<SEC-DOCUMENT>0001140361-19-009704.txt : 20190523
<SEC-HEADER>0001140361-19-009704.hdr.sgml : 20190523
<ACCEPTANCE-DATETIME>20190523080100
ACCESSION NUMBER:		0001140361-19-009704
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20190509
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190523
DATE AS OF CHANGE:		20190523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		19847993

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Washington, D.C. 20549</font></div>
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        <div style="text-align: center; font-size: 18pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold; color: rgb(0, 0, 0);">FORM 8-K</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Current Report Pursuant to Section 13 or 15(d) of</font></div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">The Securities Exchange Act of 1934</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Date of report (Date of earliest event reported): May 9, 2019</font></div>
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        <div style="text-align: center; font-size: 24pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">USA TECHNOLOGIES, INC</font>.</font></div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">(Exact name of registrant as specified in its charter)</font></div>
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                <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">001-33365</font></div>
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                <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">(State or other jurisdiction of incorporation or organization)</font></div>
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                <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">(Commission File Number)</font></div>
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                <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">(I.R.S. Employer Identification No.)</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">100 Deerfield Lane, Suite 300</font></div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Malvern, Pennsylvania 19355</font></div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">(Address of principal executive offices and zip code)</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Registrant&#8217;s telephone number, including area code: 610-989-0340</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">n/a</font></div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Former name or former address, if changed since last report</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">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:</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
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                <td style="vertical-align: top; width: 18pt;">&#9744;</td>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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            <div style="text-align: left; text-indent: -27pt; margin-left: 27pt; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>
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                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #231F20;">Title of each class</font></div>
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                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #231F20;">Trading</font></div>
                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #231F20;">Symbol(s)</font></div>
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                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #231F20;">Name of each exchange on which registered</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Common Stock, no par value</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">USAT</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The NASDAQ Stock Market LLC</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Series A Convertible Preferred Stock, no par value</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">USATP</font></div>
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                  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The NASDAQ Stock Market LLC</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act
            of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</font></div>
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        <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Emerging growth company&#160; &#9744;</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by
              check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160; </font>&#9744;</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Item 5.02.</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
                      Officers; Compensatory Arrangements of Certain Officers<br>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">(c)&#160; The Board of Directors of USA Technologies, Inc. (the &#8220;Company&#8221;), has appointed Matthew W. McConnell, age 50, as the
            Chief Operating Officer of the Company, effective May 22, 2019. The Chief Operating Officer is a newly created function resulting from the recent reorganization of the Company&#8217;s senior management. Mr. McConnell will be responsible for managing
            the Company&#8217;s day-to-day operations and will report to the Chief Executive Officer of the Company.</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">From June 2012 to January 2018, Mr. McConnell had been employed by Comcast NBCUniversal as Senior Vice President and General Manager where
            he was responsible for operating Comcast Technology Solutions, a global division of Comcast Cable, which provides B2B products and services to the marketplace. From April 2009 to May 2011, Mr. McConnell was the President, Chief Executive
            Officer, and was a founder, of Troppus Software Corporation (&#8220;Troppus&#8221;), a SaaS business providing customer care and technical support software and services to the multiple-systems operator and telecommunications marketplace. Troppus was sold
            to EchoStar Corporation (NASDAQ: SATS) in 2011. From June 2008 through December 2008, he was Executive Vice President, Corporate Strategy&#160; and Business Development for NextAction Corporation, and from December 2006 through February 2008, he
            served in various capacities for Level 3 Communications, Inc., including as Senior Vice President, Offer Management, Content Markets Group. From May 2000 through October 2006, Mr. McConnell held various positions with America Online, Inc.,
            including Vice President, Business Affairs and Corporate Development. Since November 2011, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Mr. McConnell has been an adjunct professor at the
              University of Denver where he teaches graduate level courses in ethics and leadership as well as technology strategy and management.</font></font></div>
      </div>
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        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Pursuant to the terms of the employment agreement entered into on May 9, 2019 between the Company and Mr. McConnell, Mr.
            McConnell will receive an annual base salary of $400,000 and participate in the short-term incentive bonus plan and long-term incentive stock plan established for the executive officers of the Company. If all of Mr. McConnell&#8217;s target goals are
            achieved under the short-term incentive plan, he would earn a cash bonus equal to 45% of his base salary, and if all the target goals are achieved under the long-term incentive stock plan, Mr. McConnell would be awarded equity having a value
            equal to 100% of his base salary. Mr. McConnell was also awarded non-qualified stock options to purchase up to 50,000 shares exercisable at $5.72 per share, which would vest as follows: one-third on September 30, 2019; one-third on September
            30, 2020; and one-third on September 30, 2021. Mr. McConnell&#8217;s employment will be for a one year period and will continue thereafter for consecutive one year periods unless terminated by either Mr. McConnell or the Company upon at least 90-days
            prior notice.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">The foregoing summary of the employment agreement does not purport to be complete and is qualified in its entirety by
            reference to the employment agreement and the amendment thereto which are filed hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">There is no arrangement or understanding with any other person pursuant to which Mr. McConnell was appointed as the Chief
            Operating Officer, and there are no family relationships between Mr. McConnell and any director or executive officer of the Company. Additionally, there are no transactions involving Mr. McConnell that would be required to be reported under
            Item 404(a) of Regulation S-K.</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Item 8.01</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Other Events</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">On May 23, 2019, the Company issued a press release announcing the appointment of Mr. McConnell as Chief Operating
            Officer. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">The information in Item 8.01 in this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed
            &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of
            1933, as amended, or the Securities Exchange Act of 1934, as amended.</font></div>
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        </div>
        <div>
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              <tr style="vertical-align: top;">
                <td style="vertical-align: top; width: 45pt;">
                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Item 9.01.</font></div>
                </td>
                <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Financial Statements and Exhibits</font></div>
                </td>
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        </div>
        <div><br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="ze853e400c0b34c8f9599d2f6abaf5019" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;">

          <tr>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left;"><a href="ex10_1.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Exhibit




                    10.1</font></a></div>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Employment Agreement dated May 3, 2019, by and between the Company and Matthew W. McConnell</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 90%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left;"><a href="ex10_2.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Exhibit




                    10.2</font></a></div>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Amendment to Employment Agreement dated May 17, 2019, between the Company and Matthew W. McConnell</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 90%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left;"><a href="ex99_1.htm"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">Exhibit




                    99.1</font></a></div>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Press Release of the Company dated May 23, 2019</font></div>
            </td>
          </tr>

      </table>
      <div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">SIGNATURES</font></div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its
            behalf by the undersigned hereunto duly authorized.</font></div>
        <div><br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z169f80b774274c71aee311cf5e6316db" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;">

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            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Dated: May 23, 2019</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">USA TECHNOLOGIES, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">By:</font></div>
            </td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><u><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Stephen P. Herbert</font></font></u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Stephen P. Herbert,</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Chief Executive Officer</font></div>
            </td>
          </tr>

      </table>
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        <div><br>
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        <div style="text-align: center;"><font style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
    </div>
    <div><br>
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    <div>
      <div>
        <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">April 30, 2019</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Mr. Matthew McConnell</font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">1092 White Hawk Ranch Drive</font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Boulder, CO&#160; 80303</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Dear Matt:</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">We are pleased to extend to you an offer of employment to join USA Technologies, Inc. (&#8220;USA&#8221;) as Chief Operating Officer.
            In your role as Chief Operating Officer you will report to me. Your first day of employment will be May 20, 2019.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">This offer is contingent upon approval of this letter by our Board of Directors which is expected to be no later than May
            8, 2019.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">The following are the terms of your employment:</font></div>
        <div><br>
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          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z71f7555c7efe4daaaeff3e8c78a2e924">

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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Your annual base salary will be $400,000.</font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the first six months of your employment, you will be located at and will work out of USA&#8217;s Malvern, Pennsylvania office. You will be reimbursed by USA
                        for all necessary business expenses reasonably incurred and documented per USA&#8217;s expense policy.</font></div>
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          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zf8fe432459d44524afb7550c8e71e310">

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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You will participate in the Short-Term Incentive (&#8220;STI&#8221;) Plan for USA&#8217;s executive officers. If the target goals would be achieved, you would earn a cash
                        bonus equal to 45%&#160; of your base salary. For fiscal year 2019, your STI award would be pro-rated from your start date through the end of USA&#8217;s fiscal year ended June 30, 2019. This award is subject to the terms and conditions of the
                        STI Plan.</font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You will participate in the Long-Term Incentive Stock Plan (&#8220;LTI&#8221;) for USA&#8217;s executive officers. If the year-over-year percentage target goals would be
                        achieved, you would earn an equity award with a value on the last day of the applicable fiscal year equal to 100% of your base salary. For fiscal year 2019, your LTI award would be pro-rated from your start date through the end of
                        USA&#8217;s fiscal year ended June 30, 2019.&#160; The shares would vest over the two-year period following the end of the applicable fiscal year.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>This award
                        is subject to the terms and conditions of the LTI Plan.</font></div>
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              <div>
                <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Offer of Employment</div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matthew McConnell</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Page 2</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font id="DSPFPageNumber"> <br>
                    </font></font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You will receive an equity grant of non-qualified options to purchase up to 50,000 shares with an exercise price equal to the closing price of the shares
                        on the date of the grant. The options would vest&#160; as follows, provided that you are employed by USA on the respective vesting dates:&#160; one-third on September 30, 2019; one-third on September 30, 2020; and one-third on September 30,
                        2021. The options would be exercisable for a period of seven years following commencement of employment. The options would not be exercisable in any event unless or until USA would be eligible to utilize a Form S-8 registration
                        statement under the Securities Act of 1933.</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> </font><br>
        </div>
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            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z2c2e7b95ed9348f588c66484d9da7d08">

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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Compensation Committee of USA&#8217;s Board of Directors, in consultation with the Chief Executive Officer, shall annually review your compensation.</font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You would be covered by and entitled to all of the fringe benefits that are generally available to USA employees, including health insurance, dental
                        insurance, group life and disability insurance, and matching 401(k) plan. Please note that USA&#8217;s benefits program is subject to change and any such change would supersede this letter.</font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You will be covered as an executive officer of USA under our Directors and Officers liability insurance policy.</font></div>
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            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z608e6f1934cf422ca0b920330858f03f">

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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The term of your employment with USA would be for a period of one year or until May 6, 2020, and would continue thereafter for consecutive one year
                        periods unless terminated by you or USA upon at least 90-days&#8217; notice prior to the end of the initial one year employment period or any one year extension thereof. Your employment could also be terminated at any time upon notice to
                        you from USA for &#8220;cause&#8221; or upon your death. The term "cause" shall mean any of the following have occurred or exist as determined by USA: (A) your fraud, gross malfeasance, or willful misconduct, with respect to USA's business; (B)
                        any material breach by you of this letter or any policy of USA; (C) any violation by you of any law, rule or regulation, which violation results or could reasonably be expected to result in material harm to the business or
                        reputation of USA; (D) conviction of or the entry of a guilty plea or plea of no contest to any felony or to any other crime involving moral turpitude; (E) any intentional misapplication by you of USA's funds, or any material act of
                        dishonesty committed by you; or (F) any other action by you that, in the reasonable judgment of USA, is damaging or detrimental in a significant way to USA&#8217;s business or reputation. For the purposes of the foregoing sentence, the
                        term USA shall mean and include any affiliate (as such term is defined in Rule 144 under the Securities Act of 1933) of USA, whether on the date of this letter or in the future, including but not limited to Cantaloupe Systems, Inc.</font></div>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You will devote your full time, energy, skills and attention to the business of USA, and shall not be engaged or employed in any other business activity
                        whatsoever, whether or not such activity is pursued for gain, profit or other pecuniary advantage.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>Nothing contained in the prior sentence shall
                        prohibit you from serving as a member of boards of directors or boards of trustees of non-profit organizations, provided that such activities shall not detrimentally impact your duties at USA, that USA approves such activities in
                        advance, and that you shall coordinate such activities with USA.</font></div>
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              <div>
                <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Offer of Employment</div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matthew McConnell</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Page 3</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font id="DSPFPageNumber"> <br>
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                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Except in connection with your duties as Chief Operating Officer, you shall not, directly or indirectly, at any time from and after the date hereof, and
                        whether or not your employment with USA has been terminated or has expired for any reason whatsoever, make any use of, exploit, disclose, or divulge to any other person, firm, or corporation, any confidential information, including
                        but not limited to, proprietary information, trade secret, business secret, financial information, financial projections, documents, process, procedures, know-how, data, marketing information, marketing method, marketing means,
                        software information, intellectual property, special arrangement, or any other confidential information concerning the business or policies of USA, or concerning USA' s customers, clients, accounts, or suppliers, that you learned as
                        a result of, in connection with, through your employment&#160; with, or through your affiliation with USA, but not information that can be shown through documentary evidence to be in the public domain, or information that falls into the
                        public domain, unless such information falls into the public domain by your direct or indirect disclosure or other acts. You agree to use your best endeavors to prevent the unauthorized disclosure or publication of confidential
                        information and not to copy nor remove confidential information from USA&#8217;s premises, whether physically or electronically, without the express written permission of USA. For any and all purposes of this paragraph, the term USA shall
                        mean and include any affiliate (as such term is defined in Rule 144 under the Securities Act of 1933) of USA, whether on the date of this letter or in the future, including but not limited to Cantaloupe Systems, Inc.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z3702f5bbadd246098067e4029cccd094">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Nothing in this letter prohibits or prevents you from filing a charge with or participating, testifying, or assisting in any investigation, hearing, or
                        other proceeding before any federal, state, or local government agency. You further understand that this letter does not limit your ability to make any disclosures that are protected under the whistleblower provisions of federal law
                        or regulation. This letter does not limit your right to receive an award for information provided to any governmental agencies.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zb972e559b33e42f58da1c3f4dcc935e1">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For a one-year period following the termination or expiration of your employment with USA for any reason whatsoever, you will be prohibited from competing
                        within any geographic area in which USA&#8217;s business was conducted as of the date of termination or expiration of your employment, with the business of USA, as presently or as hereinafter conducted as of the termination or expiration
                        of your employment, including but not limited to, delivering services or products to unattended retail locations, and any related production, promotion, marketing, or sales activities. The term &#8220;competing&#8221; means acting, directly or
                        indirectly, as a partner, principal, stockholder, joint venturer, associate, independent contractor, creditor of, consultant, trustee, lessor to, sub-lessor to, employee or agent of, or to have any other involvement with, any
                        person, firm, corporation, or other business organization which is engaged in the businesses described in this paragraph. For any and all purposes of this paragraph, the term USA shall mean and include any affiliate (as such term is
                        defined in Rule 144 under the Securities Act of 1933) of USA, whether on the date of this letter or in the future, including but not limited to, Cantaloupe Systems, Inc.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
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      <div>
        <div style="text-align: justify;">
          <div>
            <div>
              <div>
                <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Offer of Employment</div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matthew McConnell</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Page 4</font></div>
              </div>
            </div>
            <div> <br>
            </div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z32378ee3281d4af7bab75fc7dfd94f6c">

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                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For a one-year period following termination or expiration of your employment with USA for any reason whatsoever, you will not (a) directly or indirectly,
                        solicit for hire for any business entity other than USA, any person employed by USA as of the date of termination or expiration of your employment; or (b) directly or indirectly interfere with USA's relations with any person
                        employed by USA as of the date of termination or expiration of your employment with USA.&#160; Such restriction shall not limit any employee or candidate responding to a general job posting. For all purposes of this paragraph, the term
                        USA shall mean and include any affiliate (as such term is defined in Rule 144 under the Securities Act of 1933) of USA, whether on the date of this letter or in the future, including but not limited to, Cantaloupe Systems, Inc.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z8d3cc54e4fd840efb78d83316f23a72b">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For a one-year period following termination or expiration of your employment with USA for any reason whatsoever, you will be prohibited from soliciting
                        any of USA&#8217;s customers in connection with engaging in a business competing with or similar to that of USA as conducted as of the date of the termination or expiration of your employment, including but not limited to, delivering
                        services or products to unattended retail locations, and any related production, promotion, marketing, or sales activities relating thereto. For all purposes of this paragraph, the term USA shall mean and include any affiliate (as
                        such term is defined in Rule 144 under the Securities Act of 1933) of USA, whether on the date of this letter or in the future, including but not limited to, Cantaloupe Systems, Inc.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z3e96af1d568b47eeaa8c045dac2fa05a">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You acknowledge that any breach by you of the obligations set forth in this letter would substantially and materially impair and irreparably harm your
                        business and goodwill; that such impairment and harm would be difficult to measure; and, therefore, total compensation in solely monetary terms would be inadequate. Consequently, you agree that in the event of any breach or any
                        threatened breach by you of any of the provisions of this letter, USA shall be entitled, in addition to monetary damages or other remedies, and without posting bond, to equitable relief, including injunctive relief, and to the
                        payment by you of all costs and expenses incurred by USA in enforcing the provisions thereof, including attorneys' fees. The remedies granted to USA in this letter are cumulative and are in addition to remedies otherwise available
                        to USA at law or in equity.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z8c67255fafbb473fb743ef2d2816d32a">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You acknowledge that you will be subject to the following policies of USA: Employee Manual, Code of Business Conduct and Ethics; Blackout Period and
                        Notification Policy; and Stock Ownership Guidelines for Directors and Executive Officers as well as any other policies that may be adopted by USA from time to time. As Chief Operating&#160; Officer, you would also be required to file
                        statements of beneficial ownership of USA securities pursuant to Section 16(a) of the Securities Exchange Act of 1934.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
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        <div style="text-align: justify;">
          <div>
            <div>
              <div>
                <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Offer of Employment</div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matthew McConnell</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Page 5</font></div>
                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font id="DSPFPageNumber"> <br>
                    </font></font></div>
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                <tr>
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                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If any term or provision of this letter or the application thereof to any person or circumstances shall, to any extent, be invalid or unenforceable, the
                        remainder of this letter or the application of any such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of
                        this letter shall be valid and enforceable to the fullest extent permitted by law.</font></div>
                  </td>
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            </table>
          </div>
        </div>
      </div>
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        <div><br>
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      </div>
      <div>
        <div style="text-align: justify;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z346bf56db7ed4f538e91c5cc08dd813c">

                <tr>
                  <td style="width: 18pt;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">&#8226;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">You represent and warrant to USA that you are not as of the date of this letter a party to or subject to any employment, non-compete, or similar agreement
                        that would limit or prohibit, in whole or in part, the performance of your employment duties or responsibilities.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">This letter constitutes our entire agreement and understanding regarding the matters addressed herein, and merges and
            supersedes all prior or contemporaneous discussions, agreements and understandings of every nature between us regarding these matters. This letter may only be modified by an agreement in writing executed by both USA and you.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">This letter will be governed by, and enforced in accordance with, the laws of the Commonwealth of Pennsylvania, without
            regard to the application of the principles of conflicts of laws.</font></div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">The rights and obligations of both parties under this Agreement shall inure to the benefit of, and shall be binding upon,
            their respective personal representatives, heirs, successors and assigns. This Agreement, or any part hereof, may be assigned by USA without your consent. This Agreement, or any part thereof, may not be assigned by you.</font></div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Your employment with USA will also be subject to a satisfactory background investigation to be conducted by USA.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matt, we are very much looking forward to your joining the USA team! Please indicate your written acceptance by signing
            this letter and returning it to me by email.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Sincerely,</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">USA Technologies, Inc.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">By:<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>&#160;&#160; /s/Stephen P. Herbert</u></font></font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Stephen P. Herbert, Chief Executive Officer</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Accepted and Agreed to:</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>&#160;&#160;/s/ Matthew McConnell</u></font></font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Matthew McConnell</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;">Dated:&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>May 3, 2019</u></font></font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> <br>
              </u></font></font></div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> <br>
              </u></font></font></div>
        <div style="text-align: justify;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times,
            serif; color: #000000;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> </u></font></font></div>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10_2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
    </div>
    <div><br>
    </div>
    <div>
      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">May 17, 2019</div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mr. Matthew McConnell</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1902 White Hawk Ranch Drive</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Boulder, CO 80303</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Dear Matt:</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">This letter sets forth a change to the letter agreement between you and USA Technologies, Inc. (&#8220;USAT&#8221;) dated April 30, 2019 (the &#8220;Letter&#8221;)
          pursuant to which you were offered employment as Chief Operating Officer of USAT:</font></div>
      <div><br>
      </div>
      <div style="text-align: left;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z1282ddf6cc92414fa18740153ed25192" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

              <tr>
                <td style="width: 20.3pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#8226;</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The date of your first day of employment, May 20, 2019, appearing in the first paragraph, shall be changed to May 22, 2019.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: left;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zf2db3b5481ce41fbb4c0d091592e18e5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

              <tr>
                <td style="width: 20.3pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#8226;</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The date of May 6, 2020 appearing in the ninth bullet point of the Letter shall be changed to May 22, 2020.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: left;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z2a4409a791ef41a0a515e1e9d2d2efff" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

              <tr>
                <td style="width: 20.3pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#8226;</font></td>
                <td style="width: auto; vertical-align: top; text-align: left;">
                  <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The second sentence in the tenth bullet point shall be amended to state:</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 38.3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#8220;Nothing contained in the prior sentence shall prohibit you from serving as a member of boards of directors, or boards of
          trustees of non-profit organizations, provided that such activities shall not detrimentally impact your duties at USA, that USA approves such activities in advance, and that you shall coordinate such activities with USA.&#8221;</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Except as specifically set forth above, all of the terms and conditions in the Letter shall not be amended or modified in any respect
          whatsoever and shall remain in full force and effect.</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Please indicate your written acceptance by signing this letter where indicated below and returning it to me.</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Sincerely,</font></div>
      <div><br>
      </div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">USA Technologies, Inc.</font></div>
      <div><br>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By: <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> /s/ Stephen P. Herbert</u></font></font></div>
      <div style="text-align: left; margin-left: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Stephen P. Herbert, Chief Executive Officer</font></div>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Accepted and Agreed to:</font></div>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>&#160;/s/ Matthew McConnell</u></font></font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Matthew McConnell</font></div>
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      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Dated: <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> May 17, 2019</u></font></font></div>
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<DESCRIPTION>EXHIBIT 99.1
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
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        <div style="text-align: left; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 10pt; font-weight: bold;">FOR IMMEDIATE RELEASE</div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold; color: rgb(0, 0, 0);">USA Technologies, Inc. Appoints Matthew W. McConnell as Chief Operating Officer</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">MALVERN,
              Pa. &#8211; May 23, 2019 --</font> USA Technologies, Inc. (NASDAQ:USAT) (the &#8220;Company&#8221;), a premier digital payment, consumer engagement and logistics service provider for the self-service retail market, today announced the appointment of Matthew W.
            McConnell as Chief Operating Officer, effective May 22, 2019. In this newly created position, Mr. McConnell will be responsible for managing USAT&#8217;s day-to-day operations, including delivery of world class service to the Company&#8217;s nearly 16,000
            customers who represent approximately 1,000,000 connections to USAT&#8217;s ePort Connect Service. Mr. McConnell will report to Stephen P. Herbert, Chief Executive Officer of USA Technologies<font style="font-size: 10pt; font-family: &quot;Times New
              Roman&quot;,Times,serif;">.</font></font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Mr. McConnell is an accomplished senior executive who brings more than 30 years of experience driving growth
            through the commercialization of technology across a variety of organizations. Most recently, Mr. McConnell held the role of Senior Vice President and General Manager at Comcast NBCUniversal, where he was responsible for operating Comcast
            Technology Solutions, a global division of Comcast Cable. In this role, he oversaw significant growth and international expansion of the division. Previously, Mr. McConnell co-founded Troppus Software Corporation, a SaaS business providing
            customer care and technical support software and services to the multiple-systems operator and telecommunications marketplace, which was sold to EchoStar Corporation (NASDAQ: SATS) in 2011. Earlier in his career, Mr. McConnell held various
            corporate development positions at NextAction Corporation, Level 3 Communications, Inc., and America Online, Inc. Mr. McConnell is an adjunct professor at the University of Denver where he teaches graduate level courses in leadership and ethics
            as well as technology strategy and management.</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">&#8220;Matt brings a proven track record of building high-performing global organizations, launching new and
            impactful technology, and developing and implementing go-to-market strategies to expand revenue growth,&#8221; said Stephen P. Herbert, Chief Executive Officer, USA Technologies. &#8220;His significant operational expertise and deep knowledge of
            technology-based commercialization opportunities make him an ideal addition to our senior team, particularly as we work to enrich control functions and processes in line with best practices. We know Matt shares a strong commitment to delivering
            exceptional customer service similar to our own, and are pleased to welcome someone with Matt&#8217;s experience and expertise to the newly created role of Chief Operating Officer.&#8221;</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Mr. McConnell said, &#8220;I&#8217;m excited and energized to join an organization leading the way in cashless payments and
            logistics software, and with such a clear focus on delivering for their customers. I look forward to working with Steve and the management team to support USA Technologies as it drives operational excellence and efficiency across the
            organization.&#8221;</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">&#160;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">About
              USA Technologies, Inc.</font></font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">USA Technologies, Inc. is a premier digital payment technology service provider of integrated cashless and
            mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort&#174; G-series, ePort Mobile&#174; for customers on the go, ePort&#174; Interactive, and
            QuickConnect, an API Web service for developers. Through its acquisition of Cantaloupe Systems, Inc. ("Cantaloupe"), the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory
            management, warehouse and accounting management solutions. Cantaloupe is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services.</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Contacts</font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Media:</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Joele Frank, Wilkinson Brimmer Katcher</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Tim Lynch / Meaghan Repko</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">212-355-4449</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">or</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Investors:</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Blueshirt Group</font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Monica Gould, +1 212-871-3927</font></div>
        <div style="text-align: left; color: rgb(0, 0, 0);"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><u>monica@blueshirtgroup.com</u></font></font></div>
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        <div style="text-align: left;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif; color: rgb(0, 0, 0);">Lindsay Savarese, +1 212-331-8417</font></div>
        <div style="text-align: left; color: rgb(0, 0, 0);"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><u>lindsay@blueshirtgroup.com</u></font></font></div>
        <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #0563C1;"><u> <br>
              </u></font></font></div>
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              </u></font></font></div>
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            serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; color: #0563C1;"><u> </u></font></font></div>
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