Second Amendment to Consulting Agreement between First Cash Financial Services, Inc. and Phillip Eric Powell

Contract Categories: Human Resources › Consulting Agreements
Summary

This amendment updates the consulting agreement between First Cash Financial Services, Inc. and Phillip Eric Powell. It extends the agreement's term to December 31, 2016, and increases the consultant's compensation from $600,000 to $700,000, removing the guaranteed minimum payment. All other terms of the original agreement remain unchanged. Both parties have agreed to these modifications, and the consultant has had the opportunity to consult with legal counsel.

View More
EX-10.1 2 exh10-1.htm AMENDMENT NO. 2 TO CONSULTING AGREEMENT, EXHIBIT 10.1 FCFS CONSULTING AGREEMENT EXHIBIT 10.1

 

Exhibit 10.1

AMENDMENT NO. 2 TO CONSULTING AGREEMENT OF PHILLIP ERIC POWELL

 

     This is the Second Amendment ("Second Amendment") to the Consulting Agreement of Phillip Eric Powell originally entered into as of January 1, 2005 (the "Agreement"), by and between First Cash Financial Services, Inc. (the "Company"), a Delaware corporation, and Phillip Eric Powell (the "Consultant"). This Second Amendment shall apply prospectively and is effective as of January 1, 2010.

     WHEREAS, Consultant is presently serving the Company as an independent contractor 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, 2014" with "December 31, 2016."
   

2.

In paragraph 7(a) of the Agreement, replace the term "$600,000", as amended by the First Amendment, with "$700,000." In addition, delete the phrase "as a guaranteed minimum amount."
   

3.

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

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

First Cash Financial Services, Inc.

  

Consultant
     

By:_____________________________

 

______________________________

     Rick L. Wessel

  

Phillip Eric Powell

     Chief Executive Officer