Document:

exv10w1

 

Exhibit 10.1

STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT (this “Agreement”), dated March ___, 2008, is made by
and between EZPAWN Florida, Inc., a Delaware corporation (the “Buyer”) and Value Financial
Services, Inc., a Florida corporation, (the “Company”).

R E C I T A L S:

     WHEREAS, the Buyer desires to purchase shares of common stock of the Company upon the terms
and conditions hereinafter set forth; and

     WHEREAS, the Company desires to sell the Buyer shares of its common stock upon the terms and
conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of the mutual promises herein made, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Buyer and
the Company agree as follows:

     1. Definitions. For purposes of this Agreement, the following terms shall have the
meanings set forth below and any derivatives of the terms shall have correlative meanings:

     “Credit Facility” shall mean the $37 million financing arrangement between the Company
and Fifth Third Bank, dated June 15, 2007.

     “Contracts” shall mean, collectively, all oral and written contracts, agreements,
instruments, documents, leases, indentures, insurance policies, undertakings or other obligations.

     “Disclosure Schedule” shall mean the disclosure schedule attached hereto and
incorporated herein, delivered by the Company to the Buyer as soon as practicable after the
execution of this Agreement.

     “Due Diligence Investigation” shall mean Buyer’s investigation and review of the
Company’s assets, Contracts, projects, Disclosure Schedules, Financial Statements, Licenses, other
books and records of account, interviews with officers, management, and customers, and such other
information as may be exchanged by the parties for purposes of effectuating this Agreement.

     “Financial Statements” shall mean, collectively, the audited financial statements
(including balance sheets and statement of earnings, stockholders’ equity and cash flow) of the
Company for each of its fiscal years ending December 31, 2004, through and including December 31,
2006, and the unaudited financial statements (including balance sheets and statement of earnings,
stockholders’ equity and cash flow) of the Company for it fiscal year ending December 31, 2007.

     “Governmental Authority” shall mean the government of the United States or any foreign
jurisdiction, any state, county, municipality or other governmental or quasi governmental unit, or
any agency, board, bureau, instrumentality, department or commission (including any court or other
tribunal) of any of the foregoing and any body exercising or entitled to exercise any
administrative, executive, judicial, legislative, police, regulatory or taxing authority of any
nature whatsoever.

     “Hart-Scott-Rodino Act” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended.

     “Knowledge” shall mean that an individual:

          (1) is actually aware of such fact or other matter, or

 

 

          (2) a prudent individual in the position of the Company could be expected to discover or
otherwise become aware of such fact or other matter in the course of conducting a reasonable
investigation concerning the existence of such fact or other matter.

     A Person other than an individual will be deemed to have “Knowledge” of a particular fact or
matter if any individual who is serving, or who has at any time served, as a director, officer,
partner, executor, or trustee of such Person (or in any similar capacity) has, or at any time had,
Knowledge of such fact or matter.

     “Laws” shall mean, collectively, all federal, state, local, municipal, foreign or
international constitutions, laws, statutes, ordinances, rules, regulations, codes, or principles
of common law.

     “Leases” shall mean, collectively, leases, contracts, agreements and other documents
providing the Company with a right to use specified real and/or personal property.

     “Licenses” shall mean, collectively, governmental, regulatory, administrative and non
governmental licenses, permits, approvals, certifications, accreditations, notices and other
authorizations.

     “Material Adverse Change” or “Material Adverse Effect” shall mean any materially
adverse change in or effect on the financial condition, business, operations, assets, properties or
results of operations of the Company; provided, however, that none of the following shall be deemed
to have caused, constitute, or be taken into account in determining whether there has been a
Material Adverse Change or Material Adverse Effect: (1) any change or effect arising from or
relating to: (a) financial, banking or securities markets (including any disruption thereof and any
decline in the price of any security or any market index); (b) changes in United States generally
accepted accounting principles; (c) changes in the Company’s general industry or the economy of the
U.S. as a whole; and (d) adverse changes or effects arising from the announcement or consummation
of the transactions contemplated hereby; (2) any change or effect in the Ordinary Course; and (3)
any change or effect that is cured before the earlier of (a) the Closing Date and/or (b) the date
on which this Agreement is terminated pursuant to Section 9.

     “Orders” shall mean all decisions, injunctions, writs, guidelines, orders,
arbitrations, awards, judgments, subpoenas, verdicts or decrees entered, issued, made or rendered
by any Governmental Authority.

     “Ordinary Course” shall mean the ordinary course of the Company’s business, consistent
with the past practices of the Company.

     “Person” shall mean any individual, corporation (including any non-profit
corporation), general or limited partnership, limited liability company, joint venture, estate,
trust, association, organization, labor union, or other entity or Governmental Authority.

     2. Sale and Purchase of Common Stock; Hart-Scott-Rodino.

          2.1 Sale and Purchase. Upon the terms and subject to the conditions of this Agreement,
at Closing, the Company shall sell, transfer, convey and deliver to the Buyer, and the Buyer shall
acquire, purchase and accept from the Company, up to 6,646,359 shares of common stock, par value
$0.01 per share, of the Company (the “Shares”) including all shares of common stock
issuable on the conversion of other classes and series of Capital Stock to Common Stock and
exercise of any convertible securities, and representing up to one hundred percent (100%) of the
Company’s voting securities.

          2.2 Hart-Scott-Rodino. The Buyer and the Company will file any Notification and Report
Forms and related material that it may be required to file with the Federal Trade Commission and
the Antitrust Division of the United States Department of Justice under the Hart-Scott-Rodino Act,
will use its commercially reasonable efforts to obtain an early termination of the applicable
waiting period, and will make any further filings pursuant thereto that may be necessary, proper,
or advisable in connection therewith. The fees and expenses of any such filing shall be borne 50%
by the Buyer and 50% by the Company.

 

 

     3. Purchase Price; Payment; Closing.

          3.1 Purchase Price; Payment. The purchase price to be paid by the Buyer to the Company
for the Shares shall be $11.00 per share (the “Purchase Price”). The Buyer shall cause the
Purchase Price to be paid on the Closing Date by certified check or wire transfer of immediately
available funds to an account which shall have been designated by the Company at least three
business days prior to Closing.

          3.2 Closing. The closing of the transactions contemplated by this Agreement
(“Closing”) shall be held at the principal office of Greenberg Traurig, P.A. in Orlando,
Florida, commencing at 10:00 A.M., local time, on April 30, 2008, or at such other time and place
as the Company and the Buyer mutually agree (the “Closing Date”). The Closing shall be
effective as of 12:01 a.m. on the Closing Date. At Closing, delivery of the Shares, endorsed in
blank for transfer, shall be made to the Buyer against payment therefore, by check or by wire
transfer of immediately available funds. The Company shall promptly record the transfer of the
Shares on the share records of the Company and deliver new share certificates for the Shares to the
Buyer.

          3.3 Conduct Pending Closing. From the date that the Buyer delivers written notice to
the Company that it has completed its due diligence investigation of the Company and desires to
proceed with the transactions contemplated by this Agreement pursuant to Section 8.7 below until
Closing, the Company will conduct its business only in the Ordinary Course unless otherwise
expressly agreed by the Buyer in writing; provided, that from the date of execution of this
Agreement, the Company shall promptly inform the Buyer of business operations outside the Ordinary
Course.

     4. Representations and Warranties by the Company. The Company represents and warrants
that, except as set forth in the Disclosure Schedule, which Disclosure Schedule shall be deemed to
be representations and warranties as if made hereunder (which Disclosure Schedule shall be
delivered to the Buyer within ten (10) days after execution of this Agreement and which shall make
explicit reference to the particular representation or warranty as to which exception is taken,
which in each case shall constitute the sole representation and warranty as to which such exception
shall apply):

          4.1 Enforceability. The Company has all necessary power and authority to enter into
and consummate the transactions contemplated by this Agreement in accordance with its terms. This
Agreement is a valid and binding obligation of the Company, enforceable against it in accordance
with its terms.

          4.2 Organization and Qualification. The Company is a corporation duly organized and
validly existing under the Laws of the State of Florida. The Company is qualified to transact
business as a domestic or foreign corporation or organization in every jurisdiction where the
failure to so qualify would have a Material Adverse Effect.

          4.3 Conflicting Obligations on Execution. The execution and delivery of this
Agreement do not: (a) conflict with or violate any provisions of, or result in the maturation or
acceleration of, any obligations under any Contract, Order, License, Law or restriction to which
the Company is subject or a party to the extent such conflict or violation has a Material Adverse
Effect; or (b) violate any restriction or limitation, or result in the termination, or loss of any
right (or give any third party the right to cause such termination or loss), of any kind to which
they are bound or have to the extent such violation, termination or loss has a Material Adverse
Effect, other than the Credit Facility and certain Leases.

          4.4 Capitalization. The capitalization of the Company as set forth in the Investor
Listing dated December 31, 2007 (“Cap Table”) and delivered to the Buyer is complete and accurate
as of the execution of this Agreement. There are no outstanding options, warrants, convertible
securities or other rights to subscribe for or acquire any capital stock or securities convertible
into capital stock of the Company, other than as set forth in the Cap Table. All capital stock has
been issued in compliance with applicable federal and state securities Laws.

          4.5 Organizational Documents. True, correct and complete copies of the articles of
incorporation, by-laws and other organizational documents, as amended, of the Company have been
delivered to the Buyer. Except as provided in this Agreement, there has been no change in the
rights, preferences or other terms of the Company’s capital stock since the filing of the Company’s
Amended and Restated Articles of Incorporation with the Secretary of State of Florida on September
10, 2001.

 

 

          4.6 Financial Statements. The Company has provided to the Buyer true and complete
copies of the Company’s audited Financial Statements for the previous three fiscal years, together
with unaudited financial statements for the fiscal year ending December 31, 2007, and internally
prepared supplemental notes concerning the status of the Company’s assets and liabilities. The
Company’s Financial Statements and other books and records of account accurately reflect all of the
assets, liabilities, transactions and results of operations of the Company, and the Financial
Statements have been prepared based upon and in conformity therewith. The Financial Statements have
been prepared in accordance with generally accepted accounting principles maintained and applied on
a consistent basis throughout the indicated periods, and fairly present the financial condition and
results of operation of the Company at the dates and for the relevant periods indicated, except
that interim unaudited Financial Statements do not include footnotes and certain financial
presentations normally required under generally accepted accounting principles. At least 15 days
prior to Closing, the Company shall provide to the Buyer audited financial statements for the
fiscal year ended December 31, 2007, which financial statements shall have been prepared in
accordance with the provisions of the immediately preceding sentence of this Section.

          4.7 Licenses. The Company possesses all Licenses as are necessary for the consummation
of the transactions contemplated hereby or the conduct of its business or operations where the
failure to have such License would have a Material Adverse Effect. Neither the execution of this
Agreement nor the consummation of the transactions contemplated hereby will result in the
revocation, or an adverse change in the terms or conditions, of any of the Licenses, to the extent
such revocation or adverse change has a Material Adverse Effect, and all Licenses shall continue in
full force and effect in accordance with their present terms unaffected by the consummation of the
transactions contemplated hereby.

          4.8 Litigation. There are no claims, lawsuits, actions, arbitrations or other
proceedings or governmental investigations (collectively, “Claims”) pending with respect to this
Agreement and the transactions contemplated hereby. The Company has not received written notice of
any Claims, which would have a Material Adverse Effect, pending or against the Company or any of
its officers, directors, employees or affiliates involving, affecting or relating to the Company or
the transactions contemplated by this Agreement, nor have any such matters been threatened against
the Company. There are no outstanding judgments, orders, injunctions, decrees, stipulations or
awards (whether rendered by a court or administrative agency, or by arbitration) regarding the
Company.

          4.9 Compliance With Law. To the Knowledge of the Company, the conduct of the
Company’s business does not violate, and the Company is not in default under, any Law or Order.

          4.10 Brokerage. The Company has not incurred, nor made commitment for, any brokerage,
finder’s or similar fee in connection with the transaction contemplated by this Agreement, other
than to Stephens Inc.

          4.11 No Material Adverse Change. Since December 31, 2007, there has not been any
Material Adverse Effect, and no event has occurred or circumstance exists that may result in a
Material Adverse Effect.

          4.12 Representations and Warranties True and Correct. The representations and
warranties contained herein, and all other documents, certifications, materials and written
statements or information given to the Buyer by or on behalf of the Company or disclosed on the
Disclosure Schedule, do not include any untrue statement of a material fact or omit to state a
material fact required to be stated herein or therein in order to make the statements herein or
therein, in light of the circumstances under which they are made, not misleading.

     5. Buyer’s Representations and Warranties. The Buyer represents and warrants that:

          5.1 Organization. The Buyer is a corporation duly organized and validly existing under
the laws of the State of Delaware.

          5.2 Enforceability; Conflicting Obligations. This Agreement and all other agreements
of the Buyer contemplated hereby are or, upon the execution thereof, will be the valid and binding
obligations of the Buyer enforceable against it in accordance with their terms. The execution and
delivery of this Agreement do not, and the consummation of the purchase of the Shares will not,
conflict with or violate any provision of the articles of organization of the Buyer, nor any
provisions of, or result in the acceleration of, any obligation of the Buyer.

 

 

          5.3 Authorization. The Buyer has all necessary corporate power and authority to enter
into and perform the transactions contemplated herein in accordance with the terms and conditions
hereof. The execution and delivery of this Agreement, and the performance by the Buyer of its
obligations contained herein, have been duly approved by the Buyer.

          5.4 Brokerage. The Buyer has not incurred, nor made commitment for, any brokerage,
finder’s or similar fee in connection with the transactions contemplated by this Agreement.

          5.5 Litigation. There is no litigation, proceeding or governmental investigation
pending, or to the Buyer’s knowledge, threatened against or relating to the transactions
contemplated herein.

          5.6 Representations and Warranties True and Correct. The representations and
warranties contained herein, and all other documents, certifications, materials and written
statements or information given to the Company by or on behalf of the Buyer or disclosed on the
Disclosure Schedule, do not include any untrue statement of a material fact or omit to state a
material fact required to be stated herein or therein in order to make the statements herein or
therein, in light of the circumstances under which they are made, not misleading.

     6. Tender Offer.

          6.1 The Company covenants that within 60 days after the date of this Agreement, the Company
will make a cash tender offer to its shareholders to purchase up to 6,646,369 shares of its issued
and outstanding capital stock (“Capital Stock”), which number of shares includes all shares
of common stock issuable upon conversion of all other classes of Capital Stock to common stock
(“Tender Offer”). The Tender Offer shall be for a purchase price of $11.00 per share.

          6.2 The Tender Offer will be conducted in compliance with federal and state laws, including
the provisions of Regulation 14E promulgated by the Securities and Exchange Commission.

     7. Conditions Precedent to Buyer’s Obligation to Close. The obligation of the Buyer to
consummate the transactions contemplated by this Agreement shall be subject to the satisfaction and
fulfillment of each of the following express conditions precedent prior to and on the Closing Date
(any of which may be waived by Buyer, in whole or in part):

          7.1 Tendered Shares. The shareholders of the Company shall have tendered to the
Company for purchase at least seventy percent (70%) of the outstanding shares of Capital Stock,
(“Tendered Shares”), including all shares of common stock issuable upon conversion of all
other classes of Capital Stock to common stock.

          7.2 Conversion of Capital Stock. Any shares of Capital Stock or convertible securities
not tendered to the Company for purchase shall have been converted into shares of common stock of
the Company.

          7.3 Hart-Scott-Rodino. All applicable waiting periods (and any extensions thereof)
under the Hart-Scott-Rodino Act shall have expired or otherwise been terminated and the Company and
the Buyer shall have received all authorizations, consents, and approvals of governments and
governmental agencies.

          7.4 Representation and Warranties. All the representations and warranties in this
Agreement made by the Company (except those contained in Section 4.3) must be accurate in all
material respects as of the Closing Date as if made on the Closing Date.

          7.5 Performance of Covenants and Obligations. The Company shall have performed and
complied with all of its covenants and obligations under this Agreement which are to be performed
or complied with by it prior to or on the Closing Date.

          7.6 Material Adverse Change. From and after the date of this Agreement and until the
Closing Date, the Buyer shall have reasonably determined that there has been no Material Adverse
Change.

 

 

          7.7 Due Diligence Investigation. Buyer shall have completed to its
satisfaction its due diligence investigation of the Company.

          7.8 Consent. The Company shall have obtained every consent, approval, ratification,
waiver or other authorization (“Consent”) necessary under any Contract, Order, License, Law
or restriction to which the Company is subject or a party to the extent failure to obtain any such
Consent would have a Material Adverse Effect as a result of the Closing and consummation of this
Agreement.

     8. Conditions to the Company’s Obligation to Close. The obligation of the Company to
consummate the transactions contemplated by this Agreement, including the Tender Offer, shall be
subject to the satisfaction and fulfillment, prior to and on the Closing Date, except for the
express condition precedent in Section 8.7 which must be satisfied and fulfilled in the time frame
specified therein, of the following express conditions precedent (any of which may be waived by the
Company, in whole or in part):

          8.1 Representations and Warranties. All the representations and warranties in this
Agreement made by the Buyer must be accurate in all material respects as of the Closing Date as if
made on the Closing Date.

          8.2 Performance of Covenants and Obligations. The Buyer shall have performed and
complied with all of its material covenants and obligations under this Agreement which are to be
performed or complied with by it prior to or on the Closing Date.

          8.3 Payment of Purchase Price. The Buyer shall have caused the payments to be made as
described in Section 2 hereof.

          8.4 Fairness Opinion. The Company shall have received a fairness opinion from a third
party as to this Agreement and the terms hereof, including the proposed tender offer by the company
to its shareholders.

          8.5 Board Approval. The Company’s Board of Directors shall have approved the execution
and delivery of this Agreement and recommended to the Company’s shareholders that the transactions
contemplated herein be approved.

          8.6 Shareholder Approval. A majority of each series of capital stock of the Company
shall have approved the conversion of such shares into common stock of the Company prior to the
commencement of the cash tender offer to its shareholders.

          8.7 Due Diligence. Buyer shall have provided written notice to the Company within 45
days after execution of this Agreement that it has completed the due Diligence Investigation and
desires to proceed with the transactions contemplated by this Agreement.

          8.8 Tendered Shares. The shareholders of the Company shall have tendered to the
Company for purchase the Tendered Shares.

          8.9 Hart-Scott-Rodino. All applicable waiting periods (and any extensions thereof)
under the Hart-Scott-Rodino Act shall have expired or otherwise been terminated and the Company and
the Buyer shall have received all authorizations, consents, and approvals of governments and
governmental agencies.

     9. Termination.

          9.1 Termination Events. This Agreement may, by written notice given prior to or at
Closing, be terminated:

     (a) By either the Buyer or the Company if a material breach of any provision of this
Agreement has been committed by the other party and such breach has not been waived;

     (b) (1) by the Buyer if any of the conditions in Section 7 have not been satisfied as
of the Closing Date, or if, prior to that time, satisfaction of a condition is or becomes
impossible (unless the

 

 

failure to satisfy the condition results primarily from the Buyer itself breaching any
representation, warranty, or covenant contained in this Agreement) and Buyer has not waived
such condition on or before the Closing Date; or (2) by the Company if any of the conditions
in Section 8 have not been satisfied as of the Closing Date, or if, prior to that time,
satisfaction of a condition is or becomes impossible (unless the failure to satisfy the
condition results primarily from the Company breaching any representation, warranty, or
covenant contained in this Agreement) and the Company has not waived such condition on or
before the Closing Date;

     (c) by the Buyer for any reason within 45 days after execution of this Agreement;

     (d) by the Company if the Buyer hasn’t provided written notice to the Company within 45
days after execution of this Agreement that it desires to proceed with the transactions
contemplated by this Agreement;

     (e) by mutual consent of the Buyer and the Company; and

     (f) by either the Buyer or the Company if the Closing has not occurred (other than
through the failure of any party seeking to terminate this Agreement to comply fully with
its obligations under this Agreement) on or before May 31, 2008, or such later date as the
parties may agree upon.

10. Indemnification.

     10.1 Survival of Representations. All covenants and obligations in this Agreement and
the Disclosure Schedule shall survive the Closing for a period of one year. The right to
indemnification, payment of damages or any other remedy based on such representations, warranties,
covenants and obligations will not be affected by any investigation conducted with respect to, or
any Knowledge acquired (or capable of being acquired) at any time, whether before or after the
execution and delivery of this Agreement or the Closing Date, with respect to the accuracy or
inaccuracy of or compliance with, any such representation, warranty, covenant, or obligation. The
waiver of any condition based on the accuracy of any representation or warranty, or on the
performance of or compliance with any covenant or obligation, will not affect the right to
indemnification, payment of damages, or other remedy based on such representations, warranties,
covenants, and obligations.

     10.2 Indemnification.

     (a) The Company will indemnify and hold harmless the Buyer for, and

will pay to the Buyer the amount of, any loss liability, claim, damage, expense or
deficiency including, but not limited to, reasonable attorneys’ fees and other costs
and expenses from or in connection with:

     (1) Any material breach of any representation or warranty made by the Company
in this Agreement, the Disclosure Schedule and any other certificate or document
delivered by the Company pursuant to this Agreement; or

     (2) Any material breach by the Company of any covenant or obligation of the
Company in this Agreement.

     (b) The Buyer will indemnify and hold harmless the Company for,
and will pay to the Company the amount of, any loss, liability, claim, damage, expense
or deficiency including, but not limited to, reasonable attorneys’ fees and other costs
and expenses from or in connection with:

     (1) Any material breach of any representation or warranty made by the Buyer in
this Agreement and any other certificate or document delivered by Buyer pursuant to
the Agreement; or

     (2) Any material breach by the Buyer of any covenant or obligation of the Buyer
in this Agreement.

 

 

     11. Miscellaneous.

          11.1 Further Assurances. Each party hereto from time to time hereafter, and upon
request, shall execute, acknowledge and deliver such other instruments as reasonably may be
required to more effectively carry out the terms and conditions of this Agreement.

          11.2 Cooperation in Due Diligence Investigation; Obtaining Consents. The Company
covenants that it will cooperate in the Due Diligence Investigation by making available to the
Buyer, during normal business hours and at the Company’s business locations or such other location
as is mutually agreed between the parties, all information reasonably requested by the Buyer
relating to the Company, its assets, liabilities and operations. The Company covenants that it
will use its best commercial efforts to obtain any Consent which is a condition of Closing under
Section 7.8.

          11.3 Benefit and Assignment. This Agreement shall be binding upon and inure to the
benefit of the parties hereto, their heirs, successors, assignees, and beneficiaries in interest.
The Buyer may assign this Agreement only to affiliates that are 100% owned by EZCORP, Inc., EZPAWN
Florida, Inc., or another 100% owned subsidiary of EZCORP, Inc.

          11.4 Governing Law. This Agreement shall be governed by and construed in accordance
with the internal Laws of the State of Delaware (regardless of its conflict of laws principles),
and without reference to any rules of construction regarding the party responsible for the drafting
hereof.

          11.5 Expenses. Except as otherwise herein provided, all expenses and costs incurred in
connection with this Agreement or the transactions herein provided for shall be paid by the party
incurring such expenses and costs.

          11.6 Notices. All notices, demands, and communications provided for herein or made
hereunder shall be given in writing and shall be deemed given to a party at the earlier of (a) when
actually delivered to such party; (b) when facsimile transmitted to such party to the facsimile
number indicated for such party below (or to such other facsimile number for a party as such party
may have substituted by notice pursuant to this Section); or (c) when mailed to such party by
registered or certified U.S. Mail (return receipt requested) or sent by overnight courier,
confirmed by receipt, and addressed to such party at the address designated below for such party
(or to such other address for such party as such party may have substituted by notice pursuant to
this Section):

	 	 	 	 	 	 	 
	 	 	If to the Buyer:	 	EZPAWN Florida, Inc.
	 

	 	 	 	 	 	Attention: Connie Kondik, General Counsel
	 

	 	 	 	 	 	1901 Capital Parkway
	 

	 	 	 	 	 	Austin, Texas 78746
	 

	 	 	 	 	 	Fax: (512) 314-3463
	 
	 	 	 	 	 	 
	 	 	With a copy to:	 	Lee Polson, Esq.
	 

	 	 	 	 	 	Strasburger & Price, LLP
	 

	 	 	 	 	 	600 Congress Avenue, Suite 1600
	 

	 	 	 	 	 	Austin, Texas 78701
	 

	 	 	 	 	 	Fax: (512) 536-5719
	 
	 	 	 	 	 	 
	 	 	If to the Company:	 	Value Financial Services, Inc.
	 

	 	 	 	 	 	1063 Maitland Center Commons Blvd.
	 

	 	 	 	 	 	Suite 200
	 

	 	 	 	 	 	Orlando, Florida 32751
	 

	 	 	 	 	 	Fax: (407) 339-6608
	 
	 	 	 	 	 	 
	 	 	With a copy to:	 	Jeffery Bahnsen, Esq.
	 

	 	 	 	 	 	Greenberg Traurig, P.A.
	 

	 	 	 	 	 	5100 Town Center Circle, Suite 400
	 

	 	 	 	 	 	Boca Raton, FL 33486
	 

	 	 	 	 	 	Fax: (561) 367-6250

 

 

          11.7 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument, provided that all such counterparts, in the aggregate, shall contain
the signatures of all parties hereto.

          11.8 Headings. All Section headings herein are inserted for convenience only and shall
not modify or affect the construction or interpretation of any provision of this Agreement.

          11.9 Amendment, Modification and Waiver. This Agreement may not be modified, amended
or supplemented except by mutual written agreement of the Buyer and the Company. Both the Buyer and
the Company may waive in writing any term or condition contained in this Agreement and intended to
be for its benefit; provided, however, that no waiver by either party, whether by conduct or
otherwise, in any one or more instances, shall be deemed or construed as a further or continuing
waiver of any such term or condition.

          11.10 Entire Agreement. This Agreement, any Exhibit attached hereto, and the
Disclosure Schedule represent the entire agreement of the parties with respect to the subject
matter hereof and supersede and replace any prior understandings and agreements with respect to the
subject matter hereof and no provision or document of any kind shall be included in or form a part
of such agreement unless signed and delivered to the other party by the party to be charged.

          11.11 Third Party Beneficiaries. No third parties are intended to benefit from this
Agreement, and no third party beneficiary rights shall be implied from anything contained in this
Agreement.

          11.12 Exclusive Dealing. During the period from the date of this Agreement through 45
days after execution of this Agreement (or such earlier termination of this Agreement pursuant to
Section 9 above), no director or officer of the Company, or any representative of such
Person shall: (a) conduct or cause to be conducted negotiations with third parties regarding the
sale or potential sale of the assets or capital stock of the Company; or (b) solicit the submission
of proposals or offers from any Person, or otherwise cooperate in any way to facilitate or
encourage such proposal by any Person or entity other than Buyer, relating to the sale or potential
sale of the assets or capital stock of the Company.

[signatures on following page]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Stock Purchase Agreement to be
executed as of the date and year first above written.

	 	 	 	 	 
	EZPAWN Florida, Inc.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	 

	 	 	 	 
	Title:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Value Financial Services, Inc.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	John Thedford, President and	 	 
	 

	 	Chief Executive Officerexv10w2

 

Exhibit 10.2

AMENDMENT NO. 1 TO

STOCK PURCHASE AGREEMENT

          This Amendment No. 1 to the Stock Purchase Agreement (the “Amendment”) dated
April 28, 2008, is made by and between EZPAWN Florida, Inc. a Delaware corporation (the
“Buyer”) and Value Financial Services, Inc., a Florida corporation (the “Company”).

RECITALS

          Whereas, the Buyer and the Company executed and delivered that certain Stock Purchase
Agreement on March 14, 2008, for the purchase and sale of up to 6,646,359 shares of common stock of
the Company (the “Purchase Agreement”);

               Whereas, the Buyer and the Company desire to extend the deadline for completion of
the Due Diligence Investigation and closing of the transaction;

          Now therefore, in consideration of the premises and the mutual promises herein made,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Buyer and the Company agree as follows:

	 	1.	 	Definitions. Section 1 of the Purchase Agreement is amended by adding the
following definition:
	 
	 	 	 	“Due Diligence End Date” shall mean 5:00 o’clock p.m. CDT on May 13, 2008.
	 
	 	2.	 	Tender Offer. Section 6.1 of the Purchase Agreement is amended by deleting the
existing language and inserting in its place the following:

               The Company covenants that on or before May 19, 2008, the Company will make a cash
tender offer to its shareholders to purchase up to 6,646,369 shares of its issued and
outstanding capital stock (“Capital Stock”), which number of shares includes all
shares of common stock issuable upon conversion of all other classes of Capital Stock to
common stock (“Tender Offer”). The Tender Offer shall be for a purchase price of
$11.00 per share.

	 	3.	 	Closing. Section 3.2 of the Purchase Agreement is amended by deleting the
words “April 30, 2008” and inserting in their place, “June 26, 2008.”
	 
	 	4.	 	Due Diligence. Section 8.7 of the Purchase Agreement is amended by deleting
the existing language and inserting in its place the following:

               8.7 Due Diligence. Buyer shall have provided written notice to the Company
prior to the Due Diligence End Date that it has completed the Due Diligence Investigation
and desires to proceed with the transactions contemplated by this Agreement.

	 	5.	 	Termination. 

	 	(a)	 	Subsection 9.1(c) of the Purchase Agreement is amended by deleting the
existing language and inserting in its place the following:

               9.1(c) By the Buyer for any reason prior to the Due Diligence End Date;

	 	(b)	 	Subsection 9.1(d) of the Purchase Agreement is amended by deleting the
existing language and inserting in its place the following:

               9.1(d) By the Company if the Buyer hasn’t provided written notice to the Company prior
to the Due Diligence End Date that it desires to proceed with the transactions contemplated
by this Agreement;

 

 

	 	(c)	 	Subsection 9.1(f) of the Purchase Agreement is amended by deleting the
words, “May 31, 2008” and inserting in their place, “June 26, 2008”.

	 	6.	 	Exclusive Dealing. Subsection 11.12 of the Purchase Agreement is amended by
deleting the existing language and inserting in its place the following:

               11.12 Exclusive Dealing. Prior to the Due Diligence End Date, (or such earlier
termination of this Agreement pursuant to Section 9 above), no director or officer of the
Company, or any representative of such Person shall: (a) conduct or cause to be conducted
negotiations with third parties regarding the sale or potential sale of the assets or
capital stock of the Company; or (b) solicit the submission of proposals or offers from any
Person, or otherwise cooperate in any way to facilitate or encourage such proposal by any
Person or entity other than Buyer, relating to the sale or potential sale of the assets or
capital stock of the Company.

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the
date and year first above written.

	 	 	 	 	 
	EZPAWN Florida, Inc.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Daniel Tonissen, Senior Vice President	 	 
	 

	 	and Chief Financial Officer	 	 
	 
	 	 	 	 
	Value Financial Services, Inc.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Printed Name:                                        	 	 
	 

	 	Its:

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