Document:

Exhibit 10.1

  

CONFIDENTIAL

 

November 13, 2012

 

Kevin L. Reager

7800 Belfort Parkway, Suite 165

Jacksonville, FL 32256

Dear Kevin:

 

This letter confirms the agreement between
Global Axcess Corp., a Nevada corporation, Nationwide Money Services, Inc., a Nevada corporation, Nationwide Ntertainment Services,
Inc., a Nevada corporation and EFT Integration, Inc., a Florida corporation (collectively, the “Borrowers”)
and you, to engage you as the Chief Restructuring Officer of each of the Borrowers.

 

You hereby accept your appointment as Chief Restructuring Officer.
In such capacity, you shall:

 

		i)	exercise full day-to-day management authority and control of the Borrowers;

 

		ii)	subject to any necessary approval of the Board of Directors and shareholders of the Borrowers,
exercise full authority to pursue and execute documents, and consummate transactions regarding the sale of all or substantially
all of the assets of the Borrowers in accordance with the terms of the Forbearance Agreement and Amendment entered into by and
among Borrowers, Insta Video, Inc. (in its capacity as a guarantor), Fifth Third Bank (“Lender”), and Fifth
Third Equipment Finance Company (“Lessor,” and together with Lender, the “Fifth Third Parties”),
entered into as of the date hereof (the "Forbearance Agreement"); and

 

		iii)	advise the Borrowers' Boards of Directors of all material information relating to the restructuring
efforts, including the Chief Restructuring Officer's proposed strategy, timetable, Golding & Company, Inc.’s (or such
other investment advisor as may be retained by Borrowers and approved by Lender) recommendations, expressions of interest received
from potential acquirers and investors and such other information as the Boards of Directors may reasonably request from time to
time;

 

You agree to maintain all non-public information
provided to you by Borrowers or on Borrowers’ behalf, or accessed by you in connection with your services, in a secure manner
and to use such information solely for the purpose of providing the services which are the subject of this agreement and to treat
all such information confidentially; provided that nothing herein shall prevent you from disclosing any such information (i) to
the Fifth Third Parties or their respective advisors, agents, attorneys, successors or assigns, (ii) pursuant to the order of any
court or administrative agency or in any pending legal or administrative proceeding, (iii) upon the request or demand of any regulatory
authority having jurisdiction over Borrowers, (iv) to the extent that such information was or becomes publicly available other
than by reason of disclosure by you in violation of this agreement or was or becomes available to you from a source which is not
known by you to be subject to a confidentiality obligation to Borrowers, or
(vi) to the extent such information was independently developed by you without reference to such non-public information.

 

7800 Belfort Parkway Suite 165 / Jacksonville,
FL 32256

www.globalaxcess.biz / Phone: 904.280.3950
/ Fax: 904.280.2180

    	 

    	 	

    
 

You may terminate the engagement under
this agreement at any time upon fifteen days’ prior written notice to the Borrowers. Borrowers may terminate the engagement
under this agreement (a) for cause, immediately upon written notice to you or (b) at any time after the expiration or termination
of the "Forbearance Period" (as defined in the Forbearance Agreement) upon ten days' written notice to you. The confidentiality
provisions of this agreement shall survive any termination of this Agreement.

 

You agree that the services you provide
hereunder shall be performed in addition to your role as the Borrowers' Chief Executive Officer and without any additional consideration
therefor. This agreement shall be governed by and construed in accordance with the laws of the State of Florida. This agreement
embodies the entire agreement and understanding between Borrowers and you with respect to your services as Chief Restructuring
Officer and supersedes all prior agreements and understandings relating to the subject matter of this agreement. This agreement
may be executed in any number of counterparts. Such counterparts may be delivered by one party to the other by facsimile or other
electronic transmission, and such counterparts shall be valid for all purposes. The invalidity or unenforceability of any provision
of this agreement shall not affect the validity or enforceability of any other provisions of this agreement, which shall remain
in full force and effect.

If this letter correctly sets forth the
understanding between us, please so indicate by signing on the designated space below and returning a signed copy to us.

 

Very truly yours,

 

	GLOBAL AXCESS CORP	NATIONWIDE MONEY SERVICES, INC.
	 	 
	By /s/ Michael J. Loiacono	By /s/ Michael J. Loaicono
	Name: Michael J. Loiacono	Name: Michael J. Loiacono
	Title: CFO & CAO	Title: CFO

 

 

	NATIONWIDE NTERTAINMENT	EFT INTEGRATION, INC.
	SERVICES, INC.	 
	 	 
	By /s/ Michael J. Loiacono	By /s/ Michael J. Loiacono
	Name: Michael J. Loiacono	Name: Michael J. Loiacono
	Title: CFO	Title: CFO
	 	 
	 	 
	ACCEPTED AND AGREED AS OF	 
	THE DATE FIRST WRITTEN ABOVE:	 
	 	 
	/s/ Kevin L. Reager	 
	KEVIN L. REAGER	 

 

 

 

7800 Belfort Parkway Suite 165 / Jacksonville,
FL 32256

www.globalaxcess.biz / Phone: 904.280.3950
/ Fax: 904.280.2180Exhibit
10.2

 

tRANSACTION
INCENTIVE BONUS AGREEMENT

 

THIS TRANSACTION
INCENTIVE BONUS AGREEMENT (this “Agreement”) is made and entered into as of November 14, 2012, between Global Access
Corp. a Nevada corporation (the “Company”), and Kevin L. Reager (“Employee”), an individual resident of
the State of Arizona.

 

WHEREAS, the
Company wishes to provide Employee with certain payments in the case of a recapitalization, restructuring or sale of the Company;

 

NOW, THEREFORE,
in consideration of the premises, mutual promises and covenants and benefits of the parties hereto set forth herein, Employee and
the Company, intending to be legally bound, agree as follows:

 

1.                 
Term. The term (the “Term”) of this Agreement shall begin on the date hereof (the “Effective
Date”) and shall continue until December 31, 2013, or if earlier, the first to occur of a (i) sale of substantially all of
the assets of the Company (“Sale of the Company”), (ii) recapitalization or restructuring of the Company which, in
the reasonable opinion of the Company’s Board of Directors, will provide sufficient liquidity to support the continued growth
strategy of the Company’s business (a “a Recapitalization or Restructuring,” and together with a Sale of the
Company, each a “Triggering Event”), or (iii) the date the Employee’s employment with the Company is terminated
for Cause.

 

2.                 
Bonus Payment.

 

(a)               
Payment. If, during the Term, there is (i) a Sale of the Company, the Company shall pay to Employee a lump sum cash
payment (“Sale Bonus”) equal to the greater of (A) Two Hundred Twenty Five Thousand Dollars ($225,000) or (B) one percent
(1%) of the total consideration received by the Company (including without limitation any financing proceeds) in connection with
such Triggering Event; or (ii) a Recapitalization or Restructuring, the Company shall pay to Employee a lump sum cash payment equal
to One Hundred Thousand Dollars ($100,000) (the “Recapitalization/Restructuring Bonus,” and together with the Sale
Bonus, each a “Bonus”). The Bonus shall be payable within two (2) business days after the Triggering Event giving rise
to such payment obligation.

 

(b)              
Definition of Cause. As used herein, “Cause” shall mean if in the reasonable best judgment of the Company,
the Employee (a) has committed an act of dishonesty against the Company; (b) has been convicted of any felony or any crime
of moral turpitude, whether a felony or not; (c) has engaged in conduct of such a serious and substantial nature that the Employee’s
continued employment would cause it harm; (d) repeatedly fails to follow the directives of the Company’s Board of Directors;
or (e) willfully fails to fulfill Employee’s job responsibilities.

 

    	 

    	 

    
 

3.                 
Notices. For the purpose of this Agreement, notices and all other communications to either party hereunder
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or mailed
by first-class mail or airmail, postage prepaid, addressed:

 

If to Employee:

 

Kevin L. Reager

10670 East Desert Cove
Avenue

Scottsdale, AZ 85259

 

If to the Company:

 

Global Access Corp.

7800 Belfort Parkway, Suite 165

Jacksonville, FL 32256

Attention: Corporate
Secretary

 

or to such other address (es) as either
party may have furnished to the other party in writing in accordance with this Section 3.

 

4.                 
Entire Agreement and Amendment. No provision of this Agreement may be amended, modified or waived unless such
amendment, modification or waiver is agreed to in writing and is signed by Employee and a representative of the Company, its successor
or permitted assignee. This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements
(if any), understandings and arrangements (oral or written) between the parties hereto. No agreements or representations, oral
or otherwise, expressed or implied, with respect to the subject matter of this Agreement have been made by either party that are
not expressly set forth in this Agreement.

 

5.                 
Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not
affect the validity or enforceability of the other provisions of this Agreement, which other provisions shall remain in full force
and effect, nor shall the invalidity or unenforceability of a portion of any provision of this Agreement affect the validity or
enforceability of the balance of such provision.

 

6.                 
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to
be an original and all of which together shall constitute a single agreement.

 

7.                 
Headings. The headings of the Sections contained in this Agreement are for reference purposes only and shall
not, in any way, affect the meaning or interpretation of any provision of this Agreement.

 

8.                 
Applicable Law. This Agreement shall be governed by and construed in accordance with the internal substantive
laws, and not the choice of law rules, of the State of Florida.

 

9.                 
Compliance with Code Section 409A. This Agreement is intended to comply with Section 409A of the Internal
Revenue Code of 1986, as amended (“Section 409A”) or an exemption thereunder and shall be construed and administered
in accordance with Section 409A. Notwithstanding any other provision of this Agreement, payments provided under this Agreement
may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this
Agreement that may be excluded from Section 409A as a short-term deferral shall be excluded from Section 409A to the maximum extent
possible. The Employee understands and agrees the Company makes no representations that the payments and benefits provided under
this Agreement comply with Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties,
interest or other expenses that may be incurred by the Employee on account of non-compliance with Section 409A.

 

10.             
Assignment by Employee. Employee’s rights and obligations under this Agreement may not be in any way
assigned.

 

    	 

    	 

    

 

IN WITNESS
WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer, and Employee has
executed and delivered this Agreement, all as of the date first written above.

 

 

 

	
        Global Access Corp.

         

        /s/ Michael J. Loiacono

        By: Michael J. Loiacono

        Its:Chief Financial Officer

         

	
        Kevin L. Reager 

         

        /s/ Kevin L. Reager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}]]