Safecard Services Inc – ‘10-K’ for 10/31/93 – EX-10

As of:  Monday, 1/31/94   ·   For:  10/31/93   ·   Accession #:  86103-94-3   ·   File #:  1-10411

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        1993 Form 10-K                                        29±   164K 
 5: EX-10       Amended Complaint Filed December 1, 1993              46±   171K 
 4: EX-10       Forms of Non-Qualified Stock Option Agreements        10±    40K 
 3: EX-10       Indemnification Agreements                            18±    91K 
 6: EX-10       Investor Relations Letter Agreement Dated 1/6/94       1      9K 
 7: EX-10       Investor Relations Letter Agreement Dated 12/20/93     1      9K 
 9: EX-10       Letter Agreement Dated December 4, 1992                1      9K 
 8: EX-10       Letter Agreement Dated May 28, 1992                    2±     9K 
 2: EX-10       Third Amendment to Agreement With Citibank             4±    19K 
10: EX-11       Computation of Earnings Per Share                      2      9K 
11: EX-13       1993 Annual Report                                    28±   127K 
12: EX-15       Consent of Independent Accountants                     1      7K 
13: EX-22       Subsidiaries                                           1      5K 

EX-10   —   Letter Agreement Dated May 28, 1992

EXHIBIT 10(aq)                                                                  
May 28, 1992        

Ms. Lynn Torrent                                                                
Controller                                                                      
SafeCard Services, Incorporated                                                 
6400 Northwest Sixth Way                                                        
Fort Lauderdale, Florida  33309                                                 

Dear Lynn:                                                                      

 As additional inducement for you to relocate with SafeCard to Cheyenne,
Wyoming (over and above the incentives outlined in the standard Relocation      
Policy which you have received), the following provisions will apply if and     
when you relocate to Cheyenne:                                                  

1.   You will become Chief Financial Officer of SafeCard.             

2.   SafeCard will loan you up to 20% of the purchase price           
(up to a maximum purchase price of $150,000) of a home in   
 Cheyenne.  This amount will be evidenced by a note payable to
   SafeCard and will be secured by a second mortgage on your home.
    The loan will be non interest bearing for a period of two years.
     You are to repay the principal balance from the net proceeds from
      any bonuses which you may receive during that two year period.  At
     the end of the two year period, any unpaid principal balance will
be due in its entirety.                                     

3.   To alleviate your concern that you may not adjust to             
Cheyenne after being there a couple of years, the           
following will apply.  If you for any reason give written   
notice of termination of your employment with SafeCard      
not less than twenty-four (24) months but not more than     
    thirty-six (36) months after your Relocation Date (as defined in
    the Relocation Agreement), then, if you have purchased a home in
Cheyenne for your residence, SafeCard will, at your option, 
      purchase the home from you at that time for the price you paid for
      that home plus the cost of permanent capital improvements.  You of
   course may sell the home yourself and be entitled to any profit
which you may make on such sale.                            

I trust that this will provide the additional comfort in relocating to
Wyoming.                                                                        
Sincerely,          

/s/ Steven J. Halmos

Steven J. Halmos    

Agreed:                                                                         

/s/ Lynn Torrent                   5/26/92                                      
---------------------              -------------                                
Lynn Torrent                       Date                                         

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
Filed on:		1/31/94		10-Q
For Period End:		10/31/93		10-K,  10-K/A,  DEF 14A
		5/28/92
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