This excerpt taken from the TRXI 8-K filed Jun 30, 2008.
Item 1.02 Termination of a Material Definitive Agreement.
On June 30, 2008, TRX Technology Services, L.P. (TRX Technology), a wholly-owned subsidiary of TRX, Inc. (TRX or the Company) and BCD Travel USA LLC (formerly known as WorldTravel Partners I, LLC) (BCD Travel) provided mutual notice of the parties intent not to renew the Amended and Restated Master Agreement dated January 1, 2006, by and between TRX Technology and BCD Travel, as amended (the Master Agreement). The parties are in discussions regarding a new contract for TRX services, and the six-month notice is required pursuant to Section 14.2 of the Master Agreement. As a result of the notice, the Master Agreement will expire by its terms on December 31, 2008, and will not automatically renew for an additional one (1) year term.
Under the terms of the Master Agreement, TRX provides services related to online booking and reservation processing for BCD Travel and BCD Travels global partners. The description of the Master Agreement is qualified in its entirety by reference to the Master Agreement filed as Exhibit 10.1 to the Companys quarterly report on Form 10-Q filed May 4, 2006 and Amendment 1 to the Master Agreement dated March 20, 2008 filed as Exhibit 10.1 to the Companys quarterly report on Form 10-Q filed May 2, 2008, and are incorporated herein by reference.
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.