Re: Modification to Change of Control AgreementProtective Covenant Agreement • February 16th, 2012 • Advance America, Cash Advance Centers, Inc. • Personal credit institutions • Delaware
This Modification to Change of Control Agreement (“Agreement”) amends your Change of Control Agreement with the Company, dated and effective as of May 23, 2011 (the “Change of Control Agreement”), pursuant to Section 15(a) of the Change of Control Agreement, to become effective upon the consummation of the Merger. Capitalized terms used in this Agreement and not otherwise defined shall have the respective meanings assigned to them in the Change of Control Agreement. Absent this Agreement, the consummation of the transactions contemplated by the Merger Agreement would provide you Good Reason to terminate employment. In order to provide you with appropriate incentives to remain with the combined company following the Merger, to provide the Company with certain covenants regarding your conduct during and following your employment and to otherwise meet the Company’s needs, the Parties have determined to enter into this Agreement.
