Document:

Service Agreement dated July 1, 2004

 Exhibit 10.21 
  
 TRX DATA SERVICES, INC. 
 SERVICE AGREEMENT 
  
 This Service
Agreement (this “Agreement”) is made and entered into this 1st day of July 1st, 2004 (the “Effective Date”) by and between TRX Data Services, Inc. a Virginia corporation with offices located at 8405 Greensboro Drive, Suite 140,
McLean, VA 22102 USA (hereinafter “TRX”) and American Express Travel Related Services Company, Inc., with offices located at World Financial Center, 200 Vessey Street, New York, New York 10285 (hereinafter “Client”). 

 
 BACKGROUND 
  
 TRX provides travel-related information gathering and reporting tools to its
customers in a service bureau format. Client wishes to utilize the service bureau services in its business under the terms and conditions set forth herein. For good and valuable consideration, the parties agree as follows: 
  

	1.	Definitions. 

  
 a. Confidential Information. Means nonpublic proprietary information other than Trade Secrets, of value to its owner, and any data or information
defined as a Trade Secret but which is determined by a court of competent jurisdiction not to be trade secret under applicable law. 
  
 b. Custom Modifications. Means changes to the Software, requested by Client and made by TRX that change existing functionality of the Software to
meet specific needs of Client. Client will be charged an additional fee to be negotiated and agreed upon in writing for any Custom Modifications. Ownership of all Custom Modifications and all proprietary rights related thereto shall remain with TRX.

  
 c. Intellectual Property Rights. Means any and all now
known or hereafter known tangible and intangible worldwide patents, copyrights, moral rights, trademarks, Trade Secrets, Confidential Information or other intellectual property rights, whether arising by operation of law, contract, license, or
otherwise, and all registrations, initial applications, renewals, extensions, continuations, divisions or reissues thereof now or hereafter in force (including any rights in the foregoing). 
  
 d. Proprietary Information. Means, collectively and without regard to
form, any third party information that either party has agreed to treat as confidential, information regulated by state or federal law concerning disclosure or use, Confidential Information, and Trade Secrets. 
  
 e. Service Bureau Facility. Means the computer facility located at
TRX’s Virginia office, or other facilities from time to time as designated by TRX, from which TRX will provide Services to Client. 
  
 f. Services. Means access to, use and support of the Software known as “DATATRAX” including Custom Modifications, if any, and any other
services to be provided under this Agreement, if any, to be provided by TRX to Client hereunder. Such services are more particularly described in Exhibit A. 
  

 1 

 i. Software. Means TRX’s DATATRAX software and related documentation utilized by TRX to
provide the Services including all derivative works, updates, and enhancements thereto. 
  
 j. Trade Secrets. Means information which: (a) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can
obtain economic value from its disclosure or use; and (b) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. 
  
 k. Work Order. Means the form attached hereto as Exhibit C used to describe the Service Provider Services to be provided under this
Agreement. 
  

	2.	Grant of Rights. 

  
 a. Client Rights. On the Effective Date, TRX grants to Client, and Client accepts, a nonassignable, nontransferable, and nonexclusive limited right
for Client to access and use the Services solely for Client’s internal use during the Term, subject to the provisions of this Agreement. This right is personal to Client. In the event that the parties wish to expand this grant of rights to
include another affiliated entity or Client’s customers’ use of the Services, such right shall only be granted upon the execution of a written amendment to this Agreement. 
  
 b. Reservation of Rights. TRX reserves the right, in its sole discretion and with prior notice to Client, to modify,
discontinue, add, adapt, or otherwise change any design or specification of the Services and/or TRX's policies, procedures, and requirements specified in or related hereto. 
  
 c. Exclusivity. For the period beginning upon execution of this Agreement and continuing for a period of
    *    , Client shall receive exclusive access to those reports listed in Exhibit B (“Exclusivity Period”). At the end of the Exclusivity Period, TRX shall have the right to market those DATATRAX
reports at its discretion. 
  

	3.	Provision of Services. 

  
 TRX shall provide the Services as detailed as in Exhibit B and Client shall accept the Services provided by TRX upon the terms and conditions provided herein. The
parties may agree on the provision of additional Services, including Custom Modifications upon the execution of a Work Order in the form attached as Exhibit C. The terms and conditions of this Agreement apply to all Work Orders executed
hereunder. 
  

	4.	TRX’s Proprietary Rights; Client Restrictions. 

  
 a. TRX Ownership. TRX owns and shall retain all right, title and interest in and to the Intellectual Property Rights in the Services, and the
Proprietary Information of TRX, including without limitation all Software, Custom Modifications, if any, source and object code, specifications, designs, processes, techniques, concepts, improvements, discoveries and inventions, including without
limitation any modifications, improvements or derivative works thereof and all works of authorship created, invented, reduced to practice, authored, developed, or delivered by TRX or any third party, either solely or jointly with others, arising
from this 

  

 2 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 
Agreement or any amendment to it, including without limitation all copies and portions thereto, whether made by or under the direction of TRX or Client
(“TRX Intellectual Property”). 
  
 b.
Nondisclosure. Client acknowledges that the Services, Custom Modifications, if any, and other information provided by TRX to Client represent Proprietary Information of TRX and the source code that underlies the Services is a Trade Secret
owned by TRX. Each party agrees with the other (i) to hold the Proprietary Information in the strictest confidence, (ii) not to, directly or indirectly, copy, reproduce, distribute, manufacture, duplicate, reveal, report, publish, disclose, cause to
be disclosed, or otherwise transfer the Proprietary Information to any third party, subject to the provisions of subsection (iv) below, (iii) not to make use of the Proprietary Information other than for the permitted purposes under of this
Agreement, and (iv) to disclose the Proprietary Information only to their respective representatives requiring such material for effective performance of this Agreement and who have undertaken an obligation of confidentiality and limitation of use
consistent with this Agreement. Each party hereto shall institute internal operating procedures to assure limited access and use of Proprietary Information consistent with this Agreement, and shall exercise due care to monitor and ensure compliance
with this Agreement. The nondisclosure and confidentiality obligations set forth in this Section 4(b) shall survive termination of this Agreement for any reason and shall remain in effect with respect to Trade Secrets for as long as
the owner of such information is entitled to protection thereof and with respect to Confidential Information for a period of five (5) years after termination hereof. 
  
 c. Acceptable Use. Client shall not, and will not permit others to, engage in activities prohibited by TRX (and will
investigate any alleged violations thereof), including, without limitation: (i) intentionally accessing data not intended for Client’s use, (ii) attempting to breach security or authentication measures without proper authorization or
interfering with the Services, (iii) taking any action in order to obtain Services to which Client is not entitled, or (iv) assisting or permitting any persons in engaging in any of the activities described above. 
  
 d. By virtue of this Agreement, Client acquires only the non-exclusive right
as described above to receive the Services provided by TRX through the use of TRX’s proprietary Software and related documentation, and does not acquire any license thereto or any rights of ownership in such materials, including any Custom
Modifications. Client is specifically prohibited from reselling, licensing, or sublicensing the Software or establishing its own service bureau. 
  
 e. Client agrees not to remove, alter or conceal any product identification, copyright notices, or other notices or proprietary restrictions from the
Client documentation provided to Client by TRX, and to reproduce any and all such notices on any copies of such materials. In the event that Client wishes to display Client’s own trademarks, trade names, and service marks on the Internet in
connection with its use of the Services (“Private Label”), the parties may mutually agree to amend this Agreement in writing and Client will be charged an additional fee. 
  

	5.	Client Support Services. 

  
 a. Services Provided. During the term of this Agreement, TRX will provide the following support services to Client: 
  
 (i) Second Level Support: TRX will provide reasonable
consultation and support via Internet or telephone to Client’s designated representative regarding the 

  

 3 

 
operation of the Services up to     *    . Client may purchase additional support at the hourly rate stated in
Exhibit E. Client’s designated representative shall provide support to Client’s internal users. 
  
 (ii) Error Correction: In the event Client encounters an error, bug or malfunction in the Services, Client’s designated
representative shall describe the problem to TRX in writing and shall indicate Client’s assessment of the severity of same. Severity Levels are described below: 
  

	 	(a)	Level A. Critical Problem. A “Critical Problem” shall mean a problem resulting in the inability of Client to utilize Services or a problem that causes
a critical data integrity defect, such as reporting of substantially incomplete, inaccurate or corrupted data. 

  

	 	(b)	Level B. Major Problem. A “Major Problem” shall mean a problem that materially restricts the utilization of the Services but that does not render the
Services unusable, such as the inability to run a major application, function or feature, or a failure that requires ongoing intervention to maintain productive use. 

  

	 	(c)	Level C. Minor Problem. A “Minor Problem” shall mean a problem that does not materially restrict use of the Services but does cause less significant
features (that are not critical to the operation) to be unavailable. 

  

	 	(d)	Acknowledgement. Client acknowledges that problems may not be within TRX’s ability to control or fix. TRX shall use reasonable best efforts to verify the
cause of the problem, and if the error is due to any act or omission of TRX, TRX’s sole obligation shall be to use its reasonable efforts to correct the reported problem. TRX shall have no obligation regarding any problem that is outside of its
control or otherwise not due to any act or omission of TRX. 

  

	 	(e)	Service Levels. 

  
 (i) TRX shall respond to such problems reported by Client within the following timeframes: 
  
 a.     *     for a
Critical Problem; and 
  
 b.
    *     for Major or Minor Problems. 
  
 (ii) TRX will respond in writing to each report with an estimate of the time necessary to resolve the reported error, efforts made to
escalate problem resolution if needed, and will advise Client in writing when remedies have been implemented. TRX shall exercise all commercially reasonable efforts to correct the problem as promptly as possible. 
  
 (iii) In addition, with respect to a Critical Problem
report, TRX will: (a) assign a data analyst to identify the Critical Problem, (b) provide Client 

  

 4 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 
with reports every     *     on the status of corrections, and (c) exercise reasonable efforts on an urgent first
priority basis to provide Client with a workaround or a fix. TRX shall use its best efforts to resolve all Critical Problems within     *    . TRX shall use reasonable efforts to resolve all Major Problems
within five business days. 
  
 (iv) In the event
of such an error, bug or malfunction which the parties mutually agree has caused a material adverse effect on Client’s use of the Services which error, bug or malfunction cannot be corrected by TRX, the Client may, as its sole remedy,
    *    . In the event of     *    , if a Work Order has been commenced but not completed, TRX shall     *     for such
incomplete Work Order. Client acknowledges that TRX shall have no obligation to correct any error, bug or malfunction in the Services that is not due to any act or omission of TRX. 
  
 b. Training. TRX shall provide     *     for up to
    *     Client personnel upon payment of the implementation fee specified by TRX. Client shall be responsible for its own expenses associated with such training. TRX shall provide up to
    *     of additional implementation training via telephone, email, or internet at no additional charge. 
  
 c. Responsibilities Of Client. Throughout the term of this Agreement, and as a condition of TRX’s obligation to provide services under this
Agreement, Client agrees that it will: 
  
 (i)
Provide all information reasonably requested by TRX to assist in identifying and solving reported errors. 
  
 (ii) Designate one operational Client Representative (the initial Client Representative being named on Exhibit D) who will
be the contact person through which all support and/or problem communications will be made. Client may, from time to time, change the designated operational Client Representative, which change shall be effective only upon TRX’s receipt of
written notice thereof. At no time shall Client have more than one (1) operational Client Representative. Client shall ensure that any appointed operational Client Representative is knowledgeable in the operation and use of the TRX Services, any
operating system(s) and hardware installed at the Client’s site used to access the Services. 
  

	6.	Pricing and Payment. 

  
 a. The fees for the Services provided pursuant to the Agreement are set forth on Exhibit E attached hereto. Client paid the Implementation Fee upon
signing the term sheet. The annual Maintenance Fee is due July 1st of each year of this Agreement. Client will not
be invoiced for a     *    . Beginning the October 1, 2004, Client will prepay the applicable     *     listed in Exhibit E. All
    *     shall be prepaid no later than     *     in immediately available U.S. Dollars without withholding deduction or offset. In the event that the actual
Transaction Fees incurred by Client     *     exceed the     *     

  

 5 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 
    *    , Client will be invoiced     *     concurrent with the following
    *    . Prepayment is not contingent upon Client’s collection efforts from its customers. Client shall pay interest on all amounts not paid when due at the rate of 1.5% per month or the highest lawful
rate, if less. TRX shall have the right to suspend the Services or terminate this Agreement for nonpayment upon ten (10) days written notice. 
  
 b. If, in good faith, Client disputes any invoice amount, Client shall promptly provide TRX with written notice of such dispute (“Dispute
Notice”) including a statement of the amount and the nature of the dispute. Client shall not be relieved of payment of any undisputed amounts in the event that Client provides a Dispute Notice. The parties agree to work in good faith to resolve
the dispute within seven (7) days following receipt of Dispute Notice by TRX. If no mutually agreeable resolution is reached within such period, TRX may, in its sole discretion elect to continue to attempt to resolve the dispute or to submit the
matter to binding arbitration in accordance with Section 10 hereof. 
  
 c. TRX may provide written notice of its intention to increase fees in any term after the initial term. TRX will work in good faith to provide notice of such increase to Client at least 365 days prior to the beginning of a new term. If the
proposed new fees are unacceptable to Client, Client may terminate this Agreement without penalty at the end of the current term on at least one hundred eighty (180) days prior written notice. 
  
 d. Notwithstanding Section 6(c) above, TRX may, once per year during the term
of this Agreement, in its reasonable discretion and upon reasonable notice to Client, increase the fees by the greater of     *     or the percentage increase in the Consumer Price Index for Urban Consumers
(CPI-U), as reported by the U.S. Department of Labor, Bureau of Labor Statistics, for the twelve (12) months preceding the notice by TRX of such increase in fees. In no event shall TRX increase its fees more than once annually (where such annual
period is determined by the Effective Date). 
  
 e. The fees for
the Services do not include any charge for taxes, and Client is solely responsible for paying any and all federal, state and local taxes (including without limitation any and all sales or use taxes or export/import taxes and customs duties)
attributable to the Services rendered by TRX in connection with this Agreement, excluding only taxes based upon the net income of TRX. To the extent Client is obligated to pay any state or local taxes incurred as a result of the rendition of
Services within the State of Virginia, TRX will collect and remit such taxes on behalf of Client only in such cases where TRX is legally obligated to collect and remit such taxes in Virginia. In all other jurisdictions, Client will bear the sole
responsibility to properly self-assess and remit to the proper taxing authorities any federal, state, or local taxes incurred as a result of the Services performed under this Agreement and/or any tax incurred as a result of any tangible personal
property transferred or used by Client incident to such Services. Client will indemnify and pay to TRX any taxes and/or penalties and interest for which TRX is claimed to be liable as a result of the Services performed under this Agreement. Should
TRX be assessed under audit within any jurisdiction for any alleged deficient tax liabilities owed or alleged as a result of the Services performed under this Agreement, and Client has, in fact, paid such taxes, Client will provide appropriate
documentation to the applicable taxing jurisdiction as proof that such taxes have been paid accordingly. Any reference in this Agreement, or any 

  

 6 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 
exhibit hereto, to the term “taxes” shall be construed to mean all United States federal, state and local taxes. 
  
 f. Client will reimburse TRX for any reasonable expenses (e.g.
transportation) incurred as a result of the performance of Services in accordance with this Agreement. Such expenses will be subject to prior written approval by Client in advance. 
  

	7.	Limited Warranty. 

  
 a. TRX represents and warrants that it will provide the Services hereunder in a timely, workmanlike fashion and in accordance with industry standards.

  
 b. EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION 7, THE
SERVICES ARE PROVIDED AS-IS AND TRX MAKES NO EXPRESS OR IMPLIED WARRANTY WITH RESPECT TO THE SERVICES, OR ANY OTHER MATTER, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY, TITLE, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE.
TRX DOES NOT WARRANT THAT ALL ERRORS CAN OR WILL BE CORRECTED OR THAT THE SERVICES WILL OPERATE WITHOUT ERROR. 
  

	8.	Limitations of Liability. 

  
 NEITHER TRX NOR ITS OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS, WILL BE LIABLE TO CLIENT FOR ANY CLAIMS FOR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE
SERVICES PROVIDED BY THIS AGREEMENT OR A BREACH OF THE AGREEMENT, WHETHER SUCH DAMAGES OR CLAIMS ARE BASED ON BREACH OF WARRANTY OR CONTRACT, NEGLIGENCE, STRICT LIABILITY, TORT, PRODUCTS LIABILITY OR OTHERWISE. TRX’S MAXIMUM LIABILITY FOR ANY
DAMAGES OR INJURIES TO CLIENT HEREUNDER SHALL NOT EXCEED THE TOTAL SERVICE FEE PAID BY CLIENT FOR THE SERVICES PROVIDED HEREUNDER FOR ONE (1) YEAR IMMEDIATELY PRECEEDING THE YEAR IN WHICH THE CLAIM AROSE, REDUCED BY ANY AMOUNTS OWED TO TRX BY
CLIENT. THIS LIMITATION SHALL APPLY REGARDLESS OF THE FORM OF ACTION. 
  

	9.	Term and Termination. 

  
 a. The initial term of this Agreement shall be three years from July 1,2004 and shall automatically renew for successive one (1) year terms unless either
party provides notice of termination at least one hundred eighty (180) days prior to the end of the current term. The period beginning December 5, 2003 through June 30, 2004 will be defined as the implementation period. July 1, 2004 through
September 30, 2004 will be a ramp up period. 
  
 b. Either party
may terminate this Agreement and rights granted herein if the other party breaches any of the provisions of this Agreement and fails to remedy such breach within thirty (30) days after receiving written notice thereof. Termination of this Agreement
shall not constitute either party’s exclusive remedy for breach or non-performance by the other party, and each party shall be entitled to seek all other available remedies, both legal and equitable, including injunctive relief. 
  

 7 

 c. Should either party (1) admit in writing its inability to pay its debts generally as they become due;
(2) make a general assignment for the benefit of creditors; (3) institute proceedings to be adjudicated a voluntary bankrupt; (4) consent to the filing of a petition of bankruptcy against it; (5) be adjudicated by a court of competent jurisdiction
as being bankrupt or insolvent; (6) seek reorganization under any bankruptcy act; (7) consent to the filing of a petition seeking such reorganization; or (8) have a decree entered against it by a court of competent jurisdiction appointing a
receiver, liquidator, trustee, or assignee in bankruptcy or in insolvency covering all or substantially all of such party’s property or providing for the liquidation of such party’s property or business affairs; then, in any such event,
the other party, at its option and without prior notice, may terminate this Agreement effective immediately. 
  
 d. Either party may terminate this Agreement for no cause effective upon at least sixty (60) days written notice. In the event that Client elects to
terminate without cause in the first twelve months of the initial term of this Agreement, a termination fee of $40,000 will be due. If Client elects to terminate without cause after completion of the first year of the initial term of the Agreement,
the termination fee payable will equal a prorated portion of $40,000 determined by the number of months remaining from the effective date of termination to October 31, 2005. Client will not be subject to an early termination fee after October 31,
2005. Any termination fee owed to TRX shall be in addition to any other fees that are owed to TRX pursuant to this Agreement prior to the effective date of termination. This termination fee shall be in lieu of any other fees that otherwise would
accrue under this Agreement following the effective date of the termination. 
  
 e. Upon termination of this Agreement for any reason, TRX shall immediately terminate access to the Services. Client shall return all documentation related to the Services. 
  
 f. Where the context or wording of a section indicates, the terms of this
Agreement shall survive its termination, including, without limitation, Sections 4, 6a, 7, 8, 9e, 10, and 11 hereof. 
  

	10.	Dispute Resolution. 

  
 Except for claims seeking injunctive relief for which court relief may be sought, the parties shall arbitrate any dispute resulting from or arising as a result of this
Agreement. Any such arbitration shall be in accordance with the commercial rules of the American Arbitration Association (“AAA”). Any such arbitration shall be held in Atlanta, Georgia USA and directed by the AAA. Notwithstanding the
foregoing or the then-current specified commercial rules of the AAA, the following shall apply with respect to the arbitration proceeding: (a) the arbitration proceedings shall be conducted by one (1) arbitrator selected by the parties, provided, if
the parties fail to make such designation within five (5) days after receipt by the AAA of the demand for arbitration, the AAA shall make the appointment in its sole discretion (provided such arbitrator shall have experience and knowledge of
software and service bureau transactions; and (b) the existence, subject, evidence, proceedings and rulings resulting from the arbitration proceedings shall be deemed Confidential Information, and shall not be disclose by either party, their
representatives, or the arbitrator except: (i) to the professional advisors of each of the parties; (ii) in connection with a public offering of securities of either of the parties; (iii) as ordered by any court of competent jurisdiction; or (iv) as
required to comply with any applicable governmental statute or regulation. 
  

 8 

	11.	General 

  
 a. The language of this Agreement, the reports and documents required by it or arising in connection with it and of negotiations between the parties shall
be in English. 
  
 b. This Agreement, including the Exhibits and
Schedules attached hereto, represents the entire understanding and agreement between the parties with respect to the subject matter hereof, and supersedes any and all previous discussions and communications. Any subsequent amendments and/or
additions hereto are effective only if in writing and signed by both parties. Client may not assign its rights or obligations under this Agreement without the prior written consent of TRX. Subject to the foregoing limitation on assignment, this
Agreement is binding upon and inures to the benefit of the successors and assigns of the respective parties hereto. 
  
 c. This Agreement has been made, executed and delivered in the State of Georgia, United States of America, in which state the offices of TRX are located.
Accordingly, the parties invoke the laws of the State of New York, USA, regarding the protection of their rights and enforcement of their obligations hereunder and they mutually stipulate and agree that this Agreement is in all respects (including
but not limited to, all matters of interpretation, validity, performance and the consequences of breach and termination) to be exclusively construed, governed and enforced in accordance with the internal laws of the State of New York, USA, excluding
all conflict of laws rules as from time to time amended and in effect. The United Nations Convention on the International Sale of Goods shall not apply to this Agreement. Except as provided in Section 10 (Arbitration) and Section
11d (Injunctive Relief), any action related to or arising out of this Agreement shall be venued solely in the Federal District Court for the Southern District of New York and the parties irrevocably commit to the jurisdiction of said
courts. It is acknowledged that all Services performed by TRX on behalf of Client under this Agreement are to be performed within the State of Virginia. 
  
 d. In the event Client is in breach, or threatens to breach any covenants of this Agreement, Client acknowledges and agrees that TRX will be greatly
damaged and that such breach(es) will be irreparable and difficult to quantify; therefore, TRX may apply to any court of competent jurisdiction in the United States (or any other jurisdiction accepting jurisdiction under this specific provision of
the Agreement), who, notwithstanding the provisions of Section 11c (Governing Law), will apply the laws of its own jurisdiction in determining whether relief shall be granted to TRX, for injunctive or other equitable relief to restrain
such breach or threat of breach, without impairing, invalidating, negating or voiding TRX’s rights to relief either at law or in equity. In the event that any or all of the covenants hereunder are determined by the court of competent
jurisdiction to be invalid or unenforceable, by reason that the breadth of restrictions are too great, or for any other reason, these covenants shall be modified and interpreted to extend over the maximum geographic area, period of time, range of
activities or other restrictions to which they may be enforceable. 
  
 e. Headings of paragraphs in this Agreement are inserted for convenience only, and are in no way intended to limit or define the scope and/or interpretation of this Agreement. 
  
 f. The failure of either party at any time to require performance by the other party of any provision hereof is not to
affect in any way the full rights of such party to require such performance at any time thereafter, nor is the waiver by either party of a breach of any provision hereof to be taken or held to be a waiver of the provision itself or any future
breach. 
  

 9 

 g. The parties hereto are independent contractors, and nothing in this Agreement is to be construed to
create a partnership, joint venture, or agency relationship. 
  
 h. If any part, term, or provision of this Agreement is held to be illegal, unenforceable, or in conflict with any law of a federal, state, or local government having jurisdiction over this Agreement, the validity of the remaining portions
or provisions are not to be affected thereby. 
  
 i. Any notice
given pursuant to this Agreement shall be in writing and shall be given by personal service, overnight courier or by first class mail, postage prepaid to the addresses appearing at the beginning of this Agreement, or as changed through written
notice to the other party. Notice given by personal service or overnight courier shall be deemed effective on the date it is delivered to the addressee, and notice mailed shall be deemed effective on the fifth (5th) business day following its
placement in the mail addressed to the addressee. 
  
 j. No party
shall be liable for failure to perform or delay in performing all or any part of its obligations under this Agreement to the extent that such failure or delay is due to any cause or circumstance reasonably beyond the control of such party including,
without limitation, acts of God, fire, flood, storms, earthquake, strike or other labor dispute, acts of terrorism, government requirement, or civil or military authority. The party affected by such an event shall promptly notify the other party in
writing. The party so affected shall take reasonable steps to resume performance with the least possible delay. 
  
 k. TRX may, in its sole discretion, assign its maintenance and support obligations under this Agreement to a TRX authorized agent so as long as such agent
provides maintenance and support services substantially similar to those contracted for under this Agreement. After such assignment Client agrees to look solely to such agent for all on-going maintenance and support of the Services. 
  
 l. The Agreement may be executed in counterparts, each of which will be
deemed an original, but all of which taken together will constitute but one and the same instrument. The Agreement may be executed and delivered by facsimile and the parties agree that such facsimile execution and delivery will have the same force
and effect as delivery of an original document with original signatures, and that each party may use such facsimile signatures as evidence of the execution and delivery of this Agreement by all parties to the same extent that an original signature
could be used. 
  

 10 

 IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties hereto have made and entered into this
Agreement as of the Effective Date. 
  

													
	 TRX Data Services, Inc.
	 	 	 	 American Express Travel Related Services Company, Inc.

							
	 Signed:
	 	 /s/ Lindsey Sykes
	 	 	 	 Signed:
	 	 /s/ VP GM CTO
	 	 	 	 /s/ Director Infrastructure

	 Name:
	 	 Lindsey Sykes
	 	 	 	 Name:
	 	 VP GM CTO
	 	 	 	 Director Infrastructure

	 Title:
	 	 EVP Finance
	 	 	 	 Title:
	 	 VP GM CTO
	 	 	 	 Director Infrastructure

							
	 Date:
	 	 7/8/04
	 	 	 	 Date:
	 	 28.06.2004
	 	 	 	 28.06.2004

  

 11 

 Exhibit A 
 Description of DATATRAX Services 
  
 DATATRAXTM is a corporate travel data
analysis and reporting tool offered to corporate clients as an Internet-based service utilizing an application software provider (ASP) model. 
  
 DATATRAXTM provides the tools needed to analyze the datasets generated by TRX Data Services data consolidation service. DATATRAXTM contains a standard suite of reports and report qualifiers. The qualifiers (e.g. date range, data source, country of
booking, etc.) allow the Client to limit the scope of the reports. Additionally, the standard reports have options that affect certain characteristics (such as sort criteria, number of reported items, and amount of additional detail.) 
  
 DATATRAXTM provides the Client the capability to graph, analyze (OLAP), and further filter the data. 
  
 Client acknowledges and agrees that it has seen a demonstration of DATATRAXTM and that Client is accepting DATATRAXTM AS IS. 
  

 12 

 Exhibit B 
 Service Specifications 
  

	1.	Database Delivery: 

  

	 	a)	TRX will download Amadeus Interface Record (AIR) feed data overnight and deliver it to Client for reporting the following morning. 

  

	 	b)	Client will forward to TRX a     *     of refund data which TRX shall incorporate into the dataset within three business days of receipt.

  

	 	c)	Client will forward to TRX a     *     hierarchy update which TRX shall incorporate into the dataset within three business days of receipt.
Changes to the hierarchy structure may require additional time for incorporation. In such event, TRX will provide notice of the revised timeframe. 

  

	 	d)	All data will be delivered through the DATATRAX reporting tool. 

  

	 	e)	New or significantly modified data feeds require a forty-five (45) day implementation period after receipt of usable data. 

  

	2.	Enhancements: Client will be provided with enhancements to DATATRAX Services as they are made available to all TRX customers. 

  

	3.	Support: TRX will provide support to Client’s designated operational representative in accordance with Section 5 herein. 

  

	4.	Reports: DATATRAX will include the following reports in accordance with Section 2(c). 

  

			
	 	  	 Report Description

	 1)
	  	 Monitoring volume of Etickets vs. Paper tickets on a customer and agency level

		
	 2)
	  	 Monitoring volume of “Pay-as-you - fly” bookings on a customer level

		
	 3)
	  	 Monitoring volume of booked non-GDS hotel segments vs. GDS hotel segments on a customer and agency level

		
	 4)
	  	 Monitoring number of trip update activities for a booking on a customer and agency level

		
	 5)
	  	 Monitoring distribution channel of booking order on a customer and agency level

		
	 6)
	  	 Monitoring usage of Amex-GO POS tool

		
	 7)
	  	 Search of expired bookings in GDS

		
	 8.1
	  	 Monitoring number and volume of booked suppliers by segments, coupons and/or tickets: Air, Car, Hotel

		
	 8.2
	  	 Monitoring number and volume of booked suppliers by segments, coupons and/or tickets, rail and refund notes

  

 13 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

			
	 9)
	  	Flexible emergency reporting based on customer and/or emergency case
		
	 10)
	  	List of all Hotel transactions (GDS and non-GDS) including volume on a customer level
		
	 11)
	  	List of all car transactions including volume on a customer level
		
	 12)
	  	List of all rail transactions on a customer level
		
	 13)
	  	List of all WebFare transactions
		
	Please note:	  	Client is responsible for guaranteeing that all necessary fields to complete these reports are available in the AIR feed. TRX will prepare mock up reports based on the Reporting Requirements
V2.1 dated November 3, 2003 and provide for Client written approval prior to beginning programming.

  

	5.	Project Plan: Within 30 days of the commencement of implementation, TRX and Client will mutually agree on a project plan and timeline. Full Production will begin no later
than July 1, 2004, following at least two weeks of testing. All milestones, deadlines and completion dates, including the April 1, 2004 Full Production deadline, shall be extended by the number of days of any delay caused directly or indirectly by
Client, including but not limited to: a) any changes in agreed requirements after approval by Client or b) any new requirements provided by Client after January 15, 2004. 

  

	6.	Penalties: Should TRX fail to meet the agreed upon deadline, the following penalty fees will be applied daily until Full Production is achieved: 

  

			
	 Reports Not Provided

	  	Penalty Fee

	 One to two reports
	  	    *    
	 Three to five reports
	  	    *    
	 Six to ten reports
	  	    *    
	 Eleven or more reports
	  	    *    

  

	*	TRX will not be liable for penalty fees will in the event that the fields necessary to complete any or all reports are not available in the AIR data feed or in the event of delay
caused by Client. 

  

	7.	Additional Services: Client may request and TRX, in its sole discretion, may provide other services for which additional fees will apply. 

  

 14 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 Exhibit C 
 Form of Work Order 
  

						
	 For:
	  	Invoice 	#	 	 
			
	 Address:
	  	 	 	 	 
			
	 Work:
	  	 	 	 	 
	 Phone:
	  	 	 	 	 
	 Fax:
	  	 	 	 	 
	 Date:
	  	 	 	 	 
			
	 Description of Services

	  	Hours

	 	 	Amount

	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 	  	 	 	 	 
	 Subtotal
	  	 	 	 	 
	 Total Due
	  	 	 	 	 
			
	 Approved:
  
 Client Signature:
                                
        Date:                         
	  	 	 	 	 
			
	 Client Title:
                                       
 
	  	 	 	 	 

  

 15 

 Exhibit D 
 Contact Information 
  
 Designation
of Client Representatives: 
  
 Operational Representative:

  
 Name: Torsten Wolf 
 Title: Manager, Corporate Travel Solution 
 Mailing Address: ________________

 _______________________________ 
 _______________________________ 
  
 Office Phone:
    *     
 Fax: _________________________ 
 E-mail Address:     *     
  
 Legal: 
  
 Name: Sarah Wynn
_______________________ 
 Title: Legal Counsel ________________________ 
 Mailing Address: ________________ 
 200 Vessey Street New York, NY 10005 
 Office Phone:     *     
 Fax: _________________________ 
 E-mail Address:     *     
 Accounting: Please designate the appropriate contact and address for invoicing. 
  
 Name: _Torsten Wolf ____________ 
 Title: __Manager, Corporate Travel Solution 
 Mailing Address: ________________ 
 Office Phone: –
    *     
 Fax: _________________________ 
 E-mail Address: _________________ 
  

 16 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 Exhibit E 
  
 Service Fees 
  
 Please note: All fees are stated in US dollars. 
  

			
	1. One-time Implementation Fee	  	    *    

  
 Includes integration of the AIR feed
into DATATRAX and programming of all reports outlined in Exhibit A. The initial programming of the branch hierarchy is included as well. Client paid this Implementation Fee upon execution of the term sheet. 
  
 4.     *    : Client will prepay
    *     Minimum Fees in accordance with Section 6 herein.     *     vary as shown in the table below: 
  

			
	 Following Contract Execution

	  	    *    

	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 *
	  	    *    
	 Remaining Term
	  	    *    

  
 5. Transaction
Fees: A transaction is defined as a unique PNR, or refund PNR processed via DATATRAX. In the event that the actual number of transactions processed in a calendar month exceed the     *    
prepaid by Client for that     *    , the overage will be billed in arrears in accordance with Section 6 herein. Transaction fees vary based on actual     *    
transaction volume as shown below: 
  

				
	     *    Transactions

	  	Transaction Fee

	     *    
	  	$	    *    
	     *    
	  	$	    *    
	     *    
	  	$	    *    

  

 17 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 6. Annual Maintenance Fees 
  

			
	 AnnualMaintenance Fee for up to 15 Internal Client Users
	  	    *    

  
 TRX will provide an annual one day
training session to include up to 15 individuals, on DATATRAX, any additional training will be provided at     *     a day and all training will be conducted via Web-Ex. Fees for additional internal Client
users will be mutually agreed upon in writing. 
  
 Annual Maintenance Fees are due
on or before April 1st of each year for the term of this Agreement. 
  
 7. Fees for Additional Services: 
  

			
	 Additional Support Hours
	  	    *     per hour, two hour minimum
	 Ad Hoc Reporting
	  	    *     per hour and execution of Work Order
	 Data Analysis Support
	  	    *     per hour, one hour minimum
	 Filter Modifications
	  	    *     per hour and execution of Work Order
	 Custom Report Development
	  	    *     per hour and execution of Work Order
	 Custom Report Modifications
	  	    *     per hour and execution of Work Order
	 Changes to Branch Hierarchy
	  	    *     per hour and execution of Work Order
	 Other Services
	  	Contact TRX for a quote

  

 18 
  
 * CONFIDENTIAL TREATMENT REQUESTEDAmended and Restated Shared Services Agreement dated January 1, 2004

 Exhibit 10.40 
  
 Execution Copy 
  
 e-TRX LIMITED 
  
 AND 
  
 HOGG
ROBINSON PLC 
  

  
 AMENDED AND RESTATED 
 SHARED SERVICES AGREEMENT

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

			
	 1.
	  	 Definitions
	  	2
			
	 2.
	  	 The Services
	  	4
			
	 3.
	  	 Additional services
	  	4
			
	 4.
	  	 Prior Approval by ETRX of ETRX-related commitments
	  	4
			
	 5.
	  	 Personnel
	  	5
			
	 6.
	  	 ETRX Responsibilities
	  	5
			
	 7.
	  	 Payments
	  	6
			
	 8.
	  	 Term and Termination
	  	7
			
	 9.
	  	 Consequences of Termination
	  	9
			
	 10.
	  	 Governing Law and Dispute Resolution
	  	13
			
	 11.
	  	 Confidentiality
	  	13
			
	 12.
	  	 Proprietary Materials
	  	14
			
	 13.
	  	 Representations and Warranties
	  	15
			
	 14.
	  	 Liability
	  	17
			
	 15.
	  	 Force Majeure
	  	19
			
	 16.
	  	 Remedies
	  	20
			
	 17.
	  	 Miscellaneous
	  	20

  

					
			
	 Schedule 1
	  	 	  	 
			
	 Schedule 2
	  	 	  	 
			
	 Schedule 3
	  	 	  	 
			
	 Schedule 4
	  	 	  	 
			
	 Schedule 5
	  	 	  	 

  

 -i- 

 THIS SHARED SERVICES AGREEMENT, including all addenda hereto (collectively, the “Agreement”) is
made effective as of January 1, 2004 (the “Effective Date”). 
  
 BETWEEN 
  

	(1)	e-TRX LIMITED, a company incorporated in England and Wales under number 3841799, having its registered office at Sutherland House, Russell Way, Crawley, West Sussex, RH10 1UH
(“ETRX”); and 

  

	(2)	HOGG ROBINSON plc, a company incorporated in England and Wales under number 756582 whose registered office is at Abbey House, 282 Farnborough Road, Farnborough, Hampshire,
GU14 7NJ (“HR”) 

  
 WHEREAS, this Agreement
amends, restates and continues (and has not terminated) that certain Shared Services Agreement entered into by and between ETRX (f/k/a Fortdove Limited) and HR dated 18th
February 2000. 
  
 NOW, THEREFORE, in consideration of the premises and of the promises and agreements hereinafter set forth, the parties hereto, intending to be legally bound, do hereby agree as follows: 
  

	1.	DEFINITIONS 

  
 In this Agreement: 
  

	 	1.1	Additional Services means those services falling outside the Scope of the Services, which HR may agree to perform upon terms and conditions agreed between the parties;

  

	 	1.2	Effective Date means the date set forth in the first paragraph hereof; 

  

	 	1.3	Dispute Resolution Procedure means the procedure set out in Clause 10; 

  

	 	1.4	Form of Change Order means the form set out in Schedule 3 to this Agreement; 

  

	 	1.5	Group means, in relation to a company that company, its holding company and each subsidiary of the company, its holding company and subsidiaries for the time being;

  

	 	1.6	HR Personnel means the HR Group personnel who are engaged in the provision of the Services; 

  

	 	1.7	Monthly Charges means the Schedule 1 Charges and the Schedule 2 Charges; 

  

	 	1.8	Services – means the Schedule 1 Services and the Schedule 2 Services; 

  

	 	1.9	Schedule 1 Charges means the charges in respect of Schedule 1 Services as set out in Schedule 1 and/or Schedule 4 as the same may vary during the Term in accordance with the
provisions of this Agreement; 

  

 2 

	 	1.10 	Schedule 2 Charges means the charges in respect of Schedule 2 Services as set out in Schedule 4 as the same may vary during the Term in accordance with the provisions of this
Agreement; 

  

	 	1.11 	Schedule 1 Services means those services as set out within Schedule 1 (as amended from time to time by written agreement between the parties), which expression shall include
such Additional Services which HR agrees in writing to perform from time to time (without prejudice to any separate terms agreed for the Additional Services); 

  

	 	1.12 	Schedule 2 Services means those services as set out within Schedule 2, (as amended from time to time by written agreement between the parties) which expression shall include
such Additional Services which HR agrees in writing to perform from time to time (without prejudice to any separate terms agreed for the Additional Services); 

  

	 	1.13 	Scope means the scope of the Services as at the Effective Date (including as regards type and volume) as the same may be decreased during the Term pursuant to Clause 8.9, or
increased by mutual written agreement of the parties pursuant to Clause 3; 

  

	 	1.14 	Shareholders Agreement means the Shareholders Agreement entered into between Hogg Robinson Holdings BV (a subsidiary of HR), BCD Technology S.A. and TRX, Inc. (the parent of
ETRX) dated November 5, 1999, as amended; 

  

	 	1.15 	Term - means the term of this Agreement, as set out in Clause 8; 

  

	 	1.16 	ETRX Supervisors means the ETRX personnel who are responsible for the supervision of the performance of the Services; 

  

	 	1.17 	Value Added Tax means value added tax as provided for in the Value Added Tax Act 1994 and any other tax of a similar fiscal nature whether imposed in the United Kingdom
(instead of or in addition to value added tax) or elsewhere. 

  

	 	1.18 	In this Agreement, a reference to: 

  

	 	1.18.1 	a “subsidiary” or “holding company” is to be construed in accordance with section 736 of the Companies Act 1985 and a “subsidiary undertaking” or
“parent undertaking” is to be construed in accordance with section 258 of the Companies Act 1985; 

  

	 	1.18.2 	a statutory provision includes a reference to the statutory provision as modified or re-enacted or both from time to time whether before or after the date of this Agreement and any
subordinate legislation made or other thing done under the statutory provisions whether before or after the date of this Agreement; 

  

	 	1.18.3 	a document is a reference to that document as modified from time to time; 

  

	 	1.18.4 	a person includes a reference to a government, state, state agency, corporation, body corporate, association or partnership; 

  

	 	1.18.5 	a person includes a reference to that person’s legal personal representatives, successors and permitted assigns; 

  

 3 

	 	1.18.6 	the singular includes the plural and vice versa unless the context otherwise requires; 

  

	 	1.18.7 	a clause or schedule, unless the context otherwise requires, is a reference to a clause or a schedule to this Agreement; and 

  

	 	1.18.8 	“includes”, “including” and similar terms, means “includes but is not limited to”. 

  

	 	1.3	The headings in this Agreement do not affect its interpretation. 

  

	2.	THE SERVICES 

  

	 	2.1	HR shall provide the Services to ETRX as set out in Schedule 1 and Schedule 2 on the terms set out herein. 

  

	 	2.2	Except as expressly provided for to the contrary in Schedule 1, Schedule 2 or any Form of Change Order, the Services will be provided in, and in respect of, the UK only.

  

	 	2.3	HR shall provide ETRX the use of a sub-number to the IATA number of its wholly- owned subsidiary, Hogg Robinson (Travel) Limited (the “Subnumber”), in accordance with the
terms set forth in Section 14 of the Purchase and Termination Agreement by and between HR, ETRX and other parties of even date herewith (the “PTA”). 

  

	3.	ADDITIONAL SERVICES 

  

	 	3.1	ETRX may request HR to perform Additional Services. HR will have the option (but not the obligation) to provide such Additional Services upon such terms and conditions (including
compensation terms) as may be mutually agreed between the parties. HR agrees that it will not unreasonably refuse to provide Additional Services. 

  

Such terms shall be documented in the Form of Change Order attached hereto as Schedule 3 or by another form of mutually agreed written instrument
should the parties so require. No charges or other compensation in respect of any Additional Services are included in the Monthly Charges. In no event shall HR be obliged to perform any Additional Services: (a) that would cause it to be in conflict
with any law, rule or regulation, or any internal HR policy; or (b) in respect of which the said terms and conditions have not been mutually agreed and a Form of Change Order or other agreed written instrument executed. 
  

	 	3.2	Any dispute relating to Additional Services shall be handled in accordance with the Dispute Resolution Procedure. 

  

	 	3.3	ETRX shall not resell the Services or Additional Services provided hereunder to any third party without the prior written consent of HR. 

  

	4.	PRIOR APPROVAL BY ETRX OF ETRX-RELATED COMMITMENTS 

  

	 	4.1	 If in the performance of its obligations hereunder, it is necessary for HR to incur Excess Costs (defined below) to be recharged to ETRX hereunder, ETRX shall repay
such Excess Costs to HR provided that in the event such Excess Costs either individually or in the aggregate exceed £40,000, then HR shall notify ETRX in writing of the necessity of 

  

 4 

	 	 
such expenditure and shall secure ETRX’s written approval prior to incurring such Excess Costs. HR shall not be liable for any failure to provide the
relevant Services or Additional Services as a result of ETRX’s failure to authorise or delay in authorising such Excess Costs. For the avoidance of doubt, HR shall not be in default under this clause where HR, in good faith, did not anticipate
that the Excess Costs would exceed £40,000, but such Excess Costs did exceed that amount as a direct result of any requirements, acts or omissions of ETRX; provided, that in such event HR promptly notify ETRX of such expenditure(s) and obtain
ETRX’s consent for any future Excess Costs. 

  
 Excess Cost means costs incurred or to be incurred by HR that are over and above those costs related to HR’s standard practices and procedures relating to its provision of the Services and/or Additional Services (which standard costs
are included in the Schedule 1 Charges and/or Schedule 2 Charges as applicable). For the avoidance of doubt, Excess Costs shall include any and all amounts contained in any contractual commitments or obligations including employment agreements or
severance arrangements. 
  

	5.	PERSONNEL 

  

	 	5.1	HR Group Personnel. ETRX and HR are not joint employers for any purpose under this Agreement. HR will determine how to staff the Services under this Agreement. HR reserves
the right from time to rime to assign personnel to perform the Services and to replace or reassign such employees. HR Personnel may rotate between this engagement and other engagements of HR. 

  

	 	5.2	Employment of Personnel. Subject to Clause 9.8 and anything expressly provided for to the contrary in the PTA, during the Term and for six months following its termination,
neither party shall employ, solicit or make any offers to employ the other party’s or any Group member’s employees or partners used in or connected with the performance of the Services, without the prior written consent of the other party,
which consent shall not be unreasonably withheld or delayed. The non-breaching party shall be entitled, in addition to any other remedies it may have at law or in equity, to a payment from the breaching party in an amount equal to three months’
salary of any partner or employee which the breaching party employs, solicits or offers to employ in violation of this Clause. 

  

	6.	ETRX RESPONSIBILITIES 

  

	 	6.1	HR’s performance of the Services is dependent upon ETRX’s timely and effective performance of ETRX’s responsibilities under this Agreement and ETRX’s timely
decisions, approvals and payments of undisputed fees in accordance with this Agreement. The responsibilities and obligations of ETRX under and pursuant to this Agreement include, but are not limited to, the following: 

  

	 	6.1.1 	providing HR with complete and accurate information required by HR to perform the Services in a timely manner and ensuring that all such information provided by ETRX to HR contains
no material omissions, and is updated on a prompt and continuous basis; 

  

	 	6.1.2 	making available, promptly upon request by HR, management decisions, approvals, acceptances and such other information and assistance desired or required by HR to perform its
obligations under this Agreement; 

  

 5 

	 	6.1.3	 being responsible for the provision and accuracy of ETRX’s financial statements; 

  

	 	6.1.4	 establishing and maintaining ETRX’s policies (including finance, accounting and management information system policies) and an effective overall system of internal
controls; 

  

	 	6.1.5	 making ETRX’s and its Group’s relevant employees available to and causing them to communicate with HR and HR Personnel both during and outside business hours as HR
may reasonably request; and 

  

	 	6.1.6	 providing HR with access to the ETRX Supervisors at such times as HR may reasonably request. HR shall report to the ETRX Supervisor(s) with respect to the performance of its
obligations under this Agreement. 

  

	 	6.1.7	 providing HR, at least two months in advance of the start of the month to which they relate, forecasts of transaction and other volumes relevant to the Services; and

  

	 	6.1.8	 providing HR with as much prior notice as possible of intended and proposed requests for Additional Services. 

  

	7.	PAYMENTS 

  

	 	7.1	    *    . On or around     *     (but no later than the fifth (5th) business day)) during the Term, HR shall submit to ETRX an invoice in respect of the     *     (including
charges agreed in respect of Additional Services) applicable to such     *     in consideration of the performance of the Services.     *     related to any
    *     shall be prorated. ETRX will settle such invoices on or before     *     to which they relate. 

  
 The Schedule 1 Charge will be based on
    *     management fee. The actual cost basis for each component of the Schedule 1 Services is shown in Schedule 4. The Schedule 1 Charge will be calculated on a standard basis , based on
    *    . 
  
 For the
avoidance of doubt, all sums due hereunder and those due in respect of Schedule 2 Services, in each case, up to the Effective Date shall continue to be due and payable and shall not be affected by the parties’ amending and restating of this
Agreement. 
  

	 	7.2	Out-of-Pocket Expenses. ETRX shall reimburse HR for, reasonable actual documented out-of-pocket expenses (e.g., travel, lodging, supplies, etc.) incurred by HR in connection
with the Services. At the beginning of each month, HR shall send ETRX a monthly invoice for the aggregate amount of the HR expenses during the preceding month, which invoice will describe and document such expenses in reasonable detail. Payment
shall be due by ETRX within ten (10) days following the date of HR’s invoice. 

  

	 	7.3	     *    . The invoice raised by HR on or around     *     will include adjustments
to reflect actual (as opposed to forecast) costs for     *    . For example,     *    . If actual costs are greater than those that were used to calculate the 

  

 6 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

	 	 
Schedule 1 Charge for     *    , HR shall bill ETRX for the difference in the next invoice to be issued after the
discrepancy has become known. If the actual costs are less, HR shall, at ETRX’s option (to be exercised in writing), either provide ETRX with a credit for the difference or pay the difference in cash within 10 days following receipt by HR of
ETRX’s notification that it has opted for a cash repayment. 

  

	 	7.4	Late Payment Charges. HR shall be entitled to make a late payment charge, computed on a daily basis at 2% above Barclays Bank plc base rate in force from time to time on any
amounts not paid when due. 

  

	 	7.5	Taxes. In addition to the other charges payable under this Agreement, ETRX shall be solely responsible for the payment of any Value Added Tax based upon the facilities,
assets and Services, and/or products provided by HR. Both parties shall take all reasonable steps to minimize taxes, which might be assessed on either party based on the parties’ performance hereunder. 

  

	 	7.6	Set-off. In the event that any payments hereunder become due and payable by one party (the “Owing Party”) at a time when there is a bona fide claim (i.e. a disputed
or overdue payment as opposed to a sum owing in the normal course) against the other party (the “Owed Party”) by the Owing Party, the Owing Party shall be entitled to pay any such sum into a joint interest-bearing deposit account in the
joint names of Owing Party’s solicitors and the Owed Party’s solicitors (the “Escrow Account”) pending resolution of such claim in accordance with the Dispute Resolution Procedure. Upon resolution of such claim the Owed Party
shall be entitled to payment from the Escrow Account of an amount which does not exceed the amount due to it from the Owing Party in relation to the resolved claim, with the balance standing to the credit of the Escrow Account being payable to the
Owing Party. Interest accrued in the Escrow Account shall be apportioned pro rata between the payments made out of the Escrow Account as referred to above. 

  

	8.	TERM AND TERMINATION 

  

	 	8.1.1	 This Agreement shall continue for twelve (12) months (the “Initial Term”) unless and to the extent terminated or extended beyond the Initial Term pursuant to this
Clause 8, or terminated pursuant to Clause 15.2. This Agreement may be extended for additional one (1) year terms if the parties agree in writing to such extension not less than six (6) months prior to expiration of the then current term, but
neither party shall have any obligation to agree any such extension(s). 

  

	 	8.1.2	 Notwithstanding the foregoing, the parties acknowledge that certain parts of the Services may continue beyond the end of the Initial Term (e.g. if the Subnumber continues to
be used by ETRX beyond that date, and as regards services provided in relation to the properties let by ETRX pursuant to the PTA). In such circumstances, in the absence of any mutually agreed extension of this Agreement as provided for above, this
Agreement shall continue in full force and effect as regards the continuing Services only. 

  

	 	8.2	Termination for Cause. If ETRX breaches any payment obligation under this Agreement, and such breach is not cured within 15 days of its receipt of written notice of such
breach, HR may immediately (i) suspend performance of the Services, (ii) change the payment conditions under this Agreement so that ETRX must pay HR weekly and in advance, or (iii) terminate this Agreement upon 30 days written notice.

  

 7 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

	 	8.3	A party (the “Initiating Party”) may terminate this Agreement with immediate effect by written notice to the other party (the “Breaching Party”) on
or at any time after the occurrence of an event specified in Clause 8.4 in relation to the Breaching Party. 

  

	 	8.4	The events are: 

  

	 	8.4.1	the Breaching Party being in material breach of a material obligation under this Agreement and, if the breach is capable of remedy, failing to remedy the breach within 30 days
starting on the day after receipt of written notice from the Initiating Party giving details of the breach and requiring the Breaching Party to remedy the breach; 

  

	 	8.4.2	the Breaching Party passing a resolution for its winding up or a court of competent jurisdiction making an order for the Breaching Party’s winding up or dissolution;

  

	 	8.4.3	the making of an administration order in relation to the Breaching Party or the appointment of a receiver over, or an encumbrancer taking possession of or selling, an asset of the
Breaching Party; 

  

	 	8.4.4	the Breaching Party making an arrangement or composition with its creditors generally or making an application to a court of competent jurisdiction for protection from its creditors
generally (including, without limitation, proceedings under Chapter 11 of the U.S. Bankruptcy Code); 

  

	 	8.5	Subject to Clause 8.1.2, HR may terminate this Agreement immediately upon notice to ETRX within 60 days: (a) following a change of control of ETRX (whether such control is exercised
as sole or joint control, with a third party); or (b) if BCD Technology, S.A. or another company owned or under the control of BCD Technology, S.A. cease to hold the majority of the voting rights in TRX, Inc (“TRX”) and/or WTT UK Limited.
In this clause, “control” means the ability to direct the affairs of another whether by way of contract, ownership of shares or otherwise. 

  

	 	8.6	If there is any material change, as reasonably determined by either party; (1) in any laws, ordinances, orders, rules or regulations governing the way the parties may operate; (2)
in travel industry conditions, including but not limited to, airfares (e.g., net fares or net/net fare arrangements) or compensation to HR, by action of any industry vendor, governing body or client; or (3) in technology including but not limited to
computer reservation systems or the internet; which material change has the effect of materially increasing or decreasing the cost of doing business, or, in the case (1), rendering the performance of any part of the Services illegal or otherwise
unlawful; then, either party shall have the right to provide written notice to the other party of such change and both parties agree to renegotiate in good faith the relevant financial and/or service terms of this Agreement. If the parties are
unsuccessful in renegotiating mutually satisfactory terms, either party shall, subject to Clause 8.1.2, have the right to terminate this Agreement at any time thereafter with one hundred and eighty (180) days’ advance written notice.

  

	 	8.7	Subject to Clause 8 1.2, this Agreement will terminate automatically upon whichever is the earlier of the termination or expiry of the Shareholders Agreement or upon HR ceasing to
be a shareholder in TRX. 

  

 8 

	 	8.8	Termination for Convenience. At any time during the Term, either party may terminate this Agreement for its own convenience upon not less than one hundred and eighty (180)
days’ written notice to expire no earlier than the first anniversary of the Effective Date, except as expressly set forth in this Clause, neither party shall have any right to terminate this Agreement as a whole for convenience.

  

	 	8.9	Partial Termination. Either party may terminate this Agreement as to one or more of the covered Services upon not less than 180 days’ written notice to expire no earlier
than the first anniversary of the Effective Date, without terminating as to the remainder of the Services. In the event of such partial termination, the relevant element of the Monthly Charges shall be adjusted to reflect the cessation of the
terminated Services and Clause 10 shall be applied in respect of the terminated Services. 

  

	9.	CONSEQUENCES OF TERMINATION 

  

	 	9.1	Any termination of this Agreement shall be without prejudice to each party’s accrued rights and obligations hereunder and shall not affect any other remedies of the parties,
whether at law or in equity. 

  

	 	9.2	Subject to the provisions of Clause 14.1.1 and the terms of this Clause 9.2, upon expiry or other termination of this Agreement (other than for reasons of HR’s breach), ETRX
shall pay HR in respect of (a) Excess Costs; (b) costs and expense incurred in relation to the termination or otherwise of any of the Leicester property leases relating to premises used by ETRX which at the date of such expiry/termination remain in
the name of any HR Group member(s) and which have not been formally sub-leased pursuant to the Heads of Terms (defined in the PTA) during the period from the Effective Date until the execution of the formal agreements, leases and sub-leases as
contemplated in the Heads of Terms; and (c) costs estimated in good faith as set forth on Schedule 5 (collectively, (a), (b) and (c) shall be defined as “Costs”). HR acknowledges and agrees that ETRX is only required to pay HR for Costs to
the extent that either individually or in the aggregate exceed £5,000. Clauses 14.1.2 and 14.1.3 shall not apply to this Clause 9.2. For the avoidance of doubt, the £5000 figure is not a “per claim” deductible nor is it a bar
to claims which are less than £5000 in value. For example, if HR’s first valid Costs claim is either for £5500, or a number of smaller sums which in the aggregate amount to £5500, then in either case, HR would be entitled to
£5500 and would then be entitled to receive payment in full for all other Costs claimed. 

  

	 	9.3	HR Obligations Upon Termination. In the event of termination of this Agreement by ETRX for HR’s breach, HR will work together with ETRX to identify the information,
materials and resources ETRX is entitled to receive and to develop an overall plan for transitioning such items to ETRX or its designee in accordance with the following provisions (collectively, “Termination Assistance”).

  

	 	9.4	HR will provide the Termination Assistance described below for a period of up to six months (to expire no later than the first anniversary of the Effective Date, or any subsequent
yearly anniversary of the effective date should this Agreement have been extended pursuant to Clause 8.1.1) per ETRX’s written request on the terms set out in this Clause 9. HR’s obligation to provide Termination Assistance shall be
conditional upon ETRX paying to HR all outstanding invoices prior to the commencement of any Termination Assistance and upon ETRX continuing to pay when due any and all fees due hereunder (including Monthly Charges) during the Termination Assistance
period. 

  

 9 

	 	9.5	Unless otherwise agreed or unless otherwise provided for herein to the contrary, ETRX shall pay HR standard hourly rates and reasonable expenses for any Termination Assistance
provided by HR and/or any other assistance not a part of the Services or Additional Services provided by HR at the request of ETRX. This fee is in addition to any other payments required under this Agreement. Notwithstanding the termination or
expiration of this Agreement, the terms and conditions of this Agreement will apply to all Termination Assistance services provided by HR during such period. 

  

	 	9.6	If ETRX requests Termination Assistance beyond the available capacity of the HR on- site staff, such request will be treated as a request for Additional Services and ETRX will pay
the agreed charge for such Additional Services. 

  

	 	9.7	HR and ETRX will jointly develop a plan (the “Transition Plan”) to effect the orderly transition and migration to ETRX from HR of all services then being performed
or managed by HR under this Agreement which are being terminated (the “Termination Transition”). The Transition Plan will indicate the schedule on which HR will turn over responsibility for each service to ETRX which shall,
in any event, be no later than the first anniversary of the Effective Date, or any subsequent yearly anniversary of the Effective Date should this Agreement have been extended pursuant to Clause 8.1.1, or such earlier date as may be stipulated in
the Schedules hereto. The Transition Plan will set forth the tasks to be performed by HR and ETRX, the time for completing such tasks and the criteria for declaring the Termination Transition “completed”. The parties and their employees
and agents will cooperate in good faith to execute the plan and each party agrees to perform those tasks assigned to it in the Transition Plan. HR will direct the execution of the Transition Plan. The Transition Plan will include the following tasks
and such other tasks as may be agreed upon by HR and ETRX: 

  

	 	9.7.1	 Providing ETRX or its designee access to necessary data files and programs, certain non-proprietary operational procedures and data and documentation (other than HR’s own
proprietary materials and information) in HR’s possession related to the Services; 

  

	 	9.7.2	 Returning all ETRX confidential and proprietary information of ETRX in HR’s possession, except for one copy which HR may retain, subject to its confidentiality
obligations, for internal recordkeeping purposes and for compliance with applicable professional standards; 

  

	 	9.7.3	 Returning to ETRX all software which ETRX owns or otherwise has rights to (other than Licensed Programs as defined in Clause 9.11) (together with its related data and
documentation) and hardware which ETRX or a TRX Group member(s) owns, leases or otherwise has written contractual rights to have such hardware returned to it. HR will deliver to ETRX all ETRX data in a format application for use by ETRX and will
seek to minimize the amount of manual data entry or re-keying necessary in connection with the transfer of such data to ETRX. For the avoidance of doubt, this Clause shall not in any way: (a) oblige HR to return ETRX-owned or licensed software used
by any member(s) of the HR Group under the terms of any agreements other than this Agreement; or (b) give ETRX any rights in or to the software referred to in Clause 17.8, other than as may be provided for in Clause 9.11. 

 

 10 

	 	9.8	Upon total or partial termination or expiry of this Agreement, the following shall apply in relation to those HR Group employees of HR engaged in the performance of the relevant
Services: 

  

	 	9.8.1	it is acknowledged by HR and ETRX that those employees of HR who are assigned to the performance of the Services may, on the termination or expiry of this Agreement, transfer to the
employment of ETRX under the provisions of the Transfer of Undertakings (Protection of Employment) Regulations 1981 (“TUPE”); 

  

	 	9.8.2	to the extent that any employee of HR assigned to spend 50% or more of his/her time in the performance of the Services at the time of termination of this Agreement does not transfer
from HR to ETRX pursuant to TUPE, HR will provide to ETRX an opportunity to offer employment to such person. Such an offer must provide for employment with ETRX to be effective as soon as possible and in any event at the earlier of (A) the end of
the Termination Transition period, or (B) the date on which HR is no longer responsible under the Transition Plan or this Agreement (if there is no applicable Transition Plan) for any of the tasks performed by the HR employee to whom ETRX is making
the offer of employment. With respect to other HR personnel engaged in the performance of the Services at the date of expiration or termination, ETRX may offer employment to such HR employees only if ETRX has obtained the prior written consent of
HR; 

  

	 	9.8.3	to the extent that any employee of HR becomes an employee of ETRX pursuant to clauses 9.8.1 or 9.8.2 above, then ETRX will indemnify HR for the cost of all salaries, wages and
benefits paid to such an employee, the cost of providing benefits in kind and associated costs (including employer’s national insurance contributions) in respect of any period of employment with HR following the earlier of (A) the end of the
Termination Transition period, or (B) the date on which HR is no longer responsible under the Transition Plan or this Agreement (if there is no applicable Transition Plan) for any of the tasks performed by the relevant HR employee;

  

	 	9.8.4	to the extent that, as a consequence of the termination or expiry of this Agreement or the relevant part thereof, the employment of any employee of HR who is assigned to spend 50%
or more of his/her time in the performance of the Services at the time of such termination or expiry of this Agreement is terminated by HR by reason of redundancy (as defined in section 139 Employment Rights Act 1996) within 3 months of the date of
such termination or expiry of this Agreement, ETRX will indemnify HR for all costs incurred by HR in connection with such redundancy, including, without limitation, the cost of any redundancy payment due under statute, by contract or custom and
practice, any claim for unfair dismissal or payment in lieu of notice. 

  

	 	9.8.5	 Subject to Clause 9.8.4, HR shall indemnify ETRX from and against any costs, claims, charges, expenses, demands, liabilities or penalties which are attributable to
any act or omission by HR prior to the earlier of (A) the end of the Termination Transition period, or (B) the date on which HR is no longer responsible under the Transition Plan or this Agreement (if there is no applicable Transition Plan) for any
of the tasks performed by the relevant HR employee in 

  

 11 

	 	 
respect of any of HR’s obligations or duties to or in relation to any of the employees or former employees (including but not limited to any liability
arising out of the termination or dismissal of any employee or former employee) and which ETRX may incur or suffer as a result of ETRX succeeding to HR pursuant to TUPE or otherwise howsoever in relation to the contracts of employment of the
employees or former employees of any of them. 

  

	 	9.9	HR will provide ETRX with reasonably detailed specifications for any hardware which ETRX will require to perform the services previously performed by HR under this Agreement. In
addition, HR will offer to assign hardware leases (if permitted by the lessor) or to sell hardware which in each case at the time of the expiration or termination was dedicated solely to use in the provision of the Services. HR will (at ETRX’s
expense ) provide reasonable assistance to ETRX in connection with the de-installation, shipping delivery and re-installation of any hardware sold by HR to ETRX. 

  

	 	9.10	HR will use reasonable endeavours to assist ETRX, or its designee, at ETRX’s expense, in acquiring licences to use any third party software which ETRX will require to perform
the services previously performed by HR under this Agreement. 

  

	 	9.11	Subject to entering into a licence agreement in form and substance reasonably satisfactory to HR and ETRX, HR will grant to ETRX a perpetual (subject to any termination provisions
therein), non-transferable, non-exclusive licence to use any HR- owned software which is application software (but not operating software or utilities) being used by HR to provide the Services immediately prior to the termination or expiration of
this Agreement (the “Licensed Programs”), on the following principal terms: 

  

	 	9.11.1	Except to the limited extent required by natural disaster or similar emergency, the Licensed Programs will not be operated, directly or indirectly, by persons other than bona fide
employees of ETRX, or on equipment that is not leased or owned by ETRX and is under ETRX’s control. Without limiting the foregoing, the Licensed Programs will not be utilised or operated by third-party processors; 

  

	 	9.11.2	Only data of ETRX will be processed utilising the Licensed Programs; 

  

	 	9.11.3	ETRX will not allow the Licensed Programs, or any of the various components or modifications thereof, to be disclosed to third parties, sold, assigned, leased or commercially
exploited or marketed in any way, with or without charge. Except to the extent required for normal operation of the Licensed Programs, ETRX will not permit the Licensed Programs to be copied or reproduced, in whole or in part;

  

	 	9.11.4	The Licensed Programs are the valuable property of HR and any violation in any material respect of any provision of the agreement for the Licensed Programs would cause HR
irreparable injury for which it would have no adequate remedy at law, and HR will be entitled to preliminary and other injunctive relief against any such violation. Such injunctive relief will be in addition to, and in no way in limitation of, any
and all other remedies or rights that HR will have at law or in equity; and 

  

	 	9.11.5	 The licence will terminate automatically upon whichever is the earlier of the termination of the Shareholders Agreement or HR ceasing to hold any shares in 

  

 12 

	 	 
TRX, Inc. HR shall have no obligation during the term of the licence to maintain, develop or support the Licensed Programs. 

  

	 	9.12	Notwithstanding any other provision(s) of this Agreement, insofar as they are relevant, the provisions of Clause 9 shall apply to partial as well as total termination of this
Agreement. 

  

	10.	GOVERNING LAW AND DISPUTE RESOLUTION 

  

	 	10.1	This Agreement is governed by and shall be construed in accordance with English law. 

  

	 	10.2	Initial Procedures. The parties shall make all reasonable efforts to resolve all disputes without resorting to litigation. If a dispute arises between the parties, the
Managing Director of ETRX and the Program Director of HR will attempt to reach an amicable resolution. If either of them determines that an amicable resolution cannot be reached, they shall submit such dispute in writing (a “Dispute
Notice”) to the CEO of TRX Inc and the Business Technology Director of HR (the “Management Representatives”), who shall use their best efforts to resolve it or to negotiate an appropriate modification or amendment.

  

	 	10.3	Escalation. Except as otherwise provided in this Agreement, neither party shall be permitted to bring proceedings against the other (save for injunctive relief) until the
earlier of (i) the date the Management Representatives conclude in good faith that an amicable resolution of the dispute through continued negotiation is unlikely, or (ii) sixty days from the date of submission of a Dispute Notice by either party.

  

	 	10.4	The courts of England and Wales shall have exclusive jurisdiction to hear and decide any suit, action or proceedings, and to settle any disputes, which may arise out of or in
connection with this Agreement (respectively, “Proceedings” and “Disputes”) and, for these purposes, each party irrevocably submits to the jurisdiction of the courts of England and Wales. 

 

	 	10.5	Each party irrevocably waives any objection which it might at any time have to the courts of England and Wales being nominated as the forum to hear and decide any Proceedings and to
settle any Disputes and agrees not to claim that the courts of England and Wales are not a convenient or appropriate forum. 

  

	11.	CONFIDENTIALITY 

  

	 	11.1	During the course of this Agreement a party (the “Receiving Party”) may come into possession of technology, computer software, documentation, trade secrets, products,
copyrights or other confidential and proprietary information (“Confidential Information”) of the other (the “Disclosing Party”). 

  

	 	11.2	The Receiving Party: 

  

	 	11.2.1	may not use the Disclosing Party’s Confidential Information for a purpose other than the performance of its obligations under this Agreement; 

  

 13 

	 	11.2.2	may not disclose the Disclosing Party’s Confidential Information to a person except with the prior written consent of the Disclosing Party or in accordance with clauses 11.3
and 11.4; and 

  

	 	11.2.3	shall make every effort to prevent the use or disclosure of the Disclosing Party’s Confidential Information. 

  

	 	11.3	The Receiving Party may disclose the Disclosing Party’s Confidential Information to any of its directors, other officers, employees, sub-contractors and Group members (a
“Recipient”) to the extent that disclosure is desirable for the purposes of this Agreement. 

  

	 	11.4	The Receiving Party shall ensure that a Recipient is made aware of and complies with the Receiving Party’s obligations of confidentiality under this Agreement as if the
Recipient was a party to this Agreement. The Receiving Party shall be liable for any and all acts or omissions of its Recipient which violate the Receiving Party’s obligations of confidentiality hereunder. 

  

	 	11.5	Clauses 11.2 to 11.4 do not apply to Confidential Information which: 

  

	 	11.5.1	is at the date of this Agreement, or at any time after that date becomes, publicly known other than by the Receiving Party’s or Recipient’s breach of this Agreement; or

  

	 	11.5.2	can be shown by the Receiving Party to the Disclosing Party’s reasonable satisfaction to have been known by the Receiving Party before disclosure by the Disclosing Party to the
Receiving Party; or 

  

	 	11.5.3	is independently developed by a party or any other member(s) of its Group without reference to the Confidential Information of the other party or any member(s) of its Group; or

  

	 	11.5.4	the Receiving Party is obliged to disclose by law or regulatory authority. 

  

	 	11.6	The Receiving Party’s obligation with respect to the Confidential Information of the Disclosing Party shall, subject to Clause 11.5, survive the termination of this Agreement
and Clauses 14.1.2 and 14.1.3 shall not apply to breaches of this Clause 11. 

  

	 	11.7	Retention. HR may retain, subject to its confidentiality obligations, copies of ETRX’s Confidential Information required for internal recordkeeping purposes and for
compliance with applicable professional standards. 

  

	 	11.8	Notwithstanding the foregoing, HR shall have the right to disclose ETRX’s confidential information to, and/or allow access to such by, any of HR’s Group members,
contractors, subcontractors, agents and/or other third parties supplying products, services or systems in support of HR’s obligations under this Agreement, provided that such contractors, subcontractors, agents and/or other third parties shall
be deemed HR “Recipients” and shall be subject to the confidentiality provisions set forth in Clause 11.4. 

  

	12.	PROPRIETARY MATERIALS 

  

 14 

	 	12.1	Ownership. ETRX is and shall continue to be the exclusive owner of all ETRX-owned data and all data (other than HR’s own internal records and accounts which are
incidental to providing the Services) which is created by HR or a third party on behalf of HR specifically in connection with the performance by HR of its obligations under this Agreement (“Data”); provided that HR may retain one
copy of any Data for its files. For the avoidance of doubt “Data” shall not (unless mutually agreed in writing) include any software or code created by HR for ETRX under or in relation to this Agreement, and all such software and code
shall (subject to Clause 9.11 if applicable) remain the exclusive property of HR. 

  

	 	12.2	Auditor Access. Upon ETRX’s written
request, HR shall provide ETRX’s external auditors with access to ETRX Data in HR’s possession as is necessary for ETRX’s external auditor to conduct its audit; provided that ETRX shall inform the external auditor that he will have access to HR’s Confidential Information and may not use or disclose any of HR’s Confidential Information
or proprietary methodologies which may be disclosed in the course of providing such access. HR shall adhere to ETRX’s reasonable written internal procedures and guidelines relating to the disclosure of ETRX Data to such external auditors. If
requested by ETRX as Additional Services, HR shall provide to such external auditors any assistance that they might reasonably require in connection with such audits. Subject to ETRX approval, HR shall make all reasonable changes requested by, and
take any other reasonable action necessitated by, any such audit or examination. Such changes will be carried out as Additional Services. Access by any third party to HR’s tools, procedures or methodologies will be subject to the requirements
of HR’s standard policies regarding granting access to its Confidential Information. 

  

	 	12.3	Publications. Notwithstanding anything contained herein to the contrary, if ETRX intends to publish or otherwise reproduce any of HR’s work product or to make reference
to HR in any document that contains other information, ETRX agrees to (i) provide HR with a draft of the document to review, and (ii) obtain HR’s written approval for inclusion of HR’s name or work product in such document before the
document is printed and distributed. HR shall not unreasonably withhold or delay such approval. 

  

	13.	REPRESENTATIONS AND WARRANTIES 

  

	 	13.1	Capacity, Authorisation and Effect of Agreement 

  
 Each party hereby represents and warrants to the other that: 
  

	 	(a)	Such party has all requisite power and authority to execute this Agreement and to perform its obligations thereunder. The execution, delivery and performance of this Agreement and
the transactions contemplated thereby have been duly authorized and approved by such party; 

  

	 	(b)	The execution and delivery of this Agreement by such party, and the consummation by such party of the transactions contemplated therein, will not breach or violate the
organizational documents or any material contract, agreement, instrument, judgment, law or licence which is applicable to such party, or to which such party is bound; and 

  

 15 

	 	(c)	No consent, approval or authorization of, or notice to, any governmental or regulatory authority or agency is required to be obtained by such party in connection with its execution,
delivery and performance of this Agreement. 

  

	 	13.2	Accuracy of Information. ETRX warrants that all information (whether written or oral) and materials given or made available by ETRX to HR will be current, complete and
accurate in all material respects and shall not omit to state any material fact. ETRX warrants that it will update such information on a prompt and continuous basis. HR’s ability to perform acceptably under this Agreement is expressly
contingent upon the foregoing warranty. 

  

	 	13.3	Condition of hardware, software and other material. ETRX warrants that all hardware, software and other material given or made available by ETRX to HR will be in good
condition and good working order and that it will keep all such hardware, software and material properly maintained (fair wear and tear excepted) unless and to the extent that maintenance of the same is to be provided as part of the Services).
HR’s ability to perform acceptably under this Agreement is expressly contingent upon the foregoing warranty. 

  

	 	13.4	Third Party Consents. ETRX warrants that it has obtained all third-party consents and security clearances that are needed to enable HR to have access (on-site and remote) to
all third-party products, data, information and other assets to be utilized by HR in providing the Services, including, without limitation, all consents needed for HR to access and use any applicable ETRX systems, hardware and software.

  

	 	13.5	Year 2000. ETRX acknowledges that the programming assumptions made in the development of either (i) the computer hardware, software or other products owned, leased or
otherwise used by ETRX (the “ETRX System”) and/or (ii) the computer hardware, software or other products owned, licensed or otherwise used by any third party whose systems in any way interact with, exchange data with or are interdependent
with any ETRX System (the “Third Party Systems”), may prevent certain existing and future system functions in either the ETRX System or Third Party Systems from performing as originally intended with respect to data, calculations and other
processing relating to dates of January 1, 2000 and beyond (collectively, the “Year 2000 Problems”). 

  

	 	13.6	ETRX acknowledges that HR shall have no obligation under this Agreement to correct any Year 2000 Problems, nor does HR have any obligation to provide any type of Year 2000 advice or
services (whether review, analysis, planning, implementation, remediation, project management or any other type of Year 2000 advice or services). To the extent ETRX wishes to engage HR to perform any such services, they must be mutually agreed to in
a separately signed Year 2000 consulting services agreement or amendment between ETRX and HR. 

  

	 	13.7	ETRX AGREES THAT HR HAS NO RESPONSIBILITY FOR ANY OF THE FOLLOWING WHICH RESULT FROM ANY YEAR 2000 PROBLEM: 

  

	 	(a)	ANY INACCURACY IN THE PERFORMANCE OF THE SERVICES; 

  

	 	(b)	ANY DELAY IN THE PERFORMANCE OF THE SERVICES; OR 

  

	 	(c)	ANY INABILITY TO PERFORM THE SERVICES.  

  

 16 

	 	13.8	HR represents that it has a backup plan in place consistent with industry standards to recover all data and information necessary for the performance of the Services hereunder in
the event of a failure of HR’s computer systems and/or functionality in such a manner which will adversely impact HR’s standard operating procedures. 

  

	 	13.9	HR represents and warrants that it will provide the Services with reasonable skill and care. 

  

	 	13.10 	EXCEPT AS EXPRESSLY PROVIDED IN THIS CLAUSE, NO EXPRESS OR IMPLIED WARRANTY IS MADE BY EITHER PARTY WITH RESPECT TO ANY SERVICE, PRODUCT, SOFTWARE RELEASE, DATA COMPILATION OR ANY
OTHER MATTER, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, SATISFACTORY QUALITY OR FITNESS FOR A PARTICULAR PURPOSE. WITHOUT PREJUDICE TO THE WARRANTIES HEREUNDER HR DOES NOT WARRANT THAT ALL ERRORS IN ANY
SOFTWARE CAN OR WILL BE CORRECTED OR THAT THE FUNCTIONALITY OF ANY SOFTWARE WILL MEET ETRX’S REQUIREMENTS. 

  

	14.	LIABILITY 

  

	 	14.1.1 	NEITHER HR, ETRX NOR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS, WILL BE LIABLE TO THE OTHER FOR ANY CLAIMS OR SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES ARISING OUT
OF THE SERVICES PROVIDED BY THIS AGREEMENT OR A BREACH OF THE AGREEMENT EVEN IF THAT LOSS OR DAMAGE WAS REASONABLY FORESEEABLE OR EITHER PARTY WAS AWARE OF THE POSSIBILITY OF THAT LOSS OR DAMAGE ARISING, WHETHER SUCH DAMAGES OR CLAIMS ARE BASED ON
BREACH OF WARRANTY OR CONTRACT, NEGLIGENCE, STRICT LIABILITY, TORT, PRODUCTS LIABILITY OR OTHERWISE. 

  

	 	14.1.2 	EXCEPT IN RELATION TO CLAUSES 9.2, 11.6, 14.3.2, 14.3.3, 14.4.2 AND 14.4.3 (TO WHICH THIS CLAUSE SHALL NOT APPLY), IN NO EVENT WILL EITHER PARTY’S LIABILITY FOR ANY DAMAGES OR
INJURIES TO THE OTHER PARTY HEREUNDER EVER EXCEED THE TOTAL CHARGES PAID BY ETRX FOR THE SERVICES PROVIDED HEREUNDER FROM FEBRUARY 18, 2000 TO THE DATE OF THE ACT OR OMISSION THAT GAVE RISE TO THE CLAIM, REGARDLESS OF THE FORM OF ACTION, WHETHER IN
CONTRACT, NEGLIGENCE, STRICT LIABILITY, TORT, PRODUCT LIABILITY OR OTHERWISE. 

  

	 	14.1.3 	NOTWITHSTANDING ANY OTHER PROVISION(S) OF THIS AGREEMENT (OTHER THAN CLAUSES 11.6, 14.3.2, 14.3.3, 14.4.2 AND 14.4.3 (TO WHICH THIS CLAUSE SHALL NOT APPLY), IN NO EVENT WILL
HR’S LIABILITY ARISING HEREUNDER IN ANY CALENDAR YEAR IN RELATION TO ANY PARTICULAR PART OF THE SERVICES EVER EXCEED THE TOTAL CHARGES PAID BY ETRX IN THE TWELVE (12) MONTHS THAT IMMEDIATELY PRECEDE THE ACT OR OMISSION THAT GAVE RISE TO THE
CLAIM FOR THE PART OF THE SERVICES IN QUESTION, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, NEGLIGENCE, STRICT LIABILITY, TORT, PRODUCT LIABILITY OR OTHERWISE. 

  

 17 

	 	14.2	Nothing in this Agreement shall operate to limit or exclude the liability of either party for fraud and/or in respect of death or personal injury arising as a result of the
negligence of that party. 

  

	 	14.3	Indemnification by HR. HR shall indemnify and hold ETRX, its directors, officers, partners, employees and affiliates harmless against, and will reimburse ETRX for, any
payment, loss, cost or expense (including reasonable attorneys’ fees) incurred by ETRX from any third-party claim or suit asserted against ETRX at any time after February 18, 2000 in respect of: 

  

	 	14.3.1	the damage to real and/or tangible personal property at HR’s facilities or arising pursuant to the performance of HR’s obligations under this Agreement to the extent such
damage is proximately caused by the negligence or willful misconduct of HR, its partners, employees or agents; this Clause 14.3.1 shall be subject to Clause 14.1; and 

  

	 	14.3.2	the death or bodily injury of any person arising pursuant to the performance of HR’s obligations under this Agreement to the extent such death or injury is proximately caused
by the negligence or wilful misconduct of HR, its partners, employees or agents; and 

  

	 	14.3.3	the infringement of the intellectual property or contractual rights of any person or entity resulting from ETRX’s use of any work products created by HR or any third party
(other than by any member(s) of the TRX Group) on behalf of HR under this Agreement. Notwithstanding the foregoing, HR will not indemnify ETRX to the extent that the claim of infringement is caused directly by (1) ETRX’s misuse or modification
of HR’s work products; (2) ETRX’s failure to use corrections or enhancements made available by HR; (3) ETRX’s use of HR’s work products in combination with any product or information not owned or developed by HR or any third
party (other than any member(s) of the TRX Group) on behalf of HR; (4) ETRX’s distribution, marketing or use for the benefit of third parties of HR’s work products; or (5) information, data, hardware, software or other materials provided
by ETRX or any third party on behalf of ETRX. This Clause 14.3.3 shall not be subject to Clauses 14.1.2 or 14.1.3. 

  

	 	14.4	Indemnification by ETRX. ETRX shall indemnify and hold HR its partners, employees and affiliates harmless against, and will reimburse HR for, any payment, loss, cost or
expense (including reasonable attorneys, fees) incurred by HR from any third-party claim or suit asserted against HR at any time after February 18, 2000 in respect of: 

  

	 	14.4.1	damage to real and/or tangible personal property at ETRX’s facilities or arising pursuant to the performance of ETRX’s obligations under this Agreement, to the extent such
damage is proximately caused by the negligence or willful misconduct of ETRX, its partners, employees, or agents; this Clause 14.4.1 shall be subject to Clause 14.1; and 

  

	 	14.4.2	 the death or bodily injury of any person arising pursuant to the performance of ETRX’s obligations under this Agreement, to the extent such death or injury is
 

  

 18 

	 	 
proximately caused by the negligence or wilful misconduct of ETRX, its partners, employees, or agents; 

  

	 	14.4.3	the infringement by HR of the intellectual property and contractual rights of any person or entity resulting from the use by HR of any of ETRX’s or any of ETRX’s
clients’ (to the extent required by ETRX) information, data or software or third-party software provided by or at the request of ETRX to HR, for HR’s performance of the Services and/or Additional Services. Notwithstanding the foregoing,
ETRX will not indemnify HR to the extent that the claim of infringement is caused directly by (1) HR’s misuse or modification of ETRX’s or any ETRX’s clients’ information, data or software or third-party software, provided by or
at the request of ETRX to HR for HR’s performance of the Services and/or Additional Services; (2) HR’s failure to use corrections or enhancements made available by or at the request of ETRX; (3) HR’s use of materials information or
software provided by or at the request of ETRX in combination with any product or information not owned, developed or provided by or at the request of ETRX; (4) HR’s distribution, marketing or use for the benefit of third parties of such
materials, information or software, or (5) information, data, hardware, software or other materials provided by HR or any third party on behalf of HR. 

  

	 	14.4.4	any claim by any third party relating to the conduct of ETRX’s functions and operations occurring prior to February 18,2000; 

  

	 	14.4.5	the failure of ETRX to obtain any consent relating to HR’s use of any third-party products provided by or specifically requested by ETRX in connection with this Agreement;

  

	15.	FORCE MAJEURE 

  

	 	15.1	If a party (the “Affected Party”) is prevented, hindered or delayed from or in performing any of its obligations under this Agreement (other than the payment of
monies) by a Force Majeure Event: 

  

	 	15.1.1	the Affected Party’s obligations under this Agreement are suspended while the Force Majeure Event continues and to the extent that it is prevented, hindered or delayed;

  

	 	15.1.2	as soon as reasonably possible after the start of the Force Majeure the Affected Party shall notify the other party in writing of the Force Majeure Event, the date on which the
Force Majeure Event started and the effects of the Force Majeure Event on its ability to perform its obligations under this Agreement; 

  

	 	15.1.3	the Affected Party shall make all reasonable efforts to mitigate the effects of the Force Majeure Event on the performance of its obligations under this Agreement; and

  

	 	15.1.4	as soon as reasonably possible after the end of the Force Majeure Event the Affected Party shall notify the other party in writing that the Force Majeure Event has ended and resume
performance of its obligations under this Agreement. 

  

 19 

	 	15.2	If the Force Majeure Event continues for more than three months starting on the day the Force Majeure Event starts and is affecting a party’s performance of any material
obligation(s) hereunder, the unaffected party may terminate this Agreement by giving not less than 30 days’ written notice to the other party. 

  

	 	15.3	In Clause 15, “Force Majeure Event” means an event beyond the reasonable control of the Affected Party including, without limitation, act of God, war, riot, civil
commotion, malicious damage, compliance with a law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood and storm. 

  

	16.	REMEDIES 

  

	 	16.1	Limitation Period. Neither party may assert against the other any claim in connection with this Agreement unless the asserting party has given the other party written notice
of the claim within one (1) year after the asserting party first knew or should reasonably have known of the facts giving rise to such claim. 

  

	 	16.2	Release. Because of the importance of management’s representations to HR with respect to HR’s ability to perform its Services, ETRX agrees to release HR and its
personnel from any liability and costs relating to the Services hereunder which liability and costs are attributable to any misrepresentation made by ETRX management. 

  

	17.	MISCELLANEOUS 

  

	 	17.1	Binding Nature and Assignment: Subcontract. Neither party may assign or delegate its rights or obligations under this Agreement without the prior written consent of the
other, save that a party shall not unreasonably withhold its consent to the assignment or delegation by the other of its rights and/or obligations to a majority-owned subsidiary of that party, provided that it is satisfied that such subsidiary has
the financial and other resources in order properly to perform that party’s obligations hereunder. Subject to the foregoing limitation on assignment, this Agreement is binding upon and inures to the benefit of the successors and assigns of the
respective parties hereto. 

  
 ETRX hereby
expressly acknowledges and confirms that certain of the Services have historically been outsourced/sub-contracted by HR and that these arrangements may continue during the Term. Notwithstanding the foregoing, HR shall remain fully responsible and
liable for any and all Services and/or Additional Services performed by any such subcontractor to the extent that HR obtains redress from the subcontractor(s) in question after having used good faith reasonable commercial endeavours to obtain such
redress, and ETRX shall not be required to seek recourse against any such subcontractor in lieu of or prior to seeking recourse against HR. HR acknowledges and agrees that the foregoing shall in no way limit ETRX’s rights with respect to
termination of this Agreement pursuant to Clause 8.4.1. 
  

	 	17.2	Notices. Any notice or other communication required to be given under this Agreement or in connection with the matters contemplated by it shall, except where otherwise
specifically provided, be in writing in the English language and shall be addressed as provided in this clause and may be: 

  

	 	17.2.1	personally delivered, in which case it shall be deemed to have been given upon delivery at the relevant address; or 

  

 20 

	 	17.2.2	sent to the relevant address by prepaid registered mail with advance telefax, in which case it shall be deemed to have been given 2 business days after the date of posting (business
days meaning any day on which commercial banks in London are fully open for business). 

  
 The addresses and other details of the parties referred to in this clause are, subject to notification of change, as below: 
  

			
		
	Name:	  	Hogg Robinson
		
	For the attention of:	  	The Company Secretary
		
	Address:	  	 Global House,
 Victoria Street,
 Basingstoke,
 Hampshire,
 RG21 3BT

		
	Fax number:	  	01256 325229
		
	Name:	  	e-TRX Limited
		
	For the attention of:	  	Managing Director
		
	Address:	  	 Sutherland House
 Russell Way
 Crawley
 West Sussex RH 10 1UH

		
	with a copy to:	  	 
		
	Name:	  	TRX, Inc. (on behalf of any and all of the TRX Party)
		
	For the attention of:	  	President with a copy to Ralph Manaker (General Counsel and Executive VP)
		
	Address:	  	 6 West Druid Hills Drive
 Atlanta, Georgia
30329
 U.S.A.

		
	Fax number:	  	001 404 814 2967

  
 Either party may change its address
for the purpose of this Clause by giving the other party written notice of its new address in the manner set forth above. 
  

	 	17.3	 Relationship of Parties. HR is acting as an independent contractor in providing its services. HR Personnel shall remain HR’s employees for all purposes
including, but not limited to, determining responsibility for all payroll-related obligations. HR shall at all 

  

 21 

	 	 
times be responsible for supervising, directing and coordinating the professional responsibilities and duties of all HR Personnel in respect of their
performance of the Services. Except as otherwise expressly provided in this Agreement, HR does not undertake to perform any obligations of ETRX, whether regulatory or contractual, or to assume any responsibility for the management of ETRX’s
business. 

  

	 	17.4	Severability. If any provision of this Agreement is found to be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement which shall remain in force. 

  

	 	17.5	Waiver. No delay or omission by either party to exercise any right or power under this Agreement or pursuant to applicable law shall impair such right or power or be
construed as a waiver thereof. A waiver by any party of any covenant or breach shall not be construed to be a waiver of any other covenant or succeeding breach. All waivers must be given in writing by the waiving party to be effective.

  

	 	17.6	Publicity. All media releases, public announcements and public disclosures by either party relating to this Agreement, including, without limitation, promotional or marketing
material, but not including any disclosure required by legal, accounting or regulatory requirements, shall be approved by both parties prior to such release. 

  

	 	17.7	Entire Agreement. This Agreement and the PTA constitutes the entire agreement between the parties regarding the Services and supersedes all prior agreements and
understandings. No amendment, modification, waiver or discharge of this Agreement shall be valid unless in writing and signed by authorized representatives of both parties. 

  

	 	17.8	HR-Developed Software. Any software developed by HR in providing Services is outside the scope of this Agreement and therefore, absent written agreement to the contrary, will
be the property of HR. 

  

	 	17.9	Multiple Counterparts. This Agreement may be executed in a number of identical counterparts, each of which shall be deemed an original for all purposes and all of which
constitute, collectively, one Agreement. 

  

	 	17.10	Third Party Claims. This Agreement has been entered into for the sole benefit of ETRX and HR, and in no event shall any third-party beneficiaries be created thereby.

  

	 	17.11	Survival. Such provisions of this Agreement as are required to survive its termination or expiry in order to give full force and effect to the rights and obligations of the
parties hereunder shall be deemed to so survive. 

  

 22 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 
  

									
	 Hogg Robinson Plc
	 	 	 	 e-TRX Limited

					
	By:	 	 /s/ Business Technology Director
	 	 	 	By:	 	 /s/ Director

	 Title:
	 	 Business Technology Director
	 	 	 	 Title:
	 	 Director

  

 23 

 Execution Copy 
  
 SCHEDULE 1 SERVICES 
  
 General issues (which apply to both this Schedule and Schedule 2): 
  

HR reserves the right at its discretion to sub-contract some or all of the Services, and change said service provider or bring the Services back ‘in-house’.

  
 ETRX will be responsible pursuant to Clause 9.2 for all costs incurred by HR
on termination or part termination of the services. 
  
 For the avoidance of
doubt, as soon as HR ceases to provide any particular part(s) of the Services it shall cease provision in all respects as of the termination date (ie no run-offs) unless and to the extent expressly provided for to the contrary herein.

  
 Those Services which are to be terminated prior to the end of the Initial Term
are detailed in one or more of the Schedules – if no early termination date is stated in respect of a part of the Services in any of these Schedules, then that part of the Services will be provided until the end of the Initial Term unless
mutually agreed otherwise. 
  
 If and to the extent that ETRX wishes to reinstate
a terminated part of the Service, HR shall have no obligation to do so, but, if it does agree to do so, HR shall be entitled to charge premium rates (as opposed to the rates specified in this Agreement) for the part in question. 
  
 HR will be under no obligation to provide services not listed in this Agreement, except as
provided for in Clause 3.1. 
  
 As contemplated by Clause 8.1.2, for so long as
ETRX is permitted to use the Subnumber (including after the expiry or termination of this Agreement), HR will continue to provide those of the Services which are either involved in processing     *    
transactions through the Subnumber, or supporting those transactions, and ETRX shall continue to make payments hereunder in respect of those Services. 
  
 The Services to be provided under the heading of “General/Purchase ledger – staff” in Schedule 4 will be provided until 30 September 2004. However, the
parties agree that, in the interim (commencing as soon as reasonably practicable after the Effective Date), the Finance Director of ETRX and the Finance Director of BTI will investigate in good faith the different options under which ETRX may
continue to use HR’s JBA, Essbase and Hyperion financial systems. If no agreement can be reached by them within a reasonable period of time, the said Services will (unless otherwise agreed) continue unaltered until 30 September 2004.

  
 * CONFIDENTIAL TREATMENT REQUESTED 

 Where charges include personnel costs, ETRX agrees that HR may adjust those charges no more than once per annum (with
effect from April of the year in question) to reflect a     *     increase in employee remuneration. 
  

	1.	FINANCIAL SERVICES:  

  
 GENERAL ACCOUNTING 
  
 Maintain general ledger system security 
  
 Resolution to general ledger system problems 
  
 TREASURY 
  
 Process BSP obligation re:     *     
  
 Resolve bank service issues (    *     only) 
  
 Coordinate new investing 
  
 Review / analyse investment positions on a daily basis 
  
 Maintain investment records 
  

	l.	TAX 

  
 Charging for tax-related services during the Initial Term will be on the following basis: the preparation of P11Ds and the PAYE settlement for the tax year ended 5 April 2004 will be for a fixed fee (see Schedule 4).
All other time spent by HR’s Director of Tax will, (unless otherwise agreed, or unless expressly provided for to the contrary below) be charged at     *     (the “Agreed Rate”). 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 a) CORPORATION TAX 
  
 HR will be responsible for preparing and submitting the corporation tax returns (partially outsourced by Hoggs to
PricewaterhouseCoopers) for the year ended 31 March 2003 – no charge will be made for this work. ETRX will be responsible for dealing with any enquiries raised by the Inland Revenue thereon (anticipated in March 2005). 
  
 HR also prepared and submitted the 2002 tax return – any Inland Revenue
queries thereon must be issued by the Inland Revenue before 31 March 2004. HR will deal with these queries at the Agreed Rate if requested by ETRX, otherwise they will be handled by ETRX or their advisors. 
  
 Preparation of P11D’s and PAYE Settlement for tax year ended 5 April 2004 (ie 2003/4)
will specifically be prepared by HR as these relate to a period in which ETRX has operated under the HR PAYE reference. 
  
 From 6 April 2004, it is intended that ETRX will be operating under its own PAYE reference and will therefore be responsible for filing its own P11Ds and PAYE Settlements
returns. ETRX will promptly upon HR’s written request make funds available to HR to settle ETRX’s share of the PAYE and NIC liabilities arising from the filing of the 2003/4 returns referred to above -the provisions of Clauses 14.1.2 and
14.1.3 shall not apply to ETRX’s obligations in respect of such funds. 
  
 ETRX further agrees to co-operate reasonably and provide HR on a timely basis with such information as is reasonably required for HR to complete the said tax returns fully and accurately. 
  
 b) VAT 
  
 ETRX was excluded from the HR VAT group from 1 January 2004 and will have to file a separate
VAT return under its own registration from that date. Its first VAT return will likely cover the quarter ended 31 March 2004 and will need to be submitted by the end of April 2004. ETRX will be responsible for preparing and filing this and settling
any tax as well as dealing with any queries thereon raised by HMC & E. 

 HR is responsible at its own cost for preparing the HR Group’s VAT return for the quarter ending 31st December and ETRX agrees to reasonably co-operate with HR in providing the necessary information in order for HR to complete
the VAT return accurately and on a timely basis. ETRX will make funds available in time for HR to settle ETRX’s share of the VAT due on 31 January 2004. The provisions of Clauses 14.1.2 and 14.1.3 will not apply to this payment obligation.

  
 ETRX will be responsible for handling queries from HMC&E in so far as
these relate to ETRX’s VAT affairs post-31 December 2003. If requested by ETRX, HR will provide reasonable support to ETRX in respect of this at the Agreed Rate. 
  
 HR is responsible for the handling of queries in so far as they relate to ETRX whilst ETRX was within the HR VAT group (i.e. up to 31
December 2003) and ETRX shall co-operate reasonably with HR in resolving these. No charge for this will be made by HR. 
  
 c) GENERAL 
  
 At ETRX’s request, HR shall co-operate reasonably with ETRX’s tax advisors in relation to handover matters, with or without advisors, including providing copies of documentation held by HR which relate to
ETRX’s tax affairs, and HR shall be entitled to charge for such co-operation at the Agreed Rate. 
  
 In respect of any other tax issues, where ETRX requests assistance from HR after the Effective Date or general VAT advice, HR reserves the right to charge ETRX at the Agreed Rate. HR will be under no obligation to
provide such advice. It may be necessary to engage external advisors to provide such advice, who will be engaged directly by ETRX. In such instances HR will liase with the external advisors on behalf of ETRX to scope the engagement, agree the fee
and ‘project manage’ the advisors. 
  
 David Mills has been set up as
the prime contact with the Inland Revenue for corporation tax matters with Chris Gibson to be copied in as agent until such time as ETRX wish to appoint someone else in Chris Gibson’s place. 
  
 As a result of the fact that new VAT and PA YE registrations are being effected, all
correspondence under the new registrations will automatically go to ETRX with Michaela Davis named as the prime contact 

 
(and not HR). Any correspondence relating to ETRX operating under the Hoggs Group VAT and PAYE references will still be received directly by HR and will be
promptly forwarded to ETRX where relevant. 
  

	2.	PAYROLL 

  
 Enter tax form changes 
  
 Interface/reconcile payroll system with human resource records/system 
  
 Administer third party requests related to payroll 
  
 Adjustments to pay (overtime, bonus, allowances, deductions) 
  
 Amending payroll records and runs to reflect leavers, joiners, salary reviews and transfers 
  
 Validation of data entry/coding 
  
 Transmission of payroll data (to third party, currently “Carapay”)

  
 Distribution of pay cheques 
  
 Produce and distribute payroll reports 
  
 Pay raise documentation (record keeping only - letters issued by ETRX)

  
 Prepare and distribute annual forms (W-2, etc.) 

 Prepare and submit payroll tax returns 
  
 Monitor tax change impact on filing requests 
  
 Payroll system close month/year 
  
 Interface payroll system with third party systems 
  

	3.	HUMAN RESOURCES 

  
 Pension plan processing and pension statements 
  
 Medical plan transaction processing 
  
 Arrangement and maintenance of Flexible Benefits Scheme     *     
  
 Administration of car lease scheme (outsourced by HR to HSBC) and the
provision of fuel cards. Prior to 31st January 2004 ETRX shall inform HR of which of the 3 options detailed below it will take and thereafter the parties will work together to implement that option
as soon as reasonably practicable: 
  

	 	1)	ETRX may take all the cars it currently has in the HR fleet (currently 16) and set them up as its own fleet with HSBC and will promptly reimburse HR for all costs and expenses
arising directly in respect of these cars and their leases whilst they remain part of the HR car fleet; or 

  

	 	2)	terminate all the car leases between now and the end of the Initial Term, and promptly reimburse HR for its losses arising directly from these terminations and for all costs and
expenses arising directly in respect of these cars and their leases whilst they remain part of the HR car fleet; or 

  

 * CONFIDENTIAL TREATMENT REQUESTED 

	 	3)	run-off all the existing car leases (3 leases end in 04; 7 in 05 and 6 in 06) and promptly reimburse HR for all costs and expenses arising directly in respect of these cars and
their leases whilst they remain part of the HR car fleet. ETRX will not take on any new cars during the run-off period. 

  
 The provisions of Clauses 14.1.2 and 14.1.3 shall not apply to ETRX’s payment obligations in relation to cars as set out above. 
  

	4.	FACILITIES 

  
 Consultancy e.g. identification of new premises, advice on floor plans and furnishing (excluding IT equipment), costing. 
  
 Facilities management of Leicester office and Crawley office. For the
avoidance of doubt, these services will (as contemplated by Clause 8.1.2) continue to be provided in respect of each office for so long as ETRX (and to the extent that) ETRX continues to have a sub-lease of the office in question. 
  

	5.	VENDORS 

  
 ETRX may request air, car and hotel vendor services through HR. HR will either negotiate an appropriate agreement on ETRX’s behalf or negotiate the
right for ETRX to receive such services under HR’s own agreement with each such vendor. The decision as to whether such services will be provided under HR’s agreement or a separate ETRX agreement with the vendor shall be made by HR in its
sole discretion on a case by case basis. 
  
 If ETRX desires to
be a beneficiary of HR’s Computer Reservation System (CRS) service agreements, such an arrangement shall be the subject of a Change Order. 

	6.	MATERIAL SUPPLIERS 

  
 HR shall negotiate the right for ETRX to buy materials and supplies under HR’s material supplier agreements. 
  
 During the Initial Term ETRX will continue to receive those of the bought-in
third party services it currently receives through HR (eg mobile phones) to the extent that HR is legally able to provide them through its existing arrangements, and provided that ETRX promptly reimburses HR for all the costs and expenses directly
arising as a result of their provision and ETRX’s use of them. Where HR cannot legally provide such services it will, if so requested by ETRX, use good faith reasonable endeavours (subject to the payment by ETRX of HR’s standard hourly
rates for time spent by the personnel in question) to assist ETRX in setting up its own arrangements with HR’s providers and/or sourcing new service providers. The provisions of Clauses 14.1.2 and 14.1.3 shall not apply to ETRX’s payment
obligations in relation to the services as set out above. 
  

	7.	TRAVEL 

  
 HR will charge a     *     for all reservations made for ETRX employees. ETRX will cease with immediate effect to
make any use of: (a) any HR Group agency discount tickets; and (b) HR Group’s hotel “marketing fund”. 
  

 * CONFIDENTIAL TREATMENT REQUESTED 

 Execution Copy 
  
 SCHEDULE 2 SERVICES 
  
 The Schedule 2 Services to be provided for the Initial Term are as follows: 
  
 USE OF HOGGS INTERNET CONNECTIVITY 
  
 Use of the existing HR internet connection and associated services 
  
 24/7 OPERATIONS SUPPORT 
  
 Provide 24/7 support of the existing ETRX Computer systems in Farnborough. 
  
 Work in collaboration with ETRX Technical Support in Leicester to provide support 
  
     *     TRANSACTION PROCESSING 
  
 UK Online Fulfilment Services (OFS) 
  
 Receive and process GDS interface records 
  
 Populate OFS database 
  
 Produce a data handoff for TicketPartner 
  
 Produce an itinerary wrapper 
  
 Investigation/correction of rejected GDS
interface records 
  
 Maintenance and support of OFS application 
  
 Handling new versions / enhancements to GDS interfaces and GDS related services 

 
 Provide bespoke development from change requests. This work is chargeable at the agreed
rate as detailed in Schedule 4. 
  

 * CONFIDENTIAL TREATMENT REQUESTED 

 Schedule 2 Charges: 
  
 1. The following IS services have historically been charged outside of the Shared Services Agreement, these charges are     *    
charges. They are     *     charges with the exception of     *     these charges will fluctuate     *     as they are
transaction     *     
  

							
	 •      Use of Hoggs connectivity
	  	    *    	 	 	  	 
	 •      Weekend ops support
	  	 	 	    *    	  	 
	 •          *     market fees
	  	 	 	    *    	  	 
	 •          *     staff cost (to BTI UK)
	  	 	 	    *    	  	 
	 •          *     —estimated
    *    
	  	    *    	 	 	  	 
	 •          *     (a straight passthrough which may vary according
to ETRX’s requirements)
	  	    *    	 	 	  	 
	 	  	 	 	

	 •      Servebase support
	  	    *    	 	 	  	 
	 	  	 	 	    *    	  	 
	 	  	 	 	

  
 2.
    *     each transaction will be charged at     *     Fees for any such transactions which HR carried out prior to the Effective Date will remain due and payable.

  
 Value Added Tax will be charged in addition pursuant to Clause 7.5.

  
 Except as stated otherwise, the above prices are fixed for all service and
transaction volumes (calculated     *     up to     *     of those volumes as at the Effective Date. HR has the right to review the
    *     and     *     transaction prices referred to above if any particular volume(s) increases by over     *     by reference
to Effective Date volumes. To the extent that exceeding     *     of those volumes does not cause HR to incur additional unit costs, then the prices shall remain unchanged. 
  
 However, where HR can reasonably demonstrate that exceeding the
    *     of volumes will cause it to incur additional unit costs, the parties will meet to negotiate an increase in price to reflect the additional cost to HR. 
  

 34 
  

 * CONFIDENTIAL TREATMENT REQUESTED 

 If, acting reasonably and in good faith, the parties cannot agree an increase in price in relation to the increased
volume(s), then HR will continue to provide the services to     *     (but not more) of the Effective Date volume(s) in question, and ETRX shall source its additional requirements from third parties and/or
provide them in-house. 
  
 Bespoke development work required by ETRX pursuant to
Schedule 2 will be carried out at actual cost to     *    . 
  

 21 
  

 * CONFIDENTIAL TREATMENT REQUESTED 

 UK Travel Back Office (TBO) Reconciliation 
  
 Production of reconciliation handoffs     *     
  
 Reconciliation of     *     
  

	 	•	 	Maintain reconciliation rules 

  

	 	•	 	Investigate differences 

  

	 	•	 	Send schedules of outstanding items to ETRX for investigation 

  

	 	•	 	Produce summary reconciliation report 

  
 Reconciliation of     *     
  

	 	•	 	Maintain reconciliation rules 

  

	 	•	 	Investigate differences 

  

	 	•	 	Send schedules of outstanding items to ETRX for investigation 

  

	 	•	 	Produce summary reconciliation report 

  
 UK MI 
  
 Production of 1 daily MI file for ETRX 
  
 Production of a daily Phoenix
file for each of     *     
  
 Production
of 1 monthly MI file for     *     
  
 Production of 1 monthly Net ticket report 
  
 Computer Operations
Support 
  
 Manage the IBM AS/400 systems for eTRX 
  
 Manage upgrades, capacity planning, daily maintenance 
  
 Manage the daily transaction processing of GDS interface records for ETRX clients;
    *     
  
     *     WRAPPERS 
  
 Each
transaction will be charged at     *    . Fees for any such transactions which HR carried out prior to the Effective Date will remain due and payable. 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 PURCHASING/ HELPDESK TECHNOLOGY & SUPPORT 
  
 As of 1 April 2004 HR will cease to provide services in respect of ‘Purchasing’ and ‘Helpdesk and Technology Support’ as
identified in Schedule 4. ETRX will however continue to purchase certain elements of Helpdesk and Technology Support as considered necessary by HR for eTRX to remain on the HR network. These services will be specified by HR following agreement with
ETRX, once a technical and process review has taken place. 

 SCHEDULE 3 
 FORM OF CHANGE ORDER 
  
 In accordance with the terms and conditions of this Agreement for Shared Services dated January 1, 2004 (the “Agreement”) between e-TRX Limited
(“ETRX”) and Hogg Robinson plc (“HR”) it is agreed between the parties that the additional services described below (the “Additional Services”) are not currently included in the scope of Services under the Agreement.

  
 ETRX has requested such Change Order and HR is willing to
provide such Additional Services under the same terms and conditions of this Agreement, subject to the additional terms (including payment terms) described herein. If any of the following terms conflicts with this Agreement, the following terms
shall govern with respect to the Additional Services described below. 
  
 [Detailed description of Additional Services, payment terms and any relevant assumptions.] 
  
 Agreed this          day of                 200  . 
  

									
	 e-TRX LIMITED
	 	 	 	 HOGG ROBINSON PLC

					
	By:	 	 	 	 	 	By:	 	 
					
	 Title:
	 	 	 	 	 	 Title:
	 	 

  

 26 

 SCHEDULE 4 
     *     CHARGES 
  

 27 
  
 * CONFIDENTIAL TREATMENT REQUESTED 

 Execution Copy 
  
 SCHEDULE 4 
  
 CHARGES 
  
 Schedule 1 Charges: 
  

							
	 Service

	  	HR Charge (£)

	 	Cessation Date

	  	 Notes

	 1 Shared Services (Finance)
	  	 	 	 	  	 
				
	 General/Purchase Ledger – staff
	  	    *    	 	30/09/04	  	    *    
				
	 Accounting systems maintenance
	  	    *    	 	 	  	    *    
				
	 Treasury     *    
	  	    *    	 	 	  	    *    
				
	 P11Ds – 2003/4 and PAYE settlement 2003/4
	  	    *    	 	 	  	    *    

  

 * CONFIDENTIAL TREATMENT REQUESTED 

							
	 General tax advice
	  	    *    	 	 	  	    *    
				
	 2 Shared Services (HR)
	  	 	 	 	  	 
				
	 HR management, disciplinary etc
	  	    *    	 	01/04/04	  	    *    
				
	 Recruitment
	  	    *    	 	01/04/04	  	    *    
				
	 Car policy and Flex Scheme
	  	    *    	 	 	  	    *    
				
	 Payroll processing
	  	    *    	 	 	  	    *    

  

 * CONFIDENTIAL TREATMENT REQUESTED 

							
	 	  	 	 	 	  	    *    
				
	Int on late payment of payroll @ 3.77% on an annual basis	  	 	 	 	  	    *    
				
	Incremental cost re new payroll (Carapeople etc)	  	    *    	 	 	  	    *    
				
	 3 Shared Services (Insurance, Legal & Regulatory)
	  	 	 	 	  	 
				
	Insurance	  	    *    	 	Immediately	  	 
				
	Legal advice (contract)	  	    *    	 	Immediately	  	 
				
	Legal advice (employment)	  	    *    	 	Immediately	  	 
				
	Co.secretarial work	  	    *    	 	Immediately	  	 
				
	Marketing / Exhibition work	  	    *    	 	Immediately	  	 
				
	Board prep / BB	  	    *    	 	Immediately	  	 
				
	Account Mgmt	  	    *    	 	Immediately	  	 
				
	CFO time	  	    *    	 	Immediately	  	 

  

 * CONFIDENTIAL TREATMENT REQUESTED 

							
	4 Shared Services (Comms costs)	    	 	  	 	  	 
				
	Comms team	    	    *    	  	 	  	    *    
				
	IT Security	    	    *    	  	 	  	    *    
				
	Data Protection	    	    *    	  	 	  	    *    
				
	Helpdesk & tech support	    	    *    	  	01/04/04	  	    *    
				
	Purchasing	    	    *    	  	01/04/04	  	    *    
				
	Lan costs	    	    *    	  	 	  	    *    
				
	WAN costs	    	    *    	  	 	  	    *    

							
				
	Leicester UPS	    	    *    	  	 	  	    *    
				
	5 Shared Services (Car & property lease costs)	    	 	  	 	  	 
				
	Car lease maintenance	    	    *    	  	 	  	    *    
				
	Property management	    	    *    	  	 	  	    *    
				
	Add                                
    *     mark up	    	 	  	 	  	 

 SCHEDULE 5 
 COSTS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}]]