
Mr. Betts’s employment agreement entitles him to receive an annual base salary of $450,000 and is eligible for an annual bonus in an amount of up to 50% of his then current base salary. He is also entitled to twelve months severance pay.
Kirk Sanford, 41, resigned as the President, CEO, Secretary and interim CFO of the Company, on October 31, 2007. Effective upon his resignation, Mr. Sanford also resigned from the Board of Directors of the Company. Mr. Sanford was reported to be retiring from the company to pursue other interests and spend time with his family.
The CFO, Harry C. Hagerty III, was terminated on July 27, 2007. Mr. Hagerty’s employment agreement had expired on July 12, 2007 and Mr.Hagerty's employment reverted to an "at will" employee. Prior to joining GCA, Mr. Hagerty was Executive Vice President and CFO of Caesars Entertainment, Inc.
1. “Global Cash Access Names Scott H. Betts President and CEO.” Business Wire. Company Press Release. October 31, 2007
2. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers, Financial Statements. November 2, 2007.
3. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers, Regulation FD Disclosure. July 27, 2007.
4. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers. July 24, 2007.