Document:

exv10w18

EXHIBIT 10.18

EXECUTION VERSION

CASH AMERICA INTERNATIONAL, INC.

AMENDMENT NO. 1 TO NOTE PURCHASE AGREEMENT

As of December 11, 2008

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 $35,000,000 in aggregate principal amount of its 6.09% Series A
Senior Notes due December 19, 2016 (as they may be amended, restated or otherwise modified from
time to time, the “Series A Notes”) and $25,000,000 in aggregate principal amount of its 6.21%
Series B Senior Notes due December 19, 2021 (as they may be amended, restated or otherwise modified
from time to time, the “Series B Notes” and, together with the Series A Notes, collectively, the
“Notes”) pursuant to that certain Note Purchase Agreement, dated as of December 19, 2006 (as in
effect immediately prior to giving effect to the Amendments (as defined below) provided for hereby,
the “Existing Note Agreement”, and as amended as contemplated hereby, the “Note Agreement”). The
register for the registration and transfer of the Notes indicates that the parties named in Annex 1
(the “Current Holders”) to this Amendment No. 1 to Note Purchase Agreement (this “Amendment
Agreement”) are currently the holders of the entire outstanding principal amount of the Notes. The
amendments to the Existing Note Agreement as provided for by this Amendment Agreement are referred
to herein, collectively, as the “Amendments”.

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:

     1. Section 10.9(c) of the Existing Note Agreement is hereby amended and restated to read in
full as follows:

 

 

     “(c) Nothing in this Section 10.9 shall operate to prevent (i) any transaction permitted by
Section 10.2(a) or (ii) any investment in a Non-Wholly-Owned Subsidiary so long as after giving
effect to such investment the aggregate book value of all investments in Non-Wholly-Owned
Subsidiaries does not exceed 30% of Consolidated Net Worth, in each case determined as of the date
of such investment.”

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, 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 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.

     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.

2

 

     4.5. Prenda Facil

     The Company has delivered to special counsel to the Current Holders true and correct copies of
the primary documents pursuant to which the Company or any of its Subsidiaries has invested in and
acquired the business operated by the New Mexican Subsidiary (as defined below).

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 the Required Holders shall have executed and delivered this Amendment
Agreement.

     5.2. Guarantors.

     Each Guarantor which delivered the Joint and Several Guaranty (or an agreement and adoption of
the Joint and Several Guaranty) shall have executed and delivered to you the Consent and
Reaffirmation attached hereto as Exhibit A.

     5.3. Cash America of Mexico, Inc.

     The Company shall have formed Cash America of Mexico, Inc., a Delaware corporation and
Wholly-Owned Subsidiary (herein referred to as “Cash America of Mexico”). Cash America of Mexico
shall have caused to be executed and delivered to you:

     (a) an instrument in writing pursuant to which it agrees to become a Guarantor, and to
be bound as a Guarantor by the terms of the Guaranty and the Subrogation and Contribution
Agreement; such instrument shall be in the form of Exhibit B hereto; and

     (b) an Officer’s Certificate in the form of Exhibit C hereto and as
contemplated by Section 10.9(a)(ii)(D) of the Existing Note Agreement.

     5.4. Prenda Facil Acquisition.

     On the Effective Date, (a) Cash America of Mexico shall have acquired at least 80% of the
shares of capital stock of Creazione Estilo, S.A. de C.V., SOFOM, E.N.R., a Mexican sociedad
anónima de capital variable, sociedad financiera de objeto múltiple, entidad no regulada
(“Creazione”), having general voting power under ordinary circumstances to elect a majority of the
board of directors (or other governing body) of Creazione (so long as Cash America of Mexico owns
not less than 80% of such voting stock of Creazione and 80% of the outstanding shares of all other
classes of capital stock of Creazione, the “New Mexican Subsidiary”) and (b) the Company shall have
advanced funds to enable the New Mexican Subsidiary to repay all of its existing material
Indebtedness for Money Borrowed.

3

 

     5.5. Bank Consent.

     The Company shall have obtained any and all necessary consents, waivers and amendments with
respect to the Existing Bank Loan Agreement, as amended from time to time, to permit the formation
of Cash America of Mexico and the acquisition of the shares of capital stock of Creazione having
general voting power under ordinary circumstances to elect a majority of the board of directors (or
other governing body) of Creazione as contemplated by Sections 5.3 and 5.4 of this Amendment
Agreement.

     5.6. Amendment Fee.

     Each of the Current Holders shall have received a fee in an amount equal to 0.15% of the
outstanding principal amount of Notes owned by such Current Holder.

     5.7. 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 15.1 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 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. A facsimile of an executed copy of this Amendment Agreement shall have the
same effect as the original executed Amendment Agreement.

4

 

     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.]

5

 

     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/  David J. Clay
 	 
	 	 	Name:  	David J. Clay 	 
	 	 	Title:  	Senior Vice President-Finance 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

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

MINNESOTA LIFE INSURANCE COMPANY

FARM BUREAU LIFE INSURANCE COMPANY OF MICHIGAN

GREAT WESTERN INSURANCE COMPANY

FORT DEARBORN LIFE INSURANCE COMPANY

CINCINNATI INSURANCE COMPANY

BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.

FIDELITY LIFE ASSOCIATION

AMERICAN REPUBLIC INSURANCE COMPANY

TRUSTMARK INSURANCE COMPANY

SECURITY NATIONAL LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

	 	 	 	 	 
	By:  	                                  /s/  Thomas B. Houghton
 	 	 
	 	Name:  	Thomas B. Houghton 	 	 
	 	Title:  	Vice President 	 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

MIDLAND NATIONAL LIFE INSURANCE COMPANY

By: Guggenheim Partners Advisory Company, as its Agent

	 	 	 	 	 
	 	 	 
	By:  	                            /s/  Michael Damaso
 	 	 
	 	Name:  	Michael Damaso 	 	 
	 	Title:  	Senior Managing Director 	 	 
	 

NORTH AMERICAN COMPANY FOR LIFE AND HEALTH INSURANCE

By: Guggenheim Partners Advisory Company, as its Agent

	 	 	 	 	 
	 	 	 
	By:  	                                /s/  Michael Damaso
 	 	 
	 	Name:  	Michael Damaso 	 	 
	 	Title:  	Senior Managing Director 	 	 

 [Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

CUNA MUTUAL LIFE INSURANCE COMPANY

CUNA MUTUAL INSURANCE SOCIETY

CUMIS INSURANCE SOCIETY

MEMBERS LIFE INSURANCE COMPANY

By: MEMBERS Capital Advisors, Inc., acting as Investment Advisor

	 	 	 	 	 
	By:  	                       /s/  James E. McDonald Jr.
 	 	 
	 	Name:  	James E. McDonald Jr. 	 	 
	 	Title:  	Director, Private Placements 	 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	PHOENIX LIFE INSURANCE COMPANY

 	 
	 	By:  	/s/  John H. Beers
 	 
	 	 	Name:  John H. Beers	 	 
	 	 	Title:  Vice President	 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	OHIO NATIONAL LIFE ASSURANCE CORPORATION

 	 
	 	By:  	/s/  Jed R. Martin
 	 
	 	 	Name:  Jed R. Martin	 	 
	 	 	Title:  Vice President, Private Placements	 	 
	 
	 	THE OHIO NATIONAL LIFE INSURANCE COMPANY

 	 
	 	By:  	/s/  Jed R. Martin
 	 
	 	 	Name:  Jed R. Martin	 	 
	 	 	Title:  Vice President, Private Placements	 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

PRIMERICA LIFE INSURANCE COMPANY

By: Conning Asset Management Company, as Investment Manager

	 	 	 	 	 
	 	 	 
	By:  	                 /s/  John H. DeMallie
 	 	 
	 	Name:  	John H. DeMallie 	 	 
	 	Title:  	Director 	 	 
	 

AMERICAN HEALTH AND LIFE INSURANCE COMPANY

By: Conning Asset Management Company, as Investment Manager

	 	 	 	 	 
	 	 	 
	By:  	                    /s/  John H. DeMallie
 	 	 
	 	Name:  	John H. DeMallie 	 	 
	 	Title:  	Director 	 	 
	 

NATIONAL BENEFIT LIFE INSURANCE COMPANY

By: Conning Asset Management Company, as Investment Manager

	 	 	 	 	 
	 	 	 
	By:  	                   /s/  John H. DeMallie
 	 	 
	 	Name:  	John H. DeMallie 	 	 
	 	Title:  	Director 	 	 

[Signature Page to Amendment No. 1 to Note Purchase Agreement (Cash America — 2006)]

 

 

	 	 	 	 	 

Annex 1

CURRENT HOLDERS

Fort Dearborn Life Insurance Company

Minnesota Life Insurance Company

Cincinnati Insurance Company

Farm Bureau Life Insurance Company of Michigan

Blue Cross and Blue Shield of Florida, Inc.

Great Western Insurance Company

Fidelity Life Association

American Republic Insurance Company

Trustmark Insurance Company

Security National Life Insurance Company

Midland National Life Insurance Company

North American Company for Life and Health Insurance

CUNA Mutual Life Insurance Company

CUNA Mutual Insurance Society

CUMIS Insurance Society

Members Life Insurance Company

Phoenix Life Insurance Company

Ohio National Life Assurance Corporation

The Ohio National Life Insurance Company

Primerica Life Insurance Company

American Health and Life Insurance Company

National Benefit Life Insurance Company

 

 

Exhibit A

CONSENT AND REAFFIRMATION

     Each of the undersigned (the “Guarantors”) hereby (i) acknowledges receipt of a copy of the
foregoing Amendment No. 1 to Note Purchase Agreement (the “First 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 Notes pursuant to the terms of that certain Joint and Several
Guaranty, entered into by the Guarantors pursuant to the terms of the Note Agreement (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 First Amendment and has acknowledged and agreed to the same, such Guarantors understand that
the holders of the 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 First
Amendment.

 

 

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

GUARANTORS

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 COLORADO

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

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.

CASH AMERICA GLOBAL FINANCING, INC.

OHIO NEIGHBROHOOD FINANCE, INC.

	 	 	 	 	 
	 	 	 
	By  	 /s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurer 	 

 

 

CASH AMERICA NET HOLDINGS, LLC

CASH AMERICA NET CANADA, INC.

	 	 	 	 	 
	 	 	 
	By  	/s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & 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 KENTUCKY, LLC

CASH AMERICA NET OF LOUISIANA, LLC

CASH AMERICA NET OF MAINE, LLC

CASHNET CSO OF MARYLAND, LLC

CASH AMERICA NET OF MICHIGAN, LLC

CASH AMERICA NET OF MINNESOTA, LLC

CASH AMERICA NET OF MISSISSIPPI, 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

CASH AMERICA NET OF OREGON, 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

CASHNET OF AUSTRALIA, LLC

CASHNETUSA OF FLORIDA, LLC

CASHEURONET UK, LLC

OHIO CONSUMER FINANCIAL SOLUTIONS, LLC

by their Sole Member, CASH AMERICA NET
HOLDINGS, LLC

	 	 	 	 	 
	 	 	 
	By  	/s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurer 	 

 

 

	 	 	 	 	 

CASHNETUSA CO, LLC

CASHNETUSA OR, LLC

THE CHECK GIANT NM, LLC

by their Sole Member, CASH AMERICA NET OF NEW MEXICO, LLC

  by its Sole Member, CASH AMERICA NET HOLDINGS, LLC

	 	 	 	 	 
	By  	     /s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurer 	 
	 

PRIMARY CREDIT SOLUTIONS, LLC (f/k/a Primary Cash Holdings, LLC)

  by its sole member, CASH AMERICA INTERNATIONAL, INC.

	 	 	 	 	 
	By  	      /s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurer 	 
	 

PRIMARY CREDIT SERVICES, LLC (f/k/a Primary Cash Finance, LLC)

PRIMARY CREDIT PROCESSING, LLC (f/k/a Primary Cash Card Processing, LLC)

PRIMARY PAYMENT SOLUTIONS, LLC (f/k/a Primary Cash Card Services, LLC

  by their sole member, PRIMARY CREDIT SOLUTIONS, LLC (f/k/a Primary

Cash Holdings, LLC)

	 	 	 	 	 
	By  	      /s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurer 	 
	 

 

 

Exhibit B

AGREEMENT AND ADOPTION OF JOINT AND SEVERAL GUARANTY

AND SUBROGATION AND CONTRIBUTION AGREEMENT

     THIS AGREEMENT AND ADOPTION OF JOINT AND SEVERAL GUARANTY AND SUBROGATION AND CONTRIBUTION
AGREEMENT (this “Agreement”) is executed by Cash America of Mexico, Inc., a Delaware
corporation and a Wholly-Owned Subsidiary of the Company (defined below) (the “New
Guarantor”), as of the 11th day of December 2008 in favor of the Current Holders (defined in
the Amendment Agreement, which is defined below). Capitalized terms used in this Agreement but not
defined herein shall have the meanings assigned to them in the Note Agreement (defined below).

     WHEREAS, Cash America International, Inc., a Texas corporation (the “Company”) entered
into that certain Note Purchase Agreement dated as of December 19, 2006 (as in effect prior to
giving effect to the Amendment Agreement (defined below), the “Existing Note Agreement”)
with the Purchasers listed on Schedule A attached thereto; and

     WHEREAS, the Company and the Current Holders are entering into that certain Amendment No. 1 to
Note Purchase Agreement, of even date herewith, which amends the Existing Note Agreement (the
“Amendment Agreement”; the Existing Note Agreement as amended by the Amendment Agreement,
the “Note Agreement”); and

     WHEREAS, each of the existing Subsidiaries of the Company has executed a certain Joint and
Several Guaranty, or an agreement and adoption of such Joint and Several Guaranty, in favor of the
Current Holders under such Existing Note Agreement (collectively, the “Guaranty”); and

     WHEREAS, each of the existing Subsidiaries of the Company has executed a certain Subrogation
and Contribution Agreement, or an agreement and adoption of such Subrogation and Contribution
Agreement, under such Existing Note Agreement (collectively, the “Subrogation and Contribution
Agreement”); and

     WHEREAS, it is a condition precedent to the effectiveness of the Amendments contemplated by
the Amendment Agreement that the New Guarantor execute and deliver to the Current Holders an
instrument in writing in the form hereof pursuant to which it agrees to become a Guarantor, and to
be bound as a Guarantor by the terms of the Guaranty and the Subrogation and Contribution
Agreement; and

     WHEREAS, the New Guarantor desires to comply with said requirements of the Amendment
Agreement.

     NOW THEREFORE, pursuant to Section 5.3(a) of the Amendment Agreement and as an inducement to
the Current Holders to enter into the Amendment Agreement, and for other good and valuable
consideration, the receipt and legal sufficiency of which are hereby

 

 

acknowledged, the New Guarantor hereby adopts the Guaranty and the Subrogation and
Contribution Agreement, and agrees to become, and does hereby become (i) a Guarantor under the
Guaranty and the Subrogation and Contribution Agreement, and (ii) bound jointly and severally as a
Guarantor by the terms of the Guaranty and the Subrogation and Contribution Agreement. This
Agreement, the Guaranty and the Subrogation and Contribution Agreement embody the entire agreement
among the parties relating to the subject matter hereof and may not be contradicted by evidence of
prior, contemporaneous, or subsequent oral agreements of the parties. This Agreement shall be
construed, interpreted and enforced in accordance with, and governed by, the internal laws of the
State of New York.

     EXECUTED as of the date and year first above written.

    CASH AMERICA OF MEXICO, INC.

	 	 	 	 	 
	By  	       /s/  Austin D. Nettle
 	 
	 	Name:  	Austin D. Nettle 	 
	 	Title:  	Vice President & Treasurerexv10w22

EXHIBIT 10.22

	 	 	 	 	 

AMENDMENT TO THE

CASH AMERICA INTERNATIONAL, INC.

EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT

     THIS AMENDMENT to the Cash America International, Inc. Executive Change-in-Control Severance
Agreement (the “Agreement”) is made on this 24th day of December, 2008 by and between
Cash America International, Inc. (the “Company”) and                                          (the “Executive”).

     WHEREAS, the Company and the Executive entered into the Agreement to provide for certain
benefits upon termination of the Executive’s employment within 24 months after a change in control;
and

     WHEREAS, the Company and the Executive desire to amend the Agreement to comply with Section
409A of the Internal Revenue Code of 1986, as amended (“Section 409A”);

     NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
of the parties set forth in the Agreement and this Amendment, and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound, agree that the Agreement shall be amended as follows, effective as
of January 1, 2009:

	1.	 	Subsection (c) of Article 1 of the Agreement is hereby deleted.
	 
	2.	 	Subsection (f) of Article 1 of the Agreement is hereby amended to read as follows:
	 
	 	 	(f) “Change in Control” shall mean an event that is a change in the ownership of Cash
America International, Inc., or any successor thereto as provided in Article 8 hereto,
(“CAI”), a change in the effective control of CAI or a change in the ownership of a
substantial portion of the assets of CAI, all as defined in Code Section 409A and guidance
issued thereto, except that 80% shall be substituted for 40% in applying Treasury
Regulations Section 1.409A-3(i)(5)(vii). Notwithstanding the above, a Change in Control
shall not include any event that is not treated under Section 409A or guidance issued
thereto as a change in control event with respect to Executive.
	 
	3.	 	Subsection (l) of Article 1 of the Agreement is hereby amended to read as follows:
	 
	 	 	(l) “Effective Date of Termination” means the date on which a Qualifying Termination occurs,
as provided in Section 2.2 herein.
	 
	4.	 	Subsection (n) of Article 1 of the Agreement is hereby amended to read as follows:

     (n) “Good Reason” means, without the Executive’s express written consent, the
occurrence after a Change in Control of the Company of any one (1) or more of the following:

 

 

	 	(i)	 	The assignment of the Executive to duties materially
inconsistent with, and which would constitute a material diminution with
respect to, the Executive’s authorities, duties, responsibilities, and status
(including offices, titles, and reporting requirements) as an executive and/or
officer of the Company, or a material reduction or alteration in the nature or
status of the Executive’s authorities, duties, or responsibilities from those
in effect as of ninety (90) calendar days prior to the Change in Control, other
than an insubstantial and inadvertent act;
	 
	 	(ii)	 	The Company’s requiring the Executive to be based at a location
in excess of thirty-five (35) miles from the location of the Executive’s
principal job location or office immediately prior to the Change in Control;
except for required travel on the Company’s business to an extent substantially
consistent with the Executive’s then-present business travel obligations;
	 
	 	(iii)	 	A reduction by the Company of the Executive’s Base Salary in
effect on the Effective Date hereof, or as the same shall be increased from
time to time;
	 
	 	(iv)	 	The failure of the Company to continue in effect any of the
Company’s short- and long-term incentive compensation plans, or employee
benefit or retirement plans, policies, practices, or other compensation
arrangements in which the Executive participates unless such failure to
continue the plan, policy, practice, or arrangement pertains to all plan
participants generally; or the failure by the Company to continue the
Executive’s participation therein on substantially the same basis, both in
terms of the amount of benefits provided and the level of the Executive’s
participation relative to other participants, as existed immediately prior to
the Change in Control of the Company;
	 
	 	(v)	 	The failure of the Company to obtain a satisfactory agreement
from any successor to the Company to assume and agree to perform the Company’s
obligations under this Agreement, such that there is a breach of Article 8
herein; and
	 
	 	(vi)	 	A material breach of this Agreement by the Company which is not
remedied by the Company within ten (10) business days of receipt of written
notice of such breach delivered by the Executive to the Company.

	5.	 	Subsection (o) of Article 1 shall be deleted.

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	6.	 	Subsection (p) of Article 1 of the Agreement shall be amended to read as follows:
	 
	 	 	“Qualifying Termination” means any of the events described in Section 2.2 herein, the
occurrence of which gives rise to the entitlement to payment of Severance Benefits
hereunder.
	 
	7.	 	A new subsection (s) shall be added to Article 1 of the Agreement, to read as follows:
	 
	 	 	(s) “Separation from Service” or “Separate from Service” means the Executive separates from
service with the Company as determined under Code Section 409A. For purposes of determining
whether a Separation from Service has occurred, the “Company” shall include the Company and
all entities that would be treated as a single employer with the Company under Code Sections
414(b) or (c), but substituting “at least 50 percent” instead of “at least 80 percent” each
place it appears in applying such rules.
	 
	8.	 	Section 2.1 of the Agreement is hereby amended to read as follows:

     2.1 Right to Severance Benefits. The Executive shall be entitled to receive from the
Company Severance Benefits as described in Section 2.3 herein, if there has been a Change in
Control of the Company and if, within twenty-four (24) months thereafter, the Executive
Separates from Service with the Company for any reason specified in Section 2.2 herein as
being a Qualifying Termination.

          The Executive shall not be entitled to receive Severance Benefits if he is terminated
for Cause, or if his employment with the Company ends due to death, Disability, or due to a
voluntary termination of employment for reasons other than as specified in Section 2.2(b)
herein.

	9.	 	Section 2.2 of the Agreement is hereby amended to read as follows:

          2.2 Qualifying Termination. The occurrence of any one of the following events within
twenty-four (24) months after a Change in Control of the Company shall be considered a “Qualifying
Termination” and shall give rise to Executive’s entitlement to Severance Benefits under this
Agreement:

	 	          (a)	 	The Company’s involuntary termination of the Executive’s
employment without Cause; and
	 
	 	          (b)	 	The Executive’s voluntary termination of employment following
the initial existence of a Good Reason.

          For purposes of this Agreement, a Qualifying Termination shall not include a termination of
employment by reason of death or Disability, the Executive’s voluntary termination for reasons
other than as specified in Section 2.2(b) herein, or the Company’s involuntary termination for
Cause.

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	10.	 	Section 2.3(a) of the Agreement is hereby amended to read as follows:

	 	(a)	 	A lump-sum amount equal to the Executive’s unpaid Base Salary,
accrued vacation pay and unreimbursed business expenses, as well as all other
items earned by and owed to the Executive to the extent permitted under Code
Section 409A, through and including the Effective Date of Termination.

	11.	 	Section 2.3(e) of the Agreement is hereby amended to read as follows:

	 	(e)	 	An immediate vesting of any and all outstanding cash-based
long-term incentive awards held by the Executive, as granted to the Executive
by the Company as a component of the Executive’s compensation. The vested
amount shall be the greater of: (i) an amount calculated under the terms of the
incentive award based on the higher of actual performance goal achievement or
target award level established for each award, multiplied by a fraction the
numerator of which is the full number of completed calendar months in the
preestablished performance period as of the Effective Date of Termination, and
the denominator of which is the full number of months in the entire performance
period (i.e., typically thirty-six (36) months); or (ii) the amount to which
the Executive would be entitled under the terms of the long-term incentive
award in the absence of this provision. The time and form of payment of this
vested amount shall be determined pursuant to the terms of the long-term
incentive awards.

	12.	 	Section 2.3(f) of the Agreement is hereby amended to read as follows:

	 	(f)	 	An immediate vesting and the lapse of all restrictions on any
and all outstanding stock option, restricted stock and restricted stock unit
awards held by the Executive, to the extent not already provided for in the
award agreement.

	13.	 	Section 2.3(g) of the Agreement is hereby amended to read as follows:

	 	(g)	 	Equivalent payment for continued medical coverage under the
Company’s group health plan and/or under the Company’s supplemental executive
medical expense reimbursement plan (“MERP”), for a period of twenty-four (24)
months following the date of Separation from Service, based on the same
coverage level, including dependent coverage, as in effect on the Effective
Date of Termination. With respect to coverage other than the MERP, such
equivalent payment shall be provided by (i) providing reimbursement of the
portion of the monthly COBRA premium in excess of the amounts (if any) that
similarly-situated active employees would pay for similar coverage under the
Company’s plans for the period of time during which Executive would be entitled
to COBRA coverage (i.e., the first eighteen (18) months), or a direct reduction
in premiums in lieu of

4

 

	 	 	 	reimbursement if determined by the Company in its discretion; and (ii)
providing a lump-sum payment equal to the reimbursement described in clause
(i) for the first monthly COBRA premium times six (6). The Company shall
also pay a lump-sum payment equal to the portion of the monthly MERP premium
in excess of the amounts (if any) that similarly-situated active employees
would pay for similar coverage under the MERP for a period of twenty-four
(24) months. Executive’s dependents shall be entitled to continue coverage
for the full 24-month period following the Effective Date of Termination,
even if the Executive dies during such period. Each payment or premium
discount under this subsection shall be considered a separate payment for
purposes of Code Section 409A.

	14.	 	Section 2.3(h) of the Agreement is hereby amended to read as follows:

	 	(h)	 	Up to $50,000 for reimbursement of amounts paid by the
Executive for reasonable outplacement services from a reputable executive
search firm of the Executive’s selection (or direct payment to such search
firm), to the extent that the Executive incurs such expenses (i) as a direct
result of the Separation from Service and (ii) within 24 months after the date
of the Separation from Service. Notwithstanding anything in this Agreement to
the contrary, the Company shall provide any reimbursements described in this
Section 2.3(h) to the Executive on or before the December 31 of the third
calendar year following the calendar year that includes the Separation from
Service.

	15.	 	Section 2.5 of the Agreement is hereby amended to read as follows:

     2.5 Termination for Death. Following a Change in Control, if the Executive’s
employment with the Company is terminated by reason of his death, the Executive’s benefits
shall be determined in accordance with the Company’s retirement, survivor’s benefits,
insurance, and other applicable programs then in effect.

	16.	 	Section 2.7 of the Agreement is hereby amended by adding the following sentence to the end
thereof:

In order to terminate for Good Reason, (i) the Executive must give the Company 30 days’
written notice of the intent to terminate for Good Reason within 90 days of the initial
existence of the conditions purportedly constituting Good Reason; (ii) the termination for
Good Reason shall only take effect if the Company has not cured any conditions that are
identified in such notice by Executive, and that constitute Good Reason, within 30 days
after such notice; and (iii) the date of termination of employment may not be later than 130
days after the date of the initial existence of the conditions purportedly constituting Good
Reason.

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	17.	 	Section 3.1 of the Agreement is hereby amended to read as follows:

     3.1 Form and Timing of Severance Benefits. The Severance Benefits described in
Sections 2.3(a), 2.3(b), 2.3(c) and 2.3(d) herein and the lump sum payments described in
Section 2.3(g) herein shall be paid in cash to the Executive in a single lump sum as soon as
practicable following the date of Separation from Service, but in no event later than ten
(10) calendar days from such date. Notwithstanding the foregoing, to the extent required by
Code Section 409A, all or a portion of such payments shall be delayed to the date that is
six months after the date of Separation from Service.

	18.	 	Section 3.2 of the Agreement is hereby amended to read as follows:

     3.2 Withholding of Taxes. Upon payment of Severance Benefits or other amounts payable
under this Agreement, the Company shall withhold from those Severance Benefits or other
amounts all federal, state, city, or other taxes as legally shall be required.

	19.	 	Section 4.1 of the Agreement is hereby amended to read as follows:

     4.1 Excise Tax Payment. If any portion of the Severance Benefits or any other payment
under this Agreement, or under any other agreement with, or plan of the Company (in the
aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that a
golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an
additional payment in an amount sufficient to cover the full cost of any excise tax and all
of the Executive’s additional state and federal income, excise, and employment taxes that
arise on this additional payment (cumulatively, the “Full Gross-Up Payment”), such that the
Executive is in the same after-tax position as if he had not been subject to the excise tax.
Such payment will be made as soon as administratively practicable, but in any case on or
before December 31 of the calendar year next following the calendar year in which the
Executive remits the related taxes.

          For purposes of this Agreement, the term “excess parachute payment” shall have the
meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the
“Code”), and the term “excise tax” shall mean the tax imposed on such excess parachute
payment pursuant to Sections 280G and 4999 of the Code.

	20.	 	Section 4.2 of the Agreement is hereby amended as follows:

     4.2 Subsequent Recalculation. In the event the Internal Revenue Service subsequently
adjusts the excise tax computation herein described, the Company shall reimburse the
Executive for the full amount necessary to make the Executive whole on an after-tax basis
(less any amounts received by the Executive that the Executive would not have received had
the computations initially been computed as subsequently adjusted), including the value of
any underpaid excise tax. This payment shall be made on or before the December 31 of the
calendar year following the calendar year in which the Executive remits the additional
excise tax.

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	21.	 	Section 7.2 of the Agreement is hereby amended as follows:

     7.2 Payment of Legal Fees. In the event that it shall be necessary or desirable for
the Executive to retain legal counsel and/or to incur other costs and expenses in connection
with the enforcement of any or all of his rights under this Agreement, the Company shall pay
(or the Executive shall be entitled to recover from the Company) on or before the December
31 of the calendar year following the calendar year in which the legal costs and expenses
are incurred, any reasonable attorneys’ fees, costs, and expenses in connection with the
good faith enforcement of the Executive’s rights (including the enforcement of any
arbitration award) that arise during the Executive’s lifetime. This shall include, without
limitation, court costs and attorney’s fees incurred by the Executive as a result of any
good faith claim, action, or proceeding, including any such action against the Company
arising out of, or challenging the validity or enforceability of, this Agreement or any
provision hereof. This right to receive legal fees is not subject to liquidation or
exchange for another benefit, and the amount of fees or expenses provided during one
calendar year will not affect the amount of fees or expenses eligible for reimbursement or
provided in any other calendar year.

	22.	 	A new Section 9.9 shall be added to the Agreement, to read as follows:

     9.9 Construction. This Agreement is intended to provide for severance payments and
benefits and short-term deferrals exempt from Internal Revenue Code Section 409A, and shall
be construed accordingly. To the extent that this Agreement provides for amounts not
eligible for such exemptions, this Agreement is intended to comply with Internal Revenue
Code Section 409A, and shall be construed accordingly.

	23.	 	This Amendment may be executed in counterparts, each of which will be deemed an original, but
all of which together will constitute one and the same instrument.

          IN WITNESS WHEREOF, set forth the Company has caused its duly authorized officer to execute
this Amendment on the date set forth above.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	EXECUTIVE	 	 	 	CASH AMERICA INTERNATIONAL, INC.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	
	 	 	 	By:
	 	/s/ Daniel R. Feehan
	 	 	.	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Daniel R. Feehan

Chief Executive Officer	 	 	 	 

7

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