Sample Business Contracts

Executive Employment Agreement [Addendum No. 3] - First Cash Financial Services Inc. and Rick L. Wessel

Employment Forms

  • Employment Agreement. Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
  • Consulting Agreement. Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • Commission Agreement. Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Executive Employment Agreement. Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
  • Sales Representative Contract. Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
  • More Employment Agreements

Sponsored Links

                              THIRD ADDENDUM TO

      This Third Addendum to Executive Employment Agreement (the "Addendum")
 is made this 21st day of October 2003, by and between First Cash Financial
 Services, Inc. (the "Company"), a Delaware corporation, and Rick L. Wessel
 (the "Executive").  The Company and Executive may be hereinafter
 collectively referred to as the "Parties."


 A.   Executive is employed by the Company pursuant to an Executive
      Employment Agreement dated as of September 30, 2000 (the "Original
      Agreement"), as amended by the First Addendum to Executive Employment
      Agreement dated March 21, 2002 and the Second Addendum to Executive
      Employment Agreement dated October 24, 2002.

 B.   The Parties jointly wish to make additions to the Original Agreement.

 C.   The additions to the Original Agreement are set forth in this Addendum.


      NOW, THEREFORE, in consideration of the promises, terms, covenants and
 conditions set forth herein and in the Original Agreement, and for other
 good and valuable consideration, the receipt of which is undisputed and
 hereby acknowledged, the Parties agree as follows:

      1.   Extension of Term.  Executive  has met the stipulated  performance
 criteria established by the  Board.  Accordingly,  pursuant to the  Original
 Agreement, Executive's term of Employment has been extended through December
 31, 2008.

      2.   Base Salary.   As  a result  of Executive  meeting the  stipulated
 performance criteria  established by  the Board  for 2001,  the  Executive's
 annual base salary was increased to $350,000 for the period from January  1,
 2002 until December 31, 2002.   Again as a  result of Executive meeting  the
 stipulated performance criteria for 2002, the Executive's annual base salary
 for the period from January 1, 2003 until December 31, 2003 was increased to
 $450,000.  Again as a result of Executive meeting the stipulated performance
 criteria for 2003, the  Executive's annual base salary  for the period  from
 January 1, 2004 until  December 31, 2004 was  increased to $495,000.  During
 the remaining term of Executive's employment, Executive's annual base salary
 shall not be decreased, but shall be adjusted annually in each December at a
 rate of no less than 10%  of the current year's  base salary.  In  addition,
 the compensation committee of the Board may determine such other adjustments
 as may be appropriate based on  the Executive's performance during the  most
 recent performance  period, in  accordance with  the Company's  compensation

      3.    Interpretation.

 a.   No Other Additions.  Sections 1  and 2 of this Addendum constitute  the
 only additions to  the Original Agreement,  all other  terms and  conditions
 therein shall remain unaltered.

 b.   Definitions.   All  capitalized terms  used  herein and  not  otherwise
 defined shall  have  the same  meaning  assigned  to them  in  the  Original

 c.   Severability.   Should  any one  or  more  of the  provisions  of  this
 Addendum be determined to be illegal or unenforceable, all other  provisions
 of this Addendum  shall be  given effect  separately from  the provision  or
 provisions determined  to  be illegal  or  unenforceable and  shall  not  be
 effected thereby.

 d.   Choice of Law.   This Addendum shall be  governed by, and construed  in
 accordance with, the laws of the State of Texas.

 f.   Headings.  The  headings of sections  and paragraphs  of this  Addendum
 have been inserted for convenience of reference only and do not constitute a
 part of this Addendum.

 g.   Counterparts.  This Addendum may  be executed in multiple  counterparts
 with the same effect as if  all parties had signed  the same document.   All
 such counterparts shall be deemed an  original, shall be construed  together
 and shall constitute one and the same instrument.

 IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be  duly
 executed and delivered as of the day first above written.


 By: /s/ Phillip E. Powell
     Phillip E. Powell
     Chief Executive Officer


 /s/ Rick L. Wessel
 Rick L. Wessel