Exhibit 10.1


 


PROFESSONAL SERVICES AGREEMENT


 


This
Professional Services Agreement (“Agreement”) is made and entered into as of
the 19th day of February, 2009 (“Effective Date”), by
and between Advance America, Cash Advance Centers, Inc., a Delaware corporation
with its principal place of business at 135 N. Church Street, Spartanburg,
South Carolina 29306 (“Advance America”) and Tony Colletti d.b.a. Colletti and
Associates (“Consultant”).


 


RECITALS:


 


WHEREAS,
the parties wish to enter into an agreement setting forth the terms under which
Consultant will deliver the services to Advance America, as hereinafter set
forth, and to determine the terms of payment to Consultant for such services;


 


WHEREAS,
Tony Colletti, principal of Colletti and Associates, is a member of the Board
of Directors of Advance America;


 


WHEREAS,
the services to be provided to Advance America by Consultant under this
Agreement, shall be in addition to the duties performed as a member of the
Board of Directors of Advance America; and


 


NOW
THEREFORE, in consideration of the premises, the mutual covenants contained in
this Agreement, and for other good and valuable consideration, the adequacy of
which the parties hereby acknowledge, Advance America and Consultant agree as
follows:


 


AGREEMENT:


 


I.              General Terms and Conditions.


 


A.    Term.  This Agreement shall commence on the
Effective Date and shall continue on a month-to-month basis for a period of one
year unless earlier terminated by either party with thirty (30) days written
notice to the other.


 


B.    Services.  Among other “Services” to be determined by
Advance America from time to time, Consultant will (i) provide
representation, knowledge, resources, and expertise in government affairs to
and on behalf of Advance America; (ii) monitor and report on
government-related activities relevant to Advance America as they may develop
during the course of the Agreement; however, no action on such matters shall be
taken without the prior approval of Advance America; (iii) assist in
crafting and implementing effective communications with public and policy
officials; (iv) monitor legislation and regulations on key issues
important to Advance America; (v) provide ongoing strategic planning,
consultation and advice on key legislative, regulatory and policy issues; and (vi) monitor
and attend hearings and administrative sessions upon request.


 


C.    Payment.  Consultant will be compensated by Advance
America for Services under this Agreement on a monthly basis.  Advance America will pay Consultant $5,000 per
month for Services related to an Illinois initiative and $10,000 per month for
Services related to a Federal initiative. 
Advance America shall pay Consultant additional amounts for services
related to such other initiatives as Advance America and Consultant may agree
in the future.  Consultant will be
reimbursed for reasonable business expenses associated with the provision of
Services.


 

















 


D.    Advance America Contact.  Consultant shall provide information to and
take direction from Ken E. Compton, President and Chief Executive Officer of
Advance America or his designee during the Term of this Agreement.


 


E.     Compliance with Laws.  Consultant agrees to comply with all lobbying
or other laws, regulations and rules affecting public affairs activities
and to assist Advance America in complying with and filing any reports required
by applicable laws, regulations or rules. 
Consultant agrees to comply with all other law or laws that apply,
directly or indirectly, to the activities it engages in or provides under this
Agreement.  Advance America will not pay
or withhold taxes related to payments made under this Agreement and consultant
agrees and acknowledges that he is not an employee of Advance America for any
purpose.


 


F.     Confidentiality/Fiduciary
Obligations. 
Notwithstanding that the Services to be provided by Consultant under
this Agreement are separate and apart from the services provided by Consultant
to Advance America as a member of the Board of Directors, it is the intent of
both parties herein that Consultant shall maintain the same fiduciary and
confidentiality obligations and duties required of Consultant as a member of
the Board of Directors during the provision of the Services under this
Agreement and likewise enjoy the status, benefits, and indemnifications
attendant to his position as a member of the Company’s Board of Directors
throughout the performance of his duties hereunder.


 


The
parties hereto have caused this Agreement to be duly executed and each of the
undersigned hereby warrants and represents that, as an officer or principal of
either party, they have been and are, on the date of this Agreement, duly
authorized by all necessary and appropriate action to execute this Agreement.


 


 


	
  COLLETTI
  AND ASSOCIATES  

  	
   

  	
  ADVANCE
  AMERICA, CASH ADVANCE

  CENTERS, INC.  

  
	
   

  	
   

  	
   

  
	
  By:
  

  	
  /s/
  Tony Colletti

  	
   

  	
   

  
	
   

  	
  Tony
  Colletti

  	
   

  	
  By:
  

  	
  /s/
  Kenneth E. Compton

  
	
   

  	
   

  	
   

  	
   

  	
  Kenneth
  E. Compton, President and

  
	
   

  	
   

  	
   

  	
   

  	
  Chief
  Executive Officer

  



 


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