Document:

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                                                                   Exhibit 10.14

                               SERVICING AGREEMENT

                                      among

                             CONN FUNDING II, L.P.,
                                   AS ISSUER,

                                   CAI, L.P.,
                                  AS SERVICER,

                                       and

                WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION,
                                   AS TRUSTEE

                                   ----------

                          DATED AS OF SEPTEMBER 1, 2002

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                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

ARTICLE I    DEFINITIONS.......................................................1

     Section 1.01  Defined Terms...............................................1

     Section 1.02  Definitions.................................................2

     Section 1.03  Other Definitional Provisions...............................3

ARTICLE II   ADMINISTRATION AND SERVICING OF RECEIVABLES AND
             RELATED SECURITY..................................................3

     Section 2.01  Appointment of Servicer.....................................3

     Section 2.02  Duties of Servicer..........................................5

     Section 2.03  Rights After Designation of New Servicer...................11

     Section 2.04  Servicer Default...........................................11

     Section 2.05  Servicer Indemnification of Indemnified Parties............13

     Section 2.06  Grant of License...........................................13

     Section 2.07  Servicing Compensation.....................................14

     Section 2.08  Representations and Warranties of the Servicer.............14

     Section 2.09  Reports and Records for the Trustee........................17

     Section 2.10  Reports to the Commission..................................17

     Section 2.11  Affirmative Covenants of the Servicer......................17

     Section 2.12  Negative Covenants of the Servicer.........................19

ARTICLE III  RIGHTS OF NOTEHOLDERS AND ALLOCATION AND APPLICATION
             OF COLLECTIONS...................................................20

     Section 3.01  Establishment of Accounts..................................20

     Section 3.02  Collections and Allocations................................20

ARTICLE IV   OTHER SERVICER POWERS............................................22

     Section 4.01  Appointment of Paying Agent................................22

     Section 4.02  Meetings of Noteholders....................................22

ARTICLE V    OTHER MATTERS RELATING TO THE SERVICER...........................22

     Section 5.01  Liability of the Servicer..................................22

     Section 5.02  Limitation on Liability of the Servicer and Others.........22

     Section 5.03  Servicer Not to Resign.....................................23

     Section 5.04  Waiver of Defaults.........................................23

ARTICLE VI   ADDITIONAL OBLIGATION OF THE SERVICER WITH RESPECT TO
             THE TRUSTEE......................................................23

     Section 6.01  Successor Trustee..........................................23

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     Section 6.02  Tax Returns................................................24

     Section 6.03  Final Payment with Respect to Any Series...................24

ARTICLE VII  MISCELLANEOUS PROVISIONS.........................................24

     Section 7.01  Amendment..................................................24

     Section 7.02  Protection of Right, Title and Interest to Receivables
                   and Related Security.......................................25

     Section 7.03  Governing Law..............................................26

     Section 7.04  Notices....................................................26

     Section 7.05  Severability of Provisions.................................26

     Section 7.06  Delegation.................................................27

     Section 7.07  Waiver of Trial by Jury....................................27

     Section 7.08  Further Assurances.........................................27

     Section 7.09  No Waiver; Cumulative Remedies.............................27

     Section 7.10  Counterparts...............................................27

     Section 7.11  Third-Party Beneficiaries..................................27

     Section 7.12  Actions by Noteholders.....................................27

     Section 7.13  Rule 144A Information......................................28

     Section 7.14  Merger and Integration.....................................28

     Section 7.15  Headings...................................................28

     Section 7.16  Rights of the Trustee......................................28

EXHIBITS
     Exhibit A-1  Form of Monthly Servicer Report
     Exhibit A-2  Form of Monthly Noteholders' Statement
     Exhibit B    Form of Annual Servicer's Certificate
     Exhibit C    Form of Credit and Collection Policy
     Exhibit D    Form of Accounting Control Procedures and Processing Report
     Exhibit E    Form of Post Office Box Agreement

SCHEDULES

     Schedule 2.08(i)  Litigation

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          SERVICING AGREEMENT dated as of September 1, 2002 (the "Agreement") by
and among CONN FUNDING II, L.P., a Texas limited partnership, as issuer (the
"Issuer"), CAI, L.P., a Texas limited partnership ("CAI"), as initial Servicer,
and WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, a national banking
association, as trustee under the Indenture (defined below) (in such capacity,
together with its successors and assigns in such capacity, the "Trustee").

          WHEREAS, the Issuer has purchased from Conn Funding I, L.P., and has
purchased and desires to continue to purchase from Conn Appliances, Inc., and
CAI (collectively, and together with any additional "Sellers" added from time to
time pursuant to the Purchase Agreement referenced below, the "Sellers"), from
time to time, Receivables and other Related Security relating to such
Receivables pursuant to the terms of and subject to the conditions set forth in
the Receivables Purchase Agreement dated as of September 1, 2002 (as amended on
and through the date hereof and as further amended, supplemented or otherwise
modified from time to time the "Purchase Agreement") between the Sellers and the
Issuer.

          WHEREAS, the Issuer is entering into a Base Indenture dated as of the
date hereof, together with one or more supplements thereto (as amended,
supplemented or otherwise modified from time to time, the "Indenture"), between
the Issuer and the Trustee, and each of the other related Transaction Documents,
pursuant to which the Issuer plans to issue one or more Notes from time to time,
in order to finance its business operations.

          WHEREAS, the Servicer is willing to service all Receivables and other
Related Security acquired by the Issuer from time to time, pursuant to the terms
and subject to the conditions set forth in this Agreement.

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

                                    ARTICLE I

                                   DEFINITIONS

          Section 1.01  Defined Terms. As used in this Agreement, the following
terms have the following meanings:

               "Back-Up Servicer" is defined in Section 2.01(b).

               "Back-Up Servicing Agreement" is defined in Section 2.01(b).

               "CAI" is defined in the preamble.

               "Consolidated Net Worth" means at any date, with respect to any
          Person, the consolidated stockholders' equity of such Person and its
          consolidated Subsidiaries, plus the principal amount of subordinated
          debt of such Person, minus (to the extent reflected in determining
          such consolidated stockholders' equity) all intangible assets
          (determined in accordance with GAAP) as reported in

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          the audited consolidated financial statements of such Person for the
          fiscal year in question.

               "Custodian" is defined in Section 2.02(a)(ii).

               "Field Collections" is defined in Section 2.02(c).

               "Indemnified Parties" is defined in Section 2.05.

               "Indenture" is defined in the second recital.

               "In-Store Payments" is defined in Section 2.02(c).

               "Investor Servicing Fee" is defined in Section 2.07.

               "Issuer" is defined in the preamble.

               "Issuer Servicing Fee" is defined in Section 2.07.

               "Mail Payments" is defined in Section 2.02(c).

               "Post Office Box" means post office box 1687 in the name of the
          Issuer maintained by the Issuer or the Servicer for the receipt of
          Collections from the Obligors.

               "Post Office Box Agreement" means an agreement by and among the
          Issuer, the Trustee, the Servicer and the United States Postal
          Service, in substantially the form attached hereto as Exhibit E,
          specifying the rights of the parties in the Post Office Box.

               "Purchase Agreement" is defined in the first recital.

               "Sellers" is defined in the first recital.

               "Servicer" is defined in Section 2.01(a).

               "Servicer Default" is defined in Section 2.04.

               "Servicing Fee" is defined in Section 2.07.

               "Specified Servicer Default" means any Servicer Default of the
          type specified in paragraph (a), (b), (c) or (d) of Section 2.04.

               "Trustee" is defined in the preamble.

          Section 1.02  Definitions. Capitalized terms used but not defined
herein shall have the respective meanings given to such terms in the Indenture
and, to the extent applicable, the Series Supplement for each Series.

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          Section 1.03  Other Definitional Provisions.

               (a)  All terms defined in this Agreement shall have the defined
          meanings when used in any certificate or other document made or
          delivered pursuant hereto unless otherwise defined therein.

               (b)  As used herein and in any certificate or other document made
          or delivered pursuant hereto or thereto, accounting terms not defined
          herein or in the Indenture shall have the respective meanings given to
          them under GAAP, subject to the Indenture. To the extent that the
          definitions of accounting terms herein are inconsistent with the
          meanings of such terms under GAAP, the definitions contained herein
          shall control.

               (c)  Unless the context otherwise requires, if more than one
          Person is acting as Servicer under this Agreement, the agreements,
          representations and warranties of the Servicer in this Agreement shall
          be deemed to be the joint and several agreements, representations and
          warranties of such Persons for so long as such Persons act in such
          capacity under this Agreement; provided, that notwithstanding the
          above, CAI shall remain liable for claims arising for breach of such
          agreements, representation and warranties that arise from events that
          occurred while it was acting in such capacity under this Agreement.

               (d)  The words "hereof," "herein" and "hereunder" and words of
          similar import when used in this Agreement shall refer to this
          Agreement as a whole and not to any particular provision of this
          Agreement; and Section, subsection, Schedule and Exhibit references
          contained in this Agreement are references to Sections, subsections,
          Schedules and Exhibits in or to this Agreement unless otherwise
          specified.

                                   ARTICLE II

                          ADMINISTRATION AND SERVICING
                       OF RECEIVABLES AND RELATED SECURITY

          Section 2.01  Appointment of Servicer.

               (a)  The servicing, administering and collection of the
          Receivables shall be conducted by such Person (the "Servicer") so
          designated from time to time in accordance with this Section 2.01.
          Until the Trustee gives notice to CAI of the designation of a new
          Servicer pursuant to this Section 2.01, CAI is hereby designated as,
          and hereby agrees to perform the duties and obligations of, the
          Servicer pursuant to the terms hereof. The Servicer may not delegate
          any of its rights, duties or obligations hereunder, or designate a
          substitute Servicer, without the prior written consent of the Trustee,
          the Enhancement Providers and the Notice Persons; provided, however,
          that CAI shall be permitted to delegate its duties hereunder to any of
          its Affiliates or their agents and may use sub-Servicers, but such
          delegation shall not relieve CAI of its duties and obligations
          hereunder.

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               (b)  (i) After the occurrence of a Servicer Default or any Pay
          Out Event, the Trustee may, and upon the direction of the Required
          Noteholders or in the case of a Specified Servicer Default shall, in
          accordance with the provisions set forth in clause (ii) below, appoint
          Wells Fargo Bank Minnesota, National Association, to succeed CAI as
          Servicer hereunder (in such capacity, together with its respective
          successors and assigns in such capacity, the "Back-Up Servicer")
          pursuant to the Back-Up Servicing Agreement dated as of the date
          hereof (as amended, supplemented or otherwise modified from time to
          time the "Back-Up Servicing Agreement), among the Back-Up Servicer and
          the various other parties thereto.

                    (ii)   If (x) the Back-Up Servicer, on the date of its
               appointment as successor Servicer or at any time following such
               appointment, fails or is unable to perform the duties of the
               Servicer hereunder or has previously resigned or otherwise been
               terminated as Back-Up Servicer, or (y) any other Person
               designated successor Servicer in accordance with this Section
               2.01 resigns, fails or is unable to perform the duties of the
               Servicer hereunder following its appointment as successor
               Servicer, the Trustee may, and upon the direction of the Required
               Noteholders shall, appoint as Servicer any Person to succeed the
               then-current Servicer on the condition in each case that any such
               Person so appointed shall agree to perform the duties and
               obligations of the Servicer pursuant to the terms hereof. Until
               such time as the Person so appointed becomes obligated to begin
               acting as Servicer hereunder, the then current Servicer will
               continue to perform all servicing functions under this Agreement
               and the other Transaction Documents. If the Trustee is not able
               to appoint a new Servicer to succeed CAI, the Back-Up Servicer or
               any other Person then acting as Servicer, within a reasonable
               time following the date upon which it is required to so appoint a
               successor to the Servicer pursuant to this Section 2.01 (but in
               any event not later than 30 days following such date), the
               Trustee shall at the Issuer's expense petition a court of
               competent jurisdiction to appoint as the Servicer hereunder any
               established financial institution having, in the case of any
               entity that is subject to risk-based capital adequacy
               requirements, risk-basked capital of at least $25,000,000 or, in
               the case of an entity that is not subject to risk-based capital
               requirements, having a net worth of not less than $25,000,000 and
               whose regular business includes the servicing of receivables
               comparable to the Receivables which are the subject of this
               Agreement and the other Transaction Documents. Following any
               appointment of a successor Servicer pursuant to this Section
               2.01, the Trustee will provide notice thereof to the Issuer, the
               Sellers, the Enhancement Providers and the Noteholders.

               (c)  The Trustee shall not be responsible for any differential
          between the Servicing Fee and any compensation paid to a successor
          Servicer hereunder.

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          Section 2.02  Duties of Servicer.

               (a)  (i) The Servicer shall take or cause to be taken all such
          action as may be reasonably necessary or advisable to collect each
          Receivable from time to time, all in accordance with applicable Laws,
          with reasonable care and diligence, and in accordance with the Credit
          and Collection Policy. Each of the Issuer, each Noteholder by its
          acceptance of the related Notes and each of the other Secured Parties
          (through their deemed appointment of the Trustee pursuant to the
          Indenture), hereby appoints as its agent the Servicer, from time to
          time designated pursuant to Section 2.01 hereof, to enforce its
          respective rights and interests in and under the Contracts,
          Receivables and Related Security, Collections and proceeds with
          respect thereto. To the extent permitted by applicable law, each of
          the Issuer and CAI (to the extent not then acting as Servicer
          hereunder) hereby grants to any Servicer appointed hereunder all
          rights and powers of the Issuer and/or the Servicer, as the case may
          be, under the Contracts and with respect to the Related Security, and
          hereby grants an irrevocable power of attorney to take in the Issuer's
          and/or CAI's name and on behalf of the Issuer or CAI any and all steps
          necessary or desirable, in the reasonable determination of the
          Servicer, to collect all amounts due under any and all Receivables,
          including, without limitation, to cancel any policy of insurance, make
          demands for unearned premiums, commence enforcement proceedings,
          exercise other powers under a Contract, execute and deliver
          instruments of satisfaction or cancellation, or full or partial
          discharge, with respect to Receivables, endorse the Issuer's and/or
          CAI's name on checks and other instruments representing Collections
          and enforce such Receivables and the related Contracts. The Servicer
          shall, as soon as practicable following receipt thereof, turn over to
          CAI any collections of any Indebtedness of any Person which is not on
          account of a Receivable. The Servicer shall not make the Trustee, any
          Enhancement Provider, any Noteholder or any of their respective agents
          a party to any litigation without the prior written consent of such
          Person. Without limiting the generality of the foregoing and subject
          to Section 2.04, the Servicer is hereby authorized and empowered
          unless such power and authority is revoked by the Trustee on account
          of a Servicer Default (A) to make deposits or withdrawals from the
          Collection Account as set forth in this Agreement, the Indenture and
          any Series Supplement, (B) to instruct the Trustee to make deposits or
          withdrawals and payments from the Finance Charge Account, the
          Principal Account and any Series Account, in accordance with such
          instructions as set forth in the Indenture or any applicable Series
          Supplement, (C) to instruct or notify Trustee in writing, as set forth
          in this Agreement, the Indenture and any Series Supplement, (D) to
          make all calculations, allocations and determinations required of the
          Servicer under the Indenture, any Series Supplement and as required
          herein or to establish Series Accounts, (E) to execute and deliver, on
          behalf of the Issuer for the benefit of the Noteholders, any and all
          instruments of satisfaction or cancellation, or of partial or full
          release or discharge, and all other comparable instruments, with
          respect to the Receivables and the other Contracts and Related
          Security and, after any delinquency in payment relating to any
          Receivable, to the extent permitted under and in compliance with
          applicable law and regulations, to commence enforcement proceedings
          with respect thereto (including cancellation

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          of the related insurance policy) and (F) to make any filings, reports,
          notices, applications, registrations with, and to seek any consents or
          authorizations from, the Securities and Exchange Commission and any
          state securities authority on behalf of the Issuer as may be necessary
          or advisable to comply with any federal or state securities or
          reporting requirements.

                    (ii)   Subject to the terms and conditions of this Section
               2.02(a)(ii), CAI shall maintain custody and possession of the
               Receivable Files on behalf of, and as bailee for, Trustee (for
               the benefit of the Noteholders and the other Secured Parties) (in
               such capacity, together with its successors and assigns, the
               "Custodian").

               (A)  Custodian agrees to maintain possession of the related
          Receivable Files at its offices where they are presently maintained,
          at the offices of the related subservicers or at such other offices of
          Custodian as shall from time to time be identified to Trustee by
          written notice. Custodian shall segregate such Receivable Files from
          other files maintained by Custodian and shall store such Receivable
          Files in fireproof safes upon conversion to microfilm, which shall
          occur as soon as practical after acquisition of the applicable
          Receivable by the Issuer and in no event later than six (6) months
          after such acquisition. Until such time as Trustee shall notify
          Originator in writing, Trustee hereby appoints CAI, and CAI hereby
          agrees to act, as Custodian hereunder. Custodian may temporarily
          deliver individual Receivable Files or any portion thereof to Servicer
          without notice as necessary to conduct collection and other servicing
          activities in accordance with its customary practices and procedures.

               (B)  As custodian and bailee, Custodian shall hold the Receivable
          Files (by itself and/or through subservicers) on behalf of Trustee
          (for the benefit of the Secured Parties and, by agreeing to act as
          Custodian, is deemed to have received notice of the security interests
          of the Secured Parties in the Collateral), maintain accurate records
          pertaining to each Receivable to enable it to comply with the terms
          and conditions of this Agreement, maintain a current inventory thereof
          and conduct periodic physical inspections of Receivable Files held by
          it under this Agreement and attend to all other details in connection
          with maintaining custody of the Receivable Files.

               (C)  In performing its duties under this Section 2.02(a)(ii),
          Custodian agrees to act with reasonable care, using that degree of
          skill and care that it exercises with respect to similar contracts
          owned and/or serviced by it. Custodian shall promptly report to
          Trustee any material failure by it to hold the Receivable Files as
          herein provided and shall promptly take appropriate action to remedy
          such failure. In acting as custodian of the Receivable Files,
          Custodian agrees further not to assert, and shall cause each related
          subservicer not to assert any beneficial ownership interests in the
          Receivables. Custodian agrees to indemnify Trustee, the Secured
          Parties and Issuer, and their respective officers, directors,
          employees, partners and agents for any and all liabilities,
          obligations, losses, damages, payments, costs, or expenses of any kind
          whatsoever which may be

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          imposed on or incurred by any such Person arising from the gross
          negligence or willful misconduct of Custodian in maintaining custody
          of the Receivable Files pursuant to this Section 2.02(a)(ii);
          provided, however, that Custodian will not be liable to the extent
          that any such amount resulted from the negligence or willful
          misconduct of such Person.

               (D)  The appointment of Custodian shall terminate at the sole
          discretion of Trustee or at the direction of the Trustee acting at the
          direction of the Required Noteholders upon the replacement of
          Custodian by a successor Custodian selected by Trustee. Promptly
          following the appointment of a successor Custodian, and in any event
          within five days of such appointment, Custodian shall (at Custodian's
          sole cost and expense if a Servicer Default shall have occurred or if
          the Custodian shall have been removed for cause) deliver all of the
          Receivable Files in its possession, and all records maintained by it
          with respect thereto, to such successor Custodian.

               (b)  (i) Servicer shall service and administer the Receivables
          on behalf of Issuer and Trustee (for the benefit of the Secured
          Parties) and shall have full power and authority, acting alone and/or
          through subservicers as provided in Section 2.02(b)(iii), to do any
          and all things which it may deem reasonably necessary or desirable in
          connection with such servicing and administration and which are
          consistent with this Agreement. Consistent with the terms of this
          Agreement, Servicer may waive, modify or vary any term of any
          Receivable or consent to the postponement of strict compliance with
          any such term or in any manner, grant indulgence to any Obligor if, in
          Servicer's reasonable determination, such waiver, modification,
          postponement or indulgence is not materially adverse to the interests
          of Issuer or Trustee (for the benefit of the Secured Parties);
          provided, however, that Servicer may not permit any modification with
          respect to any Receivable that would change its interest rate, defer
          the payment of any principal or interest, reduce the Outstanding
          Principal Balance (except for actual payments of principal), or extend
          the final maturity date on such Receivable except in accordance with
          the Credit and Collection Policy. Without limiting the generality of
          the foregoing, Servicer in its own name or in the name of Issuer is
          hereby authorized and empowered by Issuer when Servicer believes it
          appropriate in its best judgment to execute and deliver, on behalf of
          Issuer, any and all instruments of satisfaction or cancellation, or of
          partial or full release or discharge and all other comparable
          instruments, with respect to the Receivable.

                    (ii)   Servicer shall service and administer the Receivables
               by employing such procedures (including collection procedures)
               and degree of care, in each case consistent with prudent industry
               standards, as are customarily employed by Servicer in servicing
               and administering contracts and notes owned or serviced by
               Servicer comparable to the Receivables. Servicer shall not take
               any action to impair Trustee's (for the benefit of the Secured
               Parties) security interest in any Receivable, except to the
               extent allowed pursuant to this Agreement or required by law.

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                    (iii)  Servicer may perform any of its duties pursuant to
               this Agreement, including those delegated to it pursuant to this
               Agreement, through subservicers appointed by Servicer. Such
               subservicers may include Affiliates of Servicer. Notwithstanding
               any such delegation of a duty, Servicer shall remain obligated
               and liable for the performance of such duty as if Servicer were
               performing such duty.

                    (iv)   Servicer may take such actions as are necessary to
               discharge its duties as Servicer in accordance with this
               Agreement, including the power to execute and deliver on behalf
               of Issuer such instruments and documents as may be customary,
               necessary or desirable in connection with the performance of
               Servicer's duties under this Agreement (including consents,
               waivers and discharges relating to the Receivable).

                    (v)    Servicer shall keep separate records covering the
               transactions contemplated by this Agreement including the
               identity and collection status of each Receivable purchased by
               Issuer from the Originator.

               (c)  Collections. (i) On or prior to the Initial Closing Date,
          Issuer and Servicer shall have established and shall maintain
          thereafter the following system of collecting and processing
          Collections of Receivables. The Obligors may make payments of
          Receivables only (A) by check mailed to the Post Office Box (such
          payments, upon receipt in such Post Office Box being referred to
          herein as "Mail Payments"), (B) by cash, credit card or check
          delivered in person or by phone at retail stores or other business
          locations of Originator (such payments, upon receipt by such stores,
          being referred to herein as "In-Store Payments") or (C) by cash,
          credit card or check delivered in person or by phone at a service
          center of CAI or, in the case of certain delinquent accounts, to
          employees of CAI operating out of a service center of CAI (such
          payments, upon receipt by the service center, being referred to herein
          as "Field Collections").

                    (ii)   Servicer's right of access to the Post Office Box
               shall be revocable at the option of Trustee (acting in its own
               discretion or at the direction of the Required Noteholders) upon
               the occurrence of any Potential Pay Out Event, Pay Out Event or
               Servicer Default. In addition, after the occurrence of any
               Potential Pay Out Event, any Pay Out Event or any Servicer
               Default, Servicer agrees that it shall, upon the written request
               of Trustee, notify all Obligors under Receivables to make payment
               thereof to (i) one or more bank accounts and/or post-office boxes
               designated by Trustee and specified in such notice or (ii) any
               successor Servicer appointed hereunder. The Trustee may, and
               shall at the request of the Required Noteholders, if any
               Potential Pay Out Event or Pay Out Event has occurred, require
               the Servicer to establish a lockbox account pursuant to a lockbox
               agreement acceptable to the Notice Persons, and to direct all
               Obligors under Receivables to make payments to such lockbox
               account.

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                    (iii)  Servicer shall remove or cause all Mail Payments to
               be removed from the Post Office Box by the close of business on
               each Business Day. Servicer shall process all such Mail Payments
               and all Field Collections on the date received by recording the
               amount of the payment received from the Obligor and the
               applicable account number. Subject to Section 5.4(a) of the
               Indenture, no later than the close of business on the second
               Business Day following the date on which Mail Payments are
               received in the Post Office Box or Field Collections are received
               by Servicer, Servicer shall deposit or cause such Mail Payments
               and such Field Collections to be deposited in the Collection
               Account in the same form in which such payments are received.
               Subject to Section 5.4(a) of the Indenture, Originator and
               Servicer shall cause all In-Store Payments to be (i) processed as
               soon as possible after such payments are received by Originator
               or Servicer but in no event later than the Business Day after
               such receipt, and (ii) deposited in the Collection Account no
               later than two Business Days following the date of such receipt.
               Subject to Section 5.4(a) of the Indenture, Servicer shall
               deposit all Recoveries into the Collection Account within two
               Business Days after the date of receipt of such Recoveries.

                    (iv)   So long as no Potential Pay Out Event, Pay Out Event
               or Servicer Default shall have occurred and be continuing,
               Servicer shall be permitted to transfer Available Cash on deposit
               in the Principal Account for the purchase of Receivables by
               Issuer pursuant to the Purchase Agreement or to repay the
               Originator Notes solely to the extent that the principal amount
               of such Originator Note was increased since the preceding Payment
               Date.

                    (v)    All Collections received by Originator or a Servicer
               in respect of Receivables will, pending remittance to the
               Collection Account as provided herein, be held by Originator or
               such Servicer in trust for the exclusive benefit of Trustee and
               shall not be commingled with any other funds or property of
               Originator or Servicer except as otherwise permitted in
               accordance with Section 5.4 of the Indenture. Only Collections
               received by Originator or Servicer shall be deposited in the
               Collection Account. Any funds held by Originator or Servicer
               representing Collections of Receivables released from the
               Principal Account as provided in Section 2.02(c)(iv) above shall
               be held in trust by Originator or CAI for the benefit of Trustee
               until such Collections are deposited into the Collection Account
               in accordance with Section 5.4 of the Indenture.

                    (vi)   Originator, Issuer and Servicer hereby irrevocably
               waive any right to set off against, or otherwise deduct from, any
               Collections.

                    (vii)  Issuer and Servicer hereby transfer, assign, pledge,
               set over and convey to Trustee all of their right, title and
               interest in and to the Collection Account and the other Trust
               Accounts.

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                    (viii) All payments or other amounts collected or received
               by Servicer in respect of a Receivable shall be applied to the
               Outstanding Principal Balance of such Receivable and allocated
               first to the amount of any outstanding Finance Charge Receivables
               due in respect thereof and then to the amount of any Principal
               Receivables due in respect thereof.

               (d)  If the Servicer is not the Issuer, CAI or an Affiliate of
          the Issuer or CAI, the Servicer, by giving three (3) Business Days'
          prior written notice to the Trustee, may revise the Servicing Fee;
          provided that such revised Servicing Fee shall be a reasonable fee
          agreed upon by the Servicer and the Notice Persons of each Series and
          the Trustee on an arm's-length basis reflecting rates and terms
          prevailing at such time.

               (e)  (i) On or before 120 days after the end of each calendar
          year and on or before 90 days after the end of each July 31, the
          Servicer shall cause a firm of nationally recognized independent
          public accountants (who may also render other services to the
          Servicer, the Issuer or any Affiliates of the foregoing) to furnish to
          the Issuer and the Trustee and the Enhancement Providers, (a) a report
          in a format similar to Exhibit D attached hereto, to the effect that
          they have (1) reviewed the Servicer's internal accounting control
          procedures and processing functions relating to the Servicer's credit
          policies and origination, collections, aging and charge-off functions,
          (2) performed testing of a statistically significant sample of
          Receivables and one Monthly Servicer Report (such Monthly Servicer
          Report to be in a format similar to Exhibit A-1 attached hereto), and
          describing the results of such review and testing, and (3) during such
          review and testing, not discovered any deviations (other than those
          described in the report) from the Credit and Collection Policy, and
          (b) a report in a format similar to Exhibit D attached hereto to the
          effect that they have applied certain procedures set forth in such
          Exhibit agreed upon with the Servicer and the Notice Persons and
          examined certain documents and records relating to the servicing of
          Receivables under this Agreement, and that, based upon such agreed
          upon procedures, nothing has come to the attention of such accountants
          that caused them to believe such servicing (including without
          limitation, the allocation of Collections) has not been conducted in
          compliance with the terms and conditions set forth in Article V of the
          Indenture and Article V of each Series Supplement and/or the
          appropriate subsections thereof (with respect to specific procedures
          performed), except for such exceptions as they believe to be
          immaterial and such other exceptions as shall be set forth in such
          statement. In addition, each report shall set forth the agreed upon
          procedures performed.

                    (ii)   The Servicer will deliver to the Trustee and the
               Enhancement Providers on or before March 31 of each calendar
               year, beginning with March 31, 2003, a certificate in
               substantially the form of Exhibit B of an authorized officer of
               the Servicer stating that (a) a review of the activities of the
               Servicer during the preceding calendar year (or portion thereof,
               as applicable) and of its performance under this Agreement was
               made under the supervision of the officer signing such

                                       10

<PAGE>

               certificate and (b) to the best of such officer's knowledge,
               based on such review, the Servicer has fully performed in all
               material respects all of its obligations under this Agreement and
               each other applicable Transaction Document to which it is a party
               throughout such period, or, if there has been a default in the
               performance of any such obligation, specifying such default known
               to such officer and the nature and status thereof.

               (f)  Notwithstanding anything to the contrary contained in this
          Article II, the Servicer, if not the Issuer, CAI or any Affiliate of
          the Issuer or CAI, shall have no obligation to collect, enforce or
          take any other action described in this Article II with respect to any
          Indebtedness that is not included in the Trust Estate other than to
          deliver to the Issuer the collections and documents with respect to
          any such Indebtedness as described in Section 2.02(a) hereof.

          Section 2.03  Rights After Designation of New Servicer. At any time
following the designation of a new Servicer (other than CAI) pursuant to Section
2.01 hereof:

                    (i)    The Trustee may, at its option, or shall, at the
               direction of the Required Noteholders, direct that payment of all
               amounts payable under any Receivable be made directly to the
               Trustee or its designee.

                    (ii)   The Issuer shall, at the Trustee's request and at the
               Issuer's expense, give notice (to the extent such notice has not
               otherwise already been provided) of the Trustee's interest in
               Receivables to each Obligor and direct that payments be made
               directly to the Trustee or its designee.

                    (iii)  The Issuer shall, at the Trustee's request, (A)
               assemble all of the records relating to the Receivables and other
               Related Security, and shall make the same available to the
               Trustee or its designee at a place selected by the Trustee or its
               designee, and (B) segregate all cash, checks and other
               instruments received by it from time to time constituting
               Collections of Receivables in a manner acceptable to the Trustee
               and shall, promptly upon receipt, remit all such cash, checks and
               instruments, duly endorsed or with duly executed instruments of
               transfer, to the Trustee or its designee.

                    (iv)   The Issuer hereby authorizes the Trustee to take any
               and all steps in the Issuer's name and on behalf of the Issuer
               necessary or desirable, in the reasonable determination of the
               Trustee, to collect all amounts due under any and all
               Receivables, including, without limitation, endorsing the
               Issuer's name on checks and other instruments representing
               Collections and enforcing such Receivables and the related
               Contracts.

          Section 2.04  Servicer Default. The occurrence of any one or more of
the following events shall constitute a Servicer default (each, a "Servicer
Default"):

               (a)  failure by the Servicer (or, for so long as CAI is the
          Servicer, CAI) to make any payment, transfer or deposit under this
          Agreement or any other

                                       11

<PAGE>

          Transaction Document or to give instructions or to give notice to the
          Trustee to make such payment, transfer or deposit or any withdrawal or
          to give notice to the Trustee as to any required drawing or payment
          under any applicable form of Enhancement or the Servicer Letter of
          Credit on or before the date occurring two Business Days after the
          date such payment, transfer or deposit or such instruction or notice
          is required to be made or given, as the case may be, under the terms
          of this Agreement or any other Transaction Document (or in the case of
          a payment, transfer, deposit or instruction to be made or given with
          respect to any Interest Period, by the related Payment Date);

               (b)  failure on the part of the Servicer (or, for so long as the
          Servicer is CAI, CAI) duly to observe or perform any other covenants
          or agreements of the Servicer set forth in this Agreement or any other
          Transaction Document, which failure continues unremedied for a period
          of 30 days after the earlier of discovery by the Servicer or the date
          on which written notice of such failure, requiring the same to be
          remedied, shall have been given to the Servicer by the Trustee, the
          Issuer or any Notice Person; or the Servicer shall assign its duties
          under this Agreement, except as permitted by Article II;

               (c)  any representation, warranty or certification made by the
          Servicer in this Agreement or any other Transaction Document or in any
          certificate delivered pursuant to this Agreement or any other
          Transaction Document shall prove to have been incorrect when made
          which continues unremedied for a period of 30 days after the date on
          which the Servicer has knowledge thereof or on which written notice
          thereof, requiring the same to be remedied, shall have been given to
          the Servicer by the Trustee, the Issuer or any Notice Person;

               (d)  the Servicer shall become the subject of any Event of
          Bankruptcy or shall voluntarily suspend payment of its obligations;

               (e)  for so long as CAI is the Servicer, the failure of Conn to
          maintain a Consolidated Net Worth of at least $30,000,000.

               (f)  at any time that CAI is the Servicer, any event of default
          (which has not been waived or cured within ten (10) Business Days)
          under (A) the Retailer Credit Agreement, (B) any inventory financing
          agreement between any lender and the Servicer, the Parent or any
          Originator, or (C) any indenture, credit or loan agreement or other
          agreement or instrument of any kind pursuant to which Debt of the
          Servicer, the Parent or Originator in an aggregate principal amount in
          excess of $1,000,000 is outstanding or by which the same is evidenced,
          shall have occurred and be continuing;

               (g)  the Parent shall cancel the Dealer Agreement dated as of
          January 1, 1998, between the Parent and the Voyager Service Programs,
          Inc., and the Originator and the Parent shall not have arranged for an
          alternate service policy insurance arrangement acceptable to the
          Notice Persons;

                                       12

<PAGE>

               (h)  at any time that CAI is Servicer, a final judgment or
          judgments for the payment of money in excess of $250,000 in the
          aggregate shall have been rendered against the Issuer, the Servicer,
          any Originator or Parent and the same shall have remained unsatisfied
          and in effect, without stay of execution, for a period of 30
          consecutive days after the period for appellate review shall have
          elapsed; or

               (i)  a Change in Control shall have occurred and be continuing.

          Section 2.05  Servicer Indemnification of Indemnified Parties. The
Servicer shall indemnify and hold harmless the Trustee, the Enhancement
Providers, the Noteholders (together with their respective successors and
permitted assigns) and each of their respective agents, officers, members and
employees (collectively, the "Indemnified Parties"), from and against any loss,
liability, expense, damage or injury suffered or sustained solely by reason of
any breach by the Servicer of any of its representations, warranties or
covenants contained in this Agreement or any failure by the Servicer to perform
any duty or obligation of the Servicer contained in this Agreement or any other
Transaction Document, including any judgment, award, settlement, reasonable
attorneys' fees and other costs or expenses reasonably incurred in connection
with the defense of any actual action, proceeding or claim; provided, however,
that the Servicer shall not indemnify the Indemnified Parties if such acts or
omissions were attributable directly or indirectly to gross negligence or
willful misconduct by such Indemnified Party. Any indemnification pursuant to
this Section shall be had only from the assets of the Servicer and shall not be
payable from Collections, except to the extent such Collections are released to
the Servicer in accordance with Section 5.11 (or any related provision
describing the allocation of Collections) of the Indenture and each Series
Supplement in respect of the Servicing Fee. The provisions of such indemnity
shall run directly to and be enforceable by such Indemnified Parties.

          Section 2.06  Grant of License. For the purpose of enabling the
Back-Up Servicer or any other successor Servicer to perform the functions of
servicing and collecting the Receivables upon a Servicer Default, the Servicer
hereby (i) assigns, to the extent permitted, to the Trustee for the benefit of
the Secured Parties and shall be deemed to assign to the Trustee for the benefit
of the Secured Parties, the Back-Up Servicer or any other successor Servicer all
rights owned or hereinafter acquired by the Servicer (by license, sublicense,
lease, easement or otherwise) in and to any equipment used for servicing (or
reasonable access thereto) together with a copy of any software used in
connection with the performance of its duties as Servicer and relating to the
Servicing and collecting of Receivables, (ii) agrees to use all reasonable
efforts to assist the Trustee for the benefit of the Secured Parties, the
Back-Up Servicer or any other successor Servicer to arrange licensing agreements
with all software vendors and other applicable persons in a manner and to the
extent reasonably appropriate to effectuate the servicing of the Receivables,
(iii) agrees to deliver to the Trustee executed copies of any landlord waivers
in a form reasonably acceptable to the Notice Persons that may be necessary to
grant to the Trustee, the Back-Up Servicer or any other successor Servicer
access to any leased premises of the Servicer for which the Trustee, the Back-Up
Servicer or any other successor Servicer may require access to perform the
collection and administrative functions to be performed by the Trustee under the
Transaction Documents and (iv) agrees that it will terminate its activities as
Servicer hereunder in a manner which the Trustee reasonably believes will
facilitate the

                                       13

<PAGE>

transition of the performance of such activities to the Back-Up Servicer or any
other designated successor Servicer, as applicable, and shall use commercially
reasonable efforts to assist the Trustee in such transition.

          Section 2.07  Servicing Compensation. As compensation for its
servicing activities hereunder and reimbursement for its expenses as set forth
in the immediately following paragraph, the Servicer shall be entitled to
receive a servicing fee (the "Servicing Fee") prior to the Indenture Termination
Date as described in Section 12.1 of the Indenture. The Servicing Fee shall be
payable, with respect to each Series, at the times and in the amounts set forth
in the related Series Supplement. The Servicing Fee shall be allocated between
the Notes (the "Investor Servicing Fee"), the Issuer (the "Issuer Servicing
Fee") and any Enhancement Provider and holder of a Collateral Interest, if
applicable and so provided in a related Series Supplement.

          The Servicer's expenses include the fees and disbursements of
independent public accountants and all other expenses incurred by the Servicer
in connection with its activities hereunder; provided, that the Servicer in its
capacity as such shall not be liable for any liabilities, costs or expenses of
the Issuer, the Noteholders or the Note Owners arising under any tax law,
including without limitation any federal, state or local income or franchise
taxes or any other tax imposed on or measured by income or gross receipts (or
any interest or penalties with respect thereto or arising from a failure to
comply therewith) except to the extent that such liabilities, taxes or expenses
arose as a result of the breach by the Servicer of its obligations under Section
6.02 hereof. In such case, the Servicer shall be required to pay such expenses
for its own account and shall not be entitled to any payment therefor other than
the Servicing Fee.

          Section 2.08  Representations and Warranties of the Servicer. The
Servicer hereby represents, warrants and covenants to and for the benefit of the
Issuer, the Trustee and the Noteholders as of the date of this Agreement and as
of each Closing Date:

               (a)  Organization and Good Standing, etc. Servicer has been duly
          organized and is validly existing and in good standing under the laws
          of its state of organization, with power and authority to own its
          properties and to conduct its business as such properties are
          presently owned and such business are presently conducted. Servicer is
          duly licensed or qualified to do business as a foreign entity in good
          standing in the jurisdiction where its principal place of business and
          chief executive office are located and in each other jurisdiction in
          which the failure to be so licensed or qualified would be reasonably
          likely to have a Material Adverse Effect.

               (b)  Power and Authority; Due Authorization. Servicer has (i) all
          necessary power, authority and legal right to execute, deliver and
          perform its obligations under this Agreement and each of the other
          Transaction Documents to which it is a party, and (ii) duly
          authorized, by all necessary action, the execution, delivery and
          performance of this Agreement and the other Transaction Documents to
          which it is a party. Servicer had at all relevant times, and now has,
          all necessary power, authority and legal right to perform its duties
          as Servicer.

                                       14

<PAGE>

               (c)  No Violation. The consummation of the transactions
          contemplated by this Agreement and the other Transaction Documents and
          the fulfillment of the terms hereof will not (i) conflict with, result
          in any breach of any of the terms and provisions of, or constitute
          (with or without notice or lapse of time or both) a default under, (A)
          the organizational documents of Servicer, or (B) any indenture, loan
          agreement, pooling and servicing agreement, receivables purchase
          agreement, mortgage, deed of trust, or other agreement or instrument
          to which Servicer is a party or by which any of them or any of their
          respective properties is bound, (ii) result in or require the creation
          or imposition of any Adverse Claim upon any of its properties pursuant
          to the terms of any such indenture, loan agreement, pooling and
          servicing agreement, receivables purchase agreement, mortgage, deed of
          trust, or other agreement or instrument, other than pursuant to the
          terms of the Transaction Documents, or (iii) violate any law or any
          order, rule, or regulation applicable to Servicer or of any court or
          of any federal, state or foreign regulatory body, administrative
          agency, or other governmental instrumentality having jurisdiction over
          Servicer or any of its properties.

               (d)  Validity and Binding Nature. This Agreement is, and the
          other Transaction Documents to which it is a party when duly executed
          and delivered by Servicer and the other parties thereto will be, the
          legal, valid and binding obligation of Servicer enforceable in
          accordance with their respective terms, except as enforceability may
          be limited by applicable bankruptcy, insolvency, reorganization,
          moratorium or similar law affecting creditors' rights generally and by
          general principles of equity.

               (e)  Government Approvals. No authorization or approval or other
          action by, and no notice to or filing with, any governmental authority
          or regulatory body required for the due execution, delivery or
          performance by Servicer of any Transaction Document to which it is a
          party remains unobtained or unfiled, except for the filing of the UCC
          financing statements referred to in Section 3.11(iii) and Schedule I
          to the Indenture.

               (f)  Margin Regulations. Servicer is not engaged in the business
          of extending credit for the purpose of purchasing or carrying margin
          stock, and no proceeds of any Loans, directly or indirectly, will be
          used for a purpose that violates, or would be inconsistent with,
          Regulations T, U and X promulgated by the Federal Reserve Board from
          time to time.

               (g)  Offices. The principal place of business and chief executive
          office of Servicer is located at the address referred to in Section
          7.04 (or at such other locations, notified to Administrator in
          jurisdictions where all action required thereby has been taken and
          completed).

               (h)  Compliance with Applicable Laws. Servicer is in compliance
          with the requirements of all applicable laws, rules, regulations, and
          orders of all governmental authorities, a breach of any of which,
          individually or in the aggregate, would be reasonably likely to have a
          Material Adverse Effect.

                                       15

<PAGE>

               (i)  No Proceedings. Except as described in Schedule 2.08(i),

                    (i)    there is no order, judgment, decree, injunction,
               stipulation or consent order of or with any court or other
               government authority to which Servicer is subject, and there is
               no action, suit, arbitration, regulatory proceeding or
               investigation pending, or, to the knowledge of Servicer,
               threatened, before or by any court, regulatory body,
               administrative agency or other tribunal or governmental
               instrumentality, against Servicer that, individually or in the
               aggregate, is reasonably likely to have a Material Adverse
               Effect; and

                    (ii)   there is no action, suit, proceeding, arbitration,
               regulatory or governmental investigation, pending or, to the
               knowledge of Servicer, threatened, before or by any court,
               regulatory body, administrative agency, or other tribunal or
               governmental instrumentality (A) asserting the invalidity of this
               Agreement or any other Transaction Document, or (B) seeking to
               prevent the consummation of any of the other transactions
               contemplated by this Agreement or any other Transaction Document.

               (j)  Accuracy of Information. All information heretofore
          furnished by, or on behalf of, Servicer to the Trustee, any
          Enhancement Provider, any Notice Person or any Noteholder in
          connection with any Transaction Document, or any transaction
          contemplated thereby, is true and accurate in every material respect
          (without omission of any information necessary to prevent such
          information from being materially misleading).

               (k)  No Material Adverse Change. Since January 31, 2002, there
          has been no material adverse change in the collectibility of the
          Receivables or Servicers's (i) financial condition, business,
          operations or prospects or (ii) ability to perform its obligations
          under any Transaction Document.

          In the event that there is any breach of any of the representations,
warranties or covenants of the Servicer contained in Sections 2.11(a) and (e)
and 2.12(a) with respect to any Receivable, and such Receivable becomes a
Defaulted Receivable or the rights of the Secured Parties in, to or under such
Receivable or its proceeds are impaired or the proceeds of such Receivable are
not available to the Trustee for the benefit of the Secured Parties or the
Servicer has released any Merchandise securing a Receivable from the lien
created by such Receivable (except as specifically provided in the Transaction
Documents), then the Servicer shall be deemed to have received on such day a
collection of such Receivable in full, and the Servicer shall, on the
Distribution Date, deposit into the Collection Account, subject to Section
5.4(a) of the Indenture, an amount equal to the Outstanding Principal Balance of
such Receivable, together with accrued and unpaid interest thereon, and such
amount shall be allocated and applied by the Servicer as a Collection allocable
to the Receivables or Related Security in accordance with Section 5.11 (or the
applicable section relating to allocation of Collections) in each Series
Supplement. In the event that the Servicer has paid to or for the benefit of the
Noteholders or any other applicable Secured Party the full Outstanding Principal
Balance (plus accrued and unpaid interest) of any Receivable pursuant to this
paragraph, each of the Trustee for

                                       16

<PAGE>

the benefit of the Secured Parties and the Issuer shall release and convey all
of such Person's right, title and interest in and to the related Receivable to
the Servicer, without representation or warranty, but free and clear of all
liens created by such Person, as applicable.

          Section 2.09  Reports and Records for the Trustee. In addition to each
of the reports required to be prepared and delivered by the Servicer pursuant to
Section 2.02(e) hereof, the Servicer shall prepare and deliver in accordance
with this Section 2.09 each of the following reports and notices:

               (a)  Periodic Reports. The Servicer shall prepare and forward to
          the Issuer, the Trustee, each Holder of a variable funding note issued
          under the Indenture (i) not later than the Determination Date with
          respect to each calendar month, a Monthly Servicer Report in
          substantially the form set forth on Exhibit A-1 attached hereto as of
          the last Business Day of the immediately preceding calendar month, and
          (ii) as soon as reasonably practicable, from time to time, such other
          information as the Trustee or any Notice Person may reasonably
          request.

               (b)  Monthly Noteholders' Statement. Unless otherwise stated in
          the related Series Supplement with respect to any Series, on each
          Determination Date the Servicer shall forward to the Trustee a Monthly
          Noteholders' Statement in the form set forth on Exhibit A-2 attached
          hereto prepared by the Servicer.

               (c)  Issuer Reports. The Servicer shall prepare and deliver the
          reports and comply with all the provisions of Section 4.3 of the
          Indenture.

               (d)  Series Reports. The Servicer shall prepare and deliver any
          reports required to be prepared and delivered by the Servicer by the
          terms of any agreements of the Issuer or the Servicer relating to the
          issuance or purchase of any of the Notes.

          Section 2.10  Reports to the Commission. The Issuer and/or CAI, if the
Issuer and/or CAI or any Affiliate of either of them is not acting as Servicer,
shall, at the expense of the Issuer or CAI, as applicable, cooperate in any
reasonable request of the Trustee in connection with any filings required to be
filed by the Trustee under the provisions of the Securities Exchange Act of 1934
or pursuant to Section 4.3 of the Indenture.

          Section 2.11  Affirmative Covenants of the Servicer. At all times from
the date hereof to the date on which the outstanding principal balance of all
Notes and all amounts owing to the Enhancement Providers by the Issuer shall be
equal to zero, unless the Required Persons with respect to each such Series
shall otherwise consent in writing:

               (a)  Credit and Collection Policy. The Servicer will comply in
          all material respects with the Credit and Collection Policy in regard
          to each Receivable and the related Contract.

               (b)  Collections Received. Subject to Section 5.4(a) of the
          Indenture, the Servicer shall set aside and deposit as soon as
          reasonably practicable (but in

                                       17

<PAGE>

          any event no later than two (2) Business Days following its receipt
          thereof) into the Collection Account all Collections received from
          time to time by the Servicer.

               (c)  Notice of Defaults, Events of Default, Potential Pay Out
          Event or Servicer Defaults. Immediately, and in any event within one
          (1) Business Day after the Servicer obtains knowledge or receives
          notice of the occurrence of each Default, Event of Default, Potential
          Pay Out Event or Servicer Default, the Servicer will furnish to the
          Notice Persons of each Series a statement of a Responsible Officer of
          the Servicer, setting forth details of such Default, Event of Default
          or Servicer Default, and the action which the Servicer, the Issuer or
          a Seller proposes to take with respect thereto.

               (d)  Conduct of Business. The Servicer will do all things
          necessary to remain duly incorporated, validly existing and in good
          standing as a domestic limited partnership in its jurisdiction of
          organization and maintain all requisite authority to conduct its
          business in each jurisdiction in which its business is conducted to
          the extent that the failure to maintain such would have a Material
          Adverse Effect.

               (e)  Compliance with Laws. The Servicer will comply in all
          respects with all laws with respect to the Receivables to the extent
          that any non-compliance would have a Material Adverse Effect.

               (f)  Further Information. The Servicer shall furnish or cause to
          be furnished to the Trustee such other information relating to the
          Receivables and readily available public information regarding the
          financial condition of the Servicer, as soon as reasonably
          practicable, and in such form and detail, as the Trustee or any Notice
          Person may reasonably request.

               (g)  Furnishing of Information and Inspection of Records. The
          Servicer will furnish to the Trustee and any requesting Notice Person
          from time to time such information with respect to the Receivables as
          such Person may reasonably request, including, without limitation,
          listings identifying the Outstanding Principal Balance for each
          Receivable, together with an aging of Receivables. The Servicer will,
          at any time and from time to time during regular business hours and,
          upon reasonable notice, permit the Trustee, and each of the Notice
          Persons, or their respective agents or representatives, (i) to examine
          and make copies of and abstracts from all Records relating to the
          Receivables and (ii) to visit the offices and properties of the
          Servicer for the purpose of examining such Records, and to discuss
          matters relating to Receivables or the Servicer's performance
          hereunder and under the other Transaction Documents to which it is a
          party with any of the officers or branch managers of the Servicer,
          having knowledge of such matters. Upon a Default or Event of Default,
          the Trustee and each of the Notice Persons may have, without notice,
          reasonable access to all records and the offices and properties of the
          Servicer.

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<PAGE>

          Section 2.12  Negative Covenants of the Servicer. At all times from
the date hereof to the date on which the outstanding principal balance of all
Notes and all amounts owing to the Enhancement Providers by the Issuer shall be
equal to zero, unless the Required Persons with respect to each such Series
shall otherwise consent in writing:

               (a)  Modifications of Receivables or Contracts. The Servicer
          shall not extend, amend, forgive, discharge, compromise, waive, cancel
          or otherwise modify the terms of any Receivable or amend, modify or
          waive any term or condition of any Contract related thereto; except in
          accordance with Section 2.02(b).

               (b)  Merger or Consolidation of, or Assumption of the Obligations
          of, the Servicer. The Servicer shall not consolidate with or merge
          into any other corporation or convey or transfer its properties and
          assets substantially as an entirety to any Person, unless:

                    (i)    the entity formed by such consolidation or into which
               the Servicer is merged or the Person which acquires by conveyance
               or transfer the properties and assets of the Servicer
               substantially as an entirety shall be an entity organized and
               existing under the laws of the United States of America or any
               State or the District of Columbia and, if the Servicer is not the
               surviving entity, such corporation shall expressly assume, by an
               agreement supplemental hereto executed and delivered to the
               Trustee, the Notice Persons of each Series and the Servicer
               Letter of Credit Bank in a form reasonably satisfactory to the
               Notice Persons of each Series, the performance of every covenant
               and obligation of the Servicer under the Transaction Documents;
               and

                    (ii)   the Servicer has delivered to the Trustee, each
               Notice Person and the Servicer Letter of Credit Bank (if
               requested by such Person) an Opinion of Counsel stating that such
               consolidation, merger, conveyance or transfer comply with this
               paragraph (b) and that all conditions precedent herein provided
               for relating to such transaction have been complied with (and if
               an agreement supplemental hereto has been executed as
               contemplated by clause (i) above, such opinion of counsel shall
               state that such supplemental agreement is a legal, valid and
               standing obligation of the Servicer enforceable against the
               Servicer in accordance with its terms, subject to bankruptcy,
               insolvency, reorganization, moratorium and similar laws of
               general applicability relating to or affecting creditors' rights
               and to general equity principles).

               (c)  No Change in Business or the Credit and Collection Policy.
          Subject to Requirements of Law, the Servicer will not make any change
          in the character of its business or in the Credit and Collection
          Policy, which change would, in either case, impair the collectibility
          of any Receivable or otherwise have a Material Adverse Effect. The
          Servicer agrees that prior to making any material change in the Credit
          and Collection Policy in effect on each Closing Date, it shall

                                       19

<PAGE>

          obtain the prior written consent of the Notice Persons of each Series
          of such changes; provided, however, that in the case of any material
          change in its Credit and Collection Policy made pursuant to any
          Requirement of Law as to which it is unable to give ten (10) Business
          Days' prior written notice, then the Servicer shall give written
          notice to the Trustee, each Notice Person and the Issuer of such
          changes as soon as reasonably practicable prior to the implementation
          of such changes.

                                   ARTICLE III

                      RIGHTS OF NOTEHOLDERS AND ALLOCATION
                         AND APPLICATION OF COLLECTIONS

          Section 3.01  Establishment of Accounts.

               (a)  The Collection Account. The Servicer, for the benefit of the
          Secured Parties, shall establish and maintain the Collection Account
          in the state of New York or in the city in which the Corporate Trust
          Office is located, with a Qualified Institution in the name of the
          Trustee, on behalf of the Secured Parties, a non-interest bearing
          segregated account bearing a designation clearly indicating that the
          funds deposited therein are held in trust for the benefit of the
          Secured Parties. Pursuant to authority granted to it pursuant to
          subsection 2.02(a), the Servicer shall have the revocable power to
          withdraw funds from the Collection Account for the purposes of
          carrying out its duties hereunder and under the Indenture and any
          Series Supplement.

               (b)  Series Accounts. If so provided in the related Series
          Supplement, the Servicer shall cause to be established and maintained
          in the name of the Trustee for the benefit of the Noteholders and the
          other Secured Parties of the related Series, one or more Series
          Accounts. Each such Series Account shall bear a designation clearly
          indicating that the funds deposited therein are held for the benefit
          of the Noteholders and the other Secured Parties of such Series, to
          the extent applicable. Each such Series Account will be a trust
          account, if so provided in the related Series Supplement, and will
          have the other features and be applied as set forth in the related
          Series Supplement.

          Section 3.02  Collections and Allocations.

               (a)  Collections. Subject to subsection 5.4(a) of the Indenture,
          the Servicer shall deposit all Collections in the Collection Account
          as promptly as possible after the date of receipt of such Collections,
          but in no event later than the second Business Day following such date
          of receipt.

          The Servicer shall allocate such amounts to each Series and to the
Issuer in accordance with this Article III and Article 5 of the Indenture and
shall withdraw the required amounts from the Collection Account or pay such
amounts to the Noteholders, the Enhancement Providers, the Issuer or otherwise
in accordance with this Article III and Article 5 of the

                                       20

<PAGE>

Indenture, in both cases as modified by any Series Supplement. The Servicer
shall make such deposits or payments on the date indicated therein by wire
transfer or as otherwise provided in the Series Supplement for any Series of
Notes with respect to such Series.

               (b)  Allocation of Collections Between Finance Charges and
          Principal Receivables. At all times and for all purposes of this
          Agreement, the Indenture and any Series Supplement, the Servicer shall
          allocate Collections received in respect of any Receivables for any
          Monthly Period to Finance Charges and to Principal Receivables
          pursuant to any method of allocation that is in accordance with GAAP
          and that is consistent with the Servicer's past practice (or is
          consented to by the Required Persons of each Series).

               (c)  Adjustments to Issuer Interest. The Servicer shall be
          obligated on or prior to each Determination Date to deduct on a net
          basis for each Monthly Period from the aggregate amount of Principal
          Receivables used to calculate the Issuer Interest as provided in this
          subsection 3.02(c) (and to the extent applicable, Section 5.4(d) of
          the Indenture) (a "Credit Adjustment") the portion of each Principal
          Receivable which is reduced by the Servicer by any rebate, refund,
          charge-back or adjustment (including due to any Servicer errors) made
          in accordance with the Credit and Collection Policy.

               (d)  Deemed Collections. If on any day, (i) any of the
          representations or warranties set forth in Section 5.1(h)(i) and
          Section 3(o)(i) of the Series 2002-A Note Purchase Agreement and the
          Series 2002-B Note Purchase Agreement, respectively (and any
          corresponding provisions of any other applicable Note Purchase
          Agreement), is untrue or incorrect with respect to a Receivable as of
          the date such representation or warranty was made and such breach
          continues unremedied for 30 days from the earlier to occur of the
          discovery of such breach or condition by the Issuer or the Servicer,
          or receipt by the Issuer of written notice of such breach or condition
          given by the Trustee, any Notice Person, the Servicer or any Seller,
          (ii) any of the representations or warranties set forth in Section
          5.1(n) and Section 3(v) of the Series 2002-A Note Purchase Agreement
          and the Series 2002-B Note Purchase Agreement, respectively (and any
          corresponding provisions of any other applicable Note Purchase
          Agreement), is untrue or incorrect with respect to a Receivable as of
          the date such representation or warranty was made or (iii) the
          Servicer adjusts downward the amount of any Receivables without either
          receiving Collections therefor or charging such amount off as
          uncollectible, and such condition continues unremedied for five
          Business Days from the earlier to occur of the discovery of such
          condition by the Issuer or the Servicer, or receipt by the Issuer of
          written notice of such condition given by the Trustee, any Notice
          Person, the Servicer or any Seller, then in any case above, the Issuer
          shall be deemed to have received on such day a Collection of such
          Receivable in full (or, in the case of clause (iii) above, in an
          amount equal to such adjustment or excess, as applicable), and the
          Issuer shall, on such day, to the extent that (1) the Coverage Test is
          not satisfied, (2) funds are not otherwise available therefor out of
          Collections on Receivables on such day and (3) such amounts have not
          otherwise already been paid by the Issuer pursuant to Article 5

                                       21

<PAGE>

          of the Indenture and Article 5 of each applicable Series Supplement,
          pay to the Servicer an amount equal to the Outstanding Principal
          Balance of such Receivable (or, in the case of clause (iii) above, in
          an amount equal to such adjustment or excess, as applicable), together
          with accrued and unpaid interest thereon, and such amount shall be
          allocated and applied by the Servicer as a Collection allocable to
          each Series in accordance with Article 5 of the Indenture and Article
          5 of each applicable Series Supplement.

                                   ARTICLE IV

                              OTHER SERVICER POWERS

          Section 4.01  Appointment of Paying Agent. Subject to Section 2.7 of
the Indenture, the Servicer may revoke the power of the Paying Agent to withdraw
funds from any account maintained for the benefit of the Secured Parties
pursuant to the Indenture and remove the Paying Agent, if the Servicer
determines in its reasonable discretion that the Paying Agent shall have failed
to perform its obligations under the Indenture and any Series Supplement in any
material respect or for other good cause. The Servicer shall notify each of the
Rating Agencies of the removal of any Paying Agent pursuant to the immediately
preceding sentence.

          Section 4.02  Meetings of Noteholders. To the extent provided by the
Series Supplement for any Series issued in whole or in part in Bearer Notes, the
Servicer may at any time call a meeting of the Noteholders of such Series, to be
held at such time and at such place as the Servicer shall determine, for the
purpose of approving a modification of or amendment to, or obtaining a waiver
of, any covenant or condition set forth in this Agreement with respect to such
Series, subject to Section 7.01 of this Agreement. For such purpose, the
provisions of Section 13.8 of the Indenture relating to the setting of a record
date for the purpose of establishing the Person in whose name any such Note is
held shall apply.

                                    ARTICLE V

                             OTHER MATTERS RELATING
                                 TO THE SERVICER

          Section 5.01  Liability of the Servicer. The Servicer hereby agrees to
perform any and all duties and obligations set forth in the Indenture or any
Series Supplement thereto that are specifically identified therein as duties of
the Servicer. Subject to the foregoing, the Servicer shall be liable in
accordance herewith only to the extent of the obligations specifically
undertaken by it in such capacity herein.

          Section 5.02  Limitation on Liability of the Servicer and Others. The
directors, officers, employees or agents who are natural persons of the Servicer
shall not be under any liability to the Issuer, the Trustee, the Noteholders,
any Enhancement Provider or any other Person hereunder or pursuant to any
document delivered hereunder for any action taken or for refraining from the
taking of any action, it being expressly understood that all such liability is
expressly waived and released as a condition of, and as consideration for, the
execution of this Agreement and any supplement hereto; provided, however, that
this provision shall not protect

                                       22

<PAGE>

the directors, officers, employees and agents of the Servicer against any
liability which would otherwise be imposed by reason of willful misfeasance, bad
faith or gross negligence in the performance of duties or by reason of reckless
disregard of obligations and duties hereunder. Except as provided in this
Section 5.02 with respect to the Issuer and the Trustee, its officers,
directors, employees and agents, the Servicer shall not be under any liability
to the Issuer, the Trustee, its officers, directors, employees and agents, the
Noteholders or any other Person for any action taken or for refraining from the
taking of any action in its capacity as Servicer pursuant to this Agreement or
any supplement hereto; provided, however, that this provision shall not protect
the Servicer against any liability which would otherwise be imposed by reason of
(x) willful misfeasance, bad faith or gross negligence in the performance of
duties or by reason of its reckless disregard of its obligations and duties
hereunder or under any Series Supplement or (y) breach of the express terms of
any Transaction Document. The Servicer may rely in good faith on any document of
any kind prima facie properly executed and submitted by any Person respecting
any matters arising hereunder. The Servicer shall not be under any obligation to
appear in, prosecute or defend any legal action which is not incidental to its
duties to service the Receivables or the other property in the Trust Estate in
accordance with this Agreement, the Indenture and any Series Supplement which in
its reasonable opinion may involve it in any expense or liability.

          Section 5.03  Servicer Not to Resign. The Servicer shall not resign
from the obligations and duties hereby imposed on it except upon determination
that (i) the performance of its duties hereunder is no longer permissible under
applicable law and (ii) there is no reasonable action which such Servicer could
take to make the performance of its duties hereunder permissible under
applicable law. Any such determination permitting the resignation of any
Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel and
as to clause (ii) by a Conn Officer's Certificate of the Servicer, each to such
effect delivered, and satisfactory in form and substance, to the Notice Persons.
No such resignation shall become effective until the Trustee or a successor
Servicer shall have assumed the responsibilities and obligations of such
Servicer in accordance with Section 2.01 hereof.

          Section 5.04  Waiver of Defaults. Any default by the Servicer in the
performance of its obligations hereunder and its consequences may be waived
pursuant to Section 7.01. Upon any such waiver of a default, such default shall
cease to exist, and any default arising therefrom shall be deemed to have been
remedied for every purpose of this Agreement. No such waiver shall extend to any
subsequent or other default or impair any right consequent thereon except to the
extent expressly so waived.

                                   ARTICLE VI

                          ADDITIONAL OBLIGATION OF THE
                      SERVICER WITH RESPECT TO THE TRUSTEE

          Section 6.01  Successor Trustee.

               (a)  If the Trustee resigns or is removed pursuant to the terms
          of the Indenture or if a vacancy exists in the office of the Trustee
          for any reason, the Servicer shall promptly appoint a successor
          Trustee meeting the requirements of

                                       23

<PAGE>

          Section 11.9 of the Indenture, by written instrument, in duplicate,
          one copy of which instrument shall be delivered to the resigning
          Trustee and one copy to the successor Trustee.

               (b)  The Servicer agrees to execute and deliver such instruments
          and do such other things as may reasonably be required for fully and
          certainly vesting and confirming in the successor Trustee all rights,
          powers, duties and obligations under the Indenture and hereunder.

          Section 6.02  Tax Returns. The Servicer shall prepare or shall cause
to be prepared all tax information required by law to be distributed to
Noteholders and shall deliver such information to the Trustee at least five days
prior to the date it is required by law to be distributed to Noteholders. Except
to the extent the Servicer breaches its obligations or covenants contained in
this Section 6.02, in no event shall the Servicer be liable for any liabilities,
costs or expenses of the Issuer, the Noteholders or the Note Owners arising
under any tax law, including without limitation federal, state, local or foreign
income or excise taxes or any other tax imposed on or measured by income or
gross receipts (or any interest or penalty with respect thereto or arising from
a failure to comply therewith).

          Section 6.03  Final Payment with Respect to Any Series. The Servicer
shall provide any notice of termination as specified for the Servicer in Section
12.5(a) of the Indenture and in accordance with the procedures set forth
therein.

                                   ARTICLE VII

                            MISCELLANEOUS PROVISIONS

          Section 7.01  Amendment.

               (a)  This Agreement may be amended in writing from time to time
          by the Issuer, the Servicer and the Trustee, without the consent of
          any of the Noteholders, to cure any ambiguity, to correct or
          supplement any provisions herein which may be inconsistent with any
          other provisions herein, to add any other provisions with respect to
          matters or questions arising under this Agreement which shall not be
          inconsistent with the provisions of this Agreement; provided, that
          such action shall not adversely affect in any material respect the
          interests of any Noteholder or any Enhancement Provider.

               (b)  Any provision of this Agreement may also be amended,
          supplemented, modified or waived in writing from time to time by the
          Issuer, the Servicer and the Trustee with the consent of the Required
          Persons of each outstanding Series for the purpose of adding any
          provisions to or changing in any manner or eliminating any of the
          provisions of this Agreement or modifying in any manner the rights of
          Noteholders of any Series then issued and outstanding; provided,
          however, that no such amendment shall (i) reduce in any manner the
          amount of, or delay the timing of, distributions which are required to
          be made on any Notes of such Series without the consent of each Holder
          of Notes of such

                                       24

<PAGE>

          Series so affected, (ii) change the definition of or the manner of
          calculating the Investor Interests, the Investor Percentage or the
          Aggregate Investor Default Amount of such Series without the consent
          of each Holder of Notes of such Series, (iii) reduce the aforesaid
          percentage required to consent to any such amendment, without the
          consent of each Holder of Notes of all Series adversely affected or
          (iv) result in a reduction or withdrawal of the then current ratings
          of any outstanding Notes of such Series by any Rating Agency. The
          Trustee may, but shall not be obligated to, enter into any such
          amendment which adversely affects the Trustee's rights, duties or
          immunities under this Agreement or otherwise, except as otherwise may
          be provided in the Indenture.

               (c)  Promptly after the execution of any such amendment, the
          Trustee shall furnish notification of the substance of such amendment
          to each Noteholder of each Series affected thereby, to any related
          Enhancement Provider and to each Rating Agency providing a rating for
          such Series.

               (d)  It shall not be necessary for the consent of Noteholders
          under this Section 7.01 to approve the particular form of any proposed
          amendment, but it shall be sufficient if such consent shall approve
          the substance thereof. The manner of obtaining such consents and of
          evidencing the authorization of the execution thereof by Noteholders
          shall be subject to such reasonable requirements as the Trustee may
          prescribe.

               (e)  In connection with any amendment, the Trustee may request an
          Opinion of Counsel (from an external law firm) from the Servicer to
          the effect that the amendment complies with all requirements of this
          Agreement, except that such counsel shall not be required to opine on
          factual matters.

          Section 7.02  Protection of Right, Title and Interest to Receivables
and Related Security.

               (a)  The Servicer shall cause this Agreement, the Indenture and
          any Series Supplement, all amendments hereto and/or all financing
          statements and continuation statements and any other necessary
          documents covering the Noteholders and the Trustee's right, title and
          interest to the Trust Estate to be promptly recorded, registered and
          filed, and at all times to be kept recorded, registered and filed, all
          in such manner and in such places as may be required by law fully to
          preserve and protect the Trustee's Lien (granted pursuant to the
          Indenture for the benefit of the Secured Parties) on the property
          comprising the Trust Estate. The Servicer shall deliver to the Trustee
          file-stamped copies of, or filing receipts for, any document recorded,
          registered or filed as provided above, as soon as available following
          such recording, registration or filing. The Seller shall cooperate
          fully with the Servicer in connection with the obligations set forth
          above and will execute any and all documents reasonably required to
          fulfill the intent of this subsection 7.02(a).

                                       25

<PAGE>

               (b)  The Servicer will give the Trustee prompt written notice of
          any relocation of any office from which it services the Receivables
          and Related Security or keeps records concerning such items or of its
          principal executive office and whether, as a result of such
          relocation, the applicable provisions of the UCC would require the
          filing of any amendment of any previously filed financing or
          continuation statement or of any new financing statement and shall
          file such financing statements or amendments as may be necessary to
          continue the Trustee's security interest in the Trust Estate and the
          proceeds thereof for the benefit of the Secured Parties. The Servicer
          will at all times maintain each office from which it services the
          Receivables, Related Security and other property in its possession and
          part of the Trust Estate and its principal executive office within the
          United States of America.

          Section 7.03  Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. EACH OF THE PARTIES
TO THIS SERVICING AGREEMENT HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF
THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY
APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENT THEREOF. EACH OF THE
PARTIES HEREBY WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY
OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE
AFOREMENTIONED COURTS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE
RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT.

          Section 7.04  Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given if
personally delivered at, sent by facsimile to, sent by courier at or mailed by
registered mail, return receipt requested, to (a) in the case of the Issuer, to
Conn Funding II, L.P., 3295 College Street, Beaumont, Texas 77701, Attention:
David Atnip, Telephone: 409-832-1696 ext. 3270, (b) in the case of the Servicer
to CAI, L.P., 3295 College Street, Beaumont, Texas 77701, Attention: David
Atnip, Telephone: 409-832-1696 ext. 3270, (c) in the case of the Trustee, to its
Corporate Trust Office, (d) in the case of the Enhancement Provider for a
particular Series, the address, if any, specified in the Series Supplement
relating to such Series and (e) in the case of the Rating Agency for a
particular Series, the address, if any, specified in the Series Supplement
relating to such Series; or, as to each party, at such other address as shall be
designated by such party in a written notice to each other party. Unless
otherwise provided with respect to any Series in the related Series Supplement,
any notice required or permitted to be mailed to a Noteholder shall be given as
required in the Indenture or any related Series Supplement.

          Section 7.05  Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall for any
reason whatsoever be held invalid, then such covenants, agreements, provisions
or terms shall be deemed severable from the

                                       26

<PAGE>

remaining covenants, agreements, provisions or terms of this Agreement and shall
in no way affect the validity or enforceability of the other provisions of this
Agreement.

          Section 7.06  Delegation. Except as provided in Section 2.01, 2.02 or
2.12(b), the Servicer may not delegate any of its obligations under this
Agreement.

          Section 7.07  Waiver of Trial by Jury. To the extent permitted by
applicable law, each of the parties hereto irrevocably waives all right of trial
by jury in any action, proceeding or counterclaim arising out of or in
connection with this Agreement or the Transaction Documents or any matter
arising hereunder or thereunder.

          Section 7.08  Further Assurances. The Servicer agrees to do and
perform, from time to time, any and all acts and to execute any and all further
instruments required or reasonably requested by the Trustee or any Notice Person
more fully to effect the purposes of this Agreement, including, without
limitation, the execution of any financing statements or continuation statements
relating to all or any portion of the Trust Estate for filing under the
provisions of the UCC of any applicable jurisdiction.

          Section 7.09  No Waiver; Cumulative Remedies. No failure to exercise
and no delay in exercising, on the part of the Trustee, any Notice Person, any
Enhancement Provider or the Noteholders, any right, remedy, power or privilege
hereunder, shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, power or
privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exhaustive of any rights, remedies, powers and privileges
provided by law.

          Section 7.10  Counterparts. This Agreement may be executed in two or
more counterparts (and by different parties on separate counterparts), each of
which shall be an original, but all of which together shall constitute one and
the same instrument.

          Section 7.11  Third-Party Beneficiaries. This Agreement will inure to
the benefit of and be binding upon the parties hereto, the Secured Parties and,
to the extent provided in any related Series Supplement, to the Enhancement
Provider named therein, and their respective successors and permitted assigns.

          Section 7.12  Actions by Noteholders.

               (a)  Wherever in this Agreement a provision is made that an
          action may be taken or a notice, demand or instruction given by
          Noteholders, such action, notice or instruction may be taken or given
          by any Noteholder, unless such provision requires a specific
          percentage of Noteholders or unless otherwise provided in a Series
          Supplement. Notwithstanding anything in this Agreement to the
          contrary, neither the Servicer nor any Affiliate thereof shall have
          any right to vote with respect to any Note except as specifically
          provided in the Indenture.

               (b)  Any request, demand, authorization, direction, notice,
          consent, waiver or other act by a Noteholder shall bind such
          Noteholder and every subsequent holder of such Note issued upon the
          registration of transfer thereof or

                                       27

<PAGE>

          in exchange therefor or in lieu thereof in respect of anything done or
          omitted to be done by the Trustee or the Servicer in reliance thereon,
          whether or not notation of such action is made upon such Note.

          Section 7.13  Rule 144A Information. For so long as any of the Notes
of any Series or any Class are "restricted securities" within the meaning of
Rule 144(a)(3) under the Securities Act, the Servicer, the Trustee and the
Enhancement Provider(s) for such Series agree to cooperate with each other to
provide to any Noteholders of such Series or Class and to any prospective
purchaser of Notes designated by such a Noteholder upon the request of such
Noteholder or prospective purchaser, any information required to be provided to
such holder or prospective purchaser to satisfy the condition set forth in Rule
144A(d)(4) under the Securities Act.

          Section 7.14  Merger and Integration. Except as specifically stated
otherwise herein, this Agreement sets forth the entire understanding of the
parties relating to the subject matter hereof, and all prior understandings,
written or oral, are superseded by this Agreement.

          Section 7.15  Headings. The headings herein are for purposes of
reference only and shall not otherwise affect the meaning or interpretation of
any provision hereof.

          Section 7.16  Rights of the Trustee. The rights, privileges and
immunities afforded to the Trustee in the Indenture shall apply to this
Agreement as if fully set forth herein.

                                       28

<PAGE>

          IN WITNESS WHEREOF, the Issuer, the Servicer and the Trustee have
caused this Servicing Agreement to be duly executed by their respective officers
as of the day and year first above written.

                                            CONN FUNDING II, L.P., as Issuer

                                            By:  Conn Funding II GP, L.L.C.,
                                                 its general partner

                                            By: /s/ David R. Atnip
                                               ---------------------------------
                                               Name:  David R. Atnip
                                               Title: Secretary/Treasurer

                                            CAI, L.P., as Servicer

                                            By:  Conn Appliances, Inc.,
                                                 its general partner

                                            By: /s/ Thomas J. Frank
                                               ---------------------------------
                                               Name:  Thomas J. Frank
                                               Title: CEO and Chairman of the
                                                      Board

                                            WELLS FARGO BANK MINNESOTA, NATIONAL
                                            ASSOCIATION, not in its individual
                                            capacity, but solely as Trustee

                                            By: /s/ Marianna C. Stershic
                                               ---------------------------------
                                               Name:  Marianna C. Stershic
                                               Title: Vice President

                                       S-1                   Servicing Agreement

<PAGE>

                                                                     Exhibit A-1
                                                 Form of Monthly Servicer Report

                         FORM OF MONTHLY SERVICER REPORT

                                     A-1-1                   Servicing Agreement

                     [Monthly Servicer Report Appears Here]

<PAGE>

                                                                     Exhibit A-2
                                          Form of Monthly Noteholders' Statement

                     FORM OF MONTHLY NOTEHOLDERS' STATEMENT

                                     A-2-1                   Servicing Agreement

                          [Series 2002-B Appears Here]

<PAGE>

                                                                       Exhibit B
                                           Form of Annual Servicer's Certificate

                      FORM OF ANNUAL SERVICER'S CERTIFICATE
                      -------------------------------------

                                      B-1                    Servicing Agreement

                     [Form of Annual Servicers Certificate]

<PAGE>

                                                                       Exhibit C
                                                                  Form of Credit
                                                           and Collection Policy

                      FORM OF CREDIT AND COLLECTION POLICY
                      ------------------------------------

                             [On File with Trustee]

                                      C-1                    Servicing Agreement

<PAGE>

                                                                       Exhibit D
                                                      Form of Accounting Control
                                                Procedures and Processing Report

                           FORM OF ACCOUNTING CONTROL
                        PROCEDURES AND PROCESSING REPORT
                        --------------------------------

                                      D-1                    Servicing Agreement

<PAGE>

                                                                       Exhibit E
                                               Form of Post Office Box Agreement

                        FORM OF POST OFFICE BOX AGREEMENT
                        ---------------------------------

                             Schedule E-1                    Servicing Agreement

                [Form of Post Office Box Agreement Appears Here]

<PAGE>

                                                                Schedule 2.08(i)
                                                                      Litigation

                                   LITIGATION
                                   ----------

                                      None.

                                    Schedule                 Servicing Agreement
                                   2.08(i)-1<PAGE>

                                                                   Exhibit 10.16

                            INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (this "Agreement") is made and entered into
as of the ____ day of _____________, 2003 by and between CONN'S, INC., a
Delaware corporation (the "Company"), and _______________________ (the
"Indemnitee").

                                   WITNESSETH:
                                   -----------

     WHEREAS, the interpretation of ambiguous statutes, regulations and bylaws
regarding indemnification of directors and officers may be too uncertain to
provide such directors and officers with adequate notice of the legal, financial
and other risks to which they may be exposed by virtue of their service as such;
and

     WHEREAS, damages sought against directors and officers in stockholder or
similar litigation by class action plaintiffs may be substantial, and the costs
of defending such actions and of judgments in favor of plaintiffs or of
settlement therewith may be prohibitive for individual directors and officers,
without regard to the merits of a particular action and without regard to the
culpability of, or the receipt of improper personal benefit by, any named
director or officer to the detriment of the corporation; and

     WHEREAS, the issues in controversy in such litigation usually relate to the
knowledge, motives and intent of the director or officer, who may be the only
person with firsthand knowledge of essential facts or exculpating circumstances
who is qualified to testify in such person's defense regarding matters of such a
subjective nature, and the long period of time which may elapse before final
disposition of such litigation may impose undue hardship and burden on a
director or officer or on such person's estate in launching and maintaining a
proper and adequate defense for a director or officer or for such person's
estate against claims for damages; and

     WHEREAS, the Company is organized under the Delaware General Corporation
Law (the "DGCL") and Section 145 of the DGCL empowers corporations to indemnify
and advance expenses to a person serving as a director, officer, employee or
agent of a corporation and to a person serving at the request of the corporation
as a director, officer, partner, trustee, employee or agent of another
corporation, partnership, joint venture, trust, other enterprise or employee
benefit plan, and further provides that the indemnification and advancement of
expenses provided by, or granted pursuant to, said section "shall not be deemed
exclusive of any other rights to which those seeking indemnification or
advancement of expenses may be entitled under any bylaw, agreement, vote of
stockholders or disinterested directors or otherwise, both as to action in such
person's official capacity and as to action in another capacity while holding
such office"; and

     WHEREAS, the Certificate of Incorporation of the Company (as it may be
amended or amended and restated from time to time, the "Certificate of
Incorporation") provides that the Company shall indemnify certain persons to the
fullest extent permitted by the DGCL; and

     WHEREAS, the Board of Directors and stockholders of the Company (the
"Board") have concluded that it is reasonable and prudent for the Company
contractually to obligate itself

<PAGE>

to indemnify in a reasonable and adequate manner the Indemnitee and to assume
for itself maximum liability for expenses and damages in connection with claims
lodged against the Indemnitee for such person's decisions and actions as a
director, officer, employee or agent of the Company and its subsidiaries.

     NOW, THEREFORE, in consideration of the foregoing, and of other good and
valuable consideration, the receipt and sufficiency of which are acknowledged by
each of the parties hereto, the parties agree as follows:

                                   ARTICLE 1
                                  DEFINITIONS

     For purposes of this Agreement, the following terms shall have the meanings
set forth below:

     1.1    "Board" shall mean the Board of Directors of the Company.

     1.2    "Change in Control" shall mean a change in the possession, direct or
indirect, of the power to direct or cause the direction of the management and
policies of the Company, whether through the ownership of Voting Securities, by
contract, or otherwise.

     1.3    "Corporate Status" shall mean the status of a person who is or was a
director, officer, employee or agent of the Company, or is or was a member of
any committee of the Board, and the status of a person who is or was serving at
the request of the Company as a director, officer, partner (including service as
a general partner of any limited partnership), member, trustee, employee, or
agent of another foreign or domestic corporation, partnership, limited liability
company, joint venture, trust, other incorporated or unincorporated entity or
enterprise or employee benefit plan. For the purposes of this Agreement, any
person serving as a director, officer, partner, member, trustee, employee, or
agent of any subsidiary of the Company or any employee benefit plan of the
Company or any of its subsidiaries shall be deemed to be so serving at the
request of the Company, and no corporate or other action shall be or be deemed
to be required to evidence any such request.

     1.4    "Disinterested Director" shall mean a director of the Company who is
not a party to the Proceeding in respect of which indemnification is being
sought by the Indemnitee.

     1.5    "Expenses" shall mean any and all expenses actually and reasonably
incurred directly or indirectly in connection with a Proceeding, including,
without limitation, all attorneys' fees, retainers, court costs, transcript
costs, fees of experts, investigation fees and expenses, accounting and witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees and all other disbursements or expenses
of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating or being or preparing to be a
witness in a Proceeding.

     1.6    "Good Faith" shall mean, when used with reference to an act or
omission of the Indemnitee, an act or omission other than (i) an act or omission
committed in bad faith and in a manner the Indemnitee believed to be opposed to
the best interests of the Company; (ii) an act or omission that was the result
of intentional misconduct involving active or deliberate dishonesty;

                                      -2-

<PAGE>

(iii) an act or omission from which the Indemnitee actually received an improper
personal benefit in money, property or services; or (iv) in the case of a
criminal Proceeding, an act or omission which involves a knowing violation of
law.

     1.7    "Liabilities" shall mean liabilities of any type whatsoever,
including, without limitation, any judgments, fines, excise taxes and penalties
under the Securities Act of 1933, as amended, the Securities Exchange Act of
1934, as amended, the Employee Retirement Income Security Act of 1974, as
amended, penalties and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect
of such judgments, fines, penalties or amounts paid in settlement) actually and
reasonably incurred directly or indirectly in connection with the investigation,
defense, settlement or appeal of any Proceeding or any claim, issue or matter
therein.

     1.8    "Proceeding" shall mean any threatened, pending or completed action,
suit, proceeding, arbitration, alternate dispute resolution mechanism,
investigation, administrative hearing or any other actual, threatened or
completed proceeding, whether civil, criminal, administrative, arbitrative or
investigative, any appeal or appeals therefrom, and any inquiry or investigation
that could lead to any of the foregoing.

     1.9    "Voting Securities" shall mean any securities of the Company that
are entitled to vote generally in the election of directors.

                                    ARTICLE 2
                                TERM OF AGREEMENT

     This Agreement shall continue until, and terminate upon the later to occur
of (i) the death of the Indemnitee; or (ii) the final termination of all
Proceedings (including possible Proceedings) in respect of which the Indemnitee
is granted rights of indemnification or advancement of Expenses hereunder and of
any Proceeding commenced by the Indemnitee regarding the interpretation or
enforcement of this Agreement. This Agreement shall govern the indemnification
rights of the Indemnitee for all Liabilities and Expenses in connection with any
Proceeding instituted or commenced on or after the date hereof notwithstanding
that any alleged act or omission of the Indemnitee occurred prior to the date
hereof.

                                    ARTICLE 3
                    NOTICE OF PROCEEDINGS; DEFENSE OF CLAIMS

     3.1    Notice of Proceedings. The Indemnitee will notify the Company
promptly in writing upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding
or matter which may be subject to indemnification or advancement of Expenses
covered hereunder, but the Indemnitee's failure to so notify the Company shall
not relieve the Company from any liability to the Indemnitee under this
Agreement, except to the extent that the Company suffers actual prejudice as a
result of such failure.

     3.2    Defense of Claims. The Company will be entitled to participate, at
the expense of the Company, in any Proceeding of which the Company has notice.
The Company jointly with any other indemnifying party similarly notified of any
Proceeding will be entitled to assume

                                      -3-

<PAGE>

the defense of the Indemnitee therein, with counsel reasonably satisfactory to
the Indemnitee; provided, however, that the Company shall not be entitled to
assume the defense of the Indemnitee in any Proceeding if there has been a
Change in Control or if the Indemnitee has reasonably concluded that there may
be a conflict of interest between the Company and the Indemnitee with respect to
such Proceeding. The Company will not be liable to the Indemnitee under this
Agreement for any Expenses incurred by the Indemnitee in connection with the
defense of any Proceeding, other than reasonable costs of investigation or as
otherwise provided below, after notice from the Company to the Indemnitee of its
election to assume the defense of the Indemnitee therein. The Indemnitee shall
have the right to employ his or her own counsel in any such Proceeding, but the
fees and expenses of such counsel incurred after notice from the Company of its
assumption of the defense thereof shall be at the expense of the Indemnitee
unless (i) the employment of counsel by the Indemnitee has been authorized by
the Company; (ii) the Indemnitee shall have reasonably concluded that counsel
employed by the Company may not adequately represent the Indemnitee and shall
have so informed the Company; or (iii) the Company shall not in fact have
employed counsel to assume the defense of the Indemnitee in such Proceeding or
such counsel shall not, in fact, have assumed such defense or such counsel shall
not be acting, in connection therewith, with reasonable diligence; and in each
such case the fees and expenses of the Indemnitee's counsel shall be advanced by
the Company.

     3.3    Settlement of Claims. The Company shall not settle any Proceeding in
any manner which would impose any Liability, penalty or limitation on the
Indemnitee, or cause the Indemnitee to become subject to or bound by any
injunction, order, judgment or decree, without the written consent of the
Indemnitee, which consent shall not be unreasonably withheld or delayed. The
Company shall not be liable to indemnify the Indemnitee under this Agreement or
otherwise for any amounts paid in settlement of any Proceeding effected by the
Indemnitee without the Company's written consent, which consent shall not be
unreasonably withheld or delayed.

                                    ARTICLE 4
                                 INDEMNIFICATION

     4.1    In General. Upon the terms and subject to the conditions set forth
in this Agreement, the Company shall hold harmless and indemnify the Indemnitee
against any and all Liabilities and Expenses actually incurred by or for the
Indemnitee in connection with any Proceeding (whether the Indemnitee is or
becomes a party, a witness or otherwise is a participant in any role) to the
fullest extent required or permitted by applicable law in effect on the date
hereof and to such greater extent as applicable law may hereafter from time to
time require or permit. To the extent that the Indemnitee has at any time
heretofore served or at any time hereafter serves as a director, officer,
employee, partner, trustee or agent of, for, or on behalf of any subsidiary of
the Company, the Company expressly agrees and acknowledges that Indemnitee was
or is serving in each such capacity at the request of the Company.

     4.2    Proceeding other Than a Proceeding by or in the Right of the
Company. Without limiting the generality of Section 4.1, if the Indemnitee was
or is a party or is threatened to be made a party to any Proceeding (whether the
Indemnitee is or becomes a party, a witness or otherwise is a participant in any
role) (other than a Proceeding by or in the right of the Company) by reason of
the Indemnitee's Corporate Status, or by reason of any alleged act or omission
by

                                      -4-

<PAGE>

the Indemnitee in any such capacity, the Company shall, subject to the
limitations set forth in Section 4.6 below, hold harmless and indemnify the
Indemnitee against any and all Liabilities and Expenses of the Indemnitee in
connection with the Proceeding if the Indemnitee acted in Good Faith.

     4.3    Proceeding by or in the Right of the Company. Without limiting the
generality of Section 4.1, if the Indemnitee was or is a party or is threatened
to be made a party to any Proceeding (whether the Indemnitee is or becomes a
party, a witness or otherwise is a participant in any role) by or in the right
of the Company to procure a judgment in its favor by reason of the Indemnitee's
Corporate Status, or by reason of any alleged act or omission by the Indemnitee
in any such capacity, the Company shall, subject to the limitations set forth in
Section 4.6 below, hold harmless and indemnify the Indemnitee against any and
all Expenses of the Indemnitee in connection with the Proceeding if the
Indemnitee acted in Good Faith; except that no indemnification under this
Section 4.3 shall be made in respect of any claim, issue or matter as to which
the Indemnitee shall have been finally adjudged, pursuant to a judgment or other
adjudication which is final and has become nonappealable, to be liable to the
Company, unless a court of appropriate jurisdiction (including, but not limited
to, the court in which such Proceeding was brought) shall determine upon
application that, despite the adjudication of liability but in view of all the
circumstances of the case, the Indemnitee is fairly and reasonably entitled to
indemnification for such Expenses which such court shall deem proper.

     4.4    Indemnification of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that the
Indemnitee is or has been successful on the merits or otherwise in defense of
any Proceeding, the Indemnitee shall be indemnified by the Company to the
maximum extent consistent with law against all Expenses of the Indemnitee in
connection therewith. If the Indemnitee is not wholly successful in such
Proceeding but is or has been successful on the merits or otherwise in defense
of one or more but less than all claims, issues or matters in such Proceeding,
the Company shall hold harmless and indemnify the Indemnitee to the maximum
extent consistent with law against all Expenses of the Indemnitee in connection
with each successfully resolved claim, issue or matter in such Proceeding.
Resolution of a claim, issue or matter by dismissal, with or without prejudice,
shall be deemed a successful result as to such claim, issue or matter.

     4.5    Indemnification for Expenses of Witness. Notwithstanding any other
provision of this Agreement, to the extent that the Indemnitee, by reason of the
Indemnitee's Corporate Status, has prepared to serve or has served as a witness
in any Proceeding, or has participated in discovery proceedings or other trial
preparation, the Indemnitee shall be held harmless and indemnified against all
Expenses of the Indemnitee in connection therewith.

     4.6    Specific Limitations on Indemnification. In addition to the other
limitations set forth in this Article IV, and notwithstanding anything in this
Agreement to the contrary, the Company shall not be obligated under this
Agreement to make any payment to the Indemnitee for indemnification of
Liabilities or Expenses, or both, in connection with any Proceeding:

            (a)  To the extent that payment of any of the Liabilities or
     Expenses of the Indemnitee is actually made to the Indemnitee under any
     insurance policy or is made on

                                      -5-

<PAGE>

     behalf of the Indemnitee by or on behalf of the Company otherwise than
     pursuant to this Agreement; or

            (b)  For an accounting of profits made from the purchase or sale by
     the Indemnitee of securities of the Company within the meaning of section
     16(b) of the Securities Exchange Act of 1934, as amended, or similar
     provisions of any federal, state or local statute or regulation.

                                    ARTICLE 5
                             ADVANCEMENT OF EXPENSES

     Notwithstanding any provision to the contrary in Article VI hereof, the
Company shall pay or reimburse all Expenses of the Indemnitee incurred by or for
the Indemnitee in connection with any Proceeding in advance of the final
disposition of such Proceeding, provided that the Company receives an
undertaking by or on behalf of the Indemnitee to repay such amounts if it shall
ultimately be determined that the Indemnitee is not entitled to be indemnified
by the Company under applicable law (the "Undertaking"). The Undertaking shall
reasonably evidence the Expenses incurred by or for the Indemnitee. The Company
shall pay all such Expenses within five (5) business days after the receipt by
the Company of the Undertaking. The Undertaking shall be unsecured and interest
free, and shall be made and accepted by the Company without reference to the
Indemnitee's financial ability to make repayment.

                                    ARTICLE 6
                             PROCEDURE FOR PAYMENT;
                    DETERMINATION OF RIGHT TO INDEMNIFICATION

     6.1    Procedure for Payment. To obtain indemnification for Liabilities
under this Agreement, and to obtain indemnification for Expenses not paid in
advance of the final disposition of any Proceeding pursuant to Article V, the
Indemnitee shall submit to the Company a written request for payment, including
with such request such documentation as is reasonably available to the
Indemnitee and reasonably necessary to determine whether, and to what extent,
the Indemnitee is entitled to indemnification and payment hereunder. The
Secretary of the Company, or such other person as shall be designated by the
Board of Directors, promptly upon receipt of a request for indemnification shall
advise the Board of Directors, in writing, of such request. Any indemnification
payment due hereunder shall be paid by the Company no later than five (5)
business days following the determination, pursuant to this Article VI, that
such indemnification payment is proper hereunder.

     6.2    No Determination Necessary when the Indemnitee was Successful. To
the extent the Indemnitee is or has been successful on the merits or otherwise
in defense of any Proceeding, or in defense of any claim, issue or matter
therein, the Company shall indemnify the Indemnitee against Expenses of the
Indemnitee in connection with any such Proceeding or any claim, issue or matter
therein as provided in Section 4.4.

     6.3    Determination of Good Faith Act or Omission. In the event that
Section 6.2 is inapplicable with respect to any Proceeding, or any claim, issue
or matter therein, the Company shall hold harmless and indemnify the Indemnitee
as provided herein unless the Company shall

                                      -6-

<PAGE>

prove by clear and convincing evidence to a forum listed in Section 6.4 that the
Indemnitee did not act in Good Faith.

     6.4    Forum for Determination. If the Indemnitee is serving as a director
or officer of the Company at the time the determination is to be made, the
Indemnitee shall be entitled to select from among the following the forum in
which the validity of the Company's claim under Section 6.3 that the Indemnitee
is not entitled to indemnification will be heard:

            (a)  A majority vote of the directors who are Disinterested
     Directors, even though less than a quorum;

            (b)  By a committee of Disinterested Directors designated by a
     majority vote of the directors who are Disinterested Directors, even though
     less than a quorum;

            (c)  If there are no Disinterested Directors, or if such directors
     so direct, independent legal counsel selected by the Indemnitee, subject to
     the approval of the Board, which approval shall not be unreasonably delayed
     or denied, which counsel shall make such determination in a written
     opinion; or

            (d)  The stockholders of the Company, by the affirmative vote of the
     majority of the Voting Securities present in person or by proxy and
     entitled to vote on the subject matter.

     If the Indemnitee is not serving as a director or officer at the time the
determination is to be made, the Indemnitee shall be entitled to select from
among the forums set forth above, or to select any other person or persons
having corporate authority to act on the matter, including, without limitation,
the Board or any committee thereof or those persons who are authorized by
statute to determine whether to indemnify directors and officers.

     As soon as practicable, and in no event later than thirty (30) days after
written notice of the Indemnitee's choice of forum pursuant to this Section 6.4,
the Company shall, at the expense of the Company, submit to the selected forum,
in such manner as the Indemnitee or the Indemnitee's counsel may reasonably
request, its claim that the Indemnitee is not entitled to indemnification, and
the Company shall act in the utmost good faith to assure the Indemnitee a
complete opportunity to defend against such claim. The fees and expenses of the
selected forum in connection with making the determination contemplated
hereunder shall be paid by the Company. If the Company shall fail to submit the
matter to the selected forum within thirty (30) days after the Indemnitee's
written notice, or if the forum so empowered to make the determination shall
have failed to make the requested determination within thirty (30) days after
the matter has been submitted to it by the Company, the requisite determination
that the Indemnitee has the right to indemnification hereunder shall be deemed
to have been made by a majority vote of the directors who are Disinterested
Directors, even though less than a quorum.

     6.5    Right to Appeal. Notwithstanding a determination by any forum
listed in Section 6.4 that the Indemnitee is not entitled to indemnification
with respect to a specific Proceeding, or any claim, issue or matter therein,
the Indemnitee shall have the right to apply to the court in which that
Proceeding is or was pending, or to any other court of competent jurisdiction,
for the purpose of enforcing the Indemnitee's right to indemnification pursuant
to

                                      -7-

<PAGE>

this Agreement. Such enforcement action shall consider the Indemnitee's
entitlement to indemnification de novo, and the Indemnitee shall not be
prejudiced by reason of a prior determination that the Indemnitee is not
entitled to indemnification. The Company shall be precluded from asserting that
the procedures and presumptions of this Agreement are not valid, binding and
enforceable. The Company further agrees to stipulate in any such judicial
proceeding that the Company is bound by all the provisions of this Agreement and
is precluded from making any assertion to the contrary.

     6.6    Right to Seek Judicial Determination. Notwithstanding any other
provision of this Agreement to the contrary, at any time after sixty (60) days
after a request for indemnification has been made to the Company (or upon
earlier receipt of written notice that a request for indemnification has been
rejected or the expiration of time within which any such payment must be made
hereunder) and before the third (3rd) anniversary of the making of such
indemnification request, the Indemnitee may petition a court of competent
jurisdiction, whether or not such court has jurisdiction over, or is the forum
in which is pending, the Proceeding, to determine whether the Indemnitee is
entitled to indemnification hereunder, and such court thereupon shall have the
exclusive authority to make such determination, unless and until such court
dismisses or otherwise terminates the Indemnitee's action without having made
such determination. The court, as petitioned, shall make an independent
determination of whether the Indemnitee is entitled to indemnification
hereunder, without regard to any prior determination in any other forum as
provided hereby.

     6.7    Expenses under this Agreement. Notwithstanding any other provision
in this Agreement to the contrary, the Company shall indemnify the Indemnitee
against all Expenses incurred by the Indemnitee in connection with any hearing,
action, suit or proceeding under this Article VI involving the Indemnitee and
against all Expenses incurred by the Indemnitee in connection with any other
hearing, action, suit or proceeding between the Company and the Indemnitee
involving the interpretation or enforcement of the rights of the Indemnitee
under this Agreement, even if it is finally determined that the Indemnitee is
not entitled to indemnification in whole or in part hereunder.

                                    ARTICLE 7
                 PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS

     7.1    Burden of Proof. In making a determination with respect to
entitlement to indemnification hereunder, the person, persons, entity or
entities making such determination shall presume that the Indemnitee is entitled
to indemnification under this Agreement and the Company shall have the burden of
proof to overcome that presumption.

     7.2    Standards for Determining if Expenses Reasonably Incurred. It is a
purpose of this Agreement to induce the most highly qualified individuals to
accept positions of responsibility with the Company and, in so doing, to serve
as directors, officers, employees and agents of the Company. Accordingly, the
Company desires to provide the Indemnitee with the highest quality professional
services available if the Indemnitee becomes a party to or is otherwise involved
in a Proceeding because of the Indemnitee's Corporate Status without the
Indemnitee's incurring any personal Expense in connection therewith. The Company
therefore agrees that, subject to the provisions of Section 3.2, the Indemnitee
may retain attorneys,

                                      -8-

<PAGE>

accountants, investment bankers, and other professionals and experts anywhere
within the United States to represent the Indemnitee in any Proceeding in the
United States, that the Indemnitee may retain attorneys, accountants, investment
bankers, and other professionals without regard to location if the Proceeding is
not in the United States, and that the Company will not deny any request for
indemnification hereunder on the basis that the Expenses of any such attorneys,
accountants, investment bankers, or other professionals and experts are not or
have not been reasonably incurred because of the location of any such attorneys,
accountants, investment bankers, or other professionals and experts. The Company
further agrees that, for the purpose of determining if an Expense for
professional services, including, without limitation, fees of attorneys,
accountants, investment bankers, and other professionals and experts, is or has
been reasonably incurred, or for the purpose of determining the reasonableness
of any such Expense, the standard to be used shall be the highest rates per hour
or fees charged by attorneys specializing in the defense of individuals in
Proceedings similar to the Proceeding to which the Indemnitee is a party or
otherwise involved in the city or cities in which such attorneys are located,
and the highest rates per hour or fees charged by accountants, investment
bankers, and other professionals and experts assisting or participating in the
defense of individuals in Proceedings similar to the Proceeding to which the
Indemnitee is a party or otherwise involved in the city or cities in which such
accountants, investment bankers, and other professionals and experts are
located. In addition to the foregoing, the Company has determined that it is in
the Company's best interests that any director, officer, employee or agent of
Company who is involved in any Proceeding because of such person's Corporate
Status maintain to the greatest extent possible the confidentiality of matters
pertaining to such Proceeding, and that such person's participation in such
Proceeding be on conditions as similar as reasonably possible to conditions as
if such person were participating in the city of such person's personal
residence. Due to the continuing deterioration in commercial travel conditions,
however, it is increasingly more difficult to achieve this result, and,
accordingly, the Company desires to provide the Indemnitee with travel
arrangements that come most closely to achieving this result. The Company
therefore agrees that, for the purpose of determining whether any Expense
hereunder for travel related items is or has been reasonably incurred, or for
the purpose of determining the reasonableness of any such Expense, the standards
to be used shall be the non-stop first class airfare between destinations and
the daily non-discounted room rates charged by the highest rated hotel in the
destination city. Any Expense actually incurred for or on behalf of the
Indemnitee by any firm providing professional services, including, without
limitation, attorneys, accountants, investment bankers, and other professionals
and experts, to the Indemnitee in any Proceeding shall be deemed to be
reasonably incurred and reasonable. In determining whether any other Expense is
or has been reasonably incurred, or whether any such other Expense is
reasonable, the standard to be used shall be commensurate with the foregoing. In
the event the Company determines not to indemnify the Indemnitee hereunder for
any Expense on the basis that any such Expense was or has not been reasonably
incurred, the Company agrees that it must prove by clear and convincing evidence
that the professional or other services rendered for and on behalf of the
Indemnitee, or the goods or services received by or provided for or on behalf of
the Indemnitee, provided (i) no value whatsoever; and (ii) bore no reasonable
relationship whatsoever, to the defense of the Indemnitee in the Proceeding. In
the event the Company determines not to indemnify the Indemnitee hereunder for
any Expense on the basis that any such Expense is or was not reasonable, the
Company agrees that it must prove by clear and

                                      -9-

<PAGE>

convincing evidence that the challenged Expense is so grossly in excess of the
fair market value for the same or similar Expense as to be manifestly unfair.

     7.3    Effect of other Proceedings. The termination of any Proceeding or
of any claim, issue or matter therein, by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of
itself, create a presumption that the Indemnitee did not act in Good Faith.

     7.4    Reliance as Safe Harbor. For purposes of any determination of
whether any act or omission of the Indemnitee was done or made in Good Faith,
each act or omission of the Indemnitee shall be deemed to be in Good Faith if
the Indemnitee's act or omission is based on the records or books of accounts of
the Company, including financial statements, or on information supplied to the
Indemnitee by the officers of the Company in the course of their duties, or on
the advice of legal counsel for the Company, or on information or records given
or reports made to the Company by an independent certified public accountant or
by an appraiser or other expert selected with reasonable care by the Company.
The provisions of this Section 7.4 shall not be deemed to be exclusive or to
limit in any way the other circumstances in which the Indemnitee may be deemed
to have met the applicable standard of conduct set forth in this Agreement or
under applicable law.

     7.5    Actions of Others. The knowledge and/or actions, or failure to act,
of any other director, officer, agent or employee of the Company shall not be
imputed to the Indemnitee for purposes of determining the right to
indemnification under this Agreement.

                                    ARTICLE 8
                  INSURANCE; OTHER INDEMNIFICATION ARRANGEMENTS

     8.1    Insurance. In the event that the Company maintains officers' and
directors' or similar liability insurance to protect itself or any director or
officer of the Company against any expense, liability or loss, such insurance
shall cover the Indemnitee to at least the same degree as each other director
and/or officer of the Company.

     8.2    Other Arrangements. The Bylaws of the Company and the DGCL permit
the Company to purchase and maintain insurance on behalf of the Indemnitee
against any Liability asserted against or incurred by him or any Expenses
incurred by him or on his behalf in connection with actions taken or omissions
by the Indemnitee in his Corporate Status, whether or not the Company would have
the power to indemnify the Indemnitee under this Agreement or under the DGCL, as
they may be in effect from time to time. The purchase of any such insurance
shall in no way affect or limit the rights and obligations of the Indemnitee and
the Company hereunder, except as expressly provided herein, and the execution
and delivery of this Agreement by the Indemnitee and the Company shall in no way
affect or limit the rights and obligations of such parties under or with respect
to any other such Indemnification Arrangement (as defined in Section 10.1).

                                      -10-

<PAGE>

                                    ARTICLE 9
               OBLIGATIONS OF THE COMPANY UPON A CHANGE IN CONTROL

     In the event of a Change in Control, upon written request of the Indemnitee
the Company shall establish a trust for the benefit of the Indemnitee hereunder
(a "Trust") and from time to time, upon written request from the Indemnitee,
shall fund the Trust in an amount sufficient to satisfy all amounts that may
from time to time be payable to the Indemnitee hereunder as indemnification for
Liabilities or Expenses (including those that are required to be paid in advance
hereunder). The amount or amounts to be deposited in the Trust shall be
determined by legal counsel selected by the Indemnitee and approved by the
Company, which approval shall not be unreasonably withheld. The terms of the
Trust shall provide that (i) the Trust shall not be dissolved or the principal
thereof invaded without the written consent of the Indemnitee; (ii) the trustee
of the Trust (the "Trustee") shall be selected by the Indemnitee; (iii) the
Trustee shall make advances to the Indemnitee for Expenses within five (5)
business days following receipt of a written request therefor and the
Undertaking; (iv) the Company shall continue to fund the Trust from time to time
in accordance with its funding obligations hereunder; (v) the Trustee promptly
shall pay to the Indemnitee all amounts as to which indemnification is due under
this Agreement; (vi) unless the Indemnitee agrees otherwise in writing, the
Trust for the Indemnitee shall be kept separate from any other trust established
for any other person to whom indemnification might be due by the Company; and
(vii) all unexpended funds in the Trust shall revert to the Company upon final,
nonappealable determination by a court of competent jurisdiction that the
Indemnitee has been indemnified to the full extent required under this
Agreement.

                                   ARTICLE 10
                 NON-EXCLUSIVITY, SUBROGATION AND MISCELLANEOUS

     10.1   Non-Exclusivity. The rights of the Indemnitee hereunder shall not be
deemed exclusive of any other rights to which the Indemnitee may at any time be
entitled under any provision of law, the Certificate of Incorporation, the
Bylaws of the Company, as the same may be in effect from time to time, any other
agreement, a vote of stockholders of the Company or a resolution of directors of
the Company or otherwise (each an "Indemnification Arrangement"), and to the
extent that during the term of this Agreement the rights of the then-existing
directors and officers of the Company are more favorable to such directors or
officers than the rights currently provided to the Indemnitee under this
Agreement, the Indemnitee shall be entitled to the full benefits of such more
favorable rights. No amendment, alteration, rescission or replacement of this
Agreement or any provision hereof which would in any way limit the benefits and
protections afforded to an Indemnitee hereby shall be effective as to such
Indemnitee with respect to any act or omission by such Indemnitee in the
Indemnitee's Corporate Status prior to such amendment, alteration, rescission or
replacement.

     10.2   Subrogation. In the event of any payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights
of recovery of the Indemnitee, who shall execute all documents required and take
all action necessary to secure such rights, including execution of such
documents as are necessary to enable the Company to bring suit to enforce such
rights.

                                      -11-

<PAGE>

     10.3   Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given (i) if
delivered by hand, by courier or by telegram and receipted for by the party to
whom said notice or other communication shall have been directed at the time
indicated on such receipt; (ii) if by facsimile, at the time shown on the
confirmation of such facsimile transmission; or (iii) if by U.S. certified or
registered mail, with postage prepaid, on the third business day after the date
on which it is so mailed: if to the Indemnitee, to the address shown with the
Indemnitee's signature below; if to the Company to:

                Conn's, Inc.
                3925 College Street
                Beaumont, Texas 77701
                Attention: Chief Financial Officer
                Facsimile No. (409) 212-9521

With a copy to: Winstead Sechrest & Minick P.C.
                1201 Elm Street
                5400 Renaissance Tower
                Dallas, TX 75270
                Attn: Thomas W. Hughes, Esq.
                Fax No: (214) 745-5390

or to such other address as may have been furnished to the Indemnitee by the
Company or to the Company by the Indemnitee, as the case may be.

     10.4   Governing Law. The parties agree that this Agreement shall be
governed by, and construed and enforced in accordance with, the substantive laws
of the State of Delaware, without regard to the principles of choice of laws
thereof.

     10.5   Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their heirs, executors, administrators,
legal representatives, successors and permitted assigns. This Agreement cannot
be assigned by the Company, either directly or indirectly, by purchase, merger,
consolidation or otherwise, without the express written consent of the
Indemnitee unless the Company shall have received, prior to such assignment,
from any successor or assignee (whether direct or indirect, by purchase, merger,
consolidation or otherwise) a written agreement, in form, scope and substance
reasonably satisfactory to the Indemnitee, expressly to assume and agree to be
bound by and to perform this Agreement in the same manner and to the same extent
as the Company would be required to perform absent such succession or
assignment.

     10.6   Severability. If any provision of this Agreement is held invalid or
unenforceable by any court of competent jurisdiction, the other provisions of
this Agreement will remain in full force and effect. Any provision of this
Agreement held invalid or unenforceable only in part or degree will remain in
full force and effect to the extent not held invalid or unenforceable. It is the
express intention and agreement of the Company and the Indemnitee that any court
of competent jurisdiction that interprets or enforces this Agreement have full
power and authority to reform any provision of this Agreement to modify the
invalid or unenforceable provision to achieve the parties' intent to provide the
Indemnitee with indemnification for Liabilities and Expenses to the maximum
extent permitted by applicable law.

     10.7   Waiver. No termination, cancellation, modification, amendment,
deletion, addition or other change in this Agreement, or any provision hereof,
or waiver of any right or remedy herein, shall be effective for any purpose
unless specifically set forth in a writing signed by the party or parties to be
bound thereby. The waiver of any right or remedy with respect to any occurrence
on one occasion shall not be deemed a waiver of such right or remedy with
respect to such occurrence on any other occasion.

     10.8   Entire Agreement. This Agreement constitutes the entire agreement
and understanding among the parties hereto in reference to the subject matter
hereof; provided, however, that the parties acknowledge and agree that the DGCL
and the Certificate of

                                      -12-

<PAGE>

Incorporation and Bylaws of the Company and each of its subsidiaries contain
provisions on the subject matter hereof and that this Agreement is not intended
to, and does not, limit the rights or obligations of the parties hereto pursuant
to the DGCL or such instruments, or under any other contract, agreement,
insurance policy or other instrument or document heretofore or hereafter
existing which provides to the Indemnitee any right of indemnification or
reimbursement of any nature whatsoever or requirement that the Company carry any
directors and officers insurance.

     10.9   Titles. The titles to the articles and sections of this Agreement
are inserted for convenience of reference only and should not be deemed a part
hereof or affect the construction or interpretation of any provisions hereof.

     10.10  Pronouns and Plurals. Whenever the context may require, any pronoun
used in this Agreement shall include the corresponding masculine, feminine or
neuter forms, and the singular form of nouns, pronouns and verbs shall include
the plural and vice versa.

     10.11  Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together constitute one agreement binding on all the parties hereto.

   [Remainder of This Page Intentionally Left Blank. Signature Page Follows.]

                                      -13-

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

                                        CONN'S, INC.

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

                                        INDEMNITEE

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

                                                   -----------------------------

                                      -14-

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