Document:

EX-10.6

 

Exhibit 10.6

EMPLOYMENT AGREEMENT

     This Agreement is entered into by and between CA, Inc. (the “Company”) and Amy Fliegelman
Olli (the “Employee”) as of the date that it has been duly executed by both parties, provided
that the. Employee commences employment under the terms of this Agreement on or around September
13, 2006 as is mutually agreed by the parties (such first date of employment being referred to
herein as the “Effective Date”).

     1. Employment, Duties, Authority and Work Standards. The Company hereby agrees to
employ the Employee on the Effective Date as Executive Vice President and Co-General Counsel and
the Employee hereby accepts such positions and agrees to serve the Company in such capacities
during the Employment Period (as defined below). The Employee shall report directly to the
Company’s Chief Executive Officer. The Employee’s duties, responsibilities and authority shall be
such duties, responsibilities and authority as are consistent with the above job titles and such
other duties, responsibilities and authority as the Chief Executive Officer shall from time to time
specify commensurate with her position. Such duties shall include responsibility for all legal
matters and the worldwide legal department, provided however, that while the current General
Counsel remains with the Company, duties associated with oversight of internal audit department,
corporate compliance and the role of corporate secretary are excluded. The Employee will (a) serve
the Company (and such of its subsidiary companies as the Company may designate) faithfully,
diligently and to the best of the Employee’s ability under the direction of the Chief Executive
Officer, (b) devote her full working time and best efforts, attention and energy to the performance
of her duties to the Company and (c) not do anything inconsistent with her duties to the Company.

     2. Laws; Other Agreements. The Employee represents that her employment hereunder
will not violate any law or duty by which she is bound, and will not conflict with or violate any
agreement or instrument to which the Employee is a party or by which she is bound.

     3. Sign-On Bonus. The Company shall pay the Employee a cash payment equal to
$185,000 (the “Sign-On Bonus”) in the following manner. The Company shall pay the Sign-On Bonus no
later than the first scheduled payroll date after the first 30 days of the Employment Period.
Notwithstanding the foregoing, in the event that the Employee is terminated for Cause or resigns
without Good Reason prior to the first anniversary of the Effective Date, the Employee shall be
obligated to immediately repay to the Company the Sign-On Bonus paid to her.

     4. Compensation.

          (a) In consideration of services that the Employee will render to the Company, the Company
agrees to pay the Employee, during the Employment Period, the sum of $450,000 per annum (the “Base
Salary”), payable semi-monthly concurrent with the Company’s normal payroll cycle.

          (b) In addition to the Base Salary, during the Employment Period, the Employee shall have an
opportunity to earn an annual cash bonus (“Annual Bonus”) under the Company’s Annual Performance
Bonus program in accordance with Section 4.4 of the Company’s 2002 Incentive Plan, as amended and
restated, or any successor thereto (the “Incentive Plan”); provided that, with respect to the
fiscal year ending March 31, 2007, the Employee’s Annual Performance Bonus target shall equal
$400,000, provided that such targeted amount and the other terms and conditions of such Annual
Performance Bonus shall be subject to determination and approval of the Compensation and Human
Resource Committee of the Board of Directors (the “Compensation Committee”) in accordance with the
terms of the Incentive Plan.

          (c) In addition, the Employee shall also be eligible to receive a targeted Long-Term
Performance Bonus of $1,000,000 for the performance period commencing on April 1, 2006 under the
Company’s Long-Term Performance Bonus program as set forth in Section 4.5 of the Incentive Plan,
provided that such targeted amount and the other terms and conditions of such Long-Term Performance
Bonus shall be subject to determination and approval of the Compensation Committee in accordance
with the terms of the Incentive Plan.

          (d) Subject to applicable law, management will recommend that, following the Effective Date,
the Employee will be granted an award of 15,000 restricted shares of the

 

 

Company’s Common Stock (“Restricted Stock”), subject to restrictions on transferability as set
forth in the Incentive Plan and the Restricted Stock grant agreement provided to the Employee.
Such Restricted Stock grant agreement shall provide that the restrictions applicable to the
Restricted Stock shall lapse in three (3) relatively equal annual installments commencing on the
first anniversary of the date of grant, provided the Employee remains employed through each such
anniversary.

          (e) All payments to the Employee shall be subject to applicable tax withholding.

     5. Benefits and Perquisites. During the term of the Employee’s employment, the
Employee shall be eligible to participate in all pension, welfare and benefit plans and perquisites
generally made available to other senior employees of the Company. Additionally, for so long as
the Employee resides more than 100 miles outside of Islandia, NY, the Company shall provide a
stipend of not less than $5,000 per month for transportation to and from the Company’s offices from
the Employee’s residence. Additionally, while in Islandia, NY, the Employee will be provided with
corporate housing in accordance with the Company’s policy for at least 12 months following the
Effective Date (the Company may, in its discretion, continue such corporate housing on an annual
basis thereafter).

          Management will also recommend to the Board that the Employee be included as a Schedule B
participant in the Company’s Change in Control Severance Policy (the “CIC Severance Policy”),
provided that such participation and any other terms and conditions related to such participation
shall be at the discretion of the Board in accordance with the terms of such CIC Severance Policy.

     6. Termination; Termination Payments.

          (a) Unless the Employee’s employment shall sooner terminate for any reason pursuant to
paragraph 7 of this Agreement, the “Employment Period” shall commence on the Effective Date and
shall initially terminate on September 30, 2009, except that beginning on September 30, 2009 and
each September 30 thereafter, the Employment Period will automatically extend for one year unless
either the Employee or the Company gives at least 60 days’ advanced written notice of
non-extension.

          (b) In the event that the Employee’s employment is terminated during the Employment Period (i)
by the Employee for Good Reason (as defined in Appendix A) or (ii) by the Company without Cause (as
defined in Appendix A), other than as a result of the Employee’s death or disability (within the
meaning of the Company’s long-term disability program then in effect), subject to the Employee’s
execution and delivery of a valid and effective release and waiver in a form satisfactory to the
Company, the Company shall pay the Employee a lump sum cash amount equal to one (1) times
Employee’s Base Salary.

          (c) Notwithstanding anything herein to the contrary, upon the termination of the Employee’s
employment for any reason, the rights of the Employee with respect to any shares of restricted
stock or options to purchase Common Stock held by the Employee which, as of the Termination Date,
have not been forfeited shall be subject to the applicable rules of the plan or agreement under
which such restricted stock or options were granted as they exist from time to time. In addition,
upon the termination of the Employee’s employment for any reason, the Company shall pay to the
Employee her Base Salary through the Termination Date, plus any unused vacation time accrued
through the Termination Date. Any vested benefits and other amounts that the Employee is otherwise
entitled to receive under any employee benefit plan, policy, practice or program of the Company or
any of its affiliates shall be payable in accordance with such employee benefit plan, policy,
practice or program as the case may be, provided that the Employee shall not be entitled to receive
any other payments or benefits in the nature of severance or termination pay.

          (d) In the event that the Employee resigns other than for Good Reason, is terminated for
Cause, dies or becomes disabled (within the meaning of the Company’s long-term disability program
then in effect) during the Employment Period, no benefits shall be payable to the Employee under
paragraph 6(b) of this Agreement, but the terms and conditions of paragraph 6(c) shall remain in
effect.

          (e) If the Employee is a participant in the Company’s CIC Severance Policy and a
“Change in Control” occurs, any payments and benefits provided in the CIC Severance Policy that the
Employee is entitled to will reduce (but not below zero) the corresponding payment or

2

 

benefit provided under this Agreement. It is the intent of this provision to pay or to
provide to the Employee the greater of the two payments or benefits but not to duplicate them.

     7. No Duration of Employment. Notwithstanding anything else contained in this Agreement
to the contrary, the Company and the Employee each acknowledge and agree that the Employee’s
employment with the Company may be terminated by either the Company upon 30 days’ written notice to
the Employee (subject to the provisions of paragraph 6 of this Agreement) or by the Employee upon
60 days’ written notice to the Company (subject to the provisions of paragraph 6 of this
Agreement), at any time and for any reason, with or without cause; provided that this Agreement may
be terminated for Cause immediately upon written notice from the Company to the Employee; and
provided further that the Company may determine to waive all or part of the Employee’s 60 days’
notice period at its discretion. In addition, this Agreement shall automatically terminate upon
Employee’s death or disability (determined in accordance with the Company’s practices and
policies). Upon termination of the Employee’s employment for any reason whatsoever, the Company
shall have no further obligations to the Employee other than those set forth in paragraph 6 of this
Agreement. The effective date of the Employee’s termination of employment shall be referred to
herein as the “Termination Date.”

     8. General.

          (a) Any notice required or permitted to be given under this Agreement shall be made either:

               (i) by personal delivery to the Employee or, in the case of the Company, to the Company’s
principal office (“Principal Office”) located at One CA Plaza, Islandia, New York 11749, Attention:
Executive Vice President – Human Resources, or

               (ii) in writing and sent by registered mail, postage prepaid, to the Employee’s residence,
or, in the case of the Company, to the Company’s Principal Office.

          (b) This Agreement shall be binding upon the Employee and her heirs, executors, assigns, and
administrators and shall inure to the benefit of the Company, its successors and assigns and any
subsidiary or parent of the Company.

          (c) This Agreement shall be governed by and construed in accordance with the laws of the State
of New York, without regard to conflict of law principles. Any action relating to this Agreement
shall be brought exclusively in the state or federal courts of the State of New York, County of
Suffolk.

          (d) This Agreement, the Employment and Confidentiality Agreement executed by the Employee on
or about the Effective Date and the other documents referred to herein represent the entire
agreement between the Employee and the Company related to the Employee’s employment and supersede
any and all previous oral or written communications, representations or agreements related thereto.
This Agreement may only be modified, in writing, jointly by the Employee and a duly authorized
representative of the Company. This Agreement may be executed in several counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same instrument.
However, this Agreement will not be effective until the date it has been executed by both parties.

          (e) The provisions of this Agreement shall be severable in the event that any of the
provisions hereof (including any provision within a single paragraph or sentence) are held by a
court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and
the validity and enforceability of any such provision in every other respect and of the remaining
provisions hereof shall not in any way be impaired and shall remain enforceable to the fullest
extent permitted by law. In addition, waiver by any party hereto of any breach or default by the
other party of any of the terms of this Agreement shall not operate as a waiver of any other breach
or default, whether similar to or different from the breach or default waived. No waiver of any
provision of this Agreement shall be implied from any course of dealing between the parties hereto
or from any failure by either party hereto to assert its or her rights hereunder on any occasion or
series of occasions.

3

 

CAUTION TO EXECUTIVE: This Agreement affects important rights. DO NOT sign it unless you have read
it carefully and are satisfied that you understand it completely.

	 	 	 	 	 	 	 
	 	 	 	 	CA, INC.
	 
	 	 	 	 	 	 
	/s/ Amy Fliegelman Olli

	 	 	 	By:
	 	/s/ Andrew Goodman
	 	 	 	 	 	 	 
	Amy Fliegelman Olli

	 	 	 	Name:
	 	Andrew Goodman
	 

	 	 	 	Title:
	 	Executive Vice President, HR
	 
	 	 	 	 	 	 
	Date: August 22, 2006

	 	 	 	Date:
	 	August 17, 2006

4

 

Appendix A

     For purposes of this Agreement, “Cause” means any of the following:

          (1) The Employee’s continued failure, either due to willful action or as a result of gross
neglect, to substantially perform her duties and responsibilities to the Company and its affiliates
(the “Group”) under this Agreement (other than any such failure resulting from the Employee’s
incapacity due to physical or mental illness) that, if capable of being cured, has not been cured
within thirty (30) days after written notice is delivered to the Employee, which notice specifies
in reasonable detail the manner in which the Company believes the Employee has not substantially
performed her duties and responsibilities.

          (2) The Employee’s engagement in conduct which is demonstrably and materially injurious to the
Group, or that materially harms the reputation or financial position of the Group, unless the
conduct in question was undertaken in good faith on an informed basis with due care and with a
rational business purpose and based upon the honest belief that such conduct was in the best
interest of the Group.

          (3) The Employee’s indictment or conviction of, or plea of guilty or nolo contendere to, a
felony or any other crime involving dishonesty, fraud or moral turpitude.

          (4) The Employee’s being found liable in any SEC or other civil or criminal securities law
action or entering any cease and desist order with respect to such action (regardless of whether or
not she admits or denies liability).

          (5) The Employee’s breach of her fiduciary duties to the Group which may reasonably be
expected to have a material adverse effect on the Group. However, to the extent the breach is
curable, the Company must give the Employee notice and a reasonable opportunity to cure.

          (6) The Employee’s (i) obstructing or impeding, (ii) endeavoring to influence, obstruct or
impede or (iii) failing to materially cooperate with, any investigation authorized by the Board (an
“Investigation”). However, the Employee’s failure to waive attorney-client privilege relating to
communications with her own attorney in connection with an Investigation shall not constitute
“Cause”.

          (7) The Employee’s withholding, removing, concealing, destroying, altering or by any other
means falsifying any material which is requested in connection with an Investigation.

          (8) The Employee’s disqualification or bar by any governmental or self-regulatory authority
from serving in the capacity contemplated by this Agreement or her loss of any governmental or
self-regulatory license that is reasonably necessary for her to perform her responsibilities to the
Group under this Agreement, if (a) the disqualification, bar or loss continues for more than 30
days and (b) during that period the Group uses its good faith efforts to cause the disqualification
or bar to be lifted or the license replaced. While any disqualification, bar or loss continues
during the Employee’s employment, she will serve in the capacity contemplated by this Agreement to
whatever extent legally permissible and, if her employment is not permissible, she will be placed
on leave (which will be paid to the extent legally permissible).

          (9) The Employee’s unauthorized use or disclosure of confidential or proprietary information,
or related materials, or the violation of any of the terms of the Employment and Confidentiality
Agreement executed by the Employee or any Company standard confidentiality policies and procedures,
which may reasonably be expected to have a material adverse effect on the Group and that, if
capable of being cured, has not been cured within thirty (30) days after written notice is
delivered to the Employee by the Company, which notice specifies in reasonable detail the alleged
unauthorized use or disclosure or violation.

          (10) The Employee’s violation of the Group’s (i) Workplace Violence Policy or (ii) policies on
discrimination, unlawful harassment or substance abuse.

     For this definition, no act or omission by the Employee will be “willful” unless it is made by
the Employee in bad faith or without a reasonable belief that her act or omission was in the best
interests of the Group.

5

 

     For purposes of this Agreement, “Good Reason” shall mean any of the following:

          (1) Any material and adverse change in the Employee’s title;

          (2) Any material and adverse reduction in the Employee’s authorities or responsibilities other
than any isolated, insubstantial and inadvertent failure by the Company that is not in bad faith
and is cured promptly on the Employee’s giving the Company notice (and for purposes of
clarification, a change in the number of direct reports will not constitute a material and adverse
reduction in the Employee’s authorities or responsibilities);

          (3) Any reduction by the Company in the Employee’s Base Salary or target level of Annual Bonus
as set forth in Sections 4(a) and (b), respectively, other than any such reduction agreed to by the
Employee in writing;

          (4) The Company’s material breach of this Agreement;

          provided that, no alleged action, reduction or breach set forth in (1) through (4) above shall
be deemed to constitute “Good Reason” unless such action, reduction or breach remains uncured, as
the case may be, after the expiration of thirty (30) days following delivery to the Company from
the Employee of a written notice, setting forth such course of conduct deemed by the Employee to
constitute “Good Reason”. The Company’s placing the Employee on paid leave for up to 90 consecutive
days while it is determining whether there is a basis to terminate the Employee’s employment for
Cause will not constitute Good Reason.

6<PAGE>

                                                                    Exhibit 10.1

                                                                  EXECUTION COPY

                               JOINDER AGREEMENT

            THIS JOINDER AGREEMENT, dated as of August 14, 2006, is by and among
ASSET ACCEPTANCE, LLC, a Delaware limited liability company, successor by merger
to Financial Credit, LLC, a Delaware limited liability company, and CFC
Financial, LLC, a Delaware limited liability company, CONSUMER CREDIT, LLC, a
Delaware limited liability company, and RX ACQUISITIONS, LLC (f/k/a Med-Fi
Acceptance, LLC), a Delaware limited liability company (individually, an
"Existing Borrower" and, collectively, the "Existing Borrowers"), PREMIUM ASSET
RECOVERY CORPORATION, a Florida corporation (the "New Borrower"), and JPMORGAN
CHASE BANK, N.A., as administrative agent (in such capacity, the "Agent") on
behalf of the Banks (as defined below).

                                   WITNESSETH:

            WHEREAS, the Existing Borrowers, the lenders identified therein (the
"Banks") and the Agent are parties to the Credit Agreement dated as of September
30, 2002 (as amended or modified or joined by any Borrower from time to time,
including any agreement entered into in substitution therefor, the "Credit
Agreement"); and

            WHEREAS, the New Borrower desires to become a party to the Credit
Agreement fully as a "Borrower" thereunder, in the manner hereinafter set forth,
as contemplated by the letter agreement, dated as of April 13, 2006, by and
among the Existing Borrowers, Asset Acceptance Holdings LLC, a Delaware limited
liability company, AAC Investors, Inc., a Virginia corporation, RBR Holding
Corp., a Nevada corporation, Asset Acceptance Capital Corp., a Delaware
corporation, the Agent, Comerica Bank, a Michigan banking corporation, Fifth
Third Bank, Eastern Michigan, a Michigan banking corporation, National City Bank
of the Midwest, a national banking association, and LaSalle Bank Midwest
National Association, a national banking association;

            NOW, THEREFORE, in consideration of the premises, the parties hereto
hereby agree as follows:

            1. The undersigned New Borrower hereby acknowledges and agrees that
it has received, reviewed and approved complete copies of the Credit Agreement,
the Notes, the Facility LC Applications, the Security Documents and all other
agreements, instruments, certificates and other documents furnished by or on
behalf of any of the Borrowers in connection therewith (all of the foregoing, as
amended or modified from time to time, including any agreements or instruments
entered into in substitution therefor, being herein collectively referred to as
the "Loan Documents"), and that it has received and reviewed all other financial
statements, and agreements and documents that it has deemed appropriate and
necessary in order to decide to enter into this Joinder Agreement, and New
Borrower has determined that it is in its interest and to its financial benefit
to enter into the transactions contemplated thereby. New Borrower hereby
unconditionally: (a) joins the Credit Agreement and the other Loan Documents as
a "Borrower" thereunder, (b) agrees to be bound by, and hereby ratifies and
confirms, all covenants, agreements, consents, submissions, appointments,
acknowledgments and other terms and provisions attributable to a "Borrower" in
the Credit Agreement, the Notes and the other Loan Documents; and (c) agrees to
perform all obligations required of it as a "Borrower" by the Credit Agreement,
the Notes and the other Loan Documents.

<PAGE>

            2. The New Borrower hereby represents and warrants that the
representations and warranties with respect to it (as a party joined pursuant to
this Joinder Agreement) contained in, or made or deemed made by it in, the
Credit Agreement and any other Loan Documents are true and correct on and as of
the date hereof. The New Borrower represents and warrants that (a) the
execution, delivery and performance by it of this Joinder Agreement are within
its powers as a corporation, have been duly authorized by all necessary
corporate action, require no consent of, action by or in respect of, or filing
with, any shareholder of New Borrower, any creditor of New Borrower, any
governmental body or any other person or entity, and do not contravene, or
constitute a default under, any provision of applicable law or regulation or of
the articles or certificate of incorporation, bylaws or other charter or
organizational documents of it, or of any agreement, judgment, injunction,
order, decree or other instrument binding upon it or its property; and (b) this
Joinder Agreement has been duly executed and delivered and constitutes a legal,
valid and binding obligation of the New Borrower, enforceable against the New
Borrower in accordance with its terms, except as such enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws relating to creditors' rights generally.

            3. The New Borrower agrees to execute and deliver new Notes, such
resolutions and such other documents requested by the Agent as may be necessary
or desirable in order to give effect to, and to aid in the exercise and
enforcement of the rights and remedies of the Banks and the Agent under and
pursuant to, this Joinder Agreement and the Loan Documents.

            4. Each of the Existing Borrowers acknowledges and consents to this
Joinder Agreement, agrees that each of the Credit Agreement and the other Loan
Documents shall remain in full force and effect after giving effect to this
Joinder Agreement, and agrees to execute and deliver new Notes and such other
documents requested by the Agent as may be necessary or desirable in order to
give effect to, and to aid in the exercise and enforcement of the rights and
remedies of the Banks and the Agent under and pursuant to, this Joinder
Agreement and the Loan Documents.

            5. Each of the undersigned Guarantors agrees that its Guaranty
executed in connection with the Credit Agreement shall remain in full force and
effect after giving effect to this Joinder Agreement, including, without
limitation, after including the New Borrower as a "Borrower" under the Credit
Agreement, and such Guaranty shall also guarantee, without limitation, all of
the Obligations of the New Borrower.

            6. Schedule 4.4 attached to this Joinder Agreement is an updated
version of Schedule 4.4 attached to the Credit Agreement (the "Earlier
Schedule"), with respect to which the Borrowers hereby make, as of the date
hereof, the same representations and warranties as set forth in Section 4.4 of
the Credit Agreement with respect to the Earlier Schedule.

            7. This Joinder Agreement shall be governed by, and construed and
interpreted in accordance with, the laws of the State of Michigan.

            8. Capitalized terms used but not defined herein shall have the
meanings ascribed thereto in the Credit Agreement.

            9. This Joinder Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one agreement.

              [The rest of this page is intentionally left blank.]

                                      -2-
<PAGE>

      IN WITNESS WHEREOF, each of the undersigned has caused this Joinder
Agreement to be duly executed and delivered as of the day and year set forth
above.

                                      ASSET ACCEPTANCE, LLC
                                      CONSUMER CREDIT, LLC
                                      RX ACQUISITIONS, LLC

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------
                                              Nathaniel F. Bradley IV
                                              The President of each of them

                                      PREMIUM ASSET RECOVERY
                                        CORPORATION
                                      OUTCOLL SERVICES, INC.

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------
                                              Nathaniel F. Bradley IV
                                              The Chairman of the Board and
                                               CEO of each of them

                                      ASSET ACCEPTANCE CAPITAL CORP.

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------

                                      Print Name:  Nathaniel F. Bradley IV

                                        Its:  President and CEO

                                      AAC INVESTORS, INC.

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------

                                      Print Name:  Nathaniel F. Bradley IV

                                        Its:  President and CEO

                                      RBR HOLDING CORP.

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------

                                      Print Name:  Nathaniel F. Bradley IV

                                        Its:  President and CEO

                                      -3-
<PAGE>

                                      ASSET ACCEPTANCE HOLDINGS LLC
                                      CONSUMER CREDIT, LLC
                                      RX ACQUISITIONS, LLC

                                      By: /s/ Nathaniel F. Bradley IV
                                         ---------------------------------------

                                      Print Name:  Nathaniel F. Bradley IV

                                        Its:  Manager

                                      JPMORGAN CHASE BANK, N.A., successor
                                      by merger to Bank One, NA (Main Office
                                      Chicago), individually and as Agent

                                      By: /s/ Timothy E. Rettberg
                                         ---------------------------------------

                                      Print Name:  Timothy E. Rettberg

                                        Its:  Vice President

                                      -4-
<PAGE>

                                  Schedule 4.4

                                  Subsidiaries

<TABLE>
<CAPTION>
         NAME OF SUBSIDIARY           % OF OWNERSHIP      ENTITY THAT HOLDS OWNERSHIP
-----------------------------------   --------------   ----------------------------------
<S>                                   <C>              <C>
AAC Investors, Inc.                        100%        Asset Acceptance Capital Corp.

RBR Holding Corp.                          100%        Asset Acceptance Capital Corp.

Asset Acceptance Holdings LLC               60%        AAC Investors, Inc.

Asset Acceptance Holdings LLC               40%        RBR Holding Corp.

Asset Acceptance, LLC (successor by        100%        Asset Acceptance Holdings LLC
merger to Financial Credit, LLC and
CFC Financial, LLC)

Consumer Credit, LLC                       100%        Asset Acceptance Holdings LLC

RX Acquisitions, LLC (f/k/a Med-Fi         100%        Asset Acceptance Holdings LLC
Acceptance, LLC)

Premium Asset Recovery Corporation         100%        Asset Acceptance Holdings LLC

Outcoll Services, Inc.                     100%        Premium Asset Recovery Corporation
</TABLE>

                                      -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}]]