Document:

Exhibit 10.7

                        Global Payment Technologies, Inc.
                                425-B Oser Avenue
                               Hauppauge, NY 11788

                                                      Effective November 7, 2005

Mr. Stephen Nevitt
8176 Natures Way
Apartment 21
Bradenton, Florida  34202

Dear Mr. Nevitt:

         This letter constitutes our agreement with respect to your employment
as Chief Executive Officer and President of Global Payment Technologies, Inc.
(the "Company").

1. Employment. You are hereby employed as the Company's President and Chief
Executive Officer with duties and responsibilities customary to such positions.
During the employment term, you will devote your full business time and
attention to the affairs of the Company.

2. Salary; Benefits. The Company will pay you an annual salary of $225,000 per
year. You shall also be eligible to receive all benefits available to senior
executives of the Company in accordance with Company plans in effect during your
employment.

3. Term. Subject to the provisions hereof, your employment commences effective
on the date hereof and will continue for one year and will continue thereafter
for consecutive periods of one year, unless, no later than ninety (90) days
prior to the expiration of the then-current employment year, either you or the
Company give written notice to other electing not to extend your employment.

         Your employment will terminate immediately upon (i) your death, (ii) or
upon written notice from the Board of Directors as a result of your incapacity
due to physical or mental illness, resulting in your inability to perform the
essential functions of your position for a period of ninety days during any
twelve month period. In addition, the Company may terminate your employment for
"good cause" which shall mean (i) your conviction, or the entering of a plea of
nolo contendere, with respect to a felony or any material criminal action on
your part or; (ii) your willful and continued failure to perform your material
duties as Chief Executive Officer and President of the Company, which failure is
not remedied within a reasonable cure period after notice from the Board of
Directors.

         Notwithstanding any other provision hereof, in the event that there is
a change of control of the Company where the transaction is entered into during
the first six months hereof, the Company shall have the right to terminate this
agreement at the closing of the transaction but shall pay you the sum of $25,000
and if there is a change of control of the Company where the transaction is
entered into within the second sixth month period after the date hereof, the
Company shall also have the right to terminate such agreement upon the closing
of such transaction and upon payment to you of the sum of $50,000.

<PAGE>

4. Expenses. During the first 12 months of your employment and recognizing you
now live in Florida, the Company will pay your reasonable living expenses for an
apartment in Long Island, New York (not to exceed $2,000 a month) so that you
may perform your services at the Company's offices in Hauppauge, New York. In
addition, the Company will pay you an automobile allowance (not to exceed $500
per month) during this period to enable you to perform your duties.

5. Stock Options. You are hereby granted options to purchase 250,000 shares of
the Company's common stock at an exercise price equal to $2.85 (the closing
price on November 7, 2005). One-third of such options (83,333) will vest on the
first anniversary of the date of your employment, one-third of such options
(83,333) will vest on the second such anniversary and the final one-third
(83,334) will vest on the third anniversary. The exercise period for such option
will be seven years and have such other terms as are set forth herein and in the
Option Contract being executed this date and annexed as Exhibit A. All of your
stock options will vest and become fully exercisable upon a sale of
substantially all of the assets of the Company or any sale or merger or other
event that results in a change of control of the Company if such transaction
occurs with an entity first introduced to the Company after the effective date
hereof. Subject to approval by the Company's shareholders, the Company will
grant you options to purchase an additional 250,000 shares of the Company's
common stock at a price equal to the fair market value of the Company's common
stock on the date that the shareholders approve such additional options. If
approved, these options will also vest over a three year period and will have
the same provisions as the options described above.

         This will also confirm our agreement that in the event we both mutually
agree, instead of the additional 250,000 options described above, the Company
may provide you with additional compensation in an alternative form (e.g.,
"restricted stock"), subject to our mutual agreement with respect thereto.

         The foregoing is our entire agreement and may not be amended or changed
except in a writing signed by the party against whom the same is sought to be
enforced, shall be governed by the laws of New York, and any dispute hereunder
shall be resolved solely in the Supreme Court of the State of New York, New York
County or the United States District Court for the Southern District of New
York. Each of the parties hereby agrees to the jurisdiction and venue of such
courts with respect to all matters relating hereto.

         Please confirm our agreements below.
                                          Very truly yours,

                                          GLOBAL PAYMENT TECHNOLOGIES, INC.

                                          By:
                                              ----------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                 -------------------------------
AGREED TO AND ACCEPTED
AS OF THE EFFECTIVE DATE HEREOF:

-------------------------------
      Stephen Nevitt

                                       2Exhibit 10.8

                        AMENDMENT TO EMPLOYMENT AGREEMENT

         This Amendment (this "Amendment") to the Employment Agreement effective
as of April 5, 2004 (the "Employment Agreement") between Thomas Oliveri (the
"Executive") and Global Payment Technologies, Inc. (the "Company"), is dated as
of December 14, 2005.

         WHEREAS, the parties desire to amend the Employment Agreement; and

         NOW THEREFORE, the Company and the Executive agree as follows:

1.       Section 2.1 of the Employment Agreement is hereby amended in its
         entirety to read as follows:

         2.1 Subject to the terms and conditions of this Agreement, the Company
agrees to employ Executive as Executive Vice President and Chief Operating
Officer of the Company with the responsibility for the performance of such
duties, consistent with such positions and the By-Laws of the Company and as may
be from time to time assigned to him by the Board of Directors (the "Board of
Directors") and the Chief Executive Officer of the Company. Executive hereby
accepts such employment.

2.       Section 2.2 of the Employment Agreement is amended in its entirety to
read as follows:

         2.2 The terms of this Agreement shall commence on the effective date of
this Agreement and shall continue until November 7, 2006, unless earlier
terminated as hereinafter provided. The period of Executive's employment
hereunder shall hereinafter be referred to as the "Employment Term".

3.       Section 3 of the Employment Agreement is hereby amended in its entirety
         to read as follows:

         3.       SALARY

         Effective December 1, 2005, Executive shall receive a Base Salary
("Base Salary") at the rate of $200,000 per year, less applicable withholdings
and deductions, payable in accordance with the Company's regular payroll
practices for senior executives of the Company provided that for the purposes of
Section 8.4 of the Employment Agreement, Base Salary shall be deemed to be
$255,000.

4.       Section 6 of the Employment Agreement is hereby amended in its entirety
         to read as follows:

         6. Termination Under Certain Conditions:

         Except as otherwise provided in Section 8 hereof, in the event that
Executive's employment is terminated by the Company other than for "Cause" (as
hereinafter defined or Executive terminates his employment for "Good Reason" (as
hereinafter defined) prior to the end of the Employment Term, Executive shall be

<PAGE>

                                                                    Exhibit 10.8

entitled to receive in lieu of any and all other payments, a severance payment
in an aggregate amount equal to (1) Executive's yearly Base Salary in effect on
the date of his termination multiplied by 1.5 (i.e. for each $1.00 of Base
Salary Executive would receive $1.50) plus (2) an amount equal to the
Discretionary Bonus, if any, projected by the Board of Directors for the fiscal
year in which termination occurs (subject to the terms and conditions of Section
4), and, in the case of the Discretionary Bonus only, pro rated by a fraction,
the numerator of which shall be the actual number of days elapsed in the current
fiscal year and denominator of which shall be 365. If the Executive is employed
by the Company at the end of the Employment Term, then Executive shall be
entitled to receive in lieu of any and all other payments, a severance payment
in an aggregate amount equal to (1) Executive's yearly Base Salary in effect on
the date of his termination plus (2) an amount equal to the Discretionary Bonus,
if any, projected by the Board of Directors for the fiscal year in which
termination occurs (subject to the terms and conditions of Section 4), and, in
the case of the Discretionary Bonus only, pro rated by a fraction, the numerator
of which shall be the actual number of days elapsed in the current fiscal year
and denominator of which shall be 365. Any payment provided to Executive under
the terms of this Section 6 is referred to herein as a "Severance Payment". The
Severance Payment shall be payable to Executive in equal installments in
accordance with the Company's normal payroll practices as if Executive were
still employed by the Company over a period of eighteen (18) months if
termination is by the Company other than for Cause or by the Executive for Good
Reason or twelve (12) months otherwise. In addition to the Severance Payment,
Executive shall be entitled to receive all benefits set forth in Section 7.1 on
terms and conditions no less favorable to the Executive than those in effect
immediately prior to the Executive's termination during the period that the
Severance Payment is payable to him.

5.       Section 9.1(i) of the Employment Agreement is hereby amended in its
         entirety to read as follows:

         (i) The assignment to Executive by the Company of duties inconsistent
with those of an Executive Vice President and Chief Operating Officer (including
status, titles, offices and lines of reporting), except in connection with the
termination of Executive's employment for Cause (in accordance with Section 10
hereof), disability (as defined in Section 10.2(c) below), or as a result of
Executive's death or termination by Executive other than for Good Reason;

6.       All remaining terms of the Employment Agreement shall remain in full
         force and effect.

         IN WITNESS WHEREOF, the Executive has executed this Amendment and the
Company has caused this Amendment to be executed by a duly authorized officer
and to become effective as of the day and year first written above.

                                       GLOBAL PAYMENT TECHNOLOGIES, INC.

                                       By:
                                          ---------------------------------
                                             Name:  Stephen Nevitt
                                             Title:  President / CEO

                                       ------------------------------------
                                       Thomas Oliveri

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