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As Of Filer Filing For·On·As Docs:Size Issuer Agent 7/25/08 Cash America International Inc 10-Q 6/30/08 8:1.0M RR Donnelley |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 533K 2: EX-10.1 Revolving Credit Facility Agreement HTML 122K 3: EX-10.2 Business Overdraft Facility HTML 22K 4: EX-10.3 Separation of Employment Agreement HTML 46K 5: EX-31.1 Certification of CEO Officer HTML 13K 6: EX-31.2 Certification of CFO Officer HTML 13K 7: EX-32.1 Certification of CEO Pursuant to Section 906 HTML 8K 8: EX-32.2 Certification of CFO Pursuant to Section 906 HTML 8K
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(1) | If you agree to and accept the terms contained in this Agreement, you must sign the Agreement in the space provided below and return one fully executed original of this Agreement to the Company by July 22, 2008, which date is more than 21 days after the date that this Agreement is being delivered to you. If you elect to sign this Agreement and return an original of it to the Company, you will have seven (7) days after you deliver the original of the Agreement to the Company during which you may revoke your acceptance. If you choose to revoke your acceptance, you must notify the Company in writing, and the Company must receive the notification by the expiration of this seven-day period. If you do not sign this Agreement within the time period required by law, or if you revoke your acceptance during the revocation period described above, this Agreement will be of no further force or effect, and you will not be entitled to any of the |
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(2) | Your separation from all offices and positions held by you in the Company will be effective as of June 30, 2008. |
(3) | If you sign the Agreement in the manner described in paragraph (1) above and you do not thereafter revoke your acceptance, the Company will pay to you a single lump-sum payment in the total gross amount of $287,335.20 (less all applicable deductions), on January 31, 2009. |
(4) | The Company will make additional payments to you over the 18-month period commencing July 1, 2008, and ending December 31, 2009 (such payments being referred to herein as the “Salary Continuation Payments”); provided, however, that if you do not sign the Agreement in the manner described in paragraph (1) above, or if you do sign the Agreement but thereafter revoke your acceptance as described in paragraph (1) above, in either such event, none of the Salary Continuation Payments to be made after July 31, 2008, will be made and all such amounts instead will be forfeited by you. The total gross amount of the Salary Continuation Payments shall be $630,540.00 (i.e., such amount being 150% of your current base annual salary of $420,360.00), and actual payments shall be less all applicable deductions. The Salary Continuation Payments will be made in substantially equal installments over such 18-month period in accordance with the Company’s normal payroll practices and policies for senior executive officers. |
(5) | If you elect to continue health coverage under the group health plan continuation coverage provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and/or under the Company’s supplemental executive medical expense reimbursement plan, then, while such coverage is in effect, for the 18-month period commencing on your Severance Date, your premium for such coverage shall be equal to the amounts (if any) that similarly-situated active employees would pay for similar coverage under the Company’s plans during that period. The reduction in your premium responsibility may be effected through reimbursement from the Company or a discount in your premium amount, as determined by the Company in its discretion. It will be your responsibility to complete and return the election form(s) to the Benefits Department. The COBRA and extended coverage provided for in this paragraph (5) includes those benefits provided generally to covered executive level employees. The post-employment coverage described in this paragraph will end due to any reason COBRA continuation coverage ends or would have ended (such as, for example, your becoming covered under a group health plan of another employer or your dependents losing their dependent status). |
(6) | The Company shall pay for the cost of outplacement expenses for up to $14,000.00. The Company will provide such outplacement services by direct payment to the outplacement service provider Right Management. |
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(7) | This Agreement provides for any and all payments to you for any reason associated with your employment with the Company up to and including June 30, 2008. You will not be entitled to receive any amounts under any other plan, program or agreement with the Company (including without limitation incentive pay under the Cash America 2008 Short Term Incentive Plan or any other incentive plan, Restricted Stock Units (including the 2008 special award) or any other awards under the Cash America International, Inc. 2004 Long-Term Incentive Plan, and any agreement or arrangement providing benefits or payments in the event of a change in corporate control), and all other benefits and perquisites that you are currently receiving will cease on June 30, 2008. The foregoing will not, however, affect any vested benefits to which you are entitled after separation under the terms of any Company benefit or compensation plan in which you are a participant. | |
(8) | You agree not to say, write, do, authorize or otherwise create or publish anything that will in any way disparage the Company or any of its employees. You also agree not to interfere with the management of the Company through any contact with shareholders, directors, employees, vendors and others, and not to make any public or private statements or comments that may have the effect of disrupting operations of the Company in any way. | |
(9) | The terms and conditions of this Agreement are to be held in strict confidence by you and characterized as “confidential information.” The Parties further agree that the terms and conditions of this Agreement will not be further disclosed to any other person or entity (with the exception of the Parties’ attorneys, accountants and your current spouse, provided such individuals agree to maintain the confidentiality requirements of this paragraph (9)), unless such party is required to do so by a valid order of a court of competent jurisdiction, or as required by law. Any disclosure of “confidential information” to any third-party will be construed as a material breach of this Agreement. | |
(10) | It is further agreed that you will return to the Company, on or before July 1, 2008, all Company property currently in your possession, including without limitation, computers, PDAs, keys, credit cards, cellular phones, pagers and all papers, lists and other materials that relate to, or involve, the business of the Company and that are in your possession or control. | |
(11) | You further agree to give up any claim to reinstatement with the Company. | |
(12) | You acknowledge that during the term of your employment you have been privy to confidential and proprietary information of the Company. You agree to not disclose to any third party the trade secrets, proprietary information, marketing strategies, business strategies, business plans, pricing data, legal analyses, financial information, insurance information, customer lists, customer information, creditor files, processes, policies, procedures, research, lists, methodologies, specifications, software, software code, computer systems, software and hardware architecture and specifications, customer information systems, point of sale systems, management information systems, software |
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(13) | You agree that, for 18 months after your Severance Date, you will not, directly or indirectly, solicit, recruit or induce any employee, officer, agent or independent contractor of the Company to terminate such party’s engagement with the Company so as to work for any person or business which competes with the Company for talent; provided, the restrictions set forth in this provision will only apply to employees, officers, agents or independent contractors with whom you had business contact during the 12-month period prior to your Severance Date. | |
(14) | You agree that, for 18 months after your Severance Date, you will not, on your own behalf or on behalf of any other person or entity (including without limitation any entity that you may form, join, consult with, provide services or assistance to or on behalf of, or otherwise become affiliated with), compete with the Company anywhere within the Territory by providing management or consulting services similar to those you provided to the Company with respect to any products or services similar to those offered (or under development) by the Company on your Severance Date (“Company Products and Services”). For purposes of this Agreement, the term “Territory” will mean any territory in which the Company offers Company Products or Services on the Severance Date, plus any additional territory into which the Company has actively and directly sought to expand during the 12-month period preceding the Severance Date in which you were involved. | |
(15) | You agree that, for 18 months after your Severance Date, you will not, on your own behalf or on behalf of any other person or entity, solicit, initiate contact, call upon, initiate communication with or attempt to initiate communication with any customer or client of the Company or any representative of any customer or client of the Company, with a view to providing Company Products and Services to such clients or customers; provided, the restrictions set forth in this provision will apply only to customers or clients |
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(16) | You acknowledge and agree that the provisions hereof relating to confidential and proprietary information, nonsolicitation of employees and agents, noncompetition, and nonsolicitation of customers and clients (collectively, the “Covenants”) are reasonable and valid and do not impose limitations greater than those that are necessary to protect the business interests and confidential information of the Company. You expressly agree and consent that, and represent and warrant to the Company that, the Covenants will not prevent or unreasonably restrict or interfere with your ability to make a fair living. You agree that the invalidity or unenforceability of any one or more of the Covenants, or any part thereof, will not affect the validity or enforceability of the other Covenants, all of which are inserted conditionally on their being valid in law. In case any one or more of the Covenants contained in this Agreement shall be held to be invalid, illegal or unenforceable in any respect for any reason, such invalidity, illegality or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable Covenant had never been contained herein. You also agree that in the event any court of appropriate jurisdiction should determine that any portion or provision of any Covenant is invalid, unenforceable or excessively restrictive, you and the Company will request such court to rewrite such Covenant in order to make such Covenant legal, enforceable and acceptable to such court to the maximum extent permissible under applicable law. You agree that the Covenants contained in this Agreement are severable and divisible; that none of such Covenants depends on any other Covenant for its enforceability; that such Covenants constitute enforceable obligations between you and the Company; that each such Covenant will be construed as an agreement independent of any other Covenant of this Agreement; and that the existence of any claim or cause of action by one party to this Agreement against the other party to this Agreement, whether predicated on this Agreement or otherwise, will not constitute a defense to the enforcement by any party to this Agreement of any such Covenant. | |
You agree that any remedy at law for any breach of the Covenants will be inadequate and that the Company will be entitled to apply for injunctive relief in addition to any other remedy the Company might have under this Agreement or applicable law. | ||
You acknowledge that, in addition to seeking injunctive relief, the Company may bring a cause of action against you for any and all losses, liabilities, damages, deficiencies, costs (including, without limitation, court costs), and expenses (including, without limitation, reasonable attorneys’ fees), incurred by the Company and arising out of or due to any breach of any of the Covenants. In addition, you agree that either party may bring an action against the other for breach of any other provision of this Agreement. | ||
(17) | This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and guidance issued thereunder (“Section 409A”) and shall be construed accordingly. Any payments or distributions payable to |
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Very truly yours, Cash America Management L.P. By its General Partner, Cash America Holding, Inc. |
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By: | /s/ Daniel R. Feehan | |||
Title: | President & CEO | |||
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/s/ Jerry Wackerhagen | ||||
Signature |
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6-30-08 | ||||
Date | ||||
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This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/09 | 10-K, 11-K | |||
1/31/09 | 4 | |||
8/1/08 | ||||
7/31/08 | ||||
Filed on: | 7/25/08 | |||
7/22/08 | ||||
7/1/08 | ||||
For Period End: | 6/30/08 | 8-K | ||
5/25/05 | ||||
List all Filings |