EXHIBIT 10.1

THIRD AMENDMENT TO
SECOND AMENDED AND RESTATED
LOAN AND SECURITY AGREEMENT
AND CONSENT AGREEMENT

This THIRD AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
AND CONSENT AGREEMENT, dated to be effective as of September 4, 2015 (this
“Agreement”) is made among CONN’S, INC., a Delaware corporation (the “Parent”),
CONN APPLIANCES, INC., a Texas corporation (“CAI”), CONN CREDIT I, LP, a Texas
limited partnership ( “CCI”), CONN CREDIT CORPORATION, INC., a Texas corporation
(“CCCI”, together with CAI and CCI, individually, a “Borrower” and collectively,
the “Borrowers”), the banks and other financial institutions identified as
“Lenders” on the signature pages hereof (the “Lenders”) and BANK OF AMERICA,
N.A., a national banking association, as Administrative Agent for the Lenders
(“Agent”).
Background
A.    Parent, Borrowers, Agent and Lenders have entered into a Second Amended
and Restated Loan and Security Agreement, dated as of September 26, 2012 (as
amended, modified or supplemented from time to time, the “Loan Agreement”). All
capitalized terms used and not otherwise defined in this Agreement are used as
defined in the Loan Agreement.
B.    Parent, Borrowers, Agent and Required Lenders have agreed to amend certain
provisions of the Loan Agreement as more specifically set forth herein.
C.    Upon request by Parent and Borrowers, Agent and Required Lenders have
agreed to provide their consent to the sale of all or substantially all of the
portfolio of Contracts of CCI to a subsidiary of Parent for the purpose of
obtaining a securitization facility supported by such Contracts.
NOW THEREFORE, in consideration of the premises and the mutual agreements,
representations and warranties herein set forth and for other good and valuable
consideration, Parent, Borrowers, Agent and Lenders hereto hereby agree as
follows:
Agreement
1.Amendment.

(a)The definition of “2015 ABS Facility” is hereby added to Section 1.1 of the
Loan Agreement in alphabetical order to read as follows:

2015 ABS Facility: that certain Permitted ABS Transaction entered into by Parent
and its Subsidiaries as set forth in that certain Third Amendment to Second
Amended and Restated Loan and Security Agreement and Consent Agreement dated as
of September 4, 2015 by and among Parent, Borrowers, Lenders and Agent.
(b)The definition of “Permitted Redemption/Repurchase” is hereby added to
Section 1.1 of the Loan Agreement in alphabetical order to read as follows:

Permitted Redemption/Repurchase: repurchase by Parent of its Equity Interests
and redemption of the notes issued under the HY Note Facility by Parent and
Borrowers using the cash proceeds of the 2015 ABS Facility so long as: (i) at
the time of such repurchase or redemption and immediately after giving effect
thereto, no Default or Event of Default exists, (ii) such repurchase or
redemption is made within the 6 month period commencing on the closing of the
2015 ABS Facility, and (iii) the aggregate amount of such redemptions and
repurchases at no time exceeds $75,000,000.
(c)The definition of “Cash Recovery Percent” as set forth in Section 1.1 of the
Loan Agreement is hereby amended and restated in its entirety to read as
follows:

Cash Recovery Percent: the percent, calculated as of the end of the last day of
each month, equal to the amount determined by dividing (i) the actual Gross Cash
Collections received by Borrowers from payments made by Contract Debtors during
the previous three (3) months by (ii) the sum of the Gross Contract Payments
outstanding as of the beginning of the first day of each of the previous three
(3)

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months. The Cash Recovery Percent shall be calculated based on the lower of (x)
the Cash Recovery Percent determined based on the portfolio of Contracts subject
to Agent’s Lien pursuant to the Security Documents, and (y) the Cash Recovery
Percent determined based on the combined portfolio of Contracts subject to
Agent’s Lien pursuant to the Security Documents as well as those Contracts
subject to the Existing Securitization Facility and any other Permitted ABS
Transaction; provided however, that for a one-time period of 6 months after the
closing of the 2015 ABS Facility, the Cash Recovery Percent shall be determined
based on the combined portfolio of Contracts subject to Agent’s Lien pursuant to
the Security Documents as well as those Contracts subject to the 2015 ABS
Facility.
(d)The definition of “Fixed Charges” as set forth in Section 1.1 of the Loan
Agreement is hereby amended and restated in its entirety to read as follows:

Fixed Charges: without double counting, the sum of interest expense (other than
payment-in-kind and original issue discount), scheduled/amortized principal
payments made on Borrowed Money, un-scheduled principal payments made on
Borrowed Money (other than payments on account of the Obligations, any other
revolving Debt permitted hereunder), book rent expense, cash income taxes paid,
and Distributions made, excluding amortization of closing costs and expenses
incurred in connection with the Loan Documents, Existing Securitization
Facility, a Permitted ABS Transaction, and excluding any amounts used to
consummate a Permitted Redemption/Repurchase.
(e)The definition of “Leverage Ratio” as set forth in Section 1.1 of the Loan
Agreement is hereby amended and restated in its entirety to read as follows:

Leverage Ratio: the ratio, determined as of the end of any Fiscal Quarter for
the Parent and its Subsidiaries, on a consolidated basis, of (a) the result of
(x) all items that would be included as liabilities on a balance sheet in
accordance with GAAP as of the last day of such Fiscal Quarter, minus (y)
Qualified Cash as of such date of measurement, to (b) Tangible Net Worth as of
the last day of such Fiscal Quarter.
(f)The definition of “Permitted Distribution” as set forth in Section 1.1 of the
Loan Agreement is hereby amended and restated in its entirety to read as
follows:

Permitted Distribution: (a) Distributions declared and made by Parent or any of
its Subsidiaries solely for the purpose of making, or permitting Parent to make,
payments on account of obligations owed under the HY Note Facility (including
the Permitted Redemption/Repurchase) which payments are permitted to be made
under Section 10.2.8(c), and (b) other Distributions declared and made by Parent
or any Borrower which are approved by Parent’s board of directors so long as (i)
immediately before and after giving effect thereto, (A) no Default or Event of
Default exists, (B) Availability is not less than the greater of (x) $75,000,000
and (y) 15% of the Borrowing Base in effect at the time of measurement, and (C)
Fixed Charge Coverage Ratio is greater than 1.35:1.00, and (ii) projected Fixed
Charge Coverage Ratio for the succeeding 6-month period after giving effect to
declaring and making any such Distribution is greater than 1.35:1.00; provided,
that the Availability requirement under clause (B) shall not be applicable to a
Distribution made for the repurchase of Parent’s Equity Interests pursuant to a
Permitted Redemption/Repurchase.
(g)The definition of “Qualified Cash” is hereby added to Section 1.1 of the Loan
Agreement in alphabetical order to read as follows:

Qualified Cash: as of any date of determination, the aggregate amount of
unrestricted cash of Borrowers that (a) is subject to a first priority Lien in
favor of Agent for the benefit of Secured Parties, and (b) is subject to a
Deposit Account Control Agreement, in form and substance reasonably satisfactory
to Agent.
(h)Section 6.2(f) of the Loan Agreement is hereby amended and restated in its
entirety to read as follows:

(f) (i) After giving effect to the funding of any Revolver Loan, issuance of any
Letters of Credit or granting of any other accommodation to or for the benefit
of the Borrowers, Borrowing Availability shall be in an amount greater than
zero, and (ii) prior to giving effect to the funding of any Revolver Loan,
Qualified Cash shall be in an amount less than $100,000,000.

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(i)Section 10.2.8(c) of the Loan Agreement is hereby amended and restated in its
entirety to read as follows:

(c)    Make any principal payments (whether voluntary or mandatory, or a
prepayment, redemption, repurchase, retirement, defeasance or acquisition) with
respect to the HY Note Facility unless immediately before and after giving
effect to any such repayment (i) no Default or Event of Default exists and (ii)
Availability exceeds the greater of (x) $92,500,000 and (y) 12.5% of the
Borrowing Base then in effect; provided, that the Availability requirement under
clause (ii) shall not be applicable to a Permitted Redemption/Repurchase of the
HY Note Facility.
2.Consent.

(a)Parent and Borrowers have informed Agent and Lenders that Parent and
Borrowers intend to enter into a securitization transaction whereby pursuant to
a one-time transaction, CCI will sell substantially all of its portfolio of
Contracts to a Securitization Subsidiary which will directly or indirectly enter
into a securitization facility with the securitization investors for the purpose
of financing the purchased Contracts (“Proposed ABS Facility”). As set forth in
the Loan Agreement, Borrowers and their Subsidiaries are not permitted to enter
into a securitization facility without the consent of Agent and Required
Lenders. Lenders party hereto hereby consent to the Proposed ABS Facility and
agree that such facility will be deemed a Permitted ABS Transaction subject to
the satisfaction of the conditions set forth in clause (b), below.

(b)In each case the consent, waiver and agreement set forth in clause (a) above
is subject to:

(i)No Default or Event of Default shall exist prior to or immediately after
giving effect to the consummation of the Proposed ABS Facility;

(ii)The net proceeds of the Proposed ABS Facility will be used to repay all
Revolver Loans in full and for other general corporate purposes;

(iii)The Proposed ABS Facility satisfies all of the conditions of a Permitted
ABS Transaction (other than the consent of Required Lenders);

(iv)Agent has reviewed and approved the structure and all documents related to
the Proposed ABS Facility and such structure and documents are consistent with
the Confidential Preliminary Term Sheet attached hereto as Exhibit A;

(v)Borrowers deliver to Agent (x) the draft documents evidencing the Proposed
ABS Facility (“ABS Documents”) within 5 Business Days (or such shorter period of
time as reasonably acceptable to Agent) prior to the consummation of the
Proposed ABS Facility, (y) the substantially final ABS Documents within 1
Business Day prior to the consummation of the Proposed ABS Facility and (z) a
copy of the final executed ABS Documents contemporaneous with the consummation
of the Proposed ABS Facility, all of which shall be in form and substance
reasonably satisfactory to Agent; and

(vi)Immediately prior to the consummation of the Proposed ABS Facility,
Borrowers deliver to Agent an updated Borrowing Base Certificate giving pro
forma effect to the consummation of the Proposed ABS Facility.

(c)The consents, waivers and agreements set forth above shall be effective only
in this specific instance and for the specific purpose for which they are given,
and such consents, waivers and agreements shall not entitle Parent or Borrowers
to any other or further consent or waiver in any similar or other circumstances.
The consents, waivers and agreements set forth above shall be limited precisely
as written and shall not be deemed to (i) be a waiver or modification of any
other term or condition of the Loan Agreement or any other Loan Document or (ii)
prejudice any right or remedy which Agent or any Lender may now have or may have
in the future under or in connection with the Loan Agreement or any Loan
Document.

3.Representations and Warranties; No Default. Each of the Parent and the
Borrowers, hereby represents and warrants as of the effectiveness of this
Agreement that:

(a)no Default or Event of Default exists; and

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(b)its representations and warranties set forth in Section 9 of the Loan
Agreement are true and correct as of the date hereof, as though made on and as
of such date (except to the extent such representations and warranties relate
solely to an earlier date and then as of such earlier date).

4.Effectiveness. This Agreement (and the consents and waivers set forth herein)
shall become effective, as of the date first set forth above upon receipt by
Agent of:

(a)Executed counterparts hereof from Parent, the Borrowers and each of the
Required Lenders;

(b)Certificates, in the form of Exhibit B attached to the Loan Agreement, from a
knowledgeable Senior Officer of Parent and each Borrower;

(c)A certificate of a duly authorized officer of each Obligor, certifying (i)
that attached copies of such Obligor’s Organic Documents are true and complete,
and in full force and effect, without amendment except as shown; (ii) that an
attached copy of resolutions authorizing execution and delivery of the Loan
Documents is true and complete, and that such resolutions are in full force and
effect, were duly adopted, have not been amended, modified or revoked, and
constitute all resolutions adopted with respect to this credit facility; and
(iii) to the title, name and signature of each Person authorized to sign the
Loan Documents;

(d)A reaffirmation of its obligations under the Guaranty, duly executed by each
Guarantor; and

(e)An amendment fee for the account of each Lender that executes and delivers a
signature page hereto to Agent on or before 12:00 noon (Pacific time) on
September 3, 2015 (each such Lender, a “Consenting Lender”, and collectively,
the “Consenting Lenders”), in an amount equal to ten (10) basis points on the
aggregate Revolver Commitments of such Consenting Lender.

5.Binding Effect; Ratification

(a)Upon the effectiveness of this Agreement and thereafter this Agreement shall
be binding on Agent, Parent, Borrowers and Lenders and their respective
successors and assigns.

(b)On and after the execution and delivery hereof, this Agreement shall be a
part of the Loan Agreement and each reference in the Loan Agreement to “this
Loan Agreement” or “hereof”, “hereunder” or words of like import, and each
reference in any other Loan Document to the Loan Agreement shall mean and be a
reference to such Loan Agreement as amended hereby.

(c)Except as expressly amended hereby, the Loan Agreement shall remain in full
force and effect and is hereby ratified and confirmed by the parties hereto.

6.Miscellaneous. (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF CALIFORNIA, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS. EACH OF THE PARTIES TO THIS AGREEMENT AGREES TO THE NON-EXCLUSIVE
JURISDICTION OF ANY FEDERAL OR STATE COURT SITTING IN OR WITH JURISDICTION OVER
LOS ANGELES COUNTY, CALIFORNIA IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY
TO THIS AGREEMENT OR ANY LOAN DOCUMENT AND AGREES THAT ANY SUCH PROCEEDING SHALL
BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH OF THE PARTIES HERETO HEREBY
WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF
ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS
TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY
SUCH COURT.

(b)All reasonable costs and expenses incurred by Agent in connection with this
Agreement (including reasonable attorneys’ costs) shall be paid by the
Borrowers.

(c)Headings used herein are for convenience of reference only and shall not
affect the meaning of this Agreement.

(d)This Agreement may be executed in any number of counterparts, and by the
parties hereto on separate counterparts, each of which shall be an original and
all of which taken together shall constitute one and the same agreement.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.
PARENT:

CONN’S, INC.,
a Delaware corporation

By: /s/ Michael J. Poppe            
Name:    Michael J. Poppe
Title:
Executive Vice President and Chief Operating Officer

BORROWERS:

CONN APPLIANCES, INC.,
a Texas corporation

By: /s/ Michael J. Poppe            
Name:    Michael J. Poppe
Title:
Executive Vice President and Chief Operating Officer

CONN CREDIT I, LP,
a Texas limited partnership

By:    Conn Credit Corporation, Inc.,
a Texas corporation,
its sole general partner

By: /s/ Michael J. Poppe            
Name:    Michael J. Poppe
Title:
Executive Vice President and Chief Operating Officer

CONN CREDIT CORPORATION, INC.,
a Texas corporation

By: /s/ Michael J. Poppe            
Name:    Michael J. Poppe
Title:
Executive Vice President and Chief Operating Officer

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AGENT AND LENDERS:

BANK OF AMERICA, N.A.,
as Agent and Lender

By: /s/ Carlos Gil        
Name: Carlos Gil        
Title: Senior Vice President    

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JPMORGAN CHASE BANK, N.A.

By: /s/ Jennifer Heard            
Name:     Jennifer Heard            
Title: Authorized Officer        

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REGIONS BANK

By: /s/ Eric Krimm            
Name:     Eric Krimm                
Title: Vice President                        

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MUFG UNION BANK, N.A.

By: /s/ Nadia Mitevska        
Name: Nadia Mitevska        
Title: Vice President            

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COMPASS BANK

By: /s/ Michael Sheff            
Name:     Michael Sheff                
Title: SVP                                

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AMEGY BANK

By: /s/ Mark L. Wayne        
Name:     Mark L. Wayne        
Title: SVP                

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FIRST TENNESSEE BANK NATIONAL ASSOCIATION

By: /s/ Daniel McCarthy        
Name: Daniel McCarthy        
Title: VP                

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SYNOVUS BANK

By: /s/ David W. Bowman        
Name:     David W. Bowman        
Title: Director                

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WHITNEY BANK

By: /s/ Katie Sandoval        
Name:     Katie Sandoval        
Title: Senior Vice President        

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AMALGAMATED BANK

By: /s/ Michael LaManes        
Name:     Michael LaManes        
Title: First Vice President        

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MB FINANCIAL BANK, N.A.

By: /s/ Pavo Hrkac            
Name: Pavo Hrkac            
Title: AVP                

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CATHAY BANK

By: /s/ Humberto Campos        
Name: Humberto Campos         
Title: Vice President             

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ISRAEL DISCOUNT BANK OF NEW YORK

By: /s/ Dionne S. Rice            
Name: Dionne S. Rice            
Title: First Vice President        

By: /s/ Richard Miller            
Name: Richard Miller            
Title: Senior Vice President        

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GREEN BANK, N.A.

By: /s/ Glen R. Bell            
Name: Glen R. Bell            
Title: Executive Vice-President    

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CITY NATIONAL BANK

By: /s/ David Knoblauch        
Name:     David Knoblauch        
Title: SVP                

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BOKF, NA dba Bank of Texas

By: /s/ Marian Livingston        
Name: Marian Livingston        
Title: Senior Vice President