UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

EZCORP, Inc.

(Exact name of registrant as specified in its charter)

Delaware		0-19424		74-2540145
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1901 Capital Parkway, Austin, Texas 78746
(Address of principal executive offices) (zip code)

Registrant’s telephone number, including area code: (512) 314-3400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

On August 6, 2009, EZCORP, Inc. announced the appointment of Paul E. Rothamel as Executive Vice President and Chief Operating Officer. A copy of the company’s press release announcing this appointment is attached as Exhibit 99.1 and incorporated herein by reference.

Prior to joining EZCORP, Mr. Rothamel, age 44, was the President and Chief Executive Officer of Pamida, a privately-held company that owns and operates more than 200 general merchandise and pharmacy stores, primarily in the Midwest. Mr. Rothamel joined Pamida in 1999 as Senior Vice President, Store Operations, and was promoted to the position of Senior Vice President, Operations in 2005 and served in that capacity until assuming the President and Chief Executive Officer position in November 2007. From 1997 to 1999, Mr. Rothamel held the positions of Regional Vice President, Store Operations and District Team Leader at ShopKo Stores, Inc., also a privately-held owner and operator of general merchandise and pharmacy stores and an affiliate of Pamida. Before joining ShopKo, Mr. Rothamel held various operational positions with Target Stores, Inc. and Venture Stores Inc.

On August 3, 2009, Mr. Rothamel and EZCORP entered into an employment agreement. Under the terms of the agreement, Mr. Rothamel will receive an annual salary of $500,000, a target bonus of 100% of base salary, and 25,000 restricted shares of EZCORP Class A Non-Voting Common Stock, all of which will vest on the third anniversary of the date of grant (assuming continued employment). In addition, Mr. Rothamel will receive a special bonus payment of $125,000 on October 15, 2009, and will be eligible for relocation benefits and other benefits typically provided to the company’s executive officers. The agreement also provides for certain benefits (principally, a payment equal to one year of then-current base salary) if (a) Mr. Rothamel terminates his employment for “good reason” (including a change in control of EZCORP), (b) EZCORP terminates his employment without “cause,” or (c) he dies or becomes totally and permanently disabled during his active employment with the company. Under the terms of the agreement, Mr. Rothamel will be subject to confidentiality obligations and, for a period of two years following the termination of his employment, will be prohibited from competing with the company, soliciting the company’s customers, or soliciting the company’s employees. The agreement has an initial term of two years, and will be renewed for successive one-year terms unless either party gives 90-days’ notice to terminate. Mr. Rothamel’s employment will commence on September 14, 2009.

(d) Exhibits.

99.1

Press Release dated August 6, 2009

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit
No.				Description of Exhibit
	99.1			Press Release dated August 6, 2009

EXHIBIT 99.1

EZCORP ADDS CHIEF OPERATING OFFICER

AUSTIN, Texas (August 6, 2009) — EZCORP, Inc. (Nasdaq: EZPW) announced today the addition of a new senior executive and a newly created executive position.

EZCORP announced today that it has hired Paul Rothamel as Executive Vice President and Chief Operating Officer reporting to Joe Rotunda, EZCORP’s President and Chief Executive Officer. In this new position, Mr. Rothamel will be responsible for all of EZCORP’s operations in the Americas. Eric Fosse, President, Pawn Americas, which includes EZPAWN, Value Pawn and Empeño Fácil, and Joe Borbely, President, Signature Loans, will report directly to Mr. Rothamel.

Immediately prior to joining EZCORP, Mr. Rothamel was the President & CEO of Pamida, a chain of approximately 200 general merchandise and pharmacy stores located in the Midwest. Mr. Rothamel spent twelve years at Pamida and ShopKo Stores, Inc., a Pamida affiliate, in various senior-level operational roles. Before joining ShopKo in 1997, he held various operational positions with Target and Venture stores.

Commenting on this appointment, Mr. Rotunda stated, “Over the last several years, we have expanded rapidly with our acquisitions and new store openings in the US; our entry into Mexico; and, our planned entry into Canada this fall. In order to continue our expansion and financial plans, we will need a disciplined operational organization and strong leaders. Paul brings the kind of store management and executive acumen needed to help us maintain our aggressive growth while continuing to add value for our shareholders.”

Rotunda continued, “Paul is a highly qualified senior executive who has led a large retail operation. With his chief executive experience, Paul will be a vital strategic partner in analyzing our many internal and external opportunities to continue our business growth. Paul will focus all of his attention on our goal to be the leading provider of short-term cash to our customer segment by providing the right products to satisfy their needs with friendly, efficient service in all of our business formats.”

EZCORP is primarily a lender or provider of credit services to individuals who do not have cash resources or access to credit to meet their short-term cash needs. In its pawnshops, the Company offers non-recourse loans collateralized by tangible personal property, commonly known as pawn loans. At these locations, the Company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value. In its signature loan stores and some pawnshops, the Company offers short-term non-collateralized loans, often referred to as payday loans, or fee based credit services to customers seeking loans.

As of June 30, 2009, EZCORP operated a total of 897 locations in the U.S. and Mexico consisting of 370 U.S. pawnshops, 47 pawnshops in Mexico and 480 U.S. signature loan stores. EZCORP, as a near-30% stockholder, is also actively involved in the management of Albemarle & Bond Holdings PLC, the U.K.’s largest pawnbroking business with 115 stores.

For additional information, contact Dan Tonissen at (512) 314-2289.