Document:

EX-10.2

Exhibit 10.2

DFC GLOBAL CORP.

DEFERRED COMPENSATION PLAN

AMENDED AND RESTATED EFFECTIVE AS OF DECEMBER 5, 2012

(as amended as of December 26, 2012)

1

DFC GLOBAL CORP.

DEFERRED COMPENSATION PLAN

This DFC Global Corp. Deferred Compensation Plan (the “Plan”), was originally adopted by DFC
Global Corp., a Delaware corporation (the “Company”), effective December 31, 2004, and was
established, and continues to exist, for the purpose of attracting high quality executives and
promoting in its key executives increased efficiency and an interest in the successful operation of
the Company. The Company amended and restated the Plan effective as of January 1, 2009 in order to
make certain design changes and to reflect final regulations under IRC Section 409A. The Company
hereby amends and restates the Plan, effective December 5, 2012, to make certain design changes.

The Company reserves the right to amend the Plan, either retroactively or prospectively, in
whatever manner is required to achieve and maintain compliance with the requirements of applicable
law.

The Plan is an unfunded program and has been established by the Company for the purpose of
providing deferred compensation for a select group of management or highly compensated employees.

ARTICLE 1

Definitions

1.1 Account(s) shall mean the Retirement Account and Scheduled Distribution Accounts, and any
additional accounts established by the Administrator for administrative convenience or otherwise
for one or more Participants pursuant to ARTICLE 3 of the Plan. Deferrals shall be allocated to
the Retirement Account or the Scheduled Distribution Account(s), as elected by the Participant.
Company Contributions under Section 2.5 shall be allocated to the Retirement Account. Company
Contributions under Section 2.6 shall be allocated to the Retirement Account or the Scheduled
Distribution Account(s), as elected by the Participant.

1.2 Administrator shall mean the Company. From time to time the Chief Executive Officer of
the Company shall delegate to one or more individuals or to a committee the responsibilities of the
Administrator under the Plan.

1.3 Affiliate shall mean any company that (i) is included as a member with the Company in a
controlled group of corporations, within the meaning of IRC Section 414(b); (ii) is a trade or
business (whether or not incorporated) included with the Company in a group of trades or business
under common control, within the meaning of IRC Section 414(c); or (iii) is required to be
aggregated with the Company pursuant to IRC Section 414(m) or 414(o) and regulations thereunder.

1.4 Base Salary shall mean the Participant’s base annual salary excluding incentive and
discretionary bonuses and other non-regular forms of compensation, before reductions for
contributions to or deferrals under any pension, deferred compensation or benefit plans sponsored
by the Company.

1.5 Beneficiary shall mean the person(s) or entity designated as such in accordance with
ARTICLE 11 of the Plan.

1.6 Bonus shall mean amounts paid to the Participant by the Company annually in the form of
discretionary or incentive compensation or any other bonus designated by the Administrator, before
reductions for contributions to or deferrals under any pension, deferred compensation or benefit
plans sponsored by the Company.

1.7 Change in Control shall mean a change in ownership or effective control of the Company, or
in the ownership of a substantial portion of the assets of the Company, as described in Treasury
Regulation sections 1.409A-3(i)(5)(v), (vi) and (vii).

1.8 Company shall have the meaning given to such term in the introductory paragraph of the
Plan.

1.9 Company Contribution shall mean the credits by the Company to the Participant’s Accounts
pursuant to Sections 2.5 and 2.6 of the Plan.

1.10 Contribution Limitations shall mean any reductions in contributions made on behalf of a
participant to the Qualified Plan due to (i) the application of IRC Section 401(k) or (m) or due to
an election to defer Base Salary or Bonus under the Plan, but excluding any reductions arising from
the dollar limit under IRC Section 402(g)(1); (ii) the limit on compensation taken into account
under IRC Section 401(a)(17) in calculating employer or employee contributions for the Qualified
Plan; or (iii) the maximum allocations permitted under the Qualified Plan under IRC Section 415(c).
The impact of such limits on the Participant for purposes of this Plan shall be determined by the
Administrator based upon reasonable estimates, and after taking into account amounts distributed
from the Qualified Plan to the Participant as a result of the application of the IRC Section 401(k)
and (m) testing, and shall be final and binding as of the date the Company Contribution is credited
to the Participant’s Account. No subsequent adjustments shall be made to increase Company
Contributions under this Plan as a result of any adjustments ultimately required under the
Qualified Plan due to actual employee contributions or other factors.

1.11 Crediting Rate shall mean the notional gains and losses credited on the Participant’s
Account balance which are based on the Participant’s choice among the investment alternatives made
available by the Administrator pursuant to ARTICLE 3 of the Plan.

1.12 Deferrals shall mean Base Salary and Bonus deferrals elected by the Participant pursuant
to ARTICLE 2 of the Plan.

1.13 Disability shall mean (i) the inability to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be expected to result
in death or can be expected to last for a continuous period of not less than twelve (12) months, or
(ii) by reason of any medically determinable physical or mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less than twelve (12)
months, the Participant is receiving income replacement benefits for a period of not less than
three (3) months under an accident and health plan covering employees of the Company. The
Administrator may require that the Participant submit to an examination by a competent physician or
medical clinic selected by the Administrator on an annual basis to confirm Disability. For
purposes of the first sentence of Section 6.1, “Disability” shall mean any medically determinable
physical or mental impairment resulting in the Participant’s inability to perform the duties of his
or her position or any substantially similar position, when such impairment can be expected to
result in death or can be expected to last for a continuous period of not less than six (6) months.

1.14 Eligible Employee shall mean an executive of the Company who is based and working in the
United States, and is selected by the Administrator to be eligible to participate in the Plan.
Notwithstanding the preceding sentence, an Eligible Employee shall include an executive of the
Company who was a Participant in the Plan for the 2012 Plan Year and was on international
assignment during the 2012 Plan Year (a “Grandfathered International Employee”), provided that the
Grandfathered International Employee is selected by the Administrator to be eligible to participate
in the Plan.

1.15 ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended.

1.16 IRC shall mean the Internal Revenue Code of 1986, as amended.

1.17 Financial Hardship shall mean a severe financial hardship to the Participant resulting
from an illness or accident of the Participant, the Participant’s spouse, the Participant’s
Beneficiary, or the Participant’s dependent (as defined in IRC Section 152(a)), loss of the
Participant’s property due to casualty, or other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant, but shall in all
events correspond to the meaning of the term “unforeseeable emergency” under IRC Section
409A(a)(2)(v) and applicable Treasury Regulations.

1.18 Participant shall mean an Eligible Employee who has elected to participate in the Plan
and has completed a Participant Election Form pursuant to ARTICLE 2 of the Plan.

1.19 Participant Election Form shall mean the written agreement to make a Deferral submitted
by the Participant to the Administrator on a timely basis pursuant to ARTICLE 2 of the Plan. The
Participant Election Form may take the form of an electronic communication followed by appropriate
written confirmation according to specifications established by the Administrator.

1.20 Performance-Based Compensation shall mean “performance-based compensation” within the
meaning of Treasury Regulation section 1.409A-1(e).

1.21 Plan Year shall mean the calendar year.

1.22 Qualified Plan shall mean an IRC Section 401(k) or other retirement plan qualified under
the IRC which is sponsored by the Company in the relevant Plan Year and is designated by the
Administrator to be taken into account for purposes of the calculation of Company Contributions
made to this Plan.

1.23 Retirement shall mean Separation from Service on or after the Retirement Eligibility
Date.

1.24 Retirement Account shall mean the Account established for amounts payable on or after
Separation from Service pursuant to ARTICLES 3 and 4 of the Plan.

1.25 Retirement Eligibility Date shall mean the date on which the Participant attains age
sixty-five (65).

1.26 Scheduled Distribution shall mean the distribution date or dates elected by the
Participant pursuant to ARTICLE 7 of the Plan.

1.27 Scheduled Distribution Account shall mean an Account established for amounts payable in
the form of a Scheduled Distribution pursuant to ARTICLES 3 and 7 of the Plan.

1.28 Separation from Service shall mean the Participant’s termination of employee status for
any reason, including (without limitation) by reason of a voluntary termination or resignation, an
involuntary termination or retirement, and shall be determined in accordance with the applicable
standards established pursuant to IRC Section 409A and the regulations thereunder.

1.29 Settlement Date shall mean the date by which a lump sum payment shall be made or the date
by which installment payments shall commence. Unless otherwise specified, the Settlement Date
shall be the last day of January of the Plan Year following the year in which the event triggering
the payout occurs. In the case of death, the event triggering payout shall be deemed to occur upon
the date the Administrator is provided with the documentation reasonably necessary to establish the
fact of the Participant’s death. Notwithstanding the foregoing or any other provision of the Plan,
if a Participant is a Specified Employee and the payment is being made on account of Separation
from Service, payment shall be made or begin promptly following the earlier of (i) the last day of
the sixth (6th) complete calendar month following the Participant’s Separation from Service, or
(ii) the Participant’s death.

1.30 Specified Employee shall mean an employee of the Company or an Affiliate who, at any time
during the 12-month period ending on the identification date (defined below), is (i) an officer of
the Company or an Affiliate having annual compensation greater than $130,000 (adjusted for
inflation as described in IRC Section 416(i)), (ii) a five percent owner of the Company and its
Affiliates, or (iii) a one percent owner of the Company and its Affiliates who has annual
compensation from the Company and its Affiliates greater than $150,000. The number of officers who
are considered Specified Employees shall be limited to 50 employees, as described in IRC Section
416(i), and shall exclude employees who are nonresident aliens during the entire 12-month period
ending on the identification date. The identification date shall be each December 31, and the
determination of Specified Employees as of such identification date shall apply for the 12-month
period following April 1 after the identification date. The determination of who is a Specified
Employee shall be made by the Administrator in accordance with IRC Section 416(i), the “specified
employee” requirements of IRC Section 409A, and applicable regulations.

1.31 Treasury Regulations shall mean rules and regulations issued by the U.S. Department of
Treasury, and to the extent applicable, shall also include IRS Notice 2005-1, IRS Notice 2006-33,
and IRS Notice 2006-79.

1.32 Valuation Date shall mean the date through which earnings are credited and shall be as
close to the payout or other event triggering valuation as is administratively feasible but in no
event earlier than the last day of the month preceding the month in which the payout or other event
triggering valuation occurs.

ARTICLE 2

Participation

2.1 Elective Deferral. Each year a Participant may elect to defer up to fifty percent
(50%) of Base Salary and/or one-hundred percent (100%) of Bonus earned by the Participant during
the Plan Year. The Participant’s election may take the form of (i) a whole percentage or specified
dollar amount of Base Salary, or (ii) a whole percentage of Bonus. The Administrator may further
limit the minimum or maximum amount deferred by any Participant or group of Participants, or waive
the foregoing limits for any Participant or group of Participants, for any reason. Each year a
Participant may elect to defer into this Plan any amounts elected by the Participant for deferral
under the Qualified Plans which the Administrator determines may not be contributed to the
Qualified Plan due to applicable Contribution Limitations, subject to IRC Section 409A and
applicable Treasury Regulations. If a Participant, other than a Grandfathered International
Employee, is transferred to an international assignment during a Plan Year, the Participant’s
Deferral election will continue in effect during such Plan Year, but the Participant will not be
permitted to make a Deferral election for subsequent Plan Years until the Participant again becomes
an Eligible Employee and otherwise satisfies the eligibility requirements of the Plan and IRC
Section 409A.

2.2 Participant Election Form. In order to make a Deferral, an Eligible Employee must
submit a Participant Election Form to the Administrator during the enrollment period established by
the Administrator prior to the beginning of the calendar year in which services are performed to
earn such Base Salary or Bonus. Notwithstanding the foregoing, the Administrator may permit
Eligible Employees hired during a Plan Year or newly eligible during a Plan Year to defer Base
Salary earned through services performed during the balance of such Plan Year by submitting a
Participant Election Form to the Administrator within 30 days of such newly Eligible Employee’s
date of hire or the date he or she first becomes eligible to participate in the Plan. The election
to participate shall apply only to the Eligible Employee’s Base Salary earned after the date of the
election, consistent with IRC Section 409A. The Administrator may permit Eligible Employees hired
during a Plan Year or newly eligible during a Plan Year prior to July 1 of such Plan Year to defer
Bonus for such Plan Year by submitting a Participant Election Form to the Administrator prior to
July 1 of such Plan Year, to the extent permitted by IRC Section 409A. Such election to
participate with respect to the Bonus shall be effective only if the Administrator determines that
the Bonus for such Plan Year is Performance-Based Compensation. Each Participant shall be required
to submit a new Participant Election Form on a timely basis in order to change the Participant’s
Deferral election for a subsequent Plan Year. If no Participant Election Form is filed during the
prescribed enrollment period, the Participant shall be deemed to have elected not to make a
Deferral of Base Salary or Bonus for such subsequent Plan Year.

2.3 Participant Election Irrevocable. The election to defer Base Salary or Bonus for
a particular Plan Year shall be irrevocable after the beginning of the Plan Year except in the
event of Separation from Service or as provided in ARTICLE 6, in the event of Disability, or
ARTICLE 8, in the case of a Financial Hardship. Notwithstanding the foregoing, the Administrator,
in its complete and sole discretion, may allow Participants to revise Deferral elections with
respect to a Bonus at any time prior to the first day of the sixth (6th) month preceding the end of
the performance period over which such Bonus is earned if the Administrator determines that the
Bonus is Performance-Based Compensation and such revision is permissible under IRC Section 409A and
applicable Treasury Regulations.

2.4 Elections Regarding Timing and Form of Payout. Except as provided in ARTICLE 9,
at the time that a Participant makes a Deferral election with respect to a Plan Year, the
Participant shall also designate the time and form in which such Deferral shall be distributed,
together with all notional earnings thereon. A Participant may make one election for his or her
Deferrals under Section 2.1, and a separate election for Company Contributions under Sections 2.5
and 2.6. If a Participant is eligible only for Company Contributions under Sections 2.5, the
Participant shall make an election within 30 days of such Eligible Employee’s date of hire, or the
date he or she first becomes eligible to participate in the Plan, as to whether to have his or her
Retirement Account paid in a lump sum or installments, as provided in Section 4.1. All elections
must provide for distribution to be made at a time and in a form that is consistent with the
distribution options made available under the Plan and applicable law. An election with respect to
the time and form of benefit distributions may not be changed, except as expressly provided for
herein. A change election may not accelerate distributions but may delay distributions or change
the form of payment only if all of the following requirements are met:

(a) the new election, which may only be made by a Participant while he is employed by the
Company or an Affiliate, does not take effect until at least twelve (12) months after the date on
which the new election is made;

(b) in the case of payments made on account of Separation from Service or a Scheduled
Distribution, the new election delays payment for at least five (5) years from the date that
original payment would otherwise have been made, absent the change election and in the case of a
Scheduled Distribution, satisfies Section 7.1(c); and

(c) in the case of payments made according to a Scheduled Distribution, the new election is
not made less than twelve (12) months before the date on which payment would have been made (or, in
the case of installment payments, the first installment payment would have been made) absent the
new election.

Election changes made pursuant to this Section shall be made on written forms provided by the
Administrator, and in accordance with rules established by the Administrator, and shall comply
with all requirement of IRC Section 409A and applicable Treasury Regulations.

2.5 Company Qualified Plan Makeup Contribution. The Company shall make a Company
Contribution on behalf of the Participant for each Plan Year in which the Participant makes a
Deferral under this Plan which shall equal the maximum Company contributions that would have been
provided to the Participant under the Qualified Plan had the Participant’s elective Deferral been
contributed to the Qualified Plan without regard to any Contribution Limitations. The Company
Contribution for each Plan Year shall be reduced by the amount of Company contributions actually
credited to the Participant under the Qualified Plan for such Plan Year or paid to the Participant
in cash from the Plan. Notwithstanding the foregoing, any changes in election by the Participant
under the Qualified Plan shall not increase or decrease either the elective Deferrals under Section
2.1 or the Company Contributions under this Section 2.5 by an amount greater than the limit under
IRC Section 402(g) in effect for the year for the Participant, nor shall the Participant’s action
or inaction cause Company Contributions that are matching contributions to exceed 100 percent
(100%) of the matching amounts that would be provided under the Qualified Plan absent any
restrictions that reflect IRC limits on qualified plan contributions. All Company Contributions
under this Section 2.5 shall be credited to the Participant’s Retirement Account.

2.6 Discretionary Company Contributions. The Company shall have the discretion to
make additional Company Contributions to the Plan on behalf of any Participant. Company
Contributions shall be made in the complete and sole discretion of the Company and no Participant
shall have the right to receive any Company Contribution regardless of whether Company
Contributions are made on behalf of other Participants. Company Contributions under this Section
2.6 for a particular Plan Year shall be allocated to the Participant’s Retirement Account or to any
Scheduled Distribution Account(s), as elected by the Participant. Absent a timely election,
Company Contribution shall be allocated to the Retirement Account. Scheduled Distribution for
amounts under this Section 2.6 may not be elected prior to the January of a Plan Year after the
second (2rd) Plan Year beginning after the enrollment period in which such Scheduled Distribution
is elected.

ARTICLE 3

Accounts

3.1 Participant Accounts. Solely for recordkeeping purposes, separate Accounts shall
be maintained for each Participant. One Retirement Account and not more than five (5) Scheduled
Distribution Accounts shall be maintained for the Participant and credited with the Participant’s
Deferrals (as directed by the Participant) at the time such amounts would otherwise have been paid
to the Participant. All Deferrals for a particular Plan Year shall be allocated to the
Participant’s Retirement Account and/or to any Scheduled Distribution Account(s). Absent a timely
election, Deferrals shall be allocated to the Retirement Account. Scheduled Distribution for
Deferrals under this Section 3.1 may not be elected prior to January of a Plan Year after the
second (2nd) Plan Year beginning after the enrollment period in which such Scheduled Distribution
is elected. All Deferrals and Company Contributions credited to the Participant’s Retirement
Accounts and Scheduled Distribution Account(s) under Sections 2.1, 2.5 and 2.6 shall be deemed to
be credited with notional gains or losses as provided in Section 3.3 from the date the amount is
credited to the Account through the Valuation Date.

3.2 Vesting of Accounts. All Deferrals credited to the Participant’s Retirement and
Scheduled Distribution Accounts shall be fully vested at all times. Company Contributions credited
to the Retirement Account pursuant to Section 2.5 intended to make up for limitations on
contributions to the Qualified Plan, including notional earnings thereon, shall vest over the same
period that Company contributions to the Qualified Plan vest. Discretionary Company Contributions
credited to the Retirement Account and the Scheduled Distribution Account(s) made pursuant to
Section 2.6, including notional earnings thereon, shall vest at such time and under such terms and
conditions as may be specified by the Administrator at the time such amounts are credited to the
Plan. In the event of Separation from Service as a result of Retirement or death, or in the event
of Disability, any unvested portion of the Participant’s Company Contributions may become fully or
partially vested to the extent specified by the Administrator. Upon Separation from Service for
any other reason, the Participant shall forfeit the unvested portion of his or her Company
Contributions.

3.3 Crediting Rate. The Crediting Rate on amounts in a Participant’s Accounts shall
be based on the Participant’s choice among the investment alternatives made available from time to
time by the Administrator. The Administrator shall establish a procedure by which a Participant
may elect to have the Crediting Rate based on one or more investment alternatives and by which the
Participant may change investment elections at least quarterly. The Participant’s Account balances
shall reflect the investments selected by the Participant. If an investment selected by a
Participant sustains a loss, the Participant’s Account shall be reduced to reflect such loss. The
Participant’s choice among investments shall be solely for purposes of calculation of the Crediting
Rate. If the Participant fails to elect an investment alternative the Crediting Rate shall be
based on the investment alternative selected for this purpose by the Administrator. The Company
shall have no obligation to set aside or invest funds as directed by the Participant and, if the
Company elects to invest funds as directed by the Participant, the Participant shall have no more
right to such investments than any other unsecured general creditor. During payout, the
Participant’s Account shall continue to be credited at the Crediting Rate selected by the
Participant from among the investment alternatives or rates made available by the Administrator for
such purpose. Installment payments shall be recalculated annually by dividing the Account balance
by the number of payments remaining without regard to anticipated earnings or in any other
reasonable manner as may be determined from time to time by the Administrator.

3.4 Statement of Accounts. The Administrator shall provide each Participant with
statements at least quarterly setting forth the Participant’s Account balance as of the end of such
quarter.

ARTICLE 4

Retirement Benefits

4.1 Retirement Benefits. In the event of the Participant’s Retirement, the
Participant shall be entitled to receive an amount equal to the total vested balance of the
Participant’s Retirement Account credited with notional earnings as provided in ARTICLE 3 through
the Valuation Date. The benefits shall be paid in a single lump sum unless the Participant has
made a timely election to have the benefit paid in annual installments over two, three, four or
five, or ten years. Except as otherwise required for a Specified Employee, payments shall be made
or begin on the Settlement Date following Retirement. Any Separation from Service on or after the
Retirement Eligibility Date shall qualify as a Retirement for purposes of this Section 4.1.

4.2 Termination Benefit. Upon Separation from Service other than by reason of
Retirement, Disability or death, the Company shall pay to the Participant a termination benefit
equal to the vested balance of all of the Participant’s Accounts credited with notional
earnings as provided in ARTICLE 3 through the Valuation Date. Except as otherwise required for a
Specified Employee, payments shall be made or begin on the Settlement Date following Separation
from Service. The termination benefits shall be paid in a single lump sum unless the Participant
has made a timely election to have the benefit paid in annual installments. The annual
installments may be paid over a period of two, three, four or five years as elected by the
Participant.

4.3 Small Benefit Exception. Notwithstanding the foregoing, on the date the
Participant has a Separation from Service, in the event the sum of all benefits payable to the
Participant is less than or equal to seventeen thousand dollars ($17,000), or such greater amount
as is permitted under IRC Section 409A and the regulations hereunder, the Administrator shall pay
such benefits in a single lump sum payable on the Settlement Date following the Participant’s
Separation from Service.

ARTICLE 5

Death Benefits

5.1 Survivor Benefit. If the Participant dies prior to complete distribution of all
of the Participant’s Accounts, the Company shall pay to the Participant’s Beneficiary a death
benefit equal to the total vested balance on death of all of the Participant’s Accounts credited
with notional earnings as provided in ARTICLE 3 through the Valuation Date. The death benefit
shall be paid in a single lump sum on the Settlement Date following the date the Participant’s
death is established by reasonable documentation.

ARTICLE 6

Disability

6.1 Disability. In the event of Disability, Deferral elections shall cease. In the
event of a Disability, the Participant shall receive an amount equal to the total vested balance of
all of the Participant’s Accounts in a lump sum. The Disability benefits shall be paid on the
Settlement Date following the determination of Disability.

ARTICLE 7

Scheduled Distributions

7.1 Election. The Participant shall make an election on the Participant Election Form
at the time of making a Deferral to take a Scheduled Distribution from the Account established by
the Participant for such purpose, including any earnings credited thereon.

(a) Except as provided in ARTICLE 9, the Participant may elect to receive the Scheduled
Distribution, to the extent scheduled to then be vested, in January of any Plan Year after the
second (2nd) Plan Year beginning after the enrollment period in which such Scheduled Distribution
is elected. Scheduled Distributions shall be paid in a lump sum unless the Participant has made a
timely election to have the benefit paid in annual installments. The annual installments may be
paid over a period of two, three, four or five years as elected by the Participant.

(b) The Participant may elect to make additional Deferrals into an existing Scheduled
Distribution Account in subsequent Participant Election Forms but may only change a Scheduled
Distribution date for an existing Account as provided in Section 2.4 of the Plan. The Participant
may establish up to five (5) separate Scheduled Distribution Accounts for Deferrals under Section
3.1 with different Scheduled Distribution dates but shall not establish a sixth (6th) such Account
until all of the funds in one of the first Scheduled Distribution Accounts have been paid out.
There shall be no limit on the number of Scheduled Distribution Accounts for Company Contributions
under Section 2.6.

(c) A Participant may not establish a Scheduled Distribution (including under Section 2.4
(a)-(c)) with a Settlement Date after the Participant reaches age 70.

7.2 Timing of Scheduled Distribution. The Scheduled Distribution shall be paid by the
Company to the Participant in the form elected by the Participant beginning no later than the last
day of January of the Plan Year elected by the Participant in the Participant Election Form, which
may be before Retirement or after Retirement as provided in Section 7.1(c). In the event of
Separation from Service prior to the Retirement Eligibility Date (other than due to Disability or
death of the Participant), if such Separation from Service occurs prior to the date elected for the
Scheduled Distribution, the Scheduled Distribution, to the extent vested, shall be paid in a single
lump sum or in installments, as elected by the Participant, on the Settlement Date following
Separation from Service, and any Scheduled Distributions that are already being paid out in
installments shall continue to be paid in installments, and any unvested Scheduled Distributions
shall be forfeited.

ARTICLE 8

Financial Hardship Distribution and Other Acceleration Events

8.1 Financial Hardship Distribution. Upon a finding that the Participant has suffered
a Financial Hardship, subject to Treasury Regulations promulgated under IRC Section 409A, the
Administrator may, at the request of the Participant, accelerate distribution of vested benefits in
the amount reasonably necessary to alleviate such Financial Hardship, or approve cessation of
Deferrals under the Plan for the remainder of the Plan Year. The amount distributed pursuant to
this Section with respect to a Financial Hardship shall not exceed the amount necessary to satisfy
such Financial Hardship plus amounts necessary to pay taxes reasonably anticipated as a result of
the distribution, after taking into account the extent to which such hardship is or may be relieved
through reimbursement or compensation by insurance or otherwise or by liquidation of the
Participant’s assets (to the extent the liquidation of such assets would not itself cause severe
financial hardship). A distribution under this Section 8.1 shall be made within 60 days following
approval of the Financial Hardship, and will not be delayed to the Settlement Date. In the event a
Participant receives a withdrawal under this Section, all Deferrals under the Plan will be
suspended for the remainder of the Plan Year.

8.2 Other Acceleration Events. To the extent permitted by IRC Section 409A and the
Treasury Regulations promulgated thereunder, notwithstanding the terms of a Deferral election or
change election, distribution of all or part of a Participant’s Accounts may be made: (i) to the
extent necessary to fulfill a domestic relations order (as defined in IRC Section 414(p)(l)(B);
(ii) to the extent necessary to comply with a certificate of divestiture (as defined in IRC Section
1043(b)(2)); or (iii) to pay the Federal Insurance Contribution Act (“FICA”) tax imposed under IRC
Sections 3101 and 3121(v)(2) on compensation deferred under the Plan (the “FICA Amount”) plus the
income tax at source on wages imposed under IRC Section 3401 with respect to the FICA Amount, and
to pay the additional income tax at source on wages attributable to the pyramiding IRC Section 3401
wages and taxes, provided that the total amount distributable under this Section 8.2 shall not
exceed the sum of the FICA Amount and the income tax withholding related to such FICA Amount.

ARTICLE 9

Change in Control

9.1 Board Discretion to Provide for Distribution Upon a Change in Control. To the
extent permitted by and in accordance with IRC Section 409A and the Treasury Regulations
promulgated thereunder, in connection with, in anticipation of and contingent on a Change in
Control, notwithstanding any other provision of the Plan or any Deferral election, the Board may
exercise its discretion to terminate the Plan and distribute all the Accounts of each Participant
in full and effect the revocation of any outstanding Deferral elections, provided that following a
Change in Control, no amendment to the Plan shall change the applicability of this Section 9.1.

ARTICLE 10

Amendment and Termination of Plan

10.1 Amendment or Termination of Plan. Except as otherwise provided in Section 9.1,
the Company may, at any time, without Participants’ consent, direct the Administrator to amend or
terminate the Plan, subject to Treasury Regulations promulgated under IRC Section 409A, except that
no such amendment or termination may reduce a Participant’s Account balances. If the Company
terminates the Plan, no further amounts shall be deferred hereunder, and amounts previously
deferred or contributed to the Plan shall be fully vested and shall be paid in accordance with the
provisions of the Plan prior to the termination.

ARTICLE 11

Beneficiaries

11.1 Beneficiary Designation. The Participant shall have the right, at any time, to
designate any person or persons as Beneficiary (both primary and contingent) to whom payment under
the Plan shall be made in the event of the Participant’s death. The Beneficiary designation shall
be effective when it is submitted in writing to and acknowledged by the Administrator during the
Participant’s lifetime on a form prescribed by the Administrator.

11.2 Revision of Designation. The submission of a new Beneficiary designation shall
cancel all prior Beneficiary designations. Any finalized divorce or marriage (other than a common
law marriage) of a Participant subsequent to the date of a Beneficiary designation shall revoke
such designation, unless in the case of divorce the previous spouse was not designated as
Beneficiary and unless in the case of marriage the Participant’s new spouse has previously been
designated as Beneficiary.

11.3 Absence of Valid Designation. If a Participant fails to designate a Beneficiary
as provided above, or if the Beneficiary designation is revoked by marriage, divorce, or otherwise
without execution of a new designation, or if every person designated as Beneficiary predeceases
the Participant or dies prior to complete distribution of the Participant’s benefits, then the
Administrator shall direct the distribution of such benefits to the Participant’s estate.

ARTICLE 12

Administration/Claims Procedures

12.1 Administration. The Plan shall be administered by the Administrator, which shall
have the exclusive right and full discretion (i) to interpret the Plan, (ii) to decide any and all
matters arising hereunder (including the right to remedy possible ambiguities, inconsistencies or
admissions), (iii) to make, amend and rescind such rules as it deems necessary for the proper
administration of the Plan and (iv) to make all other determinations and resolve all questions of
fact necessary or advisable for the administration of the Plan, including determinations regarding
eligibility for benefits payable under the Plan. All interpretations of the Administrator with
respect to any matter hereunder shall be final, conclusive and binding on all persons affected
thereby. No member of the Administrator shall be liable for any determination, decision or action
made in good faith with respect to the Plan. The Company will indemnify and hold harmless the
Administrator and his or her delegee(s) from and against any and all liabilities, costs and
expenses incurred by such persons as a result of any act, or omission, in connection with the
performance of such persons’ duties, responsibilities and obligations under the Plan, other than
such liabilities, costs and expenses as may result from the bad faith, willful misconduct or
criminal acts of such persons.

12.2 Claims Procedure. Any Participant, former Participant or Beneficiary may file a
written claim with the Administrator setting forth the nature of the benefit claimed, the amount
thereof, and the basis for claiming entitlement to such benefit. The Administrator shall determine
the validity of the claim and communicate a decision to the claimant promptly and in any event, not
later than ninety (90) days after the date of the claim. The claim may be deemed by the claimant
to have been denied for purposes of further review described below in the event a decision is not
furnished to the claimant within such ninety (90) day period. If additional information is
necessary to make a determination on a claim, the claimant shall be advised of the need for such
additional information within forty-five (45) days after the date of the claim. The claimant shall
have up to one hundred and eighty (180) days to supplement the claim information, and the claimant
shall be advised of the decision on the claim within forty-five (45) days after the earlier of the
date the supplemental information is supplied or the end of the one hundred and eighty (180) day
period. Every claim for benefits which is denied shall be denied by written notice setting forth
in a manner calculated to be understood by the claimant (i) the specific reason or reasons for the
denial, (ii) specific reference to any provisions of the Plan (including any internal rules,
guidelines, protocols, criteria, etc.) on which the denial is based, (iii) description of any
additional material or information that is necessary to process the claim, and (iv) an explanation
of the procedure for further reviewing the denial of the claim.

12.3 Review Procedures. Within sixty (60) days after the receipt of a denial on a
claim, claimant or higher authorized representative may file a written request for review of such
denial. Such review shall be undertaken by the Administrator and shall be a full and fair review.
The claimant shall have the right to review all pertinent documents. The Administrator shall issue
a decision not later than sixty (60) days after receipt of a request for review from a claimant
unless special circumstances, such as the need to hold a hearing, require a longer period of time,
in which case a decision shall be rendered as soon as possible but not later than one hundred and
twenty (120) days after receipt of the claimant’s request for review. The decision on review shall
be in writing and shall include specific reasons for the decision written in a manner calculated to
be understood by the claimant with specific reference to any provisions of the Plan on which the
decision is based and shall include an explanation of the claimant’s right to submit the claim for
binding arbitration in the event of an adverse determination on review.

ARTICLE 13

Conditions Related to Benefits

13.1 Nonassignability. No person entitled to benefits under the Plan shall have any
right to transfer, assign, alienate, pledge, hypothecate or otherwise encumber his or her interest
in such benefits prior to actual receipt of those benefits. The benefits payable under the Plan
shall not, prior to actual payment, be subject to seizure or sequestration for the payment of any
debts, judgments, alimony or separate maintenance owed by a Participant or any other person and
shall not, to the maximum extent permitted by law, be transferable by operation of law in the event
of the bankruptcy or insolvency of the Participant or any other person. Notwithstanding the
foregoing, any payments otherwise due the Participant hereunder may instead be assigned or
distributed to his or her spouse or former spouse pursuant to the terms of any domestic relations
order within the meaning of IRC Section 414(p)(1)(B) which is issued with respect to those
Accounts, and the Participant shall cease to have any right, interest or entitlement to the portion
of any payment or Account assigned or distributed to his or her spouse or former spouse in
accordance with the terms of such order. To the extent permitted by such domestic relations order,
the portion of the payment or Account assigned or distributable to the spouse or former spouse may
be paid in an immediate lump sum distribution, provided the Participant is at the time fully
vested in that portion.

13.2 No Right to Company Assets. The benefits paid under the Plan shall be paid from
the general funds of the Company, and the Participant and any Beneficiary shall be no more than
unsecured general creditors of the Company with no special or prior right to any assets of the
Company for payment of any obligations hereunder,

13.3 Protective Provisions. The Participant shall cooperate with the Company by
furnishing any and all information requested by the Administrator, in order to facilitate the
payment of benefits hereunder, taking such physical examinations as the Administrator may deem
necessary and taking such other actions as may be requested by the Administrator. If the
Participant refuses to so cooperate, the Company shall have no further obligation to the
Participant under the Plan. In the event of the Participant’s suicide during the first two (2)
years in the Plan, or if the Participant makes any material misstatement of information or
nondisclosure of medical history, then no benefits shall be payable to the Participant under the
Plan, except that benefits may be payable in a reduced amount in the sole discretion of the
Administrator.

13.4 Withholding. The Participant shall make appropriate arrangements with the
Company for satisfaction of any federal, state or local income tax withholding requirements and
Social Security or other employee tax requirements applicable to the payment of benefits under the
Plan. If no other arrangements are made, the Company may provide, at its discretion, for such
withholding and tax payments as may be required, including, without limitation, by the reduction of
other amounts payable to the Participant.

13.5 Assumptions and Methodology. The Administrator shall establish the assumptions
and method of calculation used in determining the present or future value of benefits, earnings,
payments, fees, expenses or any other amounts required to be calculated under the terms of the
Plan. The Administrator shall also establish reasonable procedures regarding the form and timing
of installment payments.

13.6 Trust. The Company shall be responsible for the payment of all benefits under
the Plan. At its discretion, the Company may establish one or more grantor trusts for the purpose
of providing for payment of benefits under the Plan. Such trust or trusts may be irrevocable, but
the assets thereof shall be subject to the claims of the Company’s creditors. Benefits paid to the
Participant from any such trust or trusts shall be considered paid by the Company for purposes of
meeting the obligations of the Company under the Plan.

13.7 Section 409A Compliance. This Plan is intended to comply with the requirements
of IRC Section 409A and regulations thereunder. Any provision of this Plan that is contrary to the
requirements of IRC Section 409A and the regulations thereunder shall be null, void and of no
effect and the Administrator shall interpret the Plan consistent with the requirements of IRC
Section 409A, which shall govern the administration of the Plan in the event of a conflict between
Plan terms and the requirements of IRC Section 409A and the regulations thereunder.
Notwithstanding any other provision of this Plan to the contrary, in no event shall any payment
under this Plan that constitutes “deferred compensation” for purposes of IRC Section 409A be
subject to offset, counterclaim or recoupment by any other amount payable to the Participant unless
otherwise permitted by Section 409A.

ARTICLE 14

Miscellaneous

14.1 Successors of the Company. The rights and obligations of the Company under the
Plan shall inure to the benefit of, and shall be binding upon, the successors and assigns of the
Company.

14.2 Employment Not Guaranteed. Nothing contained in the Plan nor any action taken
hereunder shall be construed as a contract of employment or as giving any Participant any right to
continued employment with the Company.

14.3 Gender, Singular and Plural. All pronouns and any variations thereof shall be
deemed to refer to the masculine, feminine or neuter, as the identity of the person or persons may
require. As the context may require, the singular may be read as the plural and the plural as the
singular.

14.4 Captions. The captions of the articles, paragraphs and sections of the Plan are
for convenience only and shall not control or affect the meaning or construction of any of its
provisions.

14.5 Validity. In the event any provision of the Plan is held invalid, void or
unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other
provisions of the Plan.

14.6 Waiver of Breach. The waiver by the Company of any breach of any provision of
the Plan shall not operate or be construed as a waiver of any subsequent breach by that Participant
or any other Participant.

14.7 Notice. Any notice or filing required or permitted to be given to the Company or
the Participant under this Agreement shall be sufficient if in writing and hand-delivered, or sent
by registered or certified mail, in the case of the Company, to the principal office of the
Company, directed to the attention of the Administrator, and in the case of the Participant, to the
last known address of the Participant indicated on the employment records of the Company. Such
notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the
date shown on the postmark on the receipt for registration or certification. Notices to the
Company may be permitted by electronic communication according to specifications established by the
Administrator.

14.8 Inability to Locate Participant or Beneficiary. It is the responsibility of a
Participant to apprise the Administrator of any change in address of the Participant or
Beneficiary. In the event that the Administrator is unable to locate a Participant or Beneficiary
for a period of three (3) years, the Participant’s Account shall be forfeited to the Company.

14.9 Errors in Benefit Statement. In the event an error is made in a benefit
statement, such error shall be corrected on the next benefit statement following the date such
error is discovered.

14.10 ERISA Plan. The Plan is intended to be an unfunded plan maintained primarily to
provide deferred compensation benefits for a select group of “management or highly compensated
employees” within the meaning of Sections 201, 301 and 401 of ERISA and therefore to be exempt from
Parts 2, 3 and 4 of Title I of ERISA.

14.11 Applicable Law. In the event any provision of, or legal issue relating to, this
Plan is nor fully preempted by ERISA, such issue or provision shall be governed by the laws of the
Commonwealth of Pennsylvania.

14.12 Arbitration. Any claim, dispute or other matter in question of any kind
relating to this Plan which is not resolved by the claims procedures under this Plan shall be
settled by arbitration in accordance with the applicable employment dispute resolution rules of the
American Arbitration Association. Notice of demand for arbitration shall be made in writing to the
opposing party and to the American Arbitration Association within a reasonable time after the
claim, dispute or other matter in question has arisen. In no event shall a demand for arbitration
be made after the date when the applicable statute of limitations would bar the institution of a
legal or equitable proceeding based on such claim, dispute or other matter in question. The
decision of the arbitrators shall be final and may be enforced in any court of competent
jurisdiction. The arbitrators may award reasonable fees and expenses to the prevailing party in
any dispute hereunder and shall award reasonable fees and expenses in the event that the
arbitrators find that the losing party acted in bad faith or with intent to harass, hinder or delay
the prevailing party in the exercise of its rights in connection with the matter under dispute.

IN WITNESS WHEREOF, the Company has caused this Plan to be executed this 5th day of December,
2012.

DFC GLOBAL CORP.

/s/ Randy Underwood—

By: Randy Underwood

Executive Vice President and Chief Financial

Officer

2EX-10.1

Exhibit 10.1

NEITHER THE ISSUANCE AND SALE OF THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933 OR
(B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A OR OTHER EXEMPTION UNDER SAID ACT.

THE TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS PROHIBITED EXCEPT IN ACCORDANCE WITH THE
SECURITIES ACT OF 1933, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION.

VIASPACE INC.

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE

$30,000.00 December 31, 2012

FOR VALUE RECEIVED, VIASPACE INC., a Nevada corporation (“Company”), promises to pay to Kevin
Schewe (“Holder”), or its registered assigns, in lawful money of the United States of America the
principal sum of TWENTY THOUSAND Dollars ($30,000.00), or such other amount as shall equal the
outstanding principal amount hereof, together with interest from the date of this Note on the
unpaid principal balance at a rate equal to six percent (6.0%) per annum, computed on the basis of
the actual number of days elapsed and a year of 365 days. Unless converted into Common Stock of
Company as set forth in Section 3 and/or Section 8 below, all unpaid principal, together with any
then unpaid and accrued interest, shall be due and payable on the earlier of (i) December 31, 2014
(the “Maturity Date”), (ii) upon prepayment of all amounts due and payable under this Note in
accordance with the terms hereof, or (iii) when, upon or after the occurrence of an Event of
Default (as defined below), such amounts are declared due and payable by Holder or made
automatically due and payable in accordance with the terms hereof. Immediately prior to the
issuance of this Note by Company, Holder acknowledges that it has delivered to Company the sum of
THIRTY THOUSAND Dollars ($30,000.00) reflecting the principal amount under this Note.

This Note is one of a series of notes (the “Notes”) having like tenor and effect (except for
variations necessary to express the name of the holder, the principal amount of each of the Notes
and the date on which each Note is funded) in an aggregate principal amount of up to $1,000,000
issued or to be issued by Company on or about the period from September 2012 to August 2017 (or
such other period as agreed upon by the Company and the Holder) pursuant to the terms of a Loan
Agreement, dated as of September 30, 2012, by and between Company and the Holder (or his designees)
of the Notes (the “Loan Agreement”). The Notes shall rank equally without preference or priority
of any kind over one another, and all payments on account of principal and interest with respect to
any of the Notes shall be applied ratably and proportionately on the outstanding Notes on the basis
of the principal amount of the outstanding indebtedness represented thereby.

The following is a statement of the rights of Holder and the conditions to which this Note is
subject, and to which Company by issuance of this Note, and Holder by the acceptance of this Note,
agree:

1. Definitions. As used in this Note, the following capitalized terms have the
following meanings:

(a) “Common Stock” shall mean the Company’s Common Stock, par value $0.001.

(b) “Collateral” has the meaning given in Section 4 hereof.

(c) “Company” includes the corporation initially executing this Note and any Person which
shall succeed to or assume the obligations of Company under this Note.

(d) “Conversion Notice” has the meaning given in Section 8(e) hereof.

(e) “Conversion Period” shall mean the period from the date of the Note and ending on the
Maturity Date.

(f) “Conversion Price” has the meaning given in Section 8(b) hereof

(g) “Event of Default” has the meaning given in Section 6 hereof.

(h) “Holder” shall mean the Person specified in the introductory paragraph of this Note or any
Person who shall at the time be the registered holder of this Note. “Holders” shall mean the
Persons collectively specified in the introductory paragraph of this Note and the other Notes or
any Persons who shall at the time be the registered holders of this Note and the other Notes.

(i) “Majority Holders” shall mean Holders holding a majority of the aggregate principal amount
of the Notes then outstanding.

(j) “Note” shall mean this Senior Secured Convertible Promissory Note.

(k) “Obligations” shall mean and include all loans, advances, debts, liabilities and
obligations owed by Company to Holder of every kind and description, now existing or hereafter
arising under or pursuant to the terms of this Note including, all interest, fees, charges,
expenses, attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable by
Company hereunder.

(l) “Person” shall mean and include an individual, a partnership, a corporation (including a
business trust), a joint stock company, a limited liability company, an unincorporated association,
a joint venture or other entity or a governmental authority.

(m) “Prepayment Amount” has the meaning given in Section 3 hereof

(n) “Prepayment Notice” has the meaning given in Section 3 hereof.

(o) “Sale Transaction” shall mean a transaction or series of related transactions involving
(i) the consolidation or merger of Company with another Person, (ii) a sale of all or substantially
all of the assets of Company, (iii) a purchase, tender or exchange offer that is accepted by the
holders of more than the 50% of the outstanding shares of capital stock of Company, (iv) the
consummation of a stock purchase agreement or other business combination with another Person
whereby such other Person acquires more than the 50% of the outstanding capital stock of Company.

(p) “Securities Act” has the meaning given in Section 5(b) hereof.

(q) “Loan Agreement” has the meaning in the second introductory paragraph of this Note.

(r) “Successor Entity” has the meaning given in Section 10 hereof.

Capitalized term not otherwise defined shall have the meaning set forth in the Loan Agreement.

2. Interest. Unless converted into Common Stock of Company as set forth in Section 8
below, or unless prepaid or converted as set forth in Section 3 below, accrued interest on this
Note shall be payable on the Maturity Date.

3. Prepayment. During the Conversion Period, Company may, at any time and from time
to time, prepay all or any portion of the principal due under this Note, together with accrued
interest, without penalty. Company shall effect such prepayment by providing Holder twenty (20)
days written notice prior to the date of such prepayment (such notice, a “Prepayment Notice”)
indicating the amount of principal and accrued interest Company desires to prepay (the “Prepayment
Amount”). Notwithstanding the foregoing, Holder shall have 10 days following receipt of such
Prepayment Notice to notify Company in writing of its election to convert the Prepayment Amount
into shares of Common Stock, in which case such Prepayment Amount shall be converted into shares of
Common Stock in accordance with the conversion procedures set forth in Section 8(e) hereof
(provided that, with respect to conversions effected pursuant to this Section 3, any references to
the Conversion Amount in Section 8(e) shall refer to the Prepayment Amount). Should Holder elect
to convert the Prepayment Amount into shares of Common Stock, the number of shares of Common Stock
into which such Prepayment Amount will be converted shall be determined by dividing the Prepayment
Amount by the then applicable Conversion Price.

4. Security Interest. As security for the payment and performance of the Obligations
under this Note and the other Notes, Company hereby grants to the holder of this Note and of the
other Notes a first lien security interest in all of Company’s right, title and interest in, to and
under all of its personal property, wherever located and whether now existing or owned or hereafter
acquired or arising, including all accounts, chattel paper, commercial tort claims, deposit
accounts, documents, equipment (including all fixtures), general intangibles, intellectual property
(including all patents and patent applications, all copyrights and applications for copyright, all
state (including common law), federal and foreign trademarks, service marks and trade names, and
applications for registration of such trademarks, service marks and trade names, and all trade
secrets), instruments, inventory, investment property, letter-of-credit rights, money and all
products, proceeds and supporting obligations of any and all of the foregoing (collectively, the
“Collateral”). Notwithstanding the foregoing, the security interest granted herein shall not
extend to any property, rights or licenses to the extent the granting of a security interest
therein would be contrary to applicable law.

5. Representations and Warranties of Holder. Holder represents and warrants to Company
as follows:

(a) Binding Obligation. Holder has full legal capacity, power and authority to execute
and deliver this Note and to perform his obligations hereunder. This Note is a valid and binding
obligation of Holder, enforceable in accordance with its terms, except as limited by bankruptcy,
insolvency or other laws of general application relating to or affecting the enforcement of
creditors’ rights generally and general principles of equity.

(b) Securities Law Compliance. Holder has been advised that this Note has not been
registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state
securities laws and, therefore, cannot be resold unless they are registered under the Securities
Act and applicable state securities laws or unless an exemption from such registration requirements
is available. Holder is aware that Company is under no obligation to effect any such registration
with respect to this Note, or the Common Stock issuable or issued pursuant to the conversion of
this Note, or to file for or comply with any exemption from registration. Holder has not been
formed solely for the purpose of making this investment and is purchasing this Note for its own
account for investment, not as a nominee or agent, and not with a view to, or for resale in
connection with, the distribution thereof. Holder has such knowledge and experience in financial
and business matters that Holder is capable of evaluating the merits and risks of such investment,
is able to incur a complete loss of such investment and is able to bear the economic risk of such
investment for an indefinite period of time.

(c) Accredited Investor. Holder is an “accredited investor” within the meaning of SEC
Rule 501 of Regulation D of the Securities Act, as presently in effect.

(d) Restricted Securities. Holder understands that this Note is a “restricted
security” under the federal securities laws inasmuch as it is being acquired from Company in a
transaction not involving a public offering and that under such laws and applicable regulations
such Note may be resold without registration under the Securities Act only in certain limited
circumstances. In the absence of an effective registration statement covering the Note or an
available exemption from registration under the Securities Act, the Note must be held indefinitely.
Holder represents that it is familiar with SEC Rule 144, and understands the resale limitations
imposed thereby and by the Securities Act.

(e) Access to Information. Holder acknowledges that Company has given Holder access
to the corporate records and accounts of Company and to all information in its possession relating
to Company, has made its officers and representatives available for interview by Holder, and has
furnished Holder with all documents and other information required for Holder to make an informed
decision with respect to the purchase of this Note.

6. Events of Default. The occurrence of any of the following shall constitute an
“Event of Default” under this Note:

(a) Failure to Pay. Company shall fail to pay (i) when due any principal or interest
payment on the due date hereunder or (ii) any other payment required under the terms of this Note
on the date due, and (in either case) such payment shall not have been made within twenty (20) days
of Company’s receipt of Holder’s written notice to Company of such failure to pay;

(b) Failure to Perform. Company fails to perform any obligation under this Note and
does not cure that failure within twenty (20) days of Company’s receipt of Holder’s written notice
to Company of such failure to perform; or

(c) Voluntary Bankruptcy or Insolvency Proceedings. Company shall (i) apply for or
consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a
substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its
debts generally as they mature, (iii) make a general assignment for the benefit of its or any of
its creditors, (iv) be dissolved or liquidated, (v) become insolvent (as such term may be defined
or interpreted under any applicable statute), (vi) commence a voluntary case or other proceeding
seeking liquidation, reorganization or other relief with respect to itself or its debts under any
bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such
relief or to the appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it, or (vii) take any action for the purpose
of effecting any of the foregoing; or

(d) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment
of a receiver, trustee, liquidator or custodian of Company or of all or a substantial part of the
property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
or other relief with respect to Company or the debts thereof under any bankruptcy, insolvency or
other similar law now or hereafter in effect shall be commenced and an order for relief entered or
such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

7. Rights of Holder upon Default. Upon the occurrence or existence of any Event of
Default (other than an Event of Default referred to in Sections 6(c) and 6(d)) and at any time
thereafter during the continuance of such Event of Default, the Majority Holders may, by written
notice to Company, declare all outstanding Obligations payable by Company under the Notes to be
immediately due and payable without presentment, demand, protest or any other notice of any kind,
all of which are hereby expressly waived. Upon the occurrence or existence of any Event of Default
described in Sections 6(c) and 6(d), immediately and without notice, all outstanding Obligations
payable by Company under the Notes shall automatically become immediately due and payable, without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly
waived. In addition to the foregoing remedies, upon the occurrence or existence of any Event of
Default, Holder may exercise any other right power or remedy permitted to him by law, either by
suit in equity or by action at law, or both.

8. Conversion.

(a) Conversion. Holder shall have the right to convert, at any time during the
Conversion Period, all or any portion of the principal amount, together with any unpaid and accrued
interest, then outstanding under this Note into fully paid and non-assessable shares of Common
Stock at a conversion price per share equal to the Conversion Price (as defined below). The number
of shares of Common Stock into which such principal and interest then outstanding under this Note
will be converted shall be determined by dividing the amount of principal, together with all unpaid
and accrued interest, then outstanding under this Note to be converted (the “Conversion Amount”) by
the Conversion Price.

(b) Conversion Price. Subject to Section 8(c), the “Conversion Price” shall be equal
to 80% of the Average Trading Price as reported by the principal trading exchange on which the
Company’s Common Stock is traded for the twenty (20) trading days preceding the date of the Note.

(c) Adjustments to Conversion Price. The Conversion Price shall be subject to
proportional adjustments for stock splits, stock dividends, combinations, consolidations,
reclassifications and the like.

(d) Conversion Procedure. Before Holder shall be entitled to convert the Conversion
Amount then outstanding under this Note into shares of Common Stock, Holder shall surrender this
Note at the office of this Company, and shall give written notice (a form of which is attached to
this Note, the “Conversion Notice”) to Company at its principal corporate office, of the election
to convert the same and shall state therein the total Conversion Amount. Company shall not be
obligated to issue certificates evidencing the shares of Common Stock issuable upon such conversion
unless (i) Holder executes and delivers to Company the Conversion Notice for the converted shares
and (ii) this Note is delivered to Company. Company shall, as soon as practicable after such
delivery, issue and deliver certificates (bearing such legends as are required by applicable state
and federal securities laws in the opinion of counsel to Company and required by this Note and the
Loan Agreement), representing the number of fully paid and non-assessable shares of the Common
Stock into which the Conversion Amount will be converted in accordance with the provisions herein,
and a new promissory note having like tenor as this Note for the principal amount and interest then
outstanding under this Note that are not being so converted. Any conversion pursuant to this
Section 8 shall be deemed to have been made immediately prior to the close of business on the date
of Company’s receipt of the Conversion Notice, so that the rights of Holder under this Note to the
extent of the Conversion Amount shall cease at such time and Holder shall be treated for all
purposes as having become the record holder of such shares of Common Stock at such time.

(e) Fractional Shares; Effect of Conversion. No fractional shares shall be issued
upon conversion of this Note. In lieu of Company issuing any fractional shares to Holder upon the
conversion of this Note, Company shall pay to Holder an amount equal to the product obtained by
multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous
sentence. Upon conversion of this Note in full and the payment of the amounts specified in this
Section 9(f), Company shall be forever released from all its obligations and liabilities under this
Note.

(f) Reservation of Stock Issuable Upon Conversion. Company shall at all times reserve
and keep available out of its authorized but unissued shares of Common Stock solely for the purpose
of effecting the conversion of this Note such number of its shares of Common Stock as shall from
time to time be sufficient to effect the conversion of this Note.

9. Reserved

10. Effect of Sale Transaction. Upon the occurrence of any Sale Transaction, the
Successor Entity (as defined below) shall succeed to, and be substituted for the Company (so that
from and after the date of such Sale Transaction, the provisions of this Note referring to the
“Company” shall refer instead to the Successor Entity), and may exercise every right and power of
the Company and shall assume all of the obligations of the Company under this Note with the same
effect as if such Successor Entity had been named as the Company herein. Upon consummation of the
Sale Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be
issued upon conversion of this Note at any time after the consummation of the Sale Transaction, in
lieu of the shares of the Common Stock purchasable upon the conversion of the Notes prior to such
Sale Transaction, such shares of common stock (or other securities, cash, assets or other property)
of the Successor Entity. The provisions of this Section shall apply similarly and equally to
successive Sale Transactions and shall be applied without regard to any limitations on the
conversion of this Note. As used in this Section 10, “Successor Entity” means the Person, which
may be the Company, formed by, resulting from or surviving any Sale Transaction, or the parent
entity of such Person, as applicable.

11. Successors and Assigns. Subject to the restrictions on transfer described in
Sections 12 and 13 below, the rights and obligations of Company and Holder of this Note shall be
binding upon and benefit the successors, assigns, heirs, administrators and transferees of the
parties.

12. Waiver and Amendment. Any term of this Note may be amended or waived only with
the written consent of Company and the Majority Holders; provided, however, that any such amendment
or modification which by its terms would not apply equally to all holders of the Notes shall not be
applicable to any holder whose rights under the Notes would be adversely affected by such amendment
or modification in a different manner than other holders thereof without such adversely affected
holder’s written consent.

13. Transfer of this Note or Securities Issuable on Conversion Hereof. With respect
to any offer, sale or other disposition of this Note or securities into which such Note may be
converted, Holder will give written notice to Company prior thereto, describing briefly the manner
thereof, together with a written opinion of Holder’s counsel, or other evidence if reasonably
satisfactory to Company, to the effect that such offer, sale or other distribution may be effected
without registration or qualification (under any federal or state law then in effect). Upon
receiving such written notice and reasonably satisfactory opinion, if so requested, or other
evidence, Company, as promptly as practicable, shall notify Holder that Holder may sell or
otherwise dispose of this Note or such securities, all in accordance with the terms of the notice
delivered to Company. If a determination has been made pursuant to this Section 12 that the
opinion of counsel for Holder, or other evidence, is not reasonably satisfactory to Company,
Company shall so notify Holder promptly after such determination has been made. Each Note thus
transferred and each certificate representing the securities thus transferred shall bear a legend
as to the applicable restrictions on transferability in order to ensure compliance with the
Securities Act, unless in the opinion of counsel for Company such legend is not required in order
to ensure compliance with the Securities Act. Company may issue stop transfer instructions to its
transfer agent in connection with such restrictions. Subject to the foregoing, transfers of this
Note shall be registered upon registration books maintained for such purpose by or on behalf of
Company. Prior to presentation of this Note for registration of transfer, Company shall treat the
registered Holder hereof as the owner and Holder of this Note for the purpose of receiving all
payments of principal and interest hereon and for all other purposes whatsoever, whether or not
this Note shall be overdue and Company shall not be affected by notice to the contrary.

14. Notices. Any notices, consents, waivers or other communications required or
permitted to be given under the terms of this Agreement must be in writing and will be deemed to
have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one business day after deposit with an overnight
courier service, in each case properly addressed to the party to receive the same. The addresses
and facsimile numbers for such communications shall be to the respective addresses or facsimile
numbers of the parties as set forth in the Loan Agreement, or at such other address or facsimile
number as such parties shall have furnished in writing.

15. Usury. In the event any interest is paid on this Note which is deemed to be in
excess of the then legal maximum rate, then that portion of the interest payment representing an
amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied
against the principal of this Note.

16. Waivers. Company hereby waives notice of default, presentment or demand for
payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to
this instrument.

17. Governing Law and Forum. This Note and all actions arising out of or in
connection with this Note shall be governed by and construed in accordance with the laws of the
State of Colorado, United States of America, without regard to the conflicts of law provisions of
the State of Colorado, or of any other state. All disputes or controversies relating to or arising
from this Note shall be adjudicated in the state and federal courts located in the state of
Colorado. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION
WITH RESPECT TO THIS NOTE AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS
WAIVER. The Convention on Contracts for the International Sale of Goods shall not apply to this
Note.

[Remainder of Page Intentionally Left Blank]

1

IN WITNESS WHEREOF, Company has caused this Note to be issued as of the date first written
above and Holder agrees to the terms and conditions of this Note.

VIASPACE INC.

By:/s/ Carl Kukkonen

	 	 	Name: Carl Kukkonen

Its: CEO

KEVIN SCHEWE

/s/ Kevin Schewe

NOTICE OF CONVERSION

(To be executed by the Registered Holder in order to convert the Note)

The undersigned hereby elects to convert $      of the principal and $      of the
interest due on the Note issued by VIASPACE Inc. on [ ] into Shares of Common Stock
of VIASPACE Inc. (the “Borrower”) according to the conditions set forth in such Note, as of the
date written below.

Date of Conversion:      

Conversion Price:      

Shares To Be Delivered:      

Signature:      

Print Name:      

Address:      

      

2

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