exv10w1






Exhibit 10.1




ADVISORY SERVICES AGREEMENT



This Advisory Services Agreement (this “Agreement”) is made and entered into, effective
October 1, 2011, by and between EZCORP, Inc., a Delaware corporation (“EZCORP”), and Madison Park,
LLC, a Delaware limited liability company (“Madison Park”), regarding certain advisory services to
be rendered by Madison Park to EZCORP.




Recitals





	A.	 	EZCORP desires to engage Madison Park to render strategic and financial advisory services to
EZCORP, as described herein.
	 
	B.	 	Madison Park desires to accept such engagement subject to the terms and conditions specified
herein.




Now, therefore, for and in consideration of the premises and mutual covenants and agreements
specified herein, and for other consideration the receipt and adequacy of which are hereby
acknowledged, the parties hereby agree as follow:





	1.	 	Advisory Services — EZCORP hereby engages Madison Park to provide, and Madison Park hereby
accepts such engagement and agrees to provide to EZCORP, advisory services related to EZCORP’s
business and long term strategic plan, as modified by EZCORP from time to time. Such advisory
services (the “Services”) shall include the following:






	 	(a)	 	Identifying, evaluating and negotiating potential acquisitions and strategic
alliances;
	 
	 	(b)	 	Assessing operating and strategic objectives, including new business
development;
	 
	 	(c)	 	Advising on investor relations and relations with investment bankers,
securities analysis and other members of the financial services industry;
	 
	 	(d)	 	Assisting in international business development and strategic investment
opportunities that complement EZCORP’s business lines and strategic objectives;
	 
	 	(e)	 	Analyzing financial condition and results of operations, evaluating strengths
and weaknesses of financial performance and recommending measures to improve
performance;
	 
	 	(f)	 	Advising on dividend policy and corporate transactions, such as stock
repurchases, splits, recapitalizations and restructurings;
	 
	 	(g)	 	Providing briefings on business strategy to the Board of Directors from time to
time; and
	 
	 	(h)	 	Performing such other services as are requested by EZCORP.






	2.	 	Compensation and Payments —






	 	(a)	 	Retainer Fee — As compensation for providing the Services, EZCORP shall pay
Madison Park a retainer fee of $500,000 per month during the term of




 









 












	 	 	 	this engagement. Such fee shall be payable monthly in advance on or before the
fifth day of each month.
	 
	 	(b)	 	Reimbursement of Expenses — EZCORP shall reimburse Madison Park for its
out-of-pocket travel and entertainment expenses incurred in connection with providing
the Services. In order to document those expenses, Madison Park shall submit expense
reports (including supporting documentation) in accordance with EZCORP’s expense
reporting policies generally applicable to its executive officers. Expenses shall be
paid within 30 days after receipt of appropriate expense reports and supporting
documentation.






	3.	 	Term and Termination —






	 	(a)	 	The engagement described in this Agreement shall commence on October 1, 2011
and, unless terminated as provided in subparagraph (b) of this Paragraph, shall
terminate on September 30, 2012.
	 
	 	(b)	 	Either party may terminate this Agreement, and the engagement described herein,
with or without cause upon 30 days written notice to the other party.
	 
	 	(c)	 	Upon termination of this Agreement, all obligations of the parties hereunder
shall cease; provided, however that (i) EZCORP shall be obligated to pay any portion of
the retainer fee under Paragraph 2(a) above that has been earned but remains unpaid as
of the date of termination and shall be obligated to pay unreimbursed expenses pursuant
to Paragraph 2(b) above (subject to the provisions thereof), and (ii) the provisions of
Paragraphs 4 and 5 below shall survive such termination and shall continue in full
force and effect.






	4.	 	Indemnification and Contribution —






	 	(a)	 	EZCORP shall indemnify and hold harmless Madison Park, its affiliates, the
respective officers, directors, employees, consultants, associates and agents of
Madison Park and its affiliates, and any person controlling Madison Park or any of its
affiliates (each an “Indemnified Person”) from and against any and all claims, costs,
expenses, liabilities, losses and damages (or actions in respect thereof) related to or
arising out of this engagement or Madison Park’s connection therewith; provided,
however, that EZCORP shall not be responsible for any claims, costs, expenses,
liabilities, losses or damages of an Indemnified Person to the extent that it is
finally determined by a court or other tribunal of competent jurisdiction that they
resulted primarily from actions taken or omitted to be taken by such Indemnified Person
due to such Indemnified Person’s recklessness, willful misconduct or bad faith or that
they arose primarily out of or were based primarily upon any untrue statement or
omission made (i) in any document or writing in reliance upon and in conformity with
information furnished to EZCORP by such Indemnified Person for use in such document or
writing or (ii) in any document in connection with the engagement without the prior
approval of EZCORP. For purposes of this provision, a person shall be considered to be
“controlling” Madison Park if such person would be considered to be a “controlling
person” of Madison Park for purposes of either Section 15 of the Securities Act of 1933
or Section 20(a) of the Securities Exchange Act of 1934.
	 
	 	(b)	 	If any action or proceeding, including any governmental investigation, shall be
brought or asserted against an Indemnified Person in respect of which




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	 	 	 	indemnity may be sought from EZCORP, such Indemnified Person shall promptly notify
EZCORP in writing of an Indemnified Person’s knowledge of such action or proceeding,
and EZCORP shall assume the defense thereof, including the employment of counsel
reasonably satisfactory to such Indemnified Person and the payment of all fees and
disbursements of such counsel and all other expenses related to such action or
proceeding. Such Indemnified Person shall have the right to employ separate counsel
in any such action or proceeding and to participate in defense thereof, but the fees
and expenses of such separate counsel shall be at the expense of such Indemnified
Person unless (i) EZCORP has agreed to pay such fees and expenses or (ii) EZCORP
shall have failed to timely assume the defense of such action or proceeding, to
employ counsel reasonably satisfactory to such Indemnified Person in any such action
or proceeding and if requested by such Indemnified Person, to confirm in writing
that it is obligated to indemnify such Indemnified Person against all claims, costs,
expenses, liabilities, losses and damages related to or arising out of such action
or proceeding in accordance with this Agreement or (iii) counsel shall determine
that there is or could reasonably be expected to be a conflict of interest by reason
of having common counsel in any action or proceeding, in which case, if such
Indemnified Person notifies EZCORP in writing that it elects to employ separate
counsel at the expense of EZCORP, EZCORP shall not have the right to assume the
defense of such action or proceeding on behalf of such Indemnified Person, it being
understood, however, that EZCORP shall not, in connection with any one such action
or proceeding or separate but substantially similar or related actions or
proceedings in the same jurisdiction arising out of the same general allegations or
circumstances, be liable for the reasonable fees and expenses of more than one
separate firm of attorneys (together with appropriate local counsel) at any time for
such Indemnified Person, which firm shall be designated in writing by such
Indemnified Person. EZCORP shall not be liable for any settlement of any such
action or proceeding effected without EZCORP’s written consent, which should not be
unreasonably withheld. If settled with EZCORP’s prior written consent or if there
be a final and nonappealable judgment for the plaintiff in any such action or
proceeding, EZCORP agrees to indemnify and hold harmless such Indemnified Person
from and against any loss or liability to the extent stated above by reason of such
settlement or judgment.
	 
	 	(c)	 	If for any reason the indemnification provided herein is unavailable to an
Indemnified Person under subparagraph (a) of this Paragraph in respect of any claims,
costs, expenses, liabilities, losses or damages referred to therein or if such
indemnification shall be insufficient to hold such Indemnified Person harmless from all
such claims, costs, expenses, liabilities, losses or damages, then EZCORP, in lieu of
indemnifying such Indemnified Person shall contribute to the amount paid or payable by
such Indemnified Person as a result of such claims, costs, expenses, liabilities,
losses, or damages (i) in such proportion as is appropriate to reflect the relative
benefits received by EZCORP on the one hand and such Indemnified Person on the other
hand or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of EZCORP, on the one
hand, and such Indemnified Person, on the other, as well as any other relevant
equitable consideration. The amount paid or payable by a party as a result of the
claims, costs, expenses, liabilities, losses or damages referred to




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	 	 	 	above shall be deemed to include, subject to the limitations set forth in
subparagraph (b) of this Paragraph any legal or other fees or expenses reasonably
incurred by such party in connection with investigating or defending any action or
claim. Notwithstanding the provisions herein, Madison Park shall not be required to
contribute any amount in excess of the aggregate amount of retainer fees received by
Madison Park under this Agreement.






	5.	 	Confidentiality and Securities Trading —






	 	(a)	 	Neither party, without the express written consent of the other party, shall
disclose to any person (i) the information disclosed by EZCORP to Madison Park in
connection with Madison Park’s performance of the Services, (ii) the advice provided to
EZCORP by Madison Park in connection with Madison Park’s performance of the Services or
(iii) the terms of this Agreement; provided, however, that a party shall be entitled to
make such disclosure if, but only to the extent that, it is required to do so by reason
of a deposition, interrogatory, request for documents, subpoena, civil investigative
demand, other demand or request by a governmental agency or the application of
statutes, rules and regulations or similar process, including stock exchange
requirements. The provisions of this subparagraph shall not apply to any information
that is now or hereafter becomes generally available to the public other than as a
result of a violation this subparagraph.
	 
	 	(b)	 	Madison Park hereby acknowledges that EZCORP is a publicly traded company and
that the information EZCORP discloses to Madison Park and its representatives during
the course of this engagement may include material non-public information.
Accordingly, Madison Park agrees (for itself and on behalf of its representatives) that
it will not use any of such information for any purpose (including engaging in
transactions involving the publicly traded securities of EZCORP) other than in
connection with the performance of the Services pursuant to this engagement.






	6.	 	Governing Law — This Agreement shall be governed by the laws of the State of New York.
	 
	7.	 	Assignment — The rights and obligations under this Agreement may not be assigned by either
party without the express written consent of the other party; provided, however, that Madison
Park, with at least 30 days’ written notice to EZCORP, may assign its rights and obligations
to any of its affiliates. For purposes of this provision, Madison Park’s “affiliates” shall
include those persons who control, are controlled by or are under common control with Madison
Park.
	 
	8.	 	Entire Agreement — This Agreement constitutes the entire agreement of the parties hereto
with respect to all matters contemplated hereby and supersedes all previous agreements and
understandings among them concerning such matters. No statements or agreements, oral or
written, made prior to or at the signing hereof, shall vary, waive or modify the written terms
hereof.





(SIGNATURE PAGE FOLLOWS)




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In witness whereof, the parties have executed this Agreement, intending to be legally bound in
accordance with its terms, to be effective as of the date first written above.




	 	 	 	 	 
	 	EZCORP, INC.

 	 
	 	By:  	/s/ Thomas H. Welch, Jr.
 	 
	 	 	Thomas H. Welch, Jr., 	 
	 	 	Senior Vice President,
General Counsel and Secretary 	 
	 



	 	 	 	 	 
	 	MADISON PARK, LLC

 	 
	 	By:  	/s/ Phoebe Nolan
 	 
	 	 	Phoebe Nolan, 	 
	 	 	Vice President 	 
	 




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