Vice President, Finance Employment Agreement

Letterhead


American Banknote Corporation


January 29, 1999


Patrick Gentile 14 Red Rose Circle Darren, CT 06820


Dear Pat,


This letter confirms your compensation and benefits package as of the date of this letter.


You will continue to hold the position of Senior Vice President, Finance and Chief Accounting Officer of American Banknote Corporation ("ABN"). Your present base compensation is $185,000 annually, subject to annual reviews in accordance with Company policy. You will continue to participate in the Company's Executive Incentive and Benefits programs in effect for senior employees at your level. Your targeted bonus opportunities under Challenge 2000 or a similar based program are benchmarked at 37.5% of your annual base salary measured against specific corporate financial results, to a maximum of 50% of base salary if the Company exceeds such results by 120%. In addition, you are eligible to receive a bonus of 37.5% of your base salary to a maximum of 50%, depending on whether you meet or exceed your individual performance goals. 1998s minimum bonus will be 50% of base.


You are eligible to continue to participate in the Company's Long-Term Incentive, the various Employee Stock Option Plans (and by this letter we are confirming the awards previous made to your und ...