Second Amendment to First Amended and Restated Executive Employment Agreement of Rick L. Wessel with First Cash Financial Services, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between First Cash Financial Services, Inc. and Rick L. Wessel. It extends the term of Wessel's employment to December 31, 2018, and sets his annual salary at $963,040 starting January 1, 2013. All other terms of the original agreement remain unchanged. Wessel has acknowledged the opportunity to consult with his own legal counsel before signing this amendment.

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EX-10.2 2 fcfs06302013exhibit102.htm EXHIBIT 10.2 FCFS 06.30.2013 Exhibit 10.2

EXHIBIT 10.2

AMENDMENT NO. 2 TO FIRST AMENDED AND RESTATED
EXECUTIVE EMPLOYMENT AGREEMENT OF RICK L. WESSEL


This is the Second Amendment (“Second Amendment”) to the First Amended and Restated Executive Employment Agreement of Rick L. Wessel originally entered into as of October 16, 2007, as amended with Amendment No. 1 dated January 1, 2010, (the "Agreement"), by and between First Cash Financial Services, Inc. (the “Company”), a Delaware corporation, and Rick L. Wessel (the "Executive"). This Second Amendment shall apply prospectively and is effective as of July 23, 2013.     

WHEREAS, Executive is presently serving the Company as an employee pursuant to the Agreement between the parties (said Agreement including all previous amendments and/or addenda, if any), and the parties desire to modify the Agreement as set forth below.

NOW, THEREFORE, in consideration of the mutual covenants and obligations hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.
In paragraph 4 of the Agreement, replace the term “December 31, 2015” with “December 31, 2018.”

2.
In paragraph 7(a) of the Agreement, replace the content of section (iii) with the following: “(iii) be payable at the annual rate of $963,040 beginning January 1, 2013.”

3.
Except as modified herein, the remainder of the Agreement shall remain unchanged.

EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS FIRST AMENDMENT WITH HIS PRIVATE LEGAL COUNSEL AND HAS AVAILED HIMSELF OF THAT OPPORTUNITY.

FIRST CASH FINANCIAL SERVICES, INC.
EXECUTIVE
 
 
By:
 
 
 
 
Mikel D. Faulkner
Rick L. Wessel
 
Chairman of the Compensation Committee