Document:

Prepared by R.R. Donnelley Financial -- Investor Rights Agreement, dated as of May 13, 2004

 Exhibit 10.21 
  
 GCA HOLDINGS, INC. 
 INVESTOR RIGHTS AGREEMENT 
  
 THIS AGREEMENT is
made as of May 13, 2004 by and among GCA Holdings, L.L.C., a Delaware limited liability company that shall be converted into a Delaware corporation named GCA Holdings, Inc. (the “Company”), and the Persons listed on the Schedule
of Investors attached hereto (each, an “Investor” and collectively, the “Investors”). 
  
 WHEREAS, the parties to this Agreement are parties to a Securities Purchase and Exchange Agreement, dated as of April 21, 2004, as amended (the
“Securities Purchase Agreement”), pursuant to which, among other things, certain Investors shall purchase equity interests in the Company that shall become, upon the conversion of the Company to a corporation, shares of the
Company’s Class A Preferred Stock, par value $.01 per share (the “Class A Preferred”) and shares of the Company’s Class B Preferred Stock, par value $.01 per share (the “Class B Preferred,” and, together
with the Class A Preferred, the “Preferred Stock”) and, for purposes of this Agreement, the shares of Preferred Stock that are issued upon conversion of the Company from a limited liability company to a corporation shall be deemed
to have been issued pursuant to the Securities Purchase Agreement); 
  
 WHEREAS, in order to induce the Investors to enter into the Securities Purchase Agreement and consummate the transactions contemplated thereby, the Company has agreed to enter into this Agreement for the benefit of the Investors;

  
 WHEREAS, the execution and delivery of this Agreement is a
condition to the Closing under the Securities Purchase Agreement; and 
  
 WHEREAS, unless otherwise provided in this Agreement, capitalized terms used herein shall have the meanings set forth in Section 2 hereof. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
  
 Section 1. Covenants. 
  
 1A. Financial Statements and Other Information. The Company shall deliver to each Investor (so long as such Investor and/or its Affiliates holds any Preferred Stock or Common Stock) and to each holder of at least 5% of the
outstanding Preferred Stock or Underlying Common Stock or at least 5% of the outstanding Common Stock (calculated on a fully-diluted basis): 
  
 (i) as soon as available but in any event within 30 days after the end of each monthly accounting period in each fiscal year, unaudited
consolidated statements of income and cash flows of the Company and its Subsidiaries for such monthly period and for the period from the beginning of the fiscal year to the end of such month, and unaudited consolidated balance sheets of the Company
and its Subsidiaries as of the end of such monthly period, setting forth for each monthly period in each fiscal year comparisons to the Company’s budget and to the corresponding period in the preceding fiscal year, and all such statements shall
be prepared in accordance with GAAP, consistently applied (except for the absence of footnote disclosures with respect thereto and subject to changes resulting from normal year-end adjustments for recurring accruals); 
  

 (ii) within 90 days after the end of each fiscal year, consolidating and consolidated
statements of income and cash flows of the Company and its Subsidiaries for such fiscal year, and consolidating and consolidated balance sheets of the Company and its Subsidiaries as of the end of such fiscal year, all prepared in accordance with
GAAP, consistently applied, and accompanied by (a) with respect to the consolidated portions of such statements, an opinion of a “Big Four” accounting firm selected by the Company’s board of directors, (b) a copy of such firm’s
annual management letter to the Company’s board of directors, if any, and (c) in each case, comparisons to the Company’s annual budget and to the preceding fiscal year; 
  
 (iii) promptly upon receipt thereof, any additional reports, management letters or other detailed
information concerning significant aspects of the Company’s operations or financial affairs given to the Company by its independent accountants (and not otherwise contained in other materials provided hereunder); 
  
 (iv) at least 30 days but no more than 60 days prior to the
beginning of each fiscal year, an annual budget and operating plan prepared on a monthly basis for the Company and its Subsidiaries for such fiscal year (displaying anticipated statements of income and cash flows and balance sheets), and promptly
upon preparation thereof any other significant budgets or operating plans prepared by the Company and any revisions of such annual or other budgets or operating plans; 
  
 (v) copies of all certificates, notices and other information delivered or required to be delivered to the
Administrative Agent (as defined in the Senior Credit Agreement) under the Senior Credit Agreement at the same time that such certificates, notices and other information are delivered or required to be delivered to the Administrative Agent; and

  
 (vi) with reasonable promptness, such other
information and financial data concerning the Company and its Subsidiaries as any such Person may reasonably request. 
  
 Each of the financial statements referred to in subparagraphs (i) and (ii) above shall present fairly in all material respects the financial condition and results of
operations and cash flows of the Company and its Subsidiaries as of the dates and for the periods set forth therein, subject in the case of the unaudited financial statements to the absence of footnote disclosures with respect thereto and changes
resulting from normal year-end adjustments for recurring accruals. Notwithstanding the foregoing, the provisions of this paragraph 1A and paragraph 1B below shall cease to be effective so long as the Company is subject to the periodic reporting
requirements of the Securities Exchange Act and continues to comply with such requirements. Except as otherwise required by law or judicial order or decree or by any governmental agency or authority, each Person entitled to receive information
regarding the Company and its Subsidiaries under this paragraph 1A or paragraph 1B below shall use the same standards and controls which such Person uses to maintain the confidentiality of its own confidential information (but in no event less than
reasonable care) to maintain the confidentiality of all nonpublic information of the Company or any of its Subsidiaries obtained by it pursuant to this paragraph 1A or paragraph 1B below and all such nonpublic proprietary information shall be used
solely for purposes directly related to such Person’s equity interest in the Company; provided that, notwithstanding the foregoing or the provisions of any confidentiality agreement in favor of the Company, each such Person may
disclose such information in connection with the sale or transfer of any Preferred Stock or Common Stock if such Person’s transferee agrees in writing to be bound by the provisions hereof. For purposes of this Agreement and the Registration
Agreement, all holdings of Preferred Stock and Underlying Common Stock by Persons who are Affiliates of each other shall be aggregated for purposes of meeting any threshold tests under this Agreement and the Registration Agreement. 
  

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 1B. Inspection of Property. The Company shall permit any representatives designated by any
Investor that was an original party hereto (so long as such Investor and/or its Affiliates holds any Preferred Stock or Common Stock) or any holder of at least 10% of the outstanding Preferred Stock or Underlying Common Stock or at least 10% of the
outstanding Common Stock (calculated on a fully-diluted basis), upon reasonable notice and during normal business hours and at such other times as any such holder may reasonably request, to (i) visit and inspect any of the properties of the Company
and its Subsidiaries, (ii) examine the corporate and financial records of the Company and its Subsidiaries and make copies thereof and (iii) consult with the directors, officers, key employees and independent accountants of the Company and its
Subsidiaries concerning the affairs, finances and accounts of the Company and its Subsidiaries. For purposes of this paragraph 1B, in addition to the Investors listed on the Schedule of Investors as of the date hereof, each other Summit
Investor, each other Tudor Investor, GM Capital Partners I, L.P. and HarbourVest Partners VI-Direct Fund, L.P. shall each be deemed to be original parties to this Agreement. The presentation of an executed copy of this Agreement by any Investor that
was an original party hereto, along with reasonable evidence of compliance with the ownership thresholds set forth immediately above, to the Company’s independent accountants shall constitute the Company’s permission to its independent
accountants to participate in discussions with such Persons. 
  
 1C. Certain General Restrictions. Without the prior written consent of M&C (so long as M&C holds at least 20% of the outstanding Common Stock calculated on a fully-diluted basis) and the prior written consent of the holders
of a majority of the outstanding Preferred Stock (so long as the Summit Investors and the Tudor Investors hold in the aggregate at least 20% of the Underlying Common Stock), and, with respect to subparagraph (v) below, without the prior written
consent of the Tudor Investors holding a majority of the outstanding Preferred Stock (so long as the Tudor Investors hold in the aggregate at least 50% of the Preferred Stock held by the Tudor Investors on the date hereof), prior to the consummation
of an Initial Public Offering or a Sale of the Company (at which time the provisions of this paragraph 1C shall automatically terminate and shall be of no further force and effect) the Company shall not (and, in the case of subparagraph (iii) below,
M&C, the Summit Investors and the Tudor Investors shall not): 
  
 (i) except pursuant to a public offering registered under the Securities Act in which the aggregate price paid by the public for the shares shall be at least $50,000,000, issue or sell any additional capital stock or
other equity securities to any Person unless at the time thereof there exists a default or potential event of default under any of the Company’s or any of its Subsidiaries’ financing agreements, except that the Company may establish an
employee stock option plan or employee stock ownership plan that shall dilute all of the Company’s stockholders on a pro rata basis so long as the total authorized number of shares thereunder does not exceed 5% of the outstanding Common Stock
(assuming conversion of the Preferred Stock and the issuance of all shares authorized under such plan) at the time of the adoption of such plan and so long as no single participant under such plan shall receive options or other rights thereunder to
more than 2% of the outstanding Common Stock (assuming conversion of the Preferred Stock and the issuance of all shares authorized under such plan) calculated as of the date of the adoption of such plan; 
  
 (ii) acquire, or permit any of its Subsidiaries to acquire,
any company or business (whether by a purchase of assets, purchase of stock, merger or otherwise) involving an aggregate consideration (including, without limitation, the assumption of funded indebtedness whether direct or indirect) in any one
transaction or series of related transactions greater than 10% of the Company’s consolidated net revenues for the twelve-month period immediately preceding the consummation of such transaction; 
  

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 (iii) (a) enter into an agreement for the Sale of the Company or enter into an
exclusivity agreement with respect to a Sale of the Company without providing at least 30 days prior written notice thereof to each of M&C and the holders of the outstanding Preferred Stock or (b) consummate a Sale of the Company to any Person
that is an Affiliate of M&C or with respect to which any of the Summit Investors or any of the Tudor Investors directly or indirectly hold a greater than 10% equity interest or possess the right to elect a majority of the board of directors or
similar governing body; 
  
 (iv) incur, or permit
any of its Subsidiaries to incur, any indebtedness for borrowed money (other than indebtedness relating to ATM vault cash, off-balance sheet financing and similar obligations incurred in the ordinary course of business) or enter into any agreement,
commitment, assumption or guarantee with respect thereto if such particular financing involves an amount equal to the greater of (a) $25,000,000 and (b) an amount that would result in the Company’s Leverage Ratio being greater
than the Company’s Leverage Ratio immediately following the consummation of the transactions contemplated in the Securities Purchase Agreement; 
  
 (v) enter into, amend, modify or supplement, or permit any of its Subsidiaries to enter into, amend, modify or supplement, any agreement,
transaction, commitment or arrangement with any Investor or any Investor’s officers, directors, stockholders or Affiliates, except as otherwise contemplated by this Agreement or any of the other agreements executed and delivered in connection
herewith; or 
  
 (vi) increase the authorized
size of the Company’s board of directors above seven (7) members. 
  
 1D. Certain Negative Covenants. So long as the Summit Investors and the Tudor Investors hold in the aggregate at least 20% of the Underlying Common Stock, prior to the consummation of a Qualified Public Offering or a Sale of the
Company (at which time the provisions of this paragraph 1D shall automatically terminate and shall be of no further force and effect), the Company shall not (without the prior written consent of the holders of a majority of the outstanding Preferred
Stock): 
  
 (i) directly or indirectly declare or
pay, or permit any of its Subsidiaries to declare or pay, any dividends or make any distributions upon any of its capital stock or other equity securities, except that the Company may declare and pay dividends payable in shares of its Common Stock
issued upon the outstanding shares of its Common Stock and any of its Subsidiaries may declare and pay dividends or make distributions to the Company or any Wholly-Owned Subsidiary; 
  
 (ii) directly or indirectly redeem, purchase or otherwise acquire, or permit any of its Subsidiaries to
redeem, purchase or otherwise acquire, any of the Company’s or any of its Subsidiaries’ capital stock or other equity securities (including, without limitation, warrants, options and other rights to acquire such capital stock or other
equity securities), other than repurchases of Common Stock from former employees of the Company and its Subsidiaries upon termination of employment either at cost or, if for other than cost, for an aggregate purchase price of no more than $250,000
in any twelve-month period pursuant to arrangements approved by the Company’s board of directors; or directly or indirectly redeem, purchase or make any payments with respect to any stock appreciation rights, phantom stock plans or similar
rights or plans; 
  
 (iii) authorize, issue or
enter into any agreement providing for the issuance (contingent or otherwise) of (a) any notes or debt securities containing equity features (including, 

  

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without limitation, any notes or debt securities convertible into or exchangeable for capital stock or other equity securities, issued in connection with the
issuance of capital stock or other equity securities or containing profit participation features), (b) any capital stock or other equity securities (or any securities convertible into or exchangeable for any capital stock or other equity securities)
which are senior to or on a parity with the Preferred Stock with respect to the payment of dividends, redemptions, distributions upon liquidation or otherwise, or (c) any additional shares of Preferred Stock; 
  
 (iv) make, or permit any of its Subsidiaries to make, any
loans or advances to, guarantees for the benefit of, or Investments in, any Person (other than a Wholly-Owned Subsidiary established under the laws of a jurisdiction of the United States or any of its territorial possessions), except for (a)
reasonable advances to employees in the ordinary course of business (but expressly prohibiting any loans or the arranging of any loans to or for the benefit of any employees for any purpose), (b) acquisitions as described in and as otherwise
permitted pursuant to subparagraph (viii) below, (c) prepaid commissions paid to third party commercial customers in the ordinary course of business consistent with past practice not exceeding $1,000,000 to any single customer or group of related
customers in any twelve-month period and not exceeding $2,500,000 in the aggregate to all customers in any twelve-month period, (d) Investments having a stated maturity no greater than one year from the date the Company or any of its Subsidiaries
makes such Investment in (1) obligations of the United States government or any agency thereof or obligations guaranteed by the United States government, (2) certificates of deposit of commercial banks having combined capital and surplus of at least
$50,000,000 or (3) commercial paper with a rating of at least “Prime-1” by Moody’s Investors Service, Inc., and (e) Investments by GCA in QuikPlay after the date hereof to the extent constituting Mandatory Capital Contributions (as
defined in the QuikPlay LLC Agreement) pursuant to the terms of the QuikPlay LLC Agreement (as in effect as of the date hereof); 
  
 (v) merge or consolidate with any Person or, except as permitted by subparagraph (viii) below, permit any of its Subsidiaries to merge or
consolidate with any Person (other than a merger of a Wholly-Owned Subsidiary with another Wholly-Owned Subsidiary); 
  
 (vi) sell, lease or otherwise dispose of, or permit any of its Subsidiaries to sell, lease or otherwise dispose of, more than 5% of the
consolidated assets (including, without limitation, the capital stock or other ownership interests of any of its Subsidiaries) of the Company and its Subsidiaries (computed on the basis of book value, determined in accordance with GAAP consistently
applied, contribution to the Company’s revenues or earnings, or fair market value, determined by the Company’s board of directors in its reasonable good faith judgment) in any transaction or series of related transactions; or sell or
permanently dispose of any of its or any of its Subsidiaries’ material Intellectual Property Rights; 
  
 (vii) liquidate, dissolve or effect a recapitalization or reorganization in any form of transaction (including, without limitation, any
reorganization into a limited liability company, a partnership or any other non-corporate entity which is treated as a partnership for federal income tax purposes, or the formation of a parent holding company for the Company); 
  
 (viii) acquire, or permit any of its Subsidiaries to
acquire, any interest in any company or business (whether by a purchase of assets, purchase of stock, merger or otherwise), or enter into any joint venture that is operated through a separate legal entity or its functional equivalent (but excluding
commercial arrangements entered into in the ordinary course of business), involving an aggregate consideration paid by the Company or any of its Subsidiaries (including, without limitation, the assumption of liabilities whether direct or indirect)
exceeding 

  

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$1,000,000 in any one transaction or series of related transactions or exceeding $1,000,000 in any twelve-month period; 
  
 (ix) enter into, or permit any of its Subsidiaries to enter
into, the ownership, active management or operation of any business other than the Business (as defined in the Securities Purchase Agreement); 
  
 (x) alter, amend, modify or repeal the Company’s or any of its Subsidiary’s certificate of incorporation or bylaws or other
constituent documents, or file any resolution of the Company’s board of directors with the Delaware Secretary of State; 
  
 (xi) enter into, amend, modify or supplement, or permit any of its Subsidiaries to enter into, amend, modify or supplement, any agreement,
transaction, commitment or arrangement with any of its or any of its Subsidiaries’ officers, directors, stockholders or Affiliates or with any individual related by blood, marriage or adoption to any such individual or with any entity in which
any such Person or individual owns a beneficial interest, except (without duplication) for (a) customary employment arrangements (but not employment agreements) and benefit programs on reasonable terms as approved by the Company’s board of
directors (but with it being understood that in no event shall the Company or any of its Subsidiaries enter into any employment or other compensatory or benefit arrangement with Karim Maskatiya or Robert Cucinotta without the prior written consent
required hereunder), or (b) as otherwise expressly contemplated by this Agreement or the Registration Agreement or the Stockholders Agreement executed and delivered in connection herewith; 
  
 (xii) increase, or permit any of its Subsidiaries to
increase, any compensation (including salary, bonuses, benefits and other forms of current and deferred compensation) payable to any officer or director of the Company or any of its Subsidiaries above the amounts set forth on Exhibit A
attached hereto, except for increases approved by the Company’s board of directors; 
  
 (xiii) establish or acquire or permit (a) any Subsidiaries other than Wholly-Owned Subsidiaries (except for QuikPlay) or (b) unless
approved by the Company’s board of directors (including the affirmative vote of the directors elected by the holders of a majority of the Preferred Stock), any Subsidiaries organized outside of the United States and its territorial possessions
(except for CashCall Systems, Inc.); or issue, sell or otherwise transfer (by dividend or distribution or otherwise), or permit any of its Subsidiaries to issue, sell or otherwise transfer (by dividend or distribution or otherwise), any shares of
the capital stock or other ownership interests, or rights to acquire shares of the capital stock or other ownership interests, of any of its Subsidiaries to any Person other than the Company or a Wholly-Owned Subsidiary; 
  
 (xiv) create, incur, assume or suffer to exist, or permit
any of its Subsidiaries to create, incur, assume or suffer to exist, Indebtedness exceeding an aggregate principal amount of $525,000,000 outstanding at any time on a consolidated basis (and with it being understood that such permitted aggregate
amount (x) includes the Transaction Debt as of the date hereof, but that such permitted aggregate amount shall be reduced from time to time by all principal payments on the Transaction Debt and all commitment reductions on the
revolving credit loan in respect of the Senior Debt and (y) excludes Indebtedness that may be represented from time to time by ATM vault cash and similar obligations incurred by the Company and its Subsidiaries in the ordinary course of business
consistent with past practice); create, incur, assume or suffer to exist, or permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Liens other than Permitted Liens; or amend, modify or waive any provision under any
agreement or instrument relating to 

  

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funded Indebtedness that would (a) increase the rates of interest applicable to the Indebtedness thereunder, (b) increase any fees payable thereunder, (c)
extend the scheduled maturity date of any principal payment thereunder or advance or shorten any principal or interest payment dates thereunder or (d) extend or advance any revolving loan commitment reduction or termination dates thereunder;

  
 (xv) make, or permit any of its Subsidiaries
to make, any capital expenditures (including, for purposes of this subparagraph (xvi) and without limitation, payments with respect to capitalized leases, as determined in accordance with GAAP consistently applied), exceeding $5,000,000 in the
aggregate on a consolidated basis during any fiscal year; or 
  
 (xvi) consummate an initial public offering that does not constitute a Qualified Public Offering. 
  
 1E. Certain Affirmative Covenants. So long as the Summit Investors and the Tudor Investors hold in the aggregate at least 20% of the Underlying
Common Stock, prior to the consummation of a Qualified Public Offering or a Sale of the Company (at which time the provisions of this paragraph 1E shall automatically terminate and shall be of no further force and effect), the Company shall, and
shall cause each of its Subsidiaries to (unless it has received the prior written consent of the holders of a majority of the outstanding Preferred Stock): 
  
 (i) maintain the key-man life insurance policies referred to in the Securities Purchase Agreement (and not borrow against, pledge, assign,
modify, cancel or surrender such policy) and maintain officers and directors liability insurance coverage of at least $10,000,000; 
  
 (ii) maintain all material Intellectual Property Rights necessary to the conduct of their respective businesses; 
  
 (iii) use their commercially reasonable best efforts to
avoid (a) the filing by the Company or any of its Subsidiaries for a gaming license, or the taking of any other action the result of which is that any Investor or any of its Affiliates could reasonably be expected to be required to procure or apply
for a gaming license or a finding of suitability with any gaming regulatory authority in any state, tribal jurisdiction, foreign jurisdiction or other jurisdiction in which the Company or any of its Subsidiaries operate or (b) otherwise becoming
subject to gaming regulations, the result of which is that any Investor or any of its Affiliates could reasonably be expected to be required to procure or apply for a gaming license or a finding of suitability with any gaming regulatory authority in
any state, tribal jurisdiction, foreign jurisdiction or other jurisdiction (in each case, other than requests for waivers of qualification or suitability that are not unduly burdensome to such Investor or any of its Affiliates as determined in such
Investor’s sole discretion); 
  
 (iv) enter
into and maintain nondisclosure, non-solicitation and non-competition agreements with its key employees in the form of Exhibit B attached hereto; and 
  
 (v) cause GCA and each of its Wholly-Owned Subsidiaries that is a limited liability company to be converted to a corporation as soon as
reasonably practicable (and in any event within 30 days) following the Closing under the Securities Purchase Agreement pursuant to a “Permitted C-Corp Reorganization” under the Senior Credit Agreement and the Indenture. 
  
 1F. Current Public Information. At all times after the Company has
filed a registration statement with the Securities and Exchange Commission pursuant to the requirements of 

  

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either the Securities Act or the Securities Exchange Act, the Company shall use it best efforts to file all reports required to be filed by it under the
Securities Act and the Securities Exchange Act and the rules and regulations adopted by the Securities and Exchange Commission thereunder, all to the extent required to enable such holders to sell Restricted Securities pursuant to (i) Rule 144
adopted by the Securities and Exchange Commission under the Securities Act (as such rule may be amended from time to time) or any similar rule or regulation hereafter adopted by the Securities and Exchange Commission or (ii) a registration statement
on Form S-2 or S-3 or any similar registration form hereafter adopted by the Securities and Exchange Commission. Upon request, the Company shall deliver to any holder of Restricted Securities a written statement as to whether it has complied with
such requirements. 
  
 1G. Amendment of Other Agreements.
The Company shall not (and shall not permit its Subsidiaries to) amend, modify or waive any provision of any stock purchase or option agreement or employment or other agreement entered into between the Company or any of its Subsidiaries and any of
their executive officers or key employees or any of the Related Party Agreements without the prior written consent of the Company’s board of directors, including, with respect to the Related Party Agreements, the affirmative vote of the
directors elected by the holders of a majority of the Preferred Stock. The Company shall (or shall cause its Subsidiaries to) enforce the provisions of the Related Party Agreements unless it is otherwise directed by the Company’s board of
directors, including the affirmative vote of the directors elected by the holders of a majority of the Preferred Stock. 
  
 Section 2. Definitions. For the purposes of this Agreement, the following terms have the meanings set forth below: 
  
 “Affiliate” of any particular Person means any other Person
controlling, controlled by or under common control with such particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of
voting securities, contract or otherwise, and such control will be presumed if any Person owns ten percent (10%) or more of the voting capital stock or other ownership interests, directly or indirectly, of any other Person, and with respect to the
Tudor Investors the term “Affiliate” shall also include the Tudor Related Entities. 
  
 “Affiliated Group” has the meaning given it in Section 1504 of the Internal Revenue Code of 1986, as amended, and in addition includes any analogous combined, consolidated or unitary group, as defined
under any applicable state, local or foreign income tax law. 
  
 “Common Stock” means shares of the Company’s common stock, par value $.01 per share. 
  
 “GAAP” means United States generally accepted accounting principles. 
  
 “GCA” means Global Cash Access, L.L.C., a Delaware limited liability company and a Wholly-Owned Subsidiary.

  
 “Governmental Entity” has the meaning given
to such term in the Securities Purchase Agreement. 
  
 “Indebtedness” means at any particular time, without duplication, (i) all indebtedness or other obligations of the Company or any of its Subsidiaries for borrowed money, whether current, short-term or long-term, secured or
unsecured, (ii) all obligations of the Company or any of its Subsidiaries evidenced by any note, bond, debenture or other similar instrument or debt security, (iii) all commitments by which the Company or any of its Subsidiaries assures a creditor
against loss (including contingent 

  

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reimbursement obligations with respect to letters of credit and bankers’ acceptances), (iv) all off-balance sheet financings of the Company or any of
its Subsidiaries, including synthetic leases and project financing, (v) all liabilities of the Company and its Subsidiaries with respect to interest rate swaps, collars, caps and similar hedging obligations, (vi) all obligations under capitalized
leases, (vii) any indebtedness secured by a Lien on the Company’s or any of its Subsidiaries’ assets, (viii) all guarantees of the Company or any of its Subsidiaries in connection with any of the foregoing and any other indebtedness
guaranteed in any manner by the Company or any of its Subsidiaries (including guarantees in the form of an agreement to repurchase or reimburse), and (ix) all accrued interest, prepayment premiums or penalties related to any of the foregoing.

  
 “Indenture” means that certain Indenture,
dated as of March 10, 2004, by and among GCA, Global Cash Access Finance Corporation, CCI Acquisition, LLC, Central Credit, LLC and The Bank of New York relating to those certain 83⁄4% senior subordinated notes due 2012 in the original principal
amount of $235,000,000, as may be amended, modified or supplemented from time to time. 
  
 “Intellectual Property Rights” has the meaning given to such term in the Securities Purchase Agreement. 
  
 “Initial Public Offering” means the sale in an underwritten public offering registered under the Securities Act of shares of the
Company’s Common Stock. 
  
 “Investment” as
applied to any Person means (i) any direct or indirect purchase or other acquisition by such Person of any notes, obligations, instruments, stock, securities or ownership interest (including partnership interests and joint venture interests) of any
other Person and (ii) any capital contribution by such Person to any other Person. 
  
 “Leverage Ratio” has the meaning given to such term in the Senior Credit Agreement. 
  
 “Liens” has the meaning given to such term in the Securities Purchase Agreement. 
  
 “M&C” means M&C International, a Nevada corporation.

  
 “Permitted Liens” shall mean (i) statutory
liens for current taxes or other governmental charges not yet due and payable or the amount or validity of which is being contested in good faith by appropriate proceedings by the Company and for which appropriate reserves have been established in
accordance with GAAP; (ii) mechanics’, carriers’, workers’, repairers’ and similar statutory liens arising or incurred in the ordinary course of business for amounts which are not delinquent and which are not, individually or in
the aggregate, significant; (iii) zoning, entitlement, building and other land use regulations imposed by governmental agencies having jurisdiction over the leased real property of the Company or any of its Subsidiaries which are not violated by the
current use and operation of such leased real property; (iv) covenants, conditions, restrictions, easements and other similar matters of record affecting title to the leased real property of the Company or any of its Subsidiaries which do not
materially impair the occupancy or use of such leased real property for the purposes for which it is currently used or proposed to be used in connection with the Company’s or any of its Subsidiaries’ business and (v) Liens securing the
Senior Debt and any other Indebtedness permitted to be incurred hereunder. 
  
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a
governmental entity or any department, agency or political subdivision thereof. 
  

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 “Qualified Public Offering” has the meaning given to such term in the Company’s
certificate of incorporation. 
  
 “QuikPlay”
means QuikPlay, LLC, a Delaware limited liability company. 
  
 “QuikPlay LLC Agreement” means that certain limited liability company agreement of QuikPlay, dated December 6, 2000, among QuikPlay, GCA and International Game Technology. 
  
 “Registration Agreement” has the meaning given to such term
in the Securities Purchase Agreement. 
  
 “Related Party
Agreements” means the Amended and Restated Agreement for Electronic Payment Processing among GCA, USA Payment Systems (“USAPS”) and USA Payments (“USAP”); the Professional Services Agreement between GCA and
Infonox on the Web (“Infonox”); the Consulting Agreement between QuikPlay and Infonox; the Development Agreement between QuikPlay and Infonox; the Patent License Agreement between GCA and USAP; the Amended and Restated Software
License Agreement between GCA and Infonox; and that certain letter agreement, dated as of May 13, 2004, by and among the Company, GCA, USAPS, USAP, Infonox, Karim Maskatiya and Robert Cucinotta, each as set forth on the Contracts Schedule
attached to the Securities Purchase Agreement. 
  
 “Restricted Securities” means (i) the Common Stock held by any Investor, (ii) the Preferred Stock issued pursuant to the Securities Purchase Agreement, (iii) the Common Stock issued upon conversion of the Preferred Stock
and (iv) any securities issued with respect to the securities referred to in clauses (i), (ii) or (iii) above by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other
reorganization. As to any particular Restricted Securities, such securities shall cease to be Restricted Securities when they have (a) been effectively registered under the Securities Act and disposed of in accordance with the registration statement
covering them or (b) been distributed to the public through a broker, dealer or market maker on a securities exchange or in the over-the-counter market pursuant to Rule 144 (or any similar provision then in force) under the Securities Act.

  
 “Sale of the Company” means a sale of the
Company pursuant to which one or more Persons acquire in any transaction or series of related transactions (i) all or substantially all of the outstanding capital stock of the Company (whether by merger, consolidation, reorganization or sale or
transfer of the Company’s capital stock or otherwise) or (ii) all or substantially all of the Company’s assets determined on a consolidated basis. 
  
 “Securities Act” means the Securities Act of 1933, as amended, or any similar federal law then in force. 
  
 “Securities and Exchange Commission” includes any
governmental body or agency succeeding to the functions thereof. 
  
 “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal law then in force. 
  
 “Senior Debt” means the Indebtedness outstanding under that certain Credit Agreement, dated March 10, 2004, among the Company, GCA, the
lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender (as such agreement is in effect as of the date hereof, the “Senior Credit Agreement”). 
  

 - 10 - 

 “Stockholders Agreement” has the meaning given to such term in the Securities Purchase
Agreement. 
  
 “Subsidiary” has the meaning given
to such term in the Securities Purchase Agreement. 
  
 “Summit Investors” means Summit Ventures VI-A, L.P., Summit Ventures VI-B, L.P., Summit VI Advisors Fund, L.P., Summit VI Entrepreneurs Fund, L.P., Summit Investors VI, L.P. and Summit/GCA Holdings, LLC and any other
investment fund directly or indirectly administered or managed by Summit Partners, L.P. 
  
 “Tudor Investors” means Tudor Ventures II, L.P., The Altar Rock Fund L.P., The Raptor Global Portfolio Ltd., Tudor Proprietary Trading, L.L.C., The Tudor BVI Global Portfolio, Ltd. and any entity for
which Tudor Investment Corporation or an Affiliate thereof acts as general partner and/or investment adviser, Tudor Investment Corporation, Tudor Group Holdings LLC, each of their respective Affiliates, or any Affiliate of Affiliated Group of Tudor
Investment Corporation and/or Tudor Group Holdings LLC and/or its Affiliates. 
  
 “Tudor Related Entities” means, with respect to the Tudor Investors, any entities for which any of the Tudor Investors or any of its Affiliates serve as general partner and/or investment adviser or in
a similar capacity, and all mutual funds or other pooled investment vehicles or entities under the control or management of any of the Tudor Investors or the general partner or investment adviser thereof, or any Affiliate of any of them. 

 
 “Underlying Common Stock” means (i) the Common Stock
issued or issuable upon conversion of the Preferred Stock and (ii) any Common Stock or other securities issued or issuable with respect to the securities referred to in clause (i) above by way of stock dividend or stock split or in connection with a
combination of shares, recapitalization, merger, consolidation or other reorganization. 
  
 “Wholly-Owned Subsidiary” means a Subsidiary of which all of the outstanding capital stock or other ownership interests are owned by the Company or another Wholly-Owned Subsidiary of the Company
(other than, in the case of a Subsidiary organized under the laws of a foreign jurisdiction, any capital stock or other ownership interests that are not so owned due solely to any foreign qualifying share or similar local law requirements of such
foreign jurisdiction). 
  
 Section 3. Miscellaneous.

  
 3A. Expenses. The Company shall pay, and hold each
Investor and all holders of Preferred Stock and Underlying Common Stock harmless against liability for the payment of, (i) the reasonable fees and expenses incurred with respect to any amendments or waivers (whether or not the same become effective)
under or in respect of this Agreement, the agreements contemplated hereby, or the Company’s certificate of incorporation or other constituent documents, (ii) stamp and other taxes which may be payable in respect of the execution and delivery of
this Agreement or the agreements contemplated hereby or the issuance or delivery of any shares of the Preferred Stock pursuant to the Securities Purchase Agreement or any shares of Common Stock issuable upon conversion of the Preferred Stock and
(iii) the reasonable fees and expenses incurred by each such Person in any application, qualification, license, suitability report or other authorization or other filing with any Governmental Entity with respect to its investment in the Company or
in any other such filing with any Governmental Entity with respect to the Company which mentions such Person. 
  
 3B. Remedies. Any Person having any rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without
posting a bond or other security), to recover 

  

 - 11 - 

 
damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law. 
  
 3C. Consent to Amendments. Except as otherwise expressly provided
herein, the provisions of this Agreement may be amended and the Company may take any action herein prohibited, or fail to perform any act herein required to be performed by it, only if the Company has obtained the prior written consent of (i) the
holders of a majority of the Underlying Common Stock and (ii) M&C so long as M&C holds at least 10% of the outstanding Common Stock on a fully-diluted basis; provided that any amendment, modification or waiver which adversely affects any
Tudor Investor in a disproportionate manner from any Summit Investor must be approved by such Tudor Investor. No other course of dealing between the Company and the holder of any Preferred Stock or Underlying Common Stock or any delay in exercising
any rights hereunder or under the Company’s certificate of incorporation shall operate as a waiver of any rights of any such holders. 
  
 3D. Successors and Assigns. Except as otherwise expressly provided herein, the provisions of this Agreement which are for any Investor’s
benefit as an Investor or holder of the Preferred Stock, Underlying Common Stock or Common Stock are also for the benefit of, and enforceable by, any subsequent holder of such Preferred Stock, including successor trusts or trustees, such Underlying
Common Stock or such Common Stock as and to the extent provided herein, subject to the minimum threshold holding requirements set forth in paragraphs 1C, 1D and 1E above. 
  
 3E. Capital and Surplus; Special Reserves. The Company agrees that the capital of the Company (as such term is used
in Section 154 of the General Corporation Law of Delaware) in respect of the Preferred Stock issued pursuant to the Securities Purchase Agreement shall be equal to the aggregate par value of such shares and that it shall not increase the capital of
the Company with respect to any shares of the Company’s capital stock at any time on or after the date of this Agreement without the prior consent of the holders of a majority of the outstanding Preferred Stock. The Company also agrees that it
shall not create any special reserves under Section 171 of the General Corporation Law of Delaware without the prior written consent of the holders of a majority of the outstanding Preferred Stock. 
  
 3F. Generally Accepted Accounting Principles. Where any accounting
determination or calculation is required to be made under this Agreement, such determination or calculation (unless otherwise provided) shall be made in accordance with GAAP, consistently applied, except that if because of a change in generally
accepted accounting principles the Company would have to alter a previously utilized accounting method or policy in order to remain in compliance with GAAP, such determination or calculation shall continue to be made in accordance with the
Company’s previous accounting methods and policies, unless otherwise directed by the Company’s board of directors, with the written consent of the holders of a majority of the outstanding the Preferred Stock. 
  
 3G. Severability. Whenever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of this Agreement. 
  
 3H. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together
shall constitute one and the same Agreement. 
  

 - 12 - 

 3I. Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted
for convenience only and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 
  
 3J. Governing Law. The corporate law of the State of Delaware shall
govern all issues and questions concerning the relative rights and obligations of the Company and its stockholders. All other issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement and the
exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.  
  
 3K. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be
in writing and shall be deemed to have been given when delivered personally to the recipient, sent to the recipient by reputable overnight courier service (charges prepaid) or mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid. Such notices, demands and other communications shall be sent to each Investor at the address indicated on the Schedule of Investors attached hereto and to the Company at the address indicated below: 

 
 GCA Holdings, Inc. 
 3525 E. Post Road, Suite 120 
 Las Vegas,
Nevada 89120 
 Attn: Chief Executive Officer 
 Phone: (702) 855-3006 
 Facsimile: (702) 262-5039 
  
 or to such other address or to the attention of such other person as the
recipient party has specified by prior written notice to the sending party. 
  
 3L. No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. The parties hereto
intend that each covenant and agreement contained herein shall have independent significance. If any party has breached any covenant or agreement contained herein in any respect, the fact that there exists another covenant or agreement relating to
the same subject matter (regardless of the relative levels of specificity) which such party has not breached shall not detract from or mitigate the fact that such party is in breach of the first covenant or agreement. 
  
 3M. Complete Agreement. This Agreement and the other agreements and
instruments referred to herein contain the complete agreement between the parties hereto with respect to the subject matter hereof and thereof and supersede any prior understandings, agreements and representations by or between the parties hereto
(whether written or oral) which may have related to the subject matter hereof or thereof in any way. 
  
 * * * * * 
  

 - 13 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement on the date first
written above. 
  

			
	GCA HOLDINGS, L.L.C.
		
	By:	 	/s/    KARIM MASKATIYA        
	 Its:
	 	Chairman
	
	M&C INTERNATIONAL
		
	By:	 	/s/    ROBERT CUCINOTTA        
	 Its:
	 	Secretary
	
	SUMMIT/GCA HOLDINGS, LLC
		
	By:	 	 Summit Ventures VI-A, L.P.

	 Its:
	 	 Manager

		
	By:	 	 Summit Partners VI (GP), L.P.

	 Its:
	 	 General Partner

		
	By:	 	 Summit Partners VI (GP), LLC

	 Its:
	 	 General Partner

		
	By:	 	/s/    WALTER KORTSCHAK        
	 Its:
	 	Member

  

 (Continuation of Signature Page to Investor Rights Agreement) 
  

			
	TPT GCA INVESTMENT LTD.
		
	By:	 	/s/    ROBERT P.
FORLENZA        
	 Name:
	 	Robert P. Forlenza
	 Its:
	 	Director
	
	 TUDOR VENTURES GCA INVESTMENT LTD.

		
	By:	 	/s/    ROBERT P.
FORLENZA        
	 Name:
	 	Robert P. Forlenza
	 Its:
	 	Director
	
	 TUDOR FUNDS GCA INVESTMENT LTD.

		
	By:	 	/s/    ROBERT P.
FORLENZA        
	 Name:
	 	Robert P. Forlenza
	 Its:
	 	Director

  

 (Continuation of Signature Page to Investor Rights Agreement) 
  

			
	
	HARBOURVEST VI-GCA LLC
		
	By:	 	 HarbourVest Partners VI-Direct Fund L.P.

	 Its:
	 	 Sole Member

		
	By:	 	 HarbourVest VI-Direct Associates LLC

	 Its:
	 	 General Partner

		
	By:	 	 HarbourVest Partners, LLC

	 Its:
	 	 Managing Member

		
	By:	 	/s/    OFER NEMIROVSKY        
	 Its:
	 	Managing Director

  

 (Continuation of Signature Page to Investor Rights Agreement) 
  

			
	 CASINO CASH ACCESS CORP., ON BEHALF OF GM CAPITAL PARTNERS I, L.P.,
 ITS SOLE STOCKHOLDER

		
	By:	 	/s/    BRIAN S. KORN        
	 Its:
	 	President & Secretary
	
	JPMORGAN CHASE BANK, AS TRUSTEE
FOR FIRST PLAZA GROUP TRUST
		
	By:	 	/s/    MARC PINSKY        
	 Its:
	 	Assistant Vice President

  

 SCHEDULE OF INVESTORS 
  
 Summit GCA Holdings, LLC 
 c/o Summit Partners,
L.P. 
 499 Hamilton Avenue, Suite 200 
 Palo Alto, California
94301 

			
	Telephone:	  	(650) 321-1166
	Telecopy:	  	(650) 321-1188
	Attention:	  	 Walter G. Kortschak
 C.J.
Fitzgerald

  
 with a copy to: 
 (which shall not constitute notice to the Summit Investors) 
  
 Kirkland & Ellis LLP 
 200 East Randolph Drive 
 Chicago, Illinois 60601 

			
	Telephone:	  	(312) 861-2000
	Telecopy:	  	(312) 861-2200
	Attention:	  	Ted H. Zook, P.C.

  
 TPT GCA Investment Ltd. 
 Tudor Ventures GCA Investment Ltd. 
 Tudor Funds GCA Investment Ltd.

 c/o Tudor Investment Corporation 
 50 Rowes Wharf, 6th Floor

 Boston, Massachusetts 02110 

			
	Attention:	  	Robert Forlenza

  
 with a copy to: 
 (which shall not constitute notice to the Tudor Investors) 
  
 Tudor Investment Corporation 
 1275 King Street 
 Greenwich, Connecticut 06831 

			
	Attention:	  	Stephen N. Waldman, Esq.

  
 and 
  
 Bingham McCutchen LLP 
 150 Federal Street 
 Boston, Massachusetts 02110 

			
	Telephone:	  	(617) 951-8000
	Telecopy:	  	(617) 951-8736
	Attention:	  	Victor J. Paci

  
 HarbourVest VI-GCA LLC 
 c/o HarbourVest Partners, LLC 
 One Financial Center 
  

 44th Floor 
 Boston, MA 02111

			
	Telephone:	  	(617) 348-3707
	Telecopy:	  	(617) 350-0305

  
 with a copy to: 
 (which shall not constitute notice to the HarbourVest Investors) 
  
 Debevoise & Plimpton LLP 
 919 Third Avenue 
 New York, New York 10022 

			
	Telephone:	  	212 909 6170
	Telecopy:	  	212 909 6836
	Attention:	  	David J. Schwartz

  
 Casino Cash Access Corp. 

c/o GM Capital Partners I, L.P. 
 c/o General Motors Investment Management
Corporation 
 767 Fifth Avenue, 16th Floor 
 New York, New York
10153 

			
	Telecopy:	  	(212) 418-3644
	Attention:	  	Larry Rusoff

  
 JPMorgan Chase Bank, as Trustee for
First Plaza Group Trust 
 4 Chase MetroTech Center, 18th Floor 
 Brooklyn, New York 11245 

			
	Telecopy:	  	(718) 242-8695
	Attention:	  	John A. Ferrante

  
 with a copy to: 
 (which shall not constitute notice to JPMorgan Chase Bank, 
 as Trustee for
First Plaza Group Trust) 
  
 General Motors Investment Management Corporation

 767 Fifth Avenue, 16th Floor 
 New York, New York 10153

			
	Telecopy:	  	(212) 418-3644
	Attention:	  	Larry Rusoff

  

 E-1 

 M&C International 
 2350
Mission College Blvd, Suite 200 
 Santa Clara, California 95054 
 Phone: (408) 492-0034 

			
	Facsimile:	  	(408) 492-9632
	Attention:	  	President

  
 with a copy to: 
 (which shall not constitute notice to such Investor) 
  
 Morrison & Foerster LLP 
 755 Page Mill Road 
 Palo Alto, California 94304 
 Phone: (650) 813-5615 

			
	Facsimile:	  	(650) 494-0792
	Attn:	  	Paul “Chip” L. Lion III, Esq.

  

 E-2Prepared by R.R. Donnelley Financial -- Noncompete Agreement, dated as of May 14, 2004, by and between GCA Holdings, Inc

 Exhibit 10.22 
  
 GCA HOLDINGS, INC. 
 NONCOMPETE AGREEMENT 
  
 THIS AGREEMENT is made as
of May 14, 2004, between GCA Holdings, Inc., a Delaware corporation (the “Company”), and Kirk Sanford (“Exfsecutive”). 
  
 WHEREAS, Executive is Chief Executive Officer of the Company and acknowledges that he is familiar with the Company’s trade secrets and with other
confidential information concerning the Company, including the Company’s (i) inventions, technology and research and development, (ii) customers and vendors and customer and vendor lists, (iii) products and services (including those under
development) and related costs and pricing structures, (iv) accounting and business methods and practices, and (v) similar and related confidential information and trade secrets; 
  
 WHEREAS, Executive acknowledges that his services have been and shall continue to be of special, unique and extraordinary
value to the Company and that he has been substantially responsible for the growth and development of the Company and the creation and preservation of the Company’s goodwill; 
  
 WHEREAS, the Company and Executive desire to enter into this Agreement in order to set forth the obligation of Executive to
refrain from competing with the Company during his employment or other association with the Company and for a period of time thereafter as provided herein; 
  
 WHEREAS, the Company and Executive desire to enter into this Agreement in order to protect the Company’s legitimate business interests and goodwill,
and the execution and delivery of this Agreement by the Company and Executive is a condition to the purchase of equity interests in the Company by certain investors (the “Purchasers”) pursuant to that certain Securities Purchase and
Exchange Agreement dated as of April 21, 2004, by and among the Company, the Purchasers and M&C International (the “Purchase Agreement”); 
  

WHEREAS, Executive further acknowledges and agrees that (i) the covenants and agreements set forth in this Agreement are a material inducement to the
Purchasers and the Company to enter into the Purchase Agreement and consummate the transactions contemplated thereby, (ii) Executive shall receive substantial direct and indirect benefits by virtue of the consummation of the transactions
contemplated by the Purchase Agreement and (iii) the Company and the Purchasers would not obtain the benefit of the bargain set forth in the Purchase Agreement as specifically negotiated by the parties thereto if Executive breached the provisions of
this Agreement. 
  
 NOW, THEREFORE, in consideration of the
foregoing recitals and mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive hereby agree as follows: 
  
 1. Noncompetition. Executive acknowledges and agrees with the Company
that Executive’s services to the Company are unique in nature and that the Company would be irreparably damaged if Executive were to provide similar services to any person or entity competing with the Company or engaged in a similar business.
Executive accordingly covenants and agrees with the Company that during the period commencing with the date of this Agreement and ending on the date that is twenty-four (24) months after the date of the termination of Executive’s employment
with the Company for any reason (the “Noncompetition Period”), Executive shall not directly or indirectly, either for himself or for any other individual, corporation, partnership, joint venture or other entity, participate in any
business (including, 

  

 
without limitation, any division, group, or franchise of a larger organization) anywhere in the world which engages or which proposes to engage in any of the
following types of businesses: cash access products and services and the provision of payment processing services to patrons of establishments at which gaming activity occurs, cashless gaming systems and equipment, check verification and guarantee
services at gaming and other establishments, maintaining a gaming patron credit bureau database and marketing and information services related to the foregoing; provided that nothing herein shall prohibit Executive from being a passive
owner of not more than 2% of the outstanding stock of any class of a corporation which is publicly traded so long as Executive does not actively participation in the business of such corporation. Notwithstanding the foregoing, nothing contained in
this Agreement shall prohibit Executive from directly or indirectly engaging in the business of providing payment processing services with respect to non-gaming merchant operations (including but not limited to hotels, restaurants, retail shops,
travel agencies or car rental agencies) conducted at any establishment at which revenue from gaming activity accounts for less than 20% of its total revenues. For purposes of this Agreement, the term “participate in” shall include,
without limitation, having any direct or indirect interest in any corporation, partnership, joint venture or other entity, whether as a sole proprietor, owner, stockholder, partner, joint venturer, creditor or otherwise, or rendering any direct or
indirect service or assistance to any individual, corporation, partnership, joint venture and other business entity (whether as a director, officer, manager, supervisor, employee, agent, consultant or otherwise). Executive has consulted with legal
counsel regarding the restrictions of this Section 1 and based on such consultation has determined and hereby acknowledges that such restrictions are reasonable in terms of duration, scope and area restrictions and are necessary to protect the
goodwill of the Company’s business. 
  
 2.
Nonsolicitation. During the Noncompetition Period, Executive shall not, directly or indirectly, either for himself or for any other individual, corporation, partnership, joint venture or other entity, (i) induce or attempt to induce any
employee of the Company to leave the employ of the Company, or in any way interfere with the relationship between the Company and any employee thereof, (ii) hire any person who was an employee of the Company at any time during the Noncompetition
Period, or (iii) induce or attempt to induce any customer, supplier, licensee, licensor, vendor or other business relation of the Company to cease doing business with the Company, or in any way interfere with the relationship between any such
customer, supplier, licensee, licensor, vendor or business relation and the Company. 
  
 3. Notices. Any notice provided for in this Agreement must be in writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested) or sent by reputable
overnight courier service (charges prepaid) to the recipient at the address below indicated: 
  
 To the Company: 
  
 GCA
Holdings, Inc. 
 3525 E. Post Road, Suite 120 
 Las Vegas, Nevada 89120 
 Attn: Board of Directors 
 Phone: (702) 855-3066 
 Facsimile: (702)
262-5039 
  
 To Executive: 
  
 Kirk Sanford 
 c/o GCA Holdings, Inc. 
 3525 E. Post Road,
Suite 120 
  

 - 2 - 

 Las Vegas, Nevada 89120 
 Attn: Board of Directors 
 Phone: (702) 855-3066 
 Facsimile: (702) 262-5039 
  
 or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under
this Agreement shall be deemed to have been given when so delivered or sent or, if mailed, five days after deposit in the U.S. mail. 
  
 4. General Provisions. 
  
 (a) Company Subsidiaries. For purposes of this Agreement, the term “Company” shall include all subsidiaries of the Company.

  
 (b) Not an Employment Agreement. Executive and the
Company acknowledge and agree that this Agreement is not intended and should not be construed to grant Executive any right to continued employment with the Company or to otherwise define the terms of Executive’s employment with the Company.

  
 (c) Absence of Conflicting Agreements. Executive hereby
warrants and covenants that (i) his employment by the Company and his execution, delivery and performance of this Agreement do not and shall not result in a breach of the terms, conditions or provisions of any agreement, instrument, order, judgment
or decree to which Executive is subject, (ii) Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (iii) upon the execution and delivery of this
Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms. 
  
 (d) Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
provision or any other jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. The parties agree that a court of
competent jurisdiction making a determination of the invalidity or unenforceability of any term or provision of Section 1 of this Agreement shall have the power to reduce the scope, duration or area of any such term or provision, to delete specific
words or phrases or to replace any invalid or unenforceable term or provision in Section 1 with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision,
and this Agreement shall be enforceable as so modified. 
  
 (e)
Complete Agreement. This Agreement, those documents expressly referred to herein and other documents of even date herewith embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings,
agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 
  
 (f) Counterparts. This Agreement may be executed in separate counterparts (including by facsimile), each of which is deemed to be an original and
all of which taken together constitute one and the same agreement. 
  

 - 3 - 

 (g) Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and
inure to the benefit of and be enforceable by the Company and Executive and their respective successors and assigns; provided that the rights and obligations of Executive under this Agreement may not be assigned or delegated without
the prior written consent of the Company. 
  
 (h) Choice of
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement and the exhibits hereto shall be governed by the internal law, and not the law of conflicts, of the State of Delaware. 
  
 (i) Remedies. Each of the parties to this Agreement shall be entitled
to enforce its rights under this Agreement specifically, to recover damages and costs (including reasonable attorneys fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties
hereto agree and acknowledge that Executive’s breach of any term or provision of this Agreement shall materially and irreparably harm the Company, that money damages shall accordingly not be an adequate remedy for any breach of the provisions
of this Agreement by Executive and that the Company in its sole discretion and in addition to any other remedies it may have at law or in equity shall be entitled to specific performance and/or other injunctive relief from any court of law or equity
of competent jurisdiction in order to enforce or prevent any violations of the provisions of this Agreement (without posting any bond or deposit). 
  
 (j) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and
Executive. 
  
 (k) Third Party Beneficiaries. Executive
acknowledges and agrees that the Purchasers are intended third party beneficiaries of Executive’s covenants and agreements set forth herein and, accordingly, such covenants and agreements may be enforced by either the Company or the Purchasers.

  
 * * * * * 
  

 - 4 - 

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

  

			
	 GCA HOLDINGS, INC.

		
	By	 	/s/     KARIM MASKATIYA        
	 Its
	 	Chairman

  

	
	
	/s/     KIRK SANFORD        
	Kirk Sanford

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