Document:

<PAGE>   1
                                                                    EXHIBIT 10.8

                              AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000, by and between (i) Carolyn Speese, an individual ("Mrs.
Speese"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware limited
partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the State of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Partnership"), (ix)
Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), and (xv) the Matthew Talley Family Trust #2, a
trust organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"). All terms used herein but not defined herein
shall have the meaning provided in the Stockholders Agreement (as defined
below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, in connection with Speese's estate planning, it is currently
contemplated that Mrs. Speese will acquire a portion of the Speese Included
Shares from Speese; and

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument confirming that the Permitted Transferee agrees to be
bound by the terms of the Stockholders Agreement in the same manner as the
Permitted Transferee's transferor.

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, Mrs. Speese hereby (i) acknowledges that she has read the Stockholders
Agreement and (ii) agrees to be bound by all the terms and conditions set forth
in the Stockholders Agreement as a Permitted Transferee and a

<PAGE>   2

Management Stockholder with respect to all Speese Included Shares in which she
holds any direct or indirect pecuniary, beneficial or voting interest, including
as an individual, shareholder, trustee, beneficiary or otherwise. Furthermore,
Mrs. Speese acknowledges that the Speese Included Shares acquired by her will
contain the legend set forth on Exhibit "A" hereto and the Company covenants to
place such a legend on any Speese Included Shares that Mrs. Speese acquires.
This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto, and their respective successors and permitted assigns; provided
that neither this Agreement nor any rights or obligations hereunder may be
transferred by Mrs. Speese except to a Permitted Transferee in accordance with
Section 2.2 of the Stockholders Agreement. This Agreement shall be attached to
and become a part of the Stockholders Agreement.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>   3

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                               /s/ Carolyn Speese
                               ------------------------------------------------
                               Carolyn Speese

                               RENT-A-CENTER, INC.
                               a Delaware corporation

                               By: /s/ Robert D. Davis
                                    -------------------------------------------
                               Name: Robert D. Davis
                                     ------------------------------------------
                               Title: Chief Financial Officer
                                      -----------------------------------------

                               APOLLO INVESTMENT FUND IV, L.P.
                               a Delaware limited partnership

                               By:      Apollo Advisors IV, L.P.
                                        its General Partner

                                        By:   Apollo Capital Management IV, Inc.
                                              its General Partner

                                            By: /s/ Peter Copses
                                                -------------------------------
                                            Name: Peter Copses
                                                 ------------------------------
                                            Title: Vice President
                                                   ----------------------------

                               APOLLO OVERSEAS PARTNERS IV, L.P.
                               an exempted limited partnership registered
                               in the Cayman Islands

                               By:      Apollo Advisors IV, L.P.
                                        its General Partner

                                        By:   Apollo Capital Management IV, Inc.
                                              its Managing General Partner

                                            By: /s/ Peter Copses
                                               --------------------------------
                                            Name: Peter Copses
                                                  -----------------------------
                                            Title: Vice President
                                                   ----------------------------

                               /s/ J. Ernest Talley
                               ------------------------------------------------
                               J. Ernest Talley

                               /s/ Mark E. Speese
                               ------------------------------------------------
                               Mark E. Speese

                               /s/ Mary Ann Talley
                               ------------------------------------------------
                               Mary Ann Talley

<PAGE>   4

                               /s/ Matthew Talley
                               ------------------------------------------------
                               Matthew Talley

                               /s/ Mark Talley
                               ------------------------------------------------
                               Mark Talley

                               MARK ANDREW TALLEY FAMILY TRUST #1

                               /s/ Mark A. Talley
                               ------------------------------------------------
                               Mark A. Talley, as Trustee

                               MARK ANDREW TALLEY FAMILY TRUST #2

                               /s/ Mark A. Talley
                               ------------------------------------------------
                               Mark A. Talley, as Trustee

                               MATTHEW TALLEY FAMILY TRUST #1

                               /s/ Matthew Talley
                               ------------------------------------------------
                               Matthew Talley, as Trustee

                               MATTHEW TALLEY FAMILY TRUST #2

                               /s/ Matthew Talley
                               ------------------------------------------------
                               Matthew Talley, as Trustee

                               TALLEY MANAGEMENT, INC.
                               a Texas corporation

                               By: /s/ J. Ernest Talley
                                   --------------------------------------------
                               Name: J. Ernest Talley
                                     ------------------------------------------
                               Title: President
                                     ------------------------------------------

                               TALLEY PARTNERS, LTD.
                               a Texas limited partnership

                               By:      Talley Management, Inc.
                                        its General Partner

                                        By: /s/ J. Ernest Talley
                                            -----------------------------------
                                        Name: J. Ernest Talley
                                             ----------------------------------
                                        Title: President
                                              ---------------------------------

                               TALLEY 1999 TRUST

                               By: /s/ J. Ernest Talley
                                   --------------------------------------------
                               J. Ernest Talley, as Trustee

<PAGE>   5

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.

<PAGE>   6
                             AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000 by and between (i) the Mark Speese 2000 Grantor Retained Annuity
Trust, a trust organized under the laws of the State of Texas (the "Mark Speese
GRAT"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware limited
partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the State of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Partnership"), (ix)
Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), and (xv) the Matthew Talley Family Trust #2, a
trust organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"). All terms used herein but not defined herein
shall have the meaning provided in the Stockholders Agreement (as defined
below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, Speese has previously agreed to be bound by the terms to the
Stockholders Agreement; and

         WHEREAS, it is currently contemplated that the Mark Speese GRAT will
acquire a portion of the Speese Included Shares from Speese; and

         WHEREAS, Speese will serve as the sole trustee (the "Trustee") of the
Mark Speese GRAT; and

<PAGE>   7

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument confirming that the Permitted Transferee agrees to be
bound by the terms of the Stockholders Agreement in the same manner as the
Permitted Transferee's transferor.

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, the Mark Speese GRAT and the Trustee each hereby (i) acknowledges that
each of them has read the Stockholders Agreement and (ii) agrees to be bound by
all the terms and conditions set forth in the Stockholders Agreement as a
Permitted Transferee and a Management Stockholder with respect to all Speese
Included Shares in which it holds any direct or indirect pecuniary, beneficial
or voting interest. Furthermore, the Mark Speese GRAT and Trustee each hereby
acknowledges that the Speese Included Shares acquired by the Mark Speese GRAT
will contain the legend set forth on Exhibit "A" hereto, and the Company
covenants to place such a legend on any Speese Included Shares that the Mark
Speese GRAT acquires. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto, and their respective successors and permitted
assigns, including, without limitation, any successor Trustee under the Mark
Speese GRAT; provided that neither this Agreement nor any rights or obligations
hereunder may be transferred by the Mark Speese GRAT or Trustee except to a
Permitted Transferee in accordance with Section 2.2 of the Stockholders
Agreement. Except as permitted by Section 2.2 of the Stockholders Agreement, the
Mark Speese GRAT, Trustee, and Speese covenant and agree that no Person other
than Speese, Carolyn Speese, Stephen Elken, Jessica Speese, Andrew Speese or
Allison Speese can or will (A) be a Trustee or a beneficiary of the Mark Speese
GRAT, or (B) have any direct or indirect pecuniary, beneficial or voting
interest in the Mark Speese GRAT or the Speese Included Shares held by the Mark
Speese GRAT. This Agreement shall be attached to and become a part of the
Stockholders Agreement.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>   8

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.
                                MARK SPEESE 2000 GRANTOR RETAINED
                                ANNUITY TRUST

                                By: /s/ Mark E. Speese
                                    -------------------------------------------
                                Mark E. Speese, as Trustee

                                RENT-A-CENTER, INC.
                                a Delaware corporation

                                By: /s/ Robert D. Davis
                                    -------------------------------------------
                                Name: Robert D. Davis
                                      -----------------------------------------
                                Title: Chief Financial Officer
                                       ----------------------------------------

                                APOLLO INVESTMENT FUND IV, L.P.
                                a Delaware limited partnership

                                By:      Apollo Advisors IV, L.P.
                                         its General Partner

                                         By: Apollo Capital Management IV, Inc.
                                             its General Partner

                                             By: /s/ Peter Copses
                                                 ------------------------------
                                             Name: Peter Copses
                                                  -----------------------------
                                             Title: Vice President
                                                   ----------------------------

                                APOLLO OVERSEAS PARTNERS IV, L.P.
                                an exempted limited partnership registered
                                in the Cayman Islands

                                By:      Apollo Advisors IV, L.P.
                                         its General Partner

                                         By: Apollo Capital Management IV, Inc.
                                             its Managing General Partner

                                             By: /s/ Peter Copses
                                                 ------------------------------
                                             Name: Peter Copses
                                                  -----------------------------
                                             Title: Vice President
                                                   ----------------------------

                                 /s/ J. Ernest Talley
                                 ----------------------------------------------
                                 J. Ernest Talley

                                 /s/ Mark E. Speese
                                 ----------------------------------------------
                                 Mark E. Speese

<PAGE>   9

                                 /s/ Mary Ann Talley
                                 ----------------------------------------------
                                 Mary Ann Talley

                                 /s/ Matthew Talley
                                 ----------------------------------------------
                                 Matthew Talley

                                 /s/ Mark Talley
                                 ----------------------------------------------
                                 Mark Talley

                                 MARK ANDREW TALLEY FAMILY TRUST #1

                                 /s/ Mark A. Talley
                                 ----------------------------------------------
                                 Mark A. Talley, as Trustee

                                 MARK ANDREW TALLEY FAMILY TRUST #2

                                 /s/ Mark A. Talley
                                 ----------------------------------------------
                                 Mark A. Talley, as Trustee

                                 MATTHEW TALLEY FAMILY TRUST #1

                                 /s/ Matthew Talley
                                 ----------------------------------------------
                                 Matthew Talley, as Trustee

                                 MATTHEW TALLEY FAMILY TRUST #2

                                 /s/ Matthew Talley
                                 ----------------------------------------------
                                 Matthew Talley, as Trustee

                                 TALLEY MANAGEMENT, INC.
                                 a Texas corporation

                                 By: /s/ J. Ernest Talley
                                     ------------------------------------------
                                 Name: J. Ernest Talley
                                      -----------------------------------------
                                 Title: President
                                       ----------------------------------------

                                 TALLEY PARTNERS, LTD.
                                 a Texas limited partnership

                                 By:      Talley Management, Inc.
                                          its General Partner

                                         By: /s/ J. Ernest Talley
                                             ----------------------------------
                                         Name: J. Ernest Talley
                                              ---------------------------------
                                         Title: President
                                               --------------------------------

                                 TALLEY 1999 TRUST

                                 By: /s/ J. Ernest Talley
                                    -------------------------------------------
                                 J. Ernest Talley, as Trustee

<PAGE>   10

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.

<PAGE>   11
                              AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000, by and between (i) the Carolyn Speese 2000 Grantor Retained
Annuity Trust, a trust organized under the laws of the State of Texas (the
"Carolyn Speese GRAT"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware
limited partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the State of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Talley Partnership"),
(ix) Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), (xv) the Matthew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"), and (xvi) Carolyn Speese, an individual ("Mrs.
Speese"). All terms used herein but not defined herein shall have the meaning
provided in the Stockholders Agreement (as defined below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, Mrs. Speese has previously agreed to be bound by the terms of
the Stockholders Agreement; and

         WHEREAS, it is currently contemplated that the Carolyn Speese GRAT will
acquire a portion of the Speese Included Shares from Mrs. Speese; and

         WHEREAS, Speese will serve as the sole trustee (the "Trustee") of the
Carolyn Speese GRAT; and

<PAGE>   12

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument confirming that the Permitted Transferee agrees to be
bound by the terms of the Stockholders Agreement in the same manner as the
Permitted Transferee's transferor.

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, the Carolyn Speese GRAT and the Trustee each hereby (i) acknowledges
that each of them has read the Stockholders Agreement and (ii) agrees to be
bound by all the terms and conditions set forth in the Stockholders Agreement as
a Permitted Transferee and a Management Stockholder with respect to all Speese
Included Shares in which it holds any direct or indirect pecuniary, beneficial
or voting interest. Furthermore, the Carolyn Speese GRAT and Trustee each hereby
acknowledges that the Speese Included Shares acquired by the Carolyn Speese GRAT
will contain the legend set forth on Exhibit "A" hereto, and the Company
covenants to place such a legend on any Speese Included Shares that the Carolyn
Speese GRAT acquires. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto, and their respective successors and permitted
assigns, including, without limitation, any successor Trustee under the Carolyn
Speese GRAT; provided that neither this Agreement nor any rights or obligations
hereunder may be transferred by the Carolyn Speese GRAT or Trustee except to a
Permitted Transferee in accordance with Section 2.2 of the Stockholders
Agreement. Except as permitted by Section 2.2 of the Stockholders Agreement, the
Carolyn Speese GRAT, Trustee, Speese and Mrs. Speese covenant and agree that no
Person other than Speese, Mrs. Speese, Stephen Elken, Jessica Speese, Andrew
Speese or Allison Speese can or will (A) be a Trustee or a beneficiary of the
Carolyn Speese GRAT, or (B) have any direct or indirect pecuniary, beneficial or
voting interest in the Carolyn Speese GRAT or the Speese Included Shares held by
the Carolyn Speese GRAT. This Agreement shall be attached to and become a part
of the Stockholders Agreement.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>   13

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.
                                    CAROLYN SPEESE 2000 GRANTOR RETAINED
                                    ANNUITY TRUST

                                    By: /s/ Mark E. Speese
                                       ----------------------------------------
                                    Mark E. Speese, as Trustee

                                    RENT-A-CENTER, INC.
                                    a Delaware corporation

                                    By: /s/ Robert D. Davis
                                       ----------------------------------------
                                    Name: Robert D. Davis
                                         --------------------------------------
                                    Title: Chief Financial Officer
                                          -------------------------------------

                                    APOLLO INVESTMENT FUND IV, L.P.
                                    a Delaware limited partnership

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By:  Apollo Capital Management IV, Inc.
                                              its General Partner

                                            By: /s/ Peter Copses
                                               --------------------------------
                                            Name: Peter Copses
                                                 ------------------------------
                                            Title: Vice President
                                                  -----------------------------

                                    APOLLO OVERSEAS PARTNERS IV, L.P.
                                    an exempted limited partnership registered
                                    in the Cayman Islands

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By:  Apollo Capital Management IV, Inc.
                                              its Managing General Partner

                                            By: /s/ Peter Copses
                                               --------------------------------
                                            Name: Peter Copses
                                                 ------------------------------
                                            Title: Vice President
                                                  -----------------------------

                                    /s/ J. Ernest Talley
                                    -------------------------------------------
                                    J. Ernest Talley

                                    /s/ Mark E. Speese
                                    -------------------------------------------
                                    Mark E. Speese

                                    /s/ Carolyn Speese
                                    -------------------------------------------
                                    Carolyn Speese

<PAGE>   14

                                    /s/ Mary Ann Talley
                                    -------------------------------------------
                                    Mary Ann Talley

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley

                                    /s/ Mark Talley
                                    -------------------------------------------
                                    Mark Talley

                                    MARK ANDREW TALLEY FAMILY TRUST #1

                                    /s/ Mark A. Talley
                                    -------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MARK ANDREW TALLEY FAMILY TRUST #2

                                    /s/ Mark A. Talley
                                    -------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #1

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #2

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley, as Trustee

                                    TALLEY MANAGEMENT, INC.
                                    a Texas corporation

                                    By: /s/ J. Ernest Talley
                                       ----------------------------------------
                                    Name: J. Ernest Talley
                                         --------------------------------------
                                    Title: President
                                          -------------------------------------

<PAGE>   15

                                    TALLEY PARTNERS, LTD.
                                    a Texas limited partnership

                                    By:  Talley Management, Inc.
                                         its General Partner

                                         By: /s/ J. Ernest Talley
                                            -----------------------------------
                                         Name: J. Ernest Talley
                                              ---------------------------------
                                         Title: President
                                               --------------------------------

                                    TALLEY 1999 TRUST

                                    By: /s/ J. Ernest Talley
                                       ----------------------------------------
                                    J. Ernest Talley, as Trustee

<PAGE>   16

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.

<PAGE>   17

                              AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000, by and between (i) the Allison Rebecca Speese 2000 Remainder
Trust, a trust organized under the laws of the State of Texas, (the "Allison
Speese Trust"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware limited
partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the State of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Talley Partnership"),
(ix) Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), (xv) the Matthew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"), (xvi) the Mark Speese 2000 Grantor Retained
Annuity Trust, a trust organized under the laws of the State of Texas (the "Mark
Speese GRAT"), (xvii) the Carolyn Speese 2000 Grantor Retained Annuity Trust, a
trust organized under the laws of the State of Texas (the "Carolyn Speese
GRAT"), and (xviii) Carolyn Speese, an individual ("Mrs. Speese"). All terms
used herein but not defined herein shall have the meaning provided in the
Stockholders Agreement (as defined below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, Speese, Mrs. Speese, the Mark Speese GRAT and the Carolyn
Speese GRAT have previously agreed to be bound by the terms of the Stockholders
Agreement; and

         WHEREAS, it is currently contemplated that the Allison Speese Trust
may, in the future, acquire a portion of the Speese Included Shares from Speese,
Mrs. Speese or an entity created by either or both of them; and

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument confirming that the Permitted Transferee agrees to be
bound by the terms of the Stockholders Agreement in the same manner as the
Permitted Transferee's transferor.

<PAGE>   18

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, the Allison Speese Trust hereby (i) acknowledges that it has read the
Stockholders Agreement and (ii) agrees to be bound by all the terms and
conditions set forth in the Stockholders Agreement as a Permitted Transferee and
a Management Stockholder with respect to all Speese Included Shares in which it
may hold any direct or indirect pecuniary, beneficial or voting interest,
including as an individual, shareholder, trustee, beneficiary or otherwise.
Furthermore, the Allison Speese Trust acknowledges that any Speese Included
Shares acquired by it will contain the legend set forth on Exhibit "A" hereto,
and the Company covenants to place such a legend on any Speese Included Shares
that the Allison Speese Trust acquires. Except as permitted by Section 2.2 of
the Stockholders Agreement, the Allison Speese Trust, Speese, and Mrs. Speese
covenant and agree that no Person other than Speese, Mrs. Speese, Stephen Elken
or Allison Speese can or will have any direct or indirect pecuniary, beneficial
or voting interest in the Speese Included Shares held by the Allison Speese
Trust. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto, and their respective successors and permitted assigns;
provided that neither this Agreement nor any rights or obligations hereunder may
be transferred by the Allison Speese Trust except to a Permitted Transferee in
accordance with Section 2.2 of the Stockholders Agreement. This Agreement shall
be attached to and become a part of the Stockholders Agreement.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>   19

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    ALLISON REBECCA SPEESE 2000
                                    REMAINDER TRUST

                                    /s/ Stephen Elken
                                    --------------------------------------------
                                    Stephen Elken, as Trustee

                                    RENT-A-CENTER, INC.
                                    a Delaware corporation

                                    By: /s/ Robert D. Davis
                                       -----------------------------------------
                                    Name: Robert D. Davis
                                         ---------------------------------------
                                    Title: Chief Financial Officer
                                          --------------------------------------

                                    APOLLO INVESTMENT FUND IV, L.P.
                                    a Delaware limited partnership

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By: Apollo Capital Management IV, Inc.
                                               its General Partner

                                             By: /s/ Peter Copses
                                                --------------------------------
                                             Name: Peter Copses
                                                  ------------------------------
                                             Title: Vice President
                                                   -----------------------------

                                    APOLLO OVERSEAS PARTNERS IV, L.P.
                                    an exempted limited partnership registered
                                    in the Cayman Islands

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By: Apollo Capital Management IV, Inc.
                                               its Managing General Partner

                                             By: /s/ Peter Copses
                                                --------------------------------
                                             Name: Peter Copses
                                                  ------------------------------
                                             Title: Vice President
                                                   -----------------------------

                                    /s/ J. Ernest Talley
                                    --------------------------------------------
                                    J. Ernest Talley

                                    /s/ Mark E. Speese
                                    --------------------------------------------
                                    Mark E. Speese

                                    /s/ Carolyn Speese
                                    --------------------------------------------
                                    Carolyn Speese

<PAGE>   20

                                    /s/ Mary Ann Talley
                                    --------------------------------------------
                                    Mary Ann Talley

                                    /s/ Matthew Talley
                                    --------------------------------------------
                                    Matthew Talley

                                    /s/ Mark Talley
                                    --------------------------------------------
                                    Mark Talley

                                    MARK ANDREW TALLEY FAMILY TRUST #1

                                    /s/ Mark A. Talley
                                    --------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MARK ANDREW TALLEY FAMILY TRUST #2

                                    /s/ Mark A. Talley
                                    --------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #1

                                    /s/ Matthew Talley
                                    --------------------------------------------
                                    Matthew Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #2

                                    /s/ Matthew Talley
                                    --------------------------------------------
                                    Matthew Talley, as Trustee

                                    TALLEY MANAGEMENT, INC.
                                    a Texas corporation

                                    By: /s/ J. Ernest Talley
                                       -----------------------------------------
                                    Name: J. Ernest Talley
                                         ---------------------------------------
                                    Title: President
                                          --------------------------------------

                                    TALLEY PARTNERS, LTD.
                                    a Texas limited partnership

                                    By:  Talley Management, Inc.
                                         its General Partner

                                         By: /s/ J. Ernest Talley
                                            ------------------------------------
                                         Name: J. Ernest Talley
                                              ----------------------------------
                                         Title: President
                                               ---------------------------------

<PAGE>   21

                                    TALLEY 1999 TRUST

                                    By: /s/ J. Ernest Talley
                                       -----------------------------------------
                                    J. Ernest Talley, as Trustee

                                    CAROLYN SPEESE 2000 GRANTOR RETAINED
                                    ANNUITY TRUST

                                    By: /s/ Mark E. Speese
                                       -----------------------------------------
                                    Mark E. Speese, as Trustee

                                    MARK SPEESE 2000 GRANTOR RETAINED
                                    ANNUITY TRUST

                                    By: /s/ Mark E. Speese
                                       -----------------------------------------
                                    Mark E. Speese, as Trustee

<PAGE>   22

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.

<PAGE>   23

                              AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000, by and between (i) the Jessica Elizabeth Speese 2000 Remainder
Trust, a trust organized under the laws of the State of Texas, (the "Jessica
Speese Trust"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware limited
partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the State of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Talley Partnership"),
(ix) Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), (xv) the Matthew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"), (xvi) the Mark Speese 2000 Grantor Retained
Annuity Trust, a trust organized under the laws of the State of Texas (the "Mark
Speese GRAT"), (xvii) the Carolyn Speese 2000 Grantor Retained Annuity Trust, a
trust organized under the laws of the State of Texas (the "Carolyn Speese
GRAT"), and (xviii) Carolyn Speese, an individual ("Mrs. Speese"). All terms
used herein but not defined herein shall have the meaning provided in the
Stockholders Agreement (as defined below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, Speese, Mrs. Speese, the Mark Speese GRAT and the Carolyn
Speese GRAT have previously agreed to be bound by the terms of the Stockholders
Agreement; and

         WHEREAS, it is currently contemplated that the Jessica Speese Trust
may, in the future, acquire a portion of the Speese Included Shares from Speese,
Mrs. Speese or an entity created by either or both of them; and

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument

<PAGE>   24

confirming that the Permitted Transferee agrees to be bound by the terms of the
Stockholders Agreement in the same manner as the Permitted Transferee's
transferor.

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, the Jessica Speese Trust hereby (i) acknowledges that it has read the
Stockholders Agreement and (ii) agrees to be bound by all the terms and
conditions set forth in the Stockholders Agreement as a Permitted Transferee and
a Management Stockholder with respect to all Speese Included Shares in which it
may hold any direct or indirect pecuniary, beneficial or voting interest,
including as an individual, shareholder, trustee, beneficiary or otherwise.
Furthermore, the Jessica Speese Trust acknowledges that any Speese Included
Shares acquired by it will contain the legend set forth on Exhibit "A" hereto,
and the Company covenants to place such a legend on any Speese Included Shares
that the Jessica Speese Trust acquires. Except as permitted by Section 2.2 of
the Stockholders Agreement, the Jessica Speese Trust, Speese, and Mrs. Speese
covenant and agree that no Person other than Speese, Mrs. Speese, Stephen Elken
or Jessica Speese can or will have any direct or indirect pecuniary, beneficial
or voting interest in the Speese Included Shares held by the Jessica Speese
Trust. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto, and their respective successors and permitted assigns;
provided that neither this Agreement nor any rights or obligations hereunder may
be transferred by the Jessica Speese Trust except to a Permitted Transferee in
accordance with Section 2.2 of the Stockholders Agreement. This Agreement shall
be attached to and become a part of the Stockholders Agreement.

                [Remainder of this Page Intentionally Left Blank]

<PAGE>   25

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                   JESSICA ELIZABETH SPEESE 2000
                                   REMAINDER TRUST

                                   /s/ Stephen Elken
                                   --------------------------------------------
                                   Stephen Elken, as Trustee

                                   RENT-A-CENTER, INC.
                                   a Delaware corporation

                                   By: /s/ Robert D. Davis
                                      -----------------------------------------
                                   Name: Robert D. Davis
                                        ---------------------------------------
                                   Title: Chief Financial Officer
                                         --------------------------------------

                                   APOLLO INVESTMENT FUND IV, L.P.
                                   a Delaware limited partnership

                                   By:  Apollo Advisors IV, L.P.
                                        its General Partner

                                        By:  Apollo Capital Management IV, Inc.
                                             its General Partner

                                           By: /s/ Peter Copses
                                              ---------------------------------
                                           Name: Peter Copses
                                                -------------------------------
                                           Title: Vice President
                                                 ------------------------------

                                   APOLLO OVERSEAS PARTNERS IV, L.P.
                                   an exempted limited partnership registered
                                   in the Cayman Islands

                                   By:  Apollo Advisors IV, L.P.
                                        its General Partner

                                        By:  Apollo Capital Management IV, Inc.
                                             its Managing General Partner

                                           By: /s/ Peter Copses
                                              ---------------------------------
                                           Name: Peter Copses
                                                -------------------------------
                                           Title: Vice President
                                                 ------------------------------

                                   /s/ J. Ernest Talley
                                   --------------------------------------------
                                   J. Ernest Talley

                                   /s/ Mark E. Speese
                                   --------------------------------------------
                                   Mark E. Speese

<PAGE>   26

                                   /s/ Carolyn Speese
                                   --------------------------------------------
                                   Carolyn Speese

                                   /s/ Mary Ann Talley
                                   --------------------------------------------
                                   Mary Ann Talley

                                   /s/ Matthew Talley
                                   --------------------------------------------
                                   Matthew Talley

                                   /s/ Mark Talley
                                   --------------------------------------------
                                   Mark Talley

                                   MARK ANDREW TALLEY FAMILY TRUST #1

                                   /s/ Mark A. Talley
                                   --------------------------------------------
                                   Mark A. Talley, as Trustee

                                   MARK ANDREW TALLEY FAMILY TRUST #2

                                   /s/ Mark A. Talley
                                   --------------------------------------------
                                   Mark A. Talley, as Trustee

                                   MATTHEW TALLEY FAMILY TRUST #1

                                   /s/ Matthew Talley
                                   --------------------------------------------
                                   Matthew Talley, as Trustee

                                   MATTHEW TALLEY FAMILY TRUST #2

                                   /s/ Matthew Talley
                                   --------------------------------------------
                                   Matthew Talley, as Trustee

                                   TALLEY MANAGEMENT, INC.
                                   a Texas corporation

                                   By: /s/ J. Ernest Talley
                                      -----------------------------------------
                                   Name: J. Ernest Talley
                                        ---------------------------------------
                                   Title: President
                                         --------------------------------------

                                   TALLEY PARTNERS, LTD.
                                   a Texas limited partnership

                                   By:  Talley Management, Inc.
                                        its General Partner

                                        By: /s/ J. Ernest Talley
                                           ------------------------------------
                                        Name: J. Ernest Talley
                                             ----------------------------------
                                        Title: President
                                              ---------------------------------

<PAGE>   27

                                   TALLEY 1999 TRUST

                                   By: /s/ J. Ernest Talley
                                      -----------------------------------------
                                   J. Ernest Talley, as Trustee

                                   CAROLYN SPEESE 2000 GRANTOR RETAINED
                                   ANNUITY TRUST

                                   By: /s/ Mark E. Speese
                                      -----------------------------------------
                                   Mark E. Speese, as Trustee

                                   MARK SPEESE 2000 GRANTOR RETAINED
                                   ANNUITY TRUST

                                   By: /s/ Mark E. Speese
                                      -----------------------------------------
                                   Mark E. Speese, as Trustee

<PAGE>   28

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.

<PAGE>   29

                              AGREEMENT TO BE BOUND

         This Agreement to be Bound (the "Agreement") is made this 8th day of
November, 2000, by and between (i) the Andrew Michael Speese 2000 Remainder
Trust, a trust organized under the laws of the state of Texas, (the "Andrew
Speese Trust"), (ii) each of Apollo Investment Fund IV, L.P., a Delaware limited
partnership, and Apollo Overseas Partners IV, L.P., an exempted limited
partnership registered in the Cayman Islands acting through its general partner
(individually and collectively with their Permitted Transferees (as defined),
the "Purchaser"), (iii) J. Ernest Talley, an individual ("Talley"), (iv) Mark E.
Speese, an individual ("Speese"), (v) Rent-A-Center, Inc., a Delaware
corporation (formerly known as Renters Choice, Inc.) (the "Company"), (vi) Mary
Ann Talley, an individual ("Mrs. Talley"), (vii) the Talley 1999 Trust, a trust
organized under the laws of the state of Texas (the "Talley Trust"), (viii)
Talley Partners, Ltd, a Texas limited partnership (the "Talley Partnership"),
(ix) Talley Management, Inc., a Texas corporation ("Talley Management") and the
general partner of the Partnership, (x) Mark Talley, and individual ("Mark
Talley"), (xi) Matthew Talley, an individual ("Matthew Talley"), (xii) the Mark
Andrew Talley Family Trust #1, a trust organized under the laws of the State of
Texas ("Mark Trust #1"), (xiii) the Mark Andrew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Mark Trust #2"), (xiv) the
Matthew Talley Family Trust #1, a trust organized under the laws of the State of
Texas (the "Matt Trust #1"), (xv) the Matthew Talley Family Trust #2, a trust
organized under the laws of the State of Texas (the "Matt Trust #2" and,
together with Talley, Mrs. Talley, the Trust, Talley Management, the
Partnership, Matt Talley, Mark Talley, Mark Trust #1, Mark Trust #2 and Matt
Trust #1, the "Talley Persons"), (xvi) the Mark Speese 2000 Grantor Retained
Annuity Trust, a trust organized under the laws of the state of Texas (the "Mark
Speese GRAT"), (xvii) the Carolyn Speese 2000 Grantor Retained Annuity Trust, a
trust organized under the laws of the state of Texas (the "Carolyn Speese
GRAT"), and (xviii) Carolyn Speese, an individual ("Mrs. Speese"). All terms
used herein but not defined herein shall have the meaning provided in the
Stockholders Agreement (as defined below).

                                   WITNESSETH:

         WHEREAS, the Purchaser, the Company, Talley and Speese have each
entered into that certain Stockholders Agreement of Renters Choice, Inc., dated
as of August 5, 1998 (the "Stockholders Agreement") to impose certain
restrictions and obligations upon themselves and the Shares of the Company held
by them; and

         WHEREAS, in connection with Talley's estate planning, the parties to
the Stockholder's Agreement and the Talley Persons have entered into Agreements
to be Bound, dated as of September 9, 1999, supplementing the Stockholder's
Agreement; and

         WHEREAS, Speese, Mrs. Speese, the Mark Speese GRAT and the Carolyn
Speese GRAT have previously agreed to be bound by the terms of the Stockholders
Agreement; and

         WHEREAS, it is currently contemplated that the Andrew Speese Trust may,
in the future, acquire a portion of the Speese Included Shares from Speese, Mrs.
Speese or an entity created by either or both of them; and

         WHEREAS, pursuant to Section 2.2(d) of the Stockholders Agreement, all
Permitted Transferees acquiring any or all of the Speese Included Shares must
enter into an instrument

<PAGE>   30

confirming that the Permitted Transferee agrees to be bound by the terms of the
Stockholders Agreement in the same manner as the Permitted Transferee's
transferor.

         NOW, THEREFORE, in consideration of the mutual promises of the parties
and as a condition of the acquisition of the Speese Included Shares in the
Company, the Andrew Speese Trust hereby (i) acknowledges that it has read the
Stockholders Agreement and (ii) agrees to be bound by all the terms and
conditions set forth in the Stockholders Agreement as a Permitted Transferee and
a Management Stockholder with respect to all Speese Included Shares in which it
may hold any direct or indirect pecuniary, beneficial or voting interest,
including as an individual, shareholder, trustee, beneficiary or otherwise.
Furthermore, the Andrew Speese Trust acknowledges that any Speese Included
Shares acquired by it will contain the legend set forth on Exhibit "A" hereto,
and the Company covenants to place such a legend on any Speese Included Shares
that the Andrew Speese Trust acquires. Except as permitted by Section 2.2 of the
Stockholders Agreement, the Andrew Speese Trust, Speese, and Mrs. Speese
covenant and agree that no Person other than Speese, Mrs. Speese, Stephen Elken
or Andrew Speese can or will have any direct or indirect pecuniary, beneficial
or voting interest in the Speese Included Shares held by the Andrew Speese
Trust. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto, and their respective successors and permitted assigns;
provided that neither this Agreement nor any rights or obligations hereunder may
be transferred by the Andrew Speese Trust except to a Permitted Transferee in
accordance with Section 2.2 of the Stockholders Agreement. This Agreement shall
be attached to and become a part of the Stockholders Agreement.

                [Remainder of this Page Intentionally Left Blank]

<PAGE>   31

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    ANDREW MICHAEL SPEESE 2000
                                    REMAINDER TRUST

                                    /s/ Stephen Elken
                                    --------------------------------------------
                                    Stephen Elken, as Trustee

                                    RENT-A-CENTER, INC.
                                    a Delaware corporation

                                    By: /s/ Robert D. Davis
                                       -----------------------------------------
                                    Name: Robert D. Davis
                                         ---------------------------------------
                                    Title: Chief Financial Officer
                                          --------------------------------------

                                    APOLLO INVESTMENT FUND IV, L.P.
                                    a Delaware limited partnership

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By:  Apollo Capital Management IV, Inc.
                                              its General Partner

                                            By: /s/ Peter Copses
                                               ---------------------------------
                                            Name: Peter Copses
                                                 -------------------------------
                                            Title: Vice President
                                                  ------------------------------

                                    APOLLO OVERSEAS PARTNERS IV, L.P.
                                    an exempted limited partnership registered
                                    in the Cayman Islands

                                    By:  Apollo Advisors IV, L.P.
                                         its General Partner

                                         By:  Apollo Capital Management IV, Inc.
                                              its Managing General Partner

                                            By: /s/ Peter Copses
                                               ---------------------------------
                                            Name: Peter Copses
                                                 -------------------------------
                                            Title: Vice President
                                                  ------------------------------

                                    /s/ J. Ernest Talley
                                    --------------------------------------------
                                    J. Ernest Talley

                                    /s/ Mark E. Speese
                                    -------------------------------------------
                                    Mark E. Speese

<PAGE>   32

                                    /s/ Carolyn Speese
                                    -------------------------------------------
                                    Carolyn Speese

                                    /s/ Mary Ann Talley
                                    -------------------------------------------
                                    Mary Ann Talley

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley

                                    /s/ Mark Talley
                                    -------------------------------------------
                                    Mark Talley

                                    MARK ANDREW TALLEY FAMILY TRUST #1

                                    /s/ Mark A. Talley
                                    -------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MARK ANDREW TALLEY FAMILY TRUST #2

                                    /s/ Mark A. Talley
                                    -------------------------------------------
                                    Mark A. Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #1

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley, as Trustee

                                    MATTHEW TALLEY FAMILY TRUST #2

                                    /s/ Matthew Talley
                                    -------------------------------------------
                                    Matthew Talley, as Trustee

                                    TALLEY MANAGEMENT, INC.
                                    a Texas corporation

                                    By: /s/ J. Ernest Talley
                                       ----------------------------------------
                                    Name: J. Ernest Talley
                                         --------------------------------------
                                    Title: President
                                          -------------------------------------

                                    TALLEY PARTNERS, LTD.
                                    a Texas limited partnership

                                    By:  Talley Management, Inc.
                                         its General Partner

                                         By: /s/ J. Ernest Talley
                                            -----------------------------------
                                         Name: J. Ernest Talley
                                              ---------------------------------
                                         Title: President
                                               --------------------------------

<PAGE>   33

                                    TALLEY 1999 TRUST

                                    By: /s/ J. Ernest Talley
                                       ----------------------------------------
                                    J. Ernest Talley, as Trustee

                                    CAROLYN SPEESE 2000 GRANTOR RETAINED
                                    ANNUITY TRUST

                                    By: /s/ Mark E. Speese
                                       ----------------------------------------
                                    Mark E. Speese, as Trustee

                                    MARK SPEESE 2000 GRANTOR RETAINED
                                    ANNUITY TRUST

                                    By: /s/ Mark E. Speese
                                       ----------------------------------------
                                    Mark E. Speese, as Trustee

<PAGE>   34

                                   Exhibit "A"

                                     Legend

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES
LAWS, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION IS AVAILABLE. THE HOLDER OF THESE SHARES MAY BE REQUIRED TO DELIVER
TO THE COMPANY, IF THE COMPANY SO REQUESTS, AN OPINION OF COUNSEL (REASONABLY
SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY) TO THE EFFECT THAT AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (OR FROM REGISTRATION OR
QUALIFICATION UNDER STATE SECURITIES LAWS) IS AVAILABLE WITH RESPECT TO ANY
TRANSFER OF THESE SHARES THAT HAS NOT BEEN SO REGISTERED (OR QUALIFIED).

         THE SHARES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AND OBLIGATIONS, TO WHICH ANY TRANSFEREE
AGREES BY HIS ACCEPTANCE HEREOF, AS SET FORTH IN THE STOCKHOLDERS AGREEMENT,
DATED AS OF AUGUST 5, 1998, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. NO
TRANSFER OF SUCH SHARES WILL BE MADE ON THE BOOKS OF THE COMPANY UNLESS
ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT AND BY AN
AGREEMENT OF THE TRANSFEREE TO BE BOUND BY THE RESTRICTIONS SET FORTH IN THE
STOCKHOLDERS AGREEMENT.<PAGE>   1
                                                                   EXHIBIT 10.15

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT, dated as of July 26, 2000, is by and between STILLWATER
MINING COMPANY, a corporation duly organized and existing under the laws of the
State of Delaware (the "Company"), and Ronald W. Clayton ("Employee").

         WHEREAS, the Company desires to employ Employee and Employee desires to
be employed by the Company pursuant to the terms and conditions of this
Agreement; and

         WHEREAS, the Company has heretofore determined that it is in the best
interests of the Company and its stockholders to assure that the Company will
have the continued dedication of the Employee, notwithstanding the possibility,
threat or occurrence of a Change of Control (as defined below) of the Company;
and

         WHEREAS, the Company has determined it is imperative to diminish the
inevitable distraction of the Employee by virtue of the personal uncertainties
and risks created by a pending or threatened Change of Control, to encourage the
Employee's full attention and dedication to the Company currently and in the
event of any threatened or pending Change of Control and to provide the Employee
with compensation and benefits arrangements upon a Change of Control which
ensure that the compensation and benefits to be paid to the Employee are at
least as favorable as those in effect at the time of the Change of Control and
which are competitive with those of other corporations.

         NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein and for other good and valuable consideration, the parties
agree as follows:

                                   ARTICLE 1
                                  EMPLOYMENT

         The Company hereby employs Employee, and Employee agrees to serve as
Vice President, Nye Operations for the Company.

                                   ARTICLE 2
                                     TERM

         The term of this Agreement shall be for a period commencing on the date
above and ending December 31, 2000, unless sooner terminated as hereinafter
provided. The Agreement shall thereafter continue in effect for subsequent one
(1) year terms, commencing January 1, unless altered or terminated as
hereinafter provided; provided, however, that following a Change of Control, as
defined in Section 5.6, the Employment Term shall continue for no less than one
(1) additional year. The period of Employee's employment hereunder, including
any extension or extensions pursuant to the foregoing sentence, from the date of
commencement until the date of expiration or termination of this Agreement, is
referred to hereinafter as the "Employment Term."

<PAGE>   2

                                    ARTICLE 3
                              DUTIES AND AUTHORITY

         Employee agrees, unless otherwise specifically authorized by the
Company, to devote substantially all of his business time and effort to his
duties for the profit, benefit and advantage of the business of the Company,
except that Employee may serve on the boards of directors of other business
corporations that have no business relationship with the Company and which do
not compete with the Company. In performing his duties hereunder, Employee shall
have the authority customarily held by others holding positions similar to those
assigned to Employee in similar businesses, subject to the general and customary
supervision of the Company's Board of Directors and Chief Executive Officer.

                                   ARTICLE 4
                                  COMPENSATION

         4.1 Base Salary. The Company agrees to pay Employee a base salary of
One Hundred Fifty Thousand Dollars ($150,000) per year, payable at the usual
times for the payment of the Company's executive employees, subject to
adjustment as provided herein. Employee's base salary shall be reviewed at least
annually and may be increased, but not decreased, consistent with general salary
increases for the Company's executive employees or as appropriate in light of
the performance of Employee and the Company. Notwithstanding anything herein to
the contrary, Employee's base salary may be reduced in the event of an
across-the-board salary reduction for all executive officers; provided, however,
that the percentage reduction of Employee's base salary shall not exceed the
highest percentage reduction in base salary of any other executive officer.

         4.2 Incentive Compensation. Employee shall participate in the Company's
incentive compensation plans for executive officers of the Company, as in effect
from time to time during the Employment Term. The Company shall adopt an annual
incentive program for executive officers of the Company that will provide for a
performance based cash bonus of an amount to be determined by the Board of
Directors of the Company (the "Annual Bonus"). Until changed by the Board of
Directors of the Company, the Annual Bonus shall be set at a target of 30% of
the Employee's base salary. At the discretion of the Board of Directors all or
part on any bonus earned may be paid in Restricted Stock.

         4.3 Employee Benefits. Employee shall be eligible to receive annual
grants of stock options at the discretion of the Board of Directors. Employee
shall be eligible to participate in such other of the Company's employee benefit
plans and to receive such benefits for which his level of employment makes him
eligible, in accordance with the Company's policies as in effect from time to
time during the Employment Term; provided, however, that Employee shall be
entitled to four weeks of vacation during the initial term of this Agreement and
during the term of each extension hereof. The Employee shall be eligible to use
a Company vehicle during the term of this Agreement in accordance with Company
policy. The Company shall pay the Employee's reasonable moving expenses incurred
in conjunction with his move to Montana in accordance with Company policy.
Employee acknowledges that he has received a copy of the foregoing policies.

                                       2

<PAGE>   3

                                   ARTICLE 5
                                  TERMINATION

         5.1 Termination by the Company Without Cause; Termination by Employee
for Good Reason.

               (a) The Company shall have the right to terminate this Agreement
         without Cause (as defined below) upon thirty (30) days' notice to
         Employee. If Employee's employment hereunder is terminated by the
         Company without Cause or by Employee for "Good Reason" (as defined
         below) (other than a termination involving a Change of Control or by
         reason of death or disability), the Company shall pay Employee at the
         time of such termination in a lump sum a cash amount equal to 100
         percent of his annual base salary in effect immediately preceding such
         termination.

               (b) For purposes of this Agreement, "Good Reason" shall mean:

                    (i) A material reduction in Employee's responsibilities,
               authorities, or duties;

                    (ii) Employee's job is eliminated other than by reason of
               promotion or termination for Cause;

                    (iii) The Company fails to pay Employee any amount otherwise
               vested and due hereunder or under any plan or policy of the
               Company, which failure is not cured within five (5) business days
               of receipt by the Company of written notice from Employee which
               describes in reasonable detail the amount which is due;

                    (iv) A material reduction in Employee's base salary except
               in the event of an across-the-board salary reduction for all
               executive officers;

                    (v) A material reduction in Employee's aggregate level of
               benefits under the Company's pension, life insurance, medical,
               health and accident, disability, deferred compensation or savings
               or similar plans, except in the event of an across-the-board
               reduction in such benefits for all executive officers;

                    (vi) A material reduction in Employee's reasonable
               opportunity to earn incentive compensation under any plan in
               which Employee is a participant, except in the event of an
               across-the-board reduction in such benefits for all executive
               officers;

                    (vii) The Company and its successor(s) (as described in
               subparagraph (viii) below) shall discontinue the business of the
               Company; or

                    (viii) The failure of the Company to obtain an agreement to
               expressly assume this Agreement from any successor to the Company
               (whether such succession is direct or indirect by purchase,
               merger, consolidation or otherwise, to

                                       3

<PAGE>   4

               substantially all of the business and/or assets of the Company or
               a controlling portion of the Company's stock).

               Solely for the purposes of Section 5.6, any good faith
determination of Good Reason made by the Employee shall be conclusive.

         5.2 Termination by the Company for Cause; Voluntary Termination by
Employee.

               (a) Employee's employment hereunder may be terminated by the
         Company for "Cause." For purposes of Section 5.1, "Cause" shall mean
         (i) Employee's willful and continued failure substantially to perform
         his duties hereunder for a period of fifteen (15) days after written
         notice to Employee by the Company of each such failure; (ii) Employee's
         dishonesty in the performance of his duties hereunder; or (iii)
         Employee's conviction of a felony under the laws of the United States
         or any state thereof.

               (b) Employee shall have the right to voluntarily terminate this
         Agreement upon thirty (30) days' notice to the Company.

               (c) If Employee is terminated for Cause, or if Employee
         voluntarily terminates employment hereunder other than for Good Reason,
         he shall be entitled to receive his base salary through the date of
         termination. All other benefits, if any, payable to Employee following
         such termination of Employee's employment shall be determined in
         accordance with the plans, policies and practices of the Company.

         5.3 Notice of Termination. Any termination by the Company or by the
Employee shall be communicated by Notice of Termination to the other party
hereto given in accordance with Article 18 of this Agreement. For purposes of
this Agreement, a "Notice of Termination" means a written notice which (i)
indicates the specific termination provision in this Agreement relied upon, (ii)
to the extent applicable, sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Employee's
employment under the provision so indicated and (iii) if the Termination Date
(as defined below) is other than the date of receipt of such notice, specifies
the termination date (which date shall be not more than 30 days after the giving
of such notice). The failure by the Employee or the Company to set forth in the
Notice of Termination any fact or circumstance which contributes to a showing of
Good Reason or Cause shall not waive any right of the Employee or the Company,
respectively, hereunder or preclude the Employee or the Company, respectively,
from asserting such fact or circumstance in enforcing the Employee's or the
Company's rights hereunder.

         5.4 Termination Date. "Termination Date" means the date of receipt of
the Notice of Termination or any later date specified therein, as the case may
be.

         5.5 Termination by Death or Disability. Upon termination of Employee's
employment due to death of Employee, Employee shall be entitled to his base
salary at the rate in effect at the time of Employee's death through the end of
the month in which his death occurs. Employee's employment hereunder may be
terminated by the Company if Employee becomes physically or mentally
incapacitated and is therefore unable for a period of one hundred eighty (180)
consecutive days to perform his duties (such incapacity is hereinafter referred
to as "Disability"). Upon any such termination for Disability, Employee shall be
entitled to receive

                                       4

<PAGE>   5

payment of disability benefits in lieu of salary under the Company's Employee
benefit plans as then in effect.

         5.6 Termination Following a Change of Control; Benefits.

               (a) In the event there is a Termination Following a Change of
         Control, this Agreement shall terminate and Employee shall be entitled
         to the following severance benefits:

                    (i) 150 percent of Employee's annual base salary at the rate
               in effect immediately prior to the Change of Control or on the
               Termination Date, whichever is higher, payable in a lump sum
               within thirty (30) days after the Termination Date;

                    (ii) 150 percent of the Employee's target bonus in effect
               immediately prior to the Change of Control (or on the Termination
               Date, whichever is higher).

                    (iii) The Company shall timely pay or provide to Employee
               any other amounts or benefits required to be paid or provided or
               which Employee is eligible to receive under any plan, program,
               policy, practice, contract or agreement of the Company (other
               than customary severance pay, office facilities and equity
               incentive program participation) to the same extent that Employee
               would be eligible therefor if he were employed on a full-time
               basis by the Company in the capacity provided for herein for a
               period of 18 months after the Termination Date, including
               receiving the full benefit of 18 months of employment at the
               income levels provided for herein for purposes of any retirement
               plan utilizing years of service as a criteria in the provision of
               benefits (such other amounts and benefits shall be hereinafter
               referred to as the "Other Benefits"); provided, however, that (i)
               for the purposes of the Company's equity incentive programs,
               Employee's employment shall be deemed terminated as of the
               Termination Date hereunder; and (ii) to the extent Employee,
               following the Termination Date, becomes employed by another
               employer and becomes entitled to receive health insurance
               benefits from such employer, the Company's obligation to provide
               such health insurance benefits hereunder shall be decreased;

                    (iv) All accrued compensation (including base salary and
               Highest Annual Bonus, each prorated through the Termination Date)
               and unreimbursed expenses through the Termination Date. Such
               amounts shall be paid to Employee in a lump sum in cash within
               thirty (30) days after the Termination Date.

                    (v) The Employee shall be free to accept other employment
               following such Termination, and, except as provided herein, there
               shall be no offset of any employment compensation earned by the
               Employee in such other employment during such period against
               payments due Employee hereunder, and there shall be no offset in
               any compensation received from such other employment against the
               continued salary set forth above.

               (b) The following terms shall have the meanings set forth below:

                                       5

<PAGE>   6

                    (i) A "Change in Control" of the Company shall mean and
               shall be deemed to have occurred if any of the following events
               shall have occurred:

                         (a) Any person (as defined in Sections 13(d) and 14(d)
                    of the Securities Exchange Act of 1934, as amended (the
                    "Exchange Act")) is or becomes the beneficial owner (as
                    defined in Rule 13d-3 of the Exchange Act), directly or
                    indirectly, of securities of the Company (not including in
                    the securities beneficially owned by such person any
                    securities acquired directly from the Company or its
                    affiliates) representing 30% or more of the combined voting
                    power of the Company's then outstanding securities,
                    excluding any person who becomes such a beneficial owner in
                    connection with a transaction described in clause (i) of
                    paragraph (c) below; or

                         (b) the following individuals cease for any reason to
                    constitute a majority of the number of directors then
                    serving: Individuals who, on the date hereof, constitute the
                    Board and any new director (other than a director whose
                    initial assumption of office is in connection with an actual
                    or threatened election contest, including but not limited to
                    a consent solicitation, relating to the election of
                    directors of the Company) whose appointment or election by
                    the Board or nomination for election by the Company's
                    stockholders was approved or recommended by a vote of at
                    least two-thirds (2/3) of the directors then still in office
                    who either were directors on the date hereof or whose
                    appointment, election or nomination for election was
                    previously so approved or recommended; or

                         (c) there is consummated a merger or consolidation of
                    the Company or any direct or indirect subsidiary of the
                    Company with any other corporation, other than (i) a merger
                    or consolidation which would result in the voting securities
                    of the Company outstanding immediately prior to such merger
                    or consolidation continuing to represent (either by
                    remaining outstanding or by being converted into voting
                    securities of the surviving entity or any parent thereof) at
                    least 55% of the combined voting power of the securities of
                    the Company or such surviving entity or any parent thereof
                    outstanding immediately after such merger or consolidation,
                    or (ii) a merger or consolidation effected to implement a
                    recapitalization of the Company (or similar transaction) in
                    which no person is or becomes the beneficial owner, directly
                    or indirectly, of securities of the Company (not including
                    in the securities beneficially owned by such person any
                    securities acquired directly from the Company or its
                    affiliates) representing 30% or more of the combined voting
                    power of the Company's then outstanding securities; or

                         (d) the stockholders of the Company approve a plan of
                    complete liquidation or dissolution of the Company or there
                    is consummated an agreement for the sale or disposition by
                    the Company of all or substantially all of the Company's
                    assets, other than a sale or disposition by the Company of
                    all or substantially all of the Company's assets to an

                                       6

<PAGE>   7

                    entity, at least 60% of the combined voting power of the
                    voting securities of which are owned by stockholders of the
                    Company in substantially the same proportions as their
                    ownership of the Company immediately prior to such sale.

               Notwithstanding the foregoing, a "Change in Control" shall not be
deemed to have occurred by virtue of the consummation of any transaction or
series of integrated transactions immediately following which the record holders
of the common stock of the Company immediately prior to such transaction or
series of transactions continue to have substantially the same proportionate
ownership in an entity which owns all or substantially all of the assets of the
Company immediately following such transaction or series of transactions.

                    (ii) "Termination Following a Change of Control" shall mean
               a Termination of the Employee without Cause by the Company in
               connection with or within two years following a Change of Control
               or a termination by the Employee for Good Reason of the
               Employee's employment with the Company within two years following
               a Change of Control.

                    (iii) For the purposes of this Section 5.6 only, "Cause"
               shall mean:

                         (a) Misfeasance or nonfeasance by the Employee in the
                    performance of his duties under this Agreement intended to
                    injure the Company which has a material adverse effect on
                    the Company's business or operations, if such failure is not
                    remedied or reasonable steps to effect such remedy are not
                    commenced within thirty (30) days after written notice of
                    such violation; or

                         (b) Employee's conviction of a felony or any crime
                    involving moral turpitude.

         5.7 Certain Additional Provisions. Anything in this Agreement to the
contrary notwithstanding, any payment or distribution by the Company to or for
the benefit of the Employee (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise) (a
"Payment") shall be limited to the maximum amount that can be payable without
such Payment being subject to the excise tax imposed by Section 4999 of the Code
on Employee. The Company agrees to comply, to the extent feasible, with the
Employee's preferences concerning the components of any Payment required to be
limited under the previous sentence.

                                   ARTICLE 6
                                   INSURANCE

         Employee agrees that the Company may, from time to time, apply for and
take out in its own name and at its own expense, life, health, accident, or
other insurance upon Employee that the Company may deem necessary or advisable
to protect its interests hereunder; and Employee agrees to submit to any medical
or other examination necessary for such purposes and to assist and cooperate
with the Company in preparing such insurance; and Employee agrees that he shall
have no right, title, or interest in or to such insurance.

                                       7

<PAGE>   8

                                   ARTICLE 7
                             FACILITIES AND EXPENSES

         The Company shall make available to Employee such office space,
secretarial services, office equipment and furnishings as are suitable and
appropriate to Employee's title and duties. The Company shall promptly reimburse
Employee for all reasonable expenses incurred in the performance of his duties
hereunder, including without limitation, expenses for entertainment, travel,
management seminars and use of the telephone, subject to the Company's
reasonable requirements with respect to the reporting and documentation of such
expenses.

                                   ARTICLE 8
                                 NONCOMPETITION

         8.1 Necessity of Covenant. The Company and Employee acknowledge that:

               (a) The Company's business is highly competitive;

               (b) The Company maintains confidential information and trade
         secrets as described in Article 9, all of which are zealously protected
         and kept secret by the Company;

               (c) In the course of his employment, Employee will acquire
         certain of the information described in Article 9 and the Company would
         be adversely affected if such information subsequently, and in the
         event of the termination of Employee's employment, is used for the
         purposes of competing with the Company;

               (d) The Company transacts business throughout the world; and

               (e) For these reasons, both the Company and Employee further
         acknowledge and agree that the restrictions contained herein are
         reasonable and necessary for the protection of their respective
         legitimate interests and that any violation of these restrictions would
         cause substantial injury to the Company.

         8.2 Covenant Not to Compete. Employee agrees that from and after the
date hereof during the Employment Term and for a period of one (1) year after
the end of the Employment Term, he will not, without the express written
permission of the Company, which may be given or withheld in the Company's sole
discretion, directly or indirectly own, manage, operate, control, lend money to,
endorse the obligations of, or participate or be connected as an officer,
director, 5% or more stockholder of a publicly-held company, stockholder of a
closely-held company, employee, partner, or otherwise, with any enterprise or
individual engaged in a business which is competitive with the Platinum Group
Metals business conducted by the Company. It is understood and acknowledged by
both parties that, inasmuch as the Company transacts business worldwide, this
covenant not to compete shall be enforced throughout the United States and in
any other country in which the Company is doing business as of the date of
Employee's termination of employment.

         8.3 Disclosure of Outside Activities. Employee, during the term of his
employment by the Company, shall at all times keep the Company informed of any
outside business activity

                                       8

<PAGE>   9

and employment, and shall not engage in any outside business activity or
employment which may be in conflict with the Company's interests.

         8.4 Survival. The terms of this Article 8 shall survive the expiration
or termination of this Agreement for any reason.

                                   ARTICLE 9
                   CONFIDENTIAL INFORMATION AND TRADE SECRETS

         9.1 Nondisclosure of Confidential Information. Employee has acquired
and will acquire certain "Confidential Information" of the Company.
"Confidential Information" shall mean any information that is not generally
known, including trade secrets, outside the Company and that is proprietary to
the Company, relating to any phase of the Company's existing or reasonably
foreseeable business which is disclosed to Employee by the Company including
information conceived, discovered or developed by Employee. Confidential
Information includes, but shall not be limited to, business plans, financial
statements and projections, operating forms (including contracts) and
procedures, payroll and personnel records, marketing materials and plans,
proposals, software codes and computer programs, project lists, project files,
price information and cost information and any other document or information
that is designated by the Company as "Confidential." The term "trade secret"
shall be defined as follows:

               A trade secret may consist of any formula, pattern, device or
               compilation of information which is used in one's business, and
               which provides to the holder an opportunity to obtain an
               advantage over competitors who do not know or use it.

Accordingly, employee agrees that he shall not, during the Employment Term and
for three (3) years thereafter, use for his own benefit such Confidential
Information or trade secrets acquired during the term of his employment by the
Company. Further, during the Employment Term and for three (3) years thereafter,
Employee shall not, without the written consent of the Board of Directors of the
Company or a person duly authorized thereby, which consent may be given or
withheld in the Company's sole discretion, disclose to any person, other than an
employee of the Company or a person to whom disclosure is reasonably necessary
or appropriate in connection with the performance by Employee of his duties, any
Confidential Information or trade secrets obtained by him while in the employ of
the Company.

         9.2 Return of Confidential Information. Upon termination of employment,
Employee agrees to deliver to the Company all materials that include
Confidential Information or trade secrets, and all other materials of a
confidential nature which belong to or relate to the business of the Company.

         9.3 Exceptions. The restrictions and obligations in Section 9.1 shall
not apply with respect to any Confidential Information which: (i) is or becomes
generally available to the public through any means other than a breach by
Employee of his obligations under this Agreement; (ii) is disclosed to Employee
without obligation of confidentiality by a third party who has the right to make
such disclosure; (iii) is developed independently by Employee without use of or
benefit from the Confidential Information; (iv) was in possession of Employee
without obligations of

                                       9

<PAGE>   10

confidentiality prior to receipt under this Agreement; or (v) is required to be
disclosed to enforce rights under this Agreement.

     9.4 Survival. The terms of this Article 9 shall survive the expiration or
termination of this Agreement for any reason.

                                   ARTICLE 10
                              JUDICIAL CONSTRUCTION

         Employee believes and acknowledges that the provisions contained in
this Agreement, including the covenants contained in Articles 8 and 9 of this
Agreement, are fair and reasonable. Nonetheless, it is agreed that if a court
finds any of these provisions to be invalid in whole or in part under the laws
of any state, such finding shall not invalidate the covenants, nor the Agreement
in its entirety, but rather the covenants shall be construed and/or blue-lined,
reformed or rewritten by the court as if the most restrictive covenants
permissible under applicable law were contained herein.

                                   ARTICLE 11
                           RIGHT TO INJUNCTIVE RELIEF

         Employee acknowledges that a breach by Employee of any of the terms of
Articles 8 or 9 of this Agreement will render irreparable harm to the Company,
and that in the event of such breach the Company shall therefore be entitled to
any and all equitable relief, including, but not limited to, injunctive relief,
and to any other remedy that may be available under any applicable law or
agreement between the parties.

                                   ARTICLE 12
                         CESSATION OF CORPORATE BUSINESS

         This Agreement shall cease and terminate if the Company shall
discontinue its business, and all rights and liabilities hereunder shall cease,
except as provided in Section 5.6 and Article 13.

                                   ARTICLE 13
                                   ASSIGNMENT

     13.1 Permitted Assignment. Subject to the provisions of Section 5.6, the
Company shall have the right to assign this contract to its successors or
assigns, and all covenants or agreements hereunder shall inure to the benefit of
and be enforceable by or against its successors or assigns.

     13.2 Successors and Assigns. The terms "successors" and "assigns" shall
mean any person or entity which buys all or substantially all of the Company's
assets, or a controlling portion of its stock, or with which it merges or
consolidates.

                                       10

<PAGE>   11

                                   ARTICLE 14
                    FAILURE TO DEMAND, PERFORMANCE AND WAIVER

         The failure by either party to demand strict performance and compliance
with any part of this Agreement during the Employment Term shall not be deemed
to be a waiver of the rights of such party under this Agreement or by operation
of law. Any waiver by either party of a breach of any provision of this
Agreement shall not operate as or be construed as a waiver of any subsequent
breach thereof.

                                   ARTICLE 15
                                ENTIRE AGREEMENT

         The Company and Employee acknowledge that this Agreement contains the
full and complete agreement between and among the parties, that there are no
oral or implied agreements or other modifications not specifically set forth
herein, and that this Agreement supersedes any prior agreements or
understandings, if any, between the Company and Employee, whether written or
oral. The parties further agree that no modifications of this Agreement may be
made except by means of a written agreement or memorandum signed by the parties.

                                   ARTICLE 16
                                  GOVERNING LAW

         The parties hereby agree that this Agreement shall be construed in
accordance with the laws of the State of Colorado, without giving effect to any
choice of law or conflict of law provision or rule (whether of the State of
Colorado or any other jurisdiction) that would cause the application of the laws
of any jurisdiction other than the State of Colorado.

                                   ARTICLE 17
                                 ATTORNEYS' FEES

         If either party shall commence any action or proceeding against the
other that arises out of the provisions hereof, or to recover damages as the
result of the alleged breach of any of the provisions hereof, the prevailing
party therein shall be entitled to recover all reasonable costs incurred in
connection therewith, including reasonable attorneys' fees.

                                   ARTICLE 18
                                     NOTICE

         All notices and other communications hereunder shall be in writing and
shall be given by hand delivery to the other party or by registered or certified
mail, return receipt requested, postage prepaid, addressed as follows:

If to the Employee:
Ronald W. Clayton
PO Box 322, 33 Henery Street
Absarokee, MT 59001

                                       11

<PAGE>   12

----------

If to the Company:
Vice President, Human Resources
Stillwater Mining Company
536 East Pike Ave.
PO Box 1330
Columbus, MT 59019

                                   ARTICLE 19
                                  COUNTERPARTS

         This Agreement may be executed in counterparts, each of which shall be
deemed an original and all of which together shall constitute one instrument.

                                       12

<PAGE>   13

         IN WITNESS WHEREOF, the Company has hereunto signed its name and
Employee hereunder has signed his name, all as of the day and year first-above
written.

                                       STILLWATER MINING COMPANY

                                       By: /s/ William E. Nettles
                                           --------------------------
                                       Name: William E. Nettles
                                       Title: Chief Executive Officer

                                       EMPLOYEE

                                       /s/ Ronald W. Clayton
                                       ------------------------------
                                       Ronald W. Clayton

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]