Document:

Exhibit

DESCRIPTION OF THE COMPANY’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

The following is a brief description of the Class A ordinary shares, nominal value $0.01 per share (the “Ordinary Shares”) of Cardtronics Plc (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934.

Description of Ordinary Shares

The following description of the Ordinary Shares, related provisions of the Company’s Articles of Association (the “Articles”) and applicable English Law is qualified in its entirety by, and should be read in conjunction with, the Articles and applicable English Law.

Issued Share Capital

The Company’s issued share capital as of February 27, 2020 is 44,914,118 Ordinary Shares.  Each issued Ordinary Share is fully paid. Pursuant to the Articles, subject to the provisions of the U.K. Companies Act 2006 (the “Act”), the Company may increase its share capital by allotting new shares in accordance with the Act and the Articles. The Board currently has authority, by an ordinary resolution of shareholders, through June 28, 2021 to allot up to 62,000,000 Ordinary Shares (or other equity securities, or rights to subscribe for or to convert or exchange any security, including convertible preference shares, convertible debt securities and exchangeable debt securities of a subsidiary, into shares of the Company).

The Company may also: by ordinary resolution consolidate and divide all or any of its share capital into shares of a larger nominal amount than its existing shares; by ordinary resolution sub-divide its shares, or any of them, into shares of a smaller nominal amount than its existing shares; and by special resolution reduce its share capital, any capital redemption reserve and any share premium account in any way.

In the future, the Company’s issued share capital can be determined by reference to the Company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission from time to time.  

Voting Rights

Holders of the Ordinary Shares are entitled to one vote per share on all matters to be voted upon by the shareholders. Holders of Ordinary Shares are not entitled to cumulate votes for the election of directors.

Dividends

Holders of Ordinary Shares are entitled to receive such dividends as may be declared from time to time by the Company’s Board of Directors (the “Board”), such dividends to be paid out of profits available for distribution. 

Right to Receive Liquidation Distributions

In the event of a voluntary winding up of the Company, the liquidator may, on obtaining any sanction required by law, divide among the shareholders (excluding shares held by any subsidiary of the Company) the whole or any part of the assets of the Company, whether or not the assets consist of property of one 

kind or of different kinds. The liquidator may also, with the same authority, transfer the whole or any part of the assets to trustees upon any trusts for the benefit of the shareholders as the liquidator decides. No past or present shareholder can be compelled to accept any asset which could subject him or her to a liability.

Preemptive or Similar Rights

The Ordinary Shares have no conversion rights and are not subject to further calls or assessments by the Company.

The Ordinary Shares are subject to statutory pre-emption rights under English Law unless such rights are disapplied for up to five years, subject to renewal, through the adoption of a special resolution of shareholders. As stated above, currently, the Board has the authority through June 28, 2021 to allot up to 62,000,000 Ordinary Shares (or other equity securities, or rights to subscribe for or to convert or exchange any security, including convertible preference shares, convertible debt securities and exchangeable debt securities of a subsidiary, into shares of the Company ) and to exclude preemptive rights in respect of such issuances.  It is expected that the Company would seek renewal of this authority from shareholders and would continue to do so in the future. The Company may also seek authorization from shareholders more frequently than every five years. 

Certain Anti-Takeover Effects

The mandatory offer provisions of the Company’s Articles may have the effect of delaying, deferring or discouraging transactions involving an actual or potential change in control of the Company.

The Board is authorized, without further action of its shareholders, but subject to its statutory and fiduciary duties, to give effect to a shareholder rights plan and to fix the terms thereof.  

The Board is divided into three classes, with the members of each class serving for staggered three-year terms. As a result, only one class of directors is elected at each annual general meeting of shareholders, with the other classes continuing for the remainder of their respective three-year terms. The classification of the Company’s board of directors, the lack of cumulative voting and certain limitations on shareholders’ powers to nominate directors may have the effect of making it more difficult for any party to obtain control of the Company by replacing the majority of the Board and to force an immediate change in the composition of the Board.
Transfer Agent

The transfer agent for the Ordinary Shares is Computershare Inc.

Listing

The Company’s Ordinary Shares are listed on the NASDAQ under the trading symbol “CATM.”Exhibit

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is entered into by and between Cardtronics USA, Inc. (the “Company”), a Delaware corporation, and Paul Gullo (the “Executive”) effective as of January 1, 2019.
WHEREAS, the Company and the Executive are parties to an Employment Agreement dated May 14, 2018 (the “Employment Agreement”); and
WHEREAS, the Company and the Executive desire to enter into this Amendment to amend certain terms of the Employment Agreement;
NOW, THEREFORE, in consideration of the premises set forth above and the mutual agreements set forth herein, the Company and the Executive hereby agree, effective as of the date first set forth above, that the Employment Agreement shall be and is hereby amended as hereafter provided:
1.Section 4.(a) of the Employment Agreement shall be deleted in its entirety and be replaced with the following:
4. Annual Bonus: Equity Plan Participation.
(a)  Cash Incentive Plan Awards. Executive shall be eligible to receive an annual bonus in respect of each calendar year during the Term (“Annual Bonus”) based on criteria determined in the sole discretion of the Board (or a committee thereof) as part of the Cardtronics, Inc. Annual Executive Cash Incentive Plan (and/or other then-current or similar or successor plan, the “AECIP”) and subject to the terms and conditions of the AECIP, it being understood that (a) the target Annual Bonus at planned or targeted levels of performance shall equal 60% of Executive’s Base Salary and (b) the actual amount of each Annual Bonus to be paid to the Executive shall be determined in the sole discretion of the Board (or a committee thereof) and may range between 0% and 150% of the target Annual Bonus. The Company shall pay each Annual Bonus with respect to a calendar year no later than March 15 of the calendar year following the year to which the Annual Bonus relates, provided that (except as otherwise provided in Section 10 of the Employment Agreement) Executive is employed by the Company on such date of payment.
2.References.  All references in the Employment Agreement to Agreement and any other references of similar import shall hereinafter refer to the Employment Agreement as amended by this Amendment.
3.Remaining Provisions. Except as expressly modified by this Amendment, the Employment Agreement shall remain in full force and effect.  This Amendment embodies the entire agreements and understanding of the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, oral or written relative thereto.
4.Governing Law.  This Amendment and all claims, causes of action, or proceedings (whether in contract, in tort, at law, or otherwise) that may be based upon, arise out of, or relate to this Amendment will be governed by the internal laws of the State of Texas, without regard to conflict of laws principles thereof.

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5.Amendment Effective Date. This Amendment shall be effective as of the date first listed above.
6.Counterparts.  This Amendment may be executed by either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all counterparts shall together constitute one and the same instrument.
7.An executed copy of the Employment Agreement is attached herein as Exhibit A for reference.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of this the  31st day of October, 2019.
EXECUTIVE    CARDTRONICS USA, INC.

By: /s/ Paul A. Gullo                                     By: /s/ Gary W. Ferrera                                   
Name: Paul A. Gullo                                           Name: Gary W. Ferrera                                  
Title: Chief Accounting Officer                          Title:   Chief Financial Officer                       

Attachments:

Exhibit A: The Executed Employment Agreement

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EXHBIT A

The Executed Employment Agreement (attached)

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FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is entered into by and between Cardtronics USA, Inc. (the “Company”), a Delaware corporation, and Dan P. Antilley (the “Executive”) effective as of January 16, 2020.
WHEREAS, the Company and the Executive are parties to an Employment Agreement dated October 9, 2018 (the “Employment Agreement”); and
WHEREAS, the Company and the Executive desire to enter into this Amendment to amend certain terms of the Employment Agreement;
NOW, THEREFORE, in consideration of the premises set forth above and the mutual agreements set forth herein, the Company and the Executive hereby agree, effective as of the date first set forth above, that the Employment Agreement shall be and is hereby amended as hereafter provided:
1.Section 2.2 of the Employment Agreement shall be deleted in its entirety and be replaced with the following:
Positions. From and after the Commencement Date, the Company shall employ Executive in the position of Executive Vice President, Operations and Chief Information Security Officer (“CISO”) of the Company or in such other position or positions as the parties mutually may agree, and Executive shall report to the Chief Executive Officer (“CEO”) of the Company.
2.References.  All references in the Employment Agreement to Agreement and any other references of similar import shall hereinafter refer to the Employment Agreement as amended by this Amendment.
3.Remaining Provisions. Except as expressly modified by this Amendment, the Employment Agreement shall remain in full force and effect.  This Amendment embodies the entire agreements and understanding of the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, oral or written relative thereto.
4.Governing Law.  This Amendment and all claims, causes of action, or proceedings (whether in contract, in tort, at law, or otherwise) that may be based upon, arise out of, or relate to this Amendment will be governed by the internal laws of the State of Texas, without regard to conflict of laws principles thereof.
5.Amendment Effective Date. This Amendment shall be effective as of the date first listed above.
6.Counterparts.  This Amendment may be executed by either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all counterparts shall together constitute one and the same instrument.
7.An executed copy of the Employment Agreement is attached herein as Exhibit A for reference.

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IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of this the 13th day of February, 2020.
EXECUTIVE    CARDTRONICS USA, INC.

By: /s/ Dan P. Antilley                                     By: /s/ Edward H. West                                   
Name: Dan P. Antilley                                          Name: Edward H. West                                  
Title: CISO - Operations EVP                          Title:   Chief Executive Officer                       

Attachments:

Exhibit A: The Executed Employment Agreement

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EXHIBIT A

The Executed Employment Agreement (attached)

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