Document:

exv10w1

 

Exhibit 10.1

INCENTIVE BONUS AGREEMENT

     This Incentive Bonus Agreement (this “Agreement”) is made as of February 20, 2007 by and
between Wild Oats Markets, Inc., a Delaware corporation (the “Company”), and Gregory Mays
(“Executive”).

     WHEREAS, Executive currently serves as interim Chief Executive Office (“CEO”) of the Company.

     WHEREAS, the Company proposes to enter into an Agreement and Plan of Merger with the
corporation named on Schedule I hereto and such corporation’s wholly-owned subsidiary (“Merger
Sub”) pursuant to which the Company is to be merged with Merger Sub and as a result of such merger
the shares of the Company’s common stock are to be converted into the right to receive an amount of
cash set forth in such Agreement and Plan of Merger, as it may be amended from time to time (such
merger transaction and any other business combination to which the Company is a constituent party
and pursuant to which the shares of common stock of the Company are to be converted into the right
to receive cash, other property or the securities of another entity, or any sale of all or
substantially all of the Company’s assets are referred to herein as a “Company Sale Event”); and

     WHEREAS, the Company wishes to provide a sale bonus to Executive and additional incentives for
Executive to remain an employee of the Company through the effective date of the consummation of a
Company Sale Event (the “Effective Date”) and thereafter should no Company Sale Event be
consummated;

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and Executive agree as
follows:

     1. Interim CEO Compensation. Executive shall be entitled to an increase in his future
compensation as interim CEO to be at a rate of $100,000 per month, commencing February 1, 2007, in
addition to reimbursement of reasonable out-of-pocket expenses incurred in the performance of his
duties as interim CEO, including reasonable travel and housing expenses in accordance with the
Company’s reimbursement policies as in effect from time to time.

     2. Sale Bonus. The Company shall pay to Executive a sale bonus of $750,000, less
applicable withholding (the “Sale Bonus”), payable at the close of a Company Sale Event.

     3. Grant of RSUs. On or about October 26, 2006, the Company agreed to grant Executive
20,000 fully vested restricted stock units (“RSUs”) at a future date (the “Initial RSUs”) and that,
at such time as a new CEO were appointed, the Board of Directors of the Company, at its discretion,
contemplated granting to Executive an additional 10,000 fully vested RSUs to Executive (the
"Additional RSUs”). The Company hereby grants the Initial RSUs to Executive, which RSUs are fully
vested. The Company hereby further grants the Additional RSUs to Executive which RSUs shall vest
on the earlier to occur of (i) the consummation of a Company Sale Event or (ii) the appointment of
a New CEO (as defined below) in the latter case following termination of the Agreement and Plan of
Merger, subject in each case to the provisions of Section 5 hereof. In addition, in order to
induce Executive to stay with the Company as interim CEO and assist in the recruitment and hiring
of a New CEO in the event the Agreement and Plan of Merger is terminated and the merger
contemplated therein is not consummated (a “Merger Termination”), the Company hereby agrees to
grant to Executive an additional 15,000 fully vested RSUs (the “Contingent RSUs”) in the event the
Merger Termination has occurred and no other Company Sale Event has then been consummated, which
grant shall occur upon the earlier of the hiring of a New CEO or December 31, 2007, subject in each
case to the provisions of Section 5 hereof. In the event the Contingent RSUs are granted and a
Company Sale Event is thereafter consummated on or prior to February 21, 2008, the grant value of
the Contingent RSUs (calculated by the product of (x) 15,000 and (y) the closing market price of
the

 

 

Company’s common stock on the date the Contingent RSUs are granted) shall reduce the amount of
any Sale Bonus which subsequently becomes payable hereunder.

     4. Exclusive Bonus. Other than with respect to payment of merger consideration for
shares of Common Stock, if any, held by Executive, and the Initial RSUs and the Additional RSUs,
payment of the Sale Bonus shall be in lieu of any other bonus or other consideration payable by the
Company to Executive arising from or related to the Company Sale Event, including any
change-in-control payment whether payable solely as a result of a Company Sale Event or similar
transaction or termination of Executive’s employment or diminution of Executive’s responsibilities
in connection with or within a specified period following consummation of a Company Sale Event or
similar transaction.

     5. Expiration. Executive’s right to a Sale Bonus shall terminate if a Company Sale
Event is not consummated on or prior to February 21, 2008. In addition to the foregoing,
Executive shall cease to be entitled to receive the Sale Bonus or the Contingent RSUs, or the
vesting of the Additional RSUs, immediately upon Executive’s voluntary separation from employment
with the Company, or upon the Company’s termination of Executive’s employment for “cause”, at any
time prior to (in the case of the Sale Bonus) the consummation of the Company Sale Event or (in the
case of the Additional RSUs or the Contingent RSUs), the date such RSUs vest or are granted in
accordance herewith. As used herein, termination of employment “for cause” shall mean termination
because of any material act involving Executive’s personal dishonesty, willful misconduct, breach
of fiduciary duty involving personal profit, failure to carry out his material duties or lawful
directives and policies of the Company’s Board of Directors or any committee thereof, or commission
of a felony. In addition, in the event of Executive’s death or termination of employment due to
permanent disability before the granting of the Contingent RSUs or vesting of the Additional RSUs,
as the case may be, the Contingent RSUs shall lapse and the Additional RSUs shall only vest upon
the consummation of a Company Sale Event on or prior to February 21, 2008. The term “appointment
of a New CEO” or similar words shall mean the hiring of and commencement of employment by a new
“permanent” chief executive officer of the Company other than Executive and other than an executive
designated as an interim CEO.

     6. Continued Employment. Nothing in this Agreement shall confer upon Executive the
right to continue employment with the Company for any period of specific duration or interfere with
or otherwise restrict in any way the rights of the Company or of Executive, which rights are hereby
expressly reserved by each, to terminate Executive’s employment at any time for any reason, with or
without cause.

     7. Counterparts. This Agreement may be executed in counterparts, each of which will
constitute an original and all of which, when taken together, will constitute one agreement.

     8. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without regard to any choice or conflict of laws provisions.

     9. Effectiveness. This Agreement shall become effective upon and subject to the
execution and delivery of the Agreement and Plan of Merger by all parties thereto on or prior to
February ___, 2007, absent which it shall be null and of no force or effect ab
initio.

     IN WITNESS HEREOF, each of the parties, with the undersigned Chairman of the Compensation
Committee of the Company’s Board of Directors doing so by authority duly given, have executed this
Agreement effective as of the date first set forth above.

 

 

	 	 	 	 	 
	 	 	 
	 	                     /s/ Gregory Mays
 	 
	 	Gregory Mays 	 
	 	 	 
	 

	 	 	 	 	 
	 	WILD OATS MARKETS, INC.

 	 
	 	By:  	/s/ David Gallitano
 	 
	 	 	Dave Gallitano 	 
	 	 	Chairman, Compensation Committee

of the Board of Directorsexv10w36

 

EXHIBIT
10.36

January 25, 2006

Mr. Daniel R. Feehan

3551 Dorothy Ln. S

Fort Worth, TX 76107

			
	Re:	 	Extension of Amended and Restated Executive Employment
Agreement dated as of January 21, 2004
between Cash America International, Inc. and Daniel R. Feehan (“Employment Agreement’)

Dear Mr. Feehan:

     I am pleased to notify you that the Management Development and Compensation Committee (the
“Committee”) of the Cash America International, Inc. Board of Directors has elected to extend your
Employment Agreement for an additional one-year renewal term commencing May 1, 2006 and ending
April 30, 2007. The current term of your Employment Agreement expires April 30, 2006.

     We are providing you this notice in accordance with Section 5.2 of your Employment Agreement.
Under that Section, this committee may extend the term of your Employment Agreement for additional
successive one-year terms by notifying you in writing, at least 60 days prior to the expiration of
the then-current term, of its intention to extend the Employment Agreement.

Yours truly,

/s/ B. D. Hunter

B. D. Hunter, Chairman

Management Development and

Compensation Committee of the

Cash America International, Inc.

Board of Directorsexv10w37

 

EXHIBIT 10.37

CASH AMERICA INTERNATIONAL, INC.

SUPPLEMENT NO. 9 TO NOTE AGREEMENT

As of December 31, 2006

To the Persons Named on

Annex 1 Hereto

Ladies and Gentlemen:

     Cash America International, Inc., a Texas corporation (hereinafter, the “Company”), together
with its successors and assigns, agrees with you as follows:

1. PRELIMINARY STATEMENTS.

     1.1. Note Issuance, etc.

     The Company issued and sold $20,000,000 in aggregate principal amount of its 8.14% Senior
Notes due July 7, 2007 (as they may be amended, restated or otherwise modified from time to time,
the “Senior Notes”) pursuant to that certain Note Agreement, dated as of July 7, 1995 (as amended
by each of (i) that certain First Supplement to 1995 Note Agreement, dated as of November 10, 1995,
(ii) that certain Second Supplement to 1995 Note Agreement, dated as of December 30, 1996, (iii)
that certain Third Supplement to 1995 Note Agreement, dated as of December 30, 1997, (iv) that
certain Fourth Supplement to 1995 Note Agreement, dated as of December 31, 1998, (v) that certain
Fifth Supplement to 1995 Note Agreement, dated as of September 29, 1999, (vi) that certain Sixth
Supplement to 1995 Note Agreement, dated as of June 30, 2000, (vii) that certain Seventh Supplement
to 1995 Note Agreement, dated as of September 30, 2001, and (viii) that certain Supplement No. 8 to
Note Agreement, dated as of September 7, 2004, and as in effect immediately prior to giving effect
to the Amendments (as defined below) provided for hereby, the “Existing Note Agreement”, and as
amended hereby, the “Note Agreement”). The register for the registration and transfer of the
Senior Notes indicates that the parties named in Annex 1 (the “Current Holders”) to this Supplement
No. 9 to Note Agreement (this “Amendment Agreement”) are currently the holders of the entire
outstanding principal amount of the Senior Notes.

2. DEFINED TERMS.

     Capitalized terms used herein and not otherwise defined herein have the meanings ascribed to
them in the Note Agreement.

3. AMENDMENTS TO THE EXISTING NOTE AGREEMENT.

     Subject to Section 5, the Existing Note Agreement is amended as provided for by this Amendment
Agreement as follows:

     3.1. Section 2.01; Definitions. Section 2.01 of the Existing Note Agreement shall
be and is hereby amended by inserting into such Section, in its proper alphabetical order, the
following definition:

 

 

     ““Check Giant Earnout Liabilities” means current liabilities arising from the obligations of
the Company to pay the former holders of equity interests in the business operated by The Check
Giant LLC to the extent and only to the extent (i) such liabilities constitute a portion of the
consideration to be paid as earnout payments for the acquisition of such business, as more
particularly described in the January 22, 2007 memorandum from Austin Nettle to the holders of the
Notes, and (ii) the Company has unused lines of credit available to it that are equal to or greater
than such earnout payments at any date of calculation pursuant to Section 9.03.”

     3.2. Section 9.03; Current Assets to Current Liabilities Ratio. Section 9.03 of the
Existing Note Agreement shall be and is hereby amended and replaced in its entirety to read as
follows:

     “Section 9.03 Current Assets to Current Liabilities Ratio.

     The Company will not permit the ratio of (a) Consolidated Current Assets to (b)
Consolidated Current Liabilities (other than Check Giant Earnout Liabilities) to be less
than 3.5 to 1 as of the last day of any Fiscal Quarter ending on or after the Closing Date.”

Such amendments are referred to herein, collectively, as the “Amendments.”

4. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

     To induce you to enter into this Amendment Agreement and to consent to the Amendments, the
Company represents and warrants to you as follows:

     4.1. Full Disclosure.

     Neither the financial statements and other certificates previously provided to each of the
Current Holders pursuant to the provisions of the Existing Note Agreement nor the statements made
in this Amendment Agreement nor any other written statements furnished to each of the Current
Holders by or on behalf of the Company in connection with the proposal and negotiation of the
transactions contemplated hereby (including, without limitation, the January 22, 2007 memorandum
from Austin Nettle to the holders of the Senior Notes in the form attached hereto as Exhibit
B describing the Check Giant Earnout Liabilities), taken as a whole, contained any untrue
statement of a material fact or omitted a material fact necessary to make the statements contained
therein and herein not misleading, in each case as of the time such financial statements or
certificates were provided or such statements were made or furnished. There is no fact known to
the Company relating to any event or circumstance that has occurred or arisen since the Closing
Date that the Company has not disclosed to each of the Current Holders in writing that has had or,
so far as the Company can now reasonably foresee, could reasonably be expected to have, a Material
Adverse Effect.

     4.2. Power and Authority.

     The Company has all requisite corporate power and authority to enter into and perform its
obligations under this Amendment Agreement.

2

 

     4.3. Due Authorization.

     This Amendment Agreement has been duly authorized by all necessary action on the part of the
Company, has been executed and delivered by a duly authorized officer of the Company, and
constitutes a legal, valid and binding obligation of the Company, enforceable in accordance with
its terms, except that enforceability may be limited by applicable bankruptcy, reorganization,
arrangement, insolvency, moratorium, or other similar laws affecting the enforceability of
creditors’ rights generally and subject to the availability of equitable remedies.

     4.4. No Defaults.

     No event has occurred and no condition exists that, upon the execution and delivery of this
Amendment Agreement, would constitute a Default or an Event of Default.

5. EFFECTIVENESS OF AMENDMENTS.

     The Amendments shall become effective as of the first date written above (the “Effective
Date”) upon the satisfaction of all of the following conditions precedent:

     5.1. Execution and Delivery of this Amendment Agreement.

     The Company and each of the Current Holders shall have executed and delivered this Amendment
Agreement.

     5.2. Guarantors.

     Each Guarantor which delivered a Joint and Several Guaranty shall have executed and delivered
to you the Consent and Reaffirmation attached hereto as Exhibit A.

     5.3. Fees and Expenses.

     Whether or not the Amendments become effective, the Company will promptly (and in any event
within thirty Business Days of receiving any statement or invoice therefor) pay all reasonable
fees, expenses and costs relating to this Amendment Agreement, including, but not limited to, the
reasonable fees of your special counsel, Bingham McCutchen LLP, incurred in connection with the
preparation, negotiation and delivery of this Amendment Agreement and any other documents related
hereto. Nothing in this Section shall limit the Company’s obligations pursuant to Section 11.02 of
the Note Agreement.

6. MISCELLANEOUS.

     6.1. Part of Existing Note Agreement; Future References, etc.

     This Amendment Agreement shall be construed in connection with and as a part of the Existing
Note Agreement and, except as expressly amended by this Amendment Agreement, all terms, conditions
and covenants contained in the Existing Note Agreement are hereby ratified and shall be and remain
in full force and effect. Any and all notices, requests, certificates and other instruments
executed and delivered after the execution and delivery of this Amendment

3

 

Agreement may refer to the Existing Note Agreement without making specific reference to this
Amendment Agreement, but nevertheless all such references shall include this Amendment Agreement
unless the context otherwise requires.

     6.2. Counterparts.

     This Amendment Agreement may be executed in any number of counterparts, each of which shall be
an original but all of which together shall constitute one instrument. Each counterpart may
consist of a number of copies hereof, each signed by less than all, but together signed by all, of
the parties hereto.

     6.3. Governing Law.

     THIS AMENDMENT AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF
THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW
PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A
JURISDICTION OTHER THAN NEW YORK.

[Remainder of page intentionally left blank; next page is signature page.]

4

 

     If you are in agreement with the foregoing, please so indicate by signing the acceptance below
on the accompanying counterpart of this agreement and returning it to the Company, whereupon it
will become a binding agreement among you and the Company.

	 	 	 	 	 
	 	 	CASH AMERICA INTERNATIONAL, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Austin D. Nettle
	 

	 	 	 	 
	 	 	Name: Austin D. Nettle
	 	 	Title: Vice President and Treasurer

     The foregoing Amendment Agreement is hereby accepted as of the date first above written. By
its execution below, the undersigned represents that it is either the registered owner of one or
more of the Senior Notes or is the beneficial owner of one or more of the Senior Notes and is
authorized to enter into this Amendment Agreement in respect thereof.

TEACHERS INSURANCE AND ANNUITY

ASSOCIATION OF AMERICA

	 	 	 	 	 
	By:

	 	/s/ Sharon Manewitz
 

	 	 
	Name: Sharon Manewitz	 	 
	Title: Managing Director, Special Situations	 	 

[Signature Page to Supplement No. 9 to 1995 Note Agreement]

 

 

Annex 1

CURRENT HOLDERS

Teachers Insurance and Annuity Association of America

 

 

Exhibit A

CONSENT AND REAFFIRMATION

     Each of the undersigned (the “Guarantors”) hereby (i) acknowledges receipt of a copy of the
foregoing Supplement No. 9 to Note Agreement (the “Ninth Amendment”); (ii) consents to the
Company’s execution and delivery thereof; (iii) agrees to be bound thereby; (iv) affirms that
nothing contained therein shall modify in any respect whatsoever its guaranty of the obligations of
the Company to the holders of the Senior Notes pursuant to the terms of those certain Joint and
Several Guaranties, entered into by the Guarantors pursuant to the terms of the Note Agreement
(collectively, the “Guaranty”); and (v) reaffirms that the Guaranty is and shall continue to remain
in full force and effect. Although each of the Guarantors has been informed of the matters set
forth herein and in the Ninth Amendment and has acknowledged and agreed to the same, such
Guarantors understand that the holders of the Senior Notes have no obligation to inform any of the
Guarantors of such matters in the future or to seek any of the Guarantors’ acknowledgment or
agreement to future amendments or waivers, and nothing herein shall create such a duty.
Capitalized terms used in this Consent and Reaffirmation and not otherwise defined herein have the
meanings ascribed to them in the Ninth Amendment.

 

 

     In witness whereof, each of the undersigned has executed this Consent and Reaffirmation
on and as of the date of such Ninth Amendment.

GUARANTORS

CASH AMERICA NET HOLDINGS, LLC

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Austin D. Nettle
 

	 	 
	 	 	Name: Austin D. Nettle	 	 
	 	 	Title: Vice President and Treasurer	 	 

CASH AMERICA, INC. OF COLORADO

	 	 	 	 	 	 	 
	 

	 	By
	 	/s/ David J. Clay
 

	 	 
	 	 	Name: David J. Clay	 	 
	 	 	Title: Vice President, Secretary and Treasurer	 	 

BRONCO PAWN & GUN, INC.

CASH AMERICA ADVANCE, INC.

CASH AMERICA FINANCIAL SERVICES, INC.

CASH AMERICA FRANCHISING, INC.

CASH AMERICA HOLDING, INC.

CASH AMERICA, INC.

CASH AMERICA, INC. OF ALABAMA

CASH AMERICA, INC. OF ALASKA

CASH AMERICA, INC. OF ILLINOIS

CASH AMERICA, INC. OF INDIANA

CASH AMERICA, INC. OF KENTUCKY

CASH AMERICA, INC. OF LOUISIANA

CASH AMERICA, INC. OF NEVADA

CASH AMERICA, INC. OF NORTH CAROLINA

CASH AMERICA, INC. OF OKLAHOMA

CASH AMERICA, INC. OF SOUTH CAROLINA

CASH AMERICA, INC. OF TENNESSEE

CASH AMERICA, INC. OF UTAH

CASH AMERICA, INC. OF VIRGINIA

CASH AMERICA MANAGEMENT L.P.,

by its general partner, CASH AMERICA HOLDING, INC.

CASH AMERICA OF MISSOURI, INC.

CASH AMERICA PAWN L.P.,

by its general partner, CASH AMERICA HOLDING, INC.

CASH AMERICA PAWN, INC. OF OHIO

[Signature Page to Guarantor Consent and Reaffirmation — Supplement No. 9 to 1995 Note Agreement]

 

 

CASHLAND FINANCIAL SERVICES, INC.

DOC HOLLIDAY’S PAWNBROKERS & JEWELLERS, INC.

EXPRESS CASH INTERNATIONAL CORPORATION

FLORIDA CASH AMERICA, INC.

GEORGIA CASH AMERICA, INC.

GAMECOCK PAWN & GUN, INC.

HORNET PAWN & GUN, INC.

LONGHORN PAWN AND GUN, INC.

MR. PAYROLL CORPORATION

RATI HOLDING, INC.

TIGER PAWN & GUN, INC.

UPTOWN CITY PAWNERS, INC.

VINCENT’S JEWELERS AND LOAN, INC.

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Austin D. Nettle
 

	 	 
	 	 	Name: Austin D. Nettle	 	 
	 	 	Title: Vice President and Treasurer	 	 

CASH AMERICA NET OF ALABAMA, LLC

CASH AMERICA NET OF ALASKA, LLC

CASH AMERICA NET OF ARIZONA, LLC

CASH AMERICA NET OF CALIFORNIA, LLC

CASH AMERICA NET OF COLORADO, LLC

CASH AMERICA NET OF DELAWARE, LLC

CASH AMERICA NET OF FLORIDA, LLC

CASH AMERICA NET OF HAWAII, LLC

CASH AMERICA NET OF IDAHO, LLC

CASH AMERICA NET OF ILLINOIS, LLC

CASH AMERICA NET OF INDIANA, LLC

CASH AMERICA NET OF IOWA, LLC

CASH AMERICA NET OF KANSAS, LLC

CASH AMERICA NET OF LOUISIANA, LLC

CASH AMERICA NET OF MICHIGAN, LLC

CASH AMERICA NET OF MINNESOTA, LLC

CASH AMERICA NET OF MISSOURI, LLC

CASH AMERICA NET OF MONTANA, LLC

CASH AMERICA NET OF NEBRASKA, LLC

CASH AMERICA NET OF NEVADA, LLC

CASH AMERICA NET OF NEW HAMPSHIRE, LLC

CASH AMERICA NET OF NEW MEXICO, LLC

CASH AMERICA NET OF NORTH DAKOTA, LLC

CASH AMERICA NET OF OHIO, LLC

CASH AMERICA NET OF OKLAHOMA, LLC

[Signature Page to Guarantor Consent and Reaffirmation — Supplement No. 9 to 1995 Note Agreement]

 

 

CASH AMERICA NET OF OREGON, LLC

CASH AMERICA NET OF PA, LLC

CASH AMERICA NET OF PENNSYLVANIA, LLC

CASH AMERICA NET OF RHODE ISLAND, LLC

CASH AMERICA NET OF SOUTH DAKOTA, LLC

CASH AMERICA NET OF TEXAS, LLC

CASH AMERICA NET OF UTAH, LLC

CASH AMERICA NET OF VIRGINIA, LLC,

CASH AMERICA NET OF WASHINGTON, LLC

CASH AMERICA NET OF WISCONSIN, LLC

CASH AMERICA NET OF WYOMING, LLC

CASHNETUSA CO, LLC

CASHNETUSA OR, LLC

THE CHECK GIANT NM, LLC,

by their Manager, CASH AMERICA NET HOLDINGS, LLC

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Austin D. Nettle
 

	 	 
	 	 	Name: Austin D. Nettle	 	 
	 	 	Title: Vice President and Treasurer	 	 

[Signature Page to Guarantor Consent and Reaffirmation — Supplement No. 9 to 1995 Note Agreement]

 

 

Exhibit B

MEMORANDUM FROM AUSTIN NETTLE

TO THE HOLDERS OF THE SENIOR NOTES

     Attached.

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