*EXHIBIT 10.29***RENT-WAY, INC.****2006 EQUITY INCENTIVE PLAN****RESTRICTED STOCK UNIT AWARD AGREEMENT**     This Restricted Stock Unit Award Agreement (“Agreement”) is dated as of May 4, 2006 (the“Grant Date”) and is entered into between Rent-Way, Inc., a Pennsylvania corporation (“Rent-Way”),and John A. Lombardi (the “Employee”).     This Agreement grants Restricted Stock Units, on the terms and conditions set forth in thisAgreement and the Rent-Way, Inc. 2006 Equity Incentive Plan (the “Plan”), to the Employee.Capitalized terms used but not defined in this Agreement shall have the meaning specified in thePlan.     In consideration of the mutual promises set forth below, the parties hereto agree as follows:     1. Grant of Restricted Stock Units. Subject to the terms and conditions of thisAgreement and the Plan (the terms of which are hereby incorporated by reference) and effective asof the Grant Date, Rent-Way hereby grants to the Employee 15,000 Restricted Stock Units.     2. Vesting. Subject to the terms of this Agreement and the Plan, 33 1/3% of theRestricted Stock Units awarded under this Agreement will vest on each of the first, second andthird anniversaries of April 1, 2006 (the “Vesting Dates”, and each such one year period being a“Vesting Year”) if the Employee (i) remains continuously employed by the Company through therelevant Vesting Dates; and (ii) on the relevant Vesting Dates, (x) is a member in good standing(at Rent-Way’s expense) of Financial Executives International (“FEI”) and is participating in FEIprograms and (y) has attended and completed in the past Vesting Year, at Rent-Way’s expense, notless than two Institutional Shareholder Services-certified professional development programs,totaling not less than 25 hours during the Vesting Year, relating to his duties with Rent-Way, allas verified by the President of Rent-Way.     3. Effect of Termination of Employment. If the Employee’s employment is terminated bythe Employee or by the Company before a Vesting Date for any reason other than the Employee’s deathor Disability or termination by the Company without Cause (as defined in the Employee’s employmentagreement with the Company dated April 1, 2006) all of the Restricted Stock Units which have notpreviously vested shall be forfeited; provided, however, that the Compensation Committee of theBoard of Directors of Rent-Way (the “Committee”) may in its sole and absolute discretion at anytime before, or after, the date of such termination of employment, determine that some or all ofsuch Restricted Stock Units shall be free of restrictions and shall not be forfeited. If theEmployee’s employment is terminated by reason of his death or Disability or by the Company withoutCause, all of the Restricted Stock Units whichhave not previously vested shall immediately vest as of the date of such termination ofemployment.
 

 
     4. Stock Certificates. Stock certificates (or registration in book-entry form)evidencing the conversion of Restricted Stock Units into shares of Company Stock shall be issued asof the Vesting Date and registered in the Employee’s name. Subject to Section 6 of this Agreement,certificates, or registration in book-entry form, representing the unrestricted shares of CompanyStock will be delivered to the Employee as soon as practicable after the Vesting Date. Rent-Waywill not be required to deliver any shares of Company Stock until the requirements of any federalor state securities laws, rules or regulations or other laws or rules (including the rules of anysecurities exchange) as may be determined by the Company to be applicable have been satisfied.     5. Dividends. The Restricted Stock Units shall not be entitled to receive anyDividend Equivalents.     6. Tax Withholding Obligations. The Employee shall be required to deposit with theCompany an amount of cash equal to the amount determined by the Company to be required with respectto any withholding taxes, FICA contributions, or the like under any federal, state, or localstatute, ordinance, rule, or regulation in connection with the award, or settlement of theRestricted Stock Units. Alternatively, the Company may, at its sole election, withhold therequired amounts from the Employee’s pay during the pay periods next following the date on whichany such applicable tax liability otherwise arises. The Committee, in its discretion, may permitthe Employee, subject to such conditions as the Committee shall require, to elect to have Rent-Waywithhold a number of shares of Company Stock otherwise deliverable having a Fair Market Valuesufficient to satisfy the statutory minimum of all or part of the Employee’s estimated totalfederal, state, and local tax obligations associated with vesting or settlement of the RestrictedStock Units. Rent-Way shall not deliver any of the shares of Company Stock until and unless theEmployee has made the deposit required herein or proper provision for required withholding has beenmade.     7. Restriction on Transferability. Until the Restricted Stock Units are vested asprovided above, they may not be sold, transferred, pledged, assigned, or otherwise alienated at anytime. Any attempt to do so contrary to the provisions hereof shall be null and void.     8. Rights as Shareholder. The Employee shall not have voting or any other rights as ashareholder of Rent-Way with respect to the Restricted Stock Units. Upon settlement of theRestricted Stock Units into shares of Company Stock, the Employee will obtain full voting and otherrights as a shareholder of Rent-Way.     9. Administration. The Committee shall have the power to interpret the Plan and thisAgreement and to adopt such rules for the administration, interpretation, and application of thePlan as are consistent therewith and to interpret or revoke any such rules. All actions taken andall interpretations and determinations made by the Committee shall be final and binding upon theEmployee, the Company, and all other interested persons. No member of the Committee shall bepersonally liable for any action, determination, or interpretation made in good faith with respectto the Plan or this Agreement.     10. Effect on Other Employee Benefit Plans. The value of the Restricted Stock Unitsgranted pursuant to this Agreement shall not be included as compensation, earnings,
 

 
salaries, or other similar terms used when calculating the Employee’s benefits under any employee benefit plansponsored by the Company except as such plan otherwise expressly provides. The Company expresslyreserves its rights to amend, modify, or terminate any of the Company’s employee benefit plans.     11. No Employment Rights. The award of the Restricted Stock Units pursuant to thisAgreement shall not give the Employee any right to remain employed by the Company.     12. Amendment. This Agreement may be amended only by a writing executed by Rent-Wayand the Employee which specifically states that it is amending this Agreement. Notwithstanding theforegoing, this Agreement may be amended solely by the Committee by a writing which specificallystates that it is amending this Agreement, so long as a copy of such amendment is delivered to theEmployee, and provided that no such amendment adversely affecting the rights of the Employeehereunder may be made without the Employee’s written consent. Without limiting the foregoing, theCommittee reserves the right to change, by written notice to the Employee, the provisions of theRestricted Stock Units or this Agreement in any way it may deem necessary or advisable to carry outthe purpose of the grant as a result of any change in applicable laws or regulations or any futurelaw, regulation, ruling, or judicial decision, provided that any such change shall be applicableonly to Restricted Stock Units which are then subject to restrictions as provided herein.     13. Notices. Any notice to be given under the terms of this Agreement or the Plan toRent-Way shall be addressed to Rent-Way in care of its President. Any notice to be given toEmployee shall be addressed to Employee at the address listed in the Company’s records. By anotice given pursuant to this Section, either party may designate a different address for notices.Any notice shall have been deemed given when actually delivered.     14. Severability. If all or any part of this Agreement or the Plan is declared by anycourt or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shallnot invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid.Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalidshall, if possible, be construed in a manner which will give effect to the terms of such Section orpart of a Section to the fullest extent possible while remaining lawful and valid.     15. Construction. The Restricted Stock Units are being issued pursuant to Section 10(Restricted Stock Units) of the Plan and are subject to the terms of the Plan. A copy of the Planhas been given to the Employee, and additional copies of the Plan are available upon request duringnormal business hours at the principal executive office of Rent-Way. To the extent that anyprovision of this Agreement violates or is inconsistent with an express provision of the Plan, thePlan provision shall govern and any inconsistent provision in this Agreement shall be of no forceor effect.     16. Miscellaneous.     (a) The Board may terminate, amend, or modify the Plan; provided, however, that no suchtermination, amendment, or modification of the Plan may in any way adversely affect the Employee’srights under this Agreement, without the Employee’s written approval.
 

 
     (b) This Agreement shall be subject to all applicable laws, rules, and regulations, and tosuch approvals by any governmental agencies or national securities exchanges as may be required.     (c) To the extent not preempted by federal law, this Agreement shall be governed by, andconstrued in accordance with, the laws of the Commonwealth of Pennsylvania.[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]
 

 
     IN WITNESS WHEREOF, the parties have executed and delivered this Agreement effective as of theGrant Date.       Employee:   Rent-Way, Inc.       /s/ John A. Lombardi   By: /s/ William S. Short       John A. Lombardi     William S. Short, President