Document:

EX-10.1

Exhibit 10.1

SEVENTH AMENDMENT TO EMPLOYMENT AGREEMENT

     SEVENTH AMENDMENT dated as of October 1, 2009 (this “Amendment”) by and among TRW Automotive
Inc., TRW Limited and Peter J. Lake (“Executive”) to the EMPLOYMENT AGREEMENT dated as of February
27, 2003, as amended (the “Agreement”) between TRW Limited and Peter J. Lake (“Executive”).

     WHEREAS, the parties hereto desire to amend the Agreement as set forth below in order to
change the entity that employs Executive and correspondingly change the benefits to which Executive
is entitled.

     In consideration of the premises and mutual covenants herein, the parties agree as follows:

     1. Defined Terms. Except as modified herein, capitalized terms used herein but not
defined shall have the meanings assigned to them in the Agreement.

     2. Definition of Company. The definition of the Company and all references to the
Company in the Agreement shall be amended to refer to TRW Automotive Inc. in lieu of TRW Limited.
All rights and obligations of TRW Limited that accrue or arise under the Agreement on or after
October 1, 2009 shall hereinafter be the rights and obligations of TRW Automotive Inc. and TRW
Limited will have no further obligations under the Agreement.

     3. Amendment to Schedule 5A of the Agreement. Schedule 5A of the Agreement shall be
amended in its entirety to read as attached hereto.

     4. Amendment to Section 7.a.(iii)(D) of the Agreement. Section 7.a.(iii)(D) of the
Agreement shall be amended in its entirety to read as follows:

“(D) such Employee Benefits, if any, as to which Executive may be entitled under
the Employee Benefit plans, programs or arrangements of the Company or its
affiliates pursuant to the terms of such plans, programs or arrangements (the
amounts described in clauses (A) through (D) hereof being referred to as the
“Accrued Rights”).

     5. Amendment to Provisos. The proviso contained in each of Section 7.c.(iii)(B),
7.d.(iii)(B) and 7.e.(iii)(B) shall be amended in its entirety to read as follows:

“provided, that Executive shall not be entitled to any other cash severance or cash
termination benefits under any other plans, programs or arrangements of the Company
or its affiliates other than retirement benefit plans included in the Employee
Benefits”

     6. Amendment to Section 11(h) of the Agreement. The address for notice to the Company
contained in Section 11(h) of the Agreement shall be amended in its entirety to read as follows:

TRW Automotive Inc.

Attention: General Counsel

12001 Tech Center Drive

Livonia, Michigan 48150

     7. No Other Amendments; Effectiveness. Except as set forth in this Amendment, the
Agreement is ratified and confirmed in all respects. This Amendment shall be effective as of the
date hereof.

     8. Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York, without regard to conflicts of laws principles thereof.

     9. Counterparts. This Agreement may be signed in counterparts, each of which shall be
an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument.

 

 

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

	 	 	 
	TRW Limited

	 	Peter J. Lake
	 
	 	 
	/s/ Neil E. Marchuk

	 	/s/ Peter J. Lake
	 

	 	 
	By: Neil E. Marchuk
	 	 
	Title: Attorney-in-Fact
	 	 
	 
	 	 
	 
	 	 
	TRW Automotive Inc.
	 	 
	 
	 	 
	/s/ Neil E. Marchuk
	 	 
	 

By: Neil E. Marchuk

	 	 
	Title: Executive Vice President, Human Resources
	 	 

 

 

SCHEDULE 5A

BENEFITS SUMMARY

     Company Vehicle

     A car allowance during the Employment Term at a level comparable to that provided to other
senior executives of the Company based in the U.S. (other than the CEO).

     TRW RetireeSelect Medical Plan

     Traditional benefit with a defined dollar benefit contribution formula based on years of
service.

     TRW Automotive Retirement Savings Plan for Salaried Employees

     Traditional 401(k) plan allowing employees to invest a portion of cash compensation on a
pre-tax and after-tax basis, subject to IRS or Plan limitations.

     Benefits Equalization Plan — Executive may enroll beginning with the next available
open enrollment period after October 1, 2009.

     A nonqualified benefit plan which allows participants to make-up deferrals, including the
Company match, if any, to the Company’s 401(k) Plan otherwise unavailable due to limitation under
the Internal Revenue Code. The Plan is unfunded with book investments which mirror those available
within the Company’s 401(k) Plan. Executive is an unsecured creditor with respect to amounts
deferred under this Plan.

     Financial Planning

     Financial counseling through AYCO in accordance with the Unanimous Written Consent of the
Compensation Committee of the Board of Directors of TRW Automotive Inc. dated April 30, 2004 and
tax assistance through Deloitte LLP; provided that the combined cost may not exceed the individual
amount incurred by other senior executives of the Company (other than the CEO) for services
provided by AYCO to each such executive.

     Executive Health

     The Plan provides for reimbursement of 100% of medical, dental and vision claims as defined as
being deductible in accordance with IRS regulations. There are no co-payments or deductibles under
the plan, and participants are required to make contributions via payroll deductions.

     Life Insurance

     Coverage provided comparable to that provided to other senior executives of the Company (other than
the CEO); provided that this coverage will not be available under this Agreement to the extent that
it is duplicative of coverage available as part of the life insurance component of the Pension
Scheme (U.K.) pursuant to the terms of such Plan.

     Long-Term Disability

     Provides benefits in an amount equal to 40% of eligible compensation for those disabled in
accordance with the terms of the Plan. Participants may enroll for an additional 20% of eligible
compensation. Participant contributions are required for the additional benefit.exv10w1

EXHIBIT 10.1

MADISON PARK, LLC

30 East 71st Street — 1A

New York, New York 10021

Tel. 212 717-0520

Fax 212 717-4263

CONFIDENTIAL

	 	 	 	 	 
	EZCORP, Inc.

	 	     
	 	as of October 1, 2009
	1901 Capital Parkway
	 	 	 	 
	Austin, TX 78746
	 	 	 	 

Gentlemen:

The purpose of this letter is to set forth the agreement and understanding as of October 1, 2009,
between EZCORP, Inc. (“EZCORP”) and Madison Park, LLC (“Madison Park”) regarding advisory services
to be rendered by Madison Park to EZCORP (the “Agreement”).

	 	1.	 	EZCORP hereby engages Madison Park to provide advisory services related to EZCORP’s
business and long term strategic plan, as modified by EZCORP from time to time, including
but not limited to advising on the following:

	 	(a)	 	Identifying, evaluating and negotiating potential acquisitions
and strategic alliances;
	 
	 	(b)	 	Assessing operating and strategic objectives, including new business
development;
	 
	 	(c)	 	Advising on investor relations and relations with investment bankers,
securities analysts and other members of the financial services industry;
	 
	 	(d)	 	Assisting in international business development and
strategic investment
opportunities that complement EZCORP’s business lines and strategic objectives;
	 
	 	(e)	 	Analyzing financial condition and results of operations,
evaluating strengths and weaknesses of financial performance and recommending measures to improve
performance;
	 
	 	(f)	 	Advising on dividend policy and corporate transactions such as
stock repurchases, splits, recapitalizations and restructurings;
	 
	 	(g)	 	Providing briefings on business strategy to the Board of Directors
from time to time as appropriate; and,
	 
	 	(h)	 	Performing such other services as agreed between EZCORP and Madison
Park.

	 	2.	 	Madison Park hereby accepts the engagement described in paragraph 1 above. As
compensation for its services, EZCORP agrees to pay Madison Park an annual retainer fee of
$3,600,000, payable in $300,000 monthly installments (the “Retainer”).
	 
	 	3.	 	The term of Madison Park’s engagement shall extend from October 1, 2009, through
September 30, 2010. The Agreement shall terminate on September 30, 2010, unless terminated
earlier as provided for herein. Paragraphs 6 and 8 herein shall survive any termination or
expiration of the Agreement.

 

	 	4.	 	EZCORP shall reimburse Madison Park for its out-of-pocket travel and entertainment
expenses incurred in order to render the services contemplated to be provided by Madison
Park pursuant to this Agreement. Any other expenses must be agreed to by EZCORP in
advance. The expenses shall be documented in a similar manner applicable to EZCORP’s
executive officers and paid by EZCORP within 30 days after receipt by EZCORP of a detailed
invoice including supporting documentation.
	 
	 	5.	 	Either party may terminate this Agreement with or without cause upon 30 days written
notice to the other party.
	 
	 	6.	 	Indemnification.

	 	(a)	 	EZCORP agrees to indemnify and hold harmless Madison Park, its
affiliates, the respective officers, directors, employees, consultants,
associates and agents of Madison Park and its affiliates, and any person
controlling Madison Park or any of its affiliates within the meaning of either
Section 15 of the Securities Act of 1933 or Section 9 of the Securities
Exchange Act of 1934 (each an “indemnified person”) in connection with this
engagement from and against all claims, costs, expenses, liabilities, losses and
damages (or actions in respect thereof) related to or arising out of this
engagement or Madison Park’s connection therewith; provided, however, that
EZCORP shall not be responsible for any claims, costs, expenses, liabilities,
losses or damages of an indemnified person to the extent that it is finally
determined by a court or other tribunal of competent jurisdiction that they
resulted primarily from actions taken or omitted to be taken by such
indemnified person due to such indemnified person’s recklessness,
willful misconduct or bad faith or that they arose primarily out of or were based
primarily upon any untrue statement or omission made (i) in any document or
writing in reliance upon and in conformity with information furnished to EZCORP
by such indemnified person for use in such document or writing or (ii) in any
document in connection with the engagement without the prior approval of EZCORP.
	 
	 	(b)	 	If any action or proceeding, including, but not limited to, any
governmental investigation, shall be brought or asserted against an indemnified
person in respect of which indemnity may be sought from EZCORP, such indemnified
person shall promptly notify EZCORP in writing of an indemnified person’s knowledge
of such claim, action or proceedings, and EZCORP shall assume the defense thereof,
including, but not limited to, the employment of counsel reasonably satisfactory to
such indemnified person and the payment of all fees and disbursements of such
counsel and all other expenses related to such actions or proceedings. Such
indemnified person shall have the right to employ separate counsel in any such
action or proceeding and to participate in defense thereof, but the fees and
expenses of such separate counsel shall be at the expense of such indemnified person
unless (i) EZCORP has agreed to pay such fees and expenses or (ii) EZCORP shall have
failed to timely assume the defense of such actions or proceedings, to employ
counsel reasonably satisfactory to such indemnified person in any such action or
proceeding and if requested by such indemnified person, to confirm in writing
that it is obligated to indemnify such indemnified person against all claims, costs,
expenses, liabilities, losses and damages related to or arising out of such action
or proceeding in accordance with this agreement or (iii) counsel shall determine
that there is or could reasonably be expected to be a conflict of interest by
reason of having common counsel in any action or proceeding, in which case, if such
indemnified person notifies EZCORP in writing that it elects to employ separate
counsel at the expense of EZCORP, EZCORP shall not have the right to assume the
defense of such action or proceeding, on behalf of any such indemnified person, it
being understood, however, that EZCORP shall not, in connection with any one such
action or proceeding or separate but substantially similar or related actions or
proceedings in the same jurisdiction arising out of the same general allegations
or circumstances, be liable for the reasonable fees and expenses of more than one
separate firm of attorneys (together with appropriate local counsel) at any time for
such indemnified person, which firm shall be designated in writing by such
indemnified person. EZCORP shall not be liable for any settlement of any such
action or proceeding effected without EZCORP’s written consent, which should not be
unreasonably withheld. If settled with EZCORP’s prior written consent or if there
be a final and nonappealable judgment for the plaintiff in any such action or
proceeding, EZCORP agrees to indemnify and hold harmless such indemnified person
from and against any loss or liability to the extent stated above by reason of
such settlement or judgment.
	 
	 	(c)	 	If for any reason the indemnification provided herein is
unavailable to an indemnified person under paragraph 6(b) above in respect
of any claims, costs, expenses, liabilities, losses or damages referred
to therein or if such indemnification shall be insufficient to hold such
indemnified person harmless from all such claims, costs, expenses, liabilities,
losses or damages, then EZCORP, in lieu of indemnifying such indemnified person
shall contribute to the amount paid or payable by such indemnified person as a
result of such claims, costs, expenses, liabilities, losses, or damages,
(i) in such proportion as is appropriate to reflect

Page 2

 

	 	 	 	the relative benefits received
by EZCORP on the one hand and such indemnified person on the other hand or (ii)
if the allocation provided by clause (i) above is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of EZCORP, on the
one hand, and such indemnified person, on the other, as well as any other
relevant equitable consideration. The amount paid or payable by a party as a
result of the claims, costs, expenses, liabilities, losses or damages, referred to
above shall be deemed to include, subject to the limitations set forth in
paragraph 6(b) any legal or other fees or expenses reasonably incurred by such party
in connection with investigating or defending any action or claim.
Notwithstanding the provisions herein, Madison Park shall not be required to
contribute any amount in excess of the amount of fees received by Madison Park under
this Agreement.

	 	7.	 	The terms of this Agreement and the advice provided under this Agreement shall not be
disclosed by either party without the express written consent of the other party, except
(i) any EZCORP regulatory filing, (ii) a court proceeding, or (iii) as required by law.
	 
	 	8.	 	Madison Park hereby acknowledges that EZCORP is a publicly traded company and the
Information EZCORP discloses to Madison Park and its representatives during the course of
this engagement may include material non-public information. Accordingly, Madison Park
agrees (for itself and on behalf of its representatives) that (a) it will not disclose any
such material non-public information to anyone without EZCORP’s consent except where
Madison Park is required by law or regulations to make such disclosure and (b) it will not
use any of such information for any purpose (including engaging in transactions involving
the publicly traded securities of EZCORP) other than in connection with the performance of
services pursuant to this engagement.
	 
	 	9.	 	This Agreement shall be governed by the laws of the State of New York.
	 
	 	10.	 	The obligations under this Agreement may be assigned by Madison Park on written notice
to EZCORP. Such written notice must be delivered to EZCORP at least 30 calendar days prior
to the effective date of any such assignment.
	 
	 	11.	 	This Agreement constitutes the entire agreement of the parties hereto with respect to
all matters contemplated hereby and supersedes all previous agreements and understandings
among them concerning such matters. No statements or agreements, oral or written, made
prior to or at the signing hereof, shall vary, waive or modify the written terms hereof.

If the foregoing correctly sets forth the understanding and agreement between Madison Park and
EZCORP, please so indicate in the space provided below for this purpose, whereupon this letter
shall constitute a binding agreement.

	 	 	 	 	 
	 	MADISON PARK, LLC

 	 
	 	/s/ Virginia D. Dodson
 	 
	 	By:     Virginia D. Dodson 	 
	 	Title:  	Vice President 	 
	 

AGREED AND
ACCEPTED on this 30TH day of September, 2009 and effective as of October
1, 2009.

	 	 	 	 	 
	EZCORP, Inc.	 	 
	 
	/s/ Thomas H. Welch, Jr. 	 	 
	 	 	 
	By:

	 	Thomas H. Welch, Jr. 	 	     
	Title:

	 	Senior Vice President, General Counsel and Secretary  	 	 

Page 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]