Exhibit 10.21.6
SIXTH AMENDMENT TO EMPLOYMENT AND
NON-COMPETITION AND AGREEMENT
This Sixth Amendment is made on the 4th day of February 2004, by and
between XXXXXX X. XXXXXX, XX. ("Xxxxxx"), and USA TECHNOLOGIES, INC., a
Pennsylvania corporation ("USA").
Background
USA and Xxxxxx entered into an Employment And Non-Competition Agreement
dated November 20, 1997, a First Amendment thereto dated June 17, 1999, a Second
Amendment thereto dated February 22, 2000, a Third Amendment thereto dated
January 16, 2002, a Fourth Amendment thereto dated April 15, 2002, and a Fifth
Amendment thereto dated July 16, 2003. As more fully set forth herein, the
parties desire to amend the Agreement in certain respects.
Agreement
NOW, THEREFORE, in consideration of the covenants set forth herein, and
intending to be legally bound hereby, the parties agree as follows:
1. Amendment. Subparagraph (a) of Section 2. Compensation and Benefits
is hereby deleted the following new subparagraph (a) is hereby added to Section
2 of the Agreement:
(a) In consideration of his services rendered, commencing
January 1, 2004, USA shall pay to Xxxxxx a base salary of
$250,000 per year during the Employment Period, subject to any
withholding required by law. Xxxxxx'x base salary may be
increased from time to time in the discretion of the Board of
Directors.
2. Modification. Except as otherwise specifically set forth in
Paragraph 1, the Agreement shall not be amended or modified in any
respect whatsoever and shall continue in full force and effect.
3. Capitalized Terms. Except as specifically provided otherwise herein,
all capitalized terms used herein shall have the meanings ascribed to them in
the Agreement.
4. Effective Time. The amendments to the Agreement made in Paragraph 1
hereof shall be effective from and after January 1, 2004.
IN WITNESS WHEREOF, the parties hereto have executed this Sixth
Amendment on the day and year first above written.
/s/ Xxxxxx X. Xxxxxx, Xx.
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XXXXXX X. XXXXXX, XX.
USA TECHNOLOGIES, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx,
President
