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EZPW > SEC Filings for EZPW > Form 8-K on 28-Aug-2014All Recent SEC Filings

Show all filings for EZCORP INC

Form 8-K for EZCORP INC


Change in Directors or Principal Officers

Item 5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) Effective August 25, 2014, the Board of Directors (1) terminated the EZCORP, Inc. Executive Severance Pay Plan (the "General Severance Plan"), acting pursuant to Section 9.4 of such plan, which gives the Company the right to terminate the plan at any time and for any reason, and (2) reinstated all pre-existing severance arrangements described in various employment agreements or offer letters at the time the General Severance Plan was adopted.

Effective August 27, 2014, the Board of Directors approved a severance benefit for Thomas H. Welch, Jr., Senior Vice President, General Counsel and Secretary, under which Mr. Welch will be entitled to salary continuation of one year in the event that his employment is terminated without cause. Mr. Welch was the only executive officer who did not have a pre-existing severance arrangement at the time the General Severance Plan was approved, and the approved benefit is consistent with the severance arrangement applicable to the other executive officers (including the other Named Executive Officers).

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