Amendment to Employment Agreement between Portfolio Recovery Associates, Inc. and Judy Scott

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between Judy Scott and Portfolio Recovery Associates, Inc., effective January 1, 2009. It states that if Judy Scott experiences a qualifying separation from service, any termination payment she is eligible for will not be paid until six months after her termination date. All other terms of the original agreement remain unchanged, and this amendment takes precedence in case of any conflict.

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EX-10.8 6 w77388exv10w8.htm EX-10.8 exv10w8
Exhibit 10.8
AMENDMENT TO EMPLOYMENT AGREEMENT
     This amendment (the “Amendment”), effective as of January 1, 2009, amends the Agreementvii between Judy Scott (“Employee”) and the Company, dated November 14, 2008.
     If, during the term of the Agreement, an event that would be considered a Separation from Service (as that term is defined by the Internal Revenue Service) occurs that makes Employee eligible to receive a form of termination paymentviii, the Company shall not issue such payment prior to the expiration of six (6) months from the Date of Termination.
     If there is any conflict between this Amendment and the Agreement, the Amendment shall prevail. Except as provided herein, the terms of the Agreement remain unchanged.
     IN WITNESS HEREOF, the parties hereto have executed this Amendment.
Dated: December 31, 2008
PORTFOLIO RECOVERY ASSOCIATES, INC.
         
By:
Name:
  /s/ Steve Fredrickson
 
Steve Fredrickson 		   
Title:
  Chief Executive Officer    
EMPLOYEE
Judy Scott
/s/ Judith Scott
 
vii   Capitalized terms not defined herein shall have the same meanings ascribed to them in the Agreement.
 
viii   Such events may include, but are not limited to termination for disability, constructive termination and or non-renewal of the Agreement, if applicable.