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Share Name | Share Symbol | Market | Type |
---|---|---|---|
QC Holdings Inc (PK) | USOTC:QCCO | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.3003 | 0.30 | 0.50 | 0.00 | 13:35:18 |
Kansas
|
000-50840
|
48-1209939
|
(State or other jurisdiction
of incorporation)
|
(Commission file
number)
|
(IRS Employer
Identification Number)
|
o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
|
o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
|
o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
|
o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
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●
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Employment of Mr. Early as Chairman of the Board of Directors, with primary focus on guiding the overall strategy and general direction of the company and maintaining industry relationships.
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Employment of Mrs. Early as Vice Chairman of the Board of Directors, with primary focus on guiding the overall strategy and general direction of the company and maintaining industry relationships, as well as strategic management of personnel and related policies in conjunction with the company's senior management.
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Initial employment terms of five years, subject to additional terms of five years on each August 1, commencing August 1, 2015.
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Guaranteed base salaries and minimum annual bonuses that are equal to the base salaries and annual bonuses that have been paid to Mr. Early and Mrs. Early for the past three years as described in the company’s Proxy Statement for the 2012 Annual Meeting of Shareholders. The Compensation Committee of the Board of Directors retains the authority to increase the base salary and the guaranteed minimum bonus, but not to reduce it.
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●
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Acknowledgement that there is no expectation that the executives will participate in the current annual incentive plan or long-term incentive plan established by the Compensation Committee for other executive officers or receive restricted stock awards, stock options or other equity-based compensation, subject to the authority of the Compensation Committee to make any such awards to the named executives at any time in its sole discretion.
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Participation by the executives in other benefit plans generally available to other executive officers, including health insurance, retirement plan and non-qualified supplemental retirement plan, group term life insurance and similar arrangements approved by the Compensation Committee from time to time, and use of a company-owned car or car allowance, with tax-gross-up for the car.
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The named executive may terminate the employment agreement at any time for no reason or for “Good Reason” as defined in the employment agreement.
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The company may terminate the employment agreement at any time for no reason or for “Cause” as defined in the employment agreement.
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Each employment agreement terminates upon the earlier to occur of (A) December 31 of the year in which a Change of Control (defined in the employment agreements) occurs, or (B) that date which is six months following the occurrence of a Change of Control.
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Each employment agreement also terminates upon the death of the executive or after a 12-month period of inability to perform essential functions of his or her position due to health or other considerations.
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In the event of a termination for any reason other than death of the executive, the executive is required to resign from all positions as an officer, director or representative of the company and any direct or indirect subsidiary of the company, unless he or she is requested by the company in writing to remain in any such positions.
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●
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If the employment agreement is terminated by the executive for “Good Reason,” by reason of executive’s disability or by the company for any reason other than “Cause,” then the company is required to pay, in addition to unpaid base salary and pro rata guaranteed bonus for the year in which the termination occurs, for the period beginning on the effective date of the termination and ending on the later to occur of (i) August 1, 2015, or (ii) the third anniversary of the effective date of such termination (the “Separation Pay Period”), the executive's then current base salary and guaranteed minimum bonus.
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If the executive's employment is terminated for any reason other than for “Cause” or the executive's death, then, during the Separation Pay Period, the executive is entitled to continue to participate, at the company's expense, in any accident and health plan, maintained by the company, through insurance or otherwise, to the maximum extent allowed at such time under the law and the provisions of such health plan.
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The employment agreements include customary confidentiality provisions but do not include any non-competition provisions.
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10.1
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Employment Agreement dated as of August 1, 2012, between QC Holdings, Inc. and Don Early.
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10.2
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Employment Agreement dated as of August 1, 2012, between QC Holdings, Inc. and Mary Lou Early.
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99.1
|
QC Holdings, Inc. Press Release issued August 2, 2012, reporting the three months and six months ended June 30, 2012 financial results.
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QC HOLDINGS, INC.
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Date: August 2, 2012 | |||
|
By:
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/s/ Douglas E. Nickerson | |
Name: Douglas E. Nickerson | |||
Title: Chief Financial Officer | |||
1 Year QC (PK) Chart |
1 Month QC (PK) Chart |
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