicer Letter with
respect to the Covered Machines serviced by that Servicer under which
Cash would be dispensed, unless the outgoing Servicer is promptly
(i.e., within 30 days) replaced by a successor service provider (and
the termination of the Servicer is not effective until such successor
service provider is in place) or such service is discontinued by
Client;

	 	d.	 	subject to Force Majeure Event provisions
herein, if a Servicer fails to (i) make payments pursuant to the
applicable Servicer Letter when due on three or more consecutive
Business Days; (ii) satisfy any material regulatory reporting,
certification, notification, or documentation requirements; (iii)
observe or perform any material covenant outlined in its Servicer
Letter, or (iv) meet any agreed-upon performance and financial tests
unless replaced within 90 days by a Servicer reasonably acceptable to
Wells Fargo.

	 	2.	 	With respect to both Client and Wells Fargo, an event or series
of events (a “Change of Control”) by which any “person” or “group” (as
such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent
or other fiduciary or administrator of any such plan) becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act
of 1934, except that a person or group shall be deemed to have “beneficial
ownership” of all securities that such person or group has the right to acquire
(such right, an “option right”), whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of more
than 50% of the equity securities of such Party entitled to vote for members of
the board of directors or equivalent governing body of such Party on a
fully-diluted basis (and taking into account all such securities that such
person or group has the right to acquire pursuant to any option right) and 90
days elapses without Wells Fargo or Client, as applicable, consenting in
writing to such Change of Control or ratifying in writing that an Actual
Termination Date has not occurred and Client has accepted in writing any
changes in pricing proposed by Wells Fargo as a result of such Change of
Control.

	 	3.	 	Subject to the Force Majeure Event provisions hereof,
immediately upon written notice by Client in the event Wells Fargo at any time
does not have the availability of sufficient vault cash to furnish Client with
sufficient Cash as specified by Client or if Wells Fargo has exercised its
right to demand redelivery according to this Agreement.

 

19

 

	 	4.	 	Immediately by Wells Fargo in the event the following
conditions have
not been satisfied by Client prior to the commencement of the Work:

	 	a.	 	No Client Event of Default shall then be existing;

	 
	 	b.	 	All Agreement requirements have been satisfied;

	 	c.	 	Satisfactory review of the material contracts
to the extent not already in Wells Fargo’s possession;

	 	d.	 	Satisfactory review of bonding and insurance
requirements specified herein (which review the Parties agree has been
accomplished and the insurances tendered in writing accepted by Wells
Fargo);

	 	e.	 	Satisfactory regulatory and compliance review; and

	 	f.	 	Such other due diligence and investigation as
Wells Fargo deems necessary.

	 	5.	 	In the event any agreements with a Servicer are terminated by
Client due to a material default of an obligation to process accurate and
timely transmissions under such agreement, Wells Fargo may immediately
terminate the service with respect to the affected Machines and Client shall
immediately reimburse Wells Fargo for any outstanding Cash relating to the
terminated Machines.

	 	6.	 	In the event Client fails to implement, not later than March
31, 2011 (or as may otherwise be agreed to by the Parties in writing before
March 31, 2011), the corrective actions required and as are separately
documented by the Parties, as a result of the November 2010 MSB audit conducted
on Client’s operations by Wells Fargo.

	 	7.	 	In the event Client fails to pass a satisfactory MSB audit
conducted by Wells Fargo of its operations at any time, provided that Client
shall have 45 days following the conclusion of such unsatisfactory audit to
respond and comment and seek a mutually agreeable resolution thereof with Wells
Fargo.

	 	8.	 	Immediately upon notice to Client in the event Client fails to
make payments for Cash Settlement and such failure is a result of a temporary
system failure that may not rise to the level of a Force Majeure Event, but
nonetheless prevents Client from making payment(s), and such failure continues
for a period of three Business Days, if Client notifies Wells Fargo of the
reason for such failure and has provided Wells Fargo with supporting
documentation substantiating the reason for such failure. In addition, in the
event there are excessive temporary system failures resulting in Client’s
failure to make payments for Cash Settlement, Wells Fargo may terminate this
Agreement regardless of whether or not such
failures have continued for a period of three Business Days.

 

20

 

	 	9.	 	In the event of the inability or failure of any Armored Carrier
to deliver required Daily Reports or other documentation requirements under the
Armored Carrier Agreements, and the same continues, not more than once in any
12 month period, for a period of two Business Days, and such failure is not
cured within such two day period, Wells Fargo may immediately terminate the
service with respect to the affected Machines and Client shall immediately
reimburse Wells Fargo for any outstanding Cash relating to the terminated
Machines.

	X.	 	Indemnification; Limitations on Liability.

	 	A.	 	Covered Machines. Subject to the risk of loss provisions set forth in
Section IV and the limitations of liability set forth in Section X.D., Client shall
indemnify, defend and hold Wells Fargo harmless from, for, and against any loss of any
of the Cash, and all adjustments, chargebacks, representments, and other corrections to
all Cash dispensing transactions under the Servicing Agreements or otherwise, however
caused, including, but not limited to, any loss resulting from the operation of the
Covered Machines, including any malfunctions thereof, or losses resulting from actions
of each Armored Carrier, Servicer or Maintenance Provider while performing services on
behalf of Client. Wells Fargo shall promptly notify Client of any regulations or
changes of applicable laws which might affect the terms of this Agreement or a Party’s
obligations hereunder, and if Wells Fargo and Client determine that it is necessary to
amend this Agreement as a result thereof, the parties agree to negotiate in good faith
and execute such an amendment. Notwithstanding the foregoing, but subject to the risk
of loss provisions set forth in Section IV, Client shall have no indemnity liability
hereunder for any claim or loss resulting to the extent that such claim or loss results
from the act or omission of Wells Fargo or its employees, agents, or representatives.

	 	B.	 	Actions of a Party and its Representatives. In addition to the
indemnification set forth in Section X.A. above, each Party agrees to indemnify, defend
and hold harmless the other Party, its officers, directors, and employees from, for,
and against any and all losses, damages, claims, liabilities, penalties (including, but
not limited to, any penalties imposed by any governmental entity or agency), and
expenses (including, but not limited to, to the extent permitted by law, reasonable
attorneys’ fees) suffered or incurred by such other Party as a result of or arising out
of, or attributed, directly or indirectly, to the breach of any obligation under this
Agreement by the indemnifying party, its agents or representatives.

	 	C.	 	Taxes. Client agrees to indemnify, defend and hold Wells Fargo
harmless from, for and against any loss of the Cash or Receivables (as defined in the
Servicer Letters) caused by any loss from Client’s failure to pay taxes, including
local and special assessments and governmental and other charges, as well as all public
and/or private utility charges, of any type or description, that may from time to time
be imposed, assessed and levied against the Covered Machines, against
transactions resulting in dispensed Cash, or against Client.

 

21

 

	 	D.	 	No Consequential Damages. IN NO EVENT WILL ANY PARTY BE LIABLE UNDER
ANY THEORY OF LIABILITY (INCLUDING NEGLIGENCE) FOR ANY INDIRECT, INCIDENTAL, SPECIAL,
PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES OF ANY KIND OR NATURE WHATSOEVER, SUFFERED
BY ANOTHER PARTY OR ITS AFFILIATES, EMPLOYEES OR AGENTS, INCLUDING, WITHOUT LIMITATION,
LOST PROFITS, BUSINESS INTERRUPTIONS OR OTHER ECONOMIC LOSS ARISING OUT OF THE
PERFORMANCE OR NON-PERFORMANCE HEREUNDER, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF
ANY LIMITED REMEDY. For the avoidance of doubt, the Parties agree that the
foregoing limitation does not apply to limit a Party’s obligation to indemnify or
defend the other Party as provided in this Agreement.

	 	E.	 	Acknowledgement. EACH OF THE PARTIES UNDERSTANDS THE LEGAL AND
ECONOMIC RAMIFICATIONS OF THIS SECTION, AND ACKNOWLEDGES THAT THE PROVISIONS OF THIS
SECTION WERE NEGOTIATED BETWEEN THE PARTIES AND THAT SUCH PROVISIONS WERE CONSIDERED BY
EACH PARTY IN DETERMINING THE SPECIFIC RISKS THAT IT ASSUMED IN AGREEING TO ITS
OBLIGATIONS SET FORTH IN THE AGREEMENT, AND THE AMOUNTS OF THE PAYMENTS TO BE MADE
UNDER THE AGREEMENT.

	 	F.	 	Acts or Omissions. It is the understanding and agreement of the
Parties to this Agreement that (i) Wells Fargo shall not be liable for any acts or
omissions on the part of Client or any third party whether with respect to any
transactions generated through Covered Machines or otherwise, and (ii) Client shall not
be liable for any acts or omissions on the part of Wells Fargo or any third party
whether with respect to any transactions under this Agreement or otherwise.

	 	G.	 	Force Majeure. No Party shall be deemed to be in default of any
provision herein or to be liable to another Party for any delay, failure of
performance, or interruption of service arising due to acts or events beyond such
Party’s control including by way of illustration, but not limitation, acts of God,
civil and military authority, terrorism, civil disturbance, war, fires, delay of
Armored Carrier suppliers, interruptions in telecommunications or networking
facilities, or those of its subcontractors for like causes (each a “Force Majeure
Event”). The Parties agree that the provisions of this paragraph do not relieve
them of their respective risks of loss with respect to Cash as set forth in Section IV
of this Agreement.

 

22

 

	XI.	 	Term; Survival; Early Termination Fee.

	 	A.	 	General. The initial term of this Agreement shall begin on the
Effective Date and continue through November 30, 2013 and shall be renewed for
additional one-year periods unless a Party gives at least 90 days’ prior written notice
of its intent
not to renew, provided, however, that each such renewal shall be subject to a
written agreement about pricing and such other terms and conditions to be mutually
agreed upon among the Parties (the “Stated Termination Date”), unless
earlier terminated by a Party as provided in this Agreement (the “Actual
Termination Date”).

	 	B.	 	Redelivery. Upon redelivery as provided in this Agreement, Client
shall be responsible and liable for: (i) collecting and delivering to Wells Fargo all
payments due from Servicers for Dispensed Cash; and (ii) using its best commercially
reasonable efforts to ensure that the Armored Carriers effect redelivery of the Cash in
accordance with the terms of this Agreement. In the event Client terminates the
Agreement as provided herein, Wells Fargo shall use its best commercially reasonable
efforts to effect redelivery and shall not delay or otherwise obstruct the efforts of
Client to transition currency and coin services to another provider and shall provide
commercially reasonable transition assistance to Client if Client has elected to engage
another provider of Cash Services.

	 	C.	 	Survival. Notwithstanding the termination of this Agreement as
provided herein, the obligations of the Parties hereto under (i) Sections II.D, II.E,
III (until Final Settlement), IV, V, VI, VII, VIII, IX, XI and XII shall survive and
continue in full force and effect until such time as all Cash then outstanding has been
returned to Wells Fargo (or reimbursed to Client for any corrective payments of
shortfall or overpayment by Client), all payments due from Servicers for Dispensed Cash
then outstanding have been paid to Wells Fargo, and all fees owing pursuant to the
terms of this Agreement have been paid and (ii) Section X shall survive and continue in
full force and effect until the expiration of the applicable period of limitations.

	 	D.	 	Failure to Furnish Cash. If Client terminates this Agreement because
Wells Fargo is unable to furnish sufficient Cash to comply with this Agreement, the
Cash shall either be redelivered within the timeframe and in the manner mutually
agreed-to between Client and Wells Fargo or transferred via Fedwire to Wells Fargo in
an amount equal to the then outstanding Cash within such timeframe. Wells Fargo shall
be liable for any actual costs incurred by Client in connection with such redelivery.
Subject to Section IV (Risk of Loss) and Section VII.E. (Service Level Adjustments),
Wells Fargo shall not otherwise be liable for any damages incurred by Client on account
of redelivery instituted by Client due to Wells Fargo’s inability to furnish the Cash,
nor shall Wells Fargo be liable for any damages resulting from the inability of
cardholders to use the Covered Machines because they then contain no currency.

	 	E.	 	Certain Costs. Client shall not be liable for the cost of redelivery
as a result of a Wells Fargo Event of Default.

 

23

 

	 	F.	 	Early Termination Fee. In the event this Agreement is, for any reason other
than a Wells Fargo Default or because of Wells Fargo’s election to terminate the
Agreement before the Stated Termination Date when no Client Event of Default exists,
terminated prior to the Stated Termination Date, Client shall pay to Wells
Fargo a termination fee of (i) [***] if such termination occurs during the
first year of the Agreement; or (ii) [***] if such termination occurs during
the second or third year of the Agreement.

	 	G.	 	Purchase Option. Wells Fargo hereby grants Client an option to
purchase the Cash under the following circumstances and subject to the following
conditions: (i) this Agreement is terminated for any reason, (ii) the purchase is
evidenced by a Currency Bill of Sale in form and substance mutually satisfactory to
Client and Wells Fargo and (iii) the purchase is exercised and purchase price paid
immediately at termination.

	XII.	 	Representations Warranties and Covenants.

	 	A.	 	Representations and Warranties of Client. Client represents and
warrants to, and covenants with Wells Fargo as follows (such representations and
warranties being deemed to be made and renewed on each day during the term of this
Agreement):

	 	1.	 	Organization: Client (i) is a duly organized and
validly existing corporation or partnership in good standing under the laws of
the jurisdiction of its formation, (ii) has the corporate or partnership power
and authority to own its property and assets and to transact the business in
which it is engaged or presently proposes to engage and (iii) has duly
qualified and is authorized to do business and is in good standing in every
jurisdiction in which it owns or leases real property or in which the nature of
its business requires it to be so qualified, except to the extent that any
failure to be so qualified, authorized or in good standing does not have a
reasonable likelihood of materially affecting the operations, properties, or
business of Client.

	 	2.	 	Authorization: Client has the corporate or partnership
power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and has taken all necessary action to authorize the
execution, delivery and performance by it of this Agreement. Client has duly
executed and delivered this Agreement, and this Agreement constitutes its
legal, valid and binding obligation, enforceable in accordance with its terms
except as such enforceability may be affected by (i) bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting creditors’ rights generally and (ii) by general
principles of equity (regardless of whether enforcement is sought in a
proceeding in equity or at law).

	 	3.	 	No Conflicts: Neither the execution, delivery or
performance by Client of this Agreement, nor compliance by it with the terms
and provisions hereof, (i) will contravene any applicable provision of any
material law, statute, rule, regulation, order, writ, injunction or decree of
any court or governmental instrumentality, or (ii) will conflict or be
inconsistent with or result in any material breach of any of the terms,
covenants, conditions or provisions of, or constitute a default under, or
result in the creation or
imposition of (or the obligation to create or impose) any lien (except
pursuant to this Agreement) upon any of the property or assets of Client
pursuant to the terms of any indenture, mortgage, deed of trust, agreement
or other instrument to which Client is a party or by which it or any of its
property or assets is bound or to which it may be subject.

 

24

 

	 	4.	 	No Actions: Client represents and warrants that there
are no actions, suits or proceedings pending, to the best of its knowledge, or
threatened with respect to this Agreement or the transactions contemplated
hereby or that adversely affect the ability or capacity of Client, any Servicer
or any Maintenance Provider to perform as agreed-upon hereunder, in its
Servicer Letter or Maintenance Provider Letter.

	 	5.	 	Servicer Contracts: Client represents and warrants
that following notice of any such regulatory requirements from Wells Fargo,
Client shall notify Wells Fargo if Client becomes aware that a Servicer has
failed to conform to any regulatory requirement imposed upon Wells Fargo with
respect to the Cash, the Covered Machines, and any related record keeping or
reporting requirements imposed on Wells Fargo, including, without limiting the
generality of the foregoing, the provisions of the regulations of the OCC, if
any, regarding minimum security devices and procedures and the provisions of
the Bank Protection Act of 1968, as amended, 12 USC § 1881 et seq., as such
provisions relate to automated teller or cash dispensing machines in
off-premises locations.

	 	6.	 	Access to Covered Machines: No employee of Client or
any retail establishment where a Covered Machine is located has access to the
Cash stored in any Covered Machine, except through a cash dispensing
transaction.

	 	7.	 	No Liens: To the best of its knowledge, Client
represents and warrants that the ownership interest of Wells Fargo in the Cash
is and at all times will be free and clear of any and all liens, rights or
claims of all other persons. Client shall defend the Cash against all claims
and demands of a Servicer claiming the same or any interest therein adverse to
Wells Fargo. To the knowledge of Client, no financing statement or other
evidence of lien covering or purporting to cover any of the Cash is on file in
any public office.

	 	8.	 	No Defaults: Client is not currently in default under
or with respect to any contractual obligation that would, either individually
or in the aggregate, reasonably be expected to have a material adverse effect
on Client’s operation of the Machines or its performance under this Agreement.
To the best of Client’s knowledge, no default under or with respect to any
contractual obligation would result from the consummation of the transactions
contemplated by this Agreement or any other document related to this Agreement.

	 	9.	 	Location of Covered Machines: All Covered Machines
owned, leased, operated or managed by Client are and at all times will be at
the business establishments listed on Exhibit A, as modified from time
to time in accordance with this Agreement.

 

25

 

	 	B.	 	Representations and Warranties of Wells Fargo. Wells Fargo represents
and warrants to, and covenants with, Client as follows:

	 	1.	 	Organization: Wells Fargo (i) is a duly organized and
validly existing national bank in good standing under the laws of the United
States of America, (ii) has the corporate power and authority to own its
property and assets and to transact the business in which it is engaged or
presently proposes to engage and (iii) has duly qualified and is authorized to
do business as a bank in every jurisdiction in which it owns or leases real
property or in which the nature of its business requires it to be so qualified,
except to the extent that any failure to be so qualified, authorized or in good
standing does not have a reasonable likelihood of materially affecting the
operations, properties, or business of Wells Fargo.

	 	2.	 	Authorization: Wells Fargo has the corporate power and
authority to execute, deliver and carry out the terms and provisions of this
Agreement and has taken all necessary action to authorize the execution,
delivery and performance by it of this Agreement. Wells Fargo has duly
executed and delivered this Agreement, and this Agreement constitutes its
legal, valid and binding obligation, enforceable in accordance with its terms
except that such enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting creditors’ rights generally and (ii) by general
principles of equity (regardless of whether enforcement is sought in a
proceeding in equity or at law).

	 	3.	 	No Conflicts: Neither the execution, delivery or
performance by Wells Fargo of this Agreement, nor compliance by it with the
terms and provisions hereof, (i) will contravene any applicable provision of
any material law, statute, rule, regulation, order, writ, injunction or decree
of any court or governmental instrumentality or (ii) will conflict or be
inconsistent with or result in any material breach of any of the terms,
covenants, conditions or provisions of, or constitute a default under, or
result in the creation or imposition of (or the obligation to create or impose)
any lien upon any of the property or assets of Wells Fargo pursuant to the
terms of any indenture, mortgage, deed of trust, agreement or other instrument
to which Wells Fargo is a party or by which it or any of its property or assets
is bound or to which it may be subject.

	 	4.	 	No Actions: There are no actions, suits or proceedings
pending or, to its knowledge, threatened with respect to this Agreement or the
transactions contemplated hereby.

 

26

 

	 	5.	 	No Defaults: Wells Fargo is not currently in default
under or with respect to any contractual obligation that could, either
individually or in the aggregate, reasonably be expected to have a material
adverse effect on Wells Fargo’s ability to perform under this Agreement. To
Wells Fargo’s best knowledge, no default under or with respect to any
contractual obligation would result from the consummation of the transactions
contemplated by this Agreement or any other document related to this Agreement.

	 	C.	 	Covenants of Client. Client covenants and agrees with Wells Fargo that
from and after the Effective Date of this Agreement:

	 	1.	 	Further Assurances: Upon the request of Wells Fargo,
and at the expense of Wells Fargo (unless such cooperation is related to a
breach by Client), Client will cooperate with Wells Fargo to the extent Wells
Fargo may reasonably deem necessary in protecting its ownership interest in the
Cash and in the payments from Servicers for Dispensed Cash, and in complying
with applicable laws and regulations.

	 	2.	 	Change of Name or Entity Structure: Client shall
notify Wells Fargo within 30 days of changing its name, jurisdiction of
incorporation, or entity structure or moving its principal executive office
outside of the metropolitan Las Vegas, Nevada area.

	 	3.	 	Right of Inspection: If a discrepancy arises in
connection with the Cash settlement, Client will provide Wells Fargo with
access, during normal business hours and upon reasonable prior notice to Client
to all books, correspondence and records of Client directly relating to the
discrepancy. Wells Fargo and its representatives may examine the same, take
extracts therefrom and make photocopies thereof, at the cost and expense of
Client. Client agrees to render to Wells Fargo, without cost or expense, such
clerical and other assistance as may be reasonably requested with regard
thereto.

	 	4.	 	Compliance with Laws Affecting Cash: Client will
comply in all material respects with all requirements of law applicable to the
Cash or any part thereof; provided however, that Client may contest any
requirement of law in any reasonable manner which shall not adversely affect
Wells Fargo’s rights in the Cash.

	 	5.	 	Electronic Reports; Access: Client will provide any
data deliverable in connection with this Agreement to Wells Fargo in the
agreed-to format and will provide access as required in Section III.C.5 hereof.

	 	6.	 	Negative Pledge: Client will not create, incur or
permit to exist, will defend the Cash against, and will take such other action
as is necessary to remove, any lien or claim on or to the Cash against the
claims and demands of a Servicer or an Armored Carrier (except arising through
or on
account of Wells Fargo).

 

27

 

	 	7.	 	Notice: Upon becoming aware thereof, Client will
promptly advise Wells Fargo, in reasonable detail, in accordance with the
provisions hereof, (i) of any breach under this Agreement, (ii) of any lien on,
or claim asserted against, any of the Cash, and (iii) of the occurrence of any
other event which could reasonably be expected to have a material adverse
effect on the aggregate value of the Cash or on the liens created hereunder.

	 	8.	 	Compliance with Rules and Regulations: Client will
abide by and operate in accordance with all applicable network rules and
regulations and all applicable banking laws and regulations following notice by
Wells Fargo of such rules or regulations. Client will comply with the
applicable regulations of any network processor and all state and federal
regulations, including Regulation E.

	 	9.	 	Notice to Wells Fargo: Client shall deliver to Wells
Fargo, within three Business Days of receipt, a copy of all notices or
correspondence it receives from any third-party relating to the operation of
the Covered Machines or the provisioning of Cash for the Covered Machines that
may materially affect another Party’s performance of its obligations under this
Agreement. Client shall promptly inform Wells Fargo of the location of all
Covered Machines and will advise in advance of any proposed relocation, in each
case in accordance with the terms of this Agreement.

	 	10.	 	Financial Statements: To the extent that Global Cash
Access Holdings, Inc. (“Holdings”), Client’s parent entity, is no longer a
public reporting company under the securities laws of the United States, Client
will, from time to time, deliver to Wells Fargo copies of its quarterly and
annual financial statements and reports as reasonably requested by Wells Fargo,
together with any financial information supporting such financial statements
and reports. Quarterly financial statements will be due within 45 days of the
end of each quarter and annual financial statements within 90 days of the end
of each fiscal year.

	 	11.	 	Maintenance of Records. Client agrees to maintain
sufficient records to permit an audit by Wells Fargo as is necessary for the
settlement of all Cash transactions; provided, however, that neither Client nor
their agents shall be required to maintain records beyond six months unless a
dispute exists or other circumstances reasonably warrant a longer period of
time. Client shall maintain its records as mutually agreed by the Parties in
order to permit Wells Fargo additional information to confirm the contents of
the Daily Reports and to confirm information on a transaction-by-transaction
basis.

 

28

 

	 	D.	 	Covenants of Wells Fargo. Wells Fargo covenants and agrees with Client
that from and after the date of this Agreement:

	 	1.	 	Compliance with Laws Affecting Cash: Wells Fargo will
comply in all material respects with all requirements of law applicable to the
Cash or any part thereof; provided however, that Wells Fargo may contest any
requirement of law in any reasonable manner.

	 	2.	 	Notice: Upon becoming aware thereof, Wells Fargo will
advise Client promptly, in reasonable detail, in accordance with the provisions
hereof, (i) of any breach under this Agreement, (ii) of any lien on, or claim
asserted against, any of the Cash, and (iii) of the occurrence of any other
event which could reasonably be expected to have a material adverse effect on
the aggregate value of the Cash or its agreements hereunder.

	 	3.	 	Compliance with Rules and Regulations: Wells Fargo
will abide by and operate in accordance with all applicable network rules and
regulations and all applicable banking laws and regulations. Wells Fargo will
comply with the applicable regulations of any network processor and all state
and federal regulations, including Regulation E.

	XIII.	 	General Provisions.

	 	A.	 	Counterparts. This Agreement may be executed simultaneously in one or
more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same agreement.

	 	B.	 	Relationship of the Parties. Wells Fargo and Client shall at all times
be deemed to be independent contractors. Except as expressly provided herein to the
contrary, neither Wells Fargo nor Client will have authority to enter into contracts on
each other’s behalf, to hire or fire employees of one another, nor in any way to
obligate each other to any third party.

	 	C.	 	Entire Agreement; Modification. This Agreement, along with the
appendices, exhibits, the Fee Letter, and the addenda referenced herein, constitutes
the entire agreement between Wells Fargo and Client relating to the subject matter
herein and may not be changed orally but only by a written instrument signed by both
Parties. There are no restrictions, promises, warranties, covenants, or undertakings
relating to the subject matter of this Agreement, other than those expressly set forth
or referred to herein. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

	 	D.	 	Assignment. No Party may assign this Agreement to any other person or
business entity without the other Party’s prior written consent; provided, however,
that either Party may assign this Agreement, in whole or in part, with written notice
to the other Party, to its parent company, a wholly owned direct or indirect subsidiary
of the parent company, its affiliate, or subsidiary corporation, provided that such
assignment shall be contingent upon the assigning Party agreeing to continue to
guarantee any and all obligations owed hereunder by such assignee under this Agreement
and the Servicer Letters and shall document such
continuing guaranty in a form acceptable to the non-assigning Parties.

 

29

 

	 	E.	 	Notices. All notices, requests and approvals required by this
Agreement shall: (a) be in writing; (b) be addressed to the Parties as indicated below
unless notice is given in writing of a change in address; (c) be deemed to have been
given when received; and (d) unless otherwise provided in this Agreement, be sent by
certified first class mail, return receipt requested, postage prepaid, or other
receipted express delivery service, or telecopy with written acknowledgment of receipt:

If to Wells Fargo:

Wells Fargo Bank, N.A.

Attn: Olga Wisnicky

3800 Howard Hughes Pkwy, Suite 400

Las Vegas, Nevada 89169

(866) 935-4452 e-fax

With 2nd notice to:

Wells Fargo Bank, N.A.

Attn: Management — Urgent Attention Required

3800 Howard Hughes Pkwy, Suite 400

Las Vegas, Nevada 89169

(702) 791-6365 fax

If to Client:

Global Cash Access, Inc.

3525 E. Post Road, Suite 120

Las Vegas, NV 89120

Attn: General Counsel

Fax: ________________ 

Notices given under this Section may be given by electronic mail provided that both
of the Parties agree to this method of communication for the notices, requests or
approvals for which electronic mail is desired to be used.

	 	F.	 	Governing Law and Venue. This Agreement shall be governed by and
interpreted under the laws of the State of Delaware (“Governing Law”), without
regard to conflicts of laws principles. Subject to the arbitration provisions in
Section XIII.H below, the Parties hereby irrevocably submit to the jurisdiction of any
state or federal court in Las Vegas, Nevada with respect to any action or proceeding
arising out of or relating to this Agreement. Subject to the arbitration provisions in
Section XIII.H below, the Parties hereby consent to and grant to any such court
jurisdiction over the persons of such Parties and over the subject matter of any such
dispute and agree that delivery or mailing of any process or other papers in the manner
provided herein, or in such other manner as may be permitted by law,
shall be valid and sufficient service thereof.

 

30

 

	 	G.	 	Section Headings. The section headings in the Agreement are for
purposes of reference only and shall not limit or affect any of the terms herein.

	 	H.	 	Arbitration.

	 	1.	 	Arbitral Process: Upon the demand of either Party, any
“Dispute” shall be resolved by binding arbitration (except as set forth below
in “Judicial Review of Awards”) in accordance with the terms of this Agreement.
A “Dispute” shall mean any action, dispute, claim, or controversy of
any kind, whether in contract or tort, statutory or common law, legal or
equitable, now existing or hereafter arising under or in connection with, or in
any way pertaining to, the subject matter of this Agreement, or any past,
present, or future activities, transactions, or obligations of any kind related
directly or indirectly to the subject matter of this Agreement, including,
without limitation, any of the foregoing arising in connection with the
exercise of any self-help or any ancillary or other remedies or actions taken
relating to the subject matter of this Agreement. Any Party may by summary
proceedings bring an action in court to compel arbitration of a Dispute. Any
Party who fails or refuses to submit to arbitration following a lawful demand
by any other Party shall bear all costs and expenses incurred by such other
Party in compelling arbitration of any Dispute.

	 	2.	 	Rules Governing Arbitration: Arbitration proceedings
shall be administered by the American Arbitration Association (“AAA”)
or such other administrator as the parties shall mutually agree upon in
accordance with the AAA Commercial Arbitration Rules. All Disputes submitted
to arbitration shall be resolved in accordance with the Federal Arbitration Act
(Title 9 of the United States Code), notwithstanding any conflicting choice of
law provision in this Agreement. The arbitration shall be conducted at a
location in Las Vegas, Nevada selected by the AAA or other administrator. If
there is any inconsistency between the terms hereof and any such rules, the
terms and procedures set forth herein shall control. All statutes of
limitation applicable to any Dispute shall apply to any arbitration proceeding.
All discovery activities shall be expressly limited to matters directly
relevant to the Dispute being arbitrated. Judgment upon any award rendered in
an arbitration may be entered in any court having jurisdiction; provided,
however, that nothing contained herein shall be deemed to be a waiver by either
Party which is a bank of the protections afforded to it under 12 USC § 91 or
any similar applicable state law.

	 	3.	 	Arbitration; Provisional Remedies: Except as otherwise
provided in this Agreement, no provision hereof shall limit the right of either
Party to exercise self-help remedies such as setoff, or to obtain provisional
or ancillary remedies, including, without limitation, injunctive relief,
sequestration, attachment, garnishment, or the appointment of a receiver,
from a court of competent jurisdiction before, after, or during the pendency
of any arbitration or other proceeding. The exercise of any such remedy
shall not waive the right of either Party to compel arbitration hereunder.

 

31

 

	 	4.	 	Arbitrator Qualifications and Awards; Powers: All
Arbitrators shall be selected in accordance with the AAA Commercial Arbitration
Rules. Arbitrators must (a) be active members of the State Bar of Nevada with
expertise in the substantive laws applicable to the subject matter of the
Dispute, (b) not be affiliated with either of the Parties and (c) have at least
five years experience in arbitrating sophisticated commercial contract
disputes. Arbitrators are empowered to resolve Disputes by summary rulings in
response to motions filed prior to the final arbitration hearing. Arbitrators
(i) shall resolve all Disputes in accordance with the Governing Law, (ii) may
grant any remedy or relief that a federal or state court of Nevada could order
or grant within the scope hereof and such ancillary relief as is necessary to
make effective any award, and (iii) shall have the power to award recovery of
all costs and fees, to impose sanctions and to take such other actions as they
deem necessary to the same extent a judge could pursuant to the Federal Rules
of Civil Procedure, the Rules of Civil Procedure of the State of Nevada, or
other applicable law. Disputes less than $5,000,000 shall be decided by a
single arbitrator mutually agreed by the Parties. If the Parties cannot
mutually agree on a single arbitrator within five Business Days of initiation
of arbitration, then the AAA shall select an arbitrator on behalf of the
Parties. Disputes of $5,000,000 or more shall be decided by majority vote of a
panel of three arbitrators; provided, however, that all three arbitrators must
actively participate in all hearings and deliberations. The panel of
arbitrators will be comprised of three arbitrators, with one arbitrator
selected by each of Wells Fargo and Client and the third arbitrator selected by
the two arbitrators chosen by the Parties. If an arbitrator is unable to
serve, his or her replacement will be selected in the same manner as the
arbitrator to be replaced.

	 	5.	 	Judicial Review of Awards: Notwithstanding anything
herein to the contrary, in any arbitration in which the amount in controversy
exceeds $25,000,000, the arbitrators shall be required to make specific,
written findings of fact and conclusions of law. In such arbitrations (i) the
arbitrators shall not have the power to make any award which is not supported
by substantial evidence or which is based on legal error, (ii) an award shall
not be binding upon the parties unless the findings of fact are supported by
substantial evidence and the conclusions of law are not erroneous under the
Governing Law, and (iii) the parties shall have, in addition to the grounds
referred to in the Federal Arbitration Act for vacating, modifying or
correcting an award, the right to judicial review of (a) whether the findings
of fact rendered by the arbitrators are supported by substantial evidence, and
(b) whether the conclusions of law are erroneous under the Governing Law.
Judgment confirming an award in
such a proceeding may be entered only if a court determines the award is
supported by substantial evidence and not based on legal error under the
Governing Law.

 

32

 

	 	6.	 	Arbitration; Other Matters: To the maximum extent
practicable, the AAA, the arbitrators and the Parties shall take all action
required to conclude any arbitration proceeding within 180 days of the filing
of the Dispute with the AAA. No arbitrator or other Party to an arbitration
proceeding may disclose the existence, content or results thereof, except for
disclosures of information by a Party required in the ordinary course of its
business, by applicable law or regulation, or to the extent necessary to
exercise any judicial review rights set forth herein. If more than one
agreement for arbitration by or between the Parties potentially applies to a
Dispute, the arbitration provision most directly related to the subject matter
of the Dispute shall control. This arbitration provision shall survive the
termination of this Agreement.

	 	I.	 	Attorneys’ Fees. In the event either Party to this Agreement shall be
required to initiate legal or arbitration proceedings (a) to interpret or enforce
performance of any term or condition of this Agreement, (b) to enjoin any action
prohibited hereunder, or (c) to gain any other form of relief whatsoever, the
prevailing Party shall be entitled to recover, to the extent permitted by law, in
addition to any other damages or compensation received, reasonable attorneys’ fees and
court costs incurred by it on account thereof notwithstanding the nature of the claim
or cause of action asserted by the prevailing Party. “Attorneys’ fees” includes the
reasonable expense to any corporation of the service of its in-house counsel.

	 	J.	 	Waiver. If a Party waives any of its rights on any one or more
occasions it will not be deemed to be a waiver of that Party’s rights on any other
occasion. No delay on the part of any Party hereto in exercising any right, power, or
privilege hereunder shall operate as a waiver thereof, and no single or partial
exercise of any right, power, or privilege hereunder shall preclude other or further
exercise thereof, or be deemed to establish a custom or course of dealing or
performance between the Parties hereto, or preclude the exercise of any other right,
power, or privilege.

	 	K.	 	No Third Party Beneficiaries. Nothing in this Agreement is intended or
shall be construed to give any person, other than the Parties to or Parties indemnified
under this Agreement, any legal or equitable right, remedy or claim under or in respect
of this Agreement or any provision contained in this Agreement.

	 	L.	 	Remedies Cumulative. The rights and remedies herein expressly provided
are cumulative and may be exercised singly or concurrently and as often and in such
order as the Party entitled to such right or remedy deems expedient and are not
exclusive of any rights or remedies which such Party would otherwise have whether by
agreement or now or hereafter existing under applicable law.

 

33

 

	 	M.	 	Severability. In case any provision in or obligation under this
Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired
thereby.

	 	N.	 	Examinations and Audits.

	 	1.	 	Of Armored Carrier: Client shall take all steps
reasonably necessary to ensure to the satisfaction of Wells Fargo that each
Armored Carrier shall allow Wells Fargo, Client, their respective designees,
and any regulatory or supervisory body to which Wells Fargo or its affiliates
is subject (“Auditors”), access to its facilities that maintain
inventories of the Cash, subject to the terms and conditions of this Section.
Such access shall be for the purpose of allowing the Auditors to perform a
physical audit of the Cash, and shall be permitted on regular Business Days
during the Armored Carrier’s regular business hours at any time without prior
notice, but subject to the Armored Carrier’s regular security policies. The
Auditors must present proper credentials to the manager of the Armored
Carrier’s facilities prior to gaining admission. The Party on whose behalf the
audit is to be conducted (which, in the case of an audit by any regulatory or
supervisory body, shall be the Party subject to the regulation or supervision
of such body) shall indemnify, defend and hold harmless the other Party and the
Armored Carrier from any liability, loss, damage, cost, or expense, including
reasonable attorney’s fees, arising out of any bodily injury, death, or damage
to property sustained by an Auditor as a result of being on the Armored
Carrier’s premises or entering or leaving therefrom, to the extent that such
bodily injury, death, or damage to property does not arise from the negligence
or intentional misconduct of the Armored Carrier or any of its officers,
agents, or employees. In addition, Client (provided the audit is to be
conducted by or on behalf of Wells Fargo) and Armored Carrier shall furnish to
the Auditors their respective records relating to the Cash and the performance
of Client’s obligations under this Agreement. Client (provided the audit is to
be conducted by or on behalf of Wells Fargo) and Armored Carrier shall have the
right to have an employee or agent present at all times during any examination
or audit of their respective records. Armored Carrier shall have the right to
have an employee present at all times during any audit conducted pursuant to
this section.

 

34

 

	 	2.	 	Of Wells Fargo: Wells Fargo shall allow Client or its
designees (“Client’s Auditors”), reasonable access to Wells Fargo’s
records relating to the Cash and the performance of its obligations under this
Agreement for the purpose of allowing the Client’s Auditors to perform a review
of the services provided by Wells Fargo under this Agreement. Such access
shall be permitted on regular Business Days during Wells Fargo’s regular
business hours at times mutually agreed upon by Wells Fargo and the Client’s
Auditor. If Wells Fargo elects to give Client’s Auditors access to
its records on Wells Fargo’s premises, Client’s Auditors may be required to
present proper credentials to the manager of such premises prior to gaining
admission. Client shall indemnify, defend and hold harmless Wells Fargo
from any liability, loss, damage, cost, or expense, including reasonable
attorney’s fees, arising out of any bodily injury, death, or damage to
property sustained by Client’s Auditor as a result of gaining access to
Wells Fargo’s premises or entering or leaving therefrom, to the extent that
such bodily injury, death, or damage to property does not arise from the
negligence or intentional misconduct of Wells Fargo or any of its officers,
agents, or employees. Wells Fargo shall have the right to have an employee
or agent present at all times during any examination or audit of its
records.

	 	3.	 	Of Amounts in Covered Machines: At least monthly,
Armored Carrier shall swap the cash cassettes in and balance each Covered
Machine and report the balances to Wells Fargo using iCom Reporting Systems.
In the event there is a discrepancy between the balances in any Covered Machine
reported by Armored Carrier and the balances reported to Client by Wells Fargo
for those Covered Machines, Wells Fargo shall promptly, and in any event within
5 days following discovery of such discrepancy, report such discrepancy to
Client.

	 	4.	 	MSB Audit of Client: At least annually, and more
frequently if required in Wells Fargo’s sole discretion, Wells Fargo will
conduct an MSB audit of Client’s operations. Wells Fargo will provide
reasonable notice to Client of any such audit. Client agrees to fully
cooperate in any such audit and to make available to Wells Fargo all records
and other information that are requested by Wells Fargo and are necessary for
the Bank to perform such audit.

	 	O.	 	SEC Reporting Requirements. Wells Fargo hereby acknowledges that
Holdings may be required by law to file this Agreement as an exhibit to one or more of
its public filings or reports with the Securities and Exchange Commission and Wells
Fargo consents to the filing of this Agreement as an exhibit to any such report or
filing; provided that Client shall seek confidential treatment with respect to the
amount of fees set forth in Section VII.A of this Agreement for purposes of redacting
such fee information from any public filings or reports filed by Holdings with the
Securities and Exchange Commission.

	 	P.	 	Wells Fargo’s Records Presumed Correct. Except as otherwise expressly
set forth in this Agreement, if at any time during the term of this Agreement there is
a discrepancy between the records of Wells Fargo and the records of Client or any third
party, the records of Wells Fargo shall be rebuttably presumed to be correct.

	 	Q.	 	Construction. The Parties acknowledge that this Agreement was jointly
drafted and the provisions herein shall not be construed against any Party.

 

35

 

	 	R.	 	Wholesaling Prohibited. The services provided under this Agreement to
Client
are intended for the direct benefit of Client and no other person. If at any time
Wells Fargo, in its sole determination, concludes that Cash supplied to a Covered
Machine is in furtherance of a transaction in which the services provided by Wells
Fargo to Client under this Agreement are being directly or indirectly resold to a
third party, Wells Fargo may immediately terminate its obligations under this
Agreement with respect to such Covered Machine.

	 	S.	 	Patriot Act Notice; OFAC and Bank Secrecy Act. Wells Fargo hereby
notifies Client that pursuant to the requirements of the Patriot Act, it is required to
obtain, verify and record information that identifies Client, which information
includes the name and address of Client in accordance with the Patriot Act. Client
will provide such information and take such actions as are reasonably requested by
Wells Fargo in order to assist Wells Fargo in maintaining compliance with the Patriot
Act. “Patriot Act” means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L.
107-56, signed into law October 26, 2001. In addition, Client shall (a) ensure that no
person, firm or entity who owns a controlling interest in or otherwise controls Client
or any subsidiary of Client is or shall be listed on the Specially Designated National
and Blocked Persons List or similar lists maintained by the Office of Foreign Assets
Control (“OFAC”), the Department of Treasury or included in any Executive
Orders, (b) not use or permit to use any funds to violate any of the foreign
asset control regulations of OFAC or any enabling statute or Executive Order relating
thereto, the Bank Secrecy Act, the Money Laundering Act of 1986, or any other law or
legal requirement relating to money laundering, all as amended from time to time, and
(c) comply, and cause its subsidiaries to comply, with all such laws and other legal
requirements.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

36

 

IN WITNESS WHEREOF, each of the Parties hereto has caused this Agreement to be executed on its
behalf by its duly authorized officers, as of the date and year written above.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GLOBAL CASH ACCESS, INC.	 	 	 	WELLS FARGO BANK, N. A.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Scott Betts	 	 	 	By:	 	/s/ Olga E. Wisinicky	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Scott Betts
	 	 	 	 	 	Name:
	 	Olga E. Wisinicky	 	 
	 

	 	Title:
	 	CEO
	 	 	 	 	 	Title:
	 	Vice President	 	 

 

37

 

EXHIBIT A

Covered Machines

See Exhibit F (Recovery Plan) which includes the list of Covered Machines

 

 

 

EXHIBIT B

Servicer Settlement Accounts

	 	 	 	 	 
	Servicer Names	 	 	Settlement Account Number	 
	 
	 	 	 	 
	*
	 	 	*	 
	 
	 	 	 	 
	*
	 	 	*	 

	 	 	 
	*	 	Identified in separate writing between Wells Fargo and Client.

 

 

 

EXHIBIT C

Servicer Letter

(Processor)

[INSERT DATE]

	 	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	Attention:
	 	 	 	 
	 

	 	 

	 	 

Ladies and Gentlemen:

Wells Fargo Bank, National Association (“Wells Fargo”) has entered into, or intends to
enter into, a Contract Cash Solutions Agreement with
 _____ 
(“Client”) (the
“Contract Cash Solutions Agreement”) pursuant to which Wells Fargo shall provide U.S.
currency for the operation of ATM machines owned, operated or managed by Client and listed on
Exhibit A as the same may be supplemented from time to time by joint written notice from Wells
Fargo and Client to Servicer (the “Covered Machines”). Client has also contracted with the
above named addressee (“Servicer”) to perform certain services in connection with the
Covered Machines pursuant to a separate agreement between Servicer and Client (the “Servicing
Agreement”). The purpose of this letter agreement is to set forth certain rights and
obligations of Servicer, Wells Fargo and Client.

	1.	 	Definitions. For purposes of this letter agreement the following words shall have
the corresponding meanings below:

	 	(a)	 	“Cash” shall mean the U.S. currency provided by Wells Fargo for the
operation of the Covered Machines pursuant to the Contract Cash Solutions Agreement.

	 	(b)	 	“Receivables” shall mean, for any period, an amount equal to the total
amount of Cash dispensed from the Covered Machines for any given period for which
Servicer is required to reimburse Wells Fargo pursuant to Section 4 of this Agreement.

	2.	 	Ownership of Cash and Receivables. Notwithstanding that the Cash or the Receivables
may be in the physical possession or custody of a party other than Wells Fargo, Servicer and
Client agree that Wells Fargo shall have absolute control of all of the Cash at all times,
that the Cash and the Receivables are the sole and exclusive property of Wells Fargo and that
Servicer shall not at any time have any interest (including any security interest) in such
Cash or Receivables.

 

 

 

 _____, 20_____ 

Page 2

	3.	 	Access to Cash; Regulatory Requirements. Servicer acknowledges that it has no access
to or control of the Cash and that Servicer shall not, and shall not instruct its agents and
subcontractors (if any) to, physically remove the Cash from Covered Machines or hinder
Wells Fargo’s physical access to the Cash. Servicer shall cooperate with Wells Fargo by
furnishing all information in the possession of Servicer and reasonably required by Wells
Fargo to meet regulatory requirements that Wells Fargo notifies Servicer of in writing.

	4.	 	Settlement of Cash. Wells Fargo maintains depository accounts (each a
“Settlement Account”) which shall be used to settle transactions, including electronic
transfer of funds, that are consummated at the Covered Machines when Cash is dispensed from a
Covered Machine. Servicer’s settlement of transactions with respect to Cash dispensed from a
Covered Machine pursuant to the terms of the Servicing Agreement shall be made by wire
transfer of the required amount of funds in immediately available funds into the appropriate
Settlement Account. Client and Servicer each acknowledges that all Cash dispensing
transactions with respect to the Covered Machines, including all charges with respect thereto,
and all adjustments, chargebacks, representments and other corrections thereto will be settled
to the appropriate Settlement Account. The Settlement Account shall be Wells Fargo account
no. _____. The designation of a Settlement Account may be changed only in writing by
Client and Wells Fargo and Servicer shall not make payment of any settlement amounts
attributable to the Covered Machines to any other account unless so instructed jointly by
Client and Wells Fargo.

	5.	 	No Obligation. Servicer shall have no rights or obligations under the Contract Cash
Solutions Agreement. Wells Fargo shall have no rights or obligations under the Servicing
Agreement. The sole rights or obligations between Servicer and Wells Fargo are set forth
herein.

	6.	 	Term and Termination.

	 	(a)	 	Client shall promptly provide Wells Fargo with notice of any notice of
termination of the Servicing Agreement. This letter agreement shall automatically
terminate upon the termination of the Servicing Agreement or the Contract Cash
Solutions Agreement.

	 	(b)	 	Wells Fargo and Client shall each promptly provide Servicer with notice of any
notice of termination of the Contract Cash Solutions Agreement.

	 	(c)	 	No party shall have liability to the other party for any delay beyond the
control of such party in the provision of notice pursuant to subsections (a) or (b)
above.

	 	(d)	 	Nothing contained herein is intended to alter the provisions for termination of
the Servicing Agreement and the Contract Cash Solutions Agreement found therein, which
termination shall be permissible solely to the extent permitted under the relevant
agreements and pursuant to the terms thereof.

 

 

 

 _____, 20_____ 

Page 3

	7.	 	Representations and Warranties.

	 	(a)	 	Representations of Client. Client represents and warrants to, and
covenants with,
Wells Fargo as follows:

	 	1.	 	Organization. Client is a corporation, validly
existing and in good standing under the laws of the jurisdiction of its
formation and has all necessary power and authority to own or lease its
properties and to carry on its business as now being conducted.

	 	2.	 	Authorization. Client has the power to enter into this
letter agreement, and the execution, delivery and performance of this letter
agreement has been duly authorized by all requisite action. This letter
agreement when executed and delivered shall constitute the valid and binding
obligation of Client.

	 	(b)	 	Representations of Servicer. Servicer represents and warrants to, and
covenants with, Wells Fargo as follows:

	 	1.	 	Organization. Servicer is duly formed, validly
existing and in good standing under the laws of the jurisdiction of its
formation and has all necessary corporate power and authority to own or lease
its properties and to carry on its business.

	 	2.	 	Authorization. Servicer has the corporate power to
enter into this letter agreement, and the execution, deliver and performance of
this letter agreement has been duly authorized by all requisite corporate
action. This letter agreement when executed and delivered shall constitute the
valid and binding obligation of Servicer.

	 	(c)	 	Representations of Wells Fargo. Wells Fargo represents and warrants
to, and covenants with, Client and Servicer as follows:

	 	1.	 	Organization. Wells Fargo is duly organized, validly
existing and in good standing under the laws of the United States and has all
necessary corporate power and authority to own or lease its properties and to
carry on its business as now being conducted, and possesses all licenses,
franchises, rights and privileges material to the conduct of its business,
taken as a whole.

	 	2.	 	Authorization. Wells Fargo has the corporate power to
enter into this letter agreement, and the execution, delivery and performance
of this letter agreement has been duly authorized by all requisite corporate
action. This letter agreement when executed and delivered shall constitute the
valid and binding obligation of Wells Fargo.

 

 

 

 _____, 20_____ 

Page 4

	8.	 	Conflicts. In the event of a conflict between the terms set forth in Section 2 of
this letter agreement and the Servicing Agreement, the terms set forth in Section 2 of this
letter
agreement shall prevail.

	9.	 	Governing Law. This letter agreement shall be governed by [INSERT STATE] law.

	10.	 	Notices. All notices under this letter agreement shall be sent by certified first
class mail, return receipt requested, postage prepaid, or other receipted express delivery
services, or by facsimile with written acknowledgment of receipt, and shall be effective upon
receipt:

If to Client to:

If to Servicer to:

If to Wells Fargo to:

Wells Fargo Bank, National Association

	11.	 	Amendments. The terms of this letter agreement may not be amended without the prior
written consent of each party hereto.

	12.	 	Counterparts. This letter agreement may be executed in one or more counterparts,
each of which shall be deemed an original. All counterparts executed shall constitute one
agreement binding all of the parties.

	13.	 	Waiver. If a party waives any of its rights on any one or more occasions it will not
be deemed to be a waiver of that party’s rights on any other occasion.

 

 

 

 _____, 20_____ 

Page 5

	14.	 	Severability. Any provision of this letter agreement held by a court of competent
jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of
this letter agreement and the effect thereof shall be confined to the provision so held to
be invalid or unenforceable.

Please acknowledge your receipt and agreement with the provisions of this letter agreement by
having your authorized officer execute the copy included herewith and returning it to the
undersigned.

	 	 	 	 	 	 	 
	 	 	Sincerely,	 	 
	 
	 	 	 	 	 	 
	 	 	[CLIENT]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

ACKNOWLEDGED AND AGREED TO THIS
 _____ DAY OF  _____, 20_____.

[SERVICER]

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

WELLS FARGO BANK, NATIONAL ASSOCIATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

 

 

EXHIBIT D

ARMORED CARRIER LETTER AGREEMENT

[INSERT DATE]

Ladies and Gentlemen:

Wells Fargo Bank, National Association, a national banking association organized under the
laws of the United States (“Wells Fargo”) has entered into, or intends to enter into, a
Contract Cash Solutions Agreement with
 _____ 
(“Client”) (the “Contract Cash
Solutions Agreement”) pursuant to which Wells Fargo shall provide U.S. currency for the cash
dispensement operations of the ATM machines owned, operated or managed by Client and listed on
Exhibit A as the same may be supplemented from time to time by joint written notice from Wells
Fargo and Client to Armored Carrier (the “Covered Machines”). Client has also contracted
with the above named addressee (“Armored Carrier”) to perform certain currency and coin
delivery and retrieval services with respect to the Covered Machines pursuant to a separate
agreement between Armored Carrier and Client (the “Armored Carrier Agreement”). Client,
Wells Fargo, and Armored Carrier may be referred to herein as a “Party” or “Parties” when referring
to each of them.

	1.	 	Definition. For purposes of this letter agreement, “Cash” shall mean the U.S.
currency provided by Wells Fargo for the cash dispensing operations of the Covered Machines
pursuant to the Contract Cash Solutions Agreement.

	2.	 	Ownership of Cash. Armored Carrier agrees that the Cash is the sole and exclusive
property of Wells Fargo and that Armored Carrier shall not at any time have any interest
(including any security interest or right of setoff) in such Cash and shall not setoff against
the Cash any claims it may now have or claims that may accrue to it in the future against
Client, Wells Fargo or any other person. Armored Carrier agrees that Wells Fargo shall have
all right, title, and interest in and to the Cash, regardless of physical location, and may
treat the Cash as its asset until it is dispensed from the Covered Machines. Upon demand by
Wells Fargo, all Cash shall be surrendered by Armored Carrier to Wells Fargo. At no time
shall Armored Carrier assert or otherwise claim any interest in the Cash that would under any
circumstances be contrary to Wells Fargo’s treatment of the Cash as “vault cash” as defined in
section 204.2(k) of Regulation D.

	3.	 	Commingling of Cash. Armored Carrier acknowledges that it will not at any time
commingle the Cash with any other funds it is holding or transporting; provided, that the
holding of Cash in an armored vehicle or vault with other funds shall not constitute
commingling of the Cash with other funds so long as the Cash shall remain segregated and
separately identified from such other funds at all times.

 

 

 

	4.	 	Armored Carrier Services.

	 	(a)	 	Redelivery of Cash. Notwithstanding any provision of any Armored
Carrier Agreement to the contrary, Wells Fargo may demand at any time, without prior
notice or qualification, that all or any part of the Cash stored in the Covered
Machines or otherwise in possession of Armored Carrier be redelivered to Wells
Fargo. In response to any such demand, Armored Carrier shall use its best efforts
to redeliver the Cash to Wells Fargo as fast as is reasonably practicable. Unless
otherwise agreed to in advance, such redelivery shall be made at Wells Fargo’s
expense at such reasonable service charge as shall then be determined in good faith
by Armored Carrier. Such Cash shall be returned to Wells Fargo at the address that
corresponds to each Covered Machine that is specified in Exhibit A.

	 	(b)	 	Cash Held by Armored Carrier. When Cash is held by Armored
Carrier in the Armored Carrier’s vault, all such Cash shall be kept in separate
inventory until such time as the Cash is required to be placed in a specific Covered
Machine or until it is requested to be returned to Wells Fargo pursuant to this
letter. The Cash shall not be commingled with any other cash in the possession,
custody or control of Armored Carrier.

	 	(c)	 	Cash Control. At no time shall Client be given access to the
Cash held by Armored Carrier, nor shall Armored Carrier give Client access to the
Cash held in any Covered Machine.

	 	(d)	 	Covered Machine Access. Except as may be necessary to perform
the services under any Armored Carrier Agreement, including, but not limited to,
loading and removing Cash to and from the Covered Machines or redelivery of Cash to
Wells Fargo provided for in this letter agreement, no employee of Armored Carrier
shall have the authority to access the Cash stored in any Covered Machine. Armored
Carrier shall not give access to the Cash stored in any of the Covered Machines to
any third party without first obtaining the agreement of Wells Fargo. Client’s
maintenance providers may have access to the Covered Machines independent of Armored
Carrier.

	5.	 	Cash Discrepancy. The amount set forth in the shipping document released by a
Federal Reserve Bank in connection with the release by such Federal Reserve Bank to Armored
Carrier of any sealed or locked bag shall be deemed the amount of the Cash received. In the
event of any discrepancy between such shipping document and the contents of a sealed or locked
cash bag received by Armored Carrier from a Federal Reserve Bank, Armored Carrier shall notify
Client and Wells Fargo in writing immediately of the discrepancy, and Armored Carrier shall
provide reasonable assistance to Wells Fargo in presenting difference claims to the Federal
Reserve Bank in accordance with Federal Reserve Bank regulations. With respect to any Cash
made available to Armored Carrier from any one of the Cash Suppliers listed on Exhibit B (each
a “Cash Supplier”) or a Wells Fargo 

 

- 2 -

 

cash vault, the amount set forth on the packing
slip for that Cash shipment shall be deemed the amount of Cash received. In the event of any
Cash shipment discrepancy between such packing slip provided by a Cash Supplier and the contents as
counted by Armored Carrier, Armored Carrier shall notify Client and Wells Fargo in writing
immediately of the discrepancy, and Armored Carrier shall provide reasonable assistance to
Wells Fargo in presenting difference claims. Wells Fargo and Client each agree that they
shall not conceal or misrepresent any material fact or circumstance concerning the Cash
delivered to Armored Carrier pursuant to this letter agreement.

	6.	 	Reporting Requirement. Each Business Day, Armored Carrier shall use commercially
reasonable efforts to provide a report to Wells Fargo by 12:00 p.m. local time, which shall
contain: (i) the amount of Cash placed in each Covered Machine by Armored Carrier the
immediately preceding Business Day, (ii) the amount of Cash returned to the Armored Carrier’s
vault from the Covered Machines the immediately preceding Business Day, (iii) the total amount
of all Cash shipments from Wells Fargo’s vault to Armored Carrier’s vault the immediately
proceeding Business Day, (iv) the total amount of all Cash shipments from Armored Carrier’s
vault to Wells Fargo the immediately proceeding Business Day, (v) the closing vault balance of
Armored Carrier’s vault the immediately preceding Business Day, and (vi) such other additional
information as Wells Fargo may reasonably request. All reports delivered by Armored Carrier
shall be completed by the reporting systems selected by Wells Fargo. “Business Day”
shall mean any day other than weekends or holidays observed by the Federal Reserve Banks or
Wells Fargo, and with respect to each Covered Machine, the Cash Supplier that is making Cash
available to such Covered Machine.Recovery Plan. Armored Carrier agrees to comply
with the terms of the Recovery Plan attached hereto as Exhibit C, as the same may be
supplemented from time to time by joint written notice from Wells Fargo and Client to Armored
Carrier.

	7.	 	Insurance. Armored Carrier, at its own expense, shall provide and maintain insurance
coverage during the complete term of the Agreement, that conforms in all material respects
with the following requirements:

	 	(a)	 	Workers’ Compensation Insurance. Statutory Workers’ Compensation
coverage for all of its employees, including occupational disease coverage, as
required by applicable law, and employer’s liability with limits of at least
$1,000,000 bodily injury each accident, $1,000,000 bodily injury by disease per
employee, and $1,000,000 bodily injury by disease in the aggregate. If any class of
employees providing any services under the Agreement is not protected by the
Workers’ Compensation statute, Armored Carrier shall provide special insurance for
the protection of such employees not otherwise protected that is similar to the
coverage required above. The policy shall be endorsed to include “all states”
coverage (if applicable). If any Services are to be performed by Armored Carrier in
North Dakota, Ohio, Washington, West Virginia or Wyoming, Armored Carrier shall
purchase, in each of the aforementioned states in which Armored Carrier will be
performing Services, (i) Workers’ Compensation in the State Fund established by each
such state, and (ii) Stop Gap coverage providing Employer’s liability coverage in
each such state.

 

- 3 -

 

	 	(b)	 	Commercial General Liability Insurance. Commercial General
Liability
Insurance written on an “occurrence” basis with a combined single limit of at
least $2,000,000 per occurrence, and a general aggregate of $5,000,000, in forms
providing coverage not less than the standard commercial general liability policy
including hazards of operation, broad form property damage liability coverage,
products/completed operations coverage, independent contractor coverage and broad
form contractual coverage for liability assumed under this Agreement, to the
extent insurable under the policy. The policy shall insure against claims for
personal injury, bodily injury (including death), and property damage occurring
on or about the site of any Services following the date of the Agreement by
reason of, or as a result of, the negligent acts or omissions of Armored Carrier
or any of its employees, agents or contractors. Coverage shall include (a)
liability arising out of acts of agents or contractors of Armored Carrier and (b)
provisions that the insurance company has a duty to defend all insureds under the
policy and that defense costs are paid in addition to and do not deplete the
policy limits.

	 	(c)	 	Automobile Liability Insurance. Coverage for all motor vehicles
operated by or for Armored Carrier, including protection for automobiles and trucks
used by Armored Carrier either on or away from Client’s and Wells Fargo’s facilities
or other sites at which Armored Carrier’s services are provided, with a combined
single limit of at least $1,000,000 per occurrence for bodily injury and property
damage. The policy shall include coverage for all hired, owned and non-owned
vehicles.

	 	(d)	 	Commercial Umbrella/Follow Form Excess Policy. Excess liability
policy with limits of not less than $10,000,000 per occurrence in excess of the
primary underlying policy limits. The policy must provide coverage at least as
broad as the underlying policies.

	 	(e)	 	All-Risk Property Insurance. Replacement cost coverage on all
buildings, equipment and other property used in the performance of the Services, and
Armored Carrier hereby waives any right of subrogation against Client and Wells
Fargo (including, their respective officers, directors and employees) for any loss
or damage to same. Armored Carrier shall have the option to self-insure for such
coverage, but if Armored Carrier elects to self-insure, Armored Carrier shall
protect Client and Wells Fargo (including their respective officers, directors and
employees) to the same extent as it would if it had obtained an “all risk” property
coverage policy covering such property.

 

- 4 -

 

	 	(f)	 	Comprehensive. Comprehensive Crime/Money and Securities
insurance with a limit of not less than the greater of (i) $50,000,000 for any
Armored Carrier facility ($50,000,000 for an Armored Carrier facility without a
Class II vault), (ii) $50,000,000 for property in transit, or (iii) an amount equal
to the maximum amount of cash, currency and valuables held for all Clients at each
Armored Carrier facility (determined on a facility by facility basis) covering all
loss, damage or destruction of “Property” (as defined in this Agreement) while same
is in the care, custody and control of Armored Carrier, its employees,
agents or contractors or as may otherwise be the responsibility of Armored
Carrier under this Agreement. The insurance shall include, but not be limited
to, the following coverages:

	 	(i)	 	Employee Theft/Dishonesty Coverage (including Client and Wells
Fargo Property endorsement)

	 	(ii)	 	In transit coverage

	 
	 	(iii)	 	On premises coverage

	 
	 	(iv)	 	Computer theft and funds transfer coverage

	 	(v)	 	Joint loss payable endorsement in favor of Client and Wells
Fargo

	 	(vi)	 	Legal Liability coverage for loss of and/or damage or
destruction of Property

	 	(g)	 	General Requirements. The following general requirements shall
apply to all insurance policies required to be obtained by Armored Carrier
hereunder:

	 	(i)	 	Armored Carrier shall maintain the foregoing insurance coverage
in force at all times during the performance of any Services under the
Agreement.

	 	(ii)	 	Armored Carrier shall furnish Client and Wells Fargo with
certificates of insurance evidencing the insurance required by this Agreement
prior to the commencement of any services and at least annually from the date
of the Agreement and as policies are renewed, replaced, or modified. Failure
to provide the certificates will constitute a material breach and entitle
Client and Wells Fargo to terminate the Agreement.

	 	(iii)	 	All policies shall be written by insurance companies that are
(a) lawfully authorized to do business in the jurisdiction(s) where work is
being performed or services are provided and (b) carry an A.M. Best rating of
“A” or better and financial category of “X” or higher. Should any policy be
written on a surplus lines and non-admitted basis, Client and Wells Fargo
reserve the right to approve the insurance company.

	 	(iv)	 	Each policy shall include a provision requiring that at least
30 days prior written notice be given to Client and Wells Fargo in the event of
cancellation, non-renewal, lowering of policy limits or exhaustion of
aggregates. Armored Carrier shall provide Client and Wells Fargo with 30 days
prior written notice of any material change in any policy.

 

- 5 -

 

	 	(v)	 	Armored Carrier shall pay the premiums on all required
insurance policies and the cost for such premiums shall be deemed included in
the compensation payable to Armored Carrier for its services pursuant to the
terms of the Armored Carrier Agreement.

	 
	 	(vi)	 	All required insurance policies, except for Workers’
Compensation and “All Risk” Property Insurance, to the extent permitted by
applicable law, shall name Client and Wells Fargo and their respective
officers, directors and employees as “additional insureds.” Any General
Liability and Umbrella policy must utilize ISO endorsement form CG2010 (11/85)
Additional Insured — Owners, Lessees, or Contractors (Form B) or equivalent
endorsement that names Client and Wells Fargo and their respective officers,
directors and employees as additional insureds for both ongoing operations of
Armored Carrier and completed operations of Armored Carrier.

	 	(vii)	 	Except where prohibited by law, all insurance policies
required by this Agreement shall include a Waiver of Subrogation in favor of
Client and Wells Fargo and their respective officers, directors and employees.

	 	(viii)	 	Each of Armored Carrier’s insurance policies shall be written so as to
provide primary coverage and to be non-contributing with respect to any other
insurance or self insurance which may be maintained by Client and Wells Fargo.

	 	(ix)	 	The insurance requirements set forth herein shall in no way
limit the liability of Armored Carrier or its contractors arising under the
Armored Carrier Agreement, this letter or any other agreement or as a result of
any related activities.

	 	(x)	 	Armored Carrier shall be responsible for the payment of any and
all deductibles or SIR (“Self Insurance Retention”) applicable under its
insurance policies. Armored Carrier’s deductible and/or SIR shall not exceed
Armored Carrier’s current limits on any given policy, unless approved in
writing by Client and Wells Fargo. Client and Wells Fargo acknowledge that
Armored Carrier’s deductibles on Armored Carrier’s policies in existence at the
inception of this letter agreement are acceptable and Armored Carrier agrees to
notify Client and Wells Fargo in writing at least thirty (30) days in advance
of any future proposed changes in such deductible and to obtain Client’s and
Wells Fargo’s written approval prior to increasing any deductibles.

	 	(xi)	 	Client and Wells Fargo shall have the right to request from
time to time that Armored Carrier obtain additional insurance in connection
with Armored Carrier’s performance of any of its services.

 

- 6 -

 

	8.	 	Examinations and Audits Of Armored Carrier. Armored Carrier shall allow Wells Fargo,
Client, their respective designees, and any regulatory or supervisory body to which Wells
Fargo is subject (“Auditors”), access to its facilities that maintain inventories of the Cash.
Such access shall be for the purpose of allowing the Auditors to perform a physical audit of
the Cash, and shall be permitted on regular business days during the Armored Carrier’s regular
business hours at times to be determined by the
Party on whose behalf the audit is being conducted. The Auditors must present proper
credentials to the manager of the Armored Carrier’s facilities prior to gaining admission
and Armored Carrier shall have the right to independently verify with Wells Fargo that such
auditors are authorized prior to having access to such facilities. The Party on whose
behalf the audit is being conducted shall indemnify, defend and hold harmless the Armored
Carrier from any liability, loss, damage, cost, or expense, including reasonable attorneys’
fees, arising out of any bodily injury, death or damage to property sustained by an Auditor
as a result of being on the Armored Carrier’s premises or entering or leaving therefrom, to
the extent that such bodily injury, death or damage to property does not arise from the
negligence or intentional misconduct of the Armored Carrier or any of its officers, agents,
or employees. In addition, Client (provided the audit is being conducted by or on behalf of
Wells Fargo) and Armored Carrier shall furnish to the Auditors their respective records
relating to any discrepancy in Cash settlement. Client (provided the audit is being
conducted by or on behalf of Wells Fargo) and Armored Carrier shall have the right to have
an employee or agent present at all times during any examination or audit of their
respective records. Armored Carrier shall have the right to have an employee present at
all times during any such audit.

	9.	 	Representations, Warranties and Covenants of Armored Carrier. Armored Carrier
represents, warrants, and covenants to Client and Wells Fargo as follows:

	 	(a)	 	Organization. Armored Carrier is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its formation
and has all necessary corporate power and authority to own or lease its properties
and to carry on its business as now being conducted, and possesses all licenses,
franchises, rights and privileges material to the conduct of its business, taken as
a whole.

	 	(b)	 	Authorization. Armored Carrier has the corporate power to enter
into this letter agreement, and the execution, delivery and performance of this
letter agreement has been duly authorized by all requisite corporate action. This
letter agreement when executed and delivered shall constitute the valid and binding
obligation of Armored Carrier.

	 	(c)	 	Amendment of Armored Carrier Agreement. Armored Carrier agrees
to provide Wells Fargo with at least 60 days prior written notice of any amendment
to any Armored Carrier Agreement that may have a material adverse effect on Wells
Fargo.

	 	(d)	 	Compliance with Insurance Requirements. Armored Carrier
represents and warrants that at no time shall the amount of Cash contained in any
delivery vehicle of Armored Carrier exceed the truck load limit set for that vehicle
by Armored Carrier’s insurance carrier.

	 	(e)	 	Vault Security. Armored Carrier agrees that it shall conform to
any regulatory requirements imposed upon Wells Fargo with respect to security
measures that are applicable to the maintenance of the Cash in Armored Carrier’s
vaults.

 

- 7 -

 

	10.	 	Indemnification. As between Wells Fargo and Armored Carrier, Armored Carrier shall
bear all risk of loss with respect to Cash in its possession or control, including, without
limitation, loss due to theft or destruction of any of the Cash, or misfeasance of malfeasance
of Armored Carrier, its agents or employees; provided that the foregoing sentence shall not
supersede any limitations on liability as agreed by Client and Armored Carrier and set forth
in the Armored Carrier Agreement. Armored Carrier agrees to indemnify, defend and hold
harmless Wells Fargo for loss, theft or destruction of the Cash to the same extent it is
required to indemnify Client under the Armored Carrier Agreement. Armored Carrier shall not
be liable or responsible for any loss of Cash: (i) due solely to the intentional act or
omission of Wells Fargo, its agents, or employees, (ii) that occurs after such Cash has been
returned to a Cash Supplier, a Federal Reserve Bank or Wells Fargo, or (iii) that occurs
before such Cash has been delivered to Armored Carrier.

	11.	 	No Obligation. Armored Carrier shall have no rights or obligations under the
Contract Cash Solutions Agreement. Wells Fargo shall have no rights or obligations under the
Armored Carrier Agreement. The sole rights or obligations between Armored Carrier and Wells
Fargo are set forth herein.

	12.	 	Term and Termination.

	 	(a)	 	Client shall promptly provide Wells Fargo and Armored Carrier with any
notice of termination of the Armored Carrier Agreement. This letter agreement shall
automatically terminate upon the termination of the Armored Carrier Agreement or the
Contract Cash Solutions Agreement.

	 	(b)	 	Wells Fargo and Client shall each promptly provide Armored Carrier with
notice of any notice of termination of the Contract Cash Solutions Agreement.

	 	(c)	 	In the event of any regulatory requirements imposed on Wells Fargo with
regards to security measures in which Wells Fargo has notified Client in writing and
which Client is unable to or unwilling to comply, Client may terminate this letter
agreement without any liability on 30 days’ written notice to Wells Fargo.

	 	(d)	 	No Party shall have liability to any other Party for any delay beyond the
control of such Party in the provision of notice pursuant to subsections (a) or (b)
above.

	13.	 	Settlement of Disputes.

	 	(a)	 	Conflicts. To the extent any dispute resolution terms in this
letter are inconsistent with any such terms in the Contract Cash Solutions
Agreement, the terms of this letter shall prevail.

 

- 8 -

 

	 	(b)	 	Arbitration. Upon the demand of any Party, any “Dispute” shall
be resolved by binding arbitration (except as set forth below in “Judicial Review of
Arbitration Awards”) in accordance with the terms of this letter agreement. A
“Dispute “
shall mean any action, dispute, claim or controversy of any kind, whether in
contract or tort, statutory or common law, legal or equitable, now existing or
hereafter arising under or in connection with, or in any way pertaining to, the
subject matter of this letter agreement, or any past, present or future
activities, transactions or obligations of any kind related directly or
indirectly to the subject matter of this letter agreement, including, without
limitation, any of the foregoing arising in connection with the exercise of any
self-help or any ancillary or other remedies or actions taken relating to the
subject matter of this letter agreement. Notwithstanding the foregoing, a
“Dispute” shall not include any claim arising out of the bodily injury to, or
death of, any person. Any Party may by summary proceedings bring an action in
court to compel arbitration of a Dispute. Any Party who fails or refuses to
submit to arbitration following a lawful demand by any other Party shall bear all
costs and expenses incurred by such other Party in compelling arbitration of any
Dispute.

	 	(c)	 	Rules Governing Arbitration. Arbitration proceedings shall be
administered by the American Arbitration Association (“AAA”) or such other
administrator as the Parties shall mutually agree upon in accordance with the AAA
Commercial Arbitration Rules. All Disputes submitted to arbitration shall be
resolved in accordance with the Federal Arbitration Act (Title 9 of the United
States Code), notwithstanding any conflicting choice of law provision in this letter
agreement. The arbitration shall be conducted at a location in [INSERT STATE]
selected by the AAA or other administrator. If there is any inconsistency between
the terms hereof and any such rules, the terms and procedures set forth herein shall
control. All statutes of limitation applicable to any Dispute shall apply to any
arbitration proceeding. All discovery activities shall be expressly limited to
matters directly relevant to the Dispute being arbitrated. Judgment upon any award
rendered in an arbitration may be entered in any court having jurisdiction.

	 	(d)	 	Arbitration; Provisional Remedies. Except as otherwise provided
in this letter agreement, no provision hereof shall limit the right of any Party to
exercise self-help remedies such as setoff, or to obtain provisional or ancillary
remedies, including, without limitation, injunctive relief, sequestration,
attachment, garnishment or the appointment of a receiver, from a court of competent
jurisdiction before, after or during the pendency of any arbitration or other
proceeding. The exercise of any such remedy shall not waive the right of any Party
to compel arbitration hereunder.

 

- 9 -

 

	 	(e)	 	Arbitrator Qualifications and Awards; Powers. Arbitrators must
be active members of the Bar in [INSERT STATE] or retired judges of the state or
federal judiciary of [INSERT STATE] with expertise in the substantive laws
applicable to the subject matter of the Dispute. Arbitrators are empowered to
resolve Disputes by summary rulings in response to motions filed prior to the final
arbitration hearing. Arbitrators (i) shall resolve all Disputes in accordance with
the Governing Law, (ii) may grant any remedy or relief that a federal or
state court of [INSERT STATE] could order or grant within the scope hereof and
such ancillary relief as is necessary to make effective any award, and (iii)
shall have the power to award recovery of all costs and fees, to impose sanctions
and to take such other actions as they deem necessary to the same extent a judge
could pursuant to the Federal Rules of Civil Procedure, the Rules of Civil
Procedure of the State of [INSERT STATE] or other applicable law. Disputes shall
be decided by majority vote of a panel of three arbitrators; provided, however,
that all three arbitrators must actively participate in all hearings and
deliberations.

	 	(f)	 	Judicial Review of Awards. Notwithstanding anything herein to
the contrary, in any arbitration in which the amount in controversy exceeds
$25,000,000, the arbitrators shall be required to make specific, written findings of
fact and conclusions of law. In such arbitrations (i) the arbitrators shall not
have the power to make any award which is not supported by substantial evidence or
which is based on legal error, (ii) an award shall not be binding upon the Parties
unless the findings of fact are supported by substantial evidence and the
conclusions of law are not erroneous under the Governing Law, and (iii) the Parties
shall have, in addition to the grounds referred to in the Federal Arbitration Act
for vacating, modifying or correcting an award, the right to judicial review of (a)
whether the findings of fact rendered by the arbitrators are supported by
substantial evidence, and (b) whether the conclusions of law are erroneous under the
Governing Law. Judgment confirming an award in such a proceeding may be entered
only if a court determines the award is supported by substantial evidence and not
based on legal error under the Governing Law.

	 	(g)	 	Arbitration; Other Matters. To the maximum extent practicable,
the AAA, the arbitrators and the Parties shall take all action required to conclude
any arbitration proceeding within 180 days of the filing of the Dispute with the
AAA. No arbitrator or other Party to an arbitration proceeding may disclose the
existence, content or results thereof, except for disclosures of information by a
Party required in the ordinary course of its business, by applicable law or
regulation, or to the extent necessary to exercise any judicial review rights set
forth herein. If more than one agreement for arbitration by or between the Parties
potentially applies to a Dispute, the arbitration provision most directly related to
the subject matter of the Dispute shall control. This arbitration provision shall
survive the termination of this letter agreement.

 

- 10 -

 

	14.	 	Notices. All notices under this letter agreement shall be sent by certified first
class mail, return receipt requested, postage prepaid, or other receipted express delivery
services, or by facsimile with written acknowledgment of receipt, and shall be effective upon
receipt:

If to Client to:

If to Servicer to:

If to Wells Fargo to:

Wells Fargo Bank, National Association

	15.	 	Governing Law. This letter agreement shall be governed by [INSERT STATE] law.

	16.	 	Amendments. The terms of this letter agreement may not be amended without the prior
written consent of each Party hereto.

	17.	 	Counterparts. This letter agreement may be executed in one or more counterparts,
each of which shall be deemed an original. All counterparts executed shall constitute one
agreement binding all of the Parties.

	18.	 	Waiver. If a Party waives any of its rights on any one or more occasions it will not
be deemed to be a waiver of that Party’s rights on any other occasion. Please acknowledge
your receipt and agreement to the representations, covenants, warranties, and provisions of
this letter agreement by having your authorized officer execute the copy included herewith and
returning it to the undersigned.

 

- 11 -

 

	 	 	 	 	 	 	 
	 	 	Sincerely,	 	 
	 
	 	 	 	 	 	 
	 	 	[CLIENT]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

ACKNOWLEDGED AND AGREED TO THIS
 _____ DAY OF  _____, 20_____.

[ARMORED CARRIER]

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

WELLS FARGO BANK, NATIONAL ASSOCIATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

EXHIBIT A

Covered Machines

EXHIBIT B

Cash Suppliers

EXHIBIT C

Recovery Plan

 

- 12 -

 

EXHIBIT E

Maintenance Provider Letter

______________, 20__

	 	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	Attention:
	 	 	 	 
	 

	 	 

	 	 

Ladies and Gentlemen:

Wells Fargo Bank, National Association (“Wells Fargo”) has entered into a Contract
Cash Solutions Agreement with
 _____ 
(“Client”) (the “Contract Cash Solutions
Agreement”) pursuant to which Wells Fargo shall provide U.S. currency for the dispensing from
the ATM machines (the “Cash”) owned, operated or managed by Client (the “Covered
Machines”). Client has also contracted with the above named addressee (“Maintenance
Provider”) to perform certain maintenance services in connection with certain of the Covered
Machines (the “Serviced Machines”) pursuant to one or more written agreements between
Maintenance Provider and Client (the “Maintenance Contracts”). The purpose of this letter
agreement is to set forth certain rights and obligations of Maintenance Provider, Wells Fargo and
Client.

1. Ownership of Cash. Maintenance Provider and Client agree that Wells Fargo shall
have absolute control of all of the Cash in the Serviced Machines at all times, that the Cash is
the sole and exclusive property of Wells Fargo and that Maintenance Provider shall not at any time
have any interest (including any security interest) in such Cash.

2. Access to Cash. Maintenance Provider acknowledges that it has no right of control
of the Cash and that Maintenance Provider shall not, and shall not instruct its agents and
subcontractors (if any) to, physically remove the Cash from Serviced Machines or hinder any Armored
Carrier’s physical access to the Cash. “Armored Carrier” shall mean one or more armored
carriers that Client and Wells Fargo have contracted with for purposes of delivering monies to, and
retrieving monies from the Covered Machines.

3. Conflicts. In the event of a conflict between the terms set forth in Section 2 of
this letter agreement and the Maintenance Contracts, the terms set forth in Section 2 of this
letter agreement shall prevail.

4. Counterparts. This letter agreement may be executed in one or more counterparts,
each of which shall be deemed an original. All counterparts executed shall constitute one
agreement binding all of the parties.

5. Term. This letter is effective until Maintenance Provider receives notice of
termination from Wells Fargo.

 

 

 

Please acknowledge your receipt and agreement with the provisions of this letter agreement by
having your authorized officer execute the copy included herewith and returning it to the
undersigned. Addresses for notices can be found in Exhibit E-1 to this letter.

	 	 	 	 	 	 	 
	 	 	Sincerely,	 	 
	 
	 	 	 	 	 	 
	 	 	[CLIENT]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

ACKNOWLEDGED AND AGREED TO THIS
 _____ DAY OF  _____, 20_____.

[MAINTENANCE PROVIDER]

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

WELLS FARGO BANK, NATIONAL ASSOCIATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

- 2 -

 

Exhibit E-1

Addresses for Notices

If to Client to:

If to Maintenance Provider to:

If to Wells Fargo to:

Wells Fargo Bank, National Association

 

- 3 -

 

EXHIBIT F

Recovery Plan

See Attached

 

- 1 -

 

EXHIBIT G

Pilot Settlement and Reconciliation Procedures

	1.	 	Commencement. The settlement procedures for Pilot Machines (as defined below) shall
become effective at 12:00 a.m. Pacific Time on a date mutually agreed upon by Wells Fargo
and Client (the “Pilot Start Date”). For purposes of the Pilot, the Pilot Machines shall
include only those ATMs separately agreed to in writing. One week prior to the Pilot Start
Date, Client shall provide a detailed written description of the currency and coin balances
required for the initial cash orders to Wells Fargo intended for use in the Pilot Machines
(the “Starting Pilot Cash”). Upon Client’s receipt of the Starting Pilot Cash (which will
be deemed to be the time when the Armored Carrier receives the Cash from the Wells Fargo
Network Location), the U.S. currency and coin for the dispensing from the Pilot Machines as
of the Pilot Start Date shall be the property of Wells Fargo and shall be referred to as
the “Pilot Cash.” Client shall remove any Cash that is not Starting Pilot Cash from the
Pilot Machines before the Starting Pilot Cash is loaded into the Pilot Machines and the
only Cash in the Pilot Machines shall be Wells Fargo owned Cash.

	2.	 	Reports.

	 	A.	 	Daily Reports. By 9:00 a.m., Central Time, on each
Business Day after the Pilot Start Date, Client shall deliver to Wells Fargo
two daily reports (“Daily Reports”) as follows:

	 	(i)	 	File 1. A report (the “File 1
Report”) that provides the amount of Cash dispensed from each Pilot
Machine between 3:00 p.m. Pacific Time on the day immediately
preceding the day on which the immediately preceding File 1 Report
was delivered and 3 p.m. Pacific Time of the immediately preceding
Business Day (“Daily Dispensed Cash”); and

	 	(ii)	 	File 2. A report (the “File 2
Report”) that provides the amount of Pilot Cash dispensed from each
Pilot Machine serviced since the preceding Business Day from 3:00
p.m. Pacific Time until such Pilot Machine was serviced and cash
cassettes swapped by the applicable armored carrier on the
immediately preceding Business Day.

	 	B.	 	Armored Carrier Service Report. Utilizing iCom
Reporting Systems, on each Business Day, the applicable Armored Carrier shall
deliver to Wells Fargo a report reflecting each Pilot Machine serviced and cash
cassettes swapped since the preceding report and the Pilot Cash balance in each
Pilot Machine at the time of service (together with corrections and adjustments
input in the iCom Reporting System, the “Service Report(s)”). Service Reports
shall be used by Wells Fargo as part of the reconciliation process contemplated
hereby.

	 	C.	 	Daily Report by Wells Fargo. Although the Bank Report
will not be supplied to Customer, Wells Fargo will supply Customer similar
information for each Pilot Machine daily.

 

 

 

	3.	 	Settlements. All settlements with Client of Pilot Cash shall be effected by wire
transfer directly into the Settlement Account by 9 a.m. Pacific Time on the same day Client
receives the funds from its current provider.

	4.	 	Viewing of Settlement Account. Client shall have viewing access to the Settlement
Account during the Pilot if such access is available. If such access is not available
during the Pilot, Wells Fargo shall use commercially reasonable efforts to provide
information about the Settlement Account requested by Client.

	5.	 	Reconciliation. Following receipt of the Daily Reports each Business Day, Wells Fargo
shall endeavor to reconcile all out-of-balance amounts of Pilot Cash from the amounts
reported in the Daily Reports and the Service Reports. If at any time Wells Fargo learns
that the Pilot Cash is out-of-balance (by use of the bank reports or otherwise), Wells
Fargo shall notify Client of the imbalance within three (3) days of such discovery, and
within sixty (60) days of providing such notice to Client, Wells Fargo shall credit or
debit, as applicable, the Operating Account (as defined below) for such overage or
shortage. Variances will be settled as of the last Business Day of the month when the
difference reaches sixty (60) days.

	6.	 	Receivables. Notwithstanding anything in this letter agreement to the contrary, Wells
Fargo and Client agree that during the Pilot, Wells Fargo owns the Pilot Cash and any
receivables arising from such Pilot Cash being dispensed.

	7.	 	Fees. Client agrees to pay Wells Faro the Fees for the Pilot calculated in accordance
with the terms of the Fee Letter.

 

 

 

EXHIBIT G

Form of Bank Report

See attachedExhibit 10.53

Exhibit 10.53

EXECUTION COPY

[***]
— Indicates confidential information.  Confidential treatment
requested.
Portion omitted filed separately with the Securities
and Exchange Commission.

Fee Letter

November 12, 2010

Global Cash Access, Inc.

3525 E. Post Road, Suite 120

Las Vegas, NV 89120

Attention: General Counsel

Ladies and Gentlemen:

Reference is made to the November 12, 2010, Contract Cash Solutions Agreement (“Agreement”)
among Global Cash Access, Inc. (“Client”) and Wells Fargo Bank, N. A. (“Wells Fargo”). This letter
agreement is the Fee Letter referred to in the Agreement. Capitalized terms used but not defined
herein have the meanings assigned to them in the Agreement.

Client agrees to pay to Wells Fargo the Fees calculated in accordance with the terms of
Exhibits A and B to this Fee Letter, which exhibits are incorporated herein. The Fees may be
changed pursuant to the terms of Section VII of the Agreement. Client agrees that its obligations
under this Fee Letter will survive the consummation of the transactions described in the Agreement.

Please confirm your agreement with the Fees by signing and returning to us a copy of this Fee
Letter, whereupon it shall constitute a binding agreement between us. Client agrees that this Fee
Letter and its contents are subject to confidentiality provisions and will not be disclosed except
as required by law or a final order of a court of competent jurisdiction; and provided that the
disclosure of Fees shall be subject to the provisions of Section XIII.O of the Agreement.

	 	 	 	 	 
	 	Yours very truly,

WELLS FARGO BANK, N. A.

 	 
	 	By:  	/s/ Olga Wisinicky
 	 
	 	 	Name:  	Olga Wisinicky 	 
	 	 	Title:  	Vice President 	 

Accepted and Agreed to on November 10, 2010:

	 	 	 	 	 
	GLOBAL CASH ACCESS, INC.

 	 	 
	By:  	/s/ Scott Betts
 	 	 
	 	Name:  	Scott Betts 	 	 
	 	Title:  	President and CEO 	 	 

 

 

 

EXHIBIT A

Fees

	1.	 	Monthly Fee. Client shall pay a monthly fee as calculated in accordance with the
following formula:

Monthly Fee = The sum of A x B x C

Where:

A = The Average Daily LIBOR Tranche Dollars Outstanding

B = (Daily Three Month LIBOR plus Wells Fargo LIBOR Margin)/360

C = The number of days in the calendar month

	2.	 	Definitions. The following terms when used in this Exhibit A shall have the
following meanings:

“Average Daily LIBOR Tranche Dollars Outstanding” during the calendar month means an
amount equal to the average amount of Cash, at the end of each day during such calendar
month, that has previously been provided by Wells Fargo to Client by way of delivery of the
same to an Armored Carrier for the benefit of Client, but has not yet been reimbursed by way
of credit to a Settlement Account in immediately available funds.

	 	(a)	 	“Daily Three Month LIBOR” means, for each day, LIBOR then in effect for
delivery for a three month period on such day or if such day is not a Business Day on
the immediately preceding Business Day.

	 	(b)	 	“LIBOR” means the rate per annum determined pursuant to the following
formula:

	 	 	 	 	 	 	 
	 

	 	LIBOR =
	 	Base LIBOR	 	 
	 

	 	 	 	 

100% — LIBOR Reserve Percentage
	 	 

	 	(1)	 	“Base LIBOR” means the rate per annum for United States
dollar deposits quoted by Wells Fargo for the purpose of calculating the
effective rate for loans that reference Daily Three Month LIBOR as the
Inter-Bank Market Offered Rate in effect from time to time for three month
delivery of funds in amounts approximately equal to the Average Daily LIBOR
Tranche Dollars Outstanding. Client understands and agrees that Wells Fargo
may base its quotation of the Inter-Bank Market Offered Rate upon such offers
or other market indicators of the Inter-Bank Market as Wells Fargo in its
discretion deems appropriate, including but not limited to the rate offered
for U.S. dollar deposits on the London Inter-Bank Market.

 

 

 

	 	(2)	 	“LIBOR Reserve Percentage” means the reserve percentage
prescribed by the Board of Governors of the Federal Reserve System (or any
successor) for “Eurocurrency Liabilities” (as defined in Regulation D of the
Federal Reserve Board, as amended), adjusted by Wells Fargo for expected
changes in such reserve percentage during the applicable term of the Agreement.

	 	(c)	 	“Wells Fargo
LIBOR Margin” means [***].

	3.	 	Ancillary Services and Charges. Client shall also pay the customary charges and fees
of Wells Fargo for the ancillary services set forth on Exhibit B to the Fee Letter, which
Exhibit reflects the current charges on the date of this Agreement. Wells Fargo’s standard
treasury and cash management agreements will apply to all ancillary services such as wire
transfers, ACH services and the like.

 

 

 

EXHIBIT B

FEES FOR CONTRACT CASH SERVICES

	1.	 	Cash Processing Fees:

	 	 	 	 	 
	Depository Services	 	Unit Price	 
	Vault Deposit
	 	$	[***]	 
	Cash Vault Cash Order per request (touchtone/CEO), per vault
	 	$	[***]	 
	Cash Vault Currency Supplied per $1 supplied (bundle)
	 	$	[***]	 
	Cash Vault Currency Supplied per $1 supplied (non-standard)
	 	$	[***]	 
	Cash Vault Currency Supplied per $1 supplied (standard)
	 	$	[***]	 
	Expanded Network Currency Supplied per $1 supplied (non-standard)
	 	$	[***]	 
	Expanded Network Currency Supplied per $1 supplied (bundle)
	 	$	[***]	 
	Expanded Network Currency Supplied per $1 supplied (standard)
	 	$	[***]	 
	Cash Vault Currency Deposited per $1 deposited (standard)
	 	$	[***]	 
	Expanded Network Currency Deposited per $1 deposited (standard)
	 	$	[***]	 
	Cash Vault Deposit Adjustment per corrected deposit
	 	$	[***]	 
	Expanded Network Deposit Adjustment per corrected deposit
	 	$	[***]	 
	Cash Vault Monthly Base
	 	$	[***]	 

Other account related charges will be based upon our prevailing commercial schedule of fees in
effect from time to time.

	2.	 	Reconcilement Fee:

You will pay us the fees and charges of the reconcilement in performing those services to us with
regard to the ATM Cash Services. We shall pass such fees and charges through to you.

	 	 	 	 	 
	Reconcilement Services	 	Unit Price	 
	ATM Contract Cash Balance/Location
	 	$	[***]	 
	Contract Cash Balance/Settlement
	 	$	[***]

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