Document:

<PAGE>   1

                                 EXHIBIT 10.79

                                  EZCORP, INC.

                               SECOND AMENDMENT TO

                                CREDIT AGREEMENT

                                   AND WAIVER

                          AMENDED AS OF MARCH 31, 2000

                  WELLS FARGO BANK TEXAS, NATIONAL ASSOCIATION

                                    AS AGENT

                                       AND

                                  ISSUING BANK

<PAGE>   2

                 SECOND AMENDMENT TO CREDIT AGREEMENT AND WAIVER

         THIS SECOND AMENDMENT TO CREDIT AGREEMENT AND WAIVER (this
"AMENDMENT") entered into as of March 31, 2000, is among EZCORP, INC., a
Delaware corporation ("BORROWER"), each of the Lenders, and WELLS FARGO BANK
TEXAS, NATIONAL ASSOCIATION (successor by consolidation to Wells Fargo Bank
(Texas), National Association), a national banking association, as Agent for
itself and the other Lenders (in such capacity, together with its successors in
such capacity the "AGENT"), and as the Issuing Bank.

                                    RECITALS:

         A. Borrower, Agent, Lenders and Issuing Bank have previously entered
into that certain Credit Agreement dated as of December 10, 1998, as amended by
that certain First Amendment to Credit Agreement dated as of September 29, 1999
(as amended, the "AGREEMENT").

         B. Borrower, Agent, Lenders and Issuing Bank now desire to amend the
Agreement to (i) reduce the aggregate Commitment from One Hundred Ten Million
Dollars ($110,000,000) to Eighty-Five Million Dollars ($85,000,000), (ii)
provide collateral to secure the Obligations, (iii) modify certain financial
covenants, (iv) modify the pricing table in Section 2.10 of the Agreement, and
(v) make such other modifications, in each case as hereinafter more
specifically provided.

         C. Borrower has advised Agent and Lenders that a Default has occurred
under the Agreement and has requested a waiver thereof. The Required Lenders
desire to grant such waiver as herein provided.

         NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties hereto agree as follows:

                                    ARTICLE I

                                   Definitions

         Section I.1 Definitions. All capitalized terms not otherwise defined
herein, shall have the same meanings as in the Agreement, as amended hereby.

                                   ARTICLE II

                              Amendments and Waiver

         Section II.1 Recitals. Effective as of the date hereof, the reference
in the recitals to the Agreement to the dollar amount "One Hundred Ten Million
and No/100 Dollars ($110,000,000.00)" is hereby deleted and the reference to
the dollar amount "Eighty-Five Million and No/100 Dollars ($85,000,000.00)" is
inserted in lieu thereof.

         Section II.2 Definitions. (a) Effective as of the date hereof, the
definition "Loan Documents" is hereby amended and restated to read as follows:

                  "Loan Documents" means this Agreement, the Notes, the
         Guaranties, the Contribution and Indemnification Agreement, the
         Borrower Security Agreement, the Subsidiary Security Agreement, the
         Borrower Pledge Agreement, the Subsidiary Pledge

<PAGE>   3

         Agreement, the Real Property Security Documents and all other
         promissory notes, security agreements, assignments, deeds of trust,
         guaranties, and other instruments, documents, and agreements now or
         hereafter executed and delivered pursuant to or in connection with this
         Agreement, as such instruments, documents, and agreements may be
         amended, modified, renewed, extended, or supplemented from time to
         time.

         (b) Effective as of the date hereof, the following definitions are
added to Section 1.1 of the Agreement in appropriate alphabetical order:

                  "Borrower Pledge Agreement" means the Borrower Pledge
         Agreement of the Borrower in favor of the Agent for the benefit of the
         Lenders in substantially the form of Exhibit "G-1" hereto, as the same
         may be amended, supplemented, or modified.

                  "Borrower Security Agreement" means the Borrower Security
         Agreement of the Borrower in favor of the Agent for the benefit of the
         Lenders in substantially the form of Exhibit "F-1" hereto, as the same
         may be amended, supplemented, or modified.

                  "Collateral" means the property in which Liens have been
         granted to the Agent for the benefit of the Lenders pursuant to the
         Borrower Security Agreement, the Borrower Pledge Agreement, the
         Subsidiary Security Agreement, the Subsidiary Pledge Agreement, the
         Real Property Security Documents, or any other agreement, document, or
         instrument executed by the Borrower or a Guarantor in accordance with
         Section 8.13, whether such Liens are now existing or hereafter arise.

                  "Real Property" means the fee owned real property and
         interests in fee owned real property of the Borrower and the
         Subsidiaries, including without limitation, that fee owned real
         property identified on Schedule 1.1(c) attached hereto, and all
         improvements and fixtures thereon and all appurtenances thereto,
         whether now existing or hereinafter arising.

                  "Real Property Security Documents" means all deeds of trust,
         mortgages and other instruments, documents and agreements executed and
         delivered by the Borrower or any Guarantor in favor of the Agent for
         the benefit of the Lenders, which creates a Lien on such Person's
         interests in the Real Property, as the same may be amended,
         supplemented or modified.

                  "Subsidiary Pledge Agreement" means the Subsidiary Pledge
         Agreement of each Guarantor in favor of the Agent for the benefit of
         the Lenders in substantially the form of Exhibit "G-2" hereto, as the
         same may be amended, supplemented or modified.

                  "Subsidiary Security Agreement" means the Subsidiary Security
         Agreement of each Guarantor in favor of the Agent for the benefit of
         the Lenders in substantially the form of Exhibit "F-2" hereto, as the
         same may be amended, supplemented, or modified.

         Section II.3 Amendment to Pricing Table in Section 2.10. (a) Effective
as of May 15, 2000, the table set forth in Section 2.10 of the Agreement is
hereby amended and restated to read in its entirety as follows:

<TABLE>
<CAPTION>

        ================================== ======================== ===================== ===================

                  Leverage Ratio                  Commitment             Eurodollar            Base Rate
                                                      Fee                  Margin               Margin
        ---------------------------------- ------------------------ --------------------- -------------------

<S>                                         <C>                    <C>                  <C>
        Greater than or equal to 5.5 to             0.25%                  4.50%                2.50%
        1.0
        ---------------------------------- ------------------------ --------------------- -------------------

        Greater than or equal to 4.5 to             0.25%                  3.75%                1.75%
        1.0 but less than 5.5 to 1.0
        ---------------------------------- ------------------------ --------------------- -------------------

        Greater than or equal to 3.5 to             0.25%                  3.00%                 1.0%
        1.0 but less than 4.5 to 1.0
        ---------------------------------- ------------------------ --------------------- -------------------

        Greater than or equal to 3.0 to             0.25%                  2.000%                 0%
        1.0 but less than 3.5 to 1.0
        ---------------------------------- ------------------------ --------------------- -------------------

        Greater than or equal to 2.0 to             0.25%                  1.375%                 0%
        1.0 but less than 3.0 to 1.0
        ---------------------------------- ------------------------ --------------------- -------------------

        Less than 2.0 to 1.0                        0.25%                  1.00%                  0%
        ================================== ======================== ===================== ===================
</TABLE>

<PAGE>   4

         (b) Effective as of the date hereof, the following is added to the end
of Section 2.10 of the Agreement, to read as follows:

         Notwithstanding anything contained herein to the contrary, for the
         period beginning May 15, 2000 until the next Adjustment Date, the
         Commitment Fee, the Eurodollar Margin and the Base Rate Margin shall
         automatically be adjusted to the highest applicable percentage set
         forth in the grid above.

         Section II.4 Mandatory Reduction or Termination of Commitments.
Effective as of the date hereof, the following is added to the end of Section
2.11(b) of the Agreement, to read as follows:

         In addition, on the date the Borrower or any Subsidiary receives funds
         from mortgages on Real Property, the Commitments shall automatically
         be reduced by the amount of such funds received, which amount shall
         not be less than 75% of the appraisal value of such Real Property as
         determined by the appraisal described in Section 8.13(f) and the
         Borrower shall simultaneously prepay the amount by which the unpaid
         principal amount of the Advances plus the Letter of Credit Liabilities
         exceeds the Commitments (after giving effect to such reduction) plus
         accrued and unpaid interest on the principal amount so prepaid.

         Section II.5 Further Assurances. Effective as of the date hereof,
Section 8.10 of the Agreement is hereby amended and restated to read in its
entirety as follows:

                  Section 8.10 Further Assurances. The Borrower will, and will
         cause each Subsidiary to, execute and deliver such further agreements
         and instruments and take such further action as may be reasonably
         requested by the Agent to carry out the provisions and purposes of
         this Agreement and the other Loan Documents. Without limiting the
         foregoing, upon the creation or acquisition of any Subsidiary or a new
         store by a new Subsidiary or by an existing Subsidiary in a new state,
         the Borrower shall (a) provide written notice of such event to the
         Agent within five (5) Business Days following the date the Borrower
         has knowledge thereof, and (b) cause each such domestic Subsidiary to
         execute and deliver a Guaranty, a Contribution and Indemnification
         Agreement, a Subsidiary Security Agreement, a Subsidiary Pledge
         Agreement, Real Property Security Documents and Uniform Commercial
         Code financing statements and such other documents required by Section
         8.13, each in form and substance satisfactory to the Agent, within
         thirty (30) calendar days following the date the Borrower has
         knowledge thereof. If any Subsidiary is created or acquired after the
         date hereof, the Borrower shall execute and deliver to the Agent (a)
         an amendment to this Agreement to amend Schedule 7.14 to this
         Agreement (which only needs the signature of the Agent to be effective
         if the only change is the addition of the new Subsidiary and (b) any
         other documents which would have otherwise been required to be
         delivered to the Agent and the Lenders if such Subsidiary had been a
         Subsidiary as of March 31, 2000.

<PAGE>   5

         Section II.6 Post-Closing Items; Real Property Security Documents.
Effective as of the date hereof, a new Section 8.13 is hereby added to Article
VIII of to the Agreement to read in its entirety as follows:

                  Section 8.13 Post-Closing Items; Real Property Security
         Documents. The Borrower agrees that it shall, and shall cause each
         Significant Subsidiary, to:

                           (a) Use its best efforts to obtain and deliver to
                  the Agent on or before August 15, 2000 from each landlord of
                  each real property leased to the Borrower or any Subsidiary,
                  waivers or subordinations to the grant by the Borrower and
                  the Subsidiaries of a Lien to the Agent in the personal
                  property Collateral located on such leased real property, in
                  each case in form and substance reasonably satisfactory to
                  the Agent;

                           (b) Execute and deliver to the Agent on or before
                  July 7, 2000 Real Estate Security Documents, all in form and
                  substance reasonably satisfactory to the Agent, covering each
                  parcel of the Real Property, with a metes and bounds or other
                  description of each such parcel attached thereto sufficient
                  to permit the filing of such Real Property Security Documents
                  in the applicable real property records;

                           (c) Deliver to the Agent as soon as available but in
                  any event on or before June 30, 2000, with respect to each
                  parcel of the Real Property, a title insurance commitment
                  issued by a title insurance company selected by the Borrower
                  and reasonably acceptable to the Agent, and all documentation
                  evidencing any exceptions to title reflected thereon, all of
                  which shall be in form and substance reasonably satisfactory
                  to the Agent;

                           (d) Deliver to the Agent on or before August 31,
                  2000, with respect to each parcel of the Real Property, a
                  survey of such Real Property and certified by a licensed
                  surveyor selected by the Borrower and reasonably acceptable
                  to the Agent, in form and substance reasonably satisfactory
                  to the Agent;

                           (e) Deliver to the Agent as soon as available but in
                  any event on or before August 31, 2000, with respect to each
                  parcel of the Real Property, a phase I environmental report
                  for such Real Property, prepared by a third party
                  environmental engineer selected by the Borrower and
                  reasonably acceptable to the Agent;

                           (f) Deliver to the Agent as soon as available but in
                  any event on or before July 31, 2000, with respect to each
                  parcel of the Real Property, an appraisal for such Real
                  Property by a licensed appraiser selected by the Agent in
                  form and substance satisfactory to the Agent;

                           (g) Deliver to the Agent as soon as available but in
                  any event on or before September 30, 2000, with respect to
                  each parcel of the Real Property, a lender's title insurance
                  policy (together with any required endorsements thereto)
                  issued by a title insurer selected by the Borrower and
                  reasonably satisfactory to the Agent in an amount equal to
                  the fair market value of the underlying property as
                  determined by the appraisal described in subsection (f)
                  above; and

                           (h) Deliver to the Agent as soon as available but in
                  any event on or before June 15, 2000, certificates of the
                  appropriate government officials of each state in which
                  EZPAWN Alabama, Inc. is required to qualify to do business
                  and where failure to so qualify could reasonably be expected
                  to have a Material Adverse Effect, all dated after May 1,
                  2000.

<PAGE>   6

         Section II.7 Debt. Effective as of the date hereof, Section 9.1(c) of
the Agreement is hereby amended and restated to read as follows:

                  (c) Debt incurred in connection with refinancings secured by
         mortgages on Real Property described in Section 2.11(b), provided that
         proceeds from such Debt permanently reduce the Commitments pursuant to
         Section 2.11(b).

         Section II.8 Limitations on Liens. (a) Effective as of the date
hereof, (i) the word "and" appearing as the last word of Section 9.2(d) of the
Agreement is hereby deleted and (ii) Section 9.2(e) of the Agreement is hereby
amended and restated to read in its entirety as follows:

                  (e) Purchase money Liens securing Permitted Debt described in
         Section 9.1(b); provided that, the Debt secured by any such Lien
         encumbers only the assets so purchased; and

         (b) Effective as of the date hereof, a new Section 9.2(f) is hereby
added to Article IX of the Agreement to read in its entirety as follows:

                  (f) Liens securing Permitted Debt described in Section
         9.1(c); provided that, the Debt secured by any such Lien encumbers
         only the Real Property refinanced by such Permitted Debt.

         Section II.9 Restricted Payments. Effective as of the date hereof,
Section 9.4 of the Agreement is hereby amended and restated to read as follows:

                  Section 9.4 Restricted Payments. The Borrower will not
         declare or pay any dividends or make any other payment or distribution
         (whether in cash, property, or obligations) on account of its capital
         stock, or redeem, purchase, retire, or otherwise acquire any of its
         capital stock, or permit any of its Subsidiaries to purchase or
         otherwise acquire any capital stock of the Borrower or another
         Subsidiary, or set apart any money for a sinking or other analogous
         fund for any dividend or other distribution on its capital stock or
         for any redemption, purchase, retirement, or other acquisition of any
         of its capital stock.

         Section II.10 Investments. Effective as of the date hereof, Section 9.5
of the Agreement is hereby amended and restated to read as follows:

                  Section 9.5 Investments. The Borrower will not make, and will
         not permit any Subsidiary to make, any advance, loan, extension of
         credit, or capital contribution to or investment in, or purchase to
         own, or permit any Subsidiary to purchase or own, any stock, bonds,
         notes, debentures, or other securities of any Person, except:

                           (a) loans and investments listed on Schedule 9.5; and

                           (b) any loans and investments not covered in the
                  previous section of this Section 9.5 not to exceed One
                  Million Dollars ($1,000,000) in the aggregate.

         Section II.11 Dispositions of Assets. Effective as of the date hereof,
(a) the reference in Section 9.8(d) of the Agreement to the dollar amount
"Fifteen Million Dollars ($15,000,000)" is deleted and the reference to the
dollar amount "Seventeen Million Dollars ($17,000,000)" is inserted in lieu
thereof and (b) the reference in Section 9.8(d) of the Agreement to the date
"September 30, 1998" is deleted and the reference to the date "March 31, 2000"
is inserted in lieu thereof.

         Section II.12 Consolidated Net Worth. Effective as of the date hereof,
Section 10.1 of the Agreement is hereby amended and restated in its entirety to
read as follows:

<PAGE>   7

                  Section 10.1 Consolidated Net Worth. Beginning with the
         Fiscal Quarter ending March 31, 2000, the Borrower will at all times
         maintain Consolidated Net Worth in an amount not less than (a) One
         Hundred Fifteen Million Dollars ($115,000,000), plus (b) an amount
         equal to one hundred percent (100%) of Consolidated Net Income (not
         less than zero dollars [$0.00]) for all periods subsequent to the
         Fiscal Quarter ending March 31, 2000, plus (c) an amount equal to one
         hundred percent (100%) of the Net Proceeds of all equity offerings
         (including conversions of debt securities into common stock) of the
         Borrower subsequent to March 31, 2000.

         Section II.13 Capital Expenditures. Effective as of the date hereof,
Section 10.3 of the Agreement is hereby amended and restated in its entirety to
read as follows:

                  Section 10.3 Capital Expenditures. Borrower will not permit
         the aggregate amount of Capital Expenditures of the Borrower and the
         Subsidiaries to exceed (a) Eighteen Million Dollars ($18,000,000)
         during the Fiscal Year ending September 30, 2000 and (b) Five Million
         Dollars ($5,000,000) during any Fiscal Year thereafter.

         Section II.14 Events of Default. Effective as of the date hereof, the
reference in Section 11.1(c) of the Agreement to "Section 8.1" is deleted and
the reference to "Section 8.1, Section 8.13" is inserted in lieu thereof.

         Section II.15 Successor Agent. Effective as of the date hereof, a new
paragraph is hereby added to Section 12.7 of the Agreement to read as follows:

                  In the event that the Agent, for the benefit of itself and
         the Lenders, elects or is required to proceed with a foreclosure or
         other enforcement of any Lien granted to the Agent for the benefit of
         itself and the Lenders, the Agent may, without in any manner limiting
         its available remedies, and at the request of the Required Lenders
         shall, submit a bid for all Lenders (including itself) in the form of
         a credit against the Obligations, and the Agent or its designee, in
         the event that the Agent or its designee is the successful bidder at
         any such foreclosure sale, shall accept title, for the benefit of
         itself and the Lenders, to the Collateral sold at such foreclosure
         sale. The Collateral purchased at any such sale held shall be owned by
         the Agent, or its designee, for the benefit of the Lenders. All monies
         received or collected by the Agent in respect of the Collateral in
         connection with a foreclosure sale, or any other disposition of the
         Collateral, shall be paid to the Lenders pro-rata consistent with
         Section 4.4 hereof.

         Section II.16 Amendments. Effective as of the date hereof, (i) the
word "and" appearing as the last word of Section 13.10(f) of the Agreement is
hereby deleted, (ii) the period appearing at the end of Section 13.10(g) is
hereby amended to be a semi-colon followed by the word "and," and (iii) a new
Section 13.10(h) is hereby added to the Agreement to read: "(h) release any
Collateral securing the Obligations except in accordance with and as
contemplated by the Loan Documents."

         Section II.17 Reduction of Commitment. Effective as of the date hereof
the aggregate Commitment is hereby reduced from One Hundred Ten Million Dollars
($110,000,000) to Eight-Five Million Dollars ($85,000,000), and accordingly
Schedule 1.1(a) to the Agreement is hereby amended to read in the form attached
hereto as Schedule 1.1(a).

         Section II.18 Exhibits "F-1", "F-2", "G-1" and "G-2" and Schedules 9.1
and 9.5 to the Agreement. Effective as of the date hereof, all references in
the Agreement to "Exhibit 'F-1'", "Exhibit 'F-2'", "Exhibit 'G-1'", "Exhibit
'G-2'", "Schedule 9.1" and "Schedule 9.5" are deemed to refer to the Exhibit
"F-1", Exhibit "F-2", Exhibit "G-1", Exhibit "G-2", Schedule 9.1 and Schedule
9.5 attached hereto.

         Section II.19 Waiver. The Borrower has advised the Agent, the Issuing
Bank and the Lenders that (a) a violation of the Leverage Ratio covenant
contained in Section 10.2 of the Agreement occurred

<PAGE>   8

during the Fiscal Quarter ended March 31, 2000, and (b) a violation of the Fixed
Charge Coverage Ratio covenant contained in Section 10.5 of the Agreement
occurred during the Fiscal Quarter ended March 31, 2000 (collectively, the
"COVENANT DEFAULTS"). Effective as of the date hereof, the Required Lenders
hereby waive the Covenant Defaults.

                                   ARTICLE III

                              Conditions Precedent

         Section III.1 Condition. The effectiveness of this Amendment is subject
to the satisfaction of the following conditions precedent:

                  (a) Agent shall have received all of the following, each
         dated (unless otherwise indicated) the date of this Amendment, in form
         and substance satisfactory to the Agent:

                          (i) This Amendment executed by the Borrower, the
                  Agent, the Issuing Bank and the Required Lenders and consented
                  to by the Guarantors.

                         (ii) The Borrower Security Agreement (herein so
                  called) in the form attached hereto as Exhibit "F-1" executed
                  by the Borrower.

                        (iii) The Subsidiary Security Agreement (herein so
                  called) in the form attached hereto as Exhibit "F-2" executed
                  by the Guarantors.

                         (iv) The Borrower Pledge Agreement (herein so called)
                  in the form attached hereto as Exhibit "G-1" executed by the
                  Borrower.

                          (v) The Subsidiary Pledge Agreement (herein so called)
                  in the form attached hereto as Exhibit "G-2" executed by the
                  Guarantors.

                         (vi) UCC-1 Financing Statements (the "FINANCING
                  STATEMENTS") executed by the Borrower and the Guarantors in
                  connection with the Borrower Security Agreement, the
                  Subsidiary Security Agreement, the Borrower Pledge Agreement
                  and the Subsidiary Pledge Agreement.

                        (vii) Resolutions of the Board of Directors of Borrower
                  certified by its secretary or assistant secretary which
                  authorizes the execution, delivery and performance by
                  Borrower of this Amendment, the Borrower Security Agreement,
                  the Borrower Pledge Agreement, the Financing Statements and
                  the other Loan Documents executed in connection herewith.

                       (viii) A certificate of incumbency certified by the
                  secretary or the assistant secretary of Borrower certifying
                  the names of the officers thereof authorized to sign this
                  Amendment, the Borrower Security Agreement, the Borrower
                  Pledge Agreement, the Financing Statements and the other Loan
                  Documents together with specimen signatures of such officers.

                         (ix) Resolutions of the Board of Directors of each of
                  the Guarantors certified by its secretary or assistant
                  secretary which authorize the execution, delivery and
                  performance by each of the Guarantors of this Amendment, the
                  Subsidiary Security Agreement, the Subsidiary Pledge
                  Agreement, the Financing Statements and the other Loan
                  Documents executed in connection herewith.

                          (x) A certificate of incumbency certified by the
                  secretary or the assistant secretary of each Guarantor
                  certifying the names of the officers thereof authorized to
                  sign this Amendment, the Subsidiary Security Agreement, the
                  Subsidiary Pledge Agreement,

<PAGE>   9

                  the Financing Statements and the other Loan Documents together
                  with specimen signatures of such officers.

                         (xi) A bring down certificate of the Secretary or
                  Assistant Secretary of the Borrower and each Guarantor
                  certifying that the Articles of Incorporation (or Partnership
                  Agreement) and Bylaws have not been modified in any respect
                  from the copies thereof previously provided to the Agent and
                  the Lenders in connection with the Credit Agreement dated as
                  of December 10, 1998 among the Borrower, the Agent, the
                  Issuing Bank and the Lenders.

                        (xii) Certificates of the appropriate government
                  officials of the state of incorporation of the Borrower and
                  each Guarantor (and state of formation as to Texas EZPAWN
                  L.P. ("TELP")) as to the existence and good standing of the
                  Borrower and each Guarantor and certificates of the
                  appropriate government officials of each state in which the
                  Borrower and each Guarantor is required to qualify to do
                  business and where failure to so qualify could reasonably be
                  expected to have a Material Adverse Effect, all dated within
                  ten (10) days of May 15, 2000.

                        (xiii) A favorable opinion of Sheinfeld, Maley & Kay,
                  P.C., legal counsel to the Borrower and each Guarantor
                  satisfactory to the Agent as to such matters as the Agent may
                  reasonably request.

                  (b) No Default. No Default (other than the Covenant Defaults)
         shall have  occurred and be continuing.

                  (c) Representations and Warranties. All of the
         representations and warranties contained in Article VII of the
         Agreement, as amended hereby and in the other Loan Documents shall be
         true and correct on and as of the date of this Amendment with the same
         force and effect as if such representations and warranties had been
         made on and as of such date, except to the extent such representations
         and warranties speak to a specific date.

                  (d) Waiver and Amendment Fee. Borrower shall have paid to the
         Agent for the account of the Lenders executing this Amendment a waiver
         of default and amendment fee in an amount equal to 0.10% of such
         Lender's Commitment as reduced by Section 2.17 of this Amendment.

                                   ARTICLE IV

                  Ratifications, Representations and Warranties

         Section IV.1 Ratifications. The terms and provisions set forth in this
Amendment shall modify and supersede all inconsistent terms and provisions set
forth in the Agreement and except as expressly modified and superseded by this
Amendment, the terms and provisions of the Agreement and the other Loan
Documents are ratified and confirmed and shall continue in full force and
effect. Borrower, Required Lenders, Issuing Bank and Agent agree that the
Agreement as amended hereby and the other Loan Documents shall continue to be
legal, valid, binding and enforceable in accordance with their respective
terms.

         Section IV.2 Representations and Warranties. Borrower hereby
represents and warrants to Lenders, Agent and Issuing Bank that (i) the
execution, delivery and performance of this Amendment and any and all other
Loan Documents executed and/or delivered in connection herewith have been
authorized by all requisite corporate action on the part of Borrower and will
not violate the articles of incorporation or bylaws of Borrower, (ii) the
representations and warranties contained in the Agreement, as amended hereby,
and any other Loan Document are true and correct on and as of the date hereof
as though made on and as of the date hereof, except to the extent such
representations and warranties speak to a specific date, (iii) no Event of
Default (other than the Covenant Defaults) has occurred and is continuing and
no event or condition has occurred that with the giving of notice or lapse of
time or both

<PAGE>   10

would be an Event of Default, (iv) Borrower is in full compliance with all
covenants and agreements contained in the Agreement as amended hereby, (v) the
Borrower has no Subsidiaries other than those listed on Schedule 7.14 to the
Agreement. All of the outstanding capital stock of each corporate Subsidiary has
been validly issued, is fully paid and is nonassessable.

                                    ARTICLE V

                                  Miscellaneous

         Section V.1 Survival of Representations and Warranties. All
representations and warranties made in this Amendment or any other Loan
Document including any Loan Document furnished in connection with this
Amendment shall survive the execution and delivery of this Amendment and the
other Loan Documents, and no investigation by Lenders, Agent or Issuing Bank or
any closing shall affect the representations and warranties or the right of
Lenders or Agent or Issuing Bank to rely upon them.

         Section V.2 Reference to Agreement. Each of the Loan Documents,
including the Agreement and any and all other agreements, documents, or
instruments now or hereafter executed and delivered pursuant to the terms
hereof or pursuant to the terms of the Agreement as amended hereby, are hereby
amended so that any reference in such Loan Documents to the Agreement shall
mean a reference to the Agreement as amended hereby.

         Section V.3 Severability. Any provision of this Amendment held by a
court of competent jurisdiction to be invalid or unenforceable shall not impair
or invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.

         Section V.4 Applicable Law. This Amendment and all other Loan
Documents executed pursuant hereto shall be deemed to have been made and to be
performable in Austin, Travis County, Texas and shall be governed by and
construed in accordance with the laws of the State of Texas.

         Section V.5 Successors and Assigns. This Amendment is binding upon and
shall inure to the benefit of Lenders, Agent, Issuing Bank and Borrower and
their respective successors and assigns, except Borrower may not assign or
transfer any of its rights or obligations hereunder without the prior written
consent of Banks.

         Section V.6 Counterparts. This Amendment may be executed in one or
more counterparts, each of which when so executed shall be deemed to be an
original, but all of which when taken together shall constitute one and the
same instrument. Signatures transmitted by facsimile shall be effective as
originals.

         Section V.7 ENTIRE AGREEMENT. THIS AMENDMENT AND ALL OTHER
INSTRUMENTS, DOCUMENTS AND AGREEMENTS EXECUTED AND DELIVERED IN CONNECTION WITH
THIS AMENDMENT EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND
SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND
UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THIS AMENDMENT, AND MAY
NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO
ORAL AGREEMENTS AMONG THE PARTIES HERETO.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>   11

         Executed as of the date first written above.

                                   BORROWER:

                                   EZCORP, INC.

                                   By:
                                      ------------------------------------------
                                         Daniel N. Tonissen
                                         Chief Financial Officer

                                   Address for Notices:

                                   1901 Capital Parkway
                                   Austin, TX  78746
                                   Fax No.: (512) 314-3402
                                   Telephone No.: (512) 329-5233
                                   Attention:       Dan Tonissen
                                                    Chief Financial Officer

<PAGE>   12

                                     AGENT AND ISSUING BANK:

                                     WELLS FARGO BANK TEXAS, NATIONAL
                                        ASSOCIATION

                                     By:
                                        -------------------------------------
                                           Keith Smith
                                           Vice President

                                     Address for Notices:

                                     111 Congress Avenue, Suite 300
                                     Austin, TX  78701
                                     Fax No.: (512) 344-7318
                                     Telephone No.: (512) 344-7011
                                     Attention:       Keith Smith

                                     LENDERS:

                                     WELLS FARGO BANK TEXAS, NATIONAL
                                        ASSOCIATION

                                     By:
                                        -------------------------------------
                                           Keith Smith
                                           Vice President

                                     Address for Notices:

                                     111 Congress Avenue, Suite 300
                                     Austin, TX  78701
                                     Fax No.: (512) 344-7318
                                     Telephone No.: (512) 344-7011
                                     Attention:       Keith Smith

                                     Lending Office for Prime Rate Advances
                                        and Eurodollar Advances
                                     111 Congress Avenue
                                     Austin, Texas  78701

<PAGE>   13

                                     BANK ONE, TEXAS, NATIONAL ASSOCIATION

                                     By:
                                        -------------------------------------
                                           Name:
                                                -----------------------------
                                           Title:
                                                 ----------------------------

                                     Address for Notices:

                                     221 W. Sixth Street, Suite 219
                                     Austin, TX  78701
                                     Fax No.: (512) 479-5720
                                     Telephone No.: (512) 479-5783
                                     Attention:       Chris Calvert

                                     Lending Office for Prime Rate Advances
                                        and Eurodollar Advances
                                     221 W. Sixth Street, Suite 219
                                     Austin, Texas  78701

<PAGE>   14

                                     GUARANTY FEDERAL BANK, F.S.B.

                                     By:
                                        -------------------------------------
                                           Name:
                                                -----------------------------
                                           Title:
                                                 ----------------------------

                                     Address for Notices:

                                     301 Congress, Suite 1500
                                     Austin, TX  78701
                                     Attention: Chris Harkrider
                                     Fax No.: (512) 320-1041
                                     Telephone No.: (512) 320-1205

                                     Lending Office for Prime Rate Advances
                                        and Eurodollar Advances
                                     8333 Douglas Avenue
                                     Dallas, TX  75255

<PAGE>   15

                                     COMERICA BANK-TEXAS

                                     By:
                                        -------------------------------------
                                           Name:
                                                -----------------------------
                                           Title:
                                                 ----------------------------

                                     Address for Notices:

                                     P.O. Box 2727
                                     Austin, Texas  78768
                                     Fax No.:  (512) 427-7120
                                     Telephone No.:  (512) 427-7121
                                     Attention:  Mark Hensley

                                     and

                                     1601 West Elm Street
                                     Thanksgiving Tower, 4th Floor
                                     P.O. Box 650282
                                     Dallas, Texas  75265-0282
                                     Telephone No.:  (214) 969-6472
                                     Attention:  Gary Orr, Chief Credit Officer

                                     Lending Office for Prime Rate Advances
                                        and Eurodollar Advances
                                     804 Congress Avenue
                                     Suite 320
                                     Austin, Texas  78701

<PAGE>   16

                                     CHASE BANK OF TEXAS, NATIONAL ASSOCIATION

                                     By:
                                        -------------------------------------
                                           Name:
                                                -----------------------------
                                           Title:
                                                 ----------------------------

                                     Address for Notices

                                     700 Lavaca, 2nd Floor
                                     Austin, Texas  78701
                                     Fax No.:  (512) 479-2814
                                     Telephone No.:  (512) 479-2244
                                     Attention:  Blake Beavers

                                     Lending Office for Prime Rate Advances
                                        and Eurodollar Advances
                                     700 Lavaca, 2nd Floor
                                     Austin, Texas  78701

<PAGE>   17

         Guarantors hereby consent and agree to this Amendment and agree that
each Guaranty shall remain in full force and effect and shall continue to (i)
guarantee the Obligations, and (ii) be the legal, valid and binding obligation
of Guarantors enforceable against Guarantors in accordance with their
respective terms.

                                     GUARANTORS:

                                     EZPAWN ALABAMA, INC.
                                     EZPAWN ARKANSAS, INC.
                                     EZPAWN COLORADO, INC.
                                     EZPAWN FLORIDA, INC.
                                     EZPAWN GEORGIA, INC.
                                     EZPAWN HOLDINGS, INC.
                                     EZPAWN INDIANA, INC.
                                     EZPAWN LOUISIANA, INC.
                                     EZPAWN NEVADA, INC.
                                     EZPAWN NORTH CAROLINA, INC.
                                     EZPAWN OKLAHOMA, INC.
                                     EZPAWN TENNESSEE, INC.
                                     TEXAS EZPAWN MANAGEMENT, INC.
                                     EZ CAR SALES, INC.
                                     EZPAWN CONSTRUCTION, INC.
                                     EZPAWN KANSAS, INC.
                                     EZPAWN KENTUCKY, INC.
                                     EZPAWN MISSOURI, INC.
                                     EZPAWN SOUTH CAROLINA, INC.
                                     EZCORP INTERNATIONAL, INC.
                                     EZ MONEY NORTH CAROLINA, INC.

                                     By:
                                        ---------------------------------------
                                            Daniel N. Tonissen
                                            Senior Vice President

                                     TEXAS EZPAWN L.P.

                                     By:      TEXAS EZPAWN MANAGEMENT, INC.,
                                                  its sole general partner

                                                  By:
                                                     --------------------------
                                                       Daniel N. Tonissen
                                                       Senior Vice President<PAGE>   1
                                                                    EXHIBIT 10.1

                            VAST SOLUTIONS, INC. 2000
                         LONG-TERM STOCK INCENTIVE PLAN

                                    SECTION 1
                                     GENERAL

         1.1. Purpose. The Vast Solutions, Inc. 2000 Long-Term Stock Incentive
Plan (the "Plan") has been established by Vast Solutions, Inc. (the "Company")
to (i) attract and retain persons eligible to participate in the Plan; (ii)
motivate Participants, by means of appropriate incentives, to achieve long-range
goals; (iii) provide incentive compensation opportunities that are competitive
with those of other similar companies; and (iv) further identify Participants'
interests with those of the Company's other shareholders through compensation
that is based on the Company's common stock; and thereby promote the long-term
financial interest of the Company and the Subsidiaries, including the growth in
value of the Company's equity and enhancement of long-term shareholder return.

         1.2. Participation. Subject to the terms and conditions of the Plan,
the Committee shall determine and designate, from time to time, from among the
Eligible Persons (including transferees of Eligible Persons to the extent the
transfer is permitted by the Plan and the applicable Award Agreement), those
persons who will be granted one or more Awards under the Plan, and thereby
become "Participants" in the Plan.

         1.3. Operation, Administration, and Definitions. The operation and
administration of the Plan, including the Awards made under the Plan, shall be
subject to the provisions of Section 4 (relating to operation and
administration). Capitalized terms in the Plan shall be defined as set forth in
the Plan (including the definition provisions of Section 8 of the Plan). The
terms of this Plan shall be subject to the restrictions and limitations set
forth in Appendix A to this Plan, which is attached to and forms a part of the
Plan.

                                    SECTION 2
                                OPTIONS AND SARS

         2.1.  Definitions.

(a)      The grant of an "Option" entitles the Participant to purchase shares of
         Stock at an Exercise Price established by the Committee. Any Option
         granted under this Section 2 may be either an incentive stock option
         (an "ISO") or a non-qualified option (an "NQO"), as determined in the
         discretion of the Committee. An "ISO" is an Option that is intended to
         satisfy the requirements applicable to an "incentive stock option"
         described in section 422(b) of the Code. An "NQO" is an Option that is
         not intended to be an "incentive stock option" as that term is
         described in section 422(b) of the Code.

<PAGE>   2
(b)      A stock appreciation right (an "SAR") entitles the Participant to
         receive, in cash or Stock (as determined in accordance with subsection
         2.5), value equal to (or otherwise based on) the excess of: (a) the
         Fair Market Value of a specified number of shares of Stock at the time
         of exercise; over (b) an Exercise Price established by the Committee.

         2.2. Exercise Price. The "Exercise Price" of each Option and SAR
granted under this Section 2 shall be established by the Committee or shall be
determined by a method established by the Committee at the time the Option or
SAR is granted; provided that, for NQOs and SARs, the Exercise Price shall not
be less than 85% of the Fair Market Value of a share of Stock on the date of
grant, and for ISOs, the Exercise Price shall not be less than 100% of the Fair
Market Value of a share of Stock on the date of grant; and further provided that
the Exercise Price for an Option or SAR with respect to a share of Stock shall
not be less than the par value of a share of Stock.

         2.3. Exercise. An Option and an SAR shall be exercisable in accordance
with such terms and conditions and during such periods as may be established by
the Committee.

         2.4. Payment of Option Exercise Price. The payment of the Exercise
Price of an Option granted under this Section 2 shall be subject to the
following:

(a)      Subject to the following provisions of this subsection 2.4, the full
         Exercise Price for shares of Stock purchased upon the exercise of any
         Option shall be paid at the time of such exercise (except that, in the
         case of an exercise arrangement approved by the Committee and described
         in paragraph 2.4(c), payment may be made as soon as practicable after
         the exercise).

(b)      The Exercise Price shall be payable in cash or by tendering, by either
         actual delivery of shares or by attestation, shares of Stock acceptable
         to the Committee, and valued at Fair Market Value as of the day of
         exercise, or in any combination thereof, as determined by the
         Committee.

(c)      The Committee may permit a Participant to elect to pay the Exercise
         Price upon the exercise of an Option by irrevocably authorizing a third
         party to sell shares of Stock (or a sufficient portion of the shares)
         acquired upon exercise of the Option and remit to the Company a
         sufficient portion of the sale proceeds to pay the entire Exercise
         Price and any tax withholding resulting from such exercise.

         2.5. Settlement of Award. Settlement of Options and SARs is subject to
subsection 4.7.

                                      -2-
<PAGE>   3
                                    SECTION 3
                               OTHER STOCK AWARDS

         3.1.  Definitions.

(a)      A "Stock Unit" Award is the grant of a right to receive shares of Stock
         in the future.

(b)      A "Performance Share" Award is a grant of a right to receive shares of
         Stock or Stock Units which is contingent on the achievement of
         performance or other objectives during a specified period.

(c)      A "Performance Unit" Award is a grant of a right to receive a
         designated dollar value amount of Stock which is contingent on the
         achievement of performance or other objectives during a specified
         period.

(d)      A "Restricted Stock" Award is a grant of shares of Stock, and a
         "Restricted Stock Unit" Award is the grant of a right to receive shares
         of Stock in the future, with such shares of Stock or right to future
         delivery of such shares of Stock subject to a risk of forfeiture or
         other restrictions that will lapse upon the achievement of one or more
         goals relating to completion of service by the Participant, or
         achievement of performance or other objectives, as determined by the
         Committee.

         3.2. Restrictions on Awards. Each Stock Unit Award, Restricted Stock
Award, Restricted Stock Unit Award, Performance Share Award, and Performance
Unit Award shall be subject to such conditions, restrictions and contingencies
as the Committee shall determine.

                                    SECTION 4
                          OPERATION AND ADMINISTRATION

         4.1. Effective Date. Subject to the approval of the shareholder of the
Company, the Plan shall be effective as of February 16, 2000 (the "Effective
Date"); provided, however, that to the extent that Awards are granted under the
Plan prior to its approval by shareholder, the Awards shall be contingent on
approval of the Plan by the shareholders of the Company. The Plan shall be
unlimited in duration and, in the event of Plan termination, shall remain in
effect as long as any Awards under it are outstanding; provided, however, that
no Awards may be granted under the Plan after the ten-year anniversary of the
Effective Date (except for Awards granted pursuant to commitments entered into
prior to such ten-year anniversary).

         4.2. Shares Subject to Plan. The shares of Stock for which Awards may
be granted under the Plan shall be subject to the following:

(a)      The shares of Stock with respect to which Awards may be made under the
         Plan shall be shares currently authorized but unissued or currently
         held or subsequently acquired by

                                      -3-
<PAGE>   4
         the Company as treasury shares, including shares purchased in the open
         market or in private transactions.

(b)      Subject to the following provisions of this subsection 4.2, the maximum
         number of shares of Stock that may be delivered to Participants and
         their beneficiaries under the Plan shall be 5,000,000 shares of Stock.

(c)      To the extent provided by the Committee, any Award may be settled in
         cash rather than Stock. To the extent any shares of Stock covered by an
         Award are not delivered to a Participant or beneficiary because the
         Award is forfeited or canceled, or the shares of Stock are not
         delivered because the Award is settled in cash or used to satisfy the
         applicable tax withholding obligation, such shares shall not be deemed
         to have been delivered for purposes of determining the maximum number
         of shares of Stock available for delivery under the Plan.

(d)      If the exercise price of any stock option granted under the Plan is
         satisfied by tendering shares of Stock to the Company (by either actual
         delivery or by attestation), only the number of shares of Stock issued
         net of the shares of Stock tendered shall be deemed delivered for
         purposes of determining the maximum number of shares of Stock available
         for delivery under the Plan.

(e)      Subject to paragraph 4.2(g), the maximum number of shares of Stock that
         may be issued by Options intended to be ISOs shall be 5,000,000 shares.

(f)      Subject to paragraph 4.2(g), the maximum number of shares that may be
         covered by Awards granted to any one individual pursuant to Section 2
         (relating to Options and SARs) shall be 5,000,000 shares during any one
         calendar-year period. If an Option is in tandem with an SAR, such that
         the exercise of the Option or SAR with respect to a share of Stock
         cancels the tandem SAR or Option right, respectively, with respect to
         such share, the tandem Option and SAR rights with respect to each share
         of Stock shall be counted as covering but one share of Stock for
         purposes of applying the limitations of this paragraph (f).

(g)      In the event of a corporate transaction involving the Company
         (including, without limitation, any stock dividend, stock split,
         extraordinary cash dividend, recapitalization, reorganization, merger,
         consolidation, split-up, spin-off, combination or exchange of shares),
         the Committee may adjust Awards to preserve the benefits or potential
         benefits of the Awards. Action by the Committee may include: (i)
         adjustment of the number and kind of shares which may be delivered
         under the Plan; (ii) adjustment of the number and kind of shares
         subject to outstanding Awards; (iii) adjustment of the Exercise Price
         of outstanding Options and SARs; and (iv) any other adjustments that
         the Committee determines to be equitable.

                                      -4-
<PAGE>   5
         4.3. General Restrictions. Delivery of shares of Stock or other amounts
under the Plan shall be subject to the following:

(a)      Notwithstanding any other provision of the Plan, the Company shall have
         no liability to deliver any shares of Stock under the Plan or make any
         other distribution of benefits under the Plan unless such delivery or
         distribution would comply with all applicable laws (including, without
         limitation, the requirements of the Securities Act of 1933), and the
         applicable requirements of any securities exchange or similar entity.

(b)      To the extent that the Plan provides for issuance of stock certificates
         to reflect the issuance of shares of Stock, the issuance may be
         effected on a non-certificated basis, to the extent not prohibited by
         applicable law or the applicable rules of any stock exchange.

         4.4. Tax Withholding. All distributions under the Plan are subject to
withholding of all applicable taxes, and the Committee may condition the
delivery of any shares or other benefits under the Plan on satisfaction of the
applicable withholding obligations. The Committee, in its discretion, and
subject to such requirements as the Committee may impose prior to the occurrence
of such withholding, may permit such withholding obligations to be satisfied
through cash payment by the Participant, through the surrender of shares of
Stock which the Participant already owns, or through the surrender of shares of
Stock to which the Participant is otherwise entitled under the Plan.

         4.5. Grant and Use of Awards. In the discretion of the Committee, a
Participant may be granted any Award permitted under the provisions of the Plan,
and more than one Award may be granted to a Participant. Awards may be granted
as alternatives to or replacement of awards granted or outstanding under the
Plan, or any other plan or arrangement of the Company or a Subsidiary (including
a plan or arrangement of a business or entity, all or a portion of which is
acquired by the Company or a Subsidiary). Subject to the overall limitation on
the number of shares of Stock that may be delivered under the Plan, the
Committee may use available shares of Stock as the form of payment for
compensation, grants or rights earned or due under any other compensation plans
or arrangements of the Company or a Subsidiary, including the plans and
arrangements of the Company or a Subsidiary assumed in business combinations.

         4.6. Dividends and Dividend Equivalents. An Award (including without
limitation an Option or SAR Award) may provide the Participant with the right to
receive dividend payments or dividend equivalent payments with respect to Stock
subject to the Award (both before and after the Stock subject to the Award is
earned, vested, or acquired), which payments may be either made currently or
credited to an account for the Participant, and may be settled in cash or Stock,
as determined by the Committee. Any such settlements, and any such crediting of
dividends or dividend equivalents or reinvestment in shares of Stock, may be
subject to such conditions, restrictions and contingencies as the Committee
shall establish, including the reinvestment of such credited amounts in Stock
equivalents.

                                      -5-
<PAGE>   6
         4.7. Settlement of Awards. The obligation to make payments and
distributions with respect to Awards may be satisfied through cash payments, the
delivery of shares of Stock, the granting of replacement Awards, or combination
thereof as the Committee shall determine. Satisfaction of any such obligations
under an Award, which is sometimes referred to as "settlement" of the Award, may
be subject to such conditions, restrictions and contingencies as the Committee
shall determine. The Committee may permit or require the deferral of any Award
payment, subject to such rules and procedures as it may establish, which may
include provisions for the payment or crediting of interest or dividend
equivalents, and may include converting such credits into deferred Stock
equivalents. Each Subsidiary shall be liable for payment of cash due under the
Plan with respect to any Participant to the extent that such benefits are
attributable to the services rendered for that Subsidiary by the Participant.
Any disputes relating to liability of a Subsidiary for cash payments shall be
resolved by the Committee.

         4.8. Transferability. Awards under the Plan are not transferable except
as designated by the Participant by will or by the laws of descent and
distribution.

         4.9. Form and Time of Elections. Unless otherwise specified herein,
each election required or permitted to be made by any Participant or other
person entitled to benefits under the Plan, and any permitted modification, or
revocation thereof, shall be in writing filed with the Committee at such times,
in such form, and subject to such restrictions and limitations, not inconsistent
with the terms of the Plan, as the Committee shall require.

         4.10. Agreement With Company. An Award under the Plan shall be subject
to such terms and conditions, not inconsistent with the Plan, as the Committee
shall, in its sole discretion, prescribe. The terms and conditions of any Award
to any Participant shall be reflected in such form of written document as is
determined by the Committee. A copy of such document shall be provided to the
Participant, and the Committee may, but need not require that the Participant
sign a copy of such document. Such document is referred to in the Plan as an
"Award Agreement" regardless of whether any Participant signature is required.

         4.11. Action by Company or Subsidiary. Any action required or permitted
to be taken by the Company or any Subsidiary shall be by resolution of its board
of directors, or by action of one or more members of the board (including a
committee of the board) who are duly authorized to act for the board, or (except
to the extent prohibited by applicable law or applicable rules of any stock
exchange) by a duly authorized officer of such company.

         4.12. Gender and Number. Where the context admits, words in any gender
shall include any other gender, words in the singular shall include the plural
and the plural shall include the singular.

                                      -6-
<PAGE>   7
         4.13.  Limitation of Implied Rights.

(a)      Neither a Participant nor any other person shall, by reason of
         participation in the Plan, acquire any right in or title to any assets,
         funds or property of the Company or any Subsidiary whatsoever,
         including, without limitation, any specific funds, assets, or other
         property which the Company or any Subsidiary, in its sole discretion,
         may set aside in anticipation of a liability under the Plan. A
         Participant shall have only a contractual right to the Stock or
         amounts, if any, payable under the Plan, unsecured by any assets of the
         Company or any Subsidiary, and nothing contained in the Plan shall
         constitute a guarantee that the assets of the Company or any Subsidiary
         shall be sufficient to pay any benefits to any person.

(b)      The Plan does not constitute a contract of employment, and selection as
         a Participant will not give any participating employee the right to be
         retained in the employ of the Company or any Subsidiary, nor any right
         or claim to any benefit under the Plan, unless such right or claim has
         specifically accrued under the terms of the Plan. Except as otherwise
         provided in the Plan, no Award under the Plan shall confer upon the
         holder thereof any rights as a shareholder of the Company prior to the
         date on which the individual fulfills all conditions for receipt of
         such rights.

         4.14. Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information which the person acting on
it considers pertinent and reliable, and signed, made or presented by the proper
party or parties.

                                    SECTION 5
                                CHANGE IN CONTROL

         Subject to the provisions of paragraph 4.2(g) (relating to the
adjustment of shares), and except as otherwise provided in the Plan or the Award
Agreement reflecting the applicable Award:

(a)      If a Participant who is employed by the Company or a Subsidiary at the
         time of a Change in Control then holds one or more outstanding Options,
         all such Options (regardless of whether in tandem with SARs) then held
         by the Participant shall become fully exercisable on and after the date
         of the Change in Control (subject to the expiration provisions
         otherwise applicable to the Options), and any Stock purchased by the
         Participant under such Option following such Change in Control shall be
         fully vested upon exercise.

(b)      If a Participant who is employed by the Company or a Subsidiary at the
         time of a Change in Control then holds one or more outstanding SARs,
         all such SARs (regardless of whether in tandem with Options) then held
         by the Participant shall become fully exercisable on and after the date
         of the Change in Control (subject to the expiration

                                      -7-
<PAGE>   8
         provisions otherwise applicable to the SARs), and any cash or stock
         acquired by the Participant under such SAR following such Change in
         Control shall be fully vested upon exercise.

(c)      If a Participant who is employed by the Company or a Subsidiary at the
         time of a Change in Control then holds one or more Stock Units,
         Restricted Stock, Restricted Stock Units, Performance Shares, or
         Performance Units, all such Restricted Stock, Performance Shares, and
         units shall become fully vested on the date of the Change in Control;
         provided that, if the amount of the award or the vesting is to be
         determined based on the level of performance achieved, the target level
         of performance shall be deemed to have been achieved.

                                    SECTION 6
                                    COMMITTEE

         6.1. Administration. The authority to control and manage the operation
and administration of the Plan shall be vested in a committee (the "Committee")
in accordance with this Section 6. The Committee shall be selected by the Board.
If the Committee does not exist, or for any other reason determined by the
Board, the Board may take any action under the Plan that would otherwise be the
responsibility of the Committee.

         6.2. Powers of Committee. The Committee's administration of the Plan
shall be subject to the following:

(a)      Subject to the provisions of the Plan, the Committee will have the
         authority and discretion to select from among the Eligible Persons
         those persons who shall receive Awards, to determine the time or times
         of receipt, to determine the types of Awards and the number of shares
         covered by the Awards, to establish the terms, conditions, performance
         criteria, restrictions, and other provisions of such Awards, and
         (subject to the restrictions imposed by Section 7) to cancel or suspend
         Awards.

(b)      To the extent that the Committee determines that the restrictions
         imposed by the Plan preclude the achievement of the material purposes
         of the Awards in jurisdictions outside the United States, the Committee
         will have the authority and discretion to modify those restrictions as
         the Committee determines to be necessary or appropriate to conform to
         applicable requirements or practices of jurisdictions outside of the
         United States.

(c)      The Committee will have the authority and discretion to interpret the
         Plan, to establish, amend, and rescind any rules and regulations
         relating to the Plan, to determine the terms and provisions of any
         Award Agreement made pursuant to the Plan, and to make all other
         determinations that may be necessary or advisable for the
         administration of the Plan.

(d)      Any interpretation of the Plan by the Committee and any decision made
         by it under the Plan is final and binding on all persons.

                                      -8-
<PAGE>   9
(e)      In controlling and managing the operation and administration of the
         Plan, the Committee shall take action in a manner that conforms to the
         articles and by-laws of the Company, and applicable state corporate
         law.

         6.3. Delegation by Committee. Except to the extent prohibited by
applicable law or the applicable rules of a stock exchange, the Committee may
allocate all or any portion of its responsibilities and powers to any one or
more of its members and may delegate all or any part of its responsibilities and
powers to any person or persons selected by it. Any such allocation or
delegation may be revoked by the Committee at any time.

         6.4. Information to be Furnished to Committee. The Company and
Subsidiaries shall furnish the Committee with such data and information as it
determines may be required for it to discharge its duties. The records of the
Company and Subsidiaries as to an employee's or Participant's employment,
termination of employment, leave of absence, reemployment and compensation shall
be conclusive on all persons unless determined to be incorrect. Participants and
other persons entitled to benefits under the Plan must furnish the Committee
such evidence, data or information as the Committee considers desirable to carry
out the terms of the Plan.

                                    SECTION 7
                            AMENDMENT AND TERMINATION

         The Board may, at any time, amend or terminate the Plan, provided that
no amendment or termination may, in the absence of written consent to the change
by the affected Participant (or, if the Participant is not then living, the
affected beneficiary), adversely affect the rights of any Participant or
beneficiary under any Award granted under the Plan prior to the date such
amendment is adopted by the Board; and further provided that adjustments
pursuant to paragraph 4.2(g) shall not be subject to the foregoing limitations
of this Section 7.

                                    SECTION 8
                                  DEFINED TERMS

         In addition to the other definitions contained herein, the following
definitions shall apply:

(a)      Award. The term "Award" shall mean any award or benefit granted under
         the Plan, including, without limitation, the grant of Options, SARs,
         Stock Unit Awards, Restricted Stock Awards, Restricted Stock Unit
         Awards, Performance Unit Awards, and Performance Share Awards.

(b)      Board. The term "Board" shall mean the Board of Directors of the
         Company.

(c)      Change in Control. For purposes of the Plan, the term "Change in
         Control" means the occurrence, after the consummation of the
         transactions contemplated by the Agreement and Plan of Merger among
         Paging Network, Inc., Arch Communications Group, Inc. and

                                      -9-
<PAGE>   10
         St. Louis Acquisition Corp., dated November 7, 1999, of the events
         described in any of paragraphs (i), (ii), (iii), or (iv) below:

         (i) The acquisition by any individual, entity or group (within the
         meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
         of 1934, as amended (the "Exchange Act")) (a "Person") of beneficial
         ownership (within the meaning of Rule 13d-3 promulgated under the
         Exchange Act) of any shares of Stock or any voting securities of the
         Company entitled to vote generally in the election of directors
         ("Voting Securities") if, immediately after such acquisition, such
         person beneficially owns twenty-five percent (25%) or more of either
         the outstanding shares of common stock, of whatever class, of the
         Company (the "Outstanding Company Common Stock"), or the combined
         voting power of the outstanding Voting Securities (the "Outstanding
         Company Voting Securities"). The foregoing provisions of this paragraph
         (i) shall be subject to the following:

         (A)      The following shall not constitute a "Change in Control": (I)
                  any acquisition by an employee benefit plan (or related trust)
                  sponsored or maintained by the Company or any corporation
                  controlled by the Company (a "Company Plan"); (II) any
                  acquisition by an underwriter temporarily holding securities
                  pursuant to an offering of such securities; or (III) any
                  acquisition by any person pursuant to a transaction which
                  complies with subsections (c)(iii)(A), (c)(iii)(B), and
                  (c)(iii)(C) of this definition.

         (B)      For purposes of the foregoing provisions of this subsection
                  (i), the following shall not be deemed to constitute an
                  "acquisition" by any Person: (I) any acquisition directly from
                  the Company (excluding any acquisition resulting from the
                  exercise of an exercise, conversion, or exchange privilege
                  unless the security being so exercised, converted, or
                  exchanged was acquired directly from the Company); and (II)
                  any acquisition by the Company of shares of Stock or other
                  Voting Securities.

         (ii) Individuals who, as of the date hereof, constitute the Board (for
         purposes of this paragraph (ii), the "Incumbent Board") cease for any
         reason to constitute at least a majority of the Incumbent Board;
         provided, however, that any individual becoming a director subsequent
         to the date hereof whose election, or nomination for election by the
         Company shareholders, was approved by a vote of a least a majority of
         the directors then comprising the Incumbent Board shall be considered
         as though such individual were a member of the Incumbent Board, but
         excluding, for this purpose, any such individual whose initial
         assumption of office occurs as a result of an actual or publicly
         threatened election contest (as such terms are used in Rule 14a-11
         promulgated under the Exchange Act) or other actual or publicly
         threatened solicitation of proxies or consents by or on behalf of a
         Person other than the Board.

                                      -10-
<PAGE>   11
         (iii) Consummation of (I) a reorganization, merger, consolidation, or
         other business combination involving the Company or (II) the sale or
         other disposition of more than 50% of the operating assets of the
         Company (determined on a consolidated basis), other than in connection
         with a sale-leaseback or other arrangement resulting in the continued
         utilization of such assets (or the operating products of such assets)
         by the Company (any transaction described in part (I) or (II) being
         referred to as a "Corporate Transaction"); excluding, however, a
         Corporate Transaction pursuant to which all of paragraphs (A), (B), and
         (C) below are applicable:

         (A)      All or substantially all of the individuals and entities who
                  are the beneficial owners, respectively, of the Outstanding
                  Company Common Stock and Outstanding Company Voting Securities
                  immediately prior to such Corporate Transaction beneficially
                  own, directly or indirectly, more than 50% of, respectively,
                  the then outstanding shares of common equity securities and
                  the combined voting power of the then outstanding voting
                  securities entitled to vote generally in the election of
                  directors, as the case may be, of the ultimate parent entity
                  resulting from such Corporate Transaction (including, without
                  limitation, an entity which, as a result of such transaction,
                  owns the Company or all or substantially all of the assets of
                  the Company either directly or through one or more
                  subsidiaries) in substantially the same relative proportions
                  as their ownership, immediately prior to such Corporate
                  Transaction, of the Outstanding Company Common Stock and
                  Outstanding Company Voting Securities, as the case may be.

         (B)      No Person (other than the Company, any Company Plan or related
                  trust, the corporation resulting from such Corporate
                  Transaction, and any Person which beneficially owned,
                  immediately prior to such Corporate Transaction, directly or
                  indirectly, twenty-five percent (25%) or more of the
                  Outstanding Company Common Stock or the Outstanding Company
                  Voting Securities, as the case may be) will beneficially own,
                  directly or indirectly, twenty-five percent (25%) or more of,
                  respectively, the then outstanding common stock of the
                  ultimate parent entity resulting from such Corporate
                  Transaction or the combined voting power of the then
                  outstanding voting securities of such entity.

         (C)      Individuals who were members of the Incumbent Board will
                  constitute at least a majority of the members of the board of
                  directors of the ultimate parent entity resulting from such
                  Corporate Transaction.

         (iv) Approval by the shareholders of the Company of a plan of complete
         liquidation or dissolution of the Company.

                                      -11-
<PAGE>   12
(d)      Code. The term "Code" means the Internal Revenue Code of 1986, as
         amended. A reference to any provision of the Code shall include
         reference to any successor provision of the Code.

(e)      Eligible Person. The term "Eligible Person" shall mean any employee of
         the Company or a Subsidiary or any person providing or that has
         provided services to the Company or a Subsidiary. An Award may be
         granted to an employee, in connection with hiring, retention or
         otherwise, prior to the date the employee first performs services for
         the Company or the Subsidiaries, provided that such Awards shall not
         become vested prior to the date the employee first performs such
         services.

(f)      Fair Market Value. For purposes of determining the "Fair Market Value"
         of a share of Stock as of any date, the following rules shall apply:

         (i) If the principal market for the Stock is a national securities
         exchange or the Nasdaq stock market, then the "Fair Market Value" as of
         that date shall be the mean between the lowest and highest reported
         sale prices of the Stock on that date on the principal exchange or
         market on which the Stock is then listed or admitted to trading.

         (ii) If sale prices are not available or if the principal market for
         the Stock is not a national securities exchange and the Stock is not
         quoted on the Nasdaq stock market, the average between the highest bid
         and lowest asked prices for the Stock on such day as reported on the
         Nasdaq OTC Bulletin Board Service or by the National Quotation Bureau,
         Incorporated or a comparable service.

         (iii) If the day is not a business day, and as a result, paragraphs (i)
         and (ii) next above are inapplicable, the Fair Market Value of the
         Stock shall be determined as of the next earlier business day. If
         paragraphs (i) and (ii) next above are otherwise inapplicable, then the
         Fair Market Value of the Stock shall be determined in good faith by the
         Committee.

(g)      Subsidiaries. The term "Subsidiary" means any company during any period
         in which it is a "subsidiary corporation" (as that term is defined in
         Code section 424(f)) with respect to the Company.

(h)      Stock. The term "Stock" shall mean shares of common stock of the
         Company or, if there is more than one class of common stock of the
         Company, shares of the class of common stock having the rights which
         are most comparable to those of the common stock outstanding on the
         Effective Date.

                                      -12-
<PAGE>   13
                                    SECTION 9
                         EMPLOYEE STOCK PURCHASE PROGRAM

         The Committee shall have the authority to implement the Employee Stock
Purchase Program (the "ESPP") which is set forth in Appendix B, which is
attached to and forms a part of this Plan. Subject to Appendix A, any shares of
Stock available for delivery pursuant to paragraph 4.2(b) shall also be
available for delivery under the ESPP.

                                      -13-
<PAGE>   14
                                   APPENDIX A

                            VAST SOLUTIONS, INC. 2000
                         LONG-TERM STOCK INCENTIVE PLAN

         Notwithstanding any other provision of the Plan to the contrary, the
following provisions shall be applicable to the Plan:

         A-1. Exercise Price. With respect to any Option or SAR granted to any
person who possesses more than 10% of the total combined voting power of all
classes of stock of the Company or any Subsidiary or Parent (as defined in Code
section 424(e)) of the Company such Option or SAR shall have an exercise price
not less than 110% of the Fair Market Value of a share of Stock on the date of
grant.

         A-2. Expiration. All Options granted under the Plan shall expire not
later than the 10- year anniversary of the date of grant.

         A-3. Transferability. Awards granted pursuant to the Plan are not
transferable except by the laws of descent and distribution.

         A-4. Adjustment. In the event of a corporate transaction involving the
Company (including, without limitation, any stock dividend, stock split,
extraordinary cash dividend, recapitalization, reclassification, reorganization,
merger, consolidation, split-up, spin-off, combination or exchange of shares),
the Committee shall adjust Awards to preserve the benefits or potential benefits
of the Awards. Action by the Committee may include: (i) adjustment of the number
and kind of shares which may be delivered under the Plan; (ii) adjustment of the
number and kind of shares subject to outstanding Awards; (iii) adjustment of the
Exercise Price of outstanding Options and SARs; and (iv) any other adjustments
that the Committee determines to be equitable.

         A-5. Exercisability. Any Option granted under the Plan shall become
exercisable at a rate of at least 20% per year over 5 years from the date the
Option is granted, provided the Participant is employed by the Company at such
time. In addition, if the Participant resigns from employment, or is terminated
by the Company for any reason other than cause (as defined by applicable law),
any Options which have become exercisable prior to the time of such termination,
shall remain exercisable for:

(a)      12 months from the date of such termination if such termination was
         caused by death or disability; or

(b)      90 days from the date of such termination if such termination was
         caused by reasons other than death or disability.

                                      -14-

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