Document:

Prepared by R.R. Donnelley Financial -- Agreement for Information Technology Services

  
 Exhibit 10.31 
  
 AGREEMENT 
  
 FOR 
  
 INFORMATION TECHNOLOGY SERVICES 
  
 between 
  
 GLOBAL PAYMENT SYSTEMS, LLC 
  
 and 
  
 ELECTRONIC DATA SYSTEMS CORPORATION

  
 

  
 TABLE OF CONTENTS 
  
 
	 
	 ARTICLE I.   DEFINITIONS
 	  	  
	         Section 1.1
 	 	 Certain Definitions
 	  	 1
 
	 
	 ARTICLE II.   AGREEMENT AND TERM
 	  	  
	 
	         Section 2.1
 	 	 Agreement
 	  	 3
 
	         Section 2.2
 	 	 Term
 	  	 3
 
	         Section 2.3
 	 	 Marketing
 	  	 3
 
	         Section 2.4
 	 	 Advisory Panel
 	  	 3
 
	         Section 2.5
 	 	 International Cooperation
 	  	 3
 
	 
	 ARTICLE III.   EDS OBLIGATIONS AND REPRESENTATIONS
 	  	  
	 
	         Section 3.1
 	 	 Base Services
 	  	 3
 
	         Section 3.2
 	 	 Other Services
 	  	 4
 
	         Section 3.3
 	 	 Training
 	  	 4
 
	         Section 3.4
 	 	 Operating Instructions, System Changes
 	  	 4
 
	         Section 3.5
 	 	  	  	 5
 
	         Section 3.6
 	 	 EDS Account Executive
 	  	 5
 
	         Section 3.7
 	 	 GLOBAL’s Rights to Use EDS Systems
 	  	 5
 
	         Section 3.8
 	 	 Warranties
 	  	 5
 
	         Section 3.9
 	 	 EDS Representations and Warranties
 	  	 6
 
	         Section 3.10
 	 	 EDS Obligation to Fund Settlement
 	  	 6
 
	         Section 3.11
 	 	 Forms
 	  	 6
 
	 
	 ARTICLE IV.   GLOBAL OBLIGATIONS AND REPRESENTATIONS
 	  	  
	 
	         Section 4.1
 	 	 GLOBAL Obligations
 	  	 6
 
	         Section 4.2
 	 	 GLOBAL Account Executive
 	  	 7
 
	         Section 4.3
 	 	 GLOBAL Representation and Warranties
 	  	 7
 
	 
	 ARTICLE V.   PAYMENTS TO EDS
 	  	  
	 
	         Section 5.1
 	 	 Transaction Payments
 	  	 8
 
	         Section 5.2
 	 	 Charges for Other Services
 	  	 8
 
	         Section 5.3
 	 	 Reruns
 	  	 8
 
	         Section 5.4
 	 	 Payment
 	  	 8
 
	         Section 5.5
 	 	 Taxes
 	  	 8
 
	         Section 5.6
 	 	 Termination Fee
 	  	 8
 
	         Section 5.9
 	 	 Direct Settlement
 	  	 9
 
	  	 	  	  	  

 
 

 i 

  
 
	 ARTICLE VI. SAFEGUARDING OF GLOBAL DATA, CONFIDENTIALITY, AND AUDIT RIGHTS
 	  	  
	 
	         Section 6.1
 	  	 Ownership and Use of Data
 	  	 9
 
	         Section 6.2
 	  	 Safeguarding Data Integrity
 	  	 10
 
	         Section 6.3
 	  	 EDS System Ownership
 	  	 10
 
	         Section 6.4
 	  	 Confidentiality
 	  	 10
 
	         Section 6.5
 	  	 Security
 	  	 11
 
	         Section 6.6
 	  	 Audit Rights
 	  	 11
 
	         Section 6.7
 	  	 Contingency Planning
 	  	 11
 
	 
	 ARTICLE VII. PERFORMANCE REVIEW AND TERMINATION
 	  	  
	 
	         Section 7.1
 	  	 Dispute Resolution
 	  	 12
 
	         Section 7.2
 	  	 Termination for Cause
 	  	 12
 
	         Section 7.3
 	  	 Termination for Nonpayment
 	  	 13
 
	         Section 7.4
 	  	 Termination for Insolvency
 	  	 13
 
	         Section 7.5
 	  	 Rights Upon Termination
 	  	 13
 
	 
	 ARTICLE VIII. INDEMNITIES AND LIABILITY
 	  	  
	 
	         Section 8.1
 	  	 Cross Indemnity
 	  	 13
 
	         Section 8.2
 	  	 Correcting Defects
 	  	 13
 
	         Section 8.3
 	  	 Limitation of Liability
 	  	 14
 
	         Section 8.4
 	  	 Infringement Indemnity
 	  	 14
 
	         Section 8.5
 	  	 Procedures
 	  	 14
 
	 
	 ARTICLE IX. MISCELLANEOUS
 	  	  
	 
	         Section 9.1
 	  	 Right of EDS to Perform Services for Others
 	  	 14
 
	         Section 9.2
 	  	 Hiring of Employees
 	  	 14
 
	         Section 9.3
 	  	 Notices
 	  	 15
 
	         Section 9.4
 	  	 Counterparts
 	  	 15
 
	         Section 9.5
 	  	 Relationship of Parties
 	  	 15
 
	         Section 9.6
 	  	 Notices, Approvals and Similar Actions
 	  	 15
 
	         Section 9.7
 	  	 Force Majeure
 	  	 15
 
	         Section 9.8
 	  	 Waiver
 	  	 16
 
	         Section 9.9
 	  	 Media Releases
 	  	 16
 
	         Section 9.10
 	  	 Entire Agreement
 	  	 16
 
	         Section 9.11
 	  	 Governing Law
 	  	 16
 
	         Section 9.12
 	  	 Assignment
 	  	 16
 
	         Section 9.13
 	  	 Amendment
 	  	 16
 

 

	

	

 

 ii 

  

	

 LIST OF SCHEDULES 
  
 SCHEDULE A—DESCRIPTION OF SERVICES AND CHARGES 
  
 SCHEDULE B—SERVICE LEVELS

  
 SCHEDULE C—TERMINATION PAYMENT SCHEDULE 
  
  
 

 iii 

  
 AGREEMENT FOR INFORMATION TECHNOLOGY SERVICES 
  
 THIS AGREEMENT, dated as of October 1, 2001, between GLOBAL PAYMENT SYSTEMS, LLC, a limited liability company chartered under the laws of the State of Georgia
(hereinafter referred to as “GLOBAL”), and ELECTRONIC DATA SYSTEMS CORPORATION, a Delaware corporation (hereinafter referred to as “EDS”). 
  
 RECITALS 
  
 WHEREAS, EDS is in the business of providing
information technology services to financial institutions and other service providers to service and process VISA and/or MasterCard related bank card cardholder account, commercial cardholder account, off-line debit, debit gateway and merchant
account transactions; and 
  
 WHEREAS, GLOBAL desires to obtain, and EDS desires to furnish, information technology
services for the merchant account processing business of GLOBAL (both currently owned by GLOBAL and acquired by GLOBAL during the term of this Agreement) all on the terms and subject to the conditions set forth herein; and 
  
 WHEREAS, GLOBAL and EDS entered into an Agreement for Information Technology Services as of December 18, 1996 (the “Original
Agreement”) for the purpose of GLOBAL receiving and EDS furnishing certain services based on the terms and conditions described in this Agreement; and 
  
 WHEREAS, GLOBAL and EDS have negotiated and agreed to numerous amendments to the Original Agreement; and 
  
 WHEREAS, the amendments that have been agreed to are of such a nature and extent as to make it desirable for GLOBAL and EDS to restate their entire Agreement but such new Agreement shall remain to be
the Processing Services Agreement contemplated under the Asset Purchase Agreement entered into between the parties as of December 19, 1996; 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, covenants, representations, and warranties herein contained, the parties hereto agree as follows: 
  
 ARTICLE I. 
 DEFINITIONS 

 

	1.1
	 
	Certain Definitions. As used in this Agreement: 
 

  

	 	(a)
	 
	“Account Executives” shall mean the EDS Account Executive and the GLOBAL Account Executive. 
 

  

	 	(b)
	 
	“Advisory Panel” shall mean a panel composed of members from EDS and from GLOBAL, which shall be formed and which shall operate in accordance with the
provisions of Section 2.5 of this Agreement. 
 

  

	 	(c)
	 
	“Bank” shall mean a financial institution designated by GLOBAL. 
 

  

	 	(d)
	 
	“Base Services” shall mean the information technology services and applications related to Merchant Data Processing and included in the Base Price and
generally described in Schedule A of this Agreement. 
 

  

	 	(e)
	 
	“Business Day” shall mean any weekday, Monday through Friday, except where any such day is a federal holiday. 
 

 

	 	(f)
	 
	“Debit services” shall mean off-line and debit gateway services. 
 

  

	 	(g)
	 
	“Documentation” shall mean, to the extent provided to GLOBAL, written and electronic documents, manuals (including user manuals), and reference
materials which collectively contain a description
 
 

 

	 	
and/or definition of basic or necessary operating conditions, characteristics, capabilities, and specifications of the Base Services. 
 

  

	 	(h)
	 
	“GLOBAL” shall mean GLOBAL PAYMENT SYSTEMS, LLC, a Georgia limited liability company. 
 

  

	 	(i)
	 
	“GLOBAL Account Executive” shall mean a representative of GLOBAL assigned to work with the EDS Account Executive. Until GLOBAL notifies EDS otherwise,
the GLOBAL Account Executive shall be Tom Davis. 
 

  

	 	(j)
	 
	“EDS” shall mean Electronic Data Systems Corporation, a Delaware corporation. 
 

  

	 	(k)
	 
	“EDS Account Executive” shall mean an EDS account executive assigned to act as GLOBAL’s primary point of contact regarding this Agreement. Until
EDS notifies GLOBAL otherwise, the EDS Account Executive shall be Timothy Cunnane. 
 

  

	 	(l)
	 
	“EDS Owned Systems” shall mean EDS Systems that are owned by EDS, including, without limitation, MAS. 
 

  

	 	(m)
	 
	“EDS Systems” shall mean any System utilized by EDS to provide the Base Services under this Agreement. 
 

  

	 	(n)
	 
	“Effective Date” shall mean 12:01 a.m. Eastern Time, October 1, 2001. 
 

	 	(o)
	 
	“Enhancement Services” shall mean those services described in Section 2.1(k) of this Agreement, relating to modifications of the MAS System.

 

  

	 	(p)
	 
	“Expiration Date” shall mean September 30, 2006. 
 

  

	 	(q)
	 
	“Installation Date” shall mean the date on which GLOBAL completes the installation of the NDC Merchant Accounts to the Base Services. 

  

	 	(r)
	 
	“MasterCard” shall mean MasterCard International, Incorporated. 
 

  

	 	(s)
	 
	“MAS” shall mean EDS’ proprietary Merchant Accounting System. 
 

  

	 	(t)
	 
	“License Agreements” shall mean the software license agreements between EDS and Global relating to (a) the MAS system and (b) the distribution and
exception processing system. 
 

  

	 	(u)
	 
	“Other Services” shall mean all services other than the Base Services described in Schedule A, and shall include without limitation (i) systems
engineering and telecommunications engineering services not specifically described or referred to in Schedule A, (ii) special computer runs or reports, and special accounting information applications, (iii) data processing-related forms, supplies,
and equipment, and (iv) custom or special enhancements to the EDS System. 
 

  

	 	(v)
	 
	“Program” shall mean the information technology services for the merchant processing business of GLOBAL. 
 	 

  

	 	(w)
	 
	“Services” shall mean Base Services and Other Services. 
 

  

	 	(x)
	 
	“System” or “Systems” means and includes (i) computer programs, including without limitation software, firmware, application programs,
operating systems, files and utilities, (ii) supporting documentation for such computer programs, including without limitation input and output formats, program listings, narrative descriptions, operating instructions and programming instructions,
and (iii) the tangible media upon which such programs are recorded, including without limitation chips, tapes, disks and diskettes. “System” or “Systems” shall include computer programs and documentation, as described above,
which exists as of the date of this Agreement as well as any future modifications, changes, additions, or enhancements throughout the term of this Agreement. 
 

  

	 	(y)
	 
	“VISA” shall mean Visa U.S.A., Inc. 
 

 

 2 

 ARTICLE II. 
 AGREEMENT AND TERM

  

	2.1    
	 
	Agreement. Subject to the terms and upon the conditions specified in this Agreement, during the term of this Agreement EDS will supply to GLOBAL, and
GLOBAL will purchase from EDS all of the third party provided Base Services requirements of GLOBAL. 
 

  

	2.2
	 
	Term. The term of this Agreement shall be for the period commencing on the Effective Date and ending on the Expiration Date or on such earlier date upon
which this Agreement is terminated in accordance with the provisions of Sections 7.2, 7.3, or 7.4 of this Agreement. Notwithstanding the foregoing, GLOBAL shall be able to discontinue any of the Other Services at any time upon written notice to EDS.
The term of this Agreement will automatically extend for a period of one (1) year after the Expiration Date and each subsequent one-year anniversary thereafter, unless GLOBAL gives EDS notice at least six (6) months prior to the date this Agreement
would otherwise terminate that it does not wish to further extend the term of this Agreement; or EDS gives GLOBAL notice at least eighteen (18) months prior to the date this Agreement would otherwise terminate that it does not wish to further extend
the term of this Agreement. 
 

  

	2.3
	 
	Marketing and Product Focus. The parties may work together to develop a joint marketing plan for the joint marketing and sales activities contemplated
under the Purchase Agreement. In the event EDS establishes a product focus group, EDS will ensure that GLOBAL participates. 
 

  

	2.4
	 
	Advisory Panel. Promptly following the Effective Date, EDS and GLOBAL shall establish the Advisory Panel, which shall consist of the Account Executives
and additional members each from EDS and GLOBAL as the parties shall determine. The Advisory Panel shall meet no less often than quarterly. 
 

  

	2.5
	 
	International Cooperation. GLOBAL and EDS agree to continue their ongoing good-faith discussions to extend their business relationship to international
opportunities in appropriate circumstances, subject to agreement upon mutually acceptable terms and conditions by both EDS and GLOBAL. 
 

  
 ARTICLE III. 
 EDS OBLIGATIONS AND REPRESENTATIONS 
  

	3.1
	 
	Base Services. Except as otherwise provided in Section 3.1.1, during the term of this Agreement, EDS will be the exclusive third party provider to GLOBAL
of Base Services, In connection with the provision of Base Services hereunder, EDS will: 
 

  

	 	(a)
	 
	Operate the appropriate equipment and EDS Systems so as to furnish (i) daily and other periodic reports listed in the documentation relating to the Services
(examples of which have been provided to GLOBAL prior to the Effective Date), and (ii) such other reports as may reasonably be requested from time to time by GLOBAL, subject to the limitations of the EDS Systems and available EDS personnel, and
subject to the imposition of additional charges for custom reports. 
 

  

	 	(b)
	 
	Provide in a timely manner the information necessary to enable GLOBAL’s customers to settle or cause to be settled all merchant account transactions with
the appropriate networks. 
 

  

	 	(c)
	 
	Electronically accept input and deliver output of data at EDS’s designated locations. 
 

  

	 	(d)
	 
	Make routine modifications and ordinary day-to-day changes and corrections to the EDS Owned Systems and make routine modifications and ordinary changes and
corrections to all other EDS Systems as soon as practicable after EDS receives same. 
 

 

 3 

  

	 	(e)
	 
	Store and safeguard magnetic tapes and disc packs containing data of GLOBAL or of GLOBAL’s customers in accordance with the data integrity safeguards
specified in Section 6.2. 
 

  

	 	(f)
	 
	Provide GLOBAL with one (1) complete electronic set of Documentation used by EDS in performing the Base Services, together with updates as they are developed by
EDS. 
 

  

	 	(g)
	 
	With the cooperation of GLOBAL, develop, maintain and, as necessary in the event of a disaster, execute a disaster recovery plan in accordance with Section 6.7.

 

  

	 	(h)
	 
	Perform the Services in accordance with the Service Levels (“Service Levels”), which are set forth on Schedule B. EDS shall provide GLOBAL on or
before the tenth day of each month with a report demonstrating how EDS performed against each of the Service Levels during the prior month. Until otherwise agreed, Service Levels shall in all cases be at least equal to EDS’ actual monthly
average performance levels as measured during the three (3) months prior to the Effective Date. 
 

  

	 	(i)
	 
	In accordance with the terms of Section 5.5, at no additional cost to GLOBAL other than as provided in Schedule A, perform conversion services to convert
GLOBAL’s existing and future portfolio of merchant accounts to EDS’ Systems. 
 

  

	3.1.1
	 
	It is understood and agreed that the exclusivity provisions of this Agreement relative to EDS as GLOBAL’s exclusive third party provider of Base Services
shall not apply in the following instances: 
 

  

	 	(a)
	 
	Where (i) Base Services are provided under an existing agreement with another third party service provider, or (ii) GLOBAL acquires merchant accounts that are
subject to other contractual requirements relative to the provision of Base Services to such accounts that GLOBAL is in its sole judgment unable to terminate. 
 

  

	 	(b)
	 
	Where GLOBAL enters into a joint venture or alliance with another party in which the merchant and/or cardholder accounts are subject to other contractual
requirements relative to the provision of Base Services to such accounts that GLOBAL is in its sole judgment unable to terminate. 
 

  

	3.2
	 
	Other Services. GLOBAL may from time to time request Other Services. All Other Services provided to GLOBAL will be billed at the price set forth in
Schedule A or, if not, at a mutually agreeable price. To obtain Other Services which are not mentioned on Schedule A, GLOBAL shall present to EDS a written proposal or inquiry. EDS shall respond in writing to such proposal or inquiry
within twenty (20) business days after receipt thereof. If EDS indicates it is willing and able to undertake to provide such Other Services, EDS and GLOBAL shall specify in detail such Other Services in one or more written addenda to this Agreement.
Unless otherwise agreed in advance, EDS shall own the intellectual property rights to the products of such Other Services, and all development projects will be performed in accordance with the procedures prescribed in EDS’s then-current Systems
Life Cycle. Notwithstanding the foregoing, EDS shall assign its copyrights exclusively to GLOBAL for all code developed by EDS specifically for GLOBAL as enhancements or modifications to the MAS system and the distribution and exception processing
system for the purpose of providing Services to GLOBAL hereunder. 
 

  

	3.3
	 
	Training. In the event GLOBAL requests that EDS conduct any training concerning the use of EDS’ procedures, systems, and reports and EDS is willing
to do so, EDS will conduct such training as an Other Service. 
 

  

	3.4
	 
	Operating Instructions, System Changes. GLOBAL agrees to comply with and to cause its customers to comply with all operating instructions pertaining to
the Services as issued by EDS from time to time provided that any such change does not require a material change in the way GLOBAL or its customers does business. In order to continuously improve the efficiency and quality of the Services, EDS
reserves the right to make such software, hardware, and operational changes as it shall reasonably deem necessary provided that any such change does not require a material change in the way GLOBAL or its customers does business.
 
 

 

 4 

	 	
GLOBAL shall be notified in advance of any changes affecting the Services to GLOBAL. GLOBAL acknowledges that EDS shall provide the Services using such software, whether owned by EDS or others,
as EDS in its sole discretion determines appropriate for GLOBAL’s business requirements, so long as any change due to such determination has no adverse effect upon the business of GLOBAL or its customers. 
 

 

	3.5
	 
	EDS will (i) comply with (A) all state and federal laws and regulations which affect the Program, (B) applicable by-laws and regulations of VISA, Visa
International and MasterCard, and (c) EDS’ operating policies and procedures set forth in the Documentation. 
 

  

	3.6
	 
	EDS Account Executive. EDS shall assign to GLOBAL an EDS Account Executive who shall be responsible for directing all EDS activities affecting the
provision of information technology services hereunder. The EDS Account Executive shall also work with GLOBAL to establish priorities for the information technology services provided hereunder. 
 

  

	3.7
	 
	GLOBAL’s Rights to Use EDS Systems. EDS previously granted to GLOBAL a nonexclusive license to use the MAS System in the United States and a
non-exclusive license to use the distribution and exception processing system. Subject to the terms of such licenses, EDS Systems shall be and remain the property of EDS, and, subject to the licenses which may be granted pursuant to the License
Agreements, GLOBAL shall have no rights or interest therein, except as set forth in this Agreement or in the License Agreements. Immediately upon execution of this Agreement, EDS will provide the most current source code and object code versions of
the MAS System Software. At least nine (9) months before the termination of this Agreement in accordance with the terms hereunder, EDS will provide a copy of the then current source code and object code versions of the MAS System software and the
distribution and exception processing system software, including any updates, changes or modifications. Immediately upon termination of this Agreement, EDS will provide a copy in both the object code and source code versions of any updates, changes,
or modifications that have been made between the copy provided pursuant to the foregoing sentence and the termination of the license agreement. Further, GLOBAL shall keep confidential the Systems and shall not permit the Systems to be copied or
reproduced, used or transferred, in whole or in part, by or to any other person, firm, or corporation, at any time except as allowed hereunder or pursuant to the License Agreements. In the event GLOBAL violates this Section 3.9, EDS shall be
entitled to preliminary injunctive relief and other injunctive relief against any such violation. Such injunctive relief shall be in addition to, and in no way in limitation of, any and all remedies or rights to recover damages EDS shall have at law
or in equity for the enforcement of the above agreements. It is understood and agreed that the License Agreements shall apply not only to the Licensed Programs in their current form, but shall include all enhancements, modifications and derivative
works produced by EDS for processing GLOBAL’s accounts hereunder during the term of this Agreement but that GLOBAL shall own any enhancements, modifications, or derivative works which were developed by EDS specifically for GLOBAL or developed
by GLOBAL as enhancements or modifications to the MAS system and the distribution and exception processing system for the purpose of providing Services to GLOBAL hereunder. 
 

  

	3.8
	 
	Warranties. EDS warrants and represents that the EDS Systems will perform in accordance with the provisions of Section 3.5, the Service Levels, the
specifications set forth in this Agreement, the License Agreements, and the Documentation applying to such Systems. EDS warrants that its computer data integrity safeguards (such as access codes, passwords, and anti-virus programs) are consistent
with industry standards and comply with all of the guidelines and requirements of MasterCard, Visa, state, local and federal laws and government regulatory authorities supervising EDS, GLOBAL and GLOBAL’s customers and banks. EXCEPT AS
SPECIFICALLY PROVIDED HEREIN, EDS MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, TO GLOBAL OR TO ANY OTHER PERSON OR ENTITY REGARDING THE MERCHANTABILITY, SUITABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE OR OTHERWISE OF THE EDS
SYSTEMS OR ANY OF THEM, OR OF ANY INFORMATION TECHNOLOGY SERVICES OR MATERIALS PROVIDED HEREUNDER. 
 

 

 5 

  

	3.9
	 
	EDS Representations and Warranties. EDS hereby represents and warrants to GLOBAL that: 
 

  

	 	(a)
	 
	EDS is a corporation duly organized, validly existing and in good standing under the laws of Delaware. It has all requisite corporate power, franchises,
licenses, permits, and authority to carry on its business as such business has been and is being conducted currently. 
 

  

	 	(b)
	 
	EDS has all requisite corporate power and authority to enter into, execute, and deliver this Agreement and to perform its obligations hereunder. This Agreement
constitutes the valid and binding obligation of EDS enforceable in accordance with its terms, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other laws relating to or affecting the
enforcement of creditors’ rights and except that the remedy of specific performance and injunctive relief may be subject to equitable defenses and to the equitable discretion of the courts. 
 

  

	3.10
	 
	EDS Obligation to Fund Settlement. If, due to the failure of EDS to perform under this Agreement, GLOBAL does not receive funding through the MasterCard
and VISA interchange system in a timely fashion and GLOBAL is therefore unable to fund its settlement accounts, EDS hereby agrees to advance to GLOBAL funds sufficient for such purpose at no cost to GLOBAL until such time as GLOBAL does receive such
funds, whereupon GLOBAL will return such funds to EDS on the next Business Day. 
 

  

	3.11
	 
	Forms. GLOBAL will be responsible to provide all forms needed by GLOBAL hereunder. 
 

  
 ARTICLE IV. 
 GLOBAL OBLIGATIONS AND
REPRESENTATIONS 
  

	4.1
	 
	GLOBAL Obligations. In connection with the services provided by EDS hereunder, GLOBAL will, in addition to its other obligations hereunder, perform in a
timely manner the following obligations: 
 

  

	 	(a)
	 
	GLOBAL is solely responsible for determining what telecommunications lines and equipment, including terminals and control units, data lines, and any other
equipment, may be required for EDS to perform services hereunder. Once such determinations are made, GLOBAL shall arrange for procurement, operation, installation, and maintenance of such equipment at EDS’s facility or reimburse EDS for such
services at GLOBAL’s option. EDS shall be responsible for the connection of the telecommunication equipment to the EDS computer systems and implementation of required protocols. EDS shall support industry standard X25, TCP/IP, SNA and NDM file
transfer mechanisms. EDS shall cooperate in implementing new or revised protocols that become accepted and widely used during the contract period. EDS shall provide necessary local operational monitoring and cooperate in maintenance and installation
processes. All equipment provided by GLOBAL shall be compatible with EDS’s Systems. 
 

  

	 	(b)
	 
	GLOBAL will distribute, inspect, and review all reports created from information transmitted or delivered by EDS and reject all incorrect reports within ten
(10) Business Days after receipt thereof for daily reports and within ten (10) Business Days after receipt thereof for other than daily reports. Notwithstanding the foregoing time limits, GLOBAL shall promptly inform EDS of any errors, deficiencies,
or irregularities reflected in any such statements that GLOBAL discovers. Failure to so reject any report collected from such information shall constitute acceptance thereof. In the event GLOBAL does not meet the foregoing time limits, GLOBAL shall
pay EDS its cost of retrieval for any data GLOBAL requests. 
 

  

	 	(c)
	 
	GLOBAL will cooperate with EDS to accommodate any reasonable changes or modifications to the EDS Systems which may occur from time to time as long as those
changes do not adversely impact GLOBAL operations or GLOBAL’s customers. EDS will coordinate with GLOBAL before scheduling any system changes that have visibility to GLOBAL or its customers. EDS will reimburse Global for any reasonable costs or
lost time associated with these changes. 
 

  
 

 6 

  

	 	(d)
	 
	GLOBAL will (i) comply with (A) all state and federal laws and regulations which affect the Program, (B) applicable by-laws and regulations of VISA, Visa
International and MasterCard, and (c) EDS’ operating policies and procedures set forth in the Documentation, (ii) use written material, advice and technical information provided by EDS in connection with the Program, (iii) be solely responsible
for all collections of its accounts receivable, (iv) except due to EDS’ nonperformance, negligence or intentional wrongdoing, bear all losses from uncollected accounts receivable, all costs or expenses incurred in connection with the collection
of accounts, and costs or expenses incurred in connection with accounts with respect to which there is any controversy, claim, or dispute, and (v) arrange for such action as may be appropriate or necessary because of misuse or abuse in the use of
any account opened or accepted by it, and other terms and conditions applicable to transactions effected through it. 
 

  

	 	(e)
	 
	GLOBAL is responsible for the quality and accuracy of all data input to EDS and will insure that such data are organized in the proper input sequence and format
as specified in writing by EDS and mutually agreed by GLOBAL. Any data submitted by GLOBAL or by any of GLOBAL’s customers for processing which are incorrect, illegible, or otherwise not in proper form may be, at EDS’ option, returned to
GLOBAL for correction before processing. In the event GLOBAL or its customer fails to furnish its data to EDS in the form and in accordance with the schedule agreed upon, EDS will use all reasonable efforts to reschedule and process the work as
promptly as possible, it being understood that all expenses to EDS occasioned by such failure will be borne by GLOBAL. Notwithstanding the foregoing, this paragraph shall not be applicable for the six months immediately following the Effective Date,
and during such time EDS shall give GLOBAL reasonable assistance in complying with this paragraph. 
 

  

	 	(f)
	 
	In the event that GLOBAL merges or consolidates with any other person or entity, the result of which is that GLOBAL is not the surviving entity, the obligations
and liabilities under this Agreement shall survive and be binding upon EDS and such successor with respect to the Services then being provided by EDS. In the event GLOBAL assumes additional processing business requiring Base Services, as soon as
practicable consistent with the terms of Section 3.1.1 hereof and any data processing contracts that GLOBAL is required to assume in connection with such acquisition, EDS shall provide the Base Services therefore and any Other Services as reasonably
requested by GLOBAL. 
 

  

	 	(g)
	 
	GLOBAL will be responsible for conducting a training program adequate to train its employees in the use and operation of the EDS Systems and Services. GLOBAL
will cooperate with EDS in the scheduling of such training consistent with the conversion of GLOBAL’s accounts to the EDS Systems. 
 

  

	 	(h)
	 
	GLOBAL will be solely responsible for providing EDS with the information regarding the BINS and ICAs used to settle all accounts to be processed by EDS under
this Agreement as reasonably necessary for EDS to process hereunder. 
 

  

	 	(i)
	 
	Subject to the exceptions described in Section 3.1.1, GLOBAL shall purchase from EDS all third party provided Base Services requirements of GLOBAL during the
term of this Agreement. 
 

  

	4.2
	 
	GLOBAL Account Executive. GLOBAL shall designate the GLOBAL Account Executive who shall be responsible for directing, insofar as EDS is concerned, all
activities of GLOBAL affecting the provision of information technology services hereunder. The GLOBAL Account Executive shall also work with EDS to establish GLOBAL priorities for the information technology services provided hereunder. 

  

	4.3
	 
	GLOBAL Representations and Warranties. GLOBAL hereby represents and warrants to EDS that: 
 

  

	 	(a)
	 
	GLOBAL is a limited liability company duly organized, validly existing and in good standing under the laws of Georgia. It has all requisite corporate power,
franchises, licenses, permits, and authority to carry on its business as such business has been and is being conducted currently. 
 

 

 7 

  

	 	(b)
	 
	GLOBAL has all requisite corporate power and authority to enter into, execute, and deliver this Agreement and to perform its obligations hereunder. This
Agreement constitutes the valid and binding obligation of GLOBAL enforceable in accordance with its terms, except as enforcement hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other laws relating to or
affecting the enforcement of creditors’ rights and except that the remedy of specific performance and injunctive relief may be subject to equitable defenses and to the equitable discretion of the courts. 
 

 
 ARTICLE V. 
 PAYMENTS TO EDS

  

	5.1
	 
	Transaction Payments. For each month during the term of this Agreement, GLOBAL shall pay EDS the transaction charges for Base Services as specified in
Schedule A hereto. 
 

  

	5.2
	 
	Charges for Other Services. Upon receipt by EDS of a request by GLOBAL for Other Services, EDS shall so advise GLOBAL of the charges therefore unless
such charges are provided on Schedule A. Upon GLOBAL’s agreement to pay such charges, EDS shall provide the requested Other Services in accordance with Section 3.2 hereof. EDS shall not have the right to increase any of the prices on
Schedule A during the term of this Agreement except that pass throughs (including but not limited to the compensation for the Dedicated SE’s used to provide Services hereunder) will increase or decrease depending on the actual costs
incurred GLOBAL shall pay for all such Other Services on a calendar month basis. 
 

  

	5.3
	 
	Reruns. GLOBAL shall pay the reasonable charges of EDS for reruns necessitated by incorrect or incomplete data or erroneous instructions supplied to EDS
by GLOBAL or its customers or agents, and for correction of programming, operator, and other processing errors caused by GLOBAL, its employees, customers or agents. 
 

  

	5.4
	 
	Payment. 
 

  

	 	(a)
	 
	All amounts payable to EDS pursuant to this Agreement shall be paid by electronic funds transfer to EDS from GLOBAL’s account at the Bank designated for
such purpose. EDS will provide GLOBAL a monthly invoice and GLOBAL within five (5) days shall authorize a wire transfer of all undisputed sums due under such invoice. 
 

  

	 	(b)
	 
	Any amount due EDS hereunder for which a time for payment is not otherwise specified shall be due and payable within thirty (30) days after receipt by GLOBAL of
an invoice therefore from EDS. 
 

  

	 	(c)
	 
	Any amount due EDS hereunder that is not paid when due shall thereafter bear interest until paid at a rate of interest equal to the lesser of eighteen percent
(18%) per annum determined on a three hundred sixty (360) day year or the maximum non-usurious rate of interest allowed by applicable law. 
 

  

	 	(d)
	 
	Once the bank accounts are separated, in the event EDS submits an incorrect invoice it shall only have 90 days to correct it or GLOBAL shall be entitled to rely
on such invoice as being correct. 
 

  

	5.5
	 
	Taxes. There shall be added to any charges under this Agreement, and GLOBAL shall pay to EDS, amounts equal to any taxes, however designated or levied,
based upon such charges, or upon this Agreement, including state and local privileges or excise taxes based on gross revenue, sales and use taxes, and any taxes or amounts in lieu thereof paid or payable by EDS in respect of the foregoing,
exclusive, however, of franchise taxes and taxes based on the net income of EDS. 
 

  

	5.6
	 
	Termination Fee. 
 

  

	 	(a)
	 
	In the event that EDS terminates this Agreement pursuant to Sections 7.2(c), 7.3, or 7.4 hereof or that GLOBAL terminates this Agreement in breach of Section
7.2(a) hereof, the parties agree that
 
 

 

 8 

	 	
EDS’s damages resulting from the breach will be difficult if not impossible to ascertain. Such damages may include without limitation deconversion costs, personnel and administrative costs,
dedicated computer time, equipment, office space, supplies, printing and microfiche costs, telecommunications, audit costs, training costs, software, damages to contracts and leases with third parties, lost profits, and maintenance costs.

 

  

	 	(b)
	 
	If EDS terminates this Agreement pursuant to Section 7.2(c), 7.3, or 7.4 hereof or if GLOBAL terminates this Agreement in breach of Section 7.2(a) hereof, then
in lieu of all other damages to which EDS may be entitled, except for payment obligations for information technology services already provided hereunder (or that EDS may continue to provide), which shall be an additional cost, GLOBAL shall (subject
to Section 5.6(e) remit to EDS within thirty (30) days of the date of the termination a termination fee equal to the sum of the following: 
 

  

	 	(i)
	 
	One Hundred Twenty-Five percent (125%) of the reasonable costs (both out-of-pocket and internal) of EDS incurred in connection with such termination; and

 

  

	 	(ii)
	 
	(x) If termination occurs prior to the end of five years following the Installation Date, Twenty-Five percent (25%); or (y) thereafter, twelve-and-one-half
percent (12.5%) of the revenues EDS would have received in the absence of such termination, which revenues shall be calculated by multiplying (A) the average of the monthly revenues received by EDS pursuant to this Agreement in the preceding six (6)
months, by (B) the number of months remaining before the Expiration Date. 
 

  

	 	(c)
	 
	If GLOBAL terminates this Agreement pursuant to Sections 7.2(b) or 7.4(b) hereof, or if EDS terminates this Agreement in violation of Section 7.2(a) hereof,
then, in addition to all other damages suffered by GLOBAL and recoverable under this Agreement, which shall be an additional cost, EDS shall remit to Global within thirty (30) days after receipt of GLOBAL’s invoice, a termination fee equal to
one hundred twenty-five percent (125%) of all reasonable costs incurred by GLOBAL in connection with the termination of services hereunder and the conversion to another source of comparable services. 
 

  

	 	(d)
	 
	The termination fees provided for herein are hereby agreed by the parties hereto to be a reasonable amount of liquidated damages to compensate EDS for its
termination expenses, lost profits, and all other damages under the circumstances in which such termination fees would be payable. 
 

  

	 	(e)
	 
	Notwithstanding anything contained in this Agreement to the contrary, in the event this Agreement is terminated in accordance with its terms (other than
termination by EDS as the result of a breach of this Agreement by GLOBAL for non-payment) prior to the expiration of the initial five (5) year term, EDS shall pay GLOBAL the amount described in Schedule C. 
 

 

	5.9
	 
	Direct Settlement. No later than 180 days after GLOBAL’s last transaction is processed through the Key Bank settlement account—EDS will
close the bank account and any trailing activity related to GLOBAL will be the responsibility of GLOBAL, the member institutions and the appropriate card companies.  
 

  

ARTICLE VI. 
 SAFEGUARDING OF GLOBAL DATA, CONFIDENTIALITY, AND AUDIT RIGHTS

  

	6.1
	 
	Ownership and Use of Data. GLOBAL’s data (which shall include any data of GLOBAL, its parents, direct and indirect affiliates, direct and indirect
subsidiaries and all of their customers held, maintained, or processed by GLOBAL or EDS)shall remain GLOBAL’s property. Immediately upon termination of this Agreement (provided that GLOBAL shall have paid to EDS all amounts owing hereunder) or,
with respect to any particular data, on such earlier date that EDS reasonably determines that it no longer requires the data in order to render services hereunder, EDS shall, at the written direction of GLOBAL, either erase
 
 

 

 9 

	 	
such data from the data files maintained by EDS or return the data to GLOBAL. EDS shall not utilize GLOBAL’s data for any purpose other than for rendering services to GLOBAL under this
Agreement. 
 

  

	6.2
	 
	Safeguarding Data Integrity. EDS will maintain internal computer data integrity safeguards (such as access codes, passwords and anti-virus programs) to
protect against the deletion or alteration of GLOBAL’s data in the possession of EDS consistent with those that are from time to time generally applicable to EDS information processing centers. Upon payment by GLOBAL of any fees that EDS
incurs, EDS shall provide such additional internal computer data integrity safeguards as GLOBAL reasonably requests. 
 

  

	6.3
	 
	EDS System Ownership. GLOBAL acknowledges that, except pursuant to the terms of the License Agreement and this Agreement, the Systems, including computer
programs, documentation, forms, and other system materials used by EDS to provide the Services, are the proprietary information and trade secrets of EDS or, with respect to Systems licensed by third party licensors, such licensors, and any
disclosure thereof to third parties will result in substantial monetary loss and irreparable damage to EDS. Accordingly, GLOBAL agrees not to disclose such materials to any third party, and to treat the same confidentially and to safeguard them
using the same care and discretion which GLOBAL uses with materials it regards as confidential. Except as otherwise provided herein and in the License Agreements, all computer tapes, disks, programs, specifications, and enhancements developed in
connection with the Services are and shall remain at all times during and after the term of this Agreement the exclusive property of EDS, and GLOBAL hereby assigns all its rights, title, and interest, if any, in such tapes, disks, programs,
specifications and enhancements to EDS. 
 

  

	6.4
	 
	Confidentiality. 
 

  

	 	(a)
	 
	Except as otherwise provided herein, EDS and GLOBAL each agree that all confidential information and trade secrets communicated to it by the other, whether
before or after the Effective Date, shall be and were received in strict confidence, shall be used only for purposes of this Agreement, and that no such information shall be disclosed by the recipient party, its agents or employees without the prior
consent of the other party, except as may be necessary by reason of legal, accounting, or regulatory requirements beyond the reasonable control of the recipient party. The provisions of this Section 6.4 shall survive termination of this Agreement
for any reason. 
 

  

	 	(b)
	 
	In the event that GLOBAL’s data or the EDS Systems or any part thereof should come into the possession of one or more unauthorized third parties as a
result of a breach of this Article VI, the breaching party shall, at its own expense, use its best efforts to retrieve such data or systems and, in any event, shall reimburse the non-breaching party for all reasonable expenses incurred in connection
with its retrieval efforts. In addition to any remedies the non-breaching party may have, including without limitation remedies set forth in this Agreement, the non-breaching party shall be entitled to appropriate injunctive relief against the
breaching party and to prevent any other or further unauthorized use or disclosure thereof or to require the return thereof and shall be entitled to recover from the breaching party reasonable attorney’s fees and other costs of obtaining such
injunctive relief, it being stipulated that such breach would cause irreparable harm to the non-breaching party for which no adequate remedy at law exists. 
 

  

	 	(c)
	 
	The obligations imposed upon either party in this Section 6.4 shall not apply to Information: 
 

  

	 	(1)
	 
	which becomes available to the public through no wrongful act of the receiving party; or 
 

  

	 	(2)
	 
	which may be published prior to the date hereof, or 
 

  

	 	(3)
	 
	which is already in the possession of the receiving party and not subject to an existing agreement of confidence between the parties; or 

 

 10 

  

	 	(4)
	 
	which is received from a third party without restriction and without breach of this Agreement; or 
 

  

	 	(5)
	 
	which is independently developed by the receiving party; or 
 

  

	 	(6)
	 
	which is disclosed pursuant to a requirement or request of a government agency or a court of competent jurisdiction. 
 

  

	6.5
	 
	Security. 
 

  

	 	(a)
	 
	EDS will employ controlled access systems, twenty-four hour on-site personnel, and alarm systems in EDS locations in which services are performed hereunder by
EDS for GLOBAL. 
 

  

	 	(b)
	 
	Except as provided in Section 6.6 hereof, without the prior consent of EDS, no employee, agent, contractor, or invitee of GLOBAL shall operate or assist in
operating equipment or Systems to be utilized by EDS hereunder, or enter any room where any such equipment or Systems are located. Employees, agents, contractors, and invitees of EDS shall comply with the reasonable rules of GLOBAL with respect to
access to GLOBAL’s offices, data and data files. 
 

  

	6.6
	 
	Audit Rights. EDS shall provide GLOBAL’s internal and external auditors and any inspectors or agents from any bank or regulatory body exercising
jurisdiction over banks or customers served by GLOBAL’s business, copies of all third party audits and examination reports (excluding those prepared by regulatory examiners) and grant such auditors, inspectors or agents reasonable access to
visit the data centers from which EDS provides Services hereunder for the purpose of performing audits or inspections of GLOBAL or any bank or customer served by GLOBAL. EDS will provide to such auditors, inspectors, and agents all such assistance
as they may reasonably require, rendered in connection with any such audit or inspection. For extraordinary assistance, GLOBAL shall pay EDS at EDS’ then current commercial billing rates for similar services. 
 

 

	6.7
	 
	Contingency Planning. The parties’ responsibilities with respect to contingency planning will be as follows: 
 

 

	 	(a)
	 
	EDS will develop, maintain and, as necessary in the event of a disaster, execute a disaster recovery plan (the “EDS Plan”) for the EDS location from
which EDS provides Services hereunder (the “EDS Data Center”) and will provide to GLOBAL and its auditors and inspectors such access to the EDS Plan as GLOBAL may reasonably request from time to time. EDS will not be required to provide
access to information of other EDS customers. EDS will test the EDS Plan at least once every twelve (12) months and provide GLOBAL with a copy of the SAS 70 report showing the results of such test. 
 

  

	 	(b)
	 
	GLOBAL will develop, maintain and, as necessary in the event of a disaster, execute a business resumption plan (the “GLOBAL Plan”) for the GLOBAL
locations and the telecommunications links between the GLOBAL locations and the EDS Data Center relating to the contracts and business being acquired by GLOBAL from EDS under the Purchase Agreement and will provide to EDS such access to the GLOBAL
Plan as EDS may reasonably request from time to time. 
 

  

	 	(c)
	 
	EDS will provide to GLOBAL such information as may be reasonably required for GLOBAL to assure that the GLOBAL Plan is compatible with the EDS Plan. Each party
will reasonably cooperate with the other to comply with each other’s Plan. 
 

  

	 	(d)
	 
	Each party will be responsible for the training of its own personnel as required in connection with all applicable contingency planning activities.

 

  

	 	(e)
	 
	Each party’s contingency planning activities will comply, as appropriate, with such of the following regulatory policies as may be applicable to
GLOBAL’s business, as the same may be amended or replaced from time to time: 
 

  
 Federal
Deposit Insurance Corporation Bank Letter BL-22-88 dated July 14, 1989 
 

 11 

  

	 	Federal
	 
	Reserve System Supervision and Regulation Number SR-89-16 dated August 1, 1989 
 

  

	 	Office
	 
	of the Comptroller of the Currency Banking Circular Number BC 177 dated July 12, 1989 
 

  

	 	Office
	 
	of Thrift Supervision Bulletin Number TB30 dated July 19, 1989 
 

  
 If compliance with any amendments or replacements of the policies listed above would significantly increase or decrease EDS’ cost of providing Services, the parties
shall review the pricing hereunder. 
  
 ARTICLE VII. 
 TERMINATION 
  

	7.1
	 
	Dispute Resolution. In the event of any dispute, controversy, or claim with respect to the interpretation of any provision of this Agreement or the
performance by EDS or by GLOBAL hereunder, the following procedures will be followed: 
 

  

	 	(a)
	 
	Upon the written request of either parry, each of the parties will appoint a representative who does not devote substantially all of his or her time to
performance under this Agreement, whose task it will be to meet for the purpose of endeavoring to resolve such dispute. The representatives will meet for the purpose of negotiating in good faith to resolve such dispute without resort to formal
proceedings. During the course of such negotiation, the parties will comply with all reasonable requests for access to relevant information. Mediation of such dispute, controversy, or claim in accordance with Section 7.1 (b) may not be commenced
until the earlier of (i) both representatives concluding in good faith that amicable resolution through continued negotiation of the matter in issue does not appear likely, or (ii) forty-five (45) days after the initial request to negotiate such
dispute. All discussions and negotiations between such representatives shall be deemed privileged and confidential communications and accorded full privilege as if made through each party’s attorneys. 
 

  

	 	(b)
	 
	Any dispute, controversy, or claim which relates in any way to this Agreement and which has not been resolved by the parties using the informal dispute
resolution process described in Section 7.1(a) above shall be referred for mediation to a mediator selected from the list of qualified mediators maintained by the association of attorney mediators in the locale agreed upon by the parties for the
conduct of such mediation, which mediator shall be selected by mutual consent of the parties. Such mediation shall not be binding upon the parties unless the parties agree in writing to any settlement arising from such mediation. Costs of the third
party conducting the mediation shall be borne equally by the parties. The fact that mediation has or may be commenced shall not impair the exercise of any termination rights in accordance with the provisions of this Agreement. 

  

	7.2
	 
	Termination for Cause. 
 

  

	 	(a)
	 
	Except as provided in Section 7.2(b) and 9.7 of this Agreement, neither EDS nor GLOBAL shall terminate this Agreement prior to the Expiration Date.

 

  

	 	(b)
	 
	In the event that EDS shall materially default in the performance of any of its duties or obligations hereunder, which default shall not be substantially cured
within twenty (20) Business Days after notice is given to EDS specifying the default, then GLOBAL may, by giving notice thereof to EDS, terminate this Agreement for cause as of a date specified in such notice of termination. 

  

	 	(c)
	 
	In the event that GLOBAL shall materially default in the performance of any of its duties or obligations hereunder (except for a default in payments to EDS),
which default shall not be substantially cured within twenty (20) Business Days after notice is given to GLOBAL specifying the default, then EDS may, by giving notice thereof to GLOBAL, terminate this Agreement for cause as of a date specified in
such notice of termination. In the event that GLOBAL materially
 
 

 

 12 

	 	
defaults in performance of any of its duty hereunder and EDS elects to terminate the Agreement in accordance with the provisions hereof, EDS shall be entitled to the same liquidated damages EDS
would be entitled under Section 5.8 if GLOBAL had terminated this Agreement before the Expiration Date. 
 

  

	7.3
	 
	Termination for Nonpayment. In the event that GLOBAL defaults in the payment when due of any amount due to EDS hereunder and does not cure such default
within ten (10) Business Days after being given notice of such default, then EDS may, by giving notice thereof to GLOBAL, terminate this Agreement as of a date specified in such notice of termination. 
 

  

	7.4
	 
	Termination for Insolvency. 
 

  

	 	(a)
	 
	In the event that GLOBAL becomes or is declared insolvent or bankrupt, is the subject of any proceedings related to its liquidation, insolvency, or for the
appointment of a receiver, conservator, or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors, or enters into an agreement for the composition, extension, or readjustment of all or substantially
all of its obligations, then the liquidator, trustee, receiver, conservator, new owner, manager, or other agent or representative shall have sixty (60) days to notify EDS that it is terminating the Agreement as of a date within such sixty (60) day
period. If EDS is not so notified, this Agreement shall not be terminated, but shall continue on all of the terms and conditions stated herein, including, without limitation, the payment terms specified in Article V. All services provided to GLOBAL
by EDS pursuant to this Agreement shall be deemed to be administrative expenses in the event of GLOBAL’s insolvency or bankruptcy or the appointment of a receiver, conservator, or similar officer for GLOBAL. 
 

 

	 	(b)
	 
	In the event that EDS becomes or is declared insolvent or bankrupt, is the subject of any proceedings related to its liquidation, insolvency, or for the
appointment of a receiver, conservator, or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors, or enters into an agreement for the composition, extension, or readjustment of all or substantially
all of its obligations, then the liquidator, trustee, receiver, conservator, new owner, manager, or other agent or representative shall have sixty (60) days to notify EDS that it is terminating the Agreement as of a date within such sixty (60) day
period. If GLOBAL is not so notified, this Agreement shall not be terminated, but shall continue on all of the terms and conditions stated herein, including, without limitation, the payment terms specified in Article V. 

  

	7.5
	 
	Rights Upon Termination. Upon termination of this Agreement and payment in full of all amounts due EDS from GLOBAL, EDS shall provide all of
GLOBAL’s master files in its possession to GLOBAL in the machine-readable format and on media of EDS’ choice. Subject to the provisions of the License Agreement, GLOBAL shall promptly return to EDS all copies of the EDS System and
documentation of the EDS System in GLOBAL’s possession and completely erase the EDS System and all elements thereof from its computer system and, upon EDS’ request, shall execute and deliver to EDS a written certification that GLOBAL has
complied with the provisions of this Section 7.5 and no longer retains any material relating to the EDS System. 
 

  
  ARTICLE VIII. 
 INDEMNITIES AND LIABILITY 
  

	8.1
	 
	Cross Indemnity. EDS and GLOBAL each agree to indemnify, defend and hold harmless the other from any and all claims, actions, damages, liabilities,
costs, and expenses, including without limitation reasonable attorneys’ fees and expenses, arising out of (i) death or bodily injury of any agent, employee, customer, business invitee or business visitor of the indemnitor, or (ii) the damage,
loss or destruction of any property (other than GLOBAL data) of the indemnitor. 
 

  

	8.2
	 
	Correcting Defects. In the event that any services provided to GLOBAL are inaccurate, incomplete, incorrect, or otherwise defective due primarily to
EDS’ fault or negligence, EDS shall, at GLOBAL’s option, either correct such defect without charge to GLOBAL or effect an equitable reduction of the price paid or payable
 
 

 

 13 

	 	
for the services to which such defect relates, provided that EDS has received written notice of such defect from GLOBAL within twenty (20) Business Days from the date of which the GLOBAL become
aware of, or should have become aware of, such defect. 
 

  

	8.3
	 
	Limitation of Liability. Except as provided in Sections 3.12, 8.1 or 8.4, in the event EDS shall be liable to GLOBAL on account of EDS’ performance
or nonperformance of its obligations under this Agreement, whether arising by negligence, willful misconduct, or otherwise, (a) the amount of damages recoverable against EDS for all events, acts, or omissions shall not exceed an amount equal to the
lesser of (i) twelve (12) times the aggregate monthly compensation payable by GLOBAL to EDS pursuant to Section 5.1 hereof for the month preceding the month in which such damages first arose, or (ii) Ten Million Dollars ($10,000,000.00) and (b) the
measure of damages shall not include any amounts for indirect, consequential, or punitive damages of any party, including third parties. Further, no cause of action which accrued more than three (3) years prior to the filing of a suit alleging such
cause of action may be asserted by either party against the other. In connection with the conduct of any litigation with third parties relating to any liability of EDS to GLOBAL or GLOBAL to EDS or to such third parties, EDS and GLOBAL,
respectively, shall have all rights (including the right to accept or reject settlement offers and to participate in such litigation) which are appropriate to its potential responsibilities or liabilities. 
 

  

	8.4.
	 
	Infringement Indemnity. EDS and Global each shall indemnify, defend, and hold harmless the other from and against any and all claims, actions, damages,
liabilities, costs, and expenses, including reasonable attorneys’ fees and expenses, arising out of any claim or claims of infringement by the indemnitor of any United States letters patent, trade secret, copyright, trademark, service mark,
trade name, or similar proprietary right conferred by common law or any law of the United States or any state alleged to have occurred because of action taken or not taken by the indemnitor. 
 

  

	8.5
	 
	Procedures. The indemnification obligations set forth in this Section 8 will not apply unless the party claiming indemnification: (i)
notifies the other promptly in writing of any claims in respect of which the indemnity may apply and of which the notifying party has knowledge in order to allow the indemnitor the opportunity to investigate and defend the matter; provided,
however, that the failure to so notify will only relieve the indemnitor of its obligations under this Section 8 if and to the extent that the indemnitor is prejudiced thereby; and (ii) gives the other party full opportunity to control
the response thereto and the defense thereof, including any agreement relating to the settlement thereof; provided, however, that the indemnitee will have the right to participate in any legal proceeding to contest and defend a claim
for indemnification involving a third party and to be represented by legal counsel of its choosing, all at the indemnitee’s cost and expense. However, if the indemnitor fails to promptly assume the defense of the claim, the party entitled to
indemnification may assume the defense at the indemnitor’s cost and expense. The indemnitor will not be responsible for any settlement or compromise made without its consent, unless the indemnitee has tendered notice and the indemnitor has then
refused to assume and defend the claim and it is later determined that the indemnitor was liable to assume and defend the claim. The indemnitee agrees to cooperate in good faith with the indemnitor at the request and expense of the indemnitor.
 
 

  
 ARTICLE IX. 
 MISCELLANEOUS 
  

	9.1
	 
	Right of EDS to Perform Services for Others. EDS may perform data processing services for third parties at any EDS information processing center that EDS
may utilize for processing GLOBAL’s data provided that EDS does not violate any non-compete provision contained in the Asset Purchase Agreement. 
 

  

	9.2
	 
	Hiring of Employees. During the term of this Agreement and for a period of 12 months thereafter, neither party will solicit, directly or indirectly, for
employment or employ any employee of the other (including an employee of a parent, direct or indirect affiliate, or direct or indirect subsidiary of either party) who is or was involved in the performance of such party’s obligations hereunder
without the prior written consent of the other. 
 

 

 14 

  

	9.3
	 
	Notices. All notices under this Agreement will be in writing and will be deemed to have been duly given if delivered personally or by a nationally
recognized courier service, faxed or mailed by registered or certified mail, return receipt requested, postage prepaid, or by regular mail to the parties at the addresses set forth below. All notices under this Agreement that are addressed as
provided in this Agreement, (a) if delivered personally or by a nationally recognized courier service, will be deemed given upon delivery, (b) if delivered by facsimile, will be deemed given when confirmed as having been received by the receiving
party (c) if delivered by mail in the manner described above, will be deemed given on the fifth business day after the day it is deposited in a regular depository of the United States mail, and (d) if delivered by regular mail, will be deemed given
upon actual receipt by the receiving party. Either party may change its address or designee for notification purposes by giving notice to the other of the new address or designee and the date upon which such change will become effective. In the case
of EDS: 
 

  
 Electronic Data Systems Corporation 
 5400 Legacy Drive 
 Plano, Texas 75024 
  
 Attn: General Manager – Financial Process Management 
  
 With a copy to: 
  
 Electronic Data Systems Corporation 
 5400 Legacy Drive 
 Plano, Texas 75024 
  
 Attn: EDS LEGAL AFFAIRS DEPARTMENT 
  
 In the case of GLOBAL: 
  
 GLOBAL PAYMENT SYSTEMS, LLC 

4 Corporate Square 
 Atlanta, Georgia 30329-2010 
 Attention: Corporate Secretary 
  
 Either party may from time to time change its address for notification purposes by giving the other prior notice of the new address and the date upon which it will become effective. 
  

	9.4
	 
	Counterparts. This Agreement may be executed in one or more counterparts for the convenience of the parties hereto, all of which taken together shall
constitute one single agreement between the parties hereto. 
 

  

	9.5
	 
	Relationship of Parties. EDS, in furnishing services to GLOBAL hereunder, is acting only as an independent contractor. EDS does not undertake by this
Agreement or otherwise to perform any obligation of GLOBAL, whether regulatory or contractual, or to assume any responsibility for GLOBAL’s business or operations. EDS has the sole right and obligation to supervise, manage, contract, direct,
procure, perform or cause to be performed, all work to be performed by EDS hereunder unless otherwise provided herein. 
 

  

	9.6
	 
	Notices, Approvals and Similar Actions. Where notice, agreement, approval, acceptance, consent or similar action by either party hereto is permitted or
required by any provision of this Agreement, such action shall not be effective unless in writing signed by the party against whom such action is sought to be enforced. All requests and designations hereunder shall not be effective unless in
writing. Any approval required by any provision of this Agreement shall be readily forthcoming unless the party whose consent is required shall state in writing a valid business reason for withholding such consent. 
 

 

	9.7
	 
	Force Majeure. Each party hereto shall be excused from performance hereunder for any period and to the extent that it is prevented from performing any
action pursuant hereto, in whole or in part, as a result of delays caused by the other party or an act of God, war, civil disturbance, court order, labor dispute, act, omission or failure to perform by a third party (other than EDS’
subcontractors performing Services hereunder), or other cause beyond its reasonable control, including without limitation failures or fluctuations
 
 

 

 15 

	 	
in electrical power, heat, light, air conditioning or telecommunications equipment. Such nonperformance shall not be a default hereunder or a ground for termination hereof; provided, however,
that if any non-performance due to force Majeure shall extend beyond thirty (30) days, the other party may, in its sole discretion, either (i) terminate this Agreement upon not less than fifteen (15) days prior written notice, or (ii) suspend
performance hereunder and obtain substitute services until such time as the non-performance is remedied. 
 

  

	9.8
	 
	Waiver. A waiver by either of the parties hereto of any of the covenants to be performed by the other or any breach thereof shall not be construed to be
a waiver of any succeeding breach thereof or of any other covenant herein contained. 
 

  

	9.9
	 
	Media Releases. All media releases, public announcements and public disclosures by any party hereto relating to this Agreement or its subject matter,
including without limitation promotional or marketing material, but not including any announcement intended solely for internal distribution or any disclosure required by legal, accounting or regulatory requirements beyond the reasonable control of
such party, shall be coordinated with and approved in writing by the other party hereto prior to the release thereof, which approval shall not be unreasonably withheld, conditioned or delayed. 
 

  

	9.10
	 
	Entire Agreement. This Agreement, including any Schedules and Exhibits referred to herein and attached hereto, each of which is incorporated herein for
all purposes, constitutes the entire agreement between the parties hereto with respect to the subject matter hereof as of the Effective Date and there are no representations, understandings or agreements relative hereto which are not fully expressed
herein. 
 

  

	9.11
	 
	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 
 

 

	9.12
	 
	Assignment. Neither party hereto may assign any rights or delegate its obligations hereunder without consent from the other, which consent may not be
unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, GLOBAL shall have the right to assign this Agreement to a successor in interest to all or a substantial portion of its business. 
 

 

	9.13
	 
	Amendment. This Agreement may be amended, supplemented, and terminated only by a written instrument duly executed by both GLOBAL and EDS. 

  
 IN WITNESS WHEREOF, EDS and GLOBAL have each caused this Agreement to be signed and delivered by its duly authorized officer, all
as of the date fast set forth above. 
  
 
	 ELECTRONIC DATA SYSTEMS CORPORATION
  
 By:                 /s/   MARTHA J.
HULSE
 
Name:    Martha J. Hulsa
 Title:      General Manager,
                 Financial Process Management
 	 	 GLOBAL PAYMENT SYSTEMS, LLC
  
 By: GPS Holding Limited Partnership, member
  
 By:                  /s/  SUELLYN P. TORNAY
 
Name:    Suellyn P. Tornay
 Title:      General Counsel
 
	 
	  	 	 By:    Global Payments Inc., its General partenr
  
 By:                 
/s/  SUELLYN P. TORNAY
 
Name:    Suellyn P. Tornay
 Title:      Secretary
 

 
  
 

 16 

  
 Schedule A 
 Pricing & Services 
  
 EDS will provide processing services to Global Payment Systems (GPS) in the following
areas: 
  

	·
	 
	Merchant data processing 
 

  

	·
	 
	Professional services 
 

 Prices for the
services are bundled. EDS will invoice for the Base Services based on the price volume of one bill code in each bundle. Miscellaneous Services are priced separately and EDS will invoice for these based on the volume and price of each bill code.
Definitions of Base Services, Professional Services, Pass Through items, and their prices are discussed on the following pages. 
  

	·
	 
	Neuraltech (Cadre) 
 

 The EDS Network
processing system will be able to extract all incoming chargeback and retrieval activity for agreed upon portfolios and customers, including but not limited to Merchant Accounting Corporate 055, 057 and 027. Data for Visa, MasterCard and Diners Club
is extracted and transmitted to Global in Maryland each time incoming data is received from the respective credit card association. EDS Network processing system will be able to process all outgoing Chargeback and Retrieval activity for agreed upon
portfolios and customers, including but not limited to, Merchant Accounting Corporate 055, 057, and 027, which is transmitted form the Global “Cadre” Exceptions Processing system in Maryland once daily, Monday through Saturday. Data for
VISA, MasterCard and Diners Club is processed through association provided “Edit” software and transmitted to each card association. The EDS Network system also transmits a daily extract of all acquired settlement and authorization
transactions for Merchant Accounting Corporate 055 and 027 to the Global in Maryland site. This transmission occurs Monday through Friday after the evening distribution process. 
  

	·
	 
	Merchant Fraud Reporting System 
 

 Provides user parameter driven Fraud Management system (FMS) as part of the Merchant Accounting System (MAS). This subsystem examines clearing transactions, authorization transactions, and chargebacks settled to a merchant through
the EDS Merchant Accounting System (MAS) for fraudulent activity. The subsystem optionally allows a customer to examine transactions for fraud with an online facility or report. The online facility availability is the same as the contractual MAS
availability. Batch processing to load FMS with available activity will occur at mutually agreed upon times. 
  

	·
	 
	Online Fiche Retention 
 

  
 EDS will provide services as described below: 
  
 o    Eliminate EDS
retained copies of fiche and replacing them with online SAR retention 
 o    Maintain twelve months within the existing SAR system of
reports defined for fiche generation’ 
 o    Fiche reruns will be provided within 30 days of initial generation 
 o    No change to the generation of fiche originals or to the current distribution to Global’s customers 
  

	·
	 
	EPS Archive 
 

  
 EDS will
provide software and services as described below; 
 

 1 

  

	 	o
	 
	Outside normal transaction processing for non EDS Exceptions Processing (EPS) system users, EDS will warehouse VISA, MasterCard and Diners transactions on the
EPS transaction archive table for the Global mutually agreeable customers and portfolios, including but not limited to Merchant Accounting Corporate 055, 057, and 027. The retention period of data will be six months. 
 

Base Price 
  
 Ticket posting fee will be assessed on monthly NDC
merchant portfolio transaction (TXNS) Volumes as follows: 
  
 
	 Price Per Settled and
 Non-settled TXNS
 
	  	 Monthly Settled &
 Non-Settled TXNS  
 

	 $0.0027
 	  	 up to 106,082,166
 
	 $0.0024
 	  	 106,082,167 to 131,082,000
 
	 $0.0023
 	  	 131,082,001 to 147,748,833
 
	 $0.0022
 	  	 147,748,834 to 164,415,500
 
	 $0.0021
 	  	 164,415,501 and up
 

 
  

	·
	 
	A settled transaction is one that EDS introduces into interchange and monetary settlement occurs as a result. They include but are not limited to sales, cash
advances, credits, reversals, and batch headers (M810). A non-settled transaction is memo posted to EDS’ Merchant Accounting Systems (MAS), is not introduced into interchange, and settlement occurs independent of EDS (M830, M831, and MT 600).

 

  
 Services Included in Base Price 
  

	·
	 
	Merchant Account on File 
 

	·
	 
	Additional Merchant Outlet on File 
 

	·
	 
	Merchant Transaction Posting 
 

	·
	 
	Merchant Tape Entry Processing 
 

	·
	 
	Merchant Transmission Entry Processing 
 

	·
	 
	Merchant Reject Processing – both front-end and back-end 
 

	·
	 
	Merchant Batch Header Electronic Processing 
 

	·
	 
	Third Party Authorization Posting 
 

	·
	 
	Daily Advice – Deposit, Adjustment 
 

	·
	 
	Batch/Letter Adjustment 
 

	·
	 
	Electronic Ticket processing Confirmation Letter Statement Creation 
 

	·
	 
	Statement Printing 
 

	·
	 
	Consolidated Chain Merchant Statements 
 

	·
	 
	ACH Tape Settlement 
 

	·
	 
	On-line Merchant Statements – for 4 months 
 

	·
	 
	Ad Hoc Query File Creation & Transmission 
 

 

 2 

  
 
	 Pricing for Miscellaneous Multi-client
 Merchant Services as of October 1, 2001.
 	 	 Merchant Fraud Reporting System
 
	  	  	  	 	 Transactions
 	 	  	  	  
	 ·   Basic Chargeback, per item
 	  	 $4.43
 	 	  	 	  	  	  
	 ·   Basic Retrieval, per item
 	  	 $2.43
 	 	     Up to 24,000,000
 	 	 .00060
 	  	  
	 ·   Additional months of on-line merchant     statements beyond 4
 	  	 $.023 per item
 	 	     24,000,001 – 48,000,000
 	 	 .00055
 	  	  
	  	 	     48,000,001 – 96,000,000
 	 	 .00050
 	  	  
	 ·   Incoming Neuraltech chargeback without     documentation, per item
 	  	 $0.75
 	 	     96,000,001 and up
 	 	 .00045
 	  	  
	  	 	  	 	  	  	  
	 ·   Outgoing Retrieval request Neuraltech, per     item
 	  	  	 	  	 	  	  	  
	  	 $0.20
 	 	 EDS Archive
 	 	  	  	  
	 ·   Incoming Retrieval Request Neuraltech, per     item
 	  	  	 	  	 	  	  	  
	  	 $0.20
 	 	 Transactions
 	 	  	  	  
	 ·   Ad hoc server
 	  	 $4250/month*
 	 	  	 	  	  	  
	  	  	  	 	     Up to 24,000,000
 	 	 .00068
 	  	  
	     *  In the event GLOBAL’s volumes exceed the server’s
capacity EDS shall add additional capacity upon GLOBAL’s request at a mutually agreeable price.
 	 	     24,000,001 – 48,000,000
 	 	 .00065
 	  	  
	 	     48,000,001 – 96,000,000
 	 	 .00062
 	  	  
	 	     96,000,001 and up
 	 	 .00059
 	  	  
	 	  	 	  	  	  
	  	  	  	 	 Telecommunications & Network Management Fee
  
 EDS will charge a monthly telecommunications and network management fee of $21,800 for the multi-client portfolio. Telecommunications fees are considered pass through and are contingent upon the level
of service provided by EDS and band width required by the customer. New customers will be quoted a fee based on service.
 

 
 

 3 

  
 
	 Pricing for Miscellaneous Multi-client
 Merchant Services
as of October 1, 2002.
 	    	  
	 
	 ·   Basic Chargeback, per item
 	  	 $4.21
 	    	  
	 ·   Basic Retrieval, per item
 	  	 $2.31
 	    	  
	 ·   Additional months of on-line merchant     statements beyond 4
 	  	  	    	  
	  	 $.022 per item
 	    	  
	 ·   Incoming Neuraltech chargeback without     documentation, per item
 	  	  	    	  
	  	 $0.71
 	    	  
	 ·   Outgoing Neuraltech chargeback without     documentation, per item
 	  	 $0.71
 	    	  
	 ·   Outgoing Retrieval request Neuraltech per item
 	  	 $0.19
 	    	  
	 ·   Incoming Retrieval Request Neuraltech, per     item
 	  	  	    	  
	  	 $0.19
 	    	  
	 ·   Ad hoc server
 	  	 $4037.50/month*
 	    	  
	 
	 * In the event GLOBAL’s volumes exceed the server’s capacity EDS shall add additional capacity
upon GLOBAL’s request at a mutually agreeable price.
 	    	  
	  	    	  
	 Merchant Fraud Reporting System
 	    	  
	 Transactions
 	  	  	    	  
	 
	     Up to 24,000,000
 	  	 .000570
 	    	  
	     24,000,001 – 48,000,000
 	  	 .000522
 	    	  
	     48,000,001 – 96,000,000
 	  	 .000475
 	    	  
	     96,000,001 and up
 	  	 .000428
 	    	  
	 
	 EDS Archive
 	  	  	    	  
	 Transactions
 	  	  	    	  
	 
	     Up to 24,000,000
 	  	 .000646
 	    	  
	     24,000,001 – 48,000,000
 	  	 .000618
 	    	  
	     48,000,001 – 96,000,000
 	  	 .000589
 	    	  
	     96,000,001 and up
 	  	 .000560
 	    	  
	 
	 Telecommunications & Network Management Fee
 	    	  
	 
	 EDS will charge a monthly telecommunications and network management fee of $21,800 for the multi-client portfolio. Telecommunications fees are
considered pass through and are contingent upon the level of service provided by EDS and band width required by the customer. New customers will be quoted a fee based on service. 
 	    	  

 
  
 

 4 

  
 Pass-Through Expense 
  

	·
	 
	MasterCard and Visa Fees 
 

  

	·
	 
	Postage used for services rendered to GLOBAL hereunder 
 

  

	·
	 
	Communication Line and Equipment Fees which are requested by GLOBAL 
 

  

	·
	 
	Custom Forms Specifically Requested 
 

  

	·
	 
	Microfiche 
 

  
 Professional
Services 
  

	·
	 
	EDS will quote time/material rates per engagement. Current rates are $80 per hour, subject to change each anniversary at mutually agreeable prices.

 

  

	·
	 
	EDS will charge fees for set-up related to telecommunications. 
 

  

	·
	 
	Dedicated SE’s will be billed to GPS based on their fully – loaded total compensation including space and equipment and including commercially
reasonable travel expenses at cost. 
 

  
 

 5 

  
 Performance Standards/Service Level Agreement 
  
 Schedule B 
  
 This schedule
will serve as the agreement for Information Technology Services-Performance Standards/Service Level Agreement between Electronic Data Systems (EDS) and Global Payment Systems (Customer) 
  

Section 1.1    Outage Notification – Planned Outages 
  
 Proper notification to the Customer for planned outages will be a minimum of 72 hours with a goal of 7 days. 
  
 Section
1.2    Planned Outages – Schedule 
  
 Planned outages will be scheduled between the hours of 2:00 a.m. to 6:00
a.m. EST. EDS may schedule up to four planned outages a year to exceed the 2:00 a.m. to 6:00 a.m. window for the purposes of power and Central Processing Unit (CPU) maintenance. Standards as outlined in Section(s) 3.1 and 3.3 will be waived for
planned outages as long as proper notification, as defined in Section 1.1, has been made to the Customer. Outages agreed to by customer to support conversion activities will not be counted against the standards described in Section 3.1 through 3.3.

  
 Section 1.3    Outage Notification – Unscheduled Outages 
  
 The Customer will notify the EDS Westlake Resource Center (WRC) upon discovery of any unscheduled outage or system problem undetected by EDS. EDS will notify the
Customer upon discovery of any unscheduled outage or system problem not previously reported by the Customer. EDS will provide periodic status reports to the Customer during the duration of an unscheduled outage or system problem. Intervals for
status reporting will not exceed 30 minutes if an online outage or 60 minutes if a batch outage. 
  
 Section
1.4    Outage Reporting 
  
 The duration of scheduled or unscheduled outages will be reported to the Customer by EDS
on the Daily Standards Performance Report. A Systems Impact Statement will be provided to the Customer for all unscheduled outages or system problems within 3 business days of the occurrence. (The Systems Impact Statement will contain a description
of the problem, systems affected, duration of outage, the short term resolution, the permanent resolution and the date of occurrence.) 
  
 Section 2.1    Processing Problems – Definitions 
  
 Processing problems will be defined in
accordance with the following severity codes. 
  

	Severity  1:
	 
	An Online application is unavailable for performing normal standard functions or a batch job has abended and requires immediate repair. The problem has a
financial impact or is of a critical nature and has no temporary work around. Performance standards as defined in this agreement cannot be met until the problem is resolved. 
 

  

	Severity  2:
	 
	The problem is of a critical nature and must be resolved prior to the next cycle or scheduled event relative to the nature of the problem. For example, a
statement cycle. 
 

  

	Severity  3:
	 
	The problem is of a non-critical nature or a work around exists. Performance standards are not being affected. 
 

  

	Severity  4:
	 
	A problem or issue not requiring System Engineering resources. 
 

  
 Section 2.2    Processing Problems – Resolutions 
  
 EDS
will resolve reported processing problems in accordance with the severity code as outlined below: 
  
 

 1 

  
 Severity 1 – 100% resolved prior to nightly batch cycle or ASAP for online systems. 

Severity 2 – 100% resolved prior to the next scheduled cycle relative to the problem. 
 Severity 3 – As
prioritized by the Customer. 
 Severity 4 – Within 5 business days. 
  
 Section 3.1    Settlement 
  
 MasterCard Outgoing: 
  
 Standard:    100% meets the window if received prior to 12:00 a.m. EST. 
  
 Visa Outgoing: 
  
 Standard:    100% meets the window if received prior
to 12:00 a.m. EST. 
  
 Diners Outgoing: 
  
 Standard:    100% meets the window if received prior to 12:00 a.m. EST. 
  
 Outages caused by failure of
MasterCard, Visa, or Diner’s will not be counted against these standards. 
  
 Section 3.2    Systems
Availability Standards 
  
 All times referenced below are EST. 
  
 Exception Processing System 
 Base Time: 100% available 6:00 a.m. to
8:30 p.m., Monday through Saturday 
 100% available 8:00 a.m. to 4:00 p.m., Sunday 
  

Availability Standard: Daily 99.25% of Base Time: 
  
 Merchant Accounting System 
 Base Time: 100% available 8:00 a.m. to 9:00 p.m. 7 days per week 
  
 Availability Standard: Daily 99.25% of Base Time: 
  
 Section 3.3    Other Performance Standards 
  
 a) Mailings

 Merchant Statements: 50% mailed within 3 business days, 100% in 4 business days. 
  
 Letters & Notices: 95% mailed within 3 business days, 100% in 4 business days. 
  
 Microfiche: 100% mailed within 7 business days. 
  
 Reports: 100%
mailed next business day. 
  
 b) Data Security Services 
  Standard: 95% of all Data Security will be completed within 3 business days, 100% in 5 business days 
 

 2 

  
 Section 4.1    Required Processing Files 
  
 The Customer agrees to transmit all necessary monetary and non-monetary account information required for batch processing on or before the times established
below. The Customer further agrees that should any of the listed files not be received prior to the established deadlines, the batch cycle will be processed without the data in the transmission, or, upon Customers option, the batch cycle will be
held until receipt of such file and all standards for that cycle will have been considered to have been met by EDS. 
  
 

 3 

  
 Schedule C 
  
 The parties shall determine the number of months remaining in the unexpired term of the contract (including the month in which the termination occurs) and shall multiply that number by $83,400 in order
to determine the amount owed to GPI under Section 5.8 (e). 

	

	

 

 1Prepared by R.R. Donnelley Financial -- Employment Agreement

 EXHIBIT 10.32 
  
 
 
  
 EMPLOYMENT AGREEMENT 
  
 BETWEEN 
  
 JEFFERY C. MCWEY 

 
 AND 
  
 GLOBAL PAYMENTS INC. 
  
 Dated as of October 26, 2001 
  
  
  
 
 
  
 

  
 EMPLOYMENT AGREEMENT 
  
 CONTENTS 
  
 
	 
	   1.
 	  	 Effective Date
 	  	 1
 
	 
	 2.
 	  	 Employment
 	  	 1
 
	 
	 3.
 	  	 Employment Period
 	  	 1
 
	 
	 4.
 	  	 Extent of Service
 	  	 1
 
	 
	 5.
 	  	 Compensation and Benefits
 	  	 2
 
	  	  	 (a)  Base Salary
 	  	 2
 
	  	  	 (b)  Incentive and Savings Plans
 	  	 2
 
	  	  	 (c)  Welfare Benefit Plans
 	  	 3
 
	  	  	 (d)  Expenses
 	  	 3
 
	  	  	 (e)  Fringe Benefits
 	  	 3
 
	 
	 6.
 	  	 Change in Control
 	  	 3
 
	 
	 7.
 	  	 Termination of Employment
 	  	 4
 
	  	  	 (a)  Death, Retirement or Disability
 	  	 4
 
	  	  	 (b)  Termination by the Company
 	  	 4
 
	  	  	 (c)  Termination by Executive
 	  	 5
 
	  	  	 (d)  Notice of Termination
 	  	 5
 
	  	  	 (e)  Date of Termination
 	  	 6
 
	 
	 8.
 	  	 Obligations of the Company upon Termination
 	  	 6
 
	  	  	 (a)  Prior to a Change in Control: Termination by Executive for Good Reason; Termination by the Company
Other Than for Poor Performance, Cause or Disability
 	  	 6
 
	  	  	 (b)  Prior to Change in Control: Termination by the Company for Poor Performance
 	  	 7
 
	  	  	 (c)  After or in Connection with a Change in Control: Termination by Executive for Good Reason; Termination
by the Company Other Than for Cause or Disability
 	  	 9
 
	  	  	 (d)  Death, Disability or Retirement
 	  	 10
 

 
 

 
	  	  	 (e)  Cause or Voluntary Termination without Good Reason
 	  	 10
 
	 
	 9.
 	  	 Non-exclusivity of Rights
 	  	 10
 
	 
	 10.
 	  	 Certain Additional Payments by the Company
 	  	 10
 
	 
	 11.
 	  	 Costs of Enforcement
 	  	 13
 
	 
	 12.
 	  	 Representations and Warranties
 	  	 13
 
	 
	 13.
 	  	 Restrictions on Conduct of Executive
 	  	 13
 
	  	  	 (a)  General
 	  	 13
 
	  	  	 (b)  Definitions
 	  	 13
 
	  	  	 (c)  Restrictive Covenants
 	  	 15
 
	  	  	 (d)  Enforcement of Restrictive Covenants
 	  	 17
 
	 
	 14.
 	  	 Arbitration
 	  	 17
 
	 
	 15.
 	  	 Letter of Credit
 	  	 18
 
	 
	 16.
 	  	 Assignment and Successors
 	  	 18
 
	 
	 17.
 	  	 Miscellaneous
 	  	 19
 
	  	  	 (a)  Waiver
 	  	 19
 
	  	  	 (b)  Severability
 	  	 19
 
	  	  	 (c)  Other Agents
 	  	 19
 
	  	  	 (d)  Entire Agreement
 	  	 19
 
	  	  	 (e)  Governing Law
 	  	 19
 
	  	  	 (f)  Notices
 	  	 19
 
	  	  	 (g)  Amendments and Modifications
 	  	 20
 

 
  
 

  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into this 26th day of October, 2001 by and between Global Payments Inc., a Georgia corporation
(the “Company”), and Jeffery C. McWey (“Executive”), to be effective as of the Effective Date, as defined in Section 1. 
  
 BACKGROUND 
  
 Executive shall serve as the Chief Marketing Officer of the
Company. Executive and the Company desire to memorialize the terms of such employment in this Agreement. In addition, the Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the Company and
its stockholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change in Control (as defined below) of the Company. As it is desired and anticipated that
Executive will continue to be employed and provide services for the Company’s successor for at least 24 months following a Change in Control, one purpose of this Agreement is to provide Executive with compensation and benefits arrangements
which ensure that the compensation and benefits expectations of Executive will be satisfied and which are competitive with those of other corporations. Therefore, in order to accomplish these objectives, the Board has caused the Company to enter
into this Agreement. The terms of this Agreement replace any terms that might have been contained in any offer letter or other communication regarding Executive’s employment. 
  
 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1.  Effective
Date.    The effective date of this Agreement (the “Effective Date”) is October 26, 2001. 
  
 2.  Employment.    Executive is hereby employed as the Chief Marketing Officer of the Company. In such capacity, Executive shall have the responsibilities commensurate with such position as shall
be assigned to him by the Chief Executive Officer of the Company, in accordance with the policies and objectives established by the Board. 
  
 3.  Employment Period.    Executive’s employment hereunder shall begin on the Effective Date and continue until terminated in accordance with Section 7 hereof (the “Employment
Period”). 
  
 4.  Extent of Service.    During the Employment Period,
Executive shall render his services to the Company (or to its successor following a Change in Control) in conformity with professional standards, in a prudent and workmanlike manner and in a manner consistent with the obligations imposed on officers
of corporations under applicable law. Executive shall promote the interests of the Company and its subsidiaries in carrying out 
 

 1 

  
 Executive’s duties and shall not deliberately take any action which could, or fail to take any
action which failure could, reasonably be expected to have a material adverse effect upon the business of the Company or any of its subsidiaries or any of their respective affiliates. Executive agrees to devote his business time, attention, skill
and efforts exclusively to the faithful performance of his duties hereunder (both before and after a Change in Control); provided, however, that it shall not be a violation of this Agreement for Executive to (i) devote reasonable periods of time to
charitable and community activities and, with the approval of the Company, industry or professional activities, and/or (ii) manage personal business interests and investments, so long as such activities do not materially interfere with the
performance of Executive’s responsibilities under this Agreement. 
  
 5.    Compensation
and Benefits. 
  
 (a)  Base Salary.    Thereafter, during
the Employment Period, the Company will pay to Executive a base salary in the amount of U.S. $275,000 per year (“Base Salary”), less normal withholdings, payable in equal bi-weekly or other installments as are customary under the
Company’s payroll practices from time to time. The Compensation Committee of the Board shall review Executive’s Base Salary periodically and in its sole discretion, subject to approval of the Board, may increase Executive’s Base
Salary from time to time. The periodic review of Executive’s salary by the Board will consider, among other things, Executive’s own performance and the Company’s performance. 
  
 (b)  Incentive and Savings Plans.    During the Employment Period, Executive shall be entitled to participate in
incentive and savings plans, practices, policies and programs applicable generally to employees of the Company. Certain executive programs will be made available on a selective basis at the discretion of the Chief Executive Officer or the
Compensation Committee of the Board. Without limiting the foregoing, the following shall apply: 
  
 (i)  Annual Bonus.    For the fiscal year 2001, Executive will only have the opportunity to work for seven out of the twelve months of the fiscal year. As a result, Executive will have a prorated
bonus opportunity of $87,500, based on 100% achievement of agreed-upon financial and performance objectives. Each year thereafter the Chief Executive Officer and the Executive shall establish Executive’s annual bonus opportunity, based on 100%
achievement of agreed-upon financial and performance objectives. The Executive’s annual bonus opportunity as determined pursuant to the foregoing shall be referred to herein as the “Bonus Opportunity”. The Company may determine in any
year that a portion of the Bonus Opportunity for that year will be deferred based upon sustained results over time. The annual Bonus Opportunity and specific performance and financial objectives will be set forth in Executive’s individual
performance and incentive plan for each year. 
  
 (ii)  Incentive
Awards.    On or about the Effective Date, the Company made a grant of stock options to Executive as a long-term incentive for performance and 
 

 2 

  
 in consideration for entering into this Agreement. Further grants of incentive
awards may be made to Executive in future years. If Executive is (a) an active employee on June 1, 2002, (b) his employment has not been terminated, and (c) he has neither sent nor received a Notice of Termination as provided hereunder, Executive
shall be granted a restricted stock award of 9960 shares. The restriction on such stock shall remain in place until June 1, 2006 and shall be subject to the other terms and conditions contained in the agreement to be entered into between employee
and the Company at the time such grant is made. 
  
 (c)  Welfare Benefit
Plans.    During the Employment Period, Executive and Executive’s family shall be eligible for participation in, and shall receive all benefits under, the welfare benefit plans, practices, policies and programs provided
by the Company (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) (“Welfare Plans”). 
  
 (d)  Expenses.    During the Employment Period, Executive shall be entitled to
receive prompt reimbursement for all reasonable expenses incurred by Executive in accordance with the policies, practices and procedures of the Company. 
  
 (e)  Fringe Benefits.    During the Employment Period, Executive shall be entitled to fringe benefits in accordance
with the plans, practices, programs and policies of the Company. 
  
 6.  Change in
Control.    For the purposes of this Agreement, a “Change in Control” shall mean: 
  
 (a) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors
(the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control: (i) any acquisition by a Person who is on the Effective Date
the beneficial owner of 35% or more of the Outstanding Company Voting Securities, (ii) any acquisition directly from the Company, (iii) any acquisition by the Company which reduces the number of Outstanding Company Voting Securities and thereby
results in any person having beneficial ownership of more than 35% of the Outstanding Company Voting Securities, (iv) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation
controlled by the Company, or (v) any acquisition by any corporation pursuant to a transaction which complies with clauses (i) and (ii) of subsection (b) of this Section 6; or 
  
 (b) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a
“Business Combination”), in each case, unless, following such Business Combination, (i) all or 
 

 3 

  
 substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of
common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, and (ii) no Person (excluding the Company or any employee benefit plan (or related trust) of the
Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 35% or more of the combined voting power of the then outstanding voting securities of such corporation except to the extent that such
ownership existed prior to the Business Combination; provided, however, that 
  
 (c) Notwithstanding
anything in this definition to the contrary, a restructuring and/or separation of any line of business or business unit from the Company will not of itself constitute a Change in Control. 
  
 7.    Termination of Employment 
  
 (a)  Death, Retirement or Disability.    Executive’s employment and the Employment Period shall terminate automatically upon Executive’s death or
Retirement. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or there is no such retirement plan, “Retirement” shall mean voluntary
termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its
intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”),
provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as
determined by the Board in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, Disability
shall mean the inability of Executive, as determined by the Board, to substantially perform the essential functions of his regular duties and responsibilities due to a medically determinable physical or mental illness which has lasted (or can
reasonably be expected to last) for a period of six consecutive months. 
 

 4 

  
 (b)  Termination by the
Company.    The Company may terminate Executive’s employment for Poor Performance or with or without Cause. For purposes of this Agreement: 
  
 “Poor Performance” shall mean the consistent failure of Executive to meet reasonable performance expectations (other than any such failure
resulting from incapacity due to physical or mental illness); provided, however, that termination for Poor Performance shall not be effective unless at least 30 days prior to such termination Executive shall have received written notice from Chief
Executive Officer or the Board which specifically identifies the manner in which the Board or the Chief Executive Officer believes that Executive has not met performance expectations and Executive shall have failed after receipt of such notice to
resume the diligent performance of his duties to the satisfaction of the Chief Executive Officer or the Board; and 
  
 “Cause” shall mean: 
  
 (i) the willful and continued failure of
Executive to perform substantially Executive’s duties with the Company (other than any such failure resulting from incapacity due to physical or mental illness, and specifically excluding any failure by Executive, after reasonable efforts, to
meet performance expectations), after a written demand for substantial performance is delivered to Executive by the President, Chief Executive Officer or the Board of Directors of the Company which specifically identifies the manner in which such
Board or officer believes that Executive has not substantially performed Executive’s duties, or 
  
 (ii) any act of fraud, misappropriation, embezzlement or similar dishonest or wrongful act by Executive, or 
  
 (iii) Executive’s abuse of alcohol or any substance which materially interferes with Executive’s ability to perform services on behalf of the Company, or 
  
 (iv) Executive’s conviction for, or plea of guilty or nolo contendere to, a felony. 
  
 (c)  Termination by Executive.    Executive’s employment may be terminated by
Executive for Good Reason or no reason. For purposes of this Agreement, “Good Reason” shall mean: 
  
 (i) without the written consent of Executive, the assignment to Executive to a position other than Executive Vice President and Chief Marketing Officer.  
  
 (ii) a reduction by the Company in Executive’s Base Salary and benefits as in effect on the Effective Date or as the same may be increased from time to
time, unless a similar reduction is made in salary and benefits of similarly-situated senior executives; 
 

 5 

  
 (iii) the Company’s requiring Executive, without his
consent, to be based at any office or location other than in the greater metropolitan area of the city in which his office is located at the Effective Date; or 
  
 (iv) any failure by the Company to comply with and satisfy Section 16(c) of this Agreement. 
  
 (d)  Notice of Termination.    Any termination by the Company for Poor Performance or Cause, or by Executive for Good
Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 17(f) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates
the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the
provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than 30 days after the giving of such notice). The failure
by Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason, Poor Performance or Cause shall not waive any right of Executive or the Company, respectively, hereunder or
preclude Executive or the Company, respectively, from asserting such fact or circumstance in enforcing Executive’s or the Company’s rights hereunder. 
  
 (e)  Date of Termination.    “Date of Termination” means (i) if Executive’s employment is terminated
other than by reason of death, Disability or Retirement, the date of receipt of the Notice of Termination, or any later date specified therein (which shall not be more than 60 days after the date of delivery of the Notice of Termination), or (ii) if
Executive’s employment is terminated by reason of death, Disability or Retirement, the Date of Termination will be the date of death or Retirement, or the Disability Effective Date, as the case may be. 
  
 8.    Obligations of the Company upon Termination. 
  
 (a)  Prior to a Change in Control: Termination by Executive for Good Reason; Termination by the Company Other Than for Poor Performance, Cause
or Disability.    If, prior to a Change in Control, the Company shall terminate Executive’s employment other than for Poor Performance, Cause or Disability, or Executive shall terminate employment for Good Reason within
a period of 90 days after the occurrence of the event giving rise to Good Reason, then (and with respect to the payments and benefits described in clauses (ii) through (vii) below, only if Executive executes a Release in substantially the form of
Exhibit A hereto (the “Release”)): 
  
 (i)  the Company shall pay to Executive in
a lump sum in cash within 30 days after the Date of Termination the sum of (A) Executive’s Base Salary through the 
 

 6 

  
 Date of Termination to the extent not theretofore paid, and (B) any accrued
vacation pay to the extent not theretofore paid (the sum of the amounts described in clauses (A) and (B) shall be hereinafter referred to as the “Accrued Obligations”); and 
  
 (ii)  for the longer of six months or until Executive becomes employed with a subsequent employer, earns an income from becoming an owner,
partner, or an independent contractor of any other entity, or in the event Employee earns an income from becoming a consultant, starting a business, or otherwise, but in no event to exceed 18 months from the Date of Termination (the “Normal
Severance Period”), the Company will continue to pay Executive an amount equal to his monthly Base Salary, payable in equal monthly or more frequent installments as are customary under the Company’s payroll practices from time to time;
provided, however that the Company’s obligation to make or continue such payments shall cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(a) of this Agreement) and fails to remedy such violation to the
satisfaction of the Board within 10 days of notice of such violation; and 
  
 (iii)  during
the Normal Severance Period, the Company shall continue benefits to Executive and/or Executive’s family at least equal to those which would have been provided to them in accordance with the Welfare Plans described in Section 5(c) of this
Agreement if Executive’s employment had not been terminated; provided, however that the Company’s obligation to provide such benefits shall cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(a) of this
Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; and 
  
 (iv)  not later than 30 days after the Date of Termination, Executive will be paid a bonus for the year in which the Date of Termination occurs in an amount equal to the greater of (1) 50% of
his Bonus Opportunity (as defined in Section 5(b)(i)) for such year, or (2) 100% of his Bonus Opportunity (prorated through the Date of Termination) adjusted up or down by reference to his year-to-date performance at the Date of Termination in
relation to the prior established performance objectives under Executive’s bonus plan for such year; and 
  
 (v)  all grants of restricted stock of the Company (“Restricted Stock”) held by Executive as of the Date of Termination will become immediately vested as of the Date of Termination; and 
  
 (vi)  all of Executive’s options to acquire Common Stock of the Company (“Options”) that would
have become vested (by lapse of time) within the 24-month period following the Date of Termination had Executive remained employed during such period will become immediately vested as of the Date of Termination; and 
  
 (vii)  notwithstanding the provisions of the applicable Option agreement, all of Executive’s vested but
unexercised Options as of the Date of Termination (including those with accelerated vesting pursuant to Section 8(a)(vi) above) 
 

 7 

  
 shall remain exercisable through the earlier of (A) the original expiration date
of the Option, or (B) the 90th day following the end of the Normal Severance Period; and 

 
 (viii)  to the extent not theretofore paid or provided, the Company shall timely pay or provide to
Executive any other amounts or benefits required to be paid or provided or which Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company (such other amounts and benefits shall be
hereinafter referred to as the “Other Benefits”). 
  
 (b) Prior to a Change in Control: Termination by
the Company for Poor Performance.    If, prior to the occurrence of a Change in Control, the Company shall terminate Executive’s employment for Poor Performance, then (and with respect to the payments and benefits
described in clauses (ii) through (vii) below, only if Executive executes the Release): 
  
 (i) the
Company shall pay to Executive the Accrued Obligations in a lump sum in cash within 30 days after the Date of Termination; and 
  
 (ii) for the shorter of 12 months after the Date of Termination or until Executive becomes employed with a subsequent employer, earns an income from becoming an owner, partner, or an independent
contractor of any other entity, or in the event Employee earns an income from becoming a consultant, starting a business, or otherwise, (the “Poor Performance Severance Period”), the Company will continue to pay Executive an amount equal
to his monthly Base Salary, payable in equal monthly or more frequent installments as are customary under the Company’s payroll practices from time to time; provided, however that the Company’s obligation to make or continue such payments
shall cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(a) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; and 

 
 (iii) during the Poor Performance Severance Period, the Company shall continue benefits to Executive and/or
Executive’s family at least equal to those which would have been provided to them in accordance with the Welfare Plans described in Section 5(c) of this Agreement if Executive’s employment had not been terminated; provided, however that
the Company’s obligation to provide such benefits shall cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(a) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10
days of notice of such violation; and 
  
 (iv) not later than 30 days after the Date of Termination,
Executive will be paid a bonus for the year in which the Date of Termination occurs in an amount equal to 100% of his Bonus Opportunity (prorated through the Date of Termination) adjusted up or down by reference to his year-to-date performance at
the Date of Termination in relation to the prior established performance objectives under Executive’s bonus plan for such year; and 
 

 8 

  
 (v)  all grants of Restricted Stock held by Executive
as of the Date of Termination that would have become vested (by lapse of time) within the 24-month period following the Date of Termination had Executive remained employed during such period will become immediately vested as of the Date of
Termination; and 
  
 (vi)  all of Executive’s Options that would have become vested
(by lapse of time) within the 24-month period following the Date of Termination had Executive remained employed during such period will become immediately vested and exercisable as of the Date of Termination; and 
  
 (vii)  notwithstanding the provisions of the applicable Option agreement, all of Executive’s vested but
unexercised Options as of the Date of Termination (including those with accelerated vesting pursuant to the Section 8(b)(vi) above) shall remain exercisable through the earlier of (A) the original expiration date of the Option, or (B) the
90th day following the end of the later of (1) six months from the Date of Termination, or (2) the end of
the Poor Performance Severance Period; and 
  
 (viii)  to the extent not theretofore paid
or provided, the Company shall timely pay or provide to Executive his Other Benefits. 
  
 (c)  After or in Connection with a Change in Control: Termination by Executive for Good Reason; Termination by the Company Other Than for Cause or Disability.    If there occurs a Change in
Control and, within 36 months following such Change in Control (or if Executive can reasonably show that such termination by the Company was in anticipation of the Change in Control), the Company shall terminate Executive’s employment other
than for Cause or Disability, or Executive shall terminate employment for Good Reason, then (and with respect to the payments and benefits described in clauses (ii) through (vii) below, only if Executive executes the Release): 

 
 (i)  the Company (or its successor) shall pay to Executive the Accrued Obligations in a lump sum in
cash within 30 days after the Date of Termination; and 
  
 (ii)  for 24 months after the
Date of Termination (the “Change in Control Severance Period”), the Company (or its successor) will, as a severance benefit, continue to pay Executive an amount equal to his monthly Base Salary, payable in equal monthly or more frequent
installments as are customary under the Company’s payroll practices from time to time; provided, however that the Company’s obligation to make or continue such payments shall cease if Executive violates any of the Restrictive Covenants (as
defined in Section 13(a) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; and 
  
 (iii)  during the Change in Control Severance Period, the Company shall continue benefits to Executive and/or Executive’s family at least
equal to those which 
 

 9 

  
 would have been provided to them in accordance with the Welfare Plans described
in Section 5(c) of this Agreement if Executive’s employment had not been terminated; provided, however that the Company’s obligation to provide such benefits shall cease if Executive violates any of the Restrictive Covenants (as defined in
Section 13(a) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; and 
  
 (iv)  not later than 30 days after the Date of Termination, Executive will be paid a bonus for the year in which the Date of Termination occurs in
an amount equal to 100% of his Bonus Opportunity (as defined in Section 5(b)(i)); and 
  
 (v)  all grants of Restricted Stock held by Executive as of the Date of Termination will become immediately vested as of the Date of Termination; and 
  
 (vi)  all of Executive’s Options held by Executive as of the Date of Termination will become immediately vested and exercisable as of the
Date of Termination; and 
  
 (vii)  notwithstanding the provisions of the applicable Option
agreement, all of Executive’s vested but unexercised Options as of the Date of Termination (including those with accelerated vesting pursuant to the Section 8(c)(vi) above) shall remain exercisable through the earlier of (A) the original
expiration date of the Option, or (B) the 90th day following the end of the Change in Control Severance
Period; and 
  
 (viii)  to the extent not theretofore paid or provided, the Company shall
timely pay or provide to Executive his Other Benefits. 
  
 (d)  Death, Disability or
Retirement.    Regardless of whether or not a Change in Control shall have occurred, if Executive’s employment is terminated by reason of Executive’s death, Disability or Retirement, this Agreement shall terminate
without further obligations to Executive or his estate or legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to
Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as used in this Section 8(d) shall include, without
limitation, and Executive or his estate and/or beneficiaries shall be entitled to receive, benefits under such plans, programs, practices and policies relating to death, disability or retirement benefits, if any, as are applicable to Executive on
the Date of Termination. 
  
 (e)  Cause or Voluntary Termination without Good
Reason.    Regardless of whether or not a Change in Control shall have occurred, if Executive’s employment shall be terminated for Cause, or if Executive voluntarily terminates employment without Good Reason, this
Agreement shall terminate without further obligations to Executive, other 
 

 10 

  
 than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.

  
 9.  Non-exclusivity of Rights.    Nothing in this Agreement shall prevent or
limit Executive’s continuing or future participation in any plan, program, policy or practice provided by the Company and for which Executive may qualify, nor, subject to Section 17(d), shall anything herein limit or otherwise affect such
rights as Executive may have under any contract or agreement with the Company. Amounts which are vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the
Company at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 
  
 10.  Certain Additional Payments by the Company. 
  
 (a)  Anything in this Agreement to the contrary notwithstanding and except as set forth below, in the event it shall be determined that any
payment or distribution by the Company to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments
required under this Section 10) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any
such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by
Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up
Payment, Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 10(a), if it shall be determined that Executive is entitled to a Gross-Up
Payment, but that Executive, after taking into account the Payments and the Gross-Up Payment, would not receive a net after-tax benefit of at least $50,000 (taking into account both income taxes and any Excise Tax) as compared to the net after-tax
proceeds to Executive resulting from an elimination of the Gross-Up Payment and a reduction of the Payments, in the aggregate, to an amount (the “Reduced Amount”) such that the receipt of Payments would not give rise to any Excise Tax,
then no Gross-Up Payment shall be made to Executive and the Payments, in the aggregate, shall be reduced to the Reduced Amount. In that event, Executive shall direct which Payments are to be modified or reduced. 
  
 (b)  Subject to the provisions of Section 10(c), all determinations required to be made under this Section 10,
including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by Arthur Andersen LLP or such other certified public accounting
firm reasonably acceptable to the Company as may be 
 

 11 

  
 designated by Executive (the “Accounting Firm”) which shall provide
detailed supporting calculations both to the Company and Executive within 15 business days of the receipt of notice from Executive that there has been a Payment, or such earlier time as is requested by the Company. In the event that the Accounting
Firm is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, Executive shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm
shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 10, shall be paid by the Company to
Executive within five days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Company and Executive. As a result of the uncertainty in the application of Section 4999 of the
Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations
required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 10(c) and Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment
that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of Executive. 
  
 (c)  The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be
given as soon as practicable but no later than ten business days after Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive
shall not pay such claim prior to the expiration of the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the
Company notifies Executive in writing prior to the expiration of such period that it desires to contest such claim, Executive shall: 
  
 (i)  give the Company any information reasonably requested by the Company relating to such claim, 
  
 (ii)  take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
  
 (iii)  cooperate with the Company in good faith in order effectively to contest such claim, and 
  
 (iv)  permit the Company to participate in any proceedings relating to such claim; 
 

 12 

  
 provided, however, that the Company shall bear and pay directly all costs and
expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect
thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation of the foregoing provisions of this Section 10(c), the Company shall control all proceedings taken in connection with such contest and, at its
sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct Executive to pay the tax claimed and sue for a
refund or contest the claim in any permissible manner, and Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall
determine; provided, however, that if the Company directs Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to Executive, on an interest-free basis and shall indemnify and hold Executive harmless,
on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and further provided that any
extension of the statute of limitations relating to payment of taxes for the taxable year of Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s
control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or
any other taxing authority. 
  
 (d)  If, after the receipt by Executive of an amount
advanced by the Company pursuant to Section 10(c), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 10(c)) promptly pay to the
Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Executive of an amount advanced by the Company pursuant to Section 10(c), a determination is made that
Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such
advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
  
 11.  Costs of Enforcement.    Unless otherwise provided by the arbitrator(s) in an arbitration proceeding pursuant to Section 14
hereof, in any action taken in good faith relating to the enforcement of this Agreement or any provision herein, Executive shall be entitled to be paid any and all costs and expenses incurred by him in enforcing or establishing his rights
thereunder, including, without limitation, reasonable attorneys’ fees, whether suit be brought or not, and whether or not incurred in trial, bankruptcy or 
 

 13 

  
 appellate proceedings, but only if Executive is successful on at least one material issue raised in the
enforcement proceeding. 
  
 12.  Representations and Warranties.    Executive
hereby represents and warrants to the Company that Executive is not a party to, or otherwise subject to, any covenant not to compete with any person or entity, and Executive’s execution of this Agreement and performance of his obligations
hereunder will not violate the terms or conditions of any contract or obligation, written or oral, between Executive and any other person or entity. 
  
 13.  Restrictions on Conduct of Executive. 
  
 (a)  General.    Executive and the Company understand and agree that the purpose of the provisions of this Section 13 is to protect legitimate business interests of the Company, as more fully
described below, and is not intended to eliminate Executive’s post-employment competition with the Company per se, nor is it intended to impair or infringe upon Executive’s right to work, earn a living, or acquire and possess
property from the fruits of his labor. Executive hereby acknowledges that the post-employment restrictions set forth in this Section 13 are reasonable and that they do not, and will not, unduly impair his ability to earn a living after the
termination of this Agreement. Therefore, subject to the limitations of reasonableness imposed by law, Executive shall be subject to the restrictions set forth in this Section 13. 
  
 (b)  Definitions.    The following terms used in this Section 13 shall have the meanings assigned to them below, which
definitions shall apply to both the singular and the plural forms of such terms: 
  
 “Competitive Position” means any employment with a Competitor in which Executive will use or is likely to use any Confidential Information or Trade Secrets, or in which Executive has duties for such Competitor that
relate to Competitive Services and that are the same or similar to those services actually performed by Executive for the Company; 
  
 “Competitive Services” means the provision of products and services to facilitate or assist with the movement of electronic commerce, including without limitation, payment and
financial information, merchant and cardholder processing, credit and debit transaction processing, check guarantee and verification, electronic authorization and capture, terminal management services, portfolio risk management, purchase card
services, financial electronic data interchange, and cash management services, including internet applications of any of the foregoing. 
  
 “Competitor” means any Person engaged, wholly or in part, in Competitive Services, including without limitation, Equifax Inc., Vital, Electronic Data Systems Corporation, Concord EFS,
Inc., First Data Corporation, Total System Services, Inc., Nova Corporation, Harbinger Corporation, First USA, Inc., First USA Paymentech, Inc., and Automatic Data Processing, Inc. 
 

 14 

  
 “Confidential Information” means all information
regarding the Company, its activities, business or clients that is the subject of reasonable efforts by the Company to maintain its confidentiality and that is not generally disclosed by practice or authority to persons not employed by the Company,
but that does not rise to the level of a Trade Secret. “Confidential Information” shall include, but is not limited to, financial plans and data concerning the Company; management planning information; business plans; operational methods;
market studies; marketing plans or strategies; product development techniques or plans; lists of current or prospective customers; details of customer contracts; current and anticipated customer requirements; past, current and planned research and
development; business acquisition plans; and new personnel acquisition plans. “Confidential Information” shall not include information that has become generally available to the public by the act of one who has the right to disclose such
information without violating any right or privilege of the Company. This definition shall not limit any definition of “confidential information” or any equivalent term under state or federal law. 
  
 “Determination Date” means the date of termination of Executive’s employment with the Company for
any reason whatsoever or any earlier date of an alleged breach of the Restrictive Covenants by Executive. 
  
 “Person” means any individual or any corporation, partnership, joint venture, limited liability company, association or other entity or enterprise. 
  
 “Principal or Representative” means a principal, owner, partner, shareholder, joint venturer, investor, member, trustee, director, officer,
manager, employee, agent, representative or consultant. 
  
 “Protected Customers”
means any Person to whom the Company has sold its products or services or solicited to sell its products or services during the twelve (12) months prior to the Determination Date. 
  
 “Protected Employees” means employees of the Company who were employed by the Company at any time within six (6) months prior to the
Determination Date. 
  
  “Restricted Period” means the Employment Period and
a period extending two (2) years from the termination of Executive’s employment with the Company. 
  
 “Restricted Territory” means the States of California, Florida, Georgia, Illinois, Maryland, Michigan, New York, Pennsylvania and Texas, plus Canada, the United Kingdom and South America. 
 

 15 

  
 “Restrictive Covenants” means the restrictive
covenants contained in Section 13(c) hereof. 
  
 “Trade Secret” means all information,
without regard to form, including, but not limited to, technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans,
distribution lists or a list of actual or potential customers, advertisers or suppliers which is not commonly known by or available to the public and which information: (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. Without
limiting the foregoing, Trade Secret means any item of Confidential Information that constitutes a “trade secret(s)” under the common law or applicable state law. 
  
 (c)  Restrictive Covenants. 
  
 (i)  Restriction on Disclosure and Use of Confidential Information and Trade Secrets.    Executive understands and agrees that the Confidential Information and
Trade Secrets constitute valuable assets of the Company and its affiliated entities, and may not be converted to Executive’s own use. Accordingly, Executive hereby agrees that Executive shall not, directly or indirectly, at any time during the
Restricted Period reveal, divulge, or disclose to any Person not expressly authorized by the Company any Confidential Information, and Executive shall not, directly or indirectly, at any time during the Restricted Period use or make use of any
Confidential Information in connection with any business activity other than that of the Company. Throughout the term of this Agreement and at all times after the date that this Agreement terminates for any reason, Executive shall not directly or
indirectly transmit or disclose any Trade Secret of the Company to any Person, and shall not make use of any such Trade Secret, directly or indirectly, for himself or for others, without the prior written consent of the Company. The parties
acknowledge and agree that this Agreement is not intended to, and does not, alter either the Company’s rights or Executive’s obligations under any state or federal statutory or common law regarding trade secrets and unfair trade practices.

  
 Anything herein to the contrary notwithstanding, Executive shall not be restricted from
disclosing or using Confidential Information that is required to be disclosed by law, court order or other legal process; provided, however, that in the event disclosure is required by law, Executive shall provide the Company with prompt notice of
such requirement so that the Company may seek an appropriate protective order prior to any such required disclosure by Executive. 
  
 (ii)  Non-solicitation of Protected Employees.    Executive understands and agrees that the relationship between the Company and each of its Protected Employees
constitutes a valuable asset of the Company and may not be converted to Executive’s own use. Accordingly, Executive hereby agrees that during the Restricted 
 

 16 

  
 Period Executive shall not directly or indirectly on Executive’s own behalf
or as a Principal or Representative of any Person or otherwise solicit or induce any Protected Employee to terminate his or her employment relationship with the Company or to enter into employment with any other Person. 
  
 (iii)  Restriction on Relationships with Protected Customers.    Executive
understands and agrees that the relationship between the Company and each of its Protected Customers constitutes a valuable asset of the Company and may not be converted to Executive’s own use. Accordingly, Executive hereby agrees that, during
the Restricted Period, Executive shall not, without the prior written consent of the Company, directly or indirectly, on Executive’s own behalf or as a Principal or Representative of any Person, solicit, divert, take away or attempt to solicit,
divert or take away a Protected Customer for the purpose of providing or selling Competitive Services; provided, however, that the prohibition of this covenant shall apply only to Protected Customers with whom Executive had Material Contact on the
Company’s behalf during the twelve (12) months immediately preceding the termination of his employment hereunder. For purposes of this Agreement, Executive had “Material Contact” with a Protected Customer if (a) he had business
dealings with the Protected Customer on the Company’s behalf; (b) he was responsible for supervising or coordinating the dealings between the Company and the Protected Customer; or (c) he obtained Trade Secrets or Confidential Information about
the customer as a result of his association with the Company. 
  
 (iv)  Non-competition
with the Company.    The parties acknowledge: (A) that Executive’s services under this Agreement require special expertise and talent in the provision of Competitive Services and that Executive will have substantial
contacts with customers, suppliers, advertisers and vendors of the Company; (B) that pursuant to this Agreement, Executive will be placed in a position of trust and responsibility and he will have access to a substantial amount of Confidential
Information and Trade Secrets and that the Company is placing him in such position and giving him access to such information in reliance upon his agreement not to compete with the Company during the Restricted Period; (C) that due to his management
duties, Executive will be the repository of a substantial portion of the goodwill of the Company and would have an unfair advantage in competing with the Company; (D) that due to Executive’s special experience and talent, the loss of
Executive’s services to the Company under this Agreement cannot reasonably or adequately be compensated solely by damages in an action at law; (E) that Executive is capable of competing with the Company; and (F) that Executive is capable of
obtaining gainful, lucrative and desirable employment that does not violate the restrictions contained in this Agreement. In consideration of the compensation and benefits being paid and to be paid by the Company to Executive hereunder, Executive
hereby agrees that, during the Restricted Period, Executive will not, without prior written consent of the Company, directly or indirectly seek or obtain a Competitive Position in the Restricted Territory with a Competitor; provided, however, that
the provisions of this Agreement shall not be deemed to prohibit the ownership by Executive of any securities of the Company or its affiliated entities or not more than five percent (5%) of any class of 
 

 17 

  
 securities of any corporation having a class of securities registered pursuant to
the Securities Exchange Act of 1934, as amended. 
  
 (d)  Enforcement of Restrictive
Covenants. 
  
 (i)  Rights and Remedies Upon Breach.    In
the event Executive breaches, or threatens to commit a breach of, any of the provisions of the Restrictive Covenants, the Company shall have the following rights and remedies, which shall be independent of any others and severally enforceable, and
shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity: 
  
 (A)  the right and remedy to enjoin, preliminarily and permanently, Executive from violating or threatening to violate the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any
court of competent jurisdiction, it being agreed that any breach or threatened breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company; and

  
 (B)  the right and remedy to require Executive to account for and pay over to the
Company all compensation, profits, monies, accruals, increments or other benefits derived or received by Executive as the result of any transactions constituting a breach of the Restrictive Covenants. 
  
 (ii)  Severability of Covenants.    Executive acknowledges and agrees that the
Restrictive Covenants are reasonable and valid in time and scope and in all other respects. The covenants set forth in this Agreement shall be considered and construed as separate and independent covenants. Should any part or provision of any
covenant be held invalid, void or unenforceable in any court of competent jurisdiction, such invalidity, voidness or unenforceability shall not render invalid, void or unenforceable any other part or provision of this Agreement. If any portion of
the foregoing provisions is found to be invalid or unenforceable by a court of competent jurisdiction because its duration, the territory, the definition of activities or the definition of information covered is considered to be invalid or
unreasonable in scope, the invalid or unreasonable term shall be redefined, or a new enforceable term provided, such that the intent of the Company and Executive in agreeing to the provisions of this Agreement will not be impaired and the provision
in question shall be enforceable to the fullest extent of the applicable laws. 
  
 14.  Arbitration.    Any claim or dispute arising under this Agreement (other than under Section 13) shall be subject to arbitration, and prior to commencing any court action, the parties agree
that they shall arbitrate all such controversies. The arbitration shall be conducted in Atlanta, Georgia, in accordance with the Employment Dispute Rules of the American Arbitration Association and the Federal Arbitration Act, 9 U.S.C. §1,
et. seq. The arbitrator(s) shall be authorized to award both liquidated and actual damages, in addition to injunctive relief, but no punitive damages. The arbitrator(s) may also award attorney’s fees and costs, without regard to any
restriction on the amount of such award 
 

 18 

  
 under Georgia or other applicable law. Such an award shall be binding and conclusive upon the parties
hereto, subject to 9 U.S.C. §10. Each party shall have the right to have the award made the judgment of a court of competent jurisdiction. 
  
 Initials of parties as to this Section 14: 
 Company:
                                      
 Executive:
                                     
  
 15.  Letter of Credit.    In order to ensure the payment of the severance benefit provided for in
Section 8(c)(ii) of this Agreement, immediately following the commencement of any action by a third party with the aim of effecting a Change in Control of the Company, or the publicly-announced threat by a third party to commence any such action,
the Company shall establish an irrevocable standby Letter of Credit issued by a national banking association in favor of Executive in the amount of the severance payment that would have been paid to Executive under Section 8(c)(ii) if the Date of
Termination had occurred on the date of commencement, or publicly-announced threat of commencement, of such action by the third party. Such Letter of Credit shall provide that the issuer thereof, subject only to Executive’s written
certification to such issuer that Executive is entitled to payment of the severance benefit pursuant to Section 8(c)(ii) of this Agreement and that the Company shall have failed to commence payment of such benefit to Executive, shall have the
unconditional obligation to pay the amount of such Letter of Credit to Executive in 24 equal monthly installments commencing on the first day of the month following the Date of Termination. In the event that subsequent to commencement of such
installment payments to Executive pursuant to such Letter of Credit (i) the Company and Executive shall mutually agree that Executive shall not have been entitled to payment of the severance benefit pursuant to Section 8(c)(ii) of this Agreement or
(ii) a court of competent jurisdiction shall finally adjudge Executive not to have been entitled to payment of such severance benefit and such judgment shall have been affirmed on appeal or shall not have been appealed within any time period
specified for the filing of an appeal, Executive shall promptly pay to the Company the total amount previously paid to Executive by the issuer of such Letter of Credit and no further payment shall be made to Executive pursuant to such Letter of
Credit. 
  
 16.  Assignment and Successors. 
  

(a)  This Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive
otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 
  
 (b)  This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
  
 (c)  The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business 
 

 19 

  
 and/or assets of the Company to assume expressly and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any
successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 
  
 17.  Miscellaneous. 
  
 (a)  Waiver.    Failure of either party to insist, in one or more instances, on performance by the other in strict accordance with the terms and conditions of this Agreement shall not be deemed a
waiver or relinquishment of any right granted in this Agreement or of the future performance of any such term or condition or of any other term or condition of this Agreement, unless such waiver is contained in a writing signed by the party making
the waiver. 
  
 (b)  Severability.    If any provision or
covenant, or any part thereof, of this Agreement should be held by any court to be invalid, illegal or unenforceable, either in whole or in part, such invalidity, illegality or unenforceability shall not affect the validity, legality or
enforceability of the remaining provisions or covenants, or any part thereof, of this Agreement, all of which shall remain in full force and effect. 
  
 (c)  Other Agents.    Nothing in this Agreement is to be interpreted as limiting the Company from employing
other personnel on such terms and conditions as may be satisfactory to it. 
  
 (d)  Entire Agreement.    Except as provided herein, this Agreement contains the entire agreement between the Company and Executive with respect to the subject matter hereof and, from and after
the Effective Date, this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof. 
  
 (e)  Governing Law.    Except to the extent preempted by federal law, and without regard to conflict of laws principles, the laws of the State of Georgia shall
govern this Agreement in all respects, whether as to its validity, construction, capacity, performance or otherwise. 
  
 (f)  Notices.    All notices, requests, demands and other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given if delivered or
three days after mailing if mailed, first class, certified mail, postage prepaid: 
  
 To Company:
        Global Payments Inc. 
                                 Four Corporate Square 
                                 Atlanta, Georgia 30329-2010 

                                Office of the Corporate Secretary

 

 20 

  
 To Executive:        
Jeffery C. McWey 
                                 9085 Nesbit Lakes Drive 

                                Alpharetta, GA 30022 

 
 Any party may change the address to which notices, requests, demands and other communications shall be delivered or mailed by
giving notice thereof to the other party in the same manner provided herein. 
  
 (g)  Amendments and Modifications.    This Agreement may be amended or modified only by a writing signed by both parties hereto, which makes specific reference to this Agreement. 

 21 

  
 IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this
Employment Agreement as of the date first above written. 
 
	 GLOBAL PAYMENTS INC.
 
	 
	 By:
 	 	 /s/ Paul R. Garcia
 

	  	 	 Paul R. Garcia
 
	  	 	 President and Chief Executive Officer
 
	  	 	  
	 EXECUTIVE:
 
	 By:
 	 	 /s/ Jeffery C. McWey
 

	  	 	 Jeffery C. McWey
 
	  	 	  
	  	 	  

 
  
  
  
  
  
  
 

 22 

  
 EXHIBIT A 
 Form of Release 
  
 This Release is granted effective as of the
             day of             ,             ,
by Jeffery C. McWey (“Executive”) in favor of Global Payments Inc. (the “Company”). This is the Release referred to that certain Employment Agreement effective as of October 26, 2001 by and between the Company and Executive (the
“Employment Agreement”). Executive gives this Release in consideration of the Company’s promises and covenants as recited in the Employment Agreement, with respect to which this Release is an integral part. 
  
 1.  Release of the Company.    Executive, for himself, his successors, assigns, attorneys, and all
those entitled to assert his rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, employees, agents, parent corporations, subsidiaries, affiliates, estates, successors,
assigns and attorneys (“the Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements, promises,
demands, claims for attorney’s fees and costs, or liabilities whatsoever, in law or in equity, which Executive ever had or now has against the Released Parties, including any claims arising by reason of or in any way connected with any
employment relationship which existed between the Company or any of its parents, subsidiaries, affiliates, or predecessors, and Executive. It is understood and agreed that this Release is intended to cover all actions, causes of action, claims or
demands for any damage, loss or injury, which may be traced either directly or indirectly to the aforesaid employment relationship, or the termination of that relationship, that Executive has, had or purports to have, from the beginning of time to
the date of this Release, whether known or unknown, that now exists, no matter how remotely they may be related to the aforesaid employment relationship including but not limited to claims for employment discrimination under federal or state law,
except as provided in Paragraph 2; claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2000(e), et seq. or the Americans With Disabilities Act, 42 U.S.C. § 12101 et seq.; claims for statutory or
common law wrongful discharge, including any claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201 et seq.; claims for attorney’s fees, expenses and costs; claims for defamation; claims for wages or vacation pay;
claims for benefits, including any claims arising under the Executive Retirement Income Security Act, 29 U.S.C. § 1001, et seq.; and provided, however, that nothing herein shall release the Company of its obligations to Executive
under the Employment Agreement or any other contractual obligations between the Company or its affiliates and Executive, or any indemnification obligations to Executive under the Company’s bylaws, certificate of incorporation, Delaware law or
otherwise. 
  
 2.  Release of Claims Under Age Discrimination in Employment
Act.    Without limiting the generality of the foregoing, Executive agrees that by executing this Release, he has released and waived any and all claims he has or may have as of the date of this Release for age discrimination
under the Age Discrimination in Employment Act, 29 U.S.C. § 621, et seq. It is understood that Executive is advised to consult with an attorney prior to executing this Release; that he in fact has consulted a knowledgeable, 

 23 

  
 competent attorney regarding this Release; that he may, before executing this Release, consider this
Release for a period of twenty-one (21) calendar days; and that the consideration he receives for this Release is in addition to amounts to which he was already entitled. It is further understood that this Release is not effective until seven (7)
calendar days after the execution of this Release and that Executive may revoke this Release within seven (7) calendar days from the date of execution hereof. 
  
 Executive agrees that he has carefully read this Release and is signing it voluntarily. Executive acknowledges that he has had twenty one (21) days from receipt of this Release to review it prior to
signing or that, if Executive is signing this Release prior to the expiration of such 21-day period, Executive is waiving his right to review the Release for such full 21-day period prior to signing it. Executive has the right to revoke this release
within seven (7) days following the date of its execution by him. However, if Executive revokes this Release within such seven (7) day period, no severance benefit will be payable to him under the Employment Agreement and he shall return to the
Company any such payment received prior to that date. 
  
 EXECUTIVE HAS CAREFULLY READ THIS RELEASE AND ACKNOWLEDGES
THAT IT CONSTITUTES A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AGAINST THE COMPANY UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. EXECUTIVE ACKNOWLEDGES THAT HE HAS HAD A FULL OPPORTUNITY TO CONSULT WITH AN ATTORNEY OR OTHER ADVISOR OF HIS
CHOOSING CONCERNING HIS EXECUTION OF THIS RELEASE AND THAT HE IS SIGNING THIS RELEASE VOLUNTARILY AND WITH THE FULL INTENT OF RELEASING THE COMPANY FROM ALL SUCH CLAIMS. 
 

 24

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