Document:

exv10w49

EXHIBIT 10.49

FIRST AMENDMENT TO

CHANGE OF CONTROL AGREEMENT

     This First Amendment (this “Amendment”) to the Change of Control Agreement (the “Change of
Control Agreement”), dated as of August 5, 2005, between Coinstar, Inc., a Delaware corporation
(“Employer”), and Brian V. Turner (“Employee”) is entered into on December 31, 2008.

     WHEREAS, Employer and Employee wish to document an amendment to the Change of Control
Agreement;

     NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of which are
hereby acknowledged, Employer and Employee hereby agree that, effective January 1, 2009, the Change
of Control Agreement shall be amended as follows:

     1. Section 1.3 is amended to read as follows:

     1.3 Authority, Duties and Responsibilities

     During the Employment Period, the Employee’s authority, duties and responsibilities
shall be at least reasonably commensurate in all material respects with the most
significant of those held, exercised and assigned at any time during the 90-day period
immediately preceding the Effective Date.

     2. Section 4.4 is amended to read as follows:

     4.4 Date of Termination

     During the Employment Period, “Date of Termination” means (a) if the Employee’s
employment is terminated by reason of death, at the end of the calendar month in which the
Employee’s death occurs, and (b) in all other cases, the later of (i) five days after the
date of personal delivery of or mailing of, as applicable, the Notice of Termination, and
(ii) the date on which the Employee separates from service, within the meaning of
Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”).
The Employee’s employment and performance of services will continue during such five-day
period; provided, however, that the Employer may, upon notice to the
Employee and without reducing the Employee’s compensation during such period, excuse the
Employee from any or all of his duties during such period.

     3. Section 5.4 is amended to read as follows:

 

 

     5.4 Payment Schedule

     Payments under Section 5.1(a), 5.2 and 5.3 (other than payments of deferred
compensation, which shall be paid in accordance with the provisions of the plan under which
such compensation was deferred) shall be paid to the Employee in a lump sum in cash within
30 days of the Date of Termination. Payments under Section 5.1(b) shall be paid to
Employee in twelve (12) equal monthly installments, beginning with the month following the
month containing the Date of Termination and continuing for eleven (11) consecutive months
thereafter. For purposes of Code Section 409A, each installment payable pursuant to
Section 5.1(b) and this Section 5.4 shall be treated as a separate payment.

     4. Section 5.5 is amended to read as follows:

     5.5 Good Reason

     (a) For purposes of this Agreement, subject to Section 5.5(b), “Good Reason” means the
occurrence or existence of any of the following events or conditions without the Employee’s
express written consent:

          (i) A diminution in the Employee’s Annual Base Salary;

          (ii) A diminution in the Employee’s authority, duties or responsibilities as
contemplated by Section 1.3 hereof, excluding for this purpose reasonable changes in
particular duties and reporting responsibilities which may result from the Employer
becoming part of a larger business organization at some future time provided that such
changes in the aggregate do not result in a material alteration in the Employee’s
authority, duties or responsibilities;

          (iii) Any failure by the Employer to comply with and satisfy Section 7 of the
Employment Agreement, provided that the Employer’s successor has received at least ten
days’ prior written notice from the Employer or the Employee of the requirements of
Section 7 thereof;

          (iv) A relocation of the Employee’s principal place of employment to a location more
than 50 miles from the Seattle metropolitan area, except for required travel on the
Employer’s business to an extent substantially consistent with the Employee’s duties and
responsibilities; or

          (v) Any other action or inaction by the Employer that constitutes a material breach by
the Employer of this Agreement or the Employment Agreement.

     (b) Notwithstanding any provision in this Agreement to the contrary, termination of
employment by the Employee will not be for Good Reason unless (i) the Employee notifies the
Employer in writing of the occurrence or existence of the event or condition which the
Employee believes constitutes Good Reason within

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90 days of the occurrence or initial existence of such event or condition (which notice specifically identifies such event or
condition), (ii) the Employer fails to remedy such event or condition within 30 days after
the date on which it receives such notice (the “Remedial Period”), and (iii) the Employee
actually terminates employment within 90 days after the expiration of the Remedial Period
and before the Employer remedies such event or condition. If the Employee terminates
employment before the expiration of the Remedial Period or after the Employer remedies the
event or condition (even if after the end of the Remedial Period), then the Employee’s
termination will not be considered to be for Good Reason.

     5. Section 7 is amended to read as follows:

     7. CODE SECTION 409A

     The Employer makes no representations or warranties to Employee with respect to any
tax, economic or legal consequences of this Agreement or any payments or other benefits
provided hereunder, including without limitation under Code Section 409A, and no provision
of this Agreement shall be interpreted or construed to transfer any liability for failure
to comply with Code Section 409A or any other legal requirement from Employee or any other
person to the Employer, any of its affiliates or any other person. Employee, by executing
this Agreement, shall be deemed to have waived any claim against the Employer, its
affiliates and any other person with respect to any such tax, economic or legal
consequences. However, the parties intend that this Agreement and the payments and other
benefits provided hereunder shall be exempt from the requirements of Code Section 409A to
the maximum extent possible, whether pursuant to the short-term deferral exception
described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay
plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise.
To the extent Code Section 409A is applicable to this Agreement (and such payments and
benefits), the parties intend that this Agreement (and such payments and benefits) shall
comply with the deferral, payout and other limitations and restrictions imposed under Code
Section 409A. Notwithstanding any other provision of this Agreement to the contrary, this
Agreement shall be interpreted, operated and administered in a manner consistent with such
intentions. Without limiting the generality of the foregoing, and notwithstanding any
other provision of this Agreement to the contrary, with respect to any payments and
benefits under this Agreement to which Code Section 409A applies, all references in this
Agreement to termination of Employee’s employment are intended to mean Employee’s
“separation from service,” within the meaning of Code Section 409A(a)(2)(A)(i). In
addition, if Employee is a “specified employee,” within the meaning of Code
Section 409A(a)(2)(B)(i), when Employee separates from service, within the meaning of Code
Section 409A(a)(2)(A)(i), then to the extent necessary to avoid subjecting Employee to the
imposition of any additional tax under Code Section 409A, amounts that would otherwise be
payable under this Agreement during the six-month period immediately following Employee’s
separation from service shall not be paid to

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Employee during such period, but shall instead be accumulated and paid to Employee (or, in the event of Employee’s death, Employee’s
estate) in a lump sum on the first business day following the earlier of (a) the date that
is six months after Employee’s separation from service or (b) Employee’s death.

     6. Appendix A Subsection (a) is amended to read as follows:

     (a) A “Board Change” which, for purposes of this Agreement, shall have occurred if
individuals who, as of the date of this Agreement, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose
election, or nomination for election by the Employer’s shareholders, was approved by a vote
of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but excluding
for this purpose, any such individual whose initial assumption of office occurs as a result
of either an actual or threatened election contest (as such terms are used in Rule 14a-11
of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person (as hereinafter defined) other than the Board; or

     IN WITNESS WHEREOF, the parties have executed and entered into this Amendment on the date set
forth above.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	COINSTAR, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/
Brian V. Turner

	 	 	 	By
	 	/s/ Donald R. Rench
	 	 
	 

Brian V. Turner

	 	 	 	Its
	 	 

Secretary
	 	 
	 

	 	 	 	 	 	 

	 	 

4exv10w34

 

Exhibit 10.34

January 15, 2008

To Mr. Isaac Angel

Dear Isaac:

			
	Re:	 	Your Resignation from Employment with VeriFone Israel Ltd. (the “Company”) 

As per your resignation notice, and subject to your compliance with your undertakings under this
letter and your execution of, and compliance with, the Confirmation and General Release, attached
hereto, the Company hereby agrees to provide you with the following benefits:

	1.	 	As per your resignation notice, your employment with the Company shall continue until
November 30, 2008 (the “Termination Date”). Until the Termination Date, you shall remain an
employee of the Company, subject to the following:

	 	1.1	 	Until 31 December 2007 (the “Determining Date”), you shall continue to fulfill your
current position and receive your Base Salary and all benefits to which you are entitled
under your employment agreement dated April 12, 2007 (the “Employment Agreement”).
	 
	 	1.2	 	As of 1 January 2008 and until the Termination Date (the “Term”) you shall
transition to the part time position of Advisor to the Chairman of the Board of Directors
(the “Position”) of VeriFone Holdings, Inc. (“VeriFone”).

	2.	 	Within 10 days of the date of this letter, the Company shall act as follows:

	 	2.1	 	Pay you a one-time lump sum of NIS 706,488, reflecting: (1) 53.645 accrued and
unused vacation days; (2) outstanding recuperation pay; and (3) 3 months’ prior notice
period, all as detailed in the attached Appendix A.
	 
	 	2.2	 	Contribute to the severance pay fund in your existing Manager’s Insurance Policy
(the “Policy”) a one-time lump-sum amount reflecting any difference between the amount of
severance pay to which you would have been entitled under the Severance Pay Law (the
“Law”) if you had terminated employment on the Determining Date (assuming that following
the Determining Date you have been employed thought the prior notice period and actually
used the accrued and unused vacation days) under circumstances entitling you to receive
severance pay under the Law, and the amounts accumulated in the severance pay fund in the
Policy, all as detailed in the attached Appendix A.
	 
	 	2.3	 	Provide you with an irrevocable notice of release to funds for all the amounts
accrued in your Education Fund and the Policy (including amounts accumulated in the
severance fund), which will be effective as of the Termination Date.

	3.	 	During the Term and until the Termination Date, you shall be entitled to the following
benefits:

 

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	 	3.1	 	Your monthly gross Base Salary shall be NIS 2,500. The Base Salary will be payable
in arrears within nine (9) calendar days of the first day of the following calendar
month.
	 
	 	3.2	 	You shall be entitled to annual leave; sick leave and recuperation pay as required
by law, and in accordance with your actual scope of employment.
	 
	 	3.3	 	The Company shall continue to make a provision for the loss of earning capacity
component disability insurance in an amount of up to 2.5% of your Base Salary, as
defined in Section 3.1 of the Employment Agreement.
	 
	 	3.4	 	You shall be entitled to continue using the cellular phone which is currently in
your possession, subject to Section 5.2.2 (b) to the Employment Agreement.
	 
	 	3.5	 	During the Term the Company shall make available to you a new Company car license
number 60-330-16 for your use, which was purchased by the Company. The use of the
Company car will be in accordance with Section 5.1 of the Employment Agreement.
	 
	 	3.6	 	Save for as specifically provided in this letter, you shall not be entitled to any
additional payments or benefits with respect to your employment with the Company during
the Term.
	 
	 	 	 	Without derogating from the generality of the above, it is hereby agreed that during
the Term you shall not be entitled to payments and benefits according to following
Sections of the Employment Agreement: 2 (only the second paragraph), 4.1, 4.2, 4.5,
5.2 (save for 5.2.2 (b) and 5.2.3 if you will be required by the Company to travel),
5.3, 5.4, 5.5, 5.6, 5.7, 5.8, 8.1, 8.2, 8.3, 8.4, 9 and Exhibit A, which shall
terminate as of the Determining Date. All other provisions of the Employment
Agreement shall continue to apply with the necessary changes.

	4.	 	On or about the Termination Date, a final settlement of accounts will be carried out and the
Company will provide you with a 161 form. Within the final settlement of accounts the Company
shall redeem any vacation days that were accrued by you during the Term and not used. It is
hereby clarified that the release of the Policy constitutes your entire severance pay
entitlement, and you will not be entitled to any additional amount in this respect.

	5.	 	Your entitlement to any rights, under outstanding options you may have, to purchase shares of
the Company (including the vesting and exercise thereof) shall be in accordance with, and
subject to, the terms and conditions of the applicable option plan and grant agreements. The
vesting of your options shall continue through the Termination Date according to the vesting
schedule of each applicable option plan, and as follows:

	 	(i)	 	Under Lipman 2003 Equity Incentive Plan — options to purchase 240,000 ordinary
 shares of the Common Stock of VeriFone. Since you have already exercised 150,000 shares,
under Lipman 2003 Equity Incentive Plan with an exercise price of $9.304 per share, you
have only 90,000 unexercised options to purchase shares of Common Stock of VeriFone under
this plan.
	 
	 	(ii)	 	Under Lipman 2006 Equity Incentive Plan — options to purchase 200,000 of Common
Stock of VeriFone.

 

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	 	(iii)	 	Under VeriFone’s 2006 Equity Incentive Plan — options to purchase 150,000 options
to purchase shares of Common Stock of VeriFone.

	 	 	You shall be entitled to exercise the vested options to purchase shares of Common Stock of
VeriFone following the Termination Date in accordance with the terms of the applicable plan
and grant documents. You shall continue to be subject to VeriFone’s Insider Trading Policy and
you acknowledge your understanding that you may be unable to exercise stock options and sell
Company shares during any period in which VeriFone determines that such actions are
impermissible or inadvisable under applicable law (including U.S. securities laws).
	 
	6.	 	The arrangement under Sections 1, the Company’s payments under Section 2, the provision of
the new Company car under Section 3.5, the vesting and exercising of options pursuant to
Section 5 and the Company’s willingness to include the study fund increment above the income
tax ceiling as a part of your determining salary for the purpose of calculating your
entitlements for the period until the Determining Date (as detailed in Appendix A),
exceed the entitlements and amounts the Company is otherwise required to pay to you pursuant
to law, the Employment Agreement, and the applicable options plan and grant documents.
Accordingly, such entitlements and payments are conditional upon your execution of the
Confirmation and General Release, attached hereto as Appendix B, and your fulfillment
of all the obligations herein.
	 
	 	 	You should submit the executed Confirmation and General Release to the Company no later than
January 22, 2008.
	 
	7.	 	Nothing in this letter shall be interpreted as preventing the Company’s right to terminate
your employment immediately, upon the occurrence of any of the following: (a) any willful act
of fraud, theft, embezzlement or financial dishonesty with respect to the Company or any of
its affiliates, and/or (b) any criminal offense involving moral turpitude. In such case, you
shall not be entitled to the terms and benefits described above, but only to such entitlement
owed to you under law.
	 
	8.	 	Until the Termination Date and afterwards, you are expected to cooperate with the Company
with respect to any existing or future legal proceedings, which were or will be initiated by
or against the Company, including providing truthful testimony in such proceedings, insofar as
you will be requested to do so. The Company shall reimburse you for all time and expenses
actually incurred by you in this respect.
	 
	9.	 	You are required to deliver to the Company, no later than the Termination Date, and in
accordance with the Company’s instructions, each and every asset belonging or entrusted to the
Company, which is in your possession or control, including the Company car and the cellular
phone. You confirm that you have no liens or other rights whatsoever in or to any such assets.
In addition, you are required to deliver to the Company as instructed, no later than the
Termination Date, all documents, information and other material in your possession or control
that belongs to the Company or VeriFone or any of their affiliates, that relates to, or was
prepared by you in connection with, your employment.
	 
	10.	 	We remind you of your continued obligations of non-competition, confidentiality and
intellectual property rights as required under the Employment Agreement and applicable law,
which will continue to survive and obligate you after the Termination Date. It is hereby
clarified that your 24 months non-compete obligation, as determined in section 6.2 of the

 

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	 	 	Employment Agreement, shall commence on the Determining Date and shall be in effect 24 months
thereafter.
	 
	11.	 	The Company acknowledges and agrees that during the Term you will be entitled to accept other
employment or provide services to third parties, provided however that such employment or
services will not in any way constitute a conflict with or a breach of any of your duties,
undertakings or convents according to the Employment Agreement and/or hereunder.
	 
	12.	 	All of the payments and benefits referred to above are gross amounts and shall be subject to
the withholding of all applicable taxes and deductions required by any applicable law.
	 
	13.	 	The Confirmation and General Release attached hereto as Appendix B that will be
signed by you is subject to the indemnification agreement and release provided by the Company,
attached hereto as Appendix C.
	 
	14.	 	The parties shall coordinate any public announcement related to your resignation, provided
that the Company and VeriFone shall each be permitted to make any disclosure that in their
judgment are required in order to comply with its disclosure obligations under applicable law
or the requirements of any securities exchange on which shares of VeriFone are listed or
admitted for trading.

We thank you again for your contribution to the Company and wish you luck in your future
professional endeavors.

Sincerely,

VeriFone Israel Ltd.

	 	 	 	 	 
	By:

	 	/s/ Doug G. Bergeron
	 	 
	 

	 	 	 	 
	Name:

	 	Doug G. Bergeron	 	 
	Title:

	 	CEO	 	 

     AGREED AND ACCEPTED:

	 	 	 
	/s/ Isaac Angel

	 	 
	 
	 	 
	ISAAC ANGEL
	 	 

 

 

Appendix A

Lump Sum Payment

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	total	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	amount	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	( 7.5%	 	grossto	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	from	 	Isaac	 	 	 	 	 	total
	 	 	 	 	 	 	 	 	 	 	Managers	 	 	 	 	 	 	 	 	 	15,712	 	per	 	 	 	 	 	amount
	 	 	base	 	 	 	 	 	Insurance	 	 	 	 	 	study found	 	NIS)	 	month	 	 	 	 	 	grossto
	Description	 	salary	 	study found	 	(pension)	 	NIS	 	study found	 	NIS	 	(NIS)	 	months	 	Isaac (NIS)
	Notice period — 3 month
	 	 	100,000	 	 	 	6,322	 	 	 	5	%	 	 	5,316	 	 	 	7.50	%	 	 	1,178	 	 	 	112,817	 	 	 	3	 	 	NIS	338,450	 
	vacation  —  April 08
	 	 	100,000	 	 	 	6,322	 	 	 	5	%	 	 	5,316	 	 	 	7.50	%	 	 	1,178	 	 	 	112,817	 	 	 	 	 	 	NIS	112,817	 
	vacation  —  May 08
	 	 	100,000	 	 	 	6,322	 	 	 	5	%	 	 	5,316	 	 	 	7.50	%	 	 	1,178	 	 	 	112,817	 	 	 	 	 	 	NIS	112,817	 
	vacation  —  June 08
	 	 	100,000	 	 	 	6,322	 	 	 	5	%	 	 	5,316	 	 	 	7.50	%	 	 	1,178	 	 	 	112,817	 	 	 	 	 	 	NIS	112,817	 
	vacation  — until July 7, 08
	 	 	22,600	 	 	 	1,429	 	 	 	5	%	 	 	1,201	 	 	 	7.50	%	 	 	1,178	 	 	 	26,409	 	 	 	 	 	 	NIS	26,409	 
	Recuperation Payment
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NIS	3,180	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NIS	706,488	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Catch-Up	 	 	 	 
	 	 	Accrued	 	Contribution	 	 	 	 
	Severance Payment
	 	 	748,772	 	 	 	2,363,184	 	 	NIS	3,111,956	 

 

 

Appendix B

Confirmation and General Release

	1.	 	I hereby confirm that the release and the receipt of the amounts specified in Appendix
A, and the benefits and payments specified in the Resignation from Employment letter,
shall constitute full and final settlement of everything owed to me from the Company, its
parent, VeriFone Holdings, Inc., their affiliates, branch offices, successors or anyone on
their behalf, including, but not limited to, any payments with respect to salary, severance
pay, commissions, bonuses, sick leave, vacation, redemption of vacation, travel allowance,
recuperation pay, prior notice, payment in lieu of prior notice, company car, cellular phone,
expenses of all kinds whatsoever, social contributions of all kinds (including Managers’
Insurance Policy, Education Fund etc.), incentive and/or equity-based plans or programs,
options, shares, benefit plans or programs, and every other payment or social benefit
whatsoever that is connected to, or arising out of, my employment and/or termination of my
employment with the Company.

	2.	 	I hereby confirm and acknowledge that my continues employment until the Termination Date, the
payments that shall be made by the Company to the Policy and to me within 10 days of the date
of the Resignation from Employment letter, the provision of the new Company car, the vesting
and exercising of options and the Company’s willingness to include the study fund increment
above the income tax ceiling as a part of my determining salary for the purpose of calculating
my entitlements, all as specified in the Resignation from Employment letter, exceed the
entitlements and amounts the Company is otherwise required to pay to me pursuant to law, the
Employment Agreement and the applicable options plan and grant documents. Accordingly, such
entitlements and payments are conditional upon my execution of this Confirmation and General
Release, and my fulfillment of all the obligations herein.

	3.	 	I hereby confirm that upon receipt of payments of all amounts and all rights specified in
Appendix A and satisfaction of all Company obligations under the Resignation from
Employment letter, including the indemnification agreement and release provided by the Company
under Appendix C, neither I nor anyone on my behalf will have any claim or demand of
any kind whatsoever against the Company, its parent, VeriFone Holdings, Inc., their affiliates
and/or any of their related entities, branch offices, their respective directors, officers,
managers, employees, shareholders, agents, partners, predecessors, successors and assigns,
representatives or anyone on their behalf in any matter relating to my employment with the
Company or the termination thereof, according to any agreement or applicable law of any
jurisdiction, and that I have received every amount and benefit that the Company is due and
liable to pay me.

	4.	 	I hereby confirm that this Confirmation and General Release is also a letter of
acknowledgement and settlement for severance pay in accordance with Section 29 of the
Severance Pay Law 1963.

	5.	 	I hereby agree to deliver to the Company, by no later than the Termination Date, all and
every asset belonging to the Company, which are in my possession, including the Company car
and cellular phone. I hereby confirm that I have no liens or other rights whatsoever in or to
any such assets, including the Company car.

	6.	 	I hereby agree to deliver to the Company, no later than the Termination Date, all documents,
information and other material in my or control that belongs to the Company, its parent,

 

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	 	 	VeriFone Holdings, Inc. or any of their affiliates, that relates to, or was prepared by me in
connection with, my employment with the Company.

	7.	 	I hereby undertake that until the Termination Date I shall make myself available for the
Company, upon its request, for any assistance required by the Company in relation to my
employment, all in accordance with my actual scope of employment during the Term, as provided
under Section 1.2 of the Resignation from Employment letter and up to ___hours per month.

	8.	 	I hereby undertake to cooperate with the Company, both until the Termination Date and
afterwards, with respect to any existing or future legal proceedings, which were or will be
initiated by or against the Company, including providing truthful testimony in such
proceedings, insofar as I will be requested to do so, provided that the Company shall
reimburse me for all time and expenses actually incurred by me in this respect.

	9.	 	I hereby undertake to ensure that all of the terms of my employment with the Company shall be
kept in complete confidence, including any information regarding the termination of my
employment with the Company and the contents of this document.

	10.	 	I hereby confirm that I shall continue to comply with my obligations of the two-year
non-competition and non-solicitation, confidentiality, and intellectual property rights, as
required under the Employment Agreement and applicable law. It is hereby clarified that my 24
months non-compete obligation, as determined in section 6.2 of the Employment Agreement, shall
commence on the Determining Date and shall be in effect 24 months thereafter.

	11.	 	I hereby acknowledge that the ex gratia payments paid to me by the Company do not entitle
(explicitly or implicitly) any right to anyone who is not a party to it, except that my rights
to receive any ex-gratia payments shall be inured to the benefit of my successors.

	12.	 	I hereby confirm that I am fully aware of my rights according to law and that this
Confirmation and General Release is signed by me knowingly and voluntarily after I have
checked all my accounts with the Company and after I have investigated all my rights against
the Company. I further acknowledge that I was represented by a legal counsel of my choice.

	 	 	 
	          /s/ Isaac Angel	 	16.01.08
	          Signature

	 	Date

 

 

INDEMNIFICATION AGREEMENT

     WHEREAS, at the Company’s request you have served as an officer of the Company and, as a
result, may be subject to Proceedings (as defined below) arising from this service; and

     WHEREAS, you have agreed with the Company to a change in your role and responsibilities and in
connection therewith the Company has agreed to formalize the arrangements for indemnifying you in
connection with any such Proceedings;

     NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the
Company agrees as follows:

Section 1.  Definitions. For purposes of these Provisions:

     (a)“Company” means VeriFone Holdings, Inc its past present and future parent companies,
subsidiaries and affiliates and successors.

     (b)“Corporate Status” means your status as an officer, employee or agent of the Company or of
any other entity for which you are serving at the request of the Company.

     (c)“Expenses” shall include all reasonable fees and disbursements of counsel or other expenses
of the types customarily incurred in connection with prosecuting, defending, investigating, or
being or preparing to be a witness in a Proceeding.

     (d)“Proceeding” includes any threatened, pending or completed action, suit, arbitration,
investigation, administrative hearing or any other proceeding, whether civil, criminal,
administrative or investigative (including on appeal).

     Section 2. Indemnification — General. The Company shall indemnify, and advance Expenses to, you (a)
as provided in these Provisions and (b) otherwise to the fullest extent permitted by Delaware law
in effect on the date hereof and as amended from time to time; provided, however, that no change in
Delaware law shall have the effect of reducing the benefits available to you hereunder based on
Delaware law as in effect on the date hereof. For the avoidance of doubt, you shall not be
entitled to indemnification or advance of Expenses under these Provisions with respect to any
Proceeding brought by you, except for a Proceeding required to enforce these Provisions, and then
only to the extent authorized by these Provisions

     Section 3.    Proceedings Other Than by or in the Right of the Company. You shall be entitled to the
rights of indemnification provided in this Section 3 if, by reason of your Corporate Status, you
are, or are threatened to be, made a party to or a witness in any threatened, pending, or completed
Proceeding, other than a Proceeding by or in the right of the Company. Pursuant to this Section 3,
you shall be indemnified against all judgments, penalties, fines and amounts paid in settlement and
all Expenses actually and reasonably incurred by you or on your behalf in connection with a
Proceeding by reason of your Corporate Status unless it is established by court or arbitration
judgment that (i) the act or omission was material to the matter giving rise to the Proceeding,
was committed in bad faith and in a manner in which you did not reasonably believe

 

 

was in (or not
opposed to) the best interests of the Company, or (ii) in the case of any criminal Proceeding, you
had reasonable cause to believe that your conduct was unlawful.

     Section 4.  Proceedings by or in the Right of the Company. You shall be entitled to the rights of
indemnification provided in this Section 4 if, by reason of your Corporate Status, you are, or are
threatened to be, made a party to or a witness in any threatened, pending or completed Proceeding
brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this
Section 4, you shall be indemnified against all amounts paid in settlement and all Expenses
actually and reasonably incurred by you or on your behalf in connection with such Proceeding unless
it is established by court or arbitration judgment that your act or omission was material to the
matter giving rise to such a Proceeding, was committed in bad faith and in a manner in which you
did not reasonably believe was in (or not opposed to) the best interests of the Company.

     Section 5.  Court-Ordered Indemnification. Notwithstanding any other provision of these Provisions, a
court of appropriate jurisdiction, upon your application and such notice as the court shall
require, may order indemnification in the following circumstances:

     (a)if it determines you are entitled to reimbursement under Section 145 of the DGCL, the court shall
order indemnification, in which case you shall be entitled to recover the expenses of securing such
reimbursement; or

     (b)if it determines that you are fairly and reasonably entitled to indemnification in view of all the
relevant circumstances, whether or not you have met the standards of conduct set forth in Section
145 of the DGCL, the court may order such indemnification as the court shall deem proper. However,
indemnification with respect to any Proceeding by or in the right of the Company or in which
liability shall have been adjudged in the circumstances described in Section 145 of the DGCL shall
be limited to Expenses incurred by you or on your behalf in connection with a Proceeding.

     Section 6.   Indemnification for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision herein, and without limiting any
such provision, to the extent that you are, by reason of your Corporate Status, made a party to and
are successful, on the merits or otherwise, in the defense of any Proceeding, you shall be
indemnified for all Expenses incurred by you or on your behalf in connection therewith. If you are
not wholly successful in such Proceeding but are successful, on the merits or otherwise, as to one
or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify
you under this Section 6 for all Expenses incurred by you or on your behalf in connection with each
successfully resolved claim, issue or matter, allocated on a reasonable and proportionate basis.

     Section 7.    Advance of Expenses. Notwithstanding any provision herein to the contrary, the Company
shall advance all Expenses incurred by you or on your behalf in connection with any Proceeding
contemplated in Section 3 or Section 4 to which you are, or are threatened to be, made a party or a
witness, within 30 days after the receipt by the Company of notice from you requesting such advance
or advances from time to time, whether prior to or after final disposition of such Proceeding.
Such statement or statements shall reasonably evidence the Expenses

 

 

incurred by you and shall
include or be preceded or accompanied by a written affirmation by you of your good faith belief
that you are entitled to indemnification from the Company pursuant to applicable law and these
Provisions and a written undertaking by you, in such form as the Company may from time to time
reasonably require or as may be required under applicable law as in effect at the time of the
execution thereof, to reimburse any Expenses advanced to you as to which it shall ultimately be
established that you are not entitled to indemnification. To the extent that Expenses advanced to
you do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be
allocated on a reasonable and proportionate basis.

     Section 8.  Procedure for Determination of Entitlement to Indemnification.

     (a)To obtain indemnification and payment of Expenses under these Provisions, you shall submit to the
Company a written request, including therein or therewith such documentation and information as is
reasonably available to you and is reasonably necessary to determine the extent to which you are
entitled to indemnification. Your failure to notify the Company will not relieve it from any
obligation that it may have to you other than under these Provisions.

     (b)Upon your written request for indemnification pursuant to Section 8(a) hereof, a determination, if
required by applicable law, with respect to your entitlement thereto shall promptly be made by or
at the direction of the Board of Directors.

     Section 9.  Remedies. If (i) a determination is made that you are not entitled to indemnification under
these Provisions, (ii) Expenses are not advanced on a timely basis pursuant to these Provisions,
(iii) no determination of entitlement to indemnification shall have been made pursuant to Section
8(b) within 30 days after receipt by the Company of the request for indemnification, (iv) payment
of indemnification is not made pursuant to Section 6 within 30 days after receipt by the Company of
a written request therefor, or (v) payment of indemnification is not made within 30 days after a
determination has been made that you are entitled to indemnification, you shall be entitled to an
adjudication in an appropriate court located in the State of Delaware, or in any other court of
competent jurisdiction, of your entitlement thereto.

     Section 10.   Defense of the Underlying Proceeding.

     (a)You shall notify the Company promptly upon being served with or receiving any summons, citation,
subpoena, complaint, indictment, information, notice, request or other document relating to any
Proceeding which may result in the right to indemnification or the advance of Expenses hereunder;
provided, however, that the failure to give any such notice shall not affect your right to
indemnification or the advance of Expenses under these Provisions except to the extent that the
Company’s defense in such Proceeding or ability to secure insurance coverage is prejudiced thereby.

     (b)The Company shall have the right to defend you in any Proceeding which may give rise to
indemnification hereunder; provided, however, that the Company shall notify you of any such
decision to defend within 30 days following receipt of notice of any such Proceeding under Section
10(a) above.

 

 

     Section 11.   Sverability. If any of these Provisions shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the
remaining provisions (including, without limitation, each portion of any section hereof containing
any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest
extent possible, these Provisions (including, without limitation, each portion of any section
hereof containing any such provision held to be invalid, illegal or unenforceable, that is not
itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
manifested thereby.

     Section 12.  Governing Law. The parties agree that these Provisions shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflicts
of laws rules.

     In witness whereof, the Company has caused this Indemnification Letter of Agreement attached
as Appendix C to the Resignation letter of Agreement to be signed by its duly authorized
officer as of January ___, 2008.

	 	 	 	 	 	 	 
	 	 	VeriFone Holdings, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Doug G. Bergeron	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Doug G. Bergeron	 	 
	 

	 	Title:
	 	CEO	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Isaac Angel	 	 
	 	 	 	 	 
	 	 	ISAAC ANGEL

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