8-KMaterial AgreementsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Jul 17, 2006)

Filed July 17, 2006For Securities:CASY

Summary

This 8-K filing from Casey's General Stores, Inc. (CASY) on July 17, 2006, details significant amendments to employment agreements and executive retirement plans. Specifically, the company's Executive Committee approved amendments to the employment agreements of Ronald M. Lamb, now Chairman of the Executive Committee, and John G. Harmon, Senior Vice President and Secretary. These changes address Mr. Lamb's transition from CEO and extend Mr. Harmon's employment term.

Key Highlights

  • 1Amendments to employment agreements for key executives Ronald M. Lamb and John G. Harmon were approved.
  • 2Ronald M. Lamb's role has transitioned to Chairman of the Executive Committee, effective June 21, 2006.
  • 3John G. Harmon's employment term as Senior Vice President and Secretary has been extended to March 1, 2014.
  • 4Amendments to the Non-Qualified Supplemental Executive Retirement Plan (SERP) were approved.
  • 5The SERP amendments establish a maximum amount of $285,000 for determining John G. Harmon's retirement benefits.
  • 6These agreements were previously considered and approved by the Compensation Committee of the Board of Directors.
  • 7Detailed amendments are available as exhibits to the filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on the approval of amendments to the employment agreements of two key executives, Ronald M. Lamb and John G. Harmon, and to the company's Supplemental Executive Retirement Plan (SERP).

Ronald M. Lamb's employment agreement was amended to reflect his transition to the role of Chairman of the Executive Committee, effective June 21, 2006. His duties in this new role will be mutually determined by the Board of Directors and Mr. Lamb.

John G. Harmon's employment as Senior Vice President and Secretary has been extended until March 1, 2014. Additionally, amendments to the SERP will cap the amount used to determine his retirement benefits at $285,000, based on his then-current salary.

The Executive Committee of the Board of Directors approved these amendments, and they were previously considered and approved by the Compensation Committee of the Board of Directors, pending final documentation.