Experienced Management Team
25
George R. Jensen, Jr. , Chairman and Chief Executive Officer
Mr. Jensen has been the Chief Executive Officer and Director of USA Technologies since January 1992. He is
the founder, and was Chairman, Director, and Chief Executive Officer of American Film Technologies, Inc.
("AFT") from 1985 until 1992. AFT was in the business of creating color imaged versions of black-and-white
films. From 1979 to 1985, Mr. Jensen was Chief Executive Officer and President of International Film
Productions, Inc. He served as Executive Producer of the twelve-hour miniseries, "A.D.", a $35 million dollar
production filmed in Tunisia. Procter and Gamble, Inc., the primary source of funds, co-produced and
sponsored the epic, which aired in March 1985 for five consecutive nights on the NBC network. Mr. Jensen
was also the Executive Producer for the 1983 special for public television, "A Tribute to Princess Grace."
From 1971 to 1978, Mr. Jensen was a securities broker, primarily for the firm of Smith Barney, Harris
Upham. He was chosen 1989 Entrepreneur of the Year in the high technology category for the Philadelphia,
Pennsylvania area by Ernst & Young LLP and Inc. Magazine. Mr. Jensen received his Bachelor of Science
Degree from the University of Tennessee and is a graduate of the Advanced Management Program at the
Wharton School of the University of Pennsylvania.
Stephen P. Herbert, President and Chief Operating Officer
Mr. Herbert was elected a Director of USA Technologies in April 1996. He joined USA Technologies on May 6,
1996. Prior to joining USA Technologies he had been employed by Pepsi-Cola, the beverage division of
PepsiCo, Inc. since 1986. From 1994 to April 1996, he was a Manager of Market Strategy. In that position,
he was responsible for directing development of market strategy for the vending channel and subsequently
the supermarket channel for Pepsi-Cola in North America. Prior to that, Mr. Herbert held various sales and
management positions with the Pepsi-Cola Company. He graduated with a Bachelor of Science degree from
Louisiana State University.
David M. DeMedio, Chief Financial Officer
Mr. DeMedio joined USA Technologies in March 1999. Prior to being named Chief Financial Officer in April
2005, Mr. DeMedio served as Controller and Director of Network and Financial Services at USA. From 1996 to
March 1999, Mr. DeMedio had been employed by Elko, Fischer, Cunnane and Associates, LLC as a supervisor
in its accounting and auditing and consulting practice. Prior thereto, Mr. DeMedio held various accounting
positions with Intelligent Electronics, Inc., a multi-billion reseller of computer hardware and configuration
services. Mr. DeMedio received his Bachelor of Science in Business Administration from Shippensburg
University and is a Certified Public Accountant.
