Document:

Employment Agreement

 EXHIBIT 10.73 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Employment Agreement”) is made and
entered into as of the 30th day of June, 2002, by and among Danka Office Imaging Company (“Danka Office Imaging”), Danka Business Systems PLC (“Danka Business Systems”), Danka Holding Company (“Danka Holding”), and
Donald Thurman, an individual (“Executive”). Danka Office Imaging, Danka Business Systems, and Danka Holding are collectively referred to herein as the “Company.” 
 WITNESSETH: 
 WHEREAS, the Company wishes to assure itself of the services of
Executive, on the terms and conditions set forth herein; and Executive desires to be so employed by the Company on said terms. 
 NOW,
THEREFORE, in consideration of the foregoing, and of the mutual covenants and agreements herein contained, the parties agree as follows: 
 1.
    EMPLOYMENT.  The Company hereby employs Executive, and Executive hereby accepts employment with the Company, all upon the terms and subject to the conditions set forth in this Employment Agreement.

 2.     CAPACITY AND DUTIES.  Executive shall be employed in the capacity of Chief Growth and Marketing Officer
reporting to the Chief Executive Officer of the Company, or such other Executive as the CEO in his sole discretion shall designate. Executive shall direct and oversee the management and operations of the Customer/Employee Strategic Direction;
Corporate Advertising and Website; Key Growth Initiatives: Wellspring, Danka at the Desktop, Connectivity, and MVSO; Value Proposition; Public and Shareholder relations, Refinancing; Strategic Planning; and such other and further duties as the CEO
shall designate. 
 3.      EMPLOYMENT TERM. 
 (a)     Term.  Employment of Executive by the Company pursuant to this Employment Agreement shall begin on the date of execution of this Agreement, and continue until terminated by
either party as provided herein. The period during which Executive is employed by the Company pursuant to this Employment Agreement is referred to herein as the “Term” of this Employment Agreement. 
 4.     PLACE OF EMPLOYMENT. Executive’s principal place of work shall be located in the Atlanta, Georgia metropolitan area; however,
substantial travel will be required. 
  

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 5.     COMPENSATION. 
 (a)     Salary.  Beginning on January 7, 2002 and continuing during the Term, the Company shall pay Executive a
base salary at the rate of $200,000 per annum (the “Annual Base Salary”), payable in a manner consistent with the Company’s payroll procedures for U.S. salaried employees. The Human Resources Committee of the Board (the “H.R.
Committee”) shall review Executive’s Annual Base Salary at least annually and may increase, but not decrease, the Annual Base Salary. 
 (b)     Performance Bonuses.  In addition to the Annual Base Salary, Executive shall be entitled to receive an annual bonus under the performance bonus plan (the “Performance Bonus Plan”)
approved by the H.R. Committee, beginning in the Company’s Fiscal Year FY 2003, which begins April 1, 2002. Upon the Company’s achievement of one hundred percent (100%) of the budgeted target levels of the Performance Bonus Plan,
the Company shall pay Executive a bonus equal to $80,000. If the Company meets certain stretch objectives defined and set forth in the Performance Bonus Plan (as determined by the H.R. Committee), the Company will pay Executive additional bonuses in
accordance with such Plan. The Company shall pay any bonus earned by Executive in a lump sum cash payment, less applicable withholdings, as promptly after the end of the relevant accounting period as the H.R. Committee is able to certify the
Company’s achievement of the relevant financial goals, subject to any deferral election made by Executive under the terms of the Company’s deferred compensation plan for U.S. executives. The Company shall also provide you with special
bonus opportunities of up to $100,000.00 in your first year of employment as follows: 
  

					
	1)	  	Shareholder project completed by 4/30/02.	  	$10,000.
			
	2)	  	Danka at the Desktop business plan completed and approved
(if completed by 4/15/02).	  	$  7,500.
			
	3)	  	Service Engineer (“SE”) and Connectivity Business Plan
completed and approved (if completed by 4/151/02).	  	$  7,500.
			
	4)	  	Wellspring business plan completed and approved (if
completed by 6/30/02).	  	$  7,500.
			
	5)	  	MVSO Business Plan completed and approved
(if completed by 3/31/02).	  	$  7,500.
			
	6)	  	Financial Stakeholder Road Show completed
(if completed by 6/30/02).	  	$10,000.
			
	7)	  	Refinance successfully completed by FY03	  	$10,000.

  

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	7)	  	Employee/Customer Road show completed (prepare
show, visit significantly all Danka sites worldwide -
visiting 25% per quarter, hold employee and customer
show in each location and
report on each)	  	 	$40,000.
		  	 1Q 25% completed $10,000
	  		
		  	 2Q 25% completed $10,000
	  		
		  	 3Q 25% completed $10,000
	  		
		  	 4Q 25% completed $10,000
	  		
			
		  	Total 1st Year special bonus opportunity	  	$	100,000.

 (c)     2nd Year Salary.  The Company will increase your salary by the amount you actually earned in your 1st year special bonus opportunities, up to $50,000 for the second year of employment. (Note: All 1st Year bonus opportunities cease in Year 2 and thereafter and in subsequent years your I.B. will be adjusted to represent 40% of your revised salary. 
 6.     ADDITIONAL COMPENSATION AND BENEFITS.  During the Term, the Company shall pay to or provide Executive with the following additional compensation and benefits: 
  

	 	(a)	Stock Options. 

 (i)     Executive
shall be eligible to participate in the Company’s stock option plans available to the Company’s employees in accordance with the terms and conditions of such plans. Any grants under the plan shall be at the sole discretion of the Human
Resources Committee. 
 (ii)     Executive shall receive from the Company a registered stock option grant in the amount
of 75,000 America Depository Shares (“ADSs”) of Danka Business Systems PLC. Vesting of 50,000 of such options will be in accordance with the Company Stock Option Plan (1/3 per year for 3 years) and will be at such price as designated by
the H. R. Committee. You will also be awarded 25,000 option in FY03, which will cliff vest 5 years from the date of grant. Such options shall vest immediately if either: 1) the Company is refinanced during FY03; or 2) the Company achieves $10
Million in combined revenue from its MCSO, Wellspring, Danka @the Desktop and SE Hour initiatives during FY03. In the event the above goals are not met, these 25,000 options shall become vested on the fifth anniversary of the date such options are
granted. The Company shall file a registration statement on Form S-8 with the Securities Exchange Commission such that all of the ADSs subject to the option grant shall be registered shares upon the exercise of the option. 
  

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 (iii)     If Executive seeks to acquire by exercise of any stock option all or part
of the shares that have become exercisable and the Company declines to allow him to acquire such shares, whether because the Company has not obtained shareholder approval for the option or otherwise, the Company shall pay Executive, within ten
(10) days after his attempt to acquire such shares, (1) an amount equal to the difference between the number of shares Executive sought to acquire multiplied by the closing price for a share of the Company’s common stock as of the
date Executive sought to acquire such shares, on the one hand, and the option exercise price per share multiplied by the number of shares Executive sought to acquire, on the other hand, and (2) an additional payment sufficient to pay any
federal, state, and local income tax and social security, or other employment tax on the amount paid under Section 6(a)(iii)(1), as well as any additional federal, state and local income tax and social security or other employment tax on any
such gross-up payment, determined by using the top marginal rates of federal, state, and local income taxes and social security, or other employment taxes applicable to the Executive’s taxable income in effect during the year of payment.

 (b)    Executive Deferred Compensation Plan.  Executive shall be eligible to participate in the
Company’s Executive deferred compensation plan in accordance with its terms and conditions. 
 (c)     
Insurance.  The Company shall provide Executive and his dependents with reasonable and adequate health, dental, short term disability, long term disability, and life insurance. Such insurance coverage shall be no less favorable than
that from time to time made available to other senior executives of the Company located in the United States. 
 (d)
    401K Plan.  Executive shall be entitled to participate in the Company’s 401K plan in accordance with its terms and conditions. 
 (e)     Vacation.  Executive shall be entitled to at least three (3) weeks of paid vacation during each year
during the Term, prorated for partial years. Such vacation shall be subject to the Company’s policies and procedures for senior executives. 
 (f)     Business Expenses.  The Company shall promptly reimburse Executive for all reasonable, ordinary and necessary expenses he incurs in connection with his employment by the Company (including, but
not limited to, automobile and other business travel, and customer entertainment expenses) on the same basis as other senior executives of the Company. 
 (g)     Indemnification.  The Company will, to the fullest extent permitted by law, indemnify and hold Executive harmless from any and all liability (including, without limitation,
judgments, fines, settlement payments, expenses, costs, and attorneys’ fees) arising from his service as an employee, officer, or director of the Company. To the 

  

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fullest extent permitted by law, if there is a potential or actual conflict of interest between the Company and Executive, the Company will advance legal
fees and expenses to Executive for counsel selected by Executive in connection with any litigation, investigation, action, suit, or other proceeding related to Executive’s employment with the Company or his performing services for the Company,
whether as a director, officer, or employee of the Company. During the Term, the Company shall maintain adequate and reasonable Directors and Officers liability insurance naming Executive as an insured. 
 (h)     Other Employee Benefits.   Executive shall also be entitled to any other fringe benefits, bonuses, and
similar programs, including regular holidays, and shall be eligible to participate in all plans or arrangements maintained by the Company for the benefit of its employees, officers, or directors, including without limitation all compensation,
welfare, bonus, incentive, retirement, thrift, pension, profit sharing, deferred compensation, employee loan, and insurance plans or arrangements. Executive shall at all times receive benefits no less favorable than those received by other senior
executives. 
  
 7.     TERMINATION BY THE COMPANY OR BY
EXECUTIVE.   This Employment Agreement may be terminated as follows: 
  

	 	(a)	By the Company. 

 (i)    
For Cause.   The Company may terminate this Employment Agreement and Executive’s employment with the Company at any time for Cause (as defined in Section 9) (“Cause Termination”); provided, however, that
the Company shall give Executive written notice of Cause Termination specifying the reason for the termination, and Executive shall have the opportunity to address the Board before he is terminated for Cause. 
 (ii)     By Company Notice.   The Company may terminate this Employment Agreement and Executive’s employment
with the Company upon sixty (60) days written notice for any reason not included in the definition of Cause (“Company Notice Termination”). 
 (b)     Death or Disability.   This Employment Agreement and Executive’s employment with the Company will terminate immediately upon Executive’s death or Disability (as
defined in Section 9) (“Death or Disability Termination”). If either party terminates Executive’s employment due to Disability, the terminating party shall give the other party written notice to that effect. 
 (c)     By Executive. 
  

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 (i)     For Good Reason.   Executive may terminate this Employment
Agreement and Executive’s employment by the Company at any time for Good Reason (as defined in Section 9) (“Good Reason Termination”). In the event the Company disputes Executive’s Good Reason Termination, the Company shall
notify Executive in writing of such dispute within ten (10) days of receiving notice of such termination for Good Reason. If the Company does not so notify Executive within the ten (10) day period, the Company shall be deemed to have
accepted Executive’s determination of Good Reason. 
 (ii)     By Executive Notice.   Executive
may terminate this Employment Agreement and Executive’s employment with the Company for any reason not included in the definition of Good Reason by giving the Company ninety (90) days written notice of such termination (“Executive
Notice Termination”). 
  
  
 8.     PAYMENTS UPON TERMINATION. 
 (a)     Company Notice
Termination and Good Reason Termination.   If the Company terminates Executive’s employment for any reason other than for Cause (as defined in Section 9) or if Executive terminates his employment for Good Reason (as defined
in Section 9), within the first year of employment the Company shall pay to Executive (subject to withholding of applicable taxes) a severance of $200,000. If such termination occurs after the first year of employment Executive shall receive a
severance of $400,000. Such severance shall be paid in equal installments over twelve (12) months on the Company’s standard bi-weekly Company payroll dates, beginning one (1) month following the date of termination providing Executive
has executed an appropriate Release of Claims and Non-Compete/Non-Solicitation Agreement. Executive shall be obligated to use commercially reasonable efforts to obtain new employment during any severance period and, if Executive does obtain
reasonably comparable employment during such severance period. Company reserves the right to dissolve any severance payments or other continuing benefits hereunder. The Company shall continue to provide Executive and his family, for a period of
twenty-four (24) months after the date of termination, with the same insurance benefits coverage being provided to Executive under Section 6(c) on the date the notice of termination is given. Executive shall also be entitled to a pro-rata
portion of the performance bonus under Section 5(b) to which he would have been entitled in the year of termination if his employment had not terminated. Executive shall also be entitled to any of his Annual Base Salary accrued through the date
of termination, payments for any accrued but unused vacation for the year of termination, any bonuses earned but not previously paid with respect to the accounting period of the Company most recently ended, and any vested benefits payable to
Executive under the terms of any deferred compensation plan, 401K plan, stock option plan, or other benefit plans maintained by the Company in which Executive participated. Additionally, notwithstanding the terms of the Company’s stock option
plan(s), all stock options 

  

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received by Executive shall become fully vested and immediately exercisable upon a Company Notice Termination or Good Reason Termination. Such stock options
shall remain exercisable for a period of not less than twenty-four (24) months. All of Executive’s other unvested benefits, including, without limitation, any Company 401K contributions or profit sharing contributions, shall immediately
vest upon a Company Notice Termination or Good Reason Termination. In the event termination is for Good Reason under paragraph 9(c)(ii), at any time, severance shall be in the amount of 12 months base salary, and benefits in the duration of 24
months hereunder shall be limited to 12 months. 
 (b)     Cause Termination and Executive Notice
Termination.  If Executive’s employment is terminated by the Company for Cause (as defined in Section 9) or if Executive terminates his employment for any reason other than Good Reason (as defined in Section 9),
Executive shall be entitled to receive any of his Annual Base Salary accrued through the date of termination, any accrued but unpaid vacation pay for the year of termination, any bonuses earned but not previously paid with respect to the accounting
period of the Company most recently ended, and any vested benefits payable to Executive under the terms of any deferred compensation plan, 401K plan, stock option plan, or other plans maintained by the Company in which Executive participates.
Notwithstanding the terms of the Company’s stock option plan(s), Executive shall not forfeit any vested options upon a Cause Termination or Executive Notice Termination, and all such vested options shall remain exercisable for a period of at
least twenty-four (24) months 
 (c)     Death or Disability Termination.  If Executive’s
employment is terminated due to his death or Disability (as defined in Section 9), the Company will also continue to pay Executive (or his estate), as severance, the Annual Base Salary through the end of the month of termination. Executive (or
his estate) shall also be entitled to receive any of his Annual Base Salary accrued through the date of termination, any accrued but unpaid vacation pay for the year of termination, any bonuses earned but not previously paid with respect to the
accounting period of the Company most recently ended, and any vested benefits payable to Executive under the terms of any deferred compensation plan, 401K plan, stock option plan, or other plans maintained by the Company in which Executive
participates. The Company shall continue to provide Executive (if Disabled) and his family, for a period of twenty-four (24) months after the date of termination, with the same insurance benefits required by Section 6(c) on the date Death
or Disability Termination occurs. Additionally, notwithstanding the terms of the Company’s stock option plans, all stock options received by Executive shall become fully vested and immediately exercisable upon a Death or Disability Termination.
Such stock options shall remain exercisable for a period of not less than twenty-four (24) months. All of Executive’s other unvested benefits, including, without limitation, any Company 401K contributions or profit sharing contributions,
shall immediately vest upon a Death or Disability Termination. 
  

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 9.     DEFINITIONS.   In addition to the words and terms elsewhere defined in this
Employment Agreement, certain capitalized words and terms used in this Employment Agreement shall have the meanings given to them by the definitions and descriptions in this Section 9 unless the context or use indicates another or different
meaning or intent, and such definition shall be equally applicable to both the singular and plural forms of any of the capitalized words and terms herein defined. The following words and terms are defined terms under this Employment Agreement:

 (a)     Cause.  For purposes of this Employment Agreement, the term “Cause” shall mean and
be limited to: 
 (i)     Executive was convicted of a felony or entered a guilty or nolo contendere plea to such
a crime; 
 (ii)     Executive was convicted of any lesser crime committed in connection with the performance of his
duties hereunder involving dishonesty, fraud or moral turpitude; or 
 (iii)    Executive’s gross negligence in, or willful
failure to substantially perform his material duties in accordance with Section 2 herein (other than any such failure resulting from Executive’s Disability, as defined herein) which gross negligence or willful failure has a material
adverse effect on the Company; provided, however, that such gross negligence or willful failure shall not be considered Cause unless it continues after the Company has made a written demand for substantial performance on Executive and
Executive has failed to correct the acts or omissions complained of after a reasonable opportunity (of not less than sixty (60) days) to do so. 
 (b)     Disability.   For purposes of this Employment Agreement, the term “Disability” shall mean the inability of Executive to perform Executive’s essential duties
and responsibilities (even with reasonable accommodation) under this Employment Agreement for a period of one hundred and eighty (180) consecutive days during any twelve (12) month period by reason of Executive’s mental or physical
disability. Both the Company and Executive may appoint a qualified physician to determine whether Executive is Disabled. If those physicians cannot agree, the physicians shall mutually appoint a third qualified physician, whose determination of
whether Executive has a Disability shall be final. 
 (c)     Good Reason.  For purposes of this
Employment Agreement, the term “Good Reason” shall mean: 
 (i)     the Company materially breaches a term of
this Employment Agreement (including, without limitation, the failure of the Company to pay or provide 

  

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Executive any of the compensation or benefits to which he is entitled under this Employment Agreement), which breach was not corrected by the Company within
thirty (30) days after receiving written notice of such breach from Executive; 
 (ii)     the relocation of
Executive’s principal office, without Executive’s prior written consent, more than forty (40) miles away from the Company’s Atlanta, Georgia office; 
 (iii)    the Company’s material reduction of Executive’s Base Salary or incentive bonus percentage and/or benefits hereunder without Executive’s prior written consent; 
 (iv)    any removal of Executive from, or the failure to appoint, elect, reappoint, or reelect Executive to, the position of Chief Growth and
Marketing Officer. 
 (d)     Restricted Area.  For purposes of this Employment Agreement, the term
“Restricted Area” shall mean the entire world. 
 10.     NON-COMPETITION AND CONFIDENTIALITY. 
 (a)     Non-Competition.  During the Term and for a period of twenty-four (24) months following the termination
of Executive’s employment hereunder for Good Cause or without Good Reason, Executive shall not, in the Restricted Area, directly or indirectly, enter the employ of, or render any services to, any person, firm or corporation engaged in any
business competitive with the businesses engaged in by the Company, any constituent partners of the Company or any of their respective parents, subsidiaries or affiliates; further, Executive shall not engage in such business, directly or indirectly,
as an individual, partner, shareholder, director, officer, principal, agent, employee, trustee, consultant, or any other relationship or capacity; provided, however, that nothing contained in this Section 10 shall be deemed to prohibit
Executive from acquiring, solely as an investment, a less than five percent (5%) interest in the equity of any publicly traded corporation or limited partnership. 
 (b)     Non-Solicitation of Employees.  During the Term and for a period of twenty-four (24) months following the termination of Executive’s employment hereunder for Good
Cause or without Good Reason, Executive, except within the course of the performance of his duties hereunder, shall not solicit for employment any current employee of the Company, any constituent partner of the Company, or any of their respective
parents, subsidiaries, or affiliates, if Executive has had material business contact with such individual during the Term. 
 (c)     Confidentiality.  Executive shall not, at any time hereafter, disclose to any person, firm or corporation or otherwise use any confidential information regarding the 

  

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customers, suppliers, market arrangements, or methods of operations of the Company, any constituent partner of the Company or any of their respective
parents, subsidiaries, or affiliates or any other information of the Company, any constituent partner of the Company or any of their respective parents, subsidiaries or affiliates, except to the extent necessary to conduct the business of the
Company, or to comply with law or the valid order of a governmental agency or court of competent jurisdiction. Without limiting the generality of the foregoing, the Parties acknowledge and agree that all information not otherwise generally known to
the public relating to each of (i) this Agreement, or (ii) the Company, any constituent partner of the Company or any of their respective parents, subsidiaries, or affiliates, is confidential and proprietary and is not to be disclosed, to
any persons or entities or otherwise used, except to the extent necessary to conduct the business of the Company, or to comply with law or the valid order of a governmental agency or court of competent jurisdiction. 
 (d)     Rights to Innovations.  Any invention, improvement, design, development or discovery conceived, developed,
invented or made by Executive, alone or with others, during his employment hereunder and applicable to the business of the Company, its parents, subsidiaries or affiliates shall become the sole and exclusive property of the Company. Executive shall
(i) disclose the same completely and promptly to the Company, (ii) execute all documents requested by the Company in order to vest in the Company the entire right, title and interest, in and to the same, (iii) execute all documents
required by the Company for the filing, and prosecuting of such applications for patents, copyrights and/or trademarks, which the Company, in its sole discretion, may desire to prosecute, and (iv) provide to the Company, at the Company’s
expense, all assistance it may reasonably require including, without limitation, the giving of testimony in any suit, action or proceeding, in order to obtain, maintain and protect the Company’s rights therein and thereto. 
 (e)     Injunctive Relief.  Any breach or threatened breach by Executive of any provision of this Section 10
shall cause the Company irreparable harm which cannot be remedied solely by damages. In the event of a breach or threatened breach by Executive of any of the provisions of this Section 10, the Company shall be entitled to injunctive relief
restraining Executive. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available at law or in equity in the event of such breach or threatened breach, including the recovery of damages. 
 11.     SUCCESSORS.  This Employment Agreement shall be binding on the Company and any successor to its business or to a majority of
its business assets and the Company shall require any successor in interest (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to expressly assume and agree to perform this Employment Agreement; provided, however,
that no such assumption shall relieve the Company of its obligations hereunder. 
  

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 12.     BINDING EFFECT.  This Employment Agreement shall inure to the benefit of and
be enforceable by Executive’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
 13.     MODIFICATION AND WAIVER.  No provision of this Employment Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in a writing that specifies
the specific provision affected, which writing shall be signed by Executive and such officer of the Company as may be specifically designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Employment Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 
 14.     AMENDMENTS.  No amendments or variations of the terms and conditions of this Employment Agreement shall be valid unless the
same is in a writing that specifies the term or condition affected, which writing is signed by Executive and such officer of the Company as may be specifically designated by the Board. 
 15.     SEVERABILITY.  The invalidity or unenforceability of any provision of this Employment Agreement, whether in whole or in part, shall not in any way affect the validity
and/or enforceability of any other provision herein contained. Any invalid or unenforceable provision shall be deemed severable to the extent of any such invalidity or unenforceability. 
 16.     ENTIRE AGREEMENT.   This Employment Agreement sets forth the entire agreement and understanding of the Company and Executive in respect of the terms and conditions of
Executive’s employment after the Commencement Date, and supersedes all prior employment agreements, covenants or representations or warranties, whether oral or written, made by the parties, or any representative of the Company, with respect to
such terms and conditions of employment; provided, however, that this Employment Agreement does not supersede or affect the Change of Control Agreement between Executive and the Company. 
 17.     NOTICES.   All notices, communications and deliveries hereunder shall be made in writing signed by or on behalf of the party
making the same and shall be delivered (a) personally; (b) by telecopy transmission with a copy sent by U.S. mail, first class, postage prepaid; (c) by registered or certified mail (return receipt requested); or (d) by any
national overnight courier service (with postage and other fees prepaid). All such notices, communications, and delivers shall be addressed as follows: 
  

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		  	If to the Company:	  	
			
		  	Danka Office Imaging Company	  	
		  	11201 Danka Circle North	  	
		  	St. Petersburg, Florida 33716	  	
		  	Attn: General Counsel	  	
		  	Telephone No.: (727) 579-2801	  	
		  	Telecopy No.:   (727) 579-2880	  	
			
		  	and:	  	
			
		  	Danka Business Systems PLC	  	
		  	Masters House	  	
		  	107 Hammersmith Road	  	
		  	London, England w14 OQH	  	
		  	Attn: Secretary	  	
			
		  	If to the Executive:	  	
			
		  	Donald Thurman	  	
			
		  	                                      
                                     	  	
			
		  	                                      
                                        
                      	  	
		  	Telephone No.:                                   
             	  	
			
		  	Telecopy No:                                   
                	  	
			
		  	with a copy to:	  	
			
		  	                                      
                                     	  	
			
		  	                                      
                                     	  	
			
		  	                                      
                                     	  	

  
 or to such other representative or at such
other address of a party as such party hereto may furnish to the other parties in writing. Any such notice, communication or delivery shall be deemed given or made (a) on the date of delivery if delivered in person (by courier service or
otherwise), (b) upon transmission by facsimile if receipt is confirmed by telephone, provided transmission is made during regular business hours, or if not, the next business day, or (c) on the fifth (5th) business day after it is
mailed by registered or certified mail. 
  

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 18.     GOVERNING LAW.  This Employment Agreement shall be construed and enforced
pursuant to the laws of the State of Florida. 
 19.     ARBITRATION.  Any controversy or claim arising out of or
relating to this Employment Agreement or the breach thereof, other than a claim for injunctive relief, shall be settled by arbitration in accordance with the Employment Arbitration Rules of the American Arbitration Association (the
“Rules”) in effect at the time demand for arbitration is made by any party. This arbitration shall be conducted before three (3) arbitrators. One arbitrator shall be named by the Company, a second shall be named by Executive, and the
third arbitrator shall be named by the two arbitrators so chosen. In the event that the third arbitrator is not agreed upon, he or she shall be named by the American Arbitration Association. The arbitration shall occur in St. Petersburg, Florida or
such other location as may be mutually agreed to by the Company and Executive. The award made by all or a majority of the panel of arbitrators shall be final and binding, and judgment may be entered in any court of law having competent jurisdiction.
The award is subject to confirmation, modification, correction, or vacation only as explicitly provided in Title 9 of the United States Code, as amended. 
 20.     NO MITIGATION OR OFFSET.  Executive shall not be required to mitigate the amount of any severance or termination payment provided for in this Employment Agreement by seeking other employment or
otherwise, nor shall the amount of any payment or benefit provided for in this Employment Agreement be reduced by any compensation or income Executive may receive from any source. In addition, no payments to Executive under this Employment Agreement
may be subject to any offset or setoff due to any claim the Company, or its parents, affiliates, or subsidiaries, may have against Executive. 
 21.     ATTORNEYS’ FEES.  The Company will promptly reimburse Executive for all attorneys’ fees (for counsel selected by Executive) and expenses arising out of any dispute under or in
connection with this Employment Agreement (whether litigation or arbitration) to the extent Executive is the prevailing party. Executive shall in no way be responsible or liable for the Company’s attorneys’ fees and expenses in any dispute
arising under or in connection with this Employment Agreement, and no award or order relating to this Employment Agreement shall award the Company its attorneys’ fees. 
 22.     SOURCE OF PAYMENTS.  All salary, bonus, severance, and all other payments to Executive under this Employment Agreement shall be paid to Executive by the Company through its
U.S. payroll system and shall be made in cash in U.S. dollars. If the Company should fail to make any such payment to Executive when due, Danka Office Imaging, Danka Holding, and Danka Business Systems shall be jointly and severally liable to
Executive for such payments. 
 23.     REPRESENTATION.  The Company represents and warrants that it is fully authorized
and empowered to enter into this Employment Agreement and that the performance of its 

  

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obligations under this Employment Agreement will not violate any agreement between it and any other person, firm, or organization. 
 24.     COUNTERPARTS.  This Employment Agreement may be executed in more than one (1) counterpart and each counterpart shall be
considered an original. 
 IN WITNESS WHEREOF, this Employment Agreement has been duly executed by the Company and Executive as of the date
first above written. 
 SIGNATURES ON FOLLOWING PAGE 
  

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		  	DANKA BUSINESS SYSTEMS PLC	  	
			
		  	                                      
                                 	  	
		  	By:                                      
                           	  	
		  	Title:                                     
                         	  	
			
		  	DANKA HOLDING COMPANY	  	
			
		  	                                      
                                 	  	
		  	By:                                      
                           	  	
		  	Title:                                     
                         	  	
			
		  	DANKA OFFICE IMAGING COMPANY	  	
			
		  	By:                                      
                           	  	
		  	Title:                                     
                         	  	
			
		  	EXECUTIVE	  	
			
		  	                                      
                                 	  	
		  	Donald Thurman	  	

  

 15Amended and Restated Sonic Automotive, Inc. Incentive Compensation Plan

 Exhibit 10.3 
 AMENDED AND RESTATED 
 SONIC AUTOMOTIVE, INC. INCENTIVE COMPENSATION PLAN 
 AMENDED AND RESTATED AS OF APRIL 19, 2007 
 Section 1.    Purposes 
 The purpose of the Sonic Automotive, Inc. Incentive Compensation Plan is to
provide incentives to highly-qualified executives and other key employees in an effort to motivate them to continue service with the Company, devote their best efforts to the Company and improve the Company’s economic performance, thus
enhancing the value of the Company for the benefit of shareholders. An additional purpose of the Plan is to serve as a qualified performance-based compensation program under Section 162(m) of the Internal Revenue Code of 1986, as amended, in
order to preserve the Company’s tax deduction for compensation paid under the Plan to Covered Employees. 
 Section 2.    Definitions 
 Throughout this Plan, when capitalized the following
terms shall have the respective meanings set forth below: 
 (a) “Board” shall mean the Board of Directors of the
Company. 
 (b) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 (c) “Committee” shall mean the Compensation Committee of the Board or a subcommittee thereof, provided that the Committee shall
consist of two or more members each of whom is an outside director within the meaning of Section 162(m) of the Code. 
 (d) “Company” shall mean Sonic Automotive, Inc., a corporation organized under the laws of the State of Delaware, or any successor corporation. 
 (e) “Covered Employee” shall have the meaning set forth in Section 162(m)(3) of the Code (or any successor provision).

 (f) “Incentive Award” shall mean an incentive compensation award granted pursuant to the Plan, the payment of
which shall be contingent upon the attainment of Performance Goals with respect to a Performance Period. 
 (g)
“Participant” shall mean an executive officer or other key employee of the Company or one of its Subsidiaries who is selected by the Committee to participate in the Plan. 
 (h) “Performance Goals” shall mean the criteria and objectives that must be met during the Performance Period as a condition of
the Participant’s receipt of payment with respect to an Incentive Award, as described in Section 5 hereof. 
 (i)
“Plan” shall mean this Sonic Automotive, Inc. Incentive Compensation Plan, as amended from time to time. 
 (j)
“Performance Period” shall mean the period designated by the Committee during which the Performance Goals with respect to a particular Participant will be measured. 
 (k) “Subsidiary” shall mean any subsidiary or other business organization in which the Company owns, directly or indirectly,
more than 50% of the voting power, stock or capital interest. 
 Section 3.    Administration 
 The Plan shall be administered by the Committee. The Committee shall have the authority in its sole discretion, subject to the provisions of the Plan, to
administer the Plan and to exercise all of the powers and authorities either specifically granted to it under the Plan or necessary or advisable in the administration of the Plan, including, without limitation, the authority to grant Incentive
Awards, to determine the persons to whom and the time or times at which Incentive Awards shall be granted, to determine the terms, conditions, restrictions, Performance Period and Performance Goals relating to any 

  

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Incentive Award, to adjust compensation payable upon attainment of Performance Goals (subject to the limitations of the Plan), to construe and interpret the
Plan and any Incentive Awards, to prescribe, amend and rescind rules and regulations relating to the Plan, and to make all other determinations deemed necessary or advisable for the administration of the Plan. 
 All decisions, determinations and interpretations of the Committee shall be final and binding on all persons, including the Company, the Participant (or
any person claiming any rights under the Plan through any Participant) and any shareholder. 
 No member of the Board or the Committee shall
be liable for any action taken or determination made in good faith with respect to the Plan or any Incentive Award granted hereunder. 
 Section 4.    Eligibility 
 Executive officers of the Company and key employees of the Company and
its Subsidiaries who are designated by the Committee may participate in the Plan. In determining the persons who may participate in the Plan, the Committee may take into account such factors as the Committee shall deem relevant in connection with
accomplishing the purposes of the Plan. The fact that an executive officer or key employee has been designated to participate in the Plan for one Performance Period does not assure that such person will be eligible to participate in any subsequent
Performance Period. 
 Section 5.    Incentive Awards and Performance Goals 
 (a) In General.    The Committee shall establish in writing for each Participant the applicable Performance Period, the amount
of or the formula for determining the actual Incentive Award for such Participant (which may include the establishment of a target Incentive Award) with respect to such Performance Period, the Performance Goal(s) that must be achieved in order for
the Participant to receive an Incentive Award under the Plan with respect to such Performance Period, and any other conditions that the Committee deems appropriate and consistent with the Plan, and in the case of Covered Employees, with
Section 162(m) of the Code. All of the foregoing must be established in writing by the Committee within ninety (90) days after the beginning of the Performance Period (or, if earlier, by the date on which twenty-five percent (25%) of
the Performance Period has elapsed), provided that achievement of the Performance Goals must be substantially uncertain at the time they are established. 
 (b) Performance Goals.    The Committee shall establish one or more Performance Goals for each Participant that are objectively determinable (i.e., such that a third party with knowledge of
the relevant facts could determine whether the goals have been met). Such Performance Goals shall be based on one or more of the following, as determined in the sole discretion of the Committee: stock price; earnings per share; net earnings;
operating or other earnings; profits; revenues; net cash flow; financial return ratios; stockholder return; return on equity; return on investment; debt rating; Company-wide sales; dealership sales; expense reduction levels; return on net assets;
debt to equity ratio; debt to capitalization ratio; growth in assets, sales, or market share; customer satisfaction; or strategic business objectives based on meeting specified revenue goals, market penetration goals, geographic business expansion
goals, cost targets, or goals relating to acquisitions or divestitures. Performance Goals may be based on the performance of the Participant’s division, business unit or employing Subsidiary, based on the performance of one or more divisions,
business units or Subsidiaries, based on the performance of the Company and its Subsidiaries as a whole, or based on any combination of the foregoing. Performance Goals may be either absolute in their terms or relative. Performance Goals may provide
for the inclusion or exclusion of items such as the effect of unusual charges or income items or other events, including acquisitions or dispositions of businesses or assets, restructurings, reductions in force, or changes in accounting principles
or tax laws that occur during the Performance Period. The Performance Goals established by the Committee may be (but need not be) particular to a Participant and/or different each Performance Period. The Committee also may establish subjective
Performance Goals for Participants, provided that for Covered Employees, the subjective Performance Goals may be used only to reduce, and not increase, the Incentive Award otherwise payable under the Plan. 
 (c) Incentive Awards.    In accordance with subparagraph (a) above, the Committee must establish in writing the amount of
or method for calculating a Participant’s potential Incentive Award for each Performance Period. The potential Incentive Award must be expressed in terms of an objective formula or standard, and shall be expressed as either a dollar amount, a
percentage of salary, a percentage of the applicable criteria underlying the specified Performance Goal(s) (or a percentage thereof in excess of a threshold amount) or otherwise. The foregoing also may be expressed in the form of a range, pursuant
to which the actual amount of an Incentive Award payable under the Plan may vary depending upon the extent to which the Performance Goals for the Performance Period have been attained. The Committee also may establish a Participant’s 

  

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potential Incentive Award as a percentage of a bonus pool; provided, however, that the amount of the bonus pool (or the formula for determining the amount of
the bonus pool) shall be established in accordance with the requirements of this Section 5 and that the sum of the individual maximum percentages of the bonus pool that each Participant potentially could receive shall not exceed 100%.

 The formula for determining the actual amount of the Incentive Award must be such that a third party having knowledge of the extent to
which the Performance Goals have been attained could calculate the amount to be paid to the Participant. However, the Committee may, in its discretion, reduce or eliminate the amount payable to any Participant (including a Covered Employee), in each
case based upon such factors as the Committee may deem relevant, but shall not increase the amount payable to any Covered Employee in a manner that would cause the Incentive Award to fail to qualify as performance-based compensation under
Section 162(m) of the Code. Notwithstanding any other provision of the Plan, the maximum amount payable with respect to an Incentive Award to any Participant for any calendar year shall not exceed $3,000,000. 
 (d) Payment of Incentive Awards. 
 (i) Conditions on Payment.    Payment of an Incentive Award shall be made to a Participant for a particular Performance Period only if: (A) the Committee has certified in writing that
extent to which the applicable Performance Goals and any other material terms of the Incentive Award have been achieved or exceeded, and (B) except as otherwise set forth below in Section 5(d)(ii), the Participant remains employed by the
Company or one of its Subsidiaries on the date of payment of the Incentive Award (or, alternatively, on the last day of the Performance Period, if the Committee shall have substituted such alternative requirement for such Participant at the time it
established the Performance Goals for such Performance Period). 
 (ii) Termination of
Employment.    Unless otherwise determined by the Committee, a Participant shall not be entitled to payment of an Incentive Award if the Participant does not remain continuously employed by the Company or one its Subsidiaries
until the scheduled date of payment of such Incentive Award. Notwithstanding the foregoing, unless otherwise determined by the Committee, in the event a Participant’s employment terminates due to death, disability or retirement (as determined
in the discretion of the Committee), the Participant (or his or her estate or the persons to whom the right to payment under this Plan passes by will or the laws of descent and distribution) shall be eligible to receive the prorated amount of the
Incentive Award for which the Participant otherwise would have been eligible based upon the portion of the Performance Period during which he or she was so employed so long as the Performance Goals are subsequently achieved. Payment of such prorated
Incentive Award shall be paid in accordance with the terms of Section 5 (d)(iii) and (iv). 
 (iii) Timing of
Payment.    Following the end of the Performance Period, any payment to be made with respect to an Incentive Award shall be made as soon as administratively practicable following the Committee’s certification in
accordance with Section (d)(i) above; provided, however, that in all cases, any such payment shall be made no later than March 15 of the calendar year following the calendar year in which such payment is no longer subject to a “substantial
risk of forfeiture” (within the meaning of Section 409A of the Code and applicable regulations and guidance issued thereunder). 
 (iv) Form of Payment.    Payment of each Participant’s Incentive Award for a Performance Period shall be made in cash (or its equivalent) in a lump sum, subject to applicable tax and
other withholding. 
 Section 6.    Withholding Taxes. 
 The Company or Subsidiary employing any Participant shall have the right to deduct from all payments made pursuant to the Plan any and all federal, state
and local taxes or other amounts required by law to be withheld. 
 Section 7.    Miscellaneous Provisions 
 (a) Compliance with Legal Requirements.    The Plan and the granting of Incentive Awards, and the other obligations of the
Company under the Plan shall be subject to all applicable federal and state laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required. 
  

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 (b) No Right To Continued Employment.    Nothing in the Plan or in any
Incentive Award shall confer upon any Participant the right to continue in the employ of the Company or any of its Subsidiaries or to be entitled to any remuneration or benefits not set forth in the Plan or to interfere with or limit in any way the
right of the Company or Subsidiary to terminate such Participant’s employment at any time for any reason. 
 (c) Participant
Rights.    No person shall have any claim or right to be granted any Incentive Award under the Plan, and there is no obligation for uniformity of treatment among Participants. 
 (d) Unfunded Status of Incentive Awards.    The Plan is intended to constitute an “unfunded” plan for incentive
compensation. Payments shall be made solely from the general assets of the Company and its Subsidiaries. With respect to any payments for which a Participant may be eligible pursuant to an Incentive Award, nothing contained in the Plan or any
Incentive Award shall give any such Participant any rights that are greater than those of a general unsecured creditor of the Company. 
 (e)
No Transferability of Rights.    A Participant’s rights and interests under the Plan may not be assigned, pledged, transferred or made subject to any lien, either directly or by operation of law or otherwise (except
for a transfer by will or the laws of descent and distribution in the event of a Participant’s death), including, but not by way of limitation, execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner. 
 (f) Governing Law.    The Plan and the rights of all persons claiming hereunder shall be construed and determined in
accordance with the laws of the State of North Carolina without giving effect to the choice of law principles thereof, except to the extent that such law is preempted by federal law. 
 (g) Other Compensation Plans.    Nothing contained in this Plan shall prevent the Company from establishing other or
additional compensation arrangements. 
 Section 8.    Effective Date 
 The Plan originally became effective upon its adoption by the Board on October 11, 2001, subject to the requisite approval of the shareholders of the
Company at the 2002 Annual Meeting of Stockholders which was obtained on May 8, 2002. Following its adoption by the Committee, this amendment and restatement of the Plan shall become effective as of April 19, 2007 upon receipt of the
requisite approval of the shareholders of the Company at the 2007 Annual Meeting of Stockholders. In the absence of such shareholder approval, any outstanding Incentive Awards for which the terms have been established under this amended and restated
Plan and subject to such shareholder approval shall be null and void. 
 Section 9.    Amendment and Termination of the Plan 

 The Board or the Committee may at any time and from time to time alter, amend, suspend, or terminate the Plan in whole or in part;
provided, however, that any amendment that increases the maximum amount that can be paid to a Participant during a Performance Period under the Plan or any other amendment that requires stockholder approval in order for the Plan to continue to
comply with Section 162(m) of the Code shall be subject to approval by the requisite vote of the shareholders of the Company. No amendment shall adversely affect any of the rights of any Participant, without such Participant’s consent,
under any Incentive Award theretofore granted under the Plan. Notwithstanding the foregoing, the Board or the Committee may amend the Plan or any Incentive Award in any respect it deems necessary or advisable to comply with applicable law without
obtaining a Participant’s consent, including, but not limited to, reforming (including on a retroactive basis, if applicable) any terms of an Incentive Award to comply with or meet an exemption from Section 409A of the Code and applicable
regulations and guidance issued thereunder. 
 Section 10.    Reapproval of Plan 
 The Plan must be resubmitted to the shareholders of the Company as necessary to enable the Plan to qualify as performance-based compensation under
Section 162(m) of the Code. As of the time of the Plan’s adoption, Section 162(m) requires that the shareholders reapprove the Plan no later than the first shareholder meeting that occurs in the fifth year following the year in which
the shareholders previously approved the Plan. 
  

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 Section 11.    Intent to Comply With Code Section 409A 
 It is the general intent of the Company that neither this Plan nor any Incentive Awards hereunder be subject to Section 409A of the Code.
Notwithstanding the foregoing, to the extent that any Incentive Awards hereunder may constitute nonqualified deferred compensation within the meaning of Section 409A of the Code, the Company intends that such Incentive Awards shall comply with
Section 409A of the Code, and the Committee shall determine and interpret the terms any such Incentive Awards consistent with such intent. Notwithstanding the foregoing, the Company does not guarantee to any Participant (or any other person
with an interest in an Incentive Award) that the Plan or any Incentive Award hereunder complies with or is exempt from Section 409A, and shall not indemnify or hold harmless any individual with respect to any tax consequences that arise from
any such failure under Section 409A. 
 Section 12.    Intent to Comply With Code Section 162(m) 
 It is the intent of the Company that the Plan and Incentive Awards under the Plan for Covered Employees comply with Section 162(m) of the Code, to
the extent applicable, and all provisions hereof shall be construed in a manner to so comply. To the extent that any legal requirement of Section 162(m) of the Code as set forth in the Plan shall be modified or ceases to be required under
Section 162(m) of the Code, the Committee may determine that such provision shall be correspondingly modified or cease to apply, as the case may be. 
  

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