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EXHIBIT 10.10
LOAN AGREEMENT
Hypercom Pty. Ltd. ("Hypercom") hereby agrees to loan to Xxxx Xxxxxxx
("Employee") One Million Dollars Australian (A$1,000,000.00) on the following
terms and conditions:
1. The loan will be on an interest-free basis.
2. The loan is to be repaid by March 3, 2004.
3. This loan may be prepaid, at any time, in whole or in part, without penalty.
4. This loan agreement shall, at the option of Hypercom, be immediately due and
payable upon the occurrence of any of the following:
a. Upon the termination of Employee's employment with Hypercom or any of the
Hypercom family of companies; or
b. Upon the filing by Employee for relief under any provisions of the
Bankruptcy Code; or by suffering an involuntary petition for bankruptcy or
receivership not vacated within thirty (30) days.
5. In the event this Loan Agreement shall be in default, and placed with an
attorney for collection, then the undersigned agrees to pay all reasonable
attorney fees and costs of collection.
6. No changes to this Loan Agreement may be made except by a written agreement
signed by the parties hereto.
Hypercom Pty. Ltd. Xxxx Xxxxxxx
By: /s/ Xxxxx Xxxxx Signature: /s/ Xxxx Xxxxxxx
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Name: Xxxxx Xxxxx
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Title: Director
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Effective Date: 10/12/96
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