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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 9, 2005
Euronet Worldwide, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-22167 74-2806888
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation File Number) Identification No.)
4601 College Boulevard
Leawood, Kansas 66211
(Address of principal executive office)(Zip Code)
(913) 327-4200
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01 Entry into a Material Definitive Agreement
On April 12, 2005, Euronet Worldwide, Inc.'s ("Euronet") subsdiary E-Pay
Limited signed a revision to the Service Agreement between E-Pay Limited
("E-Pay") and John Gardiner dated February 19, 2003 (the "Gardiner Revision").
Under the Gardiner Revision, Mr. Gardiner's base salary was reduced to
(pound)75,000 or $137,500 (based on an exchange an exchange rate of $1.83 to the
British Pound, which was the average exchange rate for the year 2004) and his
required time in the office was reduced from five days per week to two days per
week. These revisions become effective on March 1, 2005. A copy of the Gardiner
Revision between E-Pay and John Gardiner is attached hereto as Exhibit 10.1.
On April 12, 2005, E-Pay signed a revision to the Service Agreement between
E-Pay and Paul Althasen dated February 19, 2003 (the "Althasen Revision"). Under
the Althasen Revision, Mr. Althasen's base salary was reduced to (pound)50,000
or $91,500 (based on an exchange rate of $1.83 to the British Pound, which was
the average exchange rate for the year 2004) and his required time in the office
was reduced from five days per week to one day per week. These revisions become
effective on March 1, 2005. A copy of the Althasen Revision between Euronet and
Paul Althasen is attached hereto as Exhibit 10.2.
Item 9.01 Financial Statements and Exhibits
Exhibits
10.1 Revision to Service Agreement between Euronet and John Gardiner
dated as of April 12, 2005
10.2 Revision to Service Agreement between Euronet and Paul Althasen
dated as of April 12, 2005
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
EURONET WORLDWIDE, INC.
By: /s/ Jeffrey B. Newman
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Jeffrey B. Newman
Executive Vice President
Date: April 14, 2005
Exhibit 10.1
[E-PAY LIMITED Letterhead]
12th April 2005
Private and Confidential
John Gardiner
Langtons
40 High Road
Chigwell
Essex IG7 6DL
Dear John
SERVICE AGREEMENT MADE BETWEEN E-PAY LIMITED (1) (the "Company") AND JOHN
GARDINER (2) DATED 19 FEBRUARY 2003 (the "Service Agreement")
1. I am writing further to our recent discussions, to confirm a variation to
your Service Agreement.
2. With effect from March 1, 2005 you will work for the Company 2 days per
week.
3. Accordingly, your salary will be adjusted to (pound)75,000 per annum less
appropriate deductions for tax and national insurance contributions.
4. To indicate your acceptance of this variation, please sign and return the
attached copy letter.
Yours sincerely
/s/ Tony Westlake
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For and on behalf of
E-PAY LIMITED
ACCEPTED APRIL 12, 2005
/s/ John Gardiner
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John Gardiner
Exhibit 10.2
[E-PAY LIMITED Letterhead]
12th April 2005
Private and Confidential
Paul Althasen
38 Lodwick
Shoeburyness
Southend-on-Sea
SS3 9HW
Dear Paul
SERVICE AGREEMENT MADE BETWEEN E-PAY LIMITED (1) (the "Company")
AND PAUL ALTHASEN (2) DATED 19 FEBRUARY 2003 (the "Service Agreement")
1. I am writing further to our recent discussions, to confirm a variation to
your Service Agreement.
2. With effect from March 1, 2005 you will work for the Company 1 day per
week.
3. Accordingly, your salary will be adjusted to (pound)50,000 per annum less
appropriate deductions for tax and national insurance contributions.
4. To indicate your acceptance of this variation, please sign and return the
attached copy letter.
Yours sincerely
/s/ Tony Westlake
For and on behalf of
E-PAY LIMITED
ACCEPTED APRIL 12, 2005
/s/ Paul Althasen
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Paul Althasen