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CASY > SEC Filings for CASY > Form 8-K on 19-Dec-2012All Recent SEC Filings

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Form 8-K for CASEYS GENERAL STORES INC


19-Dec-2012

Change in Directors or Principal Officers, Financial Statements and Exh


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 18, 2012, Casey's General Stores, Inc. (the "Company") entered into an Amendment to Employment Agreement (the "Amendment") with Robert J. Myers, President and Chief Executive Officer. Mr. Myers has been serving as President and Chief Executive Officer of the Company under the terms of an Employment Agreement dated April 16, 2010 (the "Prior Agreement", which is described in the Form 8-K filed on April 21, 2010), under which Mr. Myers' term of employment was scheduled to expire on April 30, 2013.

The Amendment generally provides for the continued employment of Mr. Myers as President and Chief Executive Officer through April 30, 2015 (the "Term") under the terms of the Prior Agreement. The Amendment also provides that the retirement benefit payable to Mr. Myers (or his spouse, in the event of his death) under the Prior Agreement, in the amount of $330,000 per year, shall be paid in monthly installments commencing on January 1 of the year following Mr. Myers' separation from service, and continuing for a period of ten years thereafter or until the death of Mr. Myers and his spouse, if earlier. All other provisions of the Prior Agreement remain in effect.

In connection with the extension of the term of the Prior Agreement, the Compensation Committee of the Board of Directors of the Company approved the execution of an Amendment to Restricted Stock Award Agreement (the "RSU Amendment"), also effective as of December 18, 2012. The RSU Amendment modifies the vesting provision in a June 8, 2012 award agreement with Mr. Myers (relating to an award of 5,649 restricted stock units that vest on June 8, 2015) to allow vesting following Mr. Myers' retirement from employment.

The foregoing summary of the Amendment and the RSU Amendment is a general description only and is qualified in its entirety by reference to the full text of the Amendment and the RSU Amendment which are filed as Exhibits 99.1 and 99.2 to this Current Report, and are incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The exhibits accompanying this report are listed in the Exhibit Index attached hereto.


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