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EXHIBIT 10.4

                AMENDMENT TO CHIEF EXECUTIVE EMPLOYMENT AGREEMENT

The parties agree that Section 2 of the Chief Executive Employment Agreement
effective January 28, 2002 is hereby changed and amended to read as follows:

      2, Employment Term. Unless sooner terminated in accordance with the
      provisions of this Agreement, the term of this Agreement shall commence on
      January 28, 2002 and shall continue until the third anniversary of such
      date and thereafter shall continue for additional one year periods unless
      either party gives the other party written notice of non-renewal at least
      one month prior to any anniversary date of this Agreement. As used herein,
      the term "Employment Term" shall refer to the foregoing period.

/s/ Bradley C. Houlberg           /s/ Harold D. Garrison
-----------------------           ----------------------
Bradley C. Houlberg               Harold D. Garrison
President                         Chairman, on Behalf of the Board of Directors

10/20/04                          10/20/04
--------                          --------
Date                              Dateexv10w1

 

	 	 	 	 	 

Exhibit 10.1

FIFTH AMENDMENT TO

BUSINESS LOAN AGREEMENT

     This FIFTH AMENDMENT TO BUSINESS LOAN AGREEMENT (“Amendment”) is entered
into as of July 30, 2004, between TRM CORPORATION (the “Borrower”) and BANK OF
AMERICA, N.A. (the “Bank”).

RECITALS

     A.       Borrower and Bank are parties to that certain Business Loan Agreement
entered into as of May 15, 2003, as amended by a First Amendment to Business
Loan Agreement entered into as of March 25, 2004, a Second Amendment to
Business Loan Agreement entered into as of April 30, 2004, a Third Amendment to
Business Loan Agreement entered into as of May 31, 2004 and a Fourth Amendment
to Business Loan Agreement entered into as of June 30, 2004 (the “Business Loan
Agreement”).

     B.       Borrower and Bank desire to amend the Business Loan Agreement as set
forth herein.

     NOW THEREFORE, the parties agree as follows:

AGREEMENT

     1.       Recitals. The Recitals are true.

     2.       Definitions. Capitalized terms used herein and not otherwise defined
shall have the meaning given in the Business Loan Agreement.

     3.       Amendment to Section 1.2 of the Business Loan Agreement. Section 1.2
of the Business Loan Agreement is amended in its entirety to read:

“1.2 Availability Period. The line of credit is
available between the date of this Agreement and
August 31, 2004, or such earlier date as the
availability may terminate as provided in this
Agreement (the “Facility No. 1 Expiration Date”).”

     4.       Release. Borrower hereby releases Bank and its officers, agents,
successors and assigns from all claims of every nature known or unknown arising
out of or related to the Business Loan Agreement which exist, or but for the
passage of time, could be asserted, on the date Borrower signs this Amendment.

     5.       No Further Amendment, Expenses. Except as expressly modified by this
Amendment, the Business Loan Agreement and all other documents executed by the
parties in connection with the transactions contemplated by the Business Loan
Agreement shall remain unmodified in full force and effect and the parties
hereby ratify their respective obligations

31

 

thereunder. Without limiting the foregoing, Borrower expressly reaffirms
and ratifies its obligation to pay or reimburse Bank on request for all
reasonable expenses, including legal fees actually incurred by Bank in
connection with the preparation of this Amendment, any other amendment
documents and the closing of the transaction contemplated hereby and thereby.

     6.       Effective Date. The foregoing provisions are effective upon execution
hereof.

     7.       Miscellaneous.

               (a)       Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original, and all of which
taken together shall constitute one and the same Amendment, it being understood
that the Bank may rely on a facsimile counterpart signature page hereof for
purpose of determining whether a party hereto has executed a counterpart
hereof.

               (b)       Governing Law. This Amendment and the other agreements provided for
herein and the rights and obligations of the parties hereto and thereto shall
be construed and interpreted in accordance with the laws of the State of
Oregon.

               (c)       Certain Agreements Not Enforceable. UNDER OREGON LAW, MOST
AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS AFTER OCTOBER 3, 1989,
CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY
OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN
WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE.

     EXECUTED AND DELIVERED by the duly authorized officers of the parties as
of the date first above written.

	 	 	 	 	 
	 	BORROWER: TRM CORPORATION

 	 
	 	By:  	/s/ Daniel E. O'Brien
 	 
	 	 	Name:  	Daniel E. O'Brien 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	BANK:       BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/ Eric Eidler
 	 
	 	 	Name:  	Eric Eidler 	 
	 	 	Title:  	Senior Vice President 	 

32

 

	 	 	 	 	 

CONSENTS OF GUARANTORS

     The undersigned Guarantor, TRM Copy Centers (USA) Corporation, consents to
the execution and delivery of the Fourth Amendment to Business Loan Agreement
between Bank of America, N.A. and TRM Corporation set forth above and agrees
that its Continuing Guaranty dated March 17, 2000 shall continue to be
applicable to all indebtedness of TRM Corporation to Bank of America, N.A.,
including without limitation all indebtedness under the Business Loan Agreement
dated May 15, 2003, as amended by the First, Second, Third, Fourth and Fifth
Amendments thereto, subject however to the Thirty Million Dollar ($30,000,000)
limit specified in paragraph 2 of such Continuing Guaranty.

	 	 	 	 	 
	 	TRM Copy Centers (USA) Corporation

 	 
	Dated July 30, 2004 	By:  	/s Daniel E. O'Brien
 	 
	 	 	Name:  	Daniel E. O'Brien 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

     The undersigned Guarantor, TRM ATM Corporation, consents to the execution
and delivery of the Fifth Amendment to Business Loan Agreement between Bank of
America, N.A. and TRM Corporation set forth above and agrees that its
Continuing Guaranty dated February 14, 2001 shall continue to be applicable to
all indebtedness of TRM Corporation to Bank of America, N.A., including without
limitation, all indebtedness under the Business Loan Agreement dated May 15,
2003, as amended by the First, Second, Third, Fourth and Fifth Amendments
thereto, subject however to the Thirty Million Dollar ($30,000,000) limit
specified in paragraph 2 of such Continuing Guaranty.

	 	 	 	 	 
	 	TRM ATM Corporation

 	 
	Dated July 30, 2004 	By:  	/s/ Daniel E. O'Brien
 	 
	 	 	Name:  	Daniel E. O'Brien 	 
	 	 	Title:  	Chief Financial Officer 	 

33exv10w2

 

	 	 	 	 	 

Exhibit 10.2

SIXTH AMENDMENT TO

BUSINESS LOAN AGREEMENT

     This SIXTH AMENDMENT TO BUSINESS LOAN AGREEMENT (“Amendment”) is entered
into as of August 31, 2004, between TRM CORPORATION (the “Borrower”) and BANK
OF AMERICA, N.A. (the “Bank”).

RECITALS

     A.       Borrower and Bank are parties to that certain Business Loan Agreement
entered into as of May 15, 2003, as amended by a First Amendment to Business
Loan Agreement entered into as of March 25, 2004, a Second Amendment to
Business Loan Agreement entered into as of April 30, 2004, a Third Amendment to
Business Loan Agreement entered into as of May 31, 2004, a Fourth Amendment to
Business Loan Agreement entered into as of June 30, 2004 and a Fifth Amendment
to Business Loan Agreement entered into as of July 30, 2004 (the “Business Loan
Agreement”).

     B.       Borrower and Bank desire to amend the Business Loan Agreement as set
forth herein.

     NOW THEREFORE, the parties agree as follows:

AGREEMENT

     8.       Recitals. The Recitals are true.

     9.       Definitions. Capitalized terms used herein and not otherwise defined
shall have the meaning given in the Business Loan Agreement.

     10.       Amendment to Section 1.2 of the Business Loan Agreement. Section 1.2
of the Business Loan Agreement is amended in its entirety to read:

“1.2 Availability Period. The line of credit is
available between the date of this Agreement and
October 31, 2004, or such earlier date as the
availability may terminate as provided in this
Agreement (the “Facility No. 1 Expiration Date”).”

     11.       Release. Borrower hereby releases Bank and its officers, agents,
successors and assigns from all claims of every nature known or unknown arising
out of or related to the Business Loan Agreement which exist, or but for the
passage of time, could be asserted, on the date Borrower signs this Amendment.

     12.       No Further Amendment, Expenses. Except as expressly modified by this
Amendment, the Business Loan Agreement and all other documents executed by the
parties in connection with the transactions contemplated by the Business Loan
Agreement shall remain unmodified in full force and effect and the parties
hereby ratify their respective obligations

34

 

thereunder. Without limiting the foregoing, Borrower expressly reaffirms
and ratifies its obligation to pay or reimburse Bank on request for all
reasonable expenses, including legal fees actually incurred by Bank in
connection with the preparation of this Amendment, any other amendment
documents and the closing of the transaction contemplated hereby and thereby.

     13.       Effective Date. The foregoing provisions are effective upon execution
hereof.

     14.       Miscellaneous.

                  (a)       Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original, and all of which
taken together shall constitute one and the same Amendment, it being understood
that the Bank may rely on a facsimile counterpart signature page hereof for
purpose of determining whether a party hereto has executed a counterpart
hereof.

                  (b)       Governing Law. This Amendment and the other agreements provided for
herein and the rights and obligations of the parties hereto and thereto shall
be construed and interpreted in accordance with the laws of the State of
Oregon.

                  (c)       Certain Agreements Not Enforceable. UNDER OREGON LAW, MOST
AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS AFTER OCTOBER 3, 1989,
CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY
OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN
WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE.

     EXECUTED AND DELIVERED by the duly authorized officers of the parties as
of the date first above written.

	 	 	 	 	 
	 	BORROWER: TRM CORPORATION

 	 
	 	By:  	/s/ Kenneth Lewis Tepper
 	 
	 	 	Name:  	Kenneth Lewis Tepper 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	BANK:       BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/ Eric Eidler
 	 
	 	 	Name:  	Eric Eidler 	 
	 	 	Title:  	Senior Vice President 	 

35

 

	 	 	 	 	 

CONSENTS OF GUARANTORS

     The undersigned Guarantor, TRM Copy Centers (USA) Corporation, consents to
the execution and delivery of the Sixth Amendment to Business Loan Agreement
between Bank of America, N.A. and TRM Corporation set forth above and agrees
that its Continuing Guaranty dated March 17, 2000 shall continue to be
applicable to all indebtedness of TRM Corporation to Bank of America, N.A.,
including without limitation all indebtedness under the Business Loan Agreement
dated May 15, 2003, as amended by the First, Second, Third, Fourth, Fifth and
Sixth Amendments thereto, subject however to the Thirty Million Dollar
($30,000,000) limit specified in paragraph 2 of such Continuing Guaranty.

	 	 	 	 	 
	 	TRM Copy Centers (USA) Corporation

 	 
	Dated August 31, 2004 	By:  	/s/ Kenneth Lewis Tepper
 	 
	 	 	Name:  	Kenneth Lewis Tepper 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

     The undersigned Guarantor, TRM ATM Corporation, consents to the execution
and delivery of the Sixth Amendment to Business Loan Agreement between Bank of
America, N.A. and TRM Corporation set forth above and agrees that its
Continuing Guaranty dated February 14, 2001 shall continue to be applicable to
all indebtedness of TRM Corporation to Bank of America, N.A., including without
limitation, all indebtedness under the Business Loan Agreement dated May 15,
2003, as amended by the First, Second, Third, Fourth, Fifth and Sixth
Amendments thereto, subject however to the Thirty Million Dollar ($30,000,000)
limit specified in paragraph 2 of such Continuing Guaranty.

	 	 	 	 	 
	 	TRM ATM Corporation

 	 
	Dated August 31, 2004 	By:  	/s/ Kenneth Lewis Tepper
 	 
	 	 	Name:  	Kenneth Lewis Tepper 	 
	 	 	Title:  	President and Chief Executive Officer 	 

36

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