Document:

exv10w2

 

Exhibit
10.2

[HARMAN LETTERHEAD]

May 2, 2008

Mr. Herbert K. Parker

9 Pepperbush Road

Weston, CT 06883

Dear Herbert:

On behalf of Harman International Industries, Incorporated (“Harman”), I submit an offer for the
position of EVP and Chief Financial Officer. In this capacity you will report directly to me and
be a member of the Harman Executive Committee. You will be located at our Stamford, Connecticut
office. This offer provides the following:

Start Date: Your start date will be June 2, 2008 or an earlier date should your
employment with your current employer be terminated before May 30, 2008.

Base Salary: Your annual base salary will be $500,000, subject to annual review (for
increase, but not decrease) commencing on September 1, 2009, and payable in accordance with our
regular payroll schedule in Stamford, CT.

Signing Bonus: Within five business days after your start date, you will be paid a cash
lump sum signing bonus in an aggregate amount of $100,000. In addition, you will receive a
second cash lump sum bonus in an aggregate amount of $162,500 payable on July 1, 2008, as a
replacement for your bonus from your former employer. This was calculated pro-rata for your
months of service with your former employer and assumes that its performance targets for the
current year will be met.

Bonus: Beginning with fiscal year 2009, you will be eligible to participate in the
Management Incentive Compensation program with a target bonus opportunity equal to 60% of your
base salary and a 90% maximum. This bonus program is based upon Harman’s achievement of its
business plan, as well as your achievement of personal performance goals.

LTI Replacement Value: You will receive on your start date a one-time stock option award
of approximately 52,000 shares of Harman common stock under the terms of Harman’s 2002 Stock
Option and Incentive Plan (“Plan”) at a per share exercise price equal to the fair market value
on the grant date. The final number of shares will be determined using the lattice-based model
previously discussed. The option vesting dates will be 2/2/2009 and 5/13/2010.

Stock Options: You will receive on your start date a one-time stock option award of
50,000 shares of Harman common stock under the terms of the Plan at a per share exercise price
equal to the fair market value on the grant date. The option will vest 20% per year over five
years commencing on the first anniversary of the grant date, with acceleration and other
provisions as
provided in the Plan and your option agreement. You will also be eligible for a stock option
grant at the next general grant, at a level commensurate with your position.

Restricted Stock: You will receive a one-time award of 5,500 shares of restricted Harman
common stock under the Plan, vesting on June 2, 2011, if you are employed by Harman on that date.

 

 

Mr. Herbert K. Parker

May 2, 2008

Page 2

Severance: If your employment is terminated by Harman without “Cause” within the first
year of employment, you will receive one year of salary continuation and company-paid COBRA
benefits during the salary continuation period. Subject to the approval of the Compensation and
Option Committee of the Board of Directors, your initial stock option grants and restricted stock
award will vest upon such termination and you would have ninety (90) days thereafter within which
to exercise, in accordance with the terms of the Plan, those stock options that are vested as of
the Termination Date. “Cause” is defined in Attachment A attached hereto. Such
payments will be subject to the execution by you of a release substantially in the form attached
hereto as Attachment B. Your salary continuation payments would commence on the
60th day after your termination of employment; provided, however, that if on the due
date for any salary continuation payment, all revocation periods have not then expired with
respect to your release, such payment will be forfeited.

Change in Control: Effective as of your start date, Harman will enter into a “Change of
Control” agreement with you in the form previously provided to you.

Company Car: You will have use of a company-leased automobile, with a lease payment of
approximately $1,500 per month. Harman will bear the car expenses (i.e., gasoline, insurance,
car tax, repairs) associated with the business use of the company car. You may use the company
car for private purposes, however taxes imposed with respect to private usage will be borne by
you.

Vacation: You will be eligible for accrual of four (4) weeks of vacation annually,
pro-rated for 2008 based on your start date.

Other Benefits: Additional benefits, as defined by Company policy and governing plan
documents, currently include medical, dental, vision, life insurance, short and long-term
disability insurance, tuition reimbursement, 401(k) Retirement Savings Plan and all Company-paid
holidays. Eligibility to participate in these benefits commences thirty (30) days after your
date of hire, except for the 401(k) plan under which participation is available on the first plan
enrollment date following 180 days of employment.

Section 409A: For purposes of Section 409A of the Internal Revenue Code, each salary
continuation payment and Company-paid COBRA benefit will be considered one of a series of
separate payments. If at the time of your separation from service (within the meaning of Section
409A), (i) you are a specified employee (within the meaning of Section 409A and using the
identification methodology selected by Harman from time to time) and (ii) Harman makes a good
faith determination that an amount payable hereunder constitutes deferred compensation (within
the meaning of Section 409A) the payment of which is required to be delayed pursuant to the
six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section
409A, then Harman will not pay such amount on the otherwise scheduled payment date but will
instead pay it, without interest, on the first business day after such six-month period,
subject to the release requirements noted above. To the extent that there is a material risk
that any payments under this letter, the change in control agreement or any grant may result in
the imposition of an additional tax to you under Section 409A, the company will reasonably
cooperate with you to amend this letter and related documents such that such documents and
payments thereunder comply with Section 409A without materially changing the economic value of
this letter or the arrangements hereunder to either party.

The Company will, in connection with your employment, withhold from any compensation and benefits
payable to you all federal, state, city and other taxes as requested by you or that the Company
is required to withhold pursuant to any law or government regulation or ruling.

 

 

Mr. Herbert K. Parker

May 2, 2008

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Harman is not hereby offering you lifetime employment or employment for a fixed or implied period
of time. Either you or Harman may terminate your employment at any time, with or without cause
or notice. The at-will nature of your employment relationship cannot be changed except in a
written document signed by you and me. Upon termination of your employment, Harman will have no
further obligations to you under this letter agreement except to the extent provided under
“Severance” above.

Any dispute concerning termination of your employment shall be resolved by final and binding
arbitration before a neutral arbitrator. The arbitrator shall be selected by mutual agreement or
in accordance with the procedures of the American Arbitration Association and the employment
arbitration rules of the American Arbitration Association shall apply. Such arbitration shall be
conducted in Stamford, Connecticut or such other location as to which you and Harman agree. The
law of Connecticut, without regard to its choice of law rules, shall govern any such dispute, and
the arbitrator shall not have authority to vary or alter the terms of this letter.

You will be expected to sign the Company’s standard form of Invention and Secrecy Agreement (see
Attachment C) on your start date.

You acknowledge and agree that your acceptance of this offer will violate no agreements or
arrangements with other individuals or entities, or duties to your current employer. Please sign
and return the original of this letter. You should retain one copy of this letter for your
files.

I look forward to working with you again and welcome the contributions you will bring to this
outstanding company.

Best regards,

	 	 	 
	/s/ Dinesh C. Paliwal
 

Dinesh C. Paliwal

President, CEO & Vice-Chairman

	 	 

 

 

Mr. Herbert K. Parker

May 2, 2008

Page 4

I accept your offer of employment and agree to the provisions stated in this letter. I
acknowledge and agree that this letter constitutes the entire agreement between Harman and me and
supersedes all prior verbal or written agreements, arrangements or understandings pertaining to my
offer of employment. I understand that I am employed at will and that my employment can be
terminated at any time, with or without cause, at the option of either the Company or me.

ACCEPTED AND AGREED:

	 	 	 	 	 	 	 
	/s/ Herbert K. Parker
 

Herbert K. Parker

	 	 	 	May 2, 2008
 

Date
	 	 

 

 

ATTACHMENT A

TERMINATION DEFINITIONS

“Cause” means:

	 	(i)	 	You have been convicted of a felony; or
	 
	 	(ii)	 	You have engaged in conduct that constitutes willful gross neglect or willful gross
misconduct with respect to your employment duties which results in material economic harm
to Harman, as determined by the Company’s Board of Directors in its reasonable discretion.

 

 

ATTACHMENT B

AGREEMENT AND RELEASE (“Release”)

In consideration of the agreement by Harman International Industries, Inc. (the “Company” or
“Employer”) to provide the benefits described in Section 3 of the letter agreement between me and
the Company dated May 2, 2009 (the “Agreement”) and in consideration for the Company’s other
promises in the Agreement and herein, I agree as follows:

	1.	 	Release of Known and Unknown Claims by Me.

	 	a)	 	I hereby release and forever discharge the Company and each of its associates,
owners, stockholders, affiliates, divisions, subsidiaries, predecessors, successors,
heirs, assigns, agents, directors, officers, partners, employees, representatives, and
insurers (collectively, the “Company Releasees”) of and from any and all manner of action
or actions, cause or causes of actions, in law or in equity, suits, debts, liens,
contracts, agreements, promises, liabilities, claims, demands, damages, loss, cost or
expense, of any nature whatsoever, known or unknown, fixed or contingent, which I now
have or may have against the Company or any Company Releasee to the extent acting by,
through, under or in concert with the Company, by reason of any matter, cause or thing
whatsoever from the beginning of time to the Effective Date. The claims released herein
include, without limitation, claims arising out of, based upon, or relating to the hire,
employment, remuneration or termination of my employment and any claims constituting,
arising out of, based upon, or relating to any tort theory, any express or implied
contract, Title VII of the Civil Rights Act of 1964, the Civil Rights of 1866, the Civil
Rights Act of 1991, the Age Discrimination in Employment Act (29 U.S.C. §§621 et seq.),
the Equal Pay Act, the Fair Labor Standards Act, the Consolidated Omnibus Budget
Reconciliation Act, the Employee Retirement Income Security Act, the Family and Medical
Leave Act, the Americans with Disabilities Act, and any other local, state or federal law
governing the employment relationship. Notwithstanding anything herein to the contrary,
nothing herein or otherwise shall release the Company from any claims, rights or damages
that I may have (i) under the Agreement or this Release; (ii) as a stockholder in the
Company; or (iii) that may not be released or waived as a matter of law.
	 
	 	b)	 	I expressly acknowledge, agree and recite that (i) the release and waiver set forth
in subsection 1(a) above are written in a manner I understand; (ii) in executing this
Release, I am not waiving rights or claims that may arise after the date that this
Release becomes effective; (iii) I am waiving rights or claims only in exchange for
consideration in addition to anything to which I am otherwise entitled; (iv) I have
entered into and executed this Release knowingly and voluntarily; (v) I have read and
understand this Release in its entirety; and (vi) I have not been forced to sign this Release by any employee or agent
of Employer.
	 
	 	c)	 	I represent and warrant that there has been no assignment or other transfer of any
interest in any claims released hereunder, and I agree to indemnify and hold the Company
Releasees harmless from any liability, claims, demands,

 

 

	 	 	 	damages, reasonable costs, reasonable expenses and reasonable attorney’s fees incurred by the
Company Releasees as a result of any person asserting any such assignment or transfer. It is
the intention of the parties that this indemnity does not require payment as a condition
precedent to recovery by the Company Releasees against me under this indemnity.
	 
	 	d)	 	I agree that, except for claims made to or brought by the Equal Employment
Opportunity Commission (“EEOC”), if I hereafter commence, join in, or in any manner seek
relief through any suit arising out of, based upon or relating to any of the claims
released hereunder, or in any manner assert against the Company Releasees any of the
claims released hereunder, I shall pay to the Company Releasees in addition to any other
damages caused to the Company Releasees thereby, all reasonable attorneys fees incurred
by the Company Releasees in defending or otherwise responding to said suit or claim.
	 
	 	e)	 	It is my intention that my execution of this Release will forever bar every claim,
demand, cause of action, charge and grievance released above.

	2.	 	Assumption of Risk. Each of the parties fully understands that if any fact with
respect to any matter covered by this Release is found hereafter to be other than, or
different from, the facts now believed by any of the parties to be true, each of the parties
expressly accepts and assumes the risk of such possible difference in fact and agrees that the
release provisions hereof shall be and remain effective notwithstanding any such difference in
fact.

	3.	 	No Pending Actions. I represent that I do not presently have on file any complaint,
charge or claim (civil, administrative or criminal) against the Company in any court or
administrative forum, or before any governmental agency or entity. I represent that I will
not hereafter file any complaints, charges or claims (civil, administrative or criminal)
against the Company with any administrative, state, federal or other governmental entity,
agency, board or court (except the EEOC) with respect to the claims released in Section 1
above.

	4.	 	Proprietary and Privileged Information. I agree and acknowledge that during the
course of my employment with Company, I received confidential and/or proprietary information
relating to, without limitation, Company and its subsidiaries’ and affiliates’ business and
marketing strategies, finances, benefit plans, systems, products and employees. I agree on
the date upon which I sign this Release to return to the Company any and all documents, papers
and material (including any of the same stored on electronic media such as diskettes or tapes)
containing such confidential and/or proprietary information which has not theretofore been
returned to the Company. I further agree that, following my signing of this Release and for
so long thereafter as such information is not in the public domain through no fault of mine, I
will not use or disclose any such confidential and/or proprietary information, either directly
or indirectly, to or for the benefit of any other person, firm or corporation. The provisions
of this Section 4 supplement, but do not replace, my legal and other contractual obligations
(if any) relating to confidential Company information.

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	5.	 	No Admission of Liability. I understand and agree that neither the execution of this
Release nor the performance of any term hereof shall constitute or be construed as an
admission of any liability whatsoever by either the Company or me, as both the Company and I
have consistently taken the position that it/I have no liability whatsoever to the other.

	6.	 	Confidentiality. The terms and conditions of this Release shall be kept confidential
by the Company as well as by me; provided, that it shall not be a breach of this Release for
me to present this Release under seal to any court called upon to enforce it, and, so long as
such disclosure is accompanied by a warning that the recipient must keep the information
confidential, it also shall not be a breach of this Release for me to disclose any part of
this Release or the information contained herein to a member of my immediate family or to my
legal counsel or tax or financial advisor(s); provided further, that it shall not be a breach
of this Release for me to comply with a valid court order or subpoena requiring the disclosure
of any information about this Release, or as otherwise required by law.

	7.	 	Arbitration. The parties hereby agree to submit any claim or dispute arising out of
the terms of the Agreement or this Release to private and confidential arbitration by a single
neutral arbitrator. Subject to the terms of this paragraph, the arbitration proceedings shall
be governed by the then current Rules of the American Arbitration Association (“AAA”) and
shall be conducted in New York, N.Y., or such other location upon which Company and I agree.
The arbitrator shall be appointed by agreement of the Company and me or, if no agreement can
be reached within two weeks of the matter’s first submission to the AAA, by the AAA pursuant
to its Rules. The decision of the arbitrator shall be final and binding on the Company and
me, and judgment thereon may be entered in any court having jurisdiction. All costs of the
arbitration proceeding, including reasonable attorneys’ fees and witness expenses, shall be
paid by the party against whom the arbitrator rules. This arbitration procedure is intended
to be the exclusive method of resolving any claim for breach of the Agreement or this Release;
provided, however, that nothing in this Section 7 shall prohibit either the Company or me from
requesting a court of law to issue any injunction to prohibit future breaches of Section 4 or
any obligation referred to in the last sentence of Section 4. This Release and the Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York
(excluding the choice of law rules thereof).

	8.	 	Attorneys’ Fees. If the Company or I bring an action or proceeding for breach of the
Agreement or this Release or to enforce its or my rights hereunder or thereunder, the
prevailing party shall be entitled to recover its costs and expenses, including court and/or
arbitration costs and reasonable attorneys’ fees, if any, incurred in connection with such
action.

	9.	 	Return of Employer Property. I represent that I have returned to the Company all
Company products, samples, equipment, parts, inventory, manuals, technical information and
other Company materials in my possession or under my control, except those with respect to
which I have made arrangements with the Company to pick up or otherwise deliver to the
Company. Company’s receipt of all such items

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	 	 	which I am obligated to return is a condition of
its obligation to provide me the benefits described in Section 3 of the Agreement.
	 
	10.	 	Construction of Agreement and Release. The Agreement and this Release shall be
construed as a whole in accordance with their fair meaning and in accordance with the laws of
the State of New York. Neither the language of the Agreement nor that of this Release shall
be construed for or against any particular party, solely by reason of authorship. Each and
every covenant, term, provision and agreement herein contained shall be binding upon and inure
to the benefit of the successors and assigns of the parties hereto. The headings used herein
and in the Agreement are for reference only and shall not affect the construction of any of
them.

	11.	 	Sole Agreement. The Agreement, this Release, and the obligations referred to in the
last sentence of Section 4 above (if any), represent the sole and entire agreement between the
parties and supersede all prior agreements, negotiations and discussions between the parties
and/or their respective counsel with respect to the subject matters covered hereby.

	12.	 	Severability. In the event that any one or more of the provisions contained in the
Agreement and this Release shall, for any reason, by held to be invalid, void, illegal or
unenforceable in any respect, such invalidity, voidness, illegality or lack of enforceability
shall not affect any other provision of the Agreement or this Release, as the case may be, and
the remaining portions shall remain in full force and effect.

	13.	 	Amendment to Agreement.

	 	a)	 	Any amendment or modification of the Agreement or this Release must be made in a writing
signed by me and a duly authorized representative of the Company and stating the intent of
both parties to amend the Agreement or the Release, as applicable.
	 
	 	b)	 	Notices. All notices, requests, demands and other communications hereunder must be
in writing, marked “Personal and Confidential,” and shall be deemed to have been given if
delivered by hand or mailed by first class, postage and registry fees prepaid, and addressed
as follows:

	 	 	 	 	 	 	 	 	 
	 

	 	(1) If to Employee:	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	(2) If to Company:
	 	 	 	Attn: Chief Executive Officer	 	 
	 

	 	 	 	 	 	Harman International Industries, Inc.	 	 
	 

	 	 	 	 	 	400 Atlantic Street, 15th Floor	 	 
	 

	 	 	 	 	 	Stamford, CT 06901	 	 

	14.	 	Revocation; Effectiveness. I understand that I have the right to revoke this Release
within seven (7) calendar days after I sign it. This Release will become effective and
enforceable only after I have signed it and upon expiration of the seven-day revocation period
with no revocation taking place (the “Effective Date”). I understand that if I desire to
revoke this Release, I must give actual, written notice of revocation to the above person at
the above address before the seven-day revocation period expires.

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The date indicated and my signature below acknowledge my review, understanding and full, knowing
and voluntary acceptance of the terms and conditions set forth in this Release.

IN WITNESS WHEREOF, I, intending to be legally bound hereby, have executed this Release.

	 	 	 	 	 
	 
	 

Herbert K. Parker (“Employee”, “me”, or “I”)

	 	 

Date
	 	 

- 5 -exv10w1

 

Exhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT

     THIS AGREEMENT is effective as of the 1st day of May, 2008, by and between Cash
America International, Inc., a Texas corporation (“CAI”); Cash America Management L.P., a
wholly-owned subsidiary of CAI (“CAM”); and Daniel R. Feehan, an individual whose principal
residence is in Fort Worth, Texas (“Executive”).

STATEMENT OF BACKGROUND

	A.	 	CAM is a management company affiliated with CAI that, among other things, performs management
and administrative services for CAI and its affiliates.
	 
	B.	 	From February of 2000 through the present, CAM has employed Executive for the purpose of
serving in the capacity as its chief executive and, in that capacity, Executive has also
performed the responsibilities of the President and Chief Executive Officer of CAI, all
pursuant to the terms of several written employment agreements, the most recent being the
Amended and Restated Executive Employment Agreement dated as of January 21, 2004, as amended
from time to time thereafter (the “2004 Agreement”).
	 
	B.	 	Executive has excelled in Executive’s position and its attendant responsibilities, and CAM
and CAI (collectively, “Cash America”) believe that (i) retaining Executive as the chief
executive of CAM to, among other things, serve in the capacity as the President and Chief
Executive Officer of CAI, and (ii) the benefits of Executive’s business experience, senior
executive skills and leadership, are of material importance to Cash America and the CAI
shareholders.
	 
	C.	 	CAM wishes to retain Executive through the term of this Agreement.
	 
	D.	 	To that end, the parties agree that the 2004 Agreement expired by its terms on April 30,
2008, and that the terms and conditions of this Agreement shall govern Executive’s employment
by CAM for the purposes described herein beginning on May 1, 2008 (the “Effective Date”), and
that this Agreement supersedes the 2004 Agreement and all prior agreements among the parties
with respect to the employment, compensation and benefits of Executive.

STATEMENT OF AGREEMENT

     In consideration of the mutual promises contained in this Agreement and other good and
valuable consideration, the sufficiency of which hereby is acknowledged, Cash America and Executive
agree as follows:

1. Employment Status . CAM agrees to employ Executive and Executive agrees to serve as the chief executive of CAM,
with the duties and responsibilities, and pursuant to the terms, set forth in this Agreement.

2. Term . Unless terminated sooner pursuant to the terms of this section or Section 5, the initial
term of Executive’s employment under this Agreement will be for a five year term

 

 

commencing as of
the Effective Date and terminating on April 30, 2013 (the “Initial Term”). The Management
Development and Compensation Committee (the “Compensation Committee”) of CAI’s Board of Directors
(the “Board”) may extend the term of this Agreement for additional successive one year renewal
terms commencing on the 5th anniversary of the Effective Date and on each subsequent
anniversary of the Effective Date by notifying Executive in writing, at least 60 days before the
expiration of the then current term, of its intention to extend this Agreement. The Initial Term
described in this section and any such extensions of the Initial Term will be referred to in this
Employment Agreement as the “Term”, and any 1-year period beginning on the Effective Date or any
anniversary thereof will be referred to as a “Contract Year.”

3. Duties and Authority of Executive.

     (a) Responsibilities. During the Term, Executive will be employed by CAM as its chief executive and will
additionally serve in the capacity of President and Chief Executive Officer of CAI. Executive’s
duties and responsibilities will primarily consist of the performance of executive management and
administrative services for CAM, which, among other things, provides management and administrative
services to CAI and its affiliated companies. Executive’s duties and responsibilities will also
include those described for the President and Chief Executive Officer in the CAI By-Laws or other
formal documents of CAI, as such documents may be amended from time to time. Executive’s duties
and responsibilities will also include such other or additional duties as may from time to time be
assigned to Executive by the Board or any duly authorized committee thereof, provided such other or
additional duties are consistent with the position of CAM’s chief executive and with the duties of
the President and Chief Executive Officer of CAI. Executive will obey the lawful directions of the
Board and any duly authorized committee thereof, and will use Executive’s best efforts to promote
the interests of Cash America and to maintain and to promote the reputation thereof.

     (b) Standards. While employed hereunder, Executive will devote Executive’s full time, efforts, skills and
attention to the affairs of Cash America and its affiliated companies in order that Executive will
faithfully perform Executive’s duties and obligations hereunder. Executive will fulfill
Executive’s duties and responsibilities as described in this section in a reasonable and
appropriate manner in light of the policies and practices of Cash America and its affiliated
companies and applicable laws and regulations. Executive will use Executive’s best efforts to
preserve the business of Cash America and its affiliated companies, to keep available to Cash
America and its affiliated companies the services of present, desired employees, and to preserve
the business relations of Cash America and its affiliated companies with suppliers, distributors,
customers and others. Executive will observe and fulfill proper standards of fiduciary
responsibility attendant upon Executive’s service and office.

     (c) Avoidance of Conflicts. During the Term, Executive will not engage in any outside business or other activity
detrimental to, or competitive with, the interests of Cash America or any of its affiliated
companies, but otherwise may (i) engage in other businesses or activities, (ii) make personal,
passive investments of Executive’s own funds, (iii) participate in customary civic and charitable
activities, and (iv) serve on the boards of directors of other public or private companies.
Notwithstanding the foregoing, Executive may not have any financial interest in any competitor of
Cash America or its affiliated companies; provided, Executive may have such investments in
Executive’s personal investment portfolio as long as Executive is the registered owner of less than
2 percent of the outstanding stock or securities of any such

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competitor of Cash America or its
affiliated companies, and such stock or securities are registered and publicly traded on a national
stock exchange of any country.

     (d) Location. The parties agree that during the Term, Executive will be based in Fort Worth, Texas, and
may only be reassigned to another location that is mutually acceptable to Cash America and
Executive.

4. Compensation and Benefits. Subject to the terms of this Agreement, Cash America will pay Executive, and Executive
accepts as full compensation for all services to be rendered to Cash America pursuant to this
Agreement, the compensation and benefits described below in this section.

     (a) Annual Base Salary. Executive’s initial base salary as of the Effective Date will be $700,000.00 per year
(“Annual Base Salary”), payable in accordance with Cash America’s standard payroll practices and
policies for senior executive officers, subject to such withholdings as required by law or as
otherwise permissible under such practices or policies of Cash America. The Compensation Committee
will review Executive’s Annual Base Salary at least annually with respect to each Contract Year,
with a view to ascertaining the adequacy thereof, and the Compensation Committee may increase (but
not decrease) Executive’s Annual Base Salary from time to time by an amount that, in the opinion of
the Compensation Committee, is justified by Executive’s performance.

     (b) Bonuses and Other Incentive Compensation. As long as this Agreement is in effect, Cash America will maintain an Executive
Compensation Program, and Executive will be eligible to participate therein, all in accordance with
Cash America’s regular practices with respect to its senior executive officers. In addition,
Executive will be eligible to receive any other cash bonuses under the CAI Senior Executive Bonus
Plan and other incentive or other compensation plans or arrangements, as may be determined by the
Compensation Committee from time to time for other senior executive officers and/or specifically
for Executive.

     (c) Equity Compensation. Executive will be eligible to receive stock options, restricted stock, restricted stock
units and other equity compensation, as may be determined by the Compensation Committee from time
to time for other senior executive officers and/or specifically for Executive.

     (d) Employee Benefit Plans. Executive will be eligible to participate in the employee benefit plans, programs and
policies (including any executive healthcare plan, executive life insurance program, and CAI’s
Non-Qualified Savings and 401(k) plans) that are maintained by Cash America and that cover senior
executive officers, all in accordance with the terms and conditions of such plans, programs and
policies as in effect from time to time. In addition to the life insurance plan available to all
executives of CAI generally, Cash America will pay all premiums on additional term life insurance
coverage on Executive’s life with a death benefit of $2,000,000.00.

     (e) Disability. If Executive becomes Disabled (as defined below) before the end of the Term, Cash America
will pay Executive an amount equal to Executive’s Annual Base Salary (at the rate of Executive’s
Annual Base Salary in effect at the time Executive becomes Disabled and at the frequency and timing
applicable from time to time under Cash America’s standard

3

 

payroll practices and policies for
salary payments to senior executive officers who continue in employment) for the 1-year period
commencing at the time Executive becomes Disabled.

     (f) Death Benefits. If Executive dies before the end of the Term, Cash America will pay Executive’s beneficiary
that he designates in a writing delivered to Cash America (or, if no such beneficiary survives him,
Executive’s estate) an amount equal to Executive’s Annual Base Salary (at the rate of Executive’s
Annual Base Salary in effect at the time of Executive’s death and at the frequency and timing
applicable from time to time under Cash America’s standard payroll practices and policies for
salary payments to senior executive officers who continue in employment) for the 1-year period
commencing on the date of Executive’s death.

     (g) Vacations and Holidays. Executive will be entitled to vacation (a minimum of 4 weeks per year), other paid or
unpaid time off, leaves of absence and holidays, as may be provided in accordance with Cash
America’s policies for senior executive officers or as Cash America otherwise may approve.

     (h) Business Expenses. Executive will have a right to be promptly reimbursed for Executive’s reasonable and
appropriate business expenses which Executive actually incurs in connection with the performance of
Executive’s duties and responsibilities under this Agreement in accordance with Cash America’s
expense reimbursement policies and procedures applicable to its senior executive officers. In any
event, expense reimbursements hereunder will be paid within 30 days after Executive submits
evidence of such reimbursable expense(s) to Cash
America, and in no event will any such reimbursement be paid later than the last day of the
calendar year immediately following the calendar year in which the expense was incurred. The
amount of such reimbursements during any calendar year will not affect the reimbursements provided
in any other calendar year, and the right to any such amounts shall not be subject to liquidation
or exchange for another benefit.

5. Termination. Executive’s employment with Cash America may be terminated as follows:

     (a) Voluntary Termination Without Good Reason. Executive may voluntarily terminate Executive’s employment hereunder without Good Reason (as
defined below) at any time during the Term, effective as of the end of the 60-day period beginning
on the date Executive provides Cash America with a signed, written notice of Executive’s
termination; provided, in its sole discretion (i) Cash America may accept such resignation
effective as of an earlier date and pay Executive in lieu of waiting for passage of the 60-day
notice period, or (ii) during all or any part of the 60-day notice period, Cash America may retain
Executive as an employee of CAM but modify, reduce or eliminate Executive’s duties hereunder. Any
such amount that is payable for the period after the date of Executive’s actual termination of
employment (his “Actual Termination Date”) will be paid in a timely manner in accordance with Cash
America’s normal payroll practices and policies for senior executive officers; provided, to the
extent any amount payable for the period after Executive’s Actual Termination Date is not exempt
from Code Section 409A (as defined in Section 12(g) below), such amount will be paid on the day
following the 6-month anniversary of Executive’s Separation from Service (as defined below). If
Executive voluntarily terminates Executive’s employment hereunder without Good Reason, Cash America
will pay to Executive only (x) Executive’s Annual Base Salary earned through the date of
termination, (y) all bonuses earned and vested under Section 4(b) on

4

 

or before the date of
termination, and (z) to the extent provided under the terms of any benefit plan or this Agreement,
the vested portion of any benefit under such plan or this Agreement earned through the date of
termination. Executive’s right to exercise stock options and Executive’s rights in other equity
arrangements, if any, will remain governed by the terms and conditions of the appropriate equity
plan and the underlying award agreements.

     (b) Voluntary Termination With Good Reason.

     (i) Termination. Executive may voluntarily terminate Executive’s employment hereunder with Good
Reason (as defined below) at any time during the Term, effective as of the end of the 30-day
period beginning on the date Executive provides Cash America with a signed, written notice
of Executive’s termination; provided, in its sole discretion (A) Cash America may accept
such resignation effective as of an earlier date and pay Executive in lieu of waiting for
passage of the 30-day notice period, or (B) during all or any part of the 30-day notice
period, Cash America may retain Executive as an employee of CAM but modify, reduce or
eliminate Executive’s duties hereunder.

     (ii) “Good Reason”. For purposes of this Agreement, the phrase “Good Reason” means any of the following
conditions, which remains uncured after the expiration of 30 days following the delivery of
written notice of such condition to Cash America by Executive, with respect to which
Executive terminates employment within 24 months after the initial existence of the
condition, to the extent there is a material negative change in Executive’s employment
relationship with CAM (or any successor affiliated employer) or the terms of Executive’s
relationship with CAI (or any successor affiliated company): (A) a material breach of the
terms of this Agreement by Cash America; (B) Cash America demoting Executive to a position
of lower status than “President and Chief Executive Officer” of CAI; (C) Cash America
materially reducing Executive’s rate of Annual Base Salary below the level in effect
immediately before such reduction; (D) Cash America materially reducing the level of
employee benefits and perquisites below the level provided for by the terms of Sections 4(b)
through (h) (including, without limitation, in the case of Sections 4(b) and 4(c) above,
reducing the levels of Executive’s incentive compensation opportunities covered by such
Sections (4(b) and 4(c) above to incentive compensation levels and opportunities that are
materially and adversely below the general incentive compensation levels and opportunities
consistently granted by Cash America to its executives over time), other than as a result of
an amendment or termination that is applicable to all Cash America senior executive
officers; or (E) a relocation of Executive’s principal office from Fort Worth, Texas,
without Executive’s consent.

     (iii) Termination Pay and Benefits. If Executive voluntarily terminates Executive’s employment hereunder with Good
Reason before the end of the Term, Executive will be entitled to receive the following
compensation and benefits:

     (A) An amount equal to the total of (i) the amount of Executive’s Annual Base
Salary (at the rate of Annual Base Salary in effect before the event giving rise to
Good Reason) for the remainder (if any) of the Contract Year during
which Executive’s termination is effective, and (ii) an amount equal to 7/36ths
of

5

 

Executive’s Continued Compensation (as defined below). Such total amount will be
payable to Executive in a lump sum on the first day of the 7th full
calendar month immediately following the date of Executive’s Separation from
Service;

     (B) An amount equal to 29/36ths of Executive’s Continued Compensation, with
such amount to be payable on a prorata basis over a 29 month period beginning on the
first day of the 8th full calendar month immediately following the date
of Executive’s Separation from Service, with such prorata payments to be made at the
frequency and timing applicable from time to time under Cash America’s standard
payroll practices and policies for salary payments to active senior executive
officers;

     (C) All other amounts and benefits to which Executive may be entitled as of the
termination date under Cash America’s employee and/or executive benefit plans and
arrangements generally, determined in accordance with the terms and conditions of
such plans and arrangements; and

     (D) Executive’s right to exercise stock options and Executive’s rights in other
equity arrangements, if any, will remain governed by the terms and conditions of the
appropriate equity plan and the underlying award agreements.

For purposes of this Agreement, “Continued Compensation” means the product of three times the sum
of (i) the amount of Executive’s Annual Base Salary (at the rate of Annual Base Salary in effect
immediately before Executive’s termination of employment or, if earlier, the occurrence of any
event that could have been a Good Reason event), plus (ii) the average annual cash bonuses or other
cash incentive compensation Cash America paid or made payable to Executive under Section 4(b) for
the 3 calendar years immediately preceding the year in which Executive’s employment terminates.

Notwithstanding the foregoing, Cash America’s obligation to pay the amounts described in
subsections (A) and (B) hereof is expressly conditioned on both (i) Executive’s compliance, and
continuing compliance, with the terms of the restrictive covenants set forth in Sections 7, 8, 9,
and 10, and (ii) Executive entering into, and not revoking (and the expiration of any time period
during which revocation is permitted), on or before the date on which any such payment is to be
made, a release in favor of Cash America and its affiliates, in such form and terms as Cash America
may reasonably determine.

     (c) Termination Without Just Cause.

     (i) Termination. Cash America, in its sole discretion, may terminate Executive’s employment hereunder
without Just Cause (as defined below), at any time by giving Executive 30 days’ prior
written notice of Cash America’s intent to terminate Executive’s employment as of a
specified date; provided, during all or any part of the remaining
Term, Cash America, in its sole discretion, may modify, reduce or eliminate Executive’s
duties hereunder.

     (ii) Termination Pay and Benefits. If Cash America (x) terminates Executive’s employment hereunder without Just Cause
before the end of the Term, or

6

 

(y) does not extend the Term (whether following the Initial
Term or any successive Contract Year that is part of the Term), Executive will be entitled
to receive the following compensation and benefits:

     (A) An amount equal to the total of (i) the amount of Executive’s Annual Base
Salary (at the rate of Annual Base Salary in effect immediately before Executive’s
termination of employment or, if earlier, the occurrence of any event that could
have been a Good Reason event) for the remainder (if any) of the Contract Year
during which Executive’s termination is effective, and (ii) an amount equal to
7/36ths of Executive’s Continued Compensation. Such total amount will be payable to
Executive in a lump sum on the first day of the 7th full calendar month
immediately following the date of Executive’s Separation from Service;

     (B) An amount equal to 29/36ths of Executive’s Continued Compensation, with
such amount to be payable on a prorata basis over a 29 month period beginning on the
first day of the 8th full calendar month immediately following the date
of Executive’s Separation from Service, with such prorata payments to be made at the
frequency and timing applicable from time to time under Cash America’s standard
payroll practices and policies for salary payments to active senior executive
officers;

     (C) All other amounts and benefits to which Executive may be entitled as of the
termination date under Cash America’s employee and/or executive benefit plans and
arrangements generally, determined in accordance with the terms and conditions of
such plans and arrangements; and

     (D) Executive’s right to exercise stock options and Executive’s rights in other
equity arrangements, if any, will remain governed by the terms and conditions of the
appropriate equity plan and the underlying award agreements.

Notwithstanding the foregoing, Cash America’s obligation to pay the amounts described in
subsections (A) and (B) hereof is expressly conditioned on both (i) Executive’s compliance and
continuing compliance with the terms of the restrictive covenants set forth in Sections 7, 8, 9 and
10, and (ii) Executive entering into, and not revoking (and the expiration of any time period
during which revocation is permitted), on or before the date on which any such payment is to be
made, a release in favor of Cash America and its affiliates, in such form and terms as Cash America
may reasonably determine.

     (d) Termination With Just Cause.

     (i) Termination. Cash America may immediately terminate Executive’s employment hereunder for Just
Cause (as defined below) at any time upon delivery of written notice to Executive.

     (ii) “Just Cause”. For purposes of this Agreement, the phrase “Just Cause” means that, in the sole
discretion of the Board, any of the following have occurred or exist: (A) Executive’s fraud,
gross malfeasance, gross negligence, or willful misconduct,

7

 

with respect to Cash America’s
business affairs; (B) Executive’s refusal or repeated failure to follow Cash America’s
established reasonable and lawful policies; (C) Executive’s breach of this Agreement; (D)
Executive’s conviction of a felony involving moral turpitude; (E) any intentional
misapplication by Executive of Cash America’s funds, or any material act of dishonesty
committed by Executive; or (F) Executive’s unlawful use or possession of any controlled
substance or Executive’s abuse of alcoholic beverages. A termination of Executive for Just
Cause based on clause (A), (B) or (C) of the preceding sentence will take effect 30 days
after Executive receives from Cash America written notice of its intent to terminate
Executive’s employment and Cash America’s description of the alleged cause, unless
Executive, in the opinion of the Board, during such 30-day period, makes significant
progress toward remedying (and as soon as practicable thereafter, substantially completes
the remedy of) the events or circumstances constituting Just Cause; a termination of
Executive for Just Cause based on clause (D), (E) or (F) of the preceding sentence will take
effect immediately.

     (iii) Termination Pay and Benefits. If Executive’s employment hereunder is terminated by Cash America for Just Cause,
Cash America will be required to pay to Executive only (A) Executive’s Annual Base Salary
earned through the date of termination, (B) all bonuses earned and vested under Section 4(b)
on or before the date of termination, and (C) to the extent provided under the terms of any
benefit plan or this Agreement, the vested portion of any benefit under such plan or this
Agreement earned through the date of termination. Executive’s right to exercise stock
options and Executive’s rights in other equity arrangements, if any, will remain governed by
the terms and conditions of the appropriate equity plan and the underlying award agreements.

     (e) Termination Due to Death or Disability.

     (i) Death. Executive’s employment with Cash America will end upon Executive’s death.

     (ii) Disability. If Executive becomes Disabled, Cash America may terminate Executive’s employment
under this Agreement upon giving Executive or Executive’s legal representative written
notice at least 30 days before the termination date. Executive agrees that he will submit
to examinations by such practicing medical doctors selected by the Board upon receipt of
written request from the Board to do so. For purposes of this Agreement, “Disabled” means
that Executive has become eligible for disability benefits under any Cash America plan or
program providing long-term disability benefits to its executives or employees.

     (iii) Termination Pay and Benefits. If Executive’s employment hereunder is terminated due to Executive’s death or
disability (as described in this subsection), Cash America will pay to Executive only (A)
Executive’s Annual Base Salary earned through the date of termination, (B) all bonuses
earned and vested under Section 4(b) on or before the date of termination, (C) to the extent
provided under the terms of any benefit plan or this Agreement, the vested portion of any
benefit under such plan or this Agreement earned through the date of termination, and (D)
the amounts provided in Section 4(e) or 4(f), as applicable. Executive’s right to exercise
stock options and Executive’s rights in

8

 

other equity arrangements, if any, will remain
governed by the terms and conditions of the appropriate equity plan and the underlying award
agreements.

     (f) Definition of “Separation from Service”. The term “Separation from Service” when used in this Agreement means that Executive
separates from service with Cash America and all affiliates, as defined in Code Section 409A. As a
general overview of Code Section 409A’s definition of “separation from service,” an employee
separates from service if the employee has a termination of employment (other than for death) with
all affiliates, determined in accordance with the following:

     (i) Leaves of Absence. The employment relationship is treated as continuing intact while the employee is on
military leave, sick leave, or other bona fide leave of absence if the period of such leave
does not exceed 6 months, or, if longer, so long as the employee retains a right to
reemployment with an affiliate under an applicable statute or by contract. A leave of
absence constitutes a bona fide leave of absence only while there is a reasonable
expectation that the employee will return to perform services for an affiliate. If the
period of leave exceeds 6 months and the employee does not retain a right to reemployment
under an applicable statute or by contract, the employment relationship is deemed to
terminate on the first date immediately following such 6-month period. Notwithstanding the
foregoing, where a leave of absence is due to any medically determinable physical or mental
impairment that can be expected to result in death or can
be expected to last for a continuous period of not less than 6 months, where such
impairment causes the employee to be unable to perform the duties of Executive’s normal
duties or duties substantially similar to the duties being performed by Executive
immediately prior to the occurrence of the event giving rise to the leave of absence, a
29-month period of absence shall be substituted for such 6-month period.

     (ii) Status Change. Generally, if an employee performs services both as an employee and an independent
contractor, the employee must separate from service both as an employee and as an
independent contractor pursuant to standards set forth in Treasury Regulations to be treated
as having a separation from service. However, if an employee provides services to an
employer or its affiliates as an employee and as a member of the Board, the services
provided as a director are not taken into account in determining whether the employee has a
separation from service as an employee for purposes of this Agreement.

     (iii) Termination of Employment. Whether a termination of employment has occurred is determined based on whether the
facts and circumstances indicate that the employer and the employee reasonably anticipate
that (A) no further services will be performed after a certain date, or (B) the level of
bona fide services the employee will perform after such date (whether as an employee or as
an independent contractor) will permanently decrease to less than 50 percent of the average
level of bona fide services performed (whether as an employee or an independent contractor)
over the immediately preceding 36-month period. Facts and circumstances to be considered in
making this determination include, but are not limited to, whether the employee continues to
be treated as an employee for other purposes (such as continuation of salary and
participation in employee benefit programs), whether similarly-situated employees have been
treated consistently, and whether the employee is permitted, and realistically

9

 

available, to
perform services for other employers in the same line of business. For periods during which
an employee is on a paid bona fide leave of absence and has not otherwise terminated
employment as described in subparagraph (i) above, for purposes of this subparagraph, the
employee is treated as providing bona fide services at a level equal to the level of
services that the employee would have been required to perform to receive the compensation
paid with respect to such leave of absence. Periods during which an employee is on an
unpaid bona fide leave of absence and has not otherwise terminated employment are
disregarded for purposes of this subsection (including for purposes of determining the
applicable 36-month period).

6. Change in Control.

     (a) Payments and Benefits Upon a Termination After a Change in Control. Notwithstanding anything to the contrary otherwise provided in this Agreement, if a Change
in Control (as defined below) occurs and within 12 months after the date of such Change in Control,
(i) Executive voluntarily terminates Executive’s employment under this Agreement by giving written
notice to Cash America pursuant to the terms of Section 5(a) or 5(b), (ii) the Term (whether the
Initial Term or any successive Contract Year that is part of the Term) is to expire and Cash
America allows it to do so by not extending the Term as permitted in Section 2, or (iii) Cash
America terminates Executive’s employment under this Agreement without Just Cause pursuant to the
terms of Section 5(c), then, even though Executive is no longer employed by Cash America, Cash
America will pay to Executive and provide Executive with the following:

     (i) Current Salary and Other Amounts Due. A lump-sum amount equal to Executive’s unpaid Annual Base Salary, bonuses,
unreimbursed business expenses and other items, earned by and owed to Executive through and
including the date of termination.

     (ii) Target Bonus for Current Year. A lump-sum amount equal to Executive’s annual target bonus amount(s) established
under the annual bonus plan(s) in which Executive is then participating for the bonus plan
year in which Executive’s date of termination occurs, multiplied by a fraction, the
numerator of which is the number of full completed months in the bonus plan year in which
the date of termination occurs from the first day of that year through the date of
termination, and the denominator of which is 12. If, however, Executive is entitled to any
annual bonus payment(s) under the terms of the annual bonus plan(s) in which Executive is
participating for the bonus plan year in which the date of his termination occurs, Executive
will be entitled to a payment hereunder only to the extent the amount described in this
subsection (ii) exceeds the bonus(es) payable under the terms of such plan(s).

     (iii) Severance Based on Salary. A lump-sum amount equal to 3 multiplied by the higher of: (A) Executive’s rate of
Annual Base Salary in effect upon the date of termination, or (B) Executive’s rate of Annual
Base Salary in effect on the date of the Change in Control.

     (iv) Severance Based on Bonuses. A lump-sum amount equal to 3 multiplied by the higher of: (A) Executive’s annual
target bonus amount(s) established under the annual bonus plan(s) in which Executive is then
participating for the bonus plan year in

10

 

which Executive’s date of termination occurs, or
(B) the actual annual bonus payment amount(s) made to
Executive under the annual bonus plan(s) in which Executive participated in the bonus
plan year immediately preceding the bonus plan year in which the date of termination occurs.

     (v) Incentive Awards. An immediate vesting and cash-out of any and all outstanding cash-based long-term
incentive awards held by Executive, as granted to Executive by Cash America as a component
of Executive’s compensation under this Agreement. For performance-based long-term cash
incentive awards, the cash-out will be paid in a lump-sum amount equal to 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 pre-established performance period as of the date of termination, and the
denominator of which is the full number of months in the entire performance period. This
payment will be in lieu of any other payment to be made to Executive under these long-term
performance-based award plans.

     (vi) Equity Awards. 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 Executive, which
will otherwise be governed by the relevant plan document or award agreement. For
performance-based long-term equity incentive awards, the maximum amount available under such
awards shall vest.

     (vii) Continued Medical Coverage. Under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”),
Executive will have the opportunity to elect continuation coverage of (A) medical, vision
and dental benefits for himself, Executive’s spouse and/or eligible dependents to the extent
they are participating in Cash America’s plans for those benefits as of the date of
termination, and (B) the benefits under the executive top-up medical plan (if any) provided
at the date of the Change in Control. If elected in a timely manner, COBRA coverage
generally will end on the last day of the 18th month following the date of termination
(unless an earlier end date or an extension is required under COBRA). However, unless
Executive elects to end continuation coverage sooner or the COBRA continuation coverage
would end sooner under the COBRA rules for any reason other than the lapse of the 18-month
(or longer) COBRA period, Executive, Executive’s spouse and/or eligible dependents will
continue, for an aggregate period of 36 months from the date of termination, to receive the
same group health plan coverage for himself, Executive’s spouse and/or Executive’s eligible
dependents that would be available to him and them if they had been eligible for COBRA
continuation coverage for the entire 36-month period. The COBRA and extended coverage
provided under this subsection includes those benefits provided generally to all covered
executive level employees. The post-employment coverage described in this subsection will
end due to any reason COBRA continuation coverage ends or would have ended, other than the
lapse of the 18-month (or longer) COBRA coverage period (such as, for example, Executive
becoming covered under the group health plan of another employer or Executive’s dependents
losing their dependent status). The Executive’s cost for the post-employment coverage
described in this subsection will be subsidized as provided in subsection (b)(iii) hereof.

11

 

     (viii) Outplacement Services. For a period of up to 24 months following the termination date, Executive will be
entitled, at Cash America’s expense, to receive standard executive placement services from a
reputable executive search/placement firm of Executive’s selection; provided, Cash America’s
total obligation for such services will not exceed $50,000.

     (b) Timing of Payments and Benefits. The amounts payable pursuant to the terms of subsection (a) hereof will be paid at the
following times:

     (i) Current Salary and Other Amounts Due. The lump-sum amounts payable pursuant to the terms of subsections (a)(i) and (a)(ii)
will be paid no later than 30 days after Executive’s termination of employment.

     (ii) Other Lump-Sum Amounts. The other lump-sum amounts payable pursuant to the terms of subsections (a)(iii)
through (a)(v) will be paid on the day following the 6-month anniversary of Executive’s
Separation from Service.

     (iii) Group Health Plan Subsidy. If and to the extent Executive, Executive’s spouse and/or dependents timely elect
COBRA continuation coverage and coverage for the 36-month period described in subsection
(a)(vii) hereof, then while that coverage is in effect, Executive will only pay that portion
of the costs of such continuation coverage that active executive employees would pay for
similar coverage under Cash America’s plans during that period. Correspondingly, Cash
America will pay the difference between (A) the full costs for continuing participation in
such benefits under COBRA, and (B) the costs that similarly-situated active employees would
pay for similar coverage under Cash America’s plans.

     (c) Definition of “Change in Control”. For purposes of this Agreement, “Change in Control” means a change in ownership or
effective control of CAI or a change in the ownership of a substantial portion of the assets of
CAI, all within the meaning of Code Section 409A, except that 35% shall be substituted for 30% in
applying Treasury Regulations Section 1.409A-3(i)(5)(vi) and 50% shall be substituted for 40% in
applying Treasury Regulations Section 1.409A-3(i)(5)(vii). As a general overview, a Change in
Control shall occur on the date that any of the following events occurs:

     (i) Any one person, or more than one person acting as a group (as defined in Code
Section 409A), acquires ownership of stock of CAI that, together with all other CAI stock
held by such person or group constitutes more than 50 percent of the total voting power of
the stock of CAI. However, if any one person, or more than one person acting as a group, is
considered to own more than 50 percent of the total fair market value or total voting power
of the stock of CAI, the acquisition of additional stock by the same person or persons is
not considered to cause a change in the ownership of CAI or to cause a change in the
effective control of CAI.

     (ii) The date any one person, or more than one person acting as a group, acquires (or
has acquired, during the 12-month period ending on the date of the most recent acquisition
by such person or persons) ownership of stock of CAI possessing 35 percent or more of the
total voting power of the stock of CAI.

12

 

     (iii) The date that any one person, or more than one person acting as a group acquires
(or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or persons) assets from CAI that have a total gross fair market
value equal to or more than 50 percent of the total gross fair market value of all of the
assets of CAI immediately before such acquisition or acquisitions.

     (iv) The date a majority CAI’s board of directors is replaced during any 12-month
period by directors whose appointment or election is not endorsed by a majority of the
members of CAI board of directors before the date of the appointment or election.

     (d) Excess Parachute Payment Tax Gross Up. Notwithstanding any other provision of this
Agreement, if (i) there is a change in the ownership or effective control of Cash America or in the
ownership of a substantial portion of the assets of Cash America (within the meaning of Code
Section 280G(b)(2)(A)), and (ii) the payments and benefits otherwise to be made or provided
pursuant to Sections 6(a) and (b) and any other payments or benefits otherwise to be paid or
provided to Executive in the nature of compensation to be received by or for the benefit of
Executive and contingent upon such event (the “Termination Payments”) create an excess parachute
payment (within the meaning of Code Section 280G) that results in an excise tax payable by
Executive pursuant to the terms of Code Sections 280G and 4999 (the “Excise Tax”), then Cash
America will reimburse Executive, in cash, the full amount of the Excise Tax and all of the
Executive’s additional state and federal income, excise and employment taxes that arise on, and are
payable in respect of, this additional payment (cumulatively, the “Full Gross-Up Payment”), such
that Executive is in the same after-tax position as if he had not been subject to the Excise Tax.
The Full Gross-Up Payment will be made as soon as practicable after Executive pays the Excise Tax,
but in no event later than the last day of Executive’s taxable year that immediately follows
Executive’s taxable year in which he pays the Excise Tax. In the event the Internal Revenue
Service subsequently adjusts the Excise Tax computation herein described, Cash America will
reimburse Executive for the full amount necessary to make Executive whole on an after-tax basis
(less any amounts received by Executive that Executive would not have received had the computations
initially been computed as subsequently adjusted), including the value of any underpaid Excise Tax,
and any related interest and/or penalties due to the Internal Revenue Service; provided, in no
event shall such reimbursement(s) be paid to Executive later than the last day of Executive’s
taxable year that immediately follows Executive’s taxable year
in which he pays the Excise Tax; and, provided further, in the event of any notice of such
proposed adjustment from the Internal Revenue Service, Executive must give Cash America notice
thereof within 10 days of receiving such notice and, at Cash America’s expense, the opportunity to
object to and challenge such adjustment. Notwithstanding the foregoing, to the extent that any
reimbursement made pursuant to this subsection (d) relates to a Termination Payment that is paid
upon Executive’s Separation from Service, such reimbursement will be paid no earlier than the day
following the 6-month anniversary of Executive’s Separation from Service.

13

 

7. Confidential and Proprietary Information.

     (a) Access. Executive acknowledges that, prior to, and during the term of Executive’s employment
hereunder, he has been, and will be, privy to confidential and proprietary information of Cash
America.

     (b) Nondisclosure. Executive agrees to not disclose to any third party, without the prior written consent of
the Board or unless necessary to perform Executive’s duties and responsibilities hereunder, the
trade secrets, proprietary information, marketing strategies, business strategies, business plans,
pricing data, legal analyses, financial information, insurance information, customer lists,
customer information, creditor files, processes, policies, procedures, research, lists,
methodologies, specifications, software, software code, computer systems, software and hardware
architecture and specifications, customer information systems, point of sale systems, management
information systems, software design and development plans and materials, computer information
control and security plans and systems, intellectual property, contracts, business records,
technical expertise and know-how, and other confidential and proprietary information and trade
secrets of Cash America (collectively, the “Property”), which have been or will be provided to
Executive by Cash America and are confidential and proprietary property of Cash America. Executive
further agrees not to use any Property to Executive’s personal benefit or the benefit of any third
party. Executive also agrees to return to Cash America all such Property which is tangible upon
the termination of Executive’s employment hereunder. Notwithstanding the foregoing, the Property
protected hereunder will not include any data or information that has been disclosed to the public
(except where such public disclosure has been made by Executive without authorization), that has
been independently developed and disclosed by others, or that otherwise enters the public domain
through lawful means. The restrictions in this Section are in addition to, and not in lieu of, any
rights or remedies Cash America may have available pursuant to the laws of the State of Texas to
prevent the disclosure of trade secrets and proprietary information.

     (c) Nondisclosure Period. Executive’s obligations under the nondisclosure provisions in this Section 7 (i) will apply
to confidential information that does not constitute trade secrets during the term of
Executive’s employment hereunder and for a period of 36 months after the date such employment
terminates, and (ii) will apply to trade secrets until such Property no longer constitutes trade
secrets.

8. Non-Solicitation of Executives and Agents. Executive agrees that, for the 36 month period following the date Executive’s employment
terminates, Executive will not, directly or indirectly, solicit, recruit or induce any employee,
officer, agent or independent contractor of Cash America to terminate such party’s engagement with
Cash America so as to work for any person or business which competes with Cash America for talent;
provided, the restrictions set forth in this Section will only apply to employees, officers, agents
or independent contractors with whom Executive has business contact during the 36 month period
ending on the date Executive’s employment terminates.

9. Covenant Against Competition. Executive will not at any time during the Term, other than in performance of Executive’s
duties for Cash America, and for the 36 month period following the date Executive’s employment
terminates, on Executive’s own behalf, or on behalf of any other person or entity, compete with
Cash America by providing management or

14

 

consulting services, similar to those Executive provided to
Cash America with respect to any products or services similar to those offered or under development
by Cash America (“Cash America Products and Services”) anywhere within the Territory at any time
during the 12 month period ending on the day Executive’s employment terminates. For purposes of
this Agreement, the term “Territory” will mean any territory in which Cash America offers its
services or products at any time during the 12 month period ending on the day Executive’s
employment terminates.

10. Nonsolicitation of Customers and Clients. Executive will not at any time during Executive’s employment with Cash America, other than
in performance of Executive’s duties for Cash America, and for a period of 36 months after the day
Executive’s employment terminates, on Executive’s own behalf or on behalf of any other person or
entity, solicit, initiate contact, call upon, initiate communication with or attempt to initiate
communication with any customer or client of Cash America or any representative of any customer or
client of Cash America, with a view to providing Products and Services to such clients or
customers; provided, the restrictions set forth in this Section that are applicable after the end
of the Term will apply only to customers or clients of Cash America with whom Executive had contact
within the 36 month period ending on the day Executive’s employment terminates.

11. Enforcement of Restrictive Covenants.

     (a) Severability. Executive acknowledges and agrees that the non-competition and other restrictive covenants
contained herein (collectively, the “Covenants”) are reasonable and valid and do not impose
limitations greater than those that are necessary to protect the business
interests and confidential information of Cash America. Executive expressly agrees and
consents that, and represents and warrants to Cash America that, the Covenants will not prevent or
unreasonably restrict or interfere with Executive’s ability to make a fair living after the end of
the Term. The parties agree that the invalidity or unenforceability of any one or more of the
Covenants, or any part thereof, will not affect the validity or enforceability of the other
Covenants, all of which are inserted conditionally on their being valid in law. In case any one or
more of the Covenants contained in this Agreement shall be held to be invalid, illegal or
unenforceable in any respect for any reason, such invalidity, illegality or unenforceability shall
not affect any other provision hereof, and this Agreement shall be construed as if such invalid,
illegal or unenforceable Covenant had never been contained herein, and specifically, the parties
hereto agree that in the event any court of appropriate jurisdiction should determine that any
portion or provision of any Covenant is invalid, unenforceable or excessively restrictive, the
parties agree to request such court to rewrite such Covenant in order to make such Covenant legal,
enforceable and acceptable to such court to the maximum extent permissible under the law actually
applied to determine the validity, legality, enforceability or reasonableness of any such Covenant.
The parties agree that the Covenants contained in this Agreement are severable and divisible; that
none of such Covenants depends on any other Covenant for its enforceability; that such Covenants
constitute enforceable obligations between the parties; that each such Covenant will be construed
as an agreement independent of any other Covenant of this Agreement; and that the existence of any
claim or cause of action by one party to this Agreement against the other party to this Agreement,
whether predicated on this Agreement or otherwise, will not constitute a defense to the enforcement
by any party to this Agreement of any such Covenant.

15

 

     (b) Injunctive Relief. Executive hereby agrees that any remedy at law for any breach of the provisions contained
in Sections 7, 8, 9 or 10 will be inadequate and that Cash America will be entitled to apply for
injunctive relief in addition to any other remedy Cash America might have under this Agreement.

     (c) Claim for Damages. Executive acknowledges that, in addition to seeking injunctive relief, Cash America may
bring a cause of action against Executive for any and all losses, liabilities, damages,
deficiencies, costs (including, without limitation, court costs), and expenses (including, without
limitation, reasonable attorneys’ fees), incurred by Cash America and arising out of or due to any
breach of any covenant or agreement of Executive contained in Sections 7, 8, 9, or 10. In
addition, either party may bring an action against the other for breach of any other provision of
this Agreement.

     (d) Survival. Sections 7, 8, 9, 10 and this Section 11, to the extent applicable, will survive the
termination of the Term. In addition, the termination of this Agreement or the Term will not
terminate any other obligations or rights that, by the specific terms of this Agreement, extend
beyond such termination.

12. Miscellaneous.

     (a) Assignment. This Agreement is for the personal services of Executive, and the rights and obligations of
Executive under this Agreement are not assignable or delegable in whole or in part by Executive or
Cash America without the prior written consent of the other party.

     (b) Counterparts. This Agreement 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.

     (c) Headings; References. The headings and captions used in this Agreement are used for convenience only and are not
to be considered in construing or interpreting this Agreement. All references in this Agreement to
sections will, unless otherwise provided, refer to sections hereof.

     (d) Amendments and Waivers. Except as otherwise specified herein, this Agreement may be amended, and the observance of
any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of Cash America and Executive.

     (e) Policies, Procedures and Statements. Executive acknowledges that, from time to time, Cash America may establish, maintain and
distribute employee manuals or handbooks or personnel policy manuals, and officers or other
representatives of Cash America may make written or oral statements relating to personnel policies
and procedures. Such manuals, handbooks and statements are intended only for general guidance. No
policies, procedures or statements of any nature by or on behalf of Cash America (whether written
or oral, and whether or not contained in any employee manual or handbook or personnel policy
manual), and no acts or practices of any nature will be construed to modify this Agreement or to
create express or implied obligations of any nature on Executive.

16

 

     (f) Governing Law. The laws of the State of Texas will govern the interpretation, validity and effect of this
Agreement without regard to the place of execution or the place for performance thereof, and,
subject to the terms of Section 12(n) below, Cash America and Executive agree that the state and
federal courts situated in Tarrant County, Texas will have personal jurisdiction over Cash America
and Executive to hear all disputes arising under this Agreement. This Agreement is to be at least
partially performed in Tarrant County, Texas, and, as such, Cash America and Executive agree that
venue will be proper with the state or federal courts in Tarrant County, Texas to hear such
disputes. In the event either Cash America or Executive is not able to effect service of process
upon the other with respect to such disputes, Cash America and Executive expressly agree that the
Secretary of State for the State of Texas will be an agent of Cash
America and/or the Executive to receive service of process on behalf of Cash America and/or
the Executive with respect to such disputes.

     (g) Code Section 409A. This Agreement is intended to comply with the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended, and applicable regulations and guidance issued thereunder (“Code
Section 409A”). Each payment under this Agreement shall be treated as a separate payment for
purposes of Code Section 409A. Any payments or distributions to be made to Executive under this
Agreement upon a separation from service of amounts classified as “nonqualified deferred
compensation” for purposes of Code Section 409A, and not exempt from Code Section 409A, shall in no
event be made or commence until six (6) months after Executive’s Separation from Service. Where
this Agreement provides for a payment of nonqualified deferred compensation subject to Code Section
409A, the date or event upon which such payment is to be made hereunder will be the Code Section
409A “payment date,” but actual payment will be made no later than the latest date permitted under
Code Section 409A (generally, by the later of the end of the calendar year in which the payment
date occurs, or the 15th day of the third calendar month after the payment date occurs).
To the extent that any payments made or benefits provided pursuant to this Agreement are
reimbursements or in-kind payments, to the extent necessary to comply with Code Section 409A, the
amount of such payments or benefits during any calendar year shall not affect the amounts or
benefits provided in any other calendar year, the payment date shall in no event be later than the
last day of the calendar year immediately following the calendar year in which an expense was
incurred and the right to any such payments or benefits shall not be subject to liquidation or
exchange for another payment or benefit. To the extent that any amount payable to Executive by
Cash America or any Cash America plan would be subject to the additional 20% tax imposed under Code
Section 409A, the parties will negotiate in good faith an alternative arrangement that will comply
with the requirements of that section.

     (h) No Third-Party Beneficiaries. Nothing herein, expressed or implied, is intended or will be construed to confer upon or
give to any person, firm, corporation or legal entity, other than the parties hereto, any rights,
remedies or other benefits under, or by reason of, this Agreement.

17

 

     (i) Notices. All notices, communications and deliveries hereunder must be made in writing signed by or
on behalf of the party making the same and must be delivered personally or sent by certified mail
(return receipt requested) or by any national overnight courier service (with postage and other
fees prepaid) as follows:

	 	 	 
	(i)

	 	To Executive:
	 
	 	 
	 

	 	Daniel R. Feehan
	 

	 	1707 Catalina Court
	 

	 	Fort Worth, Texas 76107
	 
	 	 
	(ii)

	 	To Cash America:
	 
	 	 
	 

	 	Cash America International, Inc.
	 

	 	1600 West 7th Street
	 

	 	Fort Worth, Texas 76102
	 

	 	Attention: General Counsel

or to such other representative or at such other address of a party as such party hereto may
furnish to the other parties in writing. Any such notice, communication or delivery will be deemed
given or made (i) on the date of delivery if delivered in person (by courier service or otherwise),
or (ii) on the third business day after it is mailed by certified mail.

     (j) Binding Effect. This Agreement will be for the benefit of, and will be binding upon, Cash America and
Executive and their respective heirs, personal representatives, legal representatives, successors
and assigns.

     (k) Prior Agreements. This Agreement supersedes the 2004 Agreement and all prior agreements among the parties
with respect to the employment, compensation and benefits of Executive and no party hereto shall
have any further rights or obligations under the 2004 Agreement.

     (l) Severability. Without limiting the provisions of Section 11(a) above, if any provision of this Agreement
is held to be illegal, invalid or unenforceable under present or future laws, such provision shall
be fully severable and this Agreement shall be construed and enforced as if such illegal, invalid
or unenforceable provision is not a part hereof, and the remaining provisions hereof shall remain
in full force and effect; and in lieu of any illegal, invalid or unenforceable provision herein,
there shall be added automatically as a part of this Agreement, a provision as similar in its terms
to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and
enforceable.

     (m) Costs of Enforcement. If any party hereto brings an action to enforce the provisions of this Agreement, the
prevailing party in such action may recover its reasonable attorneys’ fees and costs, through and
including any and all appeals, from the other party. Any such reimbursement payment must be made
as soon as possible but in any event by the end of the calendar year following the calendar year in
which such fees and costs were incurred. The amount of such reimbursements during any calendar
year will not affect the reimbursements

18

 

provided in any other calendar year, and the right to any
such amounts shall not be subject to liquidation or exchange for another benefit.

     (n) Arbitration. The parties hereto agree that any and all disputes between them, and any claim or
controversy arising out of, or related to this Agreement, the breach hereof or the making,
performance, or interpretation thereof, shall be finally settled solely and exclusively by
arbitration in accordance with the National Rules for the Resolution of Employment Disputes of the
American Arbitration Association (“AAA”) or any successor organization arbitration procedures then
in effect. The place of arbitration shall be Fort Worth, Texas, and the laws applicable to the
arbitration procedure shall be the laws of the State of Texas. The procedure for selecting the
arbitrator(s) will be as prescribed by the AAA or its successor; provided, however, that if the AAA
or a successor is not in existence or does not provide such a procedure, then Cash America and
Executive will each select one arbitrator and said arbitrators will select a third. The cost of
arbitration shall be taxed and borne as provided by the AAA. The award of the arbitrator(s) shall
be the sole and exclusive remedy between the parties regarding any claims, counterclaims, issues,
or accountings presented or pled to the arbitrator(s); shall be made and shall promptly be payable
free of any tax, deduction, or offset; and any costs, fees, or taxes incident to enforcing the
award shall, to the maximum extent permitted by law, be charged against the party resisting such
enforcement. Judgment upon the award of the arbitrator(s) may be entered in the court having
jurisdiction thereof, or application may be made to such court for a judicial acceptance of the
award or for an order of enforcement. Nothing herein contained shall bar the right of either party
to obtain injunctive relief against threatened conduct that will cause loss or damages under the
usual equity rules, including the applicable rules for obtaining preliminary injunctions; provided,
however, that such relief must be sought only from a court of competent jurisdiction that is
located within Tarrant County, Texas.

            DRF       /
          JHG       . By placing their respective initials here, Executive
and Cash America’s duly authorized representative expressly acknowledge that each party fully
understands and accept the foregoing commitment to arbitrate disputes.

THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.

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     IN WITNESS WHEREOF, the parties have executed this Agreement on this the 1st day of
May, 2008.

	 	 	 	 	 	 	 	 	 
	EXECUTIVE	 	 	 	CASH AMERICA INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Daniel R. Feehan

	 	 	 	By:
	 	/s/ James H. Graves	 	 
	 

	 	 	 	 	 	 	 	 
	Daniel R. Feehan

	 	 	 	 	 	James H. Graves,	 	 
	 

	 	 	 	 	 	Chairman of the Management
Development & Compensation
Committee of the Board of Directors	 	 

	 	 	 	 	 
	 	CASH AMERICA MANAGEMENT L.P.

 	 
	 	By:  	Cash America Holding, Inc.,
 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                        Cash America International, Inc.,
 	 
	 	 	its sole shareholder 	 

	 	 	 	 	 
	 	By:  	/s/ James H. Graves
 	 
	 	 	James H. Graves,     Chairman of the 	 
	 	 	Management Development & Compensation
Committee of the Board of Directors 	 
	 

20

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