Document:

KALU Exhibit 10.2 - 6.30.2013 - 10-Q

Exhibit 10.2

COMPENSATION OF DIRECTORS 

Effective as of June 4, 2013

     Each non-employee director of Kaiser Aluminum Corporation (the “Company”) shall receive: 

		
	•
	an annual retainer of $45,000 per year;

		
	•
	an annual grant of restricted stock having a value equal to $95,000;

		
	•
	a fee of $1,500 per day for each meeting of the Board of Directors (the “Board”) attended in person and $750 per day for each such meeting attended by phone; and

		
	•
	a fee of $1,500 per day for each committee meeting of the board of directors attended in person ($2,000 per day for each such audit committee meeting) and $750 per day for each such meeting attended by phone ($1,000 per day for each such audit committee meeting).

In addition, the Lead Independent Director shall receive an additional annual retainer of $10,000, the Chairman of the Audit Committee of the Board shall receive an additional annual retainer of $15,000, the Chairman of the Compensation Committee of the Board shall receive an additional annual retainer of $5,000 and the Chairman of the Nominating and Corporate Governance Committee of the Board shall receive an additional annual retainer of $5,000, with all such amounts payable at the same time as the annual retainer. Each non-employee director may elect to receive shares of common stock, par value $0.01 per share, of the Company in lieu of any or all of his or her annual retainer, including any additional annual retainer for service as the Lead Independent Director or the Chairman of a committee. 

     The payment of annual retainers (including any additional annual retainers) and the annual grant of restricted stock shall be made each year on the date on which the Company holds its annual meeting of stockholders or such other date as the Board may determine. The number of shares of common stock to be received in the grant of restricted stock, as well as the number of shares of common stock to be received by any non-employee director electing to receive common stock in lieu of any or all of his or her payment of annual retainer (including any additional annual retainer), shall be based on the closing price per share of common stock on the date such grant and payments are made. 

     The Company shall reimburse all directors for travel and other disbursements relating to meetings of the Board and committees thereof, and non-employee directors shall be provided accident insurance with respect to Company-related business travel.FCFS 06.30.2013 Exhibit 10.2

EXHIBIT 10.2

AMENDMENT NO. 2 TO FIRST AMENDED AND RESTATED 
EXECUTIVE EMPLOYMENT AGREEMENT OF RICK L. WESSEL

This is the Second Amendment (“Second Amendment”) to the First Amended and Restated Executive Employment Agreement of Rick L. Wessel originally entered into as of October 16, 2007, as amended with Amendment No. 1 dated January 1, 2010, (the "Agreement"), by and between First Cash Financial Services, Inc. (the “Company”), a Delaware corporation, and Rick L. Wessel (the "Executive").  This Second Amendment shall apply prospectively and is effective as of July 23, 2013.      

WHEREAS, Executive is presently serving the Company as an employee pursuant to the Agreement between the parties (said Agreement including all previous amendments and/or addenda, if any), and the parties desire to modify the Agreement as set forth below.

NOW, THEREFORE, in consideration of the mutual covenants and obligations hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

		
	1.
	In paragraph 4 of the Agreement, replace the term “December 31, 2015” with “December 31, 2018.”

		
	2.
	In paragraph 7(a) of the Agreement, replace the content of section (iii) with the following:  “(iii) be payable at the annual rate of $963,040 beginning January 1, 2013.”

		
	3.
	Except as modified herein, the remainder of the Agreement shall remain unchanged.  

EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS FIRST AMENDMENT WITH HIS PRIVATE LEGAL COUNSEL AND HAS AVAILED HIMSELF OF THAT OPPORTUNITY.

	
				
	FIRST CASH FINANCIAL SERVICES, INC.
	EXECUTIVE

	 
	 

	By:
	 
	 
	 

	 
	Mikel D. Faulkner
	Rick L. Wessel

	 
	Chairman of the Compensation CommitteeFCFS 06.30.2013 Exhibit 10.3

EXHIBIT 10.3

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT OF R. DOUGLAS ORR

This is the First Amendment (“First Amendment”) to the Employment Agreement of R. Douglas Orr entered into as of April 30, 2010 (the "Agreement"), by and between First Cash Financial Services, Inc. (the “Company”), a Delaware corporation, and R. Douglas Orr (the "Executive").  This First Amendment shall apply prospectively and is effective as of July 23, 2013.      

WHEREAS, Executive is presently serving the Company as an employee pursuant to the Agreement between the parties and the parties desire to modify the Agreement as set forth below.

NOW, THEREFORE, in consideration of the mutual covenants and obligations hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

		
	1.
	In paragraph 3 of the Agreement, replace the term “December 31, 2013” with “December 31, 2016.”

		
	2.
	In paragraph 4(a) of the Agreement, replace the section “minimum annual base salary of four hundred thousand dollars ($400,000.00)” with the following: “minimum annual base salary of four hundred fifty four thousand four hundred eighty dollars ($454,480.00) beginning January 1, 2013.”

		
	3.
	Except as modified herein, the remainder of the Agreement shall remain unchanged.  

EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS FIRST AMENDMENT WITH HIS PRIVATE LEGAL COUNSEL AND HAS AVAILED HIMSELF OF THAT OPPORTUNITY.

	
				
	FIRST CASH FINANCIAL SERVICES, INC.
	EXECUTIVE

	 
	 

	By:
	 
	 
	 

	 
	Rick L. Wessel
	R. Douglas Orr

	 
	Chairman of the BoardBIIB-2013.6.30-EX10.1

Exhibit 10.1

May 7, 2013

Alfred Sandrock

Dear Al:

In my letter to you dated April 16, 2013, I invited you to become a member of the G8, effective May 15, at which time you would become an Executive Officer of Biogen Idec.

Upon consideration I would like to change the effective date of your membership.  Accordingly, I invite you to become a member of the G8, effective June 3, 2013, on which date you will become an Executive Officer of the Company and thereby subject to all disclosure requirements related to Executive Officer status.

To confirm your acknowledgement of this new effective date, please sign and return this letter and keep a copy for your records.

Sincerely,

/s/ George Scangos

Acknowledged and agreed:

	
		
	/s/ Alfred Sandrock
	5/10/2013

	Alfred Sandrock
	Signature Date

CC: K. DiPietro
       D. Rhoades

April 16, 2013

Alfred Sandrock

Dear Al:

I am delighted that you have decided to remain with Biogen Idec, and am pleased to extend to you the promotion offer detailed on the attached term sheet.  Your promotion will be effective on the first payroll date following your acceptance of this offer.

Upon your acceptance of this offer I would also like to invite you to become a member of the G8, effective May 15, at which time you will become an Executive Officer of the company.  You will be subject to all disclosure requirements related to Executive Officer status.

Al, once again, we are all very excited by your decision, and look forward to a great future together.

To confirm your acceptance of this offer, please sign and return this letter and keep a copy for your records.

Sincerely,

/s/ George Scangos

George Scangos,
Chief Executive Officer

ACCEPTED:

	
		
	/s/ Alfred Sandrock
	4/16/2013

	Alfred Sandrock
	Signature Date

CC: K. DiPietro
       D. Rhodes

	
									
	Promotion & Retention Offer

	 
	 
	 
	 
	 
	 
	 
	 
	 

	Incumbent:
	 
	Sandrock, Al
	 
	 
	 
	 
	 
	 

	New Level
	 
	23
	 
	 
	 
	 
	 
	 

	New Bonus Target
	 
	50% of salary
	 
	 
	 
	 
	 
	 

	New Position
	 
	Group SVP, CMO
	 
	 
	 
	 
	 
	 

	Reports to
	 
	D. Williams, EVP R&D
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	Biogen Idec Annual Compensation
	 
	 
	 
	 

	 
	 
	Current 
Compensation
	 
	New 
Compensation
	 
	% Difference
(New vs. Current)
	 
	Comments

	Salary
	 
	$525,000
	 
	$550,000
	 
	5%
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	Target Bonus
	 
	 
	 
	 
	 
	 
	 
	 

	($)
	 
	$210,000
	 
	$500,000
	 
	138%
	 
	Min bonus guarantee each year

	(%)
	 
	40%
	 
	(guaranteed)
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	Target Cash
	 
	$735,000
	 
	$1,050,000
	 
	43%
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	LTI Grant Value
	 
	$776,250
	 
	$1,500,000
	 
	93%
	 
	Annual LTI guarantee each year

	 
	 
	 
	 
	(guaranteed)
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	Total Compensation
	 
	$1,511,250
	 
	$2,550,000
	 
	69%
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	BIIB Summary of Retention Elements
	 
	 
	 
	 
	 
	 

	Promotion to L23
	 
	New title of Group SVP, CMO

	 
	 
	50% bonus target with $500k guaranteed annual bonus minimum starting with the 2013 performance year

	Cash Retention Bonus 
	 
	$250k with no payback clause to be paid as soon as administratively feasible upon acceptance

	Annual LTI* 
	 
	$1.5m Guaranteed annual grant value, beginning with 2014 grant; Awards based on LTI plan design and 

	 
	 
	vehicles in place at the time of grant

	Special 1x LTI Grant*
	 
	$5m LTI grant value with 4 year graded vest starting 2016; To be granted at the same time as the 2014 LTI 

	 
	 
	annual award;  LTI grant value to be based on 50% MSUs and 50% RSUs

	*Note:  Guaranteed annual and special 1x LTI grants not subject to retirement provision in the 2008 Omnibus Plan

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